FOUR SE ASONSHOTELS ANDRESORTS
2021 EN VIRONMENTAL ,SOCIAL A ND GOVER N A NCE(ESG) SUMM A RY REPORTCONTENTSI N T RODUCT I O N

3OUR COM M I T M EN T TO PEOPL E A N D T H E PL A N E T
PER FOR M A NCE H IGH L IGH TS
PL A N E T

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PEOPL E28

GOV ER N A NCE

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FOUR SE ASONS FOR T H E FU T UR E

COV ER IM AG E: Four Seasons Resort Maldives at Landaa Giraavaru

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INTRODUCTION

3ABOUT THIS REPORTThis report contains information about
the Environmental, Social and Governance(ESG) performance of Four Seasons
Hotels and Resorts (“Four Seasons”
or “the Company”). Our inaugural ESG
Summary Report is designed to share
our ESG accomplishments to date andour vision for the future. This report covers
our efforts through the calendar year
ending December 31, 2021.

IM AG E: Four Seasons Hotel San Francisco

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ABOUT FOUR SE ASONS

Four Seasons is a global luxury brand headquartered in Toronto,
Canada. As of year-end 2021, the Company manages 122 hotels
and resorts and 48 residential properties in major city centres andresort locations in 47 countries, with more than 50 projects underplanning or development. Over 43,500 staff are employed at the
managed properties and the Company’s offices.

Four Seasons manages ourproperties on behalf of third-party
owners, working with them closely todesign and deliver a Four Seasons
lifestyle experience through continual
innovation and the highest standardsof service. We are also extending our
luxury lifestyle offering beyond hotels
and residences through the growth ofPrivate Retreats, our portfolio of luxury
villa and vacation home rentals; ourbespoke Private Jet experience;

IM AG E: Four Seasons Hotel Philadelphia at Comcast Centerand through the Four Seasons at Home
luxury goods collection. We havea complex and predominantly
decentralized global supply chain,with approximately 400 suppliers
managed centrally through our
Sourcing and Procurement function.
This supply base represents 70% of
the Operating Supplies and Equipment(OS&E) products in our guestrooms,
and a significant number of suppliersin the tabletop categories. The
remaining goods and all services
are sourced by our properties.

5OUR GLOBAL PORTFOLIONOR TH A MER ICA

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15 H OT ELS
6 R ESO RTS

21

25 H OT ELS
16 R ESO RTSCE NTR A L & SOUTH A MER ICA
4 H OT ELS
6 R ESO RTSEUROPE

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MID D LE E AST & A FR ICA

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14 H OT ELS
7 R ESO RTS

AS I A & PACIFIC
19 H OT ELS
10 R ESO RTS

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A HISTORY OF PHIL A NTHROPY,SUSTAINABILIT Y, A ND CARE

Our Company was founded in 1960 by Isadore Sharp, a young
Canadian architect who believed in only operating medium-sized
hotels of exceptional quality with an objective to be the best.

As Isadore expanded the Company into
what soon became one of the world’s
leading luxury hospitality brands, henever lost sight of his guiding principleof the Golden Rule – the simple ideathat we should treat others the way
we would want to be treated. Today,
Isadore Sharp’s vision remains deeply
embedded in our Company’s culture,and provides the foundation for our
ESG programs.
Throughout Four Seasons history, theprinciple of the Golden Rule directed
more than the guest experience, but
all connections with our environment,
people, and community. Isadore and hiswife Rosalie are active philanthropists,
IM AG E: Four Seasons Resort Palm Beachhaving donated money, time,and public support to both local
and global causes for decades.
At our managed properties andcorporate offices, employees havedemonstrated the Golden Rule
through years of philanthropic andenvironmental partnerships benefitting
their local communities.

“The reason for our successis no secret. It’s the Golden
Rule – the simple idea that
we should treat others the way
we would want to be treated.”
ISA D OR E S H A R P,
FOU N D ER A N D C H A IR M A N
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OUR COMMITMENT TOPEOPLE AND THE PL ANE T

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OUR COMMITMENT
We are committed to building upon our Company’s
strong history of supporting our communities and theenvironment. Through our ESG program we seek topreserve and regenerate the beautiful places in which
we operate, and leave a positive, enduring impact
on our communities.
Our ESG program is centered around two pillars:
Planet (environmental impact) and People (social
impact). Each pillar is supported by specific activities
and objectives, with a close eye to how our efforts willcontribute to the achievement of the United Nations’Sustainable Development Goals (SDGs).

IM AG E: Four Seasons Resort Maldives at Kuda Huraa

9PL A NE T

We’re passionate about leaving
the world better than when we
found it. We don’t just want to be
best in the world, we need to be
the best for the world. That’s why
we are focused on protecting andregenerating the planet so thatthe only imprint we leave is apositive one.

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2

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DESIG NING
SUSTAIN ABLE
EN VIRONMENTSMINIMIZINGOURFOOTPRINTCONNECTING
TO THE EN VIRONMENTLOCALLY

Design and build to maximize
efficiency and minimize impact

Seek to protect and regenerate
the planet by focusing oncarbon, energy, water,
waste, and biodiversity

Engage and educate
team members in preserving
our planet

Create spaces that promote
human health and community
Prioritize sustainable building
materials and innovativetechnologies

Assess and mitigate
our climate risk

Implement conservation
programs to protect biodiversity
and enhance local ecosystems

Champion sustainability in oursourcing and procurement

Inspire others to makean imprint for good10

PEOPLE

We’re committed to enriching lives
by making a positive and enduring
impact on our communities. Fromhelping our diverse teams to reach
their full potential, to giving backwith kindness and care to those
who need it – together we makeit possible to transform futures,
create belonging and build
memories that imprint on
the hearts of others.

