AMERICAN EAGLE OUTFITTERS INC

16. Subsequent Events

U.S. Tariff Update

On February 20, 2026, the United States Supreme Court issued a ruling striking down certain tariffs previously imposed under the International Emergency Economic Powers Act ("IEEPA"). The Court of International Trade subsequently issued an interim order requiring U.S. Customs and Border Protection ("CBP") to process unliquidated entries without the unlawful tariffs and to develop a plan that could result in refunds of duties previously collected. CBP has indicated it is developing a plan within 45 days to implement that order, however the scope, timing, and ultimate availability of any refunds remains uncertain. While the Company has taken steps to preserve its rights should a refund process be established, no assurance can be given that refunds will be realized. Also following the Supreme Court’s decision, the U.S. presidential administration announced its intention to invoke other laws to collect tariffs and announced new temporary tariffs on imports from all countries, in addition to any existing non-IEEPA tariffs. Those tariffs have now been challenged by over a dozen states. Substantial uncertainty remains regarding the duration of existing and newly announced tariffs, potential changes or pauses to these tariffs, tariff levels, and whether further additional tariffs or other retaliatory actions may be imposed, modified, or suspended. We are also uncertain about the impacts of such actions on the Company's business. We continue to monitor and evaluate these developments and assess their potential impact on our business, financial condition, and results of operations.