Believes Starbucks’ misguided response to labor issues has exposed the Company to unnecessary reputational harm and requires boardroom change to protect mission-critical employee relations and shareholder value

SOC’s highly qualified nominees would bring urgently needed human capital management and public policy experience to the Starbucks Board

The Strategic Organizing Center (the “SOC”), a shareholder of Starbucks Corporation (Nasdaq: SBUX) (“Starbucks” or the “Company”), today announced the launch of its website www.BrewABetterStarbucks.com and that it has filed a preliminary proxy statement with the U.S. Securities and Exchange Commission (“SEC”) in connection with Starbucks’ 2024 Annual Meeting of Shareholders (the “Annual Meeting”). The SOC has nominated three director candidates – Maria Echaveste, Hon. Joshua Gotbaum and Wilma Liebman – for election to the Starbucks Board of Directors (the “Board”) at the upcoming Annual Meeting.

Starbucks shareholders, employees, customers and other stakeholders are encouraged to visit www.BrewABetterStarbucks.com to share their views, sign up for important updates and learn about the SOC’s efforts to enhance the Company’s human capital management practices, facilitate constructive outcomes of ongoing labor disputes and oversee engagement with policymakers and regulators.

A copy of the preliminary proxy statement is available at https://bit.ly/3RYEDiw and www.BrewABetterStarbucks.com.

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Starbucks is a company in crisis. It is time to #BrewABetterStarbucks.

Visit www.BrewABetterStarbucks.com to learn more.

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DISCLAIMER

This material does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in any state to any person. In addition, the discussions and opinions in this press release and the material contained herein are for general information only, and are not intended to provide investment advice. All statements contained in this press release that are not clearly historical in nature or that necessarily depend on future events are “forward-looking statements,” which are not guarantees of future performance or results, and the words “will,” “anticipate,” “believe,” “expect,” “potential,” “could,” “opportunity,” “estimate,” and similar expressions are generally intended to identify forward-looking statements. Any projected results and/or statements contained in this press release that are not historical facts are based on current expectations, speak only as of the date of this press release and involve risks that may cause the actual results to be materially different. Certain information included in this press release is based on data obtained from sources considered to be reliable. No representation is made with respect to the accuracy or completeness of such data, and any analyses provided to assist the recipient of this press release in evaluating the matters described herein may be based on subjective assessments and assumptions and may use one among alternative methodologies that produce different results. Accordingly, any analyses should also not be viewed as factual and also should not be relied upon as an accurate prediction of future results. Any figures are unaudited estimates and subject to revision without notice. The SOC disclaims any obligation to update the information herein and reserve the right to change any of their opinions expressed herein at any time as they deem appropriate. Past performance is not indicative of future results.

IMPORTANT INFORMATION

The SOC, the SEIU, Mary Kay Henry, Ahmer Qadeer, Michael Zucker, Maria Echaveste, Joshua Gotbaum, and Wilma B. Liebman (collectively, the “Participants”) intend to file a definitive proxy statement and accompanying proxy card (the “Proxy Statement”) with the SEC to be used to solicit proxies in connection with the 2024 annual meeting of shareholders (the “Annual Meeting”) of Starbucks Corporation (the “Company”). All shareholders of the Company are advised to read the Proxy Statement and other documents related to the solicitation of proxies, each in connection with the Annual Meeting, by the Participants when they become available, as they will contain important information, including additional information related to the Participants. The Proxy Statement and an accompanying BLUE proxy card will be furnished to some or all of the Company’s stockholders and will be, along with other relevant documents, available at no charge on the SEC website at http://www.sec.gov.

Information about the Participants and a description of their direct or indirect interests by security holdings or otherwise is contained in the preliminary proxy statement filed by the Participants with the SEC on January 12, 2024. This document is available free of charge from the source described above and at www.BrewABetterStarbucks.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240111802289/en/