#1home, happier K TM First Quarter Fiscal 2021 Earnings Presentation Mark Tritton, President & Chief Executive Officer Gustavo Arnal, Executive Vice President, Chief Financial Officer June 30, 2021 BED BATH& BEYOND#2Forward Looking Statements This presentation contains forward-looking statements within the meaning of Section 21 E of the Securities Exchange Act of 1934 including, but not limited to, the Company's progress and anticipated progress towards its long-term objectives, as well as more generally the status of its future liquidity and financial condition and its outlook for the Company's fiscal 2021 second quarter and for its 2021 fiscal year. Many of these forward-looking statements can be identified by use of words such as may, will, expect, anticipate, approximate, estimate, assume, continue, model, project, plan, goal, preliminary, and similar words and phrases, although the absence of those words does not necessarily mean that statements are not forward-looking. The Company's actual results and future financial condition may differ materially from those expressed in any such forward-looking statements as a result of many factors. Such factors include, without limitation: general economic conditions including the housing market, a challenging overall macroeconomic environment and related changes in the retailing environment; risks associated with the COVID-19 pandemic and the governmental responses to it, including its impacts across the Company's businesses on demand and operations, as well as on the operations of the Company's suppliers and other business partners, and the effectiveness of the Company's actions taken in response to these risks; consumer preferences, spending habits and adoption of new technologies; demographics and other macroeconomic factors that may impact the level of spending for the types of merchandise sold by the Company; civil disturbances and terrorist acts; unusual weather patterns and natural disasters; competition from existing and potential competitors across all channels; pricing pressures; liquidity; the ability to achieve anticipated cost savings, and to not exceed anticipated costs, associated with organizational changes and investments, including the Company's strategic restructuring program and store network optimization strategies; the ability to attract and retain qualified employees in all areas of the organization; the cost of labor, merchandise and other costs and expenses; potential supply chain disruption due to trade restrictions, and other factors such as natural disasters, pandemics, including the COVID-19 pandemic, political instability, labor disturbances, product recalls, financial or operational instability of suppliers or carriers, and other items; the ability to find suitable locations at acceptable occupancy costs and other terms to support the Company's plans for new stores; the ability to establish and profitably maintain the appropriate mix of digital and physical presence in the markets it serves; the ability to assess and implement technologies in support of the Company's development of its omnichannel capabilities; the ability to effectively and timely adjust the Company's plans in the face of the rapidly changing retail and economic environment, including in response to the COVID-19 pandemic; uncertainty in financial markets; volatility in the price of the Company's common stock and its effect, and the effect of other factors, including the COVID-19 pandemic, on the Company's capital allocation strategy; risks associated with the ability to achieve a successful outcome for the Company's business concepts and to otherwise achieve its business strategies; the impact of intangible asset and other impairments; disruptions to the Company's information technology systems, including but not limited to security breaches of systems protecting consumer