Explanation of Responses:
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(1)
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Options became exercisable as follows: 5,096 on March 21, 2009; 5,095 on March 21, 2010; 5,096 on March 21, 2011 and 5,095 on March 21, 2012.
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(2)
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Options became exercisable as follows: 2,803 on March 19, 2011; 2,803 on March 19, 2012; 2,803 on March 19, 2013 and 2,803 on March 19, 2014.
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(3)
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Options became exercisable as follows: 7,023 on March 25, 2012; 7,022 on March 25, 2013; 7,022 on March 25, 2014; 7,022 on March 25, 2015.
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(4)
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Options became exercisable as follows: 6,138 on March 23, 2013; 6,137 on March 23, 2014; 6,137 on March 23, 2015 and 6,137 on March 23, 2016.
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(5)
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Options became exercisable as follows: 7,408 on March 19, 2014; 7,407 on March 19, 2015; 7,407 on March 19, 2016 and 7,407 on March 19, 2017.
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(6)
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Options became exercisable as follows: 4,720 on March 28, 2015; 4,719 on March 28, 2016; 4,719 on March 28, 2017 and 4,719 on March 28, 2018.
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(7)
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Options became exercisable as follows: 6,810 on March 27, 2016; 6,809 on March 27, 2017; 6,809 on March 27, 2018 and 6,809 on March 27, 2019.
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(8)
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Options became exercisable as follows: 11,486 on March 23, 2017; 11,485 on March 23, 2018; 11,485 on March 23, 2019 and 11,485 on March 23, 2020.
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(9)
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Options became exercisable as follows: 24,428 on March 24, 2018; 24,427 on March 24, 2019; 24,427 on March 24, 2020 and 24,427 on March 24, 2021.
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(10)
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The Restricted Stock Units vest on August 25, 2020.
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(11)
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Each restricted stock unit represents a contingent right to receive one share of Macy's Common Stock.
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