2021 ENVIRONMENTAL SOCIAL&GOVERNANCE REPORTEnvironmental 11Advancing Climate and Sustainability Sol.
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INVESTOR RELATIONS2021 BUSINESS PROFILEMarch 2021UNCLASSIFIED(PUBLIC)THE GLOBAL LOGISTICS POWERHOUSE.
2022-03-13
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Bring digital to every person,home and organization for a fully connected,intelligent worldHuawei Investment&Holding Co.,Ltd.2021 Sustainability ReportHuawei Investment&Holding Co.,Ltd.2021 Sustainability Report /01 Who is Huawei?Founded in 1987,Huawei is a leading global provider of information and communications technology(ICT)infrastructure and smart devices.We have 195,000 employees and we operate in over 170 countries and regions,serving more than three billion people around the world.We are committed to bringing digital to every person,home and organization for a fully connected,intelligent world.(For more details,please check the Huawei 2021 Annual Report at https:/ ProfileEvery year since 2008,Huawei Investment&Holding Co.,Ltd.(Huawei,the company,or we)has voluntarily released annual sustainability reports and disclosed our sustainability performance as we believe that doing so facilitates communication,awareness,and interaction with our stakeholders and makes Huawei more transparent.This report covers all entities that Huawei either has control of,or a significant influence over,in terms of financial and operational policies and measures.The scope of the entities covered in this report is consistent with the scope of organizations discussed in the Huawei 2021 Annual Report.Unless otherwise specified,this report describes the economic,environmental,and social performance of Huawei and its subsidiaries worldwide during the reporting period from January 1,2021 to December 31,2021.All data contained herein is derived from Huaweis official documents and statistical reports.For details about the economic data in the report,refer to the Huawei 2021 Annual Report.The report is prepared in accordance with the Global Reporting Initiative(GRI)Standards(Core option).Huawei engaged SGS,an external assurance provider,to verify the reliability,fairness,and transparency of this report and to issue an independent assurance statement(see Appendix IV).Report ProfileAs an independent record of sustainability,this report is published online and in print in both Chinese and English in July 2022.(The report for 2020 was published in July 2021.)You can view the 2021 Sustainability Report at by scanning the following QR code.For any report-related questions or suggestions,please contact:Tel: 86(0)755 2878 0808E-mail:02/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportThroughout human history,our ability to imagine a world beyond the status quo has been the driving force behind all development and progress.We made agricultural tools to carve out a permanent place for ourselves in the natural world,and developed machines to cast off the fetters of backbreaking manual work.We are now gathering oceans of data to drive progress towards a fully connected,intelligent world.Our imagination drives advancement in technology,leading to an abundance of new applications that spur the need to learn and grow,which in turn reinvigorates our imagination.Right now,digital technology is reshaping the world.They are playing a role in every aspect of our work and life.Next-generation digital technologies like 5G,AI,and cloud computing are converging rapidly,laying the groundwork for a booming digital economy.Green development is also gaining traction,promoting low-carbon lifestyles and production models.As digital and green technologies converge,they will create tremendous opportunities and drive social progress.A greener intelligent world is fast approaching,but the road ahead is not smooth.The global digital skills gap is widening,which hinders innovation and socioeconomic growth.To bridge this gap,we need to cultivate more digital talent and enhance digital literacy.Developing digital talent for a stronger digital economyDigital literacy is essential for advancing the digital economy.The United Nations has designated education as a basic right,and as the world grows more digital than ever,the ability to access and use technology is an inextricable element of that right.Recognizing this,countries around the world are actively exploring the best ways to cultivate digital talent and enhance digital literacy.The EU has developed the 2030 Digital Compass plan,aiming to train 20 million ICT specialists and equip 80%of adults with basic digital skills by 2030.Japan has launched the Digital New Deal,which aims to provide every student in elementary and high schools across the country with a computer by 2024 to help them begin developing digital skills at an early age.And China has announced its 14th Five-Year Plan on Digital Economy Development,which will bolster digital education to improve nationwide digital literacy and skills so as to drive the digital economy forward.Digital skills are key to coordinating efforts to develop the digital economy,and countries that are not able to make full use of their data will be on the back foot.According to the EUs Digital Economy and Society Index,more than 37%of workers in the EU lack basic digital skills.Germany,for example,is projected to have a deficit of 4.9 million digital workers by 2030.In China,eight out of every nine ICT jobs are currently unfilled.It currently has a shortage of 12 million ICT workers,including nine million in emerging fields like AI,cloud computing,and big data.As a tech company,Huawei is willing to do its part to help bridge the digital gap in the ICT sector.We are working with our partners worldwide to develop a more robust digital talent ecosystem and share ICT knowledge and skills.We firmly believe that open collaboration leads to shared success.We have embedded sustainability into all of our corporate strategies,transformation management,and business processes.Through nonstop innovation,we are working with our partners worldwide to cultivate digital talent,bridge the digital divide,and push the digital economy forward.Developing Digital Talent and Enhancing Digital Literacy for a More Sustainable World-Liang Hua-Chairman of the BoardHuawei Investment&Holding Co.,Ltd.2021 Sustainability Report /03 In 2008,we launched a program called Seeds for the Future to support the cultivation of local digital talent in communities around the world.This initiative later branched out into other development programs,including technology competitions,dedicated scholarship programs,the Huawei ICT Academy,Huawei Developers Training,and the Huawei Cloud Developer Institute.So far,we have invested more than US$150 million in these programs,helping more than 1.54 million people from over 150 countries boost their digital skillsets.In 2021,we launched the Seeds for the Future 2.0 program,which is part of our ongoing efforts to help cultivate broader swaths of digital talent.We will invest US$150 million in this program over the next five years,and we expect these efforts to benefit over three million more people.Moving forward,we hope more people and organizations will join our TECH4ALL initiative to support more inclusive development of digital talent around the world.Improving digital skills in remote areasCOVID-19 has had a profound impact on our world.And while many people benefit from digital connectivity in all aspects of work and life,the pandemic has widened the gap between the haves and have nots,further exacerbating the digital divide and digital poverty.According to the GSMAs Mobile Economy Report 2022,only 6%of the worlds population live in areas without mobile network coverage.Although the pandemic has increased the frequency of Internet use for many,the usage gap people who have coverage but arent using the Internet remains.In 2021,the usage gap was 3.2 billion people,or 41%of the worlds population.Needless to say,we still have a long way to go before secure and quality Internet connections are affordable and accessible to all.For more than 30 years,we have committed ourselves to pushing the boundaries of ICT and promoting its global adoption.We have worked closely with carriers worldwide to build over 1,500 networks,connecting more than three billion people in more than 170 countries and regions.Huawei supports inclusive development and is working to drive broader digital inclusion through our targeted TECH4ALL program.We want to bring the benefits of digital technology to everyone.As of the end of 2021,our TECH4ALL program has helped more than 110,000 people,including teachers and students from over 400 schools,as well as unemployed young people,learn new digital skills and improve their scientific and technological literacy.In addition to digital skills,making technology more accessible and available is an important part of these efforts.Each month,the accessibility functions on Huawei devices allow more than 4.4 million visually impaired users and over 800,000 hearing impaired users to use digital technology more seamlessly.And our RuralStar base station solutions have helped connect 60 million people in remote areas in more than 70 countries.Huawei is committed to open collaboration.We are actively sharing the know-how,technical capabilities,and best practices that we have built up over the years with people around the world.Together with industry partners and educational institutions,we are creating an open talent ecosystem that thrives on shared success.This is part of our commitment to giving back to local communities and creating new economic opportunities.In addition to promoting digital inclusion,were also doing our best to protect the planet.We are actively innovating to conserve energy,reduce environmental impact,and build a greener,low-carbon,and fully connected world for future generations.We embed sustainability into the entire lifecycle of our products.We will continue to invest heavily in areas like raw materials,production processes,algorithms,and cooling technologies that reduce the environmental impact of digital infrastructure.This will allow us to build more energy-efficient 5G networks,greener data centers,and eco-friendly electronics.In the meantime,cyber security and privacy protection remain our top priorities.We will continue to communicate and collaborate with all stakeholders in a trustworthy,open,transparent,and responsible manner.Together,we can more effectively address shared challenges in security and trustworthiness through innovation,unified standards,and improved governance.In 2021,we continued to advance our Software Engineering Capability Enhancement Transformation,incorporating it into our Integrated Product Development process to create more efficient and trustworthy R&D environments.By doing so,we hope to build trustworthy and quality products to ensure that both our processes and results are trustworthy,and that all necessary measures are taken to mitigate vulnerabilities and risks.Our ultimate purpose is to help customers build secure and resilient networks and create a greener,more secure,and more sustainable digital world.A greener intelligent world is just around the corner.The digital transformation of industries,as well as green and low-carbon development,all rely on digital talent,so enhancing digital literacy is key.We firmly believe that open collaboration leads to shared success.We have embedded sustainability into all of our corporate strategies,transformation management,and business processes.Through nonstop innovation,we are working with our partners worldwide to cultivate digital talent,bridge the digital divide,and push the digital economy forward.The road ahead is long and hard.But no matter how bumpy that road may be,we will stay the course.Huawei is committed to bringing digital to every person,home and organization for a fully connected,intelligent world.A Message from the Chairman of the Board04/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportThe digital economy is an engine of global economic growth in todays world.New digital technologies,such as 5G,cloud computing,big data,and artificial intelligence,are reshaping the way we work and live.We believe that all innovations and inventions share the same mission:to make the world a better place.It is this belief that drives us to continue advancing our four sustainability strategies:Digital Inclusion,Security and Trustworthiness,Environmental Protection,and a Healthy and Harmonious Ecosystem.Together with our partners,we are building a better,intelligent world.Technology for a more inclusive societyThe beauty of technology lies in its potential to benefit all and ensure no one is left behind in the digital world.That is why Huawei launched the TECH4ALL initiative,through which we work with partners to drive digital inclusion in four key areas:education,environment,health,and development.By the end of 2021,we have used digital technology to roll out our education programs,including DigiTruck and DigiSchool,in more than 400 schools,driving equality and quality in education.Over the past year,we have helped 32 protected areas in 25 countries protect biodiversity more efficiently.We have also developed numerous products and services that offer accessibility features for vulnerable groups such as the visually impaired,hearing impaired,and the elderly.Each month,more than 4.4 million visually impaired people and 800,000 hearing impaired people use the accessibility features on Huawei devices to benefit from an increasingly digital world.As part of our commitment to bridging the digital divide in remote areas,we have deployed our RuralStar series solutions in more than 70 countries,connecting 60 million people worldwide.We also use ICT to enable industries to go digital,make production safer and more efficient,and create better working environments for employees.For example,5G-powered smart factories allow steelworkers to work in air-conditioned rooms,smart coal mines enable miners to wear suits at work,and smart ports protect crane operators from serious neck issues.Technology for more secure,reliable communicationsDigital technology can enrich communications and life and promote economic development.However,its growing adoption also brings challenges to cyber security and privacy protection,both of which remain a top priority at Huawei.We strive to develop secure and trustworthy products,solutions,and services that will allow every individual to enjoy a better life in the digital world.Over the past three decades,we have helped connect more than three billion people around the world,while maintaining a proven track record in security.In 2021,Huawei opened its largest global Cyber Security and Privacy Protection Transparency Center in Dongguan,China.The center is designed to demonstrate solutions and share experience,facilitate communication and innovation,and support security testing and verification.It is open to our global stakeholders,in a bid to jointly create a reliable digital environment.Technology has the power to change the world and make dreams that once seemed out of reach possible.As a tech company,we believe that technology is a force for good.We will continue to provide products and services with a human touch,push boundaries and keep innovating,and ultimately,bring digital to every person,home and organization for a fully connected,intelligent world.-Tao Jingwen-Board Member and Chairmanof the CSD CommitteeTechnology with a Human Touch:Building a Better,Intelligent WorldHuawei Investment&Holding Co.,Ltd.2021 Sustainability Report /05 Various non-market factors,such as the COVID-19 pandemic,conflicts,and natural disasters,are putting unprecedented pressure on the timely delivery and stable operations of communications networks.However,Huawei has stayed committed to what we do best.We believe that it is our responsibility to support stable network operations and ensure uninterrupted communications.Over the past year,we provided timely support for more than 180 major events and emergencies worldwide.To address challenges throughout our supply chain,we have established backup supply networks at multiple points along multiple paths at multiple levels.We will stick to our strategy of maintaining a globalized,diversified supply chain,and work closely with our suppliers and partners to create a secure,reliable,competitive,and healthy value chain.Technology for a greener,cleaner environmentAs green development continues to gain momentum across the globe,decarbonization and digitalization are becoming imperative.ICT will be key to both processes.Huaweis environmental efforts are driven by the companys green pledge of Tech for a Better Planet,which focuses on three areas:reducing carbon emissions,promoting renewable energy,and contributing to a circular economy.Our goal is to use innovative technology to protect our planet.In 2021,Huawei held its Supplier Carbon Emissions Reduction Conference to clarify its strategies and requirements on supply chain emissions reduction.With the support of Huawei,98%of our top 100 suppliers and energy-intensive suppliers set carbon emissions reduction targets.In the same year,we used over 300 million kWh of electricity from renewable energy sources in our own operations,up 42.3%over 2020.Huaweis digital power company focuses on five key domains:clean power generation,energy digitalization,transportation electrification,green ICT power infrastructure,and integrated smart energy.In total,our digital power solutions helped customers generate 482.9 billion kWh of green power and save 14.2 billion kWh of electricity.These efforts resulted in a total carbon offset of 230 million tons.Huawei is also working to build a business model that integrates circular economy practices and a closed-loop value chain.This reduces our impact on the environment and our demand for natural resources.For example,the packaging of Huaweis P50 series smartphones uses 89%less plastic than the P40 series,with plastic accounting for less than 1%of the packaging.In addition,Huawei has joined the Digital with Purpose Movement launched by the Global Enabling Sustainability Initiative(GeSI),pledging to combat climate change and report on our progress.Technology for a better,more harmonious worldWe believe that responsible companies should not solely pursue business value,as such a model is simply not sustainable.Social value should be a key consideration whenever companies conduct business activities.As companies contribute social value,they will likely encounter new business opportunities.This will help create a virtuous cycle and drive progress towards the United Nations Sustainable Development Goals.At Huawei,it is a company policy to care for our employees and always put their safety first.We fully support our employees working in difficult situations,including those in locations hit hard by the pandemic or suffering from conflict,and use digital technology to improve their working environments.In 2021,we invested more than CNY15 billion into employee benefits,reaching a record high.Huawei emphasizes a culture of integrity and invests heavily to make it a reality.As such,every Huawei employee is required to adhere to the companys Business Conduct Guidelines(BCGs).We also prioritize supplier management and make sustainability a key part of our procurement strategy.In 2021,we assessed the sustainability performance of more than 1,600 major suppliers.In terms of social responsibilities,Huawei is an active and productive member of every community in which it operates.We use digital technology to make a lasting,positive impact and give back to local communities.In March 2021,Huawei launched the HUAWEI Women Developers program,aiming to help women developers pursue innovation and contribute to an inclusive and diverse world.In July,Huawei announced the Seeds for the Future 2.0 program,in which we plan to invest US$150 million over the next five years to cultivate digital talent.The program is expected to benefit over three million more people around the world.In August,Huawei announced that it would invest US$100 million into the Spark Program in the Asia-Pacific region over the next three years,with the purpose of building a sustainable startup ecosystem in the region.This program is intended to help more startups seize the opportunities posed by digital transformation,achieve business success,and develop more innovative products and solutions for the world.Technology has the power to change the world and make dreams that once seemed out of reach possible.As a tech company,we believe that technology is a force for good.We will continue to provide products and services with a human touch,push boundaries and keep innovating,and ultimately,bring digital to every person,home and organization for a fully connected,intelligent world.A Message from the Chairman of the CSD Committee06/Huawei Investment&Holding Co.,Ltd.2021 Sustainability Report09/2021 Sustainability Honors and Awards10/Huaweis Sustainability Milestones in 202111/Sustainability Strategy and Progress13/Sustainability Management System17/Stakeholder Engagement36/Cyber Security and Privacy Protection39/Openness and Transparency41/Supporting Stable Communications46/Business ContinuitySustainability Management01/Corporate Profile01/Report Profile02/A Message from the Chairman of the Board04/A Message from the Chairman of the CSD CommitteeSecurity and Trustworthiness24/Driving Equity and Quality in Education26/Conserving Nature with Technology29/Enabling Inclusive Health and Well-being31/Driving Inclusive Digital DevelopmentDigital InclusionHuawei Investment&Holding Co.,Ltd.2021 Sustainability Report /07 80/Caring for Employees87/Business Ethics91/Supply Chain Responsibilities95/Community Responsibilities105/Sustainability Goals and Performance106/GRI Standards112/Acronyms and Abbreviations115/External Assurance Statement51/Reducing Carbon Emissions69/Promoting Renewable Energy71/Contributing to a Circular Economy75/Environmental CertificationsCONTENTSEnvironmental ProtectionHealthy and Harmonious EcosystemAppendices08/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportSustainability Management12021 Sustainability Honors and AwardsHuaweis Sustainability Milestones in 2021Sustainability Strategy and ProgressSustainability Management SystemStakeholder EngagementHuawei Investment&Holding Co.,Ltd.2021 Sustainability Report /09 Sustainability ManagementHonor/Award NameIssued byHuawei DigiTruck in Kenya:World Summit on the Information Society(WSIS)Prizes 2021 Champion ProjectITUNature Guardian:GSMA GLOMO for Outstanding Mobile Contribution to the UN SDGsGSMAHuawei RuralStar Pro:Best Mobile Innovation for Emerging Markets of GSMA GLOMOGSMABest Practices for Achieving SDGs in 2021(Protecting the Environment&Addressing Climate Change)Global Compact Network ChinaLeadership Award on Climate ActionCDPClimate A-ListCDPFusionSolar Smart PV solution:Carbon Neutrality Actor Climate Solver of the YearWWF27 Huawei subsidiaries recognized as a Top EmployerTop Employers InstituteVodafone Health and Safety AwardVodafone GroupExcellence in Supply Chain DevelopmentDeutsche TelekomHuawei India:Great Place to WorkGreat Place to Work InstituteHuawei Saudi Arabia:2021 Sustainability Award in the Core Economic AreaKing Khalid Foundation(KKF)Huawei Bangladesh:Partner Recognition AwardbKashTop 10 Green and Low-carbon CompaniesShenzhen Emissions Exchange Co.,Ltd.Huawei Malaysia:Cyber Security Innovation of the YearCyberSecurity Malaysia(CSM)Huawei UAE:Cybersecurity Company of the Year and Cybersecurity CEO of the YearUAE Cyber Security Council(CSC)2021 Sustainability Honors and Awards10/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportHuaweis Sustainability Milestones in 2021 In January,Huawei released the Corporate AI Business Intent and Governance Principles,which specifies that the intent of the companys AI business is to enhance human,societal,and environmental well-being.In March,Huawei launched the HUAWEI Women Developers(HWD)program to empower women developers in the development of innovative technologies.In May,Huawei held its Supplier Carbon Emissions Reduction Conference to clarify its strategies and requirements on supply chain emissions reduction.In May,Huawei joined the Digital with Purpose Movement launched by the Global Enabling Sustainability Initiative(GeSI).In June,Huawei opened its largest global Cyber Security and Privacy Protection Transparency Center in Dongguan,China.In July,Huawei launched its Seeds for the Future 2.0 program,in which it plans to invest US$150 million over the next five years to cultivate digital talent.The program is expected to benefit over three million more people.In August,Huawei announced that it would invest US$100 million in the Spark Program in the Asia-Pacific region over the next three years,aiming to build a sustainable startup ecosystem in the region.In October,Huawei led the revision of the IPC-1401 Corporate Social Responsibility Management System Standard,which was then released globally by IPC the Association Connecting Electronics Industries.In November,Huawei released its statement on gender equality,in which the company commits to using its technologies and platforms to benefit more women,encourage them to work in the tech industry,and cultivate womens leadership.In November,Huawei held its first global Tech4Good competition,asking participating students to identify a social issue and propose a technical solution based on the ICT knowledge they have learned.Q1Q2Q3Q4Huawei Investment&Holding Co.,Ltd.2021 Sustainability Report /11 Sustainability ManagementSustainability Strategy and ProgressHuawei is committed to bringing digital to every person,home and organization for a fully connected,intelligent world.As a tech company,Huawei believes that technology is a force for good.As such,sustainability is a key part of our overall strategy.Under the guidance of our Corporate Sustainable Development(CSD)Committee,we have made ongoing efforts in our four sustainability strategies:digital inclusion,security and trustworthiness,environmental protection,and a healthy and harmonious ecosystem.These efforts will contribute to achieving the United Nations Sustainable Development Goals(UN SDGs).Major progress in these four areas in 2021:110,000 people,including teachers and students from 400 schools,as well as unemployed young people,have been able to access the Internet and improve their digital skills and scientific and technological literacy through TECH4ALL projects32protected areas in 25 countries have more efficiently protect biodiversity with the help of Huaweis TECH4ALL projects4.4 million visually impaired users and 800,000 hearing impaired users use the accessibility features on Huawei devices each month60 millionpeople in remote areas across 70 countries have been connected to the Internet through Huaweis RuralStar series solutionsDigital InclusionLeaving no one behind in the digital world:Huawei launched its TECH4ALL initiative to promote digital inclusion for all.The goal of the initiative is to bring digital technology to every person,home,and organization.We run projects with our partners and are making technology more inclusive by investing in technology,applications,and skills.70 cyber security certifications were awarded to Huawei,giving our customers internationally recognized security assurances20,000 requests from data subjects were promptly and effectively handled by Huawei,respecting and protecting user privacy35Authorized Economic Operator(AEO)certificates were awarded to Huawei in 28 countries and regions across five continents,ensuring supply chain security180 major events and emergencies where Huawei supported stable communicationsSecurity and TrustworthinessTaking responsibility to build trust:Cyber security and privacy protection are a top priority at Huawei,and we continue to invest and remain transparent in both areas.We have worked to improve our software engineering capabilities and practices,build resilient networks,develop trustworthy and high-quality products,and support stable network operations and business continuity.12/Huawei Investment&Holding Co.,Ltd.2021 Sustainability Report1.9xincrease in the average energy efficiency of Huaweis main products compared to the base year(2019)300 million kWhof electricity from renewable energy sources used in Huaweis own operations,up 42.3%over 202098%of Huaweis top 100 suppliers and energy-intensive suppliers set carbon emissions reduction targets with the support of Huawei89%less plastic was used in the packaging of Huaweis P50 flagship phones compared to the P40 series,with plastic accounting for less than 1%of packagingCNY15 billion invested in employee benefitsCNY142.7 billioninvested in R&D in 2021,equaling 22.4%of the companys total revenue1,600 major suppliers received a sustainability performance assessment from Huawei400 social contribution programs run by Huawei worldwideEnvironmental ProtectionContributing to a clean,efficient,low-carbon,and circular economy:We are committed to minimizing our environmental impact in manufacturing,operations,and over the entire lifecycles of our products and services.Huaweis innovative products and solutions help industries reduce their energy consumption and emissions,and contribute to the circular economy.We actively work with all our industry partners to shrink our carbon footprint.Healthy and Harmonious EcosystemCollaborating for the common good:We operate with integrity and in compliance with all applicable laws and regulations,and continue to enhance sustainability risk management.We work to ensure that our employees can develop and realize their personal value.We conduct due diligence on our global supply chain to ensure its sustainability.We actively contribute to the communities we operate in.Our goal is to work with all industry partners to build a healthy and harmonious industry ecosystem.Huawei Investment&Holding Co.,Ltd.2021 Sustainability Report /13 Sustainability ManagementSustainability Management SystemAs part of our efforts to achieve our strategic sustainability goals,we have considered both internal and external environments and followed ISO 26000 and the Responsible Business Alliance(RBA)Code of Conduct while working on the six key areas of our sustainability management system:leadership,planning,organization and skills support,process operations,performance appraisal,and system improvement.Our goal is to manage our sustainability strategies and goals in a closed loop,enhance digital operations,and increase stakeholder satisfaction.BusinessenvironmentStakeholdersCustomersBusinessenvironmentStakeholdersCustomers6.Sustainability management system improvement Quality and operations organization Capacity building Infrastructure3.Organization and skills support2.Planning Countermeasures for risks and opportunitiesSustainability solutionplanningChange planningHuaweis Sustainability Management SystemRequirements Issue closure Cause analysis Continuous improvement Knowledge management Document managementSatisfaction1.Leadership Sustainability strategies,principles,and objectivesSustainability policies,rules,and standardsTiered sustainability management authorizationSustainability culture,incentives,and accountability5.Performance appraisal Customer satisfaction surveysMaturity assessmentsMeasurements,analyses,and evaluationsSustainability reviewsManagement reviews4.Process operations Major business processes(IPD/LTC/ITR)End-to-end sustainability management(incorporating sustainabilityrequirements into processes)Building sustainability into the entirevalue chain(suppliers/partners)Framework of Huaweis Sustainability Management System14/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportCSD CommitteeHuaweis Corporate Sustainable Development(CSD)Committee guides the companys business units in setting annual and mid-and long-term sustainability goals,as well as overseeing the attainment of these goals in accordance with our four sustainability strategies.The Committee consists of more than 10 senior executives from various departments,including human resources(HR),manufacturing,logistics services,procurement,and research and development(R&D).The CSD Committee is chaired by Tao Jingwen,a board member and President of the Quality,Business Process&IT Department.Sustainability Risks and OpportunitiesWe believe that sustainability risk management is part of the companys business processes,rather than being independent of business operations.To help business units identify and manage sustainability risks,Huawei has created a sustainability risk management guide based on the Risk,Governance,and Control(RGC)methodology.The guide covers risk identification,risk assessment,target setting,risk control,risk monitoring,and risk governance.We believe that improved sustainability will boost efficiency,increase customer satisfaction,lower operational risks,and drive greater business innovation.Proactively managing sustainability risks and opportunities will help our company become more competitive.Functions of the CSD Committee:Develops corporate-level sustainability strategies,guidelines,objectives,and policies;sets the course;and monitors their