<SEC-DOCUMENT>0000902664-24-000661.txt : 20240125
<SEC-HEADER>0000902664-24-000661.hdr.sgml : 20240125
<ACCEPTANCE-DATETIME>20240125172659
ACCESSION NUMBER:		0000902664-24-000661
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240125
DATE AS OF CHANGE:		20240125

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STARBUCKS CORP
		CENTRAL INDEX KEY:			0000829224
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING & DRINKING PLACES [5810]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				911325671
		STATE OF INCORPORATION:			WA
		FISCAL YEAR END:			0927

	FILING VALUES:
		FORM TYPE:		DFAN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20322
		FILM NUMBER:		24563325

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 34067
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98124-1067
		BUSINESS PHONE:		2064471575

	MAIL ADDRESS:	
		STREET 1:		2401 UTAH AVENUE SOUTH
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98134

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Strategic Organizing Center
		CENTRAL INDEX KEY:			0002001721
		ORGANIZATION NAME:           	
		IRS NUMBER:				203688367
		STATE OF INCORPORATION:			DC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A

	BUSINESS ADDRESS:	
		STREET 1:		1900 L STREET, NW
		STREET 2:		SUITE 900
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20036
		BUSINESS PHONE:		(202) 721-0660

	MAIL ADDRESS:	
		STREET 1:		1900 L STREET, NW
		STREET 2:		SUITE 900
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20036
</SEC-HEADER>
<DOCUMENT>
<TYPE>DFAN14A
<SEQUENCE>1
<FILENAME>p24-0422dfan14a.htm
<DESCRIPTION>STARBUCKS CORP
<TEXT>
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<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">SCHEDULE 14A</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">Proxy Statement Pursuant to Section 14(a)</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">of the Securities Exchange Act of 1934</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/107% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Filed
by the Registrant </FONT><FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/107% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Filed
by a Party other than the Registrant </FONT><FONT STYLE="font-family: Wingdings">&#254;</FONT></P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">Check the appropriate box:</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
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    <TD STYLE="width: 93%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt; line-height: 107%">Preliminary Proxy Statement</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Wingdings; font-size: 12pt; line-height: 107%">&#168;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt; line-height: 107%">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Wingdings; font-size: 12pt; line-height: 107%">&#168;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt; line-height: 107%">Definitive Proxy Statement</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Wingdings; font-size: 12pt; line-height: 107%">&#254;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt; line-height: 107%">Definitive Additional Materials</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Wingdings; font-size: 12pt; line-height: 107%">&#168;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt; line-height: 107%">Soliciting Material Under Rule 14a-12</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 22pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Starbucks Corporation</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name of Registrant as Specified in Its Charter)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Strategic Organizing Center</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Service Employees International Union</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Mary Kay Henry</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Ahmer Qadeer</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Michael Zucker</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Maria Echaveste</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Joshua Gotbaum</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Wilma B. Liebman</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">(Name of Person(s) Filing Proxy Statement, if
other than the Registrant)</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">Payment of Filing Fee (Check all boxes that apply):</P>

