Dollar General (DG) Prices $1.5B Notes Offering

Dollar General Corporation (NYSE: DG) (“Dollar General” or the “Company”) today announced the pricing of an offering (the “Offering”) of $500,000,000 of its 5.200% Senior Notes due 2028 (the “2028 Notes”) and $1,000,000,000 of its 5.450% Senior Notes due 2033 (the “2033 Notes” and, collectively with the 2028 Notes, the “Notes”). The 2028 Notes will pay interest at a rate of 5.200% per annum and mature on July 5, 2028. The 2033 Notes will pay interest at a rate of 5.450% per annum and mature on July 5, 2033. Dollar General will pay interest on the Notes semi-annually on January 5 and July 5 of each year, commencing January 5, 2024. Issuance of the Notes is expected to occur on June 7, 2023, subject to the satisfaction of customary closing conditions.

The Company will use the net proceeds from the sale of the Notes to reduce its commercial paper notes outstanding (excluding $204.3 million of commercial paper notes held by one of its wholly-owned subsidiaries) and for general corporate purposes, which may include the repayment of other indebtedness.

BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC and J.P. Morgan Securities LLC are serving as joint book-running managers for the Offering. BMO Capital Markets Corp., Fifth Third Securities, Inc., Regions Securities LLC and Truist Securities, Inc. are serving as senior co-managers for the Offering. Huntington Securities, Inc., KeyBanc Capital Markets Inc., PNC Capital Markets LLC, Capital One Securities, Inc. and R. Seelaus & Co., LLC are serving as co-managers for the Offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Copies of the prospectus and related supplement may be obtained by contacting any of those joint book-running managers whose contact information is listed at the bottom of this announcement.

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