Gap — Aug 27, 2026 release

◦ In addition to the ASR, repurchased 9.3 million shares in the open market for $200 million during the second quarter. ◦ The Company has $399 million remaining under its existing share repurchase authorization. • Dividends : ◦ Paid $62 million in dividends during the second quarter of fiscal 2026, reflecting a quarterly dividend of $0.175 per share, up 6% from the prior year. ◦ The Company’s Board of Directors approved a third quarter fiscal 2026 dividend of $0.175 per share. • Year-to-date , the Company has returned $726 million to shareholders inclusive of $125 million in the form of dividends and $601 million of share repurchases. Additional information regarding adjusted gross margin, adjusted operating income, adjusted operating margin, adjusted effective tax rate, adjusted net income, adjusted diluted earnings per share, and free cash flow, which are non-GAAP financial measures, is provided at the end of this press release along with reconciliations of these measures from the most directly comparable GAAP financial measures for the applicable period. Second Quarter Fiscal 2026 – Global Brand Results Comparable Sales: Q2 2026 Q2 2025 Old Navy (4) % 2  % Gap 10  % 4  % Banana Republic 3  % 4  % Athleta (12) % (9) % Gap Inc. (1) % 1  % Old Navy: • Second quarter net sales of $2.1 billion were down 4% compared to last year. Comparable sales were down 4% reflecting expected pressure in the women's seasonal assortment, in addition to an unanticipated slowdown in traffic. Gap: • Second quarter net sales of $844 million were u