and employee information or other types of cybercrimes or cybersecurity attacks; reputational risk arising from challenges to the Company's or a third party product or service supplier's compliance with various laws, regulations or standards, including those related to labor, health, safety, privacy or the environment; reputational risk arising from third-party merchandise or service vendor performance in direct home delivery or assembly of product for customers; changes to statutory, regulatory and legal requirements, including without limitation proposed changes affecting international trade; changes to, or new, tax laws or interpretation of existing tax laws; new, or developments in existing, litigation, claims or assessments; changes to, or new, accounting standards; and foreign currency exchange rate fluctuations. Except as required by law, the Company does not undertake any obligation to update its forward-looking statements. BED BATH & BEYOND 2#3Agenda Q1'21 Results Q2'21 & FY 2021 Outlook Transformation Progress Appendix 3#4Q1'21 RESULTS#51Q'21 RESULTS First Quarter Highlights ■ ■ ■ ■ Results within or above Company's previously provided Q1'21 outlook Net Sales of $1.95 B Core Sales increased +73%, above guidance of +65-70% Comp¹ Sales growth of +86% vs. Q1'20 and +3% versus Q1'19 Adjusted Gross Margin of 34.9%, above guidance of approx. 34% Adjusted EBITDA of $86 M, within guidance range of $80 M - $90 M Successfully launched Owned Brands: Nestwell, Haven and Simply Essential ■ 2 BED BATH & BEYOND 2 Next three Owned Brands slated for launch ahead of schedule 5#61Q'21 RESULTS First Quarter Results - Sales & P&L Net Sales $1.95 Billion [+49% vs. Q1'20] Adj. Gross Margin² 34.9% [+820bps vs. Q1'20] [+40bps vs. Q1'19] Core Banner Growth +73% vs. Q1'20 BED BATH & BEYOND Adj. EBITDA $86 Million Note: The Company's four Core banners include Bed Bath & Beyond, buybuy BABY, Harmon Face Values and Decorist. Comp Sales¹ +86% vs. Q1'20 [+3% vs. Q1'19] 2 Adj. Diluted EPS $0.05 6#7Total Net Sales to Comparable Sales - Q1'21 vs. Q1'20 Total Net Sales growth of +49% includes: planned reduction from non-core banner divestitures of -24% Core banner net sales growth of +73% includes: planned reduction from fleet optimization activity of -13% Comparable¹ sales growth of 86% ● 1Q'21 RESULTS ● ● 49% BED BATH & BEYOND Total Net Sales -24% Divestitures Note: The Company's four Core banners include Bed Bath & Beyond, buybuy BABY, Harmon Face Values and Decorist. 73% Core Banner Net Sales (excl. Divestitures) -13% Fleet Optimization 86% Comp Sales 7#8Total Net Sales to Comparable Sales - Q1'21 vs. Q1'19 Total Net Sales of -24% includes: planned reduction from non-core banner divestitures of -18% Core banner net sales of -6% includes: planned reduction from fleet optimization activity of 9% Comparable sales growth of 3% (digital +84%; stores -20%) ● 1Q'21 RESULTS ● ● -24% BED BATH & BEYOND Total Net Sales -18% Divestitures Note: The Company's four Core banners include Bed Bath & Beyond, buybuy BABY, Harmon Face Values and Decorist. -6% Core Banner Net Sales (excl. Divestitures) -9% Fleet Optimization 3% Comp Sales 8#91Q'21 RESULTS Key Drivers of Sales Growth Total Enterprise Bed Bath & Beyond Banner Top 5 Destination Categories at Bed Bath & Beyond Banner Bedding Bath Kitchen Food Prep Indoor Décor Home Organization Destination Category Other Categories Total Bed Bath & Beyond Banner BED BATH & BEYOND Core Sales vs Q1'20 +73% +96% Core Sales vs Q1'20 +128% +147% +59% +112% +127% +100% +88% +96% Comp Sales vs. Q1'19 +3% +3% Comp Sales vs. Q1'19 +6% -1% +15% +1% +5% +7% flat +3% % of Net Sales in Q1'21 18% 10% 21% 9% 6% 65% 35% 100% Increased Digital Penetration Q1'21 38% Q1'20* 66% Q1'19 20% Q1'18 18% *Operated mainly as a digital business in Q1'20 due to store closures as a result of COVID-19 9#101Q'21 RESULTS Gross Margin Bridge - Q1'20 to Q1'21 Q1'21 total enterprise gross margin expansion of +820 bps from product mix improvement due to Owned Brands penetration, cost savings/ leverage from higher sales and improved channel mix 26.7% Q1'20 Gross Margin Note: numbers may not add due to rounding BED BATH & BEYOND 290bps Product Mix 240bps Cost Savings / Leverage +820 bps 290bps Channel Mix / DTC Shipping Expense 34.9% Q1'21 Gross Margin 10#111Q'21 RESULTS Strong Cash & Liquidity Q4'20 Total Cash & Investments $1.4B BED BATH & BEYOND Free Cash Flow -$0.1B 3 Cash Flow used in Financing - $0.1B share repurchases $130M in Q1'21 Q1'21 Total Cash & Investments $1.2B Total Liquidity of $1.9B4 ABL $0.7B Total Cash & Investments $1.2B No Net Debt Bonds $1.2B 11#12FINANCIAL OUTLOOK A#13FINANCIAL OUTLOOK Second Quarter Fiscal 2021 Outlook P&L BED BATH & BEYOND Sales Comp Sales Adjusted Gross Margin Adjusted EBITDA Adjusted EPS Range Note: Adj. gross margin, adj, EBITDA & adj. EPS are non-GAAP financial measures. For a reconciliation to comparable GAAP measures, see Appendix of this presentation. Q2'21 $2.04 B - $2.08 B +low single-digits 35.0% - 36.0% $150 M - $160 M $0.48 $0.55 - Key Considerations: July and August are important sales periods (i.e. Independence Day and Back-to-College) Depreciation & Amortization: $63 M - $65 M Interest Expense: approx. $16 M ▪ Tax Rate: 26% -28% (excluding discrete items) Weighted Average Share Count: approx. 105 M 13#14FINANCIAL OUTLOOK Raising Full Year Fiscal 2021 Outlook P&L Sales BED BATH & BEYOND Comp Sales (Q2'21 – Q4'21) Adjusted Gross Margin (as a percentage of sales) Adjusted SG&A (as a percentage of sales) Adjusted EBITDA Adjusted EPS Range CURRENT ■ $8.2 B - $8.4 B +low single-digit growth Approx. 35% Approx. 31% $520 M-$540 M $1.40 - $1.55 Key Considerations: Depreciation & Amortization: approx. $250 M [updated] ▪ Interest Expense: approx. $63 M - $65 M ▪ Tax Rate: 26% -28% (excluding discrete items) Weighted Average Share Count: approx. 105 M FULL YEAR FISCAL 2021 Note: Adj. gross margin, adj. SG&A, adj, EBITDA & adj. EPS are non-GAAP financial measures. For a reconciliation to comparable GAAP measures, see Appendix of this presentation. PRIOR $8.0B - $8.2B flat Approx. 35% Approx. 31% $500M - $525M NM CHANGE Increased Increased Reaffirmed Reaffirmed Increased Initial 14#15FINANCIAL OUTLOOK Full Year Fiscal 2021 Outlook - Capital Allocation CAPITAL ALLOCATION BED BATH & BEYOND CAPEX Gross Debt-to-EBITDA Ratio Share Repurchase 6 Weighted Average Share Count CURRENT Approx. $400 M FULL YEAR FISCAL 2021 $325 M Approx. 105 M PRIOR Approx. $400 M Faster Improvement to <3.0x Faster Improvement to <3.0x $325 M Approx. 105 M CHANGE Reaffirmed Reaffirmed Reaffirmed Reaffirmed 15#16FINANCIAL OUTLOOK Portfolio & Financial Transformation 2019 Net Sales of $11B [Core Net Sales of $9B] Adj. Gross Margin approx. 33% Adj. EBITDA $465M [Core EBITDA $425M] EPS $0.46 Approx. 126 million ending total shares non-core banner divestitures & store fleet optimization BED BATH & BEYOND up approx. 200 bps up +25% >3x higher >20% reduction through share repurchases; total of $700M 2021 Net Sales $8.2B to $8.4B with +low single-digit comp.growth (Q2'21-Q4'21) Adj. Gross Margin approx. 35% Adj. EBITDA $520M to $540M EPS $1.40 to $1.55 Approx. 100 million* ending total shares *Represents total, ending shares outstanding available for share repurchases. The Company has guided to WEIGHTED AVERAGE SHARES of approximately 105 M related to its FY 2021 EPS guidance. Please refer to slides 13 and 14 for additional details. Note: Adj. gross margin, adj. SG&A, adj, EBITDA & adj. EPS are non-GAAP financial measures. For a reconciliation to comparable GAAP measures, see Appendix of this presentation. 16#17TRANSFORMATION UPDATE CLIVATE MWAM#18TRANSFORMATION UPDATE Launched Significant TRANSFORMATION with pivot in 2020 BED BATH & BEYOND make it easy to feel at home PURPOSE ECC PRINCIPLES customer inspired omni-always people powered performance driven PILLARS & PROFICIENCIES product price promise place people 208 PERFORMANCE sales MISSION re-establish our authority and be the preferred omni-channel home destination driven by teams consistently delivering balanced durable growth margin proficiencies cash flow TSR 18#19TRANSFORMATION UPDATE Key Strategic Initiatives commercial operational Digital-First, Omni-Always Store Remodel & Fleet Optimization Inspirational merchandising assortment including Owned Brands Accelerate growth of buybuy BABY & Harmon Banners Modernize supply chain and technology BED BATH & BEYOND 3-Year Strategic Plan Stores as fulfillment hubs ✓ Omni-always platform Remodel-450 BBB stores ✓Close ~200 BBB stores ✓ Launch 10 BBB Owned Brands ✓ Owned Brand penetration of 30% ✓ Increase BABY sales to $1.5B+ ✓ Reduce store replenishment to 10 days (via RDCs) ✓ New tech roadmap (merch, ERP & supply chain) Fiscal Year 2021 (Year 1) of Transformation ✓ Invest in key projects for enhanced capabilities Approx. 130 to 150 remodels ✓ Approx. 200 BBB closures (cumulative) ✓ Introduce 8 Owned Brands ✓ Launch 6 Owned Brands in 1H21 ✓ Owned brand penetration of 20% ✓ Modernize destination categories & extend value prop ✓ Age up strategy ✓ Plan and begin implementation of two RDCs in NE/West ✓ Initiate new Oracle ERP rollout on-track on-track on-track on-track on-track Q1'21 Snapshot Expanded same-day delivery services via DoorDash ✓ Mobile app enhancements Launched 3 Owned Brands on-track✔ Penetration approx. 2x FY20 ✓ Initiated 26 BBB remodels ✓Closed 16 BBB stores (160 cumulative) V Continued positive comp sales growth Digital penetration of 55% at BABY ✓ On track for NE RDC ✓ Began IT testing and data migration 19#20TRANSFORMATION UPDATE Digital Transformation Three Pillars of Transformation ELEVATE EXPERIENCE: Overhauled websites with new look, reduced steps to checkout and Al-powered search UNLOCK OMNI-ALWAYS: launched BOPIS & curbside pickup services TRANSFORM TO DIGITAL FIRST: Upgraded tools and processes to improve speed to market Note: App data (launches and first-time visitors) relates to Bed Bath & Beyond banner only BED BATH & BEYOND 38% more than 200 million My Offers approximately 16.4 million BB&S approximately 500 thousand 50% of customers Digital Sales penetration welcome to 7507 McKnight Road Open until 9pm Visits to websites App launches Express Checkout First-time app visitors View details, reviews, & more! at the barcode Turkish Modal Eath Towel in Omni + Digital shoppers OND+ 15.99 You could save $4.000% off) Sign Up No 9709 LUXE TO View More Dails & Options#21TRANSFORMATION UPDATE Store Remodels BEFORE AFTER Bee & Wow BED BATH & BEYOND HOME bed duvet covers OVER 3000 welcome Q1'21 Progress FY 2021 Initiated 26 store remodels (after refreshing most stores LY) Initial output of sales exceed estimates Expecting to remodel approx. 130 to 150 stores across US & CAN) 21#22TRANSFORMATION UPDATE Store Fleet Optimization Continuing to position our network for the future: ✓ Disciplined management of inventory and receipts ✓ Partnership with recognized liquidation service ✓ Robust in-store and digital local marketing ✓ Data-driven tracking and monitoring BED BATH & BEYOND Q1'21 Progress FY 2021 BEDBATH& RI ● 16 store closures during the quarter Total of 160 store closures through Q1'21 Expecting to close approx. 200 stores through FY21 22#23TRANSFORMATION UPDATE Assortment Progress: Launched 3 New Owned Brands in Q1'21 Launched April 2021 Launched May 2021 Launched March 2021 nestwell everyday comfort BED BATH & BEYOND haven Escape the noise Simply Essential. Home starts here Canada) IM 23#2419 Owned Brands Sales Penetration Ahead of schedule to reach our Full Fiscal Year 2021 Owned Brands penetration goal 12 FY 2020 approx. 