<SEC-DOCUMENT>0001104659-25-080914.txt : 20250820
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<ACCEPTANCE-DATETIME>20250820161132
ACCESSION NUMBER:		0001104659-25-080914
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		15
CONFORMED PERIOD OF REPORT:	20250819
ITEM INFORMATION:		Material Modifications to Rights of Security Holders
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20250820
DATE AS OF CHANGE:		20250820

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DILLARD'S, INC.
		CENTRAL INDEX KEY:			0000028917
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-DEPARTMENT STORES [5311]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				710388071
		STATE OF INCORPORATION:			AR
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06140
		FILM NUMBER:		251236907

	BUSINESS ADDRESS:	
		STREET 1:		1600 CANTRELL RD
		CITY:			LITTLE ROCK
		STATE:			AR
		ZIP:			72201
		BUSINESS PHONE:		5013765200

	MAIL ADDRESS:	
		STREET 1:		1600 CANTRELL ROAD
		CITY:			LITTLE ROCK
		STATE:			AR
		ZIP:			72201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DILLARDS INC
		DATE OF NAME CHANGE:	19980622

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DILLARD DEPARTMENT STORES INC
		DATE OF NAME CHANGE:	19920703
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>UNITED STATES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Washington, D.C. 20549</b></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>CURRENT REPORT</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Pursuant to Section 13 OR 15(d) of The Securities
Exchange Act of 1934</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
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<p style="margin: 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see&#160;General Instruction A.2. below):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span id="xdx_90A_edei--WrittenCommunications_c20250819__20250819_zqxn9rWlY3r" style="font-family: Wingdings"><ix:nonNumeric contextRef="AsOf2025-08-19" format="ixt:booleanfalse" id="Fact000022" name="dei:WrittenCommunications">&#168;</ix:nonNumeric></span>
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span id="xdx_90F_edei--SolicitingMaterial_c20250819__20250819_zJDA1S6wH128" style="font-family: Wingdings"><ix:nonNumeric contextRef="AsOf2025-08-19" format="ixt:booleanfalse" id="Fact000023" name="dei:SolicitingMaterial">&#168;</ix:nonNumeric></span>
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span id="xdx_906_edei--PreCommencementTenderOffer_c20250819__20250819_zqUct2zlefXg" style="font-family: Wingdings; font-size: 10pt"><ix:nonNumeric contextRef="AsOf2025-08-19" format="ixt:booleanfalse" id="Fact000024" name="dei:PreCommencementTenderOffer">&#168;</ix:nonNumeric></span>
<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><span id="xdx_90E_edei--PreCommencementIssuerTenderOffer_c20250819__20250819_zxvln50CZhIa" style="font-family: Wingdings"><ix:nonNumeric contextRef="AsOf2025-08-19" format="ixt:booleanfalse" id="Fact000025" name="dei:PreCommencementIssuerTenderOffer">&#168;</ix:nonNumeric></span>
<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Securities registered pursuant to
Section 12(b) of the Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">If an emerging growth company, indicate by
check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.&#160;<span style="font-family: Wingdings">&#168;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"></p>

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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"><b>Item 3.03</b></td><td style="text-align: justify"><b><span style="text-decoration: underline">Material Modification to Rights of Shareholders</span>.</b></td></tr></table>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 19, 2025, Dillard&#8217;s,
Inc. (the &#8220;Company&#8221;) held a Special Meeting of Stockholders (the &#8220;Special Meeting&#8221;) in Little Rock, Arkansas.
At the Special Meeting, the stockholders of the Company approved the reincorporation of the Company from the State of Delaware to the
State of Texas by conversion (the &#8220;Texas Reincorporation&#8221;) pursuant to a plan of conversion (the &#8220;Plan of Conversion&#8221;),
as described in the Company&#8217;s definitive proxy statement on Schedule 14A for the Special Meeting filed with the Securities and Exchange
Commission on July 29, 2025 (the &#8220;Proxy Statement&#8221;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 20, 2025, the Company
filed (i) a certificate of conversion with the Secretary of State of the State of Delaware, (ii) certificate of conversion with the Secretary
of State of the State of Texas, and (iii) a certificate of formation with the Secretary of State of the State of Texas (the &#8220;Texas
Charter&#8221; and, collectively with the certificates of conversion described in the preceding clauses (i) and (ii), the &#8220;Conversion
Documents&#8221;). Pursuant to the Conversion Documents, the Texas Reincorporation will become effective on August 31, 2025, at 10:59
p.m. Central Time (the &#8220;Effective Time&#8221;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following will occur at
the Effective Time:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Symbol">&#183;</span></td><td style="text-align: justify">The Company&#8217;s domicile will change from the State of Delaware to the State of Texas.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Symbol">&#183;</span></td><td style="text-align: justify">The Company will continue in existence as a Texas corporation and we will continue to operate our business
under the current name, &#8220;Dillard&#8217;s, Inc.&#8221; The Texas Reincorporation will not result in any change in headquarters, business,
jobs, management, properties, location of any of our offices or facilities, number of employees, obligations, assets, liabilities or net
worth (other than as a result of the costs related to the Texas Reincorporation).</td></tr></table>

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<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Symbol">&#183;</span></td><td style="text-align: justify">The affairs of the Company will cease to be governed by Delaware law and the Company&#8217;s existing
certificate of incorporation (the &#8220;Delaware Charter&#8221;) and bylaws, and will instead be governed by Texas law, the Texas Charter
and the bylaws approved by the Company&#8217;s board of directors (the &#8220;Texas Bylaws&#8221;).</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Symbol">&#183;</span></td><td style="text-align: justify">Each outstanding share of Class A common stock, par value $0.01 per share, of the Delaware corporation
(the &#8220;Delaware Corporation Class A Common Stock&#8221;) will automatically convert into one outstanding share of Class A common
stock, par value $0.01 per share, of the Texas corporation (the &#8220;Texas Corporation Class A Common Stock&#8221;), and each outstanding
share of Class B common stock, par value $0.01 per share, of the Delaware corporation (the &#8220;Delaware Corporation Class B Common
Stock&#8221;) will automatically convert into one outstanding share of Class B common stock, par value $0.01 per share, of the Texas corporation.
Stockholders will not need to exchange their existing stock certificates for new stock certificates.</td></tr></table>

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<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Symbol">&#183;</span></td><td style="text-align: justify">There will be no interruption in trading. The Texas Corporation Class A Common Stock will be traded on
the New York Stock Exchange under the symbol &#8220;DDS.&#8221;</td></tr></table>

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<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Symbol">&#183;</span></td><td style="text-align: justify">All references to 5% Cumulative Preferred Stock, par value $100.00 per share, in the Delaware Charter
will be eliminated, and the shares that were designated to such series will be cancelled and not available for reissuance.</td></tr></table>

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<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font-family: Symbol">&#183;</span></td><td style="text-align: justify">Each employment letter or agreement, employee benefit plan or agreement, incentive compensation plan or
agreement or other similar plan or agreement to which the Delaware corporation is a party, or otherwise maintains, sponsors or contributes,
will continue to be a plan or agreement of the Texas corporation on the same terms and conditions and any references to the Delaware corporation
thereunder will mean the Texas corporation on and after the Effective Time. To the extent that any such plan, letter or agreement provides
for the issuance, or is otherwise based on the value, of common stock or other equity security of the Delaware corporation, as of the
Effective Time, automatically by virtue of the Texas Reincorporation and without any further action on the part of any person, such plan
or agreement will be deemed to provide for the issuance, or be based on the value, of common stock or other equity security of the Texas
corporation, respectively.</td></tr></table>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain rights of the Company&#8217;s
stockholders will be changed as a result of the Texas Reincorporation. A more detailed description of the Plan of Conversion, the Texas
Charter, the Texas Bylaws and the effects of the Texas Reincorporation is set forth in the Proxy Statement under &#8220;PROPOSAL TO APPROVE
THE REINCORPORATION OF THE COMPANY TO THE STATE OF TEXAS BY CONVERSION,&#8221; which description is incorporated herein by reference.
Copies of the Plan of Conversion, the Texas Charter and the Texas Bylaws are filed as Exhibits 2.1, 3.1 and 3.2, respectively, to this
Current Report on Form 8-K and are incorporated herein by reference.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"><b>Item 5.03</b></td><td><b><span style="text-decoration: underline">Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year</span>.</b></td></tr></table>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The information set forth
under Item 3.03 is incorporated by reference into this Item 5.03.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"><b>Item 5.07</b></td><td><b><span style="text-decoration: underline">Submission of Matters to a Vote of Security Holders</span>.</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">The
description of the Special Meeting set forth under Item 3.03 is incorporated by reference into this Item 5.07. </span>As of the record
date for the Special Meeting, which was the close of business on July 25, 2025, there were 11,626,733 shares of Delaware Corporation Class
A Common Stock, outstanding (each entitled to one vote per share) and 3,986,233 shares of Delaware Corporation Class B Common Stock outstanding.
