Burl Q2 2014 Presentation

1. Agenda
Page
[ C L I E N T N A M E ]
Presentation3
Investor Presentation:
September 2014

2. 1
Forward Looking Statements
This presentation contains forward-looking statements that are based on current expectations, estimates, forecasts and projections about Burlington Stores, Inc.,
together with its consolidated subsidiaries including, without limitation, Burlington Coat Factory Warehouse Corporation and its operating subsidiaries
(“Burlington” or the “Company”), the industry in which we operate and other matters, as well as Burlington management’s beliefs and assumptions and other
statements regarding matters that are not historical facts. For example, when Burlington uses words such as “aim,” “project,” “projection,” “expect,” “forecast,”
“outlook,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “should,” “would,” “could,” “will,” “can,” “can have,” “likely,” “opportunity,” “potential” or “may,”
and the negatives thereof and variations of such words or other words that convey uncertainty of future events or outcomes, Burlington is making forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Burlington’s forward-looking
statements are subject to risks and uncertainties. Such statements include, but are not limited to, proposed store openings and closings, proposed capital
expenditures, projected financing requirements, proposed developmental projects, projected sales, earnings, revenues, costs, expenditures, cash flows, growth
rates and financial results, our plans and objectives for future operations, growth or initiatives, our strategies, Burlington’s ability to maintain selling margins, and
the effect of the adoption of any new accounting pronouncements on our consolidated financial position, results of operations and cash flows, and the expected
outcome or impact of pending or threatened litigation. Actual events or results may differ materially from the results anticipated in these forward-looking
statements as a result of a variety of factors. While it is impossible to identify all such factors, factors that could cause actual results to differ materially from those
estimated by Burlington include: competition in the retail industry, competitive factors such as pricing and promotional activities of major competitors, seasonality
of Burlington’s business, adverse weather conditions, changes in consumer preferences and consumer spending patterns, import risks, inflation, general
economic conditions, unforeseen computer related problems, unforeseen material loss or casualty, regulatory changes, our relationship with our employees, the
impact of current and future law, terroristic attacks, natural and man-made disasters, Burlington’s ability to implement its strategy, its substantial level of
indebtedness and related debt-service obligations, restrictions imposed by covenants in its debt agreements, availability of adequate financing, its dependence
on vendors for its merchandise, events affecting the delivery of merchandise to its stores, existence of adverse litigation, availability of desirable locations on
suitable terms, and other risks discussed from time to time in the filings of Burlington and Burlington Coat Factory Investments Holdings, Inc. with the Securities
and Exchange Commission.
Many of these factors are beyond Burlington’s ability to predict or control. In addition, as a result of these and other factors, Burlington’s past financial
performance should not be relied on as an indication of future performance. The cautionary statements referred to in this section also should be considered in
connection with any subsequent written or oral forward-looking statements that may be issued by Burlington or persons acting on its behalf. Burlington
undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as
required by law. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this presentation might not occur.
Furthermore, Burlington cannot guarantee future results, events, levels of activity, performance or achievements.

3. 2
Investment Highlights
Leading destination for on-trend, branded merchandise at a great value
Vision for growth and accelerating momentum
Flexible off-price sourcing and merchandising model
Attractive store economics and white space
Proven management and merchant team with extensive retail experience

4. 3
Company Overview
 Leading, nationally recognized retailer of high quality,
primarily branded apparel
 National footprint with 523 stores, inclusive of its
online store, in 44 states and Puerto Rico
 Extensive selection of quality brands, on-trend, at
great value
 Feature merchandise from >4,500 vendors, with a
focus on major nationally-recognized brands
 Every Day Low Price (“EDLP”) model with savings
up to 60-70% off department and specialty store
regular prices
 Consistent operating performance, generating
FY13 net sales of $4.4 billion (7.2% y-o-y growth)1,
Adjusted EBITDA of $384 million (15.6% y-o-y growth)1, and
Adjusted Net Income of $70 million (17.9% y-o-y growth)1
National Store Footprint
WA
6
OR
4
CA
60
NV
5
ID
2
MT
WY
UT
3
AZ
9
NM
2
ND
1 MN
SD
NE
1
TX
51
OK
3
CO
6
KS
6
5
IA
2
MO
6
WI
9
IL
28
MI
17
IN
12
OH
19
AR
2
LA
9
MS
2
TN 6
AL
7
VA
17
NC
10
WV
FL
35
GA
16
SC
5
KY 4
PA
28
NY
34
VT
ME
2 NH
2
MA
13
RI
CT 4
NJ 10
28
DE
MD 2
16
West
74 Stores
Midwest
110 Stores
Northeast
123 Stores
Southeast
137 Stores
Southwest
79 Stores PR
12
AK
2
1 Reflects 52 weeks ended February 1, 2014 compared with the 53 weeks ended February 2, 2013 Note: As of August 2, 2014

