2022 Sustainability Report

01

Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

Table ofContents

02 Environment

SETTING TARGETS IN LINE WITH SCIENCEENSURING QUALITY EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03

SocialBUILDING A CULTURE OF DIVERSITY,
INCLUSION, AND BELONGINGCREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEES THROUGHLEARNING AND DEVELOPMENT
GENERATING SOCIAL IMPACT

04

Governance
BOARD OF DIRECTORS OVERSIGHT
THE RIGHT COMPONENTS FOR ETHICS
AND COMPLIANCE
A CLEAR FOCUS ON ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUST THROUGHCYBERSECURITY AND DATA PRIVACY

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Introduction

ntr

At Dolby, we believe it’s our
responsibility to embrace resiliency
and accelerate our commitment
to sustainable action for the
benefit of our customers, partners,
employees, communities, and ourplanet. This requires navigating anever-changing landscape, being
bold about what we can do, andstrengthening our practices toreflect the future we want to create.

Climate change, an ongoing
global pandemic, and societal
unrest bring continued uncertainty
and volatility to the world. It’sin this context that our teams arechallenging the status quoof our operations, designing
programs that mirror the ways
people now live and work,
setting science-based targets to
reduce our emissions, investingin employee wellbeing, andembedding diversity, inclusion,and belonging into our business.

Introduction

Corporate responsibility is about
more than promises or pledges.
It’s a shared accountability toblend innovation and ingenuity tocreate a more equitable andsustainable future.

Creating a more sustainable
world requires future thinking andthe ability to adapt to evolving
conditions. We will continue toact with urgency and be a part ofcreating a better future.

Dolby Cinema
Audio Visual Pathway
is an immersive entrance
to a spectacularmoviegoing experience.
3

Introduction

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXCEO Letter

At Dolby, we unlock the power ofsight and sound in the pursuit of aweinspiring experiences that transform
how we connect to each other and theworld around us.
In 2022, the dynamic macroenvironment brought challenges andopportunities. As we manage theevolving landscape, what remains
constant is Dolby’s purpose andour commitment to building a moresustainable world.
Through our innovative technologies,
business practices, and partnerships
we continue to take steps towards
building a better future. Our
2022 Sustainability Report shares
our journey and highlights ourenvironmental, social, and governance(ESG) progress.

ENVIRONMENTGOVERNANCE

It is our goal to become a carbon
neutral company by 2030. In 2022,
we made significant strides byattaining our target of 100%
renewable electricity three years
ahead of schedule and by developing
science-based targets to ensure
impactful emissions reductions.

Strong corporate governance is anasset to Dolby’s growth and critical to
our strategy. In 2022, we expanded
our efforts by establishing a Business
Partner Code of Conduct that applies
clear requirements and expectations
for all Dolby suppliers, vendors,
and other business partners related
to human rights, the environment,
responsible material sourcing, andresponsible business practices.

SOCIAL

Creating a more equitable future
matters to our business andcommunities. This year, we madeprogress towards creating longterm systemic change by increasing
representation at multiple levelsof our company and investing in
the most pressing issues of our local
communities through corporate
grants and the power of 2,300+
employees’ direct engagement,
volunteering, and giving. We alsobrought our employees back to
in-person activities and are evolving
how we work.

Sustainability is a collaborative effort.
I am grateful for the partnerships
and support of our stakeholders inthis journey and I’m proud to share
our progress with you. At Dolby, we
will continue to do the work to bea part of creating a more sustainable
and equitable world for generations
to come.

Kevin Yeaman
President and Chief Executive Officer

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Introduction

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

About Dolby
Dolby unlocks the power of sight and sound in the pursuit of awe-inspiring experiences thattransform how we connect with each other and the world around us.

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

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Since 1965, Dolby has delivered innovations that create
spectacular experiences and grown into a leading developer ofaudio and imaging technologies. Headquartered in San Francisco,California, Dolby has over 2,300 employees around the globe.
Employees share their talents and energy to enable the mostimmersive experiences that audiovisual technology can deliverand create a meaningful impact within our communities.

From movies and TV shows, to apps, music, sports, and gaming,
Dolby creates spectacular experiences for billions of people
worldwide. We partner with artists, storytellers, developers, andbusinesses to revolutionize entertainment and communications
with Dolby Atmos, Dolby Vision, Dolby Cinema, and Dolby.io.

5Introduction

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTS

About this Report
This report is an annual progress update
on Dolby’s environmental, social, andgovernance (ESG) performance. Managementof sustainability programs and initiatives at
Dolby, including this annual report, comprisesa cross-functional team with representatives
from People, Facilities, Legal, Engineering,and Finance.
REPORTING PERIODAll data reported relates to Dolby’s fiscal year 2022 (September
25, 2021–September 30, 2022) unless otherwise noted. In
some instances, data and information related to Dolby’s ESG
material topics may include programs and activities underway or
introduced in fiscal year 2023, as noted. The terms “2022” and“2023” throughout the report represent Dolby’s fiscal year 2022
and fiscal year 2023, respectively.

SAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

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Introduction

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG)
MATERIAL1 TOPICS

In 2022, Dolby’s Sustainability Team participated in the company’s
Enterprise Risk Assessment process to validate existing ESG
material topics and to contemplate emerging issues. The teammonitored the priorities of stakeholders, including customers,
suppliers, peer companies, investors, and ESG ratings firms andhad discussions with internal leaders. Through this process, theteam validated the relevance of Dolby’s existing ESG material
topics, which are addressed in this report. Our 2022 ESG material
topics are: Cybersecurity and Data Privacy; Diversity, Inclusion,
and Belonging; Employee Wellbeing; Energy and Emissions; andSocial Impact.
REPORTING STANDARDS AND FRAMEWORKS

This report has been prepared following the Global Reporting
Initiative (GRI) Standards Core Option. Disclosures are aligned with
the Sustainability Accounting Standards Board (SASB) Softwareand IT Services standard and the European Union’s Non-Financial
Reporting Directive (NFRD). Our SASB, GRI, and NFRD Indices canbe found in the ESG Data Section.

ASSURANCE

Dolby is responsible for the preparation and integrity of theinformation in this report. Dolby engaged Apex Companies, an
independent third party, to provide limited level of assurance
verification of our fiscal year 2022 greenhouse gas (GHG)
inventory. The scope of their review included Scope 1 GHG
emissions, Scope 2 GHG emissions (location-based and marketbased), select Scope 3 GHG emissions including Purchased Goods
and Services, Use of Sold Products, Fuel and Energy Related
Activities, Upstream Transportation and Distribution, and BusinessTravel. More details are available in our 2022 GHG Verification
Statement.
ONLINE CONTENT

Additional content related to Dolby’s Sustainability and ESG efforts
can be found on the company’s website.
CONTACT

Questions, comments, and/or requests for more information canbe submitted to Sustainability@Dolby.com.

RESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

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This report contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are identified by words such as “anticipates,” “aims,” “aspires,” “believes,”“commits,” “estimates,” “expects,” “intends,” “may,” “projects,” “plans,” “strives,” “could,” “should,” “will,” “continue,” and other similar expressions. All statements other than statements of historical fact could be forward-looking statements, which
speak only as of the date they are made, are not guarantees of future performance, and are subject to certain risks, uncertainties, and other factors, many of which are beyond our control and are difficult to predict. Numbers and percentages
used in this report are estimates or approximations and may be based on assumptions. We describe risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, any of these forward-looking
statements in our SEC filings, including our most recent Annual Report on Form 10-K and our subsequent reports on Forms 10-Q and 8-K. Except as required by law, we do not intend to update or revise any forward-looking statements as aresult of new information, future events, or otherwise.
1

The use of “material” or “materiality” in this report is not intended to convey matters or facts that could be deemed “material” to a reasonable investor as referred to under U.S. securities laws or similar requirements of other jurisdictions,and we are not using these terms as they are used in the context of financial statements or financial and regulatory reporting.

7

Dolby is committed to
the goal of becoming carbon
neutral by 2030. We’ve advanced
our long-term strategy, including
attaining 100% renewableelectricity for our global operations
three years ahead of plan,and developing science-basedtargets to guide meaningful
emissions reductions.

In 2022, we prioritized
improvements to the company’s
emissions data internally andacross our value chain, identified
ways to mitigate emissions in linewith our climate commitments,
prioritized low carbon energy
consumption and production by
funding our first on-site solar array,
and worked with trusted partners
to procure renewable electricity
and high-quality carbon offsets.

EnviroThe global climate crisis is
growing, and it requires everyone
to create change. We are working
to strengthen Dolby’s initiatives
to combat the impacts of climatechange on our planet, people,
and communities by continuously
challenging ourselves to identify
opportunities to reduce waste,conserve water, and improvethe efficiency of our operations
and the products we make.

nvir

Environment

8

Environment

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

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Setting Targets
in Line with Science
Dolby has set ambitious and credible targets for reducing
its carbon footprint.
In 2021, we launched a goal setting
process to develop science-based targets(SBTs) in alignment with the Science
Based Targets initiative (SBTi) criteria
version 5.0. We have identified our mostsignificant emissions reductions andsubmitted our SBTs for validation by
SBTi. We expect our targets to be validated
in 2023, and then we intend to disclose
our progress annually.
We continue to model various emissions
reduction strategies to identify our biggest
opportunities for impact.
To mitigate our Scope 1 emissions(GHG emissions directly from operations
that are owned or controlled by Dolby),
we will pursue certain projects that
support the responsible consumption
and production of energy, including
targeted feasibility assessments andsubsequent replacement of natural gasconsuming equipment.

To reduce our Scope 2 emissions(indirect GHG emissions from thegeneration of purchased or acquired
electricity, steam, heating, or cooling
consumed by Dolby), we are committed to
the goal of maintaining 100% renewableelectricity across our global operations.
For Scope 3 emissions (indirect emissions
that occur in the value chain of Dolby), we
established a set of emissions reduction
measures focused on our supply chain,use of sold products, and business travel.
These were amongst our largest sources ofemissions in our 2019 base year.

