Hostess Brands, Inc. (NASDAQ: TWNK, TWNKW) (the "Company" or "Hostess"), one of the largest manufacturers and marketers of sweet baked goods including Twinkies®, Ding Dongs®, Ho Hos®, Donettes® and a variety of new and classic treats, today announced the completion of a debt refinancing, including the repricing of its existing First Lien Term Loan and the refinancing of its existing debt into an all first lien capital structure. Under the refinancing, the Company's First Lien Term Loan was repriced from LIBOR plus 3.50% to LIBOR plus 3.00%, resulting in an interest rate reduction of 50 basis points, while the remaining $83 million of the Company's Second Lien Term Loan with an interest rate of LIBOR plus 7.50% was refinanced with an incremental $83 million First Lien Term Loan at LIBOR plus 3.00%. The Company expects to realize approximately $8 million of interest expense savings annually, or approximately $0.04 of basic earnings per share to common shareholders, as a result of the refinanced capital structure. No covenants were changed and the First Lien Term Loan continues to have a maturity date of August 3, 2022. "We are very pleased with the refinancing of our debt and the ongoing support from our banking partners and debt holders," commented Bill Toler, President and Chief Executive Officer of Hostess. "These refinancing activities build on the success of our operational initiatives and reflect the strength of our business model and cash flow. We believe our new all first-lien capital structure, along with our healthy financial condition, will provide our business with the financial flexibility required to support our continued long-term growth." About Hostess Brands, Inc. Hostess is one of the largest packaged food companies focused on developing, manufacturing, marketing, selling and distributing fresh baked sweet goods in the United States. The brand's history dates back to 1919, when the Hostess CupCake was introduced to the public, followed by Twinkies® in 1930. Today, Hostess produces a variety of new and classic treats including Ding Dongs®, Ho Hos®, Donettes® and Fruit Pies, in addition to Twinkies® and CupCakes.