Healthy
Lives
Mission2023 ReportTable ofcontents

Introduction

03

Message from our CEO

03

Climate change

21-23

Our Purpose

04

Plastics

24-25

Our Values

04

Biodiversity, land & forest

26-28

About Kenvue

05

Waste

29-30

About this report

06

ESG & sustainability governance06

Enrich a healthy planet

Maintain healthy practice
Healthy Lives Mission

07

Operationalizing the Kenvue ESG strategy

08

Determining ESG Double Materiality

08-09

Sustainable product innovation

Product transparency

20

31
32-33

34

Product quality & safety

35-37

Human rights

38-41

Ethics & compliance

41-42

Nurture healthy people

10

Diversity, equity & inclusion

11-15

Public health

16-17

Document footnotes

43

Workforce health, safety & well-being

18-19

Safe harbor statement

44

Alignment with UN SDGs

45

Appendix

43

Data tables

46-52

Reporting indices

53-59

2

Introduction

Messagefrom our CEO,Thibaut Mongon

Nurture healthy people

Maintain healthy practice

We believe that nurturing healthy people begins with our teams and the

We promote our culture of integrity, ethics, and transparency to build

actions we take every day to foster an inclusive, equitable, and diverse

trust and create meaningful, long-term value. Our Values guide how weworkplace culture. Bringing together different points of view helps us totreat our people, innovate, conduct business, and design products. Our

better understand the needs of our consumers and leads to better ideas,

Code of Conduct inspires us to adhere to the highest ethical standards

On behalf of the Kenvue Leadership

solutions, and, ultimately, outcomes. Our brands are also committed

in everything we do.

Team and the approximately 22,000

to innovation that reflects the diversity of our consumers and their

Kenvuers around the world, I am proudneeds – some examples include Neutrogena® Purescreen+™ Mineral

to share our inaugural Healthy LivesUV Tint Face Liquid Sunscreen and Johnson’s® Blackinho Poderoso

Mission Report.

for children’s curly hair, both created to address the specific needs

At Kenvue, we realize the extraordinary
power of everyday care. We recognizethat human health is inseparably
linked to environmental health andour commitment to everyday careextends to the planet we call home.
As we established Kenvue as anindependent company, we also established our Healthy Lives Mission—
our Environmental, Social and Governance strategy. Every day, we
deploy our science, operations, team members and beloved brands toadvance our Healthy Lives Mission focused on nurturing healthy people,
enriching a healthy planet and maintaining healthy practice.
In this inaugural Healthy Lives Mission Report, we outline ourmanagement of our Company’s most significant impacts, risks,and opportunities within our three pillars; communicate our goals
and commitments to hold ourselves accountable for demonstrating
progress; and share how we put everyday care into action in 2023 toadvance the well-being of both people and our planet.

of diverse consumers. Kenvue Cares, our social impact platform, iscommitted to creating meaningful, long-term value for our communities
through volunteerism, humanitarian aid, and brand purpose programs.

Enrich a healthy planet
Aligned with our understanding of the interconnectedness of human

We are proud of our progress and focused on advancing our Healthy
Lives Mission. Already in 2024, our approximately 22,000 Kenvuers arechanneling the momentum built last year and using their talent,passion, and resources to continue building lasting positive change forpeople, communities, and the planet we call home.
Many thanks to our team members, investors, consumers, customers, andsuppliers for your support and commitment to our shared aspirations.
We Are Kenvue.

and environmental health, we are committed to enriching a healthyplanet by advancing sustainability across our operations – fromproduct and packaging design to material sourcing, manufacturing, andtransportation. We have committed to setting greenhouse gas (GHG)
emission reduction targets in line with the Science Based Targets

Thibaut Mongon

initiative (SBTi) Net-Zero Standard and are taking action to decarbonize

Chief Executive Officer

our operations and value chain.
We are also making progress on reducing our use of virgin plastic in
product packaging by designing for the circular economy with newrefillable formats, including Neutrogena® Hydro Boost refill pods, andpackaging that is recycling ready, such as Aveeno® bottles made with50% recycled plastic and pumps that can be recycled in many markets.

3

Introduction

Our Purpose

Realize the extraordinary
power of everyday care

Our Values

We put people first

We care fiercely

We stand for what’s right, even when it’shard. Our work impacts consumers andcolleagues, communities, and generations,in daily rituals and in the moments thatmatter most.

We’re driven to win for those we serve; andwhen we care fiercely for them and one
another, we can deliver the best possible care.

This incredible responsibility means every
decision and action we take is guided byintegrity and quality. Because when weput people first, performance will follow.

Together, we create an inclusive place where
we can bring our whole selves. Our committed
collaboration fuels our relentless external
competitive drive—because the stronger
our bonds are, the stronger our brands andCompany are, too.

We earn trust with science

We solve with courage

From best practices to best-in-class products,
we learn, test, partner, and optimize. Then
we move fast to bring real solutions into
communities, homes and hands.

We see and solve for unheard needs.
With empathy, we unearth extraordinary
breakthroughs in everyday care, and withcourage and conviction, we bring them to life.

With leading science and knowledge, we
educate and empower—so that when people
need us, they can rely on our brands. We’ve
earned their trust for more than a century,
and we work diligently to earn it every day.

We boldly pursue more innovative ways ofworking, pioneer solutions that improve lives,and create products that create categories—
then improve them again and again.

4

Introduction

About Kenvue
With $15.4 billion in net sales in fiscal year 2023, which covered the periodof January 2 through December 31, Kenvue is the world’s largest pure-playconsumer health company by revenue and holds a unique position at theintersection of healthcare and consumer goods. By combining the power ofscience with meaningful human insights and a digital-first capabilities, weempower consumers to live healthier lives every day.
Formerly operating as the Consumer Health segment of Johnson &Johnson, on May 4, 2023, we began trading on the New York Stock
Exchange under the ticker symbol “KVUE” in connection with our initialpublic offering (IPO). Our name Kenvue (pronounced ken·view) is inspiredby two powerful ideas: “ken,” meaning “knowledge,” an English word
primarily used in Scotland, and “vue,” referencing insight. On August 23,
2023, we completed our separation from Johnson & Johnson, marking our
first day as a fully independent, publicly traded company.
We seek to deliver sustainable profitable growth through deliveringscience-backed innovative products, solutions and experiences centeredaround consumer health. With a presence in more than 165 countries
worldwide and an over 135-year legacy, we are a global leader at theintersection of healthcare and consumer goods.
We operate our business through three reportable business segments:
1) Self Care, 2) Skin Health & Beauty, and 3) Essential Health. Our
differentiated portfolio comprises a range of products that include
iconic brands and widely recognized household names such as Tylenol®,
Neutrogena®, Listerine®, Johnson’s®, BAND-AID® Brand Adhesive
Bandages, Aveeno®, Zyrtec®, and Nicorette®. This broad portfolio allows
us to provide holistic consumer health solutions to our consumers acrossa spectrum of product categories and hold leading positions acrossnumerous large and attractive categories globally. These comprehensive
solutions are backed by science and several of our brands have a long
history of recommendations by healthcare professionals, which further
reinforces our consumers’ confidence in our brands.
Our brand portfolio has global scale across four regions—1) North America(NA), 2) Asia Pacific (APAC), 3) Europe, Middle East, and Africa (EMEA),
and 4) Latin America (LATAM)—and is well balanced geographically withapproximately half of our net sales generated outside North America in 2023.

Document footnotes

Our company: year at a glance

Our workforce

Our business

135+
Year history$15.4B >165
1

Net sales$4.6B

Essential HealthCountries where
we have a presence

$6.5B

~1.2B
Consumers~22,000
Employees2

Women

53%

Of managers and above3 are womenSales by region1

36%

Self Care49%

Net salesby segment1

50%

NA

Of our U.S. managers and above3
are ethnically diverse4

22%

EMEA

27

20%
9%

Owned and operated
manufacturing sites5

APAC

85%

LATAM

$4.4B

Employee inclusionindex score6

Skin Health & Beauty

15 Priority brands
Self Care

Skin Health & Beauty

Essential Health

Our environmental & social performance$31.7 MMIn humanitarian aid7

26%

Reduction in scope 1+2 GHG
emissions8,9,10 versus baseline (2020)

21%

Reduction in virgin plastic11
versus baseline year (2020)94%

Of our paper and wood fiber
certified12 or verified recycled1365%

Of our electricity is fromrenewable sources8,14,15

5

Introduction

About this report

our Amended and Restated Certificate of Incorporation, Amended andOur full Board is ultimately responsible for oversight of our ESG

Restated Bylaws, and Committee charters, provide a holistic framework

impacts, risks, and opportunities and ensuring our ESG priorities andThis 2023 Healthy Lives Mission Report outlines our ESG strategy,

for the Board’s oversight and corporate governance practices.

commitments are integrated into our long-term strategy. On an annual

goals, and commitments and details our progress in 2023 related to key

The Board oversees management and provides advice, counsel andbasis, the full Board receives an in-depth update on our Company’s ESG

ESG and sustainability topics. The data in this report, unless otherwise

oversight on the development and execution of our corporate strategies.

strategy, which we call our Healthy Lives Mission (HLM). After eachindicated, relates to the calendar year ending December 31, 2023, and

Our Board is composed of global leaders from various fields andregularly scheduled Committee meeting, the Committees report to theincludes information on Kenvue-owned and/or -operated

industries, with a diverse range of experience, skills, and perspectives

full Board with updates on their areas of designated ESG oversight

manufacturing facilities, research and development centers, andthat provide the collective expertise, diversity, and independence

responsibilities, which are further outlined under “Board Committee

administrative sites globally, and the products and brands we market.

necessary for sound governance.

Oversight of ESG & Sustainability Matters.”

The Board has 11 members, seven of whom are independent under the

Additionally, we have established a cross-functional ESG Steeringrules of the New York Stock Exchange, including an independent chair ofCommittee (ESG Steer Co.), which is composed of functional subject

the board. The Board has three key committees: the Audit Committee,

matter experts and leaders across our organization that meet regularly

Compensation & Human Capital Committee, and Nominating,to help us effectively execute our ESG priorities. The ESG Steer Co.

Governance & Sustainability Committee. Written charters for thesetracks our key initiatives and reports our progress quarterly to theCommittees, together with corporate governance and organizational

Kenvue Leadership Team. Twice per year, we share our progress with the

documents, are available on kenvue.com.

Nominating, Governance, & Sustainability Committee. Read more about

Throughout the report, we guide readers to additional sources of
information on our corporate website and others. Website references
are provided for convenience only. The content on the referenced
websites is not incorporated into this report, nor does it constitute apart of this report, and we assume no liability for any third-party
content contained on the referenced websites. Our reporting is guided
by key voluntary sustainability reporting frameworks including the
Global Reporting Initiative (GRI) Sustainability Reporting Standards,

the ESG Steer Co. in “Operationalizing the Kenvue ESG strategy” below.

the Sustainability Accounting Standards Board (SASB) Household andPersonal Products Standard, and the Task Force on Climate-Related
Financial Disclosures (TCFD) recommendations. Independent thirdparty limited assurance was conducted by Environmental Resources
Management (ERM) Certification Verification Services (CVS) for
certain data included in this report and can be found on kenvue.com.
This report should be read in conjunction with our most recent Annual

Kenvue Board of Directors· Oversees our ESG impacts, risks, and opportunities and ensures our ESG priorities and commitments are integrated into our Company’s long-term strategy· Annually receives in-depth update on the Company’s HLM· Receives a report from each Committee with updates on such Committee’s areas of designed ESG oversight responsibilities, as outlined below, after each regularlyscheduled Committee meeting

Board Committee Oversight of ESG & Sustainability Matters

Report on Form 10-K, our subsequent Quarterly Reports on Form 10-Q,
and other filings made with the SEC.

ESG & sustainability
governance
Board of Directors Oversight of ESG
Our Board of Directors (Board) is deeply committed to strong corporate
governance and robust independent oversight, which it believes are
essential to driving sustained shareholder value. To that end, our Board
has adopted our Principles of Corporate Governance that, together with

Audit Committee· Oversees financial management, accounting,and reporting processes and practices, including
with respect to ESG-related disclosures in our
Company’s periodic filings with the SEC· Oversees the quality and adequacy of internal
accounting controls and procedures· Discusses with management the processes used
to assess and manage exposure to financial risk
and monitoring risks related to tax and treasury

Compensation & Human Capital Committee· Reviews key talent metrics for our overall
workforce, including metrics related to Diversity,
Equity, and Inclusion (DEI)· Oversees compensation of non-employee directors
and executive officers· Oversees the design and management of various
pension, long-term incentive, savings, health, andbenefit plans that cover Kenvuers

Nominating, Governance &Sustainability Committee· Reviews the implementation and effectivenessof policies and programs in the area ofsustainability, including environmental strategy· Reviews the progress of sustainability goals andobjectives, trends in enforcement and industry
practices, and discusses any significant reports
or public statements relating to sustainability or
ESG matters, including this report· Oversees compliance with applicable laws,
regulations, and Kenvue policies and risk
management programs related to productsafety, product quality, environmental
regulations, privacy, and cybersecurity

6

Healthy Lives Mission

Healthy Lives Mission:
everyday care in action

Healthy planet goals& commitments
Climate change

At Kenvue, our impact is made through moments of care—the daily· Kenvue commits to reduce absolute scope
1 and 2 GHG emissions8,9,10 42% by 203017
from a 2020 base year

care we offer consumers through our portfolio of iconic brands andthe actions we take to protect our environment. In October 2023, we· Kenvue commits that 75% of its suppliersby emissions covering purchased goods andservices and upstream transportation anddistribution will have science-based targets
by 202817

launched an update of our HLM which includes public ESG goals
and commitments intended to position our brands as healthy choices
for both people and the planet and to better manage ESG-related
impacts, risks, and opportunities. Our HLM is our call for everyday care

· Set long-term net zero emission targets,
informed by the SBTi Net Zero Standard18

in action and is supported by three pillars: nurture Healthy People,
enrich a Healthy Planet, and maintain Healthy Practice. Within thesethree pillars, we are focused on nine priority areas for which we haveestablished goals and commitments to hold ourselves accountable anddemonstrate progress.

Healthy people goals& commitments

Plastics
Diversity, equity & inclusion

Through everyday care in action—amplified by ~22,000 caring Kenvuers
and backed by the resources of a global company—we aim to build lasting
positive change for people, communities, and the planet we call home.

Our Healthy Lives Mission Priorities· Strengthen the representation of women at
all management levels3 to reflect the markets
in which we operate

Enrich ahealthy planet

Maintainhealthy practice· Diversity, equity& inclusion· Climate change· Sustainable productinnovation· Workforce health,safety & well-being· Biodiversity,
land & forest

Document footnotes· 25% reduction of virgin plastic11 in packaging21
by 202517 from a 2020 base year
· 50% reduction of virgin plastic11 in packaging21
by 203017 from a 2020 base year

· Pay all Kenvuers equitably based onrole, experience, market competitivenessand performance

Biodiversity, land & forest

16

Nurturehealthy people· Public health· 100% recyclable19 or refillable20 packaging21
by 202517· Strengthen ethnic representation4 within
our U.S. workforce at all management levels3
to reflect the markets in which we operate· Achieve a company-wide Inclusion Index
Score6 in the top quartile· Plastics· 100% renewable electricity14 for ouroperations8 by 203015,17· Product transparency· Human rights

Public health

Sustainable product innovation
75% of new product development,26 using
scientific principles,27 will have an improved
environmental performance28 by 203017
Product transparency
Provide greater product transparency,
beginning with our ingredients· Kenvue is committed to zero deforestationand to ensuring the paper-based packaging
we purchase directly originates from lowrisk sources.22 Specifically, we aim to achieve
100% certified12 or verified recycled13 paper
and wood fiber packaging23 by 202517· Help restore the dignity of everyday care forvulnerable and displaced people around the world· Maintain 100% Roundtable on Sustainable
Palm Oil (RSPO) certification for thepalm-based ingredients we purchase24
through a combination of RSPO certified
physical supply chains and RSPO Book &Claim credits25· Create positive environmental and social
impacts through brand purpose programs led
by Kenvue’s top brands· Purchase24 at least 75% of our volumes
from RSPO physical supply chains25 by 202517
and 100% by 203017· Advance community health and well-being
through a culture of caring and encouraging
employee volunteer service

Healthy practice goals& commitments

7

Healthy Lives Mission

Operationalizing the
Kenvue ESG strategy
To develop our ESG strategy and to ensure its successful

Functional subject matter experts further support project execution
by partnering with the Global ESG & Sustainability team to share
best practices across brands and sites, collecting data, and reporting
agreed-upon metrics.

operationalization, the ESG Steer Co., led by the Global Head of ESG &Aligned with best practices in executional excellence, the ESG Steer

Sustainability, was established in April 2023 in anticipation of our IPO.

Co. established strategic alignment with the Board and the Kenvue

The committee convened monthly in 2023 to develop the ESG strategy,

Leadership Team (KLT) on our Company’s ESG priorities, ensured rolegoals, and commitments. Beginning in 2024, the cross-functional groupclarity and accountability, and developed performance management

meets quarterly to support the operationalization of the HLM program.

systems that support our commitment to continuous improvement.

The ESG Steering Committee:· Identifies and manages inter-dependencies across workstreams.
· Ensures resources are allocated and committed to advance projects.

To ensure broad organizational alignment, our HLM commitments areembedded in our Company’s objectives and key results (OKRs).

· Enables rapid and effective escalation.

Determining ESG
double materiality· Supports workstream leads and keeps current on projects

As a newly established independent company, Kenvue has the unique· Contributes to project deliverables by providing guidance

and information.

and initiatives.

· Serves as subject matter experts for annual HLM Report content review.
· Advocates for and implements changes necessary to achieve HLM

goals and commitments.

opportunity to begin our reporting journey aligned with evolving
stakeholder expectations. Kenvue finalized an enterprise-wide
double materiality assessment (DMA), aligned with the Corporate
Sustainability Reporting Directive (CSRD) and the draft European

Working groups assigned to each of our Healthy People, Healthy Planet,

Sustainability Reporting Standards (ESRS), in 2023. The assessment

and Healthy Practice pillars are driven by a pillar lead and project manager.

leveraged input parameters including internal and external stakeholder

Pillar leads strive to operationalize our strategy by:· Developing detailed roadmaps for each material topic, tracking

resource investment, and ensuring availability and accuracy of data.

· Reviewing topic performance scorecards and managing

inter-dependencies across workstreams.

· Prioritizing projects to ensure that proper resources are allocated toachieve goals.

· Identifying roadblocks, technology, data, or capability gaps that need

to be addressed to advance progress.

· Developing and sharing best practice approaches across brands,

engagement, as well as primary and secondary research anddocumentation, to identify ESG impacts, risks, and opportunities(IROs) associated with key sustainability topics. Kenvue HLM Reports
will align with CSRD beginning in 2025.
The DMA deemed nine topics to be material from an impact materiality
perspective, and an overlapping four topics from a financial risk/
opportunity materiality perspective. These topics informed our ESG
reporting, strategy and risk assessment. To read more about the
Kenvue double materiality assessment, visit kenvue.com.

regions, and sites.