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ADVA NCING DIVERSIT Y,
INCLUSION A ND
BELONGING

CR E ATING
LIFE- CH A NGINGOPPORTUNITIESGIVINGBACKLOCALLY

Foster an environment where
diverse team members are
represented, heard, and belong

Transform futures ofunderprivileged local talentthrough career opportunities
and development

Support cancer researchwithin our communities

Empower underrepresented
groups through local business
partnerships

Promote respect forhuman rights across ourvalue chain

Donate time and funds
locally to those in need
Support team members
in times of crisis
Inspire others to makean imprint for good

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INDUSTRY COLL ABOR ATION
We are proud to help drive collective action
across the hospitality industry through ourindustry associations, including through ourparticipation in the Sustainable Hospitality Alliance(SHA) and the American Hotel and Lodging
Association (AHLA) Sustainability Committee.
As members of SHA since 2012, our teams
have supported the development of industry
materials, including the Pathway for Net Positive,
Hotel Waste Measurement Methodology andHotel Net Zero Methodology. We are also proud
to endorse the SHA’s Principles on Forced
Labour, which we have incorporated into
our Company’s Human Rights Policy.

IM AG E: Four Seasons Resort The Nam Hai, Hoi An

OUR COMMITMENT TOCONTINUOUS IMPROVEMENT
We seek to continually improve our ESG
performance and demonstrate transparency
in our disclosures. In 2022 we will expand
our existing ESG efforts by finalizing ambitious,
long-term ESG goals that will solidify ourcommitment to driving change across ourindustry and beyond. As we further strengthen
our ESG programs, we will continue to develop
our reporting, including through our annual ESG
reports. We intend to align our ESG reportingwith globally recognised frameworks such as
the Global Reporting Initiative (GRI).

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PERFORMANCE HIGHLIGHTS

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Establishing our ESG governancestructure, including forming ESG
Committees at the Board andExecutive Leadership Team levels,and assigning executive sponsors tolead our ESG workstreams

Building an ESG team to develop
and oversee our global strategy
and set ambitious, long-term goals
to guide our Company’s
programs and progress

Establishing new and updating existing
global policies to govern our ESG
program, including our Human Rights
Policy, Environmental Policy, andSupplier Code of Conduct

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Expanding use of oursustainability management
software system across all ofour properties globally

Developing and implementing
global strategies for single use
plastic elimination and sustainable
food and beverage programs

Advancing our global Diversity,
Inclusion and Belonging (DIB) strategy
through education, programming, andinfrastructure, and building a team tosupport our DIB efforts

PERFORMA NCE HIGHLIGHTS

In 2020 and 2021 we took
concrete actions to formalize
our Company’s longstanding
ESG efforts into our comprehensive
program. Building upon the many
existing initiatives happening at our
properties around the world,
our global ESG efforts
to date include:

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Formalizing our corporate
strategy around community
support and philanthropy

Consolidating our corporate
philanthropic donations
approach and budget

Launching ourGolden Rule Relief Fund tosupport employees affectedby large-scale disasters

Engaging our property
teams on ESG, throughguidance, training, and bestpractice sharing

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PL ANE T

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PL A NE T

As stewards of the ecosystems in which
we operate, Four Seasons recognizes
our critical role in preserving the planet
for future generations. We are committed
to embedding sustainability practices
throughout our global operations. We arereviewing the entire lifecycle of our hotels,
resorts, residences, and corporate offices
to address our environmental impact
across our operations, our supply chain,
and in our communities. In 2021, we took
critical steps to understand and reduce
our environmental footprint.

IM AG E: Four Seasons Safari Lodge Serengeti

16OUR PL ANE T FOCUS ARE AS:

1

Designingsustainable
environments

2
Minimizing
our footprint

3

Connecting
to theenvironment
locally

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OUR PL ANE T FOCUS ARE AS:

1

Designingsustainable
environments

2
Minimizing
our footprint

3

Connecting
to theenvironment
locally18

PL A NE T / D ES IG NING S USTA IN A B LE E N V IRO N ME NTSDESIG NING
SUSTAINABLE
ENVIRONMENTS

Reducing our impact on the planet starts
with designing and building hotels, resorts,
residences, and experiences that harness
innovation and align with our sustainability
principles. That is why all of our designand construction projects are required
to have sustainability consultants on staff,
focused on integrating sustainability
into our design processes.
This year we reviewed leading international
standards and best practices in sustainablebuilding, construction and design, to inform thecreation of Sustainable Design & Construction
Standards that will apply across all of our new
construction projects and major renovations.
Through these new standards, we will ensurethat all new projects are high efficiency
buildings that promote human health andhave the capability to adapt to the growing

IM AG E: Four Seasons Resort Costa Rica at Peninsula Papagayo

impacts of our changing climate. We are also
focused on prioritizing sustainable building
materials and innovative technologies.
By prioritizing our sustainable design
objectives, we seek to better contribute to
the sustainability, health, and resiliency ofthe communities in which we will operate.