implementation.Coordinates the creation,implementation,and continuous improvement of the sustainability management system;decides on sustainability related matters;and ensures that Huaweis sustainability management complies with relevant laws and regulations,international standards,and customer requirements.Facilitates sustainability-related communication with key stakeholders such as customers,regulators,and industry organizations.Drives the resolution of sustainability issues across domains or processes and coordinates sustainability operations from end to end.Provides guidance on the development,operation,and improvement of our environment,occupational health and safety(EHS)management system,and handles major EHS issues.The Committee meets each quarter and convenes special meetings as necessary to discuss sustainability issues.The major topics discussed at meetings in 2021 included:human rights,digital inclusion,environmental protection,responsible procurement,and safe production and operations.To support the efficient operations of the CSD Committee,we have appointed a working group,which is responsible for coordinating and completing everyday sustainability work and facilitating the achievement of strategic goals related to sustainability.Huawei Investment&Holding Co.,Ltd.2021 Sustainability Report /15 Sustainability ManagementExamples of sustainability risks and opportunitiesRisks and OpportunitiesMeasuresSustainability StrategyAccording to the UN,more than 600 million young people worldwide lack basic mathematics and literacy skills.Therefore,inclusive and equitable quality education is an imperative.Through programs like DigiTruck and DigiSchool,Huawei is working with its partners to help provide everyone with equal access to quality education.Digital InclusionAccording to a report released by the United Nations Environment Programme,climate change,biodiversity loss,and pollution are the three major environmental crises facing humanity.Huawei has long pursued the green pledge of Tech for a Better Planet to actively address climate and environmental challenges.We use ICT to reduce carbon emissions,promote renewable energy,contribute to a circular economy,and protect nature.Environmental Protection and Digital InclusionThe beauty of technology lies in its potential to benefit all.Technology must be easily accessible to both the masses and the underprivileged.Huawei cares about underprivileged groups.Thats why we are using our innovative ICT solutions to help our partners provide more easily accessible healthcare resources and offering accessibility features designed for the elderly and those with disabilities in our own products.Digital InclusionAn estimated 37%of the worlds population have never used the Internet,many of whom live in remote rural areas.Through its TECH4ALL initiative,Huawei is committed to bridging the digital divide and working with partners to promote individual development for people in remote rural areas using our digital technologies.Digital InclusionGovernments around the world are paying greater attention to cyber security and privacy protection,and have adopted laws and regulations to strengthen the governance of cyberspace and protect personal data.Cyber security and privacy protection are a top priority at Huawei.We strive to develop secure,trustworthy,and quality products,solutions,and services to help customers build more resilient networks.Security and TrustworthinessCyber security and privacy are a common challenge,one that all stakeholders including governments,industry and standards organizations,enterprises,technology suppliers,and consumers have a shared responsibility to address.In June 2021,we opened our largest global Cyber Security and Privacy Protection Transparency Center in Dongguan,China.We are committed to strengthening communication and collaboration with stakeholders,promoting common security standards,technological innovation,security governance,testing,and verification,and more.We look forward to collaborating with all stakeholders to build cyber security and privacy protection capabilities,share value,and embrace both challenges and opportunities.Security and TrustworthinessIt is our mission and primary social responsibility to maintain stable network operations.Earthquakes,typhoons,epidemics,and other natural disasters and incidents can all impact Huaweis business operations in numerous ways,and thus impact the operations of networks we have deployed.We have robust mechanisms for responding to natural disasters and incidents.We constantly improve our capabilities in this regard to ensure that people have continued access to stable ICT services anytime,anywhere.Security and Trustworthiness16/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportRisks and OpportunitiesMeasuresSustainability StrategyIn todays highly globalized and highly specialized world,Huaweis operations rely heavily on third parties.This makes business continuity management(BCM)critical.Through years of sustained investment,Huawei has established a BCM system for domains such as R&D,procurement,manufacturing,logistics,and global technical services.This system covers our end-to-end processes,from suppliers to Huawei and on to our customers.Security and TrustworthinessRising temperatures are causing various problems such as environmental degradation,natural disasters,extreme weather,and rising sea levels.The reduction of carbon emissions is now a consensus shared by all.Huawei is working to reduce carbon emissions in every aspect of its operations,including products,operations,and supply chains,and is taking every responsible step to do so.Environmental ProtectionFossil fuels have caused many environmental problems and sustainability challenges.Clean power enabled by technology is a sustainable alternative that will drive new economic growth the world over.Huaweis digital power company is dedicated to integrating digital and power electronics technologies,developing clean power,and enabling energy digitalization to drive an energy revolution for a better,greener future.Environmental ProtectionAs the worlds population continues to grow and quality of life keeps improving,the pressure on the worlds natural resources is increasing.To adapt to future needs,it is important for us to develop a resource-efficient economic model.Huawei is committed to building a business model that incorporates circular economy practices and a closed-loop value chain so that all resources can be efficiently used,reused,and recycled,to maximize product value with limited resources.Environmental ProtectionHuaweis global business presence poses a challenge to ensuring the health and safety of our employees,due to the effects of epidemics,conflicts,and other potential emergencies.At Huawei,it is a company policy to care for our employees and always put their safety first.As the COVID-19 pandemic evolved,Huawei switched to scientific pandemic-prevention methods and targeted control measures.These included rapid nucleic acid tests,vaccinations,and campus entry management.We have spared no effort to help transfer those working in high-risk regions,along with their families,to safer locations and provide all necessary supplies and financial assistance.Healthy and Harmonious EcosystemWe have worked for years to build a compliance management system that aligns with industry best practices.Despite these efforts,we may still experience impacts due to the complex legal environments of some of the countries and regions in which we operate.For example,there may be a lack of clarity or transparency in regards to local laws or ambiguity surrounding legal systems or law enforcement.Huawei will continue to learn from industry best practices and take preventive measures to address risks.The certainty of legal compliance is our best safeguard against the uncertainty of the external environment.Healthy and Harmonious EcosystemAccording to the findings of supplier audits,most of the identified issues are related to health and safety,so we must urge suppliers to further enhance EHS management.Working under conditions that may put employee safety or health at risk is a CSR red line that Huawei draws for suppliers.We provide targeted training for suppliers in key industries or regions,and other key suppliers,conduct audits on them,and follow up on their corrective actions.Healthy and Harmonious EcosystemIn a digital economy,digital talent is the key to digitalization and economic growth.In 2021,Huawei launched the Seeds for the Future 2.0 program.We will invest US$150 million into this program over the next five years,and we expect over three million more people to benefit.Healthy and Harmonious EcosystemHuawei Investment&Holding Co.,Ltd.2021 Sustainability Report /17 Sustainability ManagementStakeholder EngagementStakeholder identification and engagement are critical to Huaweis sustainability management.Communicating and collaborating with stakeholders allows us to better understand their concerns and requirements.This information is a valuable input for our organizational decisions and helps us constantly improve our sustainability performance.Huaweis primary stakeholders include customers and consumers,employees,suppliers and partners,governments,non-governmental organizations(NGOs),industry organizations,specialist agencies,the media,and local communities.In 2021,we identified the top concerns of our stakeholders and developed corresponding strategies to address them:StakeholdersCommunication Channels and FrequencyMajor ConcernsHuawei StrategyCustomers and consumers Customer satisfaction surveys:Annual Customer meetings:On-demand Huawei Fan Club for consumers:Periodic Customer audits,surveys,and joint projects:Periodic Climate change/carbon neutrality Circular economy and eco-design Human rights Supply chain due diligence management Set medium-and long-term carbon emissions reduction targets for our own business and encourage our top 100 suppliers(by procurement spending)and energy-intensive suppliers to do the same.Build a business model that incorporates circular economy practices and a closed-loop value chain.Empower the CSD Committee to monitor and manage possible human rights abuses in Huaweis business activities and supply chains,and continuously improve the management of key areas that may have an impact on human rights.Integrate sustainability requirements into our end-to-end procurement process,from supplier admission and qualification to selection,performance evaluation,and portfolio management.Employees Employee surveys,(e.g.,organizational climate surveys):Annual Manager Feedback Program(MFP):Annual Meetings with employee representatives:Periodic Reflection sessions:Periodic Hotlines and public email addresses for filing complaints,providing suggestions,reporting misconduct,and making an appeal:Periodic Open Days with managers and experts:Periodic Health and safety at work Compensation,benefits,and incentives Learning and development Employee relations and experience working at Huawei Make it a company policy to care for employees and always put their safety first.Create a safe and comfortable workplace for all.Reward dedicated employees based on how well they fulfill their responsibilities and offer top pay for top talent.Offer employees systematic training programs and two distinct career paths the manager path and the expert path to help them realize their personal value.Promote workforce diversity,create an inclusive and equitable workplace,and nurture a warm and harmonious organizational climate.Suppliers and partners Supplier sustainability audits:Periodic Supplier sustainability conferences:Annual Supplier training:Periodic Joint sustainability programs:Periodic Fairness and equity Collaboration for shared success Social responsibilities Energy conservation and emissions reduction Prioritize our commitment to anti-bribery and anti-corruption above our business interests,and ensure fairness,integrity,and transparency in our operations.Remain committed to openness and collaboration for shared success and work with partners across different industries and domains to build up a healthy and harmonious ecosystem.Benchmark Huaweis operations against industry best practices,adopt internationally recognized standards,and integrate sustainability requirements into our procurement strategy.Encourage our top 100 suppliers and energy-intensive suppliers to set carbon emissions reduction targets for a green,competitive supply chain.18/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportStakeholdersCommunication Channels and FrequencyMajor ConcernsHuawei StrategyGovernments Meetings on government policy:On-demand Governmental public consultations:On-demand Government and inter-government conferences:On-demand Governmental sustainability programs:On-demand Combating climate change/carbon neutrality Economic development and employment Digital talent development Follow our green pledge of Tech for a Better Planet to actively address climate and environmental challenges,with a focus on reducing carbon emissions,promoting renewable energy,and contributing to a circular economy.Continue to implement our Glocalization strategy,including efforts to hire locally,invest locally,procure locally,and establish local research facilities.This will help boost employment and support economic growth in the countries and regions where we operate.Invest US$150 million in digital talent development over the next five years through the Seeds for the Future 2.0 program,which is expected to benefit over three million more people.NGOs,industry organizations,and specialist agencies Industry conferences,forums,and work groups:On-demand Standards conferences:On-demand Joint sustainability programs:On-demand Academic research programs:On-demand Human rights Combating climate change/carbon neutrality Circular economy Empower the CSD Committee to monitor and manage possible human rights abuses in Huaweis business activities and supply chains,and continuously improve the management of key areas that may have an impact on human rights.Follow our green pledge of Tech for a Better Planet to actively address climate and environmental challenges,with a focus on reducing carbon emissions,promoting renewable energy,and contributing to a circular economy.Build a business model that incorporates circular economy practices and a closed-loop value chain so that all resources can be efficiently used,reused,and recycled to maximize product value with limited resources.Media Press conferences:On-demand Exclusive interviews:On-demand Inviting the media to our conferences and events:On-demand Combating climate change/carbon neutrality Digital inclusion Business continuity Set medium-and long-term carbon emissions reduction targets for our own business and encourage our top 100 suppliers and energy-intensive suppliers to do the same.Roll out the digital inclusion initiative TECH4ALL across four domains:education,environment,health,and development.Stick to our strategy of maintaining a globalized,diversified supply chain without depending on any single supplier,country,or region,and develop sustained and stable supply capabilities over the long term.Communities Local employment and procurement:Periodic Participation in community projects:Periodic Running social contribution programs:Periodic Interaction through Huaweis websites and social media platforms:Periodic Green consumption Information accessibility Gender equality Facilitate green consumption by providing consumers with eco-friendly products.Integrate information accessibility features into Huaweis products and services and provide related hotlines and store services to ensure that no one is left behind in the digital world.Release a statement on gender equality,in which we commit to using our technologies and platforms to benefit more women,encourage them to work in the tech industry,and cultivate womens leadership.Huawei Investment&Holding Co.,Ltd.2021 Sustainability Report /19 Sustainability Management2021 Stakeholder EngagementHuawei actively engages with global stakeholders by organizing and participating in a variety of sustainability programs.Through these programs,we are able to discuss and work together on our shared concerns(e.g.using tech for good,promoting gender equality,combating climate change,and enhancing trust in tech)as part of our effort to support the UN Sustainable Development Goals.As part of the lead-up to Mobile World Congress Shanghai 2021,which ran from February 23 to 25,Huawei,GSMA,the Center for Environmental Economic Studies at Fudan University,and The Paper hosted the Connected for Shared Prosperity forum,with the support of UNESCO.More than 1,000 guests from over 50 countries attended the forum either online or in person,and discussions were broadcast live in eight languages.Attendees agreed that digital technology is the foundation of sustainable development and will benefit more people in multiple aspects.Connected for Shared Prosperity Forum Co-hosted with GSMAAt the HUAWEI Women Developers Summit held on April 28,2021 in Guangzhou,China,several outstanding women in tech were invited to share their technical knowledge,work experience,and personal stories to encourage more women to work and play a unique role in the tech field.The summit was hosted by HUAWEI Women Developers(HWD),Huaweis global women empowerment program designed to help women developers create world-changing apps and tools.HWD aims to provide women with the resources they need and encourage more women to join in technological innovation by offering them opportunities to learn,communicate,and express themselves.This is part of our efforts to contribute to a more diverse ecosystem.HUAWEI Women Developers Summit for Greater Gender Equality and a More Diverse EcosystemDuring EU Green Week 2021,Huawei and its European partners held five online and offline forums from May 31 to June 13,2021 to explore how digital technology is key to creating a greener future.The events brought together attendees from various organizations,including the Directorate-General for Environment of European Commission;the Irish Department of Agriculture,Food and the Marine;German Parliament;GeSI;and the United Nations Environment Programme(UNEP).The attendees discussed ten trends in new energy development,the important role of ICT in achieving the European Green Deal targets,and the need for public and private partnerships and industry-wide collaboration to shape a sustainable and intelligent world.Huawei at EU Green Week20/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportOn July 8,2021,Huawei held a Tech&Sustainability:Everyones Included forum,co-hosted with the International Union for Conservation of Nature(IUCN).Representatives from Huawei,IUCN,the World Economic Forum,CDP,GeSI,and the Singapore Institute of International Affairs discussed the role of technology in driving sustainability and building a more inclusive,eco-friendly world.At the forum,Huawei announced its Seeds for the Future 2.0 program,through which Huawei plans to invest US$150 million in digital talent development over the next five years.This program is expected to benefit over three million more people.Huawei also released its Innovation:Blood,Sweat and Dreams documentary series produced together with the Economist Group,which pays tribute to technological innovators and conservationists.Huaweis Tech&Sustainability Forum Exploring the Role of Technology in Sustainable DevelopmentFrom November 1 to 12,2021,the 26th UN Climate Change Conference of the Parties(COP26)was held in Glasgow.The COP26 summit brought various parties together,including governments,institutions,and tech companies,to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change(UNFCCC).Dr.Fang Liangzhou,Vice President and Chief Marketing Officer of Huawei Digital Power,spoke at the November 3 session System Change and Climate Innovation in the Technology Industry hosted by the UNFCCC Global Innovation Hub.Fang delivered a keynote address online entitled Building a Low-carbon Smart Society,where he described how Huawei Digital Power integrates digital and power electronics technologies to help industries save energy and reduce emissions in both power generation and consumption.Fang also called for joint efforts to build a low-carbon smart society together,so as to combat climate change and accelerate progress towards carbon neutrality.Huawei at COP26On December 2,2021,Huawei held the online TrustInTech Summit 2021 themed Global Collaboration for Shared Value.Leaders from across the globe attended the event,including Neil Bush,Chairman of the George H.W.Bush Foundation for US-China Relations;Pascal Lamy,Former WTO Director General;2018 Economics Nobel Prize winner William Nordhaus;ASEAN Deputy Secretary General H.E.Satvinder Singh;NASA Solar System Ambassador Derrick Pitts;and Hou Jinlong,Senior Vice President of Huawei and President of Huawei Digital Power.Attendees acknowledged that humanity has entered an era in which interests,fates,and futures are all intertwined,and called for coordinated efforts to address common challenges.Huaweis TrustInTech SummitHuawei Investment&Holding Co.,Ltd.2021 Sustainability Report /21 Sustainability ManagementHighHighLowImportance to Huaweis businessBusiness continuityRenewable energyCircular economy and eco-designClimate change/carbon emissions reductionCyber security and privacy protection&openness and transparencySupply chain sustainabilityTechnology for nature conservationTechnology for inclusion and equity in health and information accessibilityTechnology for equity and quality in educationOccupational health and safetyDigital talent developmentCommunity participation and contributionsSustainability management systemGender equalityTechnology for balanced developmentStable communicationsBusiness ethicsRespecting human rightsDiversity and inclusionEmployee training and developmentImportance to stakeholdersChapter 1 Sustainability ManagementChapter 2 Digital InclusionChapter 3 Security and TrustworthinessChapter 4 Environmental ProtectionChapter 5 Healthy and Harmonious EcosystemHuaweis Membership in Sustainability OrganizationsFocusing on Material IssuesManaging material issues helps us identify the major issues that affect our business operations and that concern our stakeholders.It is a key input for improving our sustainability performance.In 2021,after a comprehensive analysis and re-prioritization of our material issues,we adjusted the materiality matrix to include more issues that reflect stakeholder concerns,including digital talent development,information accessibility,and gender equality.The new matrix also makes supply chain sustainability and renewable energy a higher priority.Examples of how we identify material issues include:Stakeholder surveys Customer inquiries,audits,communications,and joint projects Industry insights,communications,and benchmarking Media engagements Internal risk assessments and strategic alignment22/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportDigital Inclusion2Driving Equity and Quality in EducationConserving Nature with TechnologyEnabling Inclusive Health and Well-beingDriving Inclusive Digital DevelopmentHuawei Investment&Holding Co.,Ltd.2021 Sustainability Report /23 Digital InclusionAs the digital economy continues to develop rapidly,digital technologies like big data,IoT,and AI have been interwoven into every aspect of our lives.Digital inclusion has become a new requirement in this new age.To promote digital inclusion,Huawei launched the TECH4ALL initiative,as we believe that no one should be left behind in the digital world.In 2021,Huawei worked with more than 40 partners,including UNESCO,the International Union for Conservation of Nature(IUCN),the non-profit organization Close the Gap,and Rainforest Connection(RFCx).We made substantial progress in the areas of education,environment,health,and development,contributing to achieving the UN SDGs.24/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportDriving Equity and Quality in EducationUNESCO believes that education is a human right for all throughout life and that access must be matched by quality.Huawei is working with its partners,including UNESCO and Close the Gap,and using innovative ICT solutions to enable everyone to have equal access to high-quality education,which contributes to the SDG 4(Quality Education).We aim to harness the power of technology and increase network coverage and connections to help make high-quality educational resources more accessible.We want to empower more people with digital skills to improve the quality of education and career development.We also support the development of technology courses to improve the scientific and technological literacy of teachers and students in remote areas.By the end of 2021,Huaweis education programs had benefited more than 110,000 people,including teachers and students from over 400 schools,as well as unemployed young people.DigiTruck:Improving the Digital Skills of People in Remote AreasDigiTruck in Kenya empowering people in remote rural areas with digital skillsDigiTruck in France providing digital skills coursesIn Kenya,less than 50%of people use the Internet.This is because over 75%of Kenyans live in remote areas and many people do not realize the economic value of digital skills.In fact,some Kenyans have never used a smartphone or gone online.To empower people in remote rural areas with digital skills,Huawei launched the DigiTruck project in 2019,in partnership with UNESCO,Close the Gap,GSMA,Computers For Schools Kenya(CFSK),and the Kenyan carrier Safaricom.DigiTruck is a mobile digital classroom that has been converted from a shipping container.The entire truck is solar-powered,so classes can be held in remote areas lacking adequate power supplies.Inside the truck,a digital space with smart devices like laptops,LED screens,VR goggles,smartphones,and routers,has been set up.Thanks to the wireless broadband available on the truck,students can access the Internet,learn digital skills,and try the VR devices and other innovative educational tools.By the end of 2021,DigiTruck had provided more than 38,000 hours of training to over 2,100 young people in Kenya.In France,14 million people experience at least one form of digital divide whether it be Internet access,computer literacy,or difficulty using devices.As a result,many lack the digital skills that employers need,limiting individual opportunities.In July 2021,Huawei partnered with a local training institute to provide training in digital skills for unemployed young people and the elderly through the DigiTruck mobile classroom.By the end of 2021,the project had provided more than 700 hours of training to over 1,500 people in nine French cities.Huawei Investment&Holding Co.,Ltd.2021 Sustainability Report /25 Digital InclusionDigiSchool:Enabling Scientific and Digital Literacy in K12 SchoolsWith digital education,were not only addressing the literacy crisis,but also equipping young learners with the digital skills required for future success.Nicola Harris,Chief Executive Officer of Click FoundationDigiSchool in South Africa helping primary school children improve their English reading comprehension skillsAs Progress in International Reading Literacy Study points out,78%of grade four children in South Africa lack basic English reading comprehension skills during the literacy foundation phase from grades one to three.To address this challenge,Huawei launched the DigiSchool project in partnership with the local carrier Rain and the educational non-profit organization Click Foundation.The project aims to help all children in South Africa read fluently and comprehend what they are reading by the end of grade three.By the end of 2021,the project had connected over 90 schools and reached more than 50,000 students.Huawei joined Chinas Green Pepper programIn 2020,Huawei joined Chinas Green Pepper program.This initiative provides online vocational training for young teachers in rural areas who have been in the job for between one and three years.It is hoped that this will encourage more teachers to join and remain in rural schools,as well as improve teaching quality.Huaweis WeLink application plays an essential role in this program,acting as a digital connector to offer an open,intelligent,and collaborative learning platform for teachers.Since its launch in 2020,the program has benefited more than 35,000 teachers.DigiSchool offering STEAM courses to inspire the creativity of primary school childrenIn 2021,Huawei also launched the DigiSchool project in China to improve the scientific and technological literacy of rural students and teachers.Building on its cutting-edge ICT innovations and knowledge,Huawei developed a series of STEAM courses,opening the door of the technology world to teachers and students in remote rural areas.By the end of 2021,we had delivered the first phase of the project in rural schools in midwestern China,benefiting more than 400 teachers and students.26/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportConserving Nature with TechnologyAccording to a report released by the United Nations Environment Programme,climate change,biodiversity loss and pollution are the three main environmental crises facing humanity.The 2021 UN Biodiversity Conference(COP15)and the 2021 UN Climate Change Conference(COP26)highlighted the global consensus that we need to work together to address biodiversity loss and climate change.To this end,Huawei is working with environmental protection organizations and partners on projects that aim to explore the use of ICT to protect forests,wetlands,oceans,and nature as a whole.Through wildlife protection efforts,the number of wild Asian elephants has increased in the tropical rainforest of Xishuangbanna,China.As a result,their habitats overlap with the living spaces of local communities.Preventing conflicts between elephants and people is a top priority of local conservation efforts.China Mobile Yunnan and Huawei jointly built an innovative network that helped Xishuangbanna build Chinas first Asian elephant protection,monitoring,and warning system.It consists of a warning broadcast system that pushes warnings of elephant movements to locals on a mobile app if an elephant is detected.Monitoring devices are deployed in places where elephants frequently All-optical Smart City Network:Allowing Elephants and People to Live in HarmonyA rescuer giving wild training to rescued elephantsroam.The system has so far collected 1.43 million images and sent more than 6,000 warnings,greatly reducing unplanned human-elephant encounters.There have been zero incidents of human injury or other conflicts in the areas covered since the system was deployed.Tan Xuji,Director of the Asian Elephant Monitoring Center of the Scientific Research Institute of Xishuangbanna National Nature Reserve of Yunnan ProvinceHuawei Investment&Holding Co.,Ltd.2021 Sustainability Report /27 Digital InclusionProtecting Against Invasive Species with AI91%of wild salmon can be identified using Huaweis Ascend AI technology,reducing manual workloads and protecting biodiversity more efficientlySalmon is a pillar of the Norwegian economy,and wild salmon,also known as the Atlantic salmon,is the basis for the healthy development of salmon farming in the country.But large invasions of humpback salmon and escaped farmed salmon are threatening the survival of wild salmon.These invasive species affect the reproduction of wild salmon and also spread disease,threatening the health of native fish species.The population of Norwegian wild salmon has decreased by half,and it has been listed as a near-threatened species by Norway.In 2021,Huawei and Berlevag JFF,an association of hunters and anglers in Norway,collected images of river bottoms captured by underwater cameras.They were then able to identify native and invasive fish species in the rivers in real time with the help of Huaweis Ascend AI technology.The technology can identify 91%of wild salmon,reducing manual workloads and protecting biodiversity more efficiently.The project team provided the first comprehensive and dynamic 24/7 report on fish information to local river conservation associations,providing an accurate source of data for river governance efforts.AI represents a ray of hope in the struggle to protect against invasive salmon and conserve the biodiversity of rivers in Norway.River managers and volunteers in Norway installing an underwater AI monitoring system28/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportNature Guardian:Protecting Oases in ItalyThe WWF has designated 100 protected oases in Italy.Two of these are Orbetello Lagoon and Burano Lake in Grosseto.Combined,they are home to almost 300 species of birds.The third site is the Astroni crater in Naples,which houses three lakes;a pristine Mediterranean forest;130 species of birds;and large amphibian,reptile,and insect populations.The main threats to these three hotspots of biodiversity are poaching,illegal logging,and unauthorized recreational activities such as motocross and firework displays,which can decimate habitats and start forest fires.For WWF rangers,patrolling these areas on foot,or even on wheels,is time-consuming and