Cabot Corporation

2023 Sustainability Report
Reporting 2022 Performance

1

CABOT 2022 SUSTAINABILITY REPORTTable of Contents

3

5

A Message from Our CEO

Our Performance

Creating a Sustainable Future

About Cabot Corporation

6

Sustainability Pillars & Strategy

9Supporting Our Net Zero Journey

14

Business Segments & Products

7

Board Governance & Oversight10

16

Our Purpose & Strategy

7

Ethics, Compliance & Accountability

10

EVOLVE® Sustainable Solutions
Technology Platform

United Nations Global Compact

12

Winning the Sustainability Transition
with Battery Materials

17

18

2

Our Approach to
Sustainability & ESG

Cabot at a Glance“We continued to strengthen our businessportfolio and focused our innovation inareas that support our customers’sustainability priorities.”

13

8

36

40

About this Report

AppendicesOur 2025 Sustainability Goals

19

Focusing on What Matters (Materiality)

37

Limited Assurance Certificate

41

Building a Better Future Together

20

Stakeholder Engagement

38

Management Approaches

42

Acting Responsibly for the Planet

24

39

GRI Content Index

52

Caring for Our People & Communities

30

Cautionary Statement Relating
to Forward-Looking Statements

CABOT 2023 SUSTAINABILITY REPORTSASB Chemicals Index

62

TCFD Index

65

Message from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

A Message from Our CEO
2022 was a challenging year in the global economy.
We were faced with high levels of inflation and slowing
global growth, a war in Ukraine, and the emergence ofChina from its Covid lockdown policies. Not only did
the Cabot team successfully navigate this turbulent
environment, but we did so while maintaining ourstrategic focus on sustainability as a driving force
behind our “Creating for Tomorrow” strategy.
During the year, we continued to strengthen our businessportfolio and focused our innovation in areas that support
our customers’ sustainability priorities. Based on ourefforts, I believe that Cabot is positioned well to capitalize
on a number of transformational growth opportunities
that will enable a more sustainable future.

Positioned to Win in the Transition
to Electric Vehicles“We continued to strengthen
our business portfolio andfocused our innovation in areasthat support our customers’sustainability priorities.”

The automotive industry is undergoing a transformational
shift from internal combustion engines to electricvehicles (EVs). This transition is being driven by theimperative to decarbonize the mobility sector and Cabot
is playing a vital role in this market through our innovative
conductive additive materials. Conductive additives
are an essential part of the battery chemistry, as theycreate the conductive pathway for electrons to flow inthe charging and discharging of the battery. Batteries
simply will not work without tailored conductive additives.
Specifically, our conductive additives portfolio breadth
and ability to formulate optimal blends of conductive
additives allow us to tailor solutions for our customers’
unique battery chemistries.
2022 was marked by the continued strategic build-out
of capacity in our conductive additives portfolio. We
currently have projects underway that will increase
our conductive carbon and carbon nanotube (CNT)
capacity and these efforts allow us to optimize our
production and further meet our battery customers’
growth expectations.

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CABOT 2023
2022 SUSTAINABILITY REPORTAs demand for EVs continues to grow in the UnitedStates and Europe, regionalization of the battery supply
chain has become a strategic priority for the automotive
industry. Cabot brings a unique value proposition to ourcustomers through our global footprint of manufacturingassets, regional technology centers, and commercial
and technical resources to support our customers’ newbattery plants with a secure supply of critical materials.
In an effort to deepen our regional footprint and support
our customers’ growth plans, we announced plans toinvest approximately $200 million to expand conductive
additive capacity in the United States. Furthermore,
we also opened a new battery application technology
center in Germany focused on supporting customers
and accelerating battery application innovation within
Europe. As we look to the future, we are excited about
this transformational shift in mobility to EVs and our rolein this transition.

Our Evolving Path to Sustainable
Reinforcing Materials
Our commitment to sustainable development is a driving
force behind our efforts to create new products andprocesses that reduce our environmental footprint andsupport the transition to a low-carbon future. In addition
to growth opportunities such as battery materials, we
remain committed to driving sustainability throughout
our portfolio by innovating in ways that meet ourcustomers’ expectations. We recently launched EVOLVE®
Sustainable Solutions, our technology platform foradvancing sustainable reinforcing carbons. The EVOLVE
Sustainable Solutions platform provides a path todeveloping reinforcing carbons recovered fromcircular value chains, made from renewable materials
and bio-based feedstocks, and/or made with a reduced
greenhouse gas footprint through the implementationof industrial decarbonization technologies. With anumber of projects already in the pipeline and moreMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendiceson the horizon, we are excited to work with our customers
and suppliers to further our efforts in developing
sustainable reinforcing carbons at industrial scale
to meet our customers’ sustainability objectives.

Transitioning to a Net Zero Future
We began our sustainability journey nearly two decadesago, and along the way our goals and aspirations have
evolved. While we remain focused on achieving our
2025 sustainability goals, we also strive to do more
to contribute to the sustainability transition. To thisend, we announced our ambition to achieve net zero
emissions globally by 2050. This aspiration is an
important part of our commitment to sustainability,
but we recognize that realizing a net zero carbon
future will require more than just our own efforts andinvestment, and will require collaboration, innovationand supportive public policy. In this pursuit, we arecommitted to taking a broad view of our value chains
and are partnering with other organizations to drive
positive change throughout our industry. We believethat by collaborating with others, we can achieve
more significant results and create a more sustainable
future together.

ESG Companies” for the second consecutive year.
Additionally, for the second consecutive year, we earned
a platinum rating from EcoVadis, the highest recognition
available. Such accolades are an honor and recognize
the great work of our team, but they also drive us tocontinually progress in our journey.

Delivering Performance in Challenging Times
Our 2022 sustainability performance could not havebeen achieved without the dedication and commitmentof the Cabot team worldwide, all of whom are motivatedby our shared purpose. Throughout this report, wedemonstrate how we are working to fulfill our purpose,as well as the many ways our people, products andtechnology innovations are helping to improve daily lifeand enable a more sustainable future.
We are proud to have received external recognition forour sustainability efforts and progress — including being
named to the “America’s Most Responsible Companies2022” list by Newsweek for the third consecutive year,
and to Investor’s Business Daily’s (IBD) “100 BestIn Closing
In order to protect our planet, it is clear that businesses
must play an active role in support of the United Nations
Sustainable Development Goals. That is why we remaina proud signatory to the United Nations Global Compact(UNGC) and are committed to reporting on the progressof our sustainability program.

innovative solutions by investing in best-in-classtechnologies, attracting top talent, and following
responsible business practices. Additionally, sharing
our results and aspirations is an important part of ourcommitment to all our stakeholders, and we are gratefulfor the many people who have inspired our work andpushed us to continually do more.
I thank you for your interest in Cabot Corporation and thesustainability efforts that are at the heart of what we doevery day. I hope that you find our sustainability report
to be a valuable resource in understanding our approachto sustainability and the progress we are making toward
our sustainability goals and ambitions for the future.

Our efforts to enable a more sustainable future are
central to our strategy and our long-term success. We
know that our stakeholders, including our customers,
investors, employees, and communities, expect us
to act responsibly and be good stewards of theenvironment. We remain dedicated to delivering
GRI 2-22 | TCFD Strategy (b)4

CABOT 2023
2022 SUSTAINABILITY REPORTCabot at a Glance

5

CABOT 2023 SUSTAINABILITY REPORT

About Cabot Corporation

6

Business Segments & Products

7

Our Purpose & Strategy

7

Message from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

About Cabot Corporation
Cabot Corporation is a leading global specialty chemicals and performance materials
company headquartered in Boston, MA, USA. Our materials innovation, manufacturing
capabilities, commercial strength, global footprint and commitment to safety andsustainability have enabled us to garner market-leading positions and deliver sustainable
shareholder value.
As a market leader, we continually extend the boundaries of what is possible, leveraging
our team’s expertise and the latest technology to create materials that deliver new levelsof performance and efficiency. We are committed to bringing the power of innovative
chemistry to our customers to help solve many of the sustainability challenges facing ourworld. We continuously strive to be a good neighbor and contribute our time and resources
to help strengthen the communities in which we operate.

Locations & Operations
Cabot has manufacturing operations at 37 sites in over 20 countries, with its global
headquarters in Boston, MA, USA. We have research and development capabilities at
7 locations and sales and administrative staff in over 20 locations around the globe.
North America

South America

Europe, Middle East & Africa (EMEA)

CanadaMexicoUnited States

Argentina
BrazilColombia
Venezuela

Belgium
Czech Republic
FranceGermany
Italy

$4.3B

LatviaSwitzerland
the Netherlands
United Arab Emirates
United Kingdom

Asia Pacific
China
India
Indonesia
Japan
Malaysia

EMEA

10 Manufacturing Sites

Revenue

37

Manufacturing Sites

20+

Countries We Manufacture In#1 or #2

Business Positions

NORTH AMERICA

10 Manufacturing Sites

Boston, MA, USA
Global Headquarters

ASIA PACIFIC

13 Manufacturing Sites
SOUTH AMERICA

4 Manufacturing Sites~4,300

Employees Globally

GRI 2-1

6

CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

AppendicesBusiness Segments & Products

Our Purpose

Cabot organizes its global businesses into two operating segments: Reinforcement
Materials and Performance Chemicals. Our broad range of innovative products helps
advance our customers’ products in a wide range of industries.

Creating materials that improve daily life and enable
a more sustainable future.
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REINFORCEMENT MATERIALS
Reinforcing carbons: industrial rubber products, tires
Engineered elastomer composites (E2C®): industrial rubber
products, tires

PERFORMANCE CHEMICALSSpecialty carbons: adhesives, batteries, coatings, displays,inks, toners, plastics
Fumed metals oxides: adhesives, batteries, coatings,
cosmetics, inks, pharmaceuticals, polishing slurries, sealants,
silicone elastomers, toners
Battery materials: lead acid batteries, lithium-ion batteries
for electric vehicles, consumer electronics, and energy
storage systems

Revenue (%)

Supporting our customers – Our advanced materials enable customers worldwide
to make innovative products that enhance people’s lives while also helping themachieve their sustainability goals and those of their customers. We partner withcustomers to develop solutions that help give them a powerful competitive advantage.
Creating a more sustainable world – We embrace sustainability as a strategic
imperative — for Cabot and for society. We are committed to addressing ourenvironmental impact, where feasible, while creating materials that enableproducts that can offer dramatic improvements in energy efficiency and waste
reduction. We also strive to be a good neighbor by contributing our time andresources to help strengthen our communities.

Aerogel: batteries, building and construction, coatings,
industrial insulation, specialty chemicals, subsea pipelines

Our Strategy

Specialty compounds: agriculture, automotive, consumer
products, electronics, packaging, plastics

Creating for Tomorrow

Inkjet colorants & inks: commercial and industrial printing,corrugated packaging, inkjet printing

END MARKETSECTORS

Driving materials innovation – We continually extend the boundaries of what is
possible, using our team’s expertise and the latest technology to create materials
that deliver new levels of performance and efficiency. We empower our people tochallenge the status quo and pursue innovative solutions.

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24% Automotive OE
42% Replacement Tire

19% Infrastructure/Industrial
15% Consumer/Other

We will leverage our strengths to lead in performanceand sustainability — today and into the future.

GROW

INNOVATE

Investing foradvantaged growth.

Developing innovative
products and processes
that enable a better future.

OPTIMIZE
Driving continuous
improvement ineverything we do.

GRI 2-2, 2-6 | TCFD Strategy (b)7

CABOT 2023
2022 SUSTAINABILITY REPORTOur Approachto Sustainability& ESG
8

CABOT 2023 SUSTAINABILITY REPORT

Sustainability Pillars & Strategy

9

Board Governance & Oversight

10

Ethics, Compliance & Accountability

10

United Nations Global Compact

12

Message from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Our Approach to Sustainability & ESG
In a world that faces considerable economic, social, and environmental challenges, we believe that we can unite ourpeople and utilize our expertise and resources to deliver contributions that make a positive difference. Our sustainability
commitment articulates our vision for fulfilling our shared purpose.

Sustainability Pillars & Strategy
Our sustainability pillars and strategy define the why, what, and how we will act on our sustainability commitment.

Why We Do It

How We Will Do It

Our sustainability commitment is deeply rooted inour culture of leadership and excellence. We seek
to be a leader in the industry, not only in safety andenvironmental performance, but also across a broad
range of sustainability matters that include key socialand governance priorities. We believe that long-term
success requires a commitment to sustainability
informed by our shared purpose and values andbalanced by input from a broad set of stakeholders.

We will achieve our sustainability ambitions by leveraging
our strengths and utilizing a multifaceted approach
focused on four key elements.

What We Do
To reach our aspirations, we have defined strategic
initiatives and goals organized under three pillars —Building a Better Future Together, Acting Responsibly for
the Planet, and Caring for Our People and Communities.
These pillars are informed by what is most material
and relevant to Cabot and through engagement with
our diverse stakeholders.

Innovation – We will identify and make investments in
product innovations and technology advancements that
support environmental progress, including the transition
to net zero and advancing a more circular economy.
Collaboration – We will expand and deepen ourcollaboration with customers, suppliers, governments
and outside experts. Together, we will work to advancenew technologies, products and infrastructure thatenhance our collective sustainability performance.
Advocacy – We will advocate for effective regulatory
frameworks and policies as well as the developmentof new standards and methods to support long-termsustainability initiatives.
Leadership – We will drive a culture of sustainability
leadership both internally and externally. This leadershipstance includes setting near-term objectives throughour 2025 sustainability goals and planning for longerterm actions to help us achieve our net zero ambition by
2050. We will share best practices and actively engage
with industry groups and business partners across ourvalue chain to foster a sustainability mindset.

Our Commitment to Sustainability
Through our commitment to operate
responsibly, conserve resources, anddevelop innovative performance materials,
we will be relentless in our pursuit of solving
sustainability challenges and achieving
our net zero ambition.

Our Sustainability Pillars
BUILDING A BETTER FUTURE TOGETHER
We collaborate with our customers and develop
products that address sustainability challenges

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We work with our suppliers to improve sustainability
across our value chain
We create long-term economic value forcontinued growth

CARING FOR OUR PEOPLE AND COMMUNITIESWe are a leader in our industry in safety performance

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We provide opportunities for our employees todevelop and advance in their careers
We foster a diverse and inclusive workplace where
everyone is valued
We support our communities through active
engagement and responsible business practices

ACTING RESPONSIBLY FOR THE PLANET
We set a high standard for environmental compliance

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We innovate to reduce our environmental footprint
We look for ways to increase circularity andconserve resources
TCFD Strategy (a)(b)9

CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

About this Report

Appendices

Board Governance & Oversight

Ethics, Compliance, & Accountability

Our Board of Directors is responsible for overseeing the execution of our strategy.
This includes oversight of critical issues related to a variety of topics such as climatechange and an evolving regulatory environment, among others, to the extent identified
as having a material impact on our business, strategy or operations.

Our sustainability commitment is guided by our core values of integrity, respect,
excellence, and responsibility, and is supported by a social and governance foundationalframework that includes our Human Rights Policy, Code of Business Ethics, labor
practices, and a set of compliance and accountability policies and practices.

Our Board currently consists of 11 members. We have separated the positions of Chair of
the Board and CEO, as our Board believes that this leadership structure allows our CEO
to focus on the strategic and operational aspects of our business while allowing the
Non-Executive Chair to provide independent leadership for the Board. The Board’s Audit
Committee; Compensation Committee; Governance and Nominating Committee; andSafety, Health, Environment and Sustainability (SHE&S) Committee each consist entirelyof independent directors.
Our Board of Directors (either directly or through its committees):uOversees Cabot’s strategy, business development, capital structure andcountry-specific risks
Oversees the quality and integrity of Cabot’s financial statements, internal controls
regarding financial reporting, compliance with legal and regulatory requirements,and ethics and compliance program

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Our Core Principles
We believe that integrity and execution of our ethics and compliance priorities are key
to maintaining our reputation and enabling sustainable, long-term business growth andsuccess. Our Code of Business Ethics, Human Rights Policy and other related policies set
forth the principles for how we interact with colleagues, customers, suppliers, regulators,
shareholders and communities, and how we market our products and services.
These policies specifically align with the following principles and best practices:

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Oversees Cabot’s enterprise risk management processes and cybersecurity program
Oversees the effectiveness of SHE&S programs, initiatives, and matters related to
stewardship and sustainability of our products and manufacturing processes
Oversees CEO and senior management succession planning and development,compensation and benefits programs, talent recruiting and retention, and diversity
and inclusion programs
Evaluates the performance and sets the compensation of our CEO and otherexecutive officers

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BROAD EXPERTISE

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International
Manufacturing
R&D/Technology
Strategy
Sustainability~30% of independent directors
are female, including afemale chairperson
Among 10 US-based Board members,

3 identify as people of color

STRONG GOVERNANCE~7 Years
average tenure

90% of directors are
independent, including
an independent chair

CABOT 2023
2022 SUSTAINABILITY REPORTThe prohibition of harassment and the protection of equal treatment of all in theworkplace, regardless of race, color, ethnicity or national origin, religion, genderor gender identity, sexual orientation, age, disability, veteran status or any otherlegally protected status
The right of freedom of association and assembly
Performance-based compensation in line with local market practices that meetsor exceeds the legal minimum wage
Regular working hours, breaks and paid vacation for our employees in compliancewith local law
The right of our employees to work in a safe and healthy environment throughthe implementation of strong safety, health and environmental programs

Supporting Human Rights & Labor Practices
DIVERSITY

Accounting/Finance
Automotive
Chemical Industry
Corporate Governance
Cybersecurity/Digital

The prohibition of forced labor, human trafficking and child laboruBOARD OF DIRECTORS AT A GLANCE

10

Our Performance

We believe respect for human rights is a cornerstone of a sustainable business. As asignatory of the UN Global Compact, which includes a commitment to the fundamental
principles of human rights, we support and respect the protection of internationallyproclaimed human rights and see it as the foundation of how we deliver progressagainst the UN Sustainable Development Goals. Our business practices seek to ensure
the well-being of our employees, contractors, suppliers, customers, and the communities
in which we operate. We believe that every individual has the right and deserves to

Dedicated SHE&S Committee
focused on safety, health, environment,
and sustainablility matters

GRI 2-9, 2-10, 2-11, 2-12, 2-13, 2-17, 2-18, 2-23, 405-1 | TCFD Governance (a)Message from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendicesbe treated with dignity, honesty, integrity, respect and fairness. We are committed tocomplying with all applicable laws and standards related to human rights and labor
practices in all of our operating locations and to providing equal opportunity for all
employees at all levels.

supplementary training and additional guidance from our International Anti-Corruption
Compliance Manual may also be required to uphold our strict expectations for ethicalbusiness conduct. The Code of Business Ethics is publicly available and posted on
our website.

We strive to provide safe, fair and equitable working conditions for every employee incompliance with applicable laws and standards. This commitment is embedded at every
level of our organizational structure. We seek to further our use of policies, training andprocesses to advance this commitment across all areas of our business.

In addition, we believe we have an opportunity and an obligation to positively impact
the protection of human rights within our direct supply chain. We expect our suppliers
to share our commitment to respect human rights. As set forth in our Supplier Codeof Conduct, suppliers are expected to adhere to our Code of Business Ethics which insome cases demands higher standards than required by local law. Pursuant to the
California Transparency in Supply Chains Act, we have posted a statement on our
website that suppliers are expected to comply with all applicable laws and standards
related to labor practices and human rights.

