Dollar Tree, Inc. (NASDAQ:DLTR) (the "Company" or "Dollar Tree") today announced that certain funds affiliated with Mantle Ridge LP ("Mantle Ridge") and a selling stockholder that is counterparty to derivative agreements with affiliates of Mantle Ridge (collectively, the "Selling Stockholders") have launched a secondary block trade (the "block trade") to sell 12,820,400 shares of the Company’s common stock (the "common stock") to J.P. Morgan and Goldman Sachs & Co. LLC (collectively, the "broker-dealers"). Mantle Ridge’s sale was made pursuant to Rule 144 under the Securities Act of 1933, as amended. The Company is not selling any shares in the block trade and will not receive any direct proceeds from the sale by the Selling Stockholders.

Subject to the completion of the block trade, the Company will repurchase from Goldman Sachs & Co. LLC $500 million of common stock at a per share price equal to the price per share payable by the broker-dealers in the block trade. The Company expects to fund the share repurchase from cash on hand.

The Company’s decision to repurchase its shares is consistent with management's stated intent regarding potential uses of cash flow. The repurchase is pursuant to and will count toward the Company’s existing $2.5 billion share repurchase authorization announced on July 9, 2025. Michael C. Creedon, Jr., Chief Executive Officer, stated "This share repurchase reflects our commitment to disciplined capital allocation and our confidence in the long-term outlook for Dollar Tree. Our priority remains investing in initiatives that drive sustainable growth across the business, while maintaining a strong balance sheet and thoughtfully returning excess capital to shareholders."