Starbucks : Additional Investor Questions

ANNUAL MEETING OF SHAREHOLDERS - ADDITIONAL INVESTOR QUESTIONS

Succession Planning

• Why didn't the Board begin the CEO search sooner given Kevin Johnson's stated retirement timeline?
  o In the spring of 2021, Kevin signaled to the Board that, as the pandemic came to an end, he was thinking about the possibility of retirement. At the time, Kevin did not provide a certain or a definitive date for his retirement.
  o In the first half of 2021, the Board engaged Russell Reynolds to assist with identifying a ceo successor.
  o Throughout 2021, the search committee was active in considering and evaluating potential ceo candidates, interviewing both internal and external candidates in 2021 during the COVID-19 pandemic and ahead of Kevin's notification to the Board of his intention to retire.
  o The search process was complicated by the COVID-19 pandemic, with the pandemic impacting both the ability and willingness of ceo candidates to travel. The pandemic also impacted how potential ceo candidates were evaluating new opportunities and relocation for new opportunities.
  o During this process, the Board identified Laxman as a potential candidate who had the right mix of skills and experience to be a successful ceo at Starbucks.
  oAt that time, Howard was asked to lend his expertise as the company's founder and as the steward of the company's culture to the ceo search to allow the Board to secure the right ceo.
  o In 2022, Howard returned to the Company. During that time, the Board also disclosed that it expected to have a new ceo by the fall.
  o In the Fall 2023, the Company announced Laxman as the incoming ceo and Howard also agreed
  to help onboard him with a comprehensive immersion, with the company announcing that Howard would stay on through the first quarter of 2023 as interim ceo.
  o In the first quarter of 2023, Laxman formally became the ceo of Starbucks.
• Why weren't internal candidates considered during the recent search for ceo?

1. An internal candidate had previously been identified; however, they left Starbucks for an external opportunity before this search process began.

Diversity

• Should "viewpoint diversity" be included in Starbucks diversity approach and reporting? o We respect all our partners and customers and believe they are entitled to hold diverse
  viewpoints. We believe intentional Inclusion and Diversity makes us a stronger company, better equipped to serve our partners, customers, and communities. We foster a culture that respects diverse opinions, free speech, religious freedom, and respectful discourse. We do not tolerate hate, bigotry, or discrimination of any kind.

Board

• Will Howard Schultz remain on the Board of Directors? Is there a concern that one or more director nominees in any given year might be targeted by narrowly-focused voting?
  o Board refreshment is critical at this time, as we have a new chief executive officer, are continuing to implement our Reinvention Plan, and have emerged from the COVID-19 pandemic. The Nominating and Corporate Governance Committee is currently engaged in an ongoing recruitment process and is committed to increasing the gender diversity of the Board over the next few years. Howard is expected to stay on the Board and as our founder provides deep experience and valuable perspective to the management team. All director nominees are subject to approval by our shareholders, and all of our directors received over 84% of the shareholder vote.

Plant-Based Milk

• Has the company explored additional plant-based milk alternatives?

1. Starbucks continues to evaluate new plant-based milk products based on internal supply and pricing requirements.