labor-intensive.Responding to incidents in real time is incredibly difficult.To help protect these ecosystems,Huawei partnered with WWF Italy,the University of Pavia,and RFCx to deploy 10 networked Nature Guardians and 45 offline AudioMoth devices in the three sites.The Guardians can monitor environmental sounds from each site in real time,and transmit audio data to the cloud over a The Director of Astroni Crater Nature Reserve installing an offline AudioMoth device to protect local ecosystemswireless network.AI analytics can identify sounds that may constitute environmental threats such as chainsaws,gunshots,or motorbike engines.The AudioMoth devices identify different animal species from their vocalizations,monitor animal distribution and populations,and determine factors that disturb them,including the effects of climate change.Since its deployment in August 2021,the Guardian system has collected and analyzed an enormous volume of acoustic data.A total of 15 alerts of potentially illegal activities across the three sites have enabled WWF rangers to investigate incidents in real time.At the site in Naples,one alert allowed local police and WWF rangers to seize equipment being used to illegally trap animals.Huawei Investment&Holding Co.,Ltd.2021 Sustainability Report /29 Digital InclusionEnabling Inclusive Health and Well-beingHuawei hopes that everyone at any age,including those living with a disability,can equally and easily benefit from technological advances.Thats why Huawei has created a wide range of products and services that offer information accessibility functions and helped healthcare workers provide underprivileged groups with tailored,easily accessible services.TrackAI:Diagnosing and Treating Visual Impairments in Young Children4,500 children from five countries have received visual examinations using TrackAIDiagnosing health issues in young children can be very difficult because they are unable to communicate effectively.And nowhere is this more evident than in babies born with a visual impairment.Congenital eye conditions and low vision can go unnoticed in very young children,because they get used to it when they are still babies.A combination of these factors can make eye diseases incredibly difficult to diagnose early on in a persons life.However,most visual impairments can be prevented or cured if caught early enough.So how can we tell whether a baby can see properly?With current tools,only highly experienced ophthalmologists can assess the visual functions in very young children.To tackle the shortage of ophthalmologists and the difficulty of diagnosing eye diseases in young children,the Spanish startup DIVE Medical and Huawei jointly launched the TrackAI project.Through this project,children with a visual impairment can be quickly identified with an easy-to-use detection device.The device uses an eye tracker to monitor a childs gaze,while Huaweis AI determines whether the child is suffering from any visual impairments.Since the project was launched three years ago,more than 4,500 children from five countries have received visual examinations.A toddler receiving a visual examination using TrackAI30/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportInformation Accessibility:Creating More PossibilitiesThe beauty of technology lies in its potential to benefit all.Technology must not only cater to the needs of the majority,but also be easily accessible to those in need.HarmonyOS has been built from the ground up with accessibility as a key priority.This system offers a diverse array of accessibility features like screen reader labels and accessibility focus and gestures.HarmonyOS also offers an accessibility framework and APIs that allow third-party developers to create a greater number of accessibility features.We believe that accessibility is not just for people with disabilities.Anyone can experience impaired physical function,for example,when bedridden from illness or when eyesight deteriorates with age.Visibility enhancementsZhongwei,who is now a piano tuner,has been visually impaired since birth.In 2015,he bought his first Huawei phone,a P8max.Since then,Zhongwei has become very familiar with the accessibility features on Huawei phones,and they now provide him with important support in his daily life.He particularly likes using the AI Life app,which can control and manage all of his household appliances and smart devices.With the ScreenReader feature,Zhongwei can turn on his air conditioner and easily adjust the temperature and direction of the airflow on the AI Life app.When friends visit,he can help them connect to his Wi-Fi network.Zhongwei is effusive in his praise for the Huawei AI Life app:This is beyond what I could have imagined just a few years ago.In the past,every device came with a dedicated remote control.There was no voice command option.I sometimes needed help when using them.Hearing the beauty of classical Chinese poetryGuoguo,who is hearing-impaired,hopes to use technology to help remove the communication barriers facing deaf people.For this reason,she became the project leader for an intelligent sign language translation program called Yiyu.Jointly developed by Huawei and a local partner,the software translates speech into text and sign language in real time,helping hearing-impaired people access information more easily.While testing the application,developers noticed that children in special education schools struggled to understand classical Chinese poetry because of a lack of sign language vocabulary and grammar.To solve this problem,the project team developed poetry courses with sign language translations,allowing children to experience the beauty of traditional Chinese literature through vivid illustrations and signing by Yiyus virtual interpreters.These courses have been delivered in schools for the deaf in several cities in China,and will be offered free of charge in more such schools in the future.Helping elderly people enjoy a digital lifestyleHuawei has developed learning materials and teaching practices specifically for elderly people,helping them become familiar with smart devices.Huawei developed the Mobile Phone Instructions for Parents,a guide that helps elderly people understand which functions are used in specific scenarios.It is now in its ninth edition.Users can get the print version free of charge at over 1,600 Huawei authorized service centers in China.Huawei developed the Bringing You a Digital Lifestyle series,which includes seven courses on basic mobile phone use,safe mobile phone use,healthcare,smart travel,and entertainment.Users can sign up and attend these courses in more than 4,000 experience stores in China,or visit the stores anytime they want to inquire about how to use their phones.During the 2021 Double Ninth Festival alone,more than 3,000 sessions were delivered.Huaweis device stores work closely with local communities,local authorities,activity centers for senior citizens,nursing homes,welfare centers,and apartment building managers to hold Huawei Classes in Communities events.Seniors can learn at the store nearest to them and solve any issues they face with using their mobile phones.Zhang Yimin,a lecturer at a Huawei device experience store in Jilin,gave 14 training sessions in the local community during his spare time in 2021.In fact,there are many lecturers like Zhang at Huawei.They are active in local communities and help elderly people better enjoy the convenience and fun of smart devices.A Huawei lecturer delivering the Bringing You a Digital Lifestyle courses in a local communityHuawei Investment&Holding Co.,Ltd.2021 Sustainability Report /31 Digital InclusionDriving Inclusive Digital DevelopmentAn estimated 37%of the worlds population have never used the Internet,many of whom live in remote rural areas.Through its TECH4ALL initiative,Huawei is committed to bridging the digital divide and working with partners to promote individual development for people in remote rural areas using our digital technologies.We also empower traditional industries to go digital and help them offer safer working environments for their employees.AirPON:Connecting the UnconnectedIn the mountains of Chiang Mai,Thailand,a mountain road 60 kilometers long provides the main access route connecting local villages to the nearest city.However,flooding occurs whenever it rains due to the steep terrain and lack of drainage,and the road has earned the local nickname Water Road.This rugged mountain road and the lack of access are a great inconvenience to residents.To improve this situation,the National Broadcasting and Telecommunications Commission(NBTC)of Thailand used Huaweis AirPON solution to implement the USO NET project in the mountainous areas in Chiang Mai.During a field visit,the project team found that the residents living in these areas were not just far from the city,but also scattered across many small villages.A traditional FTTH solution would be too costly,and it was difficult to find a suitable place to accommodate all the required facilities.In contrast,Huaweis cost-effective AirPON solution can repurpose existing poles and cables,with equipment rooms installed up on poles,making communications services available and affordable to local residents.By the end of 2021,the USO NET project had provided Internet access to 19,652 villages,including 3,920 border villages,and about 600,000 households now have access to high-speed broadband services.Through this project,we also provided targeted digital skills training to local people to further bridge the digital divide between urban and rural areas.With high-speed broadband services,doctors in Thai villages can consult with specialists in large cities through telemedicine devices600,000households now have access to high-speed broadband services and 19,652 villages are connected to the Internet thanks to the USO NET project32/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportAdvances in network and agricultural technologies are increasing the yields of dragon fruit and the incomes of farmers,making a huge difference to villages in GuangxiGigabit Optical Network:Helping Boost Chinas Rural EconomyGuangxi is Chinas largest producer of dragon fruit.In Guangxis Longan,traditional farming methods meant hard labor for local people,as they have to perform both fertilization and irrigation by hand.Moreover,young people from rural areas are reluctant to work in agriculture.Mechanization and intelligence,both relying on high-speed broadband networks,are the future of farming.Huawei helped China Telecom build a ubiquitous gigabit optical network across the urban and rural areas of Guangxi that are covered by fiber.Thanks to the high bandwidth,low latency,and highly reliable connectivity,Jinfu Farm was able to transform its farming methods from labor-intensive to digitally led.The integrated fertilization and irrigation management system automatically irrigates up to 367 hectares of land,freeing up fruit farmers from having to water trees by barrel under the blistering sun.Sensors regularly monitor soil conditions,allowing precise fertilization that in turn cuts fertilizer costs by about CNY15,000 per hectare per year.The automatic temperature control system sprays and cools the trees in summer.In winter,heaters keep them within the optimum range,greatly increasing annual yields.The visual tracking system monitors the growth of the fruit.With more than 40 GB of data generated every day,the gigabit optical network quickly migrates the data to the cloud.Consumers can scan QR codes to see the place of production.In 2021,local communities generated additional revenue of more than CNY15 million from dragon fruit,benefiting more than 40,000 low-income farmers.Advances in network and agricultural technology are making a huge difference to local communities.They are making agricultural production easier and the rural economy more dynamic,improving the quality of life for local people.Huawei Investment&Holding Co.,Ltd.2021 Sustainability Report /33 Digital InclusionHuaweis FTTM-powered ultra-remote-control solution is enabling workers at the Port of Shanghai to conduct remote operations from the comfort of a command center 100 kilometers away from the port,and has demonstrably improved work safety and boosted productivity.FTTM-powered Ultra-remote-control:Safer and More Efficient Port Operations Ports underpin the global economy and serve as a barometer of economic activity.However,working at container ports is incredibly labor-intensive.Crane operators need to work at a height of 40 meters,without access to food or water for hours.They have to spend entire shifts with their heads tilted downwards at the floor below,which has caused many serious neck issues.In addition,manual work is extremely inefficient.Huaweis ultra-remote-control solution powered by Fiber to the Machine(FTTM)allows port workers to intelligently load and offload cargo from the comfort of a command center a hundred kilometers away.This solution has three key features:Low latency and large bandwidth:The solution ensures no video delay or freezing and provides real-time visibility of equipment status at ports.Secure and reliable:It provides dual-link fiber connectivity and full-link redundancy protection,enabling zero service interruptions.The solutions two-way link-level encryption improves both reliability and security.Easy to operate and maintain:The solution supports plug-and-play and the service can be automatically provisioned.All equipment is centrally managed and easy to operate and maintain,and equipment status is visible and manageable.Huaweis FTTM-powered ultra-remote-control solution improves work safety and productivity at the Port of Shanghai34/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportSecurity and Trustworthiness3Cyber Security and Privacy ProtectionOpenness and TransparencySupporting Stable CommunicationsBusiness ContinuityHuawei Investment&Holding Co.,Ltd.2021 Sustainability Report /35 Security and TrustworthinessWe live in a highly interconnected world,where the physical and digital realms are converging and network boundaries are increasingly blurred.Cyber security and privacy protection are ever more important.Over the past year,a succession of critical vulnerabilities,supply chain attacks,and advanced persistent threats(APTs)emerged.Cyber security threats have become ubiquitous,arising in products,services,operations,internal IT systems,supply chains,code,and personnel.Governments around the world are paying greater attention to cyber security and privacy protection,and have adopted laws and regulations to strengthen the governance of cyberspace and protect personal data.With the rising role and importance of data in all parts of our lives,data protection and compliant data use are becoming a basic requirement.As digital transformation accelerates across industries,the application of new technologies such as cloud computing,artificial intelligence(AI),5G,and big data brings risks as well as opportunities.We need to consider how to meet the increasingly strict compliance requirements of regulators,and how to provide secure and trustworthy products and services that fulfill our commitments to customers.We also need to embrace a defense-in-depth approach to provide better security,ensure business continuity,and improve efficiency and customer experience while protecting user privacy.We also need to give people access to stable ICT services during major incidents like natural disasters and pandemics.These are the challenges and opportunities of the digital economy.36/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportCyber Security and Privacy ProtectionOver the past three decades,we have built more than 1,500 networks with carriers and helped millions of enterprises with digital transformation.During this time,we have connected over three billion people around the world and maintained a solid track record in security.With digital transformation picking up pace,we are acutely aware that cyber security will become a cornerstone of the future digital world.Business success will not be achieved without security,trustworthiness,and privacy protection.We continue to place cyber security and privacy protection as a top priority.We are committed to confronting cyber security and privacy challenges and opportunities through management transformation,technological innovation,and open collaboration.We want to foster a better life for all in the future digital world by offering secure and trustworthy products,solutions,and services where personal data is lawfully used and always protected.We continuously optimize our end-to-end cyber security and privacy protection assurance system,making sure that each domain is constantly refined and up-to-date:Deepening trustworthiness transformation to enhance software engineering capabilities and cyber resilience,and building secure,trustworthy,and quality products and solutionsIn 2021,we improved our internal off-the-shelf components of trustworthy technologies and product design platforms,and implemented the clean code mechanism to continuously improve code quality and reduce vulnerabilities.We also enhanced threat analysis and trustworthy design,bringing improvements to the security and resilience capabilities of products and solutions.We incorporated the software engineering capability enhancements into the Integrated Product Development Lifecycle(IPD 12.0).In terms of organizational changes,we strengthened the integration and continuous development of common security capabilities.We set up a corporate-level vulnerability management center based on the Product Security Incident Response Team(PSIRT)to enhance common vulnerability management capabilities.We also integrated the Trustworthiness Enabling Department and IT Equipment Department at the product line level to help implement software engineering capabilities through IT systems.Consolidating privacy governance to respect and protect user privacyWe comply with privacy protection laws and regulations in the countries and regions in which we operate.In 2016,we established a unified privacy governance framework in accordance with the General Data Protection Regulation(GDPR).With successive personal data protection laws such as Chinas Personal Information Protection Law being enacted and cross-border data transfer requirements being imposed in different regions and countries,we have continuously improved our governance architecture and technical capabilities,and incorporated privacy protection and cross-border data transfer requirements into R&D,services,operations,and other aspects.Based on the governance architecture and processes,we developed a series of IT tools and platforms to improve compliance effectiveness and management maturity,and provided transparent and clear compliance processes and results.We handled over 20,000 data subject requests in a timely and effective manner,protecting the rights of data subjects.We conducted 30 internal and external audits in different countries across business domains,and multiple subsidiaries have obtained internationally recognized privacy protection certifications.Helping customers manage security risks through technological innovationWe continue to research,explore,and implement cutting-edge fundamental technologies such as cryptography,AI trustworthiness,confidential computing,and differential privacy.Furthermore,we accelerate the application of security technology solutions to products,and continue to introduce vulnerability mitigation,advanced threat detection,data protection,and other technologies into ICT products,improving security and resilience.Take 5G base stations as an example.We deploy a wide range of functions including software integrity checks in the boot state,runtime software integrity measurement,and one-click security configuration checks providing security verification,hardening,and detection capabilities.We also build intrinsic security for 5G to enable a more efficient integrated security protection system.In this way,we have significantly enhanced cyber resilience.Additionally,we introduced application behavior detection and other functions under device-cloud synergy to mobile phones,further enhancing privacy protection capabilities.We released AI situational awareness technology,which improves the attack detection and audit capabilities of AI models and protects AI model assets.Ensuring privacy and security for HarmonyOS usersHarmonyOS is a next-generation operating system that can run on a wide range of smart devices.It enables different smart devices to speak the same language,facilitating Huawei Investment&Holding Co.,Ltd.2021 Sustainability Report /37 Security and Trustworthinessbetter connection and collaboration,and bringing a simple,smooth,continuous,secure,and reliable interaction experience in all scenarios.At the outset,we emphasized the fundamental importance of consumer privacy and security,implementing a system security architecture and ecosystem management and control framework to address these issues.With HarmonyOS,we have built a security architecture for the Super Device.It implements hierarchical device security management,trusted device connections,distributed access control,and a security collaboration platform to protect the security of consumers.We have built a HarmonyOS application management and control framework to ensure that applications are protected throughout the lifecycle,including the development,commissioning,release,installation,and running phases.In this way,we protect users from malicious applications and ensure their privacy and security.Continuously enhancing secure and trustworthy service operationsWe continue to invest in the development of IT-based capabilities for trustworthy operations and digitally ensure transparent and traceable network operations.We set up an operations trustworthiness lab to strengthen interconnection with global standards organizations and cutting-edge research and we continued to develop capabilities to address emerging cyber security challenges.Our data security management system for carrier service support passed the external System and Organization Controls 2(SOC 2)audit,demonstrating the effective lifecycle management of such data.At the same time,we continued with the Network Safety Day campaign to increase cyber security awareness and risk control,working with our customers to enhance cyber resilience.Steadily boosting awareness and professional capabilities among all employeesWe encourage employees continued participation in external professional cyber security and privacy protection certification programs.To date,more than 1,200 employees have obtained industry-recognized certifications,such as Certified Information Systems Security Professional(CISSP),Certified Information Privacy Professional(CIPP)from the International Association of Privacy Professionals(IAPP),and Certificate of Cloud Security Knowledge(CCSK).We have established a Cyber Security&Privacy Protection Knowledge Center and released more than 200 Massive Open Online Courses(MOOCs),facilitating rapid sharing and transfer of knowledge within the organization.To continuously improve cyber security and privacy protection awareness among all employees,we held the Cyber Security Awareness Month campaign,engaging about 150,000 employees online and offline through different activities.Such activities included messages from top-level management,expert lectures,knowledge quizzes,a Capture the Flag competition,a cyber security technology conference,and a verification conference.Continuously strengthening cyber security risk management and capability-building of the supply chainWe have established a comprehensive ISO 28000-compliant supply chain security management system to identify and control security risks in the end-to-end process from incoming materials to manufacturing and delivery to customers.We have developed industry-leading materials security and trustworthiness specifications,security sourcing test standards,and supplier security and trustworthiness maturity standards.Suppliers must pass the security system certification and test before they are admitted.In 2021,we conducted cyber security risk assessments on more than 4,000 suppliers worldwide,and recorded,tracked,and rectified the issues identified.We signed data processing or protection agreements with more than 5,000 suppliers and implemented privacy protection management requirements for suppliers to ensure compliance.We also optimized the security baselines and verification processes for manufacturing and supply availability,and implemented them in the production and delivery processes of new products.Given the great importance we attach to supply chain security requirements around the world,we have now obtained 35 Authorized Economic Operator(AEO)certificates in 28 countries and regions across five continents.We continue to build a thriving security ecosystem together with our partners,and 25 of our logistics service providers around the world have obtained Transported Asset Protection Association(TAPA)certificates.We continue to optimize our supply chain tracking system,which is capable of tracing software and hardware from incoming materials to customer delivery within hours,supporting rapid rectification and risk mitigation.Increasing investment in third-party independent verificationWe continue working with industry-recognized certification bodies to test our cyber security capabilities against international standards and best practices,providing customers with internationally recognized security assurance.In 2021,we obtained more than 70 cyber security certificates.For example,our 5G base station was the first to pass the NESAS/SCAS 2.0 evaluation in the industry,HarmonyOS obtained high-level Common Criteria certification,the Intelligent Automotive Solution Business Unit(IAS BU)obtained DEKRA ISO/SAE 21434 certification for cyber security engineering of road vehicles,and our digital power products obtained the IEC 62443 certificate.38/Huawei Investment&Holding Co.,Ltd.2021 Sustainability ReportHUAWEI CLOUD WeLink:A Secure Digital WorkplaceWith the advances in Internet technologies,the decentralized or distributed office model is gaining traction.More people are working remotely or from home.While we enjoy the benefits of more flexible work styles enabled by technology,we must also be aware of our increased exposure to security threats,such as cyber attacks and data leaks,caused by distributed and mobile offices.Security is the highest priority for digital workplaces.HUAWEI CLOUD WeLink comes with enhanced software and hardware security features,allowing enterprise users to protect their data from end to end.The solution offers the following features:Security fencing that strictly controls device access Security tunnels that protect data transmission and application access to ensure security Protected messaging and file transmission that ensures data flows in an enterprise securely Data shields that ensure enterprise data flows within defined boundaries Screenshot security that prevents data leakage Call encryption that ensures each call is encrypted with a unique key and can only be accessed by parties to the callWeLinks end-to-end security featuresEmpowered by these cutting-edge security techniques,WeLink features access control,leakage prevention,encryption,anti-intrusion,and traceability.WeLinks security capabilities are renowned in the industry.By the end of 2021,WeLink had received more than 50 security certifications in and outside China,including cloud service security system certification,Android Green Alliance purity level(highest),ISO 27001 security system certifications,level-3 information security evaluation by Chinas Ministry of Public Security,and Service Organization Controls audits(SOC 1,SOC 2,and SOC 3).Building on its security capabilities,WeLink helps enterprises provide a digital workplace that is secure,efficient,and intelligent.Security auditSecure watermarking technologySecure containerData safesVPNData leakage preventionDevice encryptionChip-level encryption using Chinese national cryptographic algorithmsDevice authenticationExclusive enterprise accountPrivacy protectionEncryption and anonymizationLink encryptionData hijacking preventionDeployed across RegionsHigh-availability servicesIntrusion preventionReal-time sensing and blockingTraceability Anti-intrusionEncryptionLeakage preventionAccess controlHuawei Investment&Holding Co.,Ltd.2021 Sustainability Report /39 Security and TrustworthinessOpenness and TransparencyCyber security and privacy are a common challenge,one that all stakeholders including governments,industry and standards organizations,enterprises,technology suppliers,and consumers have a shared responsibility to address.We reiterate our commitment to communicating and collaborating with all stakeholders in an open,transparent,and responsible manner,so that we can jointly improve cyber security and privacy capabilities and address the challenges through technological innovation,knowledge sharing,standards development,verification,and other measures.We strive to continually improve cyber security and personal privacy,enabling everyone to enjoy all of the benefits brought by technological advances.In 2021,we made the following key achievements in external cooperation:In the mobile communications field,we submitted more than 400 cyber security proposals to 3GPP and GSMA,maintaining our longstanding industry-leading position.We also submitted proposals on remote attestation security architecture,interaction models,YANG data models,and campus IoT device access security to international standards organizations,including ETSI,IETF,ITU-T,and CCS.These are just a few examples of our many continuous contributions to the development of industry security standards.We became a member of the Organisation of the Islamic Cooperation-Computer Emergency Response Team(OIC-CERT),the worlds third largest computer emergency response organization,and actively participated in the OIC-CERT 5G Security Working Group to develop a 5G cyber security framework for risk assessment and management,aiming to help member states improve their 5G cyber security management capabilities.In Germany,Huawei supported the Federal Office for Information Security(BSI)in the release of the AI Cloud Service Compliance Criteria Catalogue(AI C4)by providing relevant suggestions based on a use case pilot project.AI C4 is the industrys first security standard for AI cloud services.In December 2021,Huawei Cloud OCR service officially passed the AI C4 attestation conducted by an independent agency.In Thailand,we worked with the National Cyber Security Agency(NCSA)to organize the participation of more than 600 professionals in the Cyber Top Talent competition,helping identify and select local cyber security talent.As part of the partnership with the NCSA,we will assist them in building a dedicated e-lab to provide in-depth training on cyber security technologies and standards for local organizations and talent.In the UAE,we deepened our cooperation with the Cyber Security Council(CSC),and played an active role in the construction of the local cyber security ecosystem and the improvement of regional cyber security awareness and capabilities.We won the Cybersecurity Company of the Year and Cybersecurity CEO of the Year awards.In Indonesia,we renewed the Memorandum of Understanding(MoU)on cyber security cooperation with the National Cyber and Crypto Agency(BSSN),reaffirming our commitment to sharing cyber security knowledge and supporting Indonesias plan to develop cyber security and digital transformation professionals.In Malaysia,we worked with the national cyber security specialist agency CyberSecurity Malaysia(CSM)and mobile telecommunications provider Celcom to build a Cyber Security Test Lab(My5G),helping Malaysia improve its cyber security capabilities and setting the stage for 5G deployment.At the Cyber Security Malaysia Awards,Conference&Exhibition(CSM-ACE)in December,the Ministry of Communications and Multimedia Malaysia released My5G,and Huawei was awarded Cyber Security Innovation of the Year by CSM.In Singapore,we joined the SG Cyber Safe Partnership Programme launched by the Cyber Security Agency(CSA)as an Advocate partner.We will deepen our cooperation with the CSA in product and service development and community outreach activities to further boost the cyber security awareness of local businesses and the public and promote cyber security best practices and good cyber security hygiene.China Mobile and Huawei set up a joint innovation center on 5G security in Zhejiang Province.To address the typical cyber security requirements of industries,such as manufacturing and power grids,the center incubates different security solutions,including network element security risk detection,multi-access control over terminals,slice security isolation,and mobile edge computing security services.In this way,the center aims to continuously enhance the security capabilities of 5G networks,safeguarding the digital transfor
2022-03-13
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SustainabilityReport2021Unlocking the potential of the complement system The dysregulation of the co.
