Boardriders Inc., a leading global action sports and lifestyle company that 
designs, produces and distributes branded apparel, footwear and accessories 
under the Quiksilver, Billabong, ROXY, DC Shoes, RVCA and Element brands, 
announced today that it is taking a range of actions to respond to the global 
health crisis, as well as the associated demand impact that government-mandated 
shutdowns have had on its business.

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To protect the health and well-being of its teams, over the last several weeks 
Boardriders has transitioned to remote work arrangements, limited travel on a 
global basis, and closed stores and facilities in accordance with local 
government regulations. In addition, Boardriders has strengthened its cleaning 
and sanitizing protocols across all its facilities, and has been actively 
practicing social distancing.

Boardriders CEO David Tanner said, "We are grateful that our teammates around 
the world have been able to follow our safety and protection protocols, as well 
as the advice of various government and health authorities, and have been able 
to remain healthy to date."

In response to the demand drop off caused by various government restrictions 
and mandatory shutdowns, Boardriders is implementing a series of measures to 
buttress its short-term position while simultaneously reconfiguring its 
business for the post-coronavirus world. These measures include pausing a range 
of business activities and reducing associated costs to match the overall 
slowdown in commercial activity. In addition, the Company has made the 
difficult decision to implement pay reductions across its global teams as well 
as temporary furloughs in certain functions and geographies.

Finally, the company has undergone a coordinated strategy and operations review 
and has begun to proactively implement a series of initiatives to adapt its 
business to the new emerging marketplace. These initiatives are changing some 
internal structures, processes, and ways of working and will unfortunately 
result in some role eliminations.

Mr. Tanner said, "There is simply nothing worse than telling highly-valued 
teammates, who are the heart of our brands, that their paychecks are being 
impacted by things completely out of our control."  Mr. Tanner continued, "In 
light of the magnitude of this crisis, we are working with all of our 
commercial partners, including our factories, landlords, vendors, customers, 
and athletes to share the burden of this unexpected disruption to everyone's 
business. There is simply no way that our business, or any piece of our 
ecosystem, can fully absorb all of the financial impact of this event on their 
own. We all need each other to make it through this incredibly difficult time."

About Boardriders Inc.:

Boardriders, Inc., is a leading action sports and lifestyle company that 
designs, produces and distributes branded apparel, footwear and accessories for 
Boardriders around the world. The Company's apparel and footwear brands 
represent a casual lifestyle for young-minded people who are inspired by a 
passion for outdoor action sports.  The Company's Quiksilver, Billabong, ROXY, 
DC Shoes, RVCA , and Element brands have authentic roots and heritage in surf, 
snow and skate.  The Company's products are sold in more than 110 countries in 
a wide range of distribution, including surf shops, skate shops, snow shops, 
its proprietary Boardriders shops and other Company-owned retail stores, other 
specialty stores, select department stores and through various e- commerce 
channels. For additional information, please visit our brand websites at 
www.quiksilver.com, www.billabong.com, www.roxy.com, www.dcshoes.com, 
www.rvca.com, www.elementbrand.com. 

SOURCE  Boardriders, Inc.

CONTACT: Sitrick and Company, Stuart Pfeifer, +1.310.788.2850; 
spfeifer@sitrick.com; Anita-Marie Laurie, +1.310.788.2850; 
anitamarie@sitrick.com