Bed Bath & Beyond Results Presentation Deck

Bed Bath & Beyond's Capital Allocation Framework Bed Bath & Beyond has a disciplined capital allocation framework that balances: (1) organic investment and financial stability to ensure long-term success; and (2) return of excess capital to our shareholders through dividends and share repurchases Organic Investment L Invest in our business to ensure we continue to be the expert in whole home for all life events, providing a strong value proposition and experience for our customers Invest in value-creating transformative initiatives to adapt to the dynamic retail environment and enhance growth and margins Strong Balance Sheet L *Net of both cash and investments Maintain modest leverage: 0.8x net debt* / EBITDA as of Feb-2019 Retain strong cash position As of Feb-2019, approximately $1 billion of cash and investments and $0.6 billion of net debt* Dividends L · Consistent cash return through attractive quarterly dividend Annualized dividend per share of $0.68 Share Repurchase ● Return excess cash flow to shareholders and supplement EPS growth with share repurchase Expect -$225 million in FY19 and $400 million in FY20 BED BATH & BEYOND 13

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