Office Depot : Q3 2020 Balance Sheet and Credit Metric Summary

Selected Consolidated Financial Data

For The Quarter Ended September 26, 2020

(Dollars In Millions)

(Unaudited)

Cash	$743		Short-Term Debt	$21
Receivables	$661		Trade Payables	$1,038
Inventory	$1,000		Other Current Liabilities	$1,228
Other Current Assets	$76		Total Current Liabilities	$2,287
Total Current Assets	$2,480
			Long-Term Debt	$354
Property & Equipment	$602		Other Long-Term Liabilities	$1,309
Other Long-Term Assets	$2,663		Total Liabilities	$3,950
Total Assets	$5,745		Shareholders' Equity	$1,795
	Q3	YTD	LTM
Adjusted EBITDA1	$186	$402	$558
	Q3	YTD	LTM
Operating Cash Flows	$309	$489	$641
Capital Expenditures	($14)	($54)	($81)
Free Cash Flow1	$295	$435	$560
	Liquidity & Capitalization Summary
Capitalization			Short-Term Liquidity
Short-Term Debt	$21		Cash and cash equivalents	$743
Long-Term Debt	$354		Credit Line Availability	$1,001
Shareholders' Equity	$1,795		Total Available Liquidity	$1,744
Total Invested Capital	$2,170
			Net Cash (Debt) Position	$368
Current Ratio	1.08	D&B Rating2, 3	5A3
Cash Coverage Ratio	0.26	Commercial Credit Score Percentile2, 3	79
Total Debt/ Total Assets	0.07	Financial Stress Percentile2, 3	35
Total Debt/ Equity	0.21	12-month Paydex®2, 3	71

1 Adjusted EBITDA and Free Cash Flow are Non-GAAP financial measures. Please see https://investor.theodpcorp.com/financial-information/supplemental-data 2 D&B and Paydex are trademarks of the Dunn & Bradstreet Corporation. D&B Metrics as of 11/3/2020.

3 D&B Rating is for The ODP Corporation; Paydex and percentiles are for Office Depot, LLC

Definitions

Current Ratio = current assets/current liabilities

Total Debt / Total Assets = (short-term debt + long-term debt)/Total assets

Cash Coverage Ratio = LTM operating cash flows/Average current liabilities

Total Debt/ Equity = (Short-term debt + Long-term debt)/Shareholders' equity

Net Cash (Debt) Position = Cash and Cash Equivalents - Short-Term Debt - Long-Term Debt