Tapestry — Aug 13, 2026 release

Given Tapestry's strong financial position, significant free cash flow generation, and outlook for continued growth, the Company expects to return approximately $1.7 billion to shareholders in Fiscal 2027 through its capital return programs: • Dividend : The Board of Directors approved a 16% increase to the Company’s dividend, with a quarterly cash dividend of $0.4625 per common share payable on September 21, 2026 to shareholders of record as of close of business on September 4, 2026 for an anticipated annual dividend rate of $1.85 per share. • Share Repurchases : Tapestry expects to buy back $1.35 billion in common stock in the fiscal year under its existing share repurchase authorization. Non-GAAP Reconciliation During the fiscal fourth quarter of 2026, Tapestry recorded certain items that increased operating income by $80 million, net income by $74 million, and diluted earnings per share by $0.36.  For the full year, Tapestry recorded certain items that increased operating income by $49 million, net income by $46 million, and diluted earnings per share by $0.22. These items included International Emergency Economic Powers Act (“IEEPA”) tariff refunds, distribution network optimization initiatives, Organization Efficiency costs, and the divestiture of Stuart Weitzman. Please refer to the Financial Schedules included herein for a full reconciliation of the Company’s reported GAAP to non-GAAP results. 5 Overview of Fiscal 2026 Fourth Quarter Financial Results • Net sales to