Climate Change Data

Environmental Metrics

ESG Focus Areas

• Efficiency and Environmental Responsibility
• Talent & Engagement
• Platform for Diverse Perspectives

Environmental Achievements

• Licensed a system to compile data on energy consumption across business activities to estimate GHG emissions.

Social Achievements

• Launched "Can We Talk?" initiative to increase cultural awareness and promote dialogue.
• Implemented "Conscious Inclusion" training for all full-time U.S. employees.
• More than 450 employees volunteered over 6,000 hours in 2022.
• More than 800 employees utilized the charitable matching program, benefiting over 1,000 organizations.

Governance Achievements

• Engaged an independent advisory firm to assist in developing and executing ESG strategy.
• Conducted a materiality assessment of relevant ESG risks and opportunities in 2021.

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions
• Macroeconomic factors affecting vehicle sales and audio advertising market

Mitigation Strategies

• Reinvesting in the business to compete effectively and adapt to changing consumer behavior
• Returning significant capital to stockholders while maintaining a strong balance sheet

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Efficiency and Environmental Responsibility
• Talent & Engagement
• Platform for Diverse Perspectives

Environmental Achievements

• Entered in agreements to invest in an industrial carbon capture and storage project that will generate an estimated $250 million in net after-tax cash benefits over a period of seven years.

Social Achievements

• Workplace was recognized for several awards this year, including Worklife 50, Crain’s Excellence in Diversity and Inclusion
• Through SiriusXM Cares, philanthropic efforts focused on initiatives and organizations that align with our values. Gave back to select Boys and Girls Clubs across the nation as a part of our celebration of hip hop’s 50th anniversary.
• Launched “Can We Talk?” initiative aimed at increasing cultural awareness and promoting dialogue and “Conscious Inclusion,” facilitator-led training required for all full-time U.S. based employees.
• Over 500 employees volunteered over 7,800 hours, and over 620 employees utilized our charitable matching program, benefiting more than 800 charitable organizations.

Governance Achievements

• Continued to evaluate and integrate ESG developments; refine the process for gathering GHG emissions data; enhance governance of ESG matters, including regular reviews of progress by the Nominating, Environmental, Social, and Governance Committee; and monitor relevant regulatory developments.

Climate Goals & Targets

Environmental Challenges

• Refining the process for gathering GHG emissions data.
• Maintaining revenue growth from our advertising products.
• Protecting the security of personal information about our customers.
• Managing the use of artificial intelligence in our business.

Mitigation Strategies

• Licensed a system that assists in compiling data related to the consumption of energy across business activities.
• Initiated work of analyzing Scope 3 GHG emissions.
• Implemented processes to assess, identify and manage material risks facing the company, including from cyber threats.
• Developed a robust cyber crisis response plan.
• Implemented a security awareness program including annual mandatory training for all employees.

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• Worklife 50
• Crain’s Excellence in Diversity and Inclusion

Environmental Metrics

ESG Focus Areas

• Diversity, Equity, and Inclusion
• Philanthropy
• Environmental, Social, and Governance (ESG) Reporting

Social Achievements

• Core voluntary full-time employee turnover rate of approximately 6.6% in 2024.
• 42.2% of employees identified as women and 40.4% identified as people of color as of December 31, 2024.
• Over 590 employees volunteered over 8,400 hours, and over 680 employees utilized our charitable matching program, benefiting more than 860 charitable organizations during 2024.

Governance Achievements

• Code of Ethics adopted and applies to all employees, including executive officers, and directors.

Climate Goals & Targets

Environmental Challenges

• Substantial competition in the audio entertainment market.
• Loss of SiriusXM subscribers and Pandora ad-supported monthly active users.
• Dependence on third parties for operations.
• Challenges in monetizing podcasts and non-music content.
• Risks associated with data and cybersecurity.
• Rapid technological changes and new entrants.
• Changing consumer behavior and new technologies.
• Significant indebtedness.
• Risks related to the transactions with Liberty Media.
• Potential for lawsuits related to the transactions.
• Potential conflicts of interest due to directors associated with Liberty Media.
• Protection of directors and officers from liability.

Mitigation Strategies

• Updated strategic plan focusing on core subscription business, advertising, efficiency, and stockholder returns.
• Introduction of new plans and pricing options to attract and retain subscribers.
• Extensive digital infrastructure update.
• Robust cyber crisis response plan and security awareness program.
• Ongoing monitoring of satellite infrastructure and technology improvements.
• Tax Sharing Agreement with Liberty Media to mitigate tax risks.
• Independent committee review of related party transactions.

Supply Chain Management

Climate-Related Risks & Opportunities