AnnualShareholderMeeting

June 27, 2007

2

RICHARD M. SCHULZEFounder and

ChairmanDirector since 1966

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• Election of Directors• Ratification of

Appointment of Deloitte & Touche LLP

• Amend 2004 Omnibus Stock and Incentive Plan

• Management Presentation

• Q&A Session

Agenda

4

Directors for Election

Ronald JamesDirector since 2004

Elliot S. KaplanDirector and Secretary

since 1971

Matthew H. PaullDirector since 2003

5

James E. PressDirector since 2006

Richard M. SchulzeFounder and Chairman

Director since 1966

Mary A. TolanDirector since 2004

Hatim A. TyabjiDirector since 1998

Directors for Election

6

Rogelio M. RebolledoDirector since 2006

Ratification of Director

7

Director Voting Results

Kaplan Press Tolan Rebolledo

0%

20%

40%

60%

80%

100%

James Paull Schulze Tyabji

For Withheld

8

Auditor Voting Results

99%

0.20% 0.50%

For Against Abstain

9

Omnibus Voting Results

94%

5% 0.70%

For Against Abstain

AnnualShareholderMeeting

June 27, 2007

11

Brad AndersonVice Chairman andChief Executive Officer

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Safe Harbor

Cautionary Statement Pursuant to the Private Securities Litigation Reform Act of 1995

This presentation may contain forward-looking statements, which are subject to risk and uncertainty. A variety of factors could cause our actual results to differ materially from the anticipated results expressed in such forward-looking statements, including, among other things, factors listed in our Annual Report on Form 10-K filed with the SEC on 5/02/07. That 10-K describes additional factors that could cause actual results to differ materially from those contemplated by the forward-looking statements made in this presentation.

13

14

Darren JacksonExecutive Vice President – Finance and Chief Financial Officer

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History of Growth

21%

16%19% 20%

22%

FY03 FY04 FY05 FY06 FY07

$1.11$1.44

$1.75$2.27

$2.79

FY03 FY04 FY05 FY06 FY071 Pro-forma adjusted for FAS 123 expense

21% CAGR

ROIC2 FY07 Results

Total revenue growth 16%

Comp revenue growth 5.0%

Operating income % +23 bps

Diluted EPS growth 23%

N. American market share 20%2 FY03-FY05 are not adjusted for FAS 123 expense

Diluted EPS1

+5 pts

$35.9$30.8

$27.4$24.5

$20.9

FY03 FY04 FY05 FY06 FY07

15% CAGR

Revenue($ in billions)

16

Fiscal 2008

First Quarter:• Revenue of $7.9 billion• Comparable store sales

gain of 3.0%• Gross profit rate decline• SG&A rate flat• Repurchase $412 million

of common stock• Earnings per diluted

share decreased 17%

Annual Guidance:• Revenue of $39 billion• Comparable store sales

gain of 3% to 5%• Nominal improvement in

operating income rate• EPS of $2.95 to $3.15• 130 New stores:

– 95 United States– 35 International

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Investing for the Future

Investing in growth and ROIC

Core Business Growth Opportunities

Direct Shareholder Returns

• New stores• Services• Pacific Sales• Best Buy Mobile• Best Buy For Business

• Acquisitions to provide new:– Capabilities (Speakeasy)– Customers(Pacific Sales)– Markets (Future Shop)– Vendor relationships (Magnolia)–Geographies(Five Star)

• $5.5 billion Stock repurchase plan

– $3.0 billion accelerated share repurchase

• 30% dividend increase

18

Brian DunnPresident and Chief Operating Officer

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Notebook

Gaming System

Digital Camera

Networking

PhoneSatellite Radio

iPhone

DVR

Home Theater Systems

Desktop

Technology is Not Just a Lifestyle…

It is the infrastructure of life.

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Customer Centricity: Our Growth Lens

Core Business

New Customers & Formats

New Markets

Customer Experience

21

Future Growth

Today Goal New Goal

U.S. Best Buy Pacific Sales Canada: Future Shop/Best Buy

N. American New Store Runway

1,035

1,400

1,800

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Your Questions