Our operating practices are also guided by our Human Rights Policy and the followinginternational standards:
Universal Declaration of Human Rights

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International Covenant on Civil and Political Rights
International Covenant on Economic, Social and Cultural Rights
The International Labor Organization’s (ILO) Declaration on Fundamental Principles
and Rights at Work
UN Guiding Principles on Business and Human Rights

We are committed to fairness when addressing employee concerns regarding wages,
working hours, benefits and conflict resolution. In 2022, approximately 34% of our global
workforce was covered by collective bargaining agreements. Additionally, approximately
3% of our employees were covered by trade unions or works councils.

Our Code of Business Ethics, Anti-Corruption& Antitrust AwarenessOur people hold themselves and each other responsible for acting ethically and honestlyin their business activities. We have adopted a Code of Business Ethics that applies
to all our employees, officers and directors. The Code establishes basic principles foreveryone who works at Cabot, outlining responsibilities across all aspects of businessactivities. The Code clearly defines Cabot’s expectations of employees across multiple
risk areas, including anti-corruption, antitrust, international trade laws, conflicts ofinterest, gifts and entertainment, proper use of social media, labor practices, humanrights and protection of privacy.
We require that all employees, suppliers and customers conduct business in accordancewith the highest ethical standards and in full compliance with all applicable anti-bribery
laws and regulations. To support this position, we have developed detailed policies,
compliance procedures and training. All employees are required to undergo annual training
on our Code of Business Ethics. Based on an employee’s role and job responsibilities,

Enterprise-wide Risk Management
We recognize that prudent risk management is necessary to deliver long-term,
sustainable shareholder value. We must understand and manage potential impacts ofrisks and opportunities across our entire enterprise. Our corporate-level enterprise-riskmanagement (ERM) process is the foundation of our risk oversight activities.
Our Board has ultimate responsibility for risk oversight and oversees our corporate
strategy, business development, capital structure and country-specific risks. These
include business continuity risks, including climate-related risks, if identified as having
a material impact on our business, strategy or operations. Each Board Committee
oversees the management of certain risks and opportunities within their area of
responsibility, and the Audit Committee oversees management’s implementationof our risk management process.
The Board’s role in risk oversight is consistent with Cabot’s leadership structure inwhich management has day-to-day responsibility for assessing and managing
Cabot’s risk exposure, and the Board oversees those efforts, with emphasis on our
most significant risks. Cabot management is primarily responsible for day-to-day risk
management practices and annually engages in a formal enterprise-wide risk assessmentthat is discussed and reviewed with the Board. Within our sustainability program, we
use several tools to identify and prioritize risks and opportunities that are included
in our ERM process, including our sustainability materiality assessment, stakeholder
engagement process and climate scenario analysis as a part of our Task Force on
Climate-related Financial Disclosures (TCFD) activities. The goal of our ERM programis to comprehensively identify, evaluate and mitigate key risks across all of Cabot’s
operations and businesses.

GRI 2-15, 2-23, 2-24, 2-25, 201-2 | SASB RT-CH-530a.1 | TCFD Governance (a)(b), Risk Management (b)(c)11

CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Accountability

ComplianceIn our operations, we expect each employee and contractor to act lawfully toward otherassociates, colleagues, business partners and those in local communities. Each year,
employees are required to complete training on our Code of Business Ethics, and otherrelevant policies and programs. Beyond our training requirements, we encourage
employees and contractors to ask questions, raise concerns and report suspectedviolations of our policies or the law. We have a variety of reporting mechanisms,
including an online reporting tool and a compliance-reporting hotline managed bythird-party representatives available 24 hours a day, seven days a week, both withthe option of submitting anonymous reports.

The Office of Compliance oversees Cabot’s compliance with relevant laws and regulations,as well as investigates allegations of misconduct or non-compliance, including withrespect to Cabot’s Code of Business Ethics, Human Rights Policy, International AntiCorruption Compliance Manual and other relevant policies. In 2022, we received andinvestigated 21 reports. Where appropriate, we took disciplinary action, such ascoaching, adverse impact on paid incentive compensation and/or termination of
employment. All accounting/financial issues reported through Cabot’s hotline andonline reporting tool are sent directly to the Chair of the Audit Committee. In addition,
Cabot’s General Counsel updates the Audit Committee of the Board on a quarterly
basis regarding reports received by the Office of Compliance.

As a responsible corporate citizen, we are aware of the important role that we play inthe local communities where we operate. We respect the rights of local communities
and those who live and work there, consistent with international standards regarding
human rights, labor, environment and anti-corruption. We strive to monitor and actively
engage with stakeholders and positively impact those communities through our actions
and the charitable programs we support.

United Nations
Global Compact

MAPPING OUR SUSTAINABILITY PILLARS TO THE UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALSBUILDING A BETTER FUTURE TOGETHER

As a proud signatory of the United Nations Global
Compact (UNGC) since 2015, we seek opportunities
to address the needs of society and the environment
through our operations and our actions. We arecommitted to aligning our strategies, businesspractices and sustainability goals with the UNGC’s
ten universal operating principles.

BUILDING A BETTER
FUTURE TOGETHER

We also support the advancement of the UN Sustainable
Development Goals (UN SDGs). Our sustainability goals
have been mapped and align at some level with 13of the 17 UN SDGs. By taking actions to advance oursustainability goals, we believe we can make thegreatest contribution to the UN SDGs.

ACTING RESPONSIBLY
FOR THE PLANETACTING RESPONSIBLY FOR THE PLANETCARING FOR OUR PEOPLE AND COMMUNITIESCARING FOR OUR PEOPLE
AND COMMUNITIESGRI 2-16, 2-23, 2-24, 2-25, 2-26, 2-27, 2-30

12

CABOT 2023
2022 SUSTAINABILITY REPORTCreating a
Sustainable Future
13

CABOT 2023 SUSTAINABILITY REPORTSupporting Our Net Zero Journey

14

EVOLVE® Sustainable Solutions
Technology Platform

16

Winning the Sustainability Transition
with Battery Materials

17Message from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Supporting Our Net Zero Journey
Climate change is a critical and defining issue of ourtime, and we understand the urgency with which weneed climate solutions and are committed to doing
our part to support the transition to a low-carbon
future. We also recognize that this commitment
requires considering a long-term strategic view ofour business objectives and the important role our portfolio of products play in thelower carbon future. This necessitates multi-faceted technical solutions that our
chemistry enables.
As a leader in our industry, we are working hard to do our part in supporting thetransition towards net zero emissions. While we remain focused on achieving our
2025 GHG and energy goals, we also know more robust actions will be necessary.
To this end, we announced our ambition to achieve net zero emissions by 2050 insupport of the objectives established by the Paris Climate Agreement.
Throughout the years, we have focused on reducing our impact and our net zeroambition is a natural progression in our sustainability journey. Our ambition builds
upon the strong foundation of our long-standing commitment to sustainability andwill help to strengthen our competitive position and create value for our stakeholders
as we advance our efforts to achieve a lower emissions environment.

We recognize that embarking on this journey will take time and requires action,
collaboration, innovation and supportive public policy. Supporting a broader climatetransition is an ambitious and continuous improvement journey that we expect
will include:
Investing in resources and existing technologies to optimize our operations, including
improvements in energy efficiency and waste reduction

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Developing new and innovative products that have sustainability attributes that
decrease GHG emissions and enable the world’s transition to a lower-carbon economy
Maximizing the use of renewable energy in our operations
Focusing on advancing circularity in our operations and our customers’ products
Identifying ways to adopt new technologies in our global network of plants
Partnering with our suppliers to enhance the eco-efficiency of our supply chain

We value collaboration and are committed to engaging with our customers,
suppliers and other stakeholders to encourage collective action and help promote
the innovations needed to enable a net zero future. Furthermore, we are working toaccelerate our climate aspirations by embedding net zero considerations throughout
our business practices and activities while remaining accountable and reportingtransparently on our progress.

SASB RT-CH-110a.2 | TCFD Strategy (a)(b), Metrics and Targets (c)14

CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Establishing an ESG Governance Structure
As part of our efforts to further integrate sustainability throughout the organizationand ensure accountability, we enhanced our governance practices for environmental,social and corporate governance (ESG) matters by establishing a formal governancestructure managed by an ESG Steering Committee. The purpose of this governancestructure is to enable us to successfully implement our sustainability strategy acrossthe company, manage goal setting and reporting processes, strengthen relations with
our various stakeholders, and ensure we are making the needed progress to achieve ourlonger term ESG objectives.

The ESG Steering Committee is comprised of the members of our executive management
committee and chaired by our CEO. Separate committees and subcommittees that reportto the ESG Steering Committee have been established with specific responsibilities related to environmental, social and governance matters as set out in their committee andsubcommittee charters and are resourced by teams across the company and chairedby one or more members of our executive management team. Each of the committees
is expected to provide recommendations to the ESG Steering Committee related to thework, priorities and resources necessary for their respective committee.

ESG Governance Structure and Scope
ESG Steering Committee
Chair: CEOSOCIAL

GOVERNANCE

Chair: CSO

Chair: CHRO

Chair: CFO/General Counsel

SCOPE

SCOPE

Environmental Subcommittee

Climate Subcommittee

Commercial Subcommittee

SCOPE

SCOPE

SCOPE

Environmental sustainability:

SO2/NOX emissions intensityu 
Water intensityu 
Waste & spillsu Environmental complianceu Sustainability culture& engagementu 
Sustainable bestpractice sharingu

ENVIRONMENT
GHG emissions intensityEnergy exportu 
Scope 1 & 2 datacollection processu 
Climate/GHG strategyu 
Renewable procurement
strategy



u

u

u


Product and suppliers’
sustainabilityu 
Sustainability branding andcommunicationu 
Scope 3 GHG emissionsu Life cycle assessment processu 
Customer requests processu 
Product ESG claims
guidance/trainingu 
ISCC PLUS certificationand strategyuSocial responsibility
Diversity, equity & inclusionu 
Human rightsu 
Talent, training, & developmentu 
Safety (occupational andprocess safety management)u Community engagement

Disclosures
Risk managementu 
Ethicsu 
Board oversightu 
Economic benefit

u

u

u

u

GRI 2-12, 2-13, 2-14, 2-16, 2-24 | TCFD Governance (a)(b)15

CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

EVOLVE® Sustainable Solutions Technology Platform
Increased environmental pressures are driving greater demand
for sustainable reinforcing carbon solutions that support
a circular, sustainable economy as well as decrease GHG
emissions. In order to develop sustainable materials to meetthis demand, Cabot recently created EVOLVE® Sustainable
Solutions, a technology platform for advancing sustainablereinforcing carbons.
The introduction of EVOLVE Sustainable Solutions is an important step in our journey
to develop new ways to create materials that improve daily life and enable a moresustainable future. Our ambition through this technology platform is to develop
breakthrough sustainable products and process technologies that deliver the
performance, quality and consistency that the industry requires at scale.
Products powered by EVOLVE Sustainable Solutions are designed to deliver sustainable
content with reliable performance at industrial scale. Specifically, the platform isdesigned to deliver reinforcing carbons across three sustainability categories:

REDUCED
Reinforcing carbons made with a reduced GHG footprint from decarbonization
technologies, such as emissions capture technologies and other decarbonization
processes such as CO2 conversion.
For reinforcing carbons recovered from circular value chains, our innovative carbon
black production process uses the products from the pyrolysis of end-of-life tires (EoLTs)– tire pyrolysis oils (TPO) and reclaimed carbons (rC) – and converts them to reinforcing
carbons for use in tire production.
Products produced using TPO offer the same quality and performance as our traditional
reinforcing carbons and can be used as drop-in solutions. The products are produced
by Cabot and will be fully International Sustainability & Carbon Certification (ISCC)
certified. These products are available in variety of reinforcing and semi-reinforcing
grades, including the recently launched VULCAN® 7H-C circular reinforcing carbon.
TPO

Carbon Black Production

RECOVERED
Reinforcing carbons from circular value chains that are produced using materials
recovered from end-of-life tires, such as tire and plastics pyrolysis oils through an
ISCC PLUS mass balance approach or reclaimed carbons co-pelletized with virgincarbon blacks.

Tire Production

Circular Carbon Blacks
with Sustainable Content

New Tires

Reclaimed Carbon (rC)
Used Tires

RENEWABLE
Reinforcing carbons made from renewable materials, such as bio-based feedstocks
through an ISCC PLUS mass balance approach and from bio-based particles.

Pyrolysis
Tire Pyrolysis Oil (TPO)

Local Partner

About ISCC PLUS Mass Balance
International Sustainability & Carbon Certification (ISCC) is a globally applicablecertification system designed to ensure compliance with ecological and social
requirements, greenhouse gas emissions savings and traceability. Mass balanceaccounting is a chain of custody approach designed to trace the flow of materials
through a complex value chain. It is well suited to address the challenges of tracking
the flow of recycled feedstock in the chemical industry. The demand for recycledmaterials from downstream customers is crucial to drive the development of chemicallyrecycled materials. Furthermore, increasing shares of recycled content in products is
one of the key ways for a business to transition to a circular economy approach. The
mass balance approach provides a set of rules for how to allocate the recycled content

to different products to be able to claim and market the content as “recycled.” As part ofour commitment to transparency, we are working on achieving ISCC PLUS certification
for multiple sites globally.
Circular feedstocks

Product A
Product B

Feedstocks

ISCC

Product C“Free attribution” of the sustainable share to one or several outputs

GRI 306-2, 308-2 | TCFD Strategy (b)(c)16

CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

AppendicesWinning the Sustainability Transition with Battery Materials
Our businesses are connected to several key macrotrends including a rapidly changing
mobility landscape and an increasing focus on sustainability and climate driven
innovations. Our product portfolio connects to these important macrotrends in diverse
ways, and the potential for innovation and growth is compelling. Specifically, as themobility landscape shifts to electric vehicles (EVs), automakers are faced with a numberof challenges from the desire by the consumer for longer range, faster charging, increased
safety and longer-lasting batteries. These attributes present excellent opportunities
for us to deliver a wide range of solutions to address technical challenges, including
conductive additives, carbon nanotubes, carbon nanostructures, fumed silica, fumed
alumina and aerogel.
EVs are helping to create a more sustainable future by reducing carbon emissions
associated with internal combustion engines. Consumer demand for EVs has risen
significantly over the past few years and it is expected to grow dramatically in the
coming years. The global trend of electrification requires lithium-ion batteries to deliver
higher performance, safety and reliability at the same time. As a leading performancematerials company and battery materials supplier, we recognize that we have a criticalrole to play in electrification of the fleet and stationary energy storage. Our products andexpertise enable our customers to achieve their goals of making more efficient, longer
life lithium-ion batteries for a more sustainable EV and battery storage future.
Specifically, conductive additives are an essential component of lithium-ion battery
chemistry and are used to provide electrical conductivity to battery active materials.
They play a critical role in lithium-ion battery chemistry and provide a pathway forelectrons to move within the anode and the cathode, which enables charging anddischarging. We have the broadest portfolio of conductive additives in the market
including conductive carbons, carbon nanotubes (CNT), carbon nanostructures (CNS)
and blends of conductive additives to deliver optimal performance. We can provide
our conductive additives as powders or dispersions, depending on the needs of ourcustomers. Additionally, our global footprint of manufacturing assets, technology labs
and commercial resources enables regional supply security to support our customers.
We have invested and developed a broad portfolio of high-performing conductive
additives that serve the leading producers of lithium-ion batteries for EVs. In addition
to conductive additives, we are expanding our business of battery materials into otherareas including fumed alumina for separator and cathode active material coatings. Our
aerogel technology can also be integrated into thermal barriers for lithium-ion batteries,
helping to meet the increasing safety and performance demands of the battery electricvehicle market. Furthermore, we are exploring opportunities for further research anddevelopment, including through external partnerships, for greater performance, higher
efficiency and extended lifespan of battery materials.
The pace of adoption of EVs and grid connected energy systems has resulted in the
rapid increase in demand for lithium-ion batteries. Batteries play a key role in theshift to a more renewable, sustainable and low-carbon future. As demands on battery
manufacturers grow with the increased use of advanced batteries in the automotive
industry and storage of electricity on the grid, battery manufacturers are looking toperformance materials to support the next generation of lithium-ion batteries. We bring
the scale, technological depth and proven solutions to help address the needs of battery
manufacturers while helping to accelerate innovations in battery technology which will be
key enablers in the journey toward a more sustainable future.

SASB RT-CH-410a.1 | TCFD Strategy (b)(c)17

CABOT 2023
2022 SUSTAINABILITY REPORTOur Performance

18

CABOT 2023 SUSTAINABILITY REPORTOur 2025 Sustainability Goals

19

Building a Better Future Together

20

Acting Responsibly for the Planet

24

Caring for Our People & Communities

30

Message from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

AppendicesOur 2025 Sustainability Goals
Our 2025 Goals are a comprehensive set of objectives and performance targets1 developed to drive accountability and continuous improvement for addressing our 11 material topics.

Building a Better
Future Together

Acting Responsibly
for the Planet

Caring for Our People
and Communities
CARING FOR OUR PEOPLE
AND COMMUNITIESBUILDING A BETTER
FUTURE TOGETHERACTING RESPONSIBLY
FOR THE PLANETECONOMIC VALUE GENERATED & DISTRIBUTEDu Invest $1B in capital and technology

ENVIRONMENTAL COMPLIANCE
u 
100% of facilities certified with anenvironmental management system

OCCUPATIONAL HEALTH & SAFETYu 
Reduce injuries and significant process
safety events by 50%

ENERGYu 
Export 200% of the amount ofenergy imported

RETENTION, DIVERSITY & DEVELOPMENTu Foster inclusion and support developmentu Increase diverse representation

PRODUCT SUSTAINABILITYu 
Assess sustainability impacts of our top
product applicationsu 
100% of our new product and processdevelopment projects will have asustainability benefit

EMISSIONSReduce greenhouse gas emissions
intensity by 20%
u Reduce NO emissions intensity by 50%
X
u Reduce SO emissions intensity by 40%
2u

SUPPLIERS’ SUSTAINABILITYEngage our key suppliers on sustainabilityu

COMMUNITY ENGAGEMENT

100% of our locations engaged
in communities
u Invest $10M to help our communities thriveu

WASTE & SPILLSu 
Reduce waste disposal from operations
by 20% and ultimately eliminate
manufacturing waste
WATER
u Reduce water withdrawal intensity by 20%

1Target: 2025. Baseline: 2019, except NOX, SO2 (2012) and GHG (2005). Capital and community investments: our FY2020 – FY2025.

