Bed Bath & Beyond Results Presentation Deck

V Bang f Q3 2019 Financial Results Summary ▪ On a GAAP basis, a net loss per diluted share of ($0.31) vs. net earnings per diluted share of $0.18 in the prior year period, which included a benefit of $0.16 from a gain on the sale of a building Reported net loss includes a net benefit of $0.07 per diluted share consisting of a favorable adjustment to the Company's previously established incremental inventory reserve for future markdowns of $24M, partially offset by a non-cash charge of $12M for the impairment of certain store-level assets On an adjusted basis, a net loss per diluted share of ($0.38) • ■ · ▪ Net sales of $2.8B, a decrease of 9%, and a comp sales decline of 8.3%, including a high-single digit % decline in stores, and a mid-single digit % decline in digital channels Sales were significantly impacted by the calendar shift of the Thanksgiving holiday which included one less week of holiday sales compared to the prior year period Adjusting for this calendar shift to include Thanksgiving and Cyber Monday weeks in both periods, comp sales declined 3.6%, with a decline in store sales of 6.5% and growth in digital sales of 9.4% Adjusted Gross Margin of 32.3% declined 80 bps vs. adjusted Gross Margin in FY 2018 Q3, primarily due to a decrease in merchandise margin, driven by a higher level of promotional activity in the quarter, which was partially offset by a decrease in net direct-to-customer shipping expense Adjusted SG&A expense declined $51M, reflecting progress in resetting the cost structure, including lower payroll and payroll-related expenses and lower occupancy expenses, partially offset by higher management consulting expenses associated with some strategic initiatives ■ Cash and investments balance of $920M at the end of FY 2019 Q3 ▪ Retail inventories of $2.7B (at cost) at the end of FY 2019 Q3, a reduction of $289M or 10% (at cost), compared to the end of the prior year period, excluding the impact of the incremental inventory reserve for future markdowns BED BATH & BEYOND

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