2022-2023 Environmental, Social,and Governance Report
Responsible Corporate Stewardshipfor a Connected World

About This Report
Connectivity is the core of our business.
As part of our commitment to ourpartners, customers, and the planet,
we have adopted Environmental, Social,and Governance (ESG) principles andpractices that guide how we do businesseach and every day. In 2022, we madesignificant progress on our ESG goals,
and are pleased to share that progress
through this report.
Our ESG commitments drive ourinnovation and continue to empower
our customers and partners to createconnectivity and connection with eachother—and the world.

Table of Contents
1 Panduit at a Glance2

 essage from Our Executive
M
Chairman and Our CEO

3 Environmental Stewardship10 Community Support
26 Diversity and Inclusion
35 Ethics and CompliancePanduit at a Glance
Since our founding, Panduit has been singularly focused on creating innovative infrastructure solutions
to connect us to each other and our world. We continue to deliver dependable, scalable network
connectivity and powerful and reliable electrical infrastructure aimed at helping our customers andpartners become better connected.

Core Values: Panduit is committed to our core values, which guide how we do business.

QUALITY

In All We Do

CUSTOMERS

Get Our BestINNOVATION

Everywhere, Every Day

OUR PEOPLE

Make The Difference

INTEGRITY

Corporate Profile
Privately Owned
112 Global Locations

AlwaysA World of Connections
State-of-the-Art Innovation Center
500+ Sales & Technical Employees

5,000+ Infrastructure Experts

10 Warehouse Sites

3,000+ Patents Globally

62 Offices

Billion+ US Revenue Exceeded Annually

9 Customer Briefing Centers

250+ R&D Personnel

9 Manufacturing Locations

90% Fortune 100 Companies Are Customers

18 R&D Laboratories

1Executive Chairman and CEO Message
Reflecting on the achievements of the past year,
2022 marked a period of expansion, innovation, andchallenge. It was a year defined by our unwaveringcommitment to innovation, acknowledging andcelebrating progress, and setting a course toward
continuous improvement. It was also a time torecognize the accomplishments of the diverse
individuals and teams around the globe who are theheart of Panduit.
Our Environmental, Social, and Governance (ESG)
efforts epitomize the very core of ESG principles—
capturing the value we bring to our customers,
partners, and the world. ESG revolves aroundsafeguarding our environment, enriching ourcommunities, and living our ethical businessprinciples—all for our collective benefit. Ourcommitment to ESG extends beyond words and is at
the core of our culture.
Sustainable practices are a business imperative for
Panduit. Our customers and partners expect theorganizations they do business with to be committed
to sustainability, and we are. Here at Panduit, we arecommitted to being a responsive and responsible
partner, seeking ways to eliminate waste and reduce
our environmental impact.
In this, our third annual ESG report, we’re proudof our continued progress, but we recognize thatsustainability is a journey, and we remain focused ontangible results. Ethical business principles continue
to guide our decision-making, and operating withintegrity is at the foundation of our cultural beliefs.
At the heart of our ESG initiatives are our people.
Every day, our people put into action the mission,
vision, and values that guide Panduit. We recognizethat building a diverse and inclusive culture is criticalto our continued success. We’re proud that we’recontinuing to increase the diversity of Panduit.
For example, women made up nearly 30% of the
Executive Leadership team and 46% of global hires
in 2022. And we are honored to celebrate two of ourown who were honored at the Women MAKE Awards
for their leadership and accomplishments this year.

2

Supporting the communities where we live, work, and play is a longstanding
tradition at Panduit—and one that our people proudly embrace. Charitablegiving and outreach are an important part of what we do, but our most valuable
contribution is the time that Panduit employees put into helping their neighbors
and their communities. In the past year, Panduit employees around the globe
supported a host of programs and initiatives, including a summer camp forchildren in Romania, cleaning trash from a beach in Japan, planting trees in
Costa Rica, and donating books for reading corners in China.
We remain focused on four key environmental stewardship goals: reducing ourcarbon footprint, supporting the circular economy, driving sustainable productinnovation, and reducing waste. We continue to seek new ways to achieve thesegoals and measure progress. To that end, we were reviewed by EcoVadis, acompany that provides organizations with an evidence-based review leading
to a sustainability rating. The review considers criteria across four themes—
environment, labor and human rights, ethics, and sustainable procurement—
to measure the quality of an organization’s policies, actions, and results.
We are pleased to have this vital benchmark to use that will enable us to track
our growth in sustainability over the next year and beyond.
In today’s global and interconnected landscape, the need for innovative
infrastructure solutions has never been greater. Our ESG objectives will continue
to drive our partners, customers, and employees’ success, while at the sametime contributing to making the world a better place.
We are proud to share and celebrate our 2022 accomplishments with you.
Sincerely,

