CALLAWAY GOLF COMPANY PUBLISHES INAUGURAL SUSTAINABILTY REPORT

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Callaway Golf Company (NYSE: ELY) has released its first Sustainability Report, highlighting its commitment to responsible business practices. The report showcases the company’s focus on four key pillars: People, Planet, Product, and Procurement. Key initiatives include promoting diversity within its workforce, improving energy efficiency, and adopting sustainable product management practices. The report covers the fiscal year from January 1, 2021 to December 31, 2021, and aims to enhance transparency for stakeholders while committing to bi-annual reporting.

Positive

• Callaway's commitment to sustainability enhances its brand image and aligns with consumer preferences for ethical brands.
• The establishment of a comprehensive sustainability framework may attract environmentally-conscious investors.

Negative

• None.

CARLSBAD, Calif., March 10, 2022 /PRNewswire/ -- Callaway Golf Company (the "Company" or "Callaway") (NYSE: ELY) published its inaugural Sustainability Report today, detailing the Company's commitment and approach toward conducting business in a responsible and sustainable manner.

"Callaway has a long history of prioritizing social and environmental considerations in our day-to-day operations, and we are proud to present our first comprehensive report as a key step toward increasing transparency and accountability," commented Chip Brewer, President and Chief Executive Officer of Callaway. "Our late founder Ely Callaway lived by the belief that 'good ethics is good business,' an ethos that has guided our Company over the past 39 years and continues to be actively reflected in our culture and actions today. We set high standards for our employees and brands, putting significant emphasis on making Callaway a great place to work, while also making a positive impact for the greater good. We look forward to continuing to update our stakeholders as we evolve our social and environmental programs and initiatives."

Grounded in feedback from a diligent assessment conducted in 2021, members of the Callaway Global Sustainability Program, with oversight from the Executive Sustainability Committee and the Company's Board of Directors, identified four key areas of focus to serve as the pillars of the Company's sustainability strategy: People, Planet, Product, and Procurement. This Sustainability Report provides extensive details regarding the advancements and measures of performance within each of these pillars.

Select report highlights by strategic pillar include:

People

• Employees: Callaway embraces a culture of being One Team — One Company. Callaway and its subsidiaries have diverse employee bases with a wide range of cultures, experiences, talents, capabilities, and perspectives, and firmly believes that ethnic, gender, and cultural diversity provide distinct value to the Company.
• Suppliers: Callaway holds our suppliers accountable to the same human rights policies as our own employees, including Callaway's Enterprise Human Rights Policy. We further require all Callaway suppliers to comply with human rights and other responsible labor standards set forth in our Supplier Code of Conduct and the Transparency in Supply Chains Act and UK Modern Day Slavery Act Policy.
• Local Communities: The Company engages and supports its local communities through the Callaway Golf Company Foundation, the Callaway Golf Company Community Giving Program, and a variety of local volunteer and donation initiatives led by the Company's global subsidiaries.

Planet

• Energy Management: Since 2005, Callaway has implemented energy efficiency improvements through active participation in utility-sponsored demand-reduction programs while also pursuing new energy efficiency projects, such as the natural gas fuel cell system being installed at the Company's Chicopee, Massachusetts manufacturing facility.
• Climate Change and Emissions: Callaway recognizes that climate change is a global issue and needs to be addressed comprehensively. The Company is committed to operating with a focus on sustainability, while continuing to manufacture and distribute high-quality products for its customers.
• Waste Management and Recycling: Callaway has proactively implemented positive environmental initiatives to reduce the Company's environmental footprint. Callaway is working to convert its single-use plastic packaging to recycled plastic where feasible.
• Water and Wastewater Management: Callaway has implemented initiatives to ensure its operations and suppliers manage water and wastewater responsibly. Callaway facilities track their water usage so that the Company's Operations Team can identify opportunities to conserve water, maintain recycled water systems, and implement practices to improve the Company's water management processes.

Product

• Product Design and Innovation: Callaway actively works with its development teams and suppliers to find new ways to minimize its environmental footprint through design improvements.
• Product Management: Callaway strives to uphold responsible management practices at all stages of the product lifecycle. The Company has adopted programs and procedures to ensure raw materials are sourced responsibly, supply chain factories minimize the use of toxic chemicals by applying green chemistry principles, and products can be used — and reused — as long as possible.
• Product Quality and Compliance: Callaway's Quality Assurance Team invests time in training the Company's suppliers on the Acceptable Quality Level process. In 2021, Callaway experienced no consumer retail product recalls due to safety or environmental compliance across all of our brands.

Procurement

• Procurement Practices: Over the last decade, Callaway has consolidated the number of manufacturing partners as much as possible, allowing the Company to build deeper, long-term relationships with fewer suppliers, and work together to achieve socially-responsible procurement.
• Supplier Assessment and Engagement: Callaway regularly assesses all new and existing suppliers through an extensive auditing process, including regular and occasionally unannounced on-site audits conducted or attended by Callaway personnel; collaborative or self-audits; and periodic third-party on-site audits to ensure alignment with the Company's Supplier Code of Conduct, as well as standards and best practices established by third-party audit responsible sourcing partners.

Callaway's inaugural Sustainability Report was prepared with reference to the Global Reporting Initiative (GRI) standards and covers the Company's fiscal year from January 1, 2021 to December 31, 2021. The full report and an accompanying ESG Data Table can be accessed via the Company's Investor Relations website at ir.callawaygolf.com. The Company is committed to publishing a bi-annual Sustainability Report, which will continue to improve transparency and aid in its future sustainability efforts.

About Callaway Golf Company
Callaway Golf Company (NYSE: ELY) is an unrivaled tech-enabled golf company delivering leading golf equipment, apparel and entertainment, with a portfolio of global brands including Callaway Golf, Topgolf, Odyssey, OGIO, TravisMathew and Jack Wolfskin.  Through an unwavering commitment to innovation, Callaway manufactures and sells premium golf clubs, golf balls, golf and lifestyle bags, golf and lifestyle apparel and other accessories, and provides world-class golf entertainment experiences through Topgolf, its wholly-owned subsidiary.  For more information please visit www.callawaygolf.com, www.topgolf.com, www.odysseygolf.com, www.OGIO.com, www.travismathew.com, and www.jack-wolfskin.com.

Sustainability Team Contact
GlobalSustainability@callawaygolf.com 

Investor Contact
Lauren Scott
(760) 931-1771
invrelations@callawaygolf.com

 

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SOURCE Callaway Golf Company

FAQ

What does Callaway Golf's inaugural Sustainability Report cover?

The report covers the company's commitment to sustainability focusing on 'People', 'Planet', 'Product', and 'Procurement'.

When was Callaway Golf's Sustainability Report published?

The report was published on March 10, 2022.

What fiscal year does Callaway's Sustainability Report address?

The report addresses the fiscal year from January 1, 2021, to December 31, 2021.

What are the key pillars of Callaway Golf's sustainability strategy?

The key pillars are People, Planet, Product, and Procurement.

How will Callaway Golf report on sustainability in the future?

Callaway is committed to publishing a bi-annual Sustainability Report.