Annual Report (PDF)

THE TJX COMPANIES, INC. 2020 ANNUAL REPORT

43692 COV CC2021.indd 1 4/7/21 11:05 AM 43692 COV CC2021.indd 2 4/7/21 11:05 AM TO OUR FELLOW SHAREHOLDERS: When we wrote to you last year, none of us could have imagined the extent of the human impact the COVID-19 global pandemic would have on the world. Our hearts go out to all of those who have been affected by this health crisis, including our Associates, our customers, and the communities we serve. Looking ahead, we are encouraged by the prospect of a widespread vaccine rollout and are hopeful the world can begin to move past this crisis soon.

Associate Recognition We could not be prouder of the hard work and dedication of TJX’s approximately 320,000 global Associates. Their ongoing commitment to keeping our business running has been truly amazing and represents the very best of our Company’s culture. Together, as “One TJX,” we accomplished many monumental tasks and successfully navigated through 2020 during the most uncertain environment in our 44-year history, while keeping the health and safety of our Associates and customers at the forefront.

2020 Business Review In March 2020, we temporarily closed all our stores, online businesses, distribution centers, and global offices as a result of the pandemic. We made swift and proactive decisions to prepare us to be well-positioned to recover from the impact of the health crisis on our business in the near term and to return to our path for successful global growth in the long term. Financially, we took prudent actions on capital spending and expenses to maintain our liquidity. When we began to reopen our stores in May 2020, we had established new protocols designed to operate our business safely and emerged with a very strong balance sheet. In the fourth quarter, and into 2021, with another surge in COVID cases, government mandates required us to temporarily close hundreds of stores again, with the vast majority of them in Europe and Canada.

As to our 2020 financial performance, our sales of $32.1 billion and earnings per share of $.07 were negatively impacted due to the temporary closing of our stores for approximately 24% of the year.1 However, when measuring sales across our stores for the periods they were open (“open-only comp store sales”), we saw only a small year-over-year decline. Further, we were very pleased to end the year with strong momentum in our business. For the fourth quarter, our overall open-only comp store sales improved every month of the quarter and were positive in January. We see these sales results as a remarkable accomplishment as we operated in an environment where consumer shopping behavior was extremely uncertain, occupancy limits and social distancing protocols were the norm, and we were not considered an “essential” retailer in most of our geographies. Our performance through all of these challenges gives us great confidence that we will regain our sales and customer traffic once this health crisis is behind us.

Financial Position and Shareholder Distributions In 2020, we generated $4.6 billion of operating cash flow and ended the year with $10.5 billion of cash on our consolidated balance sheet. We enter 2021 with a very strong balance sheet and plenty of liquidity to operate our business. We are in an excellent position to continue our investments in our stores, supply chain, and infrastructure to support our future growth plans. Further, we were pleased to declare a quarterly dividend in December 2020, at an increased rate of 13% above the previous dividend paid in March 2020. The Company declared a quarterly dividend at the same rate of $.26 per share in March 2021.

1Based on total store days closed due to the pandemic as a percentage of potential total store days open.

43692 LETTER CC2021.indd 1 4/7/21 2:26 PM Looking Forward As we look ahead, we are as con dent as we have ever been in the strength and resiliency of our business. We believe that our exible, off-price business model, entertaining treasure hunt shopping experience, differentiated mix of merchandise, and excellent values will continue to be tremendous advantages in the post-pandemic retail environment, as they have been for decades. Our management team is laser-focused on driving pro table sales and increasing market share, and committed to continuing to develop talent and champion our culture. We are convinced that we have the opportunity to capture signi cant market share gains over the long term and are in excellent shape to build on our off-price leadership positions in the United States, Canada, Europe, and Australia.