10% BED BATH & BEYOND Q1'21 achieved high-teens percentage CH FY 2021 run rate of 20% FY 2023 GOAL OF 30% 148 24#25TRANSFORMATION UPDATE Launching Next 3 New Owned Brands Ahead of Schedule Launched June 2021 Launching July 2021 our table Start with food. End with love. W BED BATH & BEYOND Launched June 2021 Wild Sage Bring your story to life SQUARED AWAY Solutions for a well-kept home - * 25#26OPERATIONS UPDATE Continued Growth in buybuy Baby Banner #1 specialty baby retailer in markets with a presence #5 retailer in baby registry nationally BED BATH & BEYOND greater than 20% 55% buybuy Positive Net Sales growth vs. Q1'20 Digital penetration driven by BOPIS orders 26#27OPERATIONS UPDATE Supply Chain and Technology Delivering Value ✓ Increased digital capabilities ✓ Flexibility, agility and scalability ✓ Speed to market ✓ More efficient technology operations ✓ Shift spend towards innovation ✓ Improved return on technology investment BED BATH & BEYOND SUPPLY CHAIN TECHNOLOGY PRIOR STATE ▪ 35-day store replenishment ▪ Vendor direct network with consolidation hubs ▪ Inefficiencies driving high, uncompetitive ■ costs Disparate legacy technology Legacy and siloed architecture and applications ▪ Reactive and manually intensive operating model Q1'21 PROGRESS ▪ Addressed first step of our store fulfillment strategy ▪ Selected NE DC location ▪ West DC plans underway ▪ RELEX system implementation underway ▪ Phase 1 of Oracle ERP design complete ▪ Phase 2 of Oracle ERP design underway FUTURE STATE ▪ 10-day store replenishment ▪ 4 regional DCs ▪ Increased standardization to lower total supply chain costs ▪ Cloud-based and scalable infrastructure ▪ New ERP ▪ Automated and agile operating model 27#28TRANSFORMATION UPDATE Unlocking a Virtuous Cycle to Drive Sustainable Value Creation our strategic plan to drive omni-always and improve customer experience will accelerate sales and EBITDA growth operational transformation with disciplined capital investments will unlock cash flow generation ...resulting in strong and sustainable shareholder value creation BED BATH & BEYOND TSR significant value creation operational transformation with disciplined capital investments cash sales and margin strategic omni. always plan 28#29TRANSFORMATION UPDATE Building a Positive Track Record of Performance - Comp Sales >35% Digital Penetration +80% Digital Growth -2% Q1 2017 -2% 0.3% -1% BED BATH & BEYOND <20% Digital Penetration -1% -1% *Company did not disclose comp sales due to COVID-19 related temporary store closures -2% -1% -7% -8% -6% N/A* -49% Net Sales 6% 2% 4% 86% VS. Q1'20 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q3 Q4 Q1 Q2 Q3 Q4 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021 Q2 Q1 3% vs. Q1'19 29#30TRANSFORMATION UPDATE Building a Positive Track Record of Performance 36.0% FY 2017 BED BATH & BEYOND 34.1% FY 2018 33.3% FY 2019 33.6% FY 2020 35.0% FY 2021E - Gross Margin Continued Gross Margin Expansion FY 2022E 38.0% FY 2023E 30#31TRANSFORMATION UPDATE Shareholder Value Creation Through Capital Deployment approx. $1 billion cumulative share repurchases $600M cash in-flow from divestitures more than $500M repurchased through Q1'21 One Kings Lane Divesture 1 I PMALL Divesture Q1 2020 Q2 2020 BED BATH & BEYOND $225M Accelerated Share Repurchase Program Linen, CTS & Distribution Center Divestiture Note: All dollar values of share repurchases reflect open market repurchases $150M CPWM Divestiture Q3 2020 Q4 2020 Q1 2021 $0.5B total share repurchases at an average of $24/share $130M $375M total of $325M FY 2020 $130M in Q1'21 Leverage of <3.0x approx. $30OM share repurchases FY 2021E FY 2022E FY 2023E 31#32Investing in What We Believe In WHO WE ARE Our Commitments People: Become a Top 10 Retail Employer by 2030 by creating an equitable, inclusive work ■ ■ environment where all our people feel at home and can thrive Community: Donate $1 billion in products, 