5. Our core customer shops for her family as well as herself
FY13 Net Sales by Category ($4.4 billion)
4
Women's Ready-to-Wear
Apparel
24%
Accessories and
Footwear
21%
Company Overview (cont.)
Menswear
19%
Youth Apparel / Baby
20%
Home
8%
Coats
8%

6. Differentiated Off-Price Business Model
Provides customers the value inherent in true EDLP, but with much more product,
category depth and variety than our off-price competitors
5
Moderate Department Store
50,000 - 80,000 sq. ft.
Men’s, Ladies and
Children’s Apparel, Baby Products, Family
Footwear, Accessories, Linens and
Home Décor
Premium and
moderate national brands
EDLP / Off-Price
Substantial in-season liquidity to capitalize
immediately on trends and opportunistic
buys
Younger (~39 years old)
~$64K avg. income
Store Size
Product
Breadth
Brands
Pricing
Strategy
Sourcing /
Vendors
Customers
Typically > or =
80,000 sq. ft.
Broad apparel range
with more depth
in available items
Moderate brands,
private label
Highly promotional
Pre-season sourcing strategy, limited
flexibility, margin guarantees / promotional
allowances
Older (~45 years old)
~$78K avg. income
Other Large Off-Price Retailers
30,000 sq. ft.
Similar product categories to Burlington but
less depth within each category (smaller
stores)
Premium and
moderate national brands
EDLP / Off-Price
More reliance on packaway merchandise
(Ross) and pre-season cuttings (TJX)
Younger (~39 years old)
~$77K avg. income

7. Large and Growing Off-Price Channel
2010 – 2013 Off-Price Channel Apparel Sales ($bn)* 2010 – 2013 Apparel Sales CAGR (%)
6
$19.5
$21.1
$21.8
$22.5
$25.0
$22.5
$20.0
$17.5
$15.0
2010 2011 2012 2013
6.2%
5.0%
2.0%
(0.2%)
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
(1.0%)
Off-Price US Retail Dep. Store/
Ntn'l Chain
2
1
*The NPD Group, Inc. / Consumer Tracking Service; Apparel, Feb ‘10 to Jan ‘14
2 2
1 FY 2010 – FY 2013 Apparel Sales
2 The NPD Group, Inc. / Consumer Tracking Service; Apparel, Feb ‘10 to Jan ‘14

8. Recent Accomplishments
7

9. Transformation of Burlington Stores
Before After
8

10. Significant Investments in People, Processes and Systems to
Transform Our Business
Since hiring Tom Kingsbury as President and CEO in December 2008, we have:
 Assembled a talented, experienced management and merchandising team
 Refined our off-price model through improved buying and inventory management
 Invested in technology and systems to drive growth and improve efficiency
 Built a data-driven testing culture to ensure successful rollout of new initiatives
 Transformed the marketing model and sharpened focus on our core female customer
 Introduced program to improve customer experience and store operations
9
 Refreshed existing and expanded new store base
 Enhanced real estate underwriting and new store selection process
We believe that we are in the early stages of realizing the return on these investments

11. Refined Our Off-Price Model Through Improved Buying and
Inventory Management
Off-price excellence and comparable store sales growth from better buying
Deliver VALUE through
Fashion, Quality, Brand and Price
(FQBP)
10
Minimal pre-season
purchasing –
Staying liquid
In-season
closeouts
Flexible floor sets –
Allocate square
footage and
buying dollars
to strongest
categories
Rejuvenated pack
and hold program –
Seasonal deals
from highly
desirable national
brands
Shallow and broad
assortments –
More selection
More categories

12. Refined Our Off-Price Model Through Improved Buying and
Inventory Management (cont.)
Improved Comparable Store Inventory Turnover Reduced Inventory Aged 91 Days and Older ($mm)
11
$551
(397 stores)
$260
(521 stores)
FY 2008 FY 2013
2.35x
3.97x
FY 2008 FY 2013
+22% in
Q2 2014 vs. Q2
2013

13. Invested in Technology and Systems to Drive Growth and
Improve Efficiency
Off-price excellence and comparable store sales growth from better selling
Right product to the right stores at the right time at the right price
12
Markdown
optimization –
Right price
Planning and
forecasting –
Right product
Business
intelligence
and product
attribution –
Metrics and
analytics
Allocation –
Right stores
at the
right time