GRI 3-2 | TCFD Metrics and Targets (a)(c)19

CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Building a Better Future Together
Through our “Creating for Tomorrow” strategy, we will focus on growing, innovating and optimizing to enable a more sustainable future.
In 2022, we continued to make strategic investments — both financially and within our operating platform — to embed sustainability moredeeply in our key business decisions and short-, medium- and long-term planning activities.
BUILDING A BETTER
FUTURE TOGETHER

Economic Value Generated & Distributed
Throughout our operational activities we create value for a wide variety of stakeholders,
including shareholders, investors, employees, suppliers and contractors, government
authorities and local communities. We had strong financial performance in 2022, delivering record adjusted earnings per share2 of $6.28 and operating cash flow of $100
million. We generated record discretionary free cash flow2 (DFCF) of $393 million andfrom fiscal year (FY) 2015 to FY 2022, we returned 64% of DFCF to shareholders throughdividends and share repurchases. In 2022, we invested $319 million and exceeded our
performance against our 2025 goal to invest $1 billion in capital and technology.
With our “Creating for Tomorrow” strategy, we continue to leverage our strengths andinvest for advantaged growth. We aim to accelerate our growth by continuing to win in
our core markets and increasing our share in applications with significant growthpotential. We are strategically focused on battery materials and the opportunity tocapitalize on the high growth potential that comes with the transition to electricvehicles. To support this strategy, we are executing a range of investments includingcommencing operations at our Xuzhou, China plant that supports capacity growth inboth battery materials and specialty carbons.
In March 2022, we completed the sale of our Purification Solutions business which
we announced in November 2021. We also announced the acquisition of Tokai Carbon(Tianjin) Co., Ltd., a carbon black manufacturing facility in Tianjin, China, which will
support the growth of conductive carbons for our high-growth battery materials
business. We also completed the first phase of a carbon nanotube dispersion capacity
expansion at our Zhuhai, China facility which added 25% capacity in FY 2022 and thenext phase of expansion is expected to be completed by the end of calendar year
2023. During FY 2022, we also began the first phase of a plan to double capacity at
our inkjet manufacturing facility in Haverhill, MA, USA. The first phase was completed
and commissioned in mid-2023 with the remaining capacity expected to be completed2

by 2025. This will enable our inkjet product line to meetthe growing demand of digital printing in commercial
and packaging applications which enables moresustainable printing.
In 2022, we also continued to invest in air emissions
controls and initiated the construction of air pollution
control and energy recovery system projects inVille Platte, LA, USA with completion of this project
anticipated in 2024.

Successful Upgrade and Start-up
of Specialty Carbons Facility
In late 2018, we announced a strategic acquisition in Xuzhou,
China to support our specialty carbons business. The site wastemporarily mothballed to perform maintenance and upgrade
manufacturing equipment, process technology and environmental
control technology to ensure alignment with our industry-leading
SH&E, quality and service standards. On April 7, 2022, wecommenced operations at our facility in Xuzhou, China and by
May 2022 all lines were running. The start-up of the Xuzhou plant
supports our efforts for our capacity and capabilities to match regional supply
and demand and also helps create flexibility to produce a diverse portfolio of
products to meet current and future customer requirements for specialty carbons.
Furthermore, it enables us to optimize capacity within our network to support
battery materials growth.

 on-GAAP measures. For definitions and reconciliation to the most directly comparable U.S. GAAP measure, see supplementalN
information for Non-GAAP Reconciliations located at cabotcorp.com/investors under Financials.

GRI 201-1

20 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Product Sustainability
Since the 2021 launch of our product sustainability assessment framework, our R&D teams have successfully beenusing this decision-support tool to prioritize sustainability in product and process development. This comprehensive
process evaluates new product and process development projects for safety, environmental, and health impacts andincludes more than 40 questions about sustainability impacts ranging from air emissions to circularity, potential safety
risks to workers and other aspects. The assessment also considers the positive impacts our projects can have inenabling growth in applications such as electrical vehicles and renewable energy. The assessment covers sustainability
impacts across the product life cycle from design to manufacturing, use and end of life. For each potential impact, thenew product is rated in comparison to an existing benchmark, and the results are scored. Projects can move forward in
the stage-gate process if they are given a “promote” or “progress” classification; otherwise, they must undergo further
assessment or may be restricted or eliminated altogether. From the assessments completed in 2022, 93% of active
projects that were assessed had a positive sustainability benefit. We have shown year on year progress in striving
toward our 2025 target that 100% of new products and process development projects will have a sustainability benefit.

PRODUCT SUSTAINABILITY ASSESSMENTS
Active Projects in Stage-Gate Process December 2022

73
96

4
5
3
PromoteRestrict

Progress
Eliminate

AssessWithout Sustainability
Benefit

7%
NEW
DEVELOPMENT
PROJECTSASSESSED FOR
SUSTAINABILITYIMPACTS

E2C® Solutions Named to ERJ’s “Top 10 Elastomers for Sustainability” List
Since early 2020, European Rubber Journal (ERJ) has published the “Top 10 Elastomers for Sustainability” list thatranks the most important current R&D projects focused on enhancing the sustainability of elastomers/rubbermaterials as determined by an expert judging panel based on: quality of the presentation, level of innovation, uniqueselling proposition, commercial potential and contribution to sustainability. Our engineered elastomer composites(E2C®) product line was first named to the inaugural list in 2020 and was listed for the second time in 2022. The E2C
product line received the accolade for its expansion of use in retreading applications for off-the-road (OTR) tires.
Notably, E2C helps deliver premium performance that maximizes the life of retreads, improves the productivity andefficiency of mining operations, and reduces impact on the environment in this application.

With
Sustainability
Benefit93%2025 Goal: 100%of New Development
Projects have a Sustainability Benefit

GRI 416-1 | SASB RT-CH-410a.1, RT-CH-410b.2 | TCFD Metrics and Targets (a)(b)21

CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Improving Circularity through Life Cycle Assessments
As we continue to strengthen our sustainability efforts, we believe it is critical that we understand the potential
environmental impacts of our products from cradle to gate. We plan to initiate cradle-to-gate life cycle assessments(LCAs) within our product portfolio to enable us to understand and communicate the potential environmental footprintsof our products. Through this effort, we aim to provide a holistic view of all stages of our value chain, from raw material
extraction to end-of-life disposal. The LCAs will enable us to identify opportunities for improvement, make informed
choices and further develop our sustainability strategies. We have developed an LCA strategy that includes aframework to screen, benchmark and obtain quantitative data to ensure more accurate and reliable information
to help us drive manufacturing process optimization, minimize our environmental footprint and contribute to a moresustainable future. Specifically, we have completed a cradle-to-gate LCA of our carbon black products that has helped
us to focus our attention on key opportunities to reduce our overall greenhouse gas footprint and collaborate with ourcustomers regarding Scope 3 emissions. We are actively working to refine this analysis for specific product families
within our carbon black portfolio.

LIFE CYCLE ASSESSMENT OVERVIEWLife Cycle Assessment Demonstrates that E2C® Technology
Enables Reduced Greenhouse Gas Emissions
With an ongoing commitment to deliver solutions that impart sustainability
benefits, we conducted a comprehensive life cycle assessment (LCA) to
examine the potential environmental impact of our E2C® solutions across thevalue chain of a long-haul truck tire. For the LCA, we examined the potential
reduction in net greenhouse gas emissions enabled by utilizing E2C technology
in place of conventional compounds in commercial tire treads. According to theassessment, the E2C DX9640 solution can significantly reduce emissions andenvironmental impacts. Key findings from the LCA demonstrated that the lower
rolling resistance enabled by E2C solutions can improve vehicle fuel economy
and results in up to 5% - 6% avoided GHG emissions. In addition, greater durabilityof tires made with E2C solutions reduces end-of-life tire (EOLT) volumes anddecreases the net emissions from tire production required to outfit a truck
over its total useful life by more than 10%.

Cabot Production

Distribution

Manufacturing/Packaging

Storage/HandlingResource Extraction
Extraction/Transformation

End-of-Life

Customer
Production

Collection/Recycling/
Recovering/Landfilling

Manufacturing/Packaging

Use

Final Product Distribution

Maintenance/Repair/
Refurbishment

Storage/Handling

SASB RT-CH-410a.1

22 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Suppliers’ Sustainability
Our business depends on complex supply chains, and we recognize that our overall sustainability impact often depends
on decisions made in our supply chain. We expect our suppliers to support our sustainability agenda by actively working to
improve their own performance. To aid in these efforts, we continued to make progress to increase transparency acrossour global supply chain. Focusing on aspects such as total spend, single source and the specific needs of our business
operations, we continued to review our list of critical suppliers so that we can better focus our efforts on relationships
with the highest impact potential. We also engaged with a third party to conduct sustainability assessments to evaluate
our critical suppliers using methods that meet the GRI Standards and the principles of the UN Global Compact. By theend of calendar year 2022, we enrolled 60 of our 182 identified critical suppliers into the EcoVadis third-party platform
and are actively working toward a 100% participation rate. This process will help give us a holistic view of our supply
chain’s environmental and social impacts and provide information from which we expect to take strategic actions to
mitigate risk and drive improvements with our business partners.
We also continue to collaborate with suppliers who share our focus on sustainability. One of the focus areas is promoting
electric vehicle truck movements throughout our network of Cabot and customer facilities. In 2022, we added several
new routes in the Benelux region which helps to further reduce our Scope 3 CO2 emissions.

CRITICAL
SUPPLIERSASSESSED FOR
SUSTAINABILITYIMPACTS

33%

Percentage of critical suppliers identified through December 2022
who submitted sustainability scorecards

SUPPLIER SUSTAINABILITYASSESSMENTS BY REGION
Number of Suppliers Assessed

CNG Truck Used to Deliver Raw Materials in Brazil

25

25

Our team in Brazil sought to improve and advance sustainability locally through an initiative to significantly reducegreenhouse gas (GHG) emissions in the transportation of our raw materials. In 2022, our facility in Mauá, Brazil
received its first delivery of raw material from a truck powered by compressed natural gas. To illustrate the reductionof GHG emissions on the approximately 50 km route from Cubatão to Mauá, a natural gas vehicle emits 10% less GHG
emissions compared to a diesel-powered truck. The expectation is to make two trips a day with this vehicle, which
would result in the avoidance of 20 kg of CO2 daily.

10
10

Americas

EMEA

APAC

GRI 2-6, 308-2, 414-2 | TCFD Metrics and Targets (a)(b)

23 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Acting Responsibly for the Planet
Guided by our 2025 sustainability goals and our ambition to achieve net zero by 2050, we took action to make progress on the six material topics
under our environmental pillar. We are proud that we have advanced on several of our goals including achieving our waste goal prior to 2025.
ACTING RESPONSIBLY
FOR THE PLANET

To better inform our decision-making with a holistic view across all areas of sustainability, in 2022 we expanded our analysis of theinterdependencies between the actions needed to address our emissions, energy, water and waste. This integrated approach ensuresthat we are agile and use resources wisely, taking practical and cost-effective steps with a focus on high-impact, high-reward opportunities
over the short- and medium-term to accelerate our actions. In 2022, we also adjusted our environmental baselines to account for thedivestiture of the Purification Solutions business and the acquisition of the former Tokai Carbon operations in Tianjin, China.

Environmental Compliance
Our performance in environmental compliance remained strong in 2022, with a 35% reduction in the number ofenvironmental non-conformances (ENCs), as compared to 2021. ENCs are defined as events resulting in a reportablespill or release, a notice of violation, a public complaint or a permit deviation deemed to be significant. In 2022, we
conducted 11 corporate SHE&S compliance audits at various global sites. In addition, our engineered elastomer
composite plant in Port Dickson, Malaysia, received ISO 14001 management system certification by an external
certifying registrar, contributing to progress toward our 2025 goal.

PROGRESS AGAINST2025 GOAL:
100% CERTIFIED EMS

82%

ENVIRONMENTAL NON-CONFORMANCES
33

2020

31

2021
2022

13

GRI 2-4, 2-27

24 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

EnergyWe reached an important milestone in our 2025 goal of exporting 200% of the energy we import, achieving a new record
amount of energy exports and imported energy per ton of product. As a result, in 2022 we achieved an energy ratio of
214%, exceeding our target of 200%. This accomplishment is the outcome of our actions to improve energy efficiency
and proactively invest in energy recovery systems, which make our facilities energy self-sufficient and net exporters
to nearby businesses and communities. Energy recovery and energy efficiency will continue to be two importantfocus areas of our sustainability strategy while we explore new opportunities to innovate and invest in lower-carbon
production processes.
In 2022, we completed two projects in China supporting our energy goal. At our Xingtai, China facility we completed theinstallation of a new water-cooling condensing system as part of the energy recovery process. This investment allows
for the use of hot water in the local community by supplying about 290 terajoules (TJ) of energy per year. At our Tianjin,
China carbon black facility we upgraded our energy recovery system with a new steam turbine allowing us to increase
our electricity and steam production that is sent to an adjacent neighborhood and industrial park that is used for their
heating purposes.
ENERGY SOURCES

ENERGY USE

Liquid Fuels MM GJ

0.08

0.0%

Purchased Electricity
Renewable MM GJ

0.12

0.1%

Steam MM GJ

0.39

0.3%

Purchased Electricity
Non-Renewable MM GJ

2.43

1.8%

Natural Gas MM GJ

2.46

1.8%

Raw Materials MM GJ

132.4096%

Total MM GJ

137.88100%

Byproduct Gas
Energy MM GJ

MM GJ

124.64103.242020

Steam MM GJ

ENERGYEXPORTED

11.74

2021

2022

Our Ravenna, Italy site is one of our 13 locations
that converts waste heat into useful energy throughlocal partnerships. As of 2022, when compared to our2005 baseline, our energy recovery investments haveenabled our energy customers to avoid approximately
497,000 MT of GHG emissions.

ENERGY RATIO 2025 GOAL

7.16

4.06

126.03

2020
2021

142%
200%

MM GJ

Electricity MM GJ

2022

214%

0.51
GRI 302-1 | SASB RT-CH-130a.1 | TCFD Strategy (c), Risk Management (b), Metrics and Targets (a)(b)(c)

25 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Emissions

Appendices

SO2 EMISSIONS INTENSITY
MT/KMT Production

Nitrogen Oxides (NOX) & Sulfur Dioxide (SO2) Emissions

18.00

17.55*

2020

2021

16.24*In 2022, we made positive progress toward our emission reduction goals. We continued to reduce our SO2 intensity andthrough the end of 2022, we have achieved 56% of our goal. We have successfully achieved our 2025 NOX intensity goal.
In 2022, as part of the NOX and SO2 intensity calculations, Cabot included byproducts in the production values, whichprimarily affects the fumed metal oxides (FMO) division and is a relatively minor portion of the overall production volume.
The completion of our Franklin, LA, USA, air pollution control and energy recovery systems in 2021 resulted in a significant
positive impact in 2022, resulting in emissions reductions of 140 tons of NOX and 813 tons of SO2 when compared
to 2021. The air pollution control project currently under construction at our Ville Platte, LA, USA, facility will also
substantially decrease NOX and SO2 emissions in the future. This project is expected to come online in 2024. To reducethe increased demand of flue gas cooling water needed with air pollution control systems, we are including an energy
recovery system in the scope of the project at Ville Platte. We will continue to explore opportunities and make additional
investments to mitigate emissions in a timely, cost-effective and environmentally responsible manner.

2022

Progress Toward 2025 Goal 56%

NOX EMISSIONS INTENSITY
MT/KMT Production

4.33

3.98*

3.45*

Greenhouse Gas Emissions
We established our first greenhouse gas (GHG) reduction goal in 2009. At that time, we determined that a GHG intensitybased goal was appropriate to ensure that we continued to grow while increasing process efficiency and investing inprocess energy recovery. As a result of portfolio changes in 2022 which included the sale of the Purification Solutions
business, a producer of activated carbon with an intense carbon footprint, we believe it is appropriate to now update
our original 2005 GHG emissions intensity baseline. While adjusting the baseline to reflect our current portfolio, we also
updated our calculation methodologies to be consistent with evolving best practices in GHG accounting and reporting
protocols. As part of this update, we included byproducts in the production values, which primarily affects our fumed
metal oxides product line and is a relatively minor portion of our overall production volume. The data presented in the
figures on the right reflects the revisions consistent with this updated methodology. The collective changes resulted
in a decrease in our 2005 GHG intensity baseline from 2.67 to 2.23 tons of CO2e per ton of product.

2020

2022

2021

ABSOLUTE GHG EMISSIONSMM MT CO2e

3.38

2020

0.31

2021

4.01*

0.34*

By the end of 2022, when compared to the revised 2005 baseline, we increased production of primary products by
4%, decreased absolute GHG emissions by 342,370 MT and decreased GHG intensity by 11%. Additionally, we enabled
our energy customers to avoid approximately 497,000 MT of GHG emissions through our energy recovery investments
and partnerships. This reflects the achievement of 55% of our goal to reduce GHG intensity and enabled a nearly 5-foldincrease to the emissions avoided from our energy exports annually.

2022

4.03*

0.34*

Given the portfolio changes concluded through 2022 and our corresponding reduced intensity, we intend to reset
the baseline year for our 2025 sustainability goals to 2022 going forward and establish a goal to further reduce ourmarket-based GHG intensity by 5% below 2022 levels by 2025. We also intend to establish future interim goals thatwill take us beyond 2025 and support our ambition to achieve net zero by 2050.

2020

1.81

0.17

2021

1.80

0.15

2022

1.83

0.15

Scope 1

Scope 2 (market-based)

GHG EMISSIONS INTENSITY
MT CO2e/MT Production

Scope 1

Scope 2 (market-based)

GRI 2-4, 305-1, 305-2, 305-4, 305-7 | SASB RT-CH-110a.1, RT-CH-110a , RT-CH-110a.2, RT-CH-120a.1 | TCFD Strategy (c), Risk Management (b)(c), Metrics and Targets (a)(b)(c)

26 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Waste & Spills
In 2022, we adjusted our waste goal to reflect changes in our portfolio by removing the volumes associated withthe divestiture of the Purification Solutions business and accounting for the additional waste associated with ourunderground injection well operation at our fumed metal oxide (FMO) plant in Tuscola, IL, USA. Operations have changed
within the Tuscola facility to treatment and packing of finished products generated in our other FMO locations. The
shift of production from our Tuscola facility to our Carrollton, KY, USA facility created the opportunity to partner with our
fence-line neighbor, a Dow silicone facility, to supply a beneficial waste stream for use in their processes and for Cabot
to achieve a reduction in waste disposal from the Carrollton and Tuscola facilities.
In 2022, we achieved an important milestone and met our 2025 waste goal of reducing disposal from our operations
by 20%. Overall, our total waste disposal decreased by 24% from 2021, and 57% from our 2019 baseline volumes.
Following the waste minimization hierarchy in our approach, we have a robust program to minimize production of
off-quality products, increase beneficial use of wastes which were formerly disposed of, and develop waste reductionplans to drive improvements. We are actively working to further reduce our waste disposal and increase beneficial
re-use of waste such as a gypsum by-product from our air pollution control systems at some of our facilities. For
example, we expect our Franklin, LA, USA, facility will divert the gypsum generated as beneficial re-use to otherapplications such as fertilizer for agricultural operations and production of construction materials.

Spills Management
In conjunction with minimizing waste, our spills management program aims to reduce the risk of spills and ensurethat controls are in place if a spill or release occurs. We define significant spills as both reportable to an agency andclassified as Tier 1 and Tier 2 process safety events. In 2022, we observed improvement from previous years and did
not have any spills that qualified as a significant classification.

2022 WASTE DISPOSAL
Methods

Non-Hazardous Hazardous

Reused or Recycled KMT

24.43

3.82

Incinerated with
Energy Recovery KMT

2.80

0.21

Incinerated without
Energy Recovery KMT

0.29

1.61

Deep Well Injection KMT

0.00

133.06

Landfilled KMT

26.75

0.05

Other KMT

0.41

0.87

BENEFICIALLY REUSED MATERIALS
Reused Waste Volume (KMT)

2020

2021

19.44
25.93

2022

ABSOLUTE WASTE GENERATIONABSOLUTE WASTE DISPOSAL

Waste Volume (KMT)

Waste Volume (KMT)

414.22

Cabot’s beneficial reuse metrics include recycling, reuse,
and incineration with energy recovery.

