2022 ESG Report

12-MONTH PERIOD ENDING DECEMBER 31, 2022
PUBLICATION DATE: JULY 2023

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

2

Table of Contents

3

MESSAGE FROMOUR CEO ANDCHAIR OF THE
BOARD

6

ABOUT ADI

29 OUR SOLUTIONS

51 ADI HORIZON

79

OUR COMMUNITYIAPPENDICES

7

Who We Are

30

52

Risk Management

80

II

15

Our Approach toGovernance andOversight

55

Business Ethics

Our Purpose, Culture andPriorities

58

Human Rights

87

TalentReconciliation of
GAAP Measures to
Non-GAAP Measures

V

SASB

68

Environmental
Sustainability

Analog Devices
Foundation Connects
to Communities

TCFD

Public Policy

94

IV

66

VII

GRI Index

23

ADI’s ESG ProductImpact30

2022 ESG Results

The Transformative
Role of
Semiconductors

31

Automation

36

Electrification

41

Connectivity

69 Progress on
Environmental Goals

45

Human Health70

Climate and Energy

73 Water
75

Waste

76

Biodiversity

77

Sustainable
FinancingThis report has been prepared in consideration of all readers and is compatible with assistive technology.

94 Our OutreachANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

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Message from Our CEO
and Chair of the Board
Since our founding 58 years ago, ADI has
been driven by a deep sense of purpose
and a desire for the impact of our work
and innovations to reverberate across all
stakeholders – employees, customers,
partners, communities, and investors.
Providing inspiring and rewarding workfor our employees, partnering with ourcustomers and suppliers for mutual
business success, and focusing on both
our investors and the communities inwhich we operate has enabled us to deliver
tremendous impact at the human, societal,
and planetary scales for nearly sixty years.
ADI’s long-term strategy lays out the path by which
we will accelerate technology breakthroughs at theIntelligent Edge and deliver sustainable, profitable
growth that will expand and extend our impact for
decades to come. Within this framework, ESG is morethan an initiative. It is a natural outcome of our longterm focus and a guiding principle informing every
element of our organization and operation.
We have established aggressive ESG goals for ourselves
and our value chain to ensure progress toward the highstandards we espouse.

Within our manufacturing operations, we areengineering and implementing more efficient tooling,
abatement systems, and water reclamation practices
to recycle and reduce the overall amount of water wewithdraw. Today, 25% of our water is recycled. We arealso making substantial progress on reducing waste in
our manufacturing operations, and today, 90% of ourwaste is diverted from landfills.
We are on track to achieve our goal of 100% renewableenergy use by the end of 2025 and have reduced our
Scope 1 and 2 emissions by 7.2% compared to our 2019baseline. When you consider our substantial growthover the same period, however, our Scope 1 and 2
greenhouse gas (GHG) emissions intensity has dropped
by an impressive 37%. In addition, we have begun
sharing our Scope 3 upstream emissions in this year’s
report as part of our Net Zero commitment.
On the social side, we are deeply committed to ouremployees’ well-being and ensuring proper treatmentof those working in our value chain. In practice, thatmeans providing a work environment at ADI where
diversity, belonging, and integrity are valued and where
our employees can achieve their highest professional
and personal aspirations. In 2022, 25% of our people
managers globally were female. In the US, 7% of ouremployees identified as Black, Hispanic, or Latinx.
While we are pleased with the progress we have madein these areas, there is still much to do, and we will not
rest until we achieve our full goals.

“ADI’s long-term strategy lays
out the path by which wewill accelerate technology
breakthroughs at the Intelligent
Edge and deliver sustainable,
profitable growth that will
expand and extend our impact
for decades to come.”

ANALOG DEVICES 2022 ESG REPORT

We believe our responsibility extends beyond ourfour walls to our entire value chain of production. As
such, human rights and fair work practices are nonnegotiable, and we will continue to engage with our
suppliers to ensure those protections are upheld
regardless of where work is done.
Regarding governance, the principles of integrity,transparency, and credibility are core values at ADI
and woven through our decisions and actions. ADI’s
long-term commitment to these principles is opening
doors for us with customers who seek to work withcompanies that share their values and higher ambitions.
In fact, ESG is becoming a business opportunity for ADI
as much as a matter of being a responsible global citizen.
We are targeting our innovation system and leveraging
the combinatorial power of sensing/actuating,computing, and connectivity at the Intelligent Edge toimprove the well-being of humanity and the world.
For example, approximately 40% of total global
energy use is consumed by the Industrial sector1, withroughly 70% of industrial electricity consumption
coming from electric motors alone2. ADI’s products
help optimize the performance of those motors tosignificantly reduce their energy usage. Within the
Energy market, our solutions enable the productive
and efficient capture and conversion of renewableenergy sources such as solar and wind, which are
now less expensive options than coal and natural gas
in many markets3. In Healthcare, our products areadvancing human health by expanding care access andimproving patient outcomes through more effective
and efficient home-based, remote patient monitoring

ABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

4“...the urgency of the challenges we face means we are never satisfied.
Our world is beset with numerous challenges – from the slow postpandemic recovery, to climate threats, to geo-political friction – but weremain thoroughly committed and optimistic about the positive impact
our technologies can have for the health of humanity and the planet.”of acute and chronic diseases like Congestive Heart
Failure (CHF) and COPD, and sub-acute conditions
ranging from post-surgical care to management ofchronic diseases like diabetes. Within the Automotive
market, our advances in battery management systems(BMS) are delivering faster and more precise charging
for greater EV range and battery pack lifetimes,
enabling significant CO2 reductions, and facilitating there-purposing of batteries for second-life applications
like EV chargers and home energy storage after theircontinued use in vehicles is no longer viable.
Finally, I would like to highlight the progress of ourFoundation and the incredible work of our employees,
who care passionately about these issues and give of
their own time, energy, and resources to improve theworld. Their engagements are too numerous to recountin this letter, but our employees around the world are
teaming up to collect and donate food and volunteer
at food banks, clean public parks and plant trees, andmentor students in STEM programs. More than 700 of
our employees are part of ADI’s Green Team Network,
an initiative focused on advocating for sustainability
and taking action to deliver environmental impact
within ADI and the communities in which we operate.

1

IEA (2022), Industry, IEA, Paris.

2

IEA (2019), World Energy Outlook 2019, IEA, Paris.

3

IRENA (2022), Renewable Power Generation Costs in 2021, International Renewable Energy Agency, Abu Dhabi.

Many of these activities are funded in part by the
Analog Devices Foundation, which in 2022 supported
more than 900 community organizations focusedon protecting the environment, improving access to
education, and solving community problems frompoverty, to hunger, to general health and well-being.
In closing, while we are pleased with our own ESG
accomplishments and how our efforts are helping ourcustomers and partners meet their own ESG goals,
the urgency of the issues we face means we arenever satisfied. Our world is beset with numerous
challenges – from the slow post-pandemic recovery,
to climate threats, to geo-political friction – but weremain thoroughly committed and optimistic about
the positive impact our technologies can have for thehealth of humanity and the planet. ADI’s incredibly
talented, passionate, and dedicated workforce, charged
with – and charged by – tackling the world’s greatest
challenges in partnership with our customers andpartners, and the confidence that there is no obstacle
we can’t overcome together. We truly believe ADI’s,
humanity’s, and the planet’s best days are yet to come.

Vincent Roche
CEO and ChairANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Introducing ADI Horizon
Analog Devices, Inc. (ADI) has long held the belief that we can – and should be – a force for positive change in the world.
This belief is woven throughout all we do, and is at the heart of ADI’s Purpose Statement. ADI’s ESG programs areillustrative of our commitment to people, planet, and progress and are deeply embedded in our Company’s strategy andoperations. We believe our solutions are, and will continue to be, at the forefront of driving positive change, whether
helping to address climate change or connect humanity or drive better health access and outcomes.
To catalyze these opportunities, and to continue to make progress within our own operations and programs, ADI’s central
ESG team was moved to the Strategy Organization at the end of 2022. From here, they will continue to coordinate across thecompany, working with subject matter experts in all areas to enable the progress that differentiates ADI.
We are also pleased to introduce ADI Horizon, our unified approach to our
ESG programs. Inspired by how a horizon represents an orienting point on ourimmense and beautiful spinning planet, as well as a point in the future, the launchof ADI Horizon is an expression of our unwavering commitment to integrity,
diversity, transparency, and mitigating – and perhaps reversing – the impacts ofclimate change. We look forward to sharing more about our ADI Horizon programand progress.

ADI’s Purpose Statement:
Accelerate humanbreakthroughs that enrich
lives and the world.

5

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About ADIADI empowers the Intelligent
Edge with the world’s mostinnovative analog, digital, andsoftware solutions, to accelerate
breakthroughs that benefit society
and the planet.

IN THIS SECTION:
7

Who We Are

15

Our Approach to Governanceand Oversight23

2022 ESG Results

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Who We Are
ADI empowers the Intelligent Edge withthe world’s most innovative analog, digital,and software solutions, to accelerate
breakthroughs that benefit society and theplanet.

Our Mission
The most exciting development in technology today
is the dawning of the Intelligent Edge era. Pervasive
sensing and AI-driven edge computing is bringing
computation and data storage closer to data sourcesin real time, providing intelligent insights faster andsaving bandwidth. This ubiquitous connectivity iscoming in smart, connected systems that enable newcapabilities, applications, and markets. ADI is at thecenter of this new era, supplying the intelligent sensing
and connectivity on which it depends. Leveraging ourstrong position at the boundary between the physicaland digital worlds, innovation capabilities, and domain
expertise, ADI is working closely with customers tobring intelligence to the edge.

Transforming Digital Healthcare
for better access and outcomes

Combating climate change
through electrification,energy management andindustrial automation

Unlocking human potential bysafely automating factories
and transportation

Connecting humanity to foster
knowledge, understanding,and community

7

ABOUT ADIANALOG DEVICES 2022 ESG REPORTOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

8

Objectives
2022 OBJECTIVES
CLIMATE AND
ENERGY

CarbonNeutrality
50% reduction of Scope 1 and
2 GHG emissions by 2030

DIVERSITY, EQUITY,
AND INCLUSION

WASTE• Continue integration of Maxim• Evaluate need for a materiality assessment in linewith our ERM program• Create roadmap for ADI sustainability program,targets

100%• Continue a key focus on employee health andwellness

Waste diverted
from landfill at ADI
manufacturing facilities
by 2030• Develop a plan for ISO 14001 and 45001 certification
for all manufacturing sites• Review sustainability plan with SBTi for new footprint• Deepen customer intimacy through ESG outreach

100%

Renewable energy at ADI’s
manufacturing facilities
by 2025

By end of FY2026• Enhance ethics training, resources, and awareness

Increase global female manager
population from2023 OBJECTIVES

23%

in 2021 to

Net Zero

WATER

By 2050

in 2021 toWater recycling rate in
manufacturing facilities
by 20252027 GOAL

50%

Increase global female
engineering (exempt) population
from

17%

50%

NEW

29%
26%

Increase our combined Black,
Hispanic, and Latinx employee
population in the U.S. from6%

in 2021 to

9%Reduction in water
withdrawal normalized to
production output**

Water withdrawal is normalized to fab production output. A description of the metric and how it is calculated is noted here.

• Launch a double materiality assessment in line with
our ERM program• Disclose enhanced KPIs for our suite of ESG programsin line with our commitment to transparency• Achieve ISO 14001 and 45001 certification for all
manufacturing sites• Reengage with SBTi on our sustainability roadmap for
new footprint• Deepen customer intimacy through ESG outreach• Enhance our supplier engagement program andscorecard process, including ethics, safety, andsustainability indicators• Engage with industry and values-based organizations
to accelerate our impact• Maintain signatory status with the UN Global Compact• Continue our commitment to transparency, including
disclosing our EEO-1, to CDP Climate, and aligning to
the key ESG frameworks• Evaluate and prepare for new ESG regulatory
requirements

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

United Nations Sustainable Development Goals
How Our Strategy and Sustainability Priorities
Align with the United Nations Sustainable
Development Goals
The United Nations Sustainable Development Goals(SDGs) represent a global agenda to address the mostpressing challenges facing our world, including climate
action, access to healthcare, and reducing inequities
throughout the world. We recognize the importanceand urgency of this global initiative and how ADI plays acritical role in infrastructure, advancing quality of life,and furthering global development sustainably.
ADI has been a signatory to the UN Global Compact
since 2020, and we see close alignment between these
SDGs and our strategy and sustainability priorities:

GOOD HEALTH
AND WELL-BEING

INDUSTRY, INNOVATION
AND INFRASTRUCTURE• Our technologies impact thehealth and well-being of individuals
through vital signs monitoring,
medical imaging, medical
instrumentation, and disease
management and wellness.

• Our technologies impact the
adoption and expansion ofIndustry 4.0, including factory
automation, safety, and efficiency.

AFFORDABLE AND
CLEAN ENERGYSUSTAINABLE CITIESAND COMMUNITIES• We deploy programs to improveenergy efficiency and have set
ambitious targets related toachieving 100% renewable energy
in all manufacturing sites by 2025.

• Transportation and smart
buildings are two major levers inmaking cities and communities
inclusive, safe, resilient, andsustainable. Our technologies
impact how we travel, enabling theelectrification of vehicles and themodernization of the electricity
grid that powers how we plugin. ADI technologies also impact
how we work, enabling intelligent
building management systems.

• Our technologies enableadvancements across a broad range
of applications, including electricvehicles, energy storage systems,
data centers, 5G networks, andindustrial automation.

DECENT WORK AND ECONOMICGROWTH• We are committed to promoting
safe work environments for
all workers.
• ADI is committed to the humanrights of all workers and to ensuringthat its employees are treated withrespect and dignity and work withinhumane working conditions.

CLIMATE ACTION• ADI strives to build sustainability
into all our actions. We arecommitted to reducing ourenvironmental impact throughfocus on three areas: climate
and energy (including leveraging
science-based targets to achieve
net zero emissions by 2050),
water, and waste.

9

ABOUT ADIANALOG DEVICES 2022 ESG REPORTOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES10

ADI End Markets
FISCAL YEAR 2022
PERFORMANCE HIGHLIGHTSINDUSTRIAL

CONSUMER

Factory Automation

Digital Healthcare

Prosumer

Sustainable Energy

Aerospace andHearable and Wearable Devices

Instrumentation and Test

Defense

$12B

~87%

Revenue

Business-toBusiness Revenue

73.6%

62.7%

Adjusted Gross
Margins*

Gross Margins

49.4%

27.3%

Adjusted Operating
Margins*

Operating Margins

$9.57

$5.25

Adjusted Diluted
Earnings per Share*

Diluted Earnings per Share

Electrification

$4.5B

$3.8B

In-Cabin Experience

Operating Cash Flow

Free Cash Flow*

High End Portable Electronics

13%
COMMUNICATIONS
Wireless
Cloud Infrastructure/
Wireline

16%

50%
21%

AUTOMOTIVE

Autonomous Mobility* See Appendix for additional information regarding non-GAAP financial
measures and reconciliations of non-GAAP financial measures to theirmost directly comparable GAAP financial measures.
The sum of the individual percentages may not equal 100% due torounding.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

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Our Global FootprintADI’S EXTENSIVE HYBRID MANUFACTURING AND SUPPLY CHAIN NETWORKINTERNAL MANUFACTURING MIX
Front-end: ~50%
Back-end Testing: ~80%
Back-end Assembly: 20%

Limerick, Ireland
Wafer FabCamas, WA

Chelmsford, MA

Wafer FabAssembly & Test

Beaverton, OR

Wilmington, MA

Wafer Fab

Cavite, Philippines

Wafer Fab

2 Test Sites
1 Assembly

Chonburi, Thailand
Test

ADI Internal Sites
Penang, Malaysia

Foundries

Probe Assembly
Final Test

External Assembly and Test

Company Snapshot
ADI at a Glance
FOUNDEDHEADQUARTERSEMPLOYEESOFFICE LOCATIONS

1965
Wilmington, MA~24,450
31 countries

worldwide sales, field applications, product development, design,service, and technical support

DESIGN CENTERS~75,000 SKUs
125,000+
ADI~80

GLOBAL MANUFACTURING

United States | Ireland | Philippines | Malaysia | Thailand

PRODUCTSCUSTOMERSPUBLICLY LISTED (NASDAQ)

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

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Our Growth and Opportunities
Our customer-centric manufacturing organizationdelivers world-class, quality products, and through close
partnerships, we help our customers solve their mostchallenging technology problems. ADI’s resilient hybrid
manufacturing strategy is based on a strong network ofwafer fabrication plants, foundries, and assembly and test
factories that are owned by ADI or our trusted partners.
This manufacturing network helps to insulate ADI fromexternal factors while providing the means to increase
output and scale rapidly to meet customer needs.
With resilient hybrid manufacturing, ADI runs both ourlegacy and new process technologies in both our internaland partner fabrication plants. Our ability
to quickly cross-qualify technologies in factories acrossour supply chain allows us to flex customer demand overmultiple locations, delivering a broad array of technology
and packaging necessary to create innovative solutions
from 7 nanometers to 7 microns. This will enable ADI toflex amongst factories to meet customer demand. The
critical pieces to a resilient hybrid manufacturing modelare our trusted partners with whom we share technology
and our ability to utilize our trusted partners establishedinfrastructure. This results in quick time to production
for our customers to meet their business goals. ADI’s
resilient hybrid manufacturing model enables us todeliver for our customers and provide shareholder value.

Front-End Operations
We are expanding ADI’s fabrication plant capacity,internally and externally, with internal investments to
support double the wafer production output in the U.S.
and Europe by the end of 2025. In Beaverton, Oregon,
we are increasing our cleanroom by 25,000 square
feet to double capacity and support more products.
In Limerick, Ireland, we are expanding our footprintby 15,000 square feet to triple capacity. In Camas,
Washington, we are investing to double our capacity.
Even in light of doubling our internal manufacturing
production, Analog Devices is committed to reaching
our climate, water, and waste reduction goals. We’remodernizing our factories with new, state of the art
fabrication tools that will increase efficiencies and use
chemistries that are more environmentally friendly.

Back-End Operations
ADI does most test operations in our own factories in
the Philippines, Malaysia, and Thailand, and outsources
assembly to trusted partners. To add resilience to our large
operations in the Philippines, we are expanding our test
facilities in Malaysia and Thailand as well as implementing
a multi-year campus expansion in the Philippines to add
office space for an expected additional 2,000 employees
and engineering capabilities. Additionally, we are crossqualifying our test processes with external partners toensure dual sourcing where needed.

ABOUT ADIANALOG DEVICES 2022 ESG REPORTOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

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FY22 Workforce Data Snapshot
EMPLOYEES BY GEOGRAPHY
RACE AND ETHNICITY**

U.S. Employees

28.4%
North America

11.0%

60.6%

EMEA

APAC

American Indian or
Alaska Native

0.27%

Asian

33.80%

Black or African American

2.05%

Hispanic or Latinx

4.95%

Native Hawaiian or Other
Pacific Islander

0.28%

Two or More Races

1.50%

White

54.88%

Unknown

2.27%

U.S. New Hires
American Indian or
Alaska Native

0. 41%

Asian

28.07%

Black or African American

4. 16%

Hispanic or Latinx

9.62%

Native Hawaiian or Other
Pacific Islander

0.28%

GLOBAL LEADERSHIP BY GENDERHIRING BY GENDERTECHNICAL ROLE BY GENDER

Senior LeadershipManager

Global*GlobalGENDER%GENDER%GENDER%GENDERHIRES

Two or More Races

4. 79%

Female16.1%

Female25%

Female41.9%

Female20%White49.52%

Male

83.9%

Male

75%

Male

56.9%

Male

80%

Unknown

3. 15%* Only inclusive of those who made a selection.

** U.S. data only. Based on EEO-1 data filledwith the Department of Labor and voluntary
self reporting.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZON

Awards and Recognitions
CarbonClean 200™

JUST Capital’s 2023
JUST 100 List

Rankings are given tocompanies representing theclean energy future and are
based on the percentage ofrevenue companies earn fromclean economy themes.

ADI is part of the JUST 100 list
created by the nonprofit JUST
Capital which ranks America’s
publicly traded companies
on issues that define “just”
business behavior.

Forbes’ 2022
World’s Top Female
Friendly Companies
Named by Forbes among its
list of companies excelling inchampioning women at work.

Investor Business
Daily 100 Best ESG
Companies of 2022
Public companies areevaluated based on Dow
Jones sustainability scoresand Investor Business Daily
technical and fundamental
stock ratings.

Newsweek America’s
Most Responsible
Companies 2023
This list recognizes top
performing companies
that have demonstrated
commitments and actions
for their corporate social
responsibility efforts.

50/50
Women onBoards—3+ Women on
Company Boards 2022

ADI among the companies
highlighted for performing
best on key disclosure
and performance metrics
that address racial equity,advancement opportunities,
and mobility.

ADI is recognized for having
three or more women serving
on its board. 50/50 Women on
Boards is a leading advocacy
organization driving toward
gender balance and diversity on
boards.

ADI ranked on this list ofcompanies that celebrate
workforce diversity andimplement policies that
advance an inclusive workplace.

APPENDICESMembership Organizations

JUST
Capital’s2022 Workforce
Equity and Mobility Ranking

Newsweek’s America’s
Greatest Workplacesfor Diversity 2023

OUR COMMUNITY

Wall Street Journal’s
250 Best-Managed
Companies of 2022
Recognizes companies basedon corporate effectivenessin five areas: customer
satisfaction, employee
engagement and development,
innovation, social responsibility,and financial strength.

ADI goals approved by SBTI in 2021.

SPOTLIGHT
WORLD ECONOMIC FORUM ALLIANCE OF CEO
CLIMATE LEADERS

In late 2022, ADI’s CEO and Chairman of theBoard Vincent Roche, became a member of theWorld Economic Forum’s Alliance of CEO Climate
Leaders. ADI is the first semiconductor company
to join the Alliance, a global community of morethan 120 CEOs and Senior Executives fromlarge multinational organizations committed toaccelerating the pace of climate change action
across their value chains.
To learn more about the Alliance, visit here:
Alliance of CEO Climate Leaders (weforum.org)

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ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Our Approach to Governance and OversightGovernance Highlights
ADI’s Board of Directors is responsible for broad
corporate policy and overall performance of ADI
through oversight of management.
Among other duties, the Board appoints ADI’s CEO andother executive officers, assigns to them responsibility
for the management of ADI’s operations and reviews
their performance. We have long believed that good
corporate governance is important to ensuring that ADI ismanaged for the long-term benefit of our stakeholders. We
periodically review our corporate governance policies andpractices and compare them to those suggested by various
authorities in corporate governance and the practices ofother public companies. As a result, we have adopted thefollowing policies and procedures that we believe are in thebest interests of ADI and our stakeholders:
For additional information on our approach to
governance practices, see our 2023 Proxy Statement.

Governance highlights include:
EFFECTIVE BOARD LEADERSHIP, INDEPENDENTOVERSIGHT AND STRONG CORPORATE GOVERNANCE

SHAREHOLDER RIGHTS AND ACCOUNTABILITY

Annual Election

Majority of directors are

Independent
7

YEARS

of directors of a declassified board

Majority Voting

Average tenure of independent
directors is approximately

7 years

for directors in uncontested
director elections

Corporate Governance Guidelines
establish a common set of expectations
to assist Board in performing its duties

No dual class of stock orcontrolling shareholder

GOVERNANCE POLICIESAND REPORTS
Company Bylaws
Corporate Governance Guidelines

Proxy access

Active Board refreshment practices,focused on broadening the range ofexperience, skills, and diversity

Bylaw

Code of Business Conduct and Ethics
Additional Governance Documents areavailable on the Corporate Governancesection of our Investor Relations website
found here.

Regular executive sessionsof independent directors

Annual Board and Committee

A B

Self-Evaluations

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ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Board Structure

Board Profile

The Board of Directors reviews our overall performance. Its
primary responsibility is to oversee the management of ADI
and, in doing so, serve the best interests of ADI and its
shareholders. The Board of Directors provides for the
succession of the CEO, nominates for election at annual
shareholder meetings individuals to serve as directors of
ADI, and elects individuals to fill any vacancies on the Boardof Directors. Our Board of Directors reviews corporate
objectives and strategies and evaluates and approves
significant policies and proposed major commitments ofcorporate resources. It oversees ADI’s risk management
programs and participates in decisions that have a potential
major economic impact on ADI. Management keeps the
directors informed through regular written reports andpresentations at Board of Director and committee meetings.

ADI’s directors contribute significant experience in the areas most relevant to overseeing our businessand strategy. The below matrix provides a high level summary of the experience and qualifications of ourdirectors:

Board Composition
Our Board of Directors and Nominating and Corporate
Governance Committee are committed to ensuring that our
Board of Directors is comprised of a highly capable group of
directors who collectively span a broad range of leadershipskills and provide a significant breadth of experience,
knowledge, and abilities, relevant to ADI’s strategic vision,
long-term objectives, and business activities to effectively
represent the interest of shareholders, drive shareholder value,
exercise sound judgment, and reflect our corporate values ofintegrity, honesty, and adherence to high ethical standards.

54%

99%

of directors addedin the last 5 years

overall attendance ofincumbent directors at
Board of Directors andCommittee meetingsin fiscal year 2022

9 of 1139

directors are
independent

Board of Directors andCommittee meetings
held in fiscal year 2022

Executive Leadership:
Experienced leadership of complex global businesses

6/11

Industry:
Insight into key issues affecting ADI

9/11

Innovation and Emerging Technologies:
Expertise and thought leadership relating to technologicalinnovation in our industry and our end markets

9/11

Corporate Governance/Public Company Board:
Knowledge of public company governance issues and policies
to enhance Board practices

7/11

Financial, Accounting, Auditing:Oversight of ADI’s audit function and preparation of financial
statements and capital market expertise

3/11

International, Large Scale Global Operations, Manufacturing:
Insight into the many factors involved in overseeing managementof ADI’s global footprint

9/11

Government Affairs, Public Policy:
Expertise handling government affairs and public policy matters

3/11

Strategy:Oversight of management’s development and implementationof strategic priorities

10/11

Risk Management, Regulatory, Compliance:
Oversight of risks facing ADI and a comprehensive approach torisk management

2/11

Cybersecurity, Information Systems:
Oversight of our efforts to maintain our customers’ trust andprotect the security of their data

4/11

Mergers and Acquisitions:
Experience evaluating strategic transactions

4/11

ESG (Including Sustainability, Human Capital, and Diversity):
Knowledge of ESG topics impacting ADI

3/11

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ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Strong Board Diversity
Our Board of Directors also believes that having directors with a mix of tenure helps transition the institutional knowledge of the more experienced directors while providing abroad, fresh set of perspectives. Our Board of Directors has continued to make progress in broadening the experience, gender, and tenure of our directors.

AGE*

INDEPENDENT DIRECTOR TENURE

DIVERSITY

36%

27%

22%

66%

70+ years

51 to
60 years

11+ years

0 to
5 years

Average Age:

68 years

Average
Independent
Director Tenure:

11%
36%

31%

Directors
are female

7.3 years

6 to
10 years

23%

Directors are
ethnically diverse

61 to
70 years* The sum of the individual percentages may not equal 100% due to rounding.

Board Refreshment
Our Board of Directors has been focused on refreshment, regularly bringing in new viewpoints and skills. As a result of ongoing Board refreshment, we have added six new
directors between 2017 and 2022:

2018

2019

2019

2020

2021

2022

Karen M. Golz

Anantha P.
Chandrakasan

Susie Wee

Laurie H. Glimcher

Mercedes Johnson

André Andonian17

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

18

Risk Oversight
The following table summarizes management’s and the Board of Directors’ role in risk management and oversight. Each committee of our Board of Directors assesses risks
associated with their respective areas of oversight as described under Board committees in the table below.

BOARD OF DIRECTORS• Receives regular reports from members of senior management on areas of material risk to ADI. Specifically, our Chief Risk Officer, who oversees internal enterprise risk
management programs and chairs our Enterprise Risk Management Committee, provides regular reports to our full Board of Directors regarding our management of allenterprise and operational risks and our enterprise risk management program, with periodic updates on focus areas, such as cybersecurity and emerging regulation.
• Receives regular updates from our Audit Committee, Compensation and Talent Committee, Corporate Development Committee, and Nominating and Corporate
Governance Committee, which provide our Board of Directors with thorough insight about how ADI manages risk.

AUDIT COMMITTEE• Has oversight responsibility with respect to ADI’s
risk assessment and risk management programs,
especially as they apply to ADI’s financial statement
integrity and reporting and internal controls.
• Receives regular reports from our Director of Internal
Audit on internal audit matters and from our Chief Risk
Officer on risk management matters.
• Receives quarterly reports from our Chief Information
Officer on information security and technology andfrom our head of compliance regarding data privacy
and protection.
• Evaluates capital allocation and structure, including
potential issuance of debt and equity securities, credit
agreements, other financial instruments, investment
policy, dividends, stock splits, and stock repurchases.

COMPENSATION AND
TALENT COMMITTEE• Oversees ADI’s executive
compensation programand non-executive
director compensation
practices.
• Oversees ADI’s policies,
strategies and programs
relating to human capitalmanagement.
• Oversees the evaluationand succession planningand development
programs forsenior executives.

NOMINATING ANDCORPORATE GOVERNANCE
COMMITTEE• Leads the Board of Directors
with respect to the adequacyof ADI’s governancestructure and process of
succession planning for our
Board of Directors.
• Oversees ADI’s ESG
programs, including
reviewing ADI’s sustainability
initiatives and goals as wellas our progress towardachieving those goals.

CORPORATE DEVELOPMENTCOMMITTEE• Evaluates strategic plans,transactions, and investments,
including mergers,
acquisitions, and divestitures.

LEADERSHIP TEAM AND MANAGEMENT• Our Executive Leadership Team and our CEO and Chair have ownership for risk management and risk governance and is managed by our Enterprise Risk Management
Committee, a management-led, cross-functional committee, which is chaired by our Chief Risk Officer.
• Our Enterprise Risk Management Committee works closely with our Leadership Team, including our CEO and Chair, to identify and mitigate identified risks.
• Our Chief Risk Officer, and other members of management, report to the Board of Directors (or the appropriate committee) regarding risk identification, management,
and mitigation strategies.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZON

Our Approach
At ADI, we have long held the belief that we can andshould be a force for positive change in the world. We
believe that our strategic growth over the past few
years gives us the opportunity to take an even stronger
leadership position in driving the changes that musttake place to create a better society and a healthierplanet. Environment, Social, and Governance (ESG)
principles are at the heart of everything we do, because
it’s the morally right thing to do and ESG is smart
business. The efforts we take across ADI to operatewith integrity, preserve the environment, slow down andremediate climate change, and inject greater diversity,
equity, and inclusion (DE&I), both within our leadershipand workforce, are key to our long-term growth andprofitability. We believe sustainability means delivering
holistic solutions that make a positive, demonstrable
impact on the world.
We think about our ESG efforts and impact holistically,
and inclusive of our own operations, the communities inwhich we live and operate, and our solutions that enrich
lives and the world. As a global, hybrid manufacturerof semiconductors, our commitment to reducing ourenvironmental footprint and operating with integrity in
our engagements is core to who we are. We believe that
our internal practices and efforts give us a foundationof credibility. These practices extend beyond our walls
to our value chain, including our suppliers, contractors,
distributors, customers, and the communities where
we live and operate.

OUR COMMUNITYAPPENDICES

19

ESG Program Oversight
Our greatest positive impact on the globe is throughour solutions. ADI’s products are helping to drive
sustainability efforts and the transition to a net zeroworld. They are improving human experience andoutcomes. They help support robust data privacy andsecurity controls. To learn more about the ways inwhich ADI’s technology solutions are improving lives
and the world please see Our Solutions.
Finally, excellence, credibility, and transparency areat the heart of our program and our culture. Fosteringrich conversations with our stakeholders—customers,
investors, regulators, talent, and communities—helps
make ADI better. This way of operating drives a cultureof inclusion, understanding, and discovery, and helps
identify issues early so we can solve them. Within our
ESG programs, our engagement with our stakeholders
provides an opportunity to discuss shared challenges
and identify best practices. This grounding in honesty
and transparency is foundational to who we are anddifferentiates us as a partner and solutions provider.

Our commitment to excellence, credibility, andtransparency is woven throughout this report.
We seek to share the realities of our programs,
progress, and challenges, and leverage ourInternal Audit team and a variety of external
stakeholders to review and verify the included
data and claims. Click here for more informationon our verification process.

The Nominating and Corporate Governance Committee
oversees ADI’s ESG policies, goals, and programs,
reviews our sustainability initiatives and goals, andevaluates our progress towards achieving thoseobjectives. The Nominating and Corporate GovernanceCommittee receives quarterly reports on our progressagainst stated targets, as well as updates on topics
such as stakeholder value, risks and opportunities,
regulatory preparedness, ESG ratings, and key ESG
focus areas.
Our ESG agenda is led by our CEO, Leadership
Team, and roles exclusively devoted to ESG matters.
Management regularly reports to the full Board of
Directors on ESG topics, providing an update on key
metrics and progress. These ESG topics also include
educational components to keep our Board of Directors
abreast of the quickly changing ESG regulatoryenvironment, as well as evolving practices, risk
oversight, mitigation strategies, and other relevant ESG
topics.
Our ESG Executive Council—comprised of in-housesubject matter experts, such as human resources,
procurement, environment, health and safety, legal,risk, and compliance and ethics—meets regularly andprovides updates to an ESG Oversight Committee,
comprised of senior leaders from across theorganization. These updates highlight advancements,
regulatory updates, and risks.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Stakeholder Engagement

How ADI Engages with Our Stakeholders:

ADI delivers holistic solutions that make atrue impact on the world. This is fundamental
to our approach to ESG. In addition to
engaging shareholders, we engage a variety of
stakeholders including customers, employees,
communities, and suppliers.

