Chewy, Inc. Announces Major \$500 Million Increase to Share Repurchase Program

PLANTATION, FL – April 8, 2026 – Chewy, Inc. (“Chewy” or the “Company”; NYSE: CHWY), a leading online retailer of pet food and other pet-related products, has announced a significant expansion of its share repurchase program. The Company’s Board of Directors approved an additional \$500 million in share repurchase authorization, substantially increasing the capacity of its ongoing buyback efforts.

Key Points for Investors

• Substantial Program Increase: The new \$500 million authorization is incremental to the approximately \$119.4 million that remained under Chewy’s previous \$500 million buyback program (originally authorized in May 2024).
• Aggregate Authorization: With this expansion, Chewy’s total available repurchase authorization now exceeds \$619 million, providing considerable flexibility for capital allocation and potential shareholder returns.
• Eligible Securities: The program covers both Class A common stock (par value \$0.01 per share) and Class B common stock (par value \$0.01 per share).
• Repurchase Methods: Chewy may repurchase shares on a discretionary basis using open market purchases, private transactions, or in accordance with Rule 10b-18 and/or Rule 10b5-1 under the Securities Exchange Act of 1934, among other methods.
• No Expiration or Commitment: The program does not require the repurchase of any specific number of shares, has no expiration date, and can be modified, suspended, or terminated by the Company at any time.
• Factors Influencing Repurchases: The timing and amount of repurchases will depend on several variables, including stock price, trading volume, market conditions, legal requirements, and other business considerations.

Why This Matters to Shareholders

• Potential Impact on Share Value: Share repurchase programs are often viewed positively by investors as they can signal management’s confidence in the company’s future and may support the share price by reducing the number of shares outstanding.
• Capital Allocation: The enlarged program gives Chewy the flexibility to return significant capital to shareholders, which may be particularly relevant in periods of excess cash flow or undervalued share prices.
• Price-Sensitive Information: The announcement of a \$500 million increase is a material event and is considered price-sensitive. Investors may anticipate a positive impact on Chewy’s stock price, especially if and when the Company begins or accelerates share repurchases.
• Ongoing Review: The Company’s ability to modify, suspend, or terminate the program means investors should continue to monitor Chewy’s filings and communications for any changes to this capital allocation strategy.

Additional Company Information

• Company Headquarters: 7700 West Sunrise Boulevard, Plantation, Florida 33322
• Contact Number: (786) 320-7111
• SEC Filing: This announcement was made via an official Form 8-K filing with the U.S. Securities and Exchange Commission, signed by Da-Wai Hu, General Counsel and Secretary.
• Stock Details: Chewy’s Class A common stock trades under the ticker “CHWY” on the New York Stock Exchange (NYSE).

Shareholder Action Recommended

Shareholders and potential investors should closely read the full Form 8-K filing for additional details and remain attentive to future Company communications regarding the implementation of the share repurchase program and any updates to its terms.

Disclaimer: This article is for informational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any securities. Investors should conduct their own research or consult with their financial advisors before making investment decisions. The information presented herein is based on the Company’s SEC filing as of April 8, 2026, and is subject to change without notice.

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