<P STYLE="font: 10pt/85% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 85%"><FONT STYLE="font-family: Wingdings; font-size: 12pt; line-height: 85%">&#254;</FONT></TD>
    <TD STYLE="width: 93%; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 85%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 85%">No fee required.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 85%"><FONT STYLE="font-family: Wingdings; font-size: 12pt; line-height: 85%">o</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 85%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 85%">Fee paid previously with preliminary materials.</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 85%"><FONT STYLE="font-family: Wingdings; font-size: 12pt; line-height: 85%">o</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 85%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 85%">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>The SOC Details Why Board Change is Needed to Fix
Starbucks&rsquo; Broken Approach to Labor Issues, Rehabilitate its Reputation and Help Maximize Shareholder Value </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>Sends letter to Starbucks shareholders and mails
definitive proxy materials </I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>SOC&rsquo;s nominees can bring fresh perspectives
and the right expertise to help improve oversight and safeguard the best interests of Starbucks shareholders, customers and employees</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>Visit www.BrewABetterStarbucks.com for more information
</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: red"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">WASHINGTON &ndash; January
25, 2024 &ndash; The Strategic Organizing Center (the &ldquo;SOC,&rdquo; &ldquo;we&rdquo; or &ldquo;us&rdquo;), a shareholder of Starbucks
Corporation (Nasdaq: SBUX) (&ldquo;Starbucks&rdquo; or the &ldquo;Company&rdquo;), today sent a letter to its fellow shareholders outlining
why enhanced oversight and proven human capital management expertise is needed on Starbucks&rsquo; Board of Directors (the &ldquo;Board&rdquo;).
The SOC also filed definitive proxy materials in connection with Starbucks&rsquo; Annual Meeting of Shareholders (the &ldquo;Annual Meeting&rdquo;),
which is currently scheduled for March 13, 2024.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">For more information, shareholders
can visit: www.BrewABetterStarbucks.com<I>. </I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">The full text of the letter
is included below:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">Dear Fellow Starbucks Shareholders,</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">Starbucks is an iconic company.
For years, it was known not only for great coffee and service, but also for bringing an enlightened approach to how it treated its workers.
Sadly, Starbucks has lost its way.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">As a shareholder of Starbucks
and as an ally to Starbucks employees &ndash; many of whom are also shareholders through the Company&rsquo;s share ownership program &ndash;
the Strategic Organizing Center (the &ldquo;SOC&rdquo;) is seeking to bring urgently needed change to Starbucks&rsquo; boardroom. We believe
the current Board has tolerated an unacceptable level of reputational risk, a counterproductive approach to labor issues and a flawed
allocation of resources. For these reasons &ndash; and to protect shareholder value &ndash; we have nominated three director candidates
(the &ldquo;SOC Nominees&rdquo;), who are ideally suited to help repair the relationship with the Company&rsquo;s workers and regulators
while safeguarding the best interests of all Starbucks&rsquo; stakeholders.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">You can support this change
and be part of ensuring Starbucks returns to the right path for the future. We urge you to use the enclosed&nbsp;<B><U>BLUE</U>&nbsp;</B>proxy
card to vote <B>&ldquo;FOR&rdquo;</B> each of the SOC Nominees today. You can also vote for the SOC Nominees on the Company&rsquo;s White
proxy card. We strongly believe that voting for the SOC Nominees will help ensure the status quo does not continue, and that shareholder
value does not suffer in the same way the Company&rsquo;s reputation has.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE"><B>Starbucks is a company
in crisis</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">For more than two years, Starbucks has gone
to historic lengths to counter its employees&rsquo; attempts to have their voices heard by unionizing. These actions have not only cost
untold millions in legal fees and other expenditures, but the constant media, policymaker and regulatory scrutiny in response to the Company&rsquo;s
actions has also caused significant damage to the value of Starbucks&rsquo; previously enviable brand. Consider the facts:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/107% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Since November 2021, the National Labor Relations
Board (&ldquo;NLRB&rdquo;) has issued <U>over 130 complaints</U> against Starbucks, including approximately <U>420 charges</U> of violating
federal labor law &ndash; all under the watch of the incumbent Board. </FONT></TD></TR></TABLE>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/107% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">During
                                            this period there have been <U>1,100 allegations</U> of violating federal labor laws, including
                                            terminating workers for union activity, refusing to bargain in good faith and retaliatory
                                            store closures.<FONT STYLE="font-size: 8pt"><SUP>1</SUP></FONT></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/107% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">A
                                            report recently commissioned by Starbucks in response to a shareholder proposal that won
                                            <U>majority support</U> at last year&rsquo;s annual meeting found that the Company addressed
                                            initial employee organizing campaigns &ldquo;<U>without clear governance</U>,&rdquo; and
                                            that those leading the response to unionization efforts may have prioritized operational
                                            change over respecting the &ldquo;<U>compliance framework created by the presence of</U>&rdquo;
                                            a union.<FONT STYLE="font-size: 8pt"><SUP>2</SUP></FONT></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/107% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
                                            Company recently experienced <U>significant stock price declines</U> following weakening
                                            sales, with the <U>ongoing labor issues, related litigation and staff walkouts</U> also cited
                                            by outside observers as negative factors for the share price.<FONT STYLE="font-size: 8pt"><SUP>3</SUP></FONT></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/107% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Starbucks currently has <U>370+ unionized stores</U>
with more than <U>9,000 union partners</U> and counting. <U>This is not an issue that is going away</U>.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">Starbucks has claimed that it recognizes
its employees as its &ldquo;most important asset.&rdquo;<FONT STYLE="font-size: 8pt"><SUP>4</SUP></FONT> Unfortunately, its recent actions
do not back this up.</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">We believe that if the Company does not
take meaningful steps to address the shortcomings of its human capital management strategy, shareholder value could suffer as a result.
For instance, under the Company&rsquo;s &ldquo;Triple Shot Reinvention Strategy,&rdquo; it aims to open more than 17,000 new stores by
2030. If the Company continues to try to silence its workforce, we believe this will only continue to divert resources away from Starbucks&rsquo;
ability to realize its growth objectives.</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">The bottom line is this: until Starbucks&rsquo;
Board deals with the crisis that has formed under the current directors&rsquo; watch, the Company will not be able to fulfill its vast
potential.</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>The current Board&rsquo;s efforts are
too little, too late </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">Since the SOC signaled to Starbucks our
intention to nominate director candidates, the Company has issued numerous announcements related to its purported commitment to improving
relations with its employees.<FONT STYLE="font-size: 8pt"><SUP>5</SUP></FONT> These reactive steps have included the formation of a new
Board committee, a public letter to Workers United seeking to reengage in negotiations and multiple letters to shareholders. While the
optimistic view would be to see some of these steps as encouraging, the reality is that we are only able to truly judge their significance
based on <U>what the incumbent Board does, not what it says</U>.</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">___________________</P>

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-size: 10pt"><SUP>1</SUP></FONT>
<FONT STYLE="font-size: 8pt"><I>Students Leverage Their University Affiliation to Gain Ground in the Fight Against Starbucks&rsquo;s Union-Busting
Efforts, </I>American Bar Association (Oct. 31, 2023) https://www.americanbar.org/groups/crsj/publications/human_rights_magazine_home/labor-and-employment-rights/students-fight-starbucks-union-busting/.</FONT></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-size: 10pt"><SUP>2</SUP></FONT>
<FONT STYLE="font-size: 8pt">The Company&rsquo;s &ldquo;Abridged Report to Starbucks Board of Directors Concerning Starbucks&rsquo; adherence
to freedom of association and collective bargaining commitments in its Global Human Rights Statement&rdquo; (see full report here).</FONT></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-size: 10pt"><SUP>3</SUP></FONT>
<FONT STYLE="font-size: 8pt"><I>Why Is Starbucks on the Decline, and Can the Situation Be Turned Around?</I>, RetailWire (Dec. 6, 2023)
https://retailwire.com/discussion/why-is-starbucks-on-the-decline-and-can-the-situation-be-turned-around/.</FONT></P>

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-size: 10pt"><SUP>4</SUP></FONT>
<FONT STYLE="font-size: 8pt"><I>A People Company Serving Coffee</I>, Starbucks, https://archive.starbucks.com/collection/a-people-company-serving-coffee.</FONT></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-size: 10pt"><SUP>5</SUP></FONT>
Relevant Company announcements and statements include: (i) press release, dated November 20, 2023, &ldquo;Starbucks Announces
Intention to Establish New Environmental, Partner and Community Impact Board Committee Focused on Oversight of Stakeholder
Promises&rdquo;; (ii) letter, dated December 8, 2023, &ldquo;Message from Sara: Our Outreach to Resume Contract Bargaining with
Workers United&rdquo;; (iii) letter, dated December 11, 2023, &ldquo;Letter from Starbucks ceo: Affirming what we stand for&rdquo;;
and (iv) statement, dated December 13, 2023, &ldquo;Starbucks Reaffirms Its Commitment to the Principles of Freedom of Association
and the Right to Collective Bargaining.&rdquo;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Case in point: Starbucks recently announced its decision
to unilaterally appoint three new directors and expand the size of the Board. While the Board could have taken this opportunity to demonstrate
its stated &ldquo;unwavering commitment to elevate the partner (employee) experience and offer partners a bridge to a better future,&rdquo;&nbsp;<U>none
of the new Board members appear to have any notable labor law or labor management relations expertise</U>. These appointments reflect,
in our view, a failure by the Board to place due importance on this key aspect of Starbucks&rsquo; business and, moreover, a troubling
lack of follow-through with respect to the Company&rsquo;s commitments to its employees.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Further, <FONT STYLE="color: #2A2C30; background-color: white">the
NLRB&rsquo;s &ldquo;largest and most focused&rdquo; action against the Company yet was just brought on January 9, encompassing nearly
400 stores and alleging that Starbucks is &ldquo;failing and refusing to bargain collectively with the union.&rdquo;</FONT><FONT STYLE="font-size: 8pt; color: rgb(42,44,48); background-color: white"><SUP>6
</SUP></FONT><FONT STYLE="color: #2A2C30">While the Board may want stakeholders to believe it has seen the light,
what we see is an ongoing pattern of disenfranchising employees. </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">We believe the Company&rsquo;s level of response
following the launch of our campaign represents a clear acknowledgment that the Board&rsquo;s oversight of the Company&rsquo;s human capital
strategy has been severely misguided and that even Starbucks recognizes that change is needed. However, Starbucks seems to believe it
can drive this change purely on its own. <U>The Board&rsquo;s track record when it comes to these issues fails to make that case</U>.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>The SOC Nominees have the unique expertise
and independent perspectives Starbucks needs</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Our nominees bring significant leadership experience
from large, national organizations from within the business, government and non-profit sectors; service on various public and private
boards of directors; and expertise in key areas of labor law, policy and regulation. If elected, we expect the SOC Nominees to work constructively
and effectively to recalibrate the Company&rsquo;s approach to its labor issues, rehabilitate its reputation and maximize shareholder
value.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The SOC Nominees are:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 3.75pt; background-color: #FEFEFE"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Maria Echaveste</B>, a former senior White
House official, senior Department of Labor appointee and corporate attorney with significant international relations and public company
board experience.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 3.75pt; background-color: #FEFEFE"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Hon. Joshua Gotbaum</B>, who has been a director
of both public and private companies with decades of experience in corporate governance and change, as well as significant public policy
and government experience.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 3.75pt; background-color: #FEFEFE"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Wilma Liebman</B>, who possesses over 40 years
of experience in labor management, employee relations, wage negotiations, public policy and law &ndash; including having served as the
Chair of the NLRB under President Barack Obama.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3.75pt; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3.75pt; text-align: justify; background-color: #FEFEFE">For their full