EMPLOYEESCUSTOMERSMEMBERSHIPS• Regular company- or businesswide emails and videos fromsenior leadership• Meetings with senior executives
at the business and corporatelevel• Signatory to the UN Global
Compact• Leadership town halls,
discussions, and webinars,
including opportunities forquestions and answers• Engagement strategy driven bybusiness leadership depending
on industry

We have ongoing, transparent communications
to ensure we continue to focus on the issues
most important to our stakeholders. Topics
covered include our global engagement,
regulatory compliance, supply chain resiliency,
EHS programs, and progress toward our robust
climate targets.

• Pulse engagement survey and
ADI Cultural Values survey

COMMUNITIESSUPPLIERS• ADI locations, empowered to support charitableorganizations based on the needs of thelocal community• Commitment to an ethicalsupply chain program andCode of Corporate Social
Responsibility for suppliers
based on RBA’s strong guidance• ADI volunteers, contributing to the communities
where ADI people live and work
• Analog Devices Foundation, committed totransforming our communities and shaping thediverse workforce of tomorrow• Supplier Ethics Agreement• Outreach to local communities and stakeholders
on decisions with broader impact• Access to ADI’s Whistleblower
hotline• Evaluate our suppliers through
RBA online tools

20• Member of the RBA, Responsible
Minerals Initiative (RMI), andResponsible Labor Initiative(RLI)• Provide customers withcompleted self-assessment
questionnaires and participate
in validated assessment
program audit through ourmembership in the Responsible
Business Alliance (RBA)• Member of Semiconductor
Industry Association (SIA)
and our CEO and Board Chair
Vincent Roche serves on their
Board of Directors

REGULATORS/ GOVERNMENTAGENCIESINVESTORS• Member of SEMI

• Pursuit of “honest broker”
relationships with government
stakeholders to promotecollaborative, win-win outcomes• Strong commitment totransparency—communicate
strategic, operational, andfinancial results and progress onpriorities• Commitment to regulatorycompliance and strong
performance• Quarterly earnings conference
calls open to investors andavailable on our website• Engagement to support
decision makers in sustainability
goals, including climate change
and decarbonization• Annual meeting of shareholders• Investor relations website• Regular engagement withinstitutional investors and othershareholders, covering a variety
of topics, including ESG

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Shareholder Engagement
We conduct extensive investor outreach throughout the year involving our senior management, investor relations,
legal, and human resources departments. This helps management and our Board of Directors understand and focus
on the issues that matter most to our shareholders, so ADI can address them effectively.

WHO WE CONTACTED

Since our inception as a public company, we have maintained an active engagement program with our shareholders,meeting with them extensively throughout the year as part of our investor outreach efforts.

50%
WINTER - SPRING• Conduct active outreach with top investors to discuss items to be considered at the annual
meeting, if needed, given matters to be considered• Annual Meeting• Publish Proxy Statement

During fiscal year 2022, as part of our annual
outreach program, we reached out to our
top 20 shareholders, as well as additional
shareholders that voted against say-on-pay in2022, collectively representing nearly 50% of
our total shares outstanding, with an invitation
to have discussions with their corporate
governance teams. Shareholders representing
approximately 30% of our outstanding shares
accepted our engagement invitation.

WHAT WE DISCUSSEDFALL

SUMMER

Topics covered in these meetings included:• Conduct active outreach with top
investors to understand their top
priorities and solicit feedback on
governance topics, including ESG
and compensation• Evaluate proxy season outcome and trends,
corporate governance best practices andregulatory developments• Executive compensation, including
one-time awards• Share investor feedback with our
Board of Directors• Publish Annual Report• Publish annual ESG report to informstakeholders, including investors, about
recent developments relating to
ESG matters• Corporate governance matters, including
Board structure and refreshment• Other ESG topics, including supply
chain, human rights, risk management,sustainability programs, DE&I, and humancapital management

21

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

22

We reviewed the key takeaways from these meetings with our shareholders with our Board of Directors, with the goal of continuing to evolve our corporate governancepractices to best meet the needs of ADI and our shareholders. While some of the feedback received has led to enhancements to our practices and disclosure, we also received
positive feedback regarding certain practices that reconfirmed that our programs continue to be effective from our shareholders’ perspective. For example:
WHAT WE HEARD

Topic

WHAT WE DID

Feedback

Changes for Fiscal Year 2022 and Beyond

EXECUTIVE COMPENSATION
Design of
ProgramGenerally

Shareholders were generally pleased with the overall design
and framework of our executive compensation program.

• The Compensation and Talent Committee did not significantly revise the designof our executive compensation program for fiscal year 2022, other than as noted
under Notable Compensation Decisions for Fiscal Year 2022, and does not plan tosignificantly revise the program in fiscal year 2023 based on the feedback received.

CORPORATE GOVERNANCE
Combined CEO
and Chair Role

Shareholders appreciated that our Board of Directors
enhanced the responsibilities of the Presiding Director
under our Corporate Governance Guidelines.

• Our Board of Directors believes the combined CEO and Chair role is the appropriate
structure given our strategic objectives.

Board
Refreshment
and Tenure

Shareholders were interested in our Board of Directors’refreshment practices.

• Our Board of Directors continues its focus on refreshment practices to align with
our strategic visions and objectives, including welcoming André Andonian to theBoard of Directors in June 2022. Mr. Andonian brings significant industry, strategic
and leadership experience to our Board of Directors.

ESG Report
and Targets

Shareholders commended our ESG practices and reporting,including enhanced governance structure and ambitious
environmental targets.

• Continued to enhance our disclosure in this report including highlighting KPIs,
communicating our progress, and disclosing Scope 3 data.

Human Capital
Matters

Shareholders inquired about attrition, DE&I objectives
and human capital topics, and noted that we have robust
DE&I practices.

• Our Board of Directors enhanced the purview of the Compensation and TalentCommittee to specifically include oversight of human capital managementand diversity.

ESG MATTERS

We intend to continue our shareholder outreach efforts on an ongoing basis and look forward to continuing to engage with our valued shareholders.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

23

2022 ESG Results
As part of our commitment to accurate and transparent disclosures for our stakeholder, the following pages itemize our publicly available ESG performance metrics and KPIs.
Where appropriate, we align them with the appropriate UN Sustainable Development Goals (SDGs) to help address the identified societal challenges.
KPI and Definition

Value

UN SDG Alignment

DIVERSITY, EQUITY, AND INCLUSION
Female engineers (exempt) globally*
Fiscal Year (FY), 5-year aspiration: 17% --> 26%

18.5%

Female people managers globally
FY, 5-year aspiration: 23% --> 29%

25%

Black, Hispanic, Latinx employees in the U.S.
FY, 5-year aspiration: 6% --> 9%

7%

WORKFORCE DATA
Number of total employees
Calendar Year (CY), Total number of ADI’s employees~24,450

Percentage of female employees in our global workforce
CY, Percentage of female employees in our global workforce

41%

GREEN ACTIVITY***

Green revenue
FY, % of total revenue that can be tied to potential sustainable end applications~30%

Green R&D
FY, % of total R&D that can be tied to potential sustainable end applications~30%

This figure reflects an adjustment to how we identify Female Engineers in Exempt roles. For this and future calculations, the population will be identified using internal Career Band classifications rather than countryspecific Exempt status definitions. This adjustment provides greater consistency and accuracy.

** For more information about our Green revenue and R&D methodology see here.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONKPI and Definition

OUR COMMUNITYValue

APPENDICESUN SDG Alignment

HEALTH AND SAFETY
Injury and illness recordable rate
FY, Number of injury and illness cases per year, based on 100 employees (includes contingent workers) working
200,000 hours annually, as measured against OSHA recordability criteria

0.26

Lost workday incident rate
FY, Number of injuries & illnesses resulting in days away from work, based on 100 employees (includes contingent
workers) working 200,000 hours annually, as measured against OSHA recordability criteria

0.16High consequence injuries
FY, Work-related injury that results in a fatality or in an injury from which the worker cannot, does not, or is notexpected to recover fully to pre-injury health status within six months

10

Fatalities
FY, Number of employee and contingent worker work-related fatalities during year0

ISO 14001 sites
CY, Number of manufacturing sites certified to ISO 14001

9/9

ISO 45001 sites
CY, Number of manufacturing sites certified to ISO 45001

6/9

Notices of Violation with Fines
FY, Number of written notices of violation involving fines served by a regulatory agency due to environmental, health,or safety infractions

1

EMISSIONS
Scope 1 GHG emissions
CY, Direct GHG emissions from ADI’s operations

176 (thousand metrictons CO2e)

Scope 2 GHG emissions
CY, Indirect GHG emissions from electricity usage

149 (thousand
metric tons CO2e)

Scope 3 GHG emissions*
CY, Other indirect GHG emissions not within ADI’s scope 1 and 2 boundaries

2,654 (thousand metrictons CO2e)* Includes categories 1 through 9 as defined by the Greenhouse Gas Protocol. Downstream categories 10-12 are excluded as our products areintermediate products with many potential downstream applications. CY2022 Scope 3 numbers were adj usted in 2024 to reflect methodology improvements. More information can be found here.

24

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONKPI and Definition

OUR COMMUNITY

Value

ENERGY
Heating / natural gas consumption
CY, Consumption of fuel for the generation of heat

103,309 MWh

Total electricity used
CY, Total electricity used

583 GWh

Nonrenewable electricity
CY, Non-renewable electricity purchased

271 GWh

Renewable electricity – direct
CY, Renewable electricity from direct procurement (on-site generation, PPAs, green tariffs, etc.)

266 GWh

Renewable electricity (EACs)
CY, Renewable electricity from the purchase of unbundled Environmental Attribute Certificates

44 GWhWATER*

Water withdrawn (production)*
CY, Quantity of all water drawn from surface water, groundwater, seawater, or a third party for any use over thecourse of the year normalized to production.

0.28 gal/cm(squared) Si/ML

Water withdrawn (revenue)
CY, Quantity of all water drawn from surface water, groundwater, seawater, or a third party for any use over thecourse of the year normalized to revenue

963 Millions of gallons

Surface water withdrawn
CY, Water withdrawn that occurs naturally on the Earth’s surface in ice sheets, ice caps, glaciers, icebergs, bogs,
ponds, lakes, rivers, and streams

0 Gallons

Groundwater withdrawn
CY, Water withdrawn that is held in an underground formation

4 Millions of gallons

Seawater withdrawn
CY, Water withdrawn from the sea or ocean

0 Gallons

Third party water withdrawn
CY, Water withdrawn from municipal water suppliers

958 Millions of gallons

Water recycled
CY, Quantity of all water recycled or reused for purposes which would otherwise require additional water withdrawn

237 Millions of gallons

Water discharged
CY, Quantity of effluents, used water, and unused water released to surface water, groundwater, seawater, or a third
party, for which the organization has no further use

669 Millions of gallons

Water consumed
CY, Quantity of water that has been withdrawn and incorporated into products, generated as waste, evaporated,transpired, or is polluted to the point of being unusable by other users, and is therefore not released back to surface
water, groundwater, seawater, or a third party

293 Millions of gallons

Water withdrawal is normalized to fab production output. A description of the metric and how it is calculated is noted here.

APPENDICESUN SDG Alignment

25

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONKPI and Definition

OUR COMMUNITY

Value

WASTE
Total waste
CY, Total waste generated, where waste is defined according to the national legislation at the point of generation

5228 Metric tons

Total nonhazardous waste
CY, Total waste that is not considered hazardous by national legislation

3751 Metric tons

Total nonhazardous waste recycled
CY, Total nonhazardous waste that is recycled, reused, or reclaimed

2285 Metric tons

Total nonhazardous waste landfilled
CY, Total nonhazardous waste that is sent to landfill

493 Metric tons

Total hazardous waste
CY, Total waste that is considered hazardous by national legislation

1477 Metric tons

Total hazardous waste recycled
CY, Total hazardous waste that is recycled, reused, or reclaimed

373 Metric tons

Total hazardous waste landfilled
CY, Total hazardous waste that is sent to landfill

14 Metric tons

COMPANY OUTREACH
Community Grants
FY, Grants provided by the Foundation to charitable organizations$800,000

Employee donations and Foundation match
FY, A combination of employee donations and time spent volunteering that is matched by the Foundation$2,000,000

Hours volunteered by employees
FY, Number of hours volunteered reported by employees

5,000+ Hours

Unique organizations supported
FY, Number of unique charitable organizations supported through the Foundation

900+

Countries Impacted
FY, Number of countries impacted by the Foundation’s community grants, donations, and volunteering

20

APPENDICESUN SDG Alignment

26

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSKPI and Definition

ADI HORIZONOUR COMMUNITYValue

SUPPLY CHAIN
Percent of Suppliers Responding to ADI’s Sustainability Survey
CY, Surveyed ~60% of ADI’s spend in FY21 & FY2280%+

ADI SAQ Completion
CY, Percent of ADI facilities with SAQ scores low or medium

100%

Supplier Responsibility
CY, Percent of suppliers that received ADI’s Supplier Ethics Agreement and RBA Code of Conduct

100%

FINANCIAL HIGHLIGHTS
Revenue$12,013,953 (thousands)

R&D Spend$1,700,518 (thousands)

Capital expenditures as a percentage of revenue

5.8%

APPENDICESUN SDG Alignment

27

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZON

Setting ESG Priorities

ESG Goals and Initiatives

ADI’s ESG strategy and priority setting is informed
by stakeholder engagement, the global regulatory
landscape, our enterprise risk management (ERM)
assessment process and outcomes, and our own
aspirations and goals. We also consider third party
ESG assessments and benchmark disclosure bestpractices. This report is intended to address theneeds of these stakeholders. Our ESG priorities are:

ESG at ADI is deeply embedded across our organizationand our business strategy. Our overarching ESG
program is led by a core centralized team in the CEO’s
Strategy Group, who engage across the organization
to ensure a breadth of inputs are included in our
strategy and the appropriate experts and leaders
are fully engaged. In 2022, ADI’s team reviewed
the input, including doing deep dives on individual
program maturity levels, ERM input, and the regulatory
landscape. The following focus areas were identified:• Business innovation, including developing products
to enable a net zero future• Risk oversight• Cybersecurity, data privacy, and protection• Environmental sustainability• Human rights• Supply chain resilience• Corporate culture• Talent issues, including recruitment, retention, DEI
initiatives, and employee health and safety

OUR COMMUNITYAPPENDICES• Culture and talent, including diversity, equity,and inclusion• Environmental sustainability within our operations• Ethical supply chain and supply chain resilience• Sustainability as a business• Regulatory preparedness

ADI intends to undertake a materiality assessment withsupport from a third party. That exercise will help affirm
or add to our priority focus areas.
We are committed to transparency and seek to frame
our ESG disclosures to be responsive to the needs ofour stakeholders by using the frameworks developedby the Global Reporting Initiative (GRI), Sustainability
Accounting Standards Board (SASB), and Task Force on
Climate-Related Financial Disclosures (TCFD).

“I’m proud to work in a company
like ADI that treats its
employees with respect andfairness, while challenging
them to develop breakthroughnew technologies in order tomake the world a cleaner, safer
and more productive place.”
SHANE G. - VP of Manufacturing Operations,
Ireland28

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

29

Our Solutions
With a strong foothold bridging
the physical and digital worlds,
ADI is uniquely positioned to drive
innovation in our key markets,
including automotive, industrial,
communications, digital
healthcare, and consumer.

IN THIS SECTION:
30

ADI’s ESG Product Impact
30

The Transformative Roleof Semiconductors

31

Automation

36

Electrification

41

Connectivity

45

Human HealthABOUT ADIANALOG DEVICES 2022 ESG REPORTOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

ADI’s ESG Product Impact
The Transformative Role of Semiconductors
But before these breakthroughs occur, we ask the hardquestions and learn how to leverage the Intelligent Edgeto our advantage. We collaborate with customers andco-create innovations that improve quality of life andsolve the world’s most pressing challenges: from keeping
desalination motors running to provide fresh water indrought-stricken regions; to helping factories become
more energy efficient and productive; to helping people
with epilepsy know the warning signs of a potential
seizure; to helping lessen the digital divide by connecting
remote regions of the world with satellite internet.

Should anyone doubt the impact
semiconductors have on our everyday
lives, they need only look around.
Semiconductors are the backbone of somany products and industries that touch
almost every aspect of our lives—from theobvious (cellphones, laptops, and EVs),
to the not-so-obvious (smart wearables,
smoke/carbon monoxide detectors, andpersonal heart monitors).

At our core, ADI provides our customers with thetechnical expertise, support, and resources theyneed to overcome engineering’s toughest challenges.
Together, we deliver breakthroughs at the Intelligent
Edge that help make our world safer, more efficient,and sustainable.

Beyond this, when you consider the broad spectrum of
industries that rely on chips to run their enterprises,
you realize these tiny marvels of technology havetruly embedded themselves into the fabric of today’s
modern world.
For over a half century, ADI has become an industry
leader in designing semiconductors and systemsolutions that bridge the physical and digital worlds forthe benefit of our planet and its people. Beyond this,as innovators at the Intelligent Edge, we bring vital
intelligence to the technology of our lives by harnessing
and activating data. The combination of our analog,
software, and digital capabilities enable our customers
to experience digital transformation.

AUTOMATIONWHAT IS THE INTELLIGENT EDGE

“Semiconductors are the bedrockof the modern economy.”
VINCENT ROCHE,
CEO and Chair of the Board of Directors

ELECTRIFICATIONCONNECTIVITY

The Intelligent Edge is the convergenceof physical and digital worlds, where dataprocessing and intelligence is shifting fromthe cloud to the edge. This trend is happening
across all industries, thanks to new applications
like autonomous driving or automated factories,
and it enables systems to sense, interpret,
communicate, learn, decide and act in real-time.
ADI has been operating at, and enabling, the“Intelligent Edge” long before it was named. And
now the world is moving increasingly toward us,
where the data is born. Our high-performance
portfolio, with unmatched breadth and depth,
combined with our domain expertise makes us
uniquely positioned to drive the next waves ofinnovation. It used to be that simply recovering
the signal was the intelligence that added value
to data gathering. Now it is converting data into
insight, understanding, and action, through theaddition of increasingly powerful AI-assistedcomputing and secure connectivity at the edge.
Our customers are asking us to bring analog,
digital, and software solutions closer to where
the sensing and actuation take place. Our
solutions will help enable new applications thattransform industries and have a positive impact
on humanity and our planet.

HUMAN HEALTH

30

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31

Automation
Broadly defined, automation is the use of technology
to complete a task, make decisions, or take an action
without depending on human involvement. The goal
is often to achieve scale in situations featuring large
volume, consistent, well-defined, and repetitive tasks
via process automation. It applies, for example, toproduction lines where workers perform dangerous
tasks, such as in materials handling and logistics, orin pharmaceutical settings, where uniform results are
critical and require increased standardization.
Naturally, companies that have embraced automation
have likewise embraced new technological advancesin pursuit of new capabilities. These advances
increasingly rely on the types of technologies that ADI
creates, with sensing, measurement, connectivity,
power management, and cybersecurity solutions
offering the foundation for intelligent, digitized
operations. The digitization of operations allows forthe creation of new data, insights, and actions acrossvarious automated applications.
For ADI’s customers, automation is key to enabling
greater efficiencies, improved safety in areas likehuman-robot collaborations, and greater flexibility andeconomic resilience across factories, buildings, and,more broadly, economies. Making each goal a reality
increasingly means using technologies that intelligently
bridge the physical and digital world through sensing,connectivity, interpretation, and control. The result isenergy-efficient operations informed by new insightand actions informed by real-time data.

With approximately two-thirds of the world’s energy
consumed by the industrial sector, creating new
efficiencies is not just a matter of cost savings. It
plays an increasingly important part of organizations’energy and carbon reduction goals as they pursue
strategies to achieve net-zero emissions. Investingin sustainability goals and driving profitability are
not mutually exclusive, as reducing energy usage
also helps drive competitiveness. It also impacts
corporations’ ability to keep pace with an evolving ESG
regulatory landscape, where data availability (access)and data quality (accuracy/completeness) are two
significant challenges.
Achieving these efficiency gains requires equipmentthat can sense, control, connect, and interpret while
adjusting performance across assets, systems, andprocesses. This can take the form of:• Precision measurement and control employedin factories and intelligent buildings enable thegeneration of operational control data and contextual
insight that optimize asset use. This can result in
more precise control, greater energy efficiency,
and improved performance for equipment such as
conveyor systems, HVAC, lighting, electric motors,
and other mission-critical pieces.
• Additive manufacturing, wherein layers of material
are laid on top of one another, as in 3D printing, canproduce shapes that are not possible through otherprocesses—enabling the reduction of materials
consumed. Decreasing the weight of a part while
increasing its performance can have a meaningful
impact on that part’s carbon footprint.

ANALOG DEVICES 2022 ESG REPORT• In-line test equipment that is used to ensure thequality and reliability of critical products ranging fromsemiconductors to pharmaceuticals. Manufacturers
seek to improve the per unit cost of testing theirproducts and improve test throughput within the
manufacturing process. By leveraging testing
technologies featuring higher precision sensing
and control, as well as more densely populated test
apparatuses, manufacturers can achieve improvements
in productivity, efficiency, and energy consumption perunit produced.
Deploying these technologies is critical to meeting theefficiency goals companies are putting in place andessential to manufacturing for sustainable applications.
A key example is the build-out of giga-factories, which
need to produce electric vehicle batteries costeffectively at scale. This lowers the cost of producing
the vehicle and increases consumer adoption.
Beyond making industry more sustainable, automation
offers new opportunities to keep workers safe throughsystems that monitor for risks in the environment andfocus on security concerns. Automation also reduces
strenuous, repetitive, and potentially dangerous tasks,
allowing workers to address higher-value work.
ADI customers are rapidly deploying:• Cobots, autonomous mobile robots (AMRs), andmore advanced material handling systems that
support workers and reduce strain by taking on tasks
like carrying heavy objects across factories andwarehouses. ADI’s industrial vision systems enablerobots to perceive their surroundings better andinteract more safely with human operators.
• Gas detection technology that monitors a space andalerts occupants of exposure to harmful conditions
like smoke or gas leaks.
• Process control automation that enables thesensing and sharing of real-time data, allowing realtime response to critical situations in facilities likechemical processing plants.

ABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICESCASE STUDY: HORIBASPEEDING UP SAFETY, SUSTAINABILITY,
AND PRODUCTIVITY WITH REAL-TIME,INFRARED GAS ANALYSIS

Gas detection and analysis are essential as industry
strives toward carbon neutrality and ensuring
safe conditions for its workers. Next-generationhydrogen fuel, monitoring industrial manufacturing
processes, and environmental disclosures all
require accurate measurement techniques toensure that work environments are safe andindustry is productive. To meet the challenges,
gas analysis solutions must be highly sensitive andreliable, even in challenging environments.
Horiba, a worldwide provider of instruments andsystems for applications ranging from automotive
R&D to in vitro medical diagnostics, recently
commercialized Infrared Laser Absorption

Modulation (IRLAM™), a proprietary technology that
addresses the market’s needs for speed, accuracy,
and versatility to measure a wide range of gases.
Horiba required precision signal conditioning thatwould reliably detect even subtle traces of gas.
Horiba turned to ADI for its leading-edge
performance ultralow noise and high speed signal
processing technologies and ultra-high speed
analog-to-digital converters (ADCs). By leveraging
ADI technology, Horiba could detect trace amountsof highly volatile, dangerous gases in differing
environments, while contending with various
conditions of heat, wind, sound, and vibration. High
speed, high accuracy, real-time monitoring helps toimprove manufacturing productivity dramaticallyand leads to reduced energy and material
consumption.

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ANALOG DEVICES 2022 ESG REPORT

Automation is critical to enabling industry to better
meet society’s needs through continued economic
growth, supply chain resilience, and personalized
offerings in areas like healthcare. If new technologies
are not adopted, advanced manufacturers will bechallenged by a tight labor market, limiting theirability to meet market demand. For instance, asof December 2022, there were ~800k unfilled
manufacturing jobs in the U.S. alone as reportedby the U.S. Bureau of Labor Statistics. Additionally,
supply chain volatility and concern over unsustainableshipping practices are increasing interest in re-shoringproduction closer to where a company’s products
are used. Automation technologies will be necessary
for mitigating labor constraints and unlocking
the efficiencies needed to re-shore production in
geographies that would otherwise be too costly.
Automation built with sensing, motor, and motion
control technologies for robotics, conveyors, andautonomous mobile robots will play a critical role.
On a more human level, automation technologies suchas additive manufacturing are creating value by opening
doors for personalized solutions.

ABOUT ADIOUR SOLUTIONSADI HORIZONOne example is in healthcare, wherein flexible
manufacturing technology can now produce prostheses
and medications personalized for the exact individual
who needs them. The result—a future where industry
goes beyond matching supply with demand at a macrolevel and is instead able to meet the needs of individuals
in life-changing ways.
In many cases, the adoption of automation technology
is based on the user’s self-interest since automation
offers gains in productivity, cost savings, andoperational stability. However, there are other factors
at play, including the creation of more stringent
standards and regulations—specifically in areasof energy efficiency and waste reduction. Notable
examples include:• Electric motor efficiency standards generated by
the International Electrotechnical Commission (IEC)are being leveraged by governments to reduce energy
consumption. Because ~70% of industrial electricity
usage is consumed via motors, these standards, in
combination with organizations’ goals to achieve
net zero, are major motivators for technology thatOUR COMMUNITYAPPENDICES

33

better senses the load requirements placed on a
motor, and more precisely control output to match,such as those offered by ADI.
• Energy efficiency standards for buildings, such as
those implemented in the EU, California, and otherlocations require new buildings to achieve greater
energy efficiencies and interface with new, moresustainable energy sources. Additionally, incentives
such as those included in the Inflation Reduction
Act in the U.S. and the EU’s Green Deal policy, offer
financial assistance for local adoption of building
energy codes, and investment in retrofit programs
that will lead to a reduction in energy consumption.
• Industrial policy, such as the Inflation Reduction Act
and CHIPS Act in the U.S. are creating incentives forcompanies to invest in in-country manufacturing of
critical technologies like renewable energy assets
and semiconductors.

ANALOG DEVICES 2022 ESG REPORTIn addition to government influence, the adoption of
automation technology is driven by various market
trends.
• Constrained labor forces are creating challenges
across industries. This includes manufacturing,where limited availability of skilled labor iscontributing to 800k roles being open as ofDecember 2022 in the U.S. Customers of ADI who
design automation equipment are also challenged
by constrained engineering teams and a wave of
retiring hardware experts. These dynamics are notjust fueling the adoption of automation but also thetools required to create automation technologies,
with more complete solutions, design resources, andreference hardware becoming more critical.
• Future-proofing of systems and technologies
across factories, infrastructure, and other facilities.
Dynamic market conditions and advances intechnology are creating incentives for the adoptionof technologies that are designed with future
requirements in mind. This includes connectivity
technology with the bandwidth to handle higher
volumes of data across multiple network protocols,
test equipment capable of keeping up with evolving
industry standards, and mobile robot solutions readyto operate with equipment from other vendors.
• Greater collaboration across technology ecosystems
is accelerating the sharing of new concepts,
synthesis of knowledge from complementary fields
of expertise, and the adoption of solutions that meetincreasingly complex customer needs. Organizations
seek to deploy more interconnected technologies,
while collaboration between suppliers, customers,
and industry collaborators are opening the door for
more holistic solutions to macro challenges.
1

The World Bank (2022), Solid Waste Management

2

Our World in Data (2020), GHG Emissions by Sector

3

IEA (2022), Industry

ABOUT ADIOUR SOLUTIONSADI HORIZON

Finally, there are several areas in which industrial
companies are striving to reduce waste in the formof emissions, energy, and manufacturing byproducts.
Companies must rethink processes and operations,
often by adopting new technologies that allow them toidentify sources of waste and implement automation
solutions to reduce those sources of waste accordingly.
Solid waste reduction is a significant challenge acrossindustries. Worldwide, it is estimated that more than
2 billion tons of solid waste are generated annually1.
In addition to being indicative of inefficiencies,
solid waste reduction is a significant challenge forcompanies seeking to lower their environmental
impact, achieve zero-landfill goals, and enable moresustainable, circular economies.
• Commercial freight, shipping, and transportationis the source of ~5% of global emissions2. As
companies seek to reduce their scope 1 and 3
emissions, reducing unnecessary transportation
through more efficient logistics and more localized
production will be key.
• Energy efficiency is increasingly important, asorganizations work to limit their emissions in the faceof rising global energy demand. With approximately
two-thirds of global energy consumed through theindustrial sector3, there is significant opportunity to
reduce consumption, particularly in electric motors,
where electricity represents the majority of the total
cost of ownership.

OUR COMMUNITYAPPENDICES

34

Electric Motors / VSDs
Electric motors are believed to account for about 70%
of industrial electricity consumption. According to a
study by Lawrence Berkeley National Laboratory, themajority of industrial and commercial motors in the
U.S. are more than 10 years old. These older motors
are less efficient than more modern equivalentsthat use more advanced technologies like ADI's. Our
technologies enable more precise motor control,
more insightful management of an asset’s health, andmore power efficient system design. With the total
cost of owning a motor estimated to be up to 95%
based on energy consumed, there is a growing trend
towards adopting advanced motor technologies.
SAVING ENERGY & INCREASING
MOTOR UTILIZATION
Precision System Control
Seamless Connectivity
Asset Health Monitoring
Efficient Power Systems
Power Supply
Encoder

Noise

Connectivity

MotionControl

Voltage & Current
Sensing

Isolated
Gate
Driver

Power
Stage

HV

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICESCASE STUDY: BRIGHTSOURCE
POINTING THE WAY TO SOLAR ENERGY WITH
ADI TRINAMIC TECHNOLOGY

BrightSource Energy, Inc. combines
breakthrough technology with world-classsolar thermal plant design capabilities togenerate clean energy, reliably and responsibly
while minimizing impact to the environment.
Unlike solar panels on the roof of a house thatuse photovoltaic cells to capture the Sun’s
rays and convert them to energy, BrightSource
employs motion controlled, tracking heliostats(mirrors) that accurately follow the Sun’s pathacross the sky. The mirrors direct the Sun’s
rays toward a centrally located water tower,
boiling water to steam, and turning a turbine
generator to deliver synchronous, reliable, andrenewable electricity to the grid. The greater
the precision movement of the heliostats
in tracking and directing the Sun’s rays, thegreater the energy output of the concentrated
solar power (CSP) system.
The challenge for BrightSource was topartner with a company that could deliver anultraprecise, motion activated technology forthousands of heliostats. What’s more, thistechnology had to endure unpredictable, harshweather conditions; fit within the constraintsof the panels; be highly energy efficient; anddeliver consistent and reliable results.

BrightSource selected Analog Devices’ ADI
Trinamic motion control technology anddeveloped in-house drivers for its solar panel
motors. BrightSource chose this specifictechnology because it featured CoolStep andStallGuard, which increased the functionality
and efficiency of applications without requiring
additional components. CoolStep reduces
motor energy consumption by up to 75% andlessens heat generation. StallGuard offers
cost-effective feedback and diagnostics,
making it ideal for self-calibration, distancemeasurement, or to verify all mechanics
functions within safety margins.
ADI’s Trinamic technology is currently being
used in BrightSource’s Redstone project inSouth Africa, which includes 42k heliostatsthat generate 100 MW concentrated solar
power.

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ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

36

Electrification
Electrification refers to the process of replacing
technologies that use fossil fuels with technologies
and applications that use electricity as a source ofenergy. While electric vehicles (EVs) have dominatedmedia headlines and consumer attention over the past
few years, EVs are just one aspect of a much larger,
complex, and interconnected electrification ecosystem
spanning industries, from buildings and electric vehicles
to renewable energy and grid infrastructure. For
sustainability to be scalable and sustainable over thelong term, a holistic approach must be taken to innovate
across the electrification ecosystem. Collective
innovation, collaboration, and partnership across that
ecosystem will drive electrification sustainability.
Today, more than 70% of the world’s current
greenhouse gas (GHG) emissions come from industry,buildings, and transportation energy use according
to a 2020 report from The World Resources Institute.
As more applications across these sectors become
electrified, energy demand will increase. We must meetthose demands with sustainable sources.
Electrification seeks to revolutionize energy production
and transmission, enabling safer, more efficientand reliable energy generation, distribution andtransmission—all driving long-term sustainability.

Grid Infrastructure
Grid infrastructure is the physical and organizational
systems that facilitate the generation, transmission,and distribution of electricity, including power
plants, renewable sources, energy storage facilities,
transmission lines, substations, transformers, anddistribution networks.

With increasing demands on the grid, and an
aging infrastructure worldwide, there is a growing
need for modernization and decentralization. As
decentralized renewable energy sources become
increasingly widespread, the grid must be capableof efficiently handling solar and wind’s intermittent
power generation. Grid infrastructure must also
support energy storage systems (ESS), allowing excess
renewable energy to be harnessed for later use during
periods of high demand or low generation. ESS plays
a vital role in optimizing the utilization of renewable
resources, facilitating demand-side management, andreducing reliance on fossil fuels.

Unlocking Renewable Energy Generation
Renewable energy generation is the production ofelectricity from naturally replenished sources, suchas solar and wind, providing a clean and renewable
alternative to traditional fossil fuel-based power
generation, reducing greenhouse gas emissions anddependence on finite resources.
Barriers to renewable energy generation include
intermittency and variability of renewable sources,
limited grid infrastructure and transmission capacity,
high upfront costs, and policy and regulatory challenges.
Intermittency can be addressed through energy
storage technologies, upgrading grid infrastructure toaccommodate decentralized renewable sources, andthe expansion of transmission capacity. Collaboration
between government and public-private partners canprovide incentives and subsidies, mitigating upfront
costs. Efforts to streamline policy and regulatory
frameworks will facilitate the integration of renewableenergy into the grid.

