Chip Wilson, Founder of lululemon athletica inc. (NASDAQ: LULU) ("lululemon" or the "Company") and one of lululemon's largest shareholders, today released the following statement regarding recent settlement discussions with lululemon's Board of Directors (the "Board").

In a May 13 email copying Marti Morfitt, Chip Bergh proposed on behalf of the Board eight principal terms. Those terms as directly stated by Mr. Bergh are:

• We (lululemon) choose and appoint two of your nominees to the Board after the AGM.
• We agree to one additional mutually agreed director between now and October.
• One incumbent director will step down at the 2027 AGM.
• We (lululemon) will add your 2 nominees to our CRSG committee.
• We (lululemon) will create a product/brand advisory council and appoint your third nominee to this council.
• We (lululemon) will accept your declassification proposal and recommend a vote "for" on the proxy.
• We (lululemon) require a 2-year standstill and non-disparagement and expect you to vote with the board for the 2-year period.
• Mutually agreed press release.