On August 19, 2025 at the Special Meeting, the stockholders of the Company approved the Texas Reincorporation by the following vote:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"><b>Item 9.01</b></td><td><b><span style="text-decoration: underline">Financial Statements and Exhibits</span>.</b></td></tr></table>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SIGNATURES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td>&#160;</td>
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    <td style="width: 5%">&#160;</td>
    <td style="width: 44%">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 5%">&#160;</td>
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    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 2.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center"><B>PLAN OF CONVERSION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center"><B>OF </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center"><B>DILLARD&rsquo;S, INC., A DELAWARE CORPORATION,
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center"><B>INTO </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center"><B>DILLARD&rsquo;S, INC., A TEXAS CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
PLAN OF CONVERSION (this &ldquo;<B><I>Plan</I></B>&rdquo;), dated as of August 19, 2025, is hereby adopted by </FONT>Dillard&rsquo;s,
Inc., a Delaware corporation (the &ldquo;<B><I>Converting Entity</I></B>&rdquo;), in order to set forth the terms, conditions and procedures
governing its conversion into, and continued existence as, Dillard&rsquo;s, Inc., a Texas corporation (the &ldquo;<B><I>Converted Entity</I></B>&rdquo;),
pursuant to Title 1, Chapter 10, Subchapter C of the Texas Business Organizations Code (the &ldquo;<B><I>TBOC</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
the board of directors of the Converting Entity has approved this Plan and the conversion of the Converting Entity into the Converted
Entity (the &ldquo;<B><I>Conversion</I></B>&rdquo;), has adopted such resolutions as required pursuant to the terms of the Delaware General
Corporation Law (the &ldquo;<B><I>DGCL</I></B>&rdquo;), and has submitted and recommended this Plan and the Conversion for approval by
the stockholders of the Converting Entity, and the stockholders of the Converting Entity have validly approved this Plan and the Conversion
in accordance with the requirements of the DGCL and the Restated Certificate of Incorporation of the Converting Entity, as amended (the
&ldquo;<B><I>Certificate of Incorporation</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
on July 18, 2025, in accordance with Section 151(g) of the DGCL, the Company filed a Certificate of Elimination with the Secretary of
State of the State of Delaware with the effect of amending the Certificate of Incorporation to (i) eliminate all references to Series
A Junior Participating Preferred Stock, par value $0.01 per share (the &ldquo;<B><I>Series A Preferred Stock</I></B>&rdquo;), and (ii)
return the shares that were designated as Series A Preferred Stock to the status of authorized but unissued shares of preferred stock
of the Company, without designation as to series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOW,
THEREFORE</B></FONT>, the Converting Entity does hereby adopt this Plan, as set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Plan
of Conversion</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
name of the Converting Entity is &ldquo;</FONT>Dillard&rsquo;s, Inc.&rdquo;, a Delaware corporation. The Converting Entity was formerly
known as Dillard Department Stores, Inc. and, originally, as Mayer &amp; Schmidt, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
name of the Converted Entity is &ldquo;</FONT>Dillard&rsquo;s, Inc.&rdquo;, a Texas corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">c.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Converting Entity is continuing its existence, without lapse or interruption, in the organizational form of a Texas for-profit corporation
under the name &ldquo;</FONT>Dillard&rsquo;s, Inc.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify">d.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Converted Entity is to be a corporation and its jurisdiction of formation is the State of Texas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify">e.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;As
of the Effective Time (as defined in <U>Section 2</U>), automatically by virtue of the Conversion and without any further action on the
part of any person, in accordance with Section 266(g) of the DGCL, all references to 5% Cumulative Preferred Stock, par value $100.00
per share, in the Certificate of Incorporation shall be eliminated, and the shares that were designated to such series shall be cancelled
and not available for reissuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify">f.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;As
of the Effective Time, automatically by virtue of the Conversion and without any further action on the part of any person, (i) each share
of Class A Common Stock, par value $0.01 per share, of the Converting Entity issued and outstanding or held in treasury immediately prior
to the Effective Time shall be automatically converted into one share of Class A Common Stock, par value $0.01 per share, of the Converted
Entity&#894; and (ii) each share of Class B Common Stock, par value $0.01 per share, of the Converting Entity issued and outstanding or
held in treasury immediately prior to the Effective Time shall be automatically converted into one share of Class B Common Stock, par
value $0.01 per share, of the Converted Entity. At and after the Effective Time: (x) all of the outstanding certificates that immediately
prior thereto represented issued and outstanding shares of Class A Common Stock or Class B Common Stock of the Converting Entity shall
be deemed for all purposes to evidence ownership of and to represent shares of Class A Common Stock and Class B Common Stock, respectively,
of the Converted Entity into which the shares represented by such certificates have been converted as herein provided and shall be so
registered on the books and records of the Converted Entity and its transfer agent&#894; and (y) all of the issued and outstanding shares
of Class A Common Stock and Class B Common Stock of the Converting Entity that are in uncertificated book-entry form shall automatically
become the number and class of shares of the Converted Entity into which such shares of the Converting Entity have been converted as herein
provided in accordance with the customary procedures of the Converting Entity&rsquo;s transfer agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify">g.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;As
of the Effective Time, automatically by virtue of the Conversion and without any further action on the part of any person, each employment
letter or agreement, employee benefit plan or agreement, incentive compensation plan or agreement or other similar plan or agreement to
which the Converting Entity is a party, or otherwise maintains, sponsors or contributes, shall continue to be a plan or agreement of the
Converted Entity on the same terms and conditions and any references to the Converting Entity thereunder shall mean the Converted Entity
on and after the Effective Time. To the extent that any such plan, letter or agreement provides for the issuance, or is otherwise based
on the value, of common stock or other equity security of the Converting Entity, as of the Effective Time, automatically by virtue of
the Conversion and without any further action on the part of any person, such plan or agreement shall be deemed to provide for the issuance,
or be based on the value, of common stock or other equity security of the Converted Entity, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify">h.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;As
of the Effective Time, automatically by virtue of the Conversion and without any further action on the part of any person, each agreement
to which the Converting Entity is a party, shall continue to be an agreement of the Converted Entity on the same terms and conditions
and any references to the Converting Entity thereunder shall, on and after the Effective Time, mean the Converted Entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify">2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Effective
Time</U>. The Conversion will be consummated under the TBOC by filing with the Secretary of State of the State of Texas (a) a Certificate
of Conversion in the form required by the TBOC (the &ldquo;<B><I>Texas Certificate</I></B>&rdquo;) and executed in accordance with the
relevant provisions of the TBOC and (b) a Certificate of Formation in the form attached hereto as <U>Exhibit A</U> (the &ldquo;<B><I>Certificate
of Formation</I></B>&rdquo;). The time specified on such Texas Certificate, 10:59 p.m. Central Time on August 31, 2025, shall be the &ldquo;<B><I>Effective
Time</I></B>&rdquo;. Simultaneously with the filing of the Texas Certificate, the Converting Entity is authorized and empowered to take
any such actions as may be necessary or prudent in connection with the Conversion under the DGCL, including the filing of a Certificate
of Conversion with the Secretary of State of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify">3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Effects
of the Conversion</U>. The Conversion will have the effects set forth in the TBOC and, to the extent necessary, the DGCL, including without
limitation the effects set forth in <U>Section 1(c)</U> of this Plan. The Converted Entity will be responsible for the payment of all
of the Converting Entity&rsquo;s fees and franchise taxes and will be responsible for all of its debts and liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify">4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Governance
of the Converted Entity</U>. On and after the Effective Time, the affairs of the Converted Entity shall be governed in accordance with
the TBOC and the Certificate of Formation, and the Bylaws of the Converted Entity in substantially the form attached hereto as <U>Exhibit
B</U>. Immediately after the Effective Time, the directors and officers of the Converting Entity shall continue as the directors and officers
of the Converted Entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify">5.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Foreign
Qualifications of the Converted Entity</U>. For the purpose of authorizing the Converted Entity to do business in any state, territory
or dependency of the United States, including, but not limited to, Delaware, or in any foreign country in which it is necessary or expedient
for the Converted Entity to transact business, the officers of the Converted Entity are hereby authorized and empowered to appoint and
substitute all necessary agents or attorneys for service of process, to designate and to prepare, execute, and file, for and on behalf
of the Converted Entity, all necessary certificates, reports, powers of attorney, and other instruments as may be required by the laws
of such state, territory, dependency or foreign country to authorize the Converted Entity to transact business therein, and whenever it
is expedient for the Converted Entity to cease doing business therein and withdraw therefrom, to revoke any appointment of agent or attorney
for service of process, and to file such certificates, reports, revocation of appointment or surrender of authority as may be necessary
to terminate the authority of the Converted Entity to do business in any such state, territory, dependency or foreign country, and all
actions taken by the officers of the Converted Entity prior to the Effective Time in furtherance of this <U>Section 5</U> shall be, and
each of them hereby is, approved, ratified and confirmed in all respects as the proper acts and deeds of the Converted Entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify">6.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Third
Party Beneficiaries</U>. This Plan shall not confer any rights or remedies upon any person or entity other than as expressly provided
herein. It being understood that, notwithstanding anything to the contrary in this Plan, no provision of this Plan is intended to, or
does, confer any rights or remedies on any current or former employee or other service provider of the Converting Entity (nor any other
individual associated therewith) and none of such individuals shall be regarded for any purpose as a third party beneficiary to this Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify">7.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Severability</U>.
Whenever possible, each term and provision of this Plan will be interpreted in such manner as to be effective and valid under applicable
law, but if any term or provision of this Plan is held to be prohibited by or invalid under applicable law or in any jurisdiction, such
term or provision will be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this
Plan. Upon the determination that any term or provision of this Plan is invalid, illegal or unenforceable, such term or provision shall
be deemed amended in such jurisdiction, without further action on the part of any person or entity, to the limited extent necessary to
render the same valid, legal or enforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Signature Page Follows</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>IN
WITNESS WHEREOF</B></FONT>, Dillard&rsquo;s, Inc., a Delaware corporation, has caused this Plan of Conversion to be executed by its duly
authorized representative as of the date first stated above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Dillard&rsquo;s, Inc.</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">a Delaware corporation</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-align: left; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Alex Dillard</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alex Dillard</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-align: left; text-indent: 0.5in">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>EXHIBIT A</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CERTIFICATE OF FORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Attached)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>EXHIBIT B</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>BYLAWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Attached)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>3
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<DESCRIPTION>EXHIBIT 3.1
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 3.1</B></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CERTIFICATE OF FORMATION<BR>
OF<BR>
DILLARD&rsquo;S, INC.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dillard&rsquo;s, Inc., a corporation
existing under the laws of the State of Texas (hereinafter called the &ldquo;<B><I>Corporation</I></B>&rdquo;), hereby certifies as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.3pt">1. Dillard&rsquo;s, Inc.,
a Delaware corporation (the &ldquo;<B><I>Delaware Corporation</I></B>&rdquo;), with its principal place of business at 1600 Cantrell Road,
Little Rock, Arkansas 72201, was originally incorporated on January 13, 1964.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.3pt">2. The Delaware Corporation
was converted into a corporation incorporated under the laws of the State of Texas under the name &ldquo;Dillard&rsquo;s, Inc.&rdquo;
on August 31, 2025, pursuant to a plan of conversion under which the Delaware Corporation converted to the Corporation.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>FIRST: &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>The name
of the Corporation is Dillard&rsquo;s, Inc. The Corporation is a for-profit corporation.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>SECOND:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>The address
of the initial registered office of the Corporation in the State of Texas is Corporate Center One, 5301 Southwest Parkway, Suite 400
Austin, TX 78735. The name of the Corporation&rsquo;s initial registered agent at such address is Registered Agent Solutions, Inc. The
initial mailing address of the Corporation is 1600 Cantrell Road, Little Rock, Arkansas 72201.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>THIRD:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>The nature
of the business or purposes to be conducted or promoted by the Corporation is to engage in any lawful act or activity for which corporations
may be organized under the Texas Business Organizations Code, as amended (the &ldquo;<B><I>TBOC</I></B>&rdquo;).</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">FOURTH:</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
total number of shares of stock which the Corporation shall have the authority to issue is 310,000,000, consisting of 289,000,000 shares
of Class A Common Stock, which shares shall have a par value of $0.01 per share (the &ldquo;</FONT><I>Class A Common Stock</I><FONT STYLE="font-weight: normal">&rdquo;);
11,000,000 shares of Class B Common Stock, which shares shall have a par value of $0.01 per share ((the &ldquo;</FONT><I>Class B Common
Stock</I><FONT STYLE="font-weight: normal">&rdquo;) and together with the Class A Common Stock, (the &ldquo;</FONT><I>Common Stock</I><FONT STYLE="font-weight: normal">&rdquo;));
and 10,000,000 shares of Preferred Stock, which shares shall have a par value of $0.01 per share (the &ldquo;</FONT><I>Preferred Stock</I><FONT STYLE="font-weight: normal">&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>The designations, preferences, privileges, and voting powers of the shares of each class and the restrictions or qualifications
thereof are as follows:</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>Subject to the other provisions of this Certificate of Formation, the Class A Common Stock and the Class B Common Stock shall have
the right to vote upon all matters which may come before meetings of the shareholders, except that the holders of Class A Common Stock
shall be empowered as a class, by a separate class vote, to elect one-third of the members of the Board of Directors (the &ldquo;</FONT><I>Class
A Directors</I><FONT STYLE="font-weight: normal">&rdquo;), and the holders of Class B Common Stock shall be empowered as a class, by a
separate class vote, to elect two-thirds of the members of the Board of Directors (the &ldquo;</FONT><I>Class B Directors</I><FONT STYLE="font-weight: normal">&rdquo;).