Corporate Responsibility 2020 was a critically important year in terms of corporate responsibility. Our commitment to the health, safety, and well-being of our Associates and customers remained a top priority, along with the nancial stability of the business. It was also an important year for our inclusion and diversity work, which includes our commitment to standing up for racial justice and equity. The increasing violence against the Asian and Paci c Islander communities is another stark reminder that injustice exists and that we must continue to work toward a better future for all. We are committed to listening to, and learning from, our Associates and taking actions to do better. We also broadened our charitable giving strategy to provide more direct support to Black communities, and increased our global giving to provide an incremental $10 million in grant funding over 2020 and 2021 to organizations that are actively working to support racial justice and equity. Hate has no place at TJX. In terms of environmental sustainability, we were pleased to exceed our goal to reduce our greenhouse gas (“GHG”) emissions per million dollars of revenue by 30% by the end of scal 2020, against a scal 2010 baseline, by achieving a 47% reduction. We also announced a new GHG goal, which is a 55% reduction in emissions from our direct operations by scal 2030 against a baseline year of scal 2017, a science-based target aligned with the United Nations’ Paris Agreement guidelines.

We encourage you to visit our corporate website, TJX.com, for further information on our business operations, nancial results, and ongoing global corporate responsibility efforts.

Board of Directors and Our Gratitude We were pleased to welcome back José Alvarez to our Board of Directors in 2020. His long career in the retail industry provides him with deep expertise in global retail chain management, including organizational leadership, store management, supply chain, logistics, distribution, merchandising, marketing, and strategy. We were also delighted to welcome C. Kim Goodwin to our Board of Directors in 2020. Her many years of experience in investment and nancial services provide her with strong analytical skills, business acumen, and experience in risk assessment and management, as well as a deep understanding of nancial markets and corporate strategies. José and Kim are excellent complements to our Board and we very much look forward to working with them as we continue to pursue TJX’s many avenues for global growth.

We would like to sincerely thank our Associates worldwide for their efforts in 2020 and for their commitment to keeping our business running. We are also grateful to all of our customers for their patronage. Finally, we thank our fellow shareholders, vendors, and other business associates for their support throughout the year.

Carol Meyrowitz Ernie Herrman EXECUTIVE CHAIRMAN CHIEF EXECUTIVE OFFICER OF THE BOARD AND PRESIDENT

43692 LETTER CC2021.indd 2 4/7/21 1:26 PM FORM 10-K

CONTENTS PAGE

Business Overview 4 Store Locations 21 Management’s Discussion and Analysis 25 Report of Independent Registered Public Accounting Firm F-2 Consolidated Financial Statements F-4 Notes to Consolidated Financial Statements: F-9 Segment Information F-23 Selected Quarterly Financial Data F-40

43692 NAR CC2021.indd 3 4/7/21 11:04 AM TJX STOCK PERFORMANCE

Five-Year Cumulative Performance of TJX Stock Compared with the S&P 500 Index and the Dow Jones Apparel Retailers Index

225 S&P 200 TJX

175 DJARI

150

125

100 DOLLARS 75

0 BASE YEAR 2017 2018 2019 2020 2021 FISCAL YEARS

The line graph above compares the cumulative performance of TJX’s common stock with the S&P 500 Index and the Dow Jones Apparel Retailers Index as of the date nearest the end of TJX’s scal year for which index data is readily available for each year in the ve-year period ended January 30, 2021. The graph assumes that $100 was invested on January 29, 2016, in each of TJX’s common stock, the S&P 500 Index, and the Dow Jones Apparel Retailers Index, and that all dividends were reinvested.

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Note D. Accumulated Other Comprehensive (Loss) Income BDJCIH>C8AJ9:9>C88JBJA6I:9DI=:G8DBEG:=:CH>K:ADHH >C8DB:G:A6I:IDI=:DBE6CNYH;DG:>DC 69?JHIB:CIH <6>CHADHH:HDCC:I>CK:HIB:CI9:G>K6I>K:H 9:;:GG:9<6>CHADHH:HDCE:CH>DC6C9DI=:GEDHI G:I>G:B:CID7A><6I>DCH 6C9686H=;ADL=:9<:DC>HHJ:99:7I 6AAD;L=>8=6G:G:8DG9:9C:ID;I=:G:A6I:9>C8DB:I6M:;;:8IH .=:;DAADL>CAH I=:8=6C<:H>C88JBJA6I:9DI=:G8DBEG:=:CH>K:ADHH >C8DB:;DG;>H86A ;>H86A6C9;>H86A