Andrew Caveney
Panduit Executive Chairman

Shannon McDaniel
Panduit President andChief Executive Officer

Environmental Stewardship

Panduit is committed to environmental
sustainability. We embrace a “design forsustainability” approach that considers theenvironmental impact of our raw materials,
product and packaging designs, andmanufacturing processes, as well as the
positive impact our products can have inour customers’ production environments.
— Mark Dehmlow
Manager, Global Sustainability

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Environmental Stewardship:
Creating a Better Planet for Future Generations
Environmental sustainability is transforming our industry, and Panduit is committed
to being a good steward of the environment to benefit our customers, employees,
and the planet. We are proud that our world headquarters has been LEED Goldcertified since 2010. From our environmentally friendly products and packaging
designs to recycling efforts to more efficient manufacturing processes, we continue
to move forward on our sustainability journey.
We are happy to report that Panduit is now an EcoVadis-rated company. EcoVadis
is the world’s largest and most trusted provider of business sustainability ratings.
The sustainability assessment methodology is an evaluation of how well a company
has integrated the principles of sustainability and corporate social responsibility
into its business and management system across four themes: environment, laborand human rights, ethics, and sustainable procurement. We are pleased to have thisimportant benchmark to track our growth in sustainability over the years ahead.
Panduit has made considerable progress toward our environmental stewardshipgoals. In 2022, we achieved our target of greater than 90% diversion of waste fromlandfill by 2023, and we continue to increase the percentage of our packaging thatconsists of recycled and recyclable materials. An example of how we are supportingthe circular economy is the transition of copper patch cord packaging from a singleuse plastic bag to a coiled cord with a Forest Stewardship Council–certified paperlabel. This change eliminates the use of millions of plastic bags each year, which
equates to over 250,000 pounds of plastic annually.
We have also launched new products, including the Panduit Uninterruptible Power
Supply and FlexCore™ Optical Distribution Frame, to help reduce data center
energy consumption and increase energy efficiency in schools, hospitals, and hybrid
workspaces.
We continue to embed sustainability throughout the organization, raise our longterm sustainability goals, and operationalize our environmental stewardship strategy.
We recognize that sustainability is a journey and are committed to empowering
our employees to take bold action to move us forward. Our manufacturing facility
in Costa Rica continues to lead the way, once again honored by the Costa Rican
government and recertified as a carbon-neutral facility.
At its core, environmental stewardship is good business; limiting our environmental
impact leads to reduced costs, optimized operations, competitive differentiation,
improved customer experience, and enhanced employee engagement. Working
together, we are leveraging environmental sustainability best practices to optimize
our business and protect the environment.

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Environmental Stewardship Goals
Panduit is committed to achieving
environmental stewardship goals acrossfour key areas.

Carbon Footprint
Reduction:• Reduce the overall
organization’s carbon
footprint (Scope 1 & 2)
20% by 2025 and 50%
by 2030• Reduce energy intensity(kWH/Earned Hours) by
10% by 2025

Support the Circular
Economy:Drive Sustainable
Product Innovation:• Ensure 75% of
packaging contains
renewable/recycledmaterial by 2025

• Develop at least five
new product lines
for the sustainability
economy by 2025

• Achieve greater than
90% diversion of wastefrom landfill to recycling
by 2023• Eliminate 15%
single-use plastic
packaging by 2025

• Develop at least 15
new products for thesustainability economy
by 2025• Through company-wide
efforts, we not only
met our goal, but we
exceeded it!

ESG Progress 2018 – 2022
26%
(metric tons)

Reduction in Total Carbon Footprint U.S.

7% Increase in Recycled Industrial Materials Globally
11% Reduction Total Global Fossil Fuel Carbon Footprint Globally
14% Reduction in Total Waste to Landfill Globally
12% Reduction in Energy Intensity Globally
20% Increase in Recycled Industrial Materials U.S.

5

Eliminate
Waste:

Goal: Carbon Footprint Reduction
According to the World Economic Forum, global production sectors are responsible
for one-fifth of carbon emissions—consuming 54% of the world’s energy sources.
As a result, there is an ever more urgent need for manufacturing companies toaddress decarbonization.
Panduit has been out front on this critical issue, measuring our U.S. carbon footprint
since 2000; and, in 2019, we expanded those measurements to include all our
manufacturing, warehousing, and owned corporate facilities. Plus, we’re going
beyond measuring our impact; we’re innovating and creating new products,
technologies, and solutions to reduce our U.S. and global carbon footprint. Our goal
is to have a 50% reduction in carbon emissions by 2030.
Select highlights:
Moving to Emission Free Electricity (EFE) to reduce carbon emissions and realize a
35% reduction by the end of 2023
Recertified Environmental Product Declarations (EPDs) and Health Product Declarations(HPDs) for copper cable and connectors—a contributing component of LEED certification
Received a bronze sustainability rating by EcoVadis, the leader in assessing anorganization’s achievements across sustainability metrics
Reduced packaging materials and encouraged adoption of bulk packs across three
product lines providing a significant carbon reduction and diversion from landfill