In the event that the number of members constituting the entire Board of Directors is not divisible by three, the Board of Directors shall,
in its discretion, determine the allocation of directorships between the Class A Directors and the Class B Directors, such that the number
of Class A Directors is as near as possible to one-third of the entire Board of Directors and the number of Class B Directors is as near
as possible to two-thirds of the entire Board of Directors. </FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>Each share of Class A Common Stock and Class B Common Stock shall be entitled to participate equally in any dividends (other than
dividends of Common Stock) which may be declared upon the Common Stock, and no dividends may be declared on shares of either class of
Common Stock unless an equal dividend be declared on the shares of the other class; <I>provided, however</I>, that in the case of all
dividends in Common Stock of this Corporation or stock split-ups, the Class A Common Stock shall be entitled only to receive Class A Common
Stock and the Class B Common Stock shall be entitled only to receive Class B Common Stock.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>Shares of Class B Common Stock shall be convertible at any time and from time to time at the option of the holder thereof into
shares of Class A Common Stock at the rate of one share of Class B Common Stock for one share of Class A Common Stock. In order to exercise
the conversion privilege, the holder of any shares of Class B Common Stock shall surrender the certificate or certificates for such shares
accompanied by proper instruments of surrender to the Corporation at its principal office. The certificate or certificates for such shares
of Class B Common Stock shall also be accompanied by written notice to the effect that the holder elects to convert such shares of Class
B Common Stock and stating the name or names to which the certificate or certificates for shares of Class A Common Stock which shall be
issuable on such conversion shall be issued. As promptly as practicable after the receipt of such notice and the surrender of such shares
of Class B Common Stock, the Corporation&rsquo;s Transfer Agent shall issue and deliver to such holder or to the written order of such
holder a certificate or certificates for the number of shares of Class A Common Stock issuable upon conversion of such shares of Class
B Common Stock. Such conversion shall be deemed to have been effected on the date on which such notice shall have been received by the
Corporation and such Class B Common Stock shall have been surrendered as hereinbefore provided. The shares of Class B Common Stock so
converted shall be cancelled and restored to the status of authorized but unissued shares of Class B Common Stock. All shares of Class
A Common Stock which may be issued upon conversion of Class B Common Stock shall, upon issuance, be validly issued, fully paid, and non-assessable
by the Corporation.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>In the case of the issuance of any shares of stock as a dividend upon the shares of Class A Common Stock or the shares of Class
B Common Stock, or in the case of any sub-division, split-up, combination, or change of the shares of Class A Common Stock or shares of
Class B Common Stock into a different number of shares of the same or any other class or classes of stock, or in the case of any consolidation
or merger of the Corporation with or into another corporation, or in the case of a conversion of the Corporation, or in the case of any
sale or conveyance to another corporation of the property of the Corporation as an entirety or substantially as an entirety, the conversion
rate as hereinbefore provided shall be appropriately adjusted so that the rights of the holders of shares of Class A Common Stock and
the rights of the holders of shares of Class B Common Stock shall not be diluted as a result of such stock dividend, sub-division, split-up,
combination, change, consolidation, merger, conversion of the Corporation, sale or conveyance. Adjustments in the rate of conversion shall
be calculated to the nearest 1/10 of a share. The Corporation shall not be required to issue fractions of shares of Class A Common Stock
upon conversion of Class B Common Stock. If any fractional interest in a share of Class A Common Stock shall be deliverable upon the conversion
of any shares of Class B Common Stock, the Corporation may purchase such fractional interest for an amount in cash equal to the current
market value of such fractional interest.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>So long as any shares of Class B Common Stock are outstanding, the Corporation shall reserve and keep available out of its duly
authorized but unissued stock, for the purpose of effecting the conversion of the Class B Common Stock as hereinbefore provided, such
number of its duly authorized shares of Class A Common Stock as shall from time to time be sufficient to effect the conversion of all
outstanding shares of Class B Common Stock.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>The holders of shares of Class A Common Stock and the holders of shares of Class B Common Stock shall be entitled to one vote for
each such share on each matter properly submitted to the shareholders on which the holders of shares of Common Stock are entitled to vote.
Except as otherwise required by this Certificate of Formation, and notwithstanding any provision of the TBOC to the contrary, all classes
or series of stock shall only be entitled to vote as a single class or series, and separate voting by class or series is not required,
for the purpose of approving any matter, including in connection with any &ldquo;fundamental action&rdquo; or &ldquo;fundamental business
transaction&rdquo; as defined in the TBOC. Except as otherwise required by this Certificate of Formation, the affirmative vote of the
holders of a majority of the shares of stock then outstanding and entitled to vote on the matter, voting as a single class, shall be required
to approve any &ldquo;fundamental action&rdquo; or &ldquo;fundamental business transaction.&rdquo; Except as otherwise required by the
TBOC or this Certificate of Formation, the holders of shares of Class A Common Stock and the holders of shares of Class B Common Stock
shall not be entitled to vote on any amendment to this Certificate of Formation that relates solely to the terms, number of shares, powers,
designations, preferences, or relative participating, optional or other special rights (including, without limitation, voting rights),
or to qualifications, limitations or restrictions thereon, of one or more outstanding series of Preferred Stock if the holders of such
affected series are entitled, either separately or together with the holders of shares of one more other such series, to vote thereon
pursuant to this Certificate of Formation or pursuant to the TBOC.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(vii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>In addition to the rights of the holders of shares of a class to vote separately as a class as set forth in clause (i) of Subsection
(b) of this Article FOURTH and Subsection (a) of Article SIXTH, the holders of shares of a class of Common Stock shall be entitled to
vote separately by class upon any proposed amendment to this Certificate of Formation that would: (A) increase or decrease the aggregate
number of authorized shares of such class; (B) increase or decrease the par value of the shares of such class; or (C) alter or change
the powers, preferences, or special rights of the shares of such class so as to affect them adversely. If any proposed amendment to this
Certificate of Formation would alter or change the powers, preferences, or special rights of one or more series of any class so as to
affect them adversely, but shall not so affect the entire class, then only the shares of the series so affected by such amendment to this
Certificate of Formation shall be considered a separate class for the purposes of this clause (vii) of Subsection (b) of this Article
FOURTH.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(viii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>The Board of Directors is authorized to provide, out of the unissued shares of Preferred Stock, for one or more series of Preferred
Stock and, with respect to each such series, to fix the number of shares constituting such series and the designation of such series,
the voting powers, if any, of the shares of such series, and the preferences and relative, participating, optional, or other special rights,
if any, and any qualifications, limitations, or restrictions thereof, of the shares of such series. The powers, preferences, and relative,
participating, optional, and other special rights of each series of Preferred Stock, and the qualifications, limitations, or restrictions
thereof, if any, may differ from those of any and all other series at any time outstanding.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>Except as set forth in Subsection (d) of this Article FOURTH, the affirmative vote or consent of the holders of four-fifths of
all classes of stock of the Corporation entitled to vote in elections of directors, considered for purposes of this Article FOURTH as
one class, shall be required (i) for the adoption of any agreement for the merger or consolidation of the Corporation with or into any
other corporation; (ii) to authorize any sale, lease or exchange of all or substantially all of the assets of the Corporation to, or any
sale, lease or exchange to the Corporation or any subsidiary thereof in exchange for securities of the Corporation of any assets of, any
other corporation, person or other entity; or (iii) to authorize dissolution or liquidation of the Corporation. Such affirmative vote
or consent shall be in addition to the vote or consent of the holders of shares of the stock of the Corporation otherwise required by
the TBOC or any agreement between the Corporation and any national securities exchange.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>The provisions of Subsection (c) of this Article FOURTH shall not be applicable to (i) any merger or consolidation of the Corporation
with or into any other corporation, or any sale, lease or exchange of all or substantially all of the assets of the Corporation to, or
any sale, lease or exchange to the Corporation or any subsidiary thereof in exchange for securities of the Corporation of any assets of,
any other corporation, or to liquidation or dissolution, if the Board of Directors shall by resolution have approved a memorandum of understanding
with such other corporation with respect to and substantially consistent with such transaction or such liquidation or dissolution; or
(ii) any merger or consolidation of the Corporation with, or any sale, lease or exchange to the Corporation or any subsidiary thereof
of any of the assets of, any other corporation of which a majority of the outstanding shares of all classes of stock entitled to vote
in elections of directors is owned of record or beneficially by the Corporation and its subsidiaries.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>No amendment to this Certificate of Formation shall amend, alter, change or repeal any of the provisions of Subsections (c) and
(d) of this Article FOURTH, unless the amendment effecting such amendment, alteration, change or repeal shall receive the affirmative
vote or consent of the holders of four-fifths of all classes of stock of the Corporation entitled to vote in elections of directors, considered
for the purposes of this Article FOURTH as one class.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 0.5in">FIFTH:</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Corporation affirmatively elects to be governed by Section 21.419 of the TBOC and any successor provision thereto. During any time that
the Corporation has its Class A Common Stock listed on a national securities exchange (as defined in Section 1.002(55-a) of the TBOC)
or has 500 or more shareholders, no shareholder (as defined in Section 21.551(2) of the TBOC) of the Corporation may institute or maintain
a derivative proceeding in the right of the Corporation unless such shareholder, at the time the derivative proceeding is instituted,
holds at least 3% of the outstanding shares of the Corporation.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Corporation affirmatively elects to be governed by Section 21.373 of the TBOC during any time on or after September 1, 2025 that (i) the
Corporation&rsquo;s principal office is located in the State of Texas or (ii) the Corporation is admitted to listing on a stock exchange
that (A) has its principal office in the State of Texas and (B) has received approval by the securities commissioner of the State of Texas
under Subchapter C, Chapter 4005, Government Code of the State of Texas.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify; text-indent: 0.5in">SIXTH:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 6pt; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>The business and affairs of the Corporation shall be managed by or under the direction of the Board of Directors. The number of
directors of the Corporation shall be fixed solely as specified in the bylaws of the Corporation (the &ldquo;</FONT><I>Bylaws</I><FONT STYLE="font-weight: normal">&rdquo;).
