Introduction

Efficient Products and Systems

Responsible Operations

Our People

Our Neighbors

Cautionary Note Concerning
Forward-Looking Statements
This document may contain forward-looking statements
within the meaning of the Private Securities Litigation
Reform Act of 1995, and as such are not historical facts.
Such statements may include, without limitation, (1)statements that may relate to our purpose, ambitions,aims, commitments, targets, plans, and objectives andgoal progress; (2) environmental, health, and safety data
as it relates to the environment, safety performance,
management systems, implementation, and regulatorycompliance; (3) social data as it relates to employee
metrics, social practices, and community engagement
programs derived from our various databases; (4)responsible sourcing of materials and the related
responsible sourcing systems and data; and (5)statements about actions of suppliers and partners or ourwork with them. These statements constitute projections,forecasts and forward-looking statements, and are notguarantees of results or performance. Vertiv cautions thatsuch forward-looking statements are subject to numerous
assumptions, risks and uncertainties, which may changeover time. Such statements can be identified by the factthat they do not relate strictly to historical or current
facts. When used in this document, words such as “aim,”“anticipate,” “believe,” “continue,” “could,” “estimate,”“expect,” “intend,” “may,” “might,” “plan,” “possible,”“potential,” “predict,” “project,” “should,” “strive,” “would” andsimilar expressions may identify forward-looking
statements but the absence of these words does notmean that a statement is not forward-looking. When
Vertiv discusses its strategies or plans, it is making
projections, forecasts or forward-looking statements. Suchstatements are based on the beliefs of, as well asassumptions made by and information currently available
to, Vertiv’s management. The forward-looking statements
contained in this document are based on management’s
knowledge and reasonable expectations and beliefs
concerning future developments and their potential
effects on Vertiv at the time of publication. Neither future
distribution of this material nor the continued availabilityof this material in archive form on our website should be
deemed to constitute an update or re-affirmation of thesefigures or statements as of any future date. Any future
update will be provided only through a public disclosure
indicating that fact.

2

There can be no assurance that future developments
affecting Vertiv will be those that Vertiv has anticipated.
Forward-looking statements included in this document speak
only as of the date of this document or any earlier datespecified for such statements. Vertiv undertakes no obligation
to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise,
except as may be required under applicable securities laws.
All subsequent written or oral forward-looking statements
attributable to Vertiv or persons acting on Vertiv’s behalf arequalified in their entirety by this Cautionary Note Concerning
Forward-Looking Statements.
These forward-looking statements involve a number of risks,
uncertainties (some of which are beyond Vertiv’s control) or
other assumptions that may cause actual results or
performance to be materially different from those expressedor implied by these forward-looking statements. Should one
or more of these risks or uncertainties materialize, or should
any of the assumptions prove incorrect, actual results mayvary in material respects from those projected in theseforward-looking statements. Factors that may cause actual
results to differ materially from historical performance include,
but are not limited to: risks relating to the continued growthof Vertiv’s customers’ markets; disruption of Vertiv’s
customers’ orders or Vertiv’s customers’ markets; lessfavorable contractual terms with large customers; risks
associated with governmental contracts; failure to mitigate
risks associated with long- term fixed price contracts;
competition in the infrastructure technologies industry; failure
to obtain performance and other guarantees from financial
institutions; failure to realize sales expected from Vertiv’s
backlog of orders and contracts; failure to properly manage
Vertiv’s supply chain or difficulties with third-party
manufacturers; our ability to forecast changes in prices,
including due to inflation in material, freight and/or laborcosts, and timely implement measures necessary to mitigate
the impacts of any such changes; risks associated with oursignificant backlog, including that the impacts of any
measures taken to mitigate inflation will not be reflected in
our financial statements immediately; failure to meet or
anticipate technology changes; risks associated withinformation technology disruption or security; risks associatedwith the implementation and enhancement of information
systems; failure to realize the expected benefit from any

Supply Chain Integrity

GovernanceAppendix

rationalization, restructuring and improvement efforts; Vertiv’s
ability to realize cost savings in connection with Vertiv’s
restructuring program; disruption of, or changes in, Vertiv’s
independent sales representatives, distributors and original
equipment manufacturers; changes to tax law; ongoing tax
audits; costs or liabilities associated with product liability; theglobal scope of Vertiv’s operations; risks associated with
Vertiv’s sales and operations in emerging markets; risks
associated with future legislation and regulation of Vertiv’s
customers’ markets both in the United States and abroad;
Vertiv’s ability to comply with various laws and regulations
and the costs associated with legal compliance; adverse
outcomes to any legal claims and proceedings filed by oragainst Vertiv; risks associated with current and potential
litigation or claims against Vertiv; Vertiv’s ability to protect orenforce its proprietary rights on which its business depends;
third-party intellectual property infringement claims; liabilities
associated with environmental, health and safety matters,
including risks associated with the COVID-19 pandemic;
failure to achieve environmental, social and governance goals;
failure to realize the value of goodwill and intangible assets;
exposure to fluctuations in foreign currency exchange rates;
exposure to increases in interest rates set by central banking
authorities; failure to maintain internal controls over financial
reporting; the unpredictability of Vertiv’s future operational
results, including the ability to grow and manage growth
profitably; potential net losses in future periods; Vertiv’s levelof indebtedness and the ability to incur additional
indebtedness; Vertiv’s ability to comply with the covenants
and restrictions contained in our credit agreements including
covenants that restrict operational flexibility; Vertiv’s ability tocomply with the covenants and restrictions contained in ourcredit agreements is not fully within our control; Vertiv’s
ability to access funding through capital markets; VPE
Holdings LLC’s significant ownership and influence over
Vertiv; resales of Vertiv’s securities may cause volatility in themarket price of our securities; Vertiv’s organizational
documents contain provisions that may discourage
unsolicited takeover proposals; Vertiv’s certificate ofincorporation includes a forum selection clause, which could
discourage or limit stockholders’ ability to make a claim
against it; the ability of Vertiv’s subsidiaries to pay dividends;
the ability of Vertiv to grow and manage growth profitably,
maintain relationships with customers and suppliers andretain its management and key employees; Vertiv’s ability to
manage the succession of its key employees; and factors
relating to the business, operations and financial performanceof Vertiv and its subsidiaries, including global economic
weakness and uncertainty; Vertiv’s ability to attract, train andretain key members of its leadership team and other qualified
personnel; the adequacy of Vertiv’s insurance coverage; a

ESG Report

failure to benefit from future corporate transactions; risks
associated with Vertiv’s limited history of operating as anindependent company; scientific or technologicaldevelopments; evolving environmental, social, andgovernance strategies; changes in carbon markets; ourexpansion into new products, services, technologies, andgeographic regions; and other risks and uncertainties
indicated in Vertiv’s Annual Report on Form 10-K and other
SEC reports or documents filed or to be filed with the SEC
by Vertiv.
The ESG-related information presented, discussed,
referenced or otherwise included in this document or madeavailable on or through our website does not cover all
information about our business. The inclusion of information
or references, including the use of “materiality” or similarterms, should not be construed as a characterization
regarding the materiality of such information to our financial
results or that such information is necessarily material toinvestors or other stakeholders for purposes of U.S. federal
securities laws.
The ESG-related plans, initiatives, projections, goals andexpectations presented, discussed, referenced or otherwise
included in this document or made available on or throughour website are aspirational and not guarantees or promisesthat such plans, initiatives, projections, goals andexpectations will be achieved. In addition, historical, current
and forward-looking information included in this document ormade available on or through our website may be based onstandards and practices for measuring progress that are stilldeveloping, internal controls and processes that continue to
evolve, and assumptions that are subject to change.
Accordingly, such historical, current and forward-looking
information or underlying assumptions may be subject tomodifications in future disclosures due to such developing
standards, practices and controls and processes. Readersand viewers are cautioned not to place undue reliance onsuch information. This document includes non-financial
metrics that are subject to measurement uncertainties
resulting from limitations inherent in the nature and themethods used for determining such data. The selection ofdifferent but acceptable measurement techniques, including
estimation, can result in materially different measurements.
The precision of different measurement and estimation
techniques may also vary. This Report was published in May
2023. Vertiv reserves the right to update its measurement
and estimation techniques and methodologies in the future.
Any reference to Vertiv’s support of, work with, or
collaboration with a third-party organization within this report
does not constitute or imply an endorsement by Vertiv ofany or all of the positions or activities of such organization.
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Table of Contents
CEO Letter