By prioritizing oursustainable design
objectives, we seek
to better contributeto the sustainability,
health, and resiliencyof the communities inwhich we will operate.

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OUR PL ANE T FOCUS ARE AS:

1

Designingsustainable
environments

2
Minimizing
our footprint

3

Connecting
to theenvironment
locally20

PL A NE T / MINIMIZING OUR FOOTPR INT

BUILDINGOUR BASELINEREDUCING ENERGY
A ND CARBONOUR ESG PROGR AM
IN ACTION
FOUR S E ASO N S HOTEL H A MPS HIR E

We are focused on gaining an accurate
understanding of our current environmental
footprint, to inform our strategy and support
the development of our goals. In 2020 and
2021, we began reviewing and cataloguingthe many leading efforts happening at ourhotels, resorts, and residences around theworld. In 2021, we expanded use of oursustainability management software system
to all properties globally, capturing granularutility data dating back to 2018. Throughthis effort we are building our environmental
baseline, in preparation for establishing global
and property-level reduction goals.

We recognize that climate change posesa critical threat to our planet and its people.
Our primary source of emissions is from theenergy used to operate our hotels, resorts,
and residences. Our properties around theworld are taking steps to reduce their energy
consumption through energy efficiency
programs that focus on low- and no-cost
upgrades and behavioural changes, as well aslarger-scale investments in capital improvement
projects such as energy efficient building
systems. All of our properties are required toundertake detailed energy and water audits todrive continual identification and implementationof energy conservation opportunities.

We recognize the criticalimportance of understanding
our current environmental
footprint, to inform ourstrategy and support thedevelopment of our goals.

In addition to reducing our energy
consumption, we are focused on deploying
renewable energy to reduce the emissions
associated with the remaining energy being
consumed. Currently 15% of our properties
report using on- or off-site renewable energy.
In 2021, we began evaluating the renewableenergy opportunities across our global portfolio,
in preparation for larger-scale deploymentof renewables in 2022 and 2023.

Four Seasons Hotel Hampshire, Englandhas undertaken significant energy efficiency
measures, including implementing LED lighting,intelligent kitchen hoods, and two Combined
Heat and Power (CHP) co-generation plantsthat generate 60% of the electrical consumption
for the hotel and spa, while using the latent
heat to provide hot water and heating. The hotelalso runs on 100% renewable electricity supply,
giving it a zero-carbon footprint in its electricalusage. In addition, in 2021 the hotel planted
a 200-tree orchard, providing the equivalentof over 30 tons of carbon reduction.

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PL A NE T / MINIMIZING OUR FOOTPR INT

IMPROVING
RECYCLINGCONSERVINGWATEROUR ESG PROGR AM
IN ACTION
FOUR S E ASO N S R ESOR T L A NG K AWI

We are taking steps to improve recycling in allof our properties around the world. In locations
where recycling is not currently available, weare committed to working with local partners
and governments to build capacity towards
establishing viable recycling programs. As part ofour Sustainable Food and Beverage program, allproperties globally are required to divert inedibleorganic waste from landfill through compostingor other means by 2025. Currently approximately
75% of our properties have recycling programs and
30% compost food waste, with 8% of properties
reporting that recycling is not currently available intheir jurisdiction.
46 of our hotels participate in soap bar and toiletrybottle recycling. Clean the World, our primarysoap recycling partner, recycles our hotels’ gently
used bars of soap by running them through theirrecycling process that filters, sanitizes, and turns
our soap into new bars that are then distributed
to those in need. Since beginning their programin 2009, Clean the World has distributed over 68
million bars of recycled soap in 127 countries andtheir efforts have contributed to a 60% reduction in
hygiene-related disease in the regions where theirsoap is distributed. Four Seasons has kept morethan 90 tons of soap and toiletry bottles out oflandfills through this partnership.

We recognize the critical nexus between climatechange and water, and that water availability,
quality, and quantity are heavily dependent on
the location and context of water consumption.
We are focused on reducing water consumption
in our hotels, resorts, and residences aroundthe world, with particular attention to regions
where water is scarce. In 2021, we updated our
Mechanical, Electrical, and Plumbing DesignStandards to require all new properties toinstall water submeters, to enable us to better
understand and address water consumption
within our properties. We are focused on
implementing water conservation measures,
including low-flow fixtures, leak detection
systems, rainwater harvesting, greywater reuse,
native landscaping, and water efficient irrigation.

Four Seasons Resort Langkawi, Malaysia
treats 100% of the property’s wastewater onsite and uses the reclaimed water to irrigate
the property’s 48 hectares of lush gardens,
including the resort’s on-site herb garden
and native plant nursery.

