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Mr. Andre Maestrini to serve as interim co-Chief Executive Officers, effective January 31, 2026. On November 21, 2025, we announced that our board of directors has appointed Andre Maestrini as lululemon's president and chief commercial officer, effective immediately. Andre Maestrini has served as executive vice president, international since January 2021, overseeing our international expansion across APAC, EMEA and China Mainland. He is responsible for leading our global offices and driving brand growth across multiple international markets and channels. Before joining lululemon, Mr. Maestrini spent 14 years at adidas in various senior roles, including global general manager of sport business units and managing director of Latin America. Earlier in his career, he held marketing positions at The Coca-Cola Company, Danone, and Kraft Jacobs Suchard. Mr. Maestrini holds a master's degree in Marketing from ESSEC Business School in Paris, France.

Ms. Meghan C. Frank is the Co-Chief Executive Officer, Chief Financial Officer and Principal Accounting Officer.

Ted Dagnese joined lululemon in 2016 and leads all aspects of supply chain management, including our global vendor base, product quality, raw material development, and distribution and logistics. Prior to joining lululemon, Mr. Dagnese served as Vice President, Supply Chain at VF Corporation and Senior Director at Gap, Inc. Mr. Dagnese earned his M.S. in engineering economics from Stanford University, an M.S. in electrical engineering from Northeastern University, and a B.S. and B.A. in electrical engineering and humanities from Purdue University. Mr. Dagnese also sits on the board of the American Apparel & Footwear Association.

In connection with these changes, the board of directors appointed Marti Morfitt, currently serving as chair of the board of directors, to serve as executive chair, effective immediately. Marti Morfitt has been a member of our board of directors since December 2008 and served as board chair since March 2022. She is a principal of River Rock Partners, Inc., a business and cultural transformation consulting firm, a role she has held since 2008. From 2009 to 2012, Ms. Morfitt served as chief executive officer of Airborne, Inc., and from 2001 to 2007, she was president and chief executive officer of CNS, Inc. after serving as chief operating officer from 1998 to 2001. Since 1995, Ms Morfitt has garnered extensive public company board experience with a range of companies. She currently serves on the boards of directors of Graco, Inc. and Olaplex Holdings, Inc and previously served on the boards of directors of Mercer International Inc. and Life Time Fitness, Inc. Ms. Morfitt holds an H.B.A. from the Richard Ivey School of Business at the University of Western Ontario and an M.B.A. from the Schulich School of Business at York University.

Ms List, Qualifications, Experience and Expertise Contributed to Our Board: Ms. List brings extensive financial leadership experience from serving as CFO and senior finance executive at several Fortune 500 companies, including The Gap, Inc., DICK'S Sporting Goods, Inc., Kraft Foods Group, Inc., and The Procter & Gamble Company. She provides first-hand expertise in overseeing the financial performance of global consumer businesses, navigating organizations through market cycles, and instilling financial rigor and accountability across teams. Ms. List has significant experience managing complex finance and accounting matters at large retail organizations, particularly during her tenure at The Gap, Inc., where she advanced portfolio growth and operational efficiency initiatives, including rationalizing the store footprint, strengthening cost discipline to fund investments, and enhancing IT capabilities in commerce, analytics, and inventory management. She also served as a key strategic advisor to the CEO on a broad range of operating matters. In addition, Ms. List brings deep corporate governance expertise and valuable perspective on consumer and technology trends, as well as broad economic and global issues, through her current board service with Visa Inc., Microsoft Corporation, and Danaher Corporation. Other Key Skills and Qualifications: More than three decades of experience in corporate finance and technology at complex global public companies; deep knowledge of consumer businesses and functional expertise in accounting, auditing, mergers and acquisitions, treasury, investor relations, and tax; nearly 15 years of governance experience as a public company board director across multiple industries; and familiarity with accounting standards, oversight, and regulatory processes through prior service as a Financial Accounting Foundation Trustee and participation in a FASB Fellowship while employed with Deloitte. Employment Experience: 2017 to 2020: EVP & Chief Financial Officer, The Gap, Inc.; 2015 to 2016: EVP & Chief Financial Officer, DICK'S Sporting Goods, Inc.; 2013 to 2015: EVP & Chief Financial Officer, Kraft Foods Group, Inc.; 2012 to 2014: Trustee, Financial Accounting Foundation, a not-for-profit organization responsible for the oversight, administration, financing, and appointment of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB); 1994 to 2013: Senior Vice President & Treasurer and various roles, The Procter & Gamble Company; 1985 to 1994: Senior Manager, Deloitte. Other Public Company Directorships: 2022 to Present: Visa Inc.; 2014 to Present: Microsoft Corporation; 2011 to Present: Danaher Corporation, a global life sciences and diagnostics company; 2020 to 2024: DoubleVerify Holdings, Inc., an AI-driven media effectiveness software company; 2021 to 2022: Oscar Health, Inc., a health insurance company.