2 million volunteer hours by 2030 to help provide the safety and sense of home to our neighbors Planet: Lead by example to build a better home for the next generation by becoming Net Zero by 2040, and offering more access to sustainable products BED BATH & BEYOND we believe that everyone deserves the opportunity to home, happier. people www community planet governance & stakeholder engagement our ESG strategy is inextricably linked to our 3-year business transformation and to our purpose - to make it easy to feel at home 32#33WHO WE ARE Investment Thesis I Turnaround story with significant potential for sustainable financial results Sales acceleration through assortment curation, the addition of owned brands and a digital-first mindset Enhancing gross margin & EBITDA through product mix, pricing and operational efficiencies Strong balance sheet and consistent cash flow generation Capital allocation focused on shareholder return BED BATH & BEYOND 33#34APPENDIX Thanks see you soch home, happler echo showm edia dit#35APPENDIX Quarterly Summary of FY2019 & FY2020 Net Sales The following table shows a quarterly summary of the Company's fiscal 2019 and 2020 net sales on both a Reported GAAP basis and on a Core Go-Forward basis, which excludes sales from divested banners. ● ● The Company is providing this additional transparency to help analysts and investors gain further perspective on the Company's recent portfolio transformation and the quarterly comparisons of the Core Go-Forward banners, which include Bed Bath & Beyond, buybuy BABY, Harmon Face Values and Decorist. Net Sales ($ in millions) Reported Core Note: numbers may not add due to rounding BED BATH & BEYOND Q1'19 Q2'19 Q3'19 Q4'19 $2,573 $2,080 $2,263 $2,719 $2,759 $2,191 $3,107 $2.471 FY 2019 $11,159 $9,006 Q1'20 Q2'20 $1,307 $1,128 Q3'20 Q4'20 $2,688 $2,618 $2,619 $2,239 $2,186 $2,390 FY 2020 $9,233 $7,943 35#36Non-GAAP Information This presentation contains certain non-GAAP information, including adjusted earnings before interest, income taxes, depreciation and amortization ("EBITDA"), adjusted EBITDA margin, adjusted gross margin, adjusted SG&A, adjusted net earnings per diluted share, and free cash flow. Non-GAAP information is intended to provide visibility into the Company's core operations and excludes special items, including non-cash impairment charges related to certain store-level assets and tradenames, loss on sale of businesses, loss on the extinguishment of debt, charges recorded in connection with the restructuring and transformation initiatives, which includes accelerated markdowns and inventory reserves related to the planned assortment transition to Owned Brands and costs associated with store closures related to the Company's fleet optimization and the income tax impact of these items. The Company's definition and calculation of non-GAAP measures may differ from that of other companies. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the Company's reported GAAP financial results. For a reconciliation to the most directly comparable US GAAP measures and certain information relating to the Company's use of Non-GAAP financial measures, see "Non- GAAP Financial Measures" below. Footnotes ¹ The Company notes that first quarter growth rates in fiscal 2021 are not fully comparable due to last year's extended store closures related to the COVID-19 pandemic. Therefore, Comparable Sales Growth for the three months ended May 29, 2021 has been calculated by adjusting Core Sales for the estimated negative impact on 2021 sales of the store closures in fiscal 2020 as part of the Company's fleet optimization program. The Company estimates that the stores closed in 2020 as part of this fleet optimization program would have contributed approximately 13% to Core Sales in the first quarter of fiscal 2021. The Company believes this calculation of comparable sales is a more meaningful reference for the current quarter. ² Adjusted items refer to comparable sales as well as financial measures that are derived from measures calculated in accordance with GAAP, which have been adjusted to exclude certain items. Adjusted Gross Margin, Adjusted SG&A, Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted Diluted EPS are non-GAAP financial measures. For more information about non-GAAP financial measures, see "Non-GAAP Information" below. 