Such number may from time to time be increased or decreased in such manner as may be prescribed by the Bylaws. In no event shall the number
of directors be less than the minimum number prescribed by the TBOC. The election of directors need not be by written ballot. There shall
be no qualifications on directors except that the holders of shares of Class A Common Stock, voting as a class, shall be entitled to vote
to adopt Bylaws fixing qualifications for the directors elected by such class (but not qualifications for the directors elected by any
other class), and the holders of shares of Class B Common Stock, voting as a class, shall be entitled to vote to adopt Bylaws fixing qualifications
for the directors elected by such class (but not qualifications for the directors elected by any other class). These special voting rights
are granted in addition to the voting rights of such class provided in Article FOURTH of this Certificate of Formation. Any amendment
to the immediately preceding two sentences shall require a class vote of each of the holders of shares of Class A Common Stock and the
holders of shares of Class B Common Stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>The
Board of Directors is expressly authorized and empowered to alter, amend and repeal the Bylaws or adopt new Bylaws. The shareholders
may, by the vote of the holders of not less than four-fifths of all classes of stock of the Corporation entitled to vote in the election
of directors, make additional Bylaws and alter, amend and repeal any Bylaws, whether such Bylaws were originally adopted by the shareholders
or otherwise; <I>provided, however</I>, that nothing in this Subsection (b) of this Article SIXTH shall affect the right of shareholders
to set qualifications for directors as provided in the preceding Subsection (a) of this Article SIXTH. For the avoidance of doubt, the
adoption, alteration, amendment or repeal of any Bylaws fixing qualifications for a class of directors must be approved by the affirmative
vote of the majority of the shares of the relevant class present in person or represented by proxy and entitled to vote on such adoption,
alteration, amendment or repeal of the applicable Bylaws pursuant to Subsection (a) of this Article SIXTH.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>Any director elected or appointed by a class of shareholders may be removed by the shareholders of that class at any time in such
manner as shall be provided in the Bylaws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>The names and addresses of the directors constituting the initial Board of Directors are as follows:</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 94%; border-collapse: collapse; margin-left: 0.5in">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; width: 47%; font-weight: bold">Name</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; width: 50%; font-weight: bold">Address</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239; </FONT>James I. Freeman</FONT></TD>
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">1600 Cantrell Road, Little Rock, Arkansas 72201</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239; </FONT>Rob C. Holmes</FONT></TD>
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">1600 Cantrell Road, Little Rock, Arkansas 72201</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239; </FONT>Reynie Rutledge</FONT></TD>
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">1600 Cantrell Road, Little Rock, Arkansas 72201</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239; </FONT>J.C. Watts, Jr.</FONT></TD>
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">1600 Cantrell Road, Little Rock, Arkansas 72201</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239; </FONT>Nick White</FONT></TD>
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">1600 Cantrell Road, Little Rock, Arkansas 72201</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239; </FONT>Robert C. Connor</FONT></TD>
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">1600 Cantrell Road, Little Rock, Arkansas 72201</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239; </FONT>William E. (Chip) Connor, II</FONT></TD>
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">1600 Cantrell Road, Little Rock, Arkansas 72201</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239; </FONT>Alex Dillard</FONT></TD>
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">1600 Cantrell Road, Little Rock, Arkansas 72201</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239; </FONT>Mike Dillard</FONT></TD>
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">1600 Cantrell Road, Little Rock, Arkansas 72201</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239; </FONT>William Dillard, II</FONT></TD>
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">1600 Cantrell Road, Little Rock, Arkansas 72201</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239; </FONT>William Dillard, III</FONT></TD>
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">1600 Cantrell Road, Little Rock, Arkansas 72201</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239; </FONT>H. Lee Hastings, III</FONT></TD>
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">1600 Cantrell Road, Little Rock, Arkansas 72201</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239; </FONT>Denise Mahaffy</FONT></TD>
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">1600 Cantrell Road, Little Rock, Arkansas 72201</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239; </FONT>Drue Matheny</FONT></TD>
    <TD STYLE="white-space: nowrap; font-weight: bold"><FONT STYLE="font-weight: normal">1600 Cantrell Road, Little Rock, Arkansas 72201</FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in">SEVENTH:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-weight: normal">The
Corporation is to have perpetual existence.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in">EIGHTH:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Except
as otherwise expressly provided by the terms of any series of Preferred Stock permitting the holders of such series of the Preferred Stock
to call a special meeting of the holders of such series, special meetings of shareholders of the Corporation may be called only by the
Board of Directors, the Chairman of the Board of Directors, the Chief Executive Officer, the President, or the holders of not less than
50% (or, if lower, the highest percentage of ownership that may be set under the TBOC) of the Corporation&rsquo;s outstanding shares of
capital stock entitled to vote at such special meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Advance
notice of shareholder nominations for the election of directors and of business to be brought by shareholders before any meeting of the
shareholders of the Corporation shall be given in the manner provided in the Bylaws. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.95pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NINTH:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>To the fullest extent permitted by the TBOC, as it presently exists or may hereafter be amended from time to time, a director or
officer of the Corporation shall not be personally liable to the Corporation or its shareholders for monetary damages for breach of fiduciary
duty as a director or officer. If the TBOC is amended to authorize corporate action further eliminating or limiting the personal liability
of directors or officers, then the liability of a director or officer of the Corporation shall be eliminated or limited to the fullest
extent permitted by the TBOC, as so amended. Any repeal or amendment of this Subsection (a) of this Article NINTH by the shareholders
of the Corporation or by changes in law, or the adoption of any other provision of this Certificate of Formation inconsistent with this
Subsection (a) of this Article NINTH will, unless otherwise required by the TBOC, be prospective only (except to the extent such amendment
or change in law permits the Corporation to further limit or eliminate the liability of directors or officers) and shall not adversely
affect any right or protection of a director of officer of the Corporation existing at the time of such repeal or amendment or adoption
of such inconsistent provision with respect to acts or omissions occurring prior to such repeal or amendment or adoption of such inconsistent
provision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.95pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>To the fullest extent permitted by the TBOC, as the same now exists or may hereafter be amended from time to time, the Corporation
is authorized to indemnify, and provide advancement of expenses to, its directors, officers, employees and agents (and any other persons
to which the TBOC permits the Corporation to provide indemnification) through provisions in the Bylaws, agreements with such directors,
officers, employees, agents or other persons, the vote of shareholders or disinterested directors or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.95pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><B>TENTH:</B>
&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Except as otherwise provided by the TBOC, no action required to be taken or which may be taken at any annual or special meeting of
shareholders of the Corporation may be taken without a meeting, and the power of shareholders to consent in writing, without a
meeting, to the taking of any action is specifically denied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><B>ELEVENTH:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">(a)<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</B>Unless
the Corporation consents in writing to the selection of an alternative forum, the Business Court in the First Business Court Division
of the State of Texas (the &ldquo;<B><I>Business Court</I></B>&rdquo;) (or, if the Business Court determines that it lacks jurisdiction,
the federal district court for the Northern District of Texas, Dallas Division) shall, to the fullest extent permitted by the TBOC, be
the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the Corporation, (ii) any action asserting
a claim for or based on a breach of a fiduciary duty owed by any current or former director, officer, other employee, agent or shareholder
of the Corporation to the Corporation or the Corporation&rsquo;s shareholders, including a claim alleging the aiding and abetting of such
a breach of fiduciary duty, (iii) any action arising pursuant to any provision of the TBOC or this Certificate of Formation or the Bylaws
or as to which the TBOC confers jurisdiction on the Business Court, (iv) any action to interpret, apply, enforce or determine the validity
of this Certificate of Formation or the Bylaws, (v) any action asserting a claim related to or involving the Corporation that is governed
by the internal affairs doctrine, (vi) any action asserting an &ldquo;internal entity claim&rdquo; as that term is defined in Section
2.115 of the TBOC, or (vii) any other action within the jurisdiction of the Business Court, including any claims within the supplemental
jurisdiction of the Business Court. Any person or entity purchasing or otherwise acquiring or holding any interest in shares of stock
of the Corporation shall be deemed to have notice of, and have consented to, the provisions of this Subsection (a) of this Article ELEVENTH,
and shall be deemed to have irrevocably and unconditionally agreed that the Business Court shall be the sole and exclusive forum for the
resolution of the foregoing disputes to the fullest extent permitted by the TBOC. If any action the subject matter of which is within
the scope of this Subsection (a) of this Article ELEVENTH is filed in a court other than the Business Court (or, if the Business Court
determines that it lacks jurisdiction, the federal district court for the Northern District of Texas, Dallas Division) (a &ldquo;<B><I>Foreign
Action</I></B>&rdquo;) by or in the name of any shareholder, such shareholder shall be deemed to have notice of, and have consented to,
(y) the exclusive personal jurisdiction of the Business Court (or, if the Business Court determines that it lacks jurisdiction, the federal
district court for the Northern District of Texas, Dallas Division) in connection with any action brought in any such court to enforce
this Subsection (a) of this Article ELEVENTH and (z) having service of process made upon such shareholder in any such action by service
upon such shareholder&rsquo;s counsel in the Foreign Action as agent for such shareholder. The existence of any prior consent to, or selection
of, an alternative forum by the Corporation shall not act as a waiver of the Corporation&rsquo;s ongoing consent right as set forth in
this Subsection (a) of this Article ELEVENTH with respect to any current or future actions or claims. Failure to enforce the foregoing
provisions would cause the Corporation irreparable harm and the Corporation shall be entitled to equitable relief, including injunctive
relief and specific performance, to enforce the foregoing provisions. Unless the Corporation consents in writing to the selection of an
alternative forum, the federal district courts of the United States of America shall be the exclusive forum for the resolution of any
complaint asserting a cause of action arising under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as
amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>ANY PERSON OR ENTITY PURCHASING OR OTHERWISE ACQUIRING OR HOLDING ANY INTEREST IN SHARES OF STOCK OF THE CORPORATION SHALL BE DEEMED
TO HAVE IRREVOCABLY AND UNCONDITIONALLY WAIVED ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL ACTION, PROCEEDING, CAUSE OF ACTION
OR COUNTERCLAIM ASSERTING AN &ldquo;INTERNAL ENTITY CLAIM&rdquo; AS THAT TERM IS DEFINED IN SECTION 2.115 OF THE TBOC, AND TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY OTHER LEGAL ACTION, PROCEEDING, CAUSE OF ACTION OR COUNTERCLAIM WITHIN THE SCOPE OF SUBSECTION
(a) OF THIS ARTICLE ELEVENTH.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-indent: 35.95pt"><B>IN WITNESS WHEREOF, </B>the Corporation
has caused this certificate to be signed by its duly authorized representative as of this 19<SUP>th</SUP> day of August, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Alex Dillard</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Alex Dillard</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">President</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-3.2
<SEQUENCE>4
<FILENAME>tm2524002d1_ex3-2.htm
<DESCRIPTION>EXHIBIT 3.2
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 3.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BYLAWS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">OF</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DILLARD&rsquo;S, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BYLAWS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">OF</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DILLARD&rsquo;S, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE I</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">OFFICES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 1. The initial registered
office shall be in the City of Austin, County of Travis, State of Texas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 2. Dillard&rsquo;s,
Inc. (the &ldquo;<B><I>Corporation</I></B>&rdquo;) may also have offices at such other places both within and without the State of Texas
as the Board of Directors may from time to time determine or the business of the Corporation may require.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE II</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MEETINGS OF SHAREHOLDERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 1. All meetings of
the shareholders shall be held in the City of Little Rock, State of Arkansas, at such place as may be fixed from time to time by the Board
of Directors, or at such other place either within or without the State of Texas as shall be designated from time to time by the Board
of Directors and stated in the notice of the meeting. The Board of Directors may, in its discretion, determine that the meeting may be
held solely by means of remote communication. If authorized by the Board of Directors, and subject to any guidelines and procedures adopted
by the Board of Directors, shareholders not physically present at a shareholders&rsquo; meeting may participate in the meeting by means
of remote communication and may be considered present in person and may vote at the meeting, whether held at a designated place or solely
by means of remote communication, subject to the conditions imposed by applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 2. Annual meetings
of shareholders shall be held on such date and time as shall be designated from time to time by the Board of Directors and stated in the
notice of the meeting, at which meeting the shareholders shall elect a Board of Directors and transact such other business as may properly
be brought before the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 3. Written notice
of the annual meeting stating the place, date and hour of the meeting shall be given to each shareholder entitled to vote at such meeting
not less than ten (10) nor more than sixty (60) days before the date of the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 4. The officer who
has charge of the stock ledger of the Corporation shall prepare, no later than the eleventh (11th) day before every meeting of shareholders,
a complete list of the shareholders entitled to vote at the meeting, arranged in alphabetical order, and showing the address of each shareholder,
the type of shares held by each shareholder, the number of shares held by each shareholder, and the number of votes that each shareholder
is entitled to if the number of votes is different from the number of shares held. Such list shall be open to the examination of any shareholder,
for any purpose germane to the meeting, during ordinary business hours, for a period of at least ten (10) days prior to the meeting, at
the registered office or the principal executive office of the Corporation. The original share transfer records shall be prima-facie evidence
of the shareholders entitled to examine the list and to vote at any meeting of shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 5. Special meetings
of the shareholders, for any purpose or purposes, unless otherwise prescribed by statute or by the certificate of formation of the Corporation
(the &ldquo;<B><I>Certificate of Formation</I></B>&rdquo;), may be called by the Board of Directors, the Chairman of the Board of Directors,