9Environment

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

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Ensuring Quality
Emissions Data

FY22 CARBON FOOTPRINT922

SCOPE 1 — DIRECT
FUEL-BASED CONSUMPTION

We are committed to ensuring data quality.
To ensure the accuracy and completenessof our GHG emissions inventory, whichis critical to assessing emissions hotspots
and tracking progress against climate goals,
we undertook a comprehensive internal
audit of our emissions data collection
process in 2022.

31,458

Our GHG emissions inventory for 2022
is inclusive of all Scope 1 and Scope 2
emissions sources, as well as applicable
upstream and downstream Scope 3
activities. As in prior years, Scopes 1 and
2 account for a relatively small shareof total emissions at 5%, while theremaining 95% of emissions stem fromour Scope 3 upstream and downstream
value chain activities.

SCOPE 2 — PURCHASEDELECTRICITY (MARKET-BASED)

28,151

82,412
MT CO2e

SCOPE 3 — USE OF
SOLD PRODUCTS

We identified opportunities for data
improvements in some Scope 3 emissions
categories from our 2019-2021 GHG
emissions inventories, including Purchased
Goods & Services, Capital Goods, BusinessTravel, and Use of Sold Products. Resultsof the inventory can be found in the
ESG Metrics-at-a-Glance.

3,000

1,496

SCOPE 3 — OTHER2

SCOPE 3 — PURCHASEDGOODS & SERVICESTOTAL CARBON FOOTPRINT

1,236

SCOPE 3 — DOWNSTREAM
TRANSPORTATION &DISTRIBUTION

5,257

SCOPE 3 — CAPITAL GOODS

2,537

SCOPE 3 — EMPLOYEECOMMUTE & WORKFROM HOME

3,754

SCOPE 3 — BUSINESSTRAVEL
2

4,601

SCOPE 3 — UPSTREAM
TRANSPORTATION &DISTRIBUTION

Other includes: Fuel- and Energy-Related Activities (FERA), Waste, Upstream Leased Assets, End-of-Life Treatment of Sold Products, andDownstream Leased Assets.

10

Environment

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING

Journey to Carbon
Neutrality
Dolby is committed to the goalof becoming a certified
CarbonNeutral® company by 2030.

CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

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Our progress thus far comprises developmentof our science-based targets, which lay thefoundation for reducing our emissions, procuring
100% renewable electricity annually, achieving
CarbonNeutral® certification for our business travel
footprint, and providing carbon financing for highquality offset projects. We prioritize projects thatdeliver environmental benefits as well as social
benefits aligned with the United Nations Sustainable
Development Goals. Our current carbon offset
projects include Afforestation in mainland China andHousehold Solar Energy in India. Our actions
related to achieving carbon neutrality are in alignment
with The CarbonNeutral Protocol.

Qinghai Province is partof the Tibetan Plateau
and hailed as the “roofof the world;” thePlateau is a natural
habitat for rare animals.
This portfolio of projects
is restoring degradedlands with native tree
species to enhance local
biodiversity.

11Environment

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

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COMMITMENT TO 100% RENEWABLE ELECTRICITY

In 2022, Dolby attained 100% renewable electricity
for our global operations.
We achieved this by procuring a combinationof green tariffs and unbundled, third party verified
Energy Attribute Certificates. Addressing Scope
2 emissions through the annual procurement of
renewable electricity is a critical component toachieving carbon neutrality, and through these efforts
we achieved our goal of 100% renewable electricity,
three years ahead of plan.
To further support a low carbon future, Dolby invested
in our first solar installation at our Sunnyvale, California
location, which is planned for completion in 2023.

WE ACHIEVED OUR GOAL OF

100%
RENEWABLE ELECTRICITY
THREE YEARS AHEAD OF PLAN.

12

Environment

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

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Our headquarters
building in
San Francisco is
LEED Gold certified.

PROGRESSING TOWARD A
SUSTAINABLE BUILT ENVIRONMENT

We create healthy and inspiring
workspaces for our employees around theworld. As part of that commitment,
we employ sustainable building
practices by taking an environment-first
approach and occupying, wheneverpossible, buildings with green building
certifications (e.g., Leadership in Energy
and Environmental Design (LEED)).
Our headquarters building in San Francisco
is LEED Gold certified, our Wroclaw officein Poland is LEED Platinum certified,and Dolby also has offices in LEED certified
buildings in Munich, Beijing, Shenzhen,
and Singapore. Our total LEED certified
building space accounts for nearly half ofour total office space.
As our location strategy evolves, weare prioritizing occupancy within green
buildings and embedding environmentally
sustainable practices within our workspaces.

MINIMIZING WASTE AND WATER USAGE

We are minimizing waste to landfill acrossour real estate portfolio by implementing
recycling and composting programs where
possible. This includes increasing the useof recycled and compostable materials,
centralizing waste bins, and encouraging
local teams to identify ways to reduce
waste from our daily operations.
In Sydney, our team is sourcing refillable
cleaning and toiletry products, eliminating
the need for single-use plastics. Across ouroffices, we explore ways to donate officefurniture and supplies to local nonprofit
organizations, including in Ozark, Missouri,
where the team donated excess woodfrom speaker box production to local
communities for art projects.
Water is a vital resource, and we arecommitted to water stewardship. In
2022, we increased the cadence of ourwater data review and now conduct
monthly monitoring for our San Francisco
headquarters, our largest facility. This
increased attention enables us to makeinformed, timely decisions and continue
to identify opportunities to reduce ourwater consumption. While we have arelatively low water-consumptive business,
we continue to explore ways to improve
our water saving practices.

13Environment

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACYENGAGING WITH OUR VALUE CHAIN

In 2022, amongst our largest sources ofemissions were Purchased Goods andServices (including Capital Goods), Useof Sold Products, and Business Travel,
consistent with our 2019 base year. As
such, these categories are the focus of our
Scope 3 emissions reduction measures.
Through a supplier emissions assessment,
we identified our most emissions-intensive
suppliers. We plan to engage these
suppliers on our climate commitments andencourage them to set their own sciencebased targets.
To reduce the carbon intensity of our
product offerings, we’ve identified
a series of energy efficiency upgradesthat we plan to implement over the
coming years. To drive down travelrelated emissions, we are aiming to reduceoverall business air travel and encourage
employees to take flights that use
Sustainable Aviation Fuel as this option
becomes more readily available.

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Rapid digital transformation,
economic and geopoliticaluncertainty, and the COVID-19
pandemic accelerated changes
to how we all work and live.
We are creating the futureof work at Dolby by meetingthe conditions of today anddesigning a future fueledby connection, collaboration,and belonging.
People are inherently social,
and we believe people are drawn
to opportunities that enable
learning, sharing of stories, andcreating communities. We aim
to empower our employees to
be at their best by fostering aprofessional community thatchampions learning, promoting
fairness, removing biases fromour systems and processes,
implementing total wellbeing
programs, and investing in our
local and global communities.

ocia

Social15

Social01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBY

Building a Culture of Diversity,
Inclusion, and Belonging
Diversity, Inclusion, and Belonging(DIB) is foundational to our company.

To spark positive change, bolster employee resiliency, and strengthen ourcommunity, DIB is embedded across company programs. Our approachcomprises investing in the next generation of diverse talent, increasing
representation of our existing workforce, cultivating a culture of inclusion andbelonging, and advancing and retaining our employees.

New Dolby employees
welcomed at new hireorientation.

APPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

16

Social01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORTFOSTERING DIVERSE TALENT, NOW AND IN THE FUTURE

02 Environment

We support science, technology,
engineering, arts, and mathematics(STEAM) education initiatives aimed
at students from primary to university
education. Through financial investments
and skills-based employee engagementwith organizations including the ArtsMedia and Entertainment (AME) Institute,
the University of Sydney’s Women in
Engineering Program, IGNITE Worldwide
in the U.S. and Poland, and Girls Make
Beats, we encourage diverse voices fromthe next generation to discover how thepower of storytelling unites an audiencein a shared human experience.

SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 GovernanceThrough our Social Impact Team and
The Dolby Institute, we bring technicaland creative educational content
to students from underrepresented
backgrounds and provide educatorswith industry exposure and technicalskills development. This enhances

BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY“

05 ESG Data

In 2022, we continued our investments
and partnerships with organizations
focused on underrepresented populations,
including Historically Black Colleges andUniversities (HBCUs), Hispanic-Serving
Institutions, and nonprofit organizations
to help develop the next generation ofdiverse talent.
Two of our most impactful programs
were reaching over 500 HBCU students
in partnership with HBCU 20x20
to explore how we can support theirjob search challenges and uncoveremployment barriers, and launching thefirst cohort of the Dolby Graduate Onramp(GO), a program that brings early career
professionals of underrepresented
ethnic/racial identities to Dolby as fulltime employees.

We’re designing for a future of work that is boundaryless.
We believe our talent and our communities are one
ecosystem. If each of us is intentional about our actions,
we’ll create an environment that fuels a more equitable
and inclusive future.

SASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)“

ESG METRICS-AT-A-GLANCE

2022
SUSTAINABILITYREPORT

curriculum and provides diverse students
the skills needed to enter the creative,
entertainment, and technology workforce.

— LINDA ROGERS, CHIEF PEOPLE OFFICER
Dolby’s University Relations team on the hustle.