8

Healthy Lives Mission

In this report, our use of the terms “material,” “materiality,” and otherDouble materiality assessment process overview
Kenvue followed the methodology outlined below to complete a double materiality assessment in alignment with CSRD.
01 Discovery

Inputs· Internal &external written
source review· Peer benchmark

02 Stakeholder
Input & Source
Evaluation

03 Topic List
Finalization· Internal &external
interviews· Value chain
impact mapping
workshop· Internal &external surveys· Written
source review· Initial listof ESG topics· Stakeholder
input from
Phase 204 Impact
Materiality
Assessment

05 Financial
Materiality
Assessment

06 Prioritization& Validation· Evidenceof impacts
from Phase 2· Impactmateriality
assessment
methodology· IRO workshops· Evidence of risks& opportunities
from Phase 2· Enterprise Risk
Management
Financialmateriality
assessment
methodology· IRO workshops· Materiality
thresholds· Full scored
IRO register

similar terms is consistent with that of GRI, SASB, TCFD, and otherstandards referenced in this report, or refers to topics that reflect our
07 Assurance
Documentation

significant ESG impacts or that substantially influence the assessments
and decisions of a diverse set of stakeholders. We are not using theseterms as they are used under the securities or other laws of the United· Inputs, outputs,
objectives,
processes, andassumptions
for Phases 1-6

States or as these terms are used in the context of financial statements
and financial reporting.

Kenvue’smaterial topics

Material from afinancial perspective

Material from an
impact perspective

Biodiversity,
land & forests
Objective

Outputs

UnderstandKenvue’s current
state andexternal context tobuild an initial list of
potentially material
topics relevant to
Kenvue’s businessand sustainability
context.

Initial list of
ESG topics

Gather insightsfrom internal
and affected
external
stakeholders togather evidence ofactual and potential
IROs across thevalue chain.

Refine and finalize
the list of ESG
topics basedon stakeholder
feedback from
Phase 2.

Identify, assess,and quantify
Kenvue’s actualor potential,
positive or
negative impacts
on people andthe environment.

Identify, assess,and quantify
sustainabilityrelated risks andopportunities thathave or may havefinancial effects
on Kenvue.

Prioritize topics and
IROs to determine
which are mostmaterial from botha financial andimpact materiality
perspective.​
Validate resultswith Kenvue leaders.

Develop
documentation
to describe the
DMA process
for assurance
purposes.

Climate change
Diversity, equity& inclusion
Human &
labor rights
Plastics

Evidence of IROs

Final list of
ESG topics

Scored registerof impacts

Scored registerof risks &opportunities

Prioritized andvalidated IROs
material from botha financial andimpact materiality
perspective

Process
documentation

Producttransparency
Public health
Sustainable productinnovation
Workforce health,safety & well-being

9

Nurture
healthypeopleWe aim to advance the well-being of thecommunities in which we operate andequip them with innovative products andactionable information to make healthierdecisions every day.
Our work is to put the power of everyday care into the hands of consumers
around the world. We do this by raising the standard of personal care and tacklingpreventable diseases through our products and resources, and empowering people withthe tools to make healthier choices for themselves, their loved ones, and the planet.
We start with our team and take action every day to foster an inclusive, equitable,
and diverse workplace culture and create a sense of belonging for all. Nurturing
healthy people goes beyond our products and the moments of everyday care.
Throughout the world, our teams use their talent, passion, and resources to create
meaningful impact in their communities through volunteer service and humanitarian
aid to help restore the dignity of everyday care.

10

Nurture healthy people

Diversity, equity & inclusion

A workforce that reflects our world

Kenvue is a global company operating in more than 165 countries

workforce is representative of the markets in which we operate, with

with ~22,000 diverse and dedicated team members who contributea focus on strengthening the representation of women globally andDiversity, equity & inclusion

to Our Purpose every day. We believe that our commitment to DEI

diverse ethnicities in the United States at all management levels. We

drives collaboration and strengthens our ability to compete effectively.

believe in the tremendous business and societal value of promoting a· Strengthen the representation of women at all management levels3 to reflect
the markets in which we operate

Recognizing the importance of innovation in our industry to meet theevolving needs of our consumers, we remain focused on having the rightcapabilities and a workforce that is reflective of the customers andconsumers we serve.

We champion diversity and take meaningful actions so that ourrichly diverse workforce, and our talent practices seek to provide equal
opportunities for development and growth.

Healthy people goals & commitments· Strengthen ethnic representation4 within our U.S. workforce at all managementlevels3 to reflect the markets in which we operate· Pay all Kenvuers16 equitably based on role, experience, market competitiveness,and performance· Achieve a company-wide Inclusion Index Score6 in the top quartile

As of December 31, 2023, our global workforce was approximately 50%
male and 50% female, and 36% of our U.S. employees identified as
racial or ethnic minorities. The Kenvue Leadership Team is globally

Talent recruitment and retention

diverse, currently represented by nine different nationalities, and 54%

Our Global Talent Access team applies the best inclusive hiringof the Kenvue Leadership Team are women.

practices to ensure both diversity of slates and diversity of interview
panels. In 2023, we empowered the Talent Access Team with both tools
and resources to help us identify, attract, hire, and onboard the mostHighlights on progress

qualified talent pool that also reflects the markets in which we operate.

Goals & commitments

This year, our DEI team will partner with the Talent Access Team to build

TotalManagerlevel

Directorlevel

Vice President
level and above

Global workforce
representationof women

50%

54%

50%

46%

U.S. workforce
representation of
racial or ethnic
minorities4

36%

a diverse talent pool for current and future openings at entry to midlevel manager roles and business-critical senior leader roles.
In 2023, we launched a referral campaign within Kenvue to attract,
identify, assess, and hire top talent. We provided new Kenvuers with a

36%

36%

34%

differentiated and inclusive onboarding experience and an overview ofthe employee resource groups we call the Kenvuer Impact Network.
We offer compensation and benefit programs designed to reward and

We believe that bringing diverse backgrounds and perspectives
together helps us drive innovation and deliver solutions that exceed
consumer expectations and create long-term value. Our Code of
Conduct specifically articulates our responsibility to create an inclusive
environment and to respect the dignity and diversity of all people.
Our DEI approach is based on three strategic pillars: Workforce,
Workplace, and Marketplace. These pillars are designed to accelerate
how we provide health and well-being solutions to Kenvuers, customers,
and consumers in the markets in which we operate.

Document footnotes

recognize superior performance and support our growth and talentstrategies. These programs are aligned with company and individual
performance to attract, develop, and retain top talent in a highly
competitive environment.
We also offer competitive employee benefits packages to meet theneeds of our diverse and global workforce, which vary by country andtypically include retirement savings plans, core and supplemental life
insurance, medical and dental insurance, health savings accounts,
well-being reimbursement programs, adoption assistance, fertility
benefits, and parental leave.
11

Nurture healthy people

Breaking down barriers and building equity

leaders with tools, resources, and insights to assess their leadership

We strive to cultivate an environment where innovation and gendereffectiveness and deploy a people leadership learning series designed toequality flourish. With the goal of encouraging more women toelevate the leadership capabilities of our people leaders to help unleash

pursue their dreams of a career in manufacturing and to ensure they

performance and impact.

have the opportunity and are appropriately rewarded, the Women in

Ongoing listening is key to creating a Kenvue workplace where people

Manufacturing (WiM) program was piloted in Brazil at Kenvue Sao Jose

can learn, grow, and be their authentic selves. We regularly conduct

Campos manufacturing plant in 2023. With programmatic elements

surveys that gauge employee sentiment in areas like strategicthat include job rotations, self-knowledge and learning journeys,alignment, execution, inclusion, effectiveness of our people leaders, andmentoring sessions, career purpose and executive presence workshops,

career development.

and technical trainings, ten women participated in the first year of
the pilot which was focused on program shaping and execution. Going

To that end, we launched our first Engage Survey in September of 2023

forward, the WiM program will be operated through Women at Kenvue,

to gain more insights on employee engagement, inclusion, people leader

which is part of the Kenvuer Impact Network. In 2024, the program

effectiveness, and how we are living our Kenvue Values. The survey was

will be expanded to include Kenvue manufacturing and operations inavailable in 17 languages, and all regular, full-time team members who

Argentina and Colombia with a focus on training women in key

have been at Kenvue more than 90 days were invited to participate.

positions including forklift operator, electrician, and maintenance,

More than 18,800 Kenvuers completed the survey, a 92% global

among others.

response rate.

To date, Kenvue has successfully filled manufacturing and maintenance

81% of Kenvuers view working at Kenvue favorably

positions with women from the group. The WiM program reinforces ourcompany’s ongoing commitment to building an inclusive and equitable

85% of Kenvuers are favorable on the Inclusion Index

work environment, celebrating diversity, and leveraging the uniquecontributions of each employee.

A workplace where everyone belongs
We promote an open, inclusive, and respectful culture that allows each
Kenvuer to maximize their contributions to our work, our Company, andthe communities in which we operate.

Employee engagement
We believe that an engaged workforce is more likely to deliver higher
levels of performance and further differentiates us in the marketplace.
We believe that open and honest communication among all teammembers creates a collaborative and inclusive work environment.

84% of Kenvuers feel supported by their people leaders
The results speak to the progress we are making in building a culture
where team members feel motivated, included, and proud to be at
Kenvue. Three key measured areas aligned to our 2023 objectives:

In 2023, we defined clear expectations for our people leaders throughengagement (the level of enthusiasm and dedication we feel towards

our Kenvue Promise and embedded these expected behaviors in

Kenvue), inclusion (a strong sense of belonging at Kenvue), and people

our people leader OKRs. We also equipped people leaders with ateam members want to work here and why they want to stay here. Fourleader effectiveness (developing trust and demonstrating respect)—all

High Performing and Highly Engaged Teams toolkit to support themdistinct elements make it unique to Kenvue: Meaning, Belonging,of which are key drivers of business impact and scored higher than thein building high-performing and highly engaged teams. Last year,

Growth, and Rewards. And it’s very simple. We want all Kenvuers:

industry average on the majority of benchmarked questions. Scores

we established the foundation for our people leader learning andon key items like feeling like they belong at Kenvue, being treated with· To find meaning in their work and how they can impact Our Purpose.

development curriculum, which includes core DEI content (empathy,

respect at work, and trusting their people leader put us in the top· To feel part of Kenvue and that they belong here.

trust, cultural competency, psychological safety) and prepares ourdecile of the industry on these items.

· To feel that the work they do and the people they get to work withpeople leaders to transition to our new performance philosophy,

The Kenvue Promise
Our employee value proposition, the Kenvue Promise, answers why

allow them to grow and contribute to our Company’s growth. As
Kenvue grows, we all grow, and this is the best place to do that.

known as Performance at Kenvue. Going forward, we will equip people· To be rewarded for their business impact.
12

Nurture healthy people

A commitment to pay equity

Kenvuer Impact Network

As part of our commitment to pay all Kenvuers fair and equitable

Our Kenvuer Impact Network consists of 11 voluntary, employee-led

compensation, we diligently monitor our compensation practices.

resource groups plus five Regional Impact Networks designed to foster an

We reward team members based on both their individual and overall

inclusive workplace, enhance engagement, and bring together colleagues

business performance, which promotes outstanding performanceacross the global organization. The Kenvuer Impact Network organizes

and contributions by our people. We track pay reporting and pay

learning and development opportunities that elevate important issues andtransparency requirements around the world and ensure that we areencourage open, honest conversations. They also inspire and facilitate

complying with pay fairness and transparency regulations in every

positive change in our company culture and operations. Aligned with our

location in which we operate.

DEI strategic pillars, the Kenvuer Impact Network:

Global Kenvuer Impact Networks· Provides access to global talent through partnerships with diverse

organizations, a referral program, and recruitment efforts that help
build a workforce that represents the markets in which we operate
and the communities in which we live.

· Fosters and nurtures belonging by playing an active role in supporting

the onboarding of new hires, establishing mentorships, and creating
engaging events that recognize and celebrate the diversity of ourorganization throughout the year.

· Represents the diverse communities we serve by providing our brands

with insights to innovate and bring our brands closer to consumer needs.

· Provides leadership and development opportunities for Kenvuers.

Black at Kenvue
Brazil’s Black Awareness Month celebrates Afro-Brazilian culture, thefight against racism, and the achievements of the Black community. The

Regional Kenvuer Impact Networks

message of 2023 for Black at Kenvue Brazil was “Blackness as Powerand Intersectionality.” The organization celebrated the Black community
throughout the month by recognizing Blackness as not a single
experience, but an intersection of identities, including race, gender,
sexual orientation, and social class.

13

Nurture healthy people

Listerine®, Aveeno®, Tylenol® and Zyrtec®. CIIM™ scores are measuresof aggregate Cultural Relevance Attribute performance and aremeasured on a scale of 0 to 200, with 0 being offensive/not relevant, 100
being the point of neutrality/indifference, and 200 being highly culturally
relevant. Nearly all the advertising tested scored in the first quartile(Best-In-Culture) or second quartile (Good Cultural Relevancy) acrossall audience segments for cultural relevance and DEI copy testing.
CIIM™ is a new metric that identifies the impact and effectivenessof cultural insights in ads and programming and how these havethe potential to lift brands' trust, loyalty, and sales. The teams areevaluating how to institutionalize AIMM CIIM™ testing within our media
capabilities going forward.
Neutrogena® Purescreen+™ Mineral UV Tint Face Liquid Sunscreen
Most mineral sunscreens have a major problem: they leave behind a white
cast on many skin tones. The white cast is caused by the titanium dioxideand zinc oxide used in mineral sunscreens, which physically block
dangerous sun rays before they have a chance to touch your skin. And
it’s even more noticeable on darker skin tones. When it comes to sun
protection, dark skin consumers' most common complaint is that themineral-based sunscreen leaves their skin looking chalky.

A marketplace that serves all people
Our brands are committed to developing products, experiences, andinnovations that reflect the diversity of our global consumers andtheir health and well-being needs. Our global Consumer Insights
organization has expanded research into race and ethnicity, deepened
our understanding of unconscious bias through supplemental training,

Knowing that the American Academy of Dermatology warns that people
with dark skin tones, of any race or ethnicity, are still susceptible to sun
damage such as sunburn, hyperpigmentation, skin cancer, and prematureaging, Kenvue researchers set out to create a mineral sunscreen thatappeared invisible on all skin tones. Finding a solution took a diverse
14-person group of Kenvue researchers of various ethnicities and skin tones.

and advanced our understanding of inclusive, human-centered design

The Neutrogena® Purescreen+™ Mineral UV Tint Face Liquid Sunscreen

and communications through third-party collaborations. In December,

range was designed to be inclusive of all skin tones with four flexible

Kenvue collaborated with the Alliance for Inclusive and Multicultural

shades. The broad-spectrum SPF 30 helps protect against signs

Marketing (AIMM) to implement Cultural Insights Impact Measure™ (CIIM)of sun-induced skin aging including: wrinkles, dark spots, fine lines,

testing in the U.S. across eight ads of our top brands: Neutrogena®,

and discoloration.

14

Nurture healthy people

Aveeno® SkinVisibility

SkinVisibility includes a dedicated one-stop digital hub with resources

Aveeno® is continuing its program, SkinVisibility, to address thefor people of color which includes:

underdiagnosis, care, and treatment of sensitive skin conditions onskin of color. Originally launched during Eczema Awareness Month in
2021, the campaign seeks to drive equitable access to educational tools,
resources, and products for eczema diagnosis and care on skin of color.
Eczema is the second most frequent skin disease in skin of color andis one of the most common skin disorders seen in infants and children· A quiz to help people with eczema identify telltale symptoms of eczema.
· A community feedback loop driven by personal testimonials on theroad to identifying and treating eczema.

· A holistic lifestyle guide for prevention & management.
· Information on the power of oats in an eczema regimen, highlighting

the Aveeno® Eczema Therapy product portfolio.

overall. Often, however, eczema can be misdiagnosed or improperly treated

When launched, the SkinVisibility program sought to help 100,000

in skin of color, as it presents differently in skin tones with more melanin.

Eczema Warriors, those who are battling the skin condition, and eachyear we expand upon our mission. In 2023, the Aveeno® program
brought together a roster of dermatologists, skin health advocates,
and celebrities to drive conversation around eczema’s disproportionate
impact on the Black community. The program also helped 200,000
Black women and women of color have access to culturally sensitive
healthcare providers and receive resources on treating eczemaprone skin. In 2023, the program has achieved 300+ million media
impressions, 1.2 million social media impressions and the Eczema
Equality video has reached more than 1.1 million viewers.
Johnson's® Blackinho Poderoso
Before launching Johnson’s® Blackinho Poderoso line in Brazil in 2023,
the team conducted research to understand the meaning of care andthe relationship between Black children’s hair and self-esteem. The
research revealed that 87% of caregivers interviewed want their childto take pride in their natural hair, and 85% affirm that childhood is a
crucial time for learning to love their hair and themselves.
When asked, 81% of respondents agreed that hair is a fundamental partof a child's beauty and identity, and they understand that caring for thehair is a way to value their Blackness.
The result was the development of Johnson’s® Blackinho Poderosoline—a complete and exclusive line for curly hair, enriched with coconut
oil, offering 10 benefits including cleansing, detangling, hydrating,treating, and defining the hair. The new Blackinho Poderoso line isalready available throughout Brazil.

15

Nurture healthy people

Public healthincreasingly volatile and climate-impacted world and is rooted in

Nurturing healthy people goes beyond our products and their role inThis is part of how we live Our Purpose every day to take actions, both

moments of everyday care. Kenvue Cares, our social impac t platform, is

big and small, that add up to meaningful impact for people in the best

Public healthcommitted to creating meaning ful, long-term value for our communities

and worst of times.

· Advance community health and well-being through a culture of caring andencouraging employee volunteer service

restoring the dignity of everyday care for those affected by disaster.

through volunteerism, humanitarian aid, and br and purpose pr ograms.
Together, Kenvuers use their talent, passion, and resources to nurture
healthy people, enrich a healthy planet, and ultimately build positivechange for communities ar ound the world.

We supported various relief efforts throughout 2023 through monetary

Healthy people goals & commitments

and in-kind product donations, including:· Help restore the dignity of everyday care for vulnerable and displaced
people around the world

Maui wildfire relief support· Create positive environmental and social impacts through brand purpose
programs led by Kenvue's top brands· Pledged $250,000 USD to Direct Relief, a non-profit organization

Caring for our communities
Kenvue aims to create a culture of caring by developing a ritual ofvolunteerism wher e we can have the greatest impact as a global leader
in personal health and wellness.
Throughout the world, Kenvuers use their talent, time, passion, andresources to create meaningful impact in their communities throughvolunteer service and humanitarian aid. As a part of this commitment
and building on the many employee volunteer initiatives around theworld, we will launch the Kenvue Cares volunteer program across six
cities globally in 2024. We look forward to sharing more about our
Kenvue Cares pilot program rollout in our next report.

helping with care and recovery efforts following Maui wildfires.
· Working with Feeding America/Maui Foodbank and our retailcustomers, we mobilized the donation of personal care products andover-the-counter (OTC) medicines.
Earthquake survivor support in Turkey and Syria· Worked with partners on the ground – Direct Relief, Bring Hopeand the AHBAP Association – to ensure the shipments clear
customs and reach East Turkey for distribution.
Earthquake survivor support in Morocco· Donated $100,000 USD to the Moroccan Red Crescent to provide

help to support recovery efforts.
· Worked with our local distributor to empower nonprofit La BanqueHighlights on progress

Alimentaire to mobilize hygiene product donations.

Goals & commitments
Value7 of in-kind
contributions
Help restore the dignity of
everyday care for vulnerable anddisplaced people around the world

Value of cash
contributions

Canada wildfire survivor support· Donated $50,000 CAD to the Canadian Red Cross 2023 Wildfire Fund.
· Worked with Food Banks Canada to mobilize the donation of personal$31.0 MM$0.7 MM

care products.
Hygiene kits donation

Our Purpose in action
In 2023, over 300 million people29 were displaced by geopoliticalor extreme weather events and needed humanitarian assistanceor protection. Our approach to humanitarian aid is informed by anDocument footnotes· We made a $178,000 USD donation to Heart to Heart International, ahealthcare charitable organization, to develop 25,000 Kenvue Hygiene
Kits, inclusive of products like body wash, shampoo, and hand soap to
be used in emergency and relief settings. The first shipment of thesehygiene kits was sent to support relief work in Ukraine.

