Investor Presentaiton

Our Strategy Introduced Oct. 2020 The most trusted retailer of choice for the Active and Casual lifestyle Drive Top Line Growth Destination for Active & Casual Lifestyle Leading with Loyalty & Value Differentiated Omnichannel Experience KOHL'S St Expand Operating Margin Disciplined Capital Management Strong Organizational Core Operating Margin Goal of 7% to 8% Maintain Strong Balance Sheet Agile, Accountable & Inclusive Culture Creating Long-term Shareholder Value ↑ Expand operating margin Return to growth Solid cash flow generation Maintain strong balance sheet $ Return capital to shareholders 13

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