X0306 4 2020-07-09 0 0000794367 Macy's, Inc. M 0001457264 Gennette Jeffrey C/O MACY'S, INC. 151 WEST 34TH STREET NEW YORK NY 10001 1 1 0 0 Chairman and CEO Common Stock 4456.819 I By 401(k) Plan Restricted Stock Units 2020-07-09 4 A 0 546757 0 A Common Stock 546757 546757 D Reflects the reporting person's interest in Macy's stock under the Issuer's 401(k) plan, derived by dividing the value of the undivided interest of the reporting person in the applicable investment fund as of July 9, 2020 by $6.63, the stock price of such date. Each restricted stock unit represents the equivalent of one share of the Issuer's common stock. The restricted stock units vest one-fourth on each of the first, second, third and fourth anniversaries of the date granted. /s/ Steven R. Watts, as attorney-in-fact for Jeffrey Gennette pursuant to a Power of Attorney 2020-07-10