#1Jon Schnik HER HOME Anies D First Quarter Fiscal 2022 Earnings Presentation (PERIOD ENDING May 28, 2022) Harriet Edelman, Chair of the Board of Directors Sue Gove, Director & Interim Chief Executive Officer Gustavo Arnal, Executive Vice President, Chief Financial Officer Susie A. Kim, Investor Relations June 29, 2022 BED BATH& BEYOND STEVEN VEN GAMBREL PERSPECTIVE#2Forward Looking Statements This presentation contains forward-looking statements within the meaning of Section 21 E of the Securities Exchange Act of 1934 including, but not limited to, our progress and anticipated progress towards our long-term objectives, as well as more generally the status of our future liquidity and financial condition and our outlook for our 2022 Fiscal second quarter and 2022 Fiscal year. Many of these forward-looking statements can be identified by use of words such as may, will, expect, anticipate, approximate, estimate, assume, continue, model, project, plan, goal, preliminary, and similar words and phrases, although the absence of those words does not necessarily mean that statements are not forward-looking. Our actual results and future financial condition may differ materially from those expressed in any such forward-looking statements as a result of many factors. Such factors include, without limitation: general economic conditions including the recent supply chain disruptions, labor shortages, wage pressures, rising inflation and the ongoing military conflict between Russia and Ukraine; a challenging overall macroeconomic environment and a highly competitive retailing environment; risks associated with the ongoing COVID-19 pandemic and the governmental responses to it, including its impacts across our businesses on demand and operations, as well as on the operations of our suppliers and other business partners, and the effectiveness of our and governmental actions taken in response to these risks; changing consumer preferences, spending habits and demographics; demographics and other macroeconomic factors that may impact the level of spending for the types of merchandise sold by us; challenges in executing our omni-channel and transformation strategy, including our ability to establish and profitably maintain the appropriate mix of digital and physical presence in the markets we serve; our ability to successfully execute our store fleet optimization strategies, including our ability to achieve anticipated cost savings and to not exceed anticipated costs; our ability to execute on any additional strategic transactions and realize the benefits of any acquisitions, partnerships, investments or divestitures; disruptions to our information technology systems, including but not limited to security breaches of systems protecting consumer and employee information or other types of cybercrimes or cybersecurity attacks; damage to our reputation in any aspect of our operations; the cost of labor, merchandise, logistical costs and other costs and expenses; potential supply chain disruption due to trade restrictions or otherwise, and other factors such as natural disasters, pandemics, including the COVID-19 pandemic, political instability, labor disturbances, product recalls, financial or operational instability of suppliers or carriers, and other items; inflation and the related increases in costs of materials, labor and other costs; inefficient management of relationships and dependencies on third-party service providers; our ability to attract and retain qualified employees in all areas of the organization; unusual weather patterns and natural disasters, including the impact of climate change; uncertainty and disruptions in financial markets; volatility in the price of our common stock and its effect, and the effect of other factors, including the COVID-19 pandemic, on our capital allocation strategy; changes to statutory, regulatory and other legal requirements or deemed noncompliance with such requirements; changes to accounting rules, regulations and tax laws, or new interpretations of existing accounting standards or tax laws; new, or developments in existing, litigation, claims or assessments; and a failure of our