HEXCLAD ANNOUNCES STRATEGIC INVESTMENT FROM STUDIO RAMSAY GLOBAL

Prolific Studio from Culinary Icon Gordon Ramsay and FOX Entertainment Takes Minority Stake in Premium Kitchenware Brand with Bold New Collaboration

LOS ANGELES, July 16, 2024 - HexClad, a global innovative, premium kitchenware brand, today announced a strategic $100M investment from Studio Ramsay Global, the successful partnership between multi-Michelin starred Chef Gordon Ramsay and FOX Entertainment. The deal comprises a combination of cash and media commitments. A digitally native, direct-to-consumer brand, HexClad has rapidly established itself as a global market leader in the kitchenware category by delivering premium-quality, innovative designs, and patented hybrid technology to an astonishing community of culinary enthusiasts.

This move expands Gordon Ramsay's ownership in the unicorn brand after the world-renowned chef first invested in HexClad as an equity partner in 2021. By increasing this stake, Ramsay signals his commitment to ensuring HexClad "owns the kitchen," while expanding its market share and global footprint through the continued introduction of watershed culinary innovation. In addition, HexClad reinforces its official cookware sponsorship across a wide range of FOX and Studio Ramsay Global-owned food series and content worldwide.

"I am honored that Studio Ramsay Global and Gordon will have a larger seat at our table as we continue to expand, evolve and innovate at HexClad," said Daniel Winer, co-founder of HexClad "From day one, content partnerships have been central to our success. Now, this alliance allows us to marry our products with the world's best food content studio in a thrilling new way."

Studio Ramsay Global's new agreement with HexClad is a landmark transaction for the culinary and entertainment giant, marking its first strategic investment in a consumer product brand that directly complements its content portfolio, including the newly unveiled, next-gen global food brand and entertainment platform, Bite.

"HexClad stands out as one of the world's fastest growing, highest quality and most respected cookware brands, which is why it's my go-to in the kitchen, and I firmly believe in its long-term growth potential," said Ramsay. "We've already had successful brand collaborations across many of my FOX series, and now we'll expand that partnership into something even more meaningful to food fans and consumers everywhere."

"Since forming Studio Ramsay Global three years ago, Gordon and his team have identified innovative new ways to bring his iconic food brand to life, creating great original entertainment and platforms from Next Level Chef to Bite, while showcasing incredible new culinary talent," said FOX Entertainment CEO Rob Wade. "This recipe for success just keeps growing and improving as we forge new strategic partnerships with globally recognized, premium brands like HexClad."

Known for its signature hexagon pattern, HexClad has disrupted the traditional cookware business with the invention of a first-to-market stainless plus non-stick product built on innovation and sustainability, which produced an entirely new "hybrid" category within the industry. The company has achieved extraordinary year-over-year growth, hitting unicorn status in mid-2023, positioning itself as a global lifestyle brand and content creator that delivers innovation to every area of the kitchen.

J.P. Morgan acted as sole placement agent to HexClad on the transaction.

About HexClad:

HexClad is a global premium kitchenware brand renowned for its innovation. Headquartered in Los Angeles, HexClad designs and sells branded kitchenware products including cookware, cutlery, cutting boards, aprons and pioneering kitchen tools through direct-to-consumer channels and strategic retail relationships. Founded in 2016, HexClad disrupted the industry with its patented hybrid technology, combining stainless steel with non-stick, delivering exceptional performance, durability and ease of use. The company's mission is to empower cooks of all levels with revolutionary products that break rules and challenge convention. This ethos has built a following of engaged brand loyalists worldwide. In 2023, HexClad was recognized on the Inc. 5000 as one of the fastest growing brands in America. To learn more, visit www.hexclad.com.

About Gordon Ramsay & Studio Ramsay Global

Renowned for highly successful and award-winning original programming, Emmy-nominated and BAFTA-winning Gordon Ramsay produces TV shows on both sides of the Atlantic, seen by audiences worldwide in more than 200 territories, and he is the only talent on air in the U.S. with five primetime national network shows. He hosts and executive-produces Next Level Chef, Hell's Kitchen, MasterChef, MasterChef Junior, Gordon Ramsay's Food Stars and Kitchen Nightmares, all on FOX, in addition to specials, including 2021's Gordon Ramsay's American Road Trip.

