Best Buy Co., Inc.

Investor PresentationApril 2007

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 factorscould 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 5/10/06. 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.

Superstores FY07 End990 stores

Superstores Future1,200+ stores

Canadian Market Share Over 30%

Total U.S. Market Share

Canadian Market Store Presence

North American Leader

95121

47

FY02 FY07

Best Buy U.S. Market Share - Products

5%

15%11%

16%13%

7%

24%22%23%

20%

Total HomeTheater

Computing/Dig. Imag.

Music Appliances

2001 Market Share 2006 Market Share

5%

20%19%

13%14%

6%6%

7%

5%5%

0.0%

5.0%

10.0%

15.0%

20.0%

1997 1999 2001 2003 2004 2005 2006

Calendar Year

Based onCalendar Year

$35.9$30.8

$27.4$24.5

$20.9$17.7

FY02 FY03 FY04 FY05 FY06 FY07

($ in billions)Revenue Growth

History of Growth

$1.07 $1.11$1.44

$1.75

$2.27$2.79

FY02 FY03 FY04 FY05 FY06 FY07

Diluted EPS1

1 Pro-forma adjusted for FAS 123 expense

15% CAGR

21% CAGR

22%

17% 16%19% 20%

FY02 FY03 FY04 FY05 FY06

ROIC2

2Fiscal years 2002 thru 2005 have not been adjusted for FAS 123 expense

+5 Pts

FY07 Results

Total revenue growth 16%

Comp revenue growth 5.0%

Operating income % +23 bps

Diluted EPS growth 23%

U.S. Market Share 20%

• Revenue Up 9% to $39B

• Gross profit % Down 30 - 40 bps

• SG&A % Improve 60 - 70 bps

• Operating inc. % Improve 30 bps

• Diluted EPS $3.10 - $3.25

Fiscal 2008 Guidance1

1 As communicated on April 4, 2007

Average of 14% EPS Growth

Customer Centricity: Our Growth Lens

Invite Employee Ideas

Provide End-to-End Solutions

Honor Unique Customers

Customer Experience

Core B

usine

ss

New Customers & Formats

New Markets

• Full Solutions

• New Formats

• Private Label

• Services

• Customer Access: – In stores, online, over the phone, in home

Growth: Core Business

Vista• 24-Hour support• Geek Squad City• 60,000 trained Vista

experts (Blue-shirts and Geeks)

• In-store tutorials• In-home set-up and new

PC data transfer

Growth: Core Business

Home Theater• 3,000 HT Installers• HD Done Right

– Installations up– Returns down

• Customer Satisfaction Up

Fiscal 2008: Domestic New Store Opening Plans

# of NewStores % Change

Sq. Ft. %Change

~ 90 +11% +9%

Up to 5Up to 35%

Up to 36%

Fiscal 2008 store expansion plans announced on February 21, 2007

Business

High-end

Others?

Growth: New Customers

#1 with 20% Market Share

Growth with New Formats

• Canada

• China

• United Kingdom

Growth: New Markets

Fiscal 2008: International New Store Opening Plans

Country# of NewStores % Change

Sq. Ft. % Change

Canada 6 – 7 +5% +6%

Canada 6 – 7 +14% +12%

China 20 – 23 +16% +16%

China 2 – 3 +>200% +145%

Chinese Retail Environment

• Different retail experience versus the U.S.• Consumer behavior is rapidly changing• China has 176 cities with >1M

people…North America has 9 cities• Multi-pronged approach to the market

– Five Star, a traditional electronics player– Best Buy, with a U.S.-like business model– Potential opportunities in services, dot com

• Third-largest appliance and consumer electronics retailer

• BBY acquired a 75% interest in June 2006

• 2006 CY revenue of ~$0.9 billion (USD)1

• Strong existing management team remains intact

Five Star

1 Represents revenue for the entire calendar year including the portion of the year not under Best Buy ownership

Best Buy China

• 86,000-square-foot store in Times Squareof Shanghai

• Opened on December 28, 2006

• Consumer research is leading the way

• Goal is an improved retail experience for the Chinese consumer

International Priorities

• Leverage our strengths

• Focus on large, growing and “optimistic” economies– Announced tests in

Mexico and Turkey

• Approach:– Dream big– Start small– Learn fast– Scale profitably

72 72

71

76

2003 2004 2005 2006

BBY: Customer Satisfaction

#1 Driver of Improvement: Quality of Interaction with

Employees

Source: American Customer Satisfaction Index Fourth Quarter Scores – 2/20/07 (www.theacsi.org)