Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 7

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 7
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 capital management strategy.

| Additional information can be found inItem of Business No. 7 — Shareholder Proposal – Publish a Report on the Company’s LGBTQIA+ Efforts in its Human Capital Management Strategysection of this proxy statement. |     | Page101 |

| 2025 Proxy Statement |     | 9 |

TABLE OF CONTENTS Proxy Summary __________________________________

Item No. 8 — Shareholder Proposal – Publish a Climate Transition Plan to Achieve Stated Goals The Board recommends a vote AGAINSTthe shareholder proposal requesting that our Board issue a climate transition action plan above and beyond our existing disclosures.

| Additional information can be found inItem of Business No. 8 — Shareholder Proposal – Publish Climate Transition Plan to Achieve Stated Goalssection of this proxy statement. |     | Page104 |

| 10 |     | 2025 Proxy Statement |

TABLE OF CONTENTS

| BEST BUY CO., INC.         
 7601 Penn Avenue South     
 Richfield, Minnesota 55423 |

| Proxy Statement |

Regular Meeting of Shareholders — June 13, 2025 General Information This proxy statement is furnished in connection with the solicitation of proxies by the Board of Directors (“Board”) of Best Buy Co., Inc. (“Best Buy,” “we,” “us,” “our” or the “Company”) to be voted at our 2025 Regular Meeting of Shareholders (the “Meeting”) to be held virtually on Friday, June 13, 2025, at 9:00 a.m., Central Time, at www.virtualshareholdermeeting.com/BBY2025or at any postponement or adjournment of the Meeting. On or about May 1, 2025, we mailed or made available our proxy materials, including the proxy statement, our Annual Report and form of proxy or the Notice of Internet Availability. Background What is the purpose of the Meeting? At the Meeting, shareholders will vote on the items of business outlined in the Notice of 2025 Regular Meeting of Shareholders (“Meeting Notice”) included as the cover page to this proxy statement. In addition, management will provide a brief update on our business and respond to questions from shareholders. Why did I receive this proxy statement and a proxy card or the Notice of Internet Availability? You received this proxy statement and a proxy card or the Notice of Internet Availability because you owned shares of Best Buy common stock as of April 14, 2025, the record date for the Meeting and are entitled to vote on the Items of Business at the