Kontoor Brands, Inc.

$400 Million Accelerated Share Repurchase Program

Kontoor Brands, Inc. today announced it expects to enter into Accelerated Share Repurchase (“ASR”) agreements in early November 2026 with financial institutions (the “Dealers”) to repurchase $400 million of Kontoor common stock. The ASR will be completed under the Company’s existing $750 million share repurchase authorization. Under these agreements, Kontoor Brands will make a total payment of $400 million to the Dealers and expects to receive initial delivery of approximately 80 percent of the expected shares to be repurchased under the ASR agreements.

The final number of Kontoor’s common shares to be repurchased will be based on the volume-weighted average price of Kontoor’s common shares during the term of the ASR agreements, less a discount and subject to customary adjustments. The final settlement of the transactions under the ASR agreements is expected to occur in the first half of 2027.

Kontoor Brands is funding the share repurchases under the ASR agreements with a portion of the $698 million of net proceeds received from the sale of the Lee business. Upon completion of the planned share repurchases in the fourth quarter, the Company expects to have approximately $230 million remaining under its existing share repurchase authorization.