Costa Rica Continues at the Forefront of Carbon Reduction
Our Costa Rica facility—one of our major manufacturing sites—
continues to be an industry leader in carbon reduction. The Costa Rica
Ministry of Energy and Environment recently recertified this facility as
carbon-neutral, a distinction held since 2017.
While Costa Rica has significant renewable energy infrastructure
available as well as broad governmental support for environmental
policies, it is the constant attention to this issue that garnered our Costa
Rica facility these prestigious awards
and certifications. For example, inrecognition of the Costa Rican facility’s
maintenance of its carbon-neutral
PANDUIT DE COSTA RICA LTDA .
status, the Ecology Blue Flag in the
climate change category was awarded.
Our Costa Rica facility continues toimprove its sustainability program andalign with Costa Rican efforts toward
nationwide carbon neutrality by 2050.
Carbono Neutral

Sr. Franz Tattenbach Capra
Ministro de Ambiente y Energía
San José, Costa Rica

Número de expediente: DCC-PP-017-2014
Fecha de emisión: 2022/08/06
Fecha de expiración: 2023/08/06
Registro de certificado: DCC-118R-2022

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Periodo verificado: 1 de enero de 2021 al 31 de diciembre de 2021.
Alcance: emisiones directas e indirectas de dióxido de carbono, metano, óxido nitroso, hidrofluorocarbono ehidroclorofluorocarbono para todas las actividades de ensamble de cables de interconexión, productos deidentificación y moldeo de piezas plásticas realizadas en sus instalaciones ubicadas en Grecia de Alajuela.
Se incluyen otras emisiones indirectas por consumo de gas LP de la soda administrada y operada por ASEPANDUIT .
Se excluyen emisiones directas cuya significancia en conjunto no supera el 3%.
Ubicación: Panduit CR ubicada en La Argentina de Grecia, Alajuela, 1.5 km de la intersección de la pista Bernardo
Soto hacia Grecia.

Goal: Support the Circular Economy
Panduit continues to innovate on reducing, reclaiming, and recycling. Our teams areconstantly considering where and how we can reduce, what we can reclaim, andhow we can recycle more than before. We expect our partners to exhibit the samelevel of commitment—looking for opportunities to work together, identify resources,
and improve how we’re reducing, reusing, and recycling. We recognize it will take allof us working together to improve our planet, and we are making progress every day.

Select highlights:
Decreased consumption of both plastic and wood by reducing the thickness of plastic
pallet wrap and creating reusable pallets for material storage

Upgraded to LED lights in facilities throughout the globe to improve energy efficiency

Introduced bulk package racks and cable managers to reduce corrugated packaging waste

Panduit China, Costa Rica, and Nuevo León, Mexico, Facilities
Receive Responsible Business Alliance VAP Certification
Illustrating our commitment to environmental and social responsibility,
we are pleased that three Panduit facilities in China, Costa Rica, andNuevo León, Mexico, received certification through the Responsible
Business Alliance Validated Assessment Program (VAP), documenting
their continued commitment to sustainable practices.
This program is the leading standard for onsite compliance verificationand effective and shareable assessments conducted by independent
third-party firms. The extensive evaluation recognizes a factory’scommitment to environmental and social responsibility throughverification of compliance efforts they have undertaken.

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Goal: Drive Sustainable Product Innovation
At Panduit, we innovate every day, bringing new and improved products toour customers that not only better meet their needs, but assist them on theirsustainability journeys. We listen to our customers so we can truly understand theirchallenges and determine what we can do to help solve those challenges—leading
to better outcomes for everyone and contributing to a more sustainable planet. We
increased our goal for 2025 from one product line to five and from 10 new products
for the sustainability economy to 15.
Select highlights:
Maintained ISO 14001:2015 certification for all Panduit manufacturing facilities

Developed an offering of UV-resistant corrugated loom tubing

Produced 28 AWG patch cords using 45% less materials than standard 24 AWG patch cords

Created the smallest Category 6A cable on the market, using 16% less raw material thanstandard size cable (Vari-MatriX HD cables)
Instituted a Packaging Council to identify emerging domestic and global packaging
trends, improve recycling of packaging materials, identify reusable packaging options,and limit the amount of packaging used as well as decrease the use of non-recyclable
materials in package designs

Smart. Sustainable.
Panduit offers a wide range of products used to build and connect smart buildings. A key
component of smart building technology is sustainability. Data analytics can track theenergy usage and expenses in individual buildings, resulting in better management of energy
consumption. Sensors can track occupancy in rooms and usage of equipment, turning off
appliances when they are not in use. Ethernet delivers power and data to devices throughsingle-pair low-voltage cable, reducing the number of dedicated power lines, receptacles,
and power adaptors in a building. Panduit is a leading provider of smart building solutions;
helping our customers improve efficiency and sustainability of their facilities.

