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Southeastern Grocers Announces Launch Of Notes Offering

Southeastern Grocers commitment

Jacksonville, Florida-based Southeastern Grocers Inc. says its indirect wholly-owned subsidiaries SEG Holding LLC and SEG Finance Corp. intend to issue $325.0 million aggregate principal amount of Senior Secured Notes due 2028. The notes will be fully and unconditionally guaranteed by the subsidiaries of SEG that guarantee its existing asset-based revolving credit facility.

The proceeds from the proposed offering of the notes, together with cash on hand and drawings under the Revolving Credit Facility, are intended to be used to repay in full the amounts outstanding under, and cancel, the group’s existing Term Loan Facility, with the balance to be used to pay transaction fees and expenses related to the repayment of the Term Loan Facility and the issuance of the notes.

The exact terms of the notes and timing and completion of the offering will depend upon market conditions and other factors.

The notes will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or under any state securities law, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes are being offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A and outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

SEG, parent company and home of BI-LO, Fresco y Más, Harveys Supermarket and Winn-Dixie grocery stores, is one of the largest conventional supermarket companies in the U.S. SEG grocery stores, liquor stores and in-store pharmacies serve communities throughout the seven southeastern states of Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina and South Carolina.

BI-LO, Fresco y Más, Harveys Supermarket and Winn-Dixie are well-known and well-respected regional brands with deep heritages, strong neighborhood ties, histories of giving back, talented and caring associates and strong commitments to providing the best possible quality and value to customers.

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