TRISTATE HOLD (00458) Nautica and Spyder brand temporary restraining order application has been rejected and will be appealed.

TRISTATE HOLD (00458) issued a statement that at a hearing held on July 22, 2026 (New York time) at the New York State Supreme Court, the group's application for a temporary restraining order to prevent the termination of the franchise agreements for the Nautica and Spyder brands by the franchisors and related parties has been rejected. The group is preparing to appeal the rejection of their temporary restraining order application. Additionally, on July 23, 2026, ABG Group formally issued a termination notice for the franchise agreements related to the Nautica and Spyder brands (with the effective date being July 23, 2026), and requested payment of additional franchise fees according to the terms of the relevant franchise agreements, which the group disputes. The group is seeking legal advice and will take appropriate action to vigorously defend its rights and legitimate interests in regards to the termination of the franchise agreements, and as part of the appeal, seek to prevent the enforcement of such termination notice until the disputes are resolved.