Morgan Stanley Global Consumer and Retail Conference November 18, 2015

Scott Maw, Starbucks cfo

Forward Looking Statements

© 2015 Starbucks Coffee Company . All Rights Reserved.

This presentation contains forward‐looking statements. Forward‐looking statements are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements and should be considered in conjunction with cautionary statements and risk factor discussions in our filings with the SEC, including our last annual report on Form 10K. Starbucks assumes no obligation to update any of these forward‐looking statements or information. Please refer to the footnote within a particular slide or to the table at the end of this presentation to find reconciliations of non‐GAAP financial measures noted in this presentation with their corresponding GAAP measures.

Investing in

Growth

$2.0

$2.5

$3.1

$3.7

FY12 FY13 FY14 FY15

15.0% 16.5%

18.6% 19.1%

FY12 FY13 FY14 FY15

$13.3 $14.9

$16.4

$19.2

FY12 FY13 FY14 FY15

13% CAGR

Profitable GROWTH

Consolidated Operating Margin* (%) Consolidated Revenue (in billions)

Consolidated Operating Income* (in billions)

* FY13, FY14 and FY15 operating margin, operating income and earnings per share figures are Non-GAAP; operating margin, operating income and earnings per share growth rates are based on Non-GAAP figures; a reconciliation of GAAP to non-GAAP measures can be found at the end of this presentation.

$0.90

$1.10

$1.33

$1.58

FY12 FY13 FY14 FY15

Earnings Per Share*

23% CAGR 21% CAGR

410 BPS

4% 4%

7%

5%

4%

3%

2%

1%

2% 3%

4% 4%

2% 2%

1%

2%

1%

3%

4%

4%

3% 4%

3% 4%

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Transaction Growth Ticket Growth

FY 13 FY 14 FY 15

7%

6% 6%

8%

5%

6% 6%

5% 5%

7% 7%

8%

STRONG Top Line Growth

Global Comparable Store Sales Growth

Playing The LONG GAME

Win with Partners

Uniquely Positioned at the Intersection of Physical and Digital

Coffee, Tea and Occasions

Extend the Store Portfolio

Loyalty/Digital Expand CPG

Win with Partners - Investing for Growth

FY15

YOY Incremental Investment ~$145M

FY16

~$100M - $125M

Competitive Pay

Health Care

2 Years of College

On-shift Beverage

Stock Compensation

Pre-FY15

Partner Benefits

Partner / Digital

Partner Benefits

Enhanced Pay

Food Benefit

Four Years of College

Additional Pay Expanded College

Partner / Digital

International Markets

Coffee, Tea and Occasions

Unparalleled

super- premium tea expertise

Bringing premiumization to the coffee category

Creating and fulfilling

new occasions in our stores

Coffee Leadership

Agronomy

Starbucks Reserve ®

Innovation

Starbucks Reserve®

Teavana – Elevating the Tea Category

Driving

REVENUE growth

Contributing to

COMP growth

Increasing ATTACH

Occasions – Growth Through INNOVATION

U.S.

AFTERNOON LUNCH EVENINGS

OWN THE MORNING GO BIG ON LUNCH REFRESHMENTS AND SNACKS EXTEND THE 3RD PLACE OWN THE MORNING

MORNING

Lunch/Mid-day +30% Morning +22% Afternoon/Evening +19%

Average transaction growth in the last 5 years*:

* Average transactions per store per day, U.S. company operated , growth from FY10-FY15

New Stores - Growth Through Global Expansion

In FY07,

70% of 2,500+ net new stores

were INSIDE the U.S.

Company Operated Market

JV/ Licensed Market

FY15 Equity Ownership:

New Stores - Growth Through Global Expansion

In FY16,

70% of 1,800 net new stores

will be OUTSIDE the U.S.

New Stores - Growth Through Global Expansion

In FY16,

70% of 1,800 net new stores

will be OUTSIDE the U.S.

SIGNIFICANT opportunity

in China & Japan

New Stores – Growth Through Store Formats

Starbucks Reserve ®

Drive Thru Only

Mobile Trucks

Express Store

Extend CPG Globally

U.S.

INNOVATION OPPORTUNITY UNIQUE ASSETS INTERNATIONAL RTD

$6B China Coffee & Energy Market

Partnership with Tingyi

$4B Latin America Coffee & Energy Market

Partnership with PepsiCo

Share leader in premium

Roast & Ground and

K-Cups®

80% of U.S. Coffee occasions occur outside

of coffee shops

~500 Signature Aisles in grocery stores

+21M stars earned by My

Starbucks Rewards® members down the aisle

Convenience

Service

Frequency

Broad Store and Customer Network

35% of transactions (pre-paid)

1 in 7 adults in the U.S. received a Starbucks Card in Holiday 2015

$5+ Billion in Card Loads in FY15

Robust Card Program

10M active members in the U.S.

High Value, Efficient Cost

Unparalleled Loyalty Program

A UNIQUE and POWERFUL Digital Ecosystem…

21% of transactions as of October

Store Locator, Menu, Messages

Mobile Speed, Relevance, Convenience

Opportunity

Stars Everywhere

Engaged Customers & Partners

Speed, Convenience

…And We Are Just GETTING STARTED

Stores

Card

Loyalty

Mobile Order & Pay

Delivery

$1.8

$2.9

$3.4

$3.7

FY12 FY13 FY14 FY15

INCREASING Operating Cash Flow

* Non-GAAP measure; FY14 GAAP operating cash flows of $608 million have been adjusted to exclude the $2.8 billion cash payment elated to the Kraft arbitration matter.

