On December 12, 2021, Dollar Tree, Inc. issued a statement regarding recent interactions with Mantle Ridge LP and its notice seeking to nominate a full slate of 11 directors to the Company's Board of Directors at its 2022 annual meeting. In the statement, the Company's Board of Directors and management team maintain an ongoing dialogue with shareholders and welcome input about the Company's strategy and performance. The Company however disappointed that Mantle Ridge has been unwilling to engage with the Company constructively and has instead chosen to proceed in such an unwarrantedly aggressive and hostile manner.

The Company added that Mantle Ridge's overreach in seeking to replace the Company's full Board with its own hand-picked slate -- despite having no ideas or plans to improve on the business or operations -- is not justified nor would it be in the best interests of the Company shareholders. The Company added that it stands ready to engage constructively with Mantle Ridge, even though it is disappointed that, rather than pursuing constructive engagement, Mantle Ridge has chosen to embark on an unwarranted and potentially disruptive proxy contest to replace the entire Board. The Company stated that it would like to avoid an expensive and distracting proxy fight, the Board does not believe that handing control of the Company to Paul Hilal and Mantle Ridge as it demands is in the best interests of the Company, its shareholders or other stakeholders.