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Upcoming spin-off by L Brands Inc.

We want to notify you about the L Brands Inc. spin-off scheduled for 22/07/2021. It will result in the establishment of Victoria's Secret as a new legal entity. This corporate event will impact the physical stock (LB.) since it is solely available for trading on JFD’s platforms.

JFD will not offer the new entity’s shares, which will be distributed at a ratio of 0.3:1. Therefore, we will not allocate the applicable number of new shares to all clients who will be holding open positions on L Brand stocks until the market closes on 21/07/2021. Instead, once we have received the new assigned shares, we will sell them at the first available price and transfer their monetary equivalent to the live trading accounts of the respective clients according to the size of their open positions.

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