Operating Cash Flow (in billions)

*

29% CAGR

INCREASING Cash Returned to Shareholders

$0.6 $0.5 $0.8

$1.4 $0.5 $0.6

$0.8

$1.0

FY12 FY13 FY14 FY15

DIVIDENDS

SHAREREPURCHASES

$1.1 $1.2

$1.6

Cash Returns (in billions)

Dividends paid in FY15 +22%

$2.4

TSR FY11 to FY15: +380%

Coffee Cost Trend – 3 Years

Monthly SBUX Rate C Price + SBUX Differential SBUX Average P&L Rate

FY 14 FY 15 FY 16

Mid-Single Digits

COMP GROWTH

Consistent High Growth Over the Long Term

*Based on Non-GAAP EPS. A reconciliation of GAAP to Non-GAAP measures can be found at the end of this presentation. ** ROIC defined as NOPAT/Average Invested Capital. NOPAT adjusted for implied lease interest expense; average invested capital includes present value of minimum lease obligations and excludes cash, cash equivalents and short- and long-term investments.

10%+

REVENUE GROWTH

>25%

Increasing

50-100 bps

per year

ROIC**

Growth of

15-20%

Non-GAAP EPS*

FY16 Somewhat above Mid-Single Digits

10%

53rd week will add an incremental ~2%

$1.87 to $1.89 Including 53rd week

Up 50-100 BPS

© 2015 Starbucks Coffee Company . All Rights Reserved.

Q&A

GAAP/Non-GAAP Reconciliation

Non-GAAP OPERATING INCOME RECONCILIATION FY13 FY14 FY15

GAAP (325.4)$

Litigation charge resulting from Kraft Arbitration 2,784.1

Non-GAAP 2,458.7$

GAAP 3,081.1$

Litigation credit resulting from Kraft Arbitration (20.2)

Costs from transactions in Q4 2014 (1) 2.4

Non-GAAP 3,063.3$

GAAP 3,601.0$

Starbucks Japan acquisition-related items - other (2) 54.6

Non-GAAP 3,655.6$

(1) Includes a portion of the transaction costs incurred in Q4 FY14 related to the acquisition of

Starbucks Japan and costs related to the sale of our Australia retail operations in Q4 FY14. The

remaining majority of the impact from these transactions is included in net interest income and other.

(2) Includes ongoing amortization expense of acquired intangible assets and transaction and

integration costs.

Non-GAAP OPERATING MARGIN % RECONCILIATION FY13 FY14 FY15

GAAP (2.2)%

Litigation charge resulting from Kraft Arbitration 18.7%

Non-GAAP 16.5%

GAAP 18.7%

Litigation credit resulting from Kraft Arbitration (0.1)%

Costs from transactions in Q4 2014 (1) 0.0%

Non-GAAP 18.6%

GAAP 18.8%

Starbucks Japan acquisition-related items - other (2) 0.3%

Non-GAAP 19.1%

(1) Includes a portion of the transaction costs incurred in Q4 FY14 related to the acquisition of

Starbucks Japan and costs related to the sale of our Australia retail operations in Q4 FY14. The remaining

majority of the impact from these transactions is included in net interest income and other.

(2) Includes ongoing amortization expense of acquired intangible assets and transaction and integration costs.

Non-GAAP EPS RECONCILIATION FY13 FY14 FY15FY16

Projected

GAAP 0.01$ (1) The net benefit from transactions in Q4 2014 relates primarily to a $0.02 gain

Litigation charge resulting from Kraft Arbitration 1.12 on the sale of our Malaysia equity method investment, partially offset by a loss on

Gain on sale of equity in Mexico joint venture (0.02) the sale of our Australia retail operations and transaction costs incurred in Q4 FY14

Gain on sale of equity in Chile and Argentina joint ventures (0.02) related to the acquisition of Starbucks Japan.

Non-GAAP 1.10$ (2) Gain represents the fair value adjustment of Starbucks preexisting 39.5%

GAAP 1.35$ ownership interest in Starbucks Japan upon acquisition.

Litigation credit resulting from Kraft Arbitration (0.01) (3) Includes ongoing amortization expense of acquired intangible assets and transaction and integration

Net benefit from transactions in Q4 2014 (1) (0.02) costs, such as incremental IT and compensation-related costs associated with the acquisition.

Non-GAAP 1.33$ (4) Represents the loss on extinguishment of debt ($61.1M), which is comprised of the cost

GAAP $1.82 of the optional redemption provision, unamortized debt issuance costs, and unamortized

Starbucks Japan acquisition-related items - gain (2) (0.26) discount associated with the $550 mill ion of 6.250% 2017 Senior Notes redeemed in Q4 FY15,

Starbucks Japan acquisition-related items - other (3) 0.03 as well as the related unamortized interest rate hedge loss ($2.0M), which was recorded in

Debt extinguishment-related items (4) 0.03 interest expense.

Tax benefit from domestic manufacturing deduction (5) (0.04) (5) Represents the incremental benefit related to additional domestic manufacturing

Non-GAAP 1.58 deductions to be claimed in our U.S. consolidated tax returns for FY10 through FY14 and

GAAP $1.84 - $1.86 through Q3 FY15.

Starbucks Japan acquisition-related items - other (3) 0.03

Non-GAAP $1.87 - $1.89