RLRalph Lauren Corporation

Most recently, In April 2025, the U.S. announced significant changes to its trade policies, policies under the authority of the International Emergency Economic Powers Act ("IEEPA"), including widespread tariff increases on imported goods (including on those countries from which we import a substantial amount of our finished products, most notably Vietnam, Cambodia, and China) with the potential for additional tariffs and further increases to existing tariffs, and revisions or terminations to of existing trade agreements. In response, many countries have announced or are otherwise considering retaliatory tariffs on U.S. exports and other trade restrictions. This has led In February 2026, the U.S. Supreme Court invalidated the IEEPA tariffs previously applied to significant our imports, after which the current administration announced a new round of tariffs under an alternative U.S. Trade Act authority. In March 2026, the U.S. Court of International Trade issued an order directing U.S. Customs and Border Protection to refund IEEPA tariffs that were previously collected, and in April 2026, U.S. Customs and Border Protection announced the refund process leveraging the Consolidated Administration and Processing of Entries Claim Portal through a phased rollout. Although we have taken steps to preserve our rights with respect to potential refunds, there can be no assurance that we will receive any refunds, in whole or in part. These developments have increased uncertainty regarding the future relationship between the U.S. and other countries, as well as growing concerns about countries and could contribute to a global trade war, higher inflation, and a potential global recession, economic slowdown, any of which has already caused significant caused, and could continue to cause, volatility of in global stock markets and foreign currency exchange rates.

The global economy and retail industry are impacted by many uncontrollable factors. Most recently, factors beyond our control. In April 2025, the U.S. announced significant changes to its trade policies, policies under the authority of the International Emergency Economic Powers Act ("IEEPA"), including widespread tariff increases on imported goods, with potential for new tariffs and further increases and on existing tariffs in the future, as well as revisions or terminations to existing trade agreements. In response, many countries have announced or are otherwise considering retaliatory tariffs on U.S. exports and other trade restrictions. This has led In February 2026, the U.S. Supreme Court invalidated the IEEPA tariffs previously applied to significant our imports, after which a new round of tariffs was announced by the current administration under an alternative U.S. Trade Act authority. In March 2026, the U.S. Court of International Trade issued an order directing U.S. Customs and Border Protection to refund IEEPA tariffs that were previously collected, and in April 2026, U.S. Customs and Border Protection announced the refund process, leveraging the Consolidated Administration and Processing of Entries Claim Portal through a phased rollout. Although we have taken steps to preserve our rights with respect to the potential refunds, there can be no assurance that we will receive any refunds, in whole or in part. These developments have also increased uncertainty regarding the future relationship between the U.S. and other countries, as well as growing concerns about countries and could contribute to a global trade war, higher inflation, and a potential global recession, economic slowdown, any of which has already caused caused, and could continue to cause, significant volatility of in global stock markets and foreign currency exchange rates.

Other off-balance sheet firm commitments amounted to $ 1.589 1.579 billion as of March 29, 2025, 28, 2026, including inventory purchase commitments of $ 937.8 808.3 million, lease commitments related to lease agreements for which the related lease terms have not yet commenced of $ 90.0 147.5 million, outstanding letters of credit of $ 10.6 10.4 million, interest payments related to the Company's debt of $ 129.3 million, a real estate purchase commitment of $ 116.9 262.1 million, and various other commitments of $ 304.8 350.9 million, primarily comprised of the Company's legally-binding obligations related to sponsorship, licensing, and other marketing and advertising agreements, information technology-related service agreements, and pension-related obligations.