17

Social01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORTCULTIVATING A CULTURE
OF INCLUSION AND BELONGING

Creating a community where individual
perspectives are welcomed, where everyone
feels a sense of inclusion and belonging, andwhere we’re united in building awarenessand strengthening connections, requires
participation from all of our employees.
Dolby’s 14 global Employee Networks
represent multiple dimensions of diversity,with a common purpose of building acommunity of allies that inspire one anotherto thrive personally and professionally. Our
Employee Networks play a leadershiprole in guiding the company’s developmentof practices and initiatives to advancediversity, inclusion, and belonging within
our workplace and in our communities.
To foster more allyship and connection with
our underrepresented communities, in 2022,
we welcomed our newest group, the Men+
Allyship Network, which focuses on exploring
men’s roles as allies in diversity, inclusion,and belonging.
Mentoring is an important component for our
Employee Networks. In 2022, participation in
Obsidian’s (our Black Employee Network) and
WE’s (our Women’s Empowerment Employee
Network) annual mentorship programs
increased significantly.
Dolby Australia
employees enjoying
Diwali 2022 with a
Bollywood Dance Class.

18

Social01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONOUR DEMOGRAPHICS

In 2022, we increased therepresentation of women at thecompany globally, as well as
women in leadership roles.
Additionally, in the United States,
we increased representation
amongst employees fromunderrepresented ethnic/
racial groups.

EMPLOYEE DEMOGRAPHICS — GLOBAL GENDER

ALL EMPLOYEESDIRECTOR-LEVEL MANAGERS AND ABOVE

0.3%

0.3%
18.8%

28.9%

Diversity, inclusion, and belonging
is a journey. We’re committed
to expanding our efforts, drawing
on our successes and learnings,
and challenging ourselvesto accelerate progress toward amore equitable world.

70.9%

80.9%

TECHNICAL ROLESNON-TECHNICAL ROLES

0.3%

0.2%

16.6%

RESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

39.9%

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

83.1%

Data as of September 2022. Please see our ESG Metrics-at-a-Glance for historical data. Numbers
may not sum due to rounding.

Men

59.9%

Women

Non-Binary

19Social01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment

EMPLOYEE DEMOGRAPHICS — U.S. RACE AND ETHNICITYSETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAALL U.S. EMPLOYEESDIRECTOR-LEVELMANAGERS AND ABOVETECHNICAL ROLESNON-TECHNICAL ROLES

0.3%

0.0%

0.2%

0.4%

or Alaska Nativeor Alaska Nativeor Alaska Nativeor Alaska Native

JOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

Native American

Native American

Native American

0.6%

0.0%

0.0%

0.9%

2.8%

0.8%

2.4%

3.0%

2.9%

1.6%

1.5%

3.6%

7.9%

4.1%

5.5%

9.3%

31.4%

21.0%

34.8%

29.3%

53.8%

72.0%

55.1%

53.1%

Native Hawaiian or
Pacfiic Islander

Two or More Races

Black orAfrican American

Hispanic or Latino

Asian

White

2022
SUSTAINABILITYREPORT

Native American

Native Hawaiian or
Pacfiic Islander

Two or More Races

Black orAfrican American

Hispanic or Latino

Asian

White

Native Hawaiian or
Pacfiic Islander

Two or More Races

Black orAfrican American

Hispanic or Latino

Asian

White

Data as of September 2022. Please see our ESG Metrics-at-a-Glance for historical data. Numbers may not sum due to rounding.

Native Hawaiian or
Pacfiic Islander

Two or More Races

Black orAfrican American

Hispanic or Latino

Asian

White

20

Social01 Introduction
CEO LETTERHIGHLIGHT STORYABOUT DOLBYABOUT THIS REPORT

Dolby GO Program

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTS

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

Dolby GO 2022 Cohort“

Keon Jukes, a Dolby GO
participant, reflected that there area lot of spaces where people from
non-traditional or marginalized
backgrounds feel like they don’t
belong, and that having a group ofpeople that can relate to each otheris impactful and reassures everyone
that they do belong.
Anita Stokes, Senior University
Relations Manager is proud of thecompany’s commitment to going
beyond a surface level early career
leadership program, and is excitedabout growing and evolving the
Dolby GO program in the future.

This strategy is forward thinking—I really like that Dolby is taking astand and making it a priority to support employees frombackgrounds like mine to give us an opportunity and help retainus.

“

SAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

Created in 2022, the Dolby
Graduate Onramp (GO) Program
brought early career professionals
from underrepresented communities
to Dolby in full-time engineering andsales positions. The employees areprovided resources to support themin launching their careers, including
mentoring, educational sessions on
interpersonal effectiveness,leadership, financial literacy, andaddressing unconscious bias, as well
as social and community
engagement opportunities. The
program also engages managers,
who participate in an equitable
leadership program to better
understand the barriers employees
from different backgrounds may face.

— KEON JUKES, ASSOCIATE SOFTWARE ENGINEER AND DOLBY GO PARTICIPANT
21

Social01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE

Interaction hubs in Dolby locations around the globe create space for our employees to connect and collaborate.

A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

Creating the Future of Work @Dolby
The pandemic accelerated trends and taught us how to work andconnect differently. To create the Future of Work @Dolby,
we’re designing a way of working that is focused and collaborative,
globally inclusive, and broadens our access to talent.
In this work environment, teams design how they’ll cometogether in-person and virtually based on how to best get theirwork done. This is a dynamic program. This way of working
requires our employees to be agile, experiment relentlessly, andcontinuously adapt.

Our business changes, our work changes, andour lives change. At Dolby, we’re continuously
evolving how we work.

22

Social01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT

Approach to Wellbeing
Our mission is to create a healthy, inclusive, andsupportive environment where employees are
empowered and equipped to achieve their goals.
This encompasses programs that support total wellbeing by addressing
employees’ physical, mental, social, and financial wellbeing.
The team delivered a blueprint for programs that drive social
connection in a hybrid environment, including a revamped New Hire
Welcome program, in-person and virtual access to our onsite Fitness
Center, and ongoing Dolby in-office and virtual events.

To raise awareness and address mental health, we offer an on-demand
workplace mental health training program that serves as a toolkit ofresources. For the unique challenges of our Employee Network
communities, we connect these employees to customized wellbeing
tools. Employees are enabled with trainings that include guidance on
setting healthy boundaries between work and life and encouraging
dialogue that creates a psychologically safe workplace.

Dolby’s network of global wellbeing
representatives have implemented
over 80 programs and initiatives to foster
global connection and ensure a senseof community.

THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT23

Social01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

Enabling Employee
Health and Safety
The health and safety of our employees is a toppriority for Dolby.
As part of COVID-19 management,
we implemented safety protocols
that incorporated a multitude of inputs,
including information from local
public health organizations andgovernments, global data and trends,
our readiness to adopt practices
to protect one another, and overall
employee sentiment.

Dolby has a virtual ergonomic
program, where employees receive
web-based training and guided
self-assessments of their home
workstation, virtual one-on-one
assessments with ergonomists, andongoing education to reduce risk
factors and create a productive andefficient work environment.

A Global Work from Home
Environmental, Health, and Safety(EH&S) Plan and Emergency
Management Guidelines for Remote
Workers were implemented to enable
our Flex Work @Dolby initiative.
These plans provide guidance onmanaging risks associated with remote
work activities, working alone, andpotentially hazardous activities such as
electrical and laser-related work.

24Social01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

Empowering Employees throughLearning and Development
Enabling employees
to drive impact andmeet their professional
goals is central to
our learning anddevelopment programs.
In 2022, we launched Leadership
Impact @Dolby, an initiative thatbrings leaders across business units
and functions together to enablestrategic collaboration. This initiative
enables Dolby leaders to break
down silos, learn from other leaders,
work together on our mostimportant initiatives, and hold eachother accountable for engaging
with their teams.

Our development programs support
managers in leading diverse teams
inclusively and equitably. Instructorled and online learning courses that
focus on developing interpersonal
skills, communication, collaboration,and innovation are available toemployees on a regular basis.
Mentor-matching opportunities areoffered to global employees basedon skills and interests. Employees
also have unlimited access to the
LinkedIn Learning library of online
courses and instructional videos tostrenghten software, creative, andbusiness skills.
Beyond traditional learning
resources, Dolby’s TalentMarketplace connects employeeswith short term, internal work
opportunities that align businessneeds with their passions,experience, and skills. This programsupports employee growth anddevelopment through project
rotations and exposure to business
opportunities and relationships
beyond their regular responsibilities.
25

Social01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT

Dolby Cares backpack-build event, supporting San Francisco Bay Area youth.

GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

Generating
Social Impact
At Dolby, we are activating
our talent, resources, andtechnology in pursuit of asustainable and equitable future.
Through strategic employee engagement,
business partnership and practices, andcommunity investments, we strive to inspire thenext generation of diverse talent, address thecritical needs in our communities, and serve asa steward of the environment.

EMPLOYEE VOLUNTEERING AND GIVING

Dolby Cares, our community engagement program,mobilizes employees from locations around theworld in pursuit of transforming our communities
through volunteering as individuals, alongside theircolleagues and teams, and through our Employee
Networks. Partnering with educators and students,
mentoring adults re-entering the workforce, andsupporting children and families in need, are someof the ways our employees are creating an impact inour communities.
Throughout the year and during Dolby Cares
Week, our annual global week of action held in
April, employees participated in virtual and inperson educational sessions and volunteer events,
addressing community needs, educational initiatives,and environmental causes.

Our Dolby Match program, which matches
employees’ financial donations, amplified our
employees’ impact, with employee contributions
and company matching increasing in 2022.
In addition to employees’ regular annual giving,
Dolby employees empathetically respond tosocial, environmental, and humanitarian crises
throughout the year through fundraising campaigns.

In 2022, we brought backin-person events.

26

Social01 Introduction
CEO LETTERSOCIAL IMPACT DATAABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBY$3.5M

COMPANYCONTRIBUTIONS ($USD)(Financial Grants and Matching
Contributions through the Dolby
Charitable Fund and the Company)

APPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTION48%

EMPLOYEE PARTICIPATIONIN DOLBY CARESPROGRAMS(Volunteerism, Community Education,
and Financial Giving)

RESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

6,100 +

Girls Make Beats empowers girls by expanding the female presence of music producers, DJs, and audio engineers.
CHARITABLE GRANTSCOMMUNITYENGAGEMENT HOURS

Dolby’s Social Impact efforts focus on addressing social and educational inequities with the majority of our grantfunding serving underrepresented groups including girls, women, and people of color.

