Flex Releases its 2023 Sustainability Report

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Flex publishes 2023 sustainability report, highlighting progress towards goals

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27% decrease in greenhouse gas emissions
1100% of major sites partnered with NGO
17% reduction in safety incident rate
100% of employees had access to mental health programs
35% of preferred suppliers had emissions reduction targets
64% of specified customers had science-based targets
Received accolades and awards for sustainability and ESG leadership

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09/06/2023 - 09:05 AM

AUSTIN, Texas, Sept. 6, 2023 /PRNewswire/ -- Flex (NASDAQ: FLEX) today published its 2023 sustainability report, highlighting the company's global sustainability activities, performance, and results from calendar year 2022. The report reveals Flex's progress toward its 2030 sustainability goals to reduce its environmental impact, invest in local communities, advance a safe, inclusive, and respectful workplace, drive responsible, ethical business practices and accelerate a more sustainable value chain in partnership with customers and suppliers.

Prepared in accordance with the Global Reporting Initiative (GRI) Standards, the Flex 2023 sustainability report can be read here: https://flex.com/downloads/2023-sustainability-report

"The strides we've made toward our long-term commitments is a testament to our 170,000 employees' ongoing dedication and contributions, and collaboration with our suppliers and customers," said Kyra Whitten, Senior Vice President, Corporate Marketing, Communications, and Sustainability at Flex. "Sustainability is an ongoing journey, and we will continue to further embrace sustainable, responsible manufacturing practices as we build great products for our customers, deliver stakeholder value, and do our part to help address broader environmental and social call-to-actions for current and future generations."

2022 sustainability accomplishments

27 percent decrease in absolute scope 1 and 2 greenhouse gas emissions from 2019 baseline year¹
100 percent of major sites² partnered with a local non-governmental organization
17 percent reduction in safety incident rate year over year
100 percent of employees had access to emotional / mental health programs
35 percent of preferred suppliers and 64 percent of specified customers³ had greenhouse gas emissions reduction and science-based targets, respectively
Released first Task force on Climate-Related Financial Disclosures (TCFD) report to share the company's approach to TCFD's key areas of governance, strategy, risk management, metrics and targets

In 2022, Flex received accolades and awards for its sustainability and ESG leadership and performance, including receiving a Manufacturing Leadership Award for its 2030 sustainability strategy and commitments, Business Intelligence Group's Initiative of the Year for its Supplier Greenhouse Gas Emissions Reduction Program and Cisco's Excellence in Sustainability Award, among others. Additionally, the company was named to CDP's supplier engagement leaderboard and A-List for water security for the second and third consecutive year, respectively, and included in the S&P Global's Sustainability Yearbook for the fourth year in a row.

About Flex

Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.

Contacts

Media & Press
Jessica Anderson
Director, Corporate Integrated Marketing & Communications
(408) 577-4789
Jessica.Anderson@flex.com

Investors & Analysts
David Rubin
Vice President, Investor Relations
(408) 577-4632
David.Rubin@flex.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of U.S. securities laws. All statements other than statements of historical or current facts, including statements regarding our future business expectations and our environmental and other sustainability plans and goals and related timeframes, made in this document are forward-looking. Because these forward-looking statements are subject to risks and uncertainties, actual results could differ materially from the expectations expressed in the forward-looking statements. Important factors that could cause actual results to differ materially from the expectations reflected in the forward-looking statements include those described in Item 1A, "Risk Factors" and Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the fiscal year ended March 31, 2023, and in our Quarterly Reports on 10-Q and Current Reports on Form 8-K that we file with the U.S. Securities and Exchange Commission. In addition, new risks emerge from time to time and it is not possible for management to predict all such risk factors or to assess the impact of such risk factors on our business. Given these risks and uncertainties, the reader should not place undue reliance on these forward-looking statements. We undertake no obligation to update or revise these forward-looking statements to reflect subsequent events or circumstances.

¹ The target boundary includes biogenic emissions and removals from bioenergy feedstocks. Absolute Scope 1 and 2 market-based emissions.

² Sites with 1,000 or more employees.

³ Flex committed that 70% of customers as measured by emissions covering purchased goods and services, capital goods and use of sold products will have science-based targets by 2025.