the Chief Executive Officer, the President, or the shareholders as provided in the Certificate of Formation. Only business within the
purpose or purposes described in the notice may be conducted at a special meeting of the shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 6. Written notice
of a special meeting stating the place, date and hour of the meeting and the purpose or purposes for which the special meeting is called,
shall be given not less than ten (10) nor more than sixty (60) days before the date of the meeting, to each shareholder entitled to vote
at such meeting. Notwithstanding the foregoing, notice of a shareholder meeting regarding a fundamental business transaction (as defined
in the Texas Business Organizations Code (the &ldquo;<B><I>TBOC</I></B>&rdquo;)) must (a) be given to each shareholder of the Corporation
not later than twenty-one (21) days prior to the meeting, regardless of whether the shareholder is entitled to vote on the matter, and
(b) state that the purpose, or one of the purposes, of the meeting is to consider a fundamental business transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 7.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a) Business at Meetings
of Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(1) The proposal of business
to be considered by the shareholders may be made at an annual meeting of shareholders only (i) pursuant to the Corporation&rsquo;s notice
of meeting (or any supplement thereto), (ii) by or at the direction of the Board of Directors or (iii) by any shareholder of the Corporation
who was a shareholder of record of the Corporation at the time the notice provided for in this Section 7 is delivered to the Secretary
of the Corporation, who (A) is entitled to vote at the meeting, (B) as applicable, is eligible to submit a proposal (as determined pursuant
to Subsection (b) of Article FIFTH of the Certificate of Formation (any shareholder satisfying the criteria described in (A) and (B),
an &ldquo;<B><I>Eligible Shareholder</I></B>&rdquo;), and (C) complies with the notice procedures set forth in this Section 7.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(2) For business to be properly
brought before an annual meeting by an Eligible Shareholder pursuant to clause (iii) of paragraph (a)(1) of this Section 7, the Eligible
Shareholder must have given timely notice thereof in writing to the Secretary of the Corporation and any such proposed business must constitute
a proper matter for shareholder action. To be timely with respect to an annual meeting, an Eligible Shareholder&rsquo;s notice shall be
delivered to the Secretary at the principal executive offices of the Corporation not later than the close of business on the ninetieth
(90<SUP>th</SUP>) day nor earlier than the close of business on the one hundred twentieth (120<SUP>th</SUP>) day prior to the first anniversary
of the preceding year&rsquo;s annual meeting; <I>provided</I>, <I>however</I>, that in the event that the date of the annual meeting is
more than thirty (30) days before or more than seventy (70) days after such anniversary date, notice by the Eligible Shareholder must
be so delivered not earlier than the close of business on the one hundred twentieth (120<SUP>th</SUP>) day prior to such annual meeting
and not later than the close of business on the later of the ninetieth (90<SUP>th</SUP>) day prior to such annual meeting or the tenth
(10<SUP>th</SUP>) day following the day on which public announcement of the date of such meeting is first made by the Corporation. In
no event shall the public announcement of an adjournment or postponement of an annual meeting commence a new time period (or extend any
time period) for the giving of an Eligible Shareholder&rsquo;s notice as described above. Such Eligible Shareholder&rsquo;s notice shall
set forth: (A) a brief description of the business desired to be brought before the meeting, the text of the proposal or business (including
the text of any resolutions proposed for consideration and in the event that such business includes a proposal to amend these bylaws of
the Corporation (these &ldquo;<B><I>Bylaws</I></B>&rdquo;), the language of the proposed amendment), the reasons for conducting such business
at the meeting and any material interest in such business of such Eligible Shareholder and the beneficial owner, if any, on whose behalf
the proposal is made; and (B) as to the Eligible Shareholder giving the notice and the beneficial owner, if any, on whose behalf the proposal
is made (i) the name and address of such Eligible Shareholder, as they appear on the Corporation&rsquo;s books, and of such beneficial
owner, (ii) the class and number of shares of capital stock of the Corporation which are owned beneficially and of record by such Eligible
Shareholder and such beneficial owner, (iii) a representation that the shareholder is a holder of record of stock of the Corporation entitled
to vote at such meeting and such shareholder (or a qualified representative of such shareholder) intends to appear in person at the meeting
to propose such business or nomination, and (iv) a representation whether the Eligible Shareholder or the beneficial owner, if any, intends
or is part of a group which intends (x) to deliver a proxy statement and/or form of proxy to holders of at least the percentage of the
Corporation&rsquo;s outstanding capital stock required to approve or adopt the proposal, or as applicable pursuant to Article FIFTH of
the Certificate of Formation, to deliver a proxy statement and/or form of proxy to holders of at least sixty-seven percent of the Corporation&rsquo;s
outstanding capital stock, and/or (y) otherwise to solicit proxies from shareholders in support of such proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(3) Only persons who were
nominated by the Board of Directors or nominated by shareholders in accordance with the procedures set forth in this paragraph (a)(3)
of this Section 7 shall be eligible for election as directors at an annual meeting of shareholders. Nominations of persons for election
to the Board of Directors may be made by or at the direction of the Board of Directors (or an authorized committee thereof) or by any
shareholder of the Corporation entitled to vote for the election of directors at the meeting who complies with the notice procedure set
forth in paragraph (a)(3) of this Section 7. Such nominations, other than those made by or at the direction of the Board of Directors
(or an authorized committee thereof), shall be made pursuant to timely notice in writing to the Secretary of the Corporation. To be timely
with respect to an annual meeting, a shareholder&rsquo;s notice shall be delivered to the Secretary at the principal executive offices
of the Corporation not later than the close of business on the ninetieth (90<SUP>th</SUP>) day nor earlier than the close of business
on the one hundred twentieth (120<SUP>th</SUP>) day prior to the first anniversary of the preceding year&rsquo;s annual meeting; <I>provided</I>,
<I>however</I>, that in the event that the date of the annual meeting is more than thirty (30) days before or more than seventy (70) days
after such anniversary date, notice by the shareholder must be so delivered not earlier than the close of business on the one hundred
twentieth (120<SUP>th</SUP>) day prior to such annual meeting and not later than the close of business on the later of the ninetieth (90<SUP>th</SUP>)
day prior to such annual meeting or the tenth (10<SUP>th</SUP>) day following the day on which public announcement of the date of such
meeting is first made by the Corporation. In no event shall the public announcement of an adjournment or postponement of an annual meeting
commence a new time period (or extend any time period) for the giving of a shareholder&rsquo;s notice as described above. With respect
to an annual or special meeting, such shareholder&rsquo;s notice shall set forth (a) as to each person whom the shareholder proposes to
nominate for election or re-election as a director, (i) the name, age, business address and residence address of such person, (ii) the
principal occupation or employment of such person, (iii) the class and number of shares of the Corporation which are beneficially owned
by such person and (iv) any other information relating to such person that is required, in each case pursuant to Regulation 14A under
the Securities Exchange Act of 1934, as amended (the &ldquo;<B><I>Exchange Act</I></B>&rdquo;) (including without limitation such persons&rsquo;
written consent to being named in the proxy statement as a nominee and to serving as a director if elected); and (b) as to the shareholder
giving the notice, (i) the name and address, as they appear on the Corporation&rsquo;s books, of such shareholder, (ii) the class and
number of shares of the Corporation which are beneficially owned by such shareholder and (iii) a statement confirming whether such shareholder
intends to solicit proxies or votes in support of such director nominee in accordance with Rule 14a-19 under the Exchange Act, including
but not limited to delivering a proxy statement and form of proxy and soliciting at least the percentage of the voting power of all of
the shares of the stock of the Corporation required under applicable law to elect the nominee. Any person nominated by the Board of Directors
(or an authorized committee thereof) for election as a director shall, at the request of the Board of Directors (or such authorized committee),
furnish to the Secretary of the Corporation that information required to be set forth in a shareholder&rsquo;s notice of nomination which
pertains to the nominee. The chairman of the meeting shall, if the facts warrant, determine and declare to the meeting that a nomination
was not made in accordance with the procedures prescribed by these Bylaws, and if he should so determine, he shall so declare to the meeting
and the defective nomination shall be disregarded. Nomination by shareholders holding a particular class of stock may be made only for
directors to be elected by such class.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(4) Notwithstanding the
foregoing provisions of this Section 7, unless otherwise required by law, no shareholder shall solicit proxies in support of director
nominees other than the Corporation&rsquo;s nominees unless such shareholder has compiled with Rule 14a-19 promulgated under the Exchange
Act in connection with the solicitation of such proxies. If (A) any shareholder provides notice pursuant to Rule 14a-19(b) under the Exchange
Act and (B) such shareholder subsequently fails to comply with the requirements of Rule 14a-19(a)(2) or (3) under the Exchange Act (as
determined by the Board of Directors or an officer designated thereby), then the Corporation shall disregard any proxies for any proposed
nominees on the Corporation&rsquo;s proxy card other than the Corporation&rsquo;s nominees, notwithstanding that proxies in favor thereof
may have been received by the Corporation. Upon request by the Corporation, if any shareholder provides notice pursuant to Rule 14a-19(b)
under the Exchange Act, such shareholder shall deliver to the Secretary of the Corporation, no later than five (5) business days prior
to the applicable meeting, reasonable evidence that the requirements of Rule 14a-19(a)(3) under the Exchange Act have been satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">(b) Special Meetings of
Shareholders. Only such business shall be conducted at a special meeting of shareholders as shall have been brought before the meeting
pursuant to the Corporation&rsquo;s notice of meeting in accordance with Section 6 of Article II. The shareholders requesting a special
meeting must, concurrently with the request for a special meeting, provide in writing to the Secretary of the Corporation the same information
set forth in Section 7(a) of Article II that is applicable to a shareholder proposal or nomination at an annual meeting of shareholders
and otherwise comply with the TBOC, the Certificate of Formation, and the other provisions of these Bylaws, as determined by the Board
of Directors. Any determination to be made by the Board of Directors under this Article II may be made by the Board of Directors, a committee
of the Board of Directors, or any officer of the Corporation designated by the Board of Directors or a committee of the Board of Directors,
and any such determination shall be final and binding on the Corporation, its shareholders, and any other applicable person so long as
made in good faith (without any further requirements).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c) General.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(1) Only such business shall
be conducted at a meeting of shareholders as shall have been brought before the meeting in accordance with the procedures set forth in
this Section 7. Except as otherwise provided by the TBOC, the chairman of the meeting shall have the power and duty (i) to determine whether
any business proposed to be brought before the meeting was made or proposed, as the case may be, in accordance with the procedures set
forth in this Section 7 (including whether the shareholder or beneficial owner, if any, on whose behalf the proposal is made solicited
(or is part of a group which solicited) or did not so solicit, as the case may be, proxies in support of such shareholder&rsquo;s proposal
in compliance with such shareholder&rsquo;s representation as required by clause (iv) of paragraph (a)(2)(B) of this Section 7) and (ii)
if any proposed business was not made or proposed in compliance with this Section 7, to declare that such proposed business shall not
be transacted. Notwithstanding the foregoing provisions of this Section 7, if the shareholder (or a qualified representative of the shareholder)
does not appear at the annual or special meeting of shareholders of the Corporation to present such proposed business, such proposed business
shall not be transacted, notwithstanding that proxies in respect of such vote may have been received by the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(2) For purposes of this
Section 7, &ldquo;public announcement&rdquo; shall include disclosure in a press release reported by the Dow Jones Newswires, Associated
Press or comparable national news service or in a document publicly filed by the Corporation with the Securities and Exchange Commission
pursuant to Section 13, 14 or 15(d) of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(3) Notwithstanding the
foregoing provisions of this Section 7, a shareholder shall also comply with all applicable requirements of the Exchange Act and the rules
and regulations thereunder with respect to the matters set forth in this Section 7. Nothing in this Section 7 shall be deemed to affect
any rights of the holders of any series of Preferred Stock to elect directors pursuant to any applicable provisions of the Certificate
of Formation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 8. Unless otherwise
determined by the Board of Directors, the Chairman of the Board of Directors shall act as chairman of any meetings of shareholders. Only
the Board of Directors may determine who shall act as chairman of any meeting of shareholders. The Secretary of the Corporation shall
act as secretary of the meeting. If the Secretary of the Corporation is not present, the chairman of the meeting shall appoint a secretary
of the meeting. The Board of Directors may adopt such rules and regulations for the conduct of the meeting of shareholders as it shall
deem appropriate. Unless otherwise determined by the Board of Directors prior to the meeting, the chairman of the meeting shall determine
the order of business and shall have the authority in his discretion to regulate the conduct of any such meeting, including, without limitation,
(a) convening the meeting, concluding the meeting and rescheduling, recessing or adjourning the meeting, regardless of whether a quorum
is present, to a later date and time and at a place, if any, announced at the meeting, (b) announcing the date and time of the opening
and the closing of the polls for each matter upon which the shareholders will vote, (c) imposing restrictions on the persons (other than
shareholders of record of the Corporation or their duly appointed proxies) who may attend any such meeting, (d) establishing procedures
for the dismissal of business not properly presented, (e) maintaining order at the meeting and safety of those present, (f) restricting
entry to the meeting after the time fixed for commencement, (g) limiting the circumstances in which any person may make a statement or
ask questions, and the time allotted thereto, at any meeting of shareholders, (h) removing any shareholder or any other individual who
refuses to comply with meeting rules, regulations or procedures, (i) restricting the use of audio and video recording devices, cell phones
and other electronic devices, (j) establishing rules, regulations or procedures for compliance with any state or local laws or regulations,
including those concerning safety, health and security, and (k) implementing procedures (if any) requiring attendees to provide the Corporation
advance notice of their intent to attend the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 9. The holders of
a majority of the stock issued and outstanding and entitled to vote thereat, present in person or represented by proxy, shall constitute
a quorum at all meetings of the shareholders for the transaction of business except as otherwise provided by statute or by the Certificate
of Formation. If, however, such quorum shall not be present or represented at any meeting of the shareholders, the shareholders entitled
to vote thereat, present in person or represented by proxy, shall have power to adjourn the meeting from time to time, without notice
other than announcement at the meeting, until a quorum shall be present or represented. At such adjourned meeting at which a quorum shall
be present or represented, any business may be transacted which might have been transacted at the meeting as originally notified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 10. Except as otherwise
provided by the TBOC, the Certificate of Formation or these Bylaws, in all matters other than the election of directors, the affirmative
vote of the majority of the shares of capital stock of the Corporation present in person or represented by proxy at the meeting and entitled
to vote on the subject matter shall be the act of the shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 11. Except as otherwise
provided in the Certificate of Formation, each shareholder shall at every meeting of the shareholders be entitled to one vote in person