2022-03-13
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5星级
每一天，我们都在努力为我们的产品和服务注入体面和人性。我们努力打造地球上最好的产品，同时让世界变得比我们发现的时候更美好。履行这一承诺意味着忠于苹果从一开始就定义的价值观。这意味着创新保护人们的隐私，我们认为这是一项基本人权。
2022-03-13
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Corporate Governance Report FY2021 SAMSUNG ELECTRONICS Co.,Ltd.The Company has prepared this report in accordance with Article 24-2 of the Enforcement Decree of Disclosure Regulations in Securities Markets to provide investors with information regarding the Companys corporate governance.The information in this report is based on the corporate governance status as of December 31,2021,and changes that occurred as of the reporting date are separately stated.Activities related to corporate governance are from January 1,2021 to December 31,2021.If the Korea Stock Exchange guidelines have set a specific period of time for certain information,the information is based on that period.The information for“Core Principle and Specific Principle included in this report is based on the guideline set forth by the Korea Exchange.Table of contents.Outline.1.Corporate governance.2 1.Corporate governance policy.2 2.Shareholders 4 (1)Shareholder rights.4(2)Equitable treatment of shareholders 11 3.Board of Directors.20(1)Roles and responsibilities.20(2)Board composition.28(3)Responsibilities of Independent Directors.37(4)Evaluation of Independent Directors.42(5)Board operation.44(6)Board committees.50 4.Audit system.58(1)Internal audit system.58(2)External auditor.65.Other matters related to corporate governance.67 Attached.Compliance of corporate governance key indices 69-1-(KRW 100 mil)Outline Company name:Samsung Electronics Co.,Ltd.(SEC)Report supervisor:Tae-gyu Kang at IR Team Phone: 82-2-2255-9000 Email: Deputy supervisor:Min-gyu Kim at IR Team Phone: 82-2-2255-8116 Email: Base date:Dec 31,2021(last day of the previous fiscal year of disclosure of report)Company outline The major shareholder and others Samsung Life Insurance and 15 others(including affiliates and foundations established with SEC contributions)Portion of shares owned by major shareholders,etc.21.14%Portion of shares owned by minority shareholders 65.71tegory of business(finance/non-finance)Non-finance Main products Electric and electronic products Belonging to enterprise group in accordance with the Monopoly Regulation and Fair Trade Act Yes Subject to Act on the Management of Public Institutions No Name of enterprise group Samsung Financial information highlights FY2021 FY2020 FY2019 Consolidated revenue 2,796,048 2,368,070 2,304,009 Consolidated operating profit 516,339 359,939 277,685 Consolidated profit from continuing operations 399,075 264,078 217,389 Consolidated net profit 399,075 264,078 217,389 Consolidated total assets 4,266,212 3,782,357 3,525,645 Separate total assets 2,511,122 2,296,644 2,161,809 Portion of shares data as of the reporting date(December 31,2021)-2-Corporate Governance 1.Corporate Governance Policy(1)Governance principles and policies Aiming to be a global leader that grows along with people and local communities,Samsung Electronics Co.,Ltd.(the Company)operates with a philosophy that states:“We will devote our human resources and technology to create superior products and services,thereby contributing to a better global society.”Our corporate governance is structured and managed in a transparent manner in accordance with applicable legal procedures.The members of the Board of Directors(the Board)are elected by resolution at a general meeting of shareholders and consist of five Executive Directors and six Independent Directors as of the reporting date.Executive Directors are elected from candidates recommended by the Board.For Independent Directors,the Independent Director Recommendation Committee,which consists entirely of Independent Directors,recommends candidates through a separate procedure to ensure a more deliberate and objective consideration.Information regarding the candidates is provided in detail to shareholders before a general meeting in the form of reference material,convocation notice,and letter before they are elected on the day of annual general meeting(AGM)through shareholder approval.The Board is structured in a way that ensures independent decisions and judgements to promote Company growth and shareholder rights and interests.In order to enhance independence,Independent Directors comprise the majority of the Board,and they hold meetings that exclude the Companys management members to ensure candid and objective discussions.However,on April 20,2022,Wha-jin Han vacated her position as an Independent Director citing personal reasons,and Byung-gook Park passed away on May 17,2022.Thus,the Company will appoint new Independent Directors at the first general meeting of shareholders convened after the vacation of the positions,pursuant to Article 542-8 Paragraph 3 of the Commercial Act.We have been working continually to improve our governance:revisions to the Companys Articles of Incorporation and regulations of the Board of Directors in March 2016 allowed any Directornot just the CEOsto be appointed as Chairman,and in March 2018,the Board elected a Chairman who was not a CEO.The revisions were designed to enable Executive Directors to better concentrate on management activities and strengthen the Boards check on management.In March 2020,an Independent Director was elected as the Chairman of the Board,further enhancing the independence and transparency of the Board,and in March 2022,the new Chairman was also appointed from among Independent Directors.Meanwhile,we have strengthened our institutional system,allowing us to avoid conflicts of interest and prevent self-interests from influencing Board decisions.Article 398 of the Commercial Act limits transactions between a Director and the Company,and,in accordance with Article 9 of the Regulations of the Board of Directors,a Director is prohibited from exercising voting rights in cases where he or she has a special interest in or even a possibility of a conflict of interest with the Company.In a rapidly changing business environment,Director expertise is essential as the Board is constantly required to make strategic decisions.The Companys mainstay business DivisionsDevice eXperience(DX)and Device Solutions(DS)are each headed by a leading professional in the relevant field;and each head also participates on the Board and practices responsible management as CEO.In 2022,along with the CEOs,President and Head of Mobile eXperience(MX)Business Tae-moon Roh,President and CFO Hark-kyu Park,and President and Head of Memory Business Jung-bae Lee were appointed as Executive Directors based on their expertise and management and leadership capabilities.The Board needs diverse perspectives in order to make broad decisions.Independent Directors leverage their expertise and skills from various fields,including finance,law,IT,ESG,and investment to contribute to the Boards informed and objective decision-making process.Detailed information regarding our corporate governance is available on our website(https:/ in our business reports(https:/ corporate governance A.Ensuring responsible management through the participation of business representatives on the Board In the rapidly changing IT industry,prompt and strategic decision making is required to remain competitive.Under such an environment,the Company needs Directors who have a high-level of expertise and fully understand our businesses.Accordingly,the Board appoints the heads of the DX Division and the DS Division as Executive Directors to participate in the decision-making process.Having expert,highly-experienced key executives from each business on the Board enables a comprehensive and long-term approach to decision making,and with heads of the business divisions taking CEO positions,we are practicing responsible management.Meanwhile,our Independent Directors provide abundant expertise in various fieldsincluding finance,law,IT,ESG,and investmentand supervise the activities of both management and Executive Directors and offer objective advice.B.Enhancing the Boards efficiency through the delegation of authorities The Board makes resolutions on matters provided for by the relevant laws and regulations or the Articles of Incorporation,matters delegated by a general meeting of shareholders,as well as on important matters concerning basic policies and execution of the Companys business.While some matters require the review and resolution of the entire Board,others can be reviewed more efficiently by committees of the Board equipped with expertise in the relevant field.The Board has delegated specific responsibilities to six committees,in accordance with Article 28-2 of the Articles of Incorporation and Article 11-2 of the Regulations of the Board of Directors,in order to enhance its operational efficiency.Agendas approved by committees of the Board are immediately reported to all Directors,and if deemed necessary,each Director may request the Chairman to call for a board meeting to put the resolutions approved by the committee(excluding the Audit Committee)forward for a vote at a meeting of the Board.C.Improving supervision via committees composed of a majority of Independent Directors As the Companys business continues to evolve,the Board constantly faces increasingly complex and varied managerial matters.In response,the Board has expanded its responsibilities and established new committees(such as the Related Party Transactions Committee,Compensation Committee,and Sustainability Committee)to delegate the new roles.These committees consist entirely of Independent Directors,and they make independent and objective decisions and expand their responsibility to supervise management from a diverse perspective.In particular,the CSR Committee(currently the Sustainability Committee)has commissioned research groups(e.g.,Corporate Ecosystem Development Research Group,Environmental Safety Research Group)led by Independent Directors to collaborate with outside experts to provide the Company with applicable advice.The Committee in April 2017 was reorganized,expanded to the Governance Committee to further conduct the role of reviewing matters related to enhancing shareholder value.In July 2021,the Committee was reorganized and expanded once again,with the resultant Sustainability Committee tasked with strengthening the Boards role in sustainability management,including ESG.The Board will continue its efforts to find new ways to further enhance the Company.-4-2.Shareholders (1)Shareholder rights(Core Principle 1)Shareholder rights Shareholders should have timely access to all information that is necessary to exercise their rights in a legitimate process.1)General meeting of shareholders(Specific Principle 1-)Corporations should provide timely access to information for shareholders concerning the date,location,agenda,etc.,of general meetings prior to the meeting.A.Summary of general meetings The 53rd Annual General Meeting of Shareholders(AGM)took place at am 9:00 on March 16,2022 in Suwon(where the Companys headquarters is located)at the Suwon Convention Center.Agenda items at the AGM included the approval of 2021 financial statements,appointment of Directors,and approval of remuneration limit for Directors,all of which were approved as submitted.The following is a summary of recent shareholders meetings.The 51st AGM The 52nd AGM The 53rd AGM Date of resolution on convocation Feb 21,2020 Feb 16,2021 Feb 15,2022 Date of convocation notice Feb 21,2020 Feb 16,2021 Feb 15,2022 Date of meeting Mar 18,2020 Mar 17,2021 Mar 16,2022 Days between date of convocation notice and AGM 26 days 29 days 29 days Location of meeting Convention Hall,3F,Suwon Convention Center,Suwon,Gyeonggi Province Convention Hall(3F)/Exhibition Hall(1F),Suwon Convention Center,Suwon,Gyeonggi Province Convention Hall(3F)/Exhibition Hall(1F),Suwon Convention Center,Suwon,Gyeonggi Province Reference material delivery method Convocation notice on electronic disclosure system,convocation letter(sent out to all shareholders),etc.Convocation notice on electronic disclosure system,convocation letter(sent out to all shareholders),newspaper notice,etc.Convocation notice on electronic disclosure system,convocation letter(sent out to shareholders who hold more than 1%of the shares outstanding)/letter of notice(sent to all shareholders),newspaper notice,etc.Notice method for non-Korean shareholders IR English website,English disclosure at respective websites for the London Stock Exchange and Luxembourg Stock Exchange IR English website,English disclosure at respective websites for the Korea Exchange,London Stock Exchange and Luxembourg Stock Exchange IR English website,English disclosure at respective websites for the Korea Exchange,London Stock Exchange,and Luxembourg Stock Exchange Presence of Board members 8 out of 9 11 out of 11 11 out of 11 Presence of Audit Committee Board members 3 out of 3 3 out of 3 3 out of 3 Shareholder remarks-Question on dividend policy-Question on impact of COVID-19 on revenue and response measures-Question on plans for product launch-Question on labor-management culture-Question on current business issues and business strategies-Question on work environment-Complaint on a product-Question on dividend policy-Question on recruitment plans-Question on operation of the Board and Committees-Question on current business issues and business strategies-Complaint on quality and marketing issues-Question on dividend policy-Question on the reasons behind the appointment of Directors -5-Question on current business issues-Support for agendas-Question on the reasons behind the appointment of Directors-Support for agendas-Question on plans for product launch-Question on labor-management culture-Question on operation of the Board and Committees-Question on environment-friendly management policies B.Provision of AGM information As of the 52nd AGM,the Company discloses general information regarding the AGM,including the date,location,and agenda items,on the electronic disclosure system of the Financial Supervisory Service(FSS)at least four weeks prior to the meeting to allow shareholders to fully review the agenda before exercising their voting rights.Previously,the AGM convocation notice had been sent to all shareholders in written form two weeks prior to the AGM.Starting from the 53rd AGM,the Company,pursuant to Article 542-4 of the Commercial Act and Article 17-3 of the Articles of Incorporation,disclosed the convocation notice on electronic disclosure system for shareholders holding less than 1%of the total issued shares with voting rights;and sent the convocation letter at least two weeks prior to the AGM for shareholders holding more than 1%of the total issued shares.In addition,starting from the 53rd AGM,letters of notice on the AGM are sent via mail separately to all shareholders to protect the rights of minority shareholders who may have difficulty checking the convocation notice.In accordance with the revised Enforcement Decree of the Commercial Act,Business Report and Auditors Report are updated at least one week prior to the AGM on the DART system and on the IR website.Thus,we provide our shareholders with detailed information to enhance their understanding of the AGM agenda.For the 53rd AGM,the information was offered via convocation notice four weeks prior to the AGM to allow shareholders to fully review the agenda.2)Shareholder participation(Specific Principle 1-)The Company should encourage shareholder participation as much as possible and ensure shareholders can propose their opinions.A.Exercising voting rights For the past three years,the date of our AGM has not coincided with general meeting concentration dates to ensure greater participation of our shareholders.The 51st AGM The 52nd AGM The 53rd AGM General meeting concentration dates March 13/20/26/27,2020 March 26/30/31,2021 March 25/30/31,2022 AGM date March 18,2020 March 17,2021 March 16,2022 Avoided concentration date Yes Yes Yes Mail-in voting No No No Electronic voting Yes Yes Yes Proxy voting solicitation Yes Yes Yes -6-The Company does not allow mail-in voting.However,the Board in January 2020 resolved to adopt electronic voting to enable shareholders to more conveniently exercise their voting rights.Electronic voting has been available from the 51st AGM held in March 2020.In addition,the Company recommends the granting of proxies by distributing letter of attorney via various meanse.g.,direct distribution,mail or fax,uploading the letter of attorney on the IR website(https:/ sending the letter of attorney through email.In the 52nd and 53rd AGM,shareholders exercised voting rights directly,by proxy,or by electronic voting.The Company discloses the number of votes for and against each agenda item on the website immediately following the AGM to enhance transparency.The results of the voting are as follows:Agenda item Type of resolution Details Result Shares with voting rights Total votes Shares for Shares against or abstained 1 Ordinary Approval of FY21 financial statements,including statement of financial position,income statement,and statement for disposal of retained earnings Approved 5,372,291,434 4,158,978,735 4,128,612,994(99.27%)30,365,741(0.73%)2-1 2-1-1 Ordinary Appointment of Han-jo Kim as an Independent Director Approved 5,616,725,387 4,403,374,461 3,061,624,473(69.53%)1,341,749,988(30.47%)2-1-2 Ordinary Appointment of Wha-jin Han as an Independent Director Approved 5,616,725,387 4,403,365,913 4,390,610,713(99.71%)12,755,200(0.29%)2-1-3 Ordinary Appointment of Jun-sung Kim as an Independent Director Approved 5,616,725,387 4,403,362,643 4,301,085,196(97.68%)102,277,447(2.32%)2-2 2-2-1 Ordinary Appointment of Kye-hyun Kyung as an Executive Director Approved 5,616,725,387 4,403,304,505 3,801,822,604(86.34%)601,481,901(13.66%)2-2-2 Ordinary Appointment of Tae-moon Roh as an Executive Director Approved 5,616,725,387 4,403,299,611 4,313,602,631(97.96%)89,696,980(2.04%)2-2-3 Ordinary Appointment of Hark-kyu Park as an Executive Director Approved 5,616,725,387 4,403,299,869 3,791,570,612(86.11%)611,729,257(13.89%)2-2-4 Ordinary Appointment of Jung-bae Lee as an Executive Director Approved 5,616,725,387 4,403,291,665 4,317,038,113(98.04%)86,253,552(1.96%)2-3 2-3-1 Ordinary Appointment of Han-jo Kim as an Audit Committee member Approved 5,190,052,876 3,976,616,516 2,968,145,202(74.64%)1,008,471,314(25.36%)2-3-2 Ordinary Appointment of Jeong Kim as a member of Audit Committee Approved 5,190,052,876 3,976,616,516 2,960,941,724(74.46%)1,015,674,792(25.54%)3 Ordinary Approval of remuneration limit for directors Approved 5,372,291,434 4,158,855,020 4,082,721,581(98.17%)76,133,439(1.83%)-7-Agenda item Type of resolution Details Result Shares with voting rights Total votes Shares for Shares against or abstained 1 Ordinary Approval of FY20 financial statements,including balance sheet,income statement,and statement for disposal of retained earnings Approved 5,372,194,621 4,513,682,081 4,483,834,047 (99.34%)29,848,034 (0.66%)2-1-1 Ordinary Appointment of Byung-gook Park as an Independent Director Approved 5,616,647,528 4,758,116,602 3,896,940,233 (81.90%)861,176,369 (18.10%)2-1-2 Ordinary Appointment of Jeong Kim as an Independent Director Approved 5,616,647,528 4,758,115,593 3,865,872,358 (81.25%)892,243,235 (18.75%)2-2-1 Ordinary Appointment of Ki-nam Kim as an Executive Director Approved 5,616,647,528 4,758,100,797 4,707,557,966 (98.94%)50,542,831 (1.06%)2-2-2 Ordinary Appointment of Hyun-suk Kim as an Executive Director Approved 5,616,647,528 4,758,076,522 4,707,517,675 (98.94%)50,558,847 (1.06%)2-2-3 Ordinary Appointment of Dong-jin Koh as an Executive Director Approved 5,616,647,528 4,758,058,044 4,707,524,863 (98.94%)50,533,181 (1.06%)3 Ordinary Appointment of Sun-uk Kim as a member of Audit Committee Approved 4,990,591,497 4,131,965,645 3,284,441,300 (79.49%)847,524,345 (20.51%)4 Ordinary Approval of remuneration limit for directors Approved 5,372,194,621 4,513,566,180 3,838,844,687 (85.05%)674,721,493(14.95%)B.Measures to encourage shareholder participation in AGM Starting from the 52nd AGM,the Company discloses a convocation notice(via electronic disclosure system)of the AGM four weeks prior to the eventearlier than what is required by relevant regulations,including the Commercial Actto ensure shareholders are fully informed about the AGM and its agenda.In addition,from the 53rd AGM,a convocation notice is disclosed via electronic disclosure system for shareholders who hold less than 1%of the shares outstanding;and a convocation letter is sent out by mail to shareholders holding more than 1%of the shares outstanding.Also,we provide more information on the AGM than what is required by relevant regulations such as the Commercial Act,including by separately sending out letters of notice on the AGM by mail to all shareholders in consideration of minority shareholders who may have difficulty checking the convocation notice so that all shareholders can thoroughly review agenda items prior to exercising their voting rights.Moreover,we avoid shareholder meeting concentration dates,which are published by the Korea Listed Companies Association,to ensure higher shareholder participation at the AGM.From March 2020,we started using electronic voting so that shareholders can exercise their rights remotely.We will continue to do our utmost to engage with our shareholders,including through increased AGM participation and exercising of voting rights.At the same time,we will continue to respect shareholders opinions and consider them in our decision-making process.-8-3)Shareholder proposals(Specific Principle 1-)The Company should ensure shareholders can propose general meeting agenda items conveniently.Shareholders should be able to freely ask questions and receive explanations regarding shareholder suggested meeting agendas.A.Shareholder right to propose agenda items In accordance with Article 363-2 and Article 542-6 Paragraph 2 of the Commercial Act,shareholders holding 3%or more of the shares outstanding or shareholders holding 0.5%or more of the shares outstanding(excluding shares not carrying voting rights)over the previous six months have the right to propose agenda items for a general meeting of shareholders via written or electronic form at least six weeks prior to a shareholders meeting or six weeks prior to the day and month of the previous fiscal years AGM in the case of an AGM.Unless the content of a shareholder proposal is against the law or Articles of Incorporation,or it falls under one of the subparagraphs in Article 12(Rejection of Shareholders Proposals)of the Enforcement Decree of the Commercial Act,the Board shall include the proposal as part of the AGM agenda to be announced via convocation notice.Upon request by the shareholder,key points of the proposal shall also be included in the convocation notice.At the AGM,the shareholder will be given an opportunity to present the details on the agenda item he or she proposed.Human Resources is responsible for tasks related to agenda proposals by shareholders.Once a proposal is submitted,the shareholder will be identified,a legal review will be conducted,and then a letter or electronic notice will be sent to the shareholder to verify submission.Information on shareholder proposals is available on our website(https:/ the last three years,there have been no shareholder proposals.Therefore,details on implementations of shareholder proposal-related activities are not included in this document.Also,there have not been any public statements from institutional investors regarding stewardship activities in the recent three years.B.Providing information on shareholder right to propose agenda The Company strives to protect shareholder rights.As part of Company efforts,the general process for proposing an agenda item is posted on our website to ensure shareholders are well informed of their rights to conveniently express their opinions to management.The right to propose agenda items will continue to be safeguarded:the Company will review all proposals from a legal perspective,follow due process,and if appropriate submit them as an agenda item for the AGM.4)Shareholder return policy (Specific Principle 1-)Corporations should establish a mid-to long-term shareholder return policy and relevant plans,which includes those for dividends,and provide the information to shareholders.A.Shareholder return policy and relevant plans In addition to strengthening our product and business competitiveness,we work to enhance shareholder value via shareholder returns.In October 2017,we announced our shareholder return program for the coming three-year period(i.e.,20182020),increasing predictability of the scale of our shareholder return activities.Under this policy,we returned 50%of our total free cash flow for the three-year period,which included regular dividends of KRW 28.9 trillion(KRW 9.6 trillion/year)and a special dividend of KRW 10.7 trillion that was paid out with the end-year dividend for 2020.In January 2021,we announced the shareholder return policy for the three-year term from 2021 to 2023,and we plan to keep the shareholder return pool at 50%of the annual free cash flow in line with the policy.The annual,regular dividend has been increased to KRW 9.8 trillion,so increased dividends(compared to the previous policy)have been paid from 1Q21.Also,if a significant amount of expected return has been generated,we will actively consider executing a portion of it at the close of each years results.For reference,the Company started distributing quarterly dividends from 1Q17 to enhance shareholder value by providing a consistent amount of dividends throughout the year.When establishing return policies,distributing dividends,or repurchasing shares,we immediately disclose the information to our shareholders and also provide details via earnings calls and our website.Additionally,we provide information on shareholder return by uploading the Letter to Shareholders on the IR website,and shareholders can conveniently check their dividends on a dividend-check service,which can be accessed via the Companys mobile app.-9-B.Information on shareholder return policy We are working to ensure that shareholders are well informed on our shareholder return policy,which aligns with our efforts to protect shareholder rights.The Company will continue to do our best to keep shareholders up-to-date.5)Shareholder return status(Specific Principle 1-)Shareholders rights to receive dividends in accordance with shareholder return policy and relevant plans should be respected.A.Dividend payouts Despite a challenging business environment domestically and globally,regular dividends of KRW 9.6 trillion were paid annually according to the shareholder return policy for the three-year term from 2018 to 2020.In 2020,the last year of the three-year term,a special dividend of KRW 10.7 trillion(KRW 1,578 per share)was paid with the end-year dividend for 2020 as part of the policy.In 2021,regular,annual dividends increased to KRW 9.8 trillion and have been distributed according to the newly announced policy for the three-year term from 2021 to 2023.The specifics of distributions over the last three years are shown below.(KRW)Year Settlement month Share type Stock dividend Cash dividend Dividend per share Total dividends Yield*Payout ratio Consolidated Separate 2021 December Common-1,444 8,620,366,002,200 1.8%.01.7%Preferred-1,445 1,189,071,281,500 2.0 20 December Common-2,994 17,873,528,954,700 4.0 x.00.2%Preferred-2,995 2,464,545,666,500 4.2 19 December Common-1,416 8,453,212,090,800 2.6D.7b.7%Preferred-1,417 1,166,030,453,900 3.1%Yield is based on the average closing price of the week prior to 2 days before the date of record.The Company has not distributed unequal dividends in the recent three years.We distributed interim dividends until 2016 and started distributing quarterly dividends from 2017.Details are shown in the following table:(KRW)Year Quarter Share type Dividend per share Total dividend Date of Board resolution Face value 2021 1Q Common 361 2,155,091,500,550 Apr 29,2021 100 Preferred 361 297,062,098,700 2Q Common 361 2,155,091,500,550 Jul 29,2021 Preferred 361 297,062,098,700 3Q Common 361 2,155,091,500,550 Oct 28,2021 Preferred 361 297,062,098,700 4Q Common 361 2,155,091,500,550 Jan 27,2022 Preferred 362 297,884,985,400 2020 1Q Common 354 2,113,303,022,700 Apr 29,2020 100 Preferred 354 291,301,891,800 2Q Common 354 2,113,303,022,700 Jul 30,2020 Preferred 354 291,301,891,800 3Q Common 354 2,113,303,022,700 Oct 29,2020 Preferred 354 291,301,891,800 4Q Common 1,932 11,533,619,886,600 Jan 28,2021 -10-Preferred 1,933 1,590,639,991,100 2019 1Q Common 354 2,113,303,022,700 Apr 30,2019 100 Preferred 354 291,301,891,800 2Q Common 354 2,113,303,022,700 Jul 31,2019 Preferred 354 291,301,891,800 3Q Common 354 2,113,303,022,700 Oct 31,2019 Preferred 354 291,301,891,800 4Q Common 354 2,113,303,022,700 Jan 30,2020 Preferred 355 292,124,778,500 B.Determining shareholder return amount We strive to enhance shareholder value through proactive shareholder returns,which includes dividends.We determine the dividend amount based on overall aspects of our business,including results achieved through our differentiated technology,strategic investments for sustainable growth,and cash flow.The Company will continue to strive to protect shareholder value via sustainable growth and appropriate shareholder return policies.-11-(2)Equitable treatment of shareholders (Core Principle 2)Equitable treatment of shareholders All shareholders should be provided equal voting rights in accordance with the type and number of their shares.Corporations should make efforts to build a system that makes corporate information available to all shareholders equally.1)Equitable provision of information(Specific Principle 2-)Shareholders voting rights should not be violated.Corporations should provide sufficient information in a timely and equal manner to all shareholders.A.Issued shares and categories of shares The number of authorized shares in accordance with our Articles of Incorporation is 25 billion,including 5 billion preferred shares.The total number of shares outstanding as of the reporting date was 6,792,669,250,including 5,969,782,550 common shares and 822,886,700 preferred shares.The issuance ratios of common shares and preferred shares are 29.85%and 16.46%,respectively.Preferred shares do not carry voting rights and receive an annual cash dividend that is 1%higher than common shares do based on face value.If dividends are not distributed for common shares,preferred shares may not receive dividends.In the past three years,a general meeting of a specific class of shareholders has not been held as the requirements for convocation have not been met.Share type Number of authorized shares Number of issued shares*Issuance ratio Note Common 20,000,000,000 5,969,782,550 29.85%-Preferred 5,000,000,000 822,886,700 16.46%-*As of December 31,2021 B.Voting rights We continue to work to ensure our shareholders receive fair treatment and the rights of minority shareholders are protected.The Company adheres to the one-share-one-vote rule and strives to secure equitable voting rights in accordance with the Commercial Act and relevant laws.C.Communication with shareholders (i)Investors Relations(IR)events The Company holds earnings conference calls at the end of January,April,July,and October to report its financial results for the preceding year,first quarter,second quarter and third quarter,respectively.Also,we conduct our Investor Forum at least once a year to help shareholders better understand our business by providing information in areas of high investor interest.In addition,we continue to engage in and strengthen communication with our shareholders by participating in IR events such as conferences organized by brokerages,investor meetings,etc.Information on IR events from the beginning of FY21 up to the disclosure date is presented below and is also available our website(https:/ the start of FY21 to the disclosure date,we held no official events with minority shareholders that enabled direct conversations,but we have maintained communication through various means.First,we provide live webcasts of key events,such as earnings conference calls and our Investor Forum,for minority shareholders to listen to.In addition,we actively communicate with minority shareholders,including by assigning an employee exclusively responsible for taking phone calls from minority shareholders,disclosing an email address(on our website)dedicated to answering questions,and opening a method to collect questions on our website before key events.Date Participants Form Contents Note 2022 May 23-27 Foreign institutional investors NDR Business performance and outlook Daiwa Conference May 17 Foreign institutional investors Conference call Business performance and outlook Korea Investment&Securities Conference -12-Date Participants Form Contents Note May 813 Foreign institutional investors NDR Business performance and outlook Overseas roadshow Apr 2829 Domestic institutional investors Conference call Business performance and outlook Domestic roadshow Apr 28 Domestic/foreign institutional investors Conference call 1Q22 Business results and Q&A 1Q22 earnings release Mar 30 Foreign institutional investors Conference call Business performance and outlook CS Conference Mar 24 Foreign institutional investors Conference call Business performance and outlook BoAML Conference Mar 8 Foreign institutional investors Conference call Business performance and outlook Daiwa Conference Mar 3 Foreign institutional investors Conference call Business performance and outlook Citi Conference Feb 25 Foreign institutional investors Conference call Business performance and outlook JP Conference Feb 15 Foreign institutional investors Conference call Business performance and outlook GS Conference Feb 310 Foreign institutional investors Conference call Business performance and outlook Overseas roadshow Jan 2728 Domestic institutional investors Conference call Business performance and outlook Domestic roadshow Jan 27 Domestic/foreign institutional investors Conference call 4Q21 Business results and Q&A 4Q21 earnings release 2021 Dec 9 Foreign institutional investors Conference call Business performance and outlook Nomura Conference Dec 7 Foreign institutional investors Conference call Business performance and outlook UBS Conference Dec 2 Domestic institutional investors Conference call Business performance and outlook NH Investment&Securities Conference Nov 22 Domestic institutional investors Conference call Business performance and outlook Kiwoom Securities Conference Nov 16 Domestic/foreign institutional investors Conference call Business performance and outlook 2021 Investors Forum Nov 12 Domestic institutional investors Conference call Business performance and outlook Shinhan Investment Corporation Conference Nov 11 Foreign institutional investors Conference call Business performance and outlook JP Conference Nov 910 Foreign institutional investors Conference call Business performance and outlook Korea Investment&Securities Conference Nov 15 Foreign institutional investors NDR Business performance and outlook Overseas roadshow Oct 2829 Domestic institutional investors Conference call Business performance and outlook Domestic roadshow Oct 28 Domestic/foreign institutional investors Conference call 3Q21 Business results and Q&A 3Q21 earnings release Sep 28 Domestic institutional investors Conference call Business performance and outlook Daishin Securities Conference Sep 27 Domestic institutional investors Conference call Business performance and outlook eBest Investment&Securities Conference Sep 16 Foreign institutional investors Conference call Business performance and outlook CSLA Conference -13-Date Participants Form Contents Note Sep 8 Foreign institutional investors Conference call Business performance and outlook KB Securities Conference Sep 7 Foreign institutional investors Conference call Business performance and outlook CS Conference Sep 12 Foreign institutional investors Conference call Business performance and outlook HSBC Conference Aug 19 Foreign institutional investors Conference call Business performance and outlook BoAML Conference Aug 17 Foreign institutional investors Conference call Business performance and outlook GS Conference Aug 26 Foreign institutional investors Conference call Business performance and outlook Overseas roadshow Jul 2930 Domestic institutional investors Conference call Business performance and outlook Domestic roadshow Jul 29 Domestic/foreign institutional investors Conference call 2Q21 Business results and Q&A 2Q21 earnings release Jun 29 Domestic institutional investors Conference call Business performance and outlook Hana Financial Investment Conference Jun 24 Foreign institutional investors Conference call Business performance and outlook UBS Conference Jun 2 Foreign institutional investors Conference call Business performance and outlook BoAML Conference Jun 24 Foreign institutional investors Conference call Business performance and outlook Citi Conference May 31Jun 4 Foreign institutional investors Conference call Business performance and outlook Nomura Conference May 2021 Foreign institutional investors Conference call Business performance and outlook Korea Investment&Securities Conference May 1721 Foreign institutional investors Conference call Business performance and outlook Daiwa Conference May 1718 Foreign institutional investors Conference call Business performance and outlook NH Investment&Securities Conference Apr 2930 Domestic institutional investors Conference call Business performance and outlook Domestic roadshow Apr 29 Domestic/foreign investors Conference call 1Q21 Business results and Q&A 1Q21 earnings release Apr 1516 Foreign institutional investors Conference call Business performance and outlook Daiwa Conference Mar 25 Foreign institutional investors Conference call Business performance and outlook CS Conference Mar 18 Foreign institutional investors Conference call Business performance and outlook BoAML Conference Mar 12 Foreign institutional investors Conference call Business performance and outlook KB Securities Conference Mar 8 Foreign institutional investors Conference call Business performance and outlook Daiwa Conference Mar 5 Foreign institutional investors Conference call Business performance and outlook Citi Conference Feb 26 Foreign institutional investors Conference call Business performance and outlook GS Conference Feb 26 Foreign institutional investors Conference call Business performance and outlook JP Conference Feb 15 Foreign institutional investors Conference call Business performance and outlook Overseas roadshow Jan 2829 Domestic institutional investors Conference call Business performance and outlook Domestic roadshow Jan 28 Domestic/foreign investors Conference call 4Q20 Business results and Q&A 4Q20 earnings release -14-(ii)IR website To meet increasing shareholder demand for information,we provide a wide range of in-depth IR material to enhance the understanding of and confidence in the Company.We have worked to increase ease of access to necessary and useful information via our user-friendly website,which provides details on public disclosures,IR events,financial information,stock information,corporate governance,etc.Also,our Articles of Incorporation,business reports,financial information,and corporate information materials can be downloaded and major events are broadcast live on the website as part of our ongoing efforts to help investors access Company information.In addition,we provide the contact information(phone number and email address)of the IR team on our website(https:/ enable convenient communication with shareholders.(iii)Provision of English material All materials are provided on our English website(https:/ provide shareholders with easy access to necessary information.We also provide the contact information(phone number and email address)of the IR team on our global website(https:/ enable convenient communication for non-Korean shareholders.As we list GDRs on the London Stock Exchange(LSE)and the Luxembourg Stock Exchange(LuxSE),we submit English disclosures via both the LSE and LuxSE system.In addition,we submit a separate English disclosure via the Korea Exchanges(KRX)Korea Investors Network for Disclosure System(KIND)and provide disclosures on our English website for the convenience of non-Korean shareholders.LSE website:http:/ website:https:/www.bourse.lu/KRX:https:/engkind.krx.co.kr/English IR website:https:/ following is the list of English disclosures submitted via KIND since the beginning of FY21 as of the disclosure date.Disclosure date Title Content Apr 28,2022 Decision on Cash Dividends and Dividends in Kind 1Q22 Dividend payout Apr 28,2022 Report on Business Performance according to Consolidated Financial Statements(Fair Disclosure)1Q22 Earnings release Apr 7,2022 Organization of Investor Relations Event Information on 1Q22 earnings call Apr 7,2022 Report on Business Performance according to Consolidated Financial Statements(Fair Disclosure)1Q22 Pre-Earnings Guidance Mar 16,2022 Notice on Change of CEO Change of CEO Mar 16,2022 Outcome of Annual Shareholders Meeting Annual Shareholders Meeting results Feb 16,2022 Decision on Calling Shareholders Meeting Convocation notice for Annual Shareholders Meeting Feb 15,2022 Notice on Change of CEO Change of CEO Jan 27,2022 Decision on Cash Dividends and Dividends in Kind 4Q21 Dividend payout Jan 27,2022 Report on Business Performance according to Consolidated Financial Statements(Fair Disclosure)4Q21 Earnings release Jan 7,2022 Organization of Investor Relations Event Information on 4Q21 earnings call Jan 7,2022 Report on Business Performance according to Consolidated Financial Statements(Fair Disclosure)4Q21 Pre-Earnings Guidance Nov 10,2021 Organization of Investor Relations Event Information on 2021 Investors Forum Oct 28,2021 Decision on Cash Dividends and Dividends in Kind 3Q21 Dividend payout Oct 28,2021 Report on Business Performance according to Consolidated Financial Statements(Fair Disclosure)3Q21 Earnings release Oct 8,2021 Organization of Investor Relations Event Information on 3Q21 earnings call Oct 8,2021 Report on Business Performance according to Consolidated Financial Statements(Fair Disclosure)3Q21 Pre-Earnings Guidance Jul 29,2021 Decision on Cash Dividends and Dividends in Kind 2Q21 Dividend payout -15-Jul 29,2021 Report on Business Performance according to Consolidated Financial Statements(Fair Disclosure)2Q21 Earnings release Jul 7,2021 Organization of Investor Relations Event Information on 2Q21 earnings call Jul 7,2021 Report on Business Performance according to Consolidated Financial Statements(Fair Disclosure)2Q21 Pre-Earnings Guidance Apr 29,2021 Decision on Cash Dividends and Dividends in Kind 1Q21 Dividend payout Apr 29,2021 Report on Business Performance according to Consolidated Financial Statements(Fair Disclosure)1Q21 Earnings Release Apr 7,2021 Organization of Investor Relations Event Information on 1Q21 earnings call Apr 7,2021 Report on Business Performance according to Consolidated Financial Statements(Fair Disclosure)1Q21 Pre-Earnings Guidance Mar 17,2021 Outcome of Annual Shareholders Meeting Annual Shareholders Meeting results Feb 16,2021 Decision on Calling Shareholders Meeting Convocation notice for Annual Shareholders Meeting Jan 28,2021 Decision on Cash Dividends and Dividends in Kind 4Q20 Dividend payout Jan 28,2021 Report on Business Performance according to Consolidated Financial Statements(Fair Disclosure)4Q20 Earnings Release Jan 8,2021 Organization of Investor Relations Event Information on 4Q20 earnings call Jan 8,2021 Report on Business Performance according to Consolidated Financial Statements(Fair Disclosure)4Q20 Pre-Earnings Guidance(iv)Public disclosure of corporate information We make disclosures in a timely manner to provide detailed corporate information to shareholders.For high-interest information,such as business results,investment plans,and shareholder return policy,we provide disclosures before making an external announcement,and the specifics of public disclosures since the beginning of FY21 as of the disclosure date are shown below.Since 2Q09,the Company has been providing earnings guidance approximately three weeks prior to the earnings call to improve investor understanding.Disclosure date Title/content Apr 28,2022 2022 1Q Earnings Release Apr 07,2022 1Q 2022 Pre-Earnings Guidance Jan 27,2022 2021 4Q Earnings Release Jan 07,2022 4Q 2021 Pre-Earnings Guidance Oct 28,2021 2021 3Q Earnings Release Oct 08,2021 3Q 2021 Pre-Earnings Guidance Jul 29,2021 2021 2Q Earnings Release Jul 07,2021 2Q 2021 Pre-Earnings Guidance Apr 29,2021 2021 1Q Earnings Release Apr 07,2021 1Q 2021 Pre-Earnings Guidance Jan 28,2021 Shareholder return policy for 20212023 Jan 28,2021 2020 4Q Earnings Release Jan 08,2021 4Q 2020 Pre-Earnings Guidance (v)Unfaithful disclosure corporation designation The Company is committed to legal and regulatory compliance.We deliver information promptly and accurately via thorough planning and reviews,awareness of the need for public disclosures in advance,and regular inspections.Thanks to these efforts,the Company has never received an unfaithful disclosure corporation designation.D.Provision of corporate information We will continue to provide information to shareholders in a timely manner and distribute it fairly,via IR activities,webcasting of major conference calls,timely public disclosures,and our website.-16-2)Related-party transactions and self-dealing transactions(Specific Principle 2-)The Company should establish and operate a system to protect shareholders from wrongful related-party and self-dealing transactions of other shareholders,including controlling shareholders.(i)Internal control system for related-party and self-dealing transactions The Company has internal regulations to prevent related-party or self-dealing transactions that are in managements or a controlling shareholders own interests.In accordance with Article 40 of the Articles of Incorporation,the Board has the authority over approval of related party transactions;and Article 10 Paragraph 3 of the Regulations of the Board provides that approval of related party transactions and approval of transactions between the Company and director shall be approved by the Board.The Company has voluntarily established the Related Party Transaction Committee within the Board to review related party transactions,aiming to enhance corporate transparency by building a compliance system that promotes fair transactions.The Committee,consisting entirely of Independent Directors,conducts preliminary reviews and approves related party transactions that are worth KRW 5 billion or above in accordance with the Monopoly Regulation and Fair Trade Act,and other transactions that are deemed significant.Also,the Committee receives reports on related party transactions with affiliates and can request a detailed investigation.For related party transactions that materially violate relevant laws or regulations of the Company,the Committee has the right to propose corrective measures to the Board.In addition,the Board in February 2017 reinforced procedures related to executing external financial donations.We created an External Sponsorship Council to conduct preliminary reviews of donations of over KRW 10 million,while donations exceeding KRW 1 billion require the approval of the Board and are voluntarily disclosed.Details of the Companys donations are reported quarterly to the Audit Committee,which consists entirely of Independent Directors.(ii)Comprehensive resolutions of the Board on related party transactions with subsidiaries,etc.and self-dealing transactions with executives or controlling shareholders,etc.)Pursuant to Article 542-9 of the Commercial Act and Article 35 of the Enforcement Decree of the same Act,“Transactions with Interested Persons Including Major Shareholders”,the Company obtains comprehensive approval of the Board in advance for the estimated total amount of transactions with a subsidiary during the business year that are anticipated to take up 5%or more of the total assets or gross sales of the Company as at the end of the latest business year.In 2021,the Board made eight comprehensive approval of transactions with overseas subsidiaries to be made in 2022.Pursuant to Article 26 of the Monopoly Regulation And Fair Trade Act and Article 33 of the Enforcement Decree of the same Act,“Resolutions by Board of Directors on Large-Scale Internal Trading and Disclosure”,transaction with an affiliate at least 20%of the total number of shares issued by which is held by the same person,either alone or together with his or her relatives or an affiliate that is a subsidiary,as provided for in the Commercial Act,of said affiliate in which the quarterly trading amount of goods and services is KRW 5 billion or more is subject to approval by the board of directors and disclosure.However,in accordance with Article 9-2 of the Regulation on resolution by the board of directors and disclosure on large-scale internal trading,transactions within the designated period of within a year may be approved at once so the Company receives the Boards approval of the estimated transaction amount for next year beforehand and discloses the details.(iii)Transactions with stakeholders(controlling shareholders,etc.)Credit offerings for affiliates and subsidiaries As of December 31,2021,SECs payment guarantees for affiliates,including Samsung Electronics America,Inc.(SEA)for financing purposes are shown below.(USD thousand)Company Relationship Creditor Guarantee start date Guarantee expiry date Limit of guarantee Transactions Interest Rate(%)Beginning of period End of period Beginning of period Increase/decrease End of period SEA Subsidiary BOA etc.Apr 16,2021 Dec 16,2022 1,328,000 1,328,000-SEM Subsidiary BBVA etc.Mar 28,2021 Dec 16,2022 485,000 906,000-SAMCOL Subsidiary Citibank etc.Jun 14,2021 Dec 16,2022 310,000 310,000 117,109(117,109)-SEDA Subsidiary BRADESCO etc.Sep 30,2021 Dec 16,2022 559,000 409,000-17-Company Relationship Creditor Guarantee start date Guarantee expiry date Limit of guarantee Transactions Interest Rate(%)Beginning of period End of period Beginning of period Increase/decrease End of period SECH Subsidiary Citibank etc.Jun 14,2021 Dec 16,2022 142,000 62,000-SEPR Subsidiary BBVA etc.Jun 01,2021 Dec 16,2022 230,000 150,000-SSA Subsidiary SCB etc.Jun 14,2021 Dec 16,2022 318,000 318,000-SEMAG Subsidiary SocGen etc.Nov 09,2021 Dec 16,2022 110,000 110,000-SETK Subsidiary BNP etc.Jun 14,2021 Dec 16,2022 837,000 807,000 169,280(67,005)102,275 19.9%SETK-P Subsidiary BNP etc.Nov 9,2021 Dec 16,2022-130,000-33,334 33,334 25.6%SECE Subsidiary Citibank etc.Jul 19,2021 Dec 16,2022 74,434 73,722-SEEG Subsidiary HSBC Jun 14,2021 Jun 13,2022 85,000 85,000-SEIN Subsidiary BNP etc.Jun 14,2021 Nov 08,2022 145,000 70,000-SJC Subsidiary Mizuho Bank etc.Apr 30,2021 Dec 16,2022 916,062 877,579-SEUC Subsidiary Credit Agricole etc.Jun 14,2021 Dec 16,2022 150,000 150,000-SEDAM Subsidiary Citibank etc.Jun 14,2021 Dec 16,2022 222,000 141,000-SECA Subsidiary BoA Nov 09,2021 Nov 08,2022 70,000 70,000-SELA Subsidiary Citibank Dec 17,2021 Dec 16,2022 120,000 120,000-SEEH Subsidiary HSBC etc.Jun 14,2021 Dec 16,2022 653,000 712,400-SERK Subsidiary SOCGEN etc.Jun 14,2021 Dec 16,2022 269,800 290,000-SELV Subsidiary Citibank Dec 17,2021 Dec 16,2022 10,000 10,000-SEIL Subsidiary Citibank Dec 17,2021 Dec 16,2022-15,600-10,947 10,947 1.35%SAPL Subsidiary BOA etc.Jun 14,2021 Dec 16,2022 395,000 345,000-SEV Subsidiary SCB Nov 09,2020 Feb 28,2022 15,000-SAVINA Subsidiary HSBC Jun 14,2021 Jun 13,2022 71,000 51,000-SET Subsidiary SCB Nov 09,2020 Feb 28,2022 30,000-SCIC Subsidiary HSBC etc.Jun 14,2021 Dec 16,2022 300,000 300,000-SME Subsidiary SCB Nov 09,2021 Nov 08,2022 110,000 110,000-SAMEX Subsidiary Citibank Dec 17,2021 Dec 16,2022 5,000 5,000-SEASA Subsidiary Citibank Dec 17,2021 Dec 16,2022 2,000 2,000-SSAP Subsidiary SCB Nov 09,2021 Nov 08,2022 30,000 35,000-SEPM Subsidiary HSBC Jun 14,2021 Jun 13,2022 35,000 35,000-SESAR Subsidiary HSBC Jun 14,2021 Jun 13,2022 50,000 50,000-AdGear Technologies Inc.Subsidiary BOA Nov 09,2021 Nov 08,2022 2,000 2,000-Harman International Industries,Inc.Subsidiary JP Morgan Jun 14,2021 Jun 13,2022 100,000 100,000-Harman International Japan Co.,Ltd.Subsidiary MUFG Nov 09,2021 Nov 08,2022 25,000 25,000-Harman RUS CIS LLC Subsidiary SocGen Nov 09,2021 Nov 08,2022 15,000 15,000-Harman Holding Limited Subsidiary HSBC Jun 14,2021 Jun 13,2022 30,000 30,000-Harman do Brasil Industria Eletronica e Participacoes Ltda.Subsidiary SocGen Nov 09,2021 Nov 08,2022 15,000 15,000-18-Company Relationship Creditor Guarantee start date Guarantee expiry date Limit of guarantee Transactions Interest Rate(%)Beginning of period End of period Beginning of period Increase/decrease End of period Harman da Amazonia Industria Eletronica e Participacoes Ltda.Total 8,264,296 8,265,301 286,389(139,833)146,556 On a separate basis.SEC claims fees on the debt guarantees depending on the maturity date of each debt guarantee,general loan interest rate,etc.In 2021,the Company claimed approximately USD 266,000 as guarantee fee and,as of the reporting date,has not collected the amount.Acquisitions and disposals of assets with affiliates and subsidiaries In 2021,the Company sold assets to affiliates,including to Samsung China Semiconductor LLC.