Billionaire Stephen Mandel’s Lone Pine Capital Initiates Stake in Lululemon Athletica Inc. (LULU)

Page 5 of 8 SEC Filing
Item 3. IF THIS STATEMENT IS FILED PURSUANT TO Rules 13d-1(b), OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
(a) ¨ Broker or dealer registered under Section 15 of the Act;
(b) ¨ Bank as defined in Section 3(a)(6) of the Act;
(c) ¨ Insurance company as defined in Section 3(a)(19) of the Act;
(d) ¨ Investment company registered under Section 8 of the Investment Company Act of 1940;
(e) ¨ An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) ¨

An employee benefit plan or endowment fund in
accordance with Rule 13d-1(b)(1)(ii)(F);

(g) ¨ A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);
(h) ¨

A savings association as defined in Section 3(b)
of the Federal Deposit Insurance Act;

(i) ¨

A church plan that is excluded from the definition
of an investment company under Section 3(c)(14) of the Investment Company Act;

(j) ¨ A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J);
(k) ¨ Group, in accordance with Rule 13d-1(b)(1)(ii)(K).

If filing as a non-U.S. institution in accordance
with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: ____________________

Item 4. OWNERSHIP

A. Lone Pine Capital LLC and Stephen F. Mandel,
Jr.

(a) Amount beneficially owned: 6,446,607 shares
of Common Stock

(b) Percent of class: 5.0%. The percentages set
forth in this Item 4 and in the rest of this Schedule 13G are based upon a total of 128,749,784shares of Common Stock reported to be outstanding by the Issuer as of December 3, 2015 in its Quarterly Report on Form 10-Q
for the quarterly period ended November 1, 2015 filed with the Securities and Exchange Commission on December
9, 2015.

(c)(i) Sole power to vote or direct the vote:
-0-

(ii) Shared power to vote or direct the vote:
6,446,607 shares of Common Stock

(iii) Sole power to dispose or direct the disposition:
-0-

(iv) Shared power to dispose or direct
the disposition: 6,446,607 shares of Common Stock

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