Best Buy Fiscal Year 2022 ESG Report | 84 The Board of Directors of Best Buy is committed to good corporate governance practices and a sound governance structure that: enables the success of our strategy and business objectives, is rooted in a robust ongoing dialogue with our shareholders and is inspired by best practices. Our policies and practices including the following: Board structure • Lead Independent Director (at times when our Chairman is not independent) • Annual Director elections • Robust annual Director evaluation process • Majority vote for Directors • All independent committees • No Director-related party transactions • Director retirement policy Shareholder rights • No cumulative voting rights • No adopted poison pill • Proxy access by-laws • No exclusive forum/venue or free- shifting provisions • No supermajority voting requirements in our Articles Compensation • Pay for performance compensation programs • Annual Say-on-Pay vote • Anti-hedging and anti- pledging policies • Clawback policy for both cash and equity awards • Stock ownership guidelines for Directors and Executives Corporate Governance . The Board seeks a wide range of experience, skill sets and diverse perspectives to support our long-term strategic goals. More can be found in our FY22 Proxy Statement and Corporate Governance Principles at Investors.BestBuy.com . 0-3 years 4-6 years 7+ years Director Tenure Independence 10 of 11 director nominees are independent, including the board chair