Tapestry — May 7, 2026 release

Shareholder Return Programs Given Tapestry’s strong operational results, robust balance sheet, significant free cash flow generation, and outlook for growth, the Company now expects to return $1.6 billion, which is approximately 100 percent of its anticipated adjusted free cash flow, to shareholders through dividends and share repurchases in Fiscal 2026.  This represents an increase from its previous outlook of $1.5 billion.   Programs include: 4 • Dividend: The Company’s Board of Directors declared a quarterly cash dividend of $0.40 per common share payable on June 22, 2026 to shareholders of record as of the close of business on June 5, 2026.  This results in an annual dividend of $1.60 per share in Fiscal 2026, as anticipated. • Share Repurchases: Tapestry now expects to buy back approximately $1.3 billion in common stock in Fiscal 2026 under the Company’s existing stock repurchase authorization, an increase from its prior outlook of $1.2 billion. During the fiscal third quarter, the Company spent $150 million to repurchase approximately 1.05 million shares of its common stock at an average cost of approximately $143 per share.  On a year-to-date basis through the fiscal third quarter, the Company spent a total of $1.05 billion to repurchase approximately 9.3 million shares at an average share price of approximately $112. Non-GAAP Reconciliation During the fiscal third quarter of 2026, Tapestry recorded certain items that decreased the Company’s operating income by $3 million, net income by $2 million, and earnings per diluted share by $0.01. Please note that the divestiture of Stuart Weitzman was completed on August 4, 2025.  The brand’s results for the period under ownership in Fiscal 2026 are included in fiscal 2026 first quarter GAAP and year-to-date results and excluded from year-to-date non-GAAP results. Please refer to the Financial Schedules included herein for a full reconciliation of the Company’s reported GAAP to non-GAAP results.