(SCS)for its facility equipment expansion,while acquiring assets from affiliates to improve efficiency of domestic production.(KRW mil)Company Relationship Transaction type Transaction date1)Asset Transaction purpose Amount2)Gain or loss on disposal SCS Affiliates Asset sale/purchase Dec 28,2021 Machinery,etc.Enhance capacity and production efficiency 199,913 119,712 SESS Affiliates Asset sale/purchase Oct 19,2021 Machinery,etc Enhance capacity and production efficiency 14,451 775 SAS Affiliates Asset sale/purchase Oct 22,2021 Machinery,etc.Enhance capacity and production efficiency 8,694 730 SEHC Affiliates Asset sale/purchase Dec 9,2021 Machinery,etc Enhance capacity and production efficiency 4,122 81 SIEL Affiliates Asset sale Jun 14,2021 Machinery,etc Enhance capacity and production efficiency 2,609 356 Samsung Bioepis Affiliates Asset sale May 13,2021 Machinery,etc.Enhance capacity and production efficiency 2,371 51 SEV Affiliates Asset sale/purchase Dec 1,2021 Machinery,etc.Enhance capacity and production efficiency 2,033 625 SEVT Affiliates Asset sale/purchase Dec 24,2021 Machinery,etc.Enhance capacity and production efficiency 1,797 208 Samsung SDI Affiliates Asset sale Feb 17,2021 Machinery,etc.Enhance capacity and production efficiency 269 181 SEDA Affiliates Asset sale Jul 23,2021 Machinery,etc.Enhance capacity and production efficiency 403 170 SEIN Affiliates Asset purchase Jan 11,2021 Machinery,etc.Enhance capacity and production efficiency 162-TSEC Affiliates Asset purchase Mar 24,2021 Machinery,etc.Enhance capacity and production efficiency 102-On a separate basis.1)Most recent transaction.2)Calculated by an appropriate method based upon market value assessment.Transaction was made under normal conditions(e.g.,terms of cash payment within the 15th,30th of the following month of transaction).Business transactions with affiliates and subsidiaries In 2021,SEC conducted the following business transactions,including purchase and sales with Samsung Electronics America,Inc.(SEA),etc.(KRW mil)Subsidiary Type of transaction Transaction date Items/assets Transaction value SEA Sales,purchases,etc.JanDec 2021 HHPs and home appliances,etc.33,025,957 SSI Sales,purchases,etc.JanDec 2021 Semiconductors,etc.32,303,859 SEVT Sales,purchases,etc.JanDec 2021 HHPs,etc.30,527,566 SSS Sales,purchases,etc.JanDec 2021 Semiconductors,etc.25,687,821 SEV Sales,purchases,etc.JanDec 2021 HHPs,etc.22,040,207 On a separate basis.Transactions worth 5%and above of revenue.-19-Transactions with stakeholders other than affiliates and subsidiaries As of December 31,2021,the Companys outstanding loan amount is approximately KRW 114.6 billion for obligations related to support for supplier companies for product competitiveness and mutual development as well as home loan and educational expenses for employee welfare.(KRW mil)Company Relation Loans Account title Transaction Period start Change Period end Elentec Co.,Ltd.,etc.Partner company and employee Short-term loans 32,818 10,181 42,999 Bumjin I&D,etc.Partner company and employee Long-term loans 81,283(9,679)71,604 Total 114,101 502 114,603 On a separate basis.3)Measures to protect shareholder rights(Specific Principle 2-)Corporations should devise measures to protect shareholders,including collecting opinions of minority shareholders and protecting the rights of dissident shareholders,when there is a change in the corporations ownership structure or main businesses,such as merger,transfer of business,spin-off,and comprehensive exchange and transfer of stock.A.Policies to protect shareholders on issues that cause significant changes to the companys ownership structure or business The Company continues its efforts to protect the interests and rights of minority shareholders,including by actively collecting feedback from minority shareholders and improving access to information.First,we operate a hotline through which minority shareholders can conveniently ask questions,and we provide an email address on our website to ensure they can easily submit questions and receive feedback.Moreover,we established a system to allow shareholders to make inquiries online prior to quarterly earnings calls and the AGM;and questions on topics that garner a high level of interest are answered during the corresponding event.Thus,we are endeavoring to actively communicate with shareholders and collect their opinions for consideration in our major policies.In addition,we provide a webcast of our key events to enhance access to information,a livestream of the AGM to ensure shareholders have an option to watch the proceedings without physically participating in the event,as well as various information on our revamped website in which the design,headings,etc.have been adjusted to user convenience.We have various channels to collect the opinions of shareholders on issues that cause significant changes to the Companys ownership structure or business,but we do not yet have policies related to protecting the rights of dissident shareholders,etc.However,we will remain committed to actively communicating with and reflecting the voices of our shareholders before making important decisions,and we will review establishing concrete policies over the mid-to long-term.B.Outcome of implementing the policies to protect shareholders against the occurrence of significant issues and future plans No merger,crucial transfer of business,spin-off(including physical spin-off),or comprehensive exchange and transfer of stock that causes a significant change in the Companys ownership structure or main businesses occurred during the reporting period,and we do not have detailed plans on such issues.If such issues arise in the future,Samsung will ensure we collect various opinions from shareholders beforehand and work to produce measures to protect the rights of dissident shareholders to maximize shareholder value.-20-3.Board of Directors (1)Roles and responsibilities(Core Principle 3)Role and responsibilities of the Board The Board of Directors should establish business goals and strategies for the interests of the corporation and shareholders and supervise management effectively.1)Effective implementation of Board role(Specific Principle 3-)The Board of Directors should perform the decision-making and supervisory functions effectively.A.Board system The Board is an essential body of a listed company that makes strategic decisions on important business matters from a multi-faceted perspective and through independent oversight of management.The Company operates its Board and supports Boards activities by establishing an institutional framework such as the Articles of Incorporation and Regulations of the Board of Directors.(i)Matters to be resolved The Board makes resolutions on matters according to the relevant laws,Articles of Incorporation,and Regulations of the Board of Directors on important matters related to the Companys management policies and business operations.In accordance with the Articles of Incorporation,matters to be submitted to the Board are as follows:Matters to be resolved by the Board in accordance with the Articles of Incorporation 1.Establishment of factories,branches,representative offices or business offices in and outside the country 2.Preferred dividend yield on preferred shares 3.Retirement of treasury shares 4.Transfer agent,the location of its services and the scope of its operation 5.Matters related to issuance of new shares-Disposal of forfeited and fractional shares-Allocation of new shares to persons other than shareholders 6.Issuing new shares via public offering related conditions 7.Matters related to stock options-Granting stock options to officers and employees(excluding directors)-Cancelation of grant of stock options 8.Closing register of shareholders and the record date for occasions such as a convocation of a special meeting of shareholders 9.Matters related to issuance of convertible bonds -Disposal of forfeited and fractional shares -Issuance of convertible bonds to persons other than shareholders-Convertible bonds issued on the condition that rights will be attached to only a portion of convertible bonds-Conversion price when issuing convertible bonds to persons other than shareholders-Adjustment of conversion period 10.Matters related to issuance of bonds with warrants -Disposal of forfeited and fractional shares-Issuance of bonds with warrants to persons other than shareholders and the face value-Amount of new shares which can be subscribed for by the holders of the bonds-Face value when issuing bonds with warrants to persons other than shareholders -21-Adjustment of the period during which the warrant holder may exercise his/her right to subscribe for new shares 11.Convocation of a general meeting of shareholders 12.Chairman of the general meeting of shareholders when a CEO is imprisoned 13.Appointment of CEOs 14.Selection of Chairman,Vice-Chairman,President,Executive Vice President,Senior Vice President,Vice President 15.Responsibilities of President,Executive Vice President,Senior Vice President,Vice President 16.How proxy works when a CEO is unable to perform the role 17.Establishing committees within the Board 18.Matters related to the rights and operations of each committee 19.Appointment of the Chairman of the Board 20.Approval of concurrent positions held by Directors 21.Distribution of profit 22.Approval of related party transactions,etc.-Transactions made with related parties as defined in the Monopoly Regulation and Fair Trade Act or large-scale internal transactions for related parties as designated in Article 26 of the same Act-Transactions listed in Article 542-9 Section 3 of the Commercial Act with majority shareholders(including their related parties in accordance with the Commercial Act)or related parties(excluding transactions of which the total value has been approved by the Board,in accordance with Section 5 Clause 2 of the Article)23.Establishment and execution of specific rules needed for promotion and management of business In accordance with Article 10 of the Regulations of the Board of Directors,matters to be submitted to the Board are as follows:Matters to be resolved by the Board in accordance with the regulations of the Board 1.Convocation of a general meeting of shareholders and matters to be submitted to the meetings-Convocation of a general meeting of shareholders -Approval of business reports and financial statements -Amendment to the Articles of Incorporation -Reduction of capital -Dissolution,merger,and continuance of the Company -Transfer of the whole or an important part of the Companys business,or acquisition of the whole or an important part of other companies that has a material impact on the Companys business-Conclusion,alteration,or rescission of contracts regarding leasing the whole business,giving a mandate to manage such business or sharing with another party the entire profits and losses from the business or any similar contract-Ex post facto incorporation-Appointment or dismissal of directors-Issuance of stock below par value-Exemption of directors liabilities-Stock dividends-Decision to offer stock options-Remuneration of directors-Election of chairman of the general meeting of shareholders(in the case when the Board is required to appoint the chairman of the meeting)-Appointment of a person to convoke the general meeting of shareholders(in the case when the Board is required to appoint the chairman of the meeting)-Other matters to submit to the general meeting of shareholders 2.Matters related to management-Establishment of basic principles of the Companys management-Approval of management plans,quarterly reports,and semi-annual reports -22-Appointment or dismissal of compliance officers,and establishment,revision,or abolishment of compliance guidelines 3.Matters related to assets or financial affairs -Transfer of legal reserve to capital-Matters related to issuance of shares Issuance of new shares Issuance of convertible bonds and bonds with rights to subscribe for new shares-Acquisition,disposition,or retirement of treasury stocks-Approval of related party transactions,etc.Transactions made with related parties as defined in the Monopoly Regulation and Fair Trade Act or large-scale internal transactions for related parties as designated in Article 26 of the same Act Transactions listed in Article 542-9 Section 3 of the Commercial Act with majority shareholders(including their related parties)or related parties(excluding transactions of which the total value has been approved by the Board,in accordance with Section 5 Clause 2 of the Article)-Decision to offer stock options(excluding directors)-Investment in or disposal of equity in other companies with a value of 2.5%of the total equity-Direct overseas investments with a value of over 2.5%of the total equity-Asset revaluation-Stock split or reverse split-Material changes of accounting standards-New debt guarantees or collateral issuances with a value of over 2.5%of the total equity Collateral:Only in the case of providing collateral for others Guarantee:Excludes performance guarantee(e.g.,bid,contract,defect,difference guarantee)and tax payment guarantee -Loan contract with a value of over 5%of the total equity-Listing of its securities on overseas stock exchange-Important matters when setting up or withdrawing from a fund for stock buyback-Shares forfeited in a capital increase-Provisional payment or loan with a value of over 0.5%of the total equity-Donation,contribution,or sponsorship of over KRW 1 billion per year 4.Matters related to the Board,Board committees,etc.-Approval of Director holding a position in another company of a competitive and/or similar business field to the Company,and approval of transactions between a Director and the Company-Appointment of the Chairman of the Board-Appointment of the CEO and decision to appoint of co-CEOs-Appointment and removal of directors to positions and responsibilities-Establishment of committees and appointment or removal of committee members 5.Others-Amendment and abolishment of the Regulations of the Board of Directors and the regulations of each committee-Other matters provided for by relevant laws and regulations or the Articles of Incorporation,matters delegated by general meeting of shareholders,and matters deemed necessary by the CEO(ii)Matters to be resolved by the Board other than those mandated by relevant laws The Companys Articles of Incorporation and regulations of the Board of Directors stipulate that important matters,in addition to matters that are mandated by law,to be reviewed and approved by the Board.A prime example is the approval process for business management plans for the next year.The plan receives final approval at the Board so that the direction of the business is sufficiently discussed and opinions are collected.It is approved before quarterly and half-year reports are submitted,enabling a review on the implementation of management plans.In addition,all donations and social contributions over KRW 1 billion are to be resolved by the Board,enhancing the transparency of operating donations and social contribution funds and compliance of our management.Moreover,matters delegated at the general meeting of shareholders or deemed necessary by a CEO can be added to the subject of deliberation at the Board,ensuring that the Board reviews a variety of matters other than what is included in the Articles of Incorporation and regulations of the Board.-23-Matters to be reviewed and resolved by the Board in accordance with the Companys Articles of Incorporation and regulation of the Board,although not mandated by the laws,are as follows:1.Matters related to management,etc.-Resolution and revision of basic policy for business management-Approval of business plans,and quarterly and half-year reports-Establishment of factories,branches,representative offices or business offices in and outside the country 2.Matters related to finance,etc.-Acquisitions or disposals of equity investments with a value over 2.5%of the total equity-Direct overseas investments with a value over 2.5%of the total equity-Re-evaluation of asset-Significant changes in accounting standard-New debt guarantee or collateral issuance with a value over 2.5%of the total equity Collateral:Only in the case of providing collateral for others Guarantee:Excludes performance guarantee(e.g.,bid,contract,defect,difference guarantee)and tax payment guarantee-New credit agreement contract with a value over 5%of the total equity-Listing in overseas stock market-Important matters regarding application for or termination of treasury fund at investment and trust company -Loans and provisional payments over 0.5%of total equity -Annual donation,contribution,sponsorship over KRW 1 billion 3.Agenda items to be submitted to the AGM 4.Other matters delegated at the general meeting of shareholders and matters deemed necessary by a CEO (iii)Delegation of authority The Board can establish committees under the Board and delegate certain responsibilities to the committees in accordance with Article 28-2 of the Articles of Incorporation and Article 11-2 of the Regulations of the Board of Directors.Also,in accordance with Article 11 of the regulations of the Board,the decision can be delegated to a committee within the Board through a Board resolution,except as stipulated by relevant laws or Articles of Incorporation.Execution of matters resolved at board meetings is led by the Companys CEO.Management Committee 1.General management-Annual or mid-to long-term management policy and strategy-Key management strategy -Business planning and restructuring-Establishment,relocation,and withdrawal of overseas branches and corporations-Initiating cooperative efforts,such as strategic partnerships with foreign companies-Acquisition or disposal of domestic and overseas subsidiaries(provided the value of the transaction exceeds 0.1%of total equity)-Other major management matters-Establishment,relocation,and withdrawal of branches and operations-Appointment or dismissal of supervisors-Suspension or shutdown of production over 5%of the total production in the recent year-Licensing agreements,technology transfers,and technology partnerships of over 0.5%of the total equity-Acquisitions and transfers of patents related to new material and new technology of over 0.5%of the total equity-Collection and destruction of products corresponding to over 5%of the total sales in the recent business year-Contracting for over 5%of the total sales in the recent business year-Contracting or canceling of single sales agencies and suppliers over 5%of the total sales in the recent business year -24-Setting basic principles of organization management-Decision making on basic principles and any changes related to wages,bonuses,and fringe benefits-Appointments,dismissals,and changes of transfer agents-Closing of the shareholder register and setting the reference date-Establishing corporate guidelines for business and management related activities 2.Matters related to finance-Acquisitions or disposals of equity investments with a value no less than 0.1%and less than 2.5%of the total equity-Direct overseas investments with a value no less than 0.1%and less than 2.5%of the total equity-New debt guarantee(excluding extension of period)or collateral issuance with a value no less than 0.1%and less than 2.5%of the total equity Collateral:Only in the case of providing collateral for others Guarantee:Excludes performance guarantee(e.g.,bid,contract,defect,difference guarantee)and tax payment guarantee-New credit agreement contract(excluding extension of period)with a value no less than 0.1%and less than 5%of the total equity-Approval of related party transactions:Related party transactions with affiliates involving cash(loans and provisional payments),equity(stocks and bonds)or assets(such as real estate and intangible property rights)with a value no less than KRW 3 billion and less than 5 billion,as defined in the Monopoly Regulation and Fair Trade Act Excluding cases where existing contracts are renewed without significant changes.-Insurance of Corporate Bond -Acquisition and disposal of real estate with a value of over 0.1%of the total equity,provided the transaction is with the third party-Any matters that the CEO deems necessary and important for the business(e.g.,capex)3.All other matters except for those delegated to the Board and other committees in accordance with regulations of the Board.Audit Committee 1.Audit overall business of the Company,including tasks performed by the Board and the CEOs.2.Request Directors or employees to submit reports on the business operated by the Company or investigate the businesses or assets of the Company.3.Directors shall report to the committee immediately if they find any risks that can have a material impact on the Company.4.Any other authority granted to the committee by relevant laws and regulations,the Articles of Incorporation or a Board resolution Independent Director Recommendation Committee 1.Recommends Independent Director candidates to the Board to be presented at a general meeting of shareholders.Related Party Transactions Committee 1.Receives reports on related party transactions,conducts preliminary reviews on related party transactions exceeding KRW 5 billion before submission to the Board,and resolves transactions deemed significant by the secretary of the Committee 2.Right to order investigation of details on related party transactions 3.Right to propose corrective measures for related party transactions that are subject to serious violations of the law and regulations of the Company Compensation Committee 1.Propose a remuneration limit for Directors at the AGM 2.Establish a Director remuneration system 3.Other matters delegated by the Board Sustainability Committee 1.Matters related to sustainability management -25-Key strategies and policies on sustainability management-Report on key activities for sustainability management including environment,society,and governance-Plans for publishing the Companys Sustainability Report 2.Matters related to enhancing shareholder value-Preliminary review on shareholder return policies-Report on key issues related to shareholder rights and interest 3.Other matters that may significantly impact sustainability management and shareholder value that are deemed necessary for the Committee to discuss 4.Matters related to the establishment,composition,and operation of organizations under the Committee,including research groups,councils,etc.5.Other matters delegated by the Board B.Effectiveness of Board performance As the top decision making body of the Company,the Board supports executives to facilitate proper decision making and effectively oversees the work of the executives;it resolves important matters in addition to what is stipulated by the law and Articles of Incorporation and establishes committees which are delegated to review major issues.2)CEO succession plan(Specific Principle 3-)The Board of Directors should establish and implement a policy on the succession of chief executive officers(including an emergency nomination policy)and continue to improve these policies.(i)Establishing CEO succession plan and executor of the plan The Companys CEOs must possess excellent management skills;have abundant business experience and related knowledge;provide leadership that enables setting a clear vision for Company employees as well as external stakeholders,including shareholders;demonstrate an innovative mindset;and not fall under criteria for disqualification in accordance with the lawe.g.,the Commercial Act.Considering these qualities cannot be developed within a short period of time,we operate a system to nurture potential candidates and to systematically expand their roles based on high-level evaluation processes and training strategies.In order to promptly respond to unexpected events or changes in the business environment,we manage a pool of candidates from various backgrounds.The CEO succession procedure is as follows:From the pool of CEO candidates,who have been receiving training,the person best fitting the position with management and leadership competencies is recommended to the Board of Directors.Then the Board reviews the eligibility and confirms the candidate.Once the candidate is appointed as an Executive Director at the general meeting of shareholders,the Board conducts a final review and elects the person as CEO.If the CEO is unable to carry on with the position for any reason,including personal affairs,an acting CEO will be designated immediately as per the Articles of Incorporation.If it is necessary to appoint a new CEO based on the management environment,the succession procedure will be promptly implemented.Former CEOs may work as a non-registered executive,or sign a contract as an on-site advisor or consultant after retiring,to support succession activities.(ii)Selection,management,training of candidates The Company selects individuals to be included in the CEO candidate pool from our executives through an eligibility review every year.The two categories of the pool are:Ready now for candidates able to assume the role of CEO after 1-2 years of training;and Ready Later for candidates who will be ready in 3-5 years.The candidate pool is put together through discussions among key executives,including the CEOs.A candidate considered the best fit for a vacant CEO position,based on the strategic role the person has to play at the time,is recommended to the Board of Directors.Executives who are selected to the CEO candidate pool receive training in the Samsung business Leader Program(SLP).The program includes basic training to nurture the comprehensive competency necessary for the next-generation CEO,such as management strategies,leadership,and global competencies.On top of the basic training,candidates are provided with customized training,including job rotation to strengthen business experience and knowledge.-26-(iii)Training Sessions In 2021,ten executives in the pool of next-generation CEO candidates participated in the SLP and gathered to receive four,different week-long training sessions from April to October 2021.3)Internal control policy of the Board of Directors(Specific Principle 3-)The Board of Directors should establish and implement internal control systems(risk management,compliance,internal accounting management,disclosure information management,etc.)and continue to improve these policies.