Under Armour, Inc. (NYSE: UA, UA.C) today announced that its Board of Directors has approved the payment of a $59 million dividend to holders of the Company's Class C non-voting common stock in satisfaction of the previously announced settlement agreement entered into by the Company in connection with shareholder litigation related to the creation of the Class C stock.

The Company's Board of Directors has approved the payment of this dividend in the form of shares of additional shares of Class C stock, with cash in lieu of any fractional shares. The shares of Class C stock will be distributed on or about June 29, 2016, to stockholders of record of Class C stock on June 15, 2016. The Company has determined that the initial distribution ratio will be 0.007098 of a share of Class C stock for each share of Class C stock held. A final distribution ratio will be provided when determined.

For additional information, please visit the "Stock Info" section of Under Armour's Investor Relations website at www.uabiz.com/investors.cfm.

About Under Armour, Inc.

Under Armour (NYSE: UA, UA.C), the originator of performance footwear, apparel and equipment, revolutionized how athletes across the world dress. Designed to make all athletes better, the brand's innovative products are sold worldwide to athletes at all levels. The Under Armour Connected Fitness™ platform powers the world's largest digital health and fitness community through a suite of applications: UA Record, MapMyFitness, Endomondo and MyFitnessPal. The Under Armour global headquarters is in Baltimore, Maryland. For further information, please visit the Company's website at www.uabiz.com.