STARBUCKS CORP

In determining our compensation practices for fiscal year 2025, the Compensation Committee was mindful of the feedback provided by shareholders and the results of our most recent advisory vote on executive compensation. We continued to refine our Annual Incentive Bonus Plan to simplify the overall design while providing deeper accountability, driving performance, and reinforcing our priorities of belonging, joy, and sustainability. To that end, the Annual Incentive Bonus Plan for fiscal year 2025 will continue to provide that 75% of each participant’s target incentive opportunity will be earned based on adjusted net revenue and adjusted operating income financial metrics and 25% of each participant’s target incentive opportunity will be tied to individual performance against shared goals. The Compensation Committee will assess individual performance using a scorecard of quantifiable business, functional, and cultural key performance indicators, including goals aligned with our “Back to Starbucks” strategy and goals intended to create a culture of belonging, joy, and sustainability, which are critical to driving collaboration, performance, and productivity and building long-term value.

In addition, with respect to our fiscal year 2025 PRSU program, a new three-year average global, company operated, comparable store sales metric was added with a 50% weighting, and the three-year average adjusted EPS metric was reduced to a 50% weighting. In addition, the relative total shareholder return modifier was revised to provide for a payout range (rather than linear interpolation between relative total shareholder return percentiles), and the talent and sustainability modifiers were removed. These changes were made to simplify and provide clarity regarding our long-term objectives, incentivize long-term sales growth, and more closely align with the long-term priorities of our “Back to Starbucks” strategy. The Compensation Committee believes these changes will drive sustained focus from our executive leadership team on the metrics that we believe will build long-term value for our shareholders.

The chart below illustrates the components of the Annual Incentive Bonus Plan for fiscal year 2025.

The chart below summarizes the updated components of the Leadership Stock Plan for fiscal year 2025, which reflects the new three-year average global, company operated, comparable store sales metric (“comp”), the revised relative total shareholder return modifier, and the removal of the talent and sustainability modifiers.