DEAR FELLOW SHAREHOLDERS — It was in 1971 when we opened the door to our very first store in Pike Place Market - a significant moment in time that began our journey as a purpose-driven company focused on a mission, anchored in values and grounded in the human experience. Today, Starbucks is known as one of the world’s most admired and trusted companies. Such reflection on the past several decades reminds us of the importance of staying true to our mission and values. Looking into the future inspires us to boldly reimagine the future of Starbucks. It is this balance between honoring the past and reinventing the future that has made this past year one of transformative growth for our company. Under the leadership of our world-class Starbucks management team, we made investments toward the future well-being of our company and elevated the Starbucks Experience for hundreds of millions of loyal customers. At the heart of our success are more than 400,000 Starbucks partners (employees) in over 31,000 stores across over 80 markets around the world who transform our stores into communities. Our customers visit daily, seeking an opportunity to connect and be inspired.