Big Lots, Inc. Non-Employee Director Compensation Package and Share Ownership Requirements

Under the new minimum share ownership requirements applicable to all non-employee directors and senior executives, each director must, at a minimum, own common shares having an aggregate value equal to four times (4x) his or her annual Board retainer (as is in effect at the time compliance with the requirements is evaluated).  Each existing director will be required to meet the requirements on the date of the 2013 annual meeting of shareholders and at subsequent annual meetings.  A newly elected director will be required to meet the requirements on the date of the first annual meeting following the fifth anniversary of his or her election.  Shares counted toward these requirements include common shares held directly or through a broker, unvested restricted stock, and vested but unexercised in-the-mone y stock options2.