Ms HenryQualifications, Experience and Expertise Contributed to Our Board: Ms. Henry has more than 25 years of experience leading enterprise technology, digital transformation, and systems integration strategies across global retail organizations, including serving as Gap's Vice President and Chief Information Officer for International IT and Gap North America, and as Vice President of the Dockers business at Levi Strauss & Co. following her role as Vice President of Global IT Strategy & Development. She contributes an entrepreneurial mindset through co-founding LightBrite, a technology-enabled consumer wellness company, and through investments in women-led businesses via the venture capital firm How Women Invest. Ms. Henry also provides deep institutional knowledge of lululemon through prior service as Chief Information Officer, Logistics & Distribution, where oversight of enterprise systems supported revenue growth of more than 300% and generated $16 million in annual savings. Her experience supports the board's risk oversight of global innovation, supply chain, and technology strategies, as well as the work of the audit and people, culture and compensation committees. Other Key Skills and Qualifications: Combines deep expertise in information technology and retail with an inside-out understanding of the lululemon business, organization, and community, along with public company governance, enterprise risk oversight experience, and institutional knowledge gained through public company board service. Employment Experience: 2022 to 2023: Chief Executive Officer & Co-Founder, LightBrite; 2015 to 2022: Strategic consultant to retail and technology companies, VC and investment firms, and consulting firms; 2010 to 2014: Chief Information Officer, SVP Logistics & Distribution, lululemon; 2005 to 2007: VP & Chief Information Officer for International IT and Gap North America, Gap, Inc.; 2004 to 2005: VP of Dockers Business Divestiture (with direct responsibility for Dockers' divestiture), Levi Strauss & Co.; 2004: VP of IIE Enterprise Program Office, Charles Schwab Corporation; 1999 to 2003: VP of Global IT Strategy & Development, Levi Strauss & Co. Other Public Company Directorships: 2024 to 2025: Prenetics Global Limited, a leading health sciences company.

Mr McNeill, Qualifications, Experience and Expertise Contributed to Our Board: Mr. McNeill brings a proven track record of driving large-scale growth through industry-leading innovation and operational expertise as both a successful entrepreneur and an executive at major consumer-facing technology companies. His experience is particularly valuable for lululemon, whose foundation is built on innovation and which has significant opportunity for global growth. As Chief Operating Officer of Lyft, he played a pivotal role in doubling revenues and helping take the company public, and as President of Tesla, he grew revenue from approximately $2 billion to $20 billion in 30 months while scaling the team to more than 10,000 employees across 32 countries. Mr. McNeill further strengthens the board's brand-building perspective as a proven entrepreneur who has founded, operated, and scaled multiple businesses, including TruMotion, Sterling, and Trek Bicycle Stores, which collectively delivered multi-billion dollar returns for investors. He continues to build growth-oriented businesses as Co-Founder and Chief Executive Officer of DVx Ventures, a venture capital firm that has created 12 companies, including the top-performing public AI infrastructure fund. He also contributes a differentiated perspective on fostering a performance-driven culture, making him a valuable member of the people, culture and compensation committee, which oversees executive compensation, talent strategy, and organizational performance. Other Key Skills and Qualifications: Public company corporate governance experience through service on the General Motors board, including committees responsible for governance framework, risk management, and cybersecurity oversight, as well as a broad cross-industry perspective informed by leadership and board experience spanning technology platforms, automotive businesses, and consumer-facing services. Employment Experience: 2024 to Present: Co-Founder, VistaShares, a company seeking to provide investors with solutions to improve portfolio outcomes; 2020 to Present: Co-Founder & Chief Executive Officer, DVx Ventures; 2020 to Present: Advisor, Goodwater Capital, a venture investment firm; 2019 to 2024: Advisory Partner, Advent International, LP, a private equity firm; 2018 to 2019: Chief Operating Officer, Lyft, Inc.; 2015 to 2018: President, Global Sales, Government Relations, Delivery and Service, Tesla, Inc.; 2013 to 2022: Founder & Chairman, TruMotion/Cambridge Mobile Telematics; 2006 to 2015: Chairman & Chief Executive Officer, Enservio; 1997 to 2003: Co-Founder & Chief Executive Officer, Sterling Collision Centers, Inc. Other Public Company Directorships: 2022 to Present: General Motors Company, an automotive manufacturing company.