or by proxy for each share of capital stock of the Corporation having voting power held by such shareholder. No proxy shall be voted on
after eleven (11) months from its date, unless the proxy provides for a longer period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 12. The Corporation
may, and to the extent required by the TBOC, shall, in advance of any meeting of shareholders, appoint one or more inspectors to act at
the meeting and make a written report thereof. The Corporation may designate one or more persons as alternate inspectors to replace any
inspector who fails to act. If no inspector or alternate is able to act at a meeting of shareholders, the person presiding at the meeting
may, and to the extent required by the TBOC, shall, appoint one or more inspectors to act at the meeting. Each inspector, before entering
upon the discharge of his duties, shall take and sign an oath faithfully to execute the duties of inspector with strict impartiality and
according to the best of his ability. Every vote taken by ballots shall be counted by an inspector or inspectors appointed by the chairman
of the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE III</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DIRECTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 1. The number of directors
which shall constitute the whole Board of Directors shall be not less than nine and not more than twenty-one, as may be determined from
time to time by the Board of Directors. The directors shall be elected at the annual meeting of the shareholders, except as provided in
Section 3 of this Article III, and each director elected shall hold office until such director&rsquo;s successor is duly elected and qualified,
or until such director&rsquo;s earlier death, resignation or removal. Directors need not be shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 2. The holders of
the Corporation&rsquo;s Class A common stock, par value $0.01 per share (the &ldquo;<B><I>Class A Common Stock</I></B>&rdquo;), shall
be empowered as a class, by a separate class vote, to elect one-third of the members of the Board of Directors (the &ldquo;<B><I>Class
A Directors</I></B>&rdquo;), and the holders of the Corporation&rsquo;s Class B common stock, par value $0.01 per share (the &ldquo;<B><I>Class
B Common Stock</I></B>&rdquo;), shall be empowered as a class, by a separate class vote, to elect two-thirds of the members of the Board
of Directors (the &ldquo;<B><I>Class B Directors</I></B>&rdquo;). Class A Directors shall be elected by a plurality of the votes cast
by the holders of the shares of Class A Common Stock present in person or represented by proxy and eligible to vote in such election.
Class B Directors shall be elected by a plurality of the votes cast by the holders of the shares of Class B Common Stock present in person
or represented by proxy and eligible to vote in such election. Class A Director nominees shall be independent persons only. For these
purposes, &ldquo;independent&rdquo; shall mean a person who:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT>&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">has not been employed by the Corporation or an affiliate in any executive capacity within the last five years;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot; </FONT></TD>
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">was not, and is not, a member of a corporation or firm that is one of the Corporation&rsquo;s paid advisers or consultants;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot; </FONT></TD>
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">is not employed by a significant customer, supplier or provider of professional services;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot; </FONT></TD>
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">has no personal services contract with the Corporation;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot; </FONT></TD>
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">is not employed by a foundation or university that receives significant grants or endowments from the Company;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot; </FONT></TD>
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">is not a relative of the management of the Corporation;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot; </FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">is not a shareholder who has signed shareholder agreements legally binding him to vote with management; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot; </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">is not the chairman of a company on which Dillard&rsquo;s, Inc. Chairman of the Board of Directors or Chief Executive Officer is also a board member.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 3. Except as otherwise
provided by the TBOC, vacancies and newly created directorships resulting from any increase in the authorized number of directors may
be filled by a majority of the directors then in office, though less than a quorum, or by a sole remaining director, and the directors
so chosen shall hold office until the next annual election and until their successors are duly elected and qualified, or until their earlier
death, resignation or removal. If there are no directors in office, then an election of directors may be held in the manner provided by
the TBOC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 4. At any special
meeting of the shareholders, duly called as provided in the Certificate of Formation and these Bylaws, any director or directors may be
removed from office, with or without cause, by the affirmative vote of the holders of a majority of the outstanding shares of the particular
class entitled to vote in an election of such director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">(a) Each person who was
or is made a party or is threatened to be made a party to or is otherwise involved in any action, suit or proceeding, whether civil, criminal,
administrative or investigative (hereinafter, a &ldquo;<B><I>proceeding</I></B>&rdquo;), by reason of the fact that such person is or
was a director or officer of the Corporation or, while serving as a director or officer of the Corporation, is or was serving at the request
of the Corporation as a director, officer, employee, agent or other representative (as defined in the TBOC) of another corporation or
of a partnership, joint venture, trust or other enterprise or organization, including service with respect to an employee benefit plan
(hereinafter, an &ldquo;<B><I>indemnitee</I></B>&rdquo;), whether the basis of such proceeding is alleged action in an official capacity
as a director or officer of the Corporation or in any other capacity while serving as a director or officer of the Corporation, shall
be indemnified and held harmless by the Corporation to the fullest extent permitted by the TBOC, as the same exists or may hereafter be
amended (but, in the case of any such amendment, only to the extent that such amendment permits the Corporation to provide broader indemnification
rights than permitted prior thereto), against all expenses, liability and loss (including attorneys&rsquo; fees, judgments, fines, ERISA
excise taxes or penalties and amounts paid in settlement) reasonably incurred by such indemnitee in connection therewith and such indemnification
shall continue as to an indemnitee who has ceased to be a director or officer of the Corporation and shall inure to the benefit of the
indemnitee&rsquo;s heirs, executors and administrators; <I>provided, however</I>, that, except as provided in paragraph (c) of this Section
5 with respect to proceedings to enforce rights to indemnification, the Corporation shall indemnify any such indemnitee in connection
with a proceeding (or part thereof) initiated by such indemnitee only if such proceeding (or part thereof) was authorized by the Board
of Directors of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">(b) The rights to indemnification
conferred in paragraph (a) of this Section 5 shall be a contract right and shall include the right to be paid by the Corporation the expenses
incurred in defending any such proceeding in advance of its final disposition (hereinafter, an &ldquo;<B><I>advancement of expenses</I></B>&rdquo;);
<I>provided, however</I>, that, if the TBOC requires, an advancement of expenses incurred by an indemnitee shall be made only after delivery
to the Corporation of (1) a written affirmation by the indemnitee of the indemnitee&rsquo;s good faith belief that the indemnitee has
met the standard of conduct necessary for indemnification under the TBOC and (2) a written undertaking (hereinafter, an &ldquo;<B><I>undertaking</I></B>&rdquo;),
by or on behalf of such indemnitee, to repay all amounts so advanced if it shall ultimately be determined by final judicial determination
from which there is no further right to appeal (hereinafter, a &ldquo;<B><I>final adjudication</I></B>&rdquo;) or otherwise in accordance
with the TBOC that such indemnitee has not met that standard necessary for indemnification under the TBOC or that indemnification is prohibited
by the TBOC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">(c) If a claim under paragraph
(a) or (b) of this Section 5 is not paid in full by the Corporation within sixty (60) days after a written claim has been received by
the Corporation, except in the case of a claim for an advancement of expenses, in which case the applicable period shall be twenty (20)
days, the indemnitee may at any time thereafter bring suit against the Corporation to recover the unpaid amount of the claim. If successful
in whole or in part in any such suit, or in a suit brought by the Corporation to recover an advancement of expenses pursuant to the terms
of an undertaking, the indemnitee shall be entitled to be paid also the expense of prosecuting or defending such suit. In any suit brought
by the indemnitee to enforce a right to indemnification hereunder (but not in a suit brought by an indemnitee to enforce a right to an
advancement of expenses), it shall be a defense that the indemnitee has not met any applicable standard for indemnification set forth
in the TBOC. In any suit by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the Corporation
shall be entitled to recover such expenses upon a final adjudication that the indemnitee has not met any applicable standard for indemnification
set forth in the TBOC. Neither the failure of the Corporation (including its Board of Directors, independent legal counsel, or its shareholders)
to have made a determination prior to the commencement of such suit that indemnification of the indemnitee is proper in the circumstances
because the indemnitee has met the applicable standard of conduct set forth in the TBOC, nor an actual determination by the Corporation
(including its Board of Directors, independent legal counsel or its shareholders) that the indemnitee has not met such applicable standard
of conduct, shall create a presumption that the indemnitee has not met the applicable standard of conduct or, in the case of such a suit
brought by the indemnitee, shall be a defense to such suit. In any suit brought by the indemnitee to enforce a right of indemnification
or to an advancement of expenses hereunder, or by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking,
the burden of proving that the indemnitee is not to be indemnified, or to such advancement of expenses, under this Section 5 or otherwise
shall be on the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">(d) The rights to indemnification
and to the advancement of expenses conferred in this Section 5 shall not be exclusive of any other right which any person may have or
hereafter acquire under the Corporation&rsquo;s Certificate of Formation or any statute, agreement, vote of shareholders or disinterested
directors or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">(e) The Corporation may
maintain insurance, at its expense, to protect itself and any director, officer, employee or agent of the Corporation or any Corporation,
partnership, joint venture, trust or other enterprise against any expense, liability or loss, whether or not the Corporation would have
the power to indemnify such person against such expense, liability or loss under the TBOC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">(f) The Corporation may,
to the extent authorized from time to time by the Board of Directors, the Chief Executive Officer, the President or the General Counsel,
grant rights to indemnification and rights to advancement of expenses to any current or former employee or agent of the Corporation with
the same or lesser scope and effect as the foregoing indemnification of, and advancement of expenses to, current and former directors
and officers of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MEETINGS OF THE BOARD OF DIRECTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 6. The Board of Directors
of the Corporation may hold meetings, both regular and special, either within or without the State of Texas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 7. The first meeting
of each newly elected Board of Directors shall be held as soon as is practicable after each annual election of directors at the same place
at which regular meetings of the Board of Directors are held, and no notice of such meeting shall be necessary to the newly elected directors
in order to legally constitute the meeting; provided, that a quorum shall be present. Such meeting, however, may be held at such time
and other place as shall be specified in a notice given as hereinafter provided for special meetings of the Board of Directors, or as
shall be specified in a written waiver signed by all of the directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 8. Regular meetings
of the Board of Directors may be held without notice at such time and at such place as shall from time to time be determined by the Board
of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 9. Special meetings
of the Board of Directors may be called by the Chairman of the Board of Directors, the President, or the Secretary on two days&rsquo;
notice to each director, either personally or by mail or, if the director has consented, by electronic transmission. Special meetings
shall be called by the Chairman of the Board of Directors, the President or the Secretary in like manner and on like notice on the written
request of a majority of the directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 10. At all meetings
of the Board of Directors, two-thirds of the directors shall constitute a quorum for the transaction of business at such meeting, and
the act of a majority of the directors present at any meeting at which there is a quorum shall be the act of the Board of Directors except
as may be otherwise specifically provided by the TBOC or by the Certificate of Formation. If a quorum shall not be present at any meeting
of the Board of Directors, the directors present thereat may adjourn the meeting from time to time, without notice other than announcement
at the meeting, until a quorum shall be present.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 11. Unless otherwise
restricted by the Certificate of Formation or these Bylaws, any action required or permitted to be taken at any meeting of the Board of
Directors or of any committee thereof may be taken without a meeting, if all members of the Board of Directors or committee, as the case
may be, consent thereto in writing. After an action is taken, the writing or writings shall be filed with the minutes of proceedings of
the Board of Directors or committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">COMMITTEES OF DIRECTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 12. The Board of Directors
may, by resolution passed by a majority of the whole Board of Directors, designate one or more committees, each committee to consist of
two or more of the directors of the Corporation. Any such committee, to the extent provided in the resolution and subject to any limitation
set forth in the TBOC, shall have and may exercise the powers of the Board of Directors in the management of the business and affairs
of the Corporation, and may authorize the seal of the Corporation to be affixed to all papers which may require it. Such committee or
committees shall have such name or names as may be determined from time to time by resolution adopted by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 13. A majority of
all of the members of any such committee may determine its action and fix the time and place of its meetings, unless the Board of Directors
shall otherwise provide. The Board of Directors shall have power to change the members of any committee at any time, to fill vacancies,
and to discharge any committee, either with or without cause, at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">COMPENSATION OF DIRECTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 14. The Board of Directors
shall have authority to fix the compensation of directors, including fees and reimbursement of expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE IV</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTICES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 1. Whenever, under
the provisions of the TBOC or of the Certificate of Formation or of these Bylaws, notice is required to be given to any director or shareholder,
it shall not be construed to mean personal notice, but such notice may be given by mail, addressed to such director or shareholder, at
his address as it appears on the records of the Corporation, with postage thereon prepaid, and such notice shall be deemed to be given
at the time when the same shall be deposited in the United States mail, or by other means of written communication (including electronic
transmission by the Corporation).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 2. Whenever any notice
is required to be given under the provisions of the TBOC or of the Certificate of Formation or of these Bylaws, a waiver thereof in writing,
signed by the person or persons entitled to said notice, whether before or after the time stated therein, shall be deemed equivalent thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE V</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">OFFICERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 1. The officers of
the Corporation shall be chosen by the Board of Directors and shall be a Chief Executive Officer, a President, a Vice-President, a Secretary
and a Treasurer. The Board of Directors may, by resolution, designate the Chairman of the Board of Directors as an officer of the Corporation.