16

Nurture healthy people

Leading meaningful action through our brands

Also in 2023, o.b.® initiated a fundraising campaign with the German

Our Purpose is clear. We believe when people can count on care every day,Children and Youth Foundation (DKJS), in which the equivalent of 10 cents

it not only makes them well, but it also makes them whole—empowering

per o.b.® pack sold went to the foundation's "we empower girls" program

them to engage more fully with the people, experiences, and world aroundto help girls develop professional skills independent of gender stereotypes.

them. We expand our efforts by creating positive social and environmental

The campaign generated approximately $70,000 for the program.

impact through brand-led purpose programs.

The Whoa CollectionMore than 12% of the U.S. population identifies as Black, howeverstudies show that fewer than 4% of dentists 30 identify as such. At thesame time, there is a major disparity in oral health care access, witha reported 40% of Black adults in the U .S. living with un treated dental
cavities. 31 By improving Black representation and incr easing thepercentage of practicing Black den tists, we can positively impact theunderstanding, behaviors, and access around oral healthcare.
To do so, Listerine® has par tnered with cultural agency Compound
to introduce The Whoa Collec tion, a collaboration designed t o spark
conversation and, mos t importantly, drive awareness and help close thediversity gap in dentistry within the Black communit y.
The partners worked with prominent Black artists and engaged
impactful culture curators to develop a limited-edition bottle design,an original mu sical track, digital and social con tent, and endowment.
Smokefree Families
Kenvue, the maker of Nicorette®, launched the Smok efree Families
program in the U.K. with the aim of significantly reducing the numberof babies born in to—and children living in—hou seholds wher e someone
smokes. Kenvue commissioned new research and launched a polic y

Further program activity is planned for 2024 to continue to drive
awareness and ensure new parents and their support networks makesuccessful quit attempts and ensure a better start to life for all children.

Breaking taboos and empowering girls

report in the U.K. Parliament and has developed a series of tools andNicotine replacement therapy (NRT) included in WHO essential

Founded in Germany, o.b.® has been empowering women with innovative

materials to support healthcare professionals with their conversations

medicine list and pre-qualification list

and reliable menstrual cycle solutions for more than 70 years. The brandwith expectant parents, smokers with young children, and their support

In July 2023, following successful submissions from Kenvue, Nicotine

collaborated with the German Soccer Association’s (DFB) national

networks, on their quit journey. Resources are made available toreplacement therapy ( NRT) Lozenge and Oral Spray were added to thewomen’s team for the #LetsTalkPeriods campaign. The DFB partnership

healthcare professionals, including a "Quitting together for a

World Health Organization Model List of Essential Medicines. Further, infeatured an entire sports team of advocates talking openly to demystify

smokefree hom e" guide, which outlines six practical steps families canApril 2024, Nicorette® gum and patch were the first NRT products

the menstrual cycle, bring gynecological insights, and create a taboo-freetake to quit smoking, and a series of educational videos offering

added to the WHO’s pre-qualification list which assesses the quality,

society around the topic.

guidance on how to support partners to quit for good.

safety, and efficacy of medicinal products.

Document footnotes17Nurture healthy people

Workforce health,safety & well-being
As a global leader in personal health and wellness, investing in Kenvuer
health, safety, and well-being is foundational to Our Purpose and Values.
This foundation fosters a culture where all colleagues are dedicated toensuring safe and effective products, and to keeping each other safe,
healthy, and supported physically, emotionally, and financially.

Workplace safety

The HOP skills pathway pilot included 17 individuals from Quality, EHS,

We have robust processes to identify potential safety risks associatedand Operations Excellence who participated in a six-month active learningwith workplace activities, and to develop measures and implement

program with an external thought leader. In 2024, EHS will expand thecontrols to mitigate possible exposure to hazards. We support teamprogram to 82 employees across Operations, Facilities, EHS, and Quality.

members with general safety training and have implemented specificprograms for those working in potentially high-risk environments.
In 2023, our Quality, Health & Safety (QHS) team stood up ourEnvironmental Health & Safety (EHS) policy, internal Management
System, and saw the integration of EHS and Occupational Health intoa single function. The team also oversaw 74 Government Authority
inspections with zero critical findings, assessed our Company’s
regulatory compliance with more than 29,000 global EHS laws, and
led ISO 45001, an internationally recognized framework for managing
occupational health and safety risks, group and individual site
certification for our Pomezia, Helsingborg , and Shanghai sites.
In November, QHS hosted our first global Safety & Quality Week
with educational and interactive events, including opportunities for
Kenvuers around the world to submit proposals for quality and safety
improvements and participate in interactive and online challenges.
Safety & Quality Week was an opportunity for every Kenvuer to learn
more about what it means to live into our Safety & Quality commitment,
the many ways we keep each other safe, and how we ensure high-quality
products reach our consumers. More information about our position on
Quality, Safety & Compliance can be found on kenvue.com.
Human & Organizational Performance (HOP)
In 2023, aligned with leading-practice companies, our EHS team piloted
a Human and Organizational Performance (HOP) training program,which provides a new way of looking at work, people, and the systems inwhich people get work done. HOP is a risk-based operating philosophy
which recognizes that error is part of the human condition and thatan organization’s processes and systems greatly influence employee
actions and choices, and consequently, their likelihood of success.
Kenvue aims to integrate HOP into operating practices to amplify
the excellence that already exists, optimize systems, and reduce
constraints, to create conditions for success.

Keeping Kenvuers safe
Kenvue is committed to providing a work environment free of fear,
intimidation, harassment, bullying, and violence. Launched in 2023,
our Keeping Kenvue Safe video was designed to help all Kenvuers
achieve situational awareness in all environments, know when toreport threats, concerns, or incidents, and reduce risks associatedwith workplace violence.

18

Nurture healthy people

Employee well-being

Our benefits reflect one of our core values: We Put People First. While

Our Kenvue team is taking a holistic approach to employee well-being.

actual benefits offered might vary in markets around the world, below

Our focus on nurturing total well-being is critical to developing workplace

are some of the benefits we offer Kenvuers in the U.S., as well as inresilience and our programs are designed to address Kenvuers’ physical,

many other work locations worldwide:

emotional, and financial well-being.
· Physical well-being: Our belief that daily care rituals have a profoundcumulative impact on well-being informs our approach to teammember physical health. We reinforce healthy behaviors, enable
access to care, and provide a safe workplace for our colleagues.

· Emotional well-being: We help team members feel engaged and build

resiliency through specialized emotional support resources, empowering
them to be productive and connected at home and at work.

· Financial well-being: We empower team members with knowledge

and resources to manage finances and achieve financial security.

Compensation, benefits, & well-being
We offer compensation and benefit programs designed to attract,develop, and retain top talent. We reward and recognize superior
performance, support our growth and talent strategy, and closely alignKenvuer compensation with company and individual performance, as
well as attract, develop, and retain top talent in a highly competitiveenvironment. We aim to provide base pay that is competitive for an
employee’s position, skill level, experience, and geographic location. In
addition to base pay, we seek to motivate and reward team members at
certain job levels with annual cash incentives and long-term incentive
awards. Additionally, we conduct periodic benchmarking analyses
to help ensure our compensation programs remain competitive andregularly assess internal pay equity.

· Paid time off – we know it’s important to take time away from work,

so team members can be the best version of themselves.

· Flexible working arrangements – we capture the energy of in-person

interactions and remote flexibility to perform at our best for ourcustomers and our consumers.

· Health insurance – benefits include coverage for doctor visits,

mental health care, and more.

· Retirement savings program – designed to help our team meet their

future financial goals, including a 401(k) matching program.

· Mental well-being resources – team members have access to an

Employee Assistance Program (EAP) to help them strike the right blend
between work and life, locate a mental health counselor, and more.

· Global exercise reimbursement – team members are eligible fora quarterly reimbursement for participating in the health andwell-being activities of their choice.

· Adoption, fertility, and surrogacy benefits – we offer assistancewith fertility treatments, adoption, and surrogacy.

· Global parental leave – paid leave is available to all colleagues– maternal, paternal, adoptive, surrogacy-assisted, or foster parents– and can be taken during the first year of a new child’s arrival into theirfamily.

Our benefits reflect one of ourcore values: We put people firstAs part of our holistic approach to employee well-being, ourcomprehensive benefits package is designed to keep Kenvuers happy

We work hard to create an environment where Kenvuers feel a strong

and healthy—physically, emotionally, and financially.

sense of belonging, feel empowered to care for their health and wellbeing and that of their families, feel like they can grow and have fulfilling
careers, and feel recognized and valued for their contributions.

19Enrich ahealthyplanetWe strive to enrich a healthy planetby making responsible and renewablechoices to help safeguard the earth’s
health and resources while managing
the impacts we create.
Human health is inseparably linked to environmental health and, as the world’s largest
pure-play consumer health company by revenue, our commitment to everyday care extends
to the planet we call home. We’re advancing sustainability across our operations – fromproduct and packaging design to material sourcing, manufacturing, and transportation.
We’re acting on climate change by reducing our GHG emissions and increasing our use ofrenewable energy in our operations and across our value chain to support a healthier planet.
We follow a circular approach: looking at the impact our products have across our global
value chain throughout their lifecycle, and considering everything from where our materials
are sourced to their end of life.
Across our portfolio, we innovate with sustainability in mind: increased the use of recycled
and renewable plastic, designed packaging for recyclability, and introduced refillable
product options within our Essential Health and Skin Health & Beauty segments. We arealso equally committed to sustainable sourcing, from promoting zero deforestation toprioritizing the use of materials that originate from trusted sources.

20Enrich a healthy planet

Climate change

Healthy planet goals & commitments

Climate change is one of the most significant challenges of our timeand is transforming businesses around the world. While climatechange poses significant risks it also poses new growth opportunities
for companies in the transition to a net-zero future. At Kenvue, we’retaking action on climate change by reducing our GHG emissions andincreasing our use of renewable energy in our operations and acrossour value chain. At the end of 2023, we began an assessment of ourpotential and actual climate change-related impacts as well as thephysical and transition risks and opportunities posed to us by climate

Climate change· Kenvue commits to reduce absolute scope 1 and 2 GHG emissions8,9,10
42% by 203017 from a 2020 base year
· Kenvue commits that 75% of its suppliers by emissions covering purchased
goods and services and upstream transportation and distribution will havescience-based targets by 202817· Set long-term net-zero emissions targets, informed by the SBTi
Net-Zero Standard18· 100% renewable electricity14 for our operations8 by 203015,17

change, using the Task Force on Climate-related Financial Disclosures(TCFD) framework. We are working to develop strategies to manage theimpacts, risks, and opportunities identified and expect to publish our

Science-based targets

TCFD findings and disclose through CDP, formerly known as the Carbon

We have committed to setting near-term and long-term company-wide

Disclosure Project, in 2024.

GHG emission reduction targets in line with the SBTi Net-Zero Standard
and our near-term targets have been validated by SBTi. The SBTi
defines and promotes best practices in science-based target setting

Highlights on progress

and independently assesses and approves companies’ targets. Aligned

Goals & commitmentswith SBTi and the latest climate science from the United Nations (U.N.)
Intergovernmental Panel on Climate Change (IPCC), our goals and2020

Total Absolute
GHG Emissions8,9,10(Scope 1+2) (MT CO2e)
Scope 1 Absolute
GHG Emissions8,9,10(MT CO2e)
Scope 2 Absolute
GHG Emissions8,9,10(MT CO2e)

2021

2022

2023

% changevs. baseline

commitments provide us with clearly defined targets to reduce GHG
emissions in line with limiting global temperature rise to 1.5°C, alignedwith the Paris Agreement goals.

210,673

206,567

185,916

156,529

25.7%

As part of our near-term targets, we’re working to reduce our absolute
Scope 1 and Scope 2 GHG emissions 42% by 2030 from a 2020 baseline

73,841

136,832

73,062

133,505

71,982

113,934

62,91993,610

14.8%

31.6%

through investments in renewable energy, energy efficiency, better
fugitive emissions management, and fleet decarbonization projects.
Our company’s largest Scope 1 and 2 emissions are from electric power,
followed by natural gas. Emissions from electric power represented 60%
of our Scope 2 emissions, with the next largest source being natural
gas and ancillary fuels from facilities, representing 35%. The remaining
Scope 1 and 2 emissions are from fleet (3%), and fugitive emissions (3%).

Document footnotes

21Enrich a healthy planet

Renewable electricity
Renewable electricity sources cover approximately 65% of ourelectricity usage. We’ve built 18 onsite systems in 12 countries. All are
fully operational, including five that came online in 2023. We haveRenewable electricity sources
cover approximately 65% of ourelectricity usage

also executed nine contracts for offsite renewable electricity
procurement in the form of virtual power purchase agreements(VPPAs) in North America and Europe; direct power purchaseagreements (PPAs) in Brazil, Argentina, and India; and green retailcontracts in Colombia, Malaysia, and China.

Collaborating to reduce Scope 3 emissions
Like most consumer goods manufacturing companies, emissions
directly within our control only amount to approximately 5% of the total
emissions associated with our value chain. Our Company’s Upstream
Scope 3 categories are the largest emissions source and represent
about 90% of our total emissions. The most significant emission sources

Highlights on progress

are from Purchased Goods & Services (71%) (all emissions related to ourGoals & commitments

Total Kenvue renewable electricity

NA

direct and indirect spend) and Upstream Transportation & Distribution
2023
14

total MWhs

% Renewable

90,61062.8%(15%) (moving raw materials and product). Our Downstream Scope
3 categories represent only about 5% of total emissions, and include
product-related emissions (shipping products to customers andconsumers, consumer use of products, and the impact of productdisposal- either recycling products or throwing them away without

EMEA

75,908

81.1%

LATAM

75,175100%

APAC

22,14624.2%

recovery).
To advance our transition toward net zero, we must support our value
chain partners in setting and achieving their own ambitious science-based
climate goals. Our supplier engagement program allows us to customize
the way we engage with our value chain partners based on their climate
maturity, carbon footprint and long-term decarbonization strategies.

In the APAC region, seven out of 10 Kenvue manufacturing sites rely on
renewable electricity sources. Bangkok, Thailand is home to the largest
digitally integrated solar panel installation in our network. Equivalent
to three U.S. football fields, the rooftop installation provides 13% of theplant’s electricity requirements and reduces CO2e emissions by nearly
3,000 metric tons annually.

Document footnotes

In accordance with SBTi, we are targeting Kenvue suppliers that
represent 75% of our Scope 3 emissions to set science-based targets by
year-end 2028. If our supplier engagement program is successful, 75%of our suppliers by emissions covering Category 1, Purchased Goods &Services (C1), and Category 4, Upstream Transportation & Distribution(C4), will have science-based targets by the end of 2028. Together,
these suppliers cover 75% of our total Scope 3 emissions.

22

Enrich a healthy planet

5%

Highlights on progress
Goals & commitments% of our suppliers by emissions
covering Category 1: Purchased
goods & services32 and Category
4: Upstream transportation& distribution,33 that havescience-based targets by 202817

4%
2022

2023

19%

21%

Direct Operations
Scope 1 & 2

Upstream
Scope 3All Other5%

Downstream Scope 3
All Other15%
Upstream
Scope 3C4 Upstream
transport

Scope 1, 2 and 3
emissions

Driving the Fourth Industrial Revolution

71%

Upstream Scope 3
C1 Purchased
goods & services

The Fourth Industrial Revolution (4IR) is an era of disruptive innovationthat is shaping the future of manufacturing. The World Economic
Forum, in collaboration with McKinsey, has recognized Kenvue with two
new designations in 2023 as part of their Global Lighthouse Network,a prestigious community of leading manufacturers at the forefrontof accelerating the adoption of 4IR technologies in their respective
industries worldwide. In line with our HLM, the Global Lighthouse
Network showcases opportunities for Fourth Industrial Revolution
technologies to positively impact people and the planet.

3%

5%

Other Scope 3

C12 End-of-Lifeof sold products

C2 Capital goods(0.6%)

Our Shanghai Value Chain was named a Global Lighthouse for
implementing more than 25 4IR innovations, including big data analytics
for social media, machine learning, additive manufacturing, and digital
twins—a concept that allows for a digital model of a physical product.
This resulted in a 50% reduction in new product introduction lead times,
a 1.3-times improvement in production forecast accuracy and 99.8% ontime-in-full deliveries within 48 hours.
Building on its original Lighthouse designation in 2022, our Bangkok,
Thailand site has achieved the status of Global Sustainability
Lighthouse for their use of 4IR technologies toward more sustainable
resource management.

C5 Waste generated
in operations (0.1%)

16%

C4 Upstream
transport &distribution

C6 Business travel(0.8%)

Scope 3emissions

2%

C7 Employee
commuting (1.0%)
C8 Upstream leased
assets (0.2%)
C9 Downstream
transportation& distribution (0.5%)

C3 Fuel& energy- related
activities

C11 Use of soldproducts (0.02%)

74%

C15 Investments(0.02%)

C1 Purchased
goods & services

Document footnotes

23Enrich a healthy planet

Plastics

Healthy planet goals & commitments

Kenvue is identifying ways to support the transition from a linear economic
model (take, make, use, dispose) toward a circular economic model where

Plastics

packaging materials are kept in circulation through recycling or reuse,· 100% recyclable19 or refillable20 packaging21 by 202517

which helps reduce the amount of packaging material that is not recovered.

· 25% reduction of virgin plastic11 in packaging21 by 202517 from a 2020 base year

We understand that a systems approach, including upstream solutions for· 50% reduction of virgin plastic11 in packaging21 by 203017 from a 2020 base year

high-performing packaging materials and design (such as the eliminationof problematic or unnecessary packaging) as well as downstream solutionsof waste recovery and recycling infrastructure, are required to addressthese challenges.
At Kenvue, we follow a circular design approach, looking at the impact our
products have on every aspect of our global value chain throughout theirlifecycle and considering everything from where our materials are sourced
to their end of life.
We innovate with sustainability in mind and through eco-design, material
optimization, refill and reuse, format standardization, and inclusion ofrecycled content, to reduce our dependence on virgin plastics. Innovative
packaging that uses less, refills more or recycles easily, aligned withprinciples of the circular economy, has widely informed our approach.

Highlights on progress
Goals & commitments
2021

2022

2023

100% recyclable19 or refillable20
packaging21 by 202517

72.8%

71.1%

71.4%

25% reduction of virgin plastic11
in packaging21 by 202517 and 50%
by 203017 from a 2020 base year

1%

9.6%

21.1%

Document footnotes

24Enrich a healthy planet

Partnering to accelerate progress

progress toward increasing the circularity of packaging. The nine rules

Innovating to replace: Aveeno® bottles use 50% recycled plastic,

Partnerships are critical to helping us scale change and increase thefocus on removing problematic packaging, reducing the amount of

replacing plastic from virgin sources, and are recyclable (excluding

circularity of packaging globally. As a signatory to the Global Plastics

packaging used, and designing packaging for recyclability.

labels). The lotion bottles now also have a pump that can be recycled inCommitment, our virgin plastics reduction strategy is aligned withcircular economy principles set forth by the Ellen MacArthur Foundation(EMF). We signed the EMF Global Plastics Commitment in 2020,
which is the basis for our 2025 virgin plastic reduction, recyclable,
and refillable packaging goals. In addition to serving as an important
thought leader on the circular economy, EMF has motivated leading
consumer goods companies to eliminate problematic and unnecessary
plastic packaging through reduction and innovation.
As a member of the Consumer Goods Forum (CGF) Plastic Waste
Coalition of Action, our design process is aligned with the CGF Golden
Design Rules, which are a set of voluntary, independent, and time-boundcommitments for the design of plastic packaging, created to accelerate

We are also an investor in Closed Loop Partners’ Infrastructure Group,

many markets.

which provides below-market rate loans to finance projects that build

Innovating to refill & reuse: Designed for reuse, Neutrogena® Hydroout circular economy infrastructure in the United States. These projects

Boost refill pods help reduce plastic waste by 89% when a consumer

include waste collection, enabling technology, end manufacturing,refills the packaging with a pod instead of buying a new jar.

processing, and sortation. The Infrastructure Group is funded by

Innovating to recover: Aligned with the principles of the circular

the world’s largest retailers, corporate foundations, technology, andconsumer goods companies.

Designing for the circular economy
Innovating to reduce: Le Petit Marseillais® optimized packaging design

economy, Listerine® is rolling out updated packaging around the globe,
designed to be recycle-ready by using washable adhesive for its labels
and by introducing a clear cap that is more easily recycled in many
local municipal waste sorting facilities.

that reduces the overall material use, and includes 30% recycled plastic
content in the bottle.

25

Enrich a healthy planet

Biodiversity, land & forest

Healthy planet goals & commitments

Forests are a vital resource, critical to the health of all people, plants,
and animals that inhabit our planet. They provide us with oxygen, food,and medicine—including those made by Kenvue. They also sustain
ecosystem services such as water purification, and the mitigation ofnatural hazards like droughts, floods, and landslides. Today, forests
cover approximately 30% of the earth’s land area; approximately 300

Biodiversity, land & forest· Kenvue is committed to zero deforestation and to ensuring thepaper-based packaging we purchase directly originates from low-risksources.22 Specifically, we aim to achieve 100% certified12 or verified
recycled13 paper and wood fiber packaging23 by 202517· Maintain 100% Roundtable on Sustainable Palm Oil (RSPO) certification
for the palm-based ingredients we purchase24 through a combination of
RSPO certified physical supply chains and RSPO Book & Claim credits25

million people worldwide live in forests; and 1.6 billion people depend
on forests for their livelihoods.34· Purchase24 at least 75% of our volumes from RSPO physical supply
chains25 by 202517 and 100% by 203017

Forests also play an important role in mitigating climate change.
When forests are cut, burned, or otherwise removed they no longer
act as a carbon sink, but instead emit carbon, which contributes tochanges in climate patterns.

Responsible wood-fiber sourcing
While Kenvue does not own or manage forests, we do purchase paper
and wood-fiber products and recognize that we can play a role inHighlights on progress

supporting responsible forestry through our sourcing of these materials.

Goals & commitments

Our position on Responsible Wood-Fiber Sourcing and annual progress
outlines the actions our Kenvue team is taking to support the supply

2023

Total Kenvue volume of paper and wood fiber sourced
Total volume of certified12 or verified recycled13
paper and wood fiber packaging23
Forest Stewardship Council (FSC®) certified35
paper/wood fiber
Programme for the Endorsement of Forest
Certification (PEFC) certified36 paper/wood fiberMTs%

84,718--chain transformations necessary to protect the environment and thepeople in the paper and wood-fiber supply chains.
Kenvue strives to work with suppliers that share a common set ofvalues, comply with all applicable laws and regulations, and adhere to79,72894%

our expectations for supplier business conduct, human rights and labor
practices, workplace safety, and environmental stewardship.

43,12351%

We have implemented specific sourcing requirements for the wood-fiber
product suppliers from which we buy directly. We expect these suppliers to:

13,66016%· Provide supply chain transparency and traceability.
· Respect human rights in their own operations and business

Verified recycled13 paper/wood fiber

22,94527%

relationships.

· Partner and collaborate to effect positive industry change.
Total volume of paper and wood fiber packaging
not certified or verified recycled

Document footnotes

4,990

6%

· Work to reduce the GHG emissions and pollutant emissions

associated with their supply chains.

26

Enrich a healthy planet

We expect our suppliers to meet these sourcing requirements and toensure the sources of the paper and wood-fiber products they supply to
Kenvue are:
· Harvested and traded in compliance with all national and local laws

and international labor standards.

· Harvested in a manner that respects human rights and traditionalrights, including a commitment to secure the UN-recognized right toFree, Prior and Informed Consent (FPIC) for activities that may affectthe rights, land, resources and livelihoods of Indigenous peoples andlocal communities.

· Harvested in a manner that protects high-conservation value forests.

Not harvested from an area that is being converted to plantation or
non-forest use.

· Not developed on peatland.
· Not from areas cleared of natural forest after December 31, 2020.

Our sourcing principles apply to all paper and wood-fiber productsthat we purchase directly, and we verify compliance with our sourcing
principles for 100% of our direct spend on cartons, corrugates, andleaflets. Given the challenges of traceability of wood fiber sources,
Kenvue works with trusted partners to provide us with the thirdparty verification and expertise necessary to improve supply chaintransparency. Our due diligence process includes an additional focus on
suppliers located in regions with a heightened risk for deforestation.

Responsible palm oil sourcing

We do not own or manage palm oil plantations and, consequently,

From commitment to reality

Because of its versatility and efficiency, palm oil is the most widely used

are multiple links in the supply chain away from the original source of

Kenvue LATAM is the first region to achieve our goal of sourcing 100%vegetable oil in the world and is a common ingredient and feedstock topalm oil and palm kernel oil. However, we share other stakeholders’certified (Forest Stewardship Council (FSC®) or Programme for the

ingredients in packaged foods, biofuels, and personal care products.

concerns about the negative effect palm oil sourcing may have on

Endorsement of Forest Certification (PEFC) chain of custody standard)

Palm oil plantations have expanded in recent decades to meet growing

the environment and people, and we recognize that we can play aor verified recycled wood fiber packaging, ensuring that all cartons andglobal demand, raising stakeholder concerns about links between palmrole in supporting responsible palm oil production through enhanced

cardboard used in our products manufactured internally or purchased

oil cultivation and deforestation, and the associated negative impacts on

traceability and sourcing of these ingredients.

externally come from sources with responsible forest management or

biodiversity, people, and local communities.

from recycled sources.

Our Responsible Palm Oil Sourcing Position and annual progress

We primarily buy palm oil derivatives, meaning that our upstream

updates outline the actions our Kenvue team is taking to support

Every year, Kenvue LATAM purchases around 13,000 metric tons

suppliers may use a very small amount of palm oil and palm kernel oil

the supply chain transformations that are necessary to protect theof certified wood fiber packaging as part of our efforts to upholdto manufacture the oleochemical we purchase. Kenvue purchases lessenvironment and the people who work in the palm oil supply chain.

this commitment.

than 0.1% of the global annual production of palm oil.37

Document footnotes27Enrich a healthy planet

We expect our suppliers to ensure the sources of palm oil are from:· A legal source, which meets the principles and criteria of the RSPO,or where a recognized equivalent certification has been implemented.

· A plantation that meets the High Carbon Stock (HCS) Approach

methodology (including High Conservation Value [HCV] and FPIC).

· A supplier that ensures the protection of peatlands, HCV areas and HCS

forest.

· A supplier that does not use burning to clear land for either development

or replanting.

· A supplier that does not use forced, bonded or child labor.
· A supplier that respects the rights of all workers and local communities,

including migrant workers, women workers, and those on temporary
contracts or in the informal economy.

· A supplier that respects and includes smallholders in its supply chain.

Kenvue also participates with fellow ASD members in dynamic mappingand monitoring for deforestation in areas of Southeast Asia linked toour palm oil derivatives supply chain by leveraging the Nusantara Atlas
satellite monitoring platform.
Action for Sustainable Derivatives (ASD)
Through collaborations, organizations can drive change in thepalm oil supply chain. ASD is a collaborative initiative that brings
together companies in the cosmetics, home and personal care, andoleochemicals industries to collectively tackle supply chain issues
around palm oil and palm kernel oil derivatives.
As a member, Kenvue supports ASD’s mission to achieve a palm
derivatives supply chain that upholds NDPE principles, respects humanrights, and supports local livelihoods.

· Areas that have not been cleared of natural forest since December 31, 2020.

We monitor supplier and producer conformance to our responsible palm
oil sourcing principles using a wide range of partners and technologies,
relying on independent third-party verification methods where available.

Highlights on progress
Goals & commitments

If we identify an instance of nonconforming with a producer that is within2023

our supply chain, we take action based on the nature and severity of theviolation, and the amount of leverage we may have to correct the behavior.
To ensure that our palm derivatives suppliers are compliant with
our Responsible Palm Oil Sourcing Position and principles of No
Deforestation, No Peat, and No Exploitation (NDPE), we assess our
suppliers using the Sustainable Palm Index, an industry tool that rates
the commitments, action plans, and achievements of our palm suppliersMTs%

30,600100%

Identity Preserved 38

00%Segregated3900%Mass Balance 40

9,200

30%

Book & Claim credits 41

21,40070%

Total Kenvue volume of palm oil-based
ingredients purchased24
Volumes of palm oil-based ingredientspurchased through RSPO physical supply chains25
or covered by RSPO Book & Claim credits41

and identifies areas for improvement. Additionally, through our
Action for Sustainable Derivatives (ASD) membership and partnershipwith the Earthworm Foundation, Kenvue participates in a sharedgrievance dashboard to monitor, review, and investigate grievances in
the palm oil supply chain.

Document footnotes28Enrich a healthy planet

Waste

Through this project, Kenvue aims to improve existing landfill diversion

In addition to designing our products for the circular economy, ourroadmaps for each of our sites to achieve zero manufacturing waste.

programs expand reuse, recycling, and waste reduction, and develop

Kenvue team is also committed to responsibly managing waste
generated in the processing, production, and transportation of our

Kenvue plants strive for zero-waste

products. Aligned with waste management hierarchy, and an eye

Our manufacturing site in Lititz, Pennsylvania is leading the way on

toward resource optimization, we work to prevent and minimize waste

waste management in North America and was recently recognized bygenerated and divert waste from landfill through reuse, reclamation,

GreenCircle® for becoming a Zero Waste to Landfill facility.

redesign, recycling, composting, and waste-to-energy approaches.

In 2023, Kenvue Thailand earned the GOLD level of Total Resources Use

The ambition of zero manufacturing waste requires the participationand Efficiency certification for Zero Waste, from the Green Businessof every facet of a business, from product design, manufacturing

Certification Inc. GOLD status requires a site to meet stringent criteria,

processes, logistics, and supply chain decisions to waste management

demonstrate a high level of commitment to zero-waste principles, andand recycling considerations. Supply chain processes play a pivotal

offer proven execution performance upstream and downstream. Thisrole in realizing waste reduction targets through sustainable productincludes implementing effective end-to-end waste reduction strategies,

management and recycling practices. Inspired by circular economy

maximizing recycling, and composting efforts, and diverting a significant

thinking, closed-loop systems, and the recognition that better materials

amount of waste from landfills and incineration.

management and less waste leads to significant cost savings, in
2023 we embarked on the development of a total waste management

Pharmaceuticals & personal care products in the

program. Focused on our newly defined Kenvue manufacturing network,

environment

we intend to set zero waste goals for all manufacturing locations.

Pharmaceuticals and personal care products (PCPs) can enter
the environment through several different pathways. The source ofmost active pharmaceutical ingredients (APIs)42 detected in aquatic
ecosystems is normal patient and consumer use and excretion
following the use of medicines taken to address medical conditions,while the source of PCP ingredients entering the environment is fromwashing off products from the body during cleansing activities.
Our sector is pursuing a variety of preventative measures that can betaken to minimize these associated risks, including designing moresustainable products that are benign and biodegradable, rightsizing
pack sizes, redistributing unused pharmaceuticals, educating
health care professionals and the public, and facilitating partnerships
between environmental and healthcare scientists.

Document footnotes29Enrich a healthy planet

Our products

Our supply chain

Aligned with our commitments, we take proactive steps to assess andBeyond our walls, we work with suppliers, healthcare providers, andaddress OTC pharmaceuticals and PCPs in the environment as part ofconsumers to help mitigate concentrations of APIs in the environment.

our ambition to create products that support the health and well-being

Aligned with our Supplier Code of Conduct, Kenvue suppliers areof both people and our planet.

expected to operate in a sustainable and environmentally responsible

To achieve this, we follow the science to understand and effectively
manage the environmental risks associated with our products by:· Assessing all APIs and ingredients used in our products tounderstand any possible impacts on the environment, and conducting
comprehensive environmental risk assessments (ERAs) on APIs on atargeted basis.

· Leveraging our Sustainable Innovation Profiler (SIP), to make sure thatour products meet our standards to minimize environmental impacts.

· Considering Green Chemistry Principles, a framework developed

by Paul Anastas and John Warner for making a greener chemical,
process, or product in the design of PCP formulations and formulatingwith raw materials that are more sustainable, benign, andbiodegradable.

· Supporting scientific research and collaborations to fill knowledge

gaps to understand and mitigate the risks of OTC pharmaceuticals
and PCPs in the environment, including two recent studies onsunscreen environmental exposure assessment.

Our operations
While waste from the manufacture of OTC pharmaceuticals and
PCPs contributes to a small proportion of the pharmaceuticals and
PCPs found in the environment globally, it is the area where Kenvue
can have the greatest direct impact. We assess and address OTC
pharmaceuticals and PCPs in the environment by:· Actively managing the environmental risks resulting from ourmanufacturing processes.

· Monitoring wastewater and providing secondary wastewater

treatment, at a minimum, for our manufacturing plants.

manner. We verify supplier environmental performance through on-site
audits, including EcoVadis supplier scans of our suppliers’ operations
and wastewater management programs, to ensure compliance.
To further support responsible supply chain management, Kenvue is amember of the Pharmaceutical Supply Chain Initiative (PSCI) and aims
to align with their Principles for Responsible Supply Chain
Management, focused on responsible business practice: ethics, labor,
health and safety, environment, and management systems.
Our consumers
Consumers’ and patients’ use are the sources that contribute mostto pharmaceutical, or PCP residues detected in the environment.
Kenvue works in collaboration with industry and governments
to improve medicine disposal programs and related consumer
education through participation in the MyOldMeds initiative in the
U.S. and MEDSDISPOSAL in the EU. We are also a member of thePharmaceutical Product Stewardship Working Group, the largest
extended producer responsibility organization in the United States
dedicated to the proper collection and disposal of unused and/or expired
medicines and used sharps.
We often partner with industry peers to drive progress on these issues.
We contribute to the European-based Inter Associations Initiative
Pharmaceuticals in the Environment Task Force, which created the
Eco-Pharmaco-Stewardship framework to address PCPs in theenvironment. This includes an approach to extended environmental risk
assessments (ERA) for pharmaceuticals. For more information on thiseffort, visit the Association of the European Self-Care Industry website.

30

Maintain
healthypractice
We promote our culture of integrity,
ethics, and transparency to build
trust and create meaningful, long-termvalue for all our stakeholders.
The Kenvue Purpose—realize the extraordinary power of everyday care—guides how wetreat our people, innovate, conduct business, and design our products. We are committed
to continually earning a place for our products in consumers’ hearts and homes, and wedo this by delivering products that support healthy people and a healthy planet.
We aim to foster a culture where all colleagues are dedicated to ensuring safe andeffective products and to keeping our team members safe and healthy. This commitment
is critical to generational consumer trust. Our brands are often introduced to people
by someone who cares deeply about them. We strive to build consumer trust throughenhanced product and ingredient transparency and science-based innovation.
Science has always been at the core of how we provide care, and we believe it’s also the
key to creating a more sustainable company. At Kenvue, science-backed innovation that
improves the environmental performance of our products can also increase our relevancy
with consumers and credibility with healthcare professionals.

31

Maintain healthy practice

Healthy Practice is about how we achieve results, which is as important as
the results themselves. In line with our Kenvue Values, we are committed

Healthy practice goals & commitments

to building trust through science with our consumers, customers, andpartners by holding ourselves to the highest ethical standards in everythingthat we do. We operate with openness, maintain business and workplace
integrity, and contribute to the well-being of the communities in which

Sustainable product innovation
75% of new product development,26 using scientific principles,27 will have an
improved environmental performance28 by 203017

we operate.
At Kenvue, we believe human rights, which are the fundamental rights,
freedoms, and standards of treatment belonging to all human beings,
must be respected and that business, in addition to government, has animportant role in ensuring those rights.

Sustainableproduct innovation
Science-backed innovation and scientific insights are core to our
product development process and enable us to successfully introduce
new products that meet the dynamic and diverse health and well-being
needs of the global consumer marketplace. With the use of new robust
measurement tools, we aim to manage the impacts of our products acrossour global value chain and throughout the lifecycle of our products. We

We will advance sustainable product design by:· Deploying our new SIP tool to evaluate and improve theenvironmental footprint of our products.

· Creating Brand Sustainability roadmaps to identify hotspots

and equip brands to act on their sustainability priorities.

· Developing and training teams on sustainable productclaims requirements.

· Establishing governance mechanisms to ensure that the

SIP tool is embedded in the new product and lifecycle stagegate development processes.

· Tracking and reporting on progress.
· Collaborating in industry programs that aim to advance productsustainability and standardize measurement approaches.

will measure progress toward our Sustainable Product Innovation goal

As we deploy the tools and training to progress this work, we plan towithin the Healthy Practices pillar. A new internal Kenvue assessment

programmatically assess design decisions, enhance product and ingredienttool, Sustainable Innovation Profiler (SIP), will assess how new products

resiliency, enable transparency, identify levers to decarbonize our products,

deliver against our HLM commitments, seeking to future-proof products byand optimize the overall environmental profile of our products.

promoting the adoption of sustainable ingredients and packaging materials.

Sustainable design & development
Sustainable products require intentional design. We are committed
to improving the environmental performance of our new productdevelopment—including improvements to existing products, extensionsof current product lines, and new-to-market products—using scientificdesign principles.

Document footnotes32Maintain healthy practice

What gets measured

following categories: product formulations that are free of dangerous

Neutrogena® Hydro Boost Hyaluronic Acid Water Gel offers a refillable

Our Kenvue team has evolved our patented Global Aquatic Ingredientchemicals, commitments to reduce animal testing, and the product's

pod which fits perfectly in our Neutrogena® Hydro Boost Hyaluronic

Assessment™ (GAIA) to encompass holistic sustainability criteria. Our

impact on health and the environment.

Acid Water Gel jar and reduces plastic waste by 89% vs. buying a new

SIP tool follows International Organization of Standardization methods
for lifecycle assessments and:· Aligns with the European Commission’s Product Environmental

Footprint and EcoBeautyScore (EBS).

· Enables us to understand distribution of impact across product lifecycle.
· Identifies opportunities to reduce the carbon footprint of products

and packaging without shifting the burden to other environmental
impact factors.

· Implements an internal methodology to measure the resiliency of

a formulation to a dynamic external environment.

· Calculates a formulation’s GAIA score with a focus on ingredientenvironmental persistence.

· Flags ingredients on our restricted substances list (RSL) andemerging substances of concern.