We are focused on reducing
water consumption in ourhotels, resorts and residences
around the world, withparticular attention to regions
where water is scarce.
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PL A NE T / MINIMIZING OUR FOOTPR INT

ELIMINATINGSINGLE USE PL ASTICSOUR ESG PROGR AM
IN ACTIONELIMIN ATING S ING LE US E PL ASTIC S

Single use plastics pose a significant threat
to our planet, particularly to the beautiful
marine ecosystems that surround many of ourproperties. Over the past several years, Four
Seasons has been focused on identifying
sources of disposable plastic and implementing
alternatives that reduce our environmental
footprint while delivering an elevated guest
experience. In 2018, we joined many of ourindustry peers in committing to eliminate plastic
straws, and in 2019 we committed to eliminate
single use plastics in our food and beverage
takeaway items and in our laundry presentation.
In 2019, we also launched our plastic-free
options for guest request items (toothbrushes,combs, brushes and dental kits). While the
COVID-19 pandemic resulted in a temporary
increase in the world’s use of single use plastic,
we have been using this time to research, plan,and pilot new solutions.
We are committed to eliminating single use
plastic from the guest experience. We willaccomplish this by addressing our final
remaining potential sources of single use

plastics: in-room amenities and water bottles.
All hotels are working to implement large format
bathroom amenities and remove single use
plastic water bottles by the end of 2022.
We are also working with our suppliers toeliminate disposable plastics from in-room
amenities, such as remaining toiletry kit items(razors, shaving cream, toothpaste packaging
and shower caps) and minibars.
We are replacing single use plastic items withmore sustainable materials that are reusable,
recyclable, or compostable, as well as sourced
sustainably and/or made of post-consumer
recycled content. Where possible, we are
implementing closed-loop refill systems toeliminate disposable packaging entirely. For
example, our hotels in Asia-Pacific partnerwith EcoSPIRITS to purchase premium spirits
through a low-waste, low-carbon, closed-loop
distribution system. Additionally, many of ourhotels around the world hydrate our guests withpremium filtered water that is bottled on-sitethrough zero waste refill systems.

In addition to removing plastics fromthe guest experience, we are focused on
reducing plastic waste in our Back of House.
All properties are expected to address single
use plastics in employee food and beverage
offerings, including water bottles. We areworking with our suppliers around the world
to reduce unnecessary packaging and to findenvironmentally preferred solutions to plastic
items used in our Back of House.

Our hotels around the world are taking
steps to eliminate single use plastics fromthe guest experience, including removing
plastic water bottles and implementing large
format bathroom amenities (pictured here atFour Seasons Hotel New Orleans).

Four Seasons iscommitted to eliminating
single use plastics inthe guest experience.

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PL A NE T / MINIMIZING OUR FOOTPR INTTACKLING
FOOD WASTE

OUR ESG PROGR AM
IN ACTION
FOU R S E ASO N S HOTEL G EORG E V, PA R IS

Globally, up to 40% of food is thrown away – allwhile more than 800 million people experiencehunger. We recognize that the hospitality
industry has a significant role to play in reducing
food waste, which is why Four Seasons has
partnered with the food waste experts at World
Wildlife Fund to develop and implement our
Sustainable Food and Beverage program.
Our program will focus on addressing
sustainability across three critical areasof our food and beverage operations:
1 / Cutting food waste by at least halfby 2030 against our 2019 baseline,
in alignment with UN Sustainable
Development Goal 12.3
2 / Sourcing responsibly to minimize ourenvironmental footprint and maximize ourpositive social impact
3 / Engaging and communicating with ourguests, suppliers and policymakers to drive
sustainable food systems

To achieve our ambitious targets,by the end of 2022 we will:∙ Train all Food and Beverage leaders
on food waste reduction techniques∙ Establish food donation partnerships
for all hotels, where legal

At Four Seasons Hotel George V, Paris,
organic waste from the property’s restaurants
is processed into compost that feeds the soil
in gardens near Versailles, France – in turngrowing the fruits and vegetables servedat the hotel’s restaurants.

We are also piloting food waste tracking
solutions Winnow and Lumitics in eightproperties, with the intention of rolling out
these types of Artificial Intelligence food waste
reduction solutions across our global portfolio
before 2025. We plan to share more detailon our Sustainable Food and Beverage
programs in 2022.

Four Seasons has
partnered with the foodwaste experts at World
Wildlife Fund to develop
and implement our
Sustainable Food andBeverage program.
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PL A NE T / MINIMIZING OUR FOOTPR INT

SOURCINGRESPONSIBLY

With operations in 47 countries around theworld, we know that our sourcing decisions
significantly impact our environmental, social,and economic footprint. That is why weare committed to driving sustainable andresponsible sourcing across our global
supply chain.
In 2021 we entered into a pilot with Mindclick
to assess and review the ESG performance ofpotential manufacturers of Furniture, Fixturesand Equipment (FF&E) for the renovation of Four
Seasons Hotel Toronto. Through Mindclick’s
Sustainability Assessment Program (MSAP),
we will be able to assess product performanceacross the product’s entire lifecycle, enabling
our design teams to easily identify and selectproducts that are better for the environmentand human health.
We are also integrating our sustainability
standards into our Spa and Wellness offerings.
All of our spas are required to offer organic
and/or sustainable products and areencouraged to offer brands that arefrom local businesses, where available.

IM AG E: Four Seasons Resort Bali at Jimbaran

We are committed to responsibly sourcing foodand beverage items through our Sustainable
Food and Beverage program. As part of thislarger commitment, we are aiming for at least
50% of our food and beverage to meet our
local, ethical, and/or sustainable sourcing
standards by 2025. We will also reduce thegreenhouse gas emissions of our menu
production and composition by at least 25% by2030, through initiatives such as an increased
emphasis on plant-based menu items. We are
currently reviewing our coffee offering across
our portfolio and transitioning towards 100%
Rainforest Alliance Certified coffee products.