5

Our Neighbors

44

Global Impact

6Company Overview

Supply Chain Integrity

50

Supply Chain Management

Efficient Products and Systems

12

Conflict Minerals
Supplier Diversity

Delivering Efficient Customer Solutions

Human Rights

Partnering for Progress
Product Quality and Safety

Responsible Operations

22

Governance

Environmental Management

Business Conduct

Operational Efficiency

Data Privacy and Security

Health, Safety and Wellness

ESG Oversight56

Corporate Governance

Our People

432

Appendix

Diversity, Equity and Inclusion (DE&I) at Vertiv

SASB Index

Attracting Top Talent

TCFD Index

Training and Development

GRI Reference Index

Competitive Benefits

GovernanceAppendix

ESG Report

CEO Letter
Local Impact

One Vertiv

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62

Welcome to our second annual environmental, social,and governance (ESG) report. With formalized
programs, policies, and practices, as captured in thisreport, we intend to advance environmental
stewardship, foster a safe, inclusive, and engaging
workplace, and conduct our business in a responsible
way. In turn, we believe that we will create long-termvalue for our shareholders, customers and partners.
Our customers around the globe are increasingly
focused on building a critical digital infrastructure thatis reliable and efficient with energy and water usage
while also embracing technologies that support theuse of alternative energy sources, such as solar andwind. Vertiv is an enabler of our customers’
environmental strategies as we provide products,
systems, and services that are designed to meetthese needs, such as the Vertiv™ Liebert® EXL S1uninterruptible power supply (UPS) with Dynamic
Online Mode, the Vertiv™ Liebert® DSE free-cooling
economization system, the Vertiv™ eSure™ solar
converter, and the Vertiv™ NetSure™ M Series
outdoor enclosure.
To support the decarbonization goals that many of
our stakeholders are pursuing, and because we simply
believe in doing what is right, we are evolving in theway we innovate and manufacture our products andsystems. Not only do we want to enable reliable andefficient operations for our customers, but we also
strive to improve efficiency in our own processes andoperations. This is why we continue to invest inresources, such as emissions tracking and reporting
platforms, that will allow us to measure, analyze,
improve energy use, and reduce greenhouse gas
emissions, waste, and more. Further, we continue todevelop our strategy regarding emissions reductions
and the use of renewable energy sources forcontinuous improvement in our facilities andmanufacturing process. In Europe, Middle East andAfrica (EMEA), for example, we have several factories
that purchased renewable energy for operations.
In North America, our Delaware, Ohio, facility is
installing a solar field on site as part of a larger
microgrid demonstration initiative.

Beyond working toward minimizing our environmental
impact, we also want to develop and engage our people
in creating a diverse workforce that embraces Vertiv’s
core principles of safety, integrity, respect, teamwork, anddiversity and inclusion. We strive to always ensure ahealthy and safe environment where employees feelempowered to be innovative both on and off the job.
Our employees participate in volunteer and corporate
philanthropy initiatives in support of the communities inwhich we live and operate around the world.
Keeping all of us focused on this meaningful workrequires strong corporate governance. Our Board of
Directors is kept apprised of our ESG efforts andperformance, especially as it pertains to risks andopportunities for the company. Providing these updates
is the Vertiv ESG Executive Steering Committee led by
our Chief Legal Counsel, Stephanie Gill. I appreciate their
participation in our evolution and am eager to share ourprogress regarding ESG matters with you.

Sincerely,– Giordano Albertazzi
Director, Chief Executive
Officer and President, Americas

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One Vertiv
Vertiv is a global leader in the designing,
manufacturing, and servicing of critical
digital infrastructure for data centers,
communication networks, and commercial
and industrial environments.
Our customers operate in some of the world’s mostcritical and fastest growing industries, including
cloud services, financial services, healthcare,transportation, manufacturing, energy, education,
government, social media, and retail.
Driven by passion and innovation, Vertiv believes
there is a better way to meet the world’s
accelerating demand for data. We collaborate withour customers to envision and build future-readyinfrastructures. Our portfolio of hardware, software,
analytics and services aims to enable ourcustomers’ vital applications to run continuously,
perform optimally and scale with business needs.

Keeping Our Customers Connected

Vertiv Holdings Co

So many aspects of our lives today involve the use of technology.
Connectivity is essential for our personal lives and the global
economy. Digital information is becoming increasingly integrated
into the fabric of society, and Vertiv is helping to build theinfrastructure that’s making it happen. We believe we have a
responsibility to contribute to the ongoing growth and expansionof connected capabilities while being mindful of environmental
and social practices and trends. We are doing our part bydesigning critical digital infrastructure to address energy andwater efficiency and to support customers who want to transition
to renewable energy sources.

VRT

Our industry faces environmental challenges surrounding the
growth of digital infrastructure to support the many businesses
driving digital transformation. We collaborate with our customers
and industry stakeholders to build future-ready digital
infrastructures with the goal of increasing their energy and water
efficiency and reliability.
Our portfolio of power, cooling, and IT infrastructure solutions
and services extends from the cloud to the edge of the network.
We combine hardware, software and analytics with ongoing
services to help our customers’ vital applications run
continuously, perform optimally and scale with theirbusiness needs.

New York Stock Exchange (NYSE) Stock Ticker~27,000 worldwide
Employees$5,692 million

Vertiv Brands
Albér™
Battery Monitoring
Avocent®
IT Management
Cybex™
IT Management

Revenue

E+I Engineering
Electrical Switchgear

Westerville, Ohio, USA

PowerbarBusbar Trunking

Global Headquarters

Customers in 130+ countries

Geist™
Rack PDU
Liebert®
AC Power and Thermal
Energy Labs™
Commercial and Industrial Thermal
NetSure™
DC Power
Vertiv™

6

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Vertiv at a Glance
Offering*

Geography*

End Market*
Americas
EMEA
Asia Pacific

CriticalInfrastructure& Solutions
Integrated Rack
Solutions
Services andSparesBroad range of power, thermal, andIT and edge infrastructure, solutions
and services portfolio

Data Centers
Communication
Networks
Commercial& Industrial

Global, well-established footprint
and supply-chain network

Customers who operate in some of
the world’s most critical industries
Market breakdown rounded to nearest 5%* By revenue

Global Presence

Americas

Europe, Middle East and Africa

Asia Pacific and India

Manuf. and Assembly Locations 24
Service Centers 220+
Service Field Engineers 3,500+
Technical Support/Response 220+
Customer Experience Centers/Labs 19

Manuf. and Assembly Locations 10
Service Centers 80+
Service Field Engineers 1,600+
Technical Support/Response 90+
Customer Experience Centers/Labs 5

Manuf. and Assembly Locations 10
Service Centers 65+
Service Field Engineers 650+
Technical Support/Response 100+
Customer Experience Centers/Labs 5

Manuf. and Assembly Locations 4
Service Centers 75+
Service Field Engineers 1,250+
Technical Support/Response 30+
Customer Experience Centers/Labs 9

Our History

8

Liebert Corporation formed as theindustry's first manufacturer ofcomputer room air conditioning

Emerson acquires
Liebert Corporation

Vertiv launches as a stand-alone businessexpanding capabilities and commitment tosupport the mission of designing, building,and servicing mission-critical technologies
that drive possibility for customers

1965

1987

2016

Through a business combination
with GS Acquisition Holdings,
Vertiv Holdings Co began tradingon the NYSE (VRT)

2020

1946

1983

2000

2018

2021

Ralph Liebert founds Capitol
Refrigeration Industries

Liebert acquires Programmed
Power Corporation, expanding its
UPS business

Emerson forms Network Powerbusiness, integrating criticalinfrastructure technologies
under a single brandVertiv makes its first two acquisitions,
Energy Labs, a U.S.-based manufacturerof custom air handling systems, andGeist, a leading manufacturer of rack
power distribution units

Vertiv acquires E&I Engineering
Ireland Limited and its affiliate,
Powerbar Gulf LLC, a leading
independent provider of electricalswitchgear, busway, and modular
power solutions

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Our Approach to ESG
We continue to develop our ESG initiatives to advance and maintain a strong, proactive strategy
for managing ESG matters that creates long-term value for our company and our stakeholders.
This includes our customers, investors, employees, business and supply-chain partners,
and the communities where we work and live.
Meeting the growing demand for data and critical digital infrastructure, mitigating environmental impacts from ouroperations and products, and governing and managing our business in a responsible manner are at the heart of ourapproach to ESG.
Our efforts are best summarized in six key pillars that guide the organization of this report. These pillars reflect the focus
areas where we believe Vertiv can have the greatest impact in building a more responsible business and have a positive
impact on the industry at large, while protecting the interests of our company, stockholders, and other stakeholders.

Efficient Products and Systems

Our Neighbors

We meet the demands of customers by providing
products, systems, and services of high quality,
reliability, and water and energy efficiency.

We are engaged in making a positive difference in ourcommunities, including our hometown of Westerville, Ohio,
the greater Columbus area, and around the world where wehave a footprint.

Responsible Operations
Continuously refining our operations confirms that weare making efforts to reduce overall environmental
impact by increasing efficiencies while maintaining aculture of safety that protects our team.

Our People
Our values serve as the foundation for our efforts tocreate a positive and inclusive workplace culture, whichhelps our employees and Vertiv thrive.

10

Our Key ESG Topics
We focus our approach to environmental and social matters on the topics that matter most to our company and our
stakeholders. Shortly after Vertiv launched as a standalone company, we engaged a third-party expert to conduct a
research exercise, known as a materiality assessment, to identify and help prioritize these topics.
As part of this assessment, we engaged with Vertiv leaders and cross-functional subject matter experts around the world,
as well as customers and industry analysts. We also took into consideration key standards and frameworks such as the
Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB), and the United Nations
Sustainable Development Goals (SDGs).
Through this process, we identified the following 10 topics, listed in alphabetical order, as being most
relevant to us:•

Climate change and other environmental impacts•

Ethics and integrity•

Community engagement•

Health and safety•

Data security•

Product and system reliability•

Diversity, equity and inclusion•

Supply chain management•

Employee attraction, retention and development•

Technology and innovation

Supply Chain Integrity
We expect our suppliers to uphold our high standard for
ethical business conduct.