Le Petit Marseillais® has been certified by COSMOS eco-certificationfor organic and natural cosmetics. All the products marketed with the
Ecocert logo, issued by COSMOS, have been verified from composition
to processing and packaging. With 30 years of experience in the auditing
and certification of organic products in France and in over 130 othercountries, Ecocert provides consumers with transparent information on
product ingredients.
Breakthrough products with less waste
Neutrogena® Gentle Foaming Cleanser is made of only seven ingredientsand is free from fragrances, parabens, phthalates, alcohols, mineraloil, and soap. Just take one powder concentrate and add tap water tocreate a full-sized, luxurious foam cleanser. The reusable bottle andpump weigh 94% less than our other full-size cleansers.

jar each time.

Product stewardship
Our foundational commitment to providing effective, compliant, andsafe consumer products is underpinned by our product stewardship andsocial responsibilities. Our aim is to make decisions that will be right forour consumers and for the planet.
Our internal Kenvue ingredient and materials policy ensures we carefully
select ingredients, materials, and product packaging components. We
continuously monitor emerging science, regulations on the horizon, andsustainability requirements to meet shifting consumer and customer
expectations. By combining our robust ingredient policy with greatertransparency, we will continue to build trust in our brands and products.

· Encourages use of ingredients and packaging materials fromrenewable sources.

In addition to formulation optimization, the SIP tool will also enable our
packaging engineers to make more informed decisions on packaging
materials that are aligned with the Ellen MacArthur Foundation’s
principles for recyclability and reducing the use of virgin plastics.
In 2023, we trained a superuser community and began piloting our SIP
tool, assessing key product archetypes to identify our hot spots andareas for improvement.
Meeting rigorous eco standards
Johnson’s® Baby and Aveeno® Baby products have been certified by UL
ECOLOGO® for reduced environmental impact. UL ECOLOGO® certified
products are verified for reduced environmental impact and theirstandards set metrics for a wide variety of criteria in some or all the33

Maintain healthy practice

Product transparency

Healthy practice goals & commitments

Transparency is the bedrock of trust for most consumers, who
increasingly want to know more about the products they and theirfamilies consume and use, from food and beverages to personal careproducts to OTC medicines. According to 2021’s SmartLabel Consumer

Product transparency
Provide greater product transparency, beginning with our ingredients

Insights Survey, 79% of consumers agree that they are more loyal tobrands that provide more in-depth information about products beyond
what they can find on the label.43 Product transparency at Kenvue aims
to provide consumers with a deeper understanding of our products,
with the intention of engaging and empowering them to make the best
choices for themselves and their loved ones. By providing compelling,easily understood, and readily accessible information on the benefit
and function of specific ingredients, certifications, fragrances, source
material origins, type of packaging materials used, and recyclability,
our brands strive to deliver the transparency consumers have come to
expect. Leveraging digital platforms and technologies to expand productinformation, our brands are embracing sustainability and reflecting
evolving consumer values in line with ‘modern mandatories’.

Building trust through transparency
Kenvue is a member of the EBS Consortium, an international, voluntary

Similar to our SIP tool, EBS considers 16 environmental impacts, including
carbon, water scarcity and water pollution. The aggregated product scoreof these environmental impacts enables consumers to compare products
within a category to make informed purchasing decisions. In addition toestablishing a common system for environmental impact assessments ofcosmetic products, EBS will also provide a common scoring mechanismand harmonized consumer-facing communications scheme.
Neutrogena® Glossary of Ingredients
The Neutrogena® Glossary of Ingredients presents another avenue for
Kenvue to give consumers visibility into how we formulate our products.
Through a dedicated website, consumers can read simple definitions of
the ingredients found in Neutrogena® products, offering them the facts
they need to make informed decisions for their skin health.

initiative of more than 70 cosmetic industry stakeholders, which aims

Johnson’s® Baby product transparency

to develop an environmental impact assessment and scoring system

Johnson’s® Baby website is another example of our commitment tofor cosmetic products. The Consortium was created to enable consumers

full product transparency. In developing the site, we focused on what

to make more informed and sustainable choices about the products

parents wanted and needed, leveraging iterative, dynamic consumer

they use and address growing expectations from stakeholders for

feedback to guide our decisions.

enhanced transparency.

Johnson’s® Baby piloted a digital transparency tool and enabled us

We have actively engaged in the design and development of the EBS

to learn more about consumer interests and behaviors in a digital

environmental assessment and scoring system for cosmetic products.

communications ecosystem. As a result of the website, consumer research

The system follows internationally accepted guidelines for conducting

showed a significant increase across all key brand metrics and attributes

standardized lifecycle assessments from cradle to grave for the entire

including sentiment, credibility, fit, authenticity, honesty, and sustainability.

product and assesses the impacts of both raw and packaging materials.

Document footnotes34Maintain healthy practice

Product quality & safety

and local government regulations, industry standards, and our internal

Our commitment to quality, safety, and compliance is fundamental to

our raw material suppliers and contract manufacturers and aim to only

Kenvue. In addition to complying with applicable regulations around thework with vendors that meet our safety and quality standards.

world, our aim is to meet the high expectations of our customers, andconsumers, earning their trust by developing high-quality, innovative
products that are safe, efficacious, and widely accessible. By focusing
on quality and safety throughout a product's lifecycle, from the earlystages of research and development, delivery to customers throughproduct use, and to the product's end of life, we strive to meet ourpolicies. In addition, our sourcing and quality assessment teams assess

Product development
Beyond design, our products also undergo further development and testing,which helps ensure ingredients are used in the right proportions and any
potential issues are addressed before formula finalization. Laboratorysimulated and home-use tests are also used in the development process to

responsibility to put people first.

also assess the product experience with actual users.

We strive to achieve end-to-end quality excellence and safety across all

Qualification & testingstages of a product lifecycle through our quality and safety

Appropriate controls are in place to ensure the final product meetsmanagement approach. More information about our position on quality,

its intended specifications. These controls aim to enable consistency

safety, and compliance can be found here.

and include things like the qualification of equipment and instruments
used to manufacture products, validation of processes, and in-process

Product quality & safety processmonitoring to ensure performance meets expectations. Additionally,

Quality & safety risk management

testing requirements for each product are in place to provide effective

Risk management requirements are part of our Kenvue Quality System
Principles. They require that quality and safety risks throughout the
product lifecycle be identified, assessed, mitigated, and minimized. We
are committed to monitoring the safety and quality of our products andhave systems and risk-minimization strategies in place.

upstream measures.
Upholding global standards
The safety of our consumers and people overall is our first and greatest
responsibility. Technical teams conduct safety evaluations on our
products before we bring them to the marketplace to ensure they

To achieve the product quality and safety expected by our consumers andcomply with applicable regulatory requirements wherever we do

required by international standards, we aim to adhere to this process:business. We work with regulatory agencies worldwide, including but not

Product design
We endeavor to build quality and safety into our products from the very
start. Our product design informs the ingredients we use and involves
input from our scientific and medical experts to ensure the final
product will meet our global standards.
Ingredient selection
All ingredients are carefully selected and tested and must pass safety

limited to, the U.S. Food and Drug Administration (FDA), the European
Medicines Agency, the World Health Organization, and Health Canada,
to ensure our products meet the highest standards of safety.

We strive to achieve end-to-end
quality excellence and safety acrossall stages of the product lifecycleand quality requirements. Our objective is to ensure that the quality,
purity, and manufacturing of our products meet international, national,

35

Maintain healthy practicethe effectiveness of our quality systems. Kenvue representatives
and third parties perform audits of company suppliers and external
manufacturers to evaluate compliance with our quality agreements andthe regulations under which they operate. We monitor product safety
information and provide timely reporting of relevant information toauthorities in accordance with regulations.
In addition to our monitoring programs, product quality and safety
oversight is maintained through appropriate governance. Our safety andquality management system (QMS) requires Kenvue management toreview the quality and safety system performance, and to provide
oversight for improvements where necessary.
The ISO 9000 family consists of the world's best-known standard for
QMS, including ISO 9001, along with a set of supporting standards
on quality management, all published by ISO/TC 176 and its
subcommittees. Five of our sites have individual ISO 9001 certifications
including Pomezia, Italy; Eastern Cape, South Africa; Bangkok, Thailand;
Beijing, China; and Sézanne, France.

Position on animal testing
As a global consumer health company, Kenvue has a broad portfolioof everyday care brands that our consumers rely on to meet their daily
health and well-being needs. Above all, safety is our top priority in thedevelopment and testing of our diverse and innovative products. We
understand that animal testing is a concern of vital importance to many,

Quality compliance monitoring
Our Kenvue team has established an independent audit approach

and we work to minimize the use of animals while also complying withspecific and varied regulations around the world.

to ensure our facilities and external manufacturing sites operate in

We do not conduct animal testing in the research or development of ourcompliance with our requirements, as well as global and local healthcosmetic products unless required to do so to meet regulatory

authority requirements. Our Quality Audit Program applies to all Kenvue

requirements. We believe our cosmetic products can be validated as

facilities that develop, manufacture, store, or distribute products. It also

safe and effective without compromising animal welfare and haveapplies to suppliers and external manufacturers that provide materials,

voluntarily made the conscious choice to only advance cosmetic productproducts, and services to Kenvue. Through this Quality Audit Program,innovation that meets our own safety requirements without the need for

we continuously monitor, assess, and identify opportunities to improveanimal testing.

36

Maintain healthy practiceSome countries still require animal testing data to meet their own
regulatory requirements for cosmetic products. As part of our ongoingcommitment over the last 30 years, we continue to advance and seek
the validation of non-animal testing methods and support efforts toeliminate the testing of cosmetic products or ingredients on animals
globally, including appropriate legislative bans.
When it comes to medicines, medical devices and other regulated
health products, animal testing is more routinely required by regulatory
authorities to demonstrate safety and/or to validate efficacy for
regulatory purposes.
We prioritize the use of non-animal testing methods, including in vitro
and computer modeling. Our internal Kenvue Scientific Committee
reviews and approves all instances of animal testing where Kenvue isrequired to do so to meet regulatory requirements.
When tests on animals are required, we only work with reputablepartners who adhere to strict animal welfare standards on care,welfare, and treatment. We are committed to the ethical treatmentof animals used in audited, accredited external laboratories following
best practices for animal care.
Counterfeit
At Kenvue, our Global Brand Protection team works to safeguard
the everyday care rituals of people around the world from the risksof counterfeit, diversion, and product tampering. Consistent with our
Values of putting people first, our focus is on the protection of our end
consumer. The illegal counterfeiting of our products is antithetical to
our Values, and we take such matters seriously.
We regularly conduct thorough investigations and partner withappropriate legal and regulatory authorities to take action whencounterfeit products come to our attention. Counterfeit goods may
contain unsafe ingredients and may have environmental repercussions
and human rights violations associated with their production, which is
why Kenvue takes measures to address illegal counterfeit goods.

37

Maintain healthy practice

Human rights andethical supply chain
At Kenvue, we believe that human rights, which are the fundamental
rights, freedoms, and standards of treatment belonging to all humanbeings, must be respected and that business, in addition to government,
has an important role in ensuring those rights. This includes:· Respecting the dignity of fair and safe work.
· Following the principles of internationally recognized humanrights standards, including the International Bill of Human Rights,
the International Labour Party Organization’s Declaration on
Fundamental Principles and Rights at Work, and the U.N. Guiding
Principles on Business and Human Rights.
· Doing our due diligence through policies, processes, training, andmanagement systems to identify and address human rightsrelated risks.
Working with trade associations and industry coalitions, we believe wecan promote the respect of human rights and encourage and support
our suppliers and other business partners in their efforts to meetinternationally recognized human rights standards.

We have high standards for how
people should be treated, and we
expect the same from the companies
we do business with around the world
Enterprise-wide human rights impact assessment
At the end of 2023, Kenvue initiated an enterprise-wide human rights
impact assessment. As part of this effort, we recognize that we must
conduct appropriate due diligence to ensure we are protecting the rights
of individuals around the world in our value chain. This work will help
us understand the potential adverse effects of our business activities
on the human rights of rights-holders such as workers and community
members. Ultimately, this Human Rights Impact Assessment will help
us identify, assess, and address salient human rights impacts andinform our overall strategy.
Business for Social Responsibility (BSR)
Human Rights Working Group
Kenvue is a member of BSR's Human Rights Working Group, acollaborative initiative that supports companies across industries
in implementing the U.N. Guiding Principles on Business and Human

We have high standards for how people should be treated, and we expect

Rights. The Working Group provides a forum to highlight emerging humanthe same from the companies we do business with around the world.

rights topics and opportunities for companies to share best practices that

Our commitment to respecting and promoting human rights applies

inform our approach to human rights due diligence. We also leverage ourto Kenvue locations, operating companies, and business operations

engagement in this group to access the tools, frameworks and resources

worldwide. We recognize that human rights due diligence is a continuousthat help us advance our human rights practice.

process, and we have policies, processes, training, and management
systems in place to identify and address human rights-related risks.
In our commitment to the dignity of fair and safe work, and aligned withmodern slavery disclosure regulations in Australia, California, Canada,
Norway and the United Kingdom, Kenvue publishes a Global Modern
Slavery Statement outlining the steps we take to identify, assess,address, and prevent modern slavery and human trafficking in ouroperations and supply chain.

38

Maintain healthy practiceKenvue Supplier Code of Conduct

Healthy people

We are committed to working with those who align with and reflect Our

We expect our suppliers to uphold the same high standards for the

Values and principles, support our HLM and uphold high standards forprotection of human rights. Our due diligence processes include

responsible sourcing and corporate citizenship. In line with our Values,

assessing and managing human rights risks across our supplier

we are committed to doing business with suppliers who uphold thebase, and monitoring supplier compliance with labor, employment,same high standards of integrity, ethics, and responsible businessenvironmental, and business ethics standards. In support of thesepractices that we do, including complying with applicable laws andstandards and protocols, we may ask suppliers to share relevant

regulations, in the countries in which we, and our suppliers, operate.

information to comply with our own legal and regulatory obligations.

We apply the Kenvue Supplier Code of Conduct as part of our HLM and

Healthy planet

our commitment to protecting human rights.

We are committed to continuously improving our sustainability efforts
through our brands, products, packaging, and operations, and deliveringon current requirements that reflect the values of today’s consumers,
and we know that we cannot achieve this without the partnershipof our suppliers. Accordingly, suppliers are expected to operate in asustainable and environmentally responsible manner, as set forth in theprinciples below, including continually working to reduce and mitigate theenvironmental impacts of their operations, including the decarbonization of
their own value chains, aligned with our Scope 3 goals.
Healthy practice
We are committed to building trust with our stakeholders by holding
ourselves accountable to high ethical standards. Our Values of putting
people first and earning the trust of our customers and consumers
extend to our suppliers, who are expected to uphold fair businesspractices, to act in full compliance with applicable laws and regulations,and to meet our Company’s requirements as set out below.
AIM-Progress
Kenvue is a member of AIM-Progress, a global forum of leading fast
moving consumer goods companies and common suppliers sponsored by
the Association des Industries de Marque (AIM), the European Brands
Association. The purpose of AIM-Progress is to promote responsible supply
chain and sourcing practices covering labor and human rights, capabilitybuilding, and mutual recognition of social compliance audits.

39

Maintain healthy practiceSupplier risk assessments, audit, &environmental performance, and business ethics. We select suppliers forcompliance programsocial audits based on an overall risk assessment using EcoVadis labor andWe maintain controls to uphold human rights and minimize ourenvironmental impacts throughout our supply chain. We verify supplier
ESG performance through a comprehensive approach that leverages
both internal subject matter experts as well as external organizations
such as EcoVadis, a third-party provider that helps identify supplierenvironmental and social compliance risk, assess, and understandsupplier performance, and coordinate and track supplier improvement
plans. In some cases, we may require an audit of new supplierbusiness ethics scores and considering geographic and industry risk.
ESG audit & compliance program
Kenvue maintains global operations and works with a vast supplier base.
We manage a highly complex network of supplier relationships that are
critical to business success. We must maintain a rigorous system ofsupplier selection, engagement, education, assessment, and auditing toensure supply base integrity and meet stakeholder requirements.

candidates before awarding business, depending on that candidate’s

We recognize that to create impact at scale, we must continue torisk profile. Our program includes two main forms of supplier audits:

move beyond monitoring compliance to proactively engaging with ourEHS audits and ESG audits.

suppliers and supporting wider industry efforts to improve transparency

EHS audits
We leverage the audit protocol based on our “Responsible External
Supply Chain” EHS Standard and in some cases using the standard
developed by the Pharmaceutical Supply Chain Initiative (PSCI) to
conduct EHS audits of our high-priority suppliers. Most of our supplier
EHS audits are conducted by our EHS team, leveraging our internal EHS
expertise and on-the-ground presence in various geographic regions. In
some cases, third-party firms conduct EHS audits on behalf of Kenvue
or Kenvue utilizes PSCI Audit reports shared by suppliers. We selectsuppliers for EHS audits during our due diligence process and basedon an overall risk assessment using factors including EcoVadis scores,
types of goods and services provided, and geographical location. In
2023, 55 EHS audits were completed including EHS audits conductedduring supplier due diligence.
ESG audits
ESG audits are conducted according to the SEDEX Members Ethical
Trade Audit (SMETA) 4-pillar guidelines by an accredited external firmon behalf of Kenvue. A SMETA 4-pillar audit includes an assessment oflabor standards, health and safety, management systems, human rights,
recruitment, entitlement to work, subcontracting and homeworking,and share best practices. To this end, we are currently enhancing our
Sustainable Sourcing Program, which will help us strategically engage
with our suppliers to advance the management of ESG impacts andopportunities throughout our supply base.

We manage a highly complex networkof supplier relationships that are
critical to business successIn addition to monitoring for compliance, we assess and categorize
supplier non-conformance. We communicate findings and share our
expectations with the audited supplier for a documented plan of timebound corrective actions and demonstrated improvement. When criticalfindings are identified during an audit, we expect timely action toaddress the issue. We aim to maintain long-term, strategic relationships
with suppliers and prefer to work with them to resolve audit findings
and drive continuous improvements in standards. If significant nonconformance with our standards cannot be sufficiently resolved, we may
withdraw business from that supplier or decline to start business with apotential new supplier candidate.

40

Maintain healthy practice

We provide the following forms of support for post-audit
supplier improvement:· Follow-up technical visits that include expert training and bestpractice sharing.

· Business reviews with direct coaching and guidance.
· Supplier conferences, webinars and other resources.

Collaborating within the industry to raise the bar for all, we actively
participate in industry forums and workshops on supply chain issues
that aim to advance supply chain sustainability, human rights, andtransparency by addressing systemic issues that no one company cansolve alone.

Ethics & compliance
Our success as Kenvue is based on each employee, regardless oflocation or position, living Our Purpose. Everyday care is the Kenvue
North Star, guiding how we treat our people, innovate, conduct business,and deploy our products.

Employee Code of Conduct
Our Values are instilled through the Kenvue Code of Conduct. This
foundational document sets forth the principles and policies to which wecommit ourselves every day. Our commitment to doing the right thing
and upholding these expectations guides our success and strengthens
our reputation.
The Code of Conduct applies to all Kenvuers as well as consultants
and third-party contractors engaged by Kenvue to act on our behalf,
regardless of where we work or the type of work we do, providing clear
expectations of ethical business conduct and behavior. As a good global
citizen, we seek to comply with the laws and regulations of the countries
in which we operate. Every company representative is expected to know,
understand, and act in accordance with the Code of Conduct, company
policies, and the laws that govern our activities.
Code of Conduct training
To familiarize all Kenvuers with the Code of Conduct, we created interactive
training courses in nine languages to reinforce Our Purpose to realize theextraordinary power of everyday care with our customers, consumers, andfellow Kenvuers. For people without access to computers, including in our
manufacturing sites, we held instructor-led training classes with offline
materials. In 2023, 97% of non-manufacturing team members completed
the Code of Conduct training.
In line with our Values, we are committed to building trust with ourconsumers, customers, and business partners by holding ourselves
accountable to the highest ethical standards in everything that we do.
It is not only the right thing to do, but it is critical to ensure our long-term
success as a company.