(Dolby Sponsored Events andVolunteer Hours Tracked by
Employees)

Our grants are aligned with our focus areas and support our communities around the globe. Some of oureducational and community partners include Bay Area Video Coalition, the Arts Media and Entertainment (AME)
Institute, the University of Sydney’s Women in Engineering Program, IGNITE Worldwide in the U.S. and Poland,Girls Make Beats, Variety Boys & Girls Club, 826 Valencia, Code Tenderloin, and GRID Alternatives.
27

Social01 Introduction
ABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONHIGHLIGHT STORY

Employee-Led Humanitarian Aid
In February 2022, our employees
based in Wroclaw, Poland activated tosupport Ukrainian refugees. Employees
hosted refugee families, triaged attrain stations, refurbished laptops forfamilies hosting school-age children,and gathered school supplies for
impacted youth in their community. To
support employee volunteerism andgiving for refugees, Dolby expanded
its benefits by providing extra days
off and a stipend to help employees
purchase supplies and necessities forpeople in need. Our local office also
hired a part-time contractor fluent in
Polish and Ukrainian to facilitate giving
and volunteer activities with local
Polish and Ukrainian organizations.

Magda, a member of the People
and Places Team in Poland, hosted adisplaced family. “We decided to dosomething practical, and we looked
for a family to support. We wereconnected with a young woman who
fled Odessa with her four children,leaving behind all their possessions,and hosted them for three months.
We lived together as one huge family
and became very close. It was a great
learning experience not only for myhusband and me, but also for our
three-year old son. We learned a lot
about their culture and traditions, butwhat is most important is that we madea lifelong friendship.”
Dolby employee, Magda (second from left), opened her home to a
Ukrainian family.

RESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)“

Even now, although they have since moved to another country,
we are still in contact and continue to support each other. I am
grateful for this experience and that I was able to help.
— MAGDA, DOLBY EMPLOYEE2022
SUSTAINABILITYREPORT“

CEO LETTER28

We hold ourselves, our suppliers,and partners to the highest
ethical standards. Accountability
for ethical behavior, investingin safeguards to support data
privacy, and Board of Directors
oversight are some of the ways
we ensure integrity and trust in all
our interactions.

over

Dolby’s governance practices
are driven by our commitment tointegrity and promoting long-termvalue for the people we serve—from customers, to employees,
to shareholders. Our values areintegrated into our innovation
principles, business decisions, andprocurement choices.

Governance

Governance29Governance

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data

Board of Directors Oversight
Our Board of Directors oversees and monitors governance issues, including Board independence,
Board composition and refreshment, executive and Board compensation, and succession planning.
Our Board of Directors also
oversees and monitors Dolby’s
corporate strategy, risk management,
performance, and executive
management. Our current committees
include Audit, Compensation, andNominating and Governance, each ofwhich is comprised of independent
directors. We also have a Stock Plan
Committee and an ad hoc Technology
Strategy Committee, both of which
include independent directors.

Through our Compensation
Committee, our Board of Directors
provides oversight of human capitalmanagement. Our Nominatingand Governance Committee
works with the Board of Directors
on management succession andoversees Environmental, Social, andGovernance (ESG) matters. Our
Audit Committee oversees complianceand cybersecurity matters. The Board
and Board committees are supported
in these efforts by the Executive
Leadership Team, as well as the People
and Places, Legal, and Ethics andCompliance teams.
For more information on Dolby’s
Board and governance, please see our2023 Annual Meeting Proxy Statement.

9 Board Members

7 Independent members
3 Directors are womenwith one or more diverse
5 Identify
groups in ethnicity or race

ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT30

Governance

01 Introduction
CEO LETTERABOUT DOLBY

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

The Right Components for Ethics and Compliance
Our Code of Business Conduct and Ethics (Code of Conduct)is the foundation of our ethics and compliance program andguides how we conduct ourselves in our relationships with
our stakeholders and with one another.
The Code of Conduct includes Dolby’s
perspective on social and environmental
initiatives and our approach to supplierand third party compliance in the areasof anticorruption, responsible sourcing,sustainability, and human rights.
We expect everyone working on ourbehalf, including employees, contractors,
and Board Members, to comply with
our Code of Conduct and observe ourlegal and ethical standards. Additionally,
employees periodically complete
training and education on key ethics andcompliance topics.

If employees or third parties have aconcern, they can report the concern via
phone or online to our Ethics Hotline,
which is operated by a third party andavailable 24 hours a day, seven days aweek. Reports may be filed anonymously,
where permitted by local law. Whenconcerns are raised by employees orpartners via our hotline or any otherchannel, they are managed by our Ethics
and Compliance Office. More informationon our Ethics Hotline can be found in
our Code of Conduct.

“

Our reputation as an innovatorand a trusted partner is oneof our most important assets.
Our employees, customers,
partners, investors, andcommunities expect that we
conduct business in the way
we have always done it—fairly,
honestly, and ethically. Dolby’s
reputation and how we dobusiness are core to our success.
— ANDY SHERMAN
EVP, GENERAL COUNSEL, CORPORATESECRETARY, AND CHIEF ETHICS ANDCOMPLIANCE OFFICER“ABOUT THIS REPORT

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT31

Governance

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

A Clear Focus on Anticorruption
We conduct business with integrity, and do not tolerate
corrupt behavior, including bribery or kickbacks.
As part of our broader commitment
to ethical working practices andadherence to applicable anticorruption
laws, including the US Foreign Corrupt
Practices Act and the UK Bribery Act,
Dolby has a global anticorruption
program which includes governancemechanisms to ensure that our
Anticorruption Policy is followed by both
our employees and business partners.
We also mandate anticorruption training
on a biannual basis for a subset of
employees with related job activities.

IN 2022,98%
OF DESIGNATED
EMPLOYEESCOMPLETEDANTICORRUPTIONTRAINING.

To mitigate corruption and other risks
associated with our business partners,
we have developed a Partner Risk
Assessment and Due Diligence (PRADD)
program. The PRADD program wasrecently updated to include a predictive
algorithm that enables the identificationof high-risk partners based on variables
such as geography, nature of business,and government interaction. The
algorithm generates a risk score foreach partner, which is used to determine
the appropriate level of due diligence
review. High-risk partners receive
the most robust and comprehensive
investigative reviews. Our PRADD
program enables Dolby to identify ordetect fraud, corruption, bribery, humanrights violations, and other risks before
we engage in business with third parties
and throughout their life cycle.
Learn more about our Anticorruption
Policy here.

32

Governance

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTS

Respecting Human Rights
Human rights are fundamental rights, freedoms, and standards of treatment to which all people are entitled,
and we recognize our responsibility to respect, advance, and maintain global human rights standards across ourcompany, operations, and supply chain.
Dolby supports the principles established under theUnited Nations Universal Declaration of Human Rights
and prohibits the employment of underage children,
forced labor, and human trafficking, as well as any formof physical punishment or abuse. We expect suppliers
throughout our global supply chain to share ourcommitment to the same high standards. In 2022, weestablished a Business Partner Code of Conduct thatapplies clear requirements and expectations for all Dolby
suppliers, vendors, and other business partners related
to human rights, the environment, responsible material
sourcing, and responsible business practices.

We comply with the conflict minerals requirements
associated with the Dodd-Frank Act and have a
dedicated conflict minerals project team comprisedof representatives from our engineering, legal, andprocurement teams who provide oversight of our conflictminerals program. We are also committed to complying
with the UK Modern Slavery Act of 2015 and have taken
steps to ensure modern slavery and human trafficking do
not play a role in our business.
Our policy statements addressing these initiatives areavailable on our website using the links below.
Conflict Minerals Policy
Modern Slavery Act Transparency Statement

SAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

33

Governance

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

Safeguarding Trustthrough Cybersecurity
and Data Privacy
Securing our data and protecting privacy areimportant to safeguarding our business andthe trust of our stakeholders.
As we continue to develop technologies, we remain committed to thegoal of maintaining a strong cybersecurity and privacy foundation.
We invest in people, policies, processes, training, and technology
to support data security, privacy, and resilience. Our efforts aremanaged, in part, by Dolby’s Security, Privacy, Audit, Risk, andCompliance (SPARC) Council, which is comprised of representatives
from various business groups across the organization.
Our internal security and privacy practices strive to enable themitigation, detection, and response to security and privacy events.
We conduct periodic training exercises, which involve multiple
internal teams as well as external partners and agencies, toimprove and ensure the effectiveness of our response capabilities.
The online training covers current hacker attack methods, dataprotection techniques, and privacy training.
In addition, we continue to develop and enhance our cyberdefense playbooks, improve detection capabilities, and mitigate
cybersecurity risk. Areas of focus include threat intelligence, threat
detection, network security, cloud security, endpoint protections,insider threat, and email security.
34

Governance

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

In 2022, we launched a
new security learning
management system,
which provides education
to employees on relevantcybersecurity topics,
as well as phishing
simulation campaigns.

Through our global Cybersecurity AwarenessMonth campaign, we educated and engaged
employees in the prevention of cybersecurity attacks
on devices both in our offices and remote work
locations. We hosted interactive sessions and sent
communications that covered topics including multifactor authentication, password protection, softwareand device updates, and phishing. Additionally,
we launched a new Data Loss Protection platform
for mitigation of insider threat and Cloud Security
Posture Management capability for monitoring andgovernance of cloud infrastructure security.