88JBJA6I:9 DG:>K: #CI=DJH6C9H .G6CHA6I>DC :C:;>IDHIH ":9<:DC:7I &DHH #C8DB: Balance, February 3, 2018 99>I>DCHIDDI=:G8DBEG:=:CH>K:ADHH DG:>DC69?JHIB:CIHC:ID;I6M:H D; V V ,:8DI>DCD;C:I<6>CHADHH:HDC>CK:HIB:CI=:9<:H C:ID;I6M:HD; V V ,:8DI>DCD;C:I<6>CHADHH:HDC7:C:;>ID7A><6I>DCH C:ID;I6M:HD; V V ,:8A6HH>;>86I>DCH;GDBDI=:G8DBEG:=:CH>K:ADHHIDC:I >C8DB: *:CH>DCH:IIA:B:CI8=6G<:C:ID;I6M:HD; V V BDGI>O6I>DCD;ADHHDC86H=;ADL=:9<:C:ID; I6M:HD;) V V BDGI>O6I>DCD;EG>DGH:GK>8:8DHI6C99:;:GG:9<6>CH ADHH:HC:ID;I6M:HD; V V Balance, February 2, 2019 99>I>DCHIDDI=:G8DBEG:=:CH>K:ADHH DG:>DC69?JHIB:CIHC:ID;I6M:H D; V V ,:8DI>DCD;C:I<6>CHADHH:HDC7:C:;>ID7A><6I>DCH C:ID;I6M:HD; V V ,:8A6HH>;>86I>DCH;GDBDI=:G8DBEG:=:CH>K:ADHHIDC:I >C8DB: BDGI>O6I>DCD;ADHHDC86H=;ADL=:9<:C:ID;I6M:H D; V V BDGI>O6I>DCD;EG>DGH:GK>8:8DHI6C99:;:GG:9<6>CH ADHH:HC:ID;I6M:HD; V V Balance, February 1, 2020 99>I>DCHIDDI=:G8DBEG:=:CH>K:ADHH DG:>DC69?JHIB:CIHC:ID;I6M:H D; V V ,:8DI>DCD;C:I<6>CHADHH:HDC7:C:;>ID7A><6I>DCH C:ID;I6M:HD; V V ,:8A6HH>;>86I>DCH;GDBDI=:G8DBEG:=:CH>K:ADHHIDC:I >C8DB: BDGI>O6I>DCD;ADHHDC86H=;ADL=:9<:C:ID;I6M:H D; V V BDGI>O6I>DCD;EG>DGH:GK>8:8DHI6C99:;:GG:9<6>CH ADHH:HC:ID;I6M:HD; V V Balance, January 30, 2021 $ (441,532) $ (164,802) $ 263 $ (606,071)

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

>H86A3:6G C9:9 0=D0AH :7GJ6GN :7GJ6GN BDJCIH>CI=DJH6C9H:M8:EIE:GH=6G:6BDJCIH "3*$&"2.*.(30&23)"2& (:I>C8DB: 1:><=I:96K:G6<:8DBBDCHID8@DJIHI6C9>C<;DG76H>8:6GC>CDC 6H>8:6GC>CC8DB: 1:><=I:96K:G6<:8DBBDCHID8@DJIHI6C9>C<;DG76H>8:6GC>CDC HHJB:9:M:G8>H:K:HI>CDCH6C96L6G9H 1:><=I:96K:G6<:8DBBDCHID8@DJIHI6C9>C<;DG9>AJI:9:6GC>CDC >AJI:9:6GC>CK>9:C9H9:8A6G:9E:GH=6G:6 6 .=:G:L:G:CD9>K>9:C9H9:8A6G:99JG>CGHII=G::FJ6GI:GHD;;>H86A .=:DBE6CN9:8A6G:969>K>9:C9D; E:GH=6G:>CI=:;DJGI=FJ6GI:G D;;>H86A

.=:L:><=I:96K:G6<:8DBBDCH=6G:H;DGI=:9>AJI:9:6GC>CDC:M8AJ9:I=:>BE68ID;DJIHI6C9>CDCH>;I=:6HHJB:9EGD8::9HE:GH=6G:D;I=:DEI>DC>H>C:M8:HHD;I=:6K:G6<:EG>8:D;.$2YH8DBBDCHID8@;DGI=:G:A6I:9 ;>H86AE:G>D9H -J8=DEI>DCH6G::M8AJ9:97:86JH:I=:NLDJA9=6K:6C6CI>9>AJI>K::;;:8I .=:G:L:G: B>AA>DC B>AA>DC 6C9 B>AA>DCHJ8=DEI>DCH:M8AJ9:96II=::C9D;;>H86A ;>H86A6C9;>H86A G:HE:8I>K:AN

