1. Presentation3
Agenda
Page
[CLIENT NAME]
J.P. Morgan Global High Yield & Leveraged Finance Conference
February 2014

2. 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.
1

3. 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
2

4. Company Overview
 Leading, nationally recognized retailer of high
quality, primarily branded apparel
 National footprint with 521 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 approximately 4,000
vendors, with a focus on major nationallyrecognized brands
Store Footprint (521 stores)
 Every Day Low Price (“EDLP”) model with
savings up to 60-70% off department and
specialty store regular prices
West
73 Stores
Midwest
111 Stores
WA
6
ND
1
MT
OR
4
ID
2
WY
NV
5
 Consistent operating performance, generating LTM
3Q FY13 net sales of $4.4 billion (7.6% y-o-y
growth)1, and Adjusted EBITDA of $365 million
(19.7% y-o-y growth)1
UT
3
CA
59
AZ
9
AK
2
CO
6
1
Reflects 52-week year for FY 2012
3
IA
2
KS
6
OK
3
TX
51
Note: As of November 2, 2013
WI
9
SD
NM
2
Southwest
79 Stores
ME
2
MN
5
NE
1
Northeast
122 Stores
MO
7
AR
2
LA
9
NY
39
MI
17
OH
19
IL IN
28 12
PA
27
VA
17
NC
10
SC
GA 5
16
WV
KY 4
TN 6
MS
2
AL
7
FL
35
VT
NH
2
MA
13
RI
CT 4
NJ 10
28
DE
MD 2
15
Southeast
136 Stores
PR
12

5. Company Overview (cont.)
Our core customer shops for her family as well as herself
LTM 3Q FY13 Net Sales by Category ($4.4 billion)
Home
8%
Coats
8%
Women's Ready-to-Wear
23%
Youth Apparel / Baby
20%
Accessories and
Footwear
21%
Menswear
20%
4

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

7. Large and Growing Off-Price Channel
2010 – 2012 Off-Price Channel Sales ($B)
2010 – 2012 Sales CAGR (%)
$25.0
7.0%
6.1%
6.0%
5.4%
$22.5
$21.8
5.0%
$21.3
4.0%
$20.0
$19.7
3.0%
2.4%
2.0%
$17.5
1.0%
0.5%
$15.0
2010
2011
0.0%
2012
1
FY 2010 – FY 2012
Group
3 Euromonitor store-based retail
1
Source: NPD Group
2 NPD
6
Off-Price
2
US Retail
3
Dep. Store/
2
Ntn'l Chain

8. Recent Accomplishments
7

9. Transformation of Burlington
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
 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
9

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)
Minimal pre-season
purchasing –
Staying liquid
In-season
closeouts
Rejuvenated pack
and hold program –
Shallow and broad
assortments –
Seasonal deals
from highly
desirable national
brands
More selection
More categories
10
Flexible floor sets –
Allocate square
footage and
buying dollars
to strongest
categories

12. Refined Our Off-Price Model Through Improved Buying and
Inventory Management (cont.)
Annual Comparable Store Sales Growth (%)
Ongoing comp improvement
Build merchant team
6.0
5.0
Define buying model
4.0
Tom takes over as CEO
2.0
0.7
1.2
0.0
-2.0
(0.2)
(2.5)
-4.0
-6.0
(4.8)
(5.1)
FY 2008
FY 2009
FYE Shift¹
FY 2010
FY 2011
FY 2012
9 Mos. FY 2013
Quarterly Comparable Store Sales Growth (%)
FY 2008
FY 2009
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
(2.0) (8.0) (6.0) (2.0) 0.2 (2.1) (4.3) (2.3)
1
FYE Shift
Q1
3.3
FY 2010
Q2 Q3 Q4
0.3 (5.6) 1.2
Represents 35-week transition period from 5/30/2009 to 1/30/2010
11
Q1
0.5
FY 2011
Q2 Q3 Q4 Q1
4.0 1.5 (1.7) 0.6
FY 2012
Q2 Q3 Q4
2.9 2.1 (0.3)
FY 2013 YTD
Q1
Q2
Q3
3.4
7.8
3.9

13. 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)
+12% in
9 Mos. FY 2013
vs. 9 Mos. FY
2012
17% reduction
from Oct’12
EOM to Oct’13
EOM
$551
3.57x
2.35x
FY 2008
$315
FY 2012
FY 2008
12
FY 2012

14. Growth Strategies
 Continue to enhance execution of the off-price model
 Improve merchandise localization
Drive Comparable
Store Sales Growth
 Increase sales of Women’s Apparel, Shoes and Accessories
 Grow our Home business
 Introduce a new marketing campaign in Fall 2013
Expand Our Retail
Store Base
 Open approximately 25 new stores per year
 Optimize markdowns
Enhance Operating
Margins
 Enhance purchasing power
 Drive operating leverage
13