With operations in 47
countries around theworld, we know that
our sourcing decisions
significantly impact ourenvironmental, socialand economic footprint.

We are also committed to respecting animal
welfare throughout our global operations. In
2019, we worked with The Humane League
to solidify our commitment to source only
cage-free eggs by 2025. Our properties in
the US, Canada, and Europe achieved thisgoal by 2020, and we are on track to meet
our commitment across the remainder ofour global portfolio.

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OUR PL ANE T FOCUS ARE AS:

1

Designingsustainable
environments

2
Minimizing
our footprint

3

Connecting
to theenvironment
locally26

PL A NE T / CO N NECTING TO THE E N V IRO N ME NT LOCA LLY

ENGAGINGOUR TEAMSIMPLEMENTINGCONSERVATION PROGR AMSOUR ESG PROGR AM
IN ACTION
FOUR S E ASO N S R ESOR TS M A LD I V ES

Our portfolio’s caring, passionate, and skilledemployees are integral to every aspect of theCompany’s success, and ESG efforts are no
exception. We would be unable to progress
any of our efforts without the dedication andcommitment of the 43,500 employees aroundthe world. In 2021, our industry continued
to face significant challenges due to theimpacts of the COVID-19 pandemic, including
staffing shortages. Knowing how stretched
our portfolio’s employees were, we sought toengage them through light touch, high-impact
measures. We encouraged all properties tore-establish their Green Teams, consisting ofproperty-level leaders focused on implementing
sustainability objectives, and provided guidance
to those teams, establishing a quarterly
Environmental Newsletter.
We also developed an optional sustainability
curriculum through LinkedIn Learning.
In 2020 and 2021 we distributed operational
guidance to our property teams, outlining
our required Sustainability Standards as well
as best practices. Our portfolio’s employees
have demonstrated consistent passion anddedication to our environmental efforts and are
excited, engaged partners in our future strategy.

Whether a beachfront resort or an urban
residence, every property has an opportunity
to create a positive impact on the local
environment and to get employees and guests
involved in the process. We have set the goalfor each of our properties to establish programs
that contribute to local biodiversity andconservation. This could include actions suchas urban hotels installing beehives to protectthese critical pollinators, or resorts working withlocal conservation experts to replant mangroves
or protect coral reefs. Our properties around theworld are finding unique ways to protect theirlocal environments, engaging employees andguests along the way. Through these efforts,
we seek to inspire and enable actions thatmake an imprint for good.

In 2000, Four Seasons Resort Maldives at
Kuda Huraa began a pioneering partnershipwith Reefscapers to protect and regrow coralin the Maldives. Through the Four SeasonsReefscapers project, the Four Seasons
Resorts Maldives at Kuda Huraa and Landaa
Giraavaru have contributed to regrowing morethan 500,000 pieces of 40 species of coral,transplanted onto 7,000 coral frames. The
project is one of the most successful coral
replanting efforts in the world, featuring theIndian Ocean’s largest mass of artificial reefs.
Four Seasons guests can help plant the coral
and then watch their reef grow via photo
updates on the Marine Savers website.

Our properties aroundthe world are finding
unique ways to protect
their local environments,
engaging employees andguests along the way.
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PEOPLE

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PEOPLE

Supporting social causes has long
been part of Four Seasons history,
as supporting those in need is a clear
extension of the Golden Rule. We
believe that Four Seasons presence in
a community should improve lives, andwe are committed to enriching, supportingand elevating our portfolio’s employees
and their communities around the world.
Through this commitment, we seek tocreate an exceptional and enduring
impact in each of the communities
in which we operate.

IM AG E: Four Seasons Resort Nevis, West Indies

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OUR PEOPLE FOCUS ARE AS:

1Advancing
Diversity,
Inclusion andBelonging2

Creating
life-changing
opportunities

3

Giving backlocally

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OUR PEOPLE FOCUS ARE AS:

1Advancing
Diversity,
Inclusion andBelonging2

Creating
life-changing
opportunities

3

Giving backlocally

31

PEOPLE / A DVA N CING D I V ER S IT Y, IN CLUS IO N A ND B ELO NG ING

ADVA NCING DIVERSIT Y,
INCLUSION A ND BELONGINGOUR ESG PROGR AM
IN ACTION
FOUR S E ASO N S VOICES CA MPA IG N

Central to both employee experience and social
impact is advancing diversity and fostering
a culture of inclusion and belonging at our
corporate offices and properties worldwide. We
do not tolerate discrimination of any kind – noone should be treated differently based on theirrace, gender, age, religion, nationality, physicalor mental disability, sexual orientation, or any
other perceived difference.
We know that advancing diversity andinclusion creates a better overall quality oflife for all. To ensure that all employees feelvalued and that they belong at Four Seasons,
we have accelerated our global Diversity,
Inclusion & Belonging (DIB) strategy in thelast several years. Our progress in 2021
included the following:

1 / STR ATEGY A ND V IS IO N

3 / LISTE NING A ND COMMU NICATION

Each year we distribute a transparent DIB Journey
Map, outlining our annual plan to all employees,
connecting our objectives to our overall employee
experience and to our business goals.

