On July 22, 2011, Big Lots, Inc., its wholly-owned subsidiaries, Big Lots Stores, Inc. and Big Lots Canada, Inc. (formerly, Liquidation World Inc.), as borrowers, and certain other subsidiaries, as guarantors, entered into a new US$700 million five-year unsecured credit facility (“2011 Credit Agreement”) with PNC Bank National Association, as administrative agent, PNC Bank Canada Branch, as Canadian agent, and certain lenders. The 2011 Credit Agreement replaced the US$500 million three-year unsecured credit facility entered into on April 28, 2009 (“2009 Credit Agreement”). The proceeds of the 2011 Credit Agreement are available for general corporate purposes, working capital and to repay certain indebtedness, including amounts due under the 2009 Credit Agreement.

Borden Ladner Gervais LLP acted for the agents and the lenders in Canada, with a team that included Howard Silverman, Ken Atlas, Glen Bowman and Bobby Wang.