biographies, see <U>https://www.brewabetterstarbucks.com/our-nominees.</U></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3.75pt; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3.75pt; text-align: justify; background-color: #FEFEFE">We recognize that
the incumbent directors on Starbucks&rsquo; Board are highly accomplished in their own areas of the business world. It would have been
our preference that following the interview process for our nominees, the Company would have looked to add at least some of the SOC Nominees
to the Board &ndash; rather than unilaterally adding three new directors, given that the SOC Nominees possess <U>demonstrated labor law
and labor relations management expertise, which is sorely needed on the Board</U>.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3.75pt; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3.75pt; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt; text-align: justify; background-color: #FEFEFE">___________________</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0pt; text-align: justify; background-color: #FEFEFE"></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 3.75pt; text-align: justify; background-color: #FEFEFE"><FONT STYLE="font-size: 8pt"><SUP>6
</SUP><I>Starbucks Hit With Sweeping Complaint for Refusal to Bargain</I>, Bloomberg Law (Jan. 9, 2024), https://news.bloomberglaw.com/daily-labor-report/starbucks-hit-with-nationwide-complaint-for-refusal-to-bargain.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3.75pt; text-align: justify; background-color: #FEFEFE">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3.75pt; text-align: justify; background-color: #FEFEFE">As a result of
the Board&rsquo;s responses to the ongoing labor crisis, we are recommending shareholders &ldquo;<B>WITHHOLD</B>&rdquo; on the following
directors: Ritch Allison (Compensation Committee chair), Andy Campion (Audit Committee chair) and J&oslash;rgen Vig Knudstorp (Nominating/Governance
Committee chair).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3.75pt; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3.75pt; text-align: justify; background-color: #FEFEFE">We have chosen
to oppose these individuals because each of them holds a position of leadership on the Board, as defined by chairing at least one of the
Board&rsquo;s committees. As a result, we believe they bear primary responsibility for the complacency and lack of oversight that has
led Starbucks to the current crisis it finds itself in.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3.75pt; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3.75pt; text-align: center; background-color: #FEFEFE">*****</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The SOC believes that our nominees are the right
choice to help address the pressing issues Starbucks is facing as a result of the current Board&rsquo;s failure to oversee and instill
an effective human capital management strategy. We look forward to communicating more with our fellow shareholders in the near future.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Sincerely,</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The Strategic Organizing Center</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3.75pt; text-align: center; background-color: #FEFEFE">*****</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>DISCLAIMER</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="background-color: #FEFEFE">This
material does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in any state
to any person. In addition, the discussions and opinions in this press release and the material contained herein are for general information
only, and are not intended to provide investment advice. All statements contained in this press release that are not clearly historical
in nature or that necessarily depend on future events are &ldquo;forward-looking statements,&rdquo; which are not guarantees of future
performance or results, and the words &ldquo;will,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;expect,&rdquo; &ldquo;potential,&rdquo;
&ldquo;could,&rdquo; &ldquo;opportunity,&rdquo; &ldquo;estimate,&rdquo; and similar expressions are generally intended to identify forward-looking
statements. Any projected results and/or statements contained in this press release that are not historical facts are based on current
expectations, speak only as of the date of this press release and involve risks that may cause the actual results to be materially different.
Certain information included in this press release is based on data obtained from sources considered to be reliable. No representation
is made with respect to the accuracy or completeness of such data, and any analyses provided to assist the recipient of this press release
in evaluating the matters described herein may be based on subjective assessments and assumptions and may use one among alternative methodologies
that produce different results. Accordingly, any analyses should also not be viewed as factual and also should not be relied upon as an
accurate prediction of future results. Any figures are unaudited estimates and subject to revision without notice. The SOC disclaims any
obligation to update the information herein and reserve the right to change any of their opinions expressed herein at any time as they
deem appropriate. Past performance is not indicative of future results.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE"><B>Investor Contact</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">Okapi Partners</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">Bruce Goldfarb / Pat McHugh,
(212) 297-0720</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">info@okapipartners.com</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE"><B>Media Contacts </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">Longacre Square Partners</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">soc-sbux@longacresquare.com</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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