ANALOG DEVICES 2022 ESG REPORTADI electrification solutions maximize renewableenergy production and safety with solar/photovoltaic
inverters, wind-turbine systems, signal processing
technologies, and system integrity monitoring –delivering low power, cost-conscious solutions toenable scalable energy generation.

Enhancing Energy Storage Capabilities
Energy storage enables the capture and storage ofexcess energy in batteries for later use, providing a
reliable and continuous power supply. They play a
critical role in addressing the challenges of intermittent
renewable energy sources, grid stability, resilience,and reliability while promoting electric vehicle use,
integration, and adoption.
Solar and wind power generation fluctuates based on
weather conditions. Energy storage "bridges the gap"by acting as a shock absorber, capturing excess energy
during periods of high generation, and storing it for use
during low generation or high demand. This flexibility
ensures that renewable energy sources can operate attheir maximum capacity and efficiency, making themmore attractive and competitive in the energy market.
ADI battery management solutions precisely measureand monitor individual battery cells, providing
information about voltage and current, enabling energy
storage systems (ESS) with better capacity, energy
utilization, and lifetime value. Since 2019, ADI has
enabled almost 86GWh of total energy storage.
Limited scalability and capacity must be alleviatedto realize the full potential of energy storage.
Advancements in battery technology, with improved
energy density and reduced material costs, are alsoneeded. ADI advances in battery technology are paving
the way with ethical cobalt-free battery chemistries tohelp ensure the market’s sustainable growth. Continued
research, development, and scaling up of storage
technologies will drive down costs and promote large
energy storage systems adoption and growth.

ABOUT ADIOUR SOLUTIONSADI HORIZON

Integration and compatibility with existing infrastructureand grid systems present another challenge, together
with implementing advanced grid management systems.
Further research and development efforts to improvesustainability should focus on recyclable materials forbattery production. By facilitating the integration ofrenewable energy into the grid, ESS will ensure a morestable, resilient, and sustainable energy supply.

Enabling Efficient Energy Transmission
and Distribution
Energy transmission and distribution is the processesof delivering electricity from power generation sources
to the end user. It encompasses the infrastructure,technologies, and systems that transmit electricity tohomes, businesses, and industries.
Many transmission and distribution systems designed
decades ago are ill-suited to accommodate today’s
decentralized renewable energy sources. Upgrading
and modernizing the grid with smart grid technologies
featuring real-time monitoring, load balancing, andenhanced control and efficiency is essential to enable
flexible energy distribution, optimize renewable energy,
and minimize energy loss during transmission anddistribution. Governments must establish supportive
policies and regulatory frameworks that encourage
investment in renewable energy infrastructure andpromote grid interconnection standards.
ADI’s smart grid management solutions, equipped onsome of the world’s most sophisticated secondary
stations, deliver energy monitoring and grid automation
capabilities for reduced operational expenses,
improved customer service, and better worker safety.
By securing transparency into the distribution andutilization of energy across the grid, inefficiencies,
wastages, and gap areas can be identified moreclearly. This presents the opportunity for stakeholders,
including governments, utility companies, industries,and even residential consumers, to use ADI’s portfolioof smart grid management tools and capabilities fortaking corrective actions wherever necessary.

OUR COMMUNITYAPPENDICESCASE STUDY:
DELIVERING A SMART,RESILIENT GRID
ADI’s collaboration with Gridspertise, a subsidiaryof the Enel Group, provides cutting-edge
sustainable solutions to distribution system
operators (DSOs). The duel effort enables thedevelopment of solutions that support selfhealing and adaptation in response to energy
supply and demand changes as new renewableenergy sources come online. This includes
smart meters and grid digitization solutions
that enhance legacy infrastructures and do not
require costly rebuilds.
Grid digitalization will represent a $5.1T market
by 2050 according to a 2022 Bloomberg report.
ADI technology is designed into the world’s mostsophisticated secondary substations, adding
intelligence at the edge of the grid to ensure
reliable energy delivery and grid management.
ADI has shipped over 700M energy metering
products (29M in 2022). ADI expects this type ofequipment to become the new standard as thegrid continues evolving to a more decentralized
network of energy sources.

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ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Consumer Applications

EV Charging

Once energy is generated, stored, transmitted, anddistributed via the grid, the next step in the journey isconsumer applications, such as electric vehicles, EV
chargers, office buildings, and homes. However, from a
consumer perspective, a wide host of barriers still exist
to adopting electrification technology. These include
range anxiety, EV charging times, the lack of charging
infrastructure, and the cost of sustainable applications.

EV charging replenishes the battery that powers EVs,
using an external electric source. Barriers to widespread
adoption include inadequate charging infrastructure,
lengthy charging times, and grid capacity issues. Rapid
charging technology makes EVs more convenient, andsmart grid technology can help manage demand anddistribute power more efficiently.

CASE STUDY:
SMART METERS FOR
EFFECTIVE ENERGYCONSERVATION AND GRIDMANAGEMENTADI is mitigating a major convenience barrier around EV
ownership by delivering safe EV fast-charging power
conversion technology. Our solutions ensure thatenergy is available across the charging infrastructure
on demand and with zero interruption.

Smart meters are electronic meters thatmeasure, monitor, and wirelessly report backenergy consumption and diagnostic data to
the entire value chain in real time - a big stepup from the traditional mechanical meters that
only record electricity usage.

Revolutionizing Transportation with
Electric Vehicles
Electric Vehicles, powered by electric motors andrechargeable batteries, are pivotal in advancing
sustainable electrification by decreasing dependence on
fossil fuels and promoting renewable energy integration.
High upfront costs and limited charging infrastructure
deter many potential buyers and hinder EV adoption.
EV battery technology requires extended longevity,
enhanced energy storage capacity, and vehicle range,
and reduced charging times. Advancements in solidstate battery technology and vehicle-to-grid integration
will enhance EV practicality and encourage widespread
EV adoption.
As a leading technology provider of EV battery andpowertrain solutions, ADI innovations in battery
formation and test technologies reduce production
time and accelerate the transition to ethical andsustainable battery chemistries. ADI’s battery
management systems (BMS) provide real-time insights
into the battery lifecycle and with precise monitoring of
the battery pack’s cells– critical for achieving higher EV
range, longer battery life, safer EV operations, and thus
a lower total cost of EV ownership.
Collaboration between governments, OEMs, and energy
companies is needed to create policies that incentivize
research and development and foster a comprehensive
EV ecosystem. Tax credits and subsidies can bridge
the affordability gap, increased investment in charging
infrastructure can alleviate drivers’ range anxiety,and advancements in battery technology can improve
efficiency. All serve to incentivize consumers tochoose EVs over fossil fuel vehicles and accelerate thetransition to sustainable electrification.

To develop and expand charging networks, public andprivate investment is needed to encourage consumer
adoption of EVs and stimulate demand for further
infrastructure development.

Sustainable Circular Economy
The sustainable circular economy requires designing
products for durability and longevity, promoting resource
efficiency and recycling, and fostering collaboration
across value chains. Manufacturing with durability
and longevity in mind enables ease of repair andmaintenance to extend product lifecycles, reduce waste,
and minimize the need for frequent replacements.
Resource efficiency is essential for the sustainableproduction and recycling of EVs and renewable energy
systems. By reducing reliance on virgin resources, thecircular economy minimizes environmental impacts
associated with resource extraction and lowers
the carbon footprint of the overall electrification
process. Efficient reverse logistics systems are criticalfor product recovery, repair, refurbishment, andremanufacturing. For example, the return of EV batteries
ensures that critical materials like lithium and cobalt
are responsibly recycled and reused. By embracing thecircular economy, we can maximize resource utilization,
extend the lifespan of products, and support a long-term
resource-efficient electrification ecosystem.

Smart meters are enablers of the decentralized
and bi-directional clean energy grid. These
enable renewable energy sources, such as solar
and wind which are distributed geographically,
to work in sync with the transmission/
distribution infrastructure and thus ensure
seamless power availability. Smart meters
also empower energy consumers (residential,commercial, institutional) to play a central roleby selling excess stored energy back to the grid,such as from solar rooftops.
By enabling precise monitoring of the electricity
flowing into and out of the grid, accurate billing
can be secured, and a new energy marketplaceis nurtured, contributing to the growth ofrenewable energy installations. Thus, theexpansion of the digitized and the decentralizedenergy grid has a positive impact on increased
requirements of smart meters.
ADI’s solutions for smart meter, including
precision energy management, edge
processing, and wireless communication,
enable opportunities to efficiently scale therenewable energy grid. In 2022 alone, ADI
supplied almost 30 million units of smart
metering ICs. Once fully integrated into theecosystem, ADI believes that the wireless dataharnessing capabilities of smart meters havethe potential to enable digital augmentation andmulti-tiered energy management across theentire grid.

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ANALOG DEVICES 2022 ESG REPORT

Battery Reuse and Recycle for a Cleaner World
Battery reuse is repurposing batteries after their initialuse in EVs or energy storage systems for secondary
applications. Battery recycling includes recoveringvaluable materials from end-of-life batteries to produce
new batteries or other products. Both contributeto resource conservation, waste reduction, and thecircular economy. Reusing batteries extends theirlifespan, maximizes value and reduces the need for newbattery production. Recycling allows for recoveringvaluable materials such as lithium, cobalt, and nickel,
reducing reliance on newly mined resources.
The lack of standardized collection and recycling
infrastructure and the need for safe andenvironmentally responsible practices represent
significant challenges. Solutions include developing
efficient collection systems, establishing recycling
facilities capable of handling different battery
chemistries, advancing recycling technologies
and processes, and implementing regulations andstandards to ensure the safe handling of battery waste.
ADI’s battery management system can accurately
track the battery’s health across its lifetime and assigna resale value to the pack, thereby ensuring trust
between buyers and sellers. Batteries may then betreated as assets whereby one can recoup a portion of
the initial investment and potentially pass those savingson to vehicle or fleet owners.
Electrification plays a pivotal role in advancing
sustainability by integrating electric vehicles, renewableenergy generation, energy storage, and efficient
distribution and transmission networks. Through thewidespread adoption of EVs, electrification revolutionizes
transportation, reducing greenhouse gas emissions andpromoting a greener future. Electrification and renewableenergy generation ensure a more sustainable energy
mix, diminishing our reliance on fossil fuels. Energy
storage advancements and efficient distribution systems
facilitate the integration of renewable energy into thegrid, enhancing its reliability and stability. Electrification
stands as a crucial enabler, driving us toward a more
resilient, cleaner, and sustainable future.

ABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICESCOLLABORATING WITH OEMs
TO MAKE EVs BETTERPERFORMING, MORE RELIABLE,
AND ACCESSIBLE
ADI’s battery management system (BMS), part of its
ADI RechargeTM electrification portfolio accurately
monitors each battery cell in an electric vehicle. Itis critical for achieving maximum usable capacityof the battery pack, while ensuring safe and reliable
operations. ADI’s BMS is a complete system-level
solution, including hardware, software and an entirely
new wireless protocol stack that supports overthe-air software updates and achieves the highest
automotive cybersecurity qualification. Its precision
measurements capabilities enable safe, fastercharging, extended range and longer battery life.
16 OF THE TOP 20 GLOBAL OEMs UTILIZE
ADI’S BMSIn fact, ADI’s wireless BMS (wBMS) is the industry’s
first wireless battery management system forproduction EVs. wBMS eliminates the wire harness
for more flexible battery pack design. Removal of
the harness, and associated cables and connectors
also reduces the potential points of failure for thesystem. Furthermore, it aids in a faster, cost-saving
disassembly of the battery packs– providing aseamless path to battery second-life reuse and recycle
applications.
wBMS is helping simplify EV manufacturing by
providing OEMs with robotic manufacturing
capabilities that can improve production line
efficiency, battery pack assembly, and manufacturingcosts. This is enabling OEMs to scale EV fleets into
volume production across a wide range of vehicle
classes. The wBMS platform can autonomously run

deep battery test during manufacturing and vehicle
operations to detect the early signs of defects/failures,
helping to avoid costly recalls and servicing.
Today, ADI’s BMS is helping to redefine how the electric
mobility ecosystem can create and deliver value
by enabling more efficient EV manufacturing andoperations, increased lifetime value of the battery, safe
fast charging capabilities, and more – ultimately helping
improve the total cost of EV ownership.

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ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZON

EVs are destined to become ESS on wheels- andthus a vital and valuable grid stabilization tool.
Excess stored energy can be released back to thegrid—supporting the grid during peak hours as well
as avoiding the risk of overload and collapse.
Matching Supply with Demand: The battery is theenabling system for the EVs. Central to this is the
BMS that monitors and controls energy delivery
energy between the battery, the propulsion system,and the grid. Intelligent battery management
software can help coordinate energy flow between
the grid and the EV more efficiently.

APPENDICES

40

Harnessing Wireless Data to Enable
Information Ecosystems

CASE STUDY:
EVs AS MOBILE ENERGYSTORAGE SYSTEMS (ESS)The automotive industry is fast becoming oneof the most significant drivers of impact to theenergy grid. Currently, there are 16 million EVs on
the road, and over the next 5 years ADI anticipates
this will grow to more than 125 million EVs. EV
growth significantly impacts requirements for
how the grid is managed. The load is dynamic
in both time and space as EVs move across theinfrastructure. Therefore, not only must moretotal load be handled, it also has to be managed
in real time so that seamless energy is delivered
with zero interruption to all electrical devices on
the grid.

OUR COMMUNITY

16of the top 20 EV global OEMs
utilize ADI’s BMS

The combination of semiconductor, smart
algorithms, software, and communication
technologies deliver a BMS platform which cangenerate valuable battery insights. ADI is working
with OEMs, tier 1s, battery manufacturers, energy
utility companies, and other stakeholders to build
an information ecosystem from EV battery data
never before possible. ADI’s BMS is certified to thehighest automotive cybersecurity qualification(ISO 21434 CAL-4) to ensure tamper-proof, reliable
operations.
All of these innovations are transforming EVs into
mobile, connected energy nodes across the grid—
forging a new clean energy ecosystem.

ADI is building upon its leading precision sensing
technology and adding edge processing, software,and wireless connectivity to enable valuable data
insight platforms to drive better energy supply
management, predictive maintenance, energy
marketplaces, digital augmentation, and more. These
data insights are helping connect critical systems
across a wireless network at the grid-scale.
For example, ADI is working with OEMs, Tier-1s,
battery manufacturers, energy utility companies, andother stakeholders to build an advanced information
ecosystem based on EV battery lifecycle data. ADI’s
wireless BMS (wBMS) offers the industry its firstand only production battery wireless data solution
with secure intelligence at the edge and a softwaredefined platform that can be updated over the air. The
development of such information ecosystems also
contributes to the reliable convergence of electric
mobility and the clean energy grid. By leveraging realtime wireless data from the EV battery and the smart
meters at the charging infrastructure, vehicle to grid(V2G) energy flow, optimized charge times, and better
energy tariffs can be achieved, all while avoiding grid
overload.
This wireless data is also critical to realizing circular
economies throughout the clean energy grid, suchas battery reuse/recycle applications. From energy
meters to energy storage systems, wireless data has
the potential to deliver a smart, automated clean
energy grid and help build a path toward a healthierplanet.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZON

Connectivity
Connectivity has undergone significant changes overtime, evolving from mere communication between
computers to becoming an essential tool for work,
education, healthcare, wireless communications, andcommerce. Core technologies like 5G, satellites, andoptical networks enable people worldwide to connect,
actively participate in society, and access essential
services. For example, 56% of global companies allow
employees to work remotely or in a hybrid arrangement,
while 16% operate entirely remotely. Telehealth has
increased dramatically over the last few decades, with
the COVID-19 pandemic further driving the adoption ofdigital platforms. Nonetheless, challenges remain. In
education, access to high speed internet is a worldwide
issue, particularly for children in low-income school
districts, as inadequate access to technology can
prevent them from learning essential technology skills
and hinder their education.
Wireless connectivity has expanded significantly
and is critical in facilitating monitoring activities invarious fields, including healthcare, where it enables
the monitoring of vital signs, asset tracking in smart
buildings, weather, and seismic activities on Earthvia space satellites, and enhancing home security via
mobile devices. Wireless communications technology
further enables connectivity to sensors in remote andhard-to-access hazardous locations where deploying awired network would be impractical, inflexible, or costprohibitive.

A digital divide remains between those who have accessand connectivity to digital technology and those who donot. According to The Global Connectivity Report 2022,
roughly 3.7 billion people globally do not have Internet
access and “In the last 30 years, the number of internet
users surged from a few million to almost five billion.
Yet the potential remains untapped because one-thirdof humanity remains offline, and many users only enjoy
basic connectivity.” Today, there are more ways to deliver
broadband connectivity than ever before, from traditional
wired networks, cellular wireless infrastructure including
5G, and non-terrestrial networks, including low Earthorbit (LEO) satellites. Wireless options are expanding andcan be leveraged to increase connectedness globally andmay help to bridge the digital divide.
As wireless expands in capacity and reach, networks’carbon footprint expands as well. Even with nextgeneration technology that significantly reduces
the power needed to move data—exponential data
growth will outweigh the gains. An overall increase in
network power consumption is the result. As of 2021,
the telecommunications industry was responsible forabout 1.6% of total global carbon emissions, with thecellular network consuming 0.6% of global electricity
according to a BCG report. Furthermore, wirelessly
connected devices are estimated to increase to 150
billion worldwide by 2030.

By 2028, 5G is projected to accountfor 66% of all mobile data traffic.
- Ericsson Mobility Report (2023)

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ANALOG DEVICES 2022 ESG REPORT

5G technology has the potential to improve energy
efficiency and reduce operational and environmental
costs by increasing data transmission efficiency. As
older 2G and 3G systems are replaced by 5G, global
networks’ energy efficiency is expected to improveby 90%. Without the improvement in efficiency, thecellular network would consume more than 80% of theworld’s energy. However, millimeter wave 5G requiresa rethinking of base station architecture to reduceenergy consumption. 5G will play a critical role in smart
cities by aligning energy demand with intermittent
resources and real-time demand needs—optimizing
traffic conditions, as well as reducing congestion andemissions. 5G-enabled traffic management solutions
could result in a 40% reduction in vehicle wait times
and a 21% drop in emissions.
Without high-speed connectivity, individuals are ata socioeconomic disadvantage, unable to access job
opportunities, online services, and education. Today,a significant portion of the world’s population is on thewrong side of the digital divide. As of 2021, only 55% ofhouseholds have an internet connection and 1.5 billion
individuals residing in areas without high-speed mobile
data coverage according to the UN Deputy Secretary­

ABOUT ADIOUR SOLUTIONSADI HORIZON

General's report. The most significant segments without
access include people in rural and remote areas, women,
and the poor. Even in technologically rich developed
nations, approximately 1.75 billion citizens remain
unconnected, with 34% living in major urban centers as
stated in a Wireless Broadband Alliance report.
ADI’s technology portfolio and advancements toward
connectivity tackle some of these challenges – helping
customers help people bridge the digital divide via
wireless connectivity while supporting the ability toscale and drive energy efficiency. By leveraging system
expertise and deep radio frequency (RF) knowledge, ADI
is creating next-generation technology to drive energy
efficiency across the radio access network (RAN) edge
device and throughout the network stack. Throughinnovations in technology and solutions in energy
conservation, ADI is committed to ensuring connectivity(and specifically 5G) is scalable and sustainable for now
and well into the future. ADI’s wireless connectivity
technology provides high quality, reliable, and costefficient solutions for point-to-point communications
systems, private mobile radios, and wirelessinfrastructure. It is already in place to help customers
reduce their energy consumption. Here are two examples:

OUR COMMUNITYAPPENDICES

42• Smart scheduling enables low latency and optimizes
efficiency in operating power amplifiers (PAs), whilestill disabling the PA for a portion of the time.
• Microsleep activities automatically disable devices
when they are not in use. Servers and radios are put
to “sleep” periodically, whether it’s the whole system,
the board, or individual parts to save power.
Implementing smart scheduling achieves up to a
~27% reduction in power. When smart schedulingis combined with microsleep capabilities, energy
consumption drops as much as 45%.
For 5G technology, ADI is playing an essential role inthe success of these advanced networks. Over thelast year, ADI has been working with global network
operators to identify areas to save energy. ADI
also participates in the O-RAN ALLIANCE, which iscommitted to “evolving radio access networks with
its core principles being intelligence and openness. It
aims to drive the mobile industry toward an innovative,
multivendor, interoperable, and autonomous RAN
ecosystem, with reduced cost, improved performance,and greater agility.”

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONCASE STUDY: ENERGY EFFICIENCYAND THE ROLE OF DATA CENTERS
As data and the enablement of 5G continues togrow exponentially, so too do the global trends
that relate to data centers in general, and data
center workloads. According to IEA's 2022 report,over a six-year period (from 2015-2021) data center
workloads increased by 260%, and data center
energy use grew from 10-60%. And althoughmobile-access network energy consumption has
improved, there is still more work to be done aroundand within the wireless communications and cloudvectors to reduce the global carbon footprint. To
date, there have been very few regulations or policies
that specifically address the growing concern related
to data center footprints and energy emissions,though broader electricity decarbonization policies
or those around improved data collection, do exist.

While demand for cloud and data center services
also continue to grow due to increased use of
streaming services, IoT devices, and technology
like 5G or artificial intelligence, Analog Devices’innovative cloud technology is helping to improveenergy efficiency within the data center. ADI’s
comprehensive portfolio of power products
contributes to reducing global data center energy
consumption, and helps address the emerging needsof next-generation data center equipment, including
high performance and reliability power products
to meet some of today’s most demanding data
center applications.

When designing next-generation solutions, ADI views
the radio unit holistically, applying expertise to reduceenergy consumption and improve performance at thesystem level. The advanced transceivers, while they are
low power, improve total system efficiency by enabling
multiple energy-saving techniques, and integrating
advanced algorithms to improve efficiency of power
amplifiers (PAs). ADI’s Silent Switcher® power technology
helps improve signal-to-noise ratio, increasing signaltransmission without increasing energy footprint.
ADI’s products are also specifically designedwith flexibility in mind. ADI’s range of wirelesscommunications technology enables connectivity
to sensors in remote and hard-to-access hazardous
locations vs. having to deploy a wired network that
may not be as flexible. ADI offers advanced wireless

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subsystems and complete signal chain solutions
focused on reducing the design burden and speeding up
deployment.
ADI’s innovative wireless communications technology
is central to the infrastructure network that enables
5G. And within the network, radio units and theirarchitecture directly affect the energy efficiency ofthe network. ADI’s newest 5G transceiver, introduced
at the end of 2021, uses a technique called digital
predistortion (DPD) to significantly reduce the amountof energy needed by the radio unit. Massive multipleinput and multiple-output (MIMO) radio units, enabledin part by ADI’s transceivers, continue to more thandouble the network capacity and halve the energy perchannel compared to previous generations. Units of
ADI’s highly integrated, transceiver system on chip (TRx
SoC) with integrated digital front end (DFE) that are
already deployed also help improve energy efficiency,
and the energy saved to date could power roughly 4,600
U.S. homes.
ADI is creating awareness in the market, in our own
company, and worldwide about the challenges andsolutions for bridging the digital divide by developing
original content and articles designed to inform, inspire,and educate.
Throughout 2022, ADI encouraged and supported
ecosystem diversity, innovation, open-accessinfrastructure, and helped define standards with
the O-RAN ALLIANCE. “As massive MIMO radio
functionality grows in complexity, more specialized
silicon approaches are required,” said Alex Jinsung
Choi, Chairman of the O-RAN ALLIANCE, and SVPGroup Technology at Deutsche Telekom. “Reference
designs like the one created by ADI and Marvell help
catalyze the O-RAN market for 5G mMIMO radio units byenabling advanced configurations that meet network
operators’ high expectations for power efficiency andperformance.” ADI is also formulating a detailed plan tobe implemented in 2023 that will outline how to further
engage on this topic and educate the community.

ANALOG DEVICES 2022 ESG REPORT

Satellite Connectivity Empowers Us to Achieve
Futures that Were Previously Only Possibilities
The need for ubiquitous connectivity is driving the market
for satellite communications. The commercializationof space, like the automotive revolution a century ago,
is underway. The space industry is transitioning fromlow volume, government-funded, one-off programs
to large-scale commercial endeavors. New players,
applications, and business models enable a dynamic
ecosystem that promises to solve some of humanity’s
toughest challenges. The consistent decrease in the costof payload launch has further provided a necessary boost
to this market. According to a 2020 McKinsey analysis,
approximately 50,000 active satellites will be in play in thenext ten years if proposed plans materialize.
• Earth Observation: Continuous monitoring and realtime communications back to Earth enable earlier
detection of severe weather and seismic activity
preventing negative impact on agriculture, wildlife,and humanity.
• Ubiquitous Connectivity: Intelligently optimized
and low latency communication links provide global
internet access and improved performance acrossapplications such as autonomous driving, broadband
internet, and machine-to-machine connectivity.
This will grant millions access to previously
unobtainable information.
ADI's breakthroughs are empowering a new frontier of
economic opportunity by enabling software-definedsatellites, ubiquitous connectivity, and continuous
monitoring solutions to meet the demands of anincreasingly connected world. ADI beam steering andbeamforming solutions are powered by ADI innovations
in a phased array, RF and microwave technology,
and are enabling the availability of high-speed datacapacity on demand, along with spectrum optimizationto accommodate more application on networks. By
delivering standardized solutions across every type ofsatellite requirement, ADI is lowering our customers’
development cost and barriers to innovation while
reducing failure and accelerating time to market.

ABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITY

CASE STUDY: THE TELECOM INFRAPROJECT (TIP)
BUILDING A GLOBAL MARKETPLACE FOR OPENRAN SOLUTIONS

In a quest for increased competition, lower costs,
and more choices—TIP is helping to build a global
marketplace for Open RAN solutions. The TIP
community, a global network of operators, network
vendors, research organizations, and universities,
is working to accelerate the development of open,
interoperable, standards-based technology solutions.
Cellular networks need more capacity and intelligenceto support the metaverse and enhanced reality
applications for consumers and businesses. Massive
MIMO (mMIMO) can deliver more capacity, providing
the capability to deliver rich experiences from a single
5G radio. However, no mMIMO whitebox solutions areavailable with extensive end-to-end capabilities.
To meet the demand, TIP is collaborating with Inteland ADI to enable the metaverse with O-RAN massive
MIMO (mMIMO) solutions, as part of the TIP Open RAN
project group. The collaboration will result in a 5G
mMIMO Open RAN Radio Unit (O-RU) whitebox, which
will leverage Intel’s advanced beamforming technology
and the ADI RadioVerse® system on a chip (SoC)
software-defined transceiver.
MNOs, OEMs, and ODMs can use the O-RU whitebox
to leverage the O-RAN ecosystem and extensive IP
library to develop bespoke O-RUs and benefit fromreduced time to market. The whitebox helps mitigate
vendor lock-in by offering a wider playing field ofsystem integrators and operators more options tomeet specific requirements.

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ANALOG DEVICES 2022 ESG REPORT

Human Health
Human health is often thought of as healthy vs. sick,however, human health has many dimensions. Human
health does not simply mean the absence of disease orillness. It is a complex combination of physical, mental,
emotional, and social health factors that requires using
a holistic approach.
Human health can be looked at on the individual level,
but also as outcomes of a group of individuals or a
population. Achieving personal and societal healthrequires innovative technology to help enable bettercare of the whole person and proactive monitoring
rather than reactive treatment. This technology cantake many forms, including:• Medical imaging for safe and accurate diagnoses• Medical life sciences and instrumentation for medical
equipment that is used for diagnosing, treating, andsupporting patients with chronic disease• Vital signs monitoring for portable, wearable, andbedside continuous monitoring
Leveraging ADI comprehensive technology portfolio
and domain expertise enables our customers to create
solutions that positively impact people’s lives andhealth.

Solutions that Improve Everyday Life
The options for how people manage their health only
continue to grow. Adoption of new technology demands
that it not just be useful for the consumer, but that it
makes care better – whether making diagnoses quicker
and more accurate or treatment more tailored to theindividual. Contextually aware, advanced sensing, andintelligently interpreting technology can make thedifference between a product that’s merely new, andsomething that is life-changing.
New capabilities and a shifting industry culture haveopened the door for better patient care throughtechnology, and ADI’s products enable the technology thatis improving human health. Home-based care with ADI

ABOUT ADIOUR SOLUTIONSADI HORIZON

products is making itself right at home in the healthcare
space. This technology not only provides clinical-grade
data to the physician for more informed decision-making,but is also comfortable and seamless for the patient. The
result is better patient comfort and care, keeping healthypeople healthy and healing those that are sick.
ADI also uses technology as a catalyst for change—changing the way we live and manage our health for the
better. From creating long-lasting, portable technology
in small form factors that enable clinical-grade sensing
anytime and anywhere, to providing next-gen diagnoses
technology for quick and accurate treatment.

Healthcare Market Trends
Proper healthcare is critical to any prospering society,but healthcare innovation has often lagged far behind
other industries. The pandemic forced the healthcare
industry to reform—fast. Providers were required to find
new ways to connect with their patients, and patients
realized taking control of their own health was more
important than ever.
In addition to the pressure from the pandemic, risingcosts and an aging population are driving disruption.
With the aging population, expectations are that
healthcare spend will outpace GDP going forward. The
US spent ~$4T on healthcare in 2021 (or ~20% of GDP)
compared to less than 15% of GDP 20 years ago1.
On average, over 2021 to 2030, national healthexpenditures (NHE) and gross domestic product (GDP)are both projected to grow 5.1 percent per year2. The
majority of these healthcare dollars are spent on theelderly, which is a growing demographic group. OverOUR COMMUNITYAPPENDICES

45

the next three decades, the global number of aging
population is projected to more than double, reachingover 1.5 billion in 20503.
Additionally, chronic illness has become a hugeproblem. Ninety percent of healthcare costs areassociated with chronic disease and illness, and 6
out of 10 Americans are currently living with chronic
conditions.
And this increased spend does not necessarily equate
to better patient outcomes. To enhance outcomes,
healthcare must be more accessible, affordable, andpatient-centric. Nearly half of the world’s population (3.5billion people) lack access to the health services theyneed. This can be addressed, in part, with decentralized,
more mobile healthcare, which will require a shift intechnology. Moving from reactive to proactive carerequires decentralized solutions that fit into existing
workflows, are accepted by physicians, and change thetrajectory of treatment to yield better care.
Currently, providers are overloaded with data, anddecisions are based on one moment in time. The
industry needs technology to move from large, complex,
and centralized, to small, wearable, and decentralized.
The transformation will enable safe, streamlined
data collection to enhance care team workflows andeffectively make personalized, preventative medicine
scalable to improve outcomes.
1

CMS (2022), National Health Expenditure Accounts

2

CMS (2022), National Health Expenditure Projections

3

UN (2019), World Population Ageing

ANALOG DEVICES 2022 ESG REPORT

Ways in Which ADI Technology
Is a Differentiator
ADI solutions are shaping the future of healthcare
and enabling greater, more equitable access. We
are at the forefront of an ecosystem that is driving
healthcare forward to deliver life-changing solutions
for all. ADI technology captures clinical-grade data at
the Intelligent Edge and turns it into simple, trusted
insights that drive better healthcare outcomes. Ourinnovative solutions are found in everything fromprecision instruments that measure vital signs, tosuperior imaging and ultrasound applications, towearables that aid consumers in disease management
and wellness.

Medical Imaging
Medical imaging is an integral part of international
healthcare systems today, and it includes, among
others, CT, MRI, X-ray, and ultrasound. However, it
imposes demanding requirements on the electronic
design for the safety of humans and accurate
diagnoses. Low power, low noise, high dynamic range,and high resolution performance at low cost and in acompact package are common trends dictated by therequirements of modern medical-imaging systems.
Today, ADI has the #1 market share in CT and digital
X-ray. ADI’s complete set of high-performance building
blocks coupled with domain intelligence and deep
customer engagement, results in solutions that enableboth patient and customer benefits. The patient
benefits from reduced radiation dosage, while thephysician is equipped with the highest quality images
for accurate clinical decision-making. The customer
benefits from lower cost, smaller footprint, improved
performance, and accelerated time to market.

ABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITY

CASE STUDY: OREGON HEALTH AND
SCIENCE UNIVERSITY (OHSU)
ADDRESSING THE MENTAL HEALTH CRISISIN TEENS
OHSU researchers and ADI engineers developed
technology to help address the rising mental
health crisis in teens. “Adolescents with suicidality
are presenting to emergency departments (ED)in unprecedented numbers across the country,”
said Dr. David Sheridan, Associate Professorof Emergency Medicine in the OHSU School of
Medicine. Almost half of adolescent patients who
previously have been seen in the ED for depression
or suicidality will have multiple ED visits for thesecrises, which creates a tremendous need tohelp these patients. Part of the problem is thatteenagers often don’t recognize their worsening
suicidal symptoms or don’t want to address them
until it’s too late to implement the preventive
measures they may have developed with theirmental health providers.
OHSU researchers teamed up with ADI to use
smartwatch technology to collect advanced
physiologic data that offers an insight into potential
physiologic metrics that potentially can be used
to help adolescents early on. The ADI VSM watch
provides both precise measurements as well as
all the raw data that can be used by researchers
to develop advanced analytic methods—giving it adistinct advantage over out-of-the-box, consumerlevel watches that alert the user to higher-levelaverages of heart rate, sleep, and physical activity.
If the team is successful, the OHSU-ADI smartwatch
will be one of the first evidence-based wearable
technologies to monitor suicidality.

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ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZON

Medical Life Sciences and Instrumentation

Vital Signs Monitoring

Medical equipment such as robotic surgery, diagnostics,
and defibrillators is used for diagnosing, treating, andsupporting patients with chronic disease. One emerging
area within medical equipment includes point-of-care(PoC) diagnostics technology. Historically, testingfor contaminants and infectious diseases has been
manual and cumbersome. This technology enables
decentralized testing for infectious diseases, STDs,
and more. The ability to perform rapid tests outside theclinical laboratory means PoC solutions can provide afaster time to diagnosis, an earlier start to treatment,
and a faster recovery for patients.

