KIMBERLY CLARK CORP

This section contains only selected information. Stockholders should review the entire Proxy Statement before casting their votes.

Our Board Nominees

We believe our director nominees collectively possess the necessary experience and attributes to effectively guide our company.

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Board Snapshot

Skills and Experience

• A = Asian; B = Black/African American; H = Hispanic/Latino; W = White; O = Other (Middle Eastern)

For more information, see “Key Director Experience Attributes” on page 28.

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Service on Other Public Boards

Under our Corporate Governance Policies, directors should not serve on more than four public company boards (including the Kimberly-Clark Board). The Board has reviewed the number of outside directorships held by directors and determined that all directors are in compliance. In addition, when nominating a director for service on the Board or for re-election, the Board considers whether, in light of other commitments (including public company board leadership positions), the nominee will have adequate time to serve as a director of Kimberly-Clark.

Governance Highlights

The Corporate Governance section beginning on page 11 describes our strong governance framework, which includes:

Stockholder Engagement

In 2025, we continued our focus on regularly engaging with investors to understand their perspectives on a variety of topics. This process helps ensure that management and the Board understand and consider the issues that matter most to our stockholders and enables us to address them effectively. We reached out to stockholders representing approximately 57 percent of our common stock and engaged with stockholders representing approximately 34 percent of our common stock. We discussed many key topics, including our approach to director refreshment, our corporate governance practices, significant enhancements to our corporate social responsibility and sustainability disclosures and our executive compensation program, as well as the pending Kenvue acquisition after our announcement in November 2025.

Investors continued to express broad support for our governance structures and executive compensation program and shared their views on matters related to shareholder rights and our independent, well-qualified Board. Further, investors highlighted the importance of continuing our ongoing engagement with them on corporate social responsibility and sustainability initiatives. Our corporate governance profile, executive compensation programs, and sustainability initiatives reflect the input of stockholders from our outreach efforts.

Sustainability

Sustainability is a key part of our company and by 2030 we aspire to advance the well-being of one billion people through social programs and reduce our environmental footprint by half. We focus on the areas most relevant to our business and where we believe we can have the biggest impact – climate, forests and biodiversity, water, and plastics.

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Each year, we publish a Global Sustainability Report outlining our key strategies, initiatives, and results in greater detail. Our report includes an addendum of material organized and presented in accordance with the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) Standards, which can be found on our website atwww.kimberly-clark.com/esg. We also publish a Task Force on Climate-related Financial Disclosures (TCFD)-aligned disclosure to enhance visibility to our climate risks and opportunities. Within our disclosure, we cover TCFD’s four core areas: governance, strategy, risk management, and metrics and targets. As part of our commitment to building a diverse workforce, we have adopted the practice of disclosing our annual EEO-1 data on the Sustainability section of our website after our submission of the corresponding report to the U.S. Equal Employment Opportunity Commission.

Our Nominating and Corporate Governance Committee of the Board maintains a standing Sustainability Subcommittee to support the Committee in executing its oversight responsibilities for matters relating to sustainability, corporate social responsibilities, and corporate citizenship and as we continue to incorporate related risks and opportunities into the Board’s overall strategic decision-making. The Sustainability Subcommittee is chaired by independent director Dr. Mae Jemison.

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Principal Accounting Firm Fees

Our aggregate fees to Deloitte (excluding value added taxes) with respect to the fiscal years ended December 31, 2025 and 2024, were as follows (dollars in millions):

(1)These amounts represent fees billed or expected to be billed for professional services rendered by Deloitte for the audit of Kimberly-Clark’s annual financial statements for the fiscal years ended December 31, 2025 and 2024, reviews of the financial statements included in Kimberly-Clark’s quarterly reports on Form 10-Q, and other services that are normally provided by the independent registered public accounting firm in connection with statutory or regulatory filings or engagements for each of those fiscal years. These amounts also include fees for an audit of internal control over financial reporting pursuant to Section 404 of the Sarbanes-Oxley Act of 2002.

(2)These amounts represent aggregate fees billed or expected to be billed by Deloitte for assurance and related services reasonably related to the performance of the audit or review of our financial statements, that are not included in the audit fees listed above. These services include engagements related to employee benefit plans, attest services (including for voluntary environmental, social, and governance reporting), assistance with and review of SEC filings, due diligence and accounting consultation in connection with acquisitions and dispositions, and other matters.

(3)These amounts represent Deloitte’s aggregate fees for tax compliance, tax advice and tax planning for 2025 and 2024. Approximately $0.1 million was for tax compliance/preparation fees in 2024.

(4)These amounts represent all other fees for products and services provided by Deloitte and not included in audit fees, audit-related fees, and tax fees above.

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2025 Performance and Compensation Highlights

Management did not achieve its financial targets for 2025, mostly due to a more challenging macro environment, pricing pressures, and higher input cost inflation including tariffs. Management nevertheless continued to make good progress executing our strategies for our long-term success. 2025 compensation outcomes as described in the Compensation Discussion & Analysis beginning on page 50 reflect the program’s pay and performance alignment. Despite management’s continued progress executing our strategies for our long-term success during the year, after concluding that management did not achieve its financial or non-financial targets for 2025, the Management Development and Compensation Committee determined to not make adjustment to the annual incentive outcomes, which paid out below target.

Organic sales growth, a non-GAAP measure, consists of net sales growth excluding the impact of currency translation and divestitures and business exits. Adjusted EPS, a non-GAAP financial measure, consists of diluted earnings per share adjusted for certain items that management or the Committee do not believe reflect our underlying and ongoing operations. For details on how these measures are calculated, see “Compensation Discussion and Analysis - Executive Compensation for 2025, 2025 Performance Goals, Performance Assessments and Payouts” and Appendix A.

The chart at left shows the Total Shareholder Return for Kimberly-Clark, our Executive Compensation Peer Group (taken as a whole), and the S&P 500 for the previous five years, which reflects the value returned to our stockholders.

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Compensation Governance Highlights

Our compensation program for executive officers is designed to emphasize performance-based compensation in alignment with our business strategy.