Hasbro, Inc. ($HAS)

Hello, and welcome to Hasbro's 2026 Annual Meeting of Shareholders. Please note that today's meeting is being recorded. It is now my pleasure to turn today's meeting over to Richard Stoddart, Chair of the Board of Directors of Hasbro. Mr. Stoddart, the floor is yours.

Good morning, ladies and gentlemen. I'm Rich Stoddart, the Chair of the Board of Directors of Hasbro. It's my pleasure to welcome you to Hasbro's 2026 Annual Meeting of Shareholders. We are holding today's meeting as a live virtual webcast. I will act as the Chair of the meeting. The time is now 11:00 a.m. Eastern Time on June 11, 2026, and I hereby call this meeting to order. Matt Gilman, Senior Vice President, Legal and Assistant Secretary, will act as Secretary of this meeting, and with me will conduct the formal meeting today. We also have members of our Board of Directors and executive team attending our meeting today as well as Danielle Mann of Computershare Trust Company, our independent Inspector of Election; and representatives from KPMG LLP, our independent public accounting firm. Before we begin, I would like to take a moment to recognize and thank Mary Beth West for her significant contributions to the Board and the company throughout her tenure on the Board. Mary Beth will be retiring from the Board at the meeting. Mary Beth has been a true leader on the Board and her experience and expertise has provided great value to Hasbro during its transformation. We will miss her and wish her all the best in her future endeavors. Thank you, Mary Beth. In order to ensure that the business of the meeting proceeds in an orderly fashion, we ask that you please observe the rules of conduct for the meeting, which may be accessed on the virtual meeting website. We do not expect any technical difficulties today. However, in the event we lose our webcast connection or otherwise experience technical difficulties, please allow for some time for these difficulties to be resolved. Our operator may also provide updates through the phone bridge. This annual meeting is being held in accordance with Rhode Island Law and the company's organizational documents. During the meeting, we will address the matters described in the company's proxy statement dated April 17, 2026. Notice of the annual meeting was distributed to all shareholders as of the record date for this meeting on or about April 17, 2026. We will give a short business presentation and hold a question-and-answer session after we have concluded the formal part of our meeting. Questions or comments must comply with the rules of conduct for the meeting. Shareholders can submit questions at any time by entering their question into the Q&A icon at the top of your screen.

The Inspector of Election has in her possession a list of the company's shareholders of record as of the record date. A list of the company's shareholders as of the record date is also available at the meeting website for examination by any shareholder present and by any proxy holder who is representing a shareholder. We have been advised by the Inspector of Election that a quorum is present at this time.

Thank you, Matt. We will now take up the formal business of this meeting. I now declare the polls open for each matter to be voted upon today. You may vote until I announce that the polls are closed. Matt will now briefly describe the voting procedures and the items of business to be acted upon at today's meeting.

Shareholders of record, legal proxy holders who preregistered for the meeting and beneficial holders who have a control number may vote during the meeting by clicking on the voting link located on the top right of the virtual meeting website. If you have already submitted a proxy to vote your shares, you do not need to vote by ballot unless you want to change or revoke your vote. Voting by ballot at this meeting revokes any prior proxy you may have submitted. Remember, you must submit your completed ballot before the polls close in order for it to be counted. There are 3 items of business that may be properly acted upon at the meeting. The first item of business is the election of directors. As indicated in the company's proxy statement at today's meeting, 11 directors will be elected to serve on the Board until the 2027 Annual Meeting of Shareholders and until their successors are duly elected and qualified or until their earlier death, resignation or removal.

Our Nominating, Corporate Governance and Social Responsibility Committee has recommended and our Board has approved and hereby nominates Douglas Bowser, Hope Cochran, Chris Cocks, Lisa Gersh, Frank Gibeau, Elizabeth Hamren, Darin Harris, Owen Mahoney, Laurel Ritchie, Richard Stodartt and Carla Vernón as nominees for election as directors at this meeting. All of the company's nominees have been duly nominated. The company has not received valid notice of any other nominees. I hereby declare the nominations closed.

The second item of business is an advisory vote to approve the compensation of the company's named executive officers. And the third item of business is to ratify the selection of KPMG as the company's independent registered public accounting firm for fiscal year 2026.

Our Board of Directors has unanimously recommended that you vote for all of the Board's director nominees and for all of the other proposals. Our proxy statement for this meeting contains information about each proposal. If you have already voted, there is no need to vote again today unless you wish to change your vote. If you are voting today, you must submit your votes at this time in order for them to be counted by the Inspector of Election. The Inspector of Election will not accept ballots, proxies or votes or any changes or revocations thereof submitted after the closing of the polls. We will pause for a moment to give anyone a final chance to vote. [Voting]

The polls for each matter to be voted on at this meeting will close shortly. It is now 11:07 a.m. Eastern Time, and the polls for each matter to be voted on this meeting are now closed.

Based on preliminary tabulation by the Inspector of Election, each of the company's director nominees has been elected to serve on the Board until the company's 2027 Annual Meeting of Shareholders. The advisory vote to approve the compensation of the company's named executive officers has been approved and the proposal to ratify the selection of KPMG as the company's independent registered public accounting firm for fiscal year 2026 has also been approved. The final results will be reported in a current report on Form 8-K that the company will file with the SEC. This concludes the formal business of today's meeting. Now we would like to proceed with a business presentation by our CEO, Chris Cocks, and we will then answer questions. Let me first remind you of our safe harbor and the fact that we will make some forward-looking statements, and our actual results may differ materially from those forward-looking statements. For a discussion of these factors, I encourage you to look at the risk factors discussed in our SEC filings. As a reminder, if you have any questions, you may submit them by clicking on the Q&A tab on your screen.

Thanks, Matt, and good morning, and thank you to everyone for joining us. When we introduced our Play to Win strategy, we said Hasbro's future would be built around 2 enduring strengths: the power of play and the strength of partnership. Over the past year, we've demonstrated that strategy is working. 2025 was a year of meaningful progress. We returned Hasbro to growth, expanded margins, delivered record profitability and continue transforming the company into a more focused, franchise-driven organization. More importantly, we built momentum that is continuing into 2026. Today, Hasbro is operating from a position of strength. We have one of the world's most valuable portfolios of play and entertainment IP, deep strategic partnerships and talented teams executing with greater speed, creativity and discipline. You can see that momentum clearly at Wizards of the Coast. MAGIC: THE GATHERING continues to perform at an exceptional level. Strong player engagement, successful new releases, expanding organized play and Universes Beyond collaborations are driving growth across tabletop, digital and live experiences. Our strategy is straightforward, create multiple ways for fans to engage with MAGIC while continuing to expand the audience globally. That strategy is working, and we remain confident in MAGIC's long-term growth potential. Consumer products is also showing momentum as we focus investment behind higher-growth categories and franchise-led innovation. Our strategy is centered around a concept we call GEM Squared, categories that are gamified, entertainment-driven, multi-purchase and multigenerational. These categories consistently outperform the broader toy industry and align directly with Hasbro's strength. At the same time, we continue evolving Hasbro into a broader play and IP company, reaching consumers not only through toys and games, but also through digital gaming, licensing, live experiences and storytelling. Partnerships remain foundational to Hasbro, and we continue to expand our ecosystem across both owned and partner brands. Within Wizards, our Universes Beyond slate continues to demonstrate the power of combining great gameplay with beloved global IP. In toys, we secured several important new licenses, including Kpop Demon Hunters and Harry Potter, while continuing to work with our long-time partners at The Walt Disney Company. This evolution is helping create a more diversified business with deeper consumer engagement and long-term opportunities. Looking ahead, our priorities are clear: continue scaling Wizards of the Coast in digital gaming, drive profitable growth in consumer products, expand strategic partnerships and unlock the full value of Hasbro's IP across every platform where fans engage. We believe Hasbro is uniquely positioned at the intersection of play, fandom and storytelling. Our brands now reach more than 1 billion kids, families and fans every year. Our partnerships continue to expand. Our digital capabilities are growing, and our teams are executing with a clear strategy and long-term mindset. To our shareholders, thank you for your continued support and confidence. We are excited about the road ahead. Thank you. And with that, we'll take your questions.

We will now open the meeting for questions from shareholders. Again, we will continue to observe the rules of conduct for the meeting as posted on the virtual meeting website. Shareholders may submit questions during the meeting by clicking on the Q&A tab at the top of your screen and typing in your question. Let me take a moment to check with Fred Wightman, our Vice President of Investor Relations and Corporate Development, to see if there are any questions. Fred, do we have any questions?

Rich, there are no questions.

As there are no questions, I'd like to thank you for attending today's meeting and for your ongoing support of Hasbro. I declare that the 2026 Annual Meeting of Shareholders is hereby adjourned.

The meeting has concluded. You may now disconnect.