The healthcare monitoring market faces many challenges,
both in and outside of the hospital. Ninety percent ofpeople in hospital wards go unmonitored. Additionally,
consumer wearables for at-home use lack functionality
and high performance. Enter ADI’s vital signs monitoring
solutions with leading share positions in clinical grade andwellness wearables. ADI’s more complete solutions deliver
breakthrough innovation in wireless VSM monitoring for
hospitals, continuous glucose monitoring, and clinicalgrade VSM wearables.

PoC diagnostics innovators are working to build
technologies that can identify more than one type of
disease—for example, testing for both the flu and COVID
on the same device. Currently, most disease testing isdone one by one, meaning sometimes many tests haveto be taken before a diagnosis is reached. This can bealleviated by combining multiple testing modalities intoa single chip. A multipurpose PoC solution requires
a companion electronic device that is accurate andeasily upgradable when new disease variants emerge,or testing menus expand. ADI is uniquely positioned
with a portfolio of both electrochemical and optical
diagnostic solutions, providing a measurement engine
to complement a range of biosensors and chemistries
while enabling a platform that can be upgradedusing software.

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47

Outside of the hospital, remote monitoring has risen
quickly due, in part, to the pandemic. During the
pandemic, it wasn’t safe to have at-risk (COVID negative)
patient populations, like those with heart failure, going
into clinics full of COVID-positive patients. Remotemonitoring enabled these populations to be cared foroutside of the risky acute setting and in the comfort oftheir own home.

ANALOG DEVICES 2022 ESG REPORT

Security and Safety
New digital healthcare solutions are giving humanity
the ability to collect large amounts of data. More data inhealthcare settings means that doctors can make more
informed, personalized care decisions for patients. As
decentralized care becomes more pervasive in healthcare,ensuring data can be captured securely at the Intelligent
Edge, in any environment is critical. However, collecting
and analyzing the volume of data available to physicians
comes with efficiency and security challenges. Digitizedsolutions must replicate the sensitivity and specificity
of measurements taken in a doctor’s office, while also
storing and transmitting that data securely.
Because these healthcare solutions are collecting andstoring large amounts of highly sensitive and personallyidentifying information patient data, they are especially atrisk for cybersecurity and malware attacks. In healthcare,data privacy not only becomes a technical issue, but alsoa regulatory and patient safety issue. As the industry
continues to innovate wearable devices and other new
technology, and clinicians move toward a future ofpatient-centric care, it is critical that data is protected
and that patients have control over their own data. Digitalsolutions must be developed with privacy and security as
key elements.
ADI understands the importance of cybersecurity, data
privacy, and protection in healthcare technology, so we
put great focus on our efforts to maintain our customers’
trust and protect the security of their data. Our products
are not only improving human health and outcomes, but
are also designed to help support robust data privacy andsecurity controls.

ABOUT ADIOUR SOLUTIONSADI HORIZON

The security and safety of humans is also critical in
healthcare. By mimicking clinical data in the home setting,clinicians can monitor their patients more closely andmake decisions to prevent diseases before they happen.
Proactive monitoring and intervention in this way canhelp minimize unnecessary tests and procedures duringhospital visits. When tests are required, our technology
can help make them safer. The technology behindcommon tests like X-rays and CT scans is becoming moresensitive and accurate with precision sensors and digitalprocessors, resulting in higher resolution images andreduced scan times, exposing patients to less radiation,
and allowing physicians to make more accurate diagnoses.
New technology enhances quality of life and empowers
physicians to help patients better manage their disease
and potentially even slow its progression. Vital signs
monitoring is a prime example, as it has extended beyond
the boundaries of medical practice in hospitals andclinics and into people’s homes. Innovations in sensors
now enable vital signs to be measured with clinical-grade
accuracy wherever a person is being monitored. This hasa clear environmental impact as patients are traveling lessfor care that can be accomplished from the comfort oftheir own home.
In addition to the environmental impact of lesstransportation to and from hospitals and medical facilities,
the emergence of remote patient monitoring can create
lifestyle benefits. Remote solutions fit better into peoples’
daily lives and cause less disruption than traditional brickand-mortar care. Continuous monitoring allows physicians
to intervene proactively rather than reactively.

OUR COMMUNITYAPPENDICESCASE STUDY:VITRUVIAN SHIELDVITAL SIGNS MONITORING FOR PEOPLE
WITH EPILEPSY

Thanks to ADI VSM watch and collaboration
with Vitruvian Shield, people with epilepsy cancontinually monitor their health and feel greater
peace of mind by simply glancing at their wrist
or checking the accompanying app for theirclinical-grade, vital signs monitoring data. For
Vitruvian Shield, the ADI VSM watch is the ideal
platform for product development, as it provides
synchronized data outputs across the complete
range of vital signs parameters. ADI VSM watch
and Vitruvian Shield’s algorithms create acomplete, end-to-end platform to identify early
key indicators of epilepsy seizure detection. By
having a patient’s vital signals monitored 24/7
and a comprehensive display of their collected
data, healthcare professionals now have keen
insight they can use to adjust or change thecourse of treatment to better fit a patient’s
response—all without ever needing to come toa doctor’s office. Like many other innovations inremote patient monitoring, the Vitruvian Shield
VSM watch holds out the promise of a new life forpatients—in this case, people with epilepsy.

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ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZON

Green Revenue and R&D
MAPPING TO ENVIRONMENTALLY SUSTAINABLE ENDUSE APPLICATIONSAt present, ADI considers green activity to encompass
financial revenues and/or investments tied to end
products that benefit the environment. This includes
a broad range of impact from an environmental
indicator perspective, including climate (emissions),
water, and waste. We believe that mapping ourtechnology to potential sustainable use cases aswell as measuring our level of investment, are key forunderstanding the role ADI plays in helping the world in
the green transition.
Green revenue represented about 30% of total revenue
in FY22, increasing approximately 34% from FY21.
Roughly 30% of our R&D was green, level with our FY2021
green R&D. Technology with potential sustainable use
applications is a growing area of focus for ADI, and weanticipate our level of green activity will increase overtime. For more on our approach, see here.
Increasingly, ADI sees investor and regulatory focus
on tracking economic activity that can be classified
as “green,” “environmental,” or “sustainable.” Of noteis the EU Taxonomy Regulation, which entered into
force on July 12, 2020. It establishes the basis for the
EU Taxonomy and provides a set of four overarchingconditions that an economic activity must meet toqualify as environmentally sustainable. Under the1

Based on FY2022 revenue

2

Based on FY2022 R&D spend

Taxonomy Regulation, the EU Commission has or willsoon publish a list of environmentally sustainable
activities and define technical screening criteria foreach of these objectives through delegated acts. ADI is
not currently subject to the EU Taxonomy Regulation,
but work is underway to understand the applicability of
the EU Taxonomy to ADI.

~30%

of revenue¹~30%
of R&D²

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50

Our Potential Future Impact
In its 57-year legacy, ADI has anchored itself on thecreation of positive economic and social impact. Thisis reflected in our corporate commitment to achieving
net zero across our value chain by 2050 or sooner.
While optimizing our and our suppliers’ operations is an
important step to take, the bigger opportunity comes fromthe impact of our products. We thus take an innovative
approach to climate change, examining and focusing on
the solutions our customers and the world need.
The immensity of the climate crisis means we seek
to partner with like-minded customers to launchand scale solutions that will reduce greenhouse gas
emissions. We know there will be no single “goldenscrew,” and we recognize the opportunity to leverage
our leading position across markets to contribute to thedecarbonization of multiple sectors.

Semiconductors Empower a
Decarbonized Economy
Solar and wind are now the least expensive sources ofenergy, making electrification-of-everything a practicalpathway to decarbonization. ADI’s technologies areenabling many impactful electrification-related
end products and systems. We recognize that
semiconductors are not the end products themselves
but, in many cases, the end product would not be
viable without semiconductors. An example is electricvehicles (EVs), which rely on lithium-ion batteries
and would not be viable without battery management
technology constantly assessing the health of eachcell, balancing the cells within the battery pack, andensuring that the battery is never under- or over­charged. Battery management—a technology in which
ADI is a leader—is thus an enabling technology for EVs.
We view attribution of the fraction of eliminatedemissions to a particular technology as unfruitful.

Widespread EV adoption requires advances inbattery management hardware and algorithms that
sit alongside advances on other technological fronts,
including battery chemistry and efficient, low-cost, andreliable drivetrains.

Connecting to the Five Grand Challenges
In 2021, Bill Gates introduced the concept of Five
Grand Challenges that account for the main sourcesof today’s GHG emissions: manufacturing (making
things), electricity (plugging in), agriculture (growing
things), transportation (getting around), and buildings(keeping warm and cool). More than one solution isneeded to reduce global GHG emissions from thecurrent level of 51Gt (gigatons or billion tons) a year to
net zero. We sought to connect the enabling impactof semiconductors within this frame. In each grandchallenge, we identified representative solutions
where specific semiconductor content could play asignificant role. Our assessment resulted in two primarycategories of end solutions—those that either displace
traditional, GHG-generating end technology, or thosethat make the technology more energy efficient.
Examples of displacing technologies include EVs, theenergy transition, and renewable energy-powered
electrolyzers. Examples of end products that are moreenergy efficient include industrial motors, 5G wirelesscommunications, and connected HVAC systems.
ADI’s potential carbon impact is thus not a productcarbon footprint comparison or life-cycle assessment,
though we acknowledge that additional study is neededto account for end products’ full life cycle. Instead,our potential carbon impact provides a different andcomplementary perspective to corporate inventory
accounting on ADI’s emissions reduction efforts; it also
does not alter our corporate GHG inventories. This is aforward-looking assessment of the potential impact of
100% adoption of “greener” end solutions.

We intend to use this impact valuation to open dialogue
with customers and ecosystem partners to understandhow ADI can share in endeavors to decarbonize sectors
rapidly and meaningfully.
If end applications enabled in part by ADI’s technology
across the five grand challenges were to be fully scaled
and adopted, society could realize ~26 Gt (gigatons orbillion tons) fewer GHG emissions.

An Opportunity to Eliminate and Reduce Emissions~51GT
What needs todrop to zero

ELIMINATE
What ADI
solutionscan potentiallyenable**by displacing
GHG-generating tech+

REDUCEby improving
energy efficiency

ADI analysis based on internal calculations assuming sustainable
end applications are fully adopted and scaled. Additional study isneeded to account for end products’ full life cycle. Source of 51GT
is from Bill Gates’ book, How to Avoid a Climate Disaster.

If end applications enabled in part by technology like
ADI’s were fully adopted and scaled, roughly half ofemissions could be eliminated or reduced.
The time is now to act on the climate, and ADI is eager
to partner with customers to enable large-scale
emissions impact.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

51

ADI Horizon

Our programs and operations are
helping to promote ESG practices
both within the company and acrossthe broader ecosystem. By focusing
on sustainability, diversity, and social
responsibility, ADI is working to createa more sustainable and equitable future
for all.
IN THIS SECTION:
52

Risk Management

55

Business Ethics

58

Human Rights

66

Public Policy

68

Environmental Sustainability
69

Progress on Environmental Goals

70

Climate and Energy

73

Water

75

Waste

76

Biodiversity

77

Sustainable Financing

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Risk Management
Enterprise Risk Management
ADI has adopted the Committee ofSponsoring Organizations’ (COSO)
framework for enterprise risk management.
This framework employs a six-phaseapproach: risk identification, risk
categorization, risk quantification, risk
control and response, risk and control
monitoring, and risk reporting andcommunication. With this framework wehave categorized the organization’s risks
into four categories (strategic, operational,
compliance, and financial) and quantified
their impact using four scales (financial
impact, likelihood of occurrence, velocity,and difficulty of recovery).
Our enterprise risk program aims to support informed
organizational decision-making for strategic planning,tactical execution, budgeting, and risk oversight that
optimizes risk outcomes and protects stakeholder
value. The ERM function enables the organization to
make risk management more efficient and effective
by providing and maintaining a risk management
framework and developing appropriate mitigation
strategies.

We also believe that a strong ERM program enhances
corporate governance, helps to define management’s
leadership and commitment toward openness, honesty,
integrity, and ethical behavior, and reinforces the toneat the top.
We utilize both a top-down and a bottom-up approach
to risk management wherein day-to-day risk
management activities are managed by the business
units and functions and reported up to the Board of
Directors and Executive Leadership Team (ELT) and thehigh-level strategic goals and priorities are cascaded
down to the business by the ELT.
We have continued our investment in enterpriserisk management through the recent hiring of a
dedicated ERM program manager. In this role, theERM program manager will create a risk center of
excellence that will be a resource for risk owners andchampions to continuously improve their day-to-day
risk management activities. Additionally, the program
manager will function as a conduit of risk information
between management and the board.

CLIMATE SCENARIO PLANNING

As part of ADI’s risk management process, wewill undertake climate scenario planning in 2023aligned with the Task Force on Climate Related
Financial Disclosures (TCFD). This will help thecompany identify both risks and opportunities
across our organization, facilities, and value
chain. ADI believes that scenario planning is abest practice to understand what guideposts
we need to monitor, as well as what actions
can be taken to prepare for a wide range ofpotential issues. Currently, ADI assesses thephysical risks of our facilities and operations
using an array of inputs, including FM Global’s
Risk Reports. These detailed reports, coupledwith FM’s standard risk reviews and facility
assessments, provide a roadmap by facility ofreal-world potential impacts and actions which
can be undertaken to mitigate them.

52

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53

ERM Risk Committee
Representative Risk
FunctionsOperational risk
management
experts reporting to
the executive risk
committee help support
board committees
and business units
on the status of risk
management plans.

Governance(Oversight)

Board of Directors, Audit Committee, Chief Executive Officer

Executive Risk
Committee• SVP, Chief Legal Officer, Chief Risk Officer, andSecretary• SVP, Product Line Manager• EVP and President of Business Units• EVP, Finance and Chief Financial Officer• EVP, Global Operations and Technology• EVP, Chief Customer Officer• SVP, Chief Technology Officer• SVP, Chief People Officer

Business
Units andEnterprise
Functions(ERM
Committee)

Oversight

The Board, the appropriate
committees, and CEO provide
oversight and will haveappropriate transparency
and visibility into the key riskfunctions, ERM issues andrisks related to the business.

• Automotive and Energy, Communications, andAerospace Group• Software Engineering and Solutions• Consumer and Cloud Infrastructure• Enterprise Functions* (Enterprise functions include:
Customer Office, Technology Office, Legal and Risk
Oversight, HR, IMO, Finance)• Digital Healthcare• Industrial and Multi-Markets

Executive Risk Committee

Establishes and cascades
strategic goals and targets,to ensure enterprisealignment. Responsible fordesigning, implementing, andmaintaining an effective risk
program.

• Global Operations

Compliance and Risk

Business Unit and Enterprise
Functions
Responsible for operational
management, businessperformance, andmanagement of events orrisks to the business.

ComplianceInternal Audit

Sets the governancestructure for information
sharing and coordinatingcompliance-related risks
across the company.

Facilitates alignment with
control monitoring and risk
mitigation efforts to support
the ERM program.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

54“Our resilience plan includes all our businesses, activities, and locations.
These efforts are supported by systems, policies, and procedures
designed to mitigate risk, protect the safety of our employees, andpreserve the trust of our customers.”

Business Resilience Management
Business resilience involves emergency, crisis, continuity
planning, as well as crisis communication planning, toguarantee that our operations remain strong in unforeseen
situations like cyberattacks, natural disasters, extreme
weather conditions, geopolitical problems, supply chaininterruptions, or any other disruptions to our business.

testing exercises and auditing of our resilience plans andprocesses, in addition to incorporating learnings from realworld experiences and inputs from stakeholders worldwide.

We prepare and plan for potential interruptions to minimize
their impact on our business operations. In the event of
an issue, we engage a diverse set of internal stakeholders,
including human resources, legal, legal and risk, environment,
health and safety, global operations, procurement,
communications, and security, as appropriate. Our resilienceplan includes all our businesses, activities, and locations.
These efforts are supported by systems, policies andprocedures designed to mitigate risk, protect the safety of
our employees, and preserve the trust of our customers. Our
teams proactively monitor and maintain their readiness to
identify, assess, and respond to potential events.
To support our resilience and monitoring efforts, we
subscribe to an emergency alert system that notifies us
if there are severe weather, natural disaster, geopoliticalevents, or other events in areas that could impact ouroperations so any needed response can begin quickly.
Teams receive emails whenever events happen, whichallows for a quick assessment and activation of theapplicable resilience plans and procedures. We reach out
to manufacturing sites and vendors in the proximity of an
emergency and if there may be an impact to our supply
continuity, we take swift mitigation actions.
We are committed to continually enhancing our businessresilience programs based on changing global conditions.
In the past year, we focused on strengthening ourprogram through cross-functional, global coordination.
To continuously improve our program, we will conduct“ADI is committed toscaling the business andempowering employees togrow their careers. At ADI, I
am continuously learning andgiven opportunities to help
others realize their potential.”
WINNIE E. - Principal Specialist, Talent
Development, Philippines

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Business Ethics
At ADI, integrity defines our culture. It isfoundational to all we do with ourcustomers, our communities and eachother. We are committed to continuously
driving the importance of ethics andcompliance at ADI.
ADI is actively focused on enhancing our policies,
practices, and trainings to deepen our commitment
to integrity and uphold the highest ethical standards
in the way we do business. ADI’s Code of BusinessConduct and Ethics (the “Code”) reflects our continued
commitment to integrity and outlines ADI’s approach to
conducting business ethically, in compliance with thelaw, and in a way that reflects our deeper values. We
review and update our Code annually and are committed
to promoting awareness of ethics and complianceissues. Our Code provides a blueprint to guide our day­to-day decision making at ADI. Everyone who works
for ADI and its subsidiaries, including the members ofBoard of Directors, all executive officers, other seniorfinancial, business, and technical management, andevery employee as well as all independent contractors,
consultants, and agents who provide services to ADI is
expected to comply with our Code. We also expect ourcustomers, suppliers, third-party sales representatives,
distributors, consultants, and others engaged inbusiness activities with ADI to comply with the law
during their relationship with ADI, all countries andregions in which we do business.

Bribery and corruption are simply not acceptable at
ADI. We comply with all applicable anticorruption andantibribery laws in all countries where we do business.
Our Antibribery and Corruption Policy outlined in our
Code explicitly prohibits offering, giving, or receiving
bribes in connection with work for ADI at any time forany reason. ADI’s global employee population receives
Antibribery and Corruption training to ensure their
deep understanding of anticorruption and antibribery
laws, gifts and entertainment policy, and the criticalrole of accurate recordkeeping. We focus on educationand prevention to ensure that our policies are followedby our employees and business partners, and thatconcerns are easily reported and quickly addressed.

“At ADI, we have an
uncompromisingcommitment to ethics andintegrity, and this drives all ofour business decisions.”
VINCENT ROCHE, Chief Executive Officer andChairman of the Board

55

ANALOG DEVICES 2022 ESG REPORTWe also expect all ADI personnel to act and makebusiness decisions in the best interests of ADI andrefrain from engaging in activities that create aconflict of interest or an appearance of a conflict.
ADI implemented a formal conflict of interest checkprocess across the organization to proactively identify
potential issues. The conflict-of-interest disclosure
form is provided at onboarding and during our annual
Conflict of Interest training. In general, we avoid
any activity or personal interest in a transaction or
relationship that creates or appears to create a conflict
between our own private interests and ADI’s interests,
or that might impair our ability to perform our ADI
duties and responsibilities honestly, objectively, andeffectively. We never use ADI’s property, informationor business opportunities for our own personal gain or
benefit, or that of anyone else.

ABOUT ADIOUR SOLUTIONSADI HORIZONAt ADI, we are committed to driving a culture ofinclusion that values and leverages each employee’s
uniqueness and perspectives. We maintain a respectful
work environment that is free from harassment anddiscrimination, and we strive to provide a professional
environment that promotes respect for every individual.
We regularly communicate with all employees about ourcommitment to ethics, integrity and compliance, ourpolicy updates and resources, training, and accessibility
enhancements, and encourage them to speak up about
any suspected or actual violation of law, our Code orpolicies or unethical conduct.

OUR COMMUNITYAPPENDICESADI policies on strategic corporate
responsibility issues:• Code of Business Conduct and Ethics• Code of Corporate Social Responsibility• Anti-Slavery & Human Trafficking Statement• EEO and Affirmative Action Policy• Global Tax Policy• Information Security Statement• Political Contributions and Expenditures• Privacy Policy• Anti-Harassment Policy• Supplier Ethics Commitment
Documents are available at:https://investor.analog.com/governance/
governance-documents andCorporate Policies | Analog Devices.

56

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZON

Our global trainings are translated into local languages
in key locations.
At ADI, it is everyone’s responsibility to uphold ourcompany values, foster an ethical culture and build
upon the foundation of trust we have created. All
employees and contingent workers are expected tounderstand and comply with our Code of BusinessConduct and Ethics, the Code of Corporate Social
Responsibilities and other policies and complete ethics
and compliance trainings when assigned. We are
actively monitoring compliance training performance toa 100% completion rate.

APPENDICES

57

ADI maintains a process to ensure that reports
are promptly reviewed, and corrective actions are
implemented, if appropriate. The Chief Legal and
Risk Officer and Ethics and Compliance team provide
oversight of all global investigations to ensure matters
are handled fairly, consistently, and transparently.
Additionally, the Board of Directors provides oversighton investigation processes, compliance trends andmatters, as appropriate.

Raising Awareness andTraining
We are dedicated to raising awareness of ethics andcompliance topics. We have developed a centralized
and comprehensive compliance training plan forour global workforce and have expanded our ethics
and compliance training program worldwide. All ADI
employees receive ethics and compliance courses that
include region-specific and role-based assignments
and cover topics related to conflict of interest, antibribery and corruption, insider trading, workplaceharassment prevention, data privacy and security,
antitrust and trade compliance, intellectual property,
and confidentiality, among others. Depending on theirrole at ADI, certain employees receive additional indepth training assignments covering topics related tohealthcare compliance and government contracting.
Training completion includes review and certification ofadherence to ADI’s Code, the Code of Corporate Social
Responsibility, and other applicable policies.

OUR COMMUNITY

Whistleblower Program,
Reports, Investigations, andCorrective Measures
At ADI, we are committed to creating an environment
where every employee is respected and valued. We
have an open-door policy and rely on our employees
to speak up to raise concerns. We maintain multiple
channels for employees and others to report concerns,
including reporting anonymously. Anyone canreport concerns through ADI’s Ethics Hotline (online
at analog.ethicspoint.com, by phone, or throughmobile access). ADI’s Ethics Hotline is operated byan independent third party and allows anonymous
reporting where permitted by applicable law.
Employees can request a translator for reporting byphone, online, and Global Mobile Access Reporting isavailable in local languages for key locations. Additional
channels for employees’ reporting include theirsupervisor, Human Resources, ADI’s Chief Legal Officer,and ADI’s Ethics and Compliance team through its
Ethics Email Box.

ADI does not tolerate retaliation against anyone who ingood faith makes a report or assists ADI in identifying
suspected violation of the law, ADI’s Code, Code ofCorporate Social Responsibility or other company
policies or procedures, questions ongoing or proposed
conduct, or participates in an internal investigation.
ADI trains its employees on its anti-retaliation policy
and takes proactive steps to prevent retaliation.
Additionally, ADI requires its suppliers to prohibit
retaliation for good faith reporting or participation inwhistleblower investigation processes.
WAYS TO SUBMIT COMPLIANCE REPORTS• Supervisors• HR Department• ADI’s Chief Legal Officer
ADI’s Toll-Free Ethics Hotline

analog.ethicspoint.com

Scan for Global Mobile Access

ADI’s Ethics Email Box

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

58

Human Rights
Respect for human rights is rooted in ourvalues and applies wherever we do business.
These principles apply to all employees andcontingent workers, products, and services,
as well as our business relationships,
including our supply chains. They also alignwith multiple frameworks including the UN
Guiding Principles on Business and Human
Rights, ILO Declaration on Fundamental
Principles and Rights at Work, and UN
Universal Declaration of Human Rights.
We have embedded our approach and programs
associated with our operations, supply chain, andproducts in the ADI’s policies and procedures.
ADI policies outline human rights requirements for all
global workers. ADI Codes expressly represent that ADI
does not use forced, involuntary or child labor in any of ourfacilities and explicitly prohibit the use of child and forcedlabor in its supply chain. The Labor and Human Rights
section of our Code of Corporate Social Responsibility(CCSR) specifically addresses humane treatment andprohibition of child and involuntary labor. In addition, a
key strategy for protecting human rights at ADI is ouractive participation in the Responsible Business Alliance(RBA), the world’s largest industry coalition dedicated toelectronics supply chain responsibility and its Responsible
Labor Initiative. ADI has adopted the RBA Code of Conduct,
which establishes standards to ensure that working
conditions in the electronics industry and its supply
chains are safe, that workers are treated with respect anddignity and that business operations are environmentally

responsible and conducted ethically. RBA’s audit process
is a critical component to our strategy for ensuring theprotection of human rights in our supply chain.
At our own ADI offices and manufacturing facilities,
ADI is committed to providing our employees witha safe, inclusive, and respectful work environment
where they can thrive. Harsh and inhumane treatment
is not tolerated, including any sexual harassment,
sexual abuse, corporal punishment, mental or physicalcoercion or verbal abuse of workers; nor is the threat ofany such treatment tolerated. Our Code provides details
on ADI’s policies that promote a workplace that is free ofharassment and unlawful discrimination, and mutuallyrespectful, safe, and healthy workplace environment.
We believe that open communication and direct
engagement between workers and management are
the most effective ways to resolve workplace andcompensation issues. We also respect the right of all
workers to freedom of association and to share ideas
and concerns with management regarding working
conditions and management practices without the fearof reprisal, intimidation, or harassment.
ADI is committed to upholding human rights in our
supply chain, and our manufacturing suppliers are
expected to adhere to our Code, CCSR, and the RBA
Code of Conduct, and maintain progressive employment,
environmental, health and safety, and ethics practices
that meet or exceed all applicable laws, rules, andregulations in the countries in which they operate.
ADI also aims to respect the human rights of communities,
and minimize adverse effects from its manufacturing on
communities, by adhering to the RBA Code of Conduct’s
environmental standards—which are designed toaddress issues such as air and water pollution, hazardous
substances, and waste, and its ethics standards, whichcall for responsible sourcing of minerals. See Responsible
Mineral Sourcing and EHS Section for more details.
ADI’s Anti-Slavery and Human Trafficking
Statement outlines how ADI and its suppliers
comply with antihuman trafficking laws andregulations, ADI Code of Business Conduct
and Ethics and Code of Corporate Social
Responsibility and RBA Code of Conduct.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZON

Salient Human Rights Risks
At ADI, we engage regularly with key stakeholders,
including customers, suppliers, our employees, andorganizations like the United Nations, SIA, RBA, andSEMI to help identify salient human rights risks in thesemiconductor industry and in places where we dobusiness. In 2023 key focus areas for ADI include:• Freedom from slavery and forced or child labor• Nondiscrimination and respect• Right to a safe and clean work environment• Right to privacy• Right to living wage and humane treatment in
the workplace• Awareness about reporting and remedy process

Ethical Supply Chain
ADI is committed to responsible procurement practices
and ensuring an ethical supply chain. We have an
unwavering commitment to social responsibility,
supplier integrity, and continuous improvement.
We have focused our procurement strategy to drive
consistency and efficiency.
We also collaborate with supply chain-relatedorganizations, such as the RBA and its Responsible
Minerals Initiative and Responsible Labor Initiative, and the
Semiconductor Industry Association—leaders in setting
environmental, social, and ethical supply chain standards
for the electronics industry. RBA’s audit process is a key
component to our supply chain management program.
Our CCSR adopts the RBA Code of Conduct andestablishes standards for our suppliers to ensure that
ethical and legal commitments are applied to our entire
supply chain.
To mitigate risk, ADI has implemented tools andprocesses to vet and monitor suppliers.

OUR COMMUNITYAPPENDICES

59

Responsible Business Alliance (RBA)
ADI is a member of the RBA, the world’s largest industry
coalition dedicated to social, environmental, and ethicalresponsibility in global electronics supply chains. As amember, we have adopted and agreed to comply with
the RBA Code and ensure our suppliers comply with
the RBA Code as well. ADI’s factory sites are subject
to periodic self-assessments (SAQ) and third party led
audits through RBA Validated Audit Program (VAP). As
a part of ADI’s membership requirement, we report to
the RBA on how many of the ADI-owned facilities havecompleted the SAQs, whether there are suppliers rated
as high risk in with any significant audit findings.
The RBA VAP Audit program validates compliancewith the RBA Code and applicable laws. Audits
include thorough document review, interviews withmanagement and employees and a visual site survey.
The audit results are shared with customers thatpurchase from that facility. In 2022, we’ve completed an
RBA VAP audit of one of our facilities in the Philippines
without any priority findings. In 2023, we plan to have RBA
audits of our facilities in Malaysia, Thailand, and the U.S.
ADI’s most recent RBA VAP audit scores arecompared with the industry standard, and ADI
remains above the industry standard for both
initial and closure audits.

AUDIT SCORE BENCHMARK

ClosureVAP Audits

198

162

InitialVAP Audits

173

131

ADI
*

Data current as of March, 2023

Industry

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZON

Corporate Social Responsibility

Risk Based Approach and Supplier Diligence

ADI has adopted a robust CCSR that draws uponinternationally recognized standards to promote socialand environmental responsibility in the workplace andits business. ADI’s CCSR imposes requirements on our
supply chain involving labor and human rights, healthand safety, environmental, ethics, and management
systems. Our CCSR specifically requires humane
treatment and prohibits child and involuntary labor.

We expect our suppliers to maintain the highest levelof integrity and meet or exceed all applicable laws,
rules, and regulations in the countries in which they
operate. ADI measures supplier performance, including
fair employment practices, labor, and human rights
statistics, as well as environmental, health and safetyincidents, and corrective actions to address these
critical issues.

ADI suppliers are expected to maintain progressive
employment, environmental, health and safety, andethical practices that meet or exceed all applicable laws
and requirements of ADI’s Code, CCSR, and the RBA
Code of Conduct.

As part of ADI’s supplier onboarding process, ADI
conducts diligence on all new suppliers. In 2023, ADI
implemented additional enhanced due diligence tofurther vet key suppliers. They are vetted on risks
associated with human rights, bribery/corruption,
labor and employment, intellectual property risk, tradecompliance, and data privacy. These suppliers will also
be reviewed on an ongoing basis through our enhanced
due diligence process.

Supplier Ethics Commitment (SEC)
We are committed to driving sustainable value forworkers, the environment, and business throughout
our global supply chain. We expect our global suppliers
to adhere to the same business ethics, standards,
and code of conduct as ADI, including CCSR, Code of
Conduct, and the RBA Code of Conduct.
In 2022, ADI strengthened our Supplier Ethics
Commitment (SEC) that all new suppliers are required
to sign during our onboarding process. This SEC
requires that suppliers commit in writing to comply
with RBA Code and ADI’s ethics standards and cascade
it to their downstream suppliers. Suppliers are
expected to post a corporate social and environmental
responsibility statement in their workplace affirming
their commitment to compliance and continual
improvement and to provide clear and accurate
information to workers, suppliers, and customers about
their performance, practices, and expectations. In
2022, ADI also communicated our updated policies andrequirements to all current suppliers.

OUR COMMUNITYAPPENDICES

60

Additionally, ADI’s direct suppliers annually complete
RBA self-assessment questionnaires (SAQ). ADI
evaluates these SAQs to assess supplier risk andcompliance. Every two years, certain ADI suppliers
have a validated assessment program (VAP) compliance
audit conducted by an independent, third-party auditor
that has been approved by the RBA and is speciallytrained in social and environmental auditing and the
VAP protocol. Any nonconformance is contained andcorrected to prevent future recurrence. The RBA
not only provides remedy and prevention plans for
suppliers that have noncompliance issues, but it alsooffers a Recognition Program to recognize facilities
that demonstrate their commitment to corporate
responsibility through verified closure of the issues
identified in a VAP audit.

ANALOG DEVICES 2022 ESG REPORT

Responsible Minerals Sourcing
CONFLICT MINERALS
Like many technology companies, ADI may
utilize, and some products may contain,
tin, tantalum, tungsten, and gold (3TG) in
the manufacturing of our products. Theseminerals can be sourced globally but arealso known to be frequently sourced fromthe Democratic Republic of Congo (DRC) andadjoining countries. This region has been
identified as an area of human rights abuses
and armed conflict. ADI has worked to ensurethat these minerals within its manufacturing
supply chain do not originate from sourcesthat support or engage in human rights abusesor armed conflict in this region.

ABOUT ADIOUR SOLUTIONSADI HORIZON

free sourcing of identified minerals. ADI continues its
use, support, and involvement into the RMI initiativeand is currently evaluating other minerals that may
be at risk of impacting responsible sourcing beyond
regulatory requirements.
For additional information regarding our due diligenceprocesses, risk management plan, and the resultsof our most recent inquiries, please see the Conflict
Mineral Report included on our Form SD.

Supplier Environmental Impact
Our commitment to environmental sustainability
cascades down to reduce the environmental
footprint of our suppliers. Our Code of Corporate
Social Responsibility includes several environmental
expectations that our suppliers must meet, including:• Complying with the prohibition or restriction on theuse of specific hazardous substances

Our Commitment to Sound, Ethical, andResponsible Sourcing• Complying with laws and regulations for air emissions

ADI is committed to sound, ethical, and responsible
sourcing of minerals used in our products. Coreto our commitment is our Conflict Minerals Policy
Statement and our collaboration with other concerned
electronics companies to understand, identify,
and assess the risk of these mineral sources forelimination of any noncompliant mineral use. We areengaged with our suppliers using the Organization
for Economic Cooperation and Developments (OECD)framework for due diligence, necessary to maintainconformant sourcing.

