Starbucks : Q2 Fiscal 2024 Earnings at a Glance

STARBUCKS Q2 FY24 - EARNINGS AT A GLANCE

While it was a difficult quarter, we learned from our own underperformance and sharpened our focus with a comprehensive

roadmap of well thought out actions making the path forward clear. On this path, we remain committed to our disciplined approach to capital allocation as we navigate this complex and dynamic environment.

- Rachel Ruggeri, cfo

STRATEGIC PRIORITIES

1	2	3	4	5
Elevate	Strengthen	Become	Unlock	Reinvigorate
the	and	Truly	Efficiency	Partner
Brand	Scale Digital	Global		Culture

	GLOBAL NET REVENUE1	COMP
North America			International		Channel Development

5%

21%

$8.6B

-4%

-3%

-6%

-1% YoY

-3% U.S

-11% China

74%

NON-GAAP GLOBAL OPERATING MARGIN1	NON-GAAP EPS1	GLOBAL STORE COUNT
12.8%	$0.68	38,951
-140bps YoY	-7% YoY	+6% YoY

INNOVATION

Lavender Platform

One of the Most

Successful

Product Launches

U.S. DIGITAL

32.8M	Record Mobile Order and Pay
31%
90-DAY Active	of Transactions
SR Members

1 Refer to the Reconciliation of Selected GAAP Measures to Non-GAAP Measures on the Q2 Earnings Release on the IR website at http://investor.starbucks.com

S T A R B U C K S I N V E S T O R R E L A T I O N S

To be a trusted advisor, and provide meaningful insight to enable informed decision making, to key stakeholders in support of long-term value creation.

STARBUCKS FY24 GUIDANCE

COMP GROWTH 1	GLOBAL REVENUE 1	Low single digits
Global	Low single digit decline to flat
OPERATING MARGIN 1	~Flat
U.S.	Low single digit decline to flat
CAPITAL EXPENDITURES	~$3B
China	Single digit decline
				GAAP & Non-GAAP TAX RATE 2 Mid-20s;higher than FY23
NEW STORE GROWTH
FULL YEAR EPS 1, 3	GAAP: Flat to low single digits
Global 1	~6%
			Non-GAAP: Flat to low single digits
U.S.	~4%
China 1	~12%

1. Revised guidance.
2. Certain financial measures included in this page are not measures of financial performance under U.S. generally accepted accounting principles ("GAAP"). Certain non-GAAP measures such as tax rates were not reconciled to the comparable GAAP financial measures because the GAAP measures are not accessible on a forward-looking basis. All forward-lookingnon-GAAP measures may exclude estimates for acquisitions, divestitures, restructuring, and other items, which are fluid and unpredictable in nature. The company is unable to reconcile these forward-lookingnon-GAAP financial measures to the most directly comparable GAAP measures with sufficient precision without unreasonable efforts because the company is currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact GAAP measures for these periods but would not impact the non-GAAP measures. The unavailable information could have a significant impact on the company's GAAP financial results.
3. For a complete reconciliation of our historical GAAP to non-GAAP measures, please see the reconciliation documents located on the Supplemental Financial Data page of our IR website at http://investor.starbucks.com.

This page includes forward-looking statements, which are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. Any such statements should be considered in conjunction with cautionary statements in our risk factor discussions in our filings with the SEC, including our most recently filed periodic reports on Form 10-Q and subsequent filings. Starbucks assumes no obligation to update any of these forward-looking statements or information, which are made as of their respective dates.

S T A R B U C K S I N V E S T O R R E L A T I O N S

To be a trusted advisor, and provide meaningful insight to enable informed decision making, to key stakeholders in support of long-term value creation.