41

Maintain healthy practiceKenvue Integrity LineTax policy

At Kenvue, we believe acting ethically is everyone’s responsibility. The

Our Company’s tax policy statement sets forth the guiding principles for

Kenvue Integrity Line is managed by a third-party – NAVEX – to offer agovernance of tax matters, compliance, planning, and relationships withconfidential method to report concerns. Anonymous reports are allowed,

government authorities and other stakeholders. Approved by the Audit

where local law permits. We value input and encourage use of this system

Committee of our Board, this policy applies to all Kenvue subsidiaries

to report any issues or concerns, or to submit any confidential questions.

and employees.

Kenvue will not tolerate threats or acts of retaliation against individuals

Compliance, controls and governance

who, in good faith, provide information regarding actual or potential
misconduct in connection with reports of actual or potential misconduct.
Speak up policy
Kenvue encourages open and candid discussions and grants all teammembers free and unfettered access to ask questions and report

All Kenvue income, property and indirect taxes are overseen by our
Global Head of Tax, who reports to the Chief Financial Officer. Tax
affairs are managed by a global network of qualified and trained tax
professionals, supported by professional services firms, who work
closely with our business.

concerns. In keeping with this commitment, the Kenvue Speak up policy

We ensure oversight and governance of tax matters through rigorousand procedure offers guidance to Kenvuers about the responsibility

internal review and approval procedures by the appropriate members

to “speak up” and the process for doing so whenever anyone becomesof our tax leadership and Global Audit and Assurance, with oversight byaware of potential misconduct.

the Audit Committee of the Board.

Kenvue encourages open andcandid discussions

Tax planning and risk
Our global tax organization partners with our business leaders toprovide tax planning that aligns with our business operations, enhances
value and manages tax risks. Our tax planning is informed and driven by

The timely reporting of breaches or deviations from Kenvue policies

how our business operates and grows and we do not create tax havenor applicable legislation helps us to reinforce our compliance culture

resident entities for use in our operations.

and protect the Company from legal or reputational risks. Making
a commitment to report these situations is part of our culture ofTransparency and our relationship with external stakeholders

transparency, commitment, and empowerment.

We value transparency and cooperation with tax authorities and are

Reporting channels are extensive, including the Integrity Line, one’s

we operate in a professional, courteous, honest, and collaborative

supervisor, the areas of Legal & Compliance, Global Audit & Assurance,
the Triage Committee, and other resources. Examples of issues that
one might report include corruption or bribery, violations of the Codeof Conduct, or situations that put the Company at reputational risk,
among others.

committed to engaging with the tax authorities in all countries in whichmanner regarding all tax matters. In the event a tax authority disagrees
with our views on the appropriate tax treatment of a given item, we work
constructively to try to resolve the issue timely through appropriate
methods of dispute resolution. We seek to be a valued partner togovernments and advocate for tax legislation that provides clarity,
fairness, and encourages innovation and growth.

42Appendix

Document footnotes
1

Results for the fiscal twelve months ended December 31, 2023, as reported in Kenvue’s Annual
Report on Form 10-K released on March 1, 2024.

2

Employees are defined as individuals working full-time or part-time, excluding fixed-term
employees, interns, and co-op employees. Contingent workers, contractors, subcontractors, andindividuals on long-term disability are also excluded.

3
4

All management levels include manager, director, vice president and above.
Asian, Black/African American, Hispanic/Latino, Other Ethnic Racial Diversity; 2+ more races,
NH/PI, AI/AN (Native Hawaiian or Pacific Islander, American Indian or Alaska Native). Workforce
composition metrics are derived from data collected in connection with EEO-1 reporting.

5

Kenvue-owned facilities used for manufacturing, where Kenvue has operational control.

6Inclusion index is scored as % favorable responses using the 5 pt Likert scale of “Strongly Agree– Agree – Neither Agree nor Disagree-Disagree-Strongly Disagree” across 12 questions: Senior
Leadership is committed to building a diverse workforce; Senior Leadership champions an
inclusive work environment where each employee is considered an individual; Sufficient effort
is made to get the opinions and thinking of people who work here; There is equal opportunity
for people to have a successful career at Kenvue, regardless of their differences or background;
Diverse perspectives are valued at Kenvue; In my workgroup, it feels safe to take social risks(e.g. suggesting ideas, asking questions, making mistakes); I trust my people leader; My people
leader holds people accountable for demonstrating inclusive behaviors (e.g. ensuring all voices
are heard, being respectful); My people leader values team members’ perspectives even whenthose perspectives are different from their own; I believe diversity and inclusion are important for
Kenvue’s success; I am treated with respect at work; I feel like I belong at Kenvue.

7

8

The methodology to calculate product donations was a combination of Fair Market Value (FMV),
list price, and/or retail recommended value.

15

greenhouse gas emissions. Scope 2 are GHG emissions that Kenvue indirectly generates – fromelectricity or energy purchased for heating and cooling buildings.
The inventory was compiled in accordance with the World Resources Institute (WRI)/World Business Council for Sustainable Development(WBCSD) (GHG) Protocol – A
Corporate Accounting and Reporting Standard (Revised Edition 2013) including theamendment to this protocol, GHG Protocol Scope 2 Guidance (2015).

10

The target boundary includes land-related emissions and removals from bioenergy feedstocks.

11

Virgin plastic means newly manufactured resin produced from petrochemical feedstock usedas the raw material for the manufacture of plastic products and which has never been used orprocessed before.

12

Certification schemes accepted by Kenvue include FSC® or PEFC chain of custody standard, only
when FSC® is not available.

13

Recycled includes both post-consumer and post-industrial recycled content; Verification ofrecycled content is conducted by an external third-party (for example, Preferred by Nature). The
information provided herein includes data from suppliers. While we strive to ensure the accuracy
and completeness of this data, we recognize there may be limitations to its accuracy orcomprehensiveness.

Renewable energy source is an energy source that is capable of being replenished in a short timethrough ecological cycles or agricultural processes (e.g., biomass, geothermal, hydro, solar, wind).
Renewable electricity targets are achieved through a combination of actions, including on-site
solar, virtual power purchase agreements (VPPAs), direct power purchase agreements (PPAs),
energy attribute certificates (EACs), also known as renewable electricity certificates (RECs), andgreen retail contracts.

16

All Kenvuers irrespective of gender, race, ethnicity, or any other characteristic protected by law.

17

We aim to meet the goal by end of fiscal year and publish the year after.

18

According to SBTi Net-Zero Standard, long-term targets must have a target year of 2050 orsooner.

19

20

21

22

23

31

Source: https://www.cdc.gov/oralhealth/oral_health_disparities/index.htm

32

C1 includes emissions from all upstream impacts (cradle to gate) from Kenvue's supply chain
related to goods (such as external manufacturing, chemicals, packaging) and services(media, marketing, research services). This also includes Forest, Land, and Agriculture(FLAG) emissions from cotton, palm oil, and timber. Emissions were calculated using company
spend in the report year paired with appropriate economic input/out (IO) emissions factor the
Supply Chain Greenhouse Gas Emissions Factors v1.2 NAICS-6.

33

C4 includes emissions from air, rail, road, and marine transportation, and storage of products
produced in the reporting year. This can be between an organization’s tier 1 suppliers and its
own operations, or for all inbound or outbound logistics purchased by the reporting organizationfrom a third-party. Reporting includes all inbound and outbound third-party logistics andwarehousing paid for by Kenvue.

34

Source: https://www.worldwildlife.org/threats/deforestation

35

Forest Stewardship Council (FSC®) certified paper/wood fiber is made from responsibly sourced
wood fiber.

36

Programme of the Endorsement of Forest Certification (PEFC) certified paper/wood fiber,
including Sustainable Forestry Initiative (SFI) is made from responsibly sourced wood fiber.

37

Source: https://ipad.fas.usda.gov/cropexplorer/cropview/commodityView.
aspx?cropid=4243000&sel_year=2021&rankby=Production

38

Identity preserved is from a single identifiable certified source that is kept separately fromordinary palm oil throughout the supply chain.

39

Segregated is from different certified sources that is kept separate from ordinary palm oil
throughout the supply chain.

40

Mass balance is from certified sources that are mixed with ordinary palm oil throughout the supply
chain.

41

Manufacturers and retailers can buy RSPO Credits and RSPO Independent Smallholder Credits
from RSPO-certified growers, crushers, and independent smallholders. By purchasing RSPO
Credits, buyers encourage the production of Certified Sustainable Palm Oil. https://rspo.org/asan-organisation/rspo-credits/

42

Source: Environmental safety aspects of personal care products—A European perspective - Tolls 2009 - Environmental Toxicology and Chemistry - Wiley Online Library

43

Source: SmartLabel Consumer Insights Survey, July 2021

Inventory and reporting are aligned with RE100 technical criteria and supplemented
by CDP.

Applies to all Kenvue-owned facilities where Kenvue has operational control, regardless of building
type; all leased facilities used for manufacturing and/or research and development; and leased,
non-manufacturing and/or non-research and development facilities where the facility is greaterthan 50,000 square feet and where Kenvue has operational control. The 2020 baseline and all
subsequent reporting years include all facilities aligned to Kenvue’s structure upon separationfrom Johnson & Johnson in 2023 and do not include any operational or organizational exclusions.
Scope 1 are greenhouse gas (GHG) emissions that Kenvue directly generates – e.g., running boilers
and vehicles using fossil fuels. Fleet emissions are reported as CO2 and do not include other9

14

Recyclable, also defined as recycle-ready, is when packaging is designed for collection, sorting,and recycling using end-of-life processes, but where collection, sorting, and recycling
infrastructure may not yet be in place for the packaging to actually be recycled. Best practices of"designing for recyclability" guidance for plastic-based packaging include the Association of
Plastics Recyclers in the United States. Note: "Designed for recycling," "designed for recyclability,"and "recycle ready" are also used interchangeably and reflect the same meaning.
Kenvue defines refillable or reusable packaging as packaging that is designed for either thebusiness or the consumer to put the same type of purchased product back into the original
packaging, is designed to be returnable and/or refillable, and accomplishes a minimum number ofreuses by being part of a system that enables reuse.
Packaging for direct purchases, may not include all externally manufactured products. Total weight ofplastic packaging is calculated utilizing 2024 Business Plan volume and is not trued up to actual sales.
Manual adjustments of <10% were made to 2024 Business Plan volume based on SME judgment toremove materials not assumed to contain plastics.
Low-risk source is defined as material that is either: 1) Forest Stewardship Council (FSC®) or
Programme for the Endorsement of Forest Certification (PEFC) certified, 2) post-consumer
recycled content, 3) traced back to country of harvest and assigned a low-risk categorization
at country level using Preferred by Nature's Timber Sourcing Hub, or 4) demonstrates otherapproved methods of verifying low risk.
Volumes include direct purchases of primary and secondary packaging and leaflets. Volumes do
not include the packaging materials sourced in some externally manufactured products.

24

Includes palm oil-based ingredients directly procured by Kenvue; does not include palm oil-based
ingredients in some externally manufactured products.

25

Physical supply chain refers to palm oil supply that is sourced from certified plantations under
the Mass Balance, Segregated, or Identity Preserved certifications. More information on RSPOcertified supply chains can be found here: https://rspo.org/as-an-organisation/certification/
supply-chains/.

26

New product development includes improvement of existing products, or new products in eachcalendar year.

27

Scientific principles are defined across four pillars – carbon footprint, green chemistry, sustainable
packaging, and product environmental footprint.

28

Improved environmental performance is defined as improvement in one or more of the four pillars,with no regression compared to the baseline product, measured using Kenvue’s Sustainable
Innovation Profiler (SIP).

29

Source: Global Humanitarian Overview 2023 [EN/AR/ES/FR] - World | ReliefWeb

30

Source: https://jada.ada.org/article/S0002-8177(22)00733-4/fulltext?dgcid=PromoSpots_
ADAorg_ADANews_FebruaryJADA

43

Appendix

CAUTIONARY NOTE ONFORWARD-LOOKING STATEMENTS
This report contains “forward-looking statements” as defined in the
Private Securities Litigation Reform Act of 1995, including forward-looking
statements related to the Healthy Lives Mission and its related goals andcommitments. Forward-looking statements may be identified by the useof words such as “plans,” “expects,” “will,” “anticipates,” “estimates,” andother words of similar meaning. The reader is cautioned not to rely onthese forward-looking statements. These statements are based on current
expectations of future events. If underlying assumptions prove inaccurate
or known or unknown risks or uncertainties materialize, actual results
could vary materially from the expectations and projections of Kenvue
Inc. and our affiliates. A list and descriptions of risks, uncertainties, andother factors can be found in our filings with the Securities and Exchange
Commission (SEC), including the Kenvue Annual Report on Form 10-K
for the fiscal year ended December 31, 2023, and subsequent Quarterly
Reports on Form 10-Q and other filings, available at www.kenvue.com oron request from Kenvue. Kenvue and our affiliates undertake no obligation
to update any forward-looking statements, whether as a result of new
information, future events or developments or otherwise.

44

Appendix

Alignment with UN Sustainable Development Goals
Kenvue recognizes the importance of the United Nations 2030 Agenda for Sustainable Development and the UN Sustainable
Development Goals (SDGs) which require broad participation and the leadership of government, civil society and businessto address the most significant and urgent challenges facing our world. Kenvue has ESG priorities and strategies that arealigned with several of the UN SDGs as highlighted below.

Nurture healthy people

Enrich a healthy planet

Maintain healthy practice

Fostering an inclusive, equitable and diverse workplace

Taking action on climate change

Designing for sustainable product innovation

Ensuring workforce health, safety and well-being

Reducing plastic waste

Providing product transparency

Advancing community health and well-being

Protecting biodiversity, land and forests

Respecting human rights

Our partnerships and collaborations with third parties enable us to build capabilities and advance our Healthy Lives Mission. This includes our trade associations, other membership organizations , our suppliers, customers, nongovernmental organizations/civil society, multi-lateral organizations and other voluntary coalitions.

45

Appendix

Healthy people

Employee engagement

Figures for Healthy People tables cover our global workforce including

Total employees1 by regions*2023

Employee Engagement, Engage Survey

2023

North America (NA)25%

Number of languages available

17

Europe, Middle East, Egypt, and Africa (EMEA)

28%

Number of countries administered

59

Latin America (LATAM)

18%

Response rate (among all active employees)192%

Asia and Pacific (APAC)

29%

Engagement Score2

81%

Inclusion Index Score3

85%

manufacturing workers and temporary and seasonal employees forthe year ending, December 31, unless otherwise specified.

Workforce composition
Global workforce1,*

2023

Total number of employees2~22,000% of workforce that are manufacturing3 employees2% of workforce that are part-time4 employees2

24%

The data covers our global workforce including manufacturing workers and temporary and seasonal employees.

2

Employees are defined as individuals working full-time or part-time, excluding fixed-term employees, interns, and co-op employees.
Contingent workers, contractors, subcontractors, and individuals on long-term disability are also excluded.

3

Manufacturing employees are defined as non-supervisory personnel, who are engaged in functions such as production, production
maintenance, quality control inspections, materials management distribution, and warehousing.

4

Part-time employees are defined in the US as employees currently on the payroll who have a continual and regularly scheduled
workweek of 20 hours or more, but less than 35 hours. Non-US employees report following each country’s regulations regarding
temporary part-time status.

*

Data has been assured by ERM-CVS.

Women

Employees are defined as individuals working full-time or part-time, excluding fixed-term employees, interns, and co-op employees.
Contingent workers, contractors, subcontractors, and individuals on long-term disability are also excluded.

*

Data has been assured by ERM-CVS.

1%

1

Employees1 by gender in %*1

Employees1 by age in %*

2023

Men

50%

Undeclared

0%1

Employees are defined as individuals working full-time or part-time, excluding fixed-term employees, interns, and co-op employees.
Contingent workers, contractors, subcontractors, and individuals on long-term disability are also excluded.

*

Data has been assured by ERM-CVS.

Full-time team members who have been at Kenvue more than 90 days were invited to participate.

2

Engagement Score is calculated as % favorable responses using the 5-point Likert scale of “Strongly Agree – Agree – Neither Agreenor Disagree-Disagree-Strongly Disagree” across all 64 questions included in the Engage Survey, grouped together under Overall
Favorability category.

3

Inclusion index is scored as % favorable responses using the 5 pt Likert scale of “Strongly Agree – Agree – Neither Agree nor DisagreeDisagree-Strongly Disagree” across 12 questions: Senior Leadership is committed to building a diverse workforce; Senior Leadership
champions an inclusive work environment where each employee is considered an individual; Sufficient effort is made to get the opinions andthinking of people who work here; There is equal opportunity for people to have a successful career at Kenvue, regardless of their differences
or background; Diverse perspectives are valued at Kenvue; In my workgroup, it feels safe to take social risks (e.g. suggesting ideas, asking
questions, making mistakes); I trust my people leader; My people leader holds people accountable for demonstrating inclusive behaviors(e.g. ensuring all voices are heard, being respectful); My people leader values team members’ perspectives even when those perspectives
are different from their own; I believe diversity and inclusion are important for Kenvue’s success; I am treated with respect at work; I feel likeI belong at Kenvue.

2023

Under 30

14%

30-50

68%

51+

18%

1

Employees are defined as individuals working full-time or part-time, excluding fixed-term employees, interns, and co-op employees.
Contingent workers, contractors, subcontractors, and individuals on long-term disability are also excluded.

*

Data has been assured by ERM-CVS.

50%

1

46

Appendix

Diversity, equity & inclusion

Public health

Workforce health, safety & well-being

Global representation of womenby management level1 in %*2023

Employee safety2023

Humanitarian aid

2023

Manager

54%

Lost Workday Case Rate1

0.12

Value of in-kind contributions1$31.0 MM

Director

50%

Total Recordable Incident Rate2

0.40

Value of cash contributions$0.7 MM

Vice President and above

46%

Number of fatalities — employees

11

All management levels include manager, director, vice president and above.

*

Data has been assured by ERM-CVS.

Representation of race/ethnicity1 bymanagement level2 in the U.S. in %*2023

Race/Ethnicity

Manager

Director

Vice President
and above

White

64%

63%

66%

Asian

18%

17%

12%

Black/African American

8%

9%

8%

Hispanic/Latino

8%

8%

11%

2 or more races

2%

2%

2%

Native Hawaiian or PacificIslander, American Indianor Alaska Native

0%

1%

0%

Declined to answer

0%

1%

0%

1

U.S. Employee only. Workforce composition metrics are derived from data as collected in connection with EEO-1 reporting. Due to rounding,
percentages may not sum.

2

All management levels include manager, director, vice president and above.

*

Data has been assured by ERM-CVS.

30

Number of fatalities — contractors

01“Lost days” are calendar days counted beginning the day after an incident has taken place.

2

Also known as Total Recordable Incident Rate, TRIR is the number of recordable incidents per 100 full-time workers.

3

Employees are defined as individuals working full-time or part-time, excluding fixed-term employees, interns, and co-op employees.
Contingent workers, contractors, subcontractors, and individuals on long-term disability are also excluded.

The methodology to calculate product donations was a combination of Fair Market Value (FMV), list price, and/or retail recommended value.

47

Appendix

Healthy planet
Figures for Healthy Planet tables are expressed for the calendar year
beginning January 1 through December 31 for each year reported, unlessotherwise specified.