• Preventing pollution

ADI has been a member of the Responsible Minerals
Initiative (RMI), formerly known as the Conflict Free
Sourcing Initiative, since 2009. ADI contributes via
working groups and utilizes the RMI’s Responsible
Minerals Assurance Process (RMAP), which includes athird-party evaluation of mineral sources (smelters andrefiners) to determine the conformance of conflict-• Limiting or reducing waste• Reducing the use of resources• Making a positive impact in communities where
they operate
Looking ahead, ADI’s goals include continuing to move
our suppliers beyond environmental complianceand furthering green initiatives in our supply chain,including the use of environmental performance as acriterion for vendor selection.

Trade Compliance
Our semiconductor wafers are manufactured,assembled, tested, and packaged both internally and by
third parties located outside of the U.S. Our integrated
circuit (IC) products are fabricated on proprietaryprocesses at our internal production facilities inWilmington, Massachusetts; Camas, Washington;

OUR COMMUNITYAPPENDICES

61

Beaverton, Oregon; and Limerick, Ireland, and on amix of proprietary and non-proprietary processes atthird-party wafer fabricators. We currently source
approximately half of our wafer requirements annuallyinternally and the remaining from third-party wafer
fab foundries, such as Taiwan Semiconductor
Manufacturing Company (TSMC) and others, typicallywhere deep-submicron lithography capabilities and/or
large manufacturing capacity is required.
Our worldwide business activities are subject tovarious laws, rules, and regulations of the U.S. as
well as of foreign governments. The global natureof our business subjects us to a number of risks anduncertainties, which could have a material adverse
effect on our business, financial condition, andresults of operations, including international
economic and political conditions and other politicaltensions between countries in which we do business;
unexpected changes in, or impositions of, legislative or
regulatory requirements; and exporting or importing
issues related to export or import restrictions, including
deemed export restrictions, tariffs, quotas, and othertrade barriers and restrictions.
ADI’s Global Trade Compliance Team helps ensure thatapplicable international trade laws are followed when
ADI’s products are moved or sold internationally. With
local presence in the U.S., Asia Pacific, Europe, Middle
East, and Africa, team members serve as subject
matter experts on the range of global trade issues
that impact our business. The team helps clear ADI’sinternational shipments, performs restricted party
screening, advises on export license restrictions, sets
policies and procedures, and obtains import or export
licenses when required. They also strive to stay current
on new trade regulations in the jurisdictions where we
operate and collaborate with the business, so ADI has
processes in place to comply with the new regulations.

ANALOG DEVICES 2022 ESG REPORTTaxation
ADI is a responsible taxpayer and aims to comply
fully with all statutory obligations and to provide full
disclosure to the tax authorities in each country inwhich we operate. Our tax strategy is closely alignedwith our business and sustainability strategies, andour tax affairs are managed in line with our overall highstandards of governance.
Our tax payments are comprised of corporate income,
employment, property, and other tax payments. We
maintain appropriate policies, management structuresand governance processes to ensure compliance withtax laws in all jurisdictions in which we do business.
The ADI Global Tax Policy serves as our framework to
identify key tax risks. We manage those risks throughappropriately designed and operated controls, policies,
and processes, which are regularly audited by internal
audit and for Sarbanes-Oxley (SOX) purposes. The
framework is fully embraced and supported by our
Board of Directors, our management team, and theentire tax organization. The Audit Committee of
our Board of Directors reviews our tax strategy andregularly confers with our tax professionals to discuss
tax policies and the impact of tax laws and regulations
on the Company. The result is a tax structure that isfully transparent and complies with internationallyaccepted taxation principles.
Through our tax department, we assure our relevant
stakeholders that our tax obligations are properly,
effectively, and correctly handled and disclosed
in our annual and quarterly reports in accordancewith the reporting requirements of U.S. GAAP. We
retain qualified, experienced, and well-resourced
tax professionals to manage and oversee the tax

ABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

control framework and the day-to-day tax affairsof the Company. External tax advice is sought formaterial, uncertain, or complex issues or transactions,
to minimize tax risks and ensure accuracy in our
tax reporting obligations. Our tax department
members stay aligned and up to date with the latest
developments in the global tax landscape throughinternal and external training programs.
We operate in many different tax jurisdictions andfrequently deal with transfers that involve cross-border
payments within the consolidated group. To avoid
potential tax issues with these internal, cross-bordertransactions, we rely on transfer pricing to ensure that
we use the same pricing structure as we would if suchtransfers were between unrelated third parties. Ourtransfer pricing complies with country-specific transfer
pricing rules and is in accordance with OECD Transfer
Pricing Guidelines. We recognize the importance oftransfer pricing being arm’s length and ensuring tax
payments are made appropriately to locations that
contribute value.
Given our global footprint, we leverage the available
tax incentives and tax regulations in the various
jurisdictions where we operate. We aim to be clear
about all aspects of our tax position and to share thesein a transparent manner, fostering a relationship ofhonesty, transparency, and trust with tax authorities
in each of these jurisdictions. See footnote 12 to our
Consolidated Financial Statements included in our
Annual Report on Form 10-K for the fiscal year ended
October 29, 2022, for a detailed discussion of ourincome taxes.
For additional information on our approach to tax policy
and transparency, see our Global Tax Policy.

“I enjoy working with thediverse talents within ADI
where all are included in
our pursuit of providing
sustainable, innovative
solutions that have a positive
impact on society and ourenvironment.”
SHARON K. - Managing Director of
Manufacturing Operations, Malaysia

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ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZON

Privacy and Information Security
Global Data Privacy ComplianceEnterprise Information Security

ADI is committed to complying with global data
privacy regulations, including the General Data
Protection Regulation (GDPR), China’s Personal
Information Protection Law (PIPL), and California’s
Consumer Privacy Act (CCPA). At ADI, we aim
to foster a culture that values strong businesspractices as well as individual privacy. We do this byraising awareness about privacy issues by providing
transparency about ADI’s data privacy complianceprogram, training employees, and implementing good
corporate practices.

To minimize the likelihood and impact of a cybersecurity
incident we have deployed cybersecurity protections toprotect ADI’s networks, devices, and data from external
and internal threats. These protections are deployed inaccordance with global privacy regulations.

ADI’s data privacy compliance program is organizedaround the data lifecycle, including complianceactions around collecting, using, sharing, and deleting
personal information. In 2022, ADI implemented a
new data privacy policy, assigned, and trained new
data protection officers worldwide, implemented acentralized privacy mailbox to receive data privacy
inquiries, and assigned new data privacy compliancetrainings to relevant employees focusing on new legal
and organizational requirements.

PROGRAM ELEMENTS

ADI’s data privacy compliance program values include:• Transparency• Data and Information Security• Ahead of the Curve• Preparedness• Letting Go• Responsiveness

ADI’s Enterprise Security program has been developed
based on industry standards, including those publishedby International Organization for Standardization (ISO)and the National Institute of Standards and Technology(NIST). Highlights of the ADI program include:

ADI protects against threats by adopting all fiveelements of the NIST framework including:• Identifying critical assets and high-risk threats• Implementing cybersecurity detection with a
24x7x365 operations center• Implementing security controls and remediation
practices• Having an Incident Response and Disaster Recovery
capability• Evaluating our partners’ cyber posture through theimplementation of a third-party risk management
program• A comprehensive set of cybersecurity policies andprocedures

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ANALOG DEVICES 2022 ESG REPORT
Risks identified by our cybersecurity program areanalyzed to determine the potential impact on
us and the likelihood of occurrence. Such risks
are continuously monitored to ensure that thecircumstances and severity of such risks havenot changed. We evaluate our security program
effectiveness by performing internal audits andperiodic external audits by an independent information
systems expert to determine both the adequacy of,and compliance with, controls and standards. We haveintegrated ADI and Maxim employee-facing applications
such as email and file sharing and continue theintegration of business applications such as Enterprise
Resource Planning. The core business application
integration activities will continue into early 2024.

In 2022, ADI formed a management-led
cross-functional steering committee chaired by
our Chief Information Security Officer that was
charged with security governance, coordinationand monitoring of cyber risks, potential cyberincidents, and key mitigation initiatives.
ADI’s Board of Directors includes four memberswith cybersecurity expertise to assist the Board
in its oversight of the Company’s information
security program. Senior leadership andInternal Audit regularly provide the Audit
Committee with updates on the performanceof our cyber program. At least annually, theChief Information Officer updates the full Boardof Directors on information security mattersand risk, including cybersecurity, and quarterly
updates are provided to the Audit Committee.

ABOUT ADIOUR SOLUTIONSADI HORIZON

EXTERNAL INPUTSADI regularly conducts threat assessments andbenchmarks best practices. Intel sharing is conductedwith leading global security providers, the National
Defense Information Sharing and Analysis Center aswell as industry peers, which help all participatingcompanies improve their cybersecurity programs.
SECURITY AWARENESS AND TRAINING
Education is an important part of our overall program.
We conduct regular workforce training to instruct all
our eligible employees to identify cyber concerns andto take the appropriate action. This includes coverageof topics such as phishing, malware, social media, andhow to report incidents. We install and regularly update
antivirus software on all company managed systems
and workstations to detect and prevent malicious codefrom impacting our systems.
EXTERNAL CERTIFICATION
Cybersecurity Maturity Model Certification (CMMC)
is a unified standard for the implementation of
cybersecurity across an enterprise that is designed tohelp protect sensitive unclassified information. It wasdeveloped by the U.S. Department of Defense (DoD)
and is expected to apply to the 300,000 companies
supplying the DoD. The framework covers 110 controls
specified in NIST 800-171. ADI will pursue its CMMC
certification and is awaiting the publication of the final
rule in the Federal Register.

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ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Safeguarding Our Products
Product Security
A digitally connected world enhances access to awide array of information. That information must also
be protected at the right level. As the threats grow,regulations and standards are being created to help
safeguard data, and companies like ADI are increasingly
at the forefront to ensure our innovative solutions areprotecting against misuse or security vulnerabilities.
ADI takes a customer-first approach to security,
seeking to understand use, needs, and integrations
in order to deliver appropriate solutions. Different
markets and solutions require a range of security
requirements. Whether dealing with personal
health information, national security, or data privacy
requirements, ADI designs for both the use and theappropriate regulatory environment.

GOVERNANCE AND PREVENTION
ADI has deployed a specific procedure as part of our
product development process to ensure new products
are designed to be both compliant in the end market,
and secure against the relative threat landscape. Our
Product Security resources and educational programsfor our engineers is well organized and accessible.
We consider these controls important for our widearray of product lines. ADI also provides lifecycle tools
to manage products securely in the first and second
life. We have an incident response portal enabling
white hat hackers, customers, and others to securely
report vulnerabilities so ADI can actively remediate or
mitigate, as necessary. We closely monitor our productfamilies to identify if integrations unwittingly create
security threats to our products. We address theseissues quickly with notifications and updates.
ADI continuously monitors the landscape, seeking
to design our products and solutions to meet
today’s needs and help protect against tomorrow’s
emerging threats.

“Working for a company thathas a strong commitment toinnovation and excellence,
provides exceptional
products and services to
its customers, values its
employees, and fosters apositive work environmentis a true privilege and makes
me feel like we are making a
positive impact on the world.”
APARNA T. - Sr. Manager Test Engineering Product Development, United States

65

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

66

Public Policy
ApproachPublic policy engagement allows ADI toprovide thought leadership to both U.S. andglobal governments on issues that directly
impact our business, the communities
where we operate, and the semiconductor
industry as a whole.
Through conversations with government officials, tradeassociations, and other coalitions, we build relationships
with key governmental offices and agencies and educate
state and federal policymakers on key issues such as
supply chain resilience, advanced research technology
and innovation, intellectual property rights and protection,
workforce development, and ESG-related issues including
climate change and responsible materials sourcing. At theMassachusetts’ Governor Maura Healey visits ADI’s
Wilmington campus

state level, our focus is on partnership and supporting
workforce and economic development in states where
we have the largest presence: Massachusetts, Oregon,
Washington, and North Carolina.
ADI belongs to trade associations worldwide, representing
the interests of the technology industry, industries in which
ADI operates and the broader business community. These
organizations work to bring about industry consensus andadvocacy on major public-policy issues. Our participation intrade associations does not mean that we agree with every
position a trade association takes on an issue.
ADI is currently an active member of the Semiconductor
Industry Association (SIA), and our CEO and President
is on the SIA Board. We are also a member of other U.S.
trade associations, including SEMI, Semiconductor
Research Corporation, and Open RAN Policy Coalition.
In states where we have a large presence, we support
efforts of state policy-focused associations to advance
regional competitiveness and improve education andemployment opportunities for underrepresented groups.
In addition, we are members of several trade associations
located outside the U.S.—including in Ireland, India,
China, and some of our other main locations.
We conduct our advocacy activities only throughspecifically authorized and legally compliant activities.
ADI is registered as a U.S. federal lobbyist and files
lobbying disclosure reports with federal, state, and local
governments where required by law with respect to such
advocacy activities. We do not make political contributionsof any kind to parties or candidates, including any directcontributions through intermediary organizations. This
policy applies worldwide, even where these contributions
are permitted by law. Our public policy and government

relations are managed by ADI Government Affairs
worldwide. The Nominating and Corporate GovernanceCommittee of our Board oversees our policies andpractices and receives quarterly reports from ADI
management on such policies, practices, and activities.

2022 Political Activities
In 2022, ADI built on prior efforts in the U.S. bystrengthening existing relationships and broadening
engagement with additional members of Congress, theBiden Administration, and governors in states where wehave a significant presence.
At the federal level, ADI engaged in policy discussions
that shaped the August 2022 passage of the CHIPS
and Science Act, one of the most significant U.S.
investments in science and technology in history. We are
pursuing incentives to bolster and accelerate projects
aimed at expanding our production and increasing
resiliency, which we expect will have a positive impact
on job creation and workforce development. ADI has also
been a leading voice on several CHIPS advanced research
programs, including the National Semiconductor
Technology Center and Microelectronics Commons, toaugment regional R&D ecosystems.
On a global scale, ADI’s public policy focus areas include
supply chain resiliency, workforce development,
creating a level playing field to spur more domestic
manufacturing, and promoting technologies that
improve the world around us. Our public policy
initiatives include supporting development of crossborder projects as well as education and collaboration
with public officials on these issues.

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67

Health and Safety
Approach

Planning for emergencies is another aspect of keeping
our employees safe. Employees receive training on
what to do in the event of an emergency, reporting an
emergency and how to safely evacuate the building.
Members of our emergency response teams (ERT)
receive training which includes first aid, CPR, AEDs,
bloodborne pathogens, and chemical response.

The health and safety of our employees and contractors
is a top priority. All manufacturing sites have employee
health and safety committees, which ensure ourcommitment to a safe operating environment is
implemented. Our approach details ADI’s policies foritself and its suppliers in the areas of labor and humanrights, health and safety, ethics, management systems,
and data privacy.

2022 Performance
ADI recognizes the importance of metrics to support
our commitment to continuous improvement of ourhealth and safety performance. We use two industry
standard metrics to assess our injury performanceand trends globally: incident rates and lost workday
rates. We review our metrics on a consistent basis
to understand how we are doing and learn where we
can improve. We compare our incident rate and lost
workday rate against the U.S. semiconductor industry
and U.S. manufacturing industry rates as benchmarks.

2022 was a year of integration as we combined ADI andMaxim, which offered opportunities to benchmark bestpractices. Cross-site collaboration and planning wasenhanced through the initiation of new quarterly EHS
reviews, a biweekly EHS leaders’ forum, an annual strategy
meeting, and a monthly injury review committee.

ISO 45001
All our Legacy ADI manufacturing facilities acrossthe globe are now certified to ISO 45001 Occupational
Health and Safety management system standards. All
sites certified to ISO 45001 have an EHS policy that
addresses the health and safety of employees. To
maintain ISO-certification, we undergo independent
third-party audits, and we ensure compliance withregulatory requirements. ADI has high standards forhealth and safety programs and maintaining ISO 45001
certification is part of our expectations. In 2022, oursite in Camas obtained its ISO 45001 certification,
making all legacy ADI manufacturing facilities certified
to ISO 45001. Our plan in 2023 is to seek enterprisecertification for ISO 14001 and ISO 45001, consolidating
all our individual site certifications under a central
management system. As part of this enterprisecertification, we will adopt the ISO 45001 standard at
our Legacy Maxim sites in Beaverton, Oregon; Cavite,
Philippines; and Chonburi, Thailand.

Health and Safety Training
To support our employees in conducting theirenvironmental health and safety (EHS) responsibilities,
ADI provides comprehensive health and safety trainingthat builds awareness and skills. Manufacturing
employees undergo EHS training when they join ADI.
Varied learning methodologies are employed to meetthe needs of our diverse workforce, and EHS training isoffered in different languages and through both webbased and on-site platforms. Training information is
also tailored to what is needed for specific jobs, suchas hazardous materials management, electrical safety,
tool safety, and ergonomic workplace design.

In 2022, ADI’s recordable injury rate was 0.26, whichis the lowest rate documented by ADI in at least
the last 10 years. Our record reflects our ongoing
efforts to drive safety improvement and protect
people. We achieved better rates than the industry
averages for incident rates and lost workday rates.
Our measurements include contingent workers andtemporary workers in addition to all employees. The
types of injuries are tracked at the site level; prevalent
injury categories include slips and falls, overexertion,and ergonomic issues.
There were no fatalities at any ADI sites, though there
were ten injuries defined as high consequence by the
Global Reporting Initiative. To continuously improve ourhealth and safety performance, every site maintains
EHS-specific procedures and specifications, performs
a periodic self-assessment or self-audit, posts healthand safety communications, tracks its injury metrics,
conducts investigations of safety incidents, andidentifies causes and corrective actions.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Environmental Sustainability
Environmental sustainability is core to
our business. ADI is driven to use ouringenuity and technologies to connect thephysical and digital worlds to help solve theproblems that really matter. The climate
crisis is a universal challenge, and we are
eager to leverage our culture of problemsolving and innovation in the service ofbettering our planet.

Optimizing Our Operations
Looking Ahead
As we execute our plans to achieve net zero by
2050, we know that a credible climate plan requires
reducing absolute emissions first and foremost,before considering offsets for the hardest-to-reduce
emissions. We take a similar approach to our water
use and waste generation practices. We are building acomprehensive, multi-year roadmap that outlines how
we will execute our commitments. Tooling choices havebeen completed to enable a significant reduction inGreenhouse Gas emissions by 2025 despite doubling
our aggregate production capacity in Beaverton,
Oregon; Camas, Washington; and Limerick, Ireland.
Cross-site, cross-organizational teams have beencreated to define and execute the roadmaps needed
to help meet our water recycling, zero-waste to landfill,
and greenhouse gas emissions goals. These teams
meet at least monthly to share data, strategies, andbest practices, and collaborate on plans to reduce ourenvironmental footprint. They are led and attended
by members of our factory operations teams,
facilities, and EHS and are overseen by our factory
leadership who are responsible for manufacturing
sustainability initiatives.

Taking Action in Ireland
Driving advances in sustainability is a passion
shared campus wide at ADI’s regional office inLimerick, Ireland. New sustainability practices
are being initiated by our global operations
teams as well as employees who are part of avolunteer-led Green Team. The local operations
team has increased energy efficiency by
33% since 2020 through initiatives such asincreasing productivity, ISO 5001 certification,and employment of an energy kaizen event. In
2022, the site became the first in its province tobecome certified as a Cycle Friendly Employer,
a recognition given to employers providing
resources to support employees biking to work.
Furthering a culture of sustainability across thecampus, the Limerick Green Team is actively
involved in advancing biodiversity regionally
including partnering with Reforest Nation toplant 2000 native trees to help strengthen
natural habitats and with the Irish Bee
Conservation Project to install new bee lodge
habitats locally.

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ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITY

Progress on Environmental Goals
WASTE

CLIMATE AND ENERGY
GOALS2030 GOAL• ADI is committed to achieving net zeroacross our value chain by 2050 or sooner

100%• Achieve carbon neutrality by 2030
• Reduce absolute Scope 1 and 2 GHG
emissions 50% from 2019 by 2030
• 100% of ADI’s manufacturing facilities
powered by renewable energy by 2025

Waste diverted from landfill at ADI
manufacturing facilities

WATER

90%

2025 GOAL
2022 PERFORMANCE*

7.2%

Decrease in absolute Scope 1 and 2
GHG emissions from 201937%

Decrease in Scope 1 and 2 GHG emissions
intensity by revenue from 201954%

Of electricity used at ADI’s manufacturing
facilities from renewables*

50%

Waste diverted from landfill

Recycling rate in manufacturing facilities
2022 PERFORMANCE

25%

Water recycled2027 Goal

2022 PERFORMANCE

NEW

50%

Reduction in water withdrawal
normalized to production output**2022 PERFORMANCE

0.28

gal/cm(squared) Si/ML

In 2021, we adjusted our baseline from 2015 to 2019 as part of our SBTi approval process.

** Water withdrawal is normalized to fab production output. A description of the metric and how it is calculated is noted here.

APPENDICES

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ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZON

Climate and Energy
Approach
The world’s environmental challenges are so vast in
scale that stakeholders from every industry and of
every size have a role to play in addressing climatechange and that includes ADI.
ADI is committed to achieving Net Zero by 2050 orsooner. GHG emissions from ADI manufacturing sites
make up the majority of our Scope 1 and 2 emissions(90%); therefore, in the short term, we are committed
to reducing Scope 1 and 2 GHG emissions with a focus
on cost-effective initiatives that promise the largest
impact, including:• Process and equipment optimization• Increasing renewable energy use across ADI’s global
manufacturing operations• Energy efficiency and conservation• Smart monitoring and control ofmanufacturing facilities• Enabling a circular economy with traditional
manufacturing waste streams
ADI produces intermediate products with manypotential downstream applications, each of which has
a different GHG emissions profile. A critical componentof our action plan is to inventory, calculate, and reporton applicable Scope 3 categories in alignment with theGreenhouse Gas Protocol’s guidance. Our 2021 Scope 3
data underwent third party assurance for the first-time
last year, and our 2022 Scope 3 data have been
inventoried and verified as well.

To calculate Scope 3 emissions, ADI uses a mixtureof primary and secondary data, depending on theemissions category. A combination of methodologies isused depending on the data available. Primary data areused for categories such as upstream transportationand distribution and business travel. This is collected
via outreach to internal stakeholders for data inputs.
For purchased goods and services and capital goods,
we use an economic-input emissions-output databaseto estimate emissions. For all remaining categories,
emissions are modelled using internal stakeholder dataor publicly available external data. To translate spend
or consumption data to emissions, we use CEDA or EPA
emission factors where available; BEIS emission factors
are applied as an alternative if needed. For energyrelated emissions, IEA emission factors are used.

Process Change Increases Production
Volume While Lowering Emissions
In 2022, ADI made a significant capital
investment in new, efficient chemical vapor
deposition tools for our fabs that will markedly
reduce Scope 1 emissions. This transition
to lower-GWP gases and tools with loweremitting processes was approved this past year
and we expect tool delivery and installation
starting in 2024. In addition, in 2023 we will
be evaluating new abatement technologies aswell as PFC-free processes that, if successful,will lower Scope 1 emissions further. ADI
is therefore projecting a reduction in ourabsolute emissions while production volume
concurrently increases.

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70

ANALOG DEVICES 2022 ESG REPORT

Scope 1 + 2 Absolute Emissions**

340

362

350

354
325

280
220
160
100

2019

2020

2021

OUR SOLUTIONSADI HORIZON

In 2022, ADI experienced an absolute decrease of
7.2% in our Scope 1 and 2 emissions from 2019. Whennormalized against a revenue, ADI’s GHG intensity has
decreased by 37% since 2019 and 27% since 2021.

Our Progress

400

ABOUT ADI

2022

1,000 metric tons CO2e

SCOPE 1 AND 2 EMISSIONS INTENSITY*

2022 vs 2021

2022 vs 2019

27%

37%

The majority of ADI’s reductions to date have resulted
from our transition to renewable energy, facilitated bymanufacturing sites with accessibility to certified green
energy or readily procurable renewable energy credits(RECs). Utilization of on-site solar panel arrays has also
served to increase our use of renewable energy while
reducing our reliance on electricity from the grid. In
2022, ADI achieved 54% renewable energy use acrossour global manufacturing operations, and we purchased
over 43,000 megawatt hours (MWh) of renewableenergy through RECs. While a transition to renewableenergy has been the most impactful opportunity
thus far, emissions reductions initiatives focusing onenergy efficiency as well as reduction of direct process
emissions have also contributed to reductions. These
initiatives include:• Manufacturing process optimization such as the useof lower-emitting gases, process improvements andrecipe optimization to reduce consumption• Abatement systems to lower emissions through thethermal destruction of high GWP (Global Warming
Potential) fluorinated GHGs

OUR COMMUNITYAPPENDICES

Progress at ADI Manufacturing Sites
ADI operates on a hybrid manufacturing model,
outsourcing some of its production to contract
manufacturers and with its own manufacturing
facilities in California, Massachusetts,
Oregon, and Washington in the US, as wellas in Ireland, Malaysia, Singapore, Thailand,
and the Philippines. Highlights of our 2022
environmental progress at our facilities include:• Our factory in Penang, Malaysia, reduced
its GHG emissions by 86% by transitioning
to 100% renewable energy during 2022
through the purchase of electricity through agreen tariff.
• Our headquarters in Wilmington,
Massachusetts, utilized 100% renewableelectricity in the last three months of2022 through the procurement of Green-E
certified RECs.
• Our other factories in Camas, Ireland, and oneof the Philippines sites sustained the use of
100% renewable energy.

• Energy conservation initiatives such as equipment
upgrades, building energy management systems andLED lighting upgrades*

2019-2021 revenue based on fiscal year pro forma revenue for L-ADI and L-Maxim** Per the WRI/WBCSD GHG Protocol: ADI adjusts its 2019 base year GHG and energy data annually to reflect changes in structure or calculation methodology, improvements in accuracy of emission factors or activity
data, and discovery of error. Interim years are not adjusted except upon discovery of significant error. 2019-2021 GHG emissions were recast to reflect corrections identified in audit.

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ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZON

Plans for Future Reductions
SCOPE 1 AND 2

SCOPE 3

In 2022, ADI obtained third-party assurance for thecompany’s emissions for both our manufacturing
facilities as well as our non-manufacturing sites. We
also have established a roadmap to decrease ourscope 1 and 2 emissions to meet our 2030 goal andcollaborated with a consultant to map out a plan for our
100% renewable energy target.

ADI’s Scope 3 emissions represent approximately
90% of our total emissions inventory, the majority ofwhich originates from Category 1 (Purchased Goods
and Services) and Category 2 (Capital Goods). With athird-party assured baseline of our Scope 3 emissions,
we are in the process of evaluating opportunities for
reduction as we work with our value chain partners. ADI
has undertaken a maturity assessment, surveying our
top 67% of our suppliers by spend to understand where
our supplier base is on their sustainability journey. We
were pleased that the response rate was ~92%.

Our roadmap for future reductions includes:• Replacing older tools and high GWP gases with more
efficient versions that will produce fewer emissions.
• Continuing to drive process andequipment optimization.
• Implementation of new plasmaabatement technology.
• Piloting non-PFC process gases.
• Additional energy efficiency programs such ascompressed dry air (CDA) process optimization,
installation of motion sensors in meetings
rooms, lighting upgrades, and variable frequency
drives (VFD).
• Expanding our procurement of Energy AttributeCertificates (EACs) to additional sites and continuing
to source renewable energy through supplier green
rates or green tariffs.
• Pursuit of new renewable energy construction
projects, either through power purchase agreements(PPAs), direct investments, or financing selfgeneration of renewable energy.

In 2022, prior to issuing our ESG Report, ADI re­baselined our emissions after our large acquisition of
Maxim Integrated in 2021. As part of that evaluation,
we reviewed our approved Scope 3 SBTi target, which
was originally proposed as a Supplier Engagementtarget. The Supplier Engagement target requires 2/3
of a company’s suppliers by spend to set their own
science-based target. In line with our philosophy tosupport our suppliers’ transition, and incorporating
investor and stakeholder feedback, we intend to shift
our Scope 3 approach to an Absolute Reduction target
and will reengage with SBTi in 2023.

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ANALOG DEVICES 2022 ESG REPORTABOUT ADIADI HORIZONOUR SOLUTIONSOUR COMMUNITYAPPENDICES

Water
Approach
Water is essential to semiconductor manufacturing,and ADI is committed to both water conservation
and recycling. Water withdrawals from municipal andgroundwater sources, as well as the quality of thewater itself, are continuously monitored and measured.
Site water balances track how water is used, water
effluent quality is monitored and measured, and thevolume of water discharge is quantified as part of ourcompliance program.
Water recycling and water reduction initiatives are
identified and compiled by our facilities organizationand manufacturing operations in partnership withEnvironmental Health & Safety (EHS) and reviewed
quarterly by senior leadership. Most initiatives to date havefocused on recycling water in our facilities systems, with
waste or reject water streams being used for scrubbers,cooling towers, irrigation, or other applications wherewater quality is not as critical. We aim to design ourbuildings and operations in accordance with Leadershipin Energy and Environmental Design (LEED) standards orother green building standards, which include aspects
on water conservation and efficiency (e.g., rainwater
harvesting, use of low-flow fixtures, recycled water uses
for toilets and landscaping, etc.) over the long term.

For water effluent, our wastewater discharge ismonitored and measured using water meters andsite water balances as part of our complianceprogram. Volume is also tracked as part of our water
conservation and efficiency programs.
Water is treated on-site per local regulatory
requirements, with most water undergoing pH
neutralization prior to discharge and subsequent
treatment in municipal wastewater treatment plants.
In some cases, water is segregated for separate
treatment of fluoride, metals, or other wastes, andsampling is conducted prior to discharge or collection
to ensure compliance with water quality standards.

Progress
Water Withdrawn and Recycling Rate
970

961

950

963

0.8

938

0.6

930
910

912
0.238

For reject water, incoming municipal water goes
through a reverse osmosis (RO) process to generate
deionized water. The water is separated to a deionizedstream and an RO reject stream. The RO reject water
can be used for non-process applications that do not
require deionized water.

50%

0.232

2020

Water Usage(in million gallons)

2021

0.246

2022

0.0

Recycling Rate

WATER INTENSITY*

25%2022 vs 2021
Recycling rate achieved

20%*

Reduction by 2027 in water
intensity by production

To ensure our stakeholders have an accurate
picture of our water program and progress, ADI
will continue to report water recycled and water
intensity by revenue in line with our goals and ourprevious reports.

0.2
2019

NEW

In recognition that the semiconductor industry
is a heavy water user, and that the industry has a
responsibility to use our resources as elegantly
as possible, ADI has set a bold goal sought to
add a goal to reduce our water withdrawn for ouroperations by 50% versus our 2022 baseline,
normalized by our production output. This newgoal covers all our manufacturing operations
globally, including our fabs and assembly andtest operations. ADI used the SIA’s standard
normalization factor for fabs as the basis of its
calculation. To learn more about our methodology
click here.

0.4
0.238

890
870

1.0

TOTAL WATER WITHDRAWN GOAL

2022 vs 201928%

2019-2021 revenue based on fiscal year pro forma revenue for L-ADI and L-Maxim

73

ANALOG DEVICES 2022 ESG REPORTIn 2022, ADI achieved a recycling rate of 25%, equating
to 237 million gallons of water. Our recycling rate
was lower in 2021 (23%). In 2022, a facilities-focusedsustainability team was kicked off, with its primarydeliverable being to identify, share, and monitor water
conservation opportunities. Projects to reclaim water
for use in cooling towers, abatement units, and toilets
were identified and implemented. When normalizedagainst revenue, ADI’s water intensity has decreased by
28% since 2019 and 20% since 2021.
ADI assesses water stress using the WRI Aqueduct
Water Risk Atlas. Based on this assessment, we havethree manufacturing sites located in a water-stressedregion. We closely monitor water availability at theseand all our sites.

Water Conservation
In 2022, a facilities-focused sustainability team was
kicked off, with its primary deliverable being to identify,
share, and monitor water conservation opportunities.
WILMINGTON, MASSACHUSETTS
A new reverse-osmosis (RO) water-reclaim unit was
brought online which will save more than 7 million
gallons of water per year. A project was also completed
to reclaim process water and redirect it to abatement
units used to reduce emissions, saving more than 3
million gallons. The site is now recycling over 50%
of its water.
CAVITE, PHILIPPINES
Sites completed projects to switch water used forflushing from potable water to RO reject water.
They also increased the level of cooling tower blowdown
recycling and instituted rainwater harvesting. Over 9
million gallons per year will be saved in total.
CAMAS, WASHINGTON
Our facilities team also worked jointly with toolengineers in the fab to identify water reduction

ABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

opportunities in the manufacturing process. These
initiatives focused on reducing the number ofrinses as well as any idle flows. In all, over 15 million
gallons’ worth of water reduction projects wereidentified and implemented.

Plans for Future Reductions
ADI is committed to identifying opportunities toincrease the volume of water recycled as well
as reduce the total amount of water withdrawn.
Annual conservation goals will be set from now through2025 to ensure we stay on track with our 2025 target
for 50% recycling. Aligned with our philosophy ofcontinuous improvement, a key action in 2022 wasto engage subject matter experts to help inform a
multi-year roadmap for our water program. ADI willcontinue to investigate ways to further reduce waterin its manufacturing processes. Water teams arebeing formed in 2023 at each of our fab facilities tocollaborate and benchmark on water conservation.
ADI is in the design phase of significant RO andscrubber reclaim projects in Beaverton as well as fullscale treatment of effluent discharge at our Camas
and Limerick sites in conjunction with site expansion
activities. If successful, these projects will place us ona path to achieving our 2025 recycling target and offer
another example of sustainable growth.

