Slide 1: Ross Stores, Inc.
Ross Stores, Inc. May 2026 i@OSS
Slide 2: Disclosure of Risk Factors
Disclosure of Risk Factors Forward-Looking Statements: This presentation contain forward-looking statements regarding, without limitation, projected sales, costs and earnings, planned new store growth, capital expenditures, liquidity and other matters. These forward-looking statements reflect our th
Slide 3: Ross Stores, Inc. Snapshot
Ross Stores, Inc. Snapshot • S&P 500, Fortune 500 and NASDAQ 100 company with fiscal 2025 revenues of 9% Children’s $22.8 billion 22% 13% Ladies • Ross Dress for Less® is the Shoes largest off-price apparel and home fashion chain in the U.S. with 1,917 stores in 44 states, the 15% District of Columb
Slide 4: Store Locations
Store Locations 2,282 stores 44 states 110 new openings in 2026 Ross Dress for Less dd’s DISCOUNTS Store count is as of Q1 fiscal 2026. 4
Slide 5: Ross Dress for Less
Ross Dress for Less • Started in California in 1982 • Efficient, low-cost format • Opening stores with average size of 23,000 gross square feet • Convenient self-service format • Strong co-tenancy • Visible and accessible retail locations at high traffic intersections • Located in markets with a lar
Slide 6: Ross Customer
Ross Customer • About 70% female, shopping for herself and other family members • Wide range of household incomes – “want a bargain” versus “need a bargain” • Price and value matter most – great deals on brands she loves is a key way of showing her that value • Embraces the “treasure hunt” format an
Slide 7: dd's DISCOUNTS
dd’s DISCOUNTS • Concept launched in California in 2004 • Opening stores with average approximate size of 21,000 gross square feet • Established shopping centers • Easy-to-shop store environment • Located in densely populated urban or suburban neighborhoods 7
Slide 8: dd's Customer
dd’s Customer • Customer is typically young and ethnically diverse with low-to- moderate income households • Price and value matter most – “need a bargain” • Assortments feature moderate and discount fashions for the family and home • Marketing reflects a strong focus on value • Engaging customers t
Slide 9: Q1 2026 Results
Q1 2026 Results Total sales increased 21% to $6.0 billion, up from $5.0 billion last year, with a comparable store sales gain of 17% versus flat comps last year • Trends were broad-based by business and regions • By merchandise area, Ladies and Cosmetics were the strongest businesses • Geographicall
Slide 10: Investment Highlights
Investment Highlights Differentiated Business Model Commitment Unwavering to Enhancing Focus on Value Shareholder Return Strong Financial Proven Foundation Track Record Significant Store Growth Opportunities 10
Slide 11: Differentiated Business Model
Differentiated Business Model Opportunistic Buying & Treasure-Hunt Shopping Disciplined Expense & Flexible Off-Price Model Experience Inventory Management • Hundreds of merchants • Broad assortment on a wide • Tightly manage expenses sourcing product from a wide range of brand name apparel across th
Slide 12: Unwavering Focus on Value
Unwavering Focus on Value Our top priority is ensuring access to quality brands at great savings every day • Reflected in ongoing investments in people and processes in our merchant organization • Our highly-skilled merchants purchase product from thousands of vendors and manufacturers, enabling con
Slide 13: Proven Track Record
Proven Track Record Sales ($ in Billions) Comparable Store Sales 14% 13% 13% $25.0 12% $22.8 11% 2016 – 2025 Average: 4% $21.1 $20.4 10% $20.0 $18.9 $18.7 9% 8% $16.0 7% $15.0 $15.0 $14.1 COVID-19 6% Impacted 5% 5% $12.9 $12.5 5% 4% 4% 4% 4% 3% 3% 3% $10.0 COVID-19 2% Impacted Not 1% Reported 0% $5.
Slide 14: Proven Track Record
Proven Track Record EBIT Margin Earnings Per Share 16.0% $7.0 $6.61 14.5% 14.0% $6.32 13.6% 13.4% $6.0 12.3% $5.56 12.2% 11.9% 12.0% 11.3% $4.87 10.6% $5.0 $4.60 $4.38 $4.26 $4.0 $3.55 8.0% $3.0 $2.83 $2.0 4.0% COVID-19 Impacted COVID-19 1.5% $1.0 Impacted $0.24 0.0% $0.0 2016 2017 2018 2019 2020 20
Slide 15: Significant Store Growth Opportunities
Significant Store Growth Opportunities Long-Term Store Growth Potential 3,600 3,600 3,300 3,000 2,700 2,400 2,186 2,267 2,109 2,100 1,859 1,923 2,015 1,805 1,800 1,622 1,717 1,533 1,500 1,200 900 600 300 0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Potential Ross dd's DISCOUNTS 15
Slide 16: Strong Financial Foundation
Strong Financial Foundation Ended Q1 2026 with $5.4 billion in total liquidity, including unrestricted cash of $4.1 billion and $1.3 billion in fully available revolver capacity Senior Notes Maturity Date ($ Millions) • Total unsecured debt of about $1.0 billion $242 2027 • Investment grade rating $
Slide 17: Commitment to Enhancing Shareholder Returns
Commitment to Enhancing Shareholder Returns Share Repurchases and Dividend Payments ($ Millions) $2,000 $1,800 $1,645 $1,578 $1,600 $1,539 $1,412 $1,405 $1,381 $1,400 $1,200 $1,123 $1,055 $1,000 $915 $800 $600 COVID-19 $400 Impacted $234 $200 $0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Shar