Core to our journey is ensuring that we informand share important messages and stories,
understand employee sentiment and diverse
employee needs, and obtain feedback on
our DIB approach. We include targeted DIBquestions on our annual global employee
pulse survey and we release a quarterly DIB
newsletter. In 2021, we undertook DIB Global
Leadership Focus Groups and we provided
local listening kits to properties and corporate
offices, encouraging continuous listening
sessions with diverse employees as partof local feedback loops.

2 / LE A D ER S HIPLeaders from mid-level manager to our
executive team complete annual education
workshops focused on advancing diversity,
promoting inclusion and belonging, andcreating psychological safety.

Launched in 2021, our ongoing #FSVoices
campaign showcases and celebrates
employees’ diverse perspectives throughout
the year, including during calendar
milestones such as Black History Monthand International Women’s Day.

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PEOPLE / A DVA N CING D I V ER S IT Y, IN CLUS IO N A ND B ELO NG ING

ADVA NCING DIVERSIT Y,
INCLUSION A ND BELONGING

4 / ED UCATION A ND PROG R A MS

6 / BR A ND A ND PA R TNER S HIPS

Education is foundational to our approach,ensuring that employees have consistentlanguage and knowledge to discussand advance DIB. In 2021, we rolled out
unconscious bias training for the globalorganization, and released a DIB Discussions
Toolkit focused on unconscious bias to guide
employee sessions for all levels. We also
hosted eight DIB Speaker Series Sessions for
employees, where outside experts and Four
Seasons leaders discussed topical DIB issues.

We continue to reinforce DIB in our externalbrand marketing, including by profiling andgiving a platform to diverse voices andexperiences. Across Four Seasons global
brand social media channels, through our workwith influencers and content creators, as wellas through brand marketing, including Four
Seasons Magazine, we continue to advanceauthentic DIB storytelling in a manner thatcelebrates the diversity of our global guests,
residents, and employees.

5 / SYSTEMS A ND POLICIES

7 / ME ASUR EMENT

In 2021 we reviewed and updated the languageof our Company policies to ensure they are freefrom bias and built to value difference.

We use our employee pulse survey tomeasure employee sentiment on inclusion
and belonging. In 2021, our sentiment scoresin these areas were in the 80s out of 100,on a par with the top 10% of companies
across all industries.

IM AG E: Four Seasons Hotel Seattle

33

OUR PEOPLE FOCUS ARE AS:

1Advancing
Diversity,
Inclusion andBelonging2

Creating
life-changing
opportunities

3

Giving backlocally34

PEOPLE / CR E ATING LIFE- CH A NG ING OPPOR TU NITIESSUPPORTINGOUR EMPLOYEESTR A NSFORMING
FUTURESOUR ESG PROGR AM
IN ACTION
FOU R S E ASO N S HOTEL WESTL A K E V ILL AG E

Employees are our most valuable asset, andtheir success and wellbeing is our top priority.
Four Seasons is committed to taking care of all
employees so they can thrive in their careersand in their lives. Through our world-renowned
work in culture and employee experience, we
aim to elevate our communities by first andforemost, ensuring our portfolio’s employees
are safe, healthy, and secure. We create careerand growth opportunities that provide accessto fulfilling work and allow our team members
to reach their potential. Additionally, ourprograms, benefits, compensation approach,and policies aim to ensure our portfolio’s
employees and their families can thrive,
elevating the overall quality of life in ourcommunities around the world.

We are committed to creating life-changing
careers for people around the world, helping
our teams reach their full potential at alllevels of our Company. We are particularly
focused on providing access to educationand jobs in hospitality for underprivileged andunderrepresented groups, and developing thistalent to support their future careers.

We are implementing structured apprenticeshipprograms, unique educational offerings,
and accelerated advancement pathways tosupport careers in our properties. Throughthese efforts, we seek to increase financial
stability and support upward mobility for
those in underprivileged situations, elevating
the communities in which we operate.

In 2019 we established a USD $1M
empowerment fund at the School of Hotel
Administration at Cornell SC Johnson
College of Business, providing support tounderrepresented minority and first-generation
students. We also have a 20-year partnershipwith the National Society of Minorities in
Hospitality, where we provide annual funding
for scholarships.

In addition to our direct employment efforts,
our properties and corporate offices aroundthe world are encouraged to partner withlocal suppliers and vendors, using our
economic engine to help drive change
across our communities.

Since 2017, Four Seasons Hotel Westlake
Village, California has partnered with
Project SEARCH to provide internships toyoung adults with intellectual and/or otherdevelopment disabilities. To date, the hotelhas hosted 16 interns, who each complete
a one-year program rotating through hotel
departments, gaining transferable job skills
and confidence in working with colleagues,
supervisors, and guests.

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PEOPLE / CR E ATING LIFE- CH A NG ING OPPOR TU NITIESOUR ESG PROGR AM IN ACTIONRESPECTINGHUMA N RIGHTS

Four Seasons endeavours to demonstrateglobal leadership in responsible workplace
practices, and we are committed to respecting
human rights in every one of the markets inwhich we operate. Our approach to humanrights is codified in our Human Rights Policy
and Supplier Code of Conduct. Our approachis informed by the principles contained in
the Universal Declaration of Human Rights,
the International Labour Organisation (ILO)
Standards, the UN Guiding Principles on
Business and Human Rights, the UN Global
Compact, and the Guidelines for Multinational
Enterprises of the Organisation for Economic
Cooperation and Development (OECD).