“Being part of the ADI teamgives me an opportunity towork alongside some of themost intelligent, creative,
and collaborative people I
know, nurturing ideas into
innovations that make areal impact on how we live
our lives.”
DIARMUID M. - Managing Director, Sustainable
Industry & Environments, Ireland

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Waste
Approach
ADI generates much of its waste through its
manufacturing operations and construction activities,
and we responsibly manage and dispose of ourchemicals and materials. The amount of waste we
generate is reduced by limiting what we procure,segregating our waste streams and striving to reuse,reclaim, or recycle chemicals and materials to theextent possible. Examples of waste we recycle include
glass, paper, metals, and wood. Certain wastes are used
for energy recovery. Anything that cannot be recycled
or reused we dispose of according to local laws.
Each site’s EHS team identifies those waste reduction
or recycling initiatives that will lead to significant
results. We determine ways to further segregate
our waste streams and work with our waste disposal
vendors to divert those wastes from landfills. We
engage with our employees through initiatives like theGreen Team Network to educate our workforce on theimportance of recycling and reducing waste. Activities
promoted include proper bin use, composting andreducing takeout containers and plastic bottles.
ADI follows all local laws and regulations for hazardous
waste storage, treatment and disposal, and all waste
is appropriately documented and/or registered.
Hazardous waste quantities are tracked, and the waste
is segregated where possible for recycling or reclaim
opportunities. Hazardous waste is managed by licensed
waste disposal vendors, which are audited by ADI.
Opportunities for chemical reduction are assessed toreduce the amount of hazardous waste generated.
Hazardous waste is a significant environmental andpublic health concern. Semiconductor manufacturing
involves the use of dangerous chemicals, such as acids,
solvents, and heavy metals, which, if not controlled,
can harm both human health and the environment.

ADI minimizes hazardous waste in our manufacturing
operations by implementing best practices for waste
management, including source reduction, recycling,
and proper disposal, and we are committed to following
all local laws and regulations. Continued researchand innovation are crucial to identify safer and moreenvironmentally friendly alternatives to toxic chemicals
used in the manufacturing process.
ADI provides products that allow our customers
to be compliant with the Restriction of Hazardous
Substances (otherwise known as RoHS) Directive.
For more information on ADI’s RoHS complianceprogram, see:ADI RoHS Compliance Information andPosition Statement

Our Progress
Waste Generated and Diversion Rate**
6,000
5,000
4,000

83%
4,599

81%
4,369

82%
5,056

20%

1,000

Total Waste
Generated(tons)% Diverted from
Landfill22%

In 2022, a cross-site team was formed to identify
key landfill waste streams and strategies for theirdisposition. The site EHS teams created a landfill
reduction roadmap and focused on waste segregation
and alternative waste disposal methods. The
percentage of waste diverted from landfills increased
to 90%, compared to 82% in 2021. In the Philippines,
residual landfill waste was diverted to cement coprocessing, while other waste streams utilized newprocesses such as pyrolysis. The Cavite site reduced
its landfilled waste by 97% from Q1 to Q4. In Camas, thesite began recycling its calcium fluoride cake, and the
Beaverton site directed its waste to a facility practicing
energy recovery. The Beaverton site was able to reduce
its non-hazardous landfilled waste by 98%.

A cross-site fab waste core team will be formed in
2023 to look for waste reduction opportunities in our
manufacturing operations. While 2022 initiatives
focused on waste diversion from landfills, ongoingprojects will focus on minimizing the quantity of waste
generated. These efforts may involve reduction ofchemical use, avoidance of chemical expiration, andextended lifetime of consumable parts.

40%

2021

18%

Plan for Future Reductions

2,000

2020

2022 vs 2019

5,228 80%

60%

2019

2022 vs 2021

90% 100%

3,000

0

WASTE INTENSITY*

2022

0%

*

2019-2021 revenue based on fiscal year pro forma revenue for
L-ADI and L-Maxim** 2019-2020 waste data were recast to reflect minor corrections
identified in audit.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Biodiversity
The loss of biodiversity has critical implications for the
globe and humanity, from the collapse of food chainsand health systems to the disruption of entire supply
chains. Biodiversity loss is listed as the third most
severe risk on a global scale over the next 10 years in
the World Economic Forum’s 2022 Global Risks Report.
We know that human actions have an impact on local
habitats, whether to support and enhance biodiversity
or to compromise it. At ADI, we are just at the beginningof our biodiversity program journey, and realize we must
do more to understand and address biodiversity risks
and opportunities more strategically.

In the coming months, ADI will execute a biodiversity
impact review for our facilities and operations in orderto create interventions appropriate for each area tomitigate our impact.
Currently, we are proud to partner with our Green Team
Network which has identified biodiversity as one of
their key priorities. Their actions range from species
identification to promoting pollinators to trash andinvasive species removals.

The Green Team Network

BIODIVERSITYRESOURCE MANAGEMENTThe Green Team Network (GTN) at ADI brings
together employees globally to educate, inspire,and empower them around sustainability and theenvironment. Green teams at the country or majorsite level each have their own local leadership,with employees driving the areas of focus foreach chapter. The GTN promotes actions bothto make ADI a more sustainable workplace andto help members incorporate sustainability into
their personal lives. The following are just a few
highlights of 2022 activities.

• Philippines: Volunteers planted ~2,000 propagules
on 1,300 sqm of adopted shoreline as part ofa mangrove tree planting effort focused on
revitalizing local biodiversity• Ireland: Installed 24 wild beehives at Lough
Gur Heritage Park as part of a multi-year bee
conservation project; planted 2,000 native trees inpartnership with Reforest Nation• China: Collected over 50 kg of plastic bottles in
one month as part of a “Plastic Bottles Recycle for
School Uniforms” campaign in partnership with
P.E.T., a local plastic ecological transformation
solution provider• India: Planted 1,050 native saplings in Sundaravana
forest using Miyawaki method to revitalize former
wasteland
MOBILITY• India: Hosted bicycle repair workshops andonboarded an electric vehicle vendor for office use• France: Added filtered water stations anddistributed reusable bottles to eliminate singleuse plastics consumption• U.S.—Wilmington: Introduced composting to thecafeteria where in the first three months, over
10,000 lbs. of waste was collected as compost thatwould have otherwise been incinerated

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Sustainable Financing
Leveraging sustainable financing is imperative totackling society’s greatest threats, particularly climatechange, and ADI is proud to be a pioneer for the U.S.
technology sector in building this emerging market.
Green financing is yet another manifestation of ourbroader commitment to people and the planet.
To further strengthen these commitments to ESG
initiatives, we deployed three sustainable financeinstruments in recent years. In April 2020, we
completed our inaugural green bond through theunderwritten public offering of $400 million aggregate
principal amount of 2.95% senior unsecured bonds,
marking our leadership as the first semiconductor
company and one of the first U.S. technology
companies to issue a green bond in the U.S. debt capital
markets. The net proceeds of this offering have been
fully allocated to a variety of eligible projects involving
renewable energy, energy efficiency, green buildings,
sustainable water and wastewater management,
pollution prevention and control, clean transportation
or eco-efficient and/or circular economy adapted
products, and production technologies and processes.
In June 2021, we refinanced our revolving credit facility
with a new $2.5 billion sustainability-linked revolving
credit facility, becoming one of the first semiconductor
companies to use this instrument. Under the termsof the facility, the interest rate and certain fees may
be adjusted annually based on ADI’s performanceagainst environmental criteria over the prior calendar
year. ADI’s performance is measured on two key
performance indicators within certain of the Legacy
ADI manufacturing facilities, namely using renewableenergy and reducing greenhouse gas emissions.
In 2022, we were pleased to have exceeded the interim
goals set within the sustainability-linked credit facility
for both renewable energy usage and greenhousegas emissions reduction. Details of our sustainability
targets including renewable energy and greenhousegas emissions can be found in the “Optimizing Our
Operations” section on page 68. We continue to strive
to achieve our ambitious goals as laid out in oursustainable financing agreements.
To provide us with the flexibility to utilize a full slateof sustainable finance instruments going forward, we
also established a Sustainability-Linked Financing
Framework in September 2021. This comprehensive
framework received a second-party opinion from DNV, an
independent assurance company specialized in assessing
the accuracy and integrity of these frameworks.
In October 2021, we issued $750 million aggregate
principal amount of 1.7% sustainability-linked seniornotes through an underwritten public offering, a firstin the U.S. technology sector. At the heart of thesesustainability-linked bonds is a specified sustainability
performance target of a 27% reduction of Scope 1 andScope 2 emissions for 2025 relative to 2019, which isaligned with our climate ambitions. The bonds are subject
to a mandatory interest rate coupon step-up beginning
April 1, 2026 if this target is not met at the end of 2025 andcertified in March 2026, further incentivizing continued
focus and action towards our stated environmental goals.
In 2022, we began broadening the focus of oursustainable finance initiatives to the asset side of thebalance sheet and continue to explore opportunities
to make a positive impact with our corporate cash
balances and investments.

We have recently added J.P. Morgan’s Empower andAcademy Securities share classes, Northern Trust’s
Siebert Williams Shank share class, and Invesco’s
CAVU Securities share class to our Money Market Fundinvestment universe, and expect the majority of our
Money Market Fund investments to be deployed in thesefunds in 2023.
These share classes provide a direct revenue source
to Minority Depository Institutions (MDIs), Community
Development Financial Institutions (CDFIs), Service
Disabled Veteran-Owned, Women-Owned, and MinorityOwned firms, allowing them to further their impact inserving underbanked communities and/or hiring andtraining underrepresented talent groups.
As part of our ESG focus, ADI has been proud to workwith financing partners dedicated to diversity, equity,and inclusion. A spotlight of some of our financing
partners and their achievements is included on thesubsequent page.
We believe that sustainable financing will not only
support our broad and ambitious environmental
sustainability strategy and vision, but also will hold us
accountable for meeting established goals.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICESSPOTLIGHT
ESG, PARTNERSHIPS FOR GOOD, DRIVING IMPACT FOR FINANCE PARTNERSHIPSROBERTS & RYANACADEMY SECURITIESSIEBERT WILLIAMS SHANK

Roberts & Ryan takes great pride in being a servicedisabled veteran-owned broker dealer. Founded bya group of Wall Street veterans and citizen patriots,
our vision is to do well by doing good: provide ourclients with superior services while supporting ournation’s veterans in general wellness, mental health,and career transition.

Academy Securities is a service-disabled veteranowned investment bank that has served as anunderwriter on ADI’s bond offerings.

Siebert Williams Shank & Co., LLC (SWS) is anindependent nonbank financial services firm thatoffers investment banking, sales and trading,research, and advisory services. SWS provides
customized solutions incorporating comprehensive
financial advisory, capital raising, and risk
management guidance with the mission of delivering
the highest level of value-added services to ourclients. Dually headquartered in New York andOakland, our firm is comprised of over 125 diverse
professionals spanning 19 offices across the U.S.
SWS serves a broad spectrum of clients, including
corporations, governments, municipalities, andinstitutional investors. Building enduring client
partnerships through integrity, experience, andresults is our priority.

Through our passion to impact the greatest numberof veterans who are most in need by truly giving back,we serve by donating a portion of our revenue toveteran-focused nonprofits. We maintain our deep
commitment to support veterans either new to WallStreet or early in their career development.
Roberts & Ryan continues to partner with ADI andother organizations in making a difference in theirlocal communities.
Earlier this year, Roberts & Ryan donated $5,000 ofproceeds from a recent co-manager role on an ADI
bond offering to 22 Mohawks, a local Massachusetts
nonprofit that focuses on preventing veteran suicide.
They do this by helping veterans lead themselves
to find purpose through a number of programs andevents, including their core Pups for Vets Program,which pairs veterans with rescue dogs.

Academy Securities is deeply committed to its social
mission to mentor, hire, and train military veterans
to develop careers in finance. With just over 100
employees, Academy Securities has a workforce
that consists of 48% veterans and firm leadershipconsisting of 83% military veterans.
Academy Securities also adds value with its unique
Geopolitical Intelligence Group consisting of 18
recently retired veterans helping our clients andpartners assess geopolitical risk.

As the nation’s largest and highest ranked MWBE
investment banking firm, maintaining an inclusive anddiverse workforce and robust community involvement
has been a priority since inception. SWS is the only
U.S. investment bank certified as both a WomenOwned and Minority-Owned Enterprise. We have a
25+ year track record built on integrity, experience,and results. We understand that the foundation ofeach customer relationship is trust. We also believe
in being a constructive member of the communities
in which we operate in order to enrich the lives of ouremployees and clients.

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79

Our Community
ADI works to create an equitable andinclusive environment where people canimagine the future and then build it.

IN THIS SECTION:
80

Our Purpose, Culture and Priorities

87

Talent94

Analog Devices Foundation Connects to
Communities
94

Our OutreachANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Our Purpose, Culture and Priorities
At ADI, we constantly sense, adapt, and evolve our solutions, business, and culture to ensure that we meet our customers
where, when, and how they need us and that we support an agile, learning culture that enables employees to learn, growand reach their full potential.
INNOVATION

Create the future
PURPOSE

Accelerate human breakthroughsthat enrich lives and the world around us

RESPECTAGILITY

Embrace humanity
VISIONSTRATEGY

Drive customer successby combining Analog, Digital &Software into easy-to-use solutions

Foster our culture

through our values & behaviors

VALUES

Sense & adapt

Lead the Intelligent Edge

IMPACTLEADERSHIP

Play to win

Act with courage

BALANCELEARNING

Think holistically

COMMUNITY

Evolve with achanging world

Succeed together

ADI has an amazing cultural legacy. We are known as a place where innovation, teamwork, and learning matter. A place where people matter. As we integrated
post-acquisition, it was clear that we needed to reflect on the essence of our identity and what makes ADI unique.
After a year of listening and learning, we started with our Purpose, then defined where we want to be by 2030, and connected it to individual business andfunctional strategies.
Through strategic planning and a range of data points, conversations and surveys, eight core values emerged that define ADI. These eight values give us a common
language, serve as a symbol of ADI’s identity and provide collective behaviors that create the culture. Our expression of these values through our behaviors
constitutes our culture and our character.

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81

Our Priorities
Enable Our
Learning Culture

Shaping our culture to foster a growth mindset and accelerate the achievement ofour goals
We believe our learning culture can be a source of competitive advantage and accelerate
the achievement of our ambitions. Through employee surveys, roundtables, and culture
development workshops, we are aligning our purpose, vision, strategy and culture across
ADI to create a common cultural language, apply shared culture concepts and embed ourvalues into our employee experiences from hiring, developing and rewarding talent. This
multi-year journey began in 2022 and will continue as a focal point for our talent strategies.

Unlock Our
People’s Potential

Attracting and empowering our talent to solve the world’s most complex problems
Our focus in 2022 was on attracting and developing our talent to support our ambitions
and build a global talent powerhouse ready and able to solve our customer’s toughest
challenges. We successfully attracted talent during an incredibly competitive talent market,
and deployed retention and recognition efforts to positively impact our attrition, which
remained below market during the “great resignation.” We continue to invest in developing
our leaders and managers to create a workplace where employees have the freedom,
opportunity and coaching to unlock their potential and accelerate their impact.

Build the Workforceof the Future

Developing critical skills and enabling people to focus on what matters most – learning,coaching and leading – across every level and function
We invest the time, resources and energy to develop the skills our people need to innovateand learn across every level and function. We offer targeted learning opportunities at
every level. This year, our leadership team defined areas of focus to enable our vision, andwe implemented Leading ADI Forward, our flagship leadership program. To support skillsof the future, we designed and implemented a Software Engineering Reskilling Program,specifically designed to address ADI’s evolving talent needs. For managers & employees,
we provide trainings related to management essentials, technical and business skill
development and DEI to prepare employees to lead today and into the future.

Foster Inclusion
and Ensure Equal
Opportunity

Taking a global approach to ensuring equity and inclusion
We are continuing our mission to engage in global diversity dimensions and pursue equity
in hiring practices, compensation, and access to development. This means bringing
awareness and discussion to global issues that impact our employees and the communities
they are in. Our Diversity Council and Working Group continue to focus on understanding
and to share learnings and insights.

Engage Employees
in the Momentsthat Matter

Listening and responding to employee feedback
Throughout the year, we conduct employee surveys and listening activities to gain
feedback and learn more about the company’s strengths as a workplace and opportunities
for improvement. This enables us to act and ensure employees have the tools they need to
grow and prosper. In FY22, we received more than 16k employee comments that provided
insights into key topics that drive engagement. Among our continued strengths, 76% arelikely to recommend ADI. Our biggest opportunity to impact engagement and culture wasleadership, resulting in the Leading ADI Forward program.

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82

Our Engagement
Over the past six decades, we have built a diverse
community of problem solvers spanning 30+ countries
across the consumer, industrial, healthcare, andcommunications industries. We aspire to create anequitable and inclusive environment where people canimagine the future and then build it.
We view engagement as employee investment of theirenergies (cognitive, emotional, and behaviors) toward
positive company outcomes. To ensure employees
have what they need to thrive, we execute our ADI Pulse
survey using the Glint Engagement Platform every
year. The Glint platform provides flexibility, security,
and artificial intelligence to determine the factors that
contribute to or take away from employee engagement.
Through this platform, we measure metrics ofengagement, employees’ willingness to recommend
ADI (that is, eNPS), and their overall happiness (such as
eSAT) on an annual basis. We use shorter ADI “mini” Pulse
surveys, town halls, and roundtables to dive deeper into
key topics and track our progress against core actions.
In February 2022, we surveyed our employees as a
newly combined company following the acquisition of
Maxim Integrated. Typically, companies experience a ten
percent drop in engagement as they navigate integration
issues. ADI saw a dip in engagement but at half the rateof most acquisitions. ADI employee engagement was 75
out of 100 points, down one point versus our peers. OureNPS of 76 and our eSAT score of 74 were both on parwith the industry average.
Over 83% of our employee population participated,which is down four points from our previous all-timehigh. Employees submitted over 16,000 comments andsuggestions that help us better understand employee
sentiment and key focal areas to improve the overall
employee experience.

To ensure honest feedback and anonymity, we leverage
Glint’s security and anonymous thresholds so comments
can’t be tied back to an individual. AI-driven analysis
helps us correlate the most important drivers ofengagement to prioritize action plans. Removing barriers
and streamlining processes, reinvigorating our sense of
belonging, and developing leaders were key themes thatemerged from the survey. As a result of the feedback,we are deploying multi-year, enterprise-wide programs
to improve performance management, belonging,recognition, and leadership development. We are working
in partnership with leaders, managers, and employees toalign and address these opportunities at a local level.
While ADI’s engagement was down vs last year, weoutperformer our peers on sixteen attributes andidentified seven areas for focus and improvements.
Our highest scoring areas include respect, purpose,manager motivation, and authenticity. Employees
were energized by the company’s vision and ambition,find their work meaningful, feel they can bring theirauthentic selves to work, and are inspired by their
managers and leaders. Key areas for improvement thatemerged from the survey include improving recognitionand performance management, removing barriers to
execution, setting boundaries to ensure people candisconnect from work during non-work hours anddialing up leading with empathy.

2022 SURVEY RESULTS
Our engagement results declined as onboarded new
employees post integration of Maxim Integrated in 2021:

75/100 pts.

Global engagement (-4 points vs. 2021)

76/100 pts.

Likely to recommend (eNPS -4 points vs. 2021)

74/100 pts.

Happiness to work at ADI (eSAT -3 points vs. 2021)

83%

Global Participation Rate (-4 points vs. 2021)

ADI strives to be the destination for the mostinsatiably curious to do their best work andengineer good. We empower both innovationand our employees, and we are building theworkforce of the future through our ongoingcommitment to attract and retain the brightest
minds; enhance employee development;
engagement and recognition; and ensure adiverse and inclusive culture.

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83

Diversity, Equity, and Inclusion
Addressing Inequity through a Holistic andGlobal Approach
We continue to transform the way we operate so
inclusion and equity become an integrated part of how
we do business. This means redesigning our talent
practices to address systemic barriers and building aculture that confronts bias.
At a high level, our focus is on programs that target
societal and organizational practices. From a societal
perspective, we are enhancing external partnerships
and launching programs that increase access to STEM
education for communities that are historically denied
access. From an organizational perspective, we arerevising our processes to mitigate bias and customizing
our training programs to accelerate the development ofunderrepresented individuals.

We are also evolving our mission to include global
dimensions of diversity. This means collaborating with
regional teams to understand what marginalization
looks like in countries outside of the U.S. We reaffirm
our commitment to engage more of our global locations
in our DEI journey.

Engaging and Empowering Employees
To drive our work, we are engaging employees inthe design of our future strategy. This ensures that
programs designed to address underrepresentation
are co-created with individuals who represent thosecommunities. We have a Global Diversity Council that is
made up of senior leaders from across our organization.
Together, they represent a mix of business units,
regions, genders, and races.

“To change culture and foster
inclusion, we must address
the underlying systems thatunintentionally reinforce
marginalization. In the year
ahead, we will work to mobilize
our global workforce and develop
DEI champions across our global
locations.”
TEA H., Director, People and Culture

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84

2026 DEI GOALS**

29%

global female manager population

26%

global female engineering (exempt) population

9%

combined Black, Hispanic, and Latinx employee
population in the U.S.

Enhancing and Supporting Diversity
It is important that our leadership teams reflect thediversity of our employees and the communities we serve.
We recognize that employees of different identities
encounter different systemic and cultural challenges.
Understanding these unique experiences allows us
to create impactful learning programs that build
community, drive performance and advance gender andracial equity.
Elevate, our flagship leadership development series
for women included 90 participants this past year
across early-, mid-, and senior-career stages.
Participants in the program developed professional
skills and business acumen through a combinationof 360 feedback, action learning, mentorship, andcoaching. The program emphasizes career ownership,enhancing business insight, increasing customer
focus, developing strategic mindsets, and improving
situational adaptability, while also growing participants’
network and visibility. Cohorts were thoughtfully
assembled to include representation from technical,
sales and corporate functions across Asia, Europe, andNorth America.
*

ADI enrolls employees in a leadership academy forpeople of color. In 2022, we worked with participants
to create individual development plans, which provide
participants the opportunity to work one-on-one withan advisor. Participants will continue to benefit froman open-door invitation with their advisor throughout
their career.
SETTING TARGETS TO DIVERSIFY OUR WORKFORCEFor years, ADI has worked to advance gender equity
and create an environment where women have thesame opportunities for growth and success as theirmale colleagues. We were excited to be named
one of “The World’s Top Female-Friendly Companies”
by Forbes magazine in 2022 and are renewing
our commitment for continued change. We haveaspirational targets that outline the progress we hopeto make in increasing female representation. Overthe course of a 5-year period, we look to increase our
global female manager population from 23% to 29%
and our global female engineering (exempt) populationfrom 17% to 26%. Currently, our global female manager
population is 25% which puts us on track to meet our
2026 DEI goal. Our global female engineering (exempt)
population is currently 18.5%.*

We are also increasing our focus on racial equity in the
U.S., and more attention will be placed on addressing
systemic issues that impact our employees of color.
Like our aspirational targets for women, we havedeveloped targets for increased representationfrom Black, Hispanic, and Latinx communities. Overthe course of a 5-year period, we look to increase
our combined Black, Hispanic, and Latinx employee
population in the U.S. from 6% to 9%. Currently, our
combined Black, Hispanic, and Latinx employee
population in the U.S. is 7%, which puts us on track tomeet our 2026 DEI goal.

For this and future exempt calculations, the population will be identified using internal Career Band classifications rather than country-specific Exempt status definitions. This adjustment provides greater consistency
and accuracy.

** To be achieved by end of FY2026.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Employee Networks
We also have a growing list of employee networks
that are the driving force behind our evolving culture.
Comprised of over 3,000 members across the networks,
they foster community, accelerate professional
development, and impact organizational policy.
Each network has a formalized leadership team andstructure, which includes an executive sponsor.

photo

We currently have six networks organized arounda dimension of diversity. Below are some of theirrecent activities:
ANALOG VETERANS NETWORK (AVN):
HONORING ADI’S VETERANS AND THEIRSERVICE TO OUR COMMUNITIESPRIDE AT ADI: BUILDING OUR ADI COMMUNITY WITH
PRIDE THROUGH VISIBILITY, ALLYSHIP, AND EQUITY

AVN currently partners with Delta Dog, rescuing
homeless dogs and training them to be service dogs
for veterans with PTSD, traumatic brain injury, militarysexual trauma, and other challenges.

Thanks to the network, we are now corporate sponsors
of Out in Tech, the largest nonprofit community of
LGBTQ+ tech leaders. We have held an onsite event for
Out in Tech members and continue to partner with themon outreach and engagement.

NEURODIVERSITY NETWORK: DRIVINGNEURO-INCLUSION AT ADI
As part of the network’s first initiative, they are
helping the DEI team launch a neurodiversity hiring
pilot in partnership with Mass General HospitalAspire aimed at increasing access to employment forneurodivergent candidates.
PEOPLE OF COLOR AND ALLIES: ADVANCING RACIAL
EQUITY AT ADI BY FOSTERING A CULTURE OF
INCLUSION AND ADDRESSING SYSTEMIC BARRIERSPOCAN has been instrumental in strengthening ourpartnerships with Society of Hispanic Professional
Engineers (SHPE), National Society of Black
Engineers (NSBE), and Historically Black Collegesand Universities (HBCUs).

WOMEN’S LEADERSHIP NETWORK: EMPOWERINGWOMEN TO LEAD ADI FORWARD
Last year’s Break the Bias campaign brought our global
teams together in recognition of women’s equality. This
year the network is helping us redesign the Elevateprogram and strengthen our partnership with SWE.
YOUNG PROFESSIONALS NETWORK: BUILDING THE
FUTURE LEADERS OF ADIYPN has been active in engaging members in learningand informational sessions. These sessions connect
early-career employees with senior leaders to discusssubjects around career development, how to break freeof barriers, and ethics.

Young Professional Network
Summit 2022
The Young Professionals Network Philippines
Chapter (YPN PH) hosted the YPN Summit 2022
in both live and virtual platforms, welcoming
over 400 participants via a combined live
audience and Microsoft Teams webinar.
Spotlight programs focused on company
culture, personal and career development,
community exposure, and engagement
and networking.
A highlight of the Summit was the naming of
the Ten Outstanding Young Professionals 2022,
which allows YPN to recognize ADI Philippines
employees in their early career who havesignificantly contributed to ADI’s businessgoals through their leadership, creativity,and innovation. This year, nominations broke
all-time YPN records with over 140 nominations
and over 90 candidates. To inspire and motivate
more professionals to excel in their careers,
the Ten Outstanding Young Professionals 2022
Awardees created a short video presentation
showcasing some of their career highlights andhow they made excellence happen.

85

ANALOG DEVICES 2022 ESG REPORT

Building Educational andProfessional Partnerships
We continue to expand our outreach and support
higher education, including engagement with a HBCU,
which includes sponsoring a research project thatenables students to dedicate time to exploration andinnovation. In addition, we continue our outreach toprofessional associations that serve underrepresented
communities. We host educational talks and focus on
skill building to increase candidate capabilities, as well
as foster greater brand and STEM awareness.
In 2022, we participated in new outreach efforts
to attract more diverse candidates, including twolarge conferences:

ABOUT ADIOUR SOLUTIONSADI HORIZON

86• The Boston Society of Women Engineers: Held in our
Boston office, the evening included networking and atour of our projects in the Analog Garage.
• IEEE Women in Engineering (WIE), East Coast
Forum: As the organization within IEEE dedicatedto supporting and promoting women engineers andscientists, the East Coast Forum typically draws
mid-career professionals for discussions about ourbusiness and their own career aspirations.

• SHPE National Convention: the country’s largest,
annual gathering of Hispanic STEM students andprofessionals.

• The Dallas Society of Women Engineers: Candidates
joined us in our Dallas office for networking with anemphasis on software engineering opportunities for
local women.

APPENDICES• The SHPE Bomba Blast Résumé Review and Mock
Interview Workshop: Held in our San Jose office,this event drew approximately 50 students from
Silicon Valley and the San Francisco Bay Area to hear
our keynote speaker and to meet with ADI hiring
managers and ADI volunteers, who offered valuablecritiques on résumés and mock interviews.

• The Grace Hopper Celebration: a premier conference
for women in computing and software, which led
directly to the hiring of six full-time employees andthree interns.

In addition to our dedicated initiatives in North America
meant to increase the number of applications fromBlack, Hispanic, and Latinx students, ADI teams are also
forming partnerships with professional associations
that traditionally draw more experienced professionals.

OUR COMMUNITY

ADI employees at last year’s Grace Hopper Celebration

ADI employees at last year’s SHPE National Convention“Attracting best-in-class talenttakes the entire organization
working together to build ourbrand, challenge our biases,
and think creatively about how
we connect with candidates.
Outreach partnerships enablebusiness teams to take the leadin attracting the most diverseand qualified candidates for theirroles. We are excited that hiring
managers have new resources
and support available to them.”
NATALIA H., Lead Talent Acquisition Specialist, ADIANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

87

TalentRecruitment and Retention
At ADI, we invest in our people, so they cancontribute to solutions that make our world
a better place. This includes our efforts torecruit and retain creative problem solvers
from around the globe.
Targeting the Best Talent
We use a data-driven approach to better understandthe labor market and ensure our recruiting efforts are
wide-reaching and effective. Leveraging data from athird-party partner, we gain insights that enable us
to pinpoint which markets to target when hiring newtalent. To facilitate our success in competitive markets,
we are adjusting both our programming and our teamstructure. This includes having dedicated regional
recruitment teams who understand local market
dynamics. We have enhanced our outreach efforts toensure we are reaching candidates with high demandskills. These efforts include creating customized
regional webpages and paid marketing campaigns onsocial media and partnering with organizations to help
us connect with diverse candidates. We also continued
to build on our FY21 launch of an enhanced recruiting
strategy in North America to help increase the number
of applicants from historically underrepresented
communities. Because of our acquisition andsubsequent integration of Maxim, we added to ourgeographic footprint of major sites in which to recruit
top talent, both domestically (Texas and Arizona) as wellas internationally (Italy, Singapore, and Thailand).

Engaging Early-Career Talent
We are committed to developing and hiring the next
generation of innovators. We’ve continued to expand
our outreach to colleges and universities around theworld—including two new partnerships with HistoricallyBlack Colleges and Universities (HBCUs) launched in
FY21—to encourage STEM education and create a strong
recruiting pipeline of talent. In FY 2022, we participatedin campus events at 54 colleges and universities in North
America. Internships at ADI also provide a pathway toemployment and enable interns to gain critical on-the­job experience. In FY 2022, more than 186 students didinternships or co-ops at ADI North America. Additionally,
we expanded our early-career recruitment in India by
doubling the number of universities that we visited andrecruited from. In North America, scholarships wereawarded to Society of Women Engineering groups at Cal
Poly and Oregon State University, and Texas A&M. At all
three schools, ADI hosted unique events for students aswell. Also in North America, summer intern programs will
focus on social, development, and community servicerelated projects—each major site will have a designatedtask force responsible for hosting these events. All
mentors will be paired with a mentor through a platform
called MentorcliQ.

ADI is RippleMatch’s 2022 Campus Forward Awardwinner. This award recognizes the top early-career
teams and programs in the nation.
ADI officially became a SCALE Partner this year.
• SCALE is the pre-eminent U.S. program forsemiconductor workforce development in the
defense sector. Led by Purdue University, fundedby the Department of Defense, and managed by
NSWC Crane, SCALE facilitates a different approach
to training highly skilled U.S. microelectronics
engineers, hardware designers, and manufacturingexperts, ensuring U.S. leadership in this importantarea.
SUPPORTING EMPLOYEES THROUGHOUT
THEIR CAREERS
Retention is a key priority. We foster belonging andcommitment by taking a holistic approach and directing
our energy on programming that promotes inclusion,
engagement, continued learning, and enhanced
rewards and recognition. We are continuously evolving
our efforts and are proud that our retention rate in FY22
was 87%, and ADI’s attrition remained below market,
especially with the continued impact of COVID-19, the“Great Resignation,” and our acquisition of Maxim. Dueto a combination of strong retention and focused hiring,
our total FTE population increased by 3.1% in FY22.

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88

Talent Development
Our culture is driven by lifelong learners and a genuine
curiosity to innovate and solve our customers’ toughest
challenges. We are committed to aligning that curiositywith opportunity, providing employees with educational
experiences that match their desire to learn andinnovate, so they can grow their abilities to new levels.
Through a combination of hands-on, collaborative, andformal learning programs, employees can explore theirinterests and build new skills that both equip them fortoday and ready them for tomorrow.

Learning for Everyone
Learners at ADI have choices. Development teams
across engineering, sales, operations, and humanresources come together to deliver experiences thatquicken onboarding, enhance performance, build
managerial skills, and ready employees for more
complex roles.
We provide mechanisms to both request training
in particular subjects and to propose trainingthat could be provided by subject matter experts.

We regularly engage with human resources business
partners around the globe to assess training needs
and survey potential students and their managers. In
addition, on the Strategic Engineering Training website,
accessible through the ADI intranet, there are forms
that can be filled out that submit training requests toour database. These requests are prioritized basedon demand and potential impact on our company’s
strategic roadmap. Based on these requests andresults from our surveys, we update course offerings
to ensure our suite of learning programs align with themost employee-requested topics.
Courses can be offered through various modalities: live
instruction, digital self-paced content, or a new hybrid
approach where digital learning is reinforced throughscheduled meetings with instructors and mentors
throughout the program where curricula-basedmaterial are reviewed and demonstrated. Course runtimes range from minutes to months, so employees canselect the content that best fits their needs.