Purchased energy use by type
(MWh)

2020

2021

2022

2023*

Total Kenvue purchased energy1

806,901

795,173784,847

723,138

Electricity purchased from grid

441,644427,317423,230

385,188

Natural gas

284,951

277,003

266,846

Diesel fuel44,396

51,84744,461

Renewable
electricity1by region2

Energy consumption

1

2

*

2020

2021

2022

2023

Total energy consumption (MWh)809,290

797,551

786,542

728,469% of energy from renewablesources2

18.8%

17.4%

27.3%

39.9%

%

MWh

130,183

29.3%

218,704

North America
94,861(NA)

50,819% of energy from non-renewablesources2

81.2%

82.6%

72.7%

60.1%

Steam

15,528

3,068

21,208

3,058

19,763

5,882

18,520MWh109,950 25.5%

186,42143.3%

263,839 65.2%

58.7%

73,93049.0%

88,16559.5%

90,61062.8%

Europe, Middle
East, Egypt,
35,104and Africa(EMEA)

33.8%

33,77033.3%

912,0387.2%

75,908

81.1%

Latin America(LATAM)

0.0%

337

0.4%

514

0.7%

75,175

100%

0.2%

1,914

2.0%

65,39

6.6%

22,14624.2%

0Propane

Kerosene

Renewable and non-renewable energy sources are defined in GRI 302: Energy 2016; a renewable energy source is an energy source thatis capable of being replenished in a short time through ecological cycles or agricultural processes (e.g., biomass, geothermal, hydro, solar,wind) and a non-renewable energy source is an energy source that cannot be replenished, reproduced, grown or generated in a short time
period through ecological cycles or agricultural processes (e.g., coal, fuels distilled from petroleum or crude oil, fuels extracted from natural
gas processing and petroleum refining; natural gas).

Fuel oil

Data has been assured by ERM-CVS.

1,513

5,129

3,686

819

2,323

2,538

1,829

4,714

4,541

%

2023*

%

%

17,556
Asia and218
Pacific (APAC)

Applies to all Kenvue-owned facilities where Kenvue has operational control, regardless of building type; all leased facilities used for
manufacturing and/or research and development; and leased, non-manufacturing and/or non-research and development facilities where
the facility is greater than 50,000 square feet and where Kenvue has operational control. The 2020 baseline and all subsequent
reporting years include all facilities aligned to Kenvue’s structure upon separation from Johnson & Johnson in 2023 and do not include
any operational or organizational exclusions.

2022

MWh

Total Kenvue
renewable
electricity3*

Direct heating/district cooling

2021

MWh

Climate change
1

2020

1,347

3,899

1

Renewable energy source is an energy source that is capable of being replenished in a short time through ecological cycles or agriculturalprocesses (e.g., biomass, geothermal, hydro, solar, wind). Renewable electricity targets are achieved through a combination of actions,
including on-site solar, virtual power purchase agreements (VPPAs), direct power purchase agreements (PPAs), energy attributecertificates (EACs), also known as renewable electricity certificates (RECs), and green retail contracts.

2

Inventory and reporting are aligned with RE100 technical criteria and supplemented by CDP.

3

Applies to all Kenvue-owned facilities where Kenvue has operational control, regardless of building type; all leased facilities used for
manufacturing and/or research and development; and leased, non-manufacturing and/or non-research and development facilities where
the facility is greater than 50,000 square feet and where Kenvue has operational control. The 2020 baseline and all subsequent
reporting years include all facilities aligned to Kenvue’s structure upon separation from Johnson & Johnson in 2023 and do not include
any operational or organizational exclusions.

*

Data has been assured by ERM-CVS.

2,415

Liquefied petroleum gas (LPG)

4

2

0

0

Co-generation/tri-generation

0

0

0

9,815

Biogas

6,821

7,452

8,414

8,206

Solar PV

162

1,605

5,165

6,614

Petrol

0

0

1

53

1

Applies to all Kenvue-owned facilities where Kenvue has operational control, regardless of building type; all leased facilities used for
manufacturing and/or research and development; and leased, non-manufacturing and/or non-research and development facilities where
the facility is greater than 50,000 square feet and where Kenvue has operational control. The 2020 baseline and all subsequent
reporting years include all facilities aligned to Kenvue’s structure upon separation from Johnson & Johnson in 2023 and do not include
any operational or organizational exclusions.

*

Data has been assured by ERM-CVS.

48

Appendix

Scope 1 GHG emissions1,2(MTs CO2e)20204,*

2021

2022

Kenvue Scope 1 GHG emissions3

73,84173,062

71,9822023*

Scope 3 GHG emissions, by source1,*(MTs CO2e)

2022

2023

62,919Total Kenvue Scope 3 GHG emissions2,3

3,652,178

3,410,360

Category 1: Purchased goods
and services4

2,644,220

2,519,417

Category 2: Capital goods5

18,063

21,474

1

Applies to all Kenvue-owned facilities where Kenvue has operational control, regardless of building type; all leased facilities used for
manufacturing and/or research and development; and leased, non-manufacturing and/or non-research and development facilities where
the facility is greater than 50,000 square feet and where Kenvue has operational control. The 2020 baseline and all subsequent
reporting years include all facilities aligned to Kenvue’s structure upon separation from Johnson & Johnson in 2023 and do not include
any operational or organizational exclusions.

2

The target boundary includes land-related emissions and removals from bioenergy feedstocks.

3

The inventory was compiled in accordance with the World Resources Institute (WRI) / World Business Coucil for Sustainable Development(WBCSD) Greenhouse Gas (GHG) Protocol - A Corporate Account and Reporting Standard (Revised Edition 2013) including theamendment to this protocol, GHG Protocol Scope 2 Guidance (2015). Scope 1 emission factors are sourced from a variety of reputablepublic sources which includes emission factors for fuel sources which are multiplied by the associated global warming potential (GWP) andadded together to determine the total CO2e. Scope 1 emissions are defined as from sources that are owned or controlled by Kenvue andoccur on-site within its operational boundaries. Fleet emissions are reported as CO2 and do not include other greenhouse gas emissions.

42020 represents Kenvue’s baseline year toward which GHG emissions reductions will be measured. Consistent with the GHG Protocol,a recalculation shall be performed if any significant qualitative or quantitative change is made to the data, inventory boundary and/or
methods; ‘Significant’ is defined as a structural change such as merger or acquisition or a data error over 5%.

*

Data has been assured by ERM-CVS.

1

2
3

Scope 2 GHG emissions1,2,3(MTs CO2e)

2020*

2021

2022

2023*

Kenvue Location-based Scope 2
GHG emissions

158,307

146,693

154,554

146,245

Kenvue Market-based Scope 2
GHG emissions

136,832

133,505

113,934

93,610Category 3: Fuel-and-energyrelated activities6

Applies to all Kenvue-owned facilities where Kenvue has operational control, regardless of building type; all leased facilities used for
manufacturing and/or research and development; and leased, non-manufacturing and/or non-research and development facilities where
the facility is greater than 50,000 square feet and where Kenvue has operational control. The 2020 baseline and all subsequent
reporting years include all facilities aligned to Kenvue’s structure upon separation from Johnson & Johnson in 2023 and do not include
any operational or organizational exclusions.
The target boundary includes land-related emissions and removals from bioenergy feedstocks.
The inventory was compiled in accordance with the World Resources Institute (WRI) / World Business Council for Sustainable Development(WBCSD) Greenhouse Gas (GHG) Protocol - A Corporate Accounting and Reporting Standard (Revised Edition 2013) including theamendment to this protocol, GHG Protocol Scope 2 Guidance (2015). Scope 1 emission factors are sourced from a variety of reputablepublic sources which includes emission factors for fuel sources which are multiplied by the associated global warming potential (GWP) andadded together to determine the total CO2e. Scope 1 emissions are defined as from sources that are owned or controlled by Kenvue andoccur on-site within its operational boundaries.

*

1

Data has been assured by ERM-CVS.

Scope 1 + 2 GHG emissions1,2,3(MTs CO2e)

2020*

2021

2022

2023*

Total Kenvue Scope 1 + 2 Marketbased GHG emissions

210,673

206,567

185,916

156,529

Total annual reduction of Scope
1 + 2 GHG emissions (%)

-

11.8%

25.7%

Applies to all Kenvue-owned facilities where Kenvue has operational control, regardless of building type; all leased facilities used for
manufacturing and/or research and development; and leased, non-manufacturing and/or non-research and development facilities where
the facility is greater than 50,000 square feet and where Kenvue has operational control. The 2020 baseline and all subsequent
reporting years include all facilities aligned to Kenvue’s structure upon separation from Johnson & Johnson in 2023 and do not include
any operational or organizational exclusions.

2

The target boundary includes land-related emissions and removals from bioenergy feedstocks.

3

The inventory was compiled in accordance with the World Resources Institute (WRI) / World Business Council for Sustainable Development

Scope 3 data limited assurance provided by ERM-CVS includes all Scope 3 categories except C1: Purchased goods and services – Forest
Land and Agriculture (FLAG) emissions (494,307 MT CO2e) and C15: Investments (551 MT CO2e).

4

C1 includes emissions from all upstream impacts (cradle to gate) from Kenvue's supply chain related to goods (such as external
manufacturing, chemicals, packaging) and services (media, marketing, research services). This also includes Forest, Land andAgriculture (FLAG) emissions from cotton, palm oil, and timber. Emissions were calculated using company spend in the report year
paired with appropriate economic input/out (IO) emissions factor the Supply Chain Greenhouse Gas Emissions Factors v1.2 NAICS-6.

5

C2 includes emissions from all upstream impacts (cradle to gate) for categories designated as capital goods under Kenvue's financial
accounting (capital equipment, construction, and facility services). Emissions were calculated using Company spend in the report year
paired with appropriate economic input/out (IO) emissions factor the Supply Chain Greenhouse Gas Emissions Factors v1.2 NAICS-6.

6

C3 includes upstream emissions associated with the production of fuels, electricity, steam, chilled water, and district heat consumed by
Kenvue. This includes well-to-tank (WTT)—GHG emissions from the production, transportation, transformation and distribution of the fuelused to power vehicles, transmission and distribution (T&D)—GHG emissions associated with distributing electricity from a utility to theend user, and WTT and T&D loss—upstream GHG emissions associated with the production, transportation, transformation anddistribution of the fuel used to power electricity that is lost in the transmission and distribution process. Emissions were calculated using
IEA loss factors for electricity and DEFRA WTT emission factors for fuels and electricity.

7

C4 includes emissions from air, rail, road, and marine transportation, and storage of products produced in the reporting year. This canbe between an organization’s tier 1 suppliers and its own operations, or for all inbound or outbound logistics purchased by the reportingorganization from a third-party. Reporting includes all inbound and outbound third-party logistics and warehousing paid for by Kenvue.

8

C5 includes emissions from waste generated in Kenvue-owned facilities where Kenvue has operational control, used for manufacturing

64,867

and/or research and development. Emissions were calculated for both non-hazardous and hazardous waste using DEFRA's emissions
factors for waste.
9

C6 includes emissions from the transportation of employees for business-related activities, including air, rail, and automobile travelincluding well-to-wheel (WTW) emissions (emissions produced throughout a fuel’s entire lifecycle, from its production to its use). Hotelstays are considered optional for reporting to the SBTi and are not reported. Travel related emissions from reimbursements were
excluded. Data reported in 2023 reflects an adjustment to the methodology using DEFRA’s emissions factors for air travel.

10

C7 includes emissions from the transportation of employees for business-related activities, including air, rail, and automobile travelincluding well-to-wheel emissions and was calculated based on employee home and office locations and average work from home as well as
commuting behaviors.

11

C8 includes emissions from upstream leased assets and was calculated for sites that do not meet the criteria of Kenvue's Scope 1 and2 emissions: Kenvue-owned facilities where Kenvue has operational control, regardless of building type; all leased facilities used
for manufacturing and/or research and development; and leased, non-manufacturing and/or non-research and development
facilities where the facility is greater than 50,000 square feet.

12

C9 includes emissions from the transportation and distribution of sold products. This only includes emissions from after the point of salewhen transportation of the product is not paid for by Kenvue. In general, most of the outbound transportation from Kenvue's operations
to customers is paid for by Kenvue and reported in C4. Upon transfer of goods to Kenvue's customers, products are distributed/stored
downstream from retailers’ warehouses to their retail locations and reported in C9 and was calculated using activity-based data using
DEFRA emissions factors.

Category 4: Upstream
transportation and distribution7

696,046

Category 5: Waste generated
in operations8

2,314

2,063

Category 6: Business travel9

23,51425,901Category 7: Employee commuting10

28,20834,69213

C11 and C12 include direct emissions from the use of sold products and the end-of-life treatment of sold products was calculated using
sales volumes for all Kenvue products combined with lifecycle assessment (LCA) models where sales volumes could be obtained; where
they could not be obtained, sales revenues and average unit prices were used to estimate volumes. Due to the size of our product portfolio,
LCAs were not performed for every Kenvue product, so products were placed into LCA categories, and a representative product LCA
was applied.

Category 8: Upstream leased assets11

4,745

5,958

14

C15 includes emissions for some investments that were previously included in Johnson & Johnson's Venture Investing (JJDC). Kenvue only
reports the scope 1 & 2 of these investments in line with Greenhouse Gas Protocol guidance on C15.

*

Data has been assured by ERM-CVS.

549,345

Category 9: Downstream
transportation and distribution12

18,082

18,406

Category 11: Use of sold products13

1,129

817

Category 12: End-of-life treatmentof sold products13
Category 15: Investments

1.9%

71,1273

14

143,995

735

166,869

The inventory was compiled in accordance with the World Resources Institute (WRI) / World Business Council for Sustainable Development(WBCSD) Greenhouse Gas (GHG) Protocol - A Corporate Accounting and Reporting Standard (Revised Edition 2013) including theamendment to this protocol, GHG Protocol Scope 2 Guidance (2015). Scope 3 are defined as indirect emissions (not included in scope 2)that occur in the value chain of the reporting company, including both upstream and downstream emissions and are aligned with The
World Business Council on Sustainable Development (WBCSD) defined 15 scope 3 categories in the Corporate Value Chain (Scope 3)
Accounting and Reporting Standard.

2

Emissions from C10: Processing of sold products, C13: Downstream leased assets, and C14: Franchises and investments are not applicable
to Kenvue.

2022

2023

% of Kenvue's suppliers by emissions
covering Category 1: Purchased goods
and services1 and Category 4: Upstream
transportation and distribution,2 thathave science-based targets

19%

21%

1

C1 includes emissions from all upstream impacts (cradle to gate) from Kenvue's supply chain related to goods (such as external
manufacturing, chemicals, packaging) and services (media, marketing, research services). This also includes Forest, Land andAgriculture (FLAG) emissions from cotton, palm oil, and timber. Emissions were calculated using company spend in the report year
paired with appropriate economic input/out (IO) emissions factor the Supply Chain Greenhouse Gas Emissions Factors v1.2 NAICS-6.

2

C4 includes emissions from air, rail, road, and marine transportation, and storage of products produced in the reporting year. This canbe between an organization’s tier 1 suppliers and its own operations, or for all inbound or outbound logistics purchased by the reportingorganization from a third-party. Reporting includes all inbound and outbound third-party logistics and warehousing paid for by Kenvue.

551

1

Scope 3 SBT supplier engagement(WBCSD) Greenhouse Gas (GHG) Protocol - A Corporate Accounting and Reporting Standard (Revised Edition 2013) including theamendment to this protocol, GHG Protocol Scope 2 Guidance (2015). Fleet emissions are reported as CO2 and do not include othergreenhouse gas emissions.
*

Data has been assured by ERM-CVS.

49

Appendix

Plastics

Biodiversity, land & forest

Plastic packaging

2021

2022

2023

Total weight of plastic packaging1 (MTs)

125,000

117,000

105,000% of plastic packaging made from recycled
and/or renewable materials
1% of plastic packaging1 that is recyclable2
or refillable3
Total reduction of virgin plastics4 inpackaging1 weight (%)

2

1%

72.8%

1%

4.4%

71.1%

9.6%

21.1%

Packaging for direct purchases, may not include all externally manufactured products. Total weight of plastics packaging is calculated utilizing
2024 Business Plan volume and is not trued up to actual sales. Manual adjustments of <10% were made to 2024 Business Plan volume basedon SME judgment to remove materials not assumed to contain plastics.

2

Recyclable, also defined as recycle-ready, is when packaging is designed for collection, sorting, and recycling using end-of-life processes,
but where collection, sorting and recycling infrastructure may not yet be in place for the packaging to actually be recycled. Best practices of"designing for recyclability" guidance for plastic-based packaging include the Association of Plastics Recyclers in the United States. Note:"Designed for recycling," "designed for recyclability," and "recycle ready" are also used interchangeably and reflect the same meaning.

4

Kenvue defines refillable or reusable packaging as packaging that is designed for either the business or the consumer to put the same typeof purchased product back into the original packaging, is designed to be returnable and/or refillable, and accomplishes a minimum number ofreuses by being part of a system that enables reuse.

Waste

Total waste generated (hazardousand non-hazardous MTs)

2023
59,8308.8%

Non-hazardous waste (%)2

91.2%

Total waste diverted3 from disposal (MTs)46,173% of total waste diverted3 from disposal

77.1%

Includes waste generated from Kenvue-owned and operated facilities used for manufacturing.

2

Hazardous waste includes biological waste.

3

Diverted is defined as recycled, reused or used for waste to energy.

Total Kenvue volume of palm oil-based ingredientspurchased1

79,72894%

Volumes of palm oil-based ingredients purchased
through RSPO physical supply chains2 or covered
by RSPO Book & Claim credits6

FSC® certified4 paper/wood fiber

43,12351%

PEFC certified5 paper/wood fiber

13,660

Verified recycled2 paper/wood fiber% of Total

30,600100%

Identity Preserved 3

0

0%

16%

Segregated400%22,94527%

Mass Balance 5

9,200

30%

4,990

6%

Book & Claim credits 6

21,40070%

Certification schemes accepted by Kenvue include FSC® or PEFC chain of custody standard, only when FSC® is not available.

2

Recycled includes both post-consumer and post-industrial recycled content; Verification of recycled content is conducted by an external thirdparty (for example, Preferred by Nature). The information provided herein includes data from suppliers. While we strive to ensure the accuracy
and completeness of this data, we recognize there may be limitations to its accuracy or comprehensiveness.

Hazardous waste (%)1

1

-

2023
MTs

1

3

Waste generated & diverted
from disposal1

84,718

Total volume of paper and wood fiber packaging
not certified or verified recycled

Virgin plastic means newly manufactured resin produced from petrochemical feedstock used as the raw material for the manufacture ofplastic products and which has never been used or processed before.

Palm oil sourcing% of Total

Total volume of certified1 or verified recycled2
paper and wood fiber packaging3

71.4%

2023
MTs

Total Kenvue volume of paper and wood fiber
sourced

6.9%

1

3

Paper/wood1 fiber sourcing

Palm oilVolumes include direct purchases of primary and secondary packaging and leaflets. Volumes do not include the packaging materials sourced
in some externally manufactured products.

1

Includes palm oil-based ingredients directly procured by Kenvue; does not include palm oil-based ingredients in some externally
manufactured products.

2

Physical supply chain refers to palm oil supply that is sourced from certified plantations under the Mass Balance, Segregated, or Identity
Preserved certifications. More information on RSPO-certified supply chains can be found here: https://rspo.org/as-an-organisation/
certification/supply-chains/3

Identity preserved is from a single identifiable certified source that is kept separately from ordinary palm oil throughout the supply chain.

4

Forest Stewardship Council (FSC®) certified paper/wood fiber is made from responsibly sourced wood fiber.

