Starbucks Investor Day Presentation Deck

** STARBUCKS STAR **** RY CARRY THE MERRY CARRY KYNNY VV *XXXX** BA CVBBA AHE WEBBA CYER RESTORING ROIC¹ TO 25%+ Led by margin expansion and capital efficiency ~25% FY14 - FY17 ~20% FY18 - FY19 ROIC with Current Ownership Model ROIC with Incremental Market Licensing Approaching 30% >25% FY24 ¹ Calculated as Net Operating Profit After Tax (NOPAT) / Invested Capital. NOPAT = (Non-GAAP Operating Income + Interest Expense on Lease Liability) * (1-Tax Rate). Invested Capital = Operating Lease Liability + Shareholder's Equity + Debt + Other Long-Term Liabilities - Cash and Cash Equivalents - Short-Term Investments. Balance Sheet items are calculated using annual averages.

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