The document summarizes the agenda and results of Best Buy's annual shareholder meeting on June 25, 2008. It includes the election of directors, ratification of auditors, approval of employee stock plans, and amendments to articles of incorporation. Presentations were given on the company's performance, strategies for growth, and international expansion. Best Buy aims to double its revenue to $80 billion in the next five years through its multi-brand retail strategy and partnerships.

1. Regular Meeting
of Shareholders
June 25, 2008

2. RICHARD M.
SCHULZE
Founder and
Chairman
Director since 1966
2

3. Agenda
• Election of Directors
• Ratification of Appointment of
Deloitte & Touche LLP
• Approve 2008 Employee
Stock Purchase Plan
• Approve Amendment to
Restated Articles of
Incorporation
• Management Report
• Q&A Session
3

4. Class 1 Directors for Election
Bradbury H. Anderson Allen U. Lenzmeier
Kathy J. Higgins Victor
Vice Chairman and CEO Vice Chairman
Director since 1999
Director since 1986 Director since 2001
4

5. Class 1 Directors for Election
Rogelio M. Robolledo Frank D. Trestman
Director since 2006 Director since 1984
5

6. Ratification of Class 2 Director
G. Mike Mikan
Director since 2008
6

7. Director Voting Results
100%
75%
50%
25%
0%
Anderson Higgins Lenzm eier Rebolledo Trestm an Mikan
Victor
For Withheld
7

8. Auditor Voting Results
99.1%
0.8%
0.1%
For Against Abstain
8

9. ESPP Voting Results
96%
3% 1%
For Against Abstain
9

10. Amendment to Articles Voting Results
78%
21%
1%
For Against Abstain
10

11. Management Report
11

12. Brad Anderson
Vice Chairman and
Chief Executive Officer
12

13. Safe Harbor
Best Buy’s Forward-Looking and Cautionary Statements:
This presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995 as contained in Section 27A of the U.S. Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934 that reflect Best Buy management’s current views and estimates regarding future market conditions, company
performance and financial results, business prospects, new strategies, the competitive environment and other events. You
can identify these statements by the fact that they use words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,”
“project,” “plan,” “outlook,” and other words and terms of similar meaning. These statements involve a number of risks and
uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking
statements. Among the factors that could cause actual results and outcomes to differ materially from those contained in
such forward-looking statements are the following: failure to receive necessary approvals for the transaction; failure to
achieve anticipated benefits of the transaction; and integration challenges relating to the new venture. Other factors include
the following: general economic conditions, acquisitions and development of new businesses, divestitures, product
availability, sales volumes, pricing actions and promotional activities of competitors, profit margins, weather, changes in law
or regulations, foreign currency fluctuation, availability of suitable real estate locations, Best Buy’s ability to react to a
disaster recovery situation, and the impact of labor markets and new product introductions on overall profitability. A further
list and description of risks, uncertainties and other matters can be found in Best Buy’s annual report and other reports filed
from time to time with the U.S. Securities and Exchange Commission, including, but not limited to, Best Buy’s Annual Report
on Form 10-K filed with the SEC on April 30, 2008. Best Buy cautions that the foregoing list of important factors is not
complete and assumes no obligation to update any forward-looking statement that it may make.
13

14. Customer Centricity
14

15. Jim Muehlbauer
Executive Vice President – Finance
and Chief Financial Officer
15

16. History of Strong Growth
Revenue Growth Diluted EPS1
~15% CAGR 23% CAGR
+11%
+17%
+12%
+12%
+23%
+12% +30%
$40.0
+17% $35.9 +22%
+18% $3.12
+30%
$30.8
$2.79
$27.4 +4%
$24.5 $2.27
$20.9
$1.75
$1.44
$1.11
FY03 FY04 FY05 FY06 FY07 FY08
FY03 FY04 FY05 FY06 FY07 FY08
Pro-forma adjusted for FAS 123 expense
1
($ in billions)
16

17. History of High Returns
ROIC1 FY08 Results
• Milestone of $40B in revenue
+4Pts
• Comparable store sales gain
of 2.9%
22%
21%
20% 20%
19%
• 12% EPS growth
16%
• Strong strategic indicators
• U.S. market share: 21%
FY03 FY04 FY05 FY06 FY07 FY08
Fiscal years 2003 thru 2005 have not been adjusted for FAS 123 expense
• Canada market share: >35%
• Employee turnover: ~60%
17

18. Fiscal 2009
First Quarter: FY09 Guidance:
• Revenue of $9.0 billion • Revenue of $43 billion to
• Comparable store sales $44 billion
gain of 3.7% • Comparable store sales
• EPS of $0.43, increased gain of 1% to 3%
10% vs. prior year’s quarter
• 30-40 bps of operating
• 599 Best Buy Mobile stores
income de-leverage driven
converted; balance of U.S.
by growth investments
chain completed by 12/08
• EPS of $3.25 to $3.40, an
• Increased market share 1.5
increase of 7%, before
points (est.), fueled by
impact of European new
notebooks, mobile phones,
flat-panel TVs, video venture & postponed share
gaming, appliances repurchase activity
18

19. Investing For Returns and Future Growth
Two-Year History
Direct
Core Growth
Shareholder
Business Opportunities
Returns
• New stores • Acquisitions/Ventures • $4.1B of share
repurchases
• Pacific Sales
• 217 new North
American stores • Dividend increases
• Five Star
• FY07 25% increase
• BestBuy.com • Speakeasy
• FY08 30% increase
• Best Buy Mobile
• Home Theater
Experience • FY09 8% increase
• CPW/BBY Venture
• Apple Store in Store • New Countries
19

20. 20

21. Bob Willett
Chief Executive Officer – Best
Buy International and Chief
Information Officer
21

22. Our International Portfolio Growth Approach
China
Europe
Canada
Mexico Turkey
22

23. CPW’s Retail Presence
CPW is Europe’s largest independent mobile phone retailer and is the leading independent retailer in most
of the markets in which it operates
Sweden
Belgium
UK
96 Stores / 10% Market Share
84 Stores / 15% Market Share
824 Stores / 20% Market Share
Netherlands
190 Stores /
10% Market Share
Ireland
69 Stores / 20% Market Share
Portugal
171 Stores / 18% Market Share
Germany
210 Stores /
Spain 5% Market Share
432 Stores / 10% Market Share France
335 Stores / 10% Market Share
March 2008 Estimated Store Count and Market Share
23
23

24. Best Buy’s Strategy – Own the Home
The Living Room The Bedroom
The Car
The Home Office The Kitchen
Service
24

25. CPW’s Strategy – Connections
Wireless &
MVNO
Billing &
Insurance
Broadband
and Fixed Line
25

26. Together we create a “Connected World”
Service
Wireless &
MVNO
The Living Room The Bedroom
ic
a
Dat T Mus
V
ce
Voi Game
s
Movies
Billing & Wireless
The Car Network
Insurance The Home Office The Kitchen
Broadband
and Fixed Line
26

27. 27

28. Brian Dunn
President and Chief Operating
Officer
28

29. Our Brands and Partners
29

30. Our Brands and Partners
30

31. Past, Present and Future
Growth Goal:
Double in Five Years
$80 Billion
$40 Billion
$20 Billion
FY03 FY08 FY13
31

32. Your
Questions
32