Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 100

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 100
---
 team members can feel valued and included, has been and remains key to the Company’s long-term success. Consistent with the role our culture plays in our Company, management dedicates substantial resources and efforts toward understanding the needs of our diverse global workforce and inclusive culture as part of its day-to-day operations. These efforts include regularly monitoring retention rates, which remain industry-leading, and employee feedback and survey results, which currently show inclusion action and non-discrimination as top strengths of the Company. In addition, management engages in an ongoing assessment of legal, reputational and other risks related to these efforts. In addition, the Board plays an active role in overseeing management’s efforts to ensure its culture is consistent with employee, customer and shareholder interests, including reviewing internal and external risks that management believes could disrupt this culture and/or threaten the Company’s ability to serve its employees and customers. In particular, the Compensation & Human Resources Committee of the Board is 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 CONSIDER ENDING THE COMPANY’S PARTICIPATION IN THE HUMAN RIGHTS CAMPAIGN’S CORPORATE EQUALITY INDEX.

| 100 |     | 2025 Proxy Statement |

TABLE OF CONTENTS Item of Business No. 7 — Shareholder Proposal – Publish a Report on the Company’s LGBTQIA+ Inclusion Efforts in its Human Capital Management Strategy 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 Comptroller of the State of New York on behalf of the New York State Common Retirement Fund, 110 State Street, 14 thFloor, Albany, NY 12236 (the beneficial owner of no less than 50 shares of Best Buy Common Stock) and Segal Marco Advisors on behalf of the AFL-CIO Equity Index Funds, 550 W. Washington Blvd., Suite 900, Chicago, 60661 (the beneficial owner of no less than 50 shares of Best Buy Common Stock). The proponents have requested we include the proposal and supporting statement