">C48=0=280;=BCAD<4=CB H6G:HJAID;>IHDE:G6I>C<6C9;>C6C8>C<68I>K>I>:H .$2>H:MEDH:9IDB6G@:IG>H@H;GDB8=6C<:H>C>CI:G:HI6C9;DG:>H@HB6N69K:GH:AN6;;:8I.$2YHDE:G6I>CC6C8>6AEDH>I>DC .$2H::@HIDB>C>B>O:G>H@;GDB8=6C<:H>C>CI:G:HI6C9;DG:>K6I>K:;>C6C8>6A>CHIGJB:CIHL=:C6C9IDI=::MI:CI9::B:96EEGDEG>6I: .$29D:HCDIJH:9:G>K6I>K:;>C6C8>6A>CHIGJB:CIH ;DGIG69>CK:EJGEDH:H6C99D:HCDIJH:6CNA:K:G6<:99:G>K6I>K:;>C6C8>6A>CHIGJB:CIH .$2G:8DO:H6AA 9:G>K6I>K:>CHIGJB:CIH6H:>I=:G6HH:IHDGA>67>A>I>:H>CI=:HI6I:B:CIHD;;>C6C8>6AEDH>I>DC6C9B:6HJG:HI=DH:>CHIGJB:CIH6I;6>G K6AJ: .=:;6>GK6AJ:HD;I=:9:G>K6I>K:H6G:8A6HH>;>:96H6HH:IHDGA>67>A>I>:H 8JGG:CIDGCDC 8JGG:CI 76H:9JEDCK6AJ6I>DCG:HJAIH 6C9H:IIA:B:CI96I:HD;I=:>C9>K>9J6A8DCIG68IH =6C<:HIDI=:;6>GK6AJ:D;9:G>K6I>K:8DCIG68IHI=6I9DCDIFJ6A>;N;DG=:9<: 688DJCI>C<6G:G:EDGI:9>C:6GC>CCI=:E:G>D9D;I=:8=6C<: DG9:G>K6I>K:HI=6IFJ6A>;N;DG=:9<:688DJCI>C< 8=6C<:H>CI=: ;6>GK6AJ:D;I=:9:G>K6I>K:H6G::>I=:GG:8DG9:9>CH=6G:=DA9:GHY:FJ>IN6H68DBEDC:CID;DI=:G8DBEG:=:CH>K:>C8DB:DG6G: G:8DO:98JGG:CIAN>C:6GC>CI=6CD;;H:II>C<69?JHIB:CI6<6>CHII=:76H>HD;I=:>I:B7:>C<=:9<:9 )%3%,5%, /.42!#43 .$2=:9<:HEDGI>DCHD;>IH:HI>B6I:9CDI>DC6A9>:H:AG:FJ>G:B:CIH76H:9DCI=:9>:H:A;J:A:ME:8I:9ID7:8DCHJB:97N >C9:E:C9:CI;G:><=I86GG>:GHIG6CHEDGI>C<.$2YH>CK:CIDGN #C9:E:C9:CI;G:><=I86GG>:GHIG6CHEDGI>C<.$2YH>CK:CIDGN8=6G<:.$2 6B>A:6<:HJG8=6G<:76H:9DCI=:EG>8:D;9>:H:A;J:A .=:=:9<:6I><6I:I=:KDA6I>A>IND;9>:H:A;J:A EG>8>C<6C9I=:G:HJAI>CA:HJG8=6G<:HE6N67A:7N.$2 7NH:II>C<6;>M:9EG>8:E:G<6AADC;DGI=:E:G>D97:>C<=:9<:9 JG>C<;>H86A .$2:CI:G:9>CID6DCD;>IH:HI>B6I:9CDI>DC6A9>:H:AG:FJ>G:B:CIH;DG;>H86A .=:=:9<:6C<6I$6CJ6GN G:A6I:ID6EEGDM>B6I:AND;.$2YH:HI>B6I:9CDI>DC6A9>:H:A G:FJ>G:B:CIH;DG;>H86A .=:H:9>:H:A;J:A=:9<:6AAH:IIA:I=GDJ<=DJI;>H86A6C9I=:;>GHIBDCI=D;;>H86A .$2:A:8I:9CDIID6EEAN=:9<:688DJCI>CCID;DGL6G9;DG:>C:8DCDB>8=:9<:HDCEDGI>DCHD;B:G8=6C9>H:EJG8=6H:H B69:6C96CI>8>E6I:9ID7:B69:7NI=:DBE6CNYHDE:G6I>DCH>C8JGG:C8>:HDI=:GI=6CI=:>GG:HE:8I>K:;JC8I>DC6A8JGG:C8>:H EG>B6G>AN>C.$2#CI:GC6I>DC6A6C9.$26C696 .