14. Introduced Program to Improve Customer Experience and
Store Operations
Off-Price Excellence and Comp Store Sales Growth from Store Operations
13
Customer Experience
 Clean, well lit, easy to shop stores
 Improved navigation signage
 Well maintained fitting rooms
 Friendly associates
 Staffing commensurate with
customer traffic
 Fast, efficient checkout
 Friendly return / layaway policies
Store Execution
 Simplified merchandising
 Clear brand signage
 Sized fixtures
 Well executed clearance section
 Organized, recovered selling floor
 Fast movement of receipts to floor

15. Recent Initiatives Have Resulted in Improved Performance
Build merchant team
14
Annual Comparable Store Sales Growth (%)
(5.1)
Define buying model
Tom takes over as CEO
(2.5)
(4.8)
(0.2)
0.7
1.2
4.7
Ongoing comp improvement
2.7
4.7
6.0
4.0
2.0
0.0
(2.0)
(4.0)
(6.0)
FY 2008 FY 2009 FYE Shift¹ FY 2010 FY 2011 FY 2012 FY 2013² Q1 2014 Q2 2014
Quarterly Comparable Store Sales Growth (%)
FY 2008 FY 2009 FYE Shift FY 2010 FY 2011 FY 2012 FY 2013 FY 2014
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q2 4Q2 1Q 2Q 3Q 4Q
(2.0) (8.0) (6.0) (2.0) 0.2 (2.1) (4.3) (2.3) 3.3 0.3 (5.6) 1.2 0.5 4.0 1.5 (1.7) 0.6 2.9 2.1 (0.3) 3.4 7.8 3.9 4.0 2.7 4.7
1 Represents 35-week transition period from 5/30/2009 to 1/30/2010
2 Including Hurricane Sandy impacted stores, comps were 4.3% for 3Q13, 4.3% for 4Q13 and 4.9% for FY 2013

16. Growth Strategies
15

17.  Open approximately 25 new stores per year
16
Growth Strategies
Drive Comparable
Store Sales Growth
 Continue to enhance execution of the off-price model
 Improve merchandise localization
 Increase sales of Women’s Apparel, Shoes and Accessories
 Grow our Home business
Expand Our Retail
Store Base
Enhance Operating
Margins
 Optimize markdowns
 Enhance purchasing power
 Drive operating leverage

18. Financial Overview
17

19. Fiscal Q2 2014 Financial and Operating Highlights
*For additional detail regarding Burlington Stores Q2 2014 results and forward looking guidance, please find the full earnings release, a webcast of our
earnings call, and our 10Q filing with the SEC on the IR website – www.burlingtoninvestors.com
18
Comp Store
Sales Growth:
Q2 2014 results*
Increased by 4.7% following a 7.8%
increase in Q2’13
Increased by 3.6% following a 5.5% increase in
1H-13
Net Sales
Growth:
Increased by 8.3% Increased 7.1%
Adj. EBITDA:
Increased by 23.8% – a 70 bps
improvement in Adj. EBITDA margin
Increased by 18.9% – a 70 bps improvement in
Adj. EBITDA margin
Adj. Net Income
(Loss):
Improved $12.5 million to $(0.9) million
from $(13.6) million in Q2’13
Improved $25.1 million to $17.7 million from a
loss of $(7.4) million in 1H-13
Adj. Earnings
(Loss) Per Share:
Improved to $(0.01) per share from $(0.19)
per share
Improved to $0.23 per share from $(0.10) per
share
Comp Store
Inventory
Turnover:
Increased by 22%
Note: Reflects 13 and 26 weeks ended August 2, 2014 compared with the 13 and 26 weeks ended August 3, 2013
1H 2014 results*

20. ($ in millions) Before IPO (1-Oct-13) 2-Aug-14 xLTM EBITDA1
ABL $15 $0
Term Loan 862 826
Cap Leases 23 28
Total Senior Secured Debt $900 $854 2.10x
Senior Unsecured Notes 450 450
Senior Unsecured HoldCo Notes 344 69
Total Debt $1,694 $1,373 3.37x
19
Debt Profile
Debt Profile
1 TTM adjusted EBITDA of $407.6mm

