Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 2

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 2
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 nearly 8 million paid members. My Best Buy not only provides value to members but also serves as a source of growth for our rich, first-party data. Our data, in turn, fuels other major initiatives, like Best Buy Ads, our retail media network. During the fiscal year, the Company continued to build and scale new profit streams. We believe fiscal year 2026 will be pivotal for Best Buy Ads, and we expect the rollout of our U.S. Marketplace to provide further growth opportunities in our core business. In fiscal year 2025, Best Buy returned $1.3 billion to shareholders through share repurchases and dividends. Demonstrating our commitment to being a premium dividend payer, the Company increased its quarterly dividend to $0.95 per share in fiscal 2026. We are proud to have raised our quarterly dividend for 12 consecutive years. We also continued to support our employees. The Company’s ongoing efforts in onboarding, training and fostering a stable and engaging culture led to remarkable achievements. Our dedication to our people is grounded in the Company’s values and amplified by our commitment to a culture of belonging. I am proud of the results. In fiscal year 2025, the Company had the lowest employee turnover in six years and achieved record high employee engagement scores. We look forward to building on this momentum and are incredibly confident in the strategy and in the dedication of more than 80,000 employees who work passionately to bring it to life. Finally, we believe it is a tremendous privilege to compete with the world’s leading retailers. Best Buy continues to be the trusted source for cutting-edge technology, offering a broad range of products, unique in-store and digital experiences, and expert services. Our deep commitment to enriching lives through technology remains at the core of everything we do. On behalf of the Board of Directors, I would like to extend gratitude to every employee for their unwavering commitment to our customers, partners and communities. It is an honor to work together in pursuit of the Company’s purpose and to generate value for our stakeholders. Thank you for your continued support of this extraordinary Company.

| David Kenny        
 Chair of the Board |

TABLE OF CONTENTS

Table of Contents

| Proxy Summary                                                                    |     |  1 |
| General Information                                                              |     | 11 |
| Background                                                                       |     | 11 |
| Voting Procedures                                                                |     | 13 |
| Proxy Solicitation                                                               |     | 15 |
| Additional Information                                                           |     | 16 |
| Corporate Governance at Best Buy