=:H:8DCIG68IHINE>86AAN=6K:6I:GBD;IL:AK:BDCI=HDGA:HH .=:8DCIG68IH DJIHI6C9>C<6I$6CJ6GN 8DK:G6EDGI>DCD;HJ8=68IJ6A6C96CI>8>E6I:9B:G8=6C9>H:EJG8=6H:HI=GDJ<=DJI;>H86A 99>I>DC6AAN .$2YHDE:G6I>DCH>C JGDE:6G:HJ7?:8IID;DG:>G7JN>C<;JC8I>DC7:>C< 8:CIG6A>O:9>CI=:/ % AAB:G8=6C9>H:>HEJG8=6H:98:CIG6AAN>CI=:/ % 6C9I=:CH=>EE:96C97>AA:9IDI=:G:I6>A:CI>I>:H>C DI=:G8DJCIG>:H .=>H>CI:G8DBE6CN7>AA>CC:HH:HY JGD9:CDB>C6I:9DE:G6I>DCH8G:6I:H:MEDHJG:IDI=: 7JN>C<:CI>IN;DG8=6C<:H>CI=::M8=6C<:G6I:7:IL::CI=: JGD6C9G>I>H=*DJC9 .=:>C;ADLD; JGDHIDI=:8:CIG6A7JN>C< :CI>INEGDK>9:H6C6IJG6A=:9<:;DGB:G8=6C9>H:EJG8=6H:9;GDBI=>G9 E6GINK:C9DGHI=6I>H9:CDB>C6I:9>C JGDH "DL:K:G L>I=I=:C6I:9G:I6>ADE:G6I>DCH I=:>CI:G8DBE6CN7>AA>CII:9IDI=: JGD9:CDB>C6I:9 DE:G6I>DCHB6NHDB:I>B:H<:C:G6I: JGDH>C:M8:HHD;I=DH:C::9:9IDB::IB:G8=6C9>H:8DBB>IB:CIHIDDJIH>9:K:C9DGH .$2 86A8JA6I:HI=>H:M8:HH JGD:MEDHJG::68=BDCI=6C9:CI:GH>CID;DGL6G98DCIG68IHD;6EEGDM>B6I:AN96NH9JG6I>DCID B>I><6I:I=::MEDHJG: .$2:A:8I:9CDIID6EEAN=:9<:688DJCI>CCID9:G>K6I>K:8DCIG68IH <:C:G6AAN9:H>GK6AJ:=:9<:H ID=:9<:>CI:G8DBE6CN9:7I6C9 >CI:G8DBE6CN>CI:G:HIE6N67A: .=:8=6C<:H>C;6>GK6AJ:D;I=:H:8DCIG68IH6G:G:8DG9:9>C-:AA>C< <:C:G6A6C969B>C>HIG6I>K: :ME:CH:H6C96G:D;;H:I7NB6G@>CC<>I:BID;6>GK6AJ:>CI=:H6B:E:G>D9 /EDCH:IIA:B:CI I=:G:6A>O:9<6>CH6C9 ADHH:HDCI=:H:8DCIG68IH6G:D;;H:I7NI=:G:6A>O:9<6>CH6C9ADHH:HD;I=:JC9:GAN>C<>I:B>C-:AA>C< <:C:G6A6C969B>C>HIG6I>K: :ME:CH:H .$2E:G>D9>86AANG:K>:LH>IHC:I>CK:HIB:CIH>C;DG:>9>6G>:H JG>CH86AFJ6GI:G:C9:9'6N .$2:CI:G:9 >CIDC:I>CK:HIB:CI=:9<:8DCIG68IHG:A6I:9ID6EDGI>DCD;>IH>CK:HIB:CI>C.$26C696 JG>CH86AFJ6GI:G:C9:9JCK:HIB:CI=:9<:8DCIG68IH .=:G:B6>C>C ;:D;I=:;DG:>9:96 C6IJG6A=:9<:IDI=:9:8A6G:986H=9>K>9:C9;GDB.$26C696 .=:8DCIG68IHH:IIA:99JG>CH86A G:HJAI>C<>C6EG: I6M<6>CD;B>AA>DCL=>A:9:H>CK:HIB:CI=:9<:6C9HJ7H:FJ:CIID9: 9:H>DC 6EG: I6M<6>CD;B>AA>DC .=:B>AA>DC<6>C>HG:;A:8I:9>CH=6G:=DA9:GH:FJ>IN6H68DBEDC:CID;DI=:G8DBEG:=:CH>K: >C8DB: .=:B>AA>DC<6>CHJ7H:FJ:CIID9: 9:H>DC>HG:;A:8I:9>CI=:>C8DB:HI6I:B:CID;;H:II>C<6;DG:>AA>DCDCI=:9:8A6G:99>K>9:C9H

