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Departure of Directors or Certain

On October28, 2015, Rite Aid Corporation (the Company) announced the appointment of Darren W. Karst as Senior Executive Vice President, Chief Financial Officer and Chief Administrative Officer of the Company; Frank G. Vitrano as Chief Strategic Business Development Officer; and Marc A. Strassler as Corporate Counsel of the Company, each effective as of October26, 2015.

Detailed biographical information for Messrs.Karst, Vitrano and Strassler is included in the Companys definitive proxy statement filed with the Securities and Exchange Commission on May5, 2015 (the Proxy Statement) and is incorporated by reference herein.

Mr.Karst, who joined the Company in August2014 as the Companys Executive Vice President and Chief Financial Officer, is assuming the Chief Administrative Officer responsibilities previously held by Mr.Vitrano. In connection with his assumption of these responsibilities, the Company and Mr.Karst entered into a letter agreement that amended the terms of his employment agreement dated July24, 2014 (the Karst Letter Agreement). Pursuant to the Karst Letter Agreement, Mr.Karst will have a target annual performance bonus opportunity equal to 125% of his annual base salary effective as of August 3, 2015. The previously disclosed material terms of Mr.Karsts employment remain the same. The foregoing description of the Karst Letter Agreement is a summary of certain of its terms only and is qualified in its entirety by the full text of the Karst Letter Agreement, which is attached as Exhibit10.1 hereto.

Mr.Vitrano, who...