ANNUAL MEETING OF SHAREHOLDERS - MARQETA INC

Explicit Guidance:

• No explicit financial guidance provided for fiscal 2027 or beyond regarding revenue, earnings, margins, capital expenditures, cash flow, tax rates, or share counts.
• No specific targets announced for dividends, buybacks, or share count changes beyond the historical return of "approximately $67 million" in fiscal 2026.

Business-Segment Outlook:

• New Product Pipeline: Commitment to launching "more than 40 new product lines and extensions" over the past year, with a specific focus on healthcare solutions, workplace offerings, and residential products to address evolving customer needs.
• Channel Expansion (Retail): Plans to continue opening new Direct-to-Consumer (DWR and Herman Miller) locations in priority U.S. markets to grow the retail channel and introduce modern designs to new audiences.
• Global Reach: Operating across "more than 100 countries" with a focus on maintaining a robust dealer network to serve customers at scale.
• Showroom Network: Ongoing investment in the global showroom network to drive customer engagement and conversion, following recent expansions in Chicago (flagship), New York, Monterey, Sao Paulo, and Shanghai.

Market and Competitive Outlook:

• Strategic Focus: Entering fiscal 2027 with a strategic pivot to "elevate the level of operational discipline" by concentrating resources on initiatives believed to create the "greatest value for shareholders."
• Value Proposition: Leveraging a competitive advantage as a "collective of design-driven brands" to drive value through the contracts and retail channels.
• Brand Strength: Maintaining leadership positioning in design, sustainability, and culture, evidenced by recent recognition as a top employer and community-minded company.

Macro / Industry Outlook:

• No specific commentary or forecasts provided regarding the broader economy, interest rates, foreign exchange (FX) impacts, regulatory changes, or tariffs.

Strategic Initiatives:

• Cost Discipline: Maintaining "rigorous cost discipline" and aligning expenses with revenue levels as a primary operational focus for fiscal 2027.
• Capital Allocation: Sharpening focus on cash flow and balance sheet strength to "support debt reduction" while preserving capacity for growth investments.
• Debt Reduction: Continued effort to reduce total outstanding debt (citing a $41 million reduction in FY2026 as the baseline trend).
• Operational Efficiency: Concentrating resources on high-value initiatives to improve overall operational priorities.

Risks and Headwinds to Outlook:

• Forward-Looking Statement Disclaimer: Standard warning that actual results may differ materially from forward-looking statements due to risks and uncertainties discussed in the company's Form 10-K, 10-Q, and other SEC reports.
• No Specific Headwinds: No specific operational, market, or financial headwinds identified within the provided remarks.

Management Tone on the Future:

• Confidence: Tone is "happy" and "strong," citing a "strong finish" to fiscal 2026 and emphasizing clear areas of focus.
• Priorities: Leadership expresses a clear priority to "grow profitably" and drive value, indicating a disciplined, cautious, yet growth-oriented approach for the upcoming fiscal year.

Miscellaneous:

• Governance: Board elections for Jeannie Yang, Michael R. Smith, and Claire Spofford approved for three-year terms ending at the 2029 Annual Shareholder Meeting.
• Audit: Appointment of KPMG LLP ratified as independent auditor for the fiscal year ending May 29, 2027.
• Incentive Plan: Approval of the Miller & Noll, Inc. 2026 Long-Term Incentive Plan.
• Historical Context: FY2026 net sales were $3.84 billion (up 5%), with $1.86 adjusted diluted EPS.