Gap — Aug 28, 2025 release

• Capital expenditures were $181 million. • Returned $144 million of cash to shareholders in the form of dividends and share repurchases during the second quarter of fiscal 2025 inclusive of: • A second quarter dividend of $0.165 per share, totaling $62 million; and • 3 million shares repurchased for $82 million, ending the second quarter of fiscal 2025 with 371 million shares outstanding. • The Company’s Board of Directors approved a third quarter fiscal 2025 dividend of $0.165 per share. Additional information regarding free cash flow, which is a non-GAAP financial measure, is provided at the end of this press release along with a reconciliation of this measure from the most directly comparable GAAP financial measure for the applicable period. Second Quarter Fiscal 2025 – Global Brand Results Comparable Sales: Q2 2025 Q2 2024 Old Navy 2  % 5  % Gap 4  % 3  % Banana Republic 4  % —  % Athleta (9) % (4) % Gap Inc. 1  % 3  % Old Navy: • Second quarter net sales of $2.2 billion were up 1% compared to last year. Comparable sales were up 2%. Old Navy continues to demonstrate consistency in execution with reinvigoration efforts continuing to progress. Gap: • Second quarter net sales of $772 million were up 1% compared to last year. Comparable sales were up 4% achieving positive comparable sales for the 7th consecutive quarter. Gap continues to demonstrate the power of the reinvigoration playbook in action with the relent