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Goal: Eliminate Waste
Reducing the waste that ends up in landfills is a top priority at Panduit. We arecontinually exploring ways to reduce packaging and recycle and reuse raw materials.
We examine the consequences of every decision we make through an environmental
impact assessment, considering what effects the development of new products will
have so we can focus on being the most effective environmental stewards we can bewhile continuing to innovate and offer cutting-edge solutions for our customers.
Select highlights:
Eliminated and reduced single-use plastics in our packaging, resulting in less waste
across numerous product lines

Reduced corrugated packaging waste through bulk packaging

Diverted 85% of food waste to landfills through our China facility’s food waste recycling projectExceeding Our Waste Reduction Metric
At Panduit, our goal isn’t just to reduce our waste to landfill—but to eliminate it. We set an
ambitious goal—greater than 90% diversion of waste from landfill by 2023—and, throughcompany-wide efforts, we’re incredibly proud that we not only met that goal, but we
exceeded it! This was a tremendous accomplishment made possible only by the combined
efforts of our teams across the globe.
As an important next step on this part of our sustainability journey, Panduit is considering
what we can do to reduce our absolute waste generation. This is an exciting opportunity for
us to continue to innovate and push the boundaries of what is possible. We are considering
what we can do to improve our processes, our equipment, and our products to refine andreduce the waste we’re generating to do our part to improve the health of the environment
and the planet.
Things like manufacturing our wire basket using a minimum of 70% recycled steel; using
less material in small-diameter patch cords; eliminating chemicals, such as moving fromglycol to water to cool our machines; and reusing pallets are just the tip of the iceberg. We
are challenging ourselves to examine every product we develop and every process we use
to see where and how we can improve—lessening our impact on the planet and creating abetter future for the next generation.

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Community Support

It fills my heart with joy to be part of the
Panduit Philanthropy committee. I havebeen participating in this group for several
years and we grow stronger and help
more people every year. Personally, andprofessionally, I feel it’s important to giveback and help others in need. I am grateful
Panduit is dedicated to this effort and that
I get to be a part of it.
— Brandi Sabaj
Executive Assistant10

Making the World a Better Place—Together
Panduit does more than talk about being a good corporate citizen—
we live it every day. Giving back to the communities where we live,
work, and do business is our priority—through charitable giving,community outreach, and volunteerism. We recognize our role andresponsibility in making the world a better place and actively seek
opportunities for our employees and our organization to do just that.

Improving Our Communities Every Day
While raising funds is one key component of our philanthropic
efforts, our approach is much more comprehensive. We believe
in leveraging our collective power through volunteerism to improve
our communities each day. Our employees have the opportunity
to engage, educate, inspire, and, in helping others, to learn andgrow themselves.
Panduit employees give back to their communities regularly,
whether volunteering with their team, utilizing paid volunteer
time-off benefits, or on their own personal time. Since 2019,
Panduit employees have volunteered nearly 20,000 hours.
These efforts don’t just benefit the individuals and organizations
we support—our employees report increased satisfaction andgratitude for the experiences.

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APAC: Singapore

Skills Change Lives
Panduit is continuing its investment in helping youth increase theirskills and economic prospects through the “Skills Change Lives”
campaign. This vital partnership continues to promote economic
growth and social mobility in the region. We partner with theInstitute of Technical Education, a local vocational school, to provide
financial support while also improving students’ technical skills.
Panduit Singapore and ITE Singapore signed an MOU tocollaborate on several initiatives, including developing a state-ofthe-art lab at ITE College East, online learning resources, bookprizes, and internship opportunities at Panduit Singapore and ourpartner companies.
The Data Centre Lab is designed to support the Work Study
Diploma in Data Centre Infrastructure and Operation andCertificate of Competencies for the Data Centre Industry. The
lab will facilitate technology training, student staff project
development, and future industry collaboration.
Panduit Singapore also hosted a Learning Journey Day for 30
electrical engineering students from ITE Singapore, providingthem an opportunity to learn about industry-leading technology
as well as to network and expand their skills

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APAC: Japan
Garbage Collection
Four Panduit employees, together with 600
volunteers, collected 100 bags of trash from Katase
Higashihama Beach, Fujisawa City, Kanagawa Pref.

Two Panduit employees,
together with 50 volunteers,collected 15 bags of trashfrom Tokyo Skytree Town.

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APAC: Japan
Alien Fish Extermination
Panduit employee Shinichi Hiramatsu and his family
worked to remove alien fish from Lake Biwa to help
restore the lake’s natural environment.

14

APAC: China
Zhangjiatai Folk Culture Center
Panduit China donated all the books andmaterials for the center, a public welfare
cultural project.

15

APAC: China
Lubinhua Project
Lu Bing Flower House is a project under the WesternChildren’s Relief Fund under the China Children’s
Charity Relief Foundation, led by six office workers inShanghai, to provide short-term medical assistanceto orphans and abandoned disabled infants. Panduit
China funded the donation of milk powder, diapers, andother supplies to support their efforts.

