Bed Bath & Beyond Investor Day Presentation Deck
BUSINESS & STRATEGY UPDATE
Executing on Capital Structure Objectives and Enhancing Liquidity
Q2'22 Liquidity
■
Secured commitments for more than $500M of
incremental liquidity
O Expanded ABL facility of $1.13B
O $375M in the form of a first-in, last out ("FILO")
loan
Enhanced liquidity to support immediate priorities,
including rebalancing assortment and inventory to
drive traffic, vendor support
Filed S-3 to facilitate raising incremental equity
capital
O Preparing initiation of an at the market offering
program ("ATM") for up to 12M shares of common
stock
O Provides optionality to augment liquidity, invest
in business or reduce leverage/interest expense
Focused on further strengthening long-term capital
structure
O Additional new capital preserves flexibility to
execute on long-term capital structure objectives
O
Evaluating options to further enhance capital
structure, reduce debt and interest expense
¹ Based on approximately $130M of outstanding LCs and $550M of borrowings as of Q2'2022
2 Pro forma based on Q2'2022 ending liquidity plus FILO loan and ABL commitment increase
$0.5B
$0.5B of
incremental
liquidity
ABL
Availability¹
$0.3B
AUGUST 31, 2022
Total Cash &
Investments
$0.2B
Pro Forma Liquidity²
-$1.0B
NEW
FILO Proceeds
$0.4B
Incremental
ABL Availability
$0.1B
ABL
Availability¹
$0.3B
Total Cash &
Investments
$0.2B
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