424.54190.90214.06

139.62

29.76

49.08

54.68

2020

2021

2022

Non-Hazardous

31.27

163.04

2020

2021

2022

Hazardous

GRI 2-27, 306-1, 306-2, 306-3, 306-4, 306-5 | SASB RT-CH-150a.1

27

CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

AppendicesBillerica Waste Reduction Projects
In 2022, our Billerica, MA, USA facility reduced waste generated and disposed of from the facility through several initiatives including
the implementation of a campus-wide food waste composting program, as well as the beneficial re-use of waste rubber and reinforcing
and specialty carbons material.
Each year, our Billerica facility produces spent reinforcing and specialty carbon and rubber material as part of the research anddevelopment of our products. Previously, this waste material would be either landfilled or incinerated once it left the facility fordisposal. The Billerica team collaborated with Quantum Polymer Composites, LLC who processed the material to be used in low-end
applications such as rubber for floor mats, additives in asphalt, and color pigments used in flower pots and pallets. As a result, we
eliminated approximately 35 tons of reinforcing and specialty carbon and rubber waste from disposal through beneficial re-use.
In addition to recycling waste from production processes, the SH&E team in Billerica partnered with locally owned Black Earth Compost
to implement a food waste composting program on the campus. Throughout the year, approximately 8,000 pounds of food waste wasseparately collected in dedicated bins at the facility. The food waste was then processed into compost that is used in home gardensand yards, as well as for local farming and landscaping needs.

Water
We achieved 43% of our 2025 goal to reduce water withdrawal intensity by 20% compared to a 2019 baseline.
Our absolute water withdrawals were reduced 6% compared to our 2019 baseline.
In 2022, all eight of our North American facilities completed watershed risk, water balance and efficiency assessments
following the American Chemistry Council’s Water Risk Assessment pilot program. Our Haverhill, MA, USA inkjet
manufacturing facility defined water intensity, gathered baseline data, and set a goal of 20% water use reduction.
Within the first year of the project, the site met its reduction goal of 20% and has continued to achieve reductions inwater usage. In Asia Pacific, our Shanghai, China manufacturing facility also completed a water balance assessment.
Based on the findings, the site implemented several water saving improvements that resulted in the facility being
recognized as one of the “Shanghai Municipal Water-Saving Enterprises,” a recognition jointly issued by the Shanghai
Municipal Water Bureau and the Shanghai Commission of Economy and Informatization.
We continue to conduct water risk assessments focusing on the facilities located in water-stressed areas. We alsoprioritize facilities based on their water withdrawal volume and/or intensity to support the achievement of our water
goal. Thirteen of our facilities are located in areas with high or extremely high baseline water stress, and an additional
three have been prioritized based on absolute water withdrawal or water withdrawal intensity. In 2022, we completed
water efficiency assessments at six of our priority sites and water balance assessments at an additional three sites.
We also seek opportunities to diversify our water supply and reduce water withdrawal from freshwater sources. For
instance, in 2022, more than half of the water supply to our Tianjin, China facility was sourced from desalinated seawater.
Our manufacturing facility in Mauá, Brazil utilizes community generated gray water in the production process. By re-using
community gray water, the site saves 305,000 m3 of fresh water resources from being used each year.

28 CABOT 2023
2022 SUSTAINABILITY REPORTWATER WITHDRAWAL, USE, & DISCHARGE(MM m3)

50.59
51.88
48.45

Absolute
Water
Withdrawal
Absolute
Water
Consumed

8.82
10.37
11.56
41.77
41.51
36.88

Absolute
Water
Discharged
2020

2021

2022

Water withdrawal includes surface water, brackish/seawater, purchased water, andgroundwater, but excludes gray water.

Message from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

WATER WITHDRAWAL INTENSITY &WATER DISCHARGE INTENSITY
27.03

2021

2022

3.79

2.16
Purchased MM m3

12.11

22.32

Our Performance

About this Report

Appendices

Surface MM m3

Groundwater MM m3(m3/MT production)

2020

Creating a Sustainable Future

Groundwater MM m3

0.09

TOTAL WATER
WITHDRAWAL(All Areas)

23.25

Brackish /Seawater MM m3

Purchased MM m

Surface MM m3
3

WATER
WITHDRAWAL(Water Stress
Areas3)

6.61

0.00

Brackish/
Seawater MM m3

0.00

30.39

18.60
22.05
16.79

Surface MM m3

Groundwater / Other MM m3
Water Withdrawal Intensity
Water Discharge Intensity
Progress Toward 2025 Goal (Water Withdrawal Intensity) 43%

4.34

0.53
Public or Private
Sewer MM m3

1.62

Surface MM m3

0.31

0.18

TOTAL WATERDISCHARGE BYDESTINATION(All Areas)

3

Groundwater / Other MM m3

Brackish /Seawater MM m3

30.39

Public or Private
Sewer MM m3

0.81

WATER
DISCHARGE(Water Stress
Areas3)

Brackish/
Seawater MM m3

0.00

Water Stress Areas are locations classified by the World Resources Institute Aqueduct Water Risk Tool as being extremely high or high for baseline water stress.

GRI 303-1, 303-2, 303-3, 303-4, 303-5 | SASB RT-CH-140a.1, RT-CH-140a.3 | TCFD Strategy (c), Risk Management (b), Metrics and Targets (a)(c)29 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Caring for Our People & Communities
At Cabot, our employees and communities play an important role in our success. Each year presents new challenges and opportunities to improve
our performance in occupational health and safety; retention, diversity and development; and community engagement. Important advancements inperformance and continued learning opportunities occurred in each of these areas in 2022.
CARING FOR OUR PEOPLE
AND COMMUNITIES

Occupational Health & Safety
Our 2022 safety performance remained relatively consistent with 2021. An analysis of the trends indicates that many
incidents were either line of fire injuries to hands and fingers or injuries due to slips/trips/falls or lifting strains andsprains. In response to these types of incidents, we have worked with sites to review and implement our hazard
identification strategy called the hazard decagon. This tool helps employees to identify live energy sources in theworkplace using an infographic that highlights descriptions of ten common hazards such as noise, mechanical,
temperature and gravity. The hazard decagon facilitates a better understanding of different energy sources, hazards
associated with them and means to mitigate risks. Focusing on line of fire, bodily motion and hazard recognition isa key element of the global safety implementation plans for 2023.
Each year, all of our sites are required to develop safety improvement plans. We also develop a list of priority sites basedon lagging safety performance metrics or those that underwent changes in leadership. The safety improvement plans
for these priority sites are shared and reviewed with the Executive Management Team. Across the priority sites for 2022,
we identified some key themes, such as visible leadership and personal accountability. We are committed to maintaining
the rate and pace of our Safety Supervisor Toolbox training for all frontline leaders, which aims to develop the safety
communication skills that are essential on the shop floor. Priority sites have incorporated visible communication methods
through lean management dashboards or safety accountability boards to improve performance. Site performance isreviewed quarterly with senior leadership to ensure continuous improvement.

SAFETY RATES
Injuries per 200,000 Work Hours

0.30

0.29
0.24

0.19

0.19

0.16

2021

2022

Total Recordable Incident

Lost Time

2020

Progress Toward 2025 Goal 70%
Progress Toward 2025 Goal 70%

PROCESS SAFETY EVENTS

Process Safety

Number of Process Safety Events

We saw a significant improvement in process safety performance in 2022. The number of process safety incidents
decreased by 60% compared to the previous year. As part of our commitment to providing safe working conditions, we
introduced new leading indicators to support our focus on proactive safety management. By deploying these leading
indicators, we will be able to identify areas for improvement and implement corrective actions across all our sites.

9

9

8
9

5

4
2
2020
Tier 1

2021

2022

Tier 2

GRI 403-2, 403-5, 403-9 | SASB RT-CH-320a.1, RT-CH-540a.1

30 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Shanghai Plant Health, Safety and Operational Success Throughout 84-Day Lockdown
With COVID-19 infections soaring, the city of Shanghai, China imposed a strict lockdown for all residents andworkers in the city from mid-March to early-June 2022. Our Shanghai, China facility launched a “closed loop”
strategy on March 11, 2022, which enabled us to accommodate almost 100 employees at the Shanghai plant sothat they could continue operations. As always, our primary focus was on the health and safety of our employees
and ensuring that we avoided infections in the plant. Throughout this difficult time, our Shanghai team maintained afocus on personal and process safety which resulted in us successfully running the plant COVID-free for the entire
84 days of closed loop operations while maintaining our commitments to supply product to our customers.

Retention, Diversity & Development
We believe our employees are our most important asset, and we endeavor to provide a diverse, equitable and inclusive
workplace. Our commitment to retention, diversity and development drives us to expand and refine our programs insupport of our 2025 goals. These goals include the following objectives for retention, diversity and development:

GLOBAL WORKFORCE BY GENDER
3,298
76%

Fostering an environment where employees report high levels of inclusion and support for theirprofessional development

u



u



Increasing diverse representation in leadership and professional roles

1,031

We continue to evolve our practices and advance our efforts in order to meet our goals.

24%

TOTAL GLOBAL WORKFORCE 4,329

MALE

FEMALEGLOBAL WORKFORCE BY REGION
1,703

WORKFORCE BY AGE GROUP

1,447

39%
UNDER 30YEARS OLD

30 – 39YEARS OLD

40 – 49
YEARS OLD

50 – 59
YEARS OLD

60 YEARS
OLD & OLDER

12%

33%

28%

20%

7%
AMERICAS

1,179
27%

34%

EMEA

APAC

GRI 2-7

31

CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

AppendicesDiversity
We believe that diversity, equity and inclusion make us stronger, more innovative and a better employer. As such, we aim
to create a safe and inclusive environment that recognizes the unique value that every individual brings to our company.
Aligned with our goal to increase diverse representation in our workforce, we monitor the percentage of women globallyand ethnic minorities within our workforce in the United States (US) as well as the percentage of leadership roles heldby each. In 2022, we saw a slight improvement in the percentage of global leadership and professional roles held by
women, whereas our ethnic representation in US-based leadership and professional roles remained relatively flat.
In 2022, we developed a new diversity, equity and inclusion (DE&I) strategy to guide our efforts. Our strategy centersaround three key pillars to increase diverse representation, ensure equity and foster an inclusive environment. Alignedwith these pillars, our strategic priorities and roadmap focus on efforts in the areas in which we believe will have thegreatest impact in achieving our goals. We also established DE&I scorecard objectives for each business and functionthat will inform the funding of our incentive compensation plan for our leaders globally. These DE&I objectives include
measures for diversity recruiting, pay equity and participation in inclusive leadership training.
DIVERSITY BENCHMARKSPEOPLE OF
COLOR IN
LEADERSHIP(US Only)

20%

WOMEN IN
LEADERSHIP

24%

Peopleof Color(US Only)

38%(Globally)

28%

23%

Women
(Globally)

29%
Cabot

Benchmark Comparison (US)U.S. Bureau of Labor Statistics,
2022, Plastics and Rubber
Products Manufacturing

In 2022, we introduced two new offerings
to support learning and development forour employees.

Leadership Acceleration
Our Leadership Acceleration program develops
our mid-level leaders’ capabilities to execute
our strategy by building their skills in inclusive
leadership, authentic communication, strategic
thinking, influencing and developing talent.
Our pilot program included 54 participants fromacross the globe. Using a blended learning
approach, participants had the opportunity tolearn from peers, subject matter experts andsenior leaders while enjoying the flexibility to work
asynchronously through an innovative learning
platform. This program complements our existing
first-level leader (Leadership Fundamentals) andsenior-level leader (Cabot College) programs,
providing targeted development support as
leaders progress in their careers.

LinkedIn Learning
Previously, we introduced My Development@ Cabot, a portal with resources to help employees
reflect, explore, plan and take action to develop
skills and pursue career interests. In 2022, weenhanced those resources to include LinkedIn
Learning, an industry leading online training
platform that offers employees a wide range ofcourses to develop their skills. We help guide
employees by mapping LinkedIn Learning
content to our leadership competencies andother capabilities we want to reinforce such assustainability, well-being and diversity, equity
and inclusion.

GRI 404-2, 405-1

32 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

Retention & Development
We believe our employees are our most important asset, and endeavor to provide a diverse, equitable and inclusive
workplace. Our commitment to retention, diversity and development drives us to expand and refine our programs,
while also continuing to evolve our practices and advance our efforts to help us meet our goals. We have well-establishedperformance management and talent development processes in which managers provide regular feedback and coaching
to develop employees. Throughout the year, managers and employees engage in annual objective setting, quarterly reviewsof goal progress, performance feedback, career development discussions and a year-end performance evaluation.
HIRES & DEPARTURES BY AGE GROUP

21%
Eligible for
Performance
Reviews

361

542

286

117

244

Departing40 – 49

100%

HIRES & DEPARTURES BY REGION

148

30 – 39

GLOBALWORKFORCE
RECEIVINGPERFORMANCEREVIEWS

468

236
183

Eligible Global
Workforce
Receiving
Performance
Reviews

79%

736

251
193

<30

Appendices

Not Eligible for
Performance
Reviews

HIRES & DEPARTURES BY GENDER

294
238

About this Report48

450 – 59

60+

MALE

277
169

190

FEMALEAMERICAS

151

EMEA

APAC

New Hires

The number of employee departures includes employees that left Cabot due to the Purification Solutions divestiture in March 2022. The divestiture makes up 48% of the reported 980 total departures. In EMEA, the divestiture represents 67% of the region’s departures.

Community Engagement
We are deeply committed to supporting the communities in which our sites are locatedand believe that engagement strengthens our relationships with our neighbors. Ourcommunity engagement philosophy also attracts and motivates our employees who
enjoy giving back to local causes that have an impact on their local communities. In thiscontext, we focus our corporate charitable contributions and community engagement
efforts on causes or activities that support local initiatives in science and technology
education, environmental conservation, and community and civic improvement initiatives
in the communities where we operate.
In 2022, our Community Engagement Goal Team worked to advance our collective efforts
by tracking regional activities and encouraging sites to lead local engagement initiatives
and identify opportunities for grants through the Cabot Corporation Foundation. 100%of our sites engaged in community activities in 2022. These activities ranged fromvolunteering our time and energy to site-level charitable giving and donations throughthe Cabot Corporation Foundation. Our donations contributed more than $2 million
toward our goal of investing $10 million in local communities by 2025.

CHARITABLE GIVING$2.5M

PERCENTAGE OFSITES PARTICIPATING
IN COMMUNITYENGAGEMENT

100%

$2M
$1.5M
$1M
$500K
$0

2020

2021

2022

Progress Toward 2025 Goal ($10M) 50%

GRI 401-1, 404-3

33 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

Supporting Ukraine Humanitarian Efforts
Since the outbreak of the war in Ukraine, we recognized the immense need to provide humanitarian assistance and support
to help the people of Ukraine and refugees in neighboring countries. To support those impacted, the Cabot Corporation
Foundation committed to donate $250,000 of which $180,000 has been distributed to our sites in Europe to help support
local charitable organizations focused on providing critical humanitarian and refugee assistance. In addition to supporting
charitable organizations through monetary donations from the Foundation, our sites and individuals took action on their own.

Valmez,Czech
Republic

Employees at our Valmez, Czech
Republic site collected clothes, durable
food, personal hygiene items and more.
In their own time and using their own
funds, two colleagues from the Valmez
operations department transported the donated items
to the Ukraine/Poland and Ukraine/Slovak borders andbrought back refugees to the Czech Republic. Several
Valmez employees also have provided accommodations
to Ukrainian refugees in the Valmez community. The
team also made a monetary donation to Caritas Valmez,
one of the largest nongovernmental providers of socialand health services in the Czech Republic, for its benefit
concert to support Ukrainian refugees.

With the close proximity of Latvia
to Ukraine, our Riga team wascompelled to engage collectively andindividually to provide both immediateand long-term support to Ukrainian
refugees in their local community. Employees collectedbasic necessities as well as donations for pharmacy giftcards, which were among the most necessary items.
The Riga Charity Committee developed a list of trusted
organizations to support with donations and the teamengaged with our long-term partners, SOS Children’s
Villages Association, to understand how we can support the needs of the people and children from Ukraine.
In addition, 32 team members from our Riga, Latvia
office took part in the 2022 Rimi Riga Marathon and allproceeds collected for the 6 km race were donated tosupport humanitarian efforts and Ukrainian refugees
in Latvia.

Riga,
LatviaEmployees at our site in Barry, Wales
organized an impressive collectionof much-needed supplies and senta truckload of supplies for Ukrainian
aid including clothes, shoes, diapers,
personal hygiene products, medicine and bandages,
bedding, children’s toys and pet items. Given logisticalchallenges, the site partnered with a UK-wide grocery
store chain to get the donations out as soon as possible
to the bordering countries of Ukraine. Colleagues helped
load vans and cars to deliver and unload donations at
the collection sites.

Barry,Wales

34 CABOT 2023
2022 SUSTAINABILITY REPORT

About this Report

AppendicesMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Celebrating Tree Day in Brazil
On September 21, known as the “Tree Day” celebration in Brazil, employees and local
community members came together to plant 50 native seedlings on a parcel of land
adjacent to our operating facility. This initiative was sponsored by Cabot after a suggestion
from local community members to expand green areas to improve the quality of life in theregion. In 2022, the Cabot team has planted 1,780 native trees in the area. In three to five
years the trees will reach maturity and continue to provide positive environmental benefits.

Clean Up Campaign in Tokyo, Japan
We recognize that we can all play a role in helping to prevent litter from accumulatingin the environment and ensure a cleaner community and healthier waters. Our team inTokyo, Japan organized a cleanup campaign in the Shiba area of Tokyo’s Minato Ward.
Cabot volunteers picked up litter and trash in the streets and local parks. Protecting
and enhancing the quality of our community is important to us and cleanup activities
such as this help us create a better environment for us all to share.

GRI 413-1 | SASB RT-CH-210a.1

35 CABOT 2023
2022 SUSTAINABILITY REPORTAbout this Report

36 CABOT 2023 SUSTAINABILITY REPORT

Focusing on What Matters (Materiality)

37

Stakeholder Engagement

38

Cautionary Statement Relating
to Forward-Looking Statements

39

Message from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable FutureThis document serves as our annual sustainability report, addressing the sustainability
topics most material to Cabot. Our report includes performance data and informationfrom January 1, 2022, through December 31, 2022 (CY 2022) except for financial data
including our “Economic Value Generated and Distributed” goal which reflects thecompany’s 2022 fiscal year (October 2021 through September 2022). The report covers
the full scope of our global operations for which the company had operational control
and majority ownership during the 2022 calendar year, including Tokai Carbon (Tianjin)
which was acquired in March 2022, and excluding the Purification Solutions business
which was divested in March 2022.
This report has been prepared with reference to the Global Reporting Initiative (GRI)
Standards 2021. It also addresses the sustainability accounting standards for theChemicals Industry Sector, as defined by the Sustainability Accounting Standards
Board (SASB) framework. Cabot has also incorporated information about climate-relatedrisks and opportunities in accordance with the recommendations of the Task Force on
Climate-related Financial Disclosures (TCFD). Lastly, information in this report supports
Cabot’s annual Communication on Progress for the UN Global Compact, which isavailable on the UN Global Compact website.
This report contains information regarding our “Creating for Tomorrow” strategy andhow it relates to our business and interests of our stakeholders as well as performancehighlights against our 2025 sustainability goals for the calendar year 2022 and highlightsof specific initiatives and/or targets for the future. The content focuses on the 11
sustainability material topics that were found to be most relevant through a comprehensive
materiality assessment completed in 2017. Dedicated sections describe our management
approaches, performance and vision for improvement in each area. Throughout thereport, markers indicate the correlation between material topics, the GRI Standards,
the SASB Framework and the TCFD recommendations.
To ensure data integrity, we maintain databases for data related to safety andenvironmental incident tracking, environmental emissions including GHGs, SO2, andNOX air emissions, waste and water use, financial and human resources. This data iscollected, analyzed, and reviewed by subject-matter experts within the organization.
Cabot has retained ERM CVS to provide limited assurance in relation to its 2022
emissions intensity calculations for SO2 and NOX emissions, and its Scope 1 and Scope
2 greenhouse gas emissions (both location- and market-based) for calendar year 2022.
The limited assurance was undertaken in accordance with the International Standard
for Assurance Engagements ISAE 3000 (revised). An asterisk (*) has been added next
to datasets or figures within this report that have been externally verified.