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 BOARD OF DIRECTORS COMMITTEES OF THE BOARD OF DIRECTORS

Carol Meyrowitz Ernie Herrman AUDIT COMMITTEE Executive Chairman of the Board, Chief Executive Officer Michael F. Hines, Chair The TJX Companies, Inc. and President, Rosemary T. Berkery The TJX Companies, Inc. David T. Ching Zein Abdalla C. Kim Goodwin Former President, Michael F. Hines Amy B. Lane PepsiCo, Inc. Former Executive Vice President and CORPORATE GOVERNANCE José B. Alvarez Chief Financial Officer, COMMITTEE Member of the Faculty, Dick’s Sporting Goods, Inc. Willow B. Shire, Chair Harvard Business School Zein Abdalla Amy B. Lane José B. Alvarez Alan M. Bennett Former Managing Director David T. Ching Lead Director, and Group Leader, Jackwyn L. Nemerov The TJX Companies, Inc.; Global Retailing Investment Former President and Banking Group, EXECUTIVE COMPENSATION Chief Executive Officer, Merrill Lynch & Co., Inc. COMMITTEE H&R Block, Inc. Rosemary T. Berkery, Chair Jackwyn L. Nemerov José B. Alvarez Rosemary T. Berkery Former President and Alan M. Bennett Former Chairman, Chief Operating Officer, Jackwyn L. Nemerov UBS Bank USA; Ralph Lauren Corporation Willow B. Shire Former Vice Chairman, UBS Wealth Management John F. O’Brien FINANCE COMMITTEE Americas Retired Chief Executive Officer Amy B. Lane, Chair and President, Allmerica Zein Abdalla David T. Ching Financial Corporation Michael F. Hines Former Senior Vice President John F. O’Brien and Chief Information Officer, Willow B. Shire Safeway Inc. Former Executive Consultant, EXECUTIVE COMMITTEE Orchard Consulting Group Carol Meyrowitz, Chair C. Kim Goodwin Alan M. Bennett Private Investor Amy B. Lane

43692 NAR CC2021.indd 90 4/7/21 11:04 AM EXECUTIVE OFFICERS AND BUSINESS LEADERSHIP

Carol Meyrowitz BUSINESS LEADERSHIP Executive Chairman of the Board Marmaxx (T.J. Maxx and Marshalls) Ernie Herrman Tim Miner Chief Executive Ofﬁcer and President President

HomeGoods (HomeGoods and Homesense) SENIOR EXECUTIVE John Ricciuti VICE PRESIDENTS President

