GARMIN LTD.
2021 SASB REPORTR E P O R T I N G U N D E R T H E S U S TA I N A B I L I T Y A C C O U N T I N GS TA N D A R D S B O A R D ( S A S B ) S TA N D A R D S F O R T H E
YEAR-ENDED DEC. 25, 2021

INTRODUCTION

For more than 30 years, Garmin has developed innovative
products that enrich the lives of our customers. As we looktoward our future, we seek opportunities to continue deliveringsuperior and innovative products that are essential to ourcustomers’ lives, guided by our mission, vision and values.
We have integrated sustainable practices into each of ourbusiness pillars, which will help us achieve long-term success.

MISSION
To be an enduring company by creating superior products forautomotive, aviation, marine, outdoor and sports that are an
essential part of our customers’ lives.

VISIONWe will be the global leader in every market we serve, andour products will be sought after for their compelling design,
superior quality and best value.

VALUES
The foundation of our culture is honesty, integrity andrespect for associates, customers and business partners.
Each associate is fully committed to serving customers andfellow associates through outstanding performance andaccomplishing what we say we will do.

The Garmin Board of Directors provides oversight andgovernance on all business matters, including sustainability
and environmental, social and governance (ESG) strategies.
Our executive leadership team provides direction on ESG
strategies, oversight of the implementation of ESG initiatives
and regularly updates the Board of Directors on ESG matters.
Active involvement from our Board of Directors and executive
leadership team ensures that ESG priorities are integrated intobusiness decisions and throughout the organization. To gaina broader perspective on ESG matters, we engage with a wide
variety of both internal and external stakeholders.
This approach has proven to be effective and impactful in ourcontinuing journey of being an enduring company.
This report for the year ended Dec. 25, 2021 includes SASB
disclosures for the Technology & Communications Sector– Hardware industry. In addition to the Garmin Corporate
Sustainability Report and Annual Report, this SASB Report willhelp inform stakeholders of our ESG efforts and programs as
we continue on our mission to be an enduring and sustainable
company led by our mission, vision and values.

SUSTAINABILITY ACCOUNTINGSTANDARDS BOARD
SASB Standards
HARDWARE SUSTAINABILITY ACCOUNTING STANDARD
TOPICSASB CODEDISCLOSURE OR METRIC DESCRIPTION

Product Security

TC-HW-230a.1

Description of approach to identifying andaddressing data security risks in products

TC-HW-330a.1

Percentage of gender andracial/ethnic group representation for:(1) management, (2) technical staffand (3) all other employees

TC-HW-410a.1

Percentage of products by revenue that
contain IEC 62474 declarable substances

TC-HW-410a.2

Percentage of eligible products, by revenue, meeting therequirements for EPEAT registration or equivalent

TC-HW-410a.3

Percentage of eligible products, by revenue,
meeting ENERGY STAR® criteria

TC-HW-410a.4

Weight of end-of-life products ande-waste recovered, percentage recycled

TC-HW-430a.1

Percentage of Tier 1 supplier facilities audited in the RBA
Validated Audit Process (VAP), or equivalent, by (a) all
facilities and (b) high-risk facilities

TC-HW-430a.2

Tier 1 suppliers’ (1) nonconformance rate with theRBA Validated Audit Process (VAP), or equivalent, and(2) associated corrective action rate for (a) priority
nonconformances and (b) other nonconformances

TC-HW-440a.1

Description of the management of risks
associated with the use of critical materials

TC-HW-000.A

Number of units produced by product category

TC-HW-000.B

Area of manufacturing facilities

TC-HW-000.C

Percentage of production from owned facilities

Employee Diversityand Inclusion

Product Life Cycle
Management

Supply Chain ManagementMaterials Sourcing

Activity MetricHARDWARE SUSTAINABILITYACCOUNTING STANDARD

PRODUCT SECURITY
TC-HW-230a.1: Description of approach to identifying and addressing data security risks in products.
Security and privacy requirements are integrated into ourproduct development processes. We follow security andprivacy by design principles for all our products, from design
through customer use, decommissioning and refurbishment.
Our product design process includes a security and privacy
risk analysis to verify that the product meets applicablesecurity and privacy controls and requirements. Risks
are continually evaluated as products advance throughdevelopment, production, distribution, use and discontinuation.
Vulnerabilities are resolved as they are identified and verified.
Our risk assessment processes are consistent with industry
best practices and we provide annual security and privacy
training to relevant staff.

