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Ross Stores announces the recent opening of 30 Ross Dress for Less® (“Ross”) and nine dd's DISCOUNTS® stores across 17 different states in October. These new locations complete the Company's store growth plans for fiscal 2020 with the addition of 66 new stores.

Ross Stores, Inc. (NASDAQ: ROST) (the “Company”) today announced the closing on October 21, 2020 of its previously announced public offering of $500 million aggregate principal amount of 0.875% senior notes due 2026 (the “2026 notes”) and $500 million aggregate principal amount of 1.875% senior notes due 2031 (the “2031 notes”). The sale of the 2026 notes and 2031 notes resulted in net proceeds of approximately $987.2 million, after deducting underwriting discounts and estimated transaction expenses. The Company used the net proceeds from the offering to fund the early settlement of its pending tender offers.

Ross Stores, Inc. (NASDAQ: ROST) (the “Company”) today announced the expected settlement date of October 22, 2020 (the “Early Settlement Date”) and the Total Consideration (as set forth in the Offer to Purchase (as defined below)) to be paid at the Early Settlement Date, for the Securities (as defined below) that were validly tendered at or prior to the Early Tender Date (as set forth in the Offer to Purchase) and are accepted for purchase in connection with its previously announced cash tender offers (the “Tender Offers”) for up to an aggregate principal amount of the outstanding senior notes listed in the table below (the “Securities”) such that the aggregate amount payable upon settlement (exclusive of accrued and unpaid interest) for all Securities purchased in the Tender Offers does not exceed $1,000,000,000 (the “Aggregate Tender Cap”).

Ross Stores, Inc. (NASDAQ: ROST) (the “Company”) today announced the pricing of a public offering of $500 million aggregate principal amount of senior notes due 2026 (the “2026 notes”) and $500 million aggregate principal amount of senior notes due 2031 (the “2031 notes” and together with the 2026 notes, the “notes”). The 2026 notes will be issued at a price to public of 99.436% of their principal amount and will bear interest at a rate of 0.875% per annum. The 2031 notes will be issued at a price to public of 99.631% of their principal amount and will bear interest at a rate of 1.875% per annum. The Company intends to use the net proceeds from this offering to fund the repurchase of certain of its outstanding senior notes that have been validly tendered and not withdrawn prior to the early tender date of the Company’s previously announced tender offers. The offering of the notes is anticipated to settle on October 21, 2020, subject to customary closing conditions.