Snap-on Inc

Snap-on is committed to conducting business and making decisions honestly, ethically, fairly and within the law, and is guided by the Company’s “Who We Are” mission statement, which is translated into multiple languages and prominently displayed in its facilities around the world. Snap-on is dedicated to earning and keeping the trust and confidence of its shareholders, customers, franchisees, distributors, retirees and associates, as well as of the communities where the Company does business. Snap-on’s Code of Business Conduct and Ethics provides guidelines and a framework for conducting business in an ethical manner. These beliefs go beyond Snap-on and are expected of our suppliers as detailed in the Company’s Supplier Code of Conduct. Snap-on has adopted policies that seek to eliminate human trafficking, slavery, forced labor and child labor from its global supply chain, and has formalized its commitment to protecting human rights in the Company’s Human Rights Policy.

For over 105 years, Snap-on has remained steadfast in connecting with customers, the people of work, and in creating products that solve the most critical tasks. The Company’s offerings serve these professionals and society by providing productivity-enhancing solutions that are integral to the repair and maintenance of the equipment and systems that move our world forward, potentially prolonging useful lives and extending the replacement cycle. Snap-on prioritizes continuous improvement in all facets of its operations, including environmental matters and health and safety. The Company strives to protect environmental quality and human welfare in its workplaces and communities by implementing sound policies designed to prevent, mitigate and reduce Snap-on’s impact on the environment. Our commitment reaches into all aspects of our operations, product development and supply chain, and is intended to promote sustainability.

The internal Environmental, Social and Governance Committee (“ESGC”) supports the Company’s ongoing commitment to the environment, health and safety, social responsibility, governance and sustainability (collectively, “ESG”). The ESGC is a cross-functional management committee assigned to focus on: (i) maintaining a framework for addressing ESG matters and recommending general strategy relating to such matters; (ii) advising on policy development to implement the approved strategy, and recommending appropriate methods to monitor resulting initiatives; (iii) coordinating and facilitating communications with business and operating units, employees, investors and stakeholders with respect to ESG matters; and (iv) monitoring and assessing developments relating to ESG matters. The ESGC, which is currently chaired by the Vice President, ESG and Strategic Sourcing, reports to the Chief Executive Officer and updates the Corporate Governance and Nominating Committee about its plans and actions at least two times per year. The full Board has ultimate oversight of the Company’s strategy related to ESG matters and receives regular reports on the subject from the Corporate Governance and Nominating Committee.

Feedback on the evaluation of risks and/or opportunities related to ESG matters identified by the ESGC and by the Company’s operating units is included and discussed as part of the Company’s quarterly operations reviews with senior management.

Snap-on’s sustainability framework is focused on key areas impacting our industry, including energy management, employee health and safety, and material management, and is aligned with the principles of the International Financial Reporting Standards Foundation (formerly known as the Sustainability Accounting Standards Board or “SASB,” which has been consolidated into the International Financial Reporting Standards Foundation).

Below is a discussion of the pillars of Snap-on’s sustainability commitment: