Depositary Shares

Bread Financial (BFH) priced an underwritten offering of depositary shares, each representing a 1/40th interest in Series A Non-Cumulative Perpetual Preferred Stock, with a $25 liquidation preference. The offering is expected to close on November 25, 2025, and generate approximately $72.6 million in net proceeds. BFH intends to use the funds for general corporate purposes, including potential contributions to Comenity Capital Bank and share repurchases and will seek NYSE listing for the depositary shares.