GovernanceVertiv was founded on principles of integrity and strong
leadership, which guide the way we do business.

Connecting to the United Nations Sustainable Development Goals
In tandem with our materiality assessment, we also gauged how our identified topics relate to the UN SDGs at the target
level. While we recognize that all 17 goals are important, our material topics are most closely related to the following:11

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ESG Report

Vertiv is working to address the world’s significant demand for data and critical digital infrastructure to manage it, and at
the same time, mitigate the environmental impacts from such infrastructure. We believe that being mindful of productdesign, development, use, and disposal are important to the longevity of our industry.
Data centers, cellular sites, and other components that comprise the global digital backbone require tremendous amountsof energy and generate high levels of heat in the compute process. Our experts around the globe work collaboratively todevelop technology to address these challenges. We design, manufacture, install, and service critical digital infrastructurethat is intended to operate more efficiently by using less energy and water. Further, we collaborate with industry
associations and other partnerships to make advances in these areas.

Delivering Efficient Customer Solutions
We strive to innovate and develop products, services and solutions that enable our customers to be at
the forefront of energy and water efficiency in their infrastructure operations.

Efficient Products
and Systems

Our approach to meeting our customers’ demands for expanded critical digital infrastructure, while helping them reduce
their impact on the environment, rests on five key principles that we strive to meet when developing and deliveringhigh-performing products and solutions.

High efficiency
Design energy- and water-efficient solutions forthe market.

High reliability
Build resilient and highly serviceable equipment
that’s durable and long lasting.

Low impact
Vertiv™ Liebert® AFC adiabatic freecooling solution
is compatible with R1234za HFO, a low global warming
potential (GWP) eco-friendly refrigerant designed toreduce direct CO2 emissions.

Strive to understand and limit manufacturing
processes that may have adverse environmental
impacts, and measure and increase use of recycledmaterials in our products and product packaging.

Low touch
Enable remote troubleshooting, optimization
services and more connected systems to
improve, and reduce environmental impact
of maintenance practices.

Circular economy
Reuse, refurbish, or recycle end-of-life equipment
and materials.

12

In addition to our existing productportfolio, we introduced a number of
new power and cooling solutions forthe edge of the network that support
increasingly critical and complex edge
computing environments and support
customers’ efforts to reduce theirenvironmental impact. We provide ahigh-level overview of ourenvironmentally-friendly products
below, and in 2022, we created Vertiv’s
Sustainability Spotlight webpage tohighlight select Vertiv products,
services, and software with increased
levels of energy- and water efficiency.
Please refer to the Sustainability
Spotlight for further information.

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Thermal Management
We believe that we are a leader in energy- and waterefficient thermal management solutions. Our water-freecooling systems have saved billions of gallons of water ayear worldwide since we introduced them in 2013.
For instance, our Vertiv™ Liebert® DSE 250 kW
free-cooling economization system saves up to 6.75 million
gallons of water per year compared to a 1MW data centerusing a chilled water cooling system with a water-cooled
chiller plant.

water thermal wall units utilize low global warming potential(GWP) refrigerant and are designed to reduce carbon
dioxide (CO2) emissions, limit carbon footprint, and operatewith high energy efficiency.
Additionally, our Vertiv™ Liebert® iCOM™-S thermal systemsupervisory control, a solution we pioneered to work acrossthe data center to reduce energy consumption, provides
up to 40% higher efficiency for managing data centercooling infrastructure versus without the system.

Our eco-friendly, energy efficient Vertiv™ Liebert® AFC
inverter screw chiller and Vertiv™ Liebert® CWA chilled

Vertiv™ Liebert® EXL S1 UPS provides up to 99% operating efficiency in Dynamic Online mode, tomaximize energy usage as compared to a standard online UPS.

Power Solutions

Vertiv™ Liebert® iCOM™-S thermal monitoring and control software uses advanced control
algorithms to provide up to 40% thermal energy reduction versus without.

14

Vertiv offers a wide range of mission-critical power
products and systems that offer class-leading
efficiency by leveraging technologies such as
Trinergy™ and Dynamic Online operating mode.
For instance, our Vertiv™ Liebert® EXL S1 UPS with
Dynamic Online Mode enables operating efficiency
up to 99% and is more energy efficient as compared
to a standard online UPS. Further, our Vertiv™
Liebert® Trinergy™ Cube will automatically select,
based on input power source conditions, the mostefficient operation mode to provide greater than 98%
system efficiency without compromising criticalload uptime.

Additionally, across our portfolio we offer ENERGY STAR
certified UPS systems in eight product lines, covering morethan 70 models.
In addition to class-leading product efficiency, we also offer
UPS systems with Dynamic Grid Support features such as
peak shaving, which enables customers to protect theircritical load while reducing overall energy costs. UPS systems
equipped with such features enable our customers to utilize
the most efficient and cost-effective energy source. Further,
this feature also enables customers to participate in gridbalancing programs that contribute to decarbonization efforts
and support a transition to green energy sources.

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Alternative Energy
Vertiv solutions can enable operators to harness energy
from alternative sources, such as solar and wind.
This includes our Vertiv™ eSure™ solar converter thatconnects solar panels to -48V DC power loads used intelecommunications networks, as well as the latest
Vertiv™ NetSure™ M Series outdoor enclosure, a solution
designed to support 5G and edge networks, that enables
constant power including battery backup, temperatureand humidity control, and allows the use of solar panelsand other energy sources. We also design andmanufacture converters, which are key components
utilized in solar and wind applications to harness energy.
Further, we employ technologies that store excess energy
from alternative sources in batteries, like energy-efficientlithium-ion batteries which recharge and recover quickly.

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ESG Report

Circular Economy
For telecom cell sites, we offer solar energy solutions thatcan be used as the primary power source for remotefacilities off the power grid and as supplemental energy
sources for those that are connected to the grid. Our highefficiency rectifiers help telecom carriers save on energy
and reduce the emissions associated with energy
production.
Additionally, we offer system-wide guidance, services, andtools that help customers reduce energy use. For example,
over a decade ago we introduced one such tool, Energy
Logic, as an open-source road map that helps facility
operators identify ways to reduce energy use acrosstheir operations.

When UPS units reach the end of their usefullife, relying on them to support criticalinfrastructure becomes increasingly risky.
We introduced the Vertiv Trade-In Program in
the United States to help mitigate this risk forour customers, which allows them to upgrade
their legacy single-phase UPS systems at a
reduced cost and responsibly dispose andrecycle such units. In compliance with the
Recycling Industry Operating Standard (RIOS),
Vertiv facilitates the shipment of returned
equipment to an R2:2013-certified recycler
at no cost to our customers.

In the product design phase, we seek to identify andconsider opportunities to embed circular thinking within
the following parameters:•

Reduce scrap material that needs to be replaced over a product’s
useful life•

Confirm the product design avoids any catastrophic failures thatwould render it unrepairable before the end of its useful life•

Ensure parts that need to be replaced are resourcefully
disposable via recycling, refurbishment or harvesting•

Minimize the number of service visits required over a product’s
useful life through improved reliability and remote diagnostics

Responsibly dispose of old
UPS units when upgrading
to new, more efficientmodels, such as the
Vertiv™ Liebert® GXT5
Lithium-Ion UPS.

Vertiv™ eSure™ solar converter
connects solar panels to -48V DC powerloads at on-grid and off-grid cell sites.

“In Region, For Region” Strategy
Pressures and geopolitical risks associated with global supply chains in recent years, as well as anincreased awareness on the environmental consequences of such supply chains, prompted us to develop a
strategy to mitigate risks and potential adverse impacts on the environment.
In 2021, we began implementing our “in region, for region” strategy, wherein we seek to source components
and manufacture products within the geographic region of the markets we serve. The expected result is a
shorter supply chain with greater levels of regional independence, which we anticipate will reduce or
mitigate risk as compared to significantly relying on certain countries for the supply of components andmanufacture of products. Further, we believe that the efficiency benefits, such as a reduction in shippingand freight on the ocean or by air, will have a favorable impact upon the environment, as well as lead to a
reduction of delivery times of finished goods to our customers. In 2022, we continued to take a balanced
approach in the implementation of this strategy.

Vertiv™ NetSure™ M Series outdoor edge enclosure helps reduce dependency on the grid and diesel fuelat telecommunication sites, with the ability to leverage solar panels and other renewable energy sources.
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Partnering for Progress
Vertiv believes in collaborating with customers, peers, and other industry leaders on environmental
matters regarding critical digital infrastructure.
Therefore, we participate in a number of initiatives seeking to reduce the environmental impact of our industry.
Examples of these efforts include:

Telefónica Aims for Net Zero

The EcoEdge PrimePower (E2P2) Project

Telefónica, a leading telecommunications company headquartered in Spain, is a global organization with astrong presence in 12 countries. Having a key strategy to build a scalable platform for sustainable growth andreturns, this telco employed the Energy Savings as a Service model, relying on Vertiv’s energy efficient
infrastructure along with service expertise to confirm optimized operations. This model created immediate
reductions in carbon emissions and is expected to enable Telefónica to achieve its net zero goal by 2040.

