RE: Important information postponing the upcoming retirement plan conversion to Vanguard

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Dear Dansko:

RE: Important information postponing the upcoming retirement plan conversion to Vanguard

We hope you are all safe and enduring these challenging times within the comforts of your home and with your family.

We have an important announcement regarding the upcoming retirement plan conversion with Vanguard, and wanted to reach out to all team members today to inform you of the decision to postpone the pending conversion, originally scheduled for April 1, for an approximate period of 90 days.  This decision was made after conversations with management, Vanguard, and our CAPTRUST advisory teams.  Based on these conversations and in light of the unprecedented situation we are all facing, we feel that it is prudent to put a “pause” on the retirement plan transaction.

For all of us, there’s been significant change and disruption in our everyday lives. Market volatility, negative economic and health related news, and uncertainty will likely continue and exacerbate fears. While as a company we are well prepared and taking the necessary precautions, we felt that the postponement of the retirement plan conversion would be less of a distraction for all of us during these challenging times (i.e. inability to conduct informational meetings, transactional restrictions, market volatility, etc.).  The attached communication from CAPTRUST regarding market volatility directly relates to where we are today and why this decision is being made.

While the next few months are likely to be a bumpy ride for investors, markets have historically recovered with time. Your investments are secure with Transamerica and we’ve received reassurance from Transamerica that there have been no disruptions to call center activities and business operations at this time. As a reminder, participants can reach out to Transamerica at (800) 755-5801, or contact the CAPTRUST Advice desk at (800) 967-9948 or www.captrustadvice.com if you have any questions.  Thank you for your time and attention.

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