4

Segregated is from different certified sources that is kept separate from ordinary palm oil throughout the supply chain.

5

Programme of the Endorsement of Forest Certification (PEFC) certified paper/wood fiber, including Sustainable Forestry Initiative (SFI) is
made from responsibly sourced wood fiber.

5

Mass balance is from certified sources that are mixed with ordinary palm oil throughout the supply chain.

6

Manufacturers and retailers can buy RSPO Credits and RSPO Independent Smallholder Credits from RSPO-certified growers, crushers, andindependent smallholders. By purchasing RSPO Credits, buyers encourage the production of Certified Sustainable Palm Oil. https://rspo.org/
as-an-organisation/rspo-credits/

50Appendix

Healthy practice

Board of Directors

Figures for Healthy Practice tables are expressed for the calendar year

Composition of Board of Directors1

2023

Product quality indicators

2023

Number of Directors

11

Number of regulatory inspections of Kenvue sites1
by worldwide health authorities

125

Number of Independent Directors

7% of regulatory inspections that resulted inzero observations

83%

Percentage of Independent Directors

64%

Number of FDA inspections of Kenvue sites

4% of FDA inspections that resulted in zero observations

75%

Average number of observations per FDA inspection

1.25

Number of independent audits of Kenvue sites to ensurecompliance with Kenvue Quality Policy & Standards

43

Number of FDA warning letters issued

0

Product quality & consumer safety

beginning January 1 through December 31 for each year reported, unlessotherwise specified.

Ethics & compliance
Supply base overview

2023

Number of Kenvue suppliers

13,672

Number of Kenvue direct suppliers

Number of Kenvue indirect suppliers

Total Kenvue supplier spend (billions)1
1

1

1,951

11,721$8.8

Represents spend we have control over / addressable spend, defined as products and services that procurement teams can negotiate with
suppliers to meet business goals. Values have been rounded. Due to rounding, the numbers presented do not add up to the totals provided,and percentages may not reflect the absolute figures.

Supplier engagement1

2023% of Kenvue total suppliers with EcoVadis
assessments completed

4%% of Kenvue direct suppliers with EcoVadis
assessments completed

19%% of Kenvue indirect suppliers with EcoVadis
assessments completed

1

Diversity in Board of Directors1

2023

Women

36%

Ethnic/racial2 diversity
1
2

45%

Board composition as of April 10, 2024.
Asian, Black/African American, Hispanic/Latino, Other Ethnic Racial Diversity; 2+ more races, NH/PI, AI/AN (Native Hawaiian orPacific Islander, American Indian or Alaska Native). Workforce composition metrics are derived from data collected in connection with
EEO-1 reporting.

1

Applies to all Kenvue-owned manufacturing facilities.

Employee training

1

2%

Board composition as of April 10, 2024.

Kenvue Code of Conduct (COC) training

2023

Percentage of active employees1 who completed online
COC training

97%

Excludes manufacturing employees. Manufacturing employees are defined as non-supervisory personnel who are engaged in suchfunctions such as production, production maintenance, quality control inspections, materials management distribution, and warehousing.
Non-computerized training for manufacturing employees planned to ensure understanding of COC.

Supplier EcoVadis assessments are reported as of March 22, 2024.

51

Appendix

Financials

1

Quality, environmental, health & safety

Financial results1 (millions)2023

EHS compliance & certifications

2023

Net sales$15,444

Number of Kenvue-owned and operated manufacturing
facilities1

27

Net income$1,664

Number of Kenvue manufacturing and R&D sites certified
to ISO 140012,3

29

Results for the fiscal twelve months ended December 31, 2023, as reported in Kenvue’s Annual Report on Form 10-K
released on March 1, 2024.

% of Kenvue manufacturing and R&D sites certified to ISO
140013,4100%

Net sales by business segment1 (millions)2023

Number of Kenvue manufacturing and R&D sites certified
to ISO 450012,5

3

Self Care2$6,451% of Kenvue manufacturing and R&D sites certified to ISO
450014,5

10.3%

Skin Health & Beauty3$4,378

Number of Kenvue sites certified to ISO 90016

5

Essential Health4$4,615

Number of environmental non-compliances7

8

Fines paid for environmental non-compliances (USD)8$600.00

1

Segment net sales for the fiscal twelve months ended December 31, 2023 as reported in Kenvue’s Annual Report on Form 10-K released on
March 1, 2024.

2

Self Care product categories include: Pain Care; Cough, Cold, and Allergy; and Other Self Care (Digestive Health; Smoking Cessation; Eye Care; andOther). Major brands in the segment include Tylenol®, Motrin®, Benadryl®, Nicorette®, Zyrtec®, Zarbee’s®, ORSLTM, Rhinocort®, and Calpol®.

3

Skin Health & Beauty product categories include: Face and Body Care; and Hair, Sun, and Other. Major brands in the segment include
Neutrogena®, Aveeno®, Dr.Ci:Labo®, OGX®, Le Petit Marseillais®, Lubriderm®, and Rogaine®.

4

Essential Health product categories include: Oral Care; Baby Care; and Other Essential Health (Women’s Health; Wound Care; and Other).
Major brands in the segment include Listerine®, Johnson’s®, BAND-AID® Brand Adhesive Bandages, Stayfree®, o.b.® tampons, Carefree®, andDesitin® Diaper Rash.

1

Kenvue-owned facilities used for manufacturing, where Kenvue has operational control.

2

Certified to ISO 14001 or ISO 45001 means the site has received an external certification that is valid as of December 31, 2023.

3

ISO 14001 is the organization’s international standard for environmental management systems.

4

The total manufacturing and R&D sites excludes small R&D and manufacturing sites (defined as less than 50 employees.)5

ISO 45001 is an international standard that specifies requirements for occupational health and safety management systems

6

ISO 9001 is an international standard that gives requirements for an organization’s quality management systems.

7

Environmental non-compliances represent instances of non-compliance with environmental regulatory requirements or laws that were either
1) self-reported to authorities in the reporting year or 2) identified by authorities and the non-compliance occurred in the reporting year.
The authorities include regional, national, state/country/province and local/city regulatory agencies.

8

Fines paid for environmental non-compliances include those paid in the reporting year.

52

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Kenvue 2023 Healthy Lives Mission Report

SASB Index: Household & Personal Products Standard
Disclosure Topic and Accounting Metrics

Location/Response

Water Management
CG-HP-140a.1(1) Total water withdrawn, (2) total water consumed, percentage of each in regions with High orExtremely High Baseline Water Stress

Aligned with our double materiality assessment (DMA) water was determined not to be material to our business.

CG-HP-140a.2

Description of water management risks and discussion of strategies and practices to mitigate those risks

Aligned with our double materiality assessment (DMA) water was determined not to be material to our business.

Product Environmental, Health, & Safety Performance
CG-HP-250a.1

Revenue from products that contain REACH substances of very high concern (SVHC)

Kenvue does not disclose this data.

CG-HP-250a.2

Revenue from products that contain substances on the California DTSC Candidate Chemicals List

Kenvue does not disclose this data.

CG-HP-250a.3

Discussion of process to identify and manage emerging materials and chemicals of concern

Product quality and safety, p. 35-37
Position on impact of pharmaceuticals and personal care products in the environment
Position on quality, safety and compliance

CG-HP-250a.4

Revenue from products designed with green chemistry principles

Kenvue does not disclose this data.

Packaging Lifecycle Management
CG-HP-410a.1(1) Total weight of packaging, (2) percentage made from recycled and/or renewable materials,
and (3) percentage that is recyclable, reusable, and/or compostable

Plastics, p. 24
Data tables, p. 50 (Plastic packaging)

CG-HP-410a.2

Discussion of strategies to reduce the environmental impact of packaging throughout its lifecycle

Plastics, p. 24-25
Waste, p. 29-30

Environmental & Social Impacts of Palm Oil Supply Chain
Amount of palm oil sourced, percentage certified through the Roundtable on Sustainable Palm Oil (RSPO)
supply chains as (a) Identity Preserved, (b) Segregated, (c) Mass Balance, or (d) Book & Claim

Palm oil, p. 27-28
Data tables, p. 50 (Palm oil sourcing)

CG-HP-000.A

Units of products sold, total weight of products soldKenvue does not disclose this data.

CG-HP-000.B

Number of manufacturing facilities

Data tables, p. 52 (EHS compliance & certifications)

CG-HP-430a.1
Activity Metrics

53

Appendix

Kenvue 2023 Healthy Lives Mission ReportGRI Index
Kenvue has reported the information cited in this GRI content index for the period January 1, 2023 to December 31, 2023 with reference to the GRI Standards.

GRI Standards
GRI Standard

GRI Disclosure

Location/Response

2-1: Organizational details

Kenvue Inc. is a publicly traded corporation.
The location of our headquarters is 199 Grandview Road, Skillman, NJ 08558.
The countries of our operations are listed in our Form 10-K, Exhibit 21.

2-2: Entities included in the organization’s ESG Reporting

About this report, p. 6
Form 10-K, Notes to Consolidated Financial Statements, Description of the Company and Summary of Significant Accounting Policies

2-3: Reporting period, frequency, and contact point

About this report, p. 6
Kenvue intends to publish the Healthy Lives Mission Report annually.
Kenvue's fiscal year (FY) ends on the Sunday nearest to the end of the month of December. FY23 occurred between January 1, 2023 andDecember 31, 2023. Kenvue's financial and ESG reporting periods are aligned.
Kenvue's 2023 Healthy Lives Mission Report was published on June 25, 2024.
For questions about the report or reported information, please contact: sustainability@kenvue.com

2-4: Restatements of information

There are no restatements of information as this is Kenvue's inaugural report.

2-5: External assurance

Kenvue's Chief Sustainability Officer led the process of seeking external assurance.
Limited Assurance Statement 2023

2-6: Activities, value chain, and other business relationships

About Kenvue, p. 5
Form 10-K, Item 1. Business
Form 10-K, Item 1. Business; Item 1A. Risk Factors

2-7: Employees

Data tables, p. 46 (Global workforce)
Data tables, p. 46 (Total employees by regions)
Data tables, p. 46 (Employees by gender)

2-8: Workers who are not employees

Kenvue does not disclose this information.

2-9: Governance structure and composition

ESG & sustainability governance, p. 6
Principles of Corporate Governance, p. 5
Proxy Statement, p. 12-18, 20-23,
Proxy Statement, p. 20, 22-23, 27-28
Governance

2-10: Nomination and selection of the highest governance bodyPrinciples of Corporate Governance, p. 4-5, 13
Proxy Statement, p. 11

General Disclosures

GRI 2:
General Disclosures 2021

54

Appendix

GRI Standards
GRI Standard

GRI Disclosure

Location/Response

General Disclosures (continued)

GRI 2:
General Disclosures 2021

2-11: Chair of the highest governance body

The Chair of the Board of Directors is not a senior executive.

2-12: Role of the highest governance body in overseeing the management of impacts

ESG & sustainability governance, p. 6
Proxy Statement, p. 26-28
Principles of Corporate Governance

2-13: Delegation of responsibility for managing impacts

ESG & sustainability governance, p. 6
Operationalizing the Kenvue ESG strategy, p. 8
Principles of Corporate Governance

2-14: Role of the highest governance body in ESG Reporting

The Nominating, Governance & Sustainability Committee of the Kenvue Board of Directors reviews the progress of sustainability goals andobjectives, trends in enforcement and industry practices, and discusses any significant reports or public statements relating to sustainability
or ESG matters, including this report.

2-15: Conflicts of interest

Principles of Corporate Governance, p. 2
Code of Business Conduct and Ethics for Members of the Board of Directors and Executive Officers, p. 1-2
Proxy Statement, p. 11, 23

2-16: Communication of critical concerns

Principles of Corporate Governance, p. 5
Proxy Statement, p. 29

2-17: Collective knowledge of the highest governance bodyPrinciples of Corporate Governance, p. 6-7
Proxy Statement, p. 28

2-18: Evaluation of the performance of the highest governance bodyPrinciples of Corporate Governance, p. 6
Proxy Statement, p. 24

2-19: Remuneration policies

Proxy Statement, p. 35-73

2-20: Process to determine remuneration

Principles of Corporate Governance, p. 4
Proxy Statement, p. 35-73

2-21: Annual total compensation ratio

Kenvue does not disclose this information.

2-22: Statement on sustainable development strategy

Message from our CEO, p. 3

2-23: Policy commitments

Ethics & compliance, p. 41-42
Code of Conduct
Code of Business Conduct and Ethics for Members of the Board of Directors and Executive Officers

2-24: Embedding policy commitments

Ethics & compliance, p. 41-42
Code of Conduct

55

Appendix

GRI Standards
GRI Standard

GRI Disclosure

Location/Response

General Disclosures (continued)
2-25: Processes to remediate negative impacts

Kenvue Integrity Line
Palm oil, p. 28

2-26: Mechanisms for seeking advice and raising concerns

Ethics & compliance, p. 41-42
Code of Conduct, p. 7-9
Kenvue Integrity Line
Palm oil, p. 28

2-27: Compliance with laws and regulations

Data Tables, p. 52 (EHS compliance & certifications)

2-28: Membership associations

Kenvue participates in the following industry and membership associations, amongst others:
AIM-Progress
Business for Social Responsibility
Consumer Goods Forum
Ellen MacArthur Foundation Global Commitments
Intellectual Property Owners Association
International Anti-Counterfeiting Coalition
International Trademark Association
Pharmaceutical Trademarks Group
Self Care Federation
Sustainable Brands
WWF Climate Business Network

2-29: Approach to stakeholder engagement

Determining ESG double materiality, p. 8-9
Double Materiality Assessment 2023

2-30: Collective bargaining agreements

Kenvue does not disclose this information.

3-1: Process to determine material topics

Determining ESG double materiality, p. 8-9
Double Materiality Assessment 2023

3-2: List of material topics

Determining ESG double materiality, p. 8-9
Double Materiality Assessment 2023

GRI 2:
General Disclosures 2021

Material Topics

GRI 3:
Material Topics 2021

56

Appendix

GRI Standards
GRI Standard

GRI Disclosure

Location/Response

3-3: Management of material topic

Diversity, equity & inclusion, p. 11-15

405-1: Diversity of governance bodies and employees

Data tables, p. 51 (Diversity in Board of Directors)
Data tables, p. 46 (Employees by gender in %)Data tables, p. 46 (Employees by age in %)Data tables, p. 47 (Global representation of women by management level in %)Data tables, p. 47 (Representation of race/ethnicity by management level in the U.S. in %)GRI 3: Material Topics

3-3: Management of material topic

Public health, p. 16-17–

Humanitarian Aid

Data tables, p. 47 (Humanitarian aid)

Diversity, equity & inclusion
GRI 3:
Material Topics 2021

GRI 405: Diversity andEqual Opportunity 2016

Public health

Workforce health, safety & well-being
GRI 3: Material Topics

GRI 403:
Occupational Healthand Safety 2018

3-3: Management of material topic

Workforce health, safety & well-being, p. 18-19

403-1: Occupational health and safety management system

Workforce health, safety & well-being, p. 18-19

403-2: Hazard identification, risk assessment, and incident investigation

Workforce health, safety & well-being, p. 18-19

403-3: Occupational health services

Workforce health, safety & well-being, p. 18-19

403-4: Worker participation, consultation, and communication on
occupational health and safety

Workforce health, safety & well-being, p. 18-19

403-5: Worker training on occupational health and safety

Workforce health, safety & well-being, p. 18-19

403-6: Promotion of worker health

Workforce health, safety & well-being, p. 18-19

403-7: Prevention and mitigation of occupational health and safety impacts
directly linked by business relationships

Workforce health, safety & well-being, p. 18-19

403-8: Workers covered by an occupational health and safety management system

Workforce health, safety & well-being, p. 18-19

403-9: Work-related injuries

Data tables, p. 47 (Employee safety)

403-10: Work-related ill health

Data tables, p. 47 (Employee safety)

57

Appendix

GRI Standards
GRI Standard

GRI Disclosure

Location/Response

3-3: Management of material topic

Climate change, p. 21-23

302-1: Energy consumption within the organization

Data tables, p. 48 (Energy consumption)
Data tables, p. 48 (Purchased energy by use type)
Data tables, p. 48 (Renewable electricity by region)

302-4: Reduction of energy consumption

Data tables, p. 48 (Energy consumption)

302-5: Reductions in energy requirements of products and services

Data tables, p. 48 (Purchased energy by use type)305-1: Direct (Scope 1) GHG emissions

Data tables, p. 49 (Scope 1 GHG emissions)305-2: Energy indirect (Scope 2) GHG emissions

Data tables, p. 49 (Scope 2 GHG emissions)305-3: Other indirect (Scope 3) GHG emissions

Data tables, p. 49 (Scope 3 GHG emissions, by source)

305-5: Reduction of GHG emissions

Data tables, p. 49 (Scope 1 + 2 GHG emissions)

GRI 3: Material Topics

3-3: Management of material topic

Plastics, p. 24-25

GRI 301: Materials 2016

301-1: Materials used by weight or volume

Data tables, p. 50 (Plastic packaging)

3-3: Management of material topic

Biodiversity, land & forest, p. 26-28

101-1 Policies to halt and reverse biodiversity loss

Biodiversity, land & forest, p. 26-28
Position on responsible palm oil sourcing
Position on responsible wood fiber sourcing
Position on sustainable sourcing

3-3: Management of material topic

Waste, p. 29-30

306-1: Waste generation and significant waste-related impacts

Waste, p. 29-30

306-2: Management of significant waste-related impacts

Waste, p. 29-30
Position on impact of pharmaceuticals and personal care products in the environment306-3: Waste generated

Data tables, p. 50 (Waste generated & diverted from disposal)

306-4: Waste diverted from disposal

Data tables, p. 50 (Waste generated & diverted from disposal)

Climate change
GRI 3: Material Topics

GRI 302: Energy 2016

GRI 305: Emissions 2016

Plastics

Biodiversity, land & forest
GRI 3: Material Topics

GRI 101: Biodiversity 2024

Waste
GRI 3: Material Topics

GRI 306: Waste 202058

Appendix

GRI Standards
GRI Standard

GRI Disclosure

Location/Response

Sustainable product innovation
GRI 3: Material Topics

3-3: Management of material topic

Sustainable product innovation, p. 32-33

3-3: Management of material topic

Product transparency, p. 34

3-3: Management of material topic

Product quality & safety, p. 35-37
Position on quality, safety and compliance

GRI 3: Material Topics

3-3: Management of material topic

Human rights, p. 38-41—

Kenvue Code of Conduct (COC) Training

Data tables, p. 51 (Kenvue Code of Conduct (COC) training)
Human rights considerations are covered in Kenvue's Code of Conduct.

GRI 3: Material Topics

3-3: Management of material topic

Ethics & compliance, p. 41-42

GRI 205:
Anti-corruption 2016205-2: Communication and training about anti-corruption policies and procedures

Data tables, p. 51 (Kenvue Code of Conduct (COC) training)
Kenvue's Code of Conduct covers our stance on anti-corruption.

GRI 308:
Supplier Environmental
Assessment 2016308-2 Negative environmental impacts in the supply chain and actions taken

Data tables, p. 51 (Supplier engagement)
Position on sustainable sourcing

414-2 Negative social impacts in the supply chain and actions taken

Data tables, p. 51 (Supplier engagement)
Global modern slavery statement 2023
Position on human rights
Position on sustainable sourcing
Supplier Code of Conduct

Product transparency
GRI 3: Material Topics
Product quality & safety
GRI 3: Material Topics
Human rights

Ethics & compliance

GRI 414: Supplier Social
Assessment 201759

www.kenvue.com
sustainability@kenvue.com