E2P2 is a European Union-funded research project that aims
to develop and demonstrate low environmental impact fuelcells that provide economic and resilient prime power
solutions for the data center environment. Vertiv is part of aconsortium contributing to the E2P2 project.

The Sustainable Digital Infrastructure Alliance (SDIA)

Colovore Sustains High-Density Computing
Created specifically to meet the Silicon Valley’s need for infrastructure able to support next generation
high-performance computing, Colovore was challenged to drive operating efficiencies and power usage
effectiveness (PUE) as low as possible. By deploying the Vertiv™ Liebert® DCD liquid-cooled rack door
solution, the colocation provider dropped PUE to 1.1 at 50% load and is able to sustain this level of efficiency
while offering up to 50 kilowatts per rack.

SDIA is a nonprofit network of more than 100 members andpartners across Europe and beyond, working to catalyze thetransition to a sustainable digital economy. The SDIA brings
together stakeholders from across industries and fields, bothpublic and private, to realize its roadmap to sustainable digital
infrastructure by 2030. Vertiv is applying its expertise, global
reach, and leadership position in several key data centertechnology areas to support the SDIA mission.

The European Data Centre Association (EUDCA)
EUDCA is helping to contribute to the development of the
Climate Neutral Data Centre Pact, a major self-regulatory
initiative setting guidelines to help meet the European
Commission’s goal for climate-neutral data centers by 2050.
Vertiv is one of a few select companies participating in thispact to review, comment, and help guide the direction of the
response to the European Commission.

Sustainable Tropical Data Centre Testbed(STDCT)
Vertiv partnered with National University of Singapore(NUS) and Nanyang Technological University (NTU)
Singapore in the development of a state-of-the-art
data center testbed facility, to support data centers intropical locations. STDCT is a program that aims tounderstand and address the cooling needs of tropical
data centers to meet challenges pertaining tosignificant power and cooling consumptions, carbon
footprint, and increasing rack density.

U.S. Department of Energy
ARPA-E “Cooling Operations Optimized for Leaps in
Energy, Reliability, and Carbon Hyper-efficiency for
Information Processing Systems” (COOLERCHIPS)
funding will develop novel high performance, highreliability cooling systems for compute electronics.
These cooling systems will enable a new class of
power-dense computational systems and data centers.
Vertiv is partnering with several academic researchand industry leaders in funding submissions that we
expect will drive next-generation cooling technologies
that will reduce the environmental impact of coolingfor data centers.

Vertiv Guide to Data Center Sustainability
RISE Partnership Program
RISE, a key academic and institute research partner for Vertiv,
is overseeing a program to help advance sustainability in thedata center industry. We have joined other founding partners,
including Meta, Ericsson, and ABB, to contribute to thedevelopment of new technologies, system solutions, andcomponents aimed at helping improve the energy andresource efficiency of data centers.

18

In 2022, Vertiv released its Guide to Data Center
Sustainability, an online resource of best practices andemerging technologies, to help the industry advancetoward net-zero operations.

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Product Quality and Safety
Vertiv is committed to providing high-quality products that meet or exceed the customer’s requirements.
Quality and safety are always at the forefront of our design
and manufacturing processes. Vertiv’s quality management
system subscribes to the requirements for ISO 9001:2015
for all manufacturing facilities, and Vertiv is in the processof enacting ISO 14001 and ISO 45001 at key operations.
We maintain our Global Quality Policy and an active list of
our current ISO certifications on our website. In 2022, 130
of Vertiv’s sites — 77% of our global footprint — held ISO
9001 certification. This includes global headquarters,
design and Manufacturing sites and some Sales andServices Sites.
Vertiv has a rigorous factory inspection process leveraging
technology (e.g., smart torque tools to confirm accuracy of
torque measurement on critical fittings and precision leakdetection systems for coils) to augment our quality control
processes. Product quality at Vertiv starts with new
product design requirements and design validation testing.
During the manufacturing and installation processes, Vertiv
inspects and tests its products to confirm their operationand safety. The manufacturing process includes plannedand controlled inspection points managed by thescheduling program. Vertiv offers additional unit
commissioning testing to validate performance underpartial or full loads. Supporting the design, manufacturing

and service teams is a comprehensive and rigorous
supplier qualification and management process.
All processes are verified and validated by internal,
external, and customer process audits.
With regard to chemicals of concern in our products,
Vertiv’s Supplier Code of Conduct requires suppliercompliance to laws that restrict or prohibit certain
substances in products, including REACH, Restriction ofHazardous Substances (RoHS), and Toxic Substances
Control Act (TCA), among others. Vertiv reviews chemical
usage annually and reports any chemical usage over thethresholds to the EPA (for U.S. facilities). Vertiv tracks andreviews chemical usage at each facility and strictly
complies with all local environmental and safety agency
chemical reporting requirements. Additionally, chemicals
that come into a Vertiv facility are evaluated for hazards.
We then utilize appropriate personal protective equipment,
follow responsible disposal protocol, and determine if safer
alternatives are available. New chemicals or processchanges involving chemicals are evaluated and suppliers
are notified of issues. All facilities maintain a chemical
inventory that is updated by facility walk-through at least
every two years to confirm compliance.

Supply Chain Integrity

GovernanceAppendix

ESG Report“Our culture of innovation guides us both in our internal operations
and how we design, develop, and manufacture solutions for ourcustomers to address the world’s significant demand for data andcritical digital infrastructure. That’s why we partner with ourcustomers and suppliers around the world and utilize the latest
technologies to develop water-efficient and energy-efficient power
and thermal solutions for our power and thermal products,
enabling users to operate in an efficient manner.”– Stephen Liang
Chief Technology Officer and Executive Vice President, Infrastructure and Solutions

Lifecycle Assessment
In 2022, Vertiv employed the services and expertise of a lifecycle assessment (LCA) consultant to conduct an
initial detailed LCA on a Vertiv DC power product. This pilot LCA provided Vertiv a better understanding of:•

The data requirements needed for a full functioning LCA•

The process of building an LCA•

How to interpret the results of an LCA•

How to leverage an LCA model as a tool to make decisions for improved environmental management

From this study, Vertiv is working to implement resources, processes, and protocols to enhance its capabilities
in an effort to complete further studies across product lines. The findings of these studies will support
customer decision-making through better understanding of the environmental impact that Vertiv products
have on their infrastructure. They will also show customers how Vertiv might develop and implement
processes for a reduction in overall environmental impact in terms of carbon, water and waste.

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We believe that all businesses and organizations have a responsibility to the environment. Vertiv’s leadership profoundly
believes that adopting environmental standards is in the interest of our employees, customers, shareholders, and thecommunities in which we operate. We strive to conserve energy and minimize our carbon and waste footprints by working
to improve the efficiency of our products, facilities, and processes.
As part of our goal of continuous improvement, Vertiv leverages our Vertiv Operating System (VOS) as anenterprise-wide approach to train employees on and hold them accountable for identifying and eliminating waste in
our production processes. As described below, we are continuing to work toward establishing a baseline of our global
environmental footprint. This will help us set, pursue, and ultimately achieve, our environmental goals.
Our plan is to continue working with local facility and procurement leaders to put forward environmental improvement
initiatives and build on the changes we’ve already implemented in our locations around the globe. All of our facilities aregoverned by our Corporate Environment, Health and Safety (EHS) Policy, which details responsibilities, regulations, andrequirements for fostering a safe and environmentally responsible workplaces for our associates, visitors and customers.
We elaborate more on the EHS Policy in the Health and Safety section of this report.

Environmental Management
Vertiv employs environmental management systems at our manufacturing facilities across ourworldwide footprint.
Our environmental management systems are developed in alignment with globally recognized standards from ISO, theInternational Organization for Standardization, and we are working toward achieving ISO certification for all of oursignificant sites and business units.
Many of our sites have achieved the ISO 14001 certification, the leading credential for responsible administration of anenvironmental management system. In 2022, we determined relevant certifications for each site and created a roadmap
that prioritized certification at key locations. As of December 31, 2022, 63% of Vertiv’s eligible locations carry the ISO
14001 credential.
In addition, we have corporate environmental policies that guide the foundation of our practices across our operations,setting a global standard. Each location may have additional measures in place per local regulations.

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Operational Efficiency
In 2022, we advanced tracking and monitoring of our key environmental impacts by partnering with an environmental
consultant to streamline processes to gather environmental impact metrics, including greenhouse gas (GHG) emissions,energy use, water consumption, and waste generation and recycling. This partnership lends additional credibility to ourreporting by confirming a high level of data integrity and continuity in process. Based on this analysis, we are evaluating
and developing action plans to reduce our Scope 1 and 2 GHG emissions, as well as other key environmental impacts.

Emissions and Energy
In 2022, we implemented a number of energy- and carbon-efficiency projects across our global operations:•

In China, the Vertiv Mianyang facility recently earned
the “Green Plant” title by the Sichuan provincial
government for its sustainability efforts, including its
emphasis on efficiency and recyclability embedded indesign and production, as well as the role the plant
plays in supporting the development of a moreenvironmentally-friendly local economy.

•

Across EMEA, several Vertiv factories purchased
renewable energy for operations, with more planned tofollow suit in future years. Additionally in 2022, ourE+I Engineering Burnfoot location in Ireland installed asystem that recycles and reuses all process water inmanufacturing, reducing the overall water consumptionof the site.