To extend our commitment to cybersecurity anddata privacy to our business partners, weincorporate terms in our agreements on thesematters and conduct periodic security reviews ofvendors to ensure compliance. Furthermore, Dolby
has implemented a system to manage third party
compliance with Dolby security standards during
the third party onboarding process.
We incorporate privacy-by-design and data
minimization principles across our products andservices, manage procedure and protocol updates
in light of new privacy and data security laws, andconduct ongoing reviews of our privacy practices
with assistance from subject matter experts.
35

SASB Index
GRI Index
Managing Sustainability
Risks (EU NFRD)

SG Dat

ESG Metrics-at-a-Glance

ESG Data

ESG Data

36

ESG Data

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCE

ESG Metrics-at-a-Glance
METRICENSURING QUALITY
EMISSIONS DATA

FY20

FY21

FY22

Total GHG Emissions(Scope 1,2, & 3)
(Market-Based)(MT CO2e)155,964

116,098

74,23282,412

Scope 1 (MT CO2e)

1,167

882

912

922

Scope 2 Location-Based(MT CO2e)

5,753

4,992

4,318

4,410

Scope 2 Market-Based(MT CO2e)

4,148

3,331

2,670

3,000

Total Scope 3 Emissions(MT CO2e)150,650

111,884

70,65078,490

Scope 3—Purchased Goods andServices (MT CO2e)52,52946,297

29,72528,151

Scope 3—Capital Goods(MT CO2e)11,309

8,118

4,635

5,257

Scope 3—Fuel-and EnergyRelated Activities (FERA)(MT CO2e)

5,156

4,319

2,910

971

Scope 3—Upstream
Transportation and Distribution(MT CO2e)

9,455

9,004

8,405

4,601

Scope 3—Waste Generated
in Operations (MT CO2e)

108

127

120

144

Scope 3—Business Travel(MT CO2e)15,296

6,114

481

3,754

Scope 3—Employee Commute& Work From Home

4,356

3,053

1,672

2,537

Scope 3—Upstream Leased
Assets3 (MT CO2e)

0

0

0

0

ENVIRONMENTJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

FY19

3

Upstream Leased Assets are included in Dolby’s inventory, but emissions are zero due to energy covered by EACs at co-locations.

37

ESG Data

01 Introduction
CEO LETTERABOUT DOLBYMETRICABOUT THIS REPORT

02 Environment

FY19

FY20

FY21

FY22

Scope 3—Downstream
Transportation and Distribution(MT CO2e)

1,192

1,069

473

1,236

Scope 3—Use of Sold Products(MT CO2e)50,73333,146

21,54831,458

Scope 3—End-of-Life Treatment
of Sold Products (MT CO2e)

86

53

30

40

Scope 3—Downstream Leased
Assets (MT CO2e)

430

586

652

341

Carbon Intensity (Scope 1
and Scope 2) Market-Based(MT CO2e/FTE)

2.42

1.84

1.51

1.68

Total Energy Consumption (MWh)20,51818,45917,692

17,889Total Natural Gas Consumption(Therms)

111,990

114,829

141,339

149,087

Total Electricity Consumption(MWh)17,237

15,094

13,551

13,496

Total Bundled Renewable
Electricity Purchases (MWh)4

976

2,678

7,449

7,692

Total Energy AttributeCertificates (EACs) (MWh)

0

0

0

5,808

Total Renewable Electricity (%)

6%

18%

55%

100%

ENVIRONMENTSETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETY

EnergyEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

Environmental, Health, and Safety (EHS) — Waste
Hazardous Waste (lbs.)

925

685

1,604

2,385

ESG METRICS-AT-A-GLANCE

Number of Spills

0

0

0

0

SASB INDEX

Hydrocarbon Spills

0

0

0

0

Amount of Spills (Tonnes)

0

0

0

0

05 ESG Data

GRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

4

Bundled Purchases include all voluntary purchases of renewable electricity with the exception of unbundled EACs.

38

ESG Data

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORTMETRIC

FY19

FY20

FY21

FY22

ENVIRONMENT
Product Information
Waste Electrical and Electronic
Equipment, Packaging, andBattery Registrations

WEEE Packaging Battery Information

EU Reach Regulation

REACH SVHC Compliance

Environmental, Health, and Safety (EHS) — Safety
Workforce Accidents(Number of Employees)

8

2

1

2

Lost Time from Accidents(Number of Days)

0

0

0

0

Lost Time Incident Rate

0

0

0

0

Total Recordable Incident Rate

0.3

0.2

0.1

0.2

Fatalities (Number of Employees)

0

0

0

0

Fatalities (Number of Third Parties)

0

0

0

0

Total Full-Time Employees (FTE)

2,193

2,289

2,368

2,336

Percent of Employee Turnover

8.9%

6.6%

7.0%

10.4%

Gender:Global Employees

Women: 26.3%

Women: 27.4%

Women: 28.4%

Women: 28.9%

Men: 73.7%

Men: 72.6%

Men: 71.4%

Men: 70.9%

Non-Binary: 0.1%

Non-Binary: 0.3%

Gender:Director-Level Managers
and Above

Women: 15.1%

Women: 15.8%

Women: 17.9%

Women: 18.8%

Men: 84.9%

Men: 84.2%

Men: 81.8%

Men: 80.9%

Non-Binary: 0.3%

Non-Binary: 0.3%

Gender:Global Technical Roles

Women: 14.7%

Women: 16.5%

Women: 17.1%

Women: 16.6%

Men: 85.3%

Men: 83.5%

Men: 82.6%

Men: 83.1%

Non-Binary: 0.3%

Non-Binary: 0.3%

SOCIAL
Workforce Statistics

39

ESG Data

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

METRICCREATING THE FUTURE OF
WORK @DOLBYGender:Global Non-Technical Roles

Race and Ethnicity:
U.S. Employees

ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT

04 GovernanceRace and Ethnicity:
Director-Level Managers
and Above

BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

Race and Ethnicity:
U.S. Technical Roles

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

FY21

FY22

Women: 35.9%

Women: 36.2%

Women: 38.3%

Women: 39.9%

Men: 64.1%

Men: 63.8%

Men: 61.6%

Men: 59.9%

Non-Binary: 0.1%

Non-Binary: 0.2%

Asian: 29.9%

Asian: 31.1%

Asian: 31.5%

Asian: 31.4%

Black or African American: 2.4%

Black or African American: 2.2%

Black or African American: 2.2%

Black or African American: 2.9%

Hispanic or Latino: 7.1%

Hispanic or Latino: 7.0%

Hispanic or Latino: 6.7%

Hispanic or Latino: 7.9%

Native American or Alaska Native: 0.3%

Native American or Alaska Native: 0.4%

Native American or Alaska Native: 0.4%

Native American or Alaska Native: 0.3%

Native Hawaiian or Pacific Islander: 0.7%

Native Hawaiian or Pacific Islander: 0.8%

Native Hawaiian or Pacific Islander: 0.6%

Native Hawaiian or Pacific Islander: 0.6%

Two or More Races: 2.3%

Two or More Races: 2.4%

Two or More Races: 3.0%

Two or More Races: 2.8%

White: 57.2%

White: 55.9%

White: 55.5%

White: 53.8%

Asian: 19.6%

Asian: 21.5%

Asian: 21.8%

Asian: 21.0%

Black or African American: 2.4%

Black or African American: 1.7%

Black or African American: 2.0%

Black or African American: 1.6%

Hispanic or Latino: 3.3%

Hispanic or Latino: 3.3%

Hispanic or Latino: 3.6%

Hispanic or Latino: 4.1%

Native American or Alaska Native: 0%

Native American or Alaska Native: 0%

Native American or Alaska Native: 0%

Native American or Alaska Native: 0%

Native Hawaiian or Pacific Islander: 0%

Native Hawaiian or Pacific Islander: 0%

Native Hawaiian or Pacific Islander: 0%

Native Hawaiian or Pacific Islander: 0%

Two or More Races: 0%

Two or More Races: 0.4%

Two or More Races: 0.8%

Two or More Races: 0.8%

White: 74.7%

White: 73.1%

White: 71.8%

White: 72.0%

Asian: 31.9%

Asian: 33.3%

Asian: 33.9%

Asian: 34.8%

Black or African American: 1.3%

Black or African American: 1.3%

Black or African American: 1.3%

Black or African American: 1.5%

Hispanic or Latino: 4.3%

Hispanic or Latino: 4.8%

Hispanic or Latino: 4.8%

Hispanic or Latino: 5.5%

Native American or Alaska Native: 0.2%

Native American or Alaska Native: 0.4%

Native American or Alaska Native: 0.4%

Native American or Alaska Native: 0.2%

Native Hawaiian or Pacific Islander: 1.1%

Native Hawaiian or Pacific Islander: 1.1%

Native Hawaiian or Pacific Islander: 0.2%

Native Hawaiian or Pacific Islander: 0%

Two or More Races: 1.9%

Two or More Races: 1.8%

Two or More Races: 2.6%

Two or More Races: 2.4%

White: 59.3%

White: 57.3%

White: 56.8%

White: 55.1%

Asian: 28.6%

Asian: 29.8%

Asian: 30.1%

Asian: 29.3%

Black or African American: 3.1%

Black or African American: 2.8%

Black or African American: 2.7%

Black or African American: 3.6%

Hispanic or Latino: 8.8%

Hispanic or Latino: 8.3%

Hispanic or Latino: 7.8%

Hispanic or Latino: 9.3%

Native American or Alaska Native: 0.4%

Native American or Alaska Native: 0.4%

Native American or Alaska Native: 0.4%

Native American or Alaska Native: 0.4%

Native Hawaiian or Pacific Islander: 0.5%

Native Hawaiian or Pacific Islander: 0.6%

Native Hawaiian or Pacific Islander: 0.9%

Native Hawaiian or Pacific Islander: 0.9%

Two or More Races: 2.5%

Two or More Races: 2.8%

Two or More Races: 3.3%

Two or More Races: 3.0%

White: 55.9%

White: 55.1%

White: 54.8%

White: 53.1%

Workforce Statistics

APPROACH TO WELLBEING

GENERATING SOCIAL IMPACTFY20

SOCIAL

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING

FY19

Race and Ethnicity:
U.S. Non-Technical Roles

40

ESG Data

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORTMETRIC

FY19

FY20

FY21

FY22

Employee Participation in Dolby
Cares Programs (Volunteerism,
Community Education, andFinancial Giving)

