Burlington exchanges $110.3M of 2.25% convertible notes due 2025 for cash based on March 8 VWAP

Burlington Stores, Inc.

Total exchanged principal: $110,312,000 of 2.25% Convertible Senior Notes due 2025.
Cash consideration based on volume-weighted average price of BURL common stock on March 8, 2023.
Transactions expected to close on March 10, 2023, subject to customary closing conditions.
Exchange agreements entered into privately with certain note holders; no conversion rights exercised.

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