Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 39

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 39
---
 SECTION SHOULD BE READ IN CONJUNCTION WITH THE “AUDIT COMMITTEE REPORT” The Audit Committee is directly responsible for the appointment, compensation, retention and oversight of the independent registered public accounting firm retained to audit the Company’s financial statements. As part of this oversight, the Audit Committee considers the firm’s independence, qualifications, performance, and whether the independent registered public accounting firm should be rotated, as well as the impact of such a rotation. Deloitte & Touche LLP has been retained as our independent registered public accounting firm since 2005. In compliance with Sarbanes-Oxley requirements, the Lead Audit Partner from D&T rotates off our account every five years, with oversight in selection by the Audit Committee. The last Lead Audit Partner rotation occurred in March 2021. The Audit Committee has appointed D&T as our independent registered public accounting firm for the fiscal year ending January 31, 2026. We will ask shareholders to ratify the appointment of D&T as our independent registered public accounting firm at the Meeting. Representatives of D&T are expected to attend the Meeting. They will have the opportunity to make a statement if they desire to do so and are expected to be available to respond to appropriate questions. Principal Accountant Services and Fees The Audit Committee is responsible for the audit fee negotiations associated with the retention of our independent registered public accounting firm. For the fiscal years ended February 1, 2025, and February 3, 2024, D&T served as our independent registered public accounting firm. The following table presents the aggregate fees incurred for services rendered by D&T during fiscal 2025 and fiscal 2024, respectively. The fees listed below were pre-approved by our Audit Committee pursuant to the Audit Committee’s pre-approval policy as described below:

| Service Type          |     | Fiscal 2025 |     | Fiscal 2024 |
| Audit Fees(1)         |     |  $3,773,000 |     |  $3,665,000 |
| Audit-Related Fees(2) |     |   1,436,000 |     |     364,000 |
| Tax Fees(3)           |     |     152,000 |     |           0 |
| Other Fees(4)         |     |           0 |     |      11,000 |
| Total Fees            |     |  $5,361,000 |     |  $4,040,000 |

| (1) | Consists of fees