(i)Risk management A companys operation is continuously exposed to myriad risks that can occur in the business environment such as those related to the business,finance,and environmental safety.Risks related to the Companys management are managed at a fundamental level,and are addressed by relevant departments in the Company.However,issues of great importance are broken down by characteristic of the risk,and the Board and its committees are entrusted to supervise such issues.The roles and responsibilities of the Board and its Committees to manage risks are distinctly divided,with the Board overseeing changes in policies and regulations as well as the Companys overall business conditions;the Management Committee reviewing business operations;the Audit Committee supervising financial matters,including accounting transparency;the Related Party Transactions Committee managing risks in compliance with laws and ethics related to transactions with subsidiaries;and the Sustainability Committee reviewing risks of issues that may significantly impact shareholder value,such as those related to corporate social responsibility and shareholder return policy.In particular,in July 2021,the Governance Committee was reorganized to the Sustainability Committee to strengthen the Boards roles and responsibilities in sustainability management,including management of non-financial risks.The Sustainability Committee performs the responsibilities of the previous Governance Committee,such as implementing corporate social responsibility and enhancing shareholder value,and it expanded its discussions to agendas related to ESG,such as those related to climate change,circular economy,labor rights,diversity,supply chain,and ethical management,thereby reinforcing its role to provide direction for the Companys sustainability management and monitoring its achievements.To continue to secure market competitiveness as a leading global IT company and manage comprehensive risks across the whole company,including preemptively identifying external risks and performing the role as a control tower when unexpected issues arise,Samsung in 2022 newly established a Business Risk Management Group under the Corporate Management Team of the Corporate Management Office.The Company has established and is operating a system in which,upon discovery of a risk,relevant departments are summoned,a T/F is formed,and,after countermeasures are established,support is provided for executives in their decision making.Moreover,also in 2022,we further reinforced the Sustainability Council,putting it under direct oversight of the CEO;and the executives review various issues related to sustainability management,such as environment,social contribution,labor rights,health and safety,and ethical and compliance management,and subsequently report to the Board and Sustainability Committee depending on issues.Furthermore,we have an Internal Control Management Group that manages and operates regulations on internal accounting management,and we have established and are operating an internal accounting management system to increase the effectiveness and enhance the transparency of accounting information.Through the system,key tasks were broken down into 15 areas,the core control items are regularly evaluated and monitored,and the CEO reports the results to the Audit Committee,Board,and the AGM every year.(ii)Compliance,internal accounting,and disclosure Since 2012,we establish compliance standards and appoint the Head of Compliance Team as a Compliance Officer through a resolution of the Board,enabling compliance activities,in accordance with Article 542-13 of the Commercial Act and Article 10 of the regulation of the Board of Directors.In 2020 in particular,the Company implemented measures to strengthen legal compliance:we moved the Compliance Team,previously under the Legal Affairs Office,to directly under the leadership of the CEOs,strengthening its independence;and we also revised our compliance standards.As a result,the Compliance Officer reports to the Board at least twice per year on his or her activities,which include compliance oversight results,measures for establishing and maintaining a culture of compliance,and evaluations on the validity of the compliance control system.Also,the Officer attends all Board meetings and Board Committee meetings,such as Management Committee meetings,to support major decision making procedures.In order to ensure credibility in the Companys financial information and disclosures,we operate an internal accounting management system based on an internal accounting management regulation established in accordance with Article 8 of the Act on External Audit of Stock Companies,resolved by the Board in December 2001.The Company revised its internal accounting management regulations through a board -27-resolution in January 2019,as the Act on External Audit of Stock Companies was revised completely in October 2017 and went into effect in November 2018.In accordance with internal regulations,we have established a department which oversees the internal accounting management system activities and a department which supports tasks of the Audit Committee such as assessment of the internal accounting management system.Also,CEOs conduct an annual review on the effectiveness of the internal accounting management system and report the results at the general meeting of shareholders.SEC strictly complies with the relevant laws and is working to ensure that accurate information is disseminated fairly via public disclosures.The IR team and the Corporate Finance&Accounting Team,being responsible for disclosure activities,designate one supervisor and two deputy supervisors for public disclosure who participate in training sessions to continuously enhance their expertise.In addition,in order to strengthen the internal management structure,SEC established a regulation regarding management of publicly disclosed information,which determines the procedures of public disclosure and details relevant to managing publicly disclosed information.The responsible teams run weekly checks based on an internal disclosure management system to see if disclosures are required and notify the persons responsible for public disclosure activities if necessary.(iii)Other internal control policies We appointed a Chief Safety Officer(CSO)for each the DX Division and the DS Division in December 2021 and February 2022,respectively,and as of the disclosure date,the CSO oversees matters related to health and safety.The CSO has authority to make independent decisions,supervise,execute budgets,and appoint personnel on matters related to health and safety to create a safe environment for each worksite,prevent defects in products and equipment,and protect the health and safety of workers.-28-(2)Board composition(Core Principle 4)Composition of the Board The Board of Directors should be constituted to enable efficient decision making and oversight of management.Directors should be appointed in a transparent manner to reflect the opinions of shareholders.1)Organization of the Board and Independent Directors(Specific Principle 4-)The Board of Directors should be constituted to enable effective and thorough discussions and decision making,and should have a sufficient number of Independent Directors to be able to work independently from executives and controlling shareholders.A.Board composition(i)Board of Directors,Board committees,support team organization A general meeting of shareholders is one of the Companys highest decision-making body.It decides on and approves important issues concerning the Companys management,including the election of Directors,amendments to the Articles of Incorporation,approval of financial statements,etc.The Board oversees the managements tasks and makes resolutions on matters provided for by the relevant laws and regulations or the Articles of Incorporation,on matters delegated by a general meeting of shareholders,and on important matters concerning basic policies and execution of the Companys business.To further enhance board expertise,the Board delegates authority to six committees,with related departments tasked in a supporting role.-29-HR Team(7 members)Management Team(4 members)Auditing Team(4 members)Internal Accounting Support Group(3 members)Public Affairs Team(4 members)CEOs(DX,DS)Execution Organization General Meeting of Shareholders The Board of Directors(5 Executive Directors,4 Independent Directors)Sustainability Committee(4 Independent Directors)Independent Director Recommendation Committee(1 Independent Director)Compensation Committee(2 Independent Directors)Management Committee(5 Executive Directors)Audit Committee(3 Independent Directors)Related Party Transactions Committee(3 Independent Directors)Sustainability Council(3 members)On April 20,2022,Wha-jin Han vacated her position as an Independent Director citing personal reasons,and Byung-gook Park passed away on May 17,2022.Thus,the Company will appoint new Independent Directors at the first general meeting of shareholders convened after the vacating of the positions.-30-(ii)Board Composition The list of Directors as of the disclosure date is as follows.Name Sex(Age)Position/role Term Expertise Career Jong-hee Han M(60)Executive Director Head of Management Committee Mar 18,2020 Mar 17,2023 DX Division Vice Chairman&CEO Head of DX(Device eXperience)Division Kye-hyun Kyung M(59)Executive Director Management Committee Mar 16,2022 Mar 15,2025 DS Division President&CEO Head of DS(Device Solution)Division Tae-moon Roh M(53)Executive Director Management Committee Mar 16,2022 Mar 15,2025 MX Business President&CEO Head of MX(Mobile eXperience)Business Hark-kyu Park M(57)Executive Director Management Committee Mar 16,2022 Mar 15,2025 Corporate management President&Head of Corporate Management Office Jung-bae Lee M(55)Executive Director Management Committee Mar 16,2022 Mar 15,2025 Memory Business President&Head of Memory Business Han-jo Kim M(65)Chairman of the Board,Independent Director Head of Audit Committee Head of Sustainability Committee Related Party Transactions Committee Compensation Committee Mar 20,2019 Mar 19,2025(two consecutive terms)Finance,social contribution Former Chairman of Hana Foundation Former Vice-Chairman of Hana Financial Group Sun-uk Kim F(69)Independent Director Head of Related Party Transactions Committee Audit Committee Sustainability Committee Mar 23,2018 Mar 22,2024(two consecutive terms)Law Professor Emeritus of School of Law at Ewha Womans University Former Minister of Government Legislation Jeong Kim M(61)Independent Director Head of Independent Director Recommendation Committee Audit Committee Related Party Transactions Committee Sustainability Committee Mar 23,2018 Mar 22,2024(two consecutive terms)IT,business management President of Kiswe Mobile Former president of Alcatel-Lucent,Bell Lab Jun-sung Kim M(54)Independent Director Compensation Committee Sustainability Committee Mar 16,2022Mar 15,2025 Finance,investment CIO of National University of Singapore Endowment Fund Former Managing Director of Government of Singapore Investment Corporation(GIC)On April 20,2022,Wha-jin Han vacated her position as an Independent Director citing personal reasons,and Byung-gook Park passed away on May 17,2022.Thus,the Company will appoint new Independent Directors at the first general meeting of shareholders convened after the vacating of the positions.-31-Committee Composition Main role of the committee Note Title Position Name Sex Concurrent Management Committee(A)Head Executive Director Jong-hee Han M-Resolve matters related to management in general,finance,and those delegated by the Board of Directors Member Executive Director Kye-hyun Kyung M-Member Executive Director Tae-moon Roh M-Member Executive Director Hark-kyu Park M-Member Executive Director Jung-bae Lee M-Independent Director Recommendation Committee(B)Head Independent Director Jeong Kim M C,D,F Evaluate candidates for Independent Directors on their independence,diversity,and competence and make recommendations Audit Committee(C)Head Independent Director Han-jo Kim M D,E,F Auditing on Company-wide activities,including financial state Member Independent Director Sun-uk Kim F D,F Member Independent Director Jeong Kim M B,D,F Related Party Transactions Committee (D)Head Independent Director Sun-uk Kim F C,F Enhance transparency of management by voluntary compliance to fair transaction Member Independent Director Jeong Kim M B,C,F Member Independent Director Han-jo Kim M C,E,F Compensation Committee (E)Member Independent Director Han-jo Kim M C,D,F Secure objectivity and transparency of the process determining Director remuneration Member Independent Director Jun-sung Kim M F Sustainability Committee(F)Head Independent Director Han-jo Kim M C,D,E Governance Committee was expanded and reorganized in July 2021 Work to fulfill social responsibility and enhance shareholder value by pursuing sustainability management in the areas of ESG Member Independent Director Sun-uk Kim F C,D Member Independent Director Jeong Kim M B,C,D Member Independent Director Jun-sung Kim M E Wha-jin Han was appointed on March 16,2022 and was a member of Independent Director Recommendation Committee and Sustainability Committee,but she vacated her positions on April 20,2022,citing personal reasons.Byung-gook Park was appointed on March 17,2022 and was a member of Independent Director Recommendation Committee,Compensation Committee,and Sustainability Committee,but he passed away on May 17,2022.(iii)Independent Director number,portion,consecutive terms,etc.The Board shall have at least 3 but no more than 14 Directors,in accordance with Article 24 of the Articles of Incorporation.While having more than 3 Directors is in accordance with Article 383 of the Commercial Act,we believe,considering the size of the company,that the maximum number should not exceed 14 to ensure efficient decision-making at and management of meetings.As of the disclosure date,the Board consisted of 9 Directors,of which 4(or 44%)are Independent Directors.On March 16,2022 at the 53rd AGM,the Company appointed 3 Independent Directors to ensure that Independent Directors constitute a majority of the Board out of a total of 11 Directors,but on April 20,2022,Wha-jin Han vacated her position as an -32-Independent Director citing personal reasons,and Byung-gook Park passed away on May 17,2022.Consequently,Independent Directors temporarily do not constitute a majority of the Board as of the disclosure date.Thus,pursuant to Article 542-8 Paragraph 3 of the Commercial Act,new Independent Directors will be appointed at the first general meeting of shareholders convened after the vacating of the positions.Each director serves a 3-year term,although Independent Directors can serve 2 consecutive terms.At the AGM in 2021,Director Sun-uk Kim and Jeong Kim were reappointed and are serving their second term,and at the AGM in 2022,Director Han-jo Kim was reappointed and is serving his second term.(iv)Separation of CEO and Board Chairman positions Following a board resolution in March 2018,the roles of CEO and Chairman of the Board were separated to secure independence of the Board from executives and controlling shareholders.In February 2020,an Independent Director was appointed as the Chairman of the Board through a board resolution.In March 2022,Independent Director Han-jo Kim was appointed as the Chairman of the Board through a board resolution.B.Board independence and diversity The Board is composed in a way that promotes efficiency in meetings and decision making.However,on April 20,2022,Wha-jin Han vacated her position as an Independent Director citing personal reasons,and Byung-gook Park passed away on May 17,2022,so the Board is temporarily unable to fulfill the required ratio of Independent Directors prescribed in Article 542-8 Paragraph 1 of the Commercial Act.Pursuant to Article 542-8 Paragraph 3,new Independent Directors will be appointed at the first general meeting of shareholders convened after the vacating of the positions.The Company formed the Board striving to ensure diversity,considering factors such as expertise,sex,birthplace,nationality,etc.when appointing Directors.Independent Directors are chosen from those eligible in accordance with relevant laws with expertise and experience in finance,law,IT,ESG,investment,etc.,who can oversee management from an objective and external perspective.The Company separated the roles of Board Chairman and CEO to enhance board independence,and an Independent Director was appointed as Chairman of the Board.In addition,Independent Directors hold meetings that exclude Executive Directors to discuss current issues,such as increasing shareholder value,and freely express opinions among themselves.2)Board expertise and sense of responsibility(Specific Principle 4-)The Board of Directors should be composed of experts in various fields whose experience and sense of responsibility enable significant contributions to the management of the Company.A.Committee status(i)Expertise,sense of responsibility and diversity of the Board A rapidly changing management environment requires the Board of Directors to make strategic decisions.Therefore,each Director must be equipped with expertise,a sense of responsibility,and the ability to offer diverse opinions.To that end,the head of DX Division and head of DS Divisionour mainstay business divisionsparticipate as Executive Directors to practice responsible management in accordance with our internal policy.Alongside our Executive Directors,Independent Directors,who are experts in a variety of fields,including finance,law,IT,ESG,and investment,oversee business management from a balanced and independent perspective.The Company encourages diversity and does not limit Independent Director positions by nationality,gender,birthplace,religion etc.,to ensure the Board makes business decisions from a balanced perspective.Thus,we are doing our utmost to secure expertise,a sense of responsibility,and diversity of the Board.Executive Director Jong-hee Han is a top expert in the development of display technology,and he played a pivotal role in taking Samsungs TV business to the pinnacle of the global market and keeping it there for sixteen consecutive years.He was appointed as the CEO and Head of the DX Division,which was created by merging the Consumer Electronics(CE)Division and IT&Mobile Communications(IM)Division in 2022.In 2022,Executive Director Kye-hyun Kyung was also appointed as CEO in recognition of his expertise in technology and leadership capabilities as an expert in semiconductor,having developed core memory technologies,including the worlds first Direct Rambus DRAM and the worlds first Three-Dimensional Vertical NAND Flash Memory.Executive Director Tae-moon Roh is an expert in smartphones who developed Galaxy S,and as the Head of MX Business,delivered record results in 2021the highest since 2014achieving KRW 104 trillion in revenue by introducing innovative products such as S21 and foldables,and by reinforcing wearables,such as Galaxy Buds and Galaxy Watch.-33-Executive Director Hark-kyu Park is a leading finance expert,having held numerous key positions in core businesses,including corporate manager in Mexico,Head of the VD Business Support Group,Head of the MX Business Support Team,Head of SDS Business Operation,and Head of Corporate Management Office of the DS Division.As the Head of Corporate Management Office of the DX Division,who oversees the whole company,his core responsibilities include planning,finance,and HR,and he maximizes management achievements by managing resources effectively and by closely supporting busi
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2021 Sustainabilityand Social Impact ReportCEO Letter 3Business-at-a-Glance 4Our Approach and Governance 6Stakeholder Engagement 8 Supply Chain 10 People 13 Employees 13 Diversity,Equity and Inclusion 14 Protecting Our Planet 15 Digital Printing 15 Circularity 15 Waste 16 Materials 17 Partnerships 18Supporting Communities 19 SHEIN Cares 19 Empowering Entreprenuers 23Cybersecurity and Data Privacy 24Global Head of ESG Q&A 25Contents3Since SHEIN was founded in 2012,we have worked tirelessly toward our primary mission:making the beauty of fashion accessible to all.Throughout the past decade,we developed tools to help us fulfill that goal by implementing automation to optimize production efficiency and our supply chain,we were able to provide customers with an affordable range of hyper-trendy styles.We know that our customers appreciate the wide range of fashion and lifestyle products we provide.More importantly,they value the opportunity to express their unique perspectives on beauty through fashion.We are truly grateful for the support of our customers and are committed to ensuring that SHEINs business practices are aligned with their goals and values.As a major global e-tailer,we know that we have an important role to play in supporting the communities where we work,source,and live,and a responsibility to preserve the larger environment and planet we all share.We seek to take ownership of all the impacts of our business and operate for the long term in a way that benefits business and society.We will collaborate with governments,civil society and NGOs to drive systemic change.We look to the 17 Sustainable Development Goals(SDGs)to guide our sustainability and social impact work.We are working to assess the impact of SHEINs business socially and environmentally at all levels of our value chain.As we take ownership of SHEINs impact in the world,we can seize opportunities to use the company as a driver for social good,leveraging the SHEIN Cares Fund to support organizations tackling critical issues,financially supporting fashion entrepreneurs and investing in emerging technologies to reduce our environmental impact and make circularity a reality.We believe that we currently stand in a moment of opportunity.Stakeholders are more vocal than ever and there is a high demand for change across the fashion industry,which gives us a chance to develop initiatives that prove our commitment to responsible corporate citizenship.We are piloting a number of exciting first-of-its-kind initiatives from logistics to recycling,which will reduce waste at every stage of the product lifecycle.In addition,we are growing our partnerships with NGOs to support on-the-ground work aligned with our values.As we continue advancing sustainability and social impact,we understand that it is crucial to provide transparent communication about our progress,values and plan for the future.The following report is a first step toward providing that transparency an overview of who we are,the way we do business,and our commitment to the interests of our employees,suppliers,our shared planet and the fashion industry as a whole.Future reports will provide regular updates on the further development of SHEINs sustainability and social impact initiatives through all levels of our business and external corporate stewardship.Chris XuCEO of SHEINOur commitment to advancing sustainability and social impactCEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&A4SHEIN is a digital first fashion and lifestyle e-tailer with key operation centers in Singapore,China,the U.S.and other major global markets.We employ cutting-edge technologies and processes in our design and sourcing to stay well informed of what is in-demand by consumers,produce goods in a timely manner and deliver our products quickly to anywhere in the world.Our approach has led to widespread rapid growth our mobile apps have ranked within the top five most popular shopping apps in 10 markets and we have more than 250 million followers on our social media channels.SHEIN was founded in 2012 and has since grown to a team of nearly 10,000 employees selling to more than 150 countries.Women make up 58 percent of our global workforce and represent 40 percent of senior management.We believe that our workforce should mirror the diversity and creativity of our customers,which is why we set up local operations in key markets to build authentic connections with our global consumer base.CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&ABusiness-at-a-GlanceTotal female employees58%Women in senior management40%6,000 suppliersWomen in line management41%countries150 selling to10,000employees worldwidenearly5By developing proprietary logistics and e-commerce technology,we are innovating the fashion space and improving outcomes for manufacturers and consumers.We use on-demand manufacturing technology to connect suppliers to our supply chain,enabling us to reduce inventory waste and deliver quality products at affordable prices to customers around the world.We work with more than 6,000 suppliers,many of whom are small businesses,to produce SHEIN-branded products and source additional third-party items to sell on the SHEIN platform.CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&AA fully-integrated supply chain6On our journey to build a thriving fashion ecosystem where the beauty of fashion is accessible to all,we recognize the role SHEIN must play in supporting the communities where we work and live,and the larger environment and planet we all share.The United Nations Sustainable Development Goals(SDGs)provide a framework for our environmental sustainability and social impact strategy.We support all 17 SDGs,which help guide our priorities and programs,and which will guide our future goal setting and reporting.Our Approach and GovernanceCEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&AUnited Nations Sustainable Development Goals(SDGs)We are a signatory to the United Nations Global Compact(UNGC)and support the ten principles focused on human rights,labor,environment,and anti-corruption.7CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&AWe have identified three pillars for our sustainability and social impact strategy:protecting our planet,supporting communities and empowering entrepreneurs.Weve already made progress on each pillar through a number of initiatives,including philanthropic and in-kind giving,awareness-raising campaigns and our SHEIN X incubator.We recognize there is always more to be done,and we look forward to showing you our continued progress.ESG Accountability Addressing our impact on the environment and our society as a whole is not only important to SHEIN,it is our responsibility.This responsibility starts with our corporate structure.SHEINs global head of ESG reports directly to our CEO and leads a combination of full-time ESG professionals and other employees from various SHEIN departments.These employees have some intersection with ESG functions,such as buyers