Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 97

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 97
---
 _________________________ Item of Business No. 5 — Shareholder Proposal For all of the above reasons, the Board believes that this proposal is not in the best interest of all of our shareholders because of the risk of abuse associated with shareholder action by written consent, including bypassing procedural protections that offer transparency and advance notice, both of which are afforded with a shareholder meeting, as well as Best Buy shareholders’ existing right to call a special meeting with a 10% threshold (for all matters other than in connection with a merger), Best Buy’s commitment to good corporate governance and Best Buy’s strong shareholder engagement program. Board Voting Recommendation The Board recommends that you vote AGAINSTthis proposal. IT IS INTENDED THAT, UNLESS OTHERWISE INSTRUCTED, THE SHARES REPRESENTED BY THE PROXY WILL BE VOTED “AGAINST” THE PROPOSAL SUPPORT FOR SHAREHOLDER RIGHT TO ACT BY WRITTEN CONSENT.

| 2025 Proxy Statement |     | 97 |

TABLE OF CONTENTS Item of Business No. 6 — Shareholder Proposal – Request to Cease CEI Participation General Information The Best Buy Board recommends a vote AGAINST this proposal and its opposition statement can be found below the proposal. This shareholder proposal has been submitted by the National Center for Public Policy Research, 2005 Massachusetts Ave. NW, Washington, DC 20036 (the beneficial owner of no less than 50 shares of Best Buy Common Stock). The proponent has requested we include the proposal and supporting statement in this proxy statement, and, if properly presented, the proposal will be voted on at the Regular Meeting of Shareholders. This proposal and supporting statement are quoted verbatim below, and Best Buy is not responsible for any inaccuracies contained in them.

| 98 |     | 2025 Proxy Statement |

TABLE OF CONTENTS _________________________ Item of Business No. 6 — Shareholder Proposal

Shareholder Proposal – Request to Cease CEI Participation Request to Cease CEI Participation Supporting Statement: Best Buy received a perfect score of 100 on the Human Rights Campaign (HRC)’s Corporate Equality Indec (CEI), 1which can only be attained by abiding by its hyper-partisan, divisive and increasingly radical criteria. 2 Though HRC claims the CEI is just a “benchmarking tool on corporate policies… pertinent to LGBTQ employees,” 3in reality, it functions like a social credit score for corporations. The threat of a bad score is wielded by HRC against corporations to force them to