PRESS RELEASE
Paris, June 8, 2011
PPR S.A. Extends Cash Tender Offer for Volcom, Inc.
PPR S.A. (FR 0000121485, PRTP.PA, PPFP) announced today that its previously announced tender offer to acquire all the outstanding shares of common stock of Volcom, Inc. (NASDAQ: VLCM) for
$24.50 per share in cash has been extended to allow additional time to obtain necessary foreign antitrust approvals and will now expire at 5:30 p.m., New York City time, on Thursday, June 16, 2011, unless further extended. All other terms and conditions of the offer remain unchanged.
The transaction is subject to the satisfaction of customary closing conditions, including receipt of the remaining applicable regulatory approvals. As previously announced on May 24, 2011, the parties received notification of early termination of the waiting period under the Hart-Scott-Rodino Act. As of 4:00 p.m., New York City time, on June 7, 2011, a total of approximately 8,868,132 shares of Volcom common stock (including 4,014,184 shares tendered through notices of guaranteed delivery) had validly been tendered into and not withdrawn from the offer.
Advisors
Peter J. Solomon Company is acting as financial advisor, and Wachtell, Lipton, Rosen & Katz is acting as legal advisor, to PPR.
Important Information
This announcement is neither an offer to purchase nor a solicitation of an offer to sell securities. The tender offer is being made pursuant to a tender offer statement on Schedule TO filed by PPR on May 11, 2011, as amended and supplemented through the date of this release. Volcom filed a solicitation/recommendation statement on Schedule 14D-9 with respect to the tender offer on May 11, 2011, as amended and supplemented through the date of this release. The Schedule TO (including the offer to purchase, related letter of transmittal and other tender offer documents) and the Schedule 14D-9 contain important information that should be ready carefully and entirely before making any decision to tender securities into the tender offer. Volcom stockholders may obtain a free copy of these materials on the SEC’s website at www.sec.gov. or by contacting the information agent for the tender offer, MacKenzie Partners, Inc., at 105 Madison Avenue, New York, New York 10016 or by calling (212) 929-5500 (collect) or (800) 322-2285 (toll-free).

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