3,570
Digital, on-demand courses for a total of 6,747 hours ofcontent completed by employees
Courses include those available through online partners
such as LinkedIn Learning and EdX.

ANALOG DEVICES 2022 ESG REPORT

Leading ADI Forward
In the autumn of 2022, ADI held a leadershipdevelopment event in California, which was attended bynearly 300 top-level leaders. The event’s goals were toestablish expectations for enterprise leadership going
forward at ADI and determine the role of leaders inachieving the company’s long-term strategy. The event
aimed to increase awareness of enterprise leadershipcapabilities and facilitate action planning to deliver
ADI’s strategy.
To prepare for the offsite, three regional strategy
sessions were conducted, focusing on understanding
the value chain, value creation, the customer
experience, value capture, strategic resources,
and managing innovation portfolios while balancing
investment trade-offs. These sessions leveraged reallife scenarios and group discussions to provide a better
understanding of these topics.

ABOUT ADIOUR SOLUTIONSADI HORIZON

The event consisted of seven breakout sessions withthought leaders, where attendees participated in small
group discussions and activities covering various topics
such as emotional intelligence, global cultural literacy,effective communications through storytelling, internaltalent mobility, enterprise leadership, decision making,and design thinking.
Featured keynotes from management, including Vincent
Roche, Chief Executive Office and Chair of the Board of
Directors, and guest speakers such as Erica Dhawan,
Founder and CEO of Cotential; Megan Smith, CEO of shift7;and Liz Wiseman, author of Multipliers: How the Best
Leaders Make Everyone Smarter, inspired and conveyed
the attainability of our long-term strategy as a crucial goal.
The event offered attendees the chance to collaborate
with other leaders, make personal commitment plans,
and receive toolkits for cascading their learning
throughout the organization. It aimed to embrace a new
vision centered on growth and ambition, grounded incourage and agility, and committed to positive impact
for ADI’s people, customers, and the planet.

OUR COMMUNITYAPPENDICES

89“I enjoyed the networking andoutside speakers, it’s great
to see how our leaders viewthe importance of enterpriseleadership and establishing ahealthy culture.”“The speeches from our corporate
leaders were very inspiring, andthe message is clear that thevision is an achievable goal.”— Conference Attendees

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZON

Building Engineering Skills for the Future
To expand both engineering skill sets and the understandingof the fundamental concepts associated with application
spaces, we are creating both skills-based instruction andcommunities of practice. The skills-based instruction
lays a foundation that enables team members to work invarious groups applying the skills they have learned to the
problems presented by our customers. The communities ofpractice effort supply in-depth context for the application
space where the skills are applied. Embedded programmingfor industrial communications is not the same asembedded programming for automotive applications. The
communities will be led by senior-level subject matter
experts that will provide mentoring and examples of how
these new skills can be applied to various application
spaces. Market knowledge and system-level understanding
allows for more effective use of the newfound skills. In
addition, global networks of team members with similarskills are being formed to provide opportunities forcollaboration and interaction. These networks are being
moderated by senior-level subject matter experts.
The Software Engineering Reskilling Program is
specifically designed to address ADI’s evolving talentneeds by expanding the skills of our technical workforce
in the software domain. Recognizing that our employees
are core to our competitive advantage, the program
trains our existing engineers and immediately deploys
them on a project that exercises their newly learned
software skills. The program has been updated basedon employee feedback and now consists of a five-week
instructor-led course, an assigned software projectaligned to their current objectives and expert mentoring
to further support them throughout their journey.
In addition to skills-based training, ADI is also
augmenting its offerings around tools training.
Increasing the awareness of the tools that are available
and how to effectively use them can have an enormous
impact on both the efficiency of employees and their job
satisfaction. An example: we have recently teamed up
with MathWorks to provide fundamental training on its
tools, with training available to all ADI personnel.

OUR COMMUNITYAPPENDICES

90

Meeting the Needs of a Mobile
Sales Workforce
Our sales teams and channel partners benefit from ourculture of learning and curiosity. To meet the uniqueneeds of our field sales teams, our Customer Learning& Enablement group and the ADI events team assessand design experiences that are suitable for a remoteand on-the-go workforce.
In December 2022, more than 500 field applicationengineers from around the world gathered in Boston fora week-long training conference. To create a successful
training conference, a cross-functional team that
included senior executives, business unit leaders,technology group experts, customer learning, andevent teams designed a combination of live, in-person
training and experiences. This included 12 parallel
tracks each day, over 200 individual training sessions,workshops, and over 90 demonstrations of ADI andpartner hardware, software, and solutions.
All 200+ training sessions were recorded, and even 10
weeks after the event, learners are still benefiting fromthis rich content. Within those 10 weeks, there havebeen over 1,600 views by 332 unique viewers, totaling
26,000 minutes of training time—the equivalent of over
10 weeks of training.
The continued usage of this training content after the
conference highlights the relevance and impact of our
growing learning libraries. With the help of artificial
intelligence and an advanced search engine, employees
can search the videos for spoken words, text, andgraphics, which increases efficiency and provides users
with the necessary information when and where they need
it. This reduces search and research time and ensures that
we provide our customers with the information they needas quickly as possible. Our focus is not only on creating
great content, but also on providing employees with thetools they need to use and capitalize on these assets.

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91

Driving Excellence and Problem Solving

Charting a Career

ADI’s Global Operations and Technology (GO&T)
teams are on a constant mission to develop people,
drive improvement, and deliver greater customer
value. Through the design and delivery of employee
skills development programs addressing values of
Excellence at ADI, Quality Culture, Analytics, andScientific Problem-Solving, the organization thrives
on growing at the forefront of lean-agile practices,
smart manufacturing, technology innovation,
Six-Sigma tools, and high quality standards. With
topics such as enterprise alignment and strategy
deployment, manufacturing resilience development,
and productivity optimization, the Excellence at
ADI program reinforces ADI’s culture of continuous
improvement; approximately 50% of GO&T employees
have completed the Excellence at ADI and Quality
Culture programs. The Scientific Problem-Solving
training offerings target skills related to defectelimination, operational improvement, systematic
root cause analysis, and the development of highperforming systems, giving employees exposure toconcepts around process improvement, bottom-line
improvement, business responsiveness, and customer­
centricity. Switching to a more flexible virtual format,
the team navigated the complexities of a distributed
and remote workforce, and employees managed tocomplete over 7,000 hours of training content.

Careers at ADI can take many paths. To help employees
navigate the opportunities, we have the ADI Mentoring
Program (AMP). In FY22, we paired 489 employees witha mentor. The program matches participants basedon area of expertise, personal objectives, experiencelevel, and a few personality characteristics. The
structured design of the program means participants
have access to guides, milestone trackers, andreminders. AMP follows the success of previous, moretargeted mentoring programs launched for our Young
Professionals Network and our Women’s Leadership
Development program.

ADI also has dedicated learning teams supporting
extensive on-boarding, on the job, and hands-on
employee skill development programs conducted
regularly across ADI’s manufacturing operations sites.
These specialized programs address the following
broad categories: new employee guidance, training
on workplace safety, supervisory skill development,
advanced scientific problem-solving tools: Lean
Management, Six Sigma Body of Knowledge, Agile
Management, Total Quality Management, data analytics,
and functional technical skill development (for example,
failure analysis, reliability, quality management
systems, equipment operation, platforms, responsible
sourcing, material inspection, and quality assurance).

“One of the main differentiators at
ADI are the people who work hereyou learn something new every
day and help is always around, one
just needs to ask”
SANJANA C., Staff Engineer- Digital Design
Engineering, India

The training ADI provides enables team members toboth expand their knowledge base and to deepen theirunderstanding of application spaces and markets. The
skills training gives confidence to the team members,
knowing they have the tools and capabilities toaddress problems and find solutions. The communities
of practice element, coupled with the mentoring
programs, give team members access to multiple
product lines and new ways to solve problems. Bestpractices are shared between groups, and process
refinements are created. Collaboration is key toleveraging varied skills between groups, and we are
creating the infrastructure to enable this.
In addition to the training and community efforts, ADI
also participates in multiple industry consortiums andtechnology events. For example, ADI sent a team to
the Grace Hopper Conference where they shared theirexperiences with prospective employees and college
students, helping to create a pipeline of motivatedapplicants for our growing needs in the SW realm.
We also participate in IEEE events and industry tradeshows, where our employees have an opportunity
to both define next-generation technologies andunderstand industry trends.

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92

Compensation and Benefits
As a knowledge-based business, we believe that theskills, expertise, and experience of our employees are
unique and critical factors in our overall success. The
competition for talent in the technology sector is fierce
globally. To drive continued successful operational andfinancial performance, our total rewards package isdesigned to attract, motivate, and retain world-classtalent through market competitive compensation
packages and highly prevalent benefits that meet theneeds of our employees worldwide.

Compensation
The Company completed integrating Legacy ADI andLegacy Maxim job architectures and compensation
structures in 2022. The newly implemented harmonizedjob architecture is designed to better support our HR
processes and programs and to enable ADI to attract,develop, engage, and move talents across different
business units, functions, and geographies. This
also helps create greater transparency for careerdevelopment and progression. Our job architecture
provides alignment to market practice and ensures weoffer market-competitive pay packages consisting ofbase salary and performance-based compensation (suchas our Corporate Bonus Plan and Sales Incentive Plan).
In addition, a portion of employees at professional levels
are eligible for stock awards.
Pay for performance is a key component of ourcompensation philosophy. From the CEO to thefrontline worker, every employee participates in either
our Corporate Bonus Plan or Sales Incentive Plan. Our
Corporate Bonus Plans and Sales Incentive Plan link
employees’ compensation to ADI’s revenue and operational
performance goals as we believe having all employees
striving to achieve the same goals creates a common drivefor excellence and celebrating achievement.

We examine our compensation programs annually,
including in-depth analysis against industry market
data in all the regions where we do business, to ensure
our compensation programs remain competitive andcompliant. For example, beginning in June 2022, eligible
employees now can purchase ADI stock at discountthrough our new Employee Stock Purchase Plan. Ourcurrent global participation rate in this program is nearly
60%, creating a sense of belonging and ownership of ourcompany at all levels of the organization.

Benefits

We also have various recognition programs that allow ouremployees to be recognized for going above and beyondin making important contributions to ADI’s businessresults and success. It is important for ADI to continue
recognizing and celebrating employees who exemplify
our Company’s Core Values. In 2022, more than 17,000
recognition moments were recorded globally.

Globally we provide comprehensive healthcare, shortterm and long-term disability plans, life and accident
plans, retirement plans, education assistance, tuition
reimbursement, paid time off, and more.

Pay Equity
ADI is deeply committed to providing equitablecompensation regardless of gender, race or ethnicity.
Our goal is to attain 100% pay equity for employees
performing similar work, taking into account factors
such as position, location, experience, tenure andperformance. ADI is a dynamic organization with
employees joining, leaving, and moving to newopportunities within the company. As a result we
conduct regular global pay equity assessmentsof employees performing similar work and makeadjustments where appropriate. To assist in our efforts,
in addition to our internal measures we also use athird-party pay-equity tool to assess pay equity from astatistical perspective. Most recently we have achieved<1% pay equity difference for females and males
globally*. We consider total compensation, includingbase salary, bonus, and stock compensation.
*

ADI’s pay equity analysis and adjustments were made in FY23.

ADI is proud to support our employees with benefits
programs that address their physical, mental, andfinancial well-being to help them live healthier andhappier lives. We provide market competitive benefits
to our employees around the world. Our benefits
programs vary by country and are reviewed regularly tomeet the changing needs of our global workforce while
adhering to local laws and regulations.

In addition, we recognize that employees sometimes
need flexibility in their work and life flow, and we havevarious leave programs to allow employees to take timeaway from work. As an example, ADI believes in theimportance of providing parents with time to bond with
their new child. Our parental leaves vary by country andare often subject to local regulations.

ANALOG DEVICES 2022 ESG REPORT

ADI’s Flexible Work Policy supports employees
by providing flexible options in support offluid working environments. Our hybrid modelallows eligible employees the flexibility towork an in-office and remote flex schedule(3 days in office, 2 remote) or the opportunity
to flex working hours. We believe that mobile
technology, the nature of many work activities
and our responsibility to reduce carbon
emissions require a new philosophy and culture
regarding where and when work is conducted.
We also continued to support our employees in 2022
in response to COVID-19 and return to the office. Our
employees’ health is a top priority and we continued
to offer COVID-19 paid leave, where applicable, onsite
vaccines and onsite testing globally.
We have employees in other parts of the world not
addressed in the summary below that we also provide
competitive benefits programs. With the Maxim
integration, we have continued our efforts to harmonize
the offerings by countries around the world. The U.S.
benefits harmonization was completed as of January 1,
2022, and benefits harmonization for additional countries
will be completed in 2023 and beyond.
U.S. BENEFITS OVERVIEW
ADI supports employees in the U.S. with benefits
programs that include medical, dental, and vision
coverage, 401(k) company and matching contributions,paid time off, and an employee assistance program.
Our 401(k) plan is highly competitive, providing acompany basic contribution of 5% of eligible pay, plus
up to 3% matching contributions totaling up to an 8%
company contribution. We believe that financial well­being contributes to overall well-being, and our 401(k)plan encourages a partnership with our employees tosave for their future.

ABOUT ADIOUR SOLUTIONSADI HORIZON

95%

of U.S. employees
participate in ADI’s 401(k) plan.

OUR COMMUNITYAPPENDICES

93

APAC AND EMEA BENEFITS OVERVIEW
ADI supports employees in APAC and EMEA countries
offering comprehensive supplemental benefit programs
in addition to statutory benefits that according to local
market practice includes the following items:

Additional U.S. Benefit Program highlights:• Supplemental medical, dental, and vision coverage.

• Six weeks of fully paid gender-neutral parental leave
benefits (for birth, adoption, or foster placement) and• Annual preventive health screening.

• 10 weeks of paid medical recovery time throughdisability for birth-giving parents.

• Education assistance, tuition reimbursement.

• Generous fertility benefits through ourUnitedHealthcare (UHC) medical options andadded in 2023 fertility benefits through our Kaiser
HMO offerings.

• Perks and allowance such as transportation
allowance, meal voucher, holiday allowance.

• Healthcare coverage for gender affirming care.
• Medical premiums based on annual base salary, toimprove health care affordability for employees atlower base salary levels.
• Benefits for part-time employees, including
healthcare, working 20-plus hours per week.
• Virtual visits for both medical and mental health visits.
• Six confidential, no-cost counseling sessions, perissue, under our Employee Assistance Program.
• Adoption financial assistance.
• 10 backup child-care or adult-care days, and accessto tutoring assistance through Bright Horizons.
• No-cost college coaching services to employees andtheir families as they purse continued education.
• Fitness reimbursement and no-cost onsite gym
facilities at major locations.

• Supplemental retirement plan.
• Employee assistance program.

• Additional annual leave, sick leave, parental leave, etc.
• Employee club activities such as wellness activities,
family day, outing, annual party, etc.
With the Maxim integration, we focused on developinga harmonized benefits programs by country to provide
a seamless employee experience, based on consistentguiding principles:• Market competitive, enabling the Company to attract,
engage, and retain world-class talent.
• Neither negative overall financial impact nor windfall
to employees.
• Financially sustainable to the Company.
• Legally compliant.

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94

Analog Devices Foundation Connects to Communities
Our Outreach

FISCAL 2022 FINANCIAL AND
ACHIEVEMENT HIGHLIGHTSLEADERSHIP
Executive Advisor

Our Mission:
To engineer a more sustainable future for ourplanet and people.
Established in 2020, the Analog Devices Foundation
supports communities around the world where ADI
employees live and work. The Foundation supports
employee involvement with qualified nonprofit
organizations through matching gifts for both an
employee’s time spent volunteering and money they
contribute. We also encourage employees to propose
local charitable organizations that might increase oursocial impact by aligning with the following priority areas:Protect the Environment

We support initiatives that
help reduce carbon emissions,conserve water, and reduce waste,
while promoting biodiversity andrenewable energy sources.

$800,000
Community Grants

Board of Directors$2 Million

Employee Donations andFoundation Match>5,000PRASHANTH DANMAHENDRA- LEIBHOLZRAJAH,Chair

MARIYA
TRICKETTFoundation Officers

Hours Volunteered by
Employees

Improve Access to Education

We support initiatives that broaden
access to high-quality educationand job opportunities in the areas ofscience, technology, engineering,and mathematics (STEM) and support
initiatives that provide underserved
communities with the tools theyneed to progress and thrive.

>900

Advance Societal Change

20

We support innovative initiatives
that help solve community
problems, eradicate poverty, andpromote health and well-being.

VINCENTROCHE

Unique Organizations
Supported

Countries Impacted

JOHN
WEIDMAN,
President

CHRISTINADERVIN,
Executive
Director

SHELLYSHAW,Secretary

MIKE
SONDEL,
Treasurer

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95

GRANT RECIPIENTSSUPPORTING UKRAINIAN HUMANITARIANRELIEF EFFORTS
The challenges the people of Ukraine are facing spurred
action among ADI employees and the Analog Devices
Foundation. Through employee donations and donation
matching provided by the Foundation, over $650,000 was
contributed to response and relief effort organizations
including the International Committee of Red Cross andInternational Federation of Red Cross and Red CrescentSocieties. The Foundation also made grants to localorganizations in Romania and Poland that help Ukrainian
refugees get resettled. These organizations include
Crucea Rosie Romana, which is focused on helping
refugees at the border, Asociatia O Masa Calda, which
provides medicine and supplies to hospitals in Ukraine,and the Happy Hope Foundation, which provides HopeKits for Ukrainian children seeking refuge in Poland.

ADI employees also supported relief efforts by donatingtime through efforts such as a bake sale at the ADI
Dublin office, which raised funds for relief organizations
and helped refugees in their local communities findhousing, transportation, and jobs.
ADVANCING VOCATIONAL STEM EDUCATIONThe Analog Devices Foundation funded a $46,000 grantto the Minuteman Regional Vocational Technical schoolin Massachusetts to provide equipment for its Robotics
and Automation program. To enhance this educational
program, the grant was used to purchase roboticarm equipment and software that supports students
with high quality academics coupled with hands-on
project-based learning in robotics, automation, andengineering. Students who complete this curriculum
achieve certifications and knowledge in areas including

Industry 4.0, smart sensors, principles of engineering,
engineering design, and digital electronics.
PROMOTING ENVIRONMENTAL CONSERVATIONThe environmentally sensitive location of Lough
Gur in Limerick, Ireland, is focused on protection
and preservation for the benefit of the planet andcommunity. As the only lakeshore park in the region, it
is open to the public and promotes conservation. The
Analog Devices Foundation provided a $68,000 grant tohelp fund construction of a bird-hide structure that will
be used to observe birds and wildlife at close quarters
for educational purposes. Funds will also be used todevelop educational programs, and workshop rooms
for visiting schools to use for research projects andadvance STEM learning.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Employee Giving: Community Activities Board
ADI employees’ passion and dedication have been
instrumental in positively impacting communities
across the globe. Their unwavering commitment toour core values of “Give. Care. Do.” is the driving force
behind our mission to make a difference.
Recognizing the need for a more structured
approach to community service, ADI employees
established the Community Activities Board (CAB) in
2022. This global network of individuals is dedicatedto creating and facilitating employee engagement
initiatives that promote culture, recreation, andsocial welfare in their local communities. CAB’s
objectives include providing meaningful volunteer
opportunities with local organizations focused on
improving lives. As a result of their commitment, ADI
employees have raised tens of thousands of dollars
for various charitable causes and increased thenumber of volunteer hours by 50%.
Additionally, in 2022, ADI employees united on a global
scale to address two pressing social issues: providing
children with the tools they need to succeed andalleviating food insecurity. Through their collective
efforts, ADI employees continue to make a positive
impact on the world. Highlights of their efforts include:

Preparing Children for
Back-to-School SuccessAround the world, ADI employees helped make thetransition back to school a little easier for children
who otherwise might not have had the schoolsupplies they needed to succeed. Employees
contributed school supplies and volunteered to fillbackpacks to provide needy students with items forclassroom success. Partner organizations included:• Society of St. Vincent de Paul in Ireland• Lazarus House• Cradles to Crayons• House of Hope
• Family Giving Tree
• In the Philippines, employees partnered with a local
elementary school to provide haircuts, fluoride
treatments, and school and grooming supplies.

Fighting Hunger Globally
Employees globally stepped up to help fight foodinsecurity. Initiatives ranged from providing meals toschool children in India to donating non-perishable foodto local food banks in North Carolina and Washington
in the U.S. Employees in Canada, meanwhile, donatedthousands of dollars in support of the Greater
Vancouver Food Bank, and employees in Michigan
helped gather food for Forgotten Harvest.
Additional activities to address food insecurity in
2022 included:• In India, employees led a month-long food drive
to gather contributions for the Akshaya Patra
Foundation, an NGO school-meal program.
• In the Philippines, employees volunteered at a mobile
kitchen sponsored by Rise Against Hunger, providing
meals to those in need. Employees also sponsoredmeals for the elderly at the Anawim Lay Missions
Foundation.
• ADI employees in the U.S. have made a significant
impact in providing relief and comfort tocommunities across the country. Here are someexamples of their efforts:• In Massachusetts, employees generously
volunteered and donated hundreds of pounds
of food to Bread & Roses and End 68 Hours of
Hunger. They also delivered backpacks filledwith food to local schools. In collaboration
with Medway Community Farm, employees
re-skinned a greenhouse, resulting inincreased production of locally grown foodthat was shared with participants in the
Supplemental Nutrition Assistance Program(SNAP) and Healthy Incentives Program (HIP).
• Rise Against Hunger received support fromADI employees, who packed more than 17,000
meals for distribution to those in need.
• In California, employees raised over $50,000 incollaboration with Second Harvest of Silicon
Valley. The funds raised were enough to provide
more than 100,000 meals for the hungry.
• In Washington State, employees partneredwith the Clark County Food Bank to collect
donations of food.
We are proud of employees’ commitments to theircommunities, excited at the strong, early successof the Community Activities Board, and eagerly lookforward to more great results in 2023 and beyond.

96

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZON

Investing in Research
To stay at the forefront of technology innovation that
supports a sustainable future ADI continues to invest
in leading research activities. ADI investments span awide range, from basic scientific exploration to appliedresearch pointing to future innovative products.
Examples of research collaborations include:• UC Berkeley Sensor and Actuator Center (BSAC)• UC Berkeley Wireless Research Center (BWRC)• Stanford SystemX Alliance• Center for Power Electronics Systems (CPES)• NSF Power Management Integration Center (PMIC)• MIT Medical Electronic Device Realization Center(MEDRC)• MIT Center for Quantum Engineering• NSF Center for Hardware and Embedded System
Security and Trust (CHEST)• UMass Lowell Printed Electronics Research• NSF Broadband Wireless Access and Applications
Center (BWAC)• MIT Center for Transportation and Logistics (CTL)• MIT AI Hardware Program• Flexible Hybrid Electronics Manufacturing Institute(NextFlex)• NSF Center for Design Analog-Digital Integrated
Circuits (CDADIC)• NYU WIRELESS• Power America
In addition to collaboration on center level, ADI has
provided further gifts to stimulate research at GTech,UCSD, Columbia, WPI, the University of Illinois, theUniversity of Michigan, Oregon State, and UT Dallas.
CRITTR testing on the R/V Tioga

OUR COMMUNITYAPPENDICESSPOTLIGHT
FUNDED RESEARCH MEASURING BLUECARBON WITH TINY RESPIROMETERS

Nature-based carbon credits are proving
to be an effective tool for incentivizing
climate action. However, there is limited
understanding and long-term measurementsof carbon transport and storage in theregion of interest.
ENTER CRITTR

One of OCIA’s first funded projects, CRITTR,
is a key step to building that understanding.
This project’s key goal is to develop a new
instrument that monitors the carbon flux
continuously through the ocean’s midwater—or “twilight zone”—with the development of
new instrument called CRITTR (Continuous
Reconnaissance In Situ Twilight Zone Tiny
Respirometer). This will shed new lighton one of the most critical processes
involved in ocean-based carbon captureand sequestration.
OCIA funding plus ADI technology andexpertise accelerated the prototyping
and in situ testing of CRITTR by the WHOI
scientists. CRITTR is now on a rapid path
to commercialization.

97

ANALOG DEVICES 2022 ESG REPORT
Another important activity is expanding international
engagement. Examples include:• KU Leuven research collaboration• Microelectronics Circuit Center Ireland (MCCI)• d.lab at Tokyo University in Japan• University of Pavia, Italy• Macquarie University, Australia• CONFIRM research center for manufacturing, Ireland• IIT Chennai, India• University of Toronto• Universidad Jaime I, Spain
One of the key engagements is ADI participation in
Semiconductor Research Corporation public/private
Joint University Microelectronics Program 2.0 (JUMP 2.0).
The SRC-led effort is aimed at accelerating U.S. advances
in information and communications technologies.
JUMP 2.0 seeks to significantly improve performance,
efficiency, and capabilities across a range ofelectronics systems. Novel materials, devices,architectures, algorithms, designs, integration
techniques, and other innovations are at the heart ofproblem-solving for next-generation information andcommunications challenges. To that end, the centerswill focus on JUMP 2.0’s seven complementary research
themes, led by the following university-run centers:• Cognition: Next-generation AI systems andarchitectures (Center for the Co-Design of Cognitive
Systems, Georgia Institute of Technology)• Communications and Connectivity: Efficient
communication technologies for ICT systems (Centerfor Ubiquitous Connectivity, Columbia University)

ABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES• Intelligent Sensing to Action: Sensing capabilities
and embedded intelligence to enable fast andefficient generation of actions (Center on Cognitive
Multispectral Sensors, Georgia Institute of Technology)• Systems and Architectures for Distributed Compute:
Distributed computing systems and architectures inan energy-efficient computer and accelerator fabric(Evolvable Computing for Next Generation Distributed
Computer Systems, University of Illinois UrbanaChampaign)• Intelligent Memory and Storage: Emerging memory
devices and storage arrays for intelligent memory
systems (Center for Processing with Intelligent
Storage and Memory, University of California
San Diego)• Advanced Monolithic and Heterogenous Integration:
Novel electric and photonic interconnect fabrics
and advanced packaging (Center for Heterogeneous
Integration of Micro Electronic Systems, Penn State)• High Performance Energy Efficient Devices: Novelmaterials, devices, and interconnect technologies
to enable next-generation digital and analog
applications (SUPeRior Energy-efficient Materials
and dEvices (SUPREME), Cornell University)
More information on JUMP 2.0 can be found on the
SRC website.

“The moments where I felt
seen, respected, and valued
have significantly influenced
my career, bolstering
my confidence to tackle
obstacles and to meet the
momentum to continue togrow. I love that my work
helps create those spaces
for others at ADI.”JASON A. - DEI-Lead Program Manager,
United States

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ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Access to STEM Education
ADI is committed to expanding access to the educationnecessary for developing technology skills that haveand continue to improve our lives and the planet. Since
ADI’s founding in 1965, we have invested in programs
that support science, technology, engineering, andmath (STEM) education for students at the K-12 level aswell as university students at the undergraduate andgraduate levels. We contribute resources by providing
funding, technologies, and employee expertise inprograms around the globe and many of which are
long-term partners.

“I did robotics in high school andhave mentored a team in North
Carolina since 2019. FIRST is anorganization I really care about
and it’s cool to be able to giveback and help the kids coming
through today.”
ALEX, Sr. Engineer, ADI

University of Massachusetts Lowell, Radio
Frequency/Microwave Learning Lab—U.S.A.
ADI, the Analog Devices Foundation, and the Universityof Massachusetts Lowell teamed up to create a stateof-the-art radio frequency/microwave learning lab.
Educating the engineers of tomorrow is a sharedpriority for ADI and UMass Lowell. To accelerate andencourage education and research surrounding
radio frequency and microwave technologies, theAnalog Devices Foundation funded a grant while ADI
provided lab equipment ranging from microwave
signal generators to high-frequency oscilloscopes
and spectrum analyzers. Students trained in thelab may go on to work in the aerospace, cable, andcommunications industries on everything from 4G and
5G networks to radar systems used to track aircraft inflight and keep automobiles safe on the road.
FIRST ROBOTICS—U.S.A.
ADI has been a proud sponsor of FIRST (For Inspiration
and Recognition of Science and Technology) Robotics
since 2003. In 2022, our employees mentored 40 teams
including a team that qualified for the FIRST Robotics
international championship. At the championship,
ADI had a booth to provide expertise and guidance on
designing with inertial sensors and to provide feedbackon the problems they are having.

Additional programs ADI and the Analog Devices
Foundation partner with:• Science Buddies• Wilmington Education Fund• Family Promise• STEM4All• Team4Tech Foundation• Minuteman Regional Vocational High School• CA Invention Convention• Discovery Museum• CFC ANCOP Foundation• Hope Chinese Charter School• The SEAL Foundation• Girlstart• Learn To Be Foundation• Massachusetts Science and Engineering Fair
(MSEF)• National Society of Black Engineers (NSBE)SPOTLIGHT
ADI PRIMARY SCHOOLS ROBOTIC COMPETITION- IRELAND

After a two-year hiatus due to COVID, the 7th ADI
Primary Schools Robotic competition was heldat ADI’s Limerick, Ireland, campus. It hosted 75
primary school students (5th & 6th class) from 24
schools. The competition provides exposure toengineering skills by providing the opportunity
to design, build, test, and program their own
robots. Students from 24 schools were provided
kits to build their own robots and competed
within their schools through workshops for achance to represent their school at the finals
held at ADI. Since the competition began in 2015,
over 168 school workshops have been conductedand have reached close to 5,000 students.

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ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

100

ENGAGE UNIVERSITY STUDENTS BY DEVELOPINGSKILLS AMONG STUDENTS WITH TECHNICAL MAJORSADI provides students and professors with hands-on
learning experiences by opening state-of-the-art labs,
as well as providing technical resources and online
support through our StudentZone. This approach gives
students and professors freedom and creativity to
expand course materials and explore real-time design
scenarios.
ADVANCE TECHNICAL SKILLS AMONG EMPLOYEES
Furthering the technical skills of our employees plays avital role in how we develop cutting-edge technologies.
We sponsor employees in fellowship programs that
help them advance skills in technical domains to help
develop the competitive skills our businesses need.

SPOTLIGHT
AEROSPACE & DEFENSE AND ADVANCED DATACONVERTER FELLOWSHIP PROGRAMS

Ribbon-cutting ceremony to officially open
the ADI RF/Microwave Learning Lab at
UMass LowellTwo years ago, through a collaboration with
University of Massachusetts Lowell, ADI’s
Aerospace & Defense Business Unit created afellowship program that provides sponsored
employees with a fully funded, accelerated
technical master’s degree in the areas ofelectrical engineering, computer science,and mechanical engineering. It helps elevatetechnical skills to better address the intricate
needs of customers. More recently, an advanced
data converter fellowship was launched toprovide a deeper dive into high-speed convertor
technology. The program provides on-the-job
training, mentoring, class work, and job rotation
across multiple functions. Participants will
work on real projects with ADI experts, aimed ataddressing current and future needs.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZON

Sustainable Innovation
Innovate FPGA

eXtreme Tech Challenge

ADI teamed up with Intel and Terasic as a diamondsponsor of the Innovate FPGA Design Contest to explore
solutions that provide a positive impact on humanity.
Last year, hundreds of teams worldwide competed
to unlock the power of Intel’s Cyclone V SoC with ADI
technologies that sense, measure, power, and connect.
During the contest, ADI provided teams with accessto technology through free reference and evaluation
boards, as well as support from ADI’s technicalexperts. Teams had access to over 20 different board
variations—from precision weight scales to gas
sensors, to pH sensors. ADI supported 127 global teams
by delivering over 275 reference and evaluation boards.
Teams leveraged ADI’s technology to create solutions
around smart agriculture, forest conservation, smart
cities, and smart healthcare.

ADI is a proud partner of the eXtreme Tech Challenge(XTC), a nonprofit and the world’s largest startup
ecosystem and competition for purpose–driven
technology inspired by the United Nations’ 17
Sustainable Development Goals (SDGs). XTC is on a
mission to empower entrepreneurs building innovativetechnologies that change the world for the better by
connecting innovators with a network of investors,
corporations, and mentors to help startups raise
capital, launch corporate collaborations, and scale theirworld-changing startups.

The first-place winner developed a smart underwater
microbial delivery system for coral reef habitat recovery.
The system precisely delivers coral probiotics andmonitors its efficacy regulated through a deep-learning
network that monitors the color change of corals.
They leveraged ADI’s precision technology to measure
and regulate the probiotics and the power monitoring
technology for monitoring the energy harvested fromthe solar panel.

In 2022, XTC received thousands of applications fromstartup founders across 120+ countries, covering awide spectrum of tech verticals and funding stages.
Finalists raised $3.5B+ and almost a dozen startups
received funding. ADI was among the judges who drove
evaluations for startup winners in Mobility, Sustainable
Smart Cities, and Metaverse, as well as the Female
Founder Award. ADI also provided mentorship to teams
during bootcamp sessions on different topics such as
the challenges of scaling digital healthcare.

OUR COMMUNITYAPPENDICES

101

ANALOG DEVICES 2022 ESG REPORT

Making Waves: The Ocean and Climate
Innovation Accelerator
At ADI, we believe that climate change is an urgent
problem that will take all of us working together todevelop solutions to this crisis, and we have taken direct
action to tackle this problem at scale by partnering withWoods Hole Oceanographic Institution (WHOI)— theworld’s leading, independent nonprofit organization
dedicated to ocean research, exploration, andeducation. In 2021, together with WHOI, we launched
the Ocean and Climate Innovation Accelerator (OCIA)
a first-of-its-kind consortium. Closely aligned with
the UN’s Sustainable Development Goal 14, Life Below
Water, the key purpose of OCIA is to bring together theworld’s experts on the ocean with the leading technology
companies to accelerate the development of scalable
technologies to better understand the ocean, climate
impact, and inform policy.

