Dennis J. Wilson, together with the other participants named herein, intends to file a proxy
statement and accompanying GOLD universal proxy card with the U.S. Securities and Exchange Commission (the “SEC”) to be used to solicit proxies for the election of his slate of highly qualified director candidates at the 2026
annual meeting of shareholders (including any other meeting of shareholders held in lieu thereof, and any adjournments, postponements, reschedulings or continuations thereof, the “2026 Annual Meeting”) of lululemon athletica inc. (the
“Company”), and for the approval of a business proposal to be presented at the 2026 Annual Meeting.
On March 9, 2026,
Mr. Wilson, together with the other participants named herein, filed Amendment No. 14 to their Schedule 13D, which included the following update to Item 4 of Schedule 13D, regarding the launch of the campaign website,
CreativityFirstlulu.com, on March 5, 2026:
Item 4. Purpose of Transaction
Item 4 of the Schedule 13D is hereby amended and supplemented as follows:
On March 5, 2026, Mr. Wilson issued a press release, a copy of which is attached as Exhibit 99.1 to this
Amendment, announcing the launch of the campaign website CreativityFirstlulu.com (the “Creativity First lulu Website”). The Creativity First lulu Website sets forth certain steps that Mr. Wilson believes the Issuer should take to
restore investor confidence, including empowering creative leadership, rebuilding the knowledge and systems that can deliver products more quickly, avoiding chasing revenue at the expense of brand value, and recommitting to the Issuer’s
original muse. The Creativity First lulu Website also highlights Mr. Maurer, Ms. Gentile, and Mr. Hirshberg as the three highly qualified independent director candidates that Mr. Wilson has nominated for election to the Board at
the Annual Meeting. The information contained in Exhibit 99.1 of this Amendment is incorporated herein by reference.
CERTAIN INFORMATION
CONCERNING THE PARTICIPANTS
Mr. Wilson, together with the other Participants (as defined below), intends to file with the SEC a definitive proxy
statement on Schedule 14A (the “Definitive Proxy Statement”) and accompanying GOLD Universal Proxy Card to be used to solicit proxies from the shareholders of the Company in connection with the 2026 Annual Meeting.
SHAREHOLDERS OF THE COMPANY ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE
PARTICIPANTS HAVE FILED OR WILL FILE WITH THE SEC BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION, INCLUDING ABOUT THE MATTERS TO BE VOTED ON AT THE 2026 ANNUAL MEETING AND ADDITIONAL INFORMATION RELATING TO THE PARTICIPANTS AND
THEIR DIRECT OR INDIRECT INTERESTS, BY SECURITY HOLDINGS OR OTHERWISE.
The participants in the solicitation of proxies are Mr. Wilson, Anamered
Investments Inc., LIPO Investments (USA), Inc., Wilson 5 Foundation, Wilson 5 Foundation Management Ltd., Five Boys Investments ULC, Shannon Wilson, Low Tide Properties Ltd., House of Wilson Ltd., Marc Maurer, Laura Gentile, and Eric Hirshberg
(collectively, the “Participants”).
The Definitive Proxy Statement and accompanying GOLD Universal Proxy Card will be furnished to
some or all of the Company’s shareholders and will be, along with other relevant documents, available at no charge on the SEC’s website at https://www.sec.gov/.
Information about the Participants and a description of their direct or indirect interests, by security holdings or otherwise, is contained in an amendment to
Schedule 13D filed by the Participants with the SEC on March 9, 2026 and is available here. By virtue of the relationship among
the Participants as members in a Schedule 13(d) group, all the Participants, individually, are deemed to beneficially own the 9,904,856 shares of Common Stock of the Company, par value $0.005 (of which 5,115,961 are shares of the Company’s
special voting stock paired with an equal number of exchangeable shares of Lulu Canadian Holding, Inc., on a fully-converted basis) owned in the aggregate by all of the Participants.