The Board of Directors may also choose additional Vice-Presidents, one or more Vice-Chairmen of the Board of Directors, and one or more
Assistant Secretaries and Assistant Treasurers. Any number of offices may be held by the same person, unless the Certificate of Formation
or these Bylaws otherwise provide. The Board of Directors may, by resolution, appoint two (2) persons to the same office, such that an
officer position may be filled by two (2) individuals serving simultaneously, with the titles of such persons to be as designated by the
Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 2. The Board of Directors,
at its first meeting after each annual meeting of shareholders, shall choose a Chief Executive Officer, a President, one or more Vice-Presidents,
a Secretary and a Treasurer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 3. The Board of Directors
may appoint such other officers and agents as it shall deem necessary, who shall hold their offices for such terms and shall exercise
such powers and perform such duties as shall be determined from time to time by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 4. The officers of
the Corporation shall hold office until their successors are chosen and qualified, or until their earlier death, resignation or removal.
Any officer elected or appointed by the Board of Directors may be removed with or without cause at any time by the affirmative vote of
a majority of the Board of Directors. Any vacancy occurring in any office of the Corporation shall be filled by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THE CHIEF EXECUTIVE OFFICER</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 5. The principal executive
officer of the Corporation shall be the Chief Executive Officer. Subject to the direction of the Board of Directors, the Chief Executive
Officer of the Corporation shall have, and exercise, direct charge of, and general supervision over, the business and affairs of the Corporation.
He shall from time to time report to the Board of Directors all matters within his knowledge that the interests of the Corporation may
require to be brought to its notice, and shall also have such other powers and perform such other duties as may be specifically assigned
to him from time to time by the Board of Directors. The Chief Executive Officer shall see that all resolutions and orders of the Board
of Directors are carried into effect, and in connection with the foregoing, shall be authorized to delegate to the other officers such
of his powers and such of his duties as he may deem to be advisable. The Chief Executive Officer shall possess the power to sign all contracts,
certificates and other instruments of the Corporation as the Board of Directors from time to time may prescribe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THE PRESIDENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 6. The President of
the Corporation shall perform such duties as may be assigned to him from time to time by the Board of Directors. Subject to the direction
of the Board of Directors, he shall perform all duties incident to the office of a president in a corporation organized under Texas law.
The President shall see that all resolutions and orders of the Board of Directors are carried into effect, and in connection with the
foregoing, shall be authorized to delegate to the other officers such of his powers and such of his duties as he may deem to be advisable.
The President shall execute bonds, mortgages and other contracts requiring the seal, under the seal of the Corporation, except where required
or permitted by the TBOC to be otherwise signed and executed and except where the signing and execution thereof shall be expressly delegated
by the Board of Directors to some other officer or agent of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THE VICE-PRESIDENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 7. In the absence
of the President or in the event of his inability or refusal to act, the Vice-President (or in the event there be more than one Vice-President,
the Vice-Presidents in the order designated, or in the absence of any designation, then in the order of their election) shall perform
the duties of the President, and when so acting, shall have all the powers of and be subject to all the restrictions upon the President.
The Vice-Presidents shall perform such other duties and have such other powers as the Board of Directors may from time to time prescribe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THE SECRETARY AND ASSISTANT SECRETARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 8. The Secretary shall
attend all meetings of the Board of Directors and all meetings of the shareholders and record all the proceedings of the meetings of the
Corporation and of the Board of Directors in a book to be kept for that purpose and shall perform like duties for the standing committees
when required. He shall give, or cause to be given, notice of all meetings of the shareholders and special meetings of the Board of Directors,
and shall perform such other duties as may be prescribed by the Board of Directors or President, under whose supervision he shall be.
He shall have custody of the corporate seal of the Corporation and he, or an Assistant Secretary, shall have authority to affix the same
to any instrument requiring it and when so affixed, it may be attested by his signature or by the signature of such Assistant Secretary.
The Board of Directors may give general authority to any other officer to affix the seal of the Corporation and to attest the affixing
by his signature.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 9. The Assistant Secretary,
or if there be more than one, the Assistant Secretaries in the order determined by the Board of Directors (or if there be no such determination,
then in the order of their election), shall, in the absence of the Secretary or in the event of his inability or refusal to act, perform
the duties and exercise the powers of the Secretary and shall perform such other duties and have such other powers as the Board of Directors
may from time to time prescribe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THE TREASURER AND ASSISTANT TREASURERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 10. The Treasurer
of the Corporation shall have the custody of the Corporation&rsquo;s funds and securities and shall keep full and accurate accounts of
receipts and disbursements in books belonging to the Corporation and shall deposit all monies and other valuable effects in the name and
to the credit of the Corporation, in such depositories as may be designated by the Board of Directors or by any officer authorized by
the Board of Directors to make such designation. The Treasurer shall exercise such powers and perform such duties as generally pertain
or are necessarily incident to his office and shall perform such other duties as may be specifically assigned to him from time to time
by the Board of Directors, the Chief Executive Officer or the President. The Treasurer may sign and execute in the name of the Corporation
deeds, mortgages, bonds, contracts or other instruments authorized by the Board of Directors and may execute and deliver such documents,
certificates and such other instruments that the Board of Directors has authorized to be executed and delivered, except in cases where
the execution and delivery thereof shall be expressly delegated to another officer or as otherwise required by law to be executed and
delivered by another person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 11. The Assistant
Treasurer, or if there shall be more than one, the Assistant Treasurers in the order designated by the Board of Directors (or if there
be no such designation, then in the order of their election), shall, in the absence of the Treasurer or in the event of his inability
or refusal to act, perform the duties and exercise the powers of the Treasurer and shall perform such other duties and have such other
powers as the Board of Directors may from time to time prescribe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE VI</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CERTIFICATES OF STOCK</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Section 1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">(a) The shares of stock
of the Corporation shall be either certificated or uncertificated, as determined by the Board of Directors. Each such share of stock may
be issued in a book-entry form and otherwise eligible for registration under a direct registration system.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">(b) Every holder of duly
issued certificated shares of stock in the Corporation shall be entitled to have a certificate, signed by, or in the name of the Corporation
by, the Chief Executive Officer or the President or a Vice-President, and the Treasurer or an Assistant Treasurer or the Secretary or
an Assistant Secretary of the Corporation, certifying the number of shares owned by the holder in the Corporation. If the Corporation
shall be authorized to issue more than one class of stock or more than one series of any class, each certificate representing a class
or series of stock that is issued by the Corporation must conspicuously state on the front or back of the certificate the designations,
preferences, limitations and relative rights of such class or series of stock, to the extent they have been determined, and the authority
of the governing authority to make those determinations as to subsequent series, provided that, except as otherwise provided in the TBOC,
in lieu of the foregoing requirements, there may be set forth on the face or back of the certificate which the Corporation shall issue
a statement that the information regarding the designations, preferences, limitations and relative rights of such class or series of stock,
to the extent they have been determined, and the authority of the governing authority to make those determinations as to subsequent series,
is stated in the Corporation&rsquo;s governing documents and that the Corporation, on written request to the Corporation&rsquo;s registered
office or principal executive office, will provide a free copy of such information to the record holder of the certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 2. If a certificate
is countersigned (1) by a transfer agent other than the Corporation or its employee, or, (2) by a registrar other than the Corporation
or its employee, any other signature on the certificate may be facsimile. In case any officer, transfer agent or registrar who has signed
or whose facsimile signature has been placed upon a certificate shall have ceased to be such officer, transfer agent or registrar before
such certificate is issued, it may be issued by the Corporation with the same effect as if he were such officer, transfer agent or registrar
at the date of issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">LOST CERTIFICATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 3. The Board of Directors
may direct a new certificate or certificates to be issued in place of any certificate or certificates theretofore issued by the Corporation
alleged to have been lost, stolen or destroyed, upon the making of an affidavit of that fact by the person claiming the certificate of
stock to be lost, stolen or destroyed. When authorizing such issue of a new certificate or certificates, the Board of Directors may, in
its discretion and as a condition precedent to the issuance thereof, require the owner of such lost, stolen or destroyed certificate or
certificates, or his legal representative, to advertise the same in such manner as it shall require and/or to give the Corporation a bond
in such sum as it may direct as indemnity against any claim that may be made against the Corporation with respect to the certificate alleged
to have been lost, stolen or destroyed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 4. Transfers of shares
of capital stock of the Corporation shall be made only on the books of the Corporation by the holder thereof, or by his attorney thereunto
authorized by a power of attorney duly executed and filed with the Secretary of the Corporation or a transfer agent of the Corporation,
if any, and on surrender of the certificate or certificates for such shares properly endorsed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FIXING RECORD DATE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 5. In order that the
Corporation may determine the shareholders entitled to notice of or to vote at any meeting of shareholders or any adjournment thereof,
or entitled to receive payment of any dividend or other distribution or allotment of any rights, or entitled to exercise any rights in
respect of any change, conversion or exchange of stock or for the purpose of any other lawful action, the Board of Directors may fix,
in advance, a record date, which shall not be more than sixty (60) nor less than ten (10) days before the date of such meeting, nor more
than sixty (60) days prior to any other action. A determination of shareholders of record entitled to notice of or to vote at a meeting
of shareholders shall apply to any adjournment of the meeting; <I>provided, however</I>, that the Board of Directors may fix a new record
date for the adjourned meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">REGISTERED SHAREHOLDERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 6. The Corporation
shall be entitled to recognize the exclusive right of a person registered on its books as the owner of shares to receive dividends, and
to vote as such owner, and to hold liable for calls and assessments a person registered on its books as the owner of shares, and shall
not be bound to recognize any equitable or other claim to or interest in such share or shares on the part of any other person, whether
or not it shall have express or other notice thereof, except as otherwise provided by the TBOC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE VII</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">GENERAL PROVISIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DIVIDENDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 1. Dividends upon
capital stock of the Corporation, subject to the provisions of the TBOC and of the Certificate of Formation, if any, may be declared by
the Board of Directors at any regular or special meeting, pursuant to the TBOC. Dividends may be paid in cash, in property, or in shares
of capital stock, subject to the provisions of the Certificate of Formation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FISCAL YEAR</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 1. The fiscal year
of the Corporation shall be fixed by resolution of the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SEAL</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 1. The corporate seal
shall have inscribed thereon the name of the Corporation, the year of its organization and the words &ldquo;Corporate Seal, Texas.&rdquo;
The seal may be used by causing it or a facsimile thereof to be impressed or affixed or reproduced or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE VIII</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AMENDMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 1. The Board of Directors
