Continuing to innovate, improve our e�ciency and enhance financial flexibility

Delivering convenience and value for shoppers through Shop Your Way and our integrated store and online experiences

Broadening the distribution of brands and services through partnerships

DRIVING OUR TRANSFORMATION

TO COMPETE IN THE FUTURE OF

RETAIL

LOOKING AHEAD

FUNDING OUR TRANSFORMATION IN Q2 2017

DRIVING PROFITABILITY

$124M

INCREASING FINANCIAL FLEXIBILITY

$460M+cash proceeds generated from real

estate transactions in Q2 2017Adjusted EBITDA improvement

in Q2 2017 vs Q2 2016

$1.0B+ in annualized cost savingsactioned to date

$500MSecond Lien Credit Agreement

amended to create $500 million Line of Credit Loan Facility

Maturity of Letter of Credit Facility extended from December 28, 2017 through December 28, 2018

$500M

$900M

SECURED LOAN FACILITY

SEARS MASTERCARDCiti and Sears Holdings

introduce the Sears Mastercard with an industry-leading 5-3-2-1

Shop Your Way rewards o�er

DIEHARD® AUTO CENTERSears celebrates the opening of the first DieHard® Auto Center Driven By Sears®in San Antonio, Texas

CRAFTSMAN BRAND SALE Craftsman brand sale to

Stanley Black & Decker for a $900 million Net Present Value

(estimated at time of transaction)

TIME INC. PARTNERSHIP

SEARSAPPLIANCES & MATTRESSES

Sears opens first Appliances & Mattresses store

in Pharr, Texas

SECURED LINE OF CREDIT FACILITYAND REAL ESTATE TRANSACTIONS

an amendment to its existing Second Lien Credit Facility dated September 1, 2016

over $200 million of real estate transactions

KENMORE PRODUCTSON AMAZON.COM

Sears launches Kenmore products on Amazon.com,

including Alexa-enabled smart appliances

APPLIANCES & MATTRESSES

$

»

»

Shop Your Way® partners with Time Inc. to reward members

Sears Holdings Obtains $500 Million Secured Loan Facility

2017JANUARY

2017JULY

KEY EVENTS TIMELINE IN FIRST HALF OF 2017

Progress on Our Transformation

08.24.2017