Bread Financial raises $135M through 8.875% Series B preferred stock issuance

BREAD FINANCIAL HOLDINGS, INC.

• Issued 5,400,000 depositary shares (each 1/40th interest in Series B Preferred) at $1,000 liquidation preference per share, raising ~$135M.
• Series B is 8.875% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock.
• Underwriting led by Morgan Stanley, RBC Capital Markets, UBS Securities, Wells Fargo Securities, and KBW.
• Dividends on Series B must be declared before any dividends or repurchases of junior or parity stock if Series B dividends unpaid.
• Certificate of designations filed with Delaware Secretary of State effective May 12, 2026.

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