Note K – Stock Repurchase Program

During 1998, the Company announced a program permitting the Company to repurchase a portion of its outstanding shares not to exceed a dollar maximum established by the Company’s Board of Directors. The Board voted to increase the repurchase authorization by $1.5 billion on June 16, 2026, bringing the total authorization to $42.2 billion. Considering cumulative repurchases as of August 29, 2026, the Company had $1.6 billion remaining under the Board’s authorization to repurchase its common stock.

The Company’s share repurchase activity consisted of the following:

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During fiscal year 2026, the Company retired 0.4 million shares of treasury stock which had previously been repurchased under the Company’s share repurchase program. The retirement increased Retained deficit by $1.4 billion and decreased Additional paid-in capital by $45.1 million. During the comparable prior year period, the Company retired 0.7 million shares of treasury stock, which increased Retained deficit by $2.0 billion and decreased Additional paid-in capital by $69.9 million.

Subsequent to August 29, 2026, and through October 19, 2026, the Company has repurchased 106,862 shares of common stock at an aggregate cost of $310.6 million. Considering the cumulative repurchases through October 19, 2026, the Company has $1.3 billion remaining under the Board’s authorization to repurchase its common stock.