Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 107

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 107
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, 2026, at our principal executive office, addressed as follows: Mr. Todd G. Hartman Executive Vice President, Chief Legal and Risk Officer and Secretary Best Buy Co., Inc. 7601 Penn Avenue South Richfield, Minnesota 55423 Our By-laws establish advance notice procedures with respect to shareholder proposals and the nomination of candidates for election as directors and the proposal of any business not intended to be included in the Company’s proxy statement, other than nominations made by or at the direction of the Board of Directors or a committee of the Board of Directors. In order for any matter to be “properly brought” before a meeting, a shareholder must comply with advance notice requirements and provide us with certain information. Generally, to be timely, a shareholder’s notice must be received at our principal executive offices not less than 120 days nor more than 150 days prior to the anniversary of the immediately preceding annual meeting of shareholders. Accordingly, such proposals will be considered untimely if received before January 14, 2026, or after February 13, 2026. Any such shareholder proposal must also comply with the procedural requirements of our By-laws. The advance notice requirement in our By-laws supersedes the notice period in Rule 14a-4(c)(1) of the Securities Exchange Act of 1934 regarding discretionary proxy voting authority with respect to shareholder business. In addition to satisfying the foregoing requirements under our By-laws, to comply with the universal proxy rules, shareholders who intend to solicit proxies in support of director nominees other than the Company’s nominees must provide notice that sets forth the information required by Rule 14a-19 under the Exchange Act no later than April 14, 2026.

| By Order of the Board of Directors |
| Todd G. Hartman                    |
| Secretary                          |

May 1, 2025

| 108 |     | 2025 Proxy Statement |

TABLE OF CONTENTS

Reconciliations of Non-GAAP Financial Measures Reconciliations of consolidated operating income and diluted earnings per share (“EPS”) (GAAP financial measures) to consolidated adjusted operating income and adjusted diluted EPS (non-GAAP financial measures), respectively, were as follows ($ in millions, except per share amounts):

|                                              |     | Fiscal Year 2025 |
| Operating income                             |     |           $1,262 |
| %of revenue                                  |     |             3.0% |
| Restructuring charges(1)                     |     |