Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 1

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 1
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 accordance with their prior requests, have received e-mail notification of how to access our proxy materials and vote via the internet or have been mailed paper copies of our proxy materials and proxy card. Internet distribution of our proxy materials is designed to expedite receipt by our shareholders, lower the cost of the Regular Meeting of Shareholders and conserve precious natural resources. If you would prefer to receive paper proxy materials, please follow the instructions included in the Notice of Internet Availability. If you have previously elected to receive our proxy materials electronically, you will continue to receive e-mail notification with instructions to access these materials via the internet unless you elect otherwise. Attending the Regular Meeting of Shareholders We invite you to attend the 2025 Regular Meeting of Shareholders (the “Meeting”) virtually. There will not be a physical meeting. You will be able to attend the Meeting virtually, vote your shares electronically, and submit your questions during the Meeting by visiting: www.virtualshareholdermeeting.com/BBY2025and following the instructions on your proxy card. The Meeting starts at 9:00 a.m. Central Time. You do not need to attend the Meeting online to vote if you submitted your vote via proxy in advance of the Meeting. You can vote via telephone, the internet or by mail by following the instructions on your proxy card or voting instruction form provided by your broker, bank or other nominee. A replay of the Meeting will be available on www.investors.bestbuy.com.

TABLE OF CONTENTS

| A message from     
 David Kenny        
 Chair of the Board |

Dear Shareholders, I am happy to share the progress Best Buy has made during fiscal year 2025. Despite facing a challenging business environment and broad macroeconomic hurdles, Best Buy’s leadership team and employees remained steadfast in their focus on the Company’s strategy. Their disciplined operational execution and commitment led to creating inspiring experiences for our customers. And most notably, Best Buy achieved positive comparable sales in the fourth quarter of the fiscal year, marking the first quarter of positive comparable sales growth since the third quarter of fiscal year 2022. This significant achievement underscores the team’s talent and resilience. Several key factors contributed to the execution and have positioned the Company well for the future. This year, we launched our bold, new branding and made strategic investments in both our digital business and our in-store experiences. By emphasizing personalization and igniting elements of discovery, these investments have elevated customer experiences across all touchpoints. Our My Best Buy membership program had higher engagement across all three tiers and ended the year with