Further, our security strategy is integrated into our supply
chain. Our supplier contracts include clauses to ensure, whereapplicable, that security patches for confirmed vulnerabilities
associated with supplier provided components and technology
are provided in a timely manner.
The Garmin Vulnerability Disclosure Policy (aligned withISO/IEC 29147) describes how we work with the security
community and greater public to address purportedvulnerabilities. When notified about a purported vulnerability,
we investigate thoroughly and, if confirmed, remediate.

EMPLOYEE DIVERSITY AND INCLUSION
TC-HW-330a.1: Percentage of gender and racial/ethic group representation for: (1) management, (2) technicalstaff and (3) all other employees.
We believe diversity and inclusion are important foundational
elements for building a strong corporate culture and talentedworkforce. We intentionally build a strong culture filled withindividuals who share our mission, vision and values. Asa global company with offices in more than 30 different

countries around the world, diversity and inclusion play animportant role in our culture and our business operations.
The following table provides the gender representation ofGarmin employees, globally, as of Dec. 25, 2021.

MALE

FEMALEOTHERManagement

7%

2%

0%

Professionals

30%

8%

0%

All Other Employees

18%

35%

0%

Total

55%

45%

0%

HARDWARE SUSTAINABILITYACCOUNTING STANDARD
The following table provides the racial/ethnic grouprepresentation of Garmin employees in the U.S. as ofDec. 25, 2021. The percentages below represent the numberof employees in each racial/ethnic group in each employee
category divided by total number of U.S. employees in eachemployee category as of Dec. 25, 2021.

ASIAN

BLACK/AFRICANAMERICANHISPANIC/LATINO

WHITE

OTHER

Management

6%

2%

3%

88%

1%

Professionals

12%

1%

3%

82%

2%

All Other Employees

9%

5%

9%

73%

4%

Data on gender and racial/ethnic group is based on employee
self-identification, and employee categories presented inthe tables are based on EEO-1 job categories. Employees
classified as Professionals under EEO-1 (or equivalent)
are included within the Professionals category. Employees
classified as Administrative and Sales Workers, SupportWorkers, Craft Workers, Laborers and Helpers, Operatives,
Service Workers and Technicians under EEO-1 (or equivalent)
are included within the All Other Employees category.

Factors that influence the metrics above include the industry
in which we operate and location of our offices. We haveinvestments to continue promoting diversity and inclusion atGarmin. As an example, our investments in STEM (Science,Technology, Engineering and Math) outreach programs serve
to educate and encourage underserved and underrepresented
groups to pursue careers in these fields. Please refer to ourCorporate Sustainability Report for additional discussion onthese diversity and inclusion efforts at Garmin. Additionally,our strict anti-harassment and antidiscrimination policies
within our Code of Conduct are enforced to ensure a safe,
respectful and inclusive work environment for all employees.

PRODUCT LIFE CYCLE MANAGEMENTTC-HW-410a.1: Percentage of products by revenue that contain IEC 62474 declarable substances.
As an electronics manufacturer, nearly all our products may
contain small amounts of IEC 62474 declarable substances.
Any product that contains a substance of very high concern(SVHC) above reportable levels is reported on the European
Chemicals Agency (ECHA) SCIP database.
Garmin complies with all applicable laws and regulations, suchas the European Union’s Restriction of Hazardous Substances(RoHS) directive and Registration, Evaluation, Authorization andRestriction of Chemicals (REACH) regulation. We continuously
monitor all legal and regulatory updates to ensure compliance.

We track the use of declarable substances in ourmanufacturing processes, including the use of any such
substances from our suppliers. Our tracking processes
enable us to monitor and screen for banned and declarable
substances to ensure our products are compliant with legal
and regulatory requirements. For additional information
regarding Garmin’s policies and practices regarding declarable
substances, please refer to our Materials webpage.

HARDWARE SUSTAINABILITYACCOUNTING STANDARD
TC-HW-410a.2: Percentage of eligible products, by revenue, meeting the requirements for EPEAT registration
or equivalent.
Not applicable. Garmin products do not fall within the scope ofEPEAT registration.

