Tapestry — Feb 6, 2025 release

The increased outlook incorporates the Company’s second quarter operational outperformance of $0.17, a full year net benefit from share repurchase activity of $0.10, and a net benefit of $0.08 from a favorable tax rate partially offset by an expected currency headwind; • Adjusted free cash flow  of approximately $1.2 billion as compared to the prior outlook of $1.1 billion. Please note this outlook assumes the following: • No revenue, net interest, or earnings impact related to the terminated acquisition of Capri Holdings Limited; • No further appreciation of the U.S. Dollar; information provided based on spot rates at the time of forecast; • No material worsening of inflationary pressures or consumer confidence; • No benefit from the potential reinstatement of the Generalized System of Preferences (“GSP”); and • No impact related to any future policy changes resulting from the U.S. Presidential Administration change. The Company’s outlook embeds the expectation for an additional 10% tariff on goods imported from China into the U.S. beginning February 4, 2025, which is expected to have an immaterial impact on Fiscal 2025 results. Given the dynamic nature of these and other external factors, financial results could differ materially from the outlook provided. 8 Financial Outlook - Non-GAAP Adjustments : The Company is not able to provide a full reconciliat