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          Global Growth

          Growing a Global, Off-Price Value Company

          We continue to grow TJX as the leading global, value retailer. We operate stores in nine countries on three continents and are one of the few large U.S. retailers of apparel and home fashions to have expanded successfully internationally. With more than 4,300 stores as of February 2, 2019, we see the potential to expand our store base to 6,100 stores long term, with just our current chains in just our current countries alone. Our Company has a focused portfolio of four major divisions, which we believe represents tremendous growth potential for TJX in the U.S. and internationally.

          In the U.S., we still see meaningful growth ahead for Marmaxx, our largest and most profitable division. Looking ahead, giving us confidence is Marmaxx’s comparable store sales and traffic increases in many different retail and economic environments. In 2019, we expect to open about 60 additional T.J. Maxx and Marshalls stores.

          We also see a terrific opportunity for growth at our HomeGoods division. We believe we remain under-penetrated in the U.S. home market and see growth opportunities for both our HomeGoods and Homesense banners. In 2019, we expect to open about 65 HomeGoods and 15 Homesense stores in the U.S.

          In Canada, we started as a five-store Winners chain in 1990 and today, we are that country’s largest off-price retailer by far. In addition to Winners, we also operate HomeSense and Marshalls in Canada. In 2019, we expect to open about 30 stores in Canada.

          In Europe, we brought the off-price concept to the U.K. and Ireland 20 years ago. Today, we are the only major brick-and-mortar off-price retailer of apparel and home fashions in Europe. We brought T.K. Maxx to Germany in 2007, Poland in 2009, and Austria and the Netherlands in 2015. We also introduced the off-price home fashions concept with the launch of Homesense in the U.K. in 2008 and Ireland in 2017. In 2015, we were excited to add Trade Secret, an off-price retailer in Australia, to our family of retail chains. In 2017, we converted Trade Secret stores in Australia to the T.K. Maxx banner. Together, our European and Australian businesses comprise our TJX International division. In 2019, we plan to open approximately 40 additional stores in Europe and 10 stores in Australia.

          Beyond our successful brick-and-mortar business, we see e-commerce as an important complement to our stores and another way to drive traffic and expand our customer base. In 2012, we added Sierra Trading Post (rebranded to Sierra in 2019), an off-price, Internet retailer, to our family of businesses, and in 2013, we launched e-commerce on tjmaxx.com. Together with tkmaxx.com in the U.K., we now offer consumers three e-commerce sites to shop differentiated merchandise and great values 24 hours a day, 7 days a week. In 2019, we plan to launch e-commerce on marshalls.com and bring this chain’s great merchandise and values to even more consumers. We also plan to continue opening Sierra brick-and-mortar stores, bringing this concept to more consumers with 10 store openings planned in the U.S. in 2019.

          Our ability to leverage our global teams, infrastructure, and operational expertise are major reasons for our confidence in being able to continue opening stores successfully around the world. We see these strengths as tremendous advantages as we pursue our growth strategies around the globe. We see an exciting future for TJX, both in the U.S. and internationally!

          1Long-term potential includes 1,000 HomeGoods and 400 Homesense stores.

          2Total TJX stores include 35 Sierra stores in the U.S., as of FYE19.

          May 2019