•

In North America, our Delaware, Ohio, facility is
installing an on-site solar field, as part of a larger
microgrid demonstration initiative that will help build
local power resiliency and enable our efforts ofdeveloping the next generation of energy efficient
products and systems.

•

In EMEA and North America, we piloted the use of
hybrid vehicles in our Services fleet. The initial results
were positive and we plan to continue to expand theprogram with additional hybrid vehicles in future years.

•

In India, we installed an additional 700 kilovolt-amps(kVA) of regenerative loads, which recycles unit output
power into usable energy, thereby significantly
increasing the energy efficiency of our operations.

These efforts reduce our environmental impacts, as well as our long-term operating costs, making clear the business andimpact case for sustainable manufacturing practices. Looking forward to 2023, we are seeking to continuously improve
our footprint. For example, select facilities are in early discussions about partnering with local providers to evaluate
options for transition to renewable energy.
We also monitor non-GHG emissions from our operations, referred to as permitted air emissions, which are minimal andimmaterial in scope.

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Health, Safety and Wellness
For innovation to flourish, we believe a safe and healthy workplace is essential.

Occupational Health and Safety Management System

Vertiv prioritizes the health and safety of our global workforce and anyone who enters our facilities or interacts with our
products. We believe that we have an effective EHS strategy that is evidenced in our strong safety record, including our
total recordable injury rate relative to certain peers.

We employ a global occupational health and safety
management system to govern EHS. Our management
system applies to employees, temporary associates,
contractors, and subcontractors and is equivalent toISO 45001:2018, an international standard designed toreduce risks and create better, safer working conditions.
As of 2022, 49% of our eligible facilities have received ISO
45001:2018 certification, and our goal is for all eligible
facilities and service regions to be certified. Visit our
website for a comprehensive list of Vertiv locations
that have achieved ISO certification for their
management systems.

Vertiv Corporate EHS Policy
Our Corporate EHS Policy includes requirements
and standards for EHS across the company.
It covers all Vertiv employees, as well as contractors
and members of the public who are on company
premises. We augment this policy with
an EHS manual that provides information on abroad array of EHS topics and site-specific policies
and procedures.
Safety is of fundamental importance to Vertiv.
At Vertiv, we believe that all businesses andorganizations have a responsibility to provide a safe
working environment to their employees. We strive
to improve upon and implement policies andpractices aimed at preventing harm to individuals
and the communities where we live and operate.
Our goal is to prevent all incidents, injuries, andoccupational illnesses by actively identifying andeliminating or reducing safety risks.
Our EHS efforts are visible at the highest levels of
the organization. We recently enhanced ourmonthly EHS performance scorecard withadditional key performance and leading indicators.
This scorecard is reviewed monthly by our CEO
and executive leadership team, and it informs ourEHS reporting to the Vertiv Board of Directors.

26

At Vertiv, safety starts witheach employee holding
themselves and their colleagues
accountable. We’ve built arobust culture of safety throughpractices that include risk
identification and reduction,
setting standard processes andprocedures, reporting andtraining to prevent incidents,
and continuous improvement.
Vertiv is committed toconsulting workers andencouraging their participationin the safety processes.

Our comprehensive EHS manual details responsibilities,
regulations and requirements that we make available toall employees. Additionally, all Vertiv managers are
expected to promote and enforce our EHS policies.

Vertiv’s regional and functional EHS leaders are
responsible for maintaining and updating EHS guidelines,
which include emergency procedures, training standards,
accident reporting procedures, fire safety procedures,roles and responsibilities, and other important information.
Some facilities may institute additional safety measures
based on local regulations.
All employees and temporary associates are covered by
the health and safety management system in our facilities
and service operations, which are audited by internalteams for hazards and risks at least annually. In addition,
external contractors and vendors working on behalf ofVertiv are covered by a contractor safety policy in thosesame operations.

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EHS Risk Management
Vertiv has processes in place to identify and eliminate
or reduce work-related hazards and assess risks on aregular basis. This includes comprehensive incident
reporting and hazard communication safety programs,
as well as a stop-work authority policy.
Our Incident Reporting Safety Program assists us in
effectively reporting injuries and incidents to theappropriate supervisors and managers, investigating
incidents to determine the root cause, and taking
corrective actions to minimize or eliminate future
occurrences. The program applies to all Vertiv
employees, contractors, and visitors at Vertiv
facilities, customer sites, and other locations.
All employees, including those who witness an event,
are required to report incidents to their supervisor or
manager and follow appropriate protocol. Safety leaders
are responsible for overseeing accident reporting andinvestigation, as well as data tracking, and the facility orservice center leadership team is responsible for aiding
during investigations, ensuring investigators areadequately trained, determining corrective actions, andensuring those actions are fully implemented.
Our Hazard Communication Safety Program provides
employees, visitors, customers, and service providers
access to safety, health, and emergency information
regarding chemicals used at Vertiv facilities or job sites.
Every manufacturer or importer must provide a safety
data sheet (SDS) for any hazardous chemical they
provide. Vertiv sourcing managers are required to obtainthe sheets, which are then uploaded into an SDS
management system.

Our employees are responsible for following Vertiv’s safety
policies, including using personal protective equipment,
reporting containers that are unlabeled, and actively
participating in required training. Leaders within EHS,
Operations, and Quality are responsible for overseeing oursafety program.
Per our stop-work authority policy, all employees have theauthority and obligation to stop any task or operation if they
believe the workplace is unsafe. Work is not allowed toresume until all stop-work issues and concerns have beenadequately addressed.
Vertiv communicates relevant safety information regarding
our EHS efforts through digital communications, meetings,
individual conversations with EHS representatives, andother methods.

“The mission of Vertiv’s EHS team is to protect Vertiv
and Vertiv’s employees from environmental, health, andsafety risks so they can be prosperous and achieve theirgoals. A robust ESG system is critical to that mission
while simultaneously allowing Vertiv to be bothcommercially successful and socially responsible.”– Dan Rapp
Director of Manufacturing and Environmental Safety

In addition to reporting issues at their respective work sites,
employees are also encouraged to submit safety suggestions
and improvements through our Good Catch program, where
we recognize and reward employees for their contributions.
We actively promote worker participation in developing,
implementing, and evaluating our occupational health andsafety management system through safety committees that
include both management and hourly employees.
These committees meet frequently to review incident trends,
make recommendations, and inspect areas of concern.
Final decision-making authority on corrective actions rests
with designated members of management.

Vertiv maintains many other programs, policies, and systems designed to mitigate EHS risk. These include:

28•

Confined Space Entry•

Hazard Communication•

Medical and First Aid•

Contractor Safety•

Hazardous Materials•

Personal Protective Equipment•

Control of Hazardous Energy•

Incident Reporting•

Safe Behavior Observations•

Emergency Planning•

Industrial Hygiene•

Signs and Marking of Physical Hazards•

Environmental Management•

Job Safety Analysis•

Support Committees•

Ergonomics•

Management Systems•

Training Systems and Records•

Facility Management•

Material Handling and Storage•

Walking-Working Surfaces•

Fall Protection•

Machine Guarding•

Vendor Management•

Fire Protection•

Management of Change

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EHS Training
Employees should understand their roles, rights, and responsibilities regarding EHS. At Vertiv, EHS training is a conditionof employment and is provided to all employees upon hire and throughout their employment with Vertiv. As part of thistraining, we address at least 12 important EHS aspects. Specific areas of training include incident reporting, emergency
response, personal protective equipment, lockout-tagout, safe tool use, and other topics pertaining to workplace risks.
In addition, we have regular EHS leadership training sessions, globally and at the regional level. Training for our service
team is standardized globally, while training at our manufacturing facilities is tailored to local regulations and the typesof activities within the plants.

Protecting Our Contractors and Customers
Across Vertiv’s global operations we strive to make ourfacilities as safe as possible for everyone, including
external contractors, vendors and customers. We have acontractor safety policy that details the rules, regulations,and requirements for contractors working within ourfacilities. Contractors must complete a safety questionnaireand site safety orientation prior to entering our facilities.

For customers visiting our sites for product demonstrations
and other reasons, we have specific safety protocols thatthey must follow. We pre-qualify our contractors working at
customer sites and review their safety policies andprograms to consider whether their safety expectationsalign with ours. We also conduct periodic site safety audits
to confirm they are following safe work practices.

EHS Performance
We track key EHS performance metrics at the global and regional levels. We have set internal leading and lagging
indicators to drive positive performance over time. Our key rates, disclosed below, trend well below average for theindustries in which we are active.
Metric2022

Total Recordable Incident Rate (TRIR)10.20

Serious Injury or Fatality Exposure Rate (SER)2

0.14

TRIR is calculated as total number of recordable cases x 200,000, divided by total hours worked by all employees during
the reporting period, consistent with the standard OSHA methodology.

1

2
SER is calculated as total number of serious incident exposures x 200,000, divided by total hours worked by all
employees during the reporting year.

Wellness
Vertiv recognizes and appreciates the vital role health plays in the overall well-being of our workforce, and we
proactively provide resources to inform, inspire, and safeguard our global team. We require all of our manufacturing
sites and service regions to have ongoing worker wellness initiatives, and we regularly promote wellness for all of ourglobal employees through company communications, incentives, and wellness events. Examples include walking andweight loss challenges, smoking cessation, biometrics screening, heart health events, and much more.