51.9%

42.3%

47.2%

48.1%

Community Engagement Hours(Dolby Sponsored Events andVolunteer Hours Tracked by
Employees)

11,607

6,079

5,364

6,183

Company Contributions $USD
(Financial Grants and Matching
Contributions Through the
Dolby Charitable Fund and theCompany)$2.4 Million$3.0 Million$2.8 Million$3.5 Million

SOCIAL
Social Impact

Diversity, Inclusion, and Belonging
Number of Employee
Network Groups

10

12

13

14

Number of Employees in One orMore Employee Networks

741

727

684

745

Percent of Employees Who Are
Members of Employee Networks(Unduplicated)

33.8%

31.8%

28.9%

32%

Diversity, Inclusion, andBelonging Website

Dolby.com/DIB

Equal Opportunity Policy

Equal Employment Opportunity$1.24 Billion$1.16 Billion$1.28 Billion$1.25 Billion$237.9 Million$239 Million$253.6 Million$261.2 Million

Number of Issued Patents

11,40013,20015,50016,900

Number of Pending Patents

4,100

4,100

4,000

4,100

GOVERNANCE
Revenue
Total Revenue ($)
Innovation
Research and Development
Spend ($USD)
Intellectual Property

41

ESG Data

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING

SASB Index
CODE

ACCOUNTING METRICENVIRONMENTAL FOOTPRINT OF HARDWARE INFRASTRUCTURE
TC-SI-130a.1(1) Total energy consumed, (2) percentage grid electricity,(3) percentage renewable

17,889 MWh (64,401 GJ), 75%, 100%

TC-SI-130a.2(1) Total water withdrawn, (2) total water consumed, percentage of each inregions with High or Extremely High Baseline Water Stress

2,430,597 Gallons (9,201 m3), 762,878 Gallons (2,888 m3)

TC-SI-130a.3

Discussion of the integration of environmental considerations into strategicplanning for data center needs

CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data

2022
SUSTAINABILITYREPORT

This reflects 33% coverage of our real estate portfolio.
Dolby does not own any data centers. We have a very small footprint (less than 6 racks) of storage andcompute workloads running at data co-location facilities at this time, both of which use 100% renewableenergy. We will continue to prioritize providers that have a strong commitment to minimizing their impact on
the environment in future co-location selection processes.

TC-SI-220a.1

Description of policies and practices relating to behavioral advertising anduser privacy

Global Privacy Policy

TC-SI-220a.2

Number of users whose information is used for secondary purposes

Dolby implements data privacy and security policies and procedures to protect our customers, partners, andemployees. Dolby’s Global Privacy Policy describes the information we collect from our customers, how weprocess it, and for what purposes.

TC-SI-220a.5

List of countries where core products or services are subject to governmentrequired monitoring, blocking, content filtering, or censoring

To our knowledge, our core products and services are not subject to government-required monitoring,
blocking, content filtering, or censoring. Our technology is integrated into a wide variety of devices andcontent delivery platforms; certain of those devices and platforms may themselves be subject to suchgovernment-required limitations.

Description of approach to identifying and addressing data security risks,
including use of third party cybersecurity standards

Sustainability Report, Safeguarding Trust through Cybersecurity and Data Privacy

DATA SECURITY
TC-SI-230a.2

RECRUITING AND MANAGING A GLOBAL, DIVERSE, AND SKILLED WORKFORCE
TC-SI-330a.1

Percentage of employees that are (1) foreign nationals and(2) located offshore

3.7% of our employees are foreign nationals in the U.S. and 1.5% are foreign nationals in countries outsideof the U.S. 47% of Dolby’s employees are based outside of the U.S.

TC-SI-330a.2

Employee engagement as a percentage

In our company-wide 2022 annual employee engagement survey, our Motivation and Commitment scoresshowed an 82% favorability, indicating that our employees remain highly engaged and connected to our workand each other.

TC-SI-330a.3

Percentage of gender and racial/ethnic group representation for(1) management, (2) technical staff, and (3) all other employees

Sustainability Report, ESG Metrics-at-a-Glance

GRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

Sustainability Report, ESG Metrics-at-a-Glance

DATA PRIVACY AND FREEDOM OF EXPRESSION

ESG METRICS-AT-A-GLANCESASB INDEXDISCLOSURE

42

ESG Data

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATACODEACCOUNTING METRICINTELLECTUAL PROPERTY PROTECTION AND COMPETITIVE BEHAVIOR
TC-SI-520a.1

Total amount of monetary losses as a result of legal proceedings associatedwith anticompetitive behavior regulations

TC-SI-550a.1

Number of (1) performance issues and (2) service disruptions;(3) total customer downtime

BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBY

TC-SI-550a.2

Description of business continuity risks related to disruptions of operations

Our business is primarily based on technology licensing arrangements. As such, downtime related todisruptions and performance are not particularly significant issues for our customer base, and we do notcurrently report this data.
Dolby’s Enterprise Resiliency Team (ERT) comprises representatives from every company group, enabling ourbusiness to operate without interruption. The ERT identifies and addresses potential risks and evaluates thestrength of our business continuity systems, infrastructure, policies, and procedures.
Additional information about risks related to disruptions of operations can be found in our Form 10-K.

APPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETY

Form 10-K

MANAGING SYSTEMIC RISKS FROM TECHNOLOGY DISRUPTIONSJOURNEY TO CARBON NEUTRALITY

03 Social

DISCLOSURE

ACTIVITY METRICSEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT

TC-SI-000.A(1) Number of licenses or subscriptions, (2) percentage cloud-based

93% of our revenue comes from technology licensing arrangements with over 500 Original Equipment
Manufacturer (OEM) and software developer licensees.

GENERATING SOCIAL IMPACT

TC-SI-000.B(1) Data processing capacity, (2) percentage outsourced

93% of our revenue comes from technology licensing arrangements, which do not require significant volumesof data processing. As such, we do not currently report this data.

TC-SI-000.C(1) Amount of data storage, (2) percentage outsourced

93% of our revenue comes from technology licensing arrangements, which do not require significant volumesof data storage. As such, we do not currently report this data.

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

43

ESG Data

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEGRI Index

ENSURING QUALITY
EMISSIONS DATAGRI STANDARD

JOURNEY TO CARBON NEUTRALITY

GRI 101: FOUNDATION 201603 Social

CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

BOARD OF DIRECTORSOVERSIGHT

GRI 102: General
Disclosures102-1: Name of the organization

Dolby Laboratories, Inc.

102-2: Activities, brands, products,
and services

Form 10-K

102-3: Location of headquarters

San Francisco, California

102-4: Location of operations

Dolby Offices Worldwide

102-5: Ownership and legal form

Form 10-K

102-6: Markets served

Dolby’s products and services are available worldwide, where permitted by applicable law. Form 10-K

102-7: Scale of the organization

Form 10-K

102-8: Information on employees
and other workers

Sustainability Report, ESG Metrics-at-a-Glance

THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE

102-9: Supply chain

A CLEAR FOCUS ON
ANTICORRUPTION

102-10: Significant changes to theorganization and its supply chain

RESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

102-11: Precautionary Principle
or approach05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXSECTION/LINK

Organizational Profile

BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING

04 Governance

DISCLOSURE

102-12: External initiatives

Form 10-K
Sustainability Report, Engaging with Our Value Chain
Form 10-K
Our Corporate Governance incorporates risk management approaches to reduce and where possible, avoid negative impacts inoperations. Form 10-K
Proxy Statement
Our Fiscal Year 2022 Sustainability Report is prepared in accordance with the Global Reporting Initiative (GRI) Standards—Core option.
We also report Sustainability Accounting Standards Board (SASB) metrics that are most relevant to our business. The metrics reported
cover our global operations.

GRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

44

ESG Data

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment

GRI STANDARDDISCLOSURE

GRI 101: FOUNDATION 2016

SETTING TARGETS
IN LINE WITH SCIENCE

Dolby participates in numerous business and government-related associations. We review our memberships regularly to ensure ourcontinued participation brings value to the company as well as the associations. The following list is representative of the types ofassociations to which we belong:

ENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

102-13: Membership of associations

03 Social

APPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTS

Corporate Social Responsibility Associations: Business Council on Climate Change (San Francisco Bay Area) and Boston College Centerfor Corporate Citizenship
102: Strategy
GRI 102: General
Disclosures

ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

102-14: Statement from seniordecision-maker

Sustainability Report, CEO Letter

102: Ethics and Integrity
GRI 102: General
Disclosures102-16: Values, principles, standards,
and norms of behavior

Code of Business Conduct and Ethics

102-18: Governance structure

Sustainability Report, Governance102-22: Composition of the highest
governance body and its committees(not required)

Sustainability Report, GovernanceBusiness Partner Code of Conduct

102: Governance
GRI 102: General
Disclosures

102: Stakeholder Engagement

SAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data

Industry Associations: Third Generation Partnership Project (3GPP), Advanced Television Systems Committee (ATSC), Digital Video
Broadcasting (DVB), ISO/IEC JTC 1/SC 29 (MPEG, JPEG), United Nations International Telecommunication Union—Radiocommunication
Sector (ITU-R), and Society of Motion Picture and Television Engineers (SMPTE)
Government Relations Associations: Bay Area Council, U.S. Chamber of Commerce

BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYSECTION/LINKGRI 102: General
Disclosures

102-40: List of stakeholder groups

Customers, Stockholders and Investors, Employees, Suppliers, Local Communities and NGOs, Governments, and Media

102-41: Collective bargaining agreements

Dolby has not entered into any collective bargaining agreements.