Shane Grant has been a member of our board of directors since November 2023. He currently serves as Group Deputy CEO, CEO Americas and EVP Dairy, Plant-Based and Global Sales at Danone. He joined Danone in 2020 after nearly 20 years with The Coca-Cola Company in global and operational leadership roles. Earlier in his career, he held senior roles at Unilever. Mr. Grant currently serves on the boards of directors of the US Food Industry Association, Consumer Brands Association, and is a member of the American Heart Association CEO roundtable and World 50. Mr. Grant holds Business and Arts degrees from the University of Auckland. On April 26, 2026, Shane Grant, a member of the Board, informed the Board that he plans to retire from the Board at the end of his current term and will not stand for reelection at the Annual Meeting 2026.

Ms Loehnis Qualifications, Experience and Expertise Contributed to Our Board: Ms. Loehnis is a luxury retail industry veteran whose nearly two decades in executive and senior leadership positions at Yoox Net-a-Porter Group (YNAP), including service as President and Ad Interim Chief Executive Officer, as well as earlier experience at LVMH, provide significant expertise in building, scaling, and marketing premium global consumer brands. Under her leadership, YNAP achieved exponential growth, localized operations in key territories, and launched The Outnet and Mr Porter, expanding its reach to millions of high-value consumers across 180 countries and establishing YNAP as one of the world's leading digital luxury platforms. Her experience strengthens the board's oversight as lululemon continues to enhance in-store and digital guest experiences and drive innovation and expansion across apparel and accessories categories globally. Ms. Loehnis also brings valuable perspectives on talent development through leadership of global teams in creative-driven organizations, as well as through advisory work with J.P. Morgan and consumer-focused investment firm Active Partners. Other Key Skills and Qualifications: Extensive experience managing YNAP's business, operations, and supply chain through transformational milestones, including the 2008 financial crisis, Net-a-Porter's merger with Yoox, Brexit, and YNAP's sale to Mytheresa; and experience working closely with founders to build next-generation consumer brands through advisory roles. Employment Experience: 2026 to Present: Non-Executive Director, Adam Lippes; 2025 to Present: Senior Advisor, Consumer and Retail Investment Banking Group, JPMorgan Chase & Co.; 2025 to Present: Advisor, Active Partners; 2022 to 2025: President & Ad Interim Chief Executive Officer, Yoox Net-a-Porter Group S.p.A.; 2021 to 2022: President, Net-a-Porter Group Limited, Mr Porter and The Outnet; 2015 to 2021: President, Net-a-Porter Group Limited and Mr Porter; 2007 to 2015: Various senior leadership roles, Net-a-Porter Group Limited; 2002 to 2007: Sales and Marketing Director & Sales Director, LVMH (Thomas Pink); 1999 to 2002: Director & Vice-President of Business Development, KPE Digital Agency; 1996 to 1999: Creative Executive, The Walt Disney Company.

On September 8, 2026, the board of directors of lululemon athletica inc. appointed Heidi O'Neill as a member of the Board, effective as of such date. On April 21, 2026, lululemon athletica inc. entered into an employment agreement with Heidi O'Neill whereby it agreed to appoint Ms. O'Neill as Chief Executive Officer and as a member of our board of directors, in each case effective September 8, 2026. Ms. O'Neill, recently concluded a 27-year tenure with Nike, Inc. Most recently, she served as President, Consumer, Product & Brand from 2023 to 2025. In that role, Ms. O'Neill led the integration of global men's, women's and kids' consumer and sport teams, the global product and innovation engine, and global brand marketing and sports marketing. Prior to that, Ms. O'Neill served as President, Consumer & Marketplace from 2020 to 2023, and previously held a variety of leadership roles at Nike, including President, Nike Direct, and Vice President and General Manager of Nike's North America apparel business. Ms. O'Neill began her career in advertising at Foote, Cone & Belding and as Director of Marketing for the Dockers brand at Levi Strauss & Co. Ms. O'Neill currently serves on the boards of directors of Hyatt Hotels Corporation, Lithia Motors, Inc. and Spotify Technology S.A.