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APAC: China

China Wuxi Reading Corners
Panduit China, together with the Lingshan Charity Foundation,
implemented the Lingshan Library Plan. Panduit donated four
“reading corners” to encourage students to read more books.
Panduit employees donated 62 books to the effort, including
in-person and virtual reading corners.

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EMEA
Your Superpower Summer CampThe Superpower Summer Camp was launchedin 2017 and organized in partnership with alocal NGO (Non-Governmental Organization). In
addition to supporting under-resourced families,
some Panduit employees’ children also attended
the four-day summer camp held near the cityof Arad. Patricia Sas, Panduit Senior Training
Specialist, volunteered at this camp utilizing
her paid volunteer time off, connecting, andsupporting the local community.
This year’s camp theme was helping children
identify their superpowers to increase selfconfidence and overcome their fears. During
the camp, the children engaged in educational
activities on a variety of topics, including selfawareness (helping children understand theiremotions); finance (how to plan a budget andsave); and recycling (making flower vases outof plastic medicine containers). In addition tolearning, they participated in fun activities suchas zip lining, hiking, climbing, and playing sports.
The camp wrapped up with a “Campers Got
Talent” contest where the children got to
exhibit and share their talents, and a campfire
conversation where they shared their favorite
memories of the experience.

ECW-Netherlands
René Beunk, Product Technician at
our Netherlands facility, volunteered
to organize a special day for children
whose parents don’t have the money tospend on fun activities with them.

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EMEA
Charity Camp for Children—Romania
Panduit Demand Planner for EMEA, Alexandra
Cotuna, participated in a creative mountain camp
for children. Sixty children attended and engaged in
activities like wood painting, glass, and ceramics. In
addition to creative activities, they hiked to Bucara
and shared an evening of talent together.

Support for Ukrainian Refugees
In Romania, eight employees from our Panduit
HR team participated with the NGOs supporting
Ukrainian refugees. The team helped with sorting
clothes and food that were then delivered to Ukraine.
This important team activity allowed our employees
to learn how a little help can make a big difference insomeone’s life.

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LATAM
Costa Rica
More than 40 employees volunteered for activities in support of the environment.
In addition to these critical activities aimed at beautifying and preserving the land, Panduit Costa Rica donated 2,000,000 colones
to the Paliaton Campaign, a local effort to support the Asociación de Cuidados Paliativos in Grecia (Palliative Care Association in
Grecia) which provides pain management care to residents.

Tree planting in San Luis, Grecia

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LATAM
Costa Rica
Cleaning up a local well-known
forest, “Reserva Forestal Bosquedel Niño”

Cleaning the entrance area toward Grecia

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Tree planting in San Luis, Grecia

LATAM
Monterrey
Panduit Monterrey employees partnered with Casa Hogar Alabastrode Amor, a home for the elderly in Monterrey, by spending time withthe residents: playing, talking, laughing, and enjoying food together.
The Panduit participants and the residents enjoyed the time theyshared, with everyone benefiting from the powerful social connections
they created that day.

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North America
Panduit North America partnered with Ronald McDonald House Charities(RMHC), helping families around the world gain access to the medical careand resources they need.
RMHC Global created an emergency fund in response to the needs
surrounding the humanitarian crisis in Ukraine. Gifts to the initiative aided
both local chapter efforts to support displaced, ill, and injured children
and their families and the charity as a whole. Panduit donated $25,000 insupport of children and families affected by the crisis.

Aluminum Pop Tab Collection
Over 120 pounds of aluminum pop tabs were collected at Panduit
Chicagoland facilities and donated to RMHC. RMHC partners with United
Scrap Metal, which recycles them for market rate, resulting in an additional
financial contribution to RMHC.

Charity Golf
Panduit was a Silver Sponsor of the RMHC Charity
Golf Classic at Cog Hill Golf Course in Lemont, IL,
donating $7,500 to benefit RMHC Chicagoland andNorthwest Indiana Chapters.

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North America
Giving Day
Panduit Giving Day at our World Headquarters was a
fun-filled and rewarding event. Fundraising activities
included a bean bag tournament, pop tab challenge,
gift basket raffle, and more. Panduit employees
enjoyed the day competing and raising funds for
RMHC. Fundraising efforts generated $11,086 tobenefit RMHC.

Over 100 Panduit employees also donated their time on Giving Day toassemble over 1,000 snack packs. Snack packs are a great grab-andgo option for families as they travel between appointments and don’t
have time for a meal or have to spend long days in the hospital. The
snack packs were donated to five Chicagoland RMHC houses.

24North America

Volunteering at RMHC
Three groups of Panduit employees eachvolunteered four hours of their time making
meals for the Meals from the Heart program at
RMHC. Making meals for families staying at a
Ronald McDonald House allows families to eat
a good meal without the stress or expense ofdining out.