Our Performance

About this Report

Appendices

Focusing on What Matters (Materiality)
Cabot has long recognized that our activities can have varying impacts on the economy,
environment and society. Sustainability impacts also create both risks and opportunities
for our business. To maximize our positive contributions to sustainability, we must focus
on the most relevant topics to our business. Our approach to sustainability is based ona systematic process to identify, prioritize and manage the most significant impacts
associated with our activities and business relationships. The foundation of our reportingon these topics stems from our first materiality assessment that engaged internal
stakeholders from across our business segments and regions of operations and external
stakeholders, including select customers, shareholders and a regulatory agency.
Through surveys, workshops and interviews, we reviewed topics from the GRI Standards
and rated the impacts associated with each. This effort established our eleven material
topics and the subsequent launch of our 2025 sustainability goals (see “Our Performance”
section - “Our 2025 Sustainability Goals”).
Over time, we have expanded our engagement on material topics in response to evolving
sustainability reporting standards and our commitment to continuous improvement.
The management approaches for each topic (see Appendix: Management Approaches)
further describe our assessment, planning and accountability systems. Examples ofwhere we have deepened our analysis of impacts include our water risk assessments
which help us to prioritize site improvements based on water scarcity and risks toregional watersheds, and our Task Force on Climate-related Financial Disclosures (TCFD)
climate scenario analysis to evaluate climate risks and opportunities. Stakeholder
engagement remains a critical element of our evaluation of impacts and implementationof preventive and mitigating actions. See Stakeholder Engagement for an overview
of our key stakeholder groups and means of engagement. Beyond these direct
engagements, we actively participate in advocacy groups and associations that
address industry-wide and regional sustainability impacts (see GRI Content Index GRI Disclosure 2-28: Membership Associations).
With the formation of our new ESG Steering Committee, we have established across-functional oversight body chaired by our CEO and comprised of members of
the executive management team. The scope of each committee within this structure
includes regular reviews of material topics, related goals, metrics and strategies, andenhancement of stakeholder engagement. With the support of this new leadershipframework, we anticipate undertaking a new materiality assessment in the coming
year to renew our approach to material topics and human rights, and to ensure we
continue to align with reporting best practices.

GRI 2-2, 2-3, 2-4, 2-5, 2-6, 3-1 | TCFD Risk Management (b)37

CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Stakeholder Engagement
Our success depends on strong relationships with our stakeholders. We engage
with stakeholders in a variety of ways to share information and maintain positive
relationships. We diligently seek opportunities to engage with our customers, investors,
employees, potential employees, suppliers, regulators and communities. We welcome
their input and feedback on how our respective interests can converge for an overall
positive outcome, as summarized in the table below. Our interaction with these groups
can take many forms, including employee meetings, community engagement days at
our manufacturing sites for our neighbors, recruiting events, in-person meetings, investor
engagements, and the use of our website and social media channels to highlight key
community initiatives and company news. We believe it is important for our stakeholders
to understand not just the nature of our business but also our ongoing commitment toimproving our sustainability performance.

Our open-door policy provides the framework for employees to raise concerns and reportsuspected violations of corporate policies or the law. Employees may utilize several
points of contact, such as supervisors, the Office of Compliance, or the Cabot hotline.
Manufacturing facilities have formal processes to engage with the local community,
including the use of Community Advisory Panels and Community Engagement Days,
where our neighbors can visit our facilities and interact directly with Cabot employees
and learn more about plant operations.
In recent years, we have expanded our engagement with investors on ESG issues toreflect the growing interest in these topics and for viewing our sustainability actions
as indicators of our long-term performance.

STAKEHOLDERS

TYPES OF ENGAGEMENTKEY TOPICSEMPLOYEES

Meetings, including Global All Hands meetings, executive briefings,
training sessions, surveys, regular intranet communication, internalsocial media streams

Business performance, the value of our work, strategic initiatives andpurpose, policy and organizational structure, benefits and compensation,
safety, and sustainability

POTENTIAL EMPLOYEESSocial media, website, college campus visits, interviews, internships,
job recruitment sites, employee referrals

Sustainability performance, company values, community engagement,
benefits, and compensation

COMMUNITIES

Plant visits, Community Engagement Days, sponsorships, engagement
programs, Foundation activities, website, social media

Plant operations, safety, environmental stewardship, emergency response
planning, compliance programs, emissions, community sponsorships,
local engagement

CUSTOMERSSales calls, surveys, technical information, exchanges, plant visits,
complaint resolution, trade shows, trade magazines, social media,
customer portals, website

Business performance, sustainability, satisfaction surveys, technical solutions,product quality and performance, cost, production plans, environmental data,
product safety, and regulatory information

SUPPLIERS

Presentations, supplier agreements, performance assessments,
supplier summits, trade shows, trade magazines, website

Performance criteria and expectations, sustainability, safety,
Supplier Code of Conduct

INVESTORSAnnual report, quarterly disclosures, annual meeting, individual meetings,
social media, website, business and trade magazines

Business performance, strategy, execution, material disclosures, sustainability

REGULATORS

Plant visits, technical information exchanges, inspections

Compliance reporting, problem-solving, technical information, sustainability

GRI 2-16, 2-25, 2-26, 2-29 | SASB RT-CH-210a.1

38 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

AppendicesCautionary Statement Relating to Forward-Looking Statements
This sustainability report contains “forward-looking statements” within the meaning ofSection 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Forward-looking statements can be identified by
the use of words such as “anticipate”, “estimate”, “expect”, “aim”, “project”, “intend”,“plan”, “believe”, “will”, “will be”, “will likely result”, “should”, “could”, “target”, “forecast”,“strategy”, “opportunity”, “outlook”, and similar expressions, and variations or negativesof these words and phrases.
Forward-looking statements involve current expectations of future business andfinancial performance, financial conditions, and other matters based on current
assumptions and expectations of future events that are subject to risks, uncertainties,
and other factors outside of Cabot’s control, which may cause actual results to differ
materially from those projected, anticipated or implied in the forward-looking statements
and speak only as of the date the statements were made. Such statements include
statements that relate to our purpose, ambitions, aims, commitments, strategies,
targets, plans and objectives, and our progress on our 2025 sustainability goals. If
known or unknown risks materialize, our actual results could differ materially frompast results and from those expressed in the forward-looking statements. The use of
the word “material” for the purposes of statements regarding our sustainability strategy
and goals should not be read as equating to any use of the word in Cabot’s otherdisclosures or filings with the U.S. Securities and Exchange Commission.

39 CABOT 2023
2022 SUSTAINABILITY REPORT

Important factors that could cause our actual results to differ materially from thoseexpressed in our forward-looking statements include those described in our Annual
Report on Form 10-K for the fiscal year ended September 30, 2022, under the heading“Risk Factors”. Factors relevant to achieving our sustainability goals and ambitions
include, but are not limited to, our success in developing new and innovative products
or product applications that advance our goals, including the rate of acceptance of suchproducts and applications; our ability to offset the costs of such product development
investments; our success in identifying ways to adopt new technologies in our global
network of manufacturing assets; our success in identifying alternative raw materials,
including less carbon-intensive, reclaimed and/or recycled materials, for creating our
products; and the impact from changes in the feedstocks we use in our carbon black
manufacturing and in the products we make that may have a negative impact on our
product yield and/or greenhouse gas emissions, and from the tradeoffs in environmental
impacts inherently associated with complex chemical manufacturing operations.
No part of this report is an inducement to invest in Cabot and should not be relied uponin any way in connection with any investment decision. We undertake no obligation
to publicly update forward-looking statements, whether because of new information,
future events or otherwise, except as required by law.

Appendices

40 CABOT 2023 SUSTAINABILITY REPORT

Limited Assurance Certificate

41

Management Approaches

42

GRI Content Index

52

SASB Chemicals Index

62

TCFD Index

65

Message from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Limited Assurance Certificate
Independent Limited Assurance Statement to Cabot Corporation
ERM Certification & Verification Services Incorporated(“ERM CVS”) was engaged by Cabot Corporation (“Cabot”) to provide limited assurance in relation to
the selected information set out below and presented in the Cabot 2023 Sustainability Report (the “Report”).
Engagement summary
Whether the 2022 data for the following selected disclosures listed below are fairly presented in the Report, in all material respects, in accordancewith the reporting criteria.

Scope of our
assuranceengagement•

Total Scope 1 emissions [MT CO2e]••

Total Scope 2 emissions (location-based and market-based) [MT CO2e]
SO2 emissions intensity [MT/KMT of production]*•NOx emissions intensity [MT/KMT of production]**Production data was not part of the scope of the assurance engagement itself; rather, ERM CVS placed reliance on the accuracy and completeness of the
production data, which was then used to assure the intensity figures.

Our assurance engagement does not extend to information in respect of earlier periods or to any other information included in the Report.
Reporting period
Reportingcriteria
Assurance
standard andlevel ofassurance

Respective
responsibilities

41

1 January 2022 – 31 December 2022••

Cabot’s internal reporting criteria and definitions.
WBCSD/WRI GHG Protocol (2004, as updated January 2015) for the Scope 1 & 2 GHG emissions.

We performed a limited assurance engagement, in accordance with the International Standard on Assurance Engagements ISAE 3000 (Revised)‘Assurance Engagements other than Audits or Reviews of Historical Financial Information’ issued by the International Auditing and Standards
Board.
The procedures performed in a limited assurance engagement vary in nature and timing from and are less in extent than for a reasonableassurance engagement and consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than theassurance that would have been obtained had a reasonable assurance engagement been performed.
Cabot is responsible for preparing the Report and for the collection and presentation of the information within it, and for the designing,
implementing, and maintaining of internal controls relevant to the preparation and presentation of the Selected Information.
ERM CVS’ responsibility is to provide conclusions to Cabot on the agreed scope based on our engagement terms with Cabot, the assurance
activities performed and exercising our professional judgement. We accept no responsibility, and deny any liability, to any party other than Cabot
for the conclusions we have reached.

CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

AppendicesManagement Approaches
BUILDING A BETTER FUTURE TOGETHER
We recognize the value and importance of incorporating sustainability, not only into our direct operations and research efforts, but throughout our value chain. This perspective helps us
to identify how we can best leverage our knowledge and create the greatest value to improve efficiency and implement responsible practices. We actively engage with our customers
to collaborate on developing products that impart sustainability benefits such as increased durability and energy efficiency. In addition, we support and collaborate with our suppliers
to help them in their pursuit of continuous improvement in sustainability performance. Improving the overall impact of our value chain is dependent on our close collaboration with ourcustomers and suppliers. Together, we pursue innovative solutions to improve our collective sustainability performance and address the key sustainability challenges of today’s world.

Economic Value Generated & Distributed
OUR COMMITMENT
Strong financial performance is key to the sustainable growth of our business and our
future success. Our stakeholders around the world expect us to deliver on our financial
commitments by generating and distributing economic value. We believe this approach,in combination with investing for growth in our businesses, will allow us to maintain our
reputation as a leader in our markets and be well positioned to respond to the evolving
needs of our customers. Through our global operations, we create value for a wide variety
of stakeholders, including our local communities, shareholders, investors, suppliers,
governments, contractors and employees. Our compensation programs are designed toprovide a competitive package that rewards both the individual’s and Cabot’s performanceand reflects job complexity, expertise, experience and location. Furthermore, our capital
investments across our facilities generate value for local economies through ourengagements with local suppliers and contractors to help execute these projects.
OUR MANAGEMENT APPROACH
With the support of our Executive Management Team, the Board of Directors oversees
financial performance and strategy, capital structure, and market exposure, as well as
Cabot’s overall risk profile. Our comprehensive Enterprise Risk Management (ERM) programis led by our Chief Financial Officer and reviewed by the Executive Management Team
before it is presented to the Board of Directors. As part of this process, sustainabilityrelated issues, such as impacts of climate change on our business operations and ourmarkets, are evaluated. Opportunities related to how we can respond to markets seeking
more sustainable solutions are also a key factor in our strategic planning.

With our “Creating for Tomorrow” strategy, we will leverage our strengths to lead in
performance and sustainability — today and into the future. We execute this strategy
by investing for advantaged growth in key markets, developing innovative products
and processes to enable a better future, and optimizing our operations for efficiency
and continuous improvement. These efforts drive strong financial performance for ourshareholders while delivering maximum value for our customers.
In addition to the financial metrics reported in our Annual Report and used to measure our
success in executing our corporate strategy, we have established a goal to monitor otherelements of our overall economic value generated and distributed. Our 2025 sustainability
goals include a commitment to invest $1 billion in capital and technology to sustain ouroperations and grow our portfolio by 2025. The goal includes capital investments in ouroperations and technology investments in our portfolio, as well as M&A expenditures for2020 – 2025.
Our investment decisions and growth strategy are guided by an emphasis on sustainablebusiness practices and full compliance with laws, regulations and corporate standards.
To ensure the reliability of our financial and strategic planning, we regularly monitor andevaluate both our short- and long-term needs and objectives. Specifically, we conduct
a comprehensive internal review of our financial performance quarterly. We also review
our financial performance with our Board of Directors on a bimonthly basis. On an annual
basis, we develop and review long-range plans, establish performance targets, and review
business and function budgets.
Our financial performance is evaluated closely by our investors and the broader
investment community, and our annual financial statements are audited each year
by an independent registered public accounting firm.

GRI 3-3 | SASB RT-CH-530a.1 | TCFD Risk Management (b)(c)

42 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Product Sustainability
OUR COMMITMENT
Our “Creating for Tomorrow” strategy drives us to develop innovative products andprocesses that enable a better future. This is exemplified by our products that provide
health, safety, environmental, and other sustainability benefits to our customers andtheir customers. We are committed to developing innovative products that improve theperformance of our customers’ products by imparting properties that extend productlife spans, increase fuel efficiency, and optimize resource conservation. We look togrow our involvement in the circular economy by developing opportunities to use wasteor byproducts as raw materials. As a responsible manufacturer, we understand ourobligation to share comprehensive information on the health, safety and environmental
aspects of our products.
OUR MANAGEMENT APPROACH
Our Chief Technology Officer provides oversight of product innovation and development
in close collaboration with our customer-focused business teams. We also regularly
partner with customers to support their goals of developing sustainable products
and solutions. Our research and development teams use a stage-gate process anda sustainability screening tool to assess the risks associated with the materials we
use and produce regarding the health, safety, and environmental impacts of our own
operations and the activities of our suppliers and customers. This approach enables
our researchers to streamline our development process, allowing us to evaluatesustainability impacts across the life cycle — from design to manufacturing, use phase,and end of life treatment. Through this lens, we can make informed decisions about thedesign and formulation of our products in support of our 2025 goal that 100% of productand process development projects will have a sustainability benefit compared to an
existing benchmark.

Our regulatory experts and toxicologists within our Product Safety and Toxicology
Department lead our efforts to maintain compliance with global regulatory requirements.
We maintain and evaluate environmental, health, safety and regulatory data for all of our
substances and products in a central database. This forms the basis for communicating
information in our safety data sheets and product regulatory statements. We arecommitted to developing transparent product labeling and sharing comprehensive
supporting literature to ensure that those who manufacture, transport, store, or use
our products are prepared to handle the materials safely. Our corporate chemical
prioritization process further enhances this transparency by determining which
products should receive a more detailed evaluation and assessment, including risk
management measures beyond what is required by regulation. We place carefulconsideration on avoiding chemicals of concern and reducing hazards associatedwith our products. We aim to innovate more sustainably, engaging with our partners
throughout our value chain to ensure we are developing products that also enable
their (product) sustainability goals. Training is provided for our employees, customers,
and distributors to relay the health and safety aspects of our products as well as theintended uses, ensuring that our materials are handled and used properly.
Our commitment to product sustainability extends to our engagement with peer
companies in our industries. We continue to actively engage in the International Carbon
Black Association and the Association of Synthetic Amorphous Silica Producers, as wellas other industry associations around the world, such as the Nanotechnologies Industry
Association, the American Chemistry Council and The European Chemical Industry
Council. These engagements provide opportunities to further the understandingof regulatory issues, promote collaboration on the expansion of health and safety
information, prevent misuse of chemicals and help ensure the long-term sustainabilityof our markets.

Suppliers’ Sustainability
OUR COMMITMENT
We are committed to conducting business with the highest ethical standards, and we
expect the same from our suppliers. With the rise in risks linked to social, environmental
and ethical practices along the value chain, laws and regulations require that we holdtrading partners accountable for noncompliance. At the same time, we look for ways
to increase shared value through sustainability. As we advance on our sustainability
journey, we believe partnering with our suppliers will play an important role in our ability
to generate significant positive impacts beyond our own operations.

OUR MANAGEMENT APPROACH
Our suppliers provide a wide range of goods and services, including raw materials;
chemical additives; process equipment; packaging materials; logistics services;maintenance, repair, and operations; engineering; and facility and professional services.
Our suppliers are managed by our global procurement organization, within our Global
Business Services function, including our feedstock sourcing teams. To meet our 2025
goal of engaging with key suppliers to improve our collective sustainability performance,
we are taking a strategic approach to identify and address shared challenges. Our
near-term objective is to enroll all of our identified critical suppliers in our third-party
GRI 2-6, 2-23, 2-28, 3-3 | SASB RT-CH-410b.2 , RT-CH-530a.1

43 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Futuresustainability assessment process. These assessments will be used to develop suppliersustainability scorecards that evaluate environmental and social impacts againstinternational standards such as GRI and the principles of the UN Global Compact. As
this initiative rolls out, we continue to share our Supplier Code of Conduct with all of
our suppliers, outlining our expectations for conducting business ethically and in anenvironmentally and socially responsible manner. We require our key suppliers to agree

Our Performance

About this Report

Appendicesto the expectations for responsible and ethical practices described in this document.
At the same time, we are also partnering with key customers and business partners on
efforts to reduce the impacts of transportation and packaging, among others. Together,
we are driving sustainability performance through measures that increase efficiency,
support our climate ambition and enhance circularity.

ACTING RESPONSIBLY FOR THE PLANET
Environmental issues significantly affect us all on a global scale, and it is the responsibility of governments and corporations alike to help find solutions to these challenges. We operate
our facilities responsibly while delivering innovative solutions that help address the sustainability challenges of our customers, communities, and the world. We acknowledge that wehave a responsibility not only to comply with the applicable environmental regulations but also to lessen our impacts on the planet, where feasible. We are proud of the improvements in
our environmental performance and the leadership we have demonstrated within our industry, but we realize this is an ongoing process. We must continue to work toward innovative,
cost-effective solutions to reduce our environmental impacts while remaining competitive within our industries.
Of the 11 material topics serving as the foundation of our sustainability program, more than half are related to environmental performance. The management of these topics is guided by our
SHE&S Commitment, and our performance is measured against specific goals to reduce waste, energy use, water use and emissions of GHGs, NOX and SO2 by 2025. We also continuously
monitor our environmental compliance performance against internal year-over-year improvement targets. To accelerate our performance, we routinely evaluate our environmental
management practices to uncover broader opportunities that translate into environmental benefits, better use of our shared resources, and reduced operating costs.
The Safety, Health, Environment and Sustainability (SHE&S) Committee of our Board of Directors has oversight over environmental issues at the highest governance level. Executive
leadership for implementing environmental strategies and policies is provided by the Senior Vice President for SHE&S and Chief Sustainability Officer, who oversees a team of SHE&S
professionals assisting our locations in improving overall environmental performance.