3 Free Cash Flow is defined as operating cash flow less capital expenditures. 4 Total Liquidity includes cash & investments and availability under the Company's asset-based revolving credit facility. 5 Leverage ratio calculated using Moody's gross debt/EBITDA ratios. BED BATH & BEYOND 36#37APPENDIX Q1'21 Non-GAAP Reconciliation Gross profit Gross margin Restructuring and transformation initiative expenses (Loss) earnings before (benefit) provision for income taxes Tax (benefit) provision Effective tax rate Net (loss) income Net (loss) earnings per share - Diluted Weighted average shares outstanding- Basic Weighted average shares outstanding- Diluted Reported BED BATH & BEYOND 633,694 32.4% 33,686 S (88,137) (37,263) 42.3 % $ (50,874) (0.48) 106,772 106,772 Loss on sale of Businesses $ (50,874) 68,278 265 16,000 (37,263) (3,594) 3,989 S 3,989 Reconciliation of Net (Loss) Income to EBITDA and Adjusted EBITDA 3,989 $ Restructuring and Transformation Expenses (47,344) 2.4 % (33,686) 81,030 3,989 S Three Months Ended May 29, 2021 Excluding Impairments 81,030 S 81,030 (4,484) 9,129 76,546 S 9,129 9,129 Loss on extinguishment of debt S 265 9,129 S 265 Net (loss) income Depreciation and amortization Loss on extinguishment of debt Interest expense Tax (benefit) provision EBITDA EBITDA as % of net sales If a company is in a net loss position, then for earnings per share purposes, diluted weighted average shares outstanding are equivalent to basic weighted average shares outstanding. (1) 265 Total income tax impact (265) 38,614 (20.8)% S (38,614) $ (38,614) Total Impact $ 47,344 2.4% 38,614 S (33,686) 94,413 38,614 (20.8)% 55,799 55,799 (4,484) (265) 38,614 $ 89,664 $ Adjusted 681,038 34.9 % 6,276 1,351 21.5 % 4,925 0.05 106,772 109,029 4,925 63,794 16,000 1,351 86,070 70 37#38APPENDIX Q1'20 Non-GAAP Reconciliation Gross profit Gross margin Restructuring and transformation initiative expenses (Loss) earnings before (benefit) provision for income taxes Tax (benefit) provision Effective tax rate Net loss (income) Net loss per share - Diluted Weighted average shares outstanding- Basic Weighted average shares outstanding- Diluted Reported 348,489 26.7% BED BATH & BEYOND (478,100) (175,809) 36.8 % (302,291) (2.44) 123,697 123,697 $ (302,291) 83,601 (1) 17,171 (175,809) $ (377,328) Loss on sale Businesses S Reconciliation of Net (Loss) Income to EBITDA and Adjusted EBITDA Net (loss) income Depreciation and amortization Loss on extinguishment of debt Interest expense II S Restructuring and Transformation Expenses S 939 939 Three Months Ended May 30, 2020 Excluding ||| 939 $ 85,261 Impairments 939 85,261 85,261 Loss on extinguishment of debt Total income tax impact 85,261 S 26,738 1.2 % $ (26,738) S (26,738) Total impact Tax (benefit) provision EBITDA EBITDA as % of net sales If a company is in a net loss position, then for earnings per share purposes, diluted weighted average shares outstanding are equivalent to basic weighted average shares outstanding. 26,738 86,200 26,738 S 1.2 % 59,462 59,462 26,738 86,200 Adjusted 348,489 26.7% (391,900) (149,071) 38.0 % S (242,829) (1.96) 123,697 123,697 $ (242,829) 83,601 17,171 (149,071) $ (291,128) (22.3)% 38#39home, happier K TM First Quarter Fiscal 2021 Earnings Presentation Mark Tritton, President & Chief Executive Officer Gustavo Arnal, Executive Vice President, Chief Financial Officer June 30, 2021 BED BATH& BEYOND