Bed Bath & Beyond Results Presentation Deck

Q2 PERFORMANCE HIGHLIGHTS & STRATEGIC UPDATE growth strategy unlocking strong financial performance Sales Improvement ✓ Solid Comp Sales Growth of -6% ✓ First reported positive comp since FY16 Q4 ✓ Strong Digital Comp Sales growth of -89% ✓ Strong Back-to- College omni- channel sales trends, up -21% BED BATH & BEYOND Stronger Margin and Profit Performance ✓ Adj. Gross margin increased -200 bps vs FY19 Q2 Adj. EBITDA increased -36% Stronger Cash Flow Generation Generated > $750mn in cash flow Reduced inventory levels by -8% vs FY20 Q1 Optimized Capital Structure ✓ Paid down -$236mn bank loan portion of ABL Repurchased -$300mn of senior notes outstanding through bond tender offer ✓ Reduced gross debt by -30% vs. FY20 Q1, pivoted to net cash position ✓ Liquidity of -$2.2bn, almost 2x higher than debt Accelerated Restructuring Plan Announced major realignment of organizational structure; Expect -$150mn in annualized pre-tax cost savings Store Network Optimization project includes the closure of -200 mostly BBB stores over the next 2 years Announced 1/3 of 200 BBB stores to close by end of FY20 Completed sale of PMall as part of strategic review of assets

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