We are committed
to respecting humanrights in every one of
the markets in which
we operate.

FOU R S E ASO N S HOTEL D OH A

FOU R S E ASO N S SA FA R I LOD G E S ER E NG E TI

Four Seasons Hotel Doha is focusedon eradicating modern slavery from its supply
chain. A due diligence questionnaire must
be completed by all recruitment agencies.
The questionnaire contains over 60 questions
on topics such as recruitment, working
conditions, worker accommodations, wages,
equality, and non-discrimination. In addition,
all agencies must sign the Four Seasons
Doha Mandatory Standards for Recruitment
Agencies, based on national legislation, theSustainable Hospitality Alliance Principles on
Forced Labour, and the ILO Fair Recruitment
principles and operational guidelines.

Hope for Girls and Women (Matumaini kwa
Wasichana na Wanawake in Swahili) provides
two safe houses to shelter and support
those fleeing female genital mutilation,
child marriage, and other forms of genderbased violence in Tanzania. Four Seasons
Safari Lodge Serengeti has supported theorganization for several years, including
assisting in the construction of a new kitchen
for the Serengeti safe house, and supplying
equipment and food for the 60 girls andwomen at the shelter.

We condemn all forms of forced, bonded
or compulsory labour, child exploitation, andsexual exploitation. We are proud signatories
to The Code of Conduct for the Protectionof Children from Sexual Exploitation in Travel
And Tourism. We are committed to preventing
human trafficking in all its forms across ouroperations, and all property employees globallyare required to complete anti-trafficking training
on an annual basis.

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OUR PEOPLE FOCUS ARE AS:

1Advancing
Diversity,
Inclusion andBelonging2

Creating
life-changing
opportunities

3

Giving backlocally37

PEOPLE / G I V ING BACK LOCA LLY

OUR ESG PROGR AM
IN ACTIONSUPPORTING
CA NCER RESE ARCH

FOUR S E ASO N S HOME OFFICE , TORO NTO

Cancer research is a philanthropic focus for
Four Seasons Founder and Chairman Isadore
Sharp and his wife Rosalie, who lost their son
Christopher to cancer in 1978. Today, Four
Seasons continues to honour Christopher Sharp’s
legacy by supporting cancer research aroundthe world, particularly through our Company’scommitment to the Terry Fox Foundation.
After being diagnosed with cancer at age 18,
Terry Fox inspired Canadians with his 1980
Marathon of Hope. Isadore Sharp personallypledged to Terry’s cause and wrote to 999 other
Canadian executives urging them to support
cancer research. The first Terry Fox Run in 1981
was organized by Mr. Sharp and Four Seasons,and today there are thousands of annual Terry
Fox Runs around the world, all volunteer-led
and organized.

To date, more than $680 million has been raised
worldwide for cancer research in Terry’s name,and many of our properties around the worldcontinue to organize Terry Fox Runs and support
other local cancer programs in honour of our
founder and his son.
Around the world, our properties support cancer
research in ways that are locally relevant, leading
to a global focus on this important cause, which
impacts so many individuals in all parts of the world.

Each year since 1981, employees of
the Four Seasons Home Office and theFour Seasons Hotel Toronto organize
the largest Terry Fox Run in the world,
welcoming 3,500 participants from theToronto community to a full day event
including a 5 or 10 Kilometer run, family
events, donated lunch, and entertainment.
Every dollar raised at the annual event goesto the Terry Fox Foundation.

More than $680 million has beenraised worldwide for cancer
research in Terry Fox’s name.

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PEOPLE / G I V ING BACK LOCA LLYSUPPORTING LOCALCHARITIES A ND CAUSESRESPONDING IN
TIMES OF DISASTEROUR ESG PROGR AM
IN ACTION
FOUR S E ASO N S HOTEL HOUSTO N

Our hotels, resorts, residences, and offices
around the world have a long history of
supporting our communities through monetary
donations, in-kind donations, and volunteerism.
Each location is committed to unique causes thatare relevant to their immediate local community.
To ensure that we are creating the most positive
impact around the world, we are focused on
establishing consistent processes and guidelines
for our teams to donate time and/or funds tomeaningful local charities and not-for-profits,
in alignment with our core ESG values.

 ach location is committedE
to unique causes that are
relevant to their immediate
local community.

We are committed to supporting ourcommunities and our portfolio’s employees
in times of disaster. We have established theFour Seasons Golden Rule Relief Fund as a way
to quickly deploy resources to employees whendisasters occur. Through the Fund, we provide
direct financial support to employees impacted
by disasters, and we enable employees aroundthe world to easily contribute to supporting teammembers in need.

In collaboration with The University of Texas
MD Anderson Children’s Cancer Hospital,
Four Seasons Hotel Houston hosts a freeannual program called Camp H-Town, wherechildren touched by cancer get to experiencean urban sleepaway camp. Campers enjoy
campfires, talent shows, games, and all of
the other joys of camp, under the supervisionof volunteers and medical professionals. In
2020 and 2021 Camp H-Town was held
virtually to ensure the safety of the campers
during the COVID-19 pandemic, and theCamp H-Town team will resume in personcamp in summer 2022.