who are trained to identify safety violations when they visit factories for commercial purposes.Our senior leadership team meets monthly to discuss ESG initiatives and progress,including new partnerships and initiatives,goals and reporting.This report is a snapshot of how we do business,the initiatives weve activated in pursuit of our sustainability and social impact goals,and our vision for the future.This is the first of many reports SHEIN will release publicly to provide a transparent look at the companys business model and share updates on the positive impact we are making on people,our planet and the fashion industry.Our global head of ESG shares his thoughts on SHEINs sustainability and social impact journey on page 25.We developed a three pillar sustainability and social impact strategy to pursue initiatives focused on:Empowering EntrepreneursProtectingour PlanetSupportingCommunities8We actively seek ways to make sure that we positivelyimpact entities that interact with SHEIN across the value chain,directly or indirectly and help them succeed.When assessing sustainability and social impact programs,we always consider how our choices and actions affect our stakeholders,including but not limited to:CustomersOur customers are incredibly supportive and drive SHEINs continuous growth and success.We strive to reflect their diversity and creativity in our product offerings and always look for opportunities to support the causes they care about,from product design and material choice to product end-of-life,circularity and charitable giving.EmployeesOur global workforce is nearly 10,000 strong we value the hard work of every employee and implement policies to promote a workplace that is safe,secure and free from harassment and discrimination,and one that operates in compliance with relevant local laws.Designers and StudentsIndependent designers and students define the future of fashion,but often compete for limited opportunities to build their business and personal brand.SHEIN has created programs and opportunities to afford emerging creatives an entry point into the fashion industry and will soon announce new initiatives to elevate promising talent.Stakeholder EngagementCEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&A9CommunitySHEINs impact extends far beyond the individuals we directly interact with.By supporting the communities in which our employees,customers and partners live and work,we create meaningful positive outcomes around the world.This work includes donating unsold merchandise to local charities and financially supporting employees with scholarships and emergency funding.Non-governmental Organizations(NGOs)NGOs play an important role in monitoring compliance with international labor and environmental standards.We engage with organizations who can provide meaningful perspectives and value their critical feedback as a catalyst for strengthening our program.Policy Makers and RegulatorsWe actively engage and strive to build collaborative relationships with key policy makers and regulators.CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&A10Supply Chain We contract the manufacturing of our products with independently operated suppliers.We also sell other products and brands from finished goods vendors on our platform.We are committed to creating a sustainable business ecosystem where our suppliers thrive as a result of their partnership with SHEIN.Part of that work includes providing our suppliers with technology and operational support that enables them to be more competitive and profitable.Many SHEIN suppliers see supply and demand for each style through our proprietary supplier platform,allowing them to have real-time insight into sales and inventory.This helps them adopt modern best practices for planning and production,such as maximizing efficiency.Additionally,we provide thousands of small and medium-sized merchants with brand and store setup,logistics support and access to new customers helping them to grow their businesses.SHEIN SpotlightWe launched the“SHEIN Spotlight”program,available to 14,000 employees of 120 suppliers,to help cover childcare and education costs.In the future,we plan to expand this program and increase its scope.Code of Conduct SHEIN enforces a strict Code of Conduct for all product manufacturing and raw material suppliers.The principles embodied in the SHEIN Code are consistent with the core conventions of the International Labour Organization(ILO).Our Code includes compliance requirements related to health and safety,environment,labor and social welfare,and we require our suppliers to comply with local laws.Responsible Sourcing Program We have created the SHEIN Responsible Sourcing(SRS)evaluation system and conduct regular supplier audits.SHEINs Responsible Sourcing Program assigns grades of A,B,C,D and Zero Tolerance Violations(ZTVs)to factories based on audit results.Examples of ZTVs include forced labor,serious environmental pollution,severe health and safety violations,and underage labor.SHEIN provides capacity building training to suppliers to support the remediation of ZTV and other major Code violations.Should suppliers fail to remediate violations within the allowed timeframe(immediately in severe cases,such as underage labor),we take further action,including termination.In 2021,we contracted third-party agencies,such as Openview and ITS,and used our trained staff to conduct nearly 700 audits of SHEIN supplier facilities using SEDEX SMETA and SRS Program standards.We will continue to conduct regular audits to ensure that all levels of the supply chain are compliant with the SHEIN Code of Conduct,accessible here.CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&A1166%5%2%SHEIN regularly audits its suppliers factories and warehouses.In 2021,out of nearly 700 suppliers audited,the company found:We take pride in helping our suppliers reach global markets,and in doing so,many of these suppliers may need to adjust to international workplace standards.Through initiatives such as training and capacity building programs on factory compliance,SHEIN is committed to supporting the transition of many of our suppliers.A:90 points and above.Outstanding performance with minor flaws.Continued improvement is advised.B:80 to 90 points.Moderate performance with some general risks.Continued improvement is advised.C:60 to 80 points.Mediocre performance with 1-3 major risks.Corrective action is required.D:Below 60 points.Poor performance with over 3 major risks.Corrective action is required.ZTV:Below zero.Very poor with ZTV risks.Immediate corrective action is required.CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&AZTV and major violations mustbe remediated in 30,60,or 90days depending on severity.Failure to remediate results in factory termination.12CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&APercentage of nearly 700 audits where these violations were detectedTop Violation CategoriesOne of the most frequent violations we detect through our supply chain audit program is insufficient fire and emergency preparedness.This can pose serious risk to workers and is something we address through regular capacity building exercises.Our goal is to reduce this violation rate every year through on-site management and worker trainings.Regarding the other violation categories,we also conduct capacity building trainings to ensure management systems are put in place to prevent future violations.Fire and emergency preparedness 27%Working hours 14%Recruitment compliance 14%Grievance management 9%General working environment 8%Workplace safety 7%Environmental protection 5%Electrical safety 4%Medical and emergency services 4%Chemical management 3%Occupational health 3%Worker housing 2%Underage labor 1From suppliers to employees in over a dozen global offices people are the most important part of our business.Our global team has grown significantly over 2021,and the examples below outline some of our recent initiatives.We are committed to investing in the success of SHEIN employees everywhere,and we have a number of programs to promote training,development and growth opportunities.Employees:Undergo a comprehensive annual review process Participate in Security Awareness training sessions Certify to an employee handbook which contains corporate policies on important topics,including:-Discrimination and harrassment-Our Code of Ethics-Health and Safety-Weapons Policy and Workplace Violence Receive generous family leave,healthcare and childcare benefitsPeopleCEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&A141.https:/ named SHEIN the most inclusive retailer available in the UK with sizes ranging from a UK size 6 up to a UK size 26 an nearly 90,000 plus size options 1CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&ADiversity,Equity and InclusionSHEIN is built on a philosophy of respecting each persons individuality.We believe there is no one standard of beauty.Beauty is unique and personal.To deliver on this promise,we are proud to employ a global community of diverse colleagues,have strict anti-discrimination policies and are continually expanding our training programs for employees.In 2021,SHEIN worked with nearly 1,500 designers frommore than 25 countries,including Australia,France,Italy,Malaysia,Mexico,Spain,UAE and UK.SHEIN X 100 Challenge finalists15Every year retailers overproduce tens of millions ofgarments so that their stores and supply chains can remain full of product for customers to browse.As an e-commerce-only retailer,SHEIN avoids the need for this overproduction.It also prevents much of the waste and environmental impact associated with running a traditional retail store such as flooring,energy consuming lighting,fixtures for displaying merchandise and plastic hangers,just to mention a few.PlanetFashion has an undeniable impact on the health of our environment.To protect our shared home,SHEIN is committed to lowering emissions and reducing waste at every stage of the value chain.This includes increasing our use of sustainable materials,adopting production techniques that save water and working with suppliers to implement responsible chemical management.Digital Printing to Reduce Water UseWe look for innovative ways to reduce our environmental impact.We also invested in thermal digital transfer and digital direct printing technologies in an effort to reduce water use throughout the production process of SHEIN-branded items.Protecting Our PlanetCircular Economy and Product End-of-LifeSHEIN is currently developing innovative solutions and working with strategic partners to develop garment recycling programs and other initiatives to reduce post-consumer waste.Managing Greenhouse Gas Emissions(GHG)SHEIN is currently baselining energy consumption and establishing goals around renewable energy use in our own operations.We look forward to publicly disclosing our baseline GHG emissions calculations.In an effort to reduce GHG emissions while enabling a seamless customer experience,SHEIN partners with last-mile delivery services providers,to offer order pickup services at local merchants.The last-mile shipping providers often use electric vehicles to drop packages at a central location such as grocery stores,gas stations or salons making retrieval convenient for customers while reducing the environmental impact that would be required to deliver every order to customers homes.CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&A16Striving for Zero Waste in Our OperationsWe plan to announce a waste goal by the end of 2022 and have engaged with a leading waste management partner to help us achieve this goal.SHEIN Cares In-kind DonationsWe donate returned items that are in good shape but cannot be resold to customers or wholesalers for a variety of reasons.Through these programs,we simultaneously divert waste from landfills and provide clothing to underserved populations.CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&ASHEIN donates approximately 10,000 pairs of shoes per year.The majority are distributed to Soles4Souls,a U.S.-based non-profit organization that donates shoes to disaster relief victims and supports micro-entrepreneurs who earn a living by selling donated shoes in their communities.SHEIN regularly donates unused clothing to The Midnight Mission,a leading homeless services organization in Los Angeles.We recently committed to donating 20 pallets of clothing at the end of 2023,valued between$10,000-$20,000.17Responsible Materials Shifting towards more sustainable materials such as recycled polyester and increasing recycled materials in packaging are important components of our sustainability strategy.PolyesterSHEIN is incorporating more recycled polyester into our products and intends to join leading organizations who provide oversight of standards and supplier certification.Wool and DownSHEIN will increase our sourcing of materials from certified suppliers of responsible wool and down,ensuring that animals are treated humanely in the production of these fibers.Man-made Cellulosic Fibers(MMCF)SHEIN intends to source viscose from more certified suppliers,protecting ancient and endangered forests from destruction associated with MMCF production.ChemicalsSHEINs strict Code of Conduct clearly outlines proper chemical management in factories and in accordance with local regulations.The company is baselining current supply chain practices and plans to establish goals for achieving reductions in waste water discharge.PackagingSHEIN is increasing the use of recycled materials in packaging,as well as identifying opportunities to reduce the amount of plastic in packaging and evaluating alternative materials.CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&A18SHEIN and its beauty brand,SHEGLAM,supported the International Fund for Animal Welfare(IFAW)as part of the Wild Heart campaign.IFAW supports local organizations that trap,rehabilitate and release endangered animals across the world.IFAW additionally provides relief for animals in areas affected by natural disaster and fights against animal abuse.In Celebration of Earth Day,SHEIN planted 606,175 trees through Ecologi as a small step to combat climate change through reforestation.Through this initiative,SHEIN helped restore 150 acres of rainforest in Madagascar and helped create 59 jobs for the local planters.At the end of 2021,SHEIN ranked#3 in the Ecologi Business Tree Leaderboard for most trees planted.CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&ASHEIN supports several non-profit organizations focusedon addressing reforestation and preserving animal habitats.Photo:Donal Boyd/IFAW19CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&ASHEIN CaresThrough SHEIN Cares,the philanthropic arm of our greater social impact strategy,we make monetary and in-kind contributions to organizations aligned with our sustainability and social impact focus areas:empowering entrepreneurs,helping communities thrive and protecting the environment.The Light-A-Wish Campaign,was oneof our key philanthropic activities this year.In 2021,we dedicated financial resources to the following organizations:SHEINs Light a Wish campaign contributed$100,000 to the NAACP Legal Defense Fund efforts to achieve racial justice,equality,and an inclusive society and$100,000 to Together We Rise(TWR)to support children in the foster care system by providing them with proper luggage and other essentials,as well as bikes and scholarship funding.SHEIN also supported TWR with an additional$21,000 on Giving Tuesday and in conjunction with its LA Pop Up.SHEINs Rock the Runway Fashion Show supported several charities across the United States:A$100,000 grant to the National Action Network,an organization that works within the spirit and tradition of Dr.Martin Luther King,Jr.to promote a modern civil rights agenda that includes the fight for one standard of justice,decency and equal opportunities for all people.A$250,000 grant to Youth Emerging Stronger to provide runaway,homeless and foster youth with safety,stability and housing,along with the relationships and resources to thrive now and in the future.Supporting Communities20CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&ASHEIN provided a first grant of$250,000 grant to Vital Voices,an organization focused on investing in women leaders who are solving the worlds greatest challenges.A second grant in the same amount is slated for 2022.SHEIN provided a donation match up to$50,000 to Stand Up to Cancer(SU2C)in support of the development of the newest and most promising cancer treatments to help patients today.SHEINs Holiday Pop Up and cause campaign supported Girls Who Code with a grant of over$13,000 to help close the gender gap in technology and to change the image of what a programmer looks like and does.In celebration of Pride Month,SHEIN provided a$100,000 grant to The Trevor Project,the worlds largest suicide prevention and crisis intervention organization for LGBTQ young people,providing free,confidential and secure 24/7 service when they are struggling with issues such as coming out,LGBTQ identity,depression,and suicide.21Together We Rise(TWR)works with hundreds of foster agencies,social workers,CASA advocates and other partners to bring their programs to foster youth across the United States.TWR has provided thousands of foster youth across the country with new bicycles,college supplies and suitcases so that children do not have to travel from home to home with their belongings in a trash bag.CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&APartner Spotlight22Vital Voices Global Partnership supports women leaders who are solving the worlds greatest challenges including gender-based violence,the climate crisis,economic inequities and more in their local communities.Vital Voices scales and accelerates the impact of these leaders work through long term investments to expand skills,connections,capacity and visibility.Over the last 24 years,they have built a network of 18,000 change makers across 185 countries,each of whom are daring to reimagine a more equitable world for all.In 2021,SHEIN formed a two-year partnership with Vital Voices,making a$500,000 commitment to support their advocacy work and programs intended to train the next generation of women advocates changing the world-at-large.CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&APartner Spotlight23As a large,global business,we have the opportunity and responsibility to create transformational change in the fashion industry and open the door for others.The examples here demonstrate the initiatives SHEIN pursued in 2021 to build a thriving fashion ecosystem and empower entrepreneurs.SHEIN XIn January 2021,we launched SHEIN X,an incubator program that provides up-and-coming designers and creators the marketing,manufacturing,operational and financial support required to establish their brands on a global scale.SHEIN X allows designers to focus on what they love creating fashion while SHEIN helps them turn their designs into a business.Empowering EntreprenuersCEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&ASHEIN X Designers by RegionUnited StatesCanadaGermanyItalyFranceUnited KingdomSpainEuropean UnionArgentinaThailandSingaporePhilippinesIndiaMyanmarAustraliaMexico1,442designers in 2021SHEIN X launched3,000in 2022and we planto reach a total of24At SHEIN,cyber security is embedded in the DNA of our technology and supply chain ecosystems.We hold high standards in how we deploy and operate advanced security technologies and solutions to protect our global infrastructure,logistic networks,digital assets,and,most importantly,customer data.Our Global Security and Risk Management(GSRM)organization tackles global cyber threats and security challenges through process automation,operational excellence,and technological innovation.We commit to protecting our enterprise and customers by building cyber capabilities in the following key areas:Infrastructure and cloud security Secure software development Governance,compliance,and regulations Operational and technology risk management Disaster recovery and business continuity planning Enterprise and workforce protectionSHEIN also has a global Privacy Program aimed at protecting personal data in compliance with privacy laws and regulations,like the GDPR,LGPD and CCPA.Read our full data privacy policy here.Cybersecurity and Data PrivacyCEO LetterBusiness-at-a-GlanceOur Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering EntreprenuersCybersecurity and Data PrivacyGlobal Head of ESG Q&A25Adam Whinston joined SHEIN as Global Head of Environmental,Social and Governance in 2021.Based in SHEINs Los Angeles office,Adam reports directly to SHEINs CEO and works with the companys global leadership and teams across the globe to establish and drive progress toward the companys comprehensive sustainability and social impact framework,as well as oversee the SHEIN Cares philanthropic programs.Adams wealth of experience in the ESG sector includes leadership positions at The Walt Disney Company,JCPenney and SGS.In the following interview,Adam discusses what brought him to SHEIN and his excitement about the companys future.Adam WhinstonGlobal Head of ESGQ&AHow did you decide to join SHEIN?What are some of the opportunities and challenges that interested you about SHEIN specifically?I made the decision to join SHEIN at a pivotal moment in the companys development,accepting the unique opportunity to develop robust long-term ESG programs.SHEIN has emerged as a leader in the digital-first retail sector and,as such,a wide range of stakeholders are voicing interest in how we do business,including customers,investors,media and NGOs,not to mention the heightened regulatory environment retailers are experiencing globally.Im excited to collaborate with senior leadership on initiatives that ensure SHEIN has a net-positive impact across the value chain.In addition,I am identifying ways for SHEIN to communicate the work that were doing in this area and increase transparency and communication.Because of SHEINs broad global reach,we have the chance to define the next era of socially conscious and sustainable business.I find that very exciting.CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering Entreprenuers Cybersecurity and Data PrivacyGlobal Head of ESG Q&A26What opportunities do you envision SHEIN pursuing to distinguish the company from other fast fashion brands when it comes to environmental sustainability and social impact?How can SHEIN become an industry leader?I believe that there is a lot of opportunity in the fashion industry to improve sustainability at all stages of the value chain.SHEIN has already set itself apart from other brands by developing automated supply chain technology to reduce deadstock and inventory waste.The fact that we dont operate physical stores significantly reduces the amount of waste created compared to the traditional retail model.Sustainable material use is an area where I see a chance for growth,and I plan to incorporate more responsible fibers such as recycled polyester in SHEINs products.Were also working on programs to reduce waste at product end-of-life,including partnerships to make garment recycling more accessible.SHEIN partners with a large network of independent garment producers and lifestyle product suppliers,which creates a great opportunity to support sustainability and social impact work across a number of sectors.We plan to work with our partners to reduce the environmental impact of their operations and set science-based targets for greenhouse gas emissions and waste reduction.CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering Entreprenuers Cybersecurity and Data PrivacyGlobal Head of ESG Q&A27How can stakeholders ensure that this work is coming from a genuine place?I hope that our stakeholders understand that this report is a first step toward engaging with our community transparently and on a regular basis.We will be sharing additional information as new initiatives are set in place and we measure the impact of our existing programs.SHEINs commitment to sustainability and social impact will be proven through actions,not statements.We appreciate calls for continuous,meaningful progress and look forward to sharing details about our work as they become available.What are some next steps that you envision in SHEINs sustainability journey?In the near future,we will be working with a number of partners to further improve our environmental footprint.Im specifically excited to develop circular economy programs by working with partners that will divert waste away from landfills at product end-of-life as much as possible.Our long-term work includes collaborating with designers to promote the use of sustainable fibers,assessing our operations on a broad scale to reduce our emissions and waste footprint,and working at all levels of the supply chain to identify workplace safety and labor violations and develop corrective actions to remediate those non-compliances.How is ESG reflected within the culture of SHEIN?SHEINs leadership is very committed to developing sustainability and social impact programs in every aspect of the business.These programs are not afterthoughts or isolated in their own sector theres a high degree of excitement and willingness to implement changes in the business that will create lasting positive impacts on communities and the environment.What do you like best about working at SHEIN?I was drawn to SHEIN because of the commitment of its leadership and the broad stakeholder support to make fundamental changes across our value chain and the understanding of the potential impact this will make across the globe.CEO LetterBusiness-at-a-Glance Our Approach and GovernanceStakeholder EngagementPeopleProtecting Our PlanetSupporting CommunitiesEmpowering Entreprenuers Cybersecurity and Data PrivacyGlobal Head of ESG Q&A28About this report This report is a snapshot of how we do business,the initiatives we have activated in pursuit of our sustainability and social impact goals and our vision for the future.We recognize there is always more to be done,and we look forward to showing you our continued progress.This is the first of many annual reports SHEIN plans to release publicly to provide a transparent look at the companys business model and share updates on the positive impact we are making on people,our planet and the fashion industry.Typically,SHEIN,we,us,our,and theCompany refer to SHEIN and all of its subsidiaries.This report covers the Companys activities between January 1 and December 31,2021.We welcome your questions and feedback viaCSRSHEIN.com.
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