Market Overview

Office Depot Declares Quarterly Cash Dividend of $0.025 Per Share

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Office Depot, Inc. (NASDAQ:ODP), a leading omni-channel provider of
business services, products and technology, today announced that its
Board of Directors declared a dividend of $0.025 per share ($0.10 per
share on an annualized basis) on the common stock of the Company. The
dividend is payable on September 14, 2018, to shareholders of record at
the close of business on August 24, 2018.

About Office Depot, Inc.

Office Depot, Inc. (NASDAQ:ODP) is a leading provider of business
services and supplies, products and technology solutions through its
fully integrated omni-channel platform of approximately 1,400 stores,
online presence, and dedicated sales professionals and technicians to
small, medium and enterprise businesses. Through its banner brands
Office Depot®, OfficeMax®, CompuCom® and Grand&Toy®, the company offers
its customers the tools and resources they need to focus on their
passion of starting, growing and running their business. For more
information, visit officedepot.com,
download the Office Depot app on your iPhone
or Android
and follow @officedepot on Facebook, Twitter and Instagram.

Office Depot is a trademark of The Office Club, Inc. OfficeMax is a
trademark of OMX, Inc. CompuCom is a trademark of CompuCom Systems, Inc.
Grand&Toy is a trademark of Grand & Toy, LLC in Canada. ©2018 Office
Depot, Inc. All rights reserved. Any other product or company names
mentioned herein are the trademarks of their respective owners.

FORWARD LOOKING STATEMENTS

This communication may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements or disclosures may discuss goals, intentions and expectations
as to future trends, plans, events, results of operations, cash flow or
financial condition, or state other information relating to, among other
things, Office Depot, based on current beliefs and assumptions made by,
and information currently available to, management. Forward-looking
statements generally will be accompanied by words such as "anticipate,"
"believe," "plan," "could," "estimate," "expect," "forecast,"
"guidance," "outlook," "intend," "may," "possible," "potential,"
"predict," "project," "propose" or other similar words, phrases or
expressions, or other variations of such words. These forward-looking
statements are subject to various risks and uncertainties, many of which
are outside of Office Depot's control. There can be no assurances that
Office Depot will realize these expectations or that these beliefs will
prove correct, and therefore investors and stockholders should not place
undue reliance on such statements.

Factors that could cause actual results to differ materially from those
in the forward-looking statements include, among other things, the risk
that Office Depot is unable to transform the business into a
service-driven company or that such a strategy will result in the
benefits anticipated; the risk that Office Depot may not be able to
realize the anticipated benefits of the CompuCom transaction due to
unforeseen liabilities, future capital expenditures, expenses,
indebtedness and the unanticipated loss of key customers or the
inability to achieve expected revenues, synergies, cost savings or
financial performance; impact of weather events on Office Depot's
business; unanticipated changes in the markets for Office Depot's
business segments; the inability to realize expected benefits from the
disposition of the European and other international operations;
fluctuations in currency exchange rates, unanticipated downturns in
business relationships with customers or terms with the company's
suppliers; competitive pressures on Office Depot's sales and pricing;
increases in the cost of material, energy and other production costs, or
unexpected costs that cannot be recouped in product pricing; the
introduction of competing technology products and services; unexpected
technical or marketing difficulties; unexpected claims, charges,
litigation, dispute resolutions or settlement expenses; new laws,
tariffs and governmental regulations. The foregoing list of factors is
not exhaustive. Investors and stockholders should carefully consider the
foregoing factors and the other risks and uncertainties described in
Office Depot's Annual Report on Form 10-K, as amended, and Quarterly
Reports on Form 10-Q filed with the U.S. Securities and Exchange
Commission. Office Depot does not assume any obligation to update or
revise any forward-looking statements.

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