Congress of the United States Washington, BC 20515 June 1, 2018 Co-Chairs & Co-Managing Partners Bain Capital, LP 200 Clarendon Street Boston, MA 02116 Board of Directors KKR & Co. LP, 9 West 57th Street Suite 4200 New York, NY 10019 Board of Trustees. Vornado Realty Trust, 888 Seventh Avenue New York, NY 10019 ‘To Whom It May Concern: We write to urge you to do everything in your power to support the thousands of Toys ‘R’ Us workers who will soon lose their jobs as the company closes its doors. ‘The planned closure of Toys ‘R’ Us, headquartered in New Jersey, marks the end of an iconic American company with approximately 33,000 workers, including more than 1,600 employees in our state. The heart of this story is not about industry changes, big-box retailers, or e-commerce. Rather, it was a deal—with some $5 billion in debt—that was flawed from the start, Between debt service and hundreds of millions of dollars in fees to your firms, the company was simply unable to make the investments in operations and technology needed to adapt and compete in the ever- changing retail sector. Absent crippling debt payments, as well as a reported $470 million in management fees and payments to Bain Capital, KKR, and Vornado Realty Trust, we have little doubt Toys *R’ Us would be a profitable company and job creator today. Now, as Toys “R? Us plans to close its U.S. stores, the 33,000 workers ac:oss the country who have supported Toys *R’ Us are left to face the consequences. Many Toys ‘R’ Us employees have spent years, even decades, as anchors of their communities, operating Toys ‘R’ Us stores, distribution centers, and facilities across the country. But after the company's bankruptcy and planned closure, all of these workers will be left without a job—and, crucially, without the severance pay that employees often receive after mass layofts. 1Still, there is a chance to do right by the company’s workers. We urge you to fully examine and adopt any and all measures to support the 33,000 Toys ‘R’ Us employees who are losing their jobs through no fault of their own and now have to navigate the hard transition, We can all agree that they deserve nothing less than the fullest support possible. ‘Thank you for your consideration. Sincerely, Cory A. Booker Robert Menendez, Bill Pascrell, Jr United States Senator United States Senator ‘Member of Congress