business partners to adhere to appropriate laws, regulations or standards. Except as required by law, we do not undertake any obligation to update our forward-looking statements. BED BATH & BEYOND 2#3Agenda Executive Transition Q1'22 Results (ending May 28th) Commercial Update & Outlook Commentary Appendix BED BATH & BEYOND jog pagpap www#4Executive Transition ANNIE LEIBOVITZ AT WORK Sicil#5Q1'FY22 RESULTS Executive Leadership Changes Name / Title Sue Gove Director, Interim CEO Mara Sirhal EVP, Chief Merchandising Officer BED BATH & BEYOND ● ● ● ● ● ● ● Qualifications More than 30 years of retail industry experience including President and CEO of Golfsmith and COO of Zale Corporation Independent Director of Board since May 2019; served two years on the Audit and three years on the Nominating and Corporate Governance Committees; named Chair of the Board's Strategy Committee in March 2022 Board member of The Fresh Market, IAA, Conn's HomePlus Served as a Senior Advisor for Alvarez & Marsal, a global advisory firm primarily focused on retail turnarounds 20 years of retail industry experience, merchandising, store operations, beauty, and wellness Served as SVP, General Manager for Harmon Prior VP, Divisional Business Manager for Licensed, Retail as a Service and Retail Diversity Strategy at Macy's, and various strategic merchandising roles including VP, Divisional Business Manager for Fragrances, Bath and Body Merchandising in the Beauty division PERIOD ENDING MAY 28, 2022 Prior Experience Golfsmith # ZALE CORPORATION HARMONⓇ FACE VALUES ★macy's 5#6Q1'22 RESULTS ANNIE LEIBOVITZ AT WORK Jason Schmidt Artists II Steidl#7■ Q1'FY22 RESULTS First Quarter Highlights Net Sales of approx. $1.5B; Comparable¹ sales of (23)% consistent with early quarter trends, as previously shared ■ PERIOD ENDING MAY 28, 2022 ▪ Bed Bath & Beyond banner Comparable¹ Sales decline of (27)% reflecting rapid shift in consumer spending patterns and declining demand in Home sector ▪ buybuy BABY Comparable¹ Sales of negative mid-single digits consistent with market trends; stable market share ▪ GAAP Gross Margin of 23.9%; Adjusted² Gross Margin of 23.8% including 840bps of transient costs related to an inventory markdown charge and port-related fees ■ Adjusted² Gross Margin of 32.2%, excluding transient inventory markdown charge (620bps) and supply chain costs such as port-related fees (220bps) referenced above which are considered transient Announcing aggressive actions on inventory, cost and capex to align with rapidly changing environment and performance ▪ Significantly optimizing inventory through adjustments to future receipts, additional markdowns, and focused assortment planning ▪ Acutely right-sizing overall cost structure to sales volumes, including within supply chain ▪ Substantially reducing planned capex by a minimum of $100M (to approximately $300M) by pausing remodels and new store openings for remainder of FY22 BED BATH & BEYOND 7#8Q1'22 RESULTS First Quarter Results - Key Financial Metrics Net Sales $1.5B Adj. Gross Margin² 23.8% 32.2% excl. -840bps transient costs (inv. markdown charge & port-related fees) BED BATH & BEYOND Total Comp¹ Sales 价价 -23% vs. Q1'21 Adj. EBITDA² ($224)M Note: The Company's four Core banners include Bed Bath & Beyond, buybuy BABY, Harmon Face Values and Decorist. PERIOD ENDING MAY 28, 2022 BANNER COMP¹ SALES vs. Q1'21 BED BATH BABY -27% -MSD% Total Liquidity $0.9B 8#9Q1'22 RESULTS ● Net Sales to Comparable Sales vs. LY (Q1'22 vs. Q1'21) Total Net Sales decline of -25%, including -2% impact from previous store fleet optimization Comparable¹ sales decline of -23% Bed Bath & Beyond -27%; buybuy BABY -MSD%; Harmon positive Driven by declining demand in destination Home categories, which represent approximately 70% of Bed Bath & Beyond banner Net Sales Digital channel continues to represent approximately 40% of Total Net Sales -25% -23% ● Total Net Sales Note: The Company's four Core banners include Bed Bath & Beyond, buybuy BABY, Harmon Face Values and Decorist. BED BATH & BEYOND PERIOD ENDING MAY 28, 2022 -2% Fleet Optimization Comparable Sales¹ Stores -24% Digital -21% 9#10Q1'22 RESULTS Adjusted² Gross