Bed Bath & Beyond (BBBY)

COMPANY’S STATEMENT IN OPPOSITION

The Company believes it is a positive member of each of the communities in which it conducts business, and that social and environmental considerations are an integral part of the business which should be reflected in how it operates.  The Company also is aware that there is an appetite among some of its shareholder base for increased disclosure relating to the Company’s environmental and social practices.

The Company will prepare a report, in which it expects to treat a number of areas, including those mentioned by the proponents.  The Company intends for its report to provide meaningful insight into our performance in these areas.  The Company has already commenced the preliminary steps to prepare the report, and is committed to completing the report within the timeframe requested by the proponents.  The report will be published on the Company’s website following its completion.

The Company has engaged and expects to remain engaged with the proponents of this proposal during this process.  However, while the proposal recommends that the Company use the Global Reporting Initiatives Sustainability Reporting Guidelines (the “GRI Guidelines”) to prepare the report, and the Company believes this is likely an achievable goal, the proponents have insisted on a detailed written assurance that the report will be prepared in accordance with the GRI Guidelines.  Due to a lack of sufficient familiarity with the GRI Guidelines, the Company cannot give such assurance at this time.  The Company will be reviewing many different sources and guidelines in preparing its report, including the reports of other large retailers as referenced by the proposal.  The Company does not believe that committing to follow a single resource is in the best interests of the Company or its shareholders at this time.