ABOUT ADIOUR SOLUTIONSADI HORIZON

In 2022, OCIA funding focused on coastal resiliency
to protect 40% of the world’s population living nearcoastal areas. These projects include:• A low-cost ultrasonic sensor for modeling coastal
flooding and sea level• A pressure sensor capable of measuring sea-level rise
• High frequency radar for a dynamic coastal
sensing mesh
• A reusable iceberg in situ monitoring platform• Understanding salt marsh response to sea-level rise
The only thing that is certain about climate change isthat it is going to take a concerted effort to address.

OUR COMMUNITYAPPENDICES

102“We are going to have to bringin industries that have not been
engaged before. It will take anall-hands-on-deck approach. Ourscientists and engineers are readyto engage. But we need more thangovernment support to do that.
We need smart, visionary partners
to really accelerate and get us toa place where we need to be. And
we need to get there as quickly
as possible.”
CAROL ANNE CLAYSON, Senior Scientist and Directorof Research Strategies and Innovation, WHOIANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICESI

Appendices
IN THIS SECTION:II

Reconciliation of GAAP Measures to
Non-GAAP Measures

IV

TCFD

V

SASB

VII

GRI Index

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICESII

Reconciliation of GAAP Measures to
Non-GAAP Measures
Non-GAAP financial measures included in this report
are financial measures that are not in accordance with,
nor an alternative to, generally accepted accounting
principles (GAAP) and may be different from non-GAAP
measures presented by other companies. In addition,these non-GAAP measures are not based on any
comprehensive set of accounting rules or principles.
Management uses non-GAAP measures internally toevaluate ADI’s operating performance from continuing
operations against past periods and to budget andallocate resources in future periods. These non-GAAP
measures also assist management in evaluating ADI’s
core business and trends across different reporting
periods on a consistent basis. Management also uses
these non-GAAP measures as the primary performancemeasurement when communicating with analysts andinvestors regarding ADI’s earnings results and outlook
and believes that the presentation of these non-GAAP
measures is useful to investors because it provides
investors with the operating results that management
uses to manage ADI and enables investors and analysts
to evaluate ADI’s core business. Management also
believes that the non-GAAP liquidity measure free
cash flow is useful both internally and to investors
because it provides information about the amount ofcash generated after capital expenditures that is thenavailable to repay debt obligations, make investments
and fund acquisitions, and for certain other activities.
We believe that non-GAAP measures have material
limitations in that they do not reflect all of theamounts associated with ADI’s results of operations as

determined in accordance with GAAP and should not be
considered in isolation from, or as a substitute for, ADI’s
financial results presented in accordance with GAAP.
ADI’s use of non-GAAP measures, and the underlying
methodology when including or excluding certain
items, is not necessarily an indication of the results ofoperations that may be expected in the future, or thatADI will not, in fact, record such items in future periods.
Investors should consider ADI’s non-GAAP financial
measures in conjunction with the corresponding
GAAP measures.
Free Cash Flow: Net cash provided by operating
activities, determined in accordance with GAAP, lessadditions to property, plant and equipment, net. Free
cash flow revenue percentage represents free cash
flow divided by revenue.
Acquisition Related Expenses: Expenses incurred asa result of current and prior period acquisitions andprimarily include expenses associated with the fairvalue adjustments to debt, inventory, property, plantand equipment and amortization of acquisition related
intangibles, which include acquired intangibles suchas purchased technology and customer relationships.
Expenses also include fair value adjustments
associated with the replacement of share-based
awards related to the Maxim and Linear Technology
Corporation acquisitions. We excluded these costs
from our non-GAAP measures because they relate
to specific transactions and are not reflective of ourongoing financial performance.

Acquisition Related Transaction Costs: Costs directly
related to the Maxim acquisition, including legal,
accounting and other professional fees as well as
integration-related costs. We excluded these costs
from our non-GAAP measures because they relate
to a specific transaction and are not reflective of ourongoing financial performance.
Special Charges, net: Expenses, net, incurred as part ofthe integration of the Maxim acquisition, in connection
with facility closures, consolidation of manufacturing
facilities, severance, other accelerated stock-based
compensation expense and other cost reduction
efforts or reorganizational initiatives. We excluded
these expenses from our non-GAAP measures because
apart from ongoing expense savings as a result of suchitems, these expenses have no direct correlation to theoperation of our business in the future.
Tax Related Items: Income tax effect of the non-GAAP
items discussed above, income tax from certain
discrete tax items related to an intra-entity transfer ofintangible assets, an income tax benefit from discrete
tax items related to the consolidation of certain
subsidiaries, and certain other income tax benefits
associated with prior periods. We excluded the income
tax effect of these tax related items from our non-GAAP
measures because they are not associated with the tax
expense on our current operating results.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

III

Reconciliation of GAAP Measures to
Non-GAAP Results (Unaudited)

Reconciliation of Net Cash Provided by Operating
Activities to Free Cash Flow (Unaudited)(In thousands, except per-share amounts)(In thousands)
Twelve Months Ended Oct 29, 2022

GROSS MARGIN$ 7,532,474

Gross margin percentage

62.7%

Acquisition related expenses
ADJUSTED GROSS MARGIN

1,309,687$ 8,842,161

Adjusted gross margin percentage
OPERATING INCOME

73.6%$ 3,278,700

Operating margin

27.3%

Acquisition related expenses

2,352,004

Acquisition related transaction costs

33,966

Special charges, net

274,509

ADJUSTED OPERATING INCOME$ 5,939,179

Adjusted operating margin
DILUTED EPS

49.4%
$

5.25

Acquisition related expenses

4.50

Acquisition related transaction costs

0.06

Special charges, net

0.52

Tax related items(0.75)

ADJUSTED DILUTED EPS

$

9.57

Twelve Months Ended Oct 29, 2022

Revenue$ 12,013,953

NET CASH PROVIDED BY OPERATING ACTIVITIES$4,475,402% of revenue

37%

Capital expenditures$ (699,308)

FREE CASH FLOW(1)$ 3,776,094% of revenue(1)

Free cash flow is defined as net cash provided by operating activities, less capital expenditures.

31%

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

IV

TCFD
Topic

Recommended disclosure

Response or Location

Governance: Disclose the organization’s governancearound climate-related risks and opportunities.

a. Describe the board’s oversight of climate-related risks
and opportunities.

2022 ESG Report: Risk Oversight, page 18; ESG Oversight,
page 19; Risk Management, starting page 52

b. Describe management’s role in assessing andmanaging climate-related risks and opportunities.
Strategy: Disclose the actual and potential impactsof climate-related risks and opportunities on theorganization’s businesses, strategy, and financial
planning where such information is material.

a. Describe the climate-related risks and opportunities
the organization has identified over the short, medium,and long term.
b. Describe the impact of climate-related risks andopportunities on the organization’s businesses, strategy,
and financial planning.

2023 Proxy Statement; Oversight by Our Board,
pages 36-39
2022 ESG Report: Introducing ADI Horizon, page 5; Our
Potential Future Impact, page 50; ADI Horizon, starting
page 512022 Form 10-K: Item 1A. Risk Factors, pages 11-23

c. Describe the resilience of the organization’s strategy,
taking into consideration different climate-related
scenarios, including a 2°C or lower scenario.
Risk Management: Disclose how the organization
identifies, assesses, and manages climate-relatedrisks.

a. Describe the organization’s processes for identifying
and assessing climate-related risks.
b. Describe the organization’s processes for managing
climate-related risks.

2022 ESG Report: Risk Oversight, page 18; ESG Oversight,
page 19; Risk Management, starting page 52
2023 Proxy Statement: Oversight by Our Board,
pages 36-39

c. Describe how processes for identifying, assessing, andmanaging climate-related risks are integrated into theorganization’s overall risk management.
Metrics and Targets: Disclose the metrics andtargets used to assess and manage relevant
climate-related risks and opportunities where suchinformation is material.

a. Disclose the metrics used by the organization to assessclimate-related risks and opportunities in line with its
strategy and risk management process.
b. Disclose Scope 1, Scope 2 and, if appropriate, Scope 3
greenhouse gas (GHG) emissions, and the related risks.
c. Describe the targets used by the organization to
manage climate-related risks and opportunities andperformance against targets.

2022 ESG Report: ADI ESG Results, pages 23-27; Climate
and Energy, pages 70-72

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICESV

SASB
Table 1. Sustainability Disclosure Topics & Accounting Metrics
Topic

Accounting Metric

Category

Unit of Measure

Code

Response

Location

Greenhouse
Gas Emissions(1) Gross global Scope 1 emissionsand (2) amount of total emissions
from perfluorinated compounds

Quantitative

Metric tons (t)CO2-eTC-SC-110a.1(1) 176,000 CO2e metric tons
(2) Not specified

2022 ESG Report: ADI ESG Results,
pages 23-27

Discussion of long-term andshort-term strategy or plan to
manage Scope 1 emissions,emissions reduction targets,and an analysis of performanceagainst those targets

Discussion
and Analysisn/aTC-SC-110a.2

EnergyManagement in
Manufacturing(1) Total energy consumed, (2)percentage grid electricity, (3)percentage renewable

Quantitative

Gigajoules (GJ),
Percentage (%)

TC-SC-130a.1(1) 583 GWh(2) Not disclosed(3) 53%2022 ESG Report: ADI ESG Results,
pages 23-27; Climate and Energy,
pages 70-72

Water
Management(1) Total water withdrawn, (2) total
water consumed, percentage
of each in regions with Highor Extremely High Baseline
Water Stress

QuantitativeThousand cubic
meters (m³),
Percentage (%)

TC-SC-140a.1(1) 0.28 gal/cm (squared) Si/ML(2) 293 millions of gallons

2022 ESG Report: ADI ESG Results,
pages 23-27

Waste
Management

Amount of hazardous
waste from manufacturing,
percentage recycled

Quantitative

Metric tons (t),Percentage (%)

TC-SC-150a.1

Hazardous waste:
1477 Metric tons
Recycled hazardous waste:
373 Metric tons
Percentage recycled: 25%

2022 ESG Report: ADI ESG Results,
pages 23-27

Employee
Health & Safety

Description of efforts toassess, monitor, and reduce
exposure of employees to humanhealth hazards

Discussion
and Analysisn/aTC-SC-320a.1

Total amount of monetary losses
as a result of legal proceedings
associated with employee healthand safety violations

Quantitative

2022 ESG Report: Climate andEnergy, pages 70-72

2022 ESG Report: Health and Safety,
page 67
Code of Corporate Social
Responsibility

Reportingcurrency

TC-SC-320a.2

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

TopicAccounting Metric

Category

Unit of Measure

Code

Response

Location

Recruiting &Managing a
Global & Skilled
Workforce

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

Quantitative

Percentage (%)

TC-SC-330a.1(1) Not disclosed(2) 11% of employees are
in EMEA countries and60.6% of employees are in
APAC countries.

2022 ESG Report: FY22 Workforce
Data Snapshot, page 13

Product
Lifecycle
Management

Percentage of products byrevenue that contain IEC 62474
declarable substances

Quantitative

Percentage (%)

TC-SC-410a.1

Not disclosed

Processor energy efficiency ata system-level for: (1) servers,(2) desktops, and (3) laptops

Quantitative

Various, byproduct category

TC-SC-410a.2

Not disclosed

Description of the managementof risks associated with the useof critical materials

Discussion
and Analysisn/aTC-SC-440a.1

Materials
Sourcing

2022 ESG Report: Responsible
Mineral Sourcing, page 61
Conflict Minerals Report (Form SD
for Calendar Year 2021)

Intellectual
Property
Protection &Competitive
Behavior

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

Quantitative

Reportingcurrency

TC-SC-520a.1

Activity Metric

Category

Unit of Measure

Code

Total production

Quantitative

See note

TC-SC-000.A

Percentage of production from owned facilities

Quantitative

Percentage (%)

TC-SC-000.B

Table 2. Activity Metrics
Not disclosed
2022 Form 10-K: Item 1. Business –Production Resources, pages 7-8

VI

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICESVIIGRI Index
Statement of use

Analog Devices, Inc. has reported the information cited in this GRI content index for the period January 1 to December 31, 2022 with reference to the
GRI Standards.

GRI 1 used

GRI 1: Foundation 2021

Disclosure
Number

Disclosure Title

Location

GRI 2: General Disclosures 2021
2-1

Organizational details

Name of the organization: Analog Devices, Inc.
Ownership and legal form: 2022 Form 10-K: Company Overview, Strategy and Mission, page 2
Location of headquarters: Wilmington, Massachusetts U.S.A
Location of operations: 2022 ESG Report: Who We Are, pages 6-102022 Form 10-K: Properties, page 25
2023 Proxy Statement: About ADI, pages 1-2

2-2

Entities included in the organization’s sustainability reporting

All entities included, none treated differently. ADI to address the rest in methodology PDF

2-3

Reporting period, frequency and contact point

Reporting period: 12-month period ending December 31, 2022
Reporting cycle: Annual
Publication date of the report: [ADI Team to update]Contact point for questions regarding the report: Mary Farris, ADI Senior Director, ESG and
Sustainability Programs

2-4

Restatements of information

GHG emissions for CY2019-2021 were restated after receiving a correction to the emissions
profile for our non-manufacturing facilities. Our emissions increased by ~2,000 metric tonsof CO2e

2-6

Activities, value chain and other business relationships

2022 ESG Report: Who We Are, page 7; ADI’s ESG Product Impact Overview, pages 30-48
2022 Form 10-K: Business, pages 2-102023 Proxy Statement: About ADI, pages 1-2
There were no significant changes to activities, value chain and other business relationships
for CY 2022

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITY

Disclosure
Number

Disclosure Title

Location

2-7

Employees2022 ESG Report: Our Global Footprint, page 11

APPENDICES

VIII

2022 Form 10-K: Human Capital and Empowerment, pages 9-102023 Proxy Statement: About ADI, pages 1-2
2-8

Workers who are not employees

ADI does not report contingent workers in our data, but we do include them in our injury andillness data sets, as set forth by OSHA guidance.

2-9

Governance structure and composition

2022 ESG Report: Our Approach to Governance and Oversight, page 152023 Proxy Statement: Our Board of Directors, pages 9-12; Director Criteria, Qualifications
and Experience, pages 18-20; Director Biographies, pages 20-26; Determination of
Independence, page 27; Board Committees, pages 32-35
Corporate Governance Guidelines: D. Board Committees

2-10Nomination and selection of the highest governance body2023 Proxy Statement: Director Criteria, Qualifications and Experience, pages 18-20;
Determination of Independence, page 27; Director Candidates, page 28
Corporate Governance Guidelines: B. Director Qualification Standards

2-11

Chair of the highest governance body2023 Proxy Statement: Board Leadership Structure, pages 30-31

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

2022 ESG Report: Board Structure, page 16; Risk Oversight, page 18; ESG Program Oversight,
page 19; Stakeholder Engagement, page 20; Shareholder Engagement, pages 21-22; ADI
Horizon, pages 52-67; Our People and Culture, pages 80-85
2023 Proxy Statement: ESG Oversight, page 3; Talent Priorities, page 5; Oversight by Our
Board, pages 36-39
Information Security Statement
Political Contributions and Expenditures

2-13

Delegation of responsibility for managing impacts

2022 ESG Report: Board Structure, page 16; Risk Oversight, page 18; ESG Program Oversight,
page 19; ADI Horizon, pages 51-67; Our Purpose, Culture, and Priorities, pages 80-85
2023 Proxy Statement: ESG Oversight, page 3; Talent Priorities, page 5; Oversight by Our
Board, pages 36-39
Information Security Statement
Political Contributions and Expenditures

2-14

Role of the highest governance body in sustainability
reporting

ADI’s Internal Audit organization reviews the full report and issues an Audit Report to thesenior leadership team and the Audit Committee of the Board of Directors. ADI’s ESG
program and progress is reported quarterly to the senior leadership team and to theNominating Corporate Governance Committee of the Board of Directors.

2-15

Conflicts of interest

2023 Proxy Statement: Board Committees, pages 32-35; Certain Relationships and Related
Transactions, page 41

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Disclosure
Number

Disclosure Title

Location

2-16

Communication of critical concerns

2023 Proxy Statement: Communications from Shareholders and Other Interested Parties,
page 40
Corporate Governance Guidelines: J. Board Interaction with Stockholders, Institutional
Investors, the Press, Customers, Etc.

2-17

Collective knowledge of the highest governance body2022 ESG Report: ESG Program Oversight, page 192023 Proxy Statement: ESG Oversight, page 3; Director Education and Orientation Program,
page 35; ESG Oversight, page 37
Corporate Governance Guidelines: G. Director Orientation and Continuing Education

2-18
2-19

Evaluation of the performance of the highest governancebody2023 Proxy Statement: Board Evaluations, page 35

Remuneration policies

2023 Proxy Statement: Director Compensation, pages 42-45; Compensation Discussion andAnalysis, starts at page 49

Corporate Governance Guidelines: I. Annual Performance Evaluation of the Board

Corporate Governance Guidelines: F. Director Compensation
2-20

Process to determine remuneration

2023 Proxy Statement: Historical Say-on-Pay Votes, page 15; Director Compensation,
pages 42-45; Compensation Discussion and Analysis, starts at page 49
Corporate Governance Guidelines: F. Director Compensation

2-21

Annual total compensation ratio

2023 Proxy Statement: CEO Pay Ratio, page 78

2-22

Statement on sustainable development strategy

2022 ESG Report: Message from Our CEO and Chair of the Board, pages 3-4

2-23

Policy commitments

2022 ESG Report: Business Ethics, page 55
Anti-Corruption Policy
Code of Business Conduct and Ethics
Code of Corporate Social Responsibility
EEO and Affirmative Action Policy
Global Tax Policy
Anti-Slavery & Human Trafficking Statement
Gift & Entertainment Guidelines
Sexual & Other Unlawful Harassment Policy
Workplace Safety Overview Policy
Global Environment, Health, & Safety Policy
Privacy Policy
Conflict Minerals Policy Statement

IX

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITY

Disclosure
Number

Disclosure Title

Location

2-24

Embedding policy commitments

2022 ESG Report: Business Ethics, page 55

APPENDICES

Anti-Corruption Policy
Code of Business Conduct and Ethics
Code of Corporate Social Responsibility
EEO and Affirmative Action Policy
Global Tax Policy
Anti-Slavery & Human Trafficking Statement
Gift & Entertainment Guidelines
Sexual & Other Unlawful Harassment Policy
Workplace Safety Overview Policy
Global Environment, Health, & Safety Policy
Privacy Policy
Conflict Minerals Policy Statement
2-25

Processes to remediate negative impacts

ADI is committed to applying a consistent and objective review process to reports of alleged
wrongdoing and ensuring that reports are fairly and promptly reviewed. If an investigation
is warranted, ADI will promptly investigate allegations and implement corrective actions,if appropriate, and convey the outcome of the investigation to the reporter. All efforts
are made to handle the investigation confidentially, consistent with business needs andapplicable law.
At ADI, we cooperate fully with internal and external investigations. The Chief Legal and Risk
Officer and Ethics and Compliance team provide oversight of all global investigations toensure matters are handled fairly, consistently, and transparently.
We are focused on continuous improvement of our practices and procedures and seek
continuous feedback from key stakeholders.
We track and analyze data and metrics on all global investigations, monitor trends, andevaluate our data vis-à-vis industry benchmarks. Additionally, the Board of Directors
provides oversight on investigation processes, compliance trends and matters, as
appropriate.

X

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Disclosure
Number

Disclosure Title

Location

2-26

Mechanisms for seeking advice and raising concerns

2022 ESG Report: Whistleblower Program, Reports, Investigations and Corrective Measures,
page 57

XI

Code of Corporate Social Responsibility
At ADI, we are committed to creating an environment where every employee is respected
and valued. We have an open-door policy and rely on our employees to speak up to raise
concerns. We maintain multiple channels for employees and others to report concerns,
including reporting anonymously. Anyone can report concerns through ADI’s Ethics Hotline(online at www.analog.ethicspoint.com, by phone or through mobile access). ADI’s Ethics
Hotline is operated by an independent third party and allows anonymous reporting wherepermitted by applicable law. Additional channels for employees’ seeking advice or raisingconcerns about the organization’s business conduct include their supervisor, Human
Resources, ADI’s Chief Legal Officer and ADI’s Ethics and Compliance team through its Ethics
Email Box.
2-27

Compliance with laws and regulations

ADI is not aware of material instances of fines or non - monetary penalties imposed during
the reporting period.

2-28

Membership associations

U.N. Global Compact (UNGC)
Responsible Business Alliance (RBA)
Responsible Minerals Initiative (RMI)
Responsible Labor Initiative (RLI)
Semiconductor Industry Association (SIA)
SEMI
Semiconductor Research Corporation
Open RAN Policy Coalition
Science Based Targets initiative (SBTi)
Ocean & Climate Innovation Accelerator

2-29

Approach to stakeholder engagement

2022 ESG Report: Stakeholder Engagement, page 20; Shareholder Engagement, pages 21-22

2-30

Collective bargaining agreements

In full compliance with laws, ADI respects the rights of workers to associate freely, form andjoin workers organizations, seek representation and bargain collectively.

ANALOG DEVICES 2022 ESG REPORT

Disclosure
Number

Disclosure Title

ABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

XII

Location

GRI 3: Material Topics 2021
3-1

Process to determine material topics

ADI takes a multipronged approach to determining material topics. First, we account for
input from stakeholders, including investors, customers, ratings agencies, and our insurers.
We also use our industry associations’ input (SEMI, SIA) and best practices. These, as wellas our internal Enterprise Risk Management program provide the company with a wide
perspective of material topics. ADI assesses potential impacts using scenario-based andreal-world information. In the coming months, ADI seeks to execute a double materiality
assessment.

3-2

List of material topics

2022 ESG Report: Setting ESG Priorities, page 28; ESG Goals & Initiatives, page 28

3-3Management of material topics

2022 ESG Report: Objectives, page 8; Our Approach to ESG, page 15; Our Solutions, page 29;
Our Community, page 79
2022 Form 10-K: Environment, Health and Safety Compliance, page 8; Cybersecurity andInformation Security Risk Oversight, page 9; Human Capital and Empowerment, pages 9-102023 Proxy Statement: Environment, Social and Governance, pages 2-4; People and Culture,pages 5-6; Shareholder Engagement, pages 38-39
Anti-Corruption Policy
Code of Business Conduct and Ethics
Code of Corporate Social Responsibility
EEO and Affirmative Action Policy
Global Tax Policy
Information Security Statement
Anti-Slavery & Human Trafficking Statement
2022 Ireland Pay Gap Analysis
2022 U.S. Benefits Program
Gift & Entertainment Guidelines
Sexual & Other Unlawful Harassment Policy
Workplace Safety Overview Policy
Global Environment, Health, & Safety Policy
Privacy Policy
Political Contributions and Expenditures
Conflict Minerals Policy Statement
Conflict Minerals Report (Form SD for Calendar Year 2021)

ANALOG DEVICES 2022 ESG REPORT

Disclosure
Number

ABOUT ADIOUR SOLUTIONS

Disclosure Title

ADI HORIZONOUR COMMUNITYAPPENDICES

XIII

Location

GRI 201: Economic Performance 2016
201-1

Direct economic value generated and distributed

2022 ESG Report: Who We Are, page 7; ADI ESG Results, pages 23-27
2023 Proxy Statement: About ADI, pages 1-2

201-2

Financial implications and other risks and opportunities due
to climate change

2022 Form 10-K: Risk Factors, pages 11-23

201-3

Defined benefit plan obligations and other retirement plans

2022 Form 10-K: Note 11: Retirement Plans, pages 74-78

GRI 203: Indirect Economic Impacts 2016
203-2

Significant indirect economic impacts

2022 ESG Report: ADI ESG Results, pages 23-27; Our Outreach, pages 93-101

GRI 207: Tax 2019
207-1

Approach to tax

2022 ESG Report: Taxation, page 62
Global Tax Policy

207-2

Tax governance, control, and risk management

2022 ESG Report: Whistleblower Program, Reports, Investigations, and Corrective Measures,
page 57; Taxation, page 62
Global Tax Policy

207-4

Country-by-country reporting

2022 Form 10-K: Exhibit 21

GRI 302: Energy 2016
302-1

Energy consumption within the organization

2022 ESG Report: ADI ESG Results, pages 23-27
Activity data for both fuel and electricity are regularly collected and reviewed. Fuel data isexpressed in energy units using conversion factors provided in the CDP Technical Note:
Conversion of fuel data to MWh.

302-3

Energy intensity

Energy intensity ration (Energy/Revenue) = 0.00006 MWH/$
Energy intensity data are expressed in terms of total energy consumed against company
revenue. Sources of energy included in the calculation are fuel and electricity consumed byour manufacturing sites.

ANALOG DEVICES 2022 ESG REPORT

Disclosure
Number

ABOUT ADI

Disclosure Title

OUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

XIV

Location

GRI 303: Water and Effluents 2018
303-1

Interactions with water as a shared resource

We employ internal procedures for comprehensive water data collection using water
metering, water balance calculations, and utility bill analysis. We determine the baselinewater stress level from each manufacturing location by utilizing the Aqueduct Risk
Assessment Tool, a publicly-available tool developed by the World Resources Institute (WRI).
2022 ESG Report: 2022 ESG Results, Water on page 25; Water, pages 73-74

303-2

Management of water discharge-related impacts

2022 ESG Report: Water, pages 73-74

303-3

Water withdrawal

2022 ESG Report: ADI ESG Results, pages 23-27; Water, pages 73-74
Provided in tear sheet in unit of millions of gallons (16 megaliters)
Provided in tear sheet in unit of millions of gallons (3627 megaliters)
Water withdrawal with water stress = 481 megaliters
Third-party water: 481 megaliters
Resource: WRI Aqueduct Water Risk Atlas

303-4

Water discharge

2022 ESG Report: ADI ESG Results, pages 23-27
Reported in Tear Sheet in unit of millions of gallons (2533 megaliters)(Other parameters not yet calculated)

303-5

Water consumption

2022 ESG Report: ADI ESG Results, pages 23-27
Provided in tear sheet in units of millions of gallons (1111 megaliters)
140 megaliters

GRI 305: Emissions 2016
305-1

Direct (Scope 1) GHG emissions

2022 ESG Report: ADI ESG Results, pages 23-27; Climate and Energy, pages 70-72
Greenhouse Gas (GHG) emissions are categorized into “scopes” based on their source. ADI
monitors Scope 1 and Scope 2 emissions and consolidates GHG emissions from which it
has operational control. Emissions are measured and estimated using the Greenhouse
Gas Protocol Corporate Accounting and Reporting Standard and GWP from the IPCC Fifth
Assessment report. Process emissions are calculated using Tier 2a of IPCC Guidelines for
National Greenhouse Gas Inventories for Electronics Industry emissions. WRI Emission
factors used from US-EPA Climate Leadership Emissions Factors for Greenhouse Gas
Inventories and market-based factors where available. Location-based emission factors
published by the International Energy Agency are used in the absence of market-based
factors. Gases in our GHG inventory include CO2, CH4, N2O, HFCs, PFCs, SF6, and NF3.

ANALOG DEVICES 2022 ESG REPORTABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITYAPPENDICES

Disclosure
Number

Disclosure Title

Location

305-2

Energy indirect (Scope 2) GHG emissions

2022 ESG Report: ADI ESG Results, pages 23-27; Climate and Energy, pages 70-72

305-3

Other indirect (Scope 3) GHG emissions

2022 ESG Report: ADI ESG Results, pages 23-27; Climate and Energy, pages 70-72

305-4

GHG emissions intensity

2022 ESG Report: Climate and Energy, pages 70-72

305-5

Reduction of GHG emissions

2022 ESG Report: Climate and Energy, pages 70-72

305-6

Emissions of ozone-depleting substances (ODS)

Our manufacturing sites no longer use Class 1 ODSXVGRI 306: Waste 2020
306-1

Waste generation and significant waste-related impacts

2022 ESG Report: Waste, page 75

306-2

Management of significant waste-related impacts

2022 ESG Report: Waste, page 75
The amount of waste generated and the applicable management methods used aredetermined using direct mass or volume measurements or actual counts done by internal
resources or by waste management service providers. Waste intensity data are expressed interms of total waste generated against company revenue.

306-3

Waste generated

2022 ESG Report: ADI ESG Results, pages 23-27; Waste, page 75

306-4

Waste diverted from disposal

2022 ESG Report: ADI ESG Results, pages 23-27; Waste, page 75

306-5

Waste directed to disposal

2022 ESG Report: ADI ESG Results, pages 23-27

GRI 401: Employment 2016
401-1

New employee hires and employee turnover2022 ESG Report: FY22 Workforce Data Snapshot, page 112022 Form 10-K: Human Capital and Empowerment, pages 9-10

401-2

Benefits provided to full-time employees that are notprovided to temporary or part-time employees

2022 ESG Report: Compensation and Benefits, pages 91-92
2022 Form 10-K: Human Capital and Empowerment, pages 9-102022 U.S. Benefits Program

GRI 403: Occupational Health and Safety 2018403-1

Occupational health and safety management system

2022 ESG Report: Health and Safety, page 67
2022 Form 10-K: Environment, Health and Safety Compliance, page 8
The system has been implemented voluntarily and not due to legal requirements.

ANALOG DEVICES 2022 ESG REPORT

Disclosure
Number

ABOUT ADIOUR SOLUTIONSADI HORIZONOUR COMMUNITY

Disclosure Title

Location

403-2

Hazard identification, risk assessment, and incident
investigation

2022 ESG Report: Health and Safety, page 67

403-4

Worker participation, consultation, and communication on
occupational health and safety2022 ESG Report: Health and Safety, page 67

403-5

Worker training on occupational health and safety2022 ESG Report: Health and Safety Training, page 67

403-6

Promotion of worker health2022 ESG Report: Compensation and Benefits, pages 91-92

APPENDICES

XVI

2022 U.S. Benefits Program
403-7

Prevention and mitigation of occupational health and safety
impacts directly linked by business relationships

2022 ESG Report: Health and Safety Training, page 67

403-9

Work-related injuries

2022 ESG Report: ADI ESG Results, pages 23-27; Health and Safety, page 67

403-10Work-related ill health2022 ESG Report: ADI ESG Results, pages 23-27

GRI 404: Training and Education 2016
404-2
404-3

Programs for upgrading employee skills and transition
assistance programs2022 ESG Report: Talent Development, pages 87-90

Percentage of employees receiving regular performance andcareer development reviews

A formal assessment of employee specific achievements, behaviors and performance isperformed annually.

2023 Proxy Statement: Talent Priorities, page 5

GRI 405: Diversity and Equal Opportunity 2016405-1

Diversity of governance bodies and employees

2022 ESG Report: FY22 Workforce Data Snapshot, page 13; Strong Board Diversity, page 17;
Diversity, Equity, and Inclusion, pages 82-85
2022 Form 10-K: Human Capital and Empowerment, pages 9-102022 Ireland Pay Gap Analysis

405-2

Ratio of basic salary and remuneration of women to men

2022 ESG Report: Pay Equity, page 91

GRI 408: Child Labor 2016
408-1

Operations and suppliers at significant risk for incidents ofchild labor

ADI prohibits the use of forced, involuntary or child labor within our operations and those of
our suppliers. ADI is a member of RBA and adopts its Code of Conduct.
2022 ESG Report: Our Programs – Business Ethics, pages 55-57; Human Rights, pages 58-65
Anti-Slavery & Human Trafficking Statement

ANALOG DEVICES 2022 ESG REPORT

Disclosure
Number

ABOUT ADIOUR SOLUTIONS

Disclosure Title

ADI HORIZONOUR COMMUNITYAPPENDICES

XVII

Location

GRI 409: Forced or Compulsory Labor 2016409-1

Operations and suppliers at significant risk for incidents offorced or compulsory labor

ADI prohibits the use of forced, involuntary or child labor within our operations and those of
our suppliers. ADI is a member of RBA and adopts its Code of Conduct.
2022 ESG Report: Our Programs – Business Ethics, pages 55-57; Human Rights, pages 58-65
Anti-Slavery & Human Trafficking Statement

GRI 415: Public Policy 2016
415-1

Political contributions

We do not make political contributions of any kind to parties or candidates, including any
direct contributions through intermediary organizations. This policy applies worldwide, even
where these contributions are permitted by law.
2022 ESG Report: Public Policy, page 66
Political Contributions and Expenditures

GRI 418: Customer Privacy 2016
418-1

Substantiated complaints concerning breaches of customer
privacy and losses of customer data

We have not experienced a material security breach in the last three years, and as a result,
we have not incurred any net expenses from such a breach. Furthermore, we have not been
penalized or paid any amount under an information security breach settlement over the last
three years.
2022 Form 10-K: Cybersecurity and Information Security Risk Oversight, page 9

Forward Looking Statements
This report contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange
Act of 1934, as amended. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These statements are
based on current expectations, estimates, forecasts, and projections about the industries in which we operate and the beliefs and assumptions of our management. Words
such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “momentum,” “seeks,” “estimates,” “continues,” “endeavors,” “strives,” “may,” variationsof such words and similar expressions are intended to identify such forward-looking statements. In addition, any statements that refer to anticipated growth opportunities,
innovations, objectives, and trends in our businesses; the effects of business, economic, political, legal and regulatory impacts or conflicts upon our global operations; our goals,
commitments, programs, timelines, business plans, targets, initiatives and objectives; our assumptions and expectations; the scope and impact of our corporate responsibility
risks and opportunities; standards and expectations of third parties; and our ability to hire, retain, and promote team members and other characterizations of future eventsor circumstances are forward-looking statements. For additional information about factors that could cause actual results to differ materially from those described in theforward-looking statements, please refer to our filings with the Securities and Exchange Commission, including the risk factors contained in our most recent Annual Report on
Form 10-K. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update any forward-looking statement.

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