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GOVERNANCE

40

OUR OWNERSHIP STRUCTURE

In January 2022, the Company’s
longstanding shareholder, an affiliate of
Cascade Investment, L.L.C. (Cascade),closed on its acquisition of a majority
stake in Four Seasons from its long-term
investment partner, an affiliate of Kingdom
Holding Company (KHC). KHC retains a
23.75% stake in Four Seasons and Four
Seasons Founder and Chairman Isadore
Sharp, through Triples Holdings Limited,
retains his 5% stake in the company
he founded in 1960.
IM AG E: Four Seasons Resort and Residences Whistler

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GOV ER N A N CE

ESG OVERSIGHTOur ESG programs are overseen by our Board’s ESG
Committee, which meets at least quarterly to review ESG
progress and provide strategic guidance. In addition to our Board
Committee, our robust ESG governance structure includes:∙  ESG Steering Committee
comprised of our CEO and membersof our Executive Leadership Team,
meeting every six weeks to oversee
our ESG strategy and ensurealignment with overall corporate
strategy and operational needs.
∙ ESG Core Team of departmental
leadership responsible fordeveloping our ESG strategy
and guiding programs.
∙ ESG Working Groups forEnvironmental Impact, Social
Impact, and DIB, comprisedof leaders responsible for
implementing our programs
across our global operations.

Across all levels of the business,leaders collaborate and are actively
committed to the success of our
ESG program. On an annual basis,leadership establishes robust ESG
objectives as part of the Four SeasonsGlobal Operations Leadership Team(GOLT) annual goal setting process.
These goals are translated into
property-level ESG goals and KPIs.
Progress against both the property
and corporate-level goals is reviewed
by Four Seasons leadership ona quarterly basis.

ESG BOA R DCOMMIT TEE

ESG STEER ING
COMMIT TEEESG COR E TE A M

EN VIRONMENTA L
WOR K ING
G ROUP

SOCIA LWOR K ING
G ROUP

DIVER SIT Y,
INCLUS ION &BELONG ING
WOR K ING
G ROUP42

GOV ER N A N CE

OUR
ESG TE AM

POLICIES A ND
E XPECTATIONSE VALUATING AND
MANAGING ESG RISKS

In 2021, we hired a dedicated ESG team,comprised of a Vice President, ESG andManager, ESG, to work in partnership with ourfunctional leaders. Our ESG team has deep
ESG experience and is focused on developing
and implementing our ESG strategies andestablishing ambitious, long-term goals to
guide our Company’s progress. The teamreports to our Senior Vice President, Corporate
Development, who reports directly to our CEO.
The addition of ESG subject matter experts
during a still-challenging financial period
demonstrates our recognition of the valuethat ESG will drive for our Company and theintegration of ESG into our long-term businessstrategy. In 2022, we plan to continue to expand
our ESG team to further support implementationof our programs across our global portfolio.

In 2021, we updated our existing Human Rights
Policy and Supplier Code of Conduct to alignmore closely with internationally recognized
standards and best practices. We also createda new Environmental Policy to govern ourenvironmental management across our global
operations. These policies, along with our
Employee Code of Business Conduct andEthics, establish our expectations that ouremployees, business partners, and suppliers
will adhere to the highest standards of conduct
across our environmental and social efforts.

In 2021, we mapped our existing properties
and properties under development against aseries of 30 ESG risk indicators, including thoserelated to climate change, human rights, water
stress, natural disasters, waste management, andbiodiversity. We will use the results of this analysis
to define how we prioritize our environmental andsocial efforts, including the deployment of tools
and processes. We also evaluate enterpriselevel environmental and human rights risks in ourquarterly Enterprise Risk Management (ERM)
assessment, which is overseen by our Risk
and Internal Audit department.

IM AG E: Four Seasons Hotel Bogotá

In 2020, the Four Seasons Sourcing andProcurement team undertook a supply chain due
diligence assessment to evaluate ESG risks forour corporate suppliers. Suppliers’ responses
to our ESG questionnaire were evaluated using
a comprehensive ESG decision matrix, with afollow up for suppliers found to be in the higher
risk categories. Starting in 2022, all corporate
Sourcing and Procurement contracted suppliers
will be required to acknowledge adherence to
the Company’s Supplier Code of Conduct tobe eligible to participate in RFPs. The Supplier
Code of Conduct will also be attached to all new
contracts issued by Sourcing and Procurement.
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FOUR SE ASONS FOR THE FUTURE

44

FOUR SE ASONS FOR THE FUTURE

Our 2021 ESG Summary Report is designed to provide an overview of
our ESG accomplishments to date. While supporting our communities
and protecting the environment has long been a focus for our businessand our individual properties, in 2020 and 2021 we took significant steps
to build the foundations of our comprehensive global ESG program.
ESG leadership is a journey and as we look to the future, we arecommitted to achieving the following in 2022:∙  Setting ambitious, long-term
environmental and social impact
goals in alignment with the UN’s
Sustainable Development Goals∙ Removing single-use plastics fromthe guest experience∙ Enacting comprehensive andconsistent guidelines aroundcommunity support, philanthropy,
and guest engagement∙  Enhancing the transparencyof our reporting∙  Engaging with our stakeholders
around around our ESG efforts
Through these efforts, and many
more initiatives underway, we will
ensure that Four Seasons continues
to leave a positive imprint for
the future, for both people
and the planet.

∙ Continuing to develop tools andresources to help our properties
implement ESG initiatives
IM AG E: Four Seasons Resort Los Cabos at Costa Palmas™

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