102-42: Identifying
and selecting stakeholders

Dolby is committed to active engagement with our stakeholders. We monitor stakeholder interests relevant to our business andthe broader industry and develop ongoing relationships with our stakeholders through various engagement activities including
meetings, surveys, and open communications. In 2022, Dolby’s Sustainability Team leaders participated in the company’s Enterprise
Risk Assessment process to validate existing ESG material topics and to consider emerging issues. In addition to interviewing internal
leaders, we worked with an external consultant to confirm the priorities of our stakeholders including customers, suppliers, businesspeers, investors, and ESG ratings firms.

45

ESG Data

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment

GRI STANDARDDISCLOSURE

SECTION/LINKGRI 101: FOUNDATION 2016

SETTING TARGETS
IN LINE WITH SCIENCE

Customers: Customer meetings/calls, tradeshows, customer satisfaction surveys, and interaction through our customer-facing systems,
such as the Dolby Licensee Community and Dolby Customer portal. Frequency of these interactions varies by customer.

ENSURING QUALITY
EMISSIONS DATA

Stockholders and Investors: Quarterly Earnings Calls, quarterly Investor Relations meetings, annual Analyst Meeting, annual
Stockholders Meeting, individual outreach to top 25 stockholders, CFO presentations at investor conferences,
SEC filings, and annual Sustainability Report.

JOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING

102-43: Approachto stakeholder engagement

CREATING THE FUTURE OF
WORK @DOLBY

Governments: Ongoing engagement with governments, regulators, and policymakers including meetings, forums, written
submissions, and other contacts and interaction with governments in the regular course of business for compliance purposes aswell as cooperative initiatives such as lending technical expertise in the development of audio visual standards and engaging incommunity economic development.

ENABLING EMPLOYEEHEALTH AND SAFETY

GRI 102: General
Disclosures (Continued)

Media: Press releases, media alerts, social media, Dolby Newsroom, and media briefings.

GENERATING SOCIAL IMPACT

Customers: Dolby technology information, including current features and product roadmaps, how to obtain a license for a Dolby
technology, how to use Dolby technologies in their products, services, and content, marketing efforts, branding information from Dolby,
Dolby Partners, and authorized distributors for sale of Dolby hardware products.

04 Governance
BOARD OF DIRECTORSOVERSIGHT

Stockholders and Investors: Company performance, Corporate Governance, sustainability issues, and executive compensation.

THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data

Suppliers: Contracts in place with major suppliers, supplier meetings, site audits, and yearly certification for Conflict Minerals for
hardware programs.
Local Communities and NGOs: Participation on community organization advisory committees and boards, annual grant evaluations
and planning meetings with community partners, and ongoing engagement through employee volunteerism and educational sessions.

APPROACH TO WELLBEINGEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT

Employees: Quarterly employee meetings with CEO (company progress and earnings update), quarterly leaders’ guides, regularlyscheduled Q&A meetings with top leaders, Dolby News weekly newsletter, Dolby Connect intranet site, Dolby Cares Platform, MS
Teams groups, Works Council, and employee-led bi-annual performance discussions.

102-44: Key topics and concerns raised

Employees: Company and business group strategy, goals and progress, career development, diversity, inclusion, and belonging efforts,
benefits, wellbeing programs, social impact initiatives, and environmental sustainability efforts.
Suppliers: Fair trade, labor and human rights protection, safe manufacturing practices, and environmental protection and complianceinitiatives (EU RoHS, Reach, WEE, Conflict Minerals).
Local Communities and NGOs: Economic impacts of company performance, hiring, financial contributions, and volunteer engagement.
Governments: Government policies, programs, legislation, regulation, and standards, and other measures relevant to our stakeholders,such as compliance, health and safety, economic interests, and community investment.
Media: Prompt and transparent disclosure of information.

ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

46

ESG Data

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment

GRI STANDARDDISCLOSURE

SECTION/LINK

102: REPORTING PRACTICESETTING TARGETS
IN LINE WITH SCIENCE

102-45: Entities included in the
consolidated financial statements

Form 10-K, Exhibit 21.1

102-46: Defining report content andtopic Boundaries

Sustainability Report, About this Report102-47: List of material topics

Cybersecurity and Data Privacy, Diversity, Inclusion, and Belonging, Employee Wellbeing, Energy and Emissions, and Social Impact.

102-48: Restatements of information

We identified opportunities for data improvements in some Scope 3 emissions categories from our 2019-2021 GHG emissions
inventory, including Purchased Goods and Services, Capital Goods, Business Travel, and Use of Sold Products. Results of the inventory
can be found in our ESG Metrics-at-a-Glance.

102-49: Changes in reporting

There were no significant changes in reporting.

102-50: Reporting period

This report covers Dolby’s operations for FY22 (September 25, 2021 – September 30, 2022).

102-51: Date of most recent report

April 2022

102-52: Reporting cycle

Annual102-53: Contact point for questions
regarding the report

Sustainability@Dolby.com

BOARD OF DIRECTORSOVERSIGHT

102-54: Claims of reporting in accordancewith the GRI Standards

This report has been prepared in accordance with the GRI Standards: Core Option.

THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE

102-55: GRI content index

GRI Index

102-56: External assurance

Dolby engaged Apex Companies, an independent third party, to provide limited level of assurance verification of our fiscal year 2022
greenhouse gas (GHG) inventory. The scope of their review included Scope 1 GHG emissions, Scope 2 GHG emissions (location-based
and market-based), and select Scope 3 GHG emissions including Purchased Goods and Services, Capital Goods, Use of Sold Products,
Fuel- and Energy -Related Activities, Upstream Transportation and Distribution, and Business Travel. More details can be found in our2022 GHG Verification Statement.

ENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT

GRI 102: General
Disclosures

GENERATING SOCIAL IMPACT

04 Governance

A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data

MATERIAL TOPIC: ENERGY AND EMISSIONSESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

GRI 103: Management
Approach103-1: Explanation of the material topic
and its Boundary

Sustainability Report, Environment and Governance103-2: The management approachand its components

Sustainability Report, Environment and Governance103-3: Evaluation of
the management approach

Sustainability Report, Environment and Governance47

ESG Data

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment

GRI STANDARD

JOURNEY TO CARBON NEUTRALITYGRI 302: Energy

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING

GRI 103: Management
Approach

ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance

GRI 305: Emissions

BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE

302-1: Energy consumption
within the organization

Sustainability Report, ESG Metrics-at-a-Glance

302-2: Energy consumption
outside of the organization

Sustainability Report, ESG Metrics-at-a-Glance

302-3: Energy intensity

Sustainability Report, ESG Metrics-at-a-Glance

302-4: Reduction of energy consumption

Sustainability Report, Environment

103-1: Explanation of the material
topic and its Boundary

Sustainability Report, Environment103-2: The management approachand its components

Sustainability Report, Environment

103-3: Evaluation of
the management approach

Sustainability Report, Environment and Governance305-1: Direct (Scope 1) GHG emissions

Sustainability Report, ESG Metrics-at-a-Glance305-2: Energy indirect (Scope 2)
GHG emissions

Sustainability Report, ESG Metrics-at-a-Glance305-3: Other indirect (Scope 3)
GHG emissions

Sustainability Report, ESG Metrics-at-a-Glance305-4: GHG emissions intensity

Sustainability Report, ESG Metrics-at-a-Glance305-5: Reduction of GHG emissions

Sustainability Report, Environment

A CLEAR FOCUS ON
ANTICORRUPTION

400 SERIES (SOCIAL TOPICS)RESPECTING HUMAN RIGHTS

Material Topic: Diversity, Inclusion, and Belonging

SAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCE

103-1: Explanation of the material
topic and its Boundary
GRI 103: Management
Approach

GRI INDEX

2022
SUSTAINABILITYREPORT

103-2: The management approachand its components
103-3: Evaluation of
the management approach

SASB INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)SECTION/LINKMATERIAL TOPIC: ENERGY AND EMISSIONSSETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATADISCLOSURE

GRI 405: Diversity andEqual Opportunity

405-1: Diversity of governancebodies and employees

Sustainability Report, Creating a Culture of Diversity, Inclusion, and Belonging
Sustainability Report, Creating a Culture of Diversity, Inclusion, and Belonging
Sustainability Report, Governance
Sustainability Report, Creating a Culture of Diversity, Inclusion, and Belonging
Sustainability Report, ESG Metrics-at-a-Glance
Sustainability Report, Governance48

ESG Data

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEGRI STANDARD

03 Social

Material Topic: Social Impact
103-1: Explanation of the material
topic and its Boundary
GRI 103: Management
Approach

BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBY

103-2: The management approachand its components

Sustainability Report, Social

Material Topic: Cybersecurity and Data Privacy
103-1: Explanation of the material
topic and its Boundary

GENERATING SOCIAL IMPACT

103-2: The management approachand its components
103-3: Evaluation of
the management approach

Other Indicator/s

Security Reviews

RESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEX

Sustainability Report, Safeguarding Trust through Cybersecurity and Data Privacy
Sustainability Report, Safeguarding Trust through Cybersecurity and Data Privacy

GRI 103: Management
Approach

THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTION

Sustainability Report, Governance413-1: Operations with local community
engagement, impact assessments,
and development programs

ENABLING EMPLOYEEHEALTH AND SAFETY

BOARD OF DIRECTORSOVERSIGHT

Sustainability Report, Social

Sustainability Report, Social

APPROACH TO WELLBEINGEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT

Sustainability Report, Social

103-3: Evaluation of
the management approach
GRI 413: Local
Communities

04 Governance

SECTION/LINK

400 SERIES (SOCIAL TOPICS)

ENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITYDISCLOSURE

Business continuity is critical to minimizing financial and reputational harm. Dolby’s Enterprise Resiliency Team (ERT) comprises
representatives from every company group, enabling our business to operate without interruption. The ERT identifies and addresses
potential risks and evaluates the strength of our business continuity systems, infrastructure, policies, and procedures.
Sustainability Report, Safeguarding Trust through Cybersecurity and Data Privacy
Sustainability Report, Safeguarding Trust through Cybersecurity and Data Privacy
Global Privacy Policy

Material Topic: Employee Wellbeing

GRI 103: Management
Approach

GRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

Other Indicator/s

103-1: Explanation of the material
topic and its Boundary

Sustainability Report, Approach to Wellbeing

103-2: The management approachand its components

Sustainability Report, Approach to Wellbeing

103-3: Evaluation of
the management approach

Sustainability Report, Approach to Wellbeing

Motivation and commitment survey
favorability score

In our company-wide 2022 annual employee engagement survey, our Motivation and Commitment scores showed an 82% favorability,
indicating that our employees remain highly engaged and connected to our work and each other.