Ken Canestrari TJX Canada (Winners, HomeSense, and Marshalls) Group President Robert Greening President Scott Goldenberg Chief Financial Ofﬁcer TJX Europe (T.K. Maxx and Homesense) Louise Greenlees Douglas Mizzi President Group President TJX Australia (T.K. Maxx) Richard Sherr Connie McCulloch Group President President

TJX Digital, U.S. (tjmaxx.com, marshalls.com, and Sierra) Mark DeOliveira President

43692 NAR CC2021.indd 91 4/7/21 11:04 AM SHAREHOLDER INFORMATION

Transfer Agent and Registrar For the store nearest you, call (local) or visit us online at: COMMON STOCK For shareholder inquiries, certi cates for transfer, UNITED STATES and address changes: T.J. Maxx: 1-800-2-TJMAXX tjmaxx.com COMPUTERSHARE Marshalls: 1-800-MARSHALLS REGULAR MAIL: marshalls.com P.O. Box 505005, Louisville, KY 40233-5005 HomeGoods: 1-800-614-HOME OVERNIGHT DELIVERY: homegoods.com 462 South 4th Street, Suite 1600, Louisville, KY 40202 Sierra: 1-800-713-4534 WEBSITE: sierra.com www.computershare.com/investor Homesense: 1-855-660-HOME CONTACT ONLINE AT: homesense.com https://www-us.computershare.com/investor/contact CONTACT VIA PHONE AT: CANADA 1-866-606-8365 Winners: 1-800-646-9466 1-201-680-6578 (Outside the U.S.) winners.ca HomeSense: 1-800-646-9466 Trustee homesense.ca U.S. Bank National Association Public Notes: 1.15%, 1.60%, 2.25%, 2.50%, 2.75%, Marshalls: 1-800-646-9466 3.50%, 3.75%, 3.875%, and 4.50% notes marshalls.ca

Independent Registered Public Accounting Firm EUROPE PricewaterhouseCoopers LLP T.K. Maxx: 01923 473561 (U.K.) tkmaxx.com (U.K.) Form 10-K T.K. Maxx: 01 2476126 (Ireland) Information concerning the Company’s operations tkmaxx.ie (Ireland) and nancial position is provided in the Company’s 10-K, which is included in this report and led with T.K. Maxx: 0211 88 223 267 (Germany) the Securities and Exchange Commission. A copy tkmaxx.de (Germany) of the Form 10-K may also be obtained without T.K. Maxx: 022 551 07 27 (Poland) charge at TJX.com or by writing or calling: tkmaxx.pl (Poland) The TJX Companies, Inc. T.K. Maxx: 01 9287669 (Austria) Global Communications tkmaxx.at (Austria) 770 Cochituate Road Framingham, MA 01701 T.K. Maxx: 0107114866 (Netherlands) 508-390-2323 tkmaxx.nl (Netherlands) Homesense: 01923 473561 (U.K.) Investor Relations homesense.com (U.K.) Analysts and investors seeking information about the Company should visit TJX.com or contact: Homesense: 01 2476126 (Ireland) homesense.ie (Ireland) Debra McConnell Senior Vice President, Global Communications AUSTRALIA 508-390-2323 T.K. Maxx: 1300768913 tkmaxx.com.au Executive Ofﬁces Framingham, MA 01701 To shop us online, visit: tjmaxx.com Public Information and SEC Filings marshalls.com Visit our corporate website: TJX.com sierra.com tkmaxx.com

43692 NAR CC2021.indd 92 4/7/21 11:04 AM The TJX Companies, Inc., the leading off-price apparel and home CANADA fashions retailer in the U.S. and worldwide, is ranked 80 among Fortune 500 companies and operates four major divisions: Marmaxx, HomeGoods, TJX Canada, and TJX International Winners is the leading off-price family apparel and home fashions (comprised of Europe and Australia). With more than 4,500 retailer in Canada and was acquired by TJX in 1990. Select stores stores, four e-commerce sites, and approximately 320,000 offer fine jewelry and some feature The Runway at Winners, a high- Associates, we see ourselves as a global, off-price, value retailer. end designer department. Winners operated 280 stores at 2020’s Our mission is to deliver great value to our customers every year end. day. We do this by offering a rapidly changing assortment of quality, fashionable, brand name, and designer merchandise at prices generally 20% to 60% below full-price retailers’ (including department, specialty, and major online retailers) regular prices on comparable merchandise. With our value proposition, we HomeSense introduced the off-price home fashions concept to Canada reach a broad range of fashion- and value-conscious customers in 2001. This chain offers a broad array of home basics and home across many income levels and demographic groups. décor merchandise. It operates in a standalone and superstore format, which pairs HomeSense with Winners or Marshalls. At 2020’s year end, UNITED STATES HomeSense operated 143 stores in Canada.