In 2021, Ramsay and FOX Entertainment announced their leading new worldwide production venture, Studio Ramsay Global, with offices in London, Los Angeles and Glasgow, to develop, produce and distribute culinary and lifestyle programming for FOX, Tubi and global markets. Among its shows are Next Level Chef, which became the most-watched cooking series telecast in television history following its post-Super Bowl LVII Season Two premiere, and Gordon Ramsay: Uncharted on National Geographic Channel, which airs in 172 countries and 43 languages worldwide, as well as Kitchen Nightmares and Gordon Ramsay's Food Stars.

His earlier multimedia production company, Studio Ramsay, was launched in the U.K. in 2016 to create and develop unscripted, digital and scripted programming, focusing on new formats and innovative programming, as well as fostering new talent. Its shows include the ratings hit and BAFTA-nominated Gordon, Gino and Fred's Road Trip for ITV; Gordon Ramsay's Bank Balance on BBC1; the daytime cooking series Culinary Genius, which premiered on ITV in the U.K., and was syndicated on FOX stations in the U.S.; the ITV series The Savoy and Gordon on Cocaine; and the highly popular children's series Matilda and the Ramsay Bunch, starring Tilly Ramsay, for U.K. children's channel CBBC.

Ramsay has his own FAST channel on FOX's ad-supported streamer Tubi. The FAST channel features episodes of classic Ramsay shows, such as Hell's Kitchen, Kitchen Nightmares, MasterChef, MasterChef Junior, Ramsay's Best Restaurant, Gordon Ramsay's Ultimate Cookery Course, Gordon's Great Escape, The F Word and Ramsay in 10.

Studio Ramsay Global Digital Division is behind all of Ramsay's original content on his highly successful YouTube Channel, which has made Ramsay the most-subscribed chef on the platform. The 18-34 dominated channel launched the trending interview series Scrambled and is also behind the highly successful Ramsay in 10, which went live during the global COVID-19 pandemic. Studio Ramsay Global Digital oversees and creates content for all behind-the-scenes moments from Studio Ramsay linear programming, has produced content for National Geographic and Masterclass, and produces recipe content across Ramsay's +100 million social media reach, including his breakout TikTok account.

About FOX Entertainment:

With a legacy spanning nearly 40 years, FOX Entertainment is one of the world's most recognizable media brands and a prolific content producer across its iconic broadcast network and both owned and third-party streaming platforms. Known for its independent, innovative spirit and provocative, groundbreaking storytelling, the company was reinvented in 2019 and today includes three key business segments: FOX Television Network, FOX Entertainment Studios and worldwide content sales unit FOX Entertainment Global.

While maintaining its leadership in linear television with an exceptional slate of original series, including 9-1-1: Lone Star, The Masked Singer, Rescue: HI-Surf, Doc, The Floor, The Simpsons, Animal Control, Murder in a Small Town, The Cleaning Lady, Hell's Kitchen and LEGO Masters, FOX Entertainment is building a portfolio of businesses and library of owned original content. To date, the company's long-term growth strategy has included the acquisitions of award-winning animation studio Bento Box Entertainment with animated comedies including Bob's Burgers, Krapopolis, Grimsburg, Hazbin Hotel and Universal Basic Guys; entertainment platform TMZ with its tentpole primetime series TMZ Investigates; and global production studio MarVista Entertainment with signature series The Way Home and Chicken Sisters, as well as its new independent film label Tideline Entertainment with inaugural releases including First Time Female Director, Ponyboi and Beacon. The company also formed the culinary and lifestyle content venture Studio Ramsay Global in partnership with iconic chef Gordon Ramsay, creating new food-themed original series such as Next Level Chef, Gordon Ramsay's Food Stars and Idiot Sandwich.

The FOX Entertainment Studios unit oversees the full scope of this growing studio operations portfolio, as well as its in-house unscripted studio FOX Alternative Entertainment with hits The Masked Singer, I Can See Your Voice and Name That Tune, and its scripted content studio featuring comedies Animal Control and Going Dutch.

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