Leading Proxy Advisor ISS Recommends Shareholders Vote FOR ONLY the Starbucks Director Nominees

Starbucks Corporation (Nasdaq: SBUX) today announced that leading proxy advisory firm Institutional Shareholder Services ("ISS") has recommended that Starbucks shareholders vote on the WHITE proxy card ONLY “FOR” the Starbucks 11 director nominees in connection with the Company's Annual Meeting of Shareholders, which will take place virtually on March 13, 2024, at 10 a.m. PT.

Starbucks partners (employees) have always been the heart of its business and core to its success. The company is committed to building a bridge to a better future for all partners. This critical priority is led by the executive leadership team and overseen by the Board of Directors’ Environmental, Partner and Community Impact Committee. Throughout its history, the company has offered its partners industry-leading compensation and benefits, and over the past three years has invested nearly $9 billion to augment the partner experience.

Starbucks is pleased that ISS recognizes the strength of the Starbucks Board and supports the election of all its directors.

In a report sent to clients on February 29, 2024, ISS stated:

• “SBUX has a history of demonstrating responsiveness to shareholders, and has continued to do so despite recent headwinds. All-in, there is no reason to believe that the board is unwilling or unable to approach matters, including unionization, so as to support the best interests of shareholders.”

• “The Board has undergone significant refreshment since the CEO transition, as five of the 10 independent directors on ballot were first seated after [Laxman] Narasimhan took the helm on a permanent basis. These directors appear to be thoughtful and logical additions (rather than defensive ones) and are positioned to assist the new CEO with the most important elements of the reinvention plan.”

Starbucks reminds shareholders that every vote is important and encourages shareholders to review the Starbucks proxy solicitation materials carefully and use the WHITE proxy card to vote today ONLY “FOR” each of the 11 Starbucks nominees. The company urges shareholders to disregard any materials sent to you by SOC, including any blue proxy card, and NOT to vote using any blue proxy card.