Margin Bridge - Q1'21 to Q1'22 Adj. Gross Margin² of 23.8% reflects (-840bps) impact from transient costs related to an inventory markdown charge and port-related fees Adj. Gross Margin² continues to reflect transient costs such as supply chain-related port fees, in addition to an inventory markdown reserve charge Excluding the aforementioned 840bps of transient items, adj. gross margin² of 32.2% ● ● 34.9% Q1'21 Adj. Gross Margin Note: numbers may not foot due to rounding *Not expected to continue by end of 2022 Product Margin +60bps Supply Chain Costs -330bps -270bps 32.2% Q1'22 Adj. Gross Margin (excl. transient costs) PERIOD ENDING MAY 28, 2022 Inventory Reserve -620bps Port-Related Fees -220bps -840bps transient* 23.8% Q1'22 Adj. Gross Margin 10#11Q1'22 RESULTS Cash Flow & Liquidity 1 I T Q4'21 Total Cash & Invest. $0.5B Operating Cash Flow ($0.4B) Total Liquidity of $0.9B as of Q1 Investing & Financing Cash Flow 1 $0.1B ¹ Footing impacted by rounding 2 Including $102.3M of outstanding LCs and $200.0M of borrowings as of Q1'2022 Q1'22 Total Cash & Investments $0.2B PERIOD ENDING MAY 28, 2022 ABL $0.7B² Total Cash & Investments $0.2B 11#12COMMERCIAL UPDATE & OUTLOOK COMMENTARY OBERI#13FISCAL 2022 Commercial Update Fiscal 2022 Digital & Customer Engagement Store Remodel & Fleet Optimization Supply Chain and Technology BED BATH & BEYOND ● ● ● ● ● Current Update Launched retail media network, MOMENTS AD NETWORK™ Launched reimagined loyalty program, WELCOME REWARDS™ Approx. 50 remodels (BBB) initiated in Q1'22 Current total of approx. 200 remodels representing approx. 30% of sales New remodels paused for remainder of FY22 Ramping automation at East Coast RDC in PA Construction begun at West Coast RDC in CA Central RDC location chosen ERP Phase Il launched 13#14FISCAL 2022 OUTLOOK COMMENTARY Qualitative Guidance Comp Sales vs. LY Adjusted SG&A Capital Expenditures ■ FISCAL 2022 Q2'QTD trends: negative 20s; Improvement in 2H vs. 1H based on inventory optimization, including incremental clearance activity Key Assumptions: Depreciation & Amortization (approx.): $260M (no change) BED BATH & BEYOND Lower $ vs. LY reflecting aggressive actions to align cost structure to sales Approximately $300M (from $400M previously), a minimum reduction of $100M Note: Adj. gross margin, adj. SG&A, adj, EBITDA & adj. EPS are non-GAAP financial measures. For a reconciliation to comparable GAAP measures, see Appendix of this presentation. 14#15APPENDIX Thanks see you soon want to work, happier? apply now Text "JOBS" to 239663 to apply 20 Scan to App flexible schedules multistore discounts promotion from within jobs.bedbathandbeyond.com TOTAL COM HUMIDI AMEDICS TOTAL HUM MEDICS TOTA HUM 850 0 6 ME TOTAL#16Non-GAAP Information This presentation contains certain non-GAAP information, including adjusted earnings before interest, income taxes, depreciation and amortization ("EBITDA"), adjusted EBITDA margin, adjusted gross margin, adjusted SG&A, adjusted net earnings per diluted share, and free cash flow. Non-GAAP information is intended to provide visibility into the Company's core operations and excludes special items, including non-cash impairment charges related to certain store-level assets and tradenames, loss on sale of businesses, loss on the extinguishment of debt, charges recorded in connection with the restructuring and transformation initiatives, which includes accelerated markdowns and inventory reserves related to the planned assortment transition to Owned Brands and costs associated with store closures related to the Company's fleet optimization and the income tax impact of these items. The Company's definition and calculation of non-GAAP measures may differ from that of other companies. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the Company's reported GAAP financial results. For a reconciliation to the most directly comparable US GAAP measures and certain information relating to the Company's use of Non-GAAP financial measures, see "Non- GAAP Financial Measures" below. Footnotes ¹ Comparable Sales reflects the year-over-year change in sales from the Company's retail channels, including stores and digital, that have been operating for twelve full months following the opening period (typically six to eight weeks). Comparable Sales excludes the impact of the Company's store network optimization program. ² Adjusted items refer to comparable sales as well as financial measures that are derived from measures calculated in accordance with GAAP, which have been adjusted to exclude certain items. Adjusted Gross Margin, Adjusted SG&A, Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted EPS - Diluted are non-GAAP financial measures. For more information about non-GAAP financial measures, see "Non-GAAP Information" below. 3 Total Liquidity includes cash & investments and availability under the Company's asset-based revolving credit facility. BED BATH & BEYOND 16#17APPENDIX Q1'22 Non-GAAP Reconciliation Gross Profit Gross margin Restructuring and transformation initiative expenses (Loss) earnings before provision (benefit) for income taxes (Benefit) provision for income taxes Effective tax rate Net (loss) income Net loss per share - Diluted Weighted average shares outstanding- Basic Weighted average shares outstanding- Diluted Interest expense (Benefit) provision for income taxes Reported $ 349,312 EBITDA EBITDA as % of net sales 23.9% $ 24,263 (355,606) 2,060 (0.6)% $ (357,666) (4.49) 79,611 Gain on Sale of Businesses $ 79,611 (1) Reconciliation of Net Income (loss) to EBITDA and Adjusted EBITDA Net (loss) income $ (357,666) $ Depreciation and amortization 71,103 16,448 2,060 $ (268,055) $ $ - % Gain on extinguishment of debt $ $ $ $ - % Three Months Ended May 28, 2022 Excluding Restructuring and Transformation Expenses $ $ (1,167) (0.1)% (24,263) 23,096 23,096 23,096 (5,275) 17,821 Impairments charges $ - % 26,699 26,699 $ 26,699 26,699 (1) If a company is in a net loss position, then for earnings per share purposes, diluted weighted average shares outstanding are equivalent to basic weighted average Total income tax impact $ $ - % (82,636) 26.9 % 82,636 82,636 (82,636) Total Impact $ (1,167) (0.1)% $ $ $ $ (24,263) 49,795 (82,636) 26.9% 132,431 1.66 79,611 79,611 132,431 (5,275) (82,636) 44,520 Adjusted $ 348,145 23.8% (305,811) (80,576) 26.3 % $ (225,235) (2.83) 79,611 79,611 $ (225,235) 65,828 16,448 (80,576) $ (223,535) (15.3)%#18APPENDIX Q1'21 Non-GAAP Reconciliation Gross Profit Gross margin Restructuring and transformation initiative expenses (Loss) earnings before (benefit) provision for income taxes (Benefit) provision for income taxes Effective tax rate Net income (loss) Net (loss) earnings per share - Diluted Weighted average shares outstanding- Basic Weighted average shares outstanding- Diluted Reported $ 633,694 Depreciation and amortization Loss on extinguishment of debt Interest expense (Benefit) provision for income taxes EBITDA EBITDA as % of net sales 32.4% 33,686 (88,137) (37,263) 42.3 % $ (50,874) (0.48) 106,772 Loss on Sale of Businesses 106,772 (1) Reconciliation of Net (Loss) Income to EBITDA and Adjusted EBITDA Net (loss) income $ $ (50,874) 68,278 265 16,000 (37,263) (3,594) $ $ 3,989 % 3,989 3,989 3,989 Loss on extinguishment of debt $ $ 265 265 265 (265) Three Months Ended May 29, 2021 Excluding Restructuring and Transformation Expenses 47,344 $ $ 2.4 % (33,686) 81,030 81,030 81,030 (4,484) 76,546 Impairment charges $ $ 9,129 % 9,129 9,129 9,129 Total income tax impact $ % 38,614 (20.8)% (38,614) $ (38,614) (1) If a company is in a net loss position, then for earnings per share purposes, diluted weighted average shares outstanding are equivalent to basic weighted average shares outstanding. 38,614 Total Impact $ 47,344 2.4% $ $ $ (33,686) 94,413 38,614 (20.8)% 55,799 0.53 106,772 106,772 55,799 (4,484) (265) 38,614 89,664 Adjusted $ 681,038 34.9% $ $ 6,276 1,351 21.5% 4,925 0.05 106,772 109,029 4,925 63,794 16,000 1,351 86,070 4.4%#19Jon Schnik HER HOME Anies D First Quarter Fiscal 2022 Earnings Presentation (PERIOD ENDING May 28, 2022) Harriet Edelman, Chair of the Board of Directors Sue Gove, Director & Interim Chief Executive Officer Gustavo Arnal, Executive Vice President, Chief Financial Officer Susie A. Kim, Investor Relations June 29, 2022 BED BATH& BEYOND STEVEN VEN GAMBREL PERSPECTIVE