Environmental Compliance
OUR COMMITMENT
Responsibility is one of our core values, and one way we demonstrate this is throughour commitment to 100% compliance with local, regional and national environmental
laws and regulations. Maintaining compliance is consistent with our license to operateand demonstrates to our stakeholders that we are committed to preserving the naturalenvironment we all share.
OUR MANAGEMENT APPROACH
Compliance is supported by our Drive to Zero initiative, focused on reducing environmental
non-conformance events (ENCs), which we define as events resulting in a reportablespill or release, a notice of violation, a public complaint, or a permit deviation deemed tobe significant. Our internal standards are developed to meet or exceed applicable laws,
regulations, and the requirements of voluntary programs such as Responsible Care®. Our
approach to compliance is meant to prevent environmental incidents in the design andoperation of our facilities and by emphasizing proactive measures such as training and job
planning with employees, contractors, and business partners. Environmental awarenesstraining is provided to manufacturing and laboratory employees as part of their new
employee orientation, and periodic refresher training is provided to maintain a highlevel of awareness on the part of all employees involved in our operations.
We seek to promote continuous improvement by undertaking thorough investigationsof any incidents that do occur to identify the root cause of the incident and implement
appropriate corrective actions. To help minimize the potential for a similar incident tooccur, the results of these investigations are shared broadly throughout our global
network of facilities. We routinely verify compliance through our comprehensive corporate
SHE&S audit program. These audits are conducted regularly and provide anotheropportunity to share best practices and learnings across our network. In addition, we
support the efforts of our facilities to secure and maintain external certification of theirenvironmental management systems, and we have set a 2025 goal of externally certifying
100% of our facilities’ environmental management systems. These certifications provide
an independent assessment that we are fully aware of our environmental aspects andimpacts and that we have the systems in place to ensure compliance.
GRI 3-3

44 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

EnergyOUR COMMITMENT
Our focus on energy conservation is consistent with our corporate strategy to drive
continuous improvement in everything we do. We understand that improved energy
efficiency delivers both direct and indirect emission reduction and economic benefits.
Our manufacturing processes are heavily dependent on energy, and we are committed
to continuously looking for ways to advance toward our goal of reducing our overall
energy footprint by reducing our consumption and harnessing waste energy that would
otherwise be lost in our manufacturing processes. Our work focuses on maximizing
the overall efficiency of existing equipment, and innovations in equipment, process
technologies and waste heat recovery to minimize our energy footprint while also
considering alternative energy sources. Our 2025 sustainability goal is to increase
our energy ratio, which measures our performance in capturing and converting wasteenergy for export in relation to the energy imported. By converting what is wasted
energy into useful byproducts that we export, we can reduce the use of fossil fuels andthe associated GHGs that would otherwise be generated outside of our own facilities.

OUR MANAGEMENT APPROACH
Energy is a crucial part of our manufacturing processes, and as such, in 2018 Cabot
established an Energy Efficiency Team within the manufacturing organization of ourcarbon black network to lead our broader energy sustainability efforts. The growing
need to accelerate the integration between sustainability and manufacturing brought
about the creation of a Manufacturing Sustainability Team in 2022. The Manufacturing
Sustainability Team expands the scope of the Energy Efficiency Team to support ourenvironmental goals and defines the execution plan to achieve our 2025 sustainability
goals consistent with our corporate sustainability and business segment strategies.
As it pertains to our energy export goal, the Manufacturing Sustainability Team
collaborates with leaders from our business segments, corporate SHE&S, global
engineering, and research and development to evaluate new energy-saving process
technologies, implement capital programs to improve energy efficiency and develop
effective means to capture and utilize waste heat and energy. The expanded role ofthe Manufacturing Sustainability Team allows us to identify cross media effects of thedifferent initiatives driven by the other environmental goals.
Management practices designed to optimize operations and implement efficiency
measures are undertaken at the facility level. Data on energy use and energy sources
is collected and analyzed through our internally developed metric, energy ratio, whichis calculated for each facility. This metric helps to monitor the effectiveness of our
execution plans, determine energy trends and identify improvement opportunities.

Nitrogen Oxides (NOX) & Sulfur Dioxide (SO2) Emissions
OUR COMMITMENT
Clean air is essential to our quality of life and necessary to support the ecosystemupon which we depend. Our emission reduction efforts involve a variety of different
techniques, including improved operational efficiency and treatment of waste gases
from our manufacturing facilities resulting in SO2 and NOX emissions. We monitor our
process emissions closely with the aim of maintaining compliance with our regulatory
obligations and reducing our global environmental footprint. By establishing goals to
reduce our air emissions intensity, we commit to making our communities safer andmore resilient, while promoting health and well-being for all.

OUR MANAGEMENT APPROACH
The overall management strategy for our emission reduction program is led by ourbusiness segments working closely with our individual facilities and the SHE&S team.
In the broadest sense, we continue to advance cost-effective technologies that help
meet both our emission reduction and our operational efficiency goals. Our approach to
reducing emissions such as NOX and SO2 includes installing emission control systems
and utilizing lower sulfur content feedstocks where economically and technologicallyfeasible. When identifying air pollution controls, we will seek out systems that minimize
the production of unwanted byproducts and look for ways to optimize the control
systems already in place. We also actively engage with local and regional governments
to effectively reduce emissions, where feasible, while working to maintain fair andcompetitive global marketplaces.

GRI 3-3 | TCFD Risk Management (b)45 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

AppendicesGreenhouse Gas Emissions
OUR COMMITMENT
Our greenhouse gas (GHG) emission reduction efforts involve a variety of different
techniques, including improved operational efficiency at our manufacturing facilities.
We measure our Scope 1 and 2 emissions closely with the aim of reducing our global
environmental footprint. We also look to partner with our customers and others whoshare our goal of reducing emissions impacts across the value chain by providing
products that can help lower their GHG emissions and lower the impact of their products
throughout the product life cycle.
We face challenges in our path to decarbonization. One such challenge is that ourhighly engineered product grades are in demand for their broader life cycle and energy
transition benefits. However, these highly engineered products tend to have a higher
Scope 1 GHG intensity than many of our other products. Our commitment is to reduce
Scope 1 and 2 emissions while continuing to develop highly engineered materials whichhave a broader lifecycle benefit to our value chain in our drive towards net zero.

OUR MANAGEMENT APPROACH
The overall management strategy for our GHG emission reduction program is led by ourbusiness segments working closely with our individual facilities and the SHE&S team.
This is governed by an ESG Steering Committee, chaired by our Chief Executive Officer;
an Environment Committee, chaired by our Chief Sustainability Officer; and a Climate
Subcommittee comprised of representatives from key function areas. The Climate
Subcommittee brings all Scope 1 and 2 GHG emissions reduction activities across ourbusinesses and facilities together under one umbrella to support effective progression
toward our net zero ambition. We continue to advance cost-effective technologies that
help meet both our emission reduction and our operational efficiency goals. Our approach
toward reducing GHGs is focused on increasing the energy efficiency of our processes
and equipment, capturing energy from our processes, sourcing alternative feedstocks,
and procurement of renewable or low-carbon energy where feasible. In 2023 we will
undertake a comprehensive Scope 3 inventory to gather relevant data and determine along-term strategy to address our Scope 3 emissions.

Waste & Spills
OUR COMMITMENT
We recognize the potential impact that solid waste disposal or spills of hazardous
materials could have on the environment in our local communities. Therefore, we take atargeted approach to minimizing waste through a hierarchy of management practices,and our Drive to Zero philosophy extends to an aspiration of zero spills and leaks at ouroperating facilities. We also believe that finding alternative uses for waste materials andbyproducts presents opportunities to contribute to a circular economy.
OUR MANAGEMENT APPROACH
Most of our waste is primarily associated with three sources: off-quality materials
produced during the manufacturing process, remediation-related waste, and waste
residues originating from air pollution control systems. Other waste may be generated
from sources such as periodic construction and demolition projects, packaging from raw
materials and products, laboratory waste from quality assurance activities, and routine
office-based activities.
Expectations for the management of waste and the handling of chemicals are governed
by Cabot’s internal standards applicable to all our manufacturing, laboratory, andR&D facilities. Our waste management standard has established a hierarchy of waste
management with the elimination of waste as the highest priority and disposal without
any beneficial reuse as the lowest priority. We implement programs to identify reuse
opportunities for off-quality products and other waste streams and improve facility
resource efficiency to reduce waste generation. Compliance with these expectations isregularly evaluated through our comprehensive SHE&S audit program.
46 CABOT 2023
2022 SUSTAINABILITY REPORT

Where feasible, both hazardous and non-hazardous waste is recycled or reused while
all other waste is disposed of by incineration or other appropriate off-site treatment at
permitted and licensed facilities in accordance with Cabot’s Waste Management Standard.
Our 2025 goal of reducing total waste disposal by 20% from 2019 levels is designed toencourage facilities to identify beneficial uses for their waste streams with a long-termgoal of eliminating all manufacturing-related waste disposal. In 2022, we aligned ourwaste goal baseline year to reflect the changes in our portfolio by removing the volumes
associated with the divestiture of the Purification Solutions business and accounting for
the underground injection well waste generated from our fumed metal oxide (FMO) plant in
Tuscola, IL, USA.
We track our waste data from each site annually as part of routine reporting of waste
activities and measure progress against our 2025 goal. While our goal focuses on waste
impacts from our direct operations, we also seek opportunities along our value chain
to work with suppliers to reduce waste associated with shipping materials and withcustomers by offering products that incorporate recycled content or extend the usefullife of a product.
Spills Management
We aim to avoid all spills through careful management and design of the processes at ourfacilities. We conduct training on spill management and emergency response to ensure
personnel are prepared to respond if a spill occurs.
GRI 2-4, 3-3 | TCFD Strategy (a)(b), Risk Management (b)Message from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Water
OUR COMMITMENT
Water is vital to human life, healthy ecosystems and biodiversity across the globe. It isalso a natural resource we depend on in our manufacturing operations, and we must
pay close attention to ensuring responsible water consumption and management.
OUR MANAGEMENT APPROACH
Cabot withdraws water, directly or indirectly, from groundwater, surface waters (freshand brackish) and reclaimed water for use in our production operations. In some cases,
we convert water into hot water and steam at our operations and supply that to ourcustomers. Where feasible, water from our operations is recovered and reused, with theremaining water discharged directly or indirectly to waterways.
We have a responsibility to minimize our direct impacts from these activities. Therefore,
we seek to conserve water across our operations and ensure that wastewater
discharges are properly treated to avoid degradation of the surrounding environment.
Collaborating with our colleagues and customers, we are looking to develop applications
for our products that help conserve and protect water resources, including the use of
our masterbatch products in durable water piping and water conservation applications.
Our 2025 water goal focuses on the withdrawal of water for production, and ouroverarching strategy includes mapping water use, monitoring water risks, tracking
legal requirements, assessing water management costs, sharing water conservation

good practices, and implementing water efficiency projects at prioritized locations.
Responsibility for water resource management predominantly resides at the facility
level, under the guidance of the Environment Committee which reports to our ESG
Steering Committee. Both intake and discharge of water are typically governed bystate and local water permits. We strive for full compliance with our obligations underthese permits and have regular reviews and audits for assurance. We also look foropportunities to increase water efficiency and recycle wastewater where feasible.
We evaluate our water management by reviewing data on water withdrawal intensity
and water discharge intensity per unit of production. This allows us to evaluate ourwater usage for each of our operating locations. We have been monitoring annual water
use and discharges at our manufacturing facilities since 2009 to better understandwhere our water is sourced, what our withdrawal rates are, and the volume, quality anddestination of water discharged from our facilities, and treatment methods applied at
our facilities. We have completed a water risk evaluation of our manufacturing locations
to identify which of them may be impacted by future water scarcity issues. Facilities inareas currently classified by the World Resources Institute Aqueduct Water Risk Tool as
being extremely high or high for baseline water stress are prioritized for water efficiency
projects implementation. Our approach to water management is reviewed by theEnvironmental Subcommittee on an ongoing basis.

CARING FOR OUR PEOPLE AND COMMUNITIESOur commitment to providing safe working conditions and involving all our employees in our safety efforts has been fundamental to who we are as a company. This focus on safety helps
us to attract and retain top talent around the world and helps to ensure reliable performance in our manufacturing operations. We also offer our employees professional development
opportunities and competitive compensation and benefits. We are committed to increasing employee engagement by leveraging the diversity and aspirations of our people and developing
their talents by fostering an inclusive environment that embraces diversity in its many forms. To remain a competitive employer, we acknowledge the importance of our company purpose,values, strategy, culture, and sustainability program to our employees as we aim to continuously demonstrate our commitments and enhance our performance.
Our commitments extend to our communities, where we strive to be a good neighbor through our active engagement and responsible business practices. We seek input and feedback fromour local communities and look for opportunities to contribute our time and resources so we can play an active role in the growth and success of the areas where we operate.

Occupational Health & Safety
OUR COMMITMENT
Our responsibility as an employer is to provide a safe work environment and promotewellness across the workforce. This focus on health and safety has been deeply
ingrained in our culture throughout our history. Our goal is for all employees, contractors

and visitors to return home in the same condition as when they arrived at work.
We also strive to help employees lead healthy lifestyles through a variety of initiatives
and benefits.

GRI 3-3 | SASB RT-CH-140a.3 | TCFD Risk Management (b)47 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

OUR MANAGEMENT APPROACH
The Safety, Health, Environment and Sustainability (SHE&S) Committee of Cabot’s
Board of Directors has responsibility for overseeing health and safety issues at thehighest governance level. Leadership for implementing related strategies and policies
is provided by the Senior Vice President for SHE&S and Chief Sustainability Officer who
oversees a global team of SHE&S professionals, including regional directors. SHE&S are
critical components of our culture. The Executive Management Team plays an essential
role in setting expectations and ensuring appropriate resources are available to meetour goals and objectives in this regard. As part of our Drive to Zero initiative, we haveset a long-term goal of achieving zero injuries at our facilities worldwide. Recognizingthat it may take many years to achieve this ambitious objective, we have establisheda continuous improvement goal for personal safety to achieve a 50% reduction below
2019 levels by 2025 for recordable incident and severe injury rates. Through ourglobal SHE&S Commitment, which was updated in early 2023 and approved by the
ESG Steering Committee and adopted by the Cabot Board of Directors. Through thiscommitment, we hold ourselves accountable to demonstrate our company values andcontinuously improve the way we operate. The commitment defines several important
objectives for our continuous improvement in safety, including:uComplying with all applicable laws and regulationsu

Sharing complete information about the safe handling of our productsuMaintaining the safety and security of our employees, contractors, and neighborsuManaging our operations to minimize any impacts on our communitiesu

Exemplifying the Responsible Care® Guiding PrinciplesuPartnering with customers to develop innovative and sustainable solutionsuImproving efficiencies, reducing environmental impacts, and ensuring that we areprepared for all emergencies that could occur

Our facilities are required to develop and implement a safety program that upholds
our SHE&S Commitment and meets all applicable health and safety laws as well as
Cabot standards. This program provides oversight for all direct activities occurringin our facilities and within our operational control, including impacts on employees,
contractors, and visitors. Additionally, most facilities are operated with local health andsafety committees open to all workers, including union and nonunion labor participation.
These committees meet on a routine basis, and their primary focus is to ensure open
dialogue around SHE&S issues, provide opportunities to communicate progress andchallenges, and resolve conflicts on priorities. We also incorporate contractors into
our safety program through our selection process, which includes prequalification toensure they meet minimum SHE&S requirements. Contractors receive on-site orientation

Our Performance

About this Report

Appendicestraining and adhere to Cabot safe work permitting processes. In addition, contractors
receive ongoing reviews and feedback on their performance through our contractor
management standard.
Hazard Identification and Risk Mitigation
Our approach to minimizing risk includes standards-based analysis of impacts andhazards, as well as training all employees to ensure that they are adequately aware of
workplace hazards and can take steps to prevent injuries. All employees receive safety
training that meets or exceeds all applicable government regulations. Our job safety
analysis and safe work permit management ensure that risks are addressed before
work begins. Risk identification and equipment training cover a range of topics, including
potential exposure hazards, occupational noise, personal protective equipment, fireand flammability, physical risks, and ergonomics. To enhance these efforts, we have
deployed a web-based learning platform across multiple topics and disciplines.
If a hazardous situation were to arise, workers are empowered to report unsafe
conditions through various means. To ensure worker protection against reprisal, Cabot
provides an anonymous reporting hotline, and investigates all claims of retaliation.
We have internal standards for monitoring and controlling long-term health risks.
The standards require workplace exposure assessments, incident investigations,
implementing corrective actions where necessary, communicating the results
to employees, and tracking the data through our central database. Our facilities’
implementation of these standards is reviewed periodically through our SHE&S
audit program.
Occupational Health Services
A suite of occupational health services strengthens our robust approach to worker
well-being. These include third-party medical advisory services for occupational injuries
and illness management and an independent medical director to advise Cabot on
long-term and acute medical conditions associated with our manufacturing operations.
All employees have access to information on chemical hazards and occupational
services through internal communication networks and SHE&S experts.
We carry this approach beyond our operations through an emergency response system
and advisory services to cover chemical shipments worldwide. We have a proventrack record of promoting occupational health by participating in industry groups andsponsoring research on the potential impacts of our products, including long-term
employee health studies dating back more than 50 years.

GRI 3-3, 403-1, 403-2, 403-3, 403-4, 403-5 | SASB RT-CH-320a.2

48 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Continuous Improvement Through Responsible Care®
As part of our commitment to Responsible Care, we remain focused on continuously
improving the health and safety of our processes and products. In accordance with thiscertification, we report our performance metrics annually and undergo external audits
regularly to evaluate our program, identify gaps, and undertake corrective actions asneeded. In addition to the Responsible Care audits, our sites routinely undergo robust

Our Performance

About this Report

Appendicesinternal SHE&S audits, which evaluate procedures, practices, and site conditions inaccordance with regulations, internal company standards, and industry-recognized bestpractices. These risk-based audits are conducted by teams of internal subject-matter
experts supported by external resources as needed. Employees participate in site-level
and corporate audits through activities ranging from interviews to corrective actions.

Process Safety
Another critical factor in keeping our employees and communities safe is our carefulattention to process safety. Process safety management is the application ofmanagement systems to identify, understand, and control process-related hazards toprevent incidents. This approach includes monitoring the condition and functionalityof our processes, equipment, and infrastructure to ensure our operations are as safeand efficient as possible. Before initial unit startups and when significant changes tooperations occur, preparedness assessments are conducted by subject-matter experts.
We also carefully track process safety events, defined by the Center for Chemical
Process Safety as any unanticipated release of material or energy from a process that

results in injury, damage to property/assets, or damage to the environment through fire,
explosion, or release of flammable, combustible, or toxic chemicals. In accordance with
the American Petroleum Institute’s recommended practice 754, we utilize the Tier 1 andTier 2 categorization approach to track our performance and report externally.
In the event of a recordable injury, ENC, process safety incident, or high potential nearmiss, a thorough incident evaluation is conducted to understand the root cause of theissue and assess how we may implement measures to avoid similar safety events in the
future. We share the results of these evaluations globally, so all our sites can learn fromthe event and reduce similar risks.

