Climate Change Data

Environmental Metrics

ESG Focus Areas

• environmental matters
• health and safety
• social responsibility
• governance
• sustainability

Environmental Achievements

• total GHG emissions of 101,805 metric tons of carbon dioxide equivalent (CO2e), reflecting an intensity of 22.7 (metric tons of CO2e, divided by net sales in millions), which is over 40% lower than when initially reported in 2008

Social Achievements

• supports upskilling the workforce through collaborations with Career and Technical Education (CTE) schools across the United States and throughout the world, and with SkillsUSA and World Skills to engage youth in order to enable and promote technical careers
• is a founding partner of the National Coalition of Certification Centers (NC3), which aims to more effectively match technical school curricula with the precise needs of the current and future workplace by developing, implementing, and sustaining industry-recognized certifications with programs in automotive, aviation, energy, oil and gas, manufacturing and other critical industries. To date, over 250,000 students have earned Snap-on certifications, preparing them for successful and satisfying careers across various technical disciplines

Governance Achievements

• The ESGC reports to the company’s 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.

Climate Goals & Targets

Environmental Challenges

• inflation, interest rate changes and other monetary and market fluctuations
• price and supply fluctuations related to raw materials, components and certain purchased finished goods, such as steel, plastics, and electronics
• the effects of external economic factors, including adverse developments in world financial markets, disruptions related to tariffs and other trade issues, and global supply chain inefficiencies, including as a result of the current war in Ukraine
• Snap-on’s ability to successfully manage changes in prices and the availability of energy sources, including gasoline
• Snap-on’s ability to withstand disruption arising from natural disasters, including climate-related events or other unusual occurrences
• risks associated with data security and technological systems and protections, including the effects of cyber incidents and from new legislation, regulations or government-related developments
• the impact of labor interruptions or challenges, and Snap-on’s ability to effectively manage human capital resources
• Snap-on’s ability to successfully manage planned facility closures or to withstand disruptions from unexpected closures
• weakness in certain geographic areas, including as a result of localized recessions, and the impact of matters related to the United Kingdom’s exit from the European Union
• changes in tax rates, laws and regulations as well as uncertainty surrounding potential changes
• the amount, rate and growth of health care and postretirement costs, including continuing and potentially increasing required contributions to pension and postretirement plans
• the effects of new requirements, legislation, regulations or government-related developments or issues, as well as third party actions, including those addressing climate change
• potential reputational damages and costs related to litigation
• the impact of the ongoing coronavirus (“COVID-19”) pandemic and other outbreaks of infectious diseases, as well as the effects of governmental actions related thereto on Snap-on’s business, which could have the potential to amplify the impact of the other risks facing the company

Mitigation Strategies

• Snap-on endeavors to employ its RCI processes to improve efficiencies and reduce waste to minimize the impact of any cost increases
• continues to invest in data security and address these risks and uncertainties by implementing security technologies, internal controls, network and data center resiliency, and redundancy and recovery processes, as well as by securing insurance
• has taken steps to ensure access to raw materials, components and purchased finished goods, and to provide for counterbalancing price and efficiency offsets
• Snap-on has taken steps to control and offset associated cost increases through its supply chain management, pricing actions, and deployment of Rapid Continuous Improvement (“RCI”)

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct
• 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

Climate-Related Risks & Opportunities

Physical Risks

• natural disasters, weather events

Transition Risks

• changes in government policies and regulations, including those intended to address climate change

Reporting Standards

Frameworks Used: SASB

Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018

Third-party Assurance: Det Norske Veritas (DNV) Certification, Inc

Environmental Metrics

ESG Focus Areas

• Energy management
• Employee health and safety
• Material management

Environmental Achievements

• Total Scope 1 and Scope 2 GHG emissions of 99,021 metric tons of carbon dioxide equivalent (CO2e) reflected an intensity of 20.9 (metric tons of CO2e, divided by net sales in millions).

Social Achievements

• Overall safety incident rate of 1.16 (number of injuries and illnesses multiplied by 200,000, divided by hours worked) in 2023.
• Company-wide training on inclusion and unconscious bias.
• Expanded internship, mentorship and recruitment activities for underrepresented groups.
• Partnerships with national nonprofit organizations and community colleges to leverage career and technical education to expand opportunities for underrepresented groups.

Governance Achievements

• Adopted a Clawback Policy for Erroneously Awarded Compensation, effective for specified compensation received on or after October 2, 2023.

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: SASB

Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed