WESCO Distribution, Inc. Announces Early Tender Results With Respect to Offers to Purchase for Cash Any and All of Anixter Inc.'s 5.50% Senior Notes Due 2023 and 6.00% Senior Notes Due 2025 and Related Consent Solicitations

May 14, 2020

WESCO International, Inc. (NYSE: WCC) (“WESCO International”) announced today the early results of the previously announced tender offers (each, an “Offer” and together, the “Offers”) by WESCO Distribution, Inc. (“WESCO”) to purchase for cash any and all of Anixter Inc.’s (“Anixter”) outstanding (i) 5.50% Senior Notes due 2023 (the “2023 Notes”) and (ii) 6.00% Senior Notes due 2025 (the “2025 Notes” and, together with the 2023 Notes, the “Notes,” each such series of the Notes, a “Series”). In connection with the Offers, WESCO announced the early results of its consent solicitations with respect to each Series of Notes (the “Offer Consent Solicitations”) to amend the applicable indenture establishing the 2023 Notes and 2025 Notes (each, the “Indenture,” and together, the “Indentures”). For any Notes of a Series that a Holder (as defined below) tendered or will tender in either Offer, the Holder is deemed to have delivered consents (“Offer Exit Consents”) to amend the applicable Indenture to, among other things, eliminate substantially all of the restrictive covenants, eliminate certain “Events of Default” and eliminate any requirement to make a change of control offer or restrictions in the Indenture that limit Anixter International (as defined below) or Anixter from consolidating with or merging with or into any other person or selling or conveying all or substantially all of its properties and assets to any person, in each case in the applicable Indenture (as further described in the Offer to Purchase and Consent Solicitation Statement (the “Offer to Purchase”)) (the “Offer Exit Proposed Amendments”).

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