15. Recent Financial and Operating Highlights
IPO:
Successfully commenced IPO on October 2, 2013. Offered 15.3 million primary
shares at $17.00
Comp Store Sales
Growth:
Increased by 3.9% in 3Q FY13 and by 5.0% in 9 Mos. FY 2013
Net Sales Growth:
Increased by 10.0% y/y in 3Q FY13 and by 9.9% in 9 Mos. FY 2013
Gross Margin:
Increased by 40 bps y/y to 39.0% in 3Q FY13 and by 50 bps in 9 Mos. FY 2013
Adj. EBITDA:
Increased 28.3% y/y in 3Q FY13 – represents an 80 bps improvement in Adj.
EBITDA margin. Increased 33.6% y/y, or 110 bps, in 9 Mos. FY 2013
Net New Stores:
Opened 23 new stores and closed two existing stores since February 2, 2013,
bringing our total store count to 521 at the end of 3Q FY13
14

16. Financial Overview
15

17. Summary of Recent Financial Performance
Recent Financial Performance
FY 2010
FY 2011
FY 2012¹
1Q FY13
2Q FY13
3Q FY13
9 Mos.
FY 2013
Net New Stores Opened
18
17
23
3
0
18
21
20
Total Number of Stores
460
477
500
503
503
521
521
497
Comparable Store Sales Growth
(0.2%)
0.7%
1.2%
3.4%
7.8%
3.9%
5.0%
1.8%
Net Sales
$3,670
$3,854
$4,077
$1,065
$964
$1,065
$3,093
$2,814
4.2%
5.0%
5.8%
8.4%
11.5%
10.0%
9.9%
7.4%
$308
$315
$331
$80
$47
$62
$189
$141
% margin²
8.4%
8.2%
8.1%
7.5%
4.9%
5.9%
6.1%
5.0%
% growth
13.7%
2.2%
5.2%
22.8%
68.1%
28.3%
33.6%
1.1%
2.9x
3.1x
3.6x
-
-
-
-
-
($ in millions)
% growth
Adjusted EBITDA
Comparable Store Inventory Turnover
1 52
2
weeks
Adjusted EBITDA margin for 1Q FY12, 2Q FY12, and 3Q FY12 were 6.6%, 3.2% and 5.0%, respectively
16
9 Mos.
FY 2012

18. Off-Price Excellence: Financial Metrics
Financial Metrics
($ in millions)
FY 2008
FY 2012¹
9 Mos. FY 2012
9 Mos. FY 2013
Comparable Store Sales Growth
(5.1%)
1.2%
1.8%
5.0%
Net Sales Growth (vs. Prior Year)
(0.3%)
5.8%
7.4%
9.9%
Gross Margin
38.3%
38.7%
37.5%
38.0%
Selling & Administrative Expense as % of
Net Sales
32.1%
31.7%
33.6%
32.9%
Adjusted EBITDA Margin
7.5%
8.1%
5.0%
6.1%
(2.3%)
6.9%
–
–
2.4x
3.2x
–
–
3-Year Adjusted EBITDA Growth CAGR
Inventory Turnover
1
52 weeks
17
Change

19. Debt Profile
Debt Profile
Before IPO
2-Nov-13
ABL
$15.0
$38.0
Term Loan
862.0
860.3
23.6
23.4
$900.6
$921.7
Senior Unsecured Notes
450.0
450.0
Senior Unsecured HoldCo Notes [2]
343.7
122.2
$1,694.3
$1,493.9
Other Debt / Cap Leases
Total Senior Secured Debt
Total Debt
1
xLTM EBITDA [1,2]
LTM 3Q FY13 adjusted EBITDA of $379.0MM
of HoldCo Notes redeemed on November 7,2013, with proceeds of October IPO transaction xLTM EBITDA of 3.94x adjusted for
November redemption
2 $221.8MM
18
2.43x
3.94x

20. Long-Term Financial Objectives
Long-Term Financial Objectives
Fourth Quarter Fiscal 2013 Outlook
 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%+
 Fourth Quarter Comp Store Sales
2.0% - 3.0%
Fiscal 2013 Outlook
 Adjusted EBITDA Margin Rate
30-40 bps
better than last
year
 Net Interest Expense
~$128 million
 Effective Tax Rate for Adjusted Net
Income
~41%
 Pro forma Fully Diluted Shares
Outstanding
~74.8 million
shares
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
19

21. 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
 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
 We have a vision for growth and 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 work and investment in our broad transformation are behind us
 Our recent results demonstrate the growing momentum in our business
 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
 New stores have an average payback period of less than three years
Attractive Store
Economics & White
Space
Proven Management
and Merchant Team
with Extensive
Retail Experience
 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
 Median experience of 24 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
20