In 2022, Vertiv joined the World Federation of Mental Health(WFMH) in celebrating World Mental Health Day.
We shared resources with our global employees and highlighted stories of struggle and success to emphasize Vertiv’s
goal to safeguarding the mental health and happiness of our employees on and off the job.
Our wellness initiatives are comprehensive, featuring frequent workshops on topics such as Building Resilience andFinding Your Balance, in addition to employee hobby clubs centered around common interests and activities, such as
mindfulness, walking and book clubs.
Wellness programs are supported by wellbeing ambassadors, who are Vertiv colleagues that serve as internal
champions and leaders that help other Vertiv employees learn about opportunities available to them and how to get
involved with initiatives..

On-Site CareAs required, our larger manufacturing facilities have occupational health clinics with either an occupational
nurse or an occupational health physician and supporting nurses, depending on the size of the site.
Our smaller facilities partner with local occupational health clinics that provide care for occupational injuries
and illnesses, wellness programs, vaccinations, and other services. All full-time, part-time, temporary, andcontract employees have access to our occupational health clinics. The clinics may also serve external
contractors and visitors who are injured while on site.

30

All wellness programs at Vertiv are available in the Wellbeing Corner, an internal site that operates asa hub for all wellness offerings.

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Vertiv’s culture promotes employee innovation. From the C-suite to the manufacturing floor,
we challenge ourselves to bring ideas to life and initiate new projects across our teams.

Our People

Our roll-up-your-sleeves culture creates an environment where employees are empowered to collaborate, learn,
and teach others through their experiences. We seek honest people who put a premium on learning throughexperience and those who embrace our core principles.

Core Principles•

Safety•Teamwork•

Integrity•

Diversity and inclusion•

Respect

Turning Principles Into Behaviors
Our principles are much more than words on paper. In 2022, we refreshed our core behaviors to betterreflect the culture of our team.
We expect our employees to emulate and display various behaviors, including:32•

Own it•

Act with urgency•

Foster a customer-first mindset•

Think big and execute•

Lead by example•

Drive continuous improvement•

Learn and seek out development

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DE&I at Vertiv
Diversity, equity and inclusion are important goals for any company, and at Vertiv they mean:

In 2022, we introduced the Vertiv DE&I Statement, which captures our approach and commitment todiversity, equity and inclusion.

Diversity and Diverse: The ways people differ.

To build a world where critical technologies always work,
Vertiv must nurture, empower, and celebrate a diverse
and inclusive high-performing culture. We aim to attract,develop, and retain qualified, diverse global talents. We
must value innovative ways of thinking and uniqueexperiences to connect our employees with ourcustomers and community.

Equity: Creating fair access, opportunity, and advancement for our employees.
Inclusion: Promoting a work environment in which team members, employees, and other people feel
involved, connected and valued.
At Vertiv we believe that innovative solutions are often developed from having diverse viewpoints and perspectives at thetable. We endeavor to foster a workplace that supports and promotes diversity, embraces inclusion, and cultivates
respect. Since going public in 2020, Vertiv has continued to take actions to cultivate its DE&I processes and programs.

When we celebrate our seen and unseen differences, we
strengthen our commonalities. At our core we arecommitted to respecting all people and prioritizing
continuous self- and organizational improvement,
curiosity, growth, and education. We set this bar high forourselves because your uniqueness and voice matter.

We respect the dignity and human rights of individuals
and create a safe work environment for Vertiv employees,
partners, customers and affiliates. We do not tolerate
discriminatory, defamatory, or exclusionary behaviors.
Vertiv’s Chief Human Resources Officer oversees andleads the development and execution of our humanresources strategy, which includes DE&I. As a member ofthe executive leadership team, the CHRO reports directly
to the CEO and provides regular updates of thecompany’s initiatives to the Board of Directors andcompensation committee. The Board and committee
oversee DE&I performance, as well as attraction andretention of our talent.

Building the Foundation for DE&I
Our Code of Conduct outlines Vertiv’s expectations for our employees and other stakeholders.
The Vertiv Code of Conduct, among other matters, sets forth certain key DE&I principles as follows:••

We promote inclusion and equal opportunities withrespect to hiring, terms of employment, mobility,
training, compensation, and occupational healthwithout discrimination.
Employees are encouraged to expand the diversity ofcandidate pools and to be open and welcoming to avariety of different points of view and backgrounds.

•

We wish to build and foster an inclusive culture where
employees have opportunities to grow, develop, lead,and effect positive change.

•

We believe in diversity, inclusion, and equal
opportunity not because it is the legally responsible
thing to do, but rather, it is the right thing to do, andultimately, it benefits Vertiv.

Our Equal Employment Opportunity policy statement, included in our Code of Conduct, states that there will be nodiscrimination or harassment against an employee or applicant on the grounds of age, race, color, religion, creed, sex,
marital status, sexual orientation, gender identity, genetic information, citizenship status, national origin, protectedveteran status, political affiliation, disability, or any other status or characteristic protected by applicable law.

“Participation from all members of a diverse workforce isimportant to sustain a high-performance culture, and it
requires a belief in fair treatment. At Vertiv, this underpins
our approach to DE&I. We fully understand the advantagesof a workforce that is diverse in age, ethnicity, gender andbeyond. We believe that it is with differing viewpoints andskillsets that we can deliver a unique value proposition for
all our stakeholders.”– Cheryl Lim
Chief Human Resources Officer

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Women in Leadership

Serving the Needs of Service Members

Despite significant progress over the last couple of decades, women remain underrepresented in a myriad of careers,
especially in industries focused on science, technology, engineering and mathematics (STEM).

Vertiv is honored to employ active military service members and veterans.

At Vertiv, we’re making progress in changing this landscape. Vertiv has appointed the following women executives in thepast three years to lead their respective functions — Sheryl Haislet, Chief Information Officer; Stephanie Gill, Chief LegalCounsel; and Cheryl Lim, Chief Human Resources Officer.

Vertiv provides employee service members the flexibility needed to attend any required training and serve theircommunities when deployed. Whether managing COVID-19 vaccination sites, facilitating citizen safety during times ofprotest, or responding to natural disasters, these individuals have our full support.

DE&I Training
In 2022, we continued to take steps to advance our DE&I training efforts.
20 Women to Watch

LOGO

Capacity Media named CIO Sheryl Haislet, as one of 20 women to watch in2022. This award celebrates the success of women across the IT, telecom,and technology space who achieved results and reached major milestonesin their respective fields while breaking down barriers in the process.
Additionally, Sheryl was awarded the 2022 Ohio CIO Global ORBIE in the
category of organizations with more than $1 billion in annual revenues andmulti-national operations. The ORBIE recognizes chief information officers who
have demonstrated excellence in technology leadership.

CRN 100 People You Should Know - 2022
CRN, a publication that provides news, analysis, and perspective for solution
providers and technology integrators, named Christina Pageau, Senior Global
E-Commerce Marketing Manager, to its elite list of 100 individuals whose insightand ingenuity help drive channel partners success. CRN honored Pageau forher efforts in building a team from scratch to manage the end-to-end process
for product listings and content to help confirm customers are able to find theright Vertiv solutions on channel partner websites. In addition, the outlet named
Katie Royse, Partner Marketing Manager, to its list of 2022 Rising Female Stars.

•

We launched DE&I education and training sessions for our company’s senior management and other global andregional leaders, and continued training on unconscious bias. We expect to roll out these courses to an extendedgroup of employees in 2023.

•

Vertiv maintains courses on unconscious bias, inclusivity, and other DE&I topics, which are available to employees
through the LinkedIn Learning platform to complete at any time.

Promoting Cross-Cultural AwarenessVertiv sponsored a multi-year program in which certain locations developed videos spotlighting theirrespective cultures for employees to access. Participating locations included Argentina, Brazil, China andIndia. Additionally, our offices in Manila, Philippines and Cluj, Romania, engaged in a cultural exchange day,learning about each other’s food, music, style, and other cultural practices. In Australia, our offices celebrated#HarmonyDay with employees bringing in food of their choice for an international lunch.

DE&I in Talent Processes
DE&I influence is prioritized in two areas of our talent acquisition andrecruitment strategy — senior-level roles and early career programs.

Economic Times Awards for Corporate Excellence
The Economic Times Awards for Corporate Excellence (also referred as ET
Awards) are the awards conferred by The Economic Times in the field of
business, corporate and government policies and economies in India. It is anannual award, conferred in various categories. The Economic Times recognizedDipti Singh, Director – ASI Portfolio Marketing (IRS) and India Marketing at Vertiv
Energy Limited in the Award Category: Channel/Partner Marketing at the third
edition of The Economic Times – Most Promising Tech Marketers 2022, Mumbai.

36

WAVE, a Vertiv employee resource group(ERG), is focused on women in leadership,holds meetings, presentations, and events on
multiple DE&I topics that enrich the learning
opportunities offered to our employees.

For senior-level roles, our current focus is on building processes toincrease attraction of diverse gender and ethnicity representation ininterview slates. We expect this to have the impact of increasing
diversity in our selection process. Our early career programs look toleverage the growing diversity found in college and university
student populations.

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Attracting Top Talent
We recognize that competition in today’s labor pool remains fierce for top technology and engineering
talent. Vertiv has a vested interest in attracting, developing and retaining top talent, and to that end,
continues to research, develop, and enhance our programs to do so.

