Tapestry — May 8, 2025 release

Shareholder Return Programs Given Tapestry’s strong operational results, robust balance sheet, significant free cash flow generation, and outlook for growth, the Company continues to expect to return more than $2 billion or over 100 percent of its adjusted free cash flow in Fiscal 2025 to shareholders through dividends and share repurchases: • Dividend : The Company’s Board of Directors declared a quarterly cash dividend of $0.35 per common share payable on June 23, 2025 to shareholders of record as of the close of business on June 6, 2025.  In Fiscal 2025, as previously announced, Tapestry expects to maintain its annual dividend rate of $1.40 per common share. • Share Repurchases : As previously announced, in November, the Company executed a $2 billion Accelerated Share Repurchase program (‘ASR’), which remained underway during the fiscal third quarter. In addition to the ASR program, the Company has $800 million remaining under its previous share repurchase authorization. 3 Overview of Fiscal 2025 Third Quarter Financial Results • Net sales totaled $1.58 billion, representing 7% growth versus prior year or 8% growth on a constant currency basis.  FX represented a headwind of approximately 150 basis points in the quarter due to the appreciation of the U.S. Dollar. • Gross profit totaled $1.21 billion, while gross margin was 76.1%, driven by operational improvements of approximately 140 basis points.  This compared to prior year gross profit of $1.11 billion, representing a gross margin of 74.7%. • SG&A