On May 27, 2020, Hestia Capital Partners LP, Permit Capital Enterprise Fund, L.P. and their affiliates announced that they have issued a rebuttal presentation titled, ‘GameStop’s Investor Presentation Reinforces the Need for More Change’. In the rebuttal presentation, Hestia Capital stated that how the Company’s recent investor presentation, which was put forth by the newly reconstituted Board, includes many false and misleading statements about the Company’s performance and the investor group’s nominees, highlighting the need for more Board change. In addition, Hestia Capital urged the stockholders to vote on its proxy card to elect its 2 nominees; Paul J. Evans and Kurtis J. Wolf at the Company’s meeting.