Focused Recruitment Efforts
Vertiv has sought to fill engineering and research and development (R&D) positions to keep pace with our rapid
expansion and accelerated focus on R&D. This includes the ramp up and expansion of capabilities at our R&D Center of
Excellence in Monterrey, Mexico, and expanded operations around the world. In 2022, Vertiv hired 410 qualified engineers
to continue to bolster and expand our product development and innovation initiatives. Further, we focused hiring efforts
on our Global Engineering Hiring HUBs include Monterrey, Mexico; Pune, India; Zagreb, Croatia; and at the WestervilleCorporate HQ.

Emphasis on Early Career Hiring
Vertiv continues its efforts to recruit young professionals for a wide range of positions across the company. We continue
our work to strengthen our pipeline of talent within our workforce. Of note is our commitment to rotational and leadershipdevelopment hiring at our corporate headquarters in the areas of sales, finance and human resources. Further, we areworking to build the necessary infrastructure to increase and sustain early career hiring at Vertiv’s global and regional
HUB locations: Manila, Pune, Cluj, Monterrey and Westerville. Finally, we are focused on our ongoing internship programsin an effort to attract and hire participating students as full-time employees upon their graduation.

In 2022, Vertiv received accolades for our early career programs at regional and local levels:•

RippleMatch, the leading organization connecting the university population with companies and job
postings, recognized Vertiv as a RippleMatch 2023 Campus Forward Award Winner.

•

Harvard Business Review recognized Vertiv with the Outstanding Management Award in 2022, of
which employer brand is a significant component.

•

Yonyou recognized Vertiv with the Excellent Practice Award for Campus Recruitment in 2022.
We also won 2022 regional awards, such as The Best Employer Award in Shenzhen from Zhi Lian,
100 Employer Excellence Award of China from 51 Jobs, and Extraordinary Employer Award in
Guangdong from Lie Pin; all in 2022.

Vertiv Taps University Talent
Vertiv expects to increase its hiring from universities and colleges over the next few years.
The following are some of the ways we’re working toward executing this initiative:
In Southeast Asia, Vertiv is attracting talent through our Program for Aspiring Vertiv Engineers (PAVE) initiative.
This robust effort gives young professionals the opportunity to participate in creative projects, receive career mentoringfrom experienced Vertiv engineers, and explore career pathways in sales, technical solutions, and business and market
development. These programs are vital in supporting the hiring growth planned in 2023 at our Global HUB in Manila.
In China, Vertiv has been increasing our number of early career hires for more than a decade. In 2022, we hired 172 young
professions as a result of the China New Grad program, which represents a record high for the initiative.
In India, Vertiv has increased hiring through Graduate Engineering Trainees (GET) and Diploma Engineering Trainees(DET), for a total of 51 engineer hires in 2021 and 2022. Vertiv’s early career programs across the broader Southeast Asia
and India region accounted for just under 100 hires in 2021 and 2022 with less than 10% attrition.
In EMEA, the Vertiv Next Generation Program is designed specifically for university graduates who wish to accelerate
their career by working with experienced Vertiv professionals who support them through their first year with our company
and involve them in substantive work. Areas of emphasis include engineering, application engineering, sales, and services.
Through the Vertiv Next Generation early career program, we hired 82 young professionals in 2022.
In Romania, our Center for Operational Excellence located in Cluj will drive hiring for finance and business support talent,
specifically in the areas of sales, engineering and operations. We will be focused in 2023 on building strong support forearly career programs and hiring at this location.
In the U.S., we continue to assess and evolve the summer internship program to meet the demands of our U.S. businessand global headquarter operations. We had 43 summer interns in 2022. The focus for Vertiv is shifting to a much moretargeted internship program, prioritizing a pipeline for leadership development, engineering and operations. Our goal overthe next three years is to hire 75% of interns into full-time roles upon graduation.
•

To complement the U.S. summer internship program, Vertiv has invested into early career hiring within the Services
organization. The Field Services Development Program strives to develop early career talent into high-performing
Vertiv employees. The inaugural class consisted of eight hires in January 2023.

In Mexico, we are forging a partnership with Tecnológico de Monterrey, one of the top engineering schools in the country,
wherein Vertiv has plans to significantly invest in engineering and testing labs at the university to foster and develop
engineering talent in the region. Together, Vertiv and Tecnológico de Monterrey will engage students through companysponsored projects, career planning, and post-graduate opportunities. In addition, Vertiv has cultivated relationships withthe three leading universities in the Monterrey region. The inaugural intern class included five engineering students withthree having been hired full-time and one remaining as an intern. Vertiv anticipates these numbers growing as Vertiv
continues to invest in the location.

We appreciate this recognition and are looking forward to the continued rollout and success of these early
career programs.

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Training and Development
To meet evolving customer needs, Vertiv employees have access to a portfolio of in-house learning
experiences, in addition to on-demand courses offered through LinkedIn Learning. Vertiv also supports
qualified employees who wish to pursue additional third-party certifications or higher education throughtuition sponsorship or assistance.

In 2022, Vertiv employees received approximately 378,000 hours ofboth general and position-specific training.
All new employees attend My First 90 Days @Vertiv, an orientation that accelerates their familiarization with thecompany and provides a high-level overview of our products. In 2022, we continued with our extensive efforts to train
all employees in the Vertiv Operating System, a system that is intended to promote improvement and efficiency in ourcompany’s operations.
All employees also receive regular training on health and safety (see page 30), the Vertiv Code of Conduct (see page 57),
and other instruction. In addition, Vertiv provides in-depth development opportunities tailored to specific needs andjob functions.

Service Engineers – Our service technicians receive
extensive training to enhance their technical skills andpreserve their safety while they service our products inthe field. All new service technicians attend at least 8
weeks of training and technical learning in their firstyear with Vertiv (depending on the region), withadditional training provided as they become qualified toprovide services on more advance, complex products
and systems. Throughout their employment with Vertiv,
they also receive regular training on product updates
and new products through a combination of in-person
training at one of our several academy locations,virtual training delivered remotely, or through online
self-paced methods and on-the-job training.
Specialized Personnel – Vertiv design engineers, IT
experts, and other technical specialists undergo a wide
range of trainings, such as Design for Six Sigma anddigital skill sets. Sales representatives receive regular,interactive training on our products and solutions andtraining to enhance their sales skills.

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Professional Development – Vertiv makes professional
development programs available to all employees, such as
dealing with conflict and building resilience. Those inmanagerial roles have access to manager and leadershiptraining offered on demand through the LinkedIn Learning
library, or on a regular basis through in-house designed
courses such as Managing@Vertiv.
Learning Academies – Vertiv operates 14 training centers
across the globe, focusing on all areas of our business.
This geographically distributed approach to campuses andfaculty is designed to provide speed, consistency, andaccess in the training process, allowing our service
engineers to remain safe and current on our products inthe field.

Reviewing Employee Performance
Salaried and services employees, representing approximately 67% of our workforce, participate in our comprehensive
annual performance review process. The four components of the annual review process are meant to encourage directconversation where candid feedback can be shared to help our employees develop, achieve their career goals, and drive
our high-performance culture.
Reflect – This process allows employees, managers, and other stakeholders to provide feedback on accomplishments
and areas for improvement in the last year.
Review – Leaders gather in a meeting with their managers and peers to discuss the performance, potential, risks, anddevelopment actions for each of their team members, as well as the talent gaps, succession plans, and talent actions fortheir organizations. Open dialogue is encouraged in this meeting to support the calibration of ratings and refine our talentdevelopment strategy.
Share – This conversation between manager and employee, is where the manager shares stakeholder feedback,coaching, performance and behavior reviews. Starting in 2022, a greater focus has been emphasized through manager
training to ensure that managers provide detailed, candid, and direct feedback to ensure a better employee
understanding of areas for improvement and development.
Reward – Merit and incentive programs are developed to confirm differentiation and pay-for-performance as a way toreinforce our culture and values.
Vertiv is striving to develop a robust pay-for-performance culture where employees are recognized and rewarded for theirexemplary performance to ensure competitive pay and retention. This year featured the first time we integrated both theperformance and compensation discussions into one conversation to confirm alignment on pay and performance.

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Competitive Benefits
Vertiv offers an array of benefits to both full- and part-time employees, which varies by country andregion. Full-time employees comprised approximately 99% of our workforce as of December 31, 2022.
Benefits include but are not limited to health and life insurance, flexible paid time off, parental leave, retirement plans, andmore. We revisit our benefit plans annually to address the demands of an increasingly competitive marketplace for talent
and are working to inventory all global benefits for strategic plan management and establishment of priority objectives for
all countries.
As an example of how benefits are addressed annually in the U.S., last year Vertiv evaluated program participation andengagement to determine efficacy of each offering. The company prioritizes user experience for members when
determining what behaviors to incentivize as part of their well-being efforts and adjusts as needed. The company offers
health plan options that support consumeristic behaviors, encourages utilization of wellness and preventive services, andinvests up to $1,000 in Health Savings Accounts or Flexible Spending Accounts for those who actively monitor theirhealth. Vertiv also enabled various resources to support employee well-being within three strategic pillars of health, wealthand life, which included:••

Dual-option Employee Assistance Program in which
employees may use two services to access free mental
well-being counseling sessions, assistance with finding
childcare, legal assistance, and more.
A robust series of financial-well-being webinars hosted
by Vanguard with more than 100 employees registeringon average.