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Diversity and Inclusion

At Panduit, our diversity is the cornerstoneof our success. It is through bringing
together people from different backgrounds
and experiences that we can innovateand solve some of our most challenging
problems. Our commitment to inclusion
allows our employees to be recognized andvalued for who they are—leading to greater
satisfaction and a more engaged andproductive workplace.
— Patti Liotta
Senior Vice President of Human Resources26

Diversity and Inclusion Drives Innovation,
Engagement, and Growth
Panduit is committed to building an inclusive culture—it is vital
to attracting and retaining exceptional talent. Bringing diverse
viewpoints to the table enables innovation and creativity to flourish
and allows unique solutions to the challenges we face to be
identified and implemented.
Cultivating a sense of belonging is key to creating the kind of
atmosphere that reflects our values. Not only valuing differing
approaches but actively soliciting them is what sets Panduit apart.
We recognize that diversity and inclusion (D&I) is a journey—and
we’re proud to continue progressing on that journey. Our CEO
continues to lead by example, prioritizing D&I efforts, remaining
committed to the CEO Action Pledge with over 2,000 other CEOs,and driving our D&I strategic plan.
Diversity and inclusion aren’t just words—they are concepts
embedded into the fabric of Panduit. We are actively infusing
D&I across our three key pillars—Workforce, Workplace, andMarketplace—to ensure that everything we do is viewed throughthat lens.
In embracing a philosophy and practice of diversity and inclusion,
Panduit hopes to better represent the communities and the worldin which we live.

The I ACT ON pledge
I pledge to check my bias, speak up for others, and show up for all.

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Diversity and Inclusion—A Strategic Imperative
In today’s global business world, diversity and inclusion have never been morecritical. Embracing diversity within the workforce enables companies to tap intoa rich talent pool with varied perspectives, experiences, and skills. This diversity
fosters creativity and innovation, allowing businesses to adapt to the complexities
of global markets and solve problems more effectively.
Inclusion allows employees from diverse backgrounds to feel valued andempowered—to contribute their unique insights to an organization’s success.
People who feel included are more engaged, productive, and committed, leading
to higher employee satisfaction and retention.
Diverse and inclusive businesses gain a competitive edge in the global marketplacebecause they’re better able to connect with various customer bases and create
products and services that meet their unique needs.
And companies that express a commitment to diversity are more likely to be seen
as progressive, ethical, and socially responsible, attracting more diverse talent.
Diversity and inclusion are more than moral imperatives. They are strategic
business imperatives that drive innovation, employee and customer satisfaction,and global success.

It’s easy to say we’re committed to diversity and inclusion—but our actions carry the day. At Panduit, we
do more than talk the talk. As an organization, we are invested in creating a diverse and inclusive culture
where people are welcomed and valued. We’ve shown time and again that this approach benefits our
employees, our customers, and Panduit as an organization. Diversity helps us see things differently andconsider options we may not have otherwise explored. And it sparks innovation, increases employee
engagement and retention, and spurs business growth.
I’m pleased to continue to lead our D&I Council as we implement our D&I Strategic Plan and invest in
creating the kind of company that people are proud to be a part of and want to be associated with.
I’m looking forward to charting our progress on this important journey.
			—
Shannon McDanielPresident and CEO

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Our D&I Priorities: Workforce, Workplace, Marketplace
In 2022, Panduit continued building its programs aligned with our
D&I vision and priorities, experiencing progress in the core pillars of
Workforce, Workplace, and Marketplace.
Workforce
Employee Resource Groups
Panduit U.S. ERGs co-sponsored an all-ERG networking event for
ERG members, Panduit leadership, and the Board of Directors.
The event gave everyone an opportunity to get to know one another,enjoy activities, and build lasting relationships.
Panduit expanded its Employee Resource Group presence in Latin
America again this year. We launched a chapter of the Panduit
Women’s Network (PWN) in Guadalajara—expanding on the great
work being accomplished by PWN in Monterrey, Mexico.

Women's Network

PWN in Mexico continued to educate and facilitate change throughconferences and panel discussions during the year.

The NEXT Generation of Talent (NEXT) provided interns andco-ops with employee buddies to facilitate learning, a support network,and connection.

Mosaic Voices of Panduit (MVP) brought educational culturalcelebrations to different facilities during the year to promote
understanding and awareness.

Empowering Women’s Success (EWS) launched A Day in theLife Series to educate members about various careers and alsoorchestrated a commemoration of International Women’s Day.

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Our D&I Priorities: Workforce, Workplace, Marketplace
Workforce
Career Development Experiences
Panduit is committed to creating opportunities for employees to learn, grow, and flourish.
We host plant tours; micro-learning events; networking events; virtual events led byexecutives, culture coaches, and others; and career and skill development programs.

