On November 30, 2023, the Board of Directors of Kidpik Corp. (NasdaqCM:PIK) formed a committee of independent directors to review and evaluate potential strategic alternatives for the Company. As a result of the difficult economic environment in which consumers are pulling back on spending on non-essential items, including clothing, as well as increases in the Company's cost to acquire customers, due to changes in the use of "cookie" tracking technologies, the Company is currently working to reduce expenses and overhead, sell off inventory, and workforce reduction.

The Board of Directors and management team are committed to acting in the best interests of the Company, its stockholders and its stakeholders. Transactions which may be undertaken by the Company, may include, but are not limited to, business combinations, liquidations of assets and/or a sale of the Company or its assets. There is no deadline or definitive timetable set for completion of the strategic alternatives review process and there can be no assurance that this process will result in the Company pursuing a transaction or any other strategic outcome.

The Company does not intend to make any further public comment regarding the review of strategic alternatives until it has been completed or the Company determines that a disclosure is required by law or otherwise deemed appropriate.