The board of directors of lululemon athletica inc. appointed Marc Maurer as members of the Board, effective immediately following the conclusion of the 2026 annual meeting of stockholders held on June 25, 2026.

The board of directors of lululemon athletica inc. appointed Laura Gentile as members of the Board, effective immediately following the conclusion of the 2026 annual meeting of stockholders held on June 25, 2026.

Ranju Das joined lululemon in 2025 to lead the company's technology organization and accelerate the development and execution of its enterprise data, technology, and AI strategy. Mr. Das is an AI and technology leader known for launching disruptive products, scaling multi-billion-dollar businesses, and attracting top global talent across industries including healthcare, fintech, retail, and consumer technology. Prior to joining lululemon, Mr. Das was the founder and CEO of Swan AI Studios, developing next-generation AI platforms for the healthcare, legal, and real estate industries. He has created high-growth ventures both within Fortune 50 corporations and as a founder of startups that scaled from inception to market leadership. Earlier in his career, he served as CEO of OptumLabs, the R&D arm of UnitedHealth Group, where he led enterprise-wide digital and AI initiatives. He also spent nearly eight years at Amazon, where he founded Amazon's AI Services organization and helped launch cornerstone AWS products. Mr. Das is also the co-founder of Foster Dreamzzz, a transformative social venture supporting aging-out foster youth through structured housing, mentorship, career training, and entrepreneurship. Mr. Das holds a Bachelor of Science degree in Civil and Structural Engineering from Annamalai University.

Nikki Neuburger joined lululemon in 2020 as Chief Brand Officer to drive the company's global brand and storytelling initiatives and lead its marketing, brand creative, communications, store design, and social impact functions. In 2024, her role expanded to chief brand & product activation officer, and she now oversees the company's research and product innovation team and footwear portfolio, in addition to her existing brand leadership responsibilities. This evolution unites brand and key aspects of product under one leader to more closely integrate the work of these teams. Prior to lululemon, Ms. Neuburger served as Global Head of Marketing for Uber Eats, where she led the introduction and expansion of the brand globally. Previously, she built her career over a 14-year period at Nike, where she ultimately served as vice president, global brand marketing of Nike Running. Ms. Neuburger holds a B.S. in Business Administration, with a focus on International Business and Marketing, and a minor in Product and Merchandising from Oregon State University.

Mr Bergh Qualifications, Experience and Expertise Contributed to Our Board: Mr. Bergh is a seasoned public company executive with extensive experience in global consumer brands. As President, Chief Executive Officer, and Director of Levi Strauss & Co. for more than a decade, he led a strategic turnaround that revitalized the brand, guided the company's return to the public markets through its 2019 IPO, and restored profitable growth. This transformation included reinvigorating the women's business and repositioning the brand at the center of culture and music. During a 28-year tenure at The Procter & Gamble Company (P&G), Mr. Bergh held several senior leadership roles, leading brand management and consumer engagement initiatives across iconic franchises. Among his accomplishments, he led the development and launch of Swiffer, P&G's most successful new brand in nearly three decades, led the turnaround and growth of Old Spice, and oversaw the integration of the $57 billion Gillette acquisition. He subsequently led Gillette's $7 billion global blades and razors business, growing profits, market share, and total stockholder return through innovation, new product launches, and global brand expansion. Mr. Bergh also brings strong corporate governance experience through board service at Pinterest, e.l.f. Beauty, and HP Inc., where he serves as independent board chair, and currently teaches as a Senior Lecturer at Harvard Business School. Other Key Skills and Qualifications: Executive leader with extensive experience building and revitalizing iconic global consumer brands through strategic transformation and product-led innovation, combined with deep corporate governance expertise developed through service on governance and compensation committees of global public company boards. Employment Experience: 2024 to Present: Senior Lecturer, Harvard Business School; 2024: Senior Advisor, Levi Strauss & Co.; 2011 to 2024: President and CEO, Levi Strauss & Co.; 1983 to 2011: Group President, Global Male Grooming, and various senior leadership roles, The Procter & Gamble Company; 1979 to 1983: US Army Officer. Other Public Company Directorships: 2025 to Present: e.l.f. Beauty; 2024 to Present: Pinterest; 2015 to Present: HP Inc.; 2011 to 2024: Levi Strauss & Co.; 2008 to 2011: VF Corporation.