•
2022
SUSTAINABILITYREPORT

49

ESG Data

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAManaging Sustainability Risks
EU Non-Financial Reporting Directive (NFRD)

JOURNEY TO CARBON NEUTRALITY

03 Social
BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBYAPPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT
GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORTRISK DESCRIPTIONMANAGEMENT

Environmental Issues and Climate
According to the IPCC (Intergovernmental Panel on Climate
Change), human-induced climate change is alreadyaffecting many weather and climate extremes in every
region across the globe. Evidence of observed changes inextremes can be found in events such as heatwaves, heavy
precipitation, droughts, and tropical cyclones. These typesof extreme weather events can affect business operations
and disrupt supply chains.

Dolby is working to reduce its impact on the environment by measuring and mitigating its greenhouse gas emissions across our value chain. We
have a goal to become a certified CarbonNeutral® company by 2030, in accordance with the CarbonNeutral Protocol. In 2022, we completed
the process of developing our science-based targets, which involved a cross-company effort, and we are currently awaiting validation fromthe Science Based Target initiative (SBTi). In 2020, we committed to procuring 100% renewable energy by 2025 and we’re pleased to reportthat we achieved this in 2022, three years ahead of plan. Since 2020, Dolby procures high-quality carbon offsets to compensate for ourannual emissions from global business travel. With that, Dolby has attained certified CarbonNeutral® Business Travel, in accordance with the
CarbonNeutral Protocol. By 2030, we anticipate purchasing high-quality carbon offsets to compensate for any residual GHG emissions acrossour entire value chain, becoming a certified CarbonNeutral® Company, in accordance with the CarbonNeutral Protocol.

Environmental Issues and Sustainability
Environmental, Social, and Governance (ESG) topics havegarnered increased interest from investors, customers,
government regulators, and society at large. This has
yielded in an increased demand for ESG information andtransparency from companies.

Dolby publishes an annual Sustainability Report to communicate our ESG goals, efforts, and performance. Our reports are in accordance with
the GRI Standard: Core Option, and we also provide disclosures aligned with the Sustainability Accounting Standards Board (SASB) Softwareand IT Services standard. We have also conducted a materiality assessment to ensure we’re disclosing information in this report on topics thatare most material to our business.

Cybersecurity and Data Privacy
Protecting privacy and securing our data are importantto safeguarding the trust and confidence of our
stakeholders. We rely on information technology
systems in the conduct of our business, including
systems designed and managed by third parties and the
secure maintenance of this information is critical to ouroperations and business strategy.

Dolby works to maintain a strong cybersecurity and privacy foundation. We invest across people, policies, processes, training, and technology
to support data privacy, security, and resilience. Our efforts are managed, in part, by Dolby’s Security, Privacy, Audit, Risk, and Compliance(SPARC) Council, which is comprised of representatives from various business groups across the organization. Our internal security and privacy
practices enable the mitigation, detection, and response to security and privacy events. We conduct periodic training exercises, which involve
multiple internal teams as well as external partners and agencies, to continually improve the effectiveness of our response capabilities. The
online training covers data protection techniques, current hacker attack methods, and privacy training. For additional information, see our
Global Privacy Policy.
In 2022, we launched a new security learning management system, which provides education to employees on relevant cybersecurity topics,
as well as phishing simulation campaigns. Through our global Cybersecurity Awareness Month campaign, we educated and engaged
employees in the prevention of cybersecurity attacks at work and at home through weekly communications and virtual sessions. The interactive
sessions covered topics including multi-factor authentication, password protection, software and device updates, and phishing. Additionally, we
launched a new Data Loss Protection platform for mitigation of insider threat and Cloud Security Posture Management capability for monitoring
and governance of cloud infrastructure security.

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ESG Data

01 Introduction
CEO LETTERABOUT DOLBYABOUT THIS REPORT

02 Environment
SETTING TARGETS
IN LINE WITH SCIENCEENSURING QUALITY
EMISSIONS DATAJOURNEY TO CARBON NEUTRALITY

03 Social

RISK DESCRIPTIONMANAGEMENT

Talent, Diversity, Inclusion, and Belonging, andEmployee Wellbeing
Dolby employees are our greatest asset andare the key to our continued innovation. Attracting andretaining the best talent is crucial for the development andgrowth of our business. Risks associated with low retention
rates can include delays in meeting business objectives,
higher business costs, as well as negative reputation.

Through our Diversity, Inclusion, and Belonging (DIB) strategy we invest in diverse talent of the future through education and workforce
initiatives at the primary, secondary, university, and early-career levels, and help build a more diverse pipeline by recruiting throughorganizations representing women, Black, Latinx, and Indigenous technology professionals. To foster an environment where individual
perspectives are welcome and everyone feels a sense of inclusion and belonging, we equip our leaders, colleagues, and peers with tools
to have open and authentic conversations and offer opportunities to learn and grow through educational workshops, mentoring programs,
coaching, and employee-led Employee Networks.

BUILDING A CULTURE OF
DIVERSITY, INCLUSION, AND
BELONGING
CREATING THE FUTURE OF
WORK @DOLBY

Furthermore, Dolby has a robust learning and development program to support our employees’ personal and professional growth thatis customized by level, team, and role. We provide on-demand and personalized resources—from one-on-one coaching to professional
development sessions—that enable leaders to better guide their employees and teams through times of uncertainty and help facilitate their
growth and development.

APPROACH TO WELLBEING
ENABLING EMPLOYEEHEALTH AND SAFETYEMPOWERING EMPLOYEESTHROUGH LEARNING AND
DEVELOPMENT

In our 2022 annual employee engagement survey, the Motivation and Commitment scores showed an 82% favorability, indicating that
employees remain highly engaged and connected to our work and each other. More information can be found in the Social Section of ourSustainability Report.

GENERATING SOCIAL IMPACT

04 Governance
BOARD OF DIRECTORSOVERSIGHT
THE RIGHT COMPONENTS
FOR ETHICS AND COMPLIANCE
A CLEAR FOCUS ON
ANTICORRUPTIONRESPECTING HUMAN RIGHTSSAFEGUARDING TRUSTTHROUGH CYBERSECURITY
AND DATA PRIVACY

05 ESG Data
ESG METRICS-AT-A-GLANCESASB INDEXGRI INDEXMANAGING SUSTAINABILITYRISKS (EU NFRD)

2022
SUSTAINABILITYREPORT

The mission of our Wellbeing Program is to create a healthy, inclusive, and supportive environment where employees are empoweredand equipped to achieve their goals. This encompasses programs that support total wellbeing and address employees’ physical, mental,social, and financial wellbeing. Dolby has a network of global wellbeing representatives who have implemented over 80 programs andinitiatives to foster global connection and a sense of community. The team delivered a blueprint for programs that drive social connection ina flexible work environment, including a revamped New Hire Welcome program, in-person and virtual access to an on-site Fitness Center,and ongoing Dolby in-office and virtual events.

Business Ethics, Anticorruption, and Human Rights
Our reputation as an innovator and a trusted business
partner is one of our most important assets and critical to
our success. Our employees, customers, partners, investors,
and communities expect that we conduct business in theway we have always done it: fairly, honestly, and ethically.
Dolby’s reputation and how we do business are core to our
success. An absence of strong business ethics policies
and procedures can expose businesses to a higher
risk of reputational and brand damage, as well as supply
chain concerns and issues.

Dolby’s Code of Business Conduct and Ethics (Code of Conduct) is the cornerstone of our ethics and compliance program. The Code of
Conduct includes Dolby’s perspective on social and environmental initiatives as well as our approach to supplier and third party compliancein the areas of anticorruption, responsible sourcing, and human rights. Our employees are required to follow our Code of Conduct, and they
periodically complete training and education on key ethics and compliance topics.
Dolby supports the principles established under the United Nations Universal Declaration of Human Rights and prohibits the employment ofunderage children, forced labor, and human trafficking as well as any form of physical punishment or abuse. We expect suppliers throughout
our global supply chain to adhere to the same high standards. In June 2022, Dolby launched a Business Partner Code of Conduct that applies
clear requirements and expectations for all Dolby suppliers, vendors, and other business partners related to human rights, the environment,
responsible material sourcing, and responsible business practices. As of this date, the Code has been distributed to 100% of our new suppliers.
Moreover, as part of our broader commitment to ethical working practices and adherence to applicable anticorruption laws, including
the US Foreign Corrupt Practices Act and the UK Bribery Act, Dolby has a global anticorruption program, and it includes governancemechanisms to ensure that our Anticorruption Policy is followed by both our employees and business partners. To mitigate corruption andother risks associated with our business partners, we have developed a Partner Risk Assessment and Due Diligence (PRADD) program whichenables Dolby to identify or detect fraud, corruption, bribery, human rights violations, and other risks before we engage in business withthird parties and throughout their life cycles. We also mandate anticorruption training on a biannual basis for a subset of employees with
relevant job activities. In 2022, 98% of designated employees completed this training. More information can be found in the Governance
Section of our Sustainability Report.

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Dolby, Dolby Atmos, Dolby Vision, Dolby Cinema, Dolby.io, and the double-D symbol are among the registered and unregisteredtrademarks of Dolby Laboratories, Inc. in the United States and/or other countries. Other trademarks remain the property of their respective owners.
© 2023 Dolby and/or its affiliates. All rights reserved.
VERSION 2.0 September 2023