Investors

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Any person who requests such information from The Michaels Companies, Inc. (the “Company”) or seeks to participate in any conference call will be required to make, to the Company’s good faith satisfaction, certain representations and agreements (and by accepting such financial information, such person will be deemed to have represented to and agreed with the Company) set forth in the agreements governing the 5.250% Senior Secured Notes due 2028 of the Company and certain subsidiaries of the Company (the “Secured Notes”) and the 7.875% Senior Notes due 2029 of the Company and certain subsidiaries of the Company (the “Unsecured Notes” and together with the Secured Notes, the "Notes"). Any person who is a listed "Competitor" of the Company may be refused entry to the private data site.