Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 103

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 103
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 tasked with overseeing the development of our culture and the committee receives regular updates from management related to these initiatives. As part of this process, the Board already considers the issues raised by the Proposal. For these reasons, the Board does not believe the Proposal would provide any meaningful benefit to shareholders. 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 TO PUBLISH A REPORT ON THE COMPANY’S LGBTQIA+ INCLUSION EFFORTS IN ITS HUMAN CAPITAL MANAGEMENT STRATEGY.

| 2025 Proxy Statement |     | 103 |

TABLE OF CONTENTS Item of Business No. 8 — Shareholder Proposal – Publish Climate Transition Plan to Achieve Stated Goals 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 Globalance Bank Ltd., Gartenstrasse 16, CH-8002 Zürich, as representative for Mr. Norbert Bärlocher (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.

| 104 |     | 2025 Proxy Statement |

TABLE OF CONTENTS _________________________ Item of Business No. 8 — Shareholder Proposal

Shareholder Proposal – Publish Climate Transition Plan to Achieve Stated Goals WHEREAS : The Intergovernmental Panel on Climate Change has advised that greenhouse gas (GHG) emissions must be halved by 2030 and reach net zero by 2050 in order to limit global warming to 1.5°C and avoid increasingly severe physical, transition, and systemic risks for companies and investors. Best Buy Co., Inc. (“Best Buy”) has set third-party verified science-based GHG targets, recognizing the business imperative of reducing emissions and preparing for the low-carbon transition. Indeed, in its 2024 10-K, Best Buy acknowledges that “Natural disasters and climate-related events in [ ] areas where our sales and operations are concentrated could result in significant physical damage to or closure of our stores, distribution centers or other facilities.” However, investors