is expressly authorized and empowered to alter, amend and repeal these Bylaws or adopt new Bylaws. The shareholders may, by the vote of
the holders of not less than four-fifths of all classes of stock of the Corporation entitled to vote in the election of directors, as
one class, make additional Bylaws and alter, amend and repeal any Bylaws, whether such Bylaws were originally adopted by the shareholders
or otherwise; <I>provided, however</I>, that nothing in this Article VIII shall affect the right of shareholders to set qualifications
for directors as provided in the Certificate of Formation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>5
<FILENAME>dds-20250819.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" ?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 6.1a -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
    <!-- Field: Doc-Info; Name: Misc; Value: +aA5w7xRiXgen8uLa3ZcWauAmbOdzZR+GYkxtmB5bZlavyovi1P17i7VRzl2sdAD -->
<schema xmlns="http://www.w3.org/2001/XMLSchema" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:dei="http://xbrl.sec.gov/dei/2025" xmlns:us-gaap="http://fasb.org/us-gaap/2025" xmlns:srt="http://fasb.org/srt/2025" xmlns:srt-types="http://fasb.org/srt-types/2025" xmlns:dds="http://dillards.com/20250819" elementFormDefault="qualified" targetNamespace="http://dillards.com/20250819">
    <annotation>
      <appinfo>
        <link:roleType roleURI="http://dillards.com/role/Cover" id="Cover">
          <link:definition>00000001 - Document - Cover</link:definition>
          <link:usedOn>link:presentationLink</link:usedOn>
          <link:usedOn>link:calculationLink</link:usedOn>
          <link:usedOn>link:definitionLink</link:usedOn>
        </link:roleType>
        <link:linkbaseRef xlink:type="simple" xlink:href="dds-20250819_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Presentation Links" />
        <link:linkbaseRef xlink:type="simple" xlink:href="dds-20250819_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Label Links" />
      </appinfo>
    </annotation>
    <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
    <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
    <import namespace="http://xbrl.sec.gov/dei/2025" schemaLocation="https://xbrl.sec.gov/dei/2025/dei-2025.xsd" />
    <import namespace="http://fasb.org/us-gaap/2025" schemaLocation="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd" />
    <import namespace="http://fasb.org/us-types/2025" schemaLocation="https://xbrl.fasb.org/us-gaap/2025/elts/us-types-2025.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/2022-03-31" schemaLocation="https://www.xbrl.org/dtr/type/2022-03-31/types.xsd" />
    <import namespace="http://xbrl.sec.gov/country/2025" schemaLocation="https://xbrl.sec.gov/country/2025/country-2025.xsd" />
    <import namespace="http://fasb.org/srt/2025" schemaLocation="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd" />
    <import namespace="http://fasb.org/srt-types/2025" schemaLocation="https://xbrl.fasb.org/srt/2025/elts/srt-types-2025.xsd" />
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>6
<FILENAME>dds-20250819_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 6.1a -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel" />
    <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CoverAbstract" xlink:label="dei_CoverAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CoverAbstract" xlink:to="dei_CoverAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CoverAbstract_lbl" xml:lang="en-US">Cover [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentType" xlink:label="dei_DocumentType" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AmendmentDescription" xlink:label="dei_AmendmentDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentDescription" xlink:to="dei_AmendmentDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentDescription_lbl" xml:lang="en-US">Amendment Description</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentRegistrationStatement" xlink:label="dei_DocumentRegistrationStatement" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentRegistrationStatement" xlink:to="dei_DocumentRegistrationStatement_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentRegistrationStatement_lbl" xml:lang="en-US">Document Registration Statement</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentAnnualReport" xlink:label="dei_DocumentAnnualReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAnnualReport" xlink:to="dei_DocumentAnnualReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAnnualReport_lbl" xml:lang="en-US">Document Annual Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentQuarterlyReport" xlink:label="dei_DocumentQuarterlyReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentQuarterlyReport" xlink:to="dei_DocumentQuarterlyReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentQuarterlyReport_lbl" xml:lang="en-US">Document Quarterly Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentTransitionReport" xlink:label="dei_DocumentTransitionReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentTransitionReport_lbl" xml:lang="en-US">Document Transition Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentShellCompanyReport" xlink:label="dei_DocumentShellCompanyReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyReport" xlink:to="dei_DocumentShellCompanyReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyReport_lbl" xml:lang="en-US">Document Shell Company Report</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyEventDate_lbl" xml:lang="en-US">Document Shell Company Event Date</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodStartDate" xlink:to="dei_DocumentPeriodStartDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodStartDate_lbl" xml:lang="en-US">Document Period Start Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
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      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
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      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US">Entity Address, Address Line Two</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressAddressLine3" xlink:label="dei_EntityAddressAddressLine3" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine3" xlink:to="dei_EntityAddressAddressLine3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine3_lbl" xml:lang="en-US">Entity Address, Address Line Three</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressCityOrTown" xlink:label="dei_EntityAddressCityOrTown" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US">Entity Address, City or Town</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US">Entity Address, State or Province</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressCountry" xlink:label="dei_EntityAddressCountry" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCountry_lbl" xml:lang="en-US">Entity Address, Country</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CountryRegion" xlink:label="dei_CountryRegion" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CountryRegion" xlink:to="dei_CountryRegion_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CountryRegion_lbl" xml:lang="en-US">Country Region</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_Extension" xlink:label="dei_Extension" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Extension" xlink:to="dei_Extension_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Extension_lbl" xml:lang="en-US">Extension</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_WrittenCommunications" xlink:label="dei_WrittenCommunications" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_WrittenCommunications_lbl" xml:lang="en-US">Written Communications</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_SolicitingMaterial" xlink:label="dei_SolicitingMaterial" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SolicitingMaterial_lbl" xml:lang="en-US">Soliciting Material</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_PreCommencementTenderOffer" xlink:label="dei_PreCommencementTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementTenderOffer_lbl" xml:lang="en-US">Pre-commencement Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="dei_PreCommencementIssuerTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xml:lang="en-US">Pre-commencement Issuer Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12bTitle_lbl" xml:lang="en-US">Title of 12(b) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_NoTradingSymbolFlag" xlink:label="dei_NoTradingSymbolFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_NoTradingSymbolFlag" xlink:to="dei_NoTradingSymbolFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_NoTradingSymbolFlag_lbl" xml:lang="en-US">No Trading Symbol Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityExchangeName_lbl" xml:lang="en-US">Security Exchange Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_Security12gTitle" xlink:label="dei_Security12gTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12gTitle" xlink:to="dei_Security12gTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12gTitle_lbl" xml:lang="en-US">Title of 12(g) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_SecurityReportingObligation" xlink:label="dei_SecurityReportingObligation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityReportingObligation" xlink:to="dei_SecurityReportingObligation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityReportingObligation_lbl" xml:lang="en-US">Security Reporting Obligation</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AnnualInformationForm" xlink:label="dei_AnnualInformationForm" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AnnualInformationForm" xlink:to="dei_AnnualInformationForm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AnnualInformationForm_lbl" xml:lang="en-US">Annual Information Form</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="dei_AuditedAnnualFinancialStatements" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditedAnnualFinancialStatements" xlink:to="dei_AuditedAnnualFinancialStatements_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditedAnnualFinancialStatements_lbl" xml:lang="en-US">Audited Annual Financial Statements</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Entity Voluntary Filers</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityInteractiveDataCurrent" xlink:label="dei_EntityInteractiveDataCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US">Entity Interactive Data Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntitySmallBusiness" xlink:label="dei_EntitySmallBusiness" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntitySmallBusiness_lbl" xml:lang="en-US">Entity Small Business</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US">Entity Emerging Growth Company</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityExTransitionPeriod" xlink:label="dei_EntityExTransitionPeriod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityExTransitionPeriod" xlink:to="dei_EntityExTransitionPeriod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityExTransitionPeriod_lbl" xml:lang="en-US">Elected Not To Use the Extended Transition Period</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentAccountingStandard" xlink:label="dei_DocumentAccountingStandard" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAccountingStandard" xlink:to="dei_DocumentAccountingStandard_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAccountingStandard_lbl" xml:lang="en-US">Document Accounting Standard</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_OtherReportingStandardItemNumber" xlink:label="dei_OtherReportingStandardItemNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_OtherReportingStandardItemNumber" xlink:to="dei_OtherReportingStandardItemNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_OtherReportingStandardItemNumber_lbl" xml:lang="en-US">Other Reporting Standard Item Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityShellCompany_lbl" xml:lang="en-US">Entity Shell Company</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPublicFloat" xlink:to="dei_EntityPublicFloat_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPublicFloat_lbl" xml:lang="en-US">Entity Public Float</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityBankruptcyProceedingsReportingCurrent" xlink:label="dei_EntityBankruptcyProceedingsReportingCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityBankruptcyProceedingsReportingCurrent" xlink:to="dei_EntityBankruptcyProceedingsReportingCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityBankruptcyProceedingsReportingCurrent_lbl" xml:lang="en-US">Entity Bankruptcy Proceedings, Reporting Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentsIncorporatedByReferenceTextBlock" xlink:label="dei_DocumentsIncorporatedByReferenceTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentsIncorporatedByReferenceTextBlock" xlink:to="dei_DocumentsIncorporatedByReferenceTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentsIncorporatedByReferenceTextBlock_lbl" xml:lang="en-US">Documents Incorporated by Reference [Text Block]</link:label>
    </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>7
<FILENAME>dds-20250819_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 6.1a -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef xlink:type="simple" xlink:href="dds-20250819.xsd#Cover" roleURI="http://dillards.com/role/Cover" />
    <link:presentationLink xlink:type="extended" xlink:role="http://dillards.com/role/Cover" xlink:title="00000001 - Document - Cover">
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>9
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.25.2</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Aug. 19, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Aug. 19,  2025<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--01-31<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-6140<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">Dillard&#8217;s, Inc.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000028917<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">71-0388071<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">1600 Cantrell Road<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Little Rock<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">AR<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">72201<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">501<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">376-5200<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Class A Common Stock<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">DDS<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
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<td>xbrli:normalizedStringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
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<td>dei_</td>
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<td>dei:employerIdItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td>dei:securityTitleItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14a<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
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