Share repurchases may be made from time to time in open market or private transactions in such manner as may be deemed advisable from time to time (including, without limitation, pursuant to one or more 10b5-1 trading plans, accelerated share repurchase programs, and any other method that the company may deem advisable) and may be discontinued at any time. Capital Expenditures Capital expenditures totaled $65 million in the fourth quarter and $223 million for fiscal year 2024. The company expects 2025 capital expenditures to be approximately $300 million. This includes a one-time $40 million cost of relocating to a new Manhattan office, which provides more favorable lease terms. Outlook The company’s outlook reflects near-term headwinds in the consumer and macroeconomic operating environment, balanced with proactive steps the company is taking to strengthen the top-line and reduce expenses. First Quarter 2025 Outlook Fiscal Year 2025 Outlook Revenue Mid-single digit decline Low-single digit decline Gross Margin Down YoY Down YoY SG&A Flat dollars Low-single digit dollar decline D&A - Approximately $230M Operating Income $20 to $25 million $360 to $375 million Tax Rate - Approximately 25% Weighted Average Share Count - Low 190 million* Capital Expenditures - Approximately $300 million *Does not include repurchase activity beyond offsetting internal grants Webcast and Supplemental Financial Information Management will host a conference call and real time webcast today at 4:30pm Eastern Time. To listen to the call, dial 1-877-407-0789 or internationally dial 1-201-689-8562 or go to www.aeo-in

later in the release …

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other guidance in this release

Text is the filed exhibit, verbatim.