TC-HW-410a.3: Percentage of eligible products, by revenue, meeting ENERGY STAR® criteria.
Not applicable. Garmin products do not fall within the scope ofthe ENERGY STAR® rating and certification system.

TC-HW-410a.4: Weight of end-of-life products and e-waste recovered, percentage recycled.
We recycled approximately 300 metric tons of e-waste in2021. This figure includes amounts collected from Garminfacilities, customer returns and recycling events extended toour employees to bring in personal e-waste to be recycled.
Additionally, we refurbished over 80 metric tons of products
and sub-assemblies from collected customer returns.
Our approach when it comes to e-waste recycling andstewardship is to reuse or refurbish end-of-consumer life
products and sub-assemblies returned to us when possible.
When we are unable to reuse the collected end-of-consumer

life products or sub-assemblies, we recycle e-waste throughorganizations that have been certified to responsibility standards
such as e-Stewards, Responsible Recycling Practices (R2) orhave been approved by governmental agencies.
We also finance e-waste collection, processing, and recycling
through third-party organizations in certain jurisdictions.
The amount of e-waste that was collected and recycled inassociation with these programs is not included in the weight
noted above. Data on the weight collected through thesemeans is not available.

HARDWARE SUSTAINABILITYACCOUNTING STANDARD

SUPPLY CHAIN MANAGEMENTTC-HW-430a.1: Percentage of Tier 1 supplier facilities audited in the RBA Validated Audit Process (VAP), orequivalent, by (a) all facilities and (b) high-risk facilities.
TC-HW-430a.2: Tier 1 suppliers’ (1) nonconformance rate with the RBA Validated Audit Process (VAP), orequivalent, and (2) associated corrective action rate for (a) priority nonconformances and (b) othernonconformances.
Tier 1 suppliers refer to those that transact directly withthe entity for goods and services directly related tomanufacturing. Garmin serves as its own Tier 1 supplier. In
2021, we manufactured approximately 96%, by volume, of ourproducts sold. Our vertical integration business model is astrategic differentiator that we take pride in. We control ourentire process, from research and development to productmanufacture to sale and distribution.
We do not audit our facilities using the RBA Validated Audit
Process; however, our facilities operate under our Codeof Conduct, which aligns with the RBA Code of Conduct,
specifically labor rights, health and safety provisions, ethics

provisions and environmental provisions.
Regarding upstream suppliers who provide components usedin our products, we do not verify whether these upstream
suppliers have been audited in the RBA Validated Audit
Process. However, we have processes to assess theseupstream suppliers against our Supplier Code of Conduct. All
upstream suppliers must complete a supplier risk assessment
questionnaire on an annual or biannual basis. The supplier risk
assessment process helps us ensure that our suppliers aremeeting our Supplier Code of Conduct, Supplier Expectations
and Supplier Terms and Conditions.

MATERIALS SOURCING
TC-HW-440a.1: Description of the management of risks associated with the use of critical materials.
Garmin does not directly utilize critical materials, but we relyon suppliers who do. To minimize the indirect risks associatedwith the use of critical materials in sourced components, we
utilize multiple suppliers where possible and work to develop
additional suppliers for unique or sole-source components.
We also maintain safety stock for components that may besubject to supply restrictions for any reason. We align withindustry best practices to minimize the environmental andsocial impacts associated with conflict minerals and aremembers of the Responsible Minerals Initiative (RMI). Formore information on Garmin’s strategy and policy on conflictminerals, please refer to our Conflict Minerals Statement andConflict Minerals Reports.

HARDWARE SUSTAINABILITYACCOUNTING STANDARD

ACTIVITY METRICS
TC-HW-000.A: Number of units produced by product category.
In fiscal 2021, Garmin sold approximately 16.6 million units.
We do not provide the number of units produced by productcategory. We believe that the total number of units sold allows
for comparability.

TC-HW-000.B: Area of manufacturing facilities.
As of Dec. 25, 2021, Garmin’s total manufacturing square
footage was approximately 2.7 million square feet.

TC-HW-000.C: Percentage of production from owned facilities.
Approximately 96% of Garmin products sold, by volume, in fiscal
2021 were produced in Garmin-operated manufacturing facilities.