Retention, Diversity & Development
With approximately 4,300 employees around the world who represent a wide variety ofbackgrounds and make conducting our business possible, we are committed to celebrating
the diversity of all our employees and supporting them in realizing successful careers.
Reporting to the Chief Executive Officer, the Senior Vice President and Chief Human
Resources Officer (CHRO) oversees programs and processes to attract, develop, retain, andsupport our employees and routinely updates our Board of Directors on related initiatives.

The Human Resources Department enables managers across the company to drive
performance and employee development using our performance management process andthe implementation of our Human Rights Policy, which establish expectations for adherence
to labor practices and human rights laws, and the creation of a safe and healthy workplace.

Retention & Development
OUR COMMITMENT
We understand that employees have a choice of where they work, and it is our goal toremain an employer that attracts and retains top talent. We depend on the broad anddiverse range of skill sets and experiences from our workforce to be successful as abusiness and advance on our sustainability journey. We seek diverse candidates for all
positions, and we have deployed practices that help ensure all employees are treatedfairly and equitably. Our ability to attract and retain top talent is due, in part, to ourrich, collaborative culture, our competitive benefits programs, and our commitment toprofessional development at all levels of the organization. By developing our employees’knowledge and skills, we offer our people opportunities for advancement, enhance value
for our customers, and retain talent to further our leadership position. This also benefits
our employees’ families and local communities by building intellectual capital andsupporting broader economic stability.
OUR MANAGEMENT APPROACH
Reporting to the CHRO, the Director of Talent Management and Development is responsiblefor developing and leading the execution of our talent strategy, focused on building ourcurrent and future talent pipeline through the development of our employees and therecruitment of external candidates.
GRI 3-3

49 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Employment decisions are made without regard to race, color, ethnicity or national origin,religion, gender or gender identity, sexual orientation, age, disability, veteran status orother legally protected status. An in-house talent acquisition team leads outreach andrecruitment efforts suited to local market dynamics and business needs. We develop atalent pipeline by offering internships, apprenticeships, and training to students in manyof the communities in which we operate.

We recognize the potential each employee brings to Cabot, and we are committed to ouremployees’ development to help them realize this potential to its fullest. Our approach todevelopment is multifaceted and encourages:

In terms of employee compensation, our Board’s Compensation Committee oversees
Cabot’s annual corporate short-term incentive program, equity incentive compensation
programs, remuneration of Cabot’s Management Executive Committee, including Cabot’s
CEO, and pay equity on the basis of elements of diversity, including gender. To ensure
employees have their basic needs met to live healthy and productive lives, we offer
comprehensive benefits programs designed to meet or exceed what is required andstandard for the countries in which we operate. While our benefits vary by location,
our core benefit programs typically include health insurance; life and accidental death
insurance; disability insurance; retirement and pension plans offering robust company
contributions; business travel accident insurance; medical travel insurance; vacation,
holiday, and leave entitlement; educational financial assistance; and access to retiree
medical coverage.
Cabot encourages a culture of well-being and offers programs providing guidance andsupport on physical, financial, emotional, and social health for employees and theirfamilies. The delivery of these programs varies by site and includes in-person, online, print,
and digital tools. An Employee Assistance Program is available to all employees globallyfor well-being and emotional support. Flu vaccination campaigns are held across many
regions, and on-site healthcare is available in some locations. We also offer flexible work
arrangements to support our employees’ efforts to meet family and personal needs while
enhancing job satisfaction and productivity.

uOn-the-job development, including stretch assignments and rotationsuContinuous feedback from managers, mentors, and peersuFormal learning opportunities, including leadership development programs, functional
and technical skills training, and professional conferences

We take a holistic approach to employee development. Through our performancebased management process, managers and employees work together to plan workand set expectations, review progress and results, reward performance, and discussdevelopment areas to support performance improvement and career growth. Our training
programs are managed both globally and on a site-by-site basis, according to the unique
mix of each employee’s experience, skill set, and career interests, and the company’sbusiness objectives. Lastly, career transitioning at the end of employment is handled withsensitivity and commonly includes outplacement services for future job opportunities
or retirement.
To support continuous improvement, our biennial employee engagement survey provides
an opportunity for the company to receive feedback from our global workforce and gain
insights related to engagement, retention, and development.

Diversity
OUR COMMITMENT
We strive to create a safe and open environment where everyone is supported
to contribute to our success and have an impact — where the richness of ideas,
backgrounds, and perspectives are accepted, respected, and valued. Each of us
understands that we are accountable for playing an active role in building andsustaining an inclusive environment where everyone can contribute, grow, and thrive.
OUR MANAGEMENT APPROACH
Diversity, equity, and inclusion (DE&I) is a core responsibility of our Director of TalentManagement and Development, who reports to the CHRO. Our progress in DE&I isoverseen by a DE&I Council comprised of leaders from across the company, with thedirective to examine how we promote and support diversity in all its forms. Policies andpractices are reviewed from both global and local perspectives to ensure that we build
an equitable and inclusive environment where employees with diverse backgrounds andexperiences feel valued and welcome to share new ideas, challenge the status quo, andcollaborate broadly within and across their teams.
We firmly believe that fostering diverse perspectives and experiences not only
builds a community of employees who feel included and valued but also enhances
our ability to innovate and perform. Our business success depends on our ability tocreate an environment where we all understand and acknowledge the importanceof our differences. This supports our efforts in recruiting and retaining top talent andestablishing a welcoming environment for our employees.
GRI 2-19, 2-23, 3-3, 401-2, 403-6, 404-2

50 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Community Engagement
OUR COMMITMENT
Throughout our history, we have maintained a strong sense of connection to our local
communities and have consistently endeavored to be good community partners. We
understand the value of collaborating with the communities in which we operate,
and we recognize that thriving communities are essential for a sustainable future.
Community engagement benefits our neighbors, resonates with employees on a
personal level, and allows us to operate with the trust and confidence of our neighbors.
We are fortunate to have a workforce comprised of many individuals who are willing tocontribute to this important effort by offering their time and skills to positively impact
our communities.
OUR MANAGEMENT APPROACH
There are two primary conduits for our community engagement efforts. The first is ourgiving activities at the corporate level by the Cabot Corporation Foundation, and thesecond is through facility-led giving and volunteer initiatives. The Cabot Corporation
Foundation was established in 1953 to support qualified charitable, nonprofit
organizations in the United States. The charter was amended in 1992 to include grants
to qualified charitable organizations outside of the United States to support our intent

to have meaningful impacts across our global footprint. A budget for the Foundation’s
donations is approved by Cabot’s Board of Directors on an annual basis. Decisions
for how these funds are distributed are the responsibility of the Foundation’s Boardof Directors, which meets regularly to review grant proposals and to ensure funds
are used in ways that align with its charter. The Foundation plays a unique role inproviding financial support to our communities across the globe while fostering
long-term partnerships with organizations that support our shared sustainability
goals. Our facilities are responsible for developing and fostering relationships in thelocal community, and they are committed to making a meaningful difference in many
ways. Active community engagement teams at many of our locations take the lead inevaluating the needs of the community and identifying organizations the facility may
partner with to deliver a lasting and meaningful impact. Our community engagement
activities take the form of volunteer events, charitable giving, and sponsorship of local
causes. In the case of monetary contributions, funds are typically managed as partof facility budgets, with additional resources available through the Cabot Corporation
Foundation. Nearly all our facilities globally have dedicated Community Outreach teams
responsible for preparing local community engagement plans.

GRI 3-3

51

CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

GRI Content Index
Statement of Use

Cabot Corporation has reported with reference to the GRI Standards for the period January 1, 2022 to December 31, 2022.

GRI 1 Used

GRI 1: Foundation 2021

GRI 2: General Disclosures 2021
Disclosure
Number

Disclosure Title

Page Number / Response

2-1

Organizational details

Name: Cabot Corporation
Headquarters: 2 Seaport Lane, Suite 1400, Boston MA 02210 USA
Locations: p. 6
Legal form: Cabot Corporation is a publicly traded corporation (NYSE: CBT)

2-2

Entities included in the organization’ssustainability reporting

pp. 7, 37
Refer to Cabot’s Form 10-K, filed November 23, 2022, Part I, Item 1, Business, for a description of our operations and entities
in which Cabot has an ownership interest, and Exhibit 21 to Cabot’s Form 10-K for a list of Cabot’s subsidiaries.

2-3

Reporting period, frequency, and contact point

p. 37
Inquiries or comments concerning the content of this report may be directed to sustainability@cabotcorp.com.

2-4

Restatements of information

pp. 24, 26, 37, 46

2-5

External assurance

p. 37
Cabot’s selection of external assurance providers is conducted in accordance with our Code of Business Ethics to ensure there
are no conflicts of interest. Results of external assurance are reviewed within the Environment Committee reporting to the
ESG Steering Committee.

2-6

Activities, value chain and otherbusiness relationships

See p. 7 for an overview of our business segments, services, and markets served. Net revenue can be found in Cabot’s Form 10-K, filed
November 23, 2022, Part II, Item 8, Financial Statements and Supplementary Data. See pp. 23, 43 for a description of our supply chain.
Significant changes are noted on p. 37.

2-7

Employees

p. 31
Global Workforce by Contract and by Gender
GenderMale

FemalePermanent

3,248

77%

983

23%

Temporary

50

51%

48

49%

Full Time

3,268

77%

980

23%

Part Time

30

37%

51

63%

Global Workforce by Contract and by Region
Region52 CABOT 2023
2022 SUSTAINABILITY REPORT

Americas

EMEA

APAC

Permanent

1,692

40%

1,116

26%

1,423

29%

Temporary

11

11%

63

64%

24

0%

Full Time

1,688

40%

1,115

26%

1,445

29%

Part Time

15

19%

64

79%

2

0%

Message from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices2-8

Workers who are not employees

In addition to our employees, we regularly engage contractors, typically hired for specific project-based work or discrete
periods of time. These workers represent approximately 27% of Cabot’s workforce and are included in our occupational
health and safety management program.

2-9

Governance structure and composition

See p. 10 for an overview and GRI Disclosure 405-1 on p. 61 for diversity metrics.
For additional details, refer to the Cabot 2023 Proxy Statement, pp. 6-16.

2-10

Nomination and selection of the highest
governance bodyp. 10
See also the Cabot 2023 Proxy Statement, pp. 6-7, 14, 16-17.

2-11

Chair of the highest governance body

p. 10

2-12

Role of the highest governance body inoverseeing the management of impacts

p. 15
For additional details, see the Cabot 2023 Proxy Statement, p. 9-10.

2-13Delegation of responsibility for managing impacts

pp. 10, 15
For additional details, see the Cabot 2023 Proxy Statement, p. 9-10.

2-14

Role of the highest governance body insustainability reporting

p. 15

2-15

Conflicts of interest

pp. 10-11
See also the Cabot 2023 Proxy Statement, pp. 16, 25

2-16

Communication of critical concerns

pp. 12, 15, 38
See the Cabot 2023 Proxy Statement, p. 26.

2-17

Collective knowledge of the highest
governance body

p. 10
See the Cabot 2023 Proxy Statement, pp. 8-10

2-18

Evaluation of the performance of thehighest governance bodyp. 10
See also the Cabot 2023 Proxy Statement, pp. 16, 32-51

2-19

Remuneration policies

p. 50
See also the Cabot 2023 Proxy Statement, pp. 13-14, 32-65

2-20

Process to determine remuneration

See the Cabot 2023 Proxy Statement, pp. 13-14, 32-65

2-21

Annual total compensation ratio

See the Cabot 2023 Proxy Statement, p. 65.

2-22

Statement on sustainable development strategy

pp. 3-4

2-23

Policy commitments

pp. 10-12, 43, 49-50
See also Cabot’s Code of Business Ethics; Human Rights Policy; Safety, Health, Environment & Sustainability Commitment;
and Supplier Code of Conduct

2-24

Embedding policy commitments

pp. 11-12, 15
See also the Cabot 2023 Proxy Statement, p. 9-10, 26.

2-25

Processes to remediate negative impacts

pp. 11-12, 15, 38

2-26

Mechanisms for seeking advice and raising concerns

pp. 12, 38

2-27Compliance with laws and regulations

pp. 12, 24, 27 and SASB RT-CH-140a.2 on p. 62
In addition to the compliance information reported above, there was one set of environmental fines for $2,250 and there wereno safety fines incurred in 2022. The environmental fines were associated with the management of hazardous waste not inaccordance with the applicable regulation and corrective actions have since been taken.

53 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices2-28

Membership associations

p. 43
Cabot is an active member of the following national and international industry/advocacy groups and associations:u American Chemistry Council (ACC)u Association of Synthetic Amorphous Silica Producers (ASASP)u China Petroleum & Chemical Industry Federation (CPCIF)u Corporate Environmental Enforcement Council (CEEC)
u CEO Action for Diversity & Inclusion™
u Decarb Connect
u Ellen MacArthur Foundation’s New Plastics Economy Global Commitment
u Environmental Law Instituteu European Chemical Industry Association (CEFIC)u European Masterbatchers and Compounders (EuMBC)
u International Carbon Black Association (ICBA)u Manufacturers Alliance for Productivity & Innovation (MAPI)
u NAATBatt Internationalu Nanotechnology Industry Association (NIA)
u Society of Toxicology
u Synthetic Amorphous Silica and Silicate Industry Association (SASSI)
u United Nations Global Compact (UNGC)

2-29

Approach to stakeholder engagement

p. 38

2-30

Collective bargaining agreements

p. 12
The terms of collective bargaining agreements are fully aligned with Cabot’s Code of Business Ethics and Human Rights Policy.
Due to data privacy laws, several of our EMEA locations cannot track union membership.

GRI 3. Material Topics 2021
3-1

Process to determine material topics

p. 37

3-2

List of material topics

p. 19

BUILDING A BETTER FUTURE TOGETHER
Economic Performance
Disclosure
Number

Disclosure Title

Page Number / Response

GRI 3: Material Topics 2021
3-3Management of material topics

p. 42

GRI 201: Economic Performance 2016
201-1

Direct economic value generated and distributed

p. 20
For additional information, refer to Cabot’s 2022 Annual Report and Form 10-K.

201-2

Financial implications and other risks andopportunities for the organization’s activities
due to climate change

p. 11
For additional information, refer to Cabot’s 2023 Proxy Statement, p.9-10 and Cabot’s 2022 Annual Report and Form 10-K, Part 1,
pp. 13-15, 18.

54 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Product Sustainability
Disclosure
Number

Disclosure Title

Page Number / Response

GRI 3: Material Topics 2021
3-3Management of material topics

p. 43

GRI 416: Customer Health and Safety 2016
416-1

Assessment of the health and safety impacts
of product and service categories

p. 21
100% of significant product categories are assessed for health and safety impacts using the best available information.

Suppliers’ Sustainability
Disclosure
Number

Disclosure Title

Page Number / Response

GRI 3: Material Topics 2021
3-3Management of material topics

p. 43

GRI 308: Supplier Environmental Assessment 2016
308-2

Negative environmental impacts in the
supply chain and actions taken

pp. 16, 23

GRI 414: Supplier Social Assessment 2016
414-2

Negative social impacts in the supply chain
and actions taken

p. 23

ACTING RESPONSIBLY FOR THE PLANET
Environmental Compliance
Disclosure
Number

Disclosure Title

Page Number / Response

GRI 3: Material Topics 2021
3-3Management of material topics

p. 44

GRI 307: Environmental Compliance 2016
N/A

Sites with certified environmental
management systems

See p. 24, Cabot’s 2025 sustainability goals include tracking an internal metric for the percent of sites with certified
environmental management systems.

2-27

Compliance with laws and regulations

See GRI Disclosure 27 on page 53 for details.

55 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

EnergyDisclosure
Number

Disclosure Title

Page Number / Response

GRI 3: Material Topics 2021
3-3Management of material topics

pp. 45-46

GRI 307: Environmental Compliance 2016
302-1

Energy consumption within the organization

p. 25
For more information about our energy and fuel sources, refer to Cabot’s CDP Climate Change 2022 Response.

Air Pollutants / GHG
Disclosure
Number

Disclosure Title

Page Number / Response

GRI 3: Material Topics 2021
3-3Management of material topics

pp. 45, 46

GRI 305: Emissions 2016
305-1

Direct (Scope 1) GHG Emissions

In addition to the total Scope 1 and Scope 2 (market-based) emissions reported on p. 26, Cabot’s total Scope 1 and Scope 2(location-based) emissions* for 2022 were 4.36 MM MT CO2e.
Our greenhouse gas calculations were completed in accordance with The Greenhouse Gas Protocol: Corporate Accounting andReporting Standards (Revised Edition) and drawing guidance from the IPCC Guidelines for National Greenhouse Gas Inventories –2006 and The Climate Registry: General Reporting Protocol. Emissions were calculated using the operational control approach and
IPCC Sixth Assessment Report 100-year global warming potentials, and included emissions of CO2, CH4 and N2O. We maintain databasesthat track monthly usage volumes of feedstock materials and fossil fuels, as well as production volume. Scope 1 CO2 emissions fromthe manufacturing process are calculated using Cabot’s own data based on a mass balance calculation. Scope 1 CH4 emissions fromthe manufacturing process are calculated using an emission factor published in IPCC’s 2006 Guidelines for National Greenhouse
Gas Inventories. Scope 1 GHG emissions from stationary combustion are calculated using emission factors published in IPCC’s 2006
Guidelines for National Greenhouse Gas Inventories.
Our Scope 1 and Scope 2 GHG emissions (location-based and market-based) undergo a limited
assurance in accordance with the International Standard for Assurance Engagements ISAE 3000 (revised).

305-2

Indirect (Scope 2) GHG Emissions

In addition to the market-based reporting on p. 26, Cabot’s total Scope 2 GHG emissions (location-based)* for 2022 were0.33 MM MT CO2e. See GRI disclosure 305-1 above for a description of GHG monitoring methods. Scope 2 GHG emissions from the purchase of electricity are calculated using the latest available United States Environmental Protection Agency’s eGRID emission factors
and the latest International Energy Agency’s (IEA) country-specific emission factors and the amount of electricity purchased for location based values. Market-based values are adjusted for the purchase of any renewable energy certificates or are taken directly froma contract value or the residual values based on the data from Residual Mix for Market Based Calculation Green-e Energy Residual Mix
Rates (2022) for US values and the Residual Mix values from the AIB 2021 Residual Mix Report for Europe and the amount of energy
purchased. All other Market based values use the IEA country specific value consistent with the location based values.

305-4

GHG emissions intensity

In addition to the market-based reporting on p. 26, Cabot’s Scope 2 GHG emissions intensity (location-based)*
was 0.15 MTCO2e/MT production.
GHG intensity is calculated as MT CO2e emissions/MT of product. The intensity of our GHG emissions is calculated for all Scope 1 and 2
emissions produced by facilities under Cabot’s operational control, as reported under GRI disclosures 305-1 and 305-2. Values reported are rounded to two decimal points for reporting purposes.

