An Update on Our Growth Strategy

March 27, 2025: QVC Group today reorganized teams across our company as part of our strategy to grow by becoming a live social shopping company. Through our WIN growth strategy, we intend to increase revenue while maintaining adjusted OIDBA margin. We are pursuing three priorities:

• Wherever She Shops: Drive live shopping content to everywhere she spends her time
• Inspiring People and Products: Create the world’s leading live social shopping content engine, inspiring human connection with incredible finds
• New Ways of Working: Lean into technology and continuous improvement to fund expansion onto new platforms and into new audiences

As a result of this reorganization, we made the very difficult decision to eliminate a number of roles. In the U.S., this impacts approximately 900 team members across HSN, QVC US and our Global Shared Services. For many of these individuals, today will be their last day with QVC Group. Some will continue working with us for several months, mainly to support the transition of the HSN broadcast and the St. Petersburg campus.

In our international markets, we are proposing several organizational changes. We will be sharing the detail with potentially affected individuals and, where applicable, engaging in negotiations with relevant employee representation bodies, in accordance with local laws. If consultation processes are required in a QI market, no changes in that market will be effective until those processes are completed.

We are committed to supporting impacted team members through this transition with separation benefits and outplacement services. Our immediate focus is supporting those directly affected by these changes.