•

Feature story articles on Vertiv’s intranet providing
education on mental health awareness.

•

Free generic preventive prescriptions.

•

A new wellness incentive portal and comprehensive
tobacco-cessation programs.

The strategic pillars of health, wealth and life provided in the U.S. benefit example is also being deployed globally.
For example, a new Employee Assistance Program was launched in Canada as a best practice resource for Vertiv.
Utilization of health, wealth and life services is promoted and encouraged as the company plans for global program
enhancements moving forward.

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Vertiv Incentive Plan
For eligible employees, Vertiv offers long-term equity
incentive compensation pursuant to its 2020 Stock
Incentive Plan and plan guidelines, which include
grants of restricted stock units and stock options.
For eligible employees, Vertiv offers a variable
performance-based cash bonus compensation planpursuant to the terms of the Vertiv Incentive Plan.
Further, for eligible sales employees, Vertiv offers local
performance-based cash compensation pursuant toterms of local sales incentive plans.

Workforce Transition
When employees leave, we conduct exit interviews togain feedback on how to improve the workplaceenvironment and employee satisfaction.
If employees are impacted by workforce reductions orother reasons, Vertiv provides transition assistance.
In the U.S., outplacement services help exiting
employees obtain new positions with all costs paid
by Vertiv. We provide a similar service to employees
in the EMEA region. Where applicable, we offer
employee assistance in accordance with all local laws
and regulations.

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In our home base of central Ohio and all around the world, Vertiv supports the communities
in which we operate with innovative volunteer and corporate philanthropy initiatives.
Through both national and local partnerships, our company and our people provide support
to those who need it most.
In 2022, we focused our global community and philanthropic efforts in supporting four impact areas:

Our Neighbors•

Education with an emphasis on STEM•

People in need•

Healthcare nonprofits and advocacy•

Environmental improvements in local communities

Our employees play a key role in our community programs, which makes it a priority to encourage their engagementwith our initiatives as a company. We offer volunteer time off (VTO), which is paid time off for our employees to spend
volunteering, and we also support the causes our employees care about with donation matching on select charitableprojects. We seek to actively organize opportunities for employees to donate their time or charitable contributions tocauses aligned with our philanthropic impact areas.

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Local Impact
We seek to engage our colleagues and partners to drive positive change in our communities.

Partnership With PCs for People
In 2022, Vertiv partnered with PCs for People, an organization that refurbishes computers for no or low cost to eligible
local community members with low incomes. PCs for People also responsibly recycles unusable computer materials.
Vertiv supplied 346 computers for refurbishment, which resulted in supporting lower-cost access to 400 individuals
through PCs for People’s work.
In environmental terms, Vertiv’s partnership with PCs for People diverted 7,276 pounds of electronic waste from landfills,
equivalent to preventing 38.6 metric tons of CO2 emissions from entering the atmosphere.

Holiday Joy
Brought to kids at the local children’s hospital,
thanks to money raised by our Columbus,
Ohio-based inside sales teams to purchasetoys for these young patients.

Over $47K

Teaming Up With the Columbus Crew
Vertiv is a Founding Partner and Official Data Center Equipment Provider of the Columbus Crew, a Major League Soccer(MLS) team based in our hometown. Through our partnership, we created a customer experience center at Lower.com
Field, the Crew’s stadium, to showcase how Vertiv products enable a high-tech, connected fan experience. We also join
forces on community engagement and other educational activities.

In 2022, our continued partnership yielded some memorable opportunities to give back to thegreater Columbus area.

Raised by the Vertiv Peloton team for Pelotonia, aColumbus-based nonprofit that raises money forinnovative cancer research and treatments at
The Ohio State University Comprehensive Cancer
Center – Arthur G. James Cancer Hospital andRichard J. Solove ResearchInstitute, which
represents the Vertiv-donated $20,436 and the
additional $26,676 raised by 14 Vertiv riders.

~1,000 Lunches
Packed and delivered to the Loveland Food Bankby Vertiv employees.

In April, a group of Vertiv employees joined the Special Olympics Ohio soccer team for spring training, practicing andinteracting with the athletes, providing support for the team and a fun time for the Vertiv attendees. Vertiv also
supported the Special Olympic athletes with soccer bags to use during their travels to matches.
Vertiv, in partnership with the Columbus Crew, also hosted a June STEM Day for local Boys and Girls Club members,
inviting them to the stadium to learn how STEM education can be used in traditional and non-traditional STEM fields
and how it can be applied in fun ways every day. The event included a tour of the stadium, including the data centerand control booth, which are supported by our products. Information was shared on how our solutions ensure theticketing, scoreboard, lights and Wi-Fi work without interruption, so that all fans have a great experience at the game.
In September, Vertiv invited NC4K — a local nonprofit organization that supports kids fighting cancer so “No Kid
Fights Alone” — to join Vertiv at the stadium for a “Kick Childhood Cancer” event, allowing NC4K to share its
message of hope with thousands of community members before and during the match.

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Global Impact
Vertiv is proud to be a global citizen and support the communities where we live andwork across the globe.

Vertiv and the Ukraine Crisis
The conflict in Ukraine sparked a humanitarian crisis. Vertiv staff remained steadfast in ourcommitment to provide support throughout 2022. Specifically, the highly engaged local workforce
that neighbors the region committed to providing aid and supporting victims including refugees.
To date this has included some of the following key actions by Vertiv staff via countries including
Poland, Hungary, Slovakia, Romania, Czech Republic and Croatia.
•

Housing families and providing cross-border transfers and other transportation support.

•

Providing food supplies and donations through local non-governmental organizations (NGOs)(e.g., Caritas, Red Cross/Polish Food Bank and Polish Humanitarian Mission).

•

Volunteering in reception points, shelters, and train stations.

•

Providing language support through translation services.

Vertiv and its staff in the region continue to monitor the situation and are committed to providing
additional support as the crisis unfolds. Additionally, as a part of our commitment, Vertiv has
provided staff with paid leave to engage in direct support initiatives.

Adopt-A-Family Program

Approximately 50 Employees
Supported the renovation of a local children’s library in Lara Village, in partnership with World Vision Romania,
through fundraising initiatives. In addition, eight employees participated in the library renovation and furnitureassembly. This renovated library will support 178 children local to Lara Village, providing them with a space to learn
and discover new things.

Vertiv Summer School
Offered a three-day intensive virtual summer school for students ages 14-21 interested in STEM education.
This was an interactive experience, led by 22 Vertiv colleagues as instructors and guest speakers, which included
interviews, question sessions, live interactions with participants, and virtual tours of Vertiv facilities and offices.
The 80 student participants were distributed globally across 18 countries, including Morocco, Portugal, Spain,
Ghana, Nigeria, United Kingdom, Ireland, Italy, Croatia, Slovakia, Romania, Poland, South Africa, Turkey, Lebanon,
Kenya, UAE and Kazakhstan.

More than 1,700 Trees
Planted in 2022 in collaboration with Treedom, and distributed in nine countries across three continents thatwill help absorb over 600 tons of CO2. The trees were planted to underscore our commitment to environmental
sustainability and climate change mitigation, while supporting the local communities where trees were planted.
Each section of the Vertiv Forest is curated by Treedom to maximize the ecological, economic, and social benefit
the selected trees can generate in each community and ecosystem.

In the Philippines, Vertiv Manila employees adopted 50 families through the Adopt-A-Family
program of Project PEARLS, a non-profit and NGO that aims to help children and families inneed to have a better life. Through this program, employees’ donations resulted in the delivery
of food packs, personal protective supplies like face masks and hand sanitizers, and Christmas
gifts for children in the families.

Lending a Hand in Times of Need
Vertiv employees in North Asia volunteered at a local health center in Nanshan Park when
COVID-19 cases began to spike unexpectedly. Employees helped those taking COVID-19 tests
by supporting administration in the health center.

We plan to continue making a positive change in our communities within the impact areas we
supported this past year and beyond. One endeavor will likely include supporting the relief efforts
following the earthquake in Turkey and Syria.

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Vertiv relies on numerous supplier partners across the world for manufactured components,
processed metals, software, professional services, logistics support, and subcontracted
services. Vertiv expects its suppliers to align with our values and principles, stay current
with technology, act with integrity, and treat people and the environment with respect.
We partner with what we believe to be suppliers that demonstrate social responsibility and acommitment to fairness and honesty.

Supply Chain Management
Our suppliers vary by the nature of their business, size, location, type of workforce, and scope of their own upstream
supply chains. All suppliers are expected to adhere to the principles outlined in our Supplier Code of Conduct, which isbased on the Responsible Business Alliance (RBA) Code of Conduct Version 7.0 and features our expectations on thefollowing topics:
Human Rights and Labor – We expect suppliers to
uphold the highest standards of human rights and treat
employees with respect and dignity as recognized byinternational standards. This applies to all types of
employees including temporary, migrant, contract, student,
direct, and indirect employees. Key elements include theprohibition of forced or indentured labor, principles of legal
use of work of migrant workers, prohibition of child work,
regulation of working time, principles of fair wages andbenefits, guarantee of