T.J. Maxx was founded in 1976 and together with Marshalls forms Marshalls launched in Canada in 2011. In Canada, Marshalls offers Marmaxx, the largest off-price retailer of apparel and home fashions great, off-price values on family apparel, with an expanded footwear in the U.S. T.J. Maxx launched its e-commerce site, tjmaxx.com, in department, and The CUBE, an exciting juniors’ department. Marshalls 2013. T.J. Maxx operated 1,271 stores in 49 states and Puerto Rico operated 102 stores in Canada at 2020’s year end. at 2020’s year end. T.J. Maxx offers family apparel, home fashions, and expanded fine jewelry and accessories departments, as well as The Runway at Maxx, a high-end designer department, in EUROPE some stores.

Launched in 1994, T.K. Maxx introduced off-price retailing to the Marshalls was acquired by TJX in 1995 and with T.J. Maxx forms U.K. and Ireland and is the only brick-and-mortar, off-price apparel Marmaxx. Marshalls operated 1,131 stores in 48 states and Puerto and home fashions retailer of significant size in Europe. T.K. Maxx Rico at 2020’s year end. Marshalls also launched its e-commerce expanded into Germany in 2007, Poland in 2009, and Austria and the site, marshalls.com, in 2019. Marshalls offers family apparel Netherlands in 2015. T.K. Maxx offers top-brand family apparel as well and home fashions, including expanded footwear and men’s as home fashions, and in some stores, the Mod Box, a department departments, and The CUBE, a department specifically for juniors. specifically for younger customers, and Gold Label, which features high-end designer labels. T.K. Maxx ended 2020 with 602 stores. It also operates tkmaxx.com in the U.K.

HomeGoods, introduced in 1992, is the leading off-price retailer Homesense introduced the off-price home fashions of home fashions in the U.S. HomeGoods offers an eclectic concept to the U.K. in 2008 and expanded into Ireland in assortment of home fashions, including furniture, rugs, lighting, soft 2017. In the U.K., Homesense operates in a standalone home, decorative accessories, tabletop, and cookware as well as and superstore format, which pairs Homesense with expanded pet, kids, and gourmet food departments. HomeGoods T.K. Maxx. This business offers our customers great operates in a standalone and superstore format, which pairs values on top-quality home fashions, including home HomeGoods with T.J. Maxx or Marshalls. At 2020’s year end, basics and home décor merchandise. At 2020’s year end, Homesense HomeGoods operated 821 stores in 47 states and Puerto Rico. operated 78 stores.

AUSTRALIA

Sierra, acquired in 2012 and rebranded from Sierra Trading Post in 2018, is an off-price retailer of brand name and quality outdoor gear, family apparel and footwear, sporting goods, and home fashions. In 2015, TJX acquired Trade Secret, an Australian off-price retailer that Sierra launched its e-commerce site in 1998. At 2020’s year end, was converted to T.K. Maxx in 2017. The Australian chain offers branded Sierra operated sierra.com and 48 stores in the U.S. apparel for the family, as well as footwear, accessories, and home fashions, all at great values. With the first store opening in 1992, it In 2017, Homesense launched in the U.S. Our 34 is now a 62-store chain with locations in New South Wales, Victoria, Homesense stores complement HomeGoods, offering Queensland, the Australian Capital Territory, and South Australia. a differentiated mix and expanded departments, such as large furniture, ceiling lighting, and rugs, as well as different departments, such as a general store and an entertaining marketplace.

43692 COV CC2021.indd 3 4/7/21 1:35 PM WE ARE ONE TJX

The TJX Companies, Inc. 770 Cochituate Road Framingham, MA 01701 508-390-1000 TJX.com

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