Share Repurchases

3 Months Ended

Aug. 30, 2026

Share repurchases were as follows:

In the first quarter of fiscal 2026, we entered into two accelerated share repurchase (ASR) agreements with an unrelated third-party

financial institution to repurchase an aggregate of $500.0 million of our shares of common stock. Under the ASR agreements, we paid

an aggregate of $500.0 million and received an initial delivery of 7.5 million shares of our common stock based on the closing price of

our common stock on July 1, 2025. The value of the initial shares delivered under the ASR agreements represented 80 percent of the

aggregate purchase price, with a fair value of $400.0 million.

The first ASR agreement was settled in the first quarter of fiscal 2026, with a final delivery of 1.2 million additional shares. The final

average purchase price for the first ASR agreement was $50.41 per share, not including costs of execution or excise tax.

In the first quarter of fiscal 2026, we recorded the transactions under the ASR agreements on our Consolidated Balance Sheets as an

increase in treasury stock of $450.0 million and a decrease in additional paid-in capital of $50.0 million. The delivery of 8.7 million

shares of our common stock during the first quarter of fiscal 2026 under the ASR agreements reduced the outstanding shares used to

determine our weighted average shares outstanding for purpose of calculating basic and diluted EPS for the first quarter of fiscal 2026.