305-7

Nitrogen oxides (NOX), sulfur oxides (SOX)and other significant air emissions

p. 26

56 CABOT 2023
2022 SUSTAINABILITY REPORT

Absolute Emissions

2020

2021

2022

SO2 Emissions (KMT)

33.68

39.17*

35.68*NOx Emissions (KMT)

8.10

8.88*

7.59*

Message from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

Waste
Disclosure
Number

Disclosure Title

Page Number / Response

GRI 3: Material Topics 2021
3-3Management of material topics

p. 46

GRI 306: Waste 2020
306-1

Waste generation and significant
waste-related impacts

p. 27

306-2

Management of significant waste-related impacts

pp. 16, 27

306-3

Waste generated

p. 27

306-4

Waste diverted from disposal

p. 27
Recycling and reuse activities occur both within Cabot’s facilities and off-site. Materials recycled on-site are not tracked and are
excluded from the data below. The table represents the total diversion for non-hazardous and hazardous waste off-site:
Reused or Recycled (KMT)

306-5

Waste directed to disposal

Disclosure Title

Management of material topics

57

Interactions with water as a shared resource

CABOT 2023
2022 SUSTAINABILITY REPORT

Total

28.26

Hazardous

Incinerated with energy recovery (KMT)

2.80

0.21

Incinerated without energy recovery (KMT)

0.29

1.61

Deep well injection (KMT)

0.00

133.06

Landfilled (KMT)

26.75

0.05

Other (KMT)

0.41

0.87

Subtotal

30.25

135.80Total

166.05

Page Number / Response

p. 47

GRI 303: Water and Effluents 2018
303-1

3.82

Non-hazardous

GRI 3: Material Topics 2021
3-3

Hazardous

24.43

p. 27
Disposal activities occur offsite from Cabot’s facilities, except for deep well injection. Total waste by category of disposal
operations is provided below:

Water
Disclosure
NumberNon-hazardous

pp. 28-29

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Appendices

303-2

Management of water discharge-related impacts

pp. 28, 29
Standards for wastewater discharge and the profile of receiving waterbodies are determined by local regulations as part of thepermitting process. Cabot’s wastewater discharge is treated as required and discharged generally in compliance with its permitted
limits. Where exceedances occur, corrective actions are implemented.

303-3

Water withdrawal

pp. 28, 29
Cabot’s metric for water withdrawal includes surface water, brackish/seawater, purchased water, and groundwater,
but excludes gray water.
All Surface, Purchased, and Groundwater are considered fresh (<1,000 mg/L Total Dissolved Solids [TDS]),
while Brackish/Seawater is >1,000 mg/L TDS.
6.70 MM m3 (14%) of Cabot’s water withdrawal (excluding gray water) occurs in areas identified as High or Very High Water Stress.

303-4

Water discharge

p. 28, 29
All discharges of Surface, Public or Private Sewer, and Groundwater are considered fresh (<1,000 mg/L TDS),
while Brackish/Seawater is >1,000 mg/L TDS.
1.29 MM m3 (4%) of Cabot’s absolute water discharge occurred in areas identified as High or Very High Water Stressaccording to the WRI Aqueduct Analysis.
Cabot follows the discharge limits for priority substances which are set by local regulations.

303-5

Water consumption

pp. 28, 29
Cabot’s water consumption metric is calculated by subtracting total water discharge from total water withdrawal(and excludes gray water).
5.41 MM m3 (47%) of Cabot’s water consumption occurs in areas identified as High or Very High Water Stress.

CARING FOR OUR PEOPLE AND COMMUNITIES
Occupational Health and Safety
Disclosure
Number

Disclosure Title

Page Number / Response

GRI 3: Material Topics 2021
3-3Management of material topics

pp. 47-48

GRI 403: Occupational Health and Safety 2018403-1

Occupational health and safety
management systemp. 48
Potential exclusions to our safety program may include joint ventures where Cabot is not the controlling managing partner
and/or where Cabot owns less than 50% of the Joint Venture.

403-2

Hazard identification, risk assessment,
and incident investigation

pp. 30, 47-48

403-3

Occupational health services

p. 48

403-4

Worker participation, consultation, andcommunication on occupational health and safety

p. 48

403-5

Worker training on occupational health and safety

pp. 30, 48

403-6

Promotion of worker healthp. 50

58 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

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Creating a Sustainable Future

Our Performance

About this Report

Appendices403-7

Prevention and mitigation of occupational
health and safety impacts directly linked bybusiness relationships

Cabot’s Supplier Code of Conduct requires that all suppliers implement robust safety management programs and commit tocontinuous improvement for safety performance. Contractors with negative health and safety records or performance will be
removed from our sites. We also share safety resources and partner with adjacent facilities within industrial parks, where feasible.

403-9

Work-related injuries

p. 30
Methods for calculating each metric are provided below:
u Total Recordable Incident Rate (TRIR): Number of injuries (employees and contractors) per 200,000 work hours (~100 employees)
u Lost Time Incident Rate (LTIR): Number of lost time injuries (employees and contractors) per 200,000 work hours (~100 employees)
u Severity Rate:– Cabot Severity Rate: Number of lost workdays (employees and contractors) per 200,000 work hours (~100 employees)– Ecovadis Lost Time Injury Frequency Rate: (Total number of lost time injury events) x 1,000,000/total hours worked company wide
– Ecovadis Lost Time Injury Severity Rate: (Number of days lost due to injuries) x 1,000/total hours workedu Process Safety Events: (PSE): Defined by the Center for Chemical Process Safety as a “release of material or energy froma process that resulted in injury, fire or explosion, or release of flammable, combustible or toxic chemicals.”u High Consequence Work-Related Injuries: Number of lost time cases greater than 180 days (excluding fatalities)
2022 Safety Rates
Employees vs. Contractors

Employees
NumberNumberRate

Fatalities

0

0.00

0

0.00

High Consequence Work-Related Injuries

0

0.00

0

0.00

Recordable Work-Related Injuries

14

0.32

7

0.27

Total Hours Worked

8,780,572*Rates calculated on a 200,000 work-hour basis
Severity Rates

59 CABOT 2023
2022 SUSTAINABILITY REPORT

Contractors
Rate

2022

Cabot Severity Rate

3.43

Ecovadis Lost Time Injury Frequency Rate

0.93

Ecovadis Lost Time Injury Severity Rate

0.02

5,163,450

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Appendices

50-59

60+

Employment, Diversity and Training
Disclosure
Number

Disclosure Title

Page Number / Response

GRI 3: Material Topics 2021
3-3Management of material topics

pp. 49-50

GRI 401: Employment 2016
401-1

New employee hires and employee turnover

p. 33
GenderMale

FemaleDeparting

736

23%

244

25%

New Hires

542

17%

190

19%

RegionAmericas

EMEA

APAC

Departing

361

21%

468

42%

151

11%

New Hires

286

17%

169

15%

277

19%

Age Group

<30

30-39

40-49

Departing

117

24%

251

18%

193

16%

236

27%

183

69%

New Hires

238

49%

294

21%

148

12%

48

6%

4

2%

The number of employee departures includes employees that left Cabot due to the Purification Solutions divestiture in March 2022.
The divestiture makes up 48% of the reported 980 total departures. In EMEA, the divestiture represents 67% of the region’s departures.
401-2

Benefits provided to full-time employees

p. 50

404-2

Programs for upgrading employee skills andtransition assistance programs

pp. 32, 49-50

404-3

Percentage of employees receiving regularperformance and career development reviews

p. 33
79% of Cabot employees were eligible for performance reviews. Among these, 100% received performance reviews in 2022,
including the following:

60 CABOT 2023
2022 SUSTAINABILITY REPORT

Performance Reviews by Eligible
Employee Category

Performance Reviews by Gender(Among Eligible Employees)

Clerical/Technical

100%

Male

100%

Professional/Supervisor

100%

Female100%

Management/Experienced100%Message from Our CEO

Cabot at a Glance

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Appendices

GRI 405: Diversity and Equal Opportunity 2016405-1

Diversity of governance bodies and employees

pp. 10, 31-32
Diversity of Board of Directors at theend of 2022 by Age Group

Diversity of Board of Directors at theend of 2021 by Race/Ethnicity4

Under 30

0%

Asian

2

30-50

0%

Hispanic/Latino

1

Over 50

100%

White

7

4

US-based Board members

GRI 406: Non-Discrimination 2016406-1

Incidents of discrimination and corrective
actions taken

Allegations of discrimination:

5

Open (from previous year)

New Claims Alleged5

Total Claims Closed

Total Open Cases

2

8

8

2

The 8 alleged claims included 4 anonymous reports related to the same allegations.

Corrective actions taken:
No Action

Disclosure Title

Management of material topics

61

Operations with local community engagement,
impact assessments, and development programs

CABOT 2023
2022 SUSTAINABILITY REPORT

Termination

-

-

-

-

-

4

4

4

-

-

Page Number / Response

p. 51

GRI 413: Local Communities 2016413-1

Discipline

Substantiated

GRI 3: Material Topics 2021
3-3

Training

UnsubstantiatedCommunity Engagement
Disclosure
NumberPolicy Review

pp. 33-35

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Creating a Sustainable Future

Our Performance

About this Report

Appendices

SASB Chemicals Index
Industry Standard Version 2018-10
Greenhouse Gas Emissions
Code

Accounting Metric

Page Number / Response

RT-CH-110a.1

Gross global Scope 1 emissions, percentage covered
under emissions-limiting regulations

p. 26
39.4% of our Scope 1 emissions are covered under cap and trade or carbon tax schemes.

RT-CH-110a.2

Discussion of long-term and short-term strategy or plan to
manage Scope 1 emissions, emissions reduction targets,and analysis of performance against those targets

pp. 14, 26
See p. 56 GRI Index, GRI 305-1 for our methodology. Cabot’s GHG reduction strategy was started in 2010 as avoluntary program and has continued to evolve with our team coordination, planning activities, and projects
in support of the 2025 sustainability goals.

Code

Accounting Metric

Page Number / Response

RT-CH-120a.1

Air emissions of the following pollutants:(1) NOX (excluding N2O), (2) SO2, (3) volatile organic compounds(VOCs), (4) hazardous air pollutants (HAPs)

p. 26
Emissions data are either directly measured or determined with engineering calculations based on production.
At the present time, we do not globally track VOCs or HAPs, but our facilities typically control these emissions
through combustion control equipment.

Air Quality

Energy Management
Code

Accounting Metric

Page Number / Response

RT-CH-130a.1(1) Total energy consumed, (2) percentage grid electricity,(3) percentage renewable, (4) total self-generated energy

p. 25
1. Total non-raw material energy consumed: 5.5 MM GJ
2. Percentage of non-raw material energy from grid electricity: 44.4%
3. Percentage of non-raw material energy from renewables: 2.3%
4. Total self-generated energy: 14,634 TJ (includes steam and electricity generation for internal use and export
and other energy exports associated with tailgas as a fuel and heat source).

Water Management
Code

Accounting Metric

Page Number / Response

RT-CH-140a.1(1) Total water withdrawn, (2) total water consumed,
percentage of each in regions with High or ExtremelyHigh Baseline Water Stresspp. 28-29
Percentage of total water withdrawn in regions with High or Extremely High Baseline Water Stress: 14%
Percentage of total water consumed in regions with High or Extremely High Baseline Water Stress: 47%

RT-CH-140a.2

Number of incidents of noncompliance associated withwater quality permits, standards and regulations

There were six water quality permit deviations in 2022.

RT-CH-140a.3

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

pp. 28-29, 47
Water management risks vary by site and include physical constraints on availability and discharge, sensitive
catchments, flood risk, regulatory and permitting restrictions, and water cost considerations.
At some facilities, Cabot faces trade-offs between water efficiency and other priorities. These include energy recovery
systems that capture waste heat but require more water to operate efficiently and air pollution control technology that
requires water to help reduce air emissions.

62 CABOT 2023
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Cabot at a Glance

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Creating a Sustainable Future

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Appendices

Hazardous Waste Management
Code

Accounting Metric

Page Number / Response

RT-CH-150a.1

Amount of hazardous waste generated; percentage recycled

p. 27
Wastes are defined as hazardous pursuant to applicable regulations at each facility. For example, in the United States,
hazardous waste is primarily defined by the Resource Conservation and Recovery Act (in addition to state and local
regulations), and in the European Union, it is based on the EU Waste Framework Directive (Directive 2008/98/EC on
waste, including its subsequent amendments) along with other local requirements.
Hazardous
Reused or Recycled (MT)3,820

Total Hazardous Waste (MT)139,620% Recycled

2.7%

Community Relations
Code

Accounting Metric

Page Number / Response

RT-CH-210a.1

Discussion of engagement processes to manage risks andopportunities associated with community interests

pp. 33-35, 38

Workforce Health & Safety
Code

Accounting Metric

Page Number / Response

RT-CH-320a.1(1) TRIR and (2) fatality rate for (a) direct employees and(b) contract employees

p. 30
Refer to the data table “2022 Safety Rates Employees vs. Contractors” located in the GRI Content Index under
GRI 403-9 on p. 59.

RT-CH-320a.2

Description of efforts to assess, monitor and reduce exposureof employees and contract workers to long-term (chronic)
health risks

pp. 47-48

Product Design for Use-Phase Efficiency
Code

Accounting Metric

Page Number / Response

RT-CH-410a.1

Revenue from products designed for use-phaseresource efficiency

Our sustainability assessment framework for new products and processes includes questions related to use-phaseefficiency. We anticipate that in the coming years, we will be better positioned to disclose the associated revenue
generated from products that impart benefits in use-phase efficiency. Refer to p. 17, 21-22 for recent examples of
products with use-phase efficiency.

Safety and Environmental Stewardship of Chemicals
Code

Accounting Metric

Page Number / Response

RT-CH-410b.1(1) Percentage of products that contain Globally Harmonized
System of Classification and Labeling of Chemicals (GHS)
Category 1 and 2 Health and Environmental Hazardous
Substances, (2) percentage of such products that haveundergone a hazard assessment

3% of products contain Category 1 and 2 substances. Of these, 100% have undergone a hazard assessment.

RT-CH-410b.2

Discussion of strategy to (1) manage chemicals of concern,(2) develop alternatives with reduced human and /or
environmental impact

pp. 21, 43

63 CABOT 2023
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Cabot at a Glance

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Creating a Sustainable Future

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Appendices

Genetically Modified Organisms
Code

Accounting Metric

Page Number / Response

RT-CH-410c.1

Percentage of products by revenue that contain geneticallymodified organisms (GMOs)

None of our products contain GMOs.

Management of the Legal and Regulatory Environment
Code

Accounting Metric

Page Number / Response

RT-CH-530a.1

Discussion of corporate positions related to government
regulations and/or policy proposals that address environmental
and social factors affecting the industry

pp. 11, 42-43, 65
Cabot reviews new or pending regulations that may affect its operations globally through a variety of mechanisms,
including industry associations, newsletters, reporting services, and various other avenues. Cabot may comment
on a certain number of those regulations. We evaluate new regulations to determine what actions are required to
implement them where applicable, including the financial costs of these regulations to the Corporation. For additional
information, see Cabot’s Annual Report and Form 10-K, filed January 26, 2023, Part 1, pp. 13-18.

Operational Safety, Emergency Preparedness and Response
Code

Accounting Metric

Page Number / Response

RT-CH-540a.1

Process Safety Incidents Count (PSIC), Process Safety Total
Incident Rate (PSTIR) and Process Safety Incident Severity Rate
(PSISR)u

RT-CH-540a.2

p. 30
Process Safety Incident Count: Two, based on Tier 1 process safety incidents per ANSI/API RP 754.
u Process Safety Total Incident Rate: 0.03, based on PSIC x 200,000 divided by total employee and contractor hours.
u We currently do not calculate the Process Safety Incident Severity Rate.

Number of transport incidents

Cabot devotes time and energy to partner with quality third party transporters to ensure that safety and security
are the top priorities, which is evident in the low amount of transportation related incidents. Processes include thequalification of transport companies, including standards for insurance certifications, driver capabilities, and routesecurity. We had one transportation related incident in 2022. In that incident, a portion of a carbon black shipment
operated by a third-party transportation service was stolen. The remainder of the shipment was recovered.
Working with a third-party security consultant, the incident was investigated, and improvements were madewith the carrier regarding labeling of the carrier vehicles, training of transport drivers and communications
within scheduling shipments.

Code

Accounting Metric

Page Number / Response

RT-CH-000.A

Production by Reportable Segment

2,197,000 MT

Activity Metric

64 CABOT 2023
2022 SUSTAINABILITY REPORTMessage from Our CEO

Cabot at a Glance

Our Approach to Sustainability & ESG

Creating a Sustainable Future

Our Performance

About this Report

Appendices

TCFD Index
The index below summarizes how Cabot’s sustainability reporting aligns with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD).

Governance
TCFD Recommendations

Page Number / Responsea) D escribe the board’s oversight of climate-related risks and opportunities.

pp. 10-11, 15
See also Cabot’s 2023 Proxy Statement, pp. 6, 9-10b) Describe management’s role in assessing and managing climate-relatedrisks and opportunities.

pp. 11, 15
See also Cabot’s 2023 Proxy Statement, pp. 9-10

Strategy
TCFD Recommendations

Page Number / Responsea) D escribe the climate-related risks and opportunities the organization
has identified over the short, medium, and long term.

pp. 9, 14, 46
Refer to Cabot’s TCFD Climate Scenario Risks and Opportunities Matrix. See also Cabot’s 2023 Proxy Statement,
pp. 9-10, and Cabot’s Annual Report and Form 10-K, filed January 26, 2023, Part 1, pp. 13-15, 18.

b) Describe the impact of climate-related risks and opportunities on theorganization’s businesses, strategy, and financial planning.

pp. 3-4, 7, 9, 14, 16, 17, 46
See also Cabot’s Annual Report and Form 10-K, filed January 26, 2023, Part 1, pp. 13-15, 18c) Describe the resilience of the organization’s strategy, taking into considerationdifferent climate-related scenarios, including a 2°C or lower scenario.

pp. 16, 17, 25, 26, 28-29
See also Cabot’s 2023 Proxy Statement, pp. 9-10, and Cabot’s Annual Report and Form 10-K, filed January 26, 2023,
Part 1, pp. 13-15, 18

Risk Management
TCFD Recommendations

Page Number / Responsea) D escribe the organization’s processes for identifying and assessing
climate-related risks.

Refer to Cabot’s TCFD Climate Scenario Risks and Opportunities Matrix.
See also Cabot’s 2023 Proxy Statement, pp. 9-10b) Describe the organization’s processes for managing climate-related risks.

pp. 11, 25-26, 28-29, 37, 42, 45-47
See also Cabot’s 2023 Proxy Statement, pp. 9-10.

c) Describe how processes for identifying, assessing, and managing climaterelated risks are integrated into the organization’s overall risk management.

pp. 11, 26, 42
See also Annual Report and Form 10-K, filed January 26, 2023, Part 1, pp. 13-15, 18.
See also Cabot’s 2023 Proxy Statement, pp. 9-10

Metrics and Targets
TCFD Recommendations

Page Number / Responsea) D isclose the metrics used by the organization to assess climate-related risks
and opportunities in line with its strategy and risk management process.

pp. 19, 21, 23, 25-26, 28-29
For a description of GHG methodologies, see GRI Disclosures 305-1 and 305-4 on p. 56.

b) D isclose Scope 1, Scope 2 and, if appropriate, Scope 3 greenhouse gas
emissions and the related risks.

pp. 21, 23, 25-26c) Describe the targets used by the organization to manage climate-relatedrisks and opportunities and performance against targets.

pp. 14, 19, 25-26, 28-29
For information on remuneration practices, see the Cabot 2023 Proxy Statement, pp. 13-14.

65 CABOT 2023
2022 SUSTAINABILITY REPORTCabot Corporation 2023 Sustainability Report
We welcome your feedback on this report and our sustainability progress, as well as any other comments or questions you may have.
You may contact us at sustainability@cabotcorp.com. To learn more, please visit: cabotcorp.com/sustainability.