21. Long-Term Financial Objectives
Long-Term Financial Objectives* Third Quarter Fiscal 2014 Outlook*
Fiscal 2014 Outlook*
These objectives are forward-looking, are subject to significant business, economic, regulatory and competitive uncertainties and contingencies, many of which are beyond the control of the
Company and its management, and are based upon assumptions with respect to future decisions, which are subject to change. Actual results will vary and those variations may be material. For
discussion of some of the important factors that could cause these variations, please consult the “Risk Factors” section of the preliminary prospectus. Nothing in this presentation should be regarded
as a representation by any person that these objectives will be achieved and the Company undertakes no duty to update its objectives
20
 Annual Store Growth 25 per year
 Annual Comparable Store Sales Growth 2.0% - 3.0%
 Annual Net Sales Growth 6.0% - 6.5%
 Annual Adjusted EBITDA Margin
Expansion
10 – 20 bps
 Annual Adjusted Net Income Growth 20%+
 Net Sales 6.4% - 7.4%
 Comp Store Sales 3.0% - 4.0%
 Adjusted EPS (using 75.8m diluted share count) $0.09 - $0.12
 Net Sales 6.5% - 7.2%
 Comp Store Sales ~3.0%
 Adjusted EBITDA Margin Rate 20-30 bps
better than last
year
 Net Interest Expense ~$85 million
 Effective Tax Rate for Adjusted Net
Income
~40%
 Adjusted EPS (using 75.7m diluted share count) $1.52 - $1.58
*For additional detail regarding Burlington Stores Q2 2014 results and forward looking guidance, please find the full earnings release, a webcast of our
earnings call, and our 10Q filing with the SEC on the IR website – www.burlingtoninvestors.com

22. 21
Investment Highlights
Leading Destination
for On-Trend,
Branded
Merchandise at a
Great Value
 Broad merchandising assortment provides customers with a wide range of choices
 Limited number of units per style fosters a sense of scarcity and urgency, and frequent arrival of new merchandise encourages
customers to return to stores regularly
 Savings to customer of up to 60-70% off department and specialty store regular prices
 EDLP approach eliminates the need to wait for sales, use coupons or participate in loyalty programs to realize savings
Vision for Growth,
and Accelerating
Momentum
 We have clear strategies which pave the way for growth in comp sales, expansion of our retail store base, and leverage for our
operating margins
 Much of the investment in our broad transformation is behind us
 Our recent results demonstrate the growing momentum in our business
Flexible Off-Price
Sourcing and
Merchandising
Model
 Ability to buy more in-season product to capitalize on strong performing categories
 Preserves option to take advantage of highly desirable opportunistic product in the marketplace
 Ability to allocate additional square footage to the strongest performing categories and items
Attractive Store
Economics & White
Space
 New stores have an average payback period of less than three years
 Over 98% of stores are profitable on a store-level cash flow basis
 Successful across geographic regions, population densities, store footprints and real estate settings
 Significant white space for growth with potential for approximately 1,000 stores, expanding in both existing and new markets
Proven Management
and Merchant Team
with Extensive
Retail Experience
 Median experience of 25 years in the retail industry, median tenure of five years with Burlington
 Complementary experiences across a broad range of disciplines, including at other leading off-price retailers

23. Appendix
22

24. Adjusted Net Income and Adjusted EBITDA Reconciliation
($ in millions) FY121 FY13 Q2 13 Q2 14
Net Income (Loss) $25.3 $16.2 ($25.0) ($6.5)
Net Favorable Lease Amortization 31.3 29.3 6.8 6.5
Costs Related to Debt Amendments & Offering 4.2 23.0 2.6 0.9
Loss on Extinguishment of Debt 2.2 16.1 0.6 0.0
Impairment Charges 11.5 3.2 0.1 0.8
Advisory Fees 4.3 2.9 1.1 0.1
Stock Option Modification Expense 0.0 10.4 7.3 1.0
Income Tax Expense (Benefit) (19.2) (30.9) (7.1) (3.7)
Adjusted Net Income (Loss) $59.6 $70.2 ($13.6) ($0.9)
($ in millions) FY121 FY13 Q2 13 Q2 14
Net Income (Loss) $25.3 $16.2 ($25.0) ($6.5)
Interest Expense, Net 113.8 127.5 33.2 25.5
Loss on Debt Extinguishment 2.2 16.1 0.6 0.0
Income Tax Expense (Benefit) 3.9 16.2 (14.2) (4.3)
Depreciation and Amortization 166.8 168.2 41.2 40.6
Impairment Charges 11.5 3.2 0.1 0.8
Advisory Fees 4.3 2.9 1.1 0.1
Stock Option Modification Expense 0.0 10.4 7.3 1.0
Costs Related to Debt Amendments & Offering 4.2 23.0 2.6 0.9
Adjusted EBITDA $332.0 $383.7 $46.9 $58.1
23
Historical Adjusted Net Income Reconciliation
Historical Adjusted EBITDA Reconciliation
1 53 weeks