The Manufacturing Institute, Women MAKE Awards Honor Two of Our Own
Panduit is proud of our own Cheryl Vlach, named an Honoree, and Sofia Reising,recognized as an Emerging Leader, at the Manufacturing Institute’s Women
MAKE Awards.
The awards are a cornerstone of the Manufacturing Institute’s Women MAKE
Initiative, the nation’s marquee program to close the gender gap in manufacturing
by fostering a 21st-century manufacturing workforce that empowers and inspires
women. The Women MAKE Awards honor exceptional women in manufacturing
through an annual awards gala and associated leadership training program.
Cheryl Vlach

Sofia Reising

The 100 women leaders and 30 rising female stars are selected by their peersfrom among more than 1,000 candidates for these prestigious honors each year.
The Women MAKE Award Honorees and Emerging Leaders have demonstrated
success within their companies, have proven to be leaders in the industry,mentored other women, and given back to their communities. Panduit is proud
to celebrate this honor and recognition, and we extend hearty congratulations to
Cheryl and Sofia on their awards.

CRN’s Women of the Channel Honors
Holly Garcia and Jessica Crichton
Panduit is proud to announce that Holly Garcia,
Vice President, Data Center, and Jessica Crichton,
Manager, Channel Marketing, have been named to
the CRN Women of the Channel List. Each year,
CRN recognizes women from vendor, distributor, andsolution provider organizations whose vision andexpertise are making their mark on the technology
industry, honoring them for their dedication andcommitment to furthering channel excellence.
This year’s Women of the Channel list was featured
in the June issue of CRN Magazine and is available
online at www.CRN.com/WOTC. Panduit extends
our congratulations to Holly and Jessica on thistremendous honor.

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Holly Garcia

Jessica Crichton

Our D&I Priorities: Workforce, Workplace, Marketplace
Workforce
Recruitment
Panduit has integrated D&I into our recruitment process and uses inclusive language
in our job postings. Within our interviewing training for hiring managers and interview
panels, we take the opportunity to reinforce unconscious bias awareness and theimportant role of diverse hiring panels.

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Our D&I Priorities: Workforce, Workplace, Marketplace
Workforce
ERG Networking Activities
Celebrating Holidays Around the World
Employees around the globe enjoy sharing their holidays
and traditions, fostering a deeper understanding andawareness of cultures with each other.

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Our D&I Priorities: Workforce, Workplace, Marketplace
Workforce
ERG Mentorship Program
The ERG Mentorship Program is helping employees learn new skills, grow their careers, andfacilitate employee enthusiasm and engagement. Even though participation is not a promiseof a new role, 55% of the mentees across two cohorts achieved job moves or promotions.

I have been able to expand my network andcreate meaningful relationships that will lastlong after the mentorship program ends.
— Chris Hilliard
Supervisor, Production

The Mentorship Program has helped me
reorient my professional development
direction.
— Jian Sun
Principal Development Engineer

Having a Mentor who recognizes myabilities and supports me has beentransformative.
— Cynthia Majdecki
Talent Management Specialist

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Our D&I Priorities: Workforce, Workplace, Marketplace
Workplace
D&I Education and Manager Training
Panduit prides itself on providing continuing education and training opportunities
for our managers and staff to stay abreast of current topics.
Panduit executives continue to participate in D&I education. At the same time,
managers in Latin America locations were involved in D&I education workshops.
Georgia and Monterrey, Mexico, provided managers “Acceptance of Others”
training, and discussion circles about D&I were held in the UK. Global education
will continue in the upcoming years.

D&I Council
Our D&I Council, led by President and CEO Shannon McDaniel, continues to focus
on implementing our D&I strategic plan and has achieved some of these strategies
and is continuing to make progress on other strategies:
30%

Women make up nearly 30% of the Panduit Executive Leadership Team40%

In 2022: 40% of global positions at Panduit were held by women46%

Global hires were women

42%

U.S. hires were people of color

88%

Women globally rated Panduit favorable in valuing diversity

89%

Women globally rated Panduit favorable relative to their manager genuinely
caring about their well-being

Workplace
Panduit is pleased to be named a “Best in Class Employer” by Gallagher
based on an analysis of data from Gallagher’s 2022 Benefits Strategy andBenchmarking Survey. Gallagher is a global leader in insurance, risk management,
and consulting services. This designation considers factors such as the focus
Panduit has on providing a wide breadth and depth of benefit offerings toenhance well-being, offering employees an annual feedback mechanism throughengagement surveys, proactive and ongoing communications strategies to
educate our employees of the availability of our comprehensive benefits andwellness offerings, and ongoing cost management strategies to ensure we andour employees are paying the most competitive rates possible.

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Our D&I Priorities: Workforce, Workplace, Marketplace
Marketplace
Communication
Panduit is focused on strengthening communications about our D&I efforts to themarket through the ESG report, internal and external D&I pages, social media, andparticipation in D&I associations. We held a Town Hall to inform employees of ourlatest initiatives and solicit their input so we can continue to be a workplace where
people want to be.

Suppliers
Panduit is dedicated to giving small businesses and women and minority-owned
organizations growth opportunities to provide us with quality products and services
that meet our high standards.

Employee Benefits Resource Team
Our Benefits Resource Team is a volunteer group comprising a cross-section ofdiverse employees. They advise Panduit on the types of benefits and enhancementsthat are most important to them, and that will serve their needs.

Wellness Resources
We care about employee wellness. In a post-COVID era, we reach out continually
to employees across the globe and provide access to benefits programs and healthand wellness support. These include Mindful Monday communications, wellness
resource information, and webinars and presentations with financial, physical,
mental, and emotional health experts.

My
Health35

My
Wellness

My
Work-LifeMy
Financial
Security

My
CareerEthics and Compliance

Our reputation for integrity is one of ourmost important assets, and our commitment
to conducting business ethically and withintegrity has never been stronger. The
Panduit Code of Ethics and BusinessConduct is much more than a set of rules
for employees. No matter our role or wherein the world we work, we can look to our
Code of Conduct for guidance in making
ethical business decisions.
— Chris Clancy
Panduit Vice President,
Legal & General Counsel

36Ethics and Compliance
Ethics and Our Core Values
The Panduit Core Values provide an important framework for how we conductbusiness and ourselves. Our Code of Ethics and Business Conduct provides theguideposts we operate within while living those core values. Panduit has always had
a reputation for lawful and ethical conduct, and we maintain that reputation throughthe commitment of our employees, who are proud to work for a company that is
uncompromising in its dedication to ethical principles and compliance with the law.
At Panduit, each of us is responsible for conducting business legally and ethically.
To speak up when we see something we know or suspect may violate the law or theCode. To hold ourselves and each other to the highest standard.

Creating a Positive Environment
Doing business honestly, ethically, and with integrity starts with the employees wehire, the environment we create, the diverse viewpoints we welcome and foster, andhow we treat each other.
It means creating an environment free from harassment or discrimination and built
on a foundation of respect, dignity, and fairness. It means creating an environment
dedicated to promoting and preserving the health and safety of our employees
and partners.

Leading by Example
Our managers are empowered to lead by example. They help employees meetthe high standards of ethics and compliance we’ve set by serving as a resource,
creating a safe environment where concerns can be raised without fear of retaliation,
and where a commitment to integrity guides every decision.

Our Partners, Customers, and Suppliers
The Code guides our interactions with customers, third parties, and each other nomatter where in the world we work and no matter our role.
Our commitment extends to those we choose to do business with. Panduit only
does business with partners who meet our standards regarding human rights, labor,
the environment, health, and safety.
At Panduit, we are always honest with and respectful of our customers. We arecommitted to meeting our customers’ needs by providing quality products andservices that meet or exceed specifications. We are committed to honesty and fairdealing with our suppliers and others so we can continue to be a trusted partner for
their business needs. We rigorously protect proprietary and confidential information.

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Ethics and Compliance
Anti-Corruption and Third-Party Management
At Panduit, we have zero tolerance for bribery or corruption, as reflected in our
Anti-Corruption Policy. We conduct extensive due diligence on all business partners,
which demonstrates the importance we place on third-party management.
Our business partners and suppliers are required to comply with our Business
Partner and Supplier Codes of Ethics.

Data Privacy and Security
Panduit has a dedicated cybersecurity team to guide our data security efforts.
We seek to maintain best practices in data protection through our Information
Security Program, and our Information Security Incident Response Plan provides theframework for addressing cyberattacks and breaches. Our employees learn how todeal with cybersecurity risks through regular and ongoing training. And we maintaincompliance with global data privacy laws.

Integrity Line—Panduit Ethics and Compliance Helpline
If an employee, customer, distributor, supplier, or other business partner sees
something they believe may be a violation of the law or the Panduit Code of
Conduct, they can file a report online or by telephone via the Integrity Line—the
Panduit Ethics and Compliance Helpline. You may choose to remain anonymous ordisclose your identity. There are many other ways for employees to report concernsof unethical behavior, including reporting to their manager or HR representative or byemailing the Compliance Department at compliance@panduit.com. All matters aretaken seriously and investigated. Panduit will not tolerate retaliation against anyone
who reports a problem in good faith or participates in an investigation. The Integrity
Line is available to all at www.panduit.ethicspoint.com.

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Creating a Bright Future for
Our Customers and Partners
As we account for another year of progress in our key areas of responsibility—
environmental sustainability, diversity and inclusion, community support,
and ethics and compliance—we look to a future that promises more innovative
products and continued customer focus. As we build that future now,
we maintain our uncompromising commitment to our values which informour decisions and our deeds.

Infrastructure for a Connected WorldOur most important connection is with you. We have the knowledge and experience
to help you make the most of your infrastructure investment. Let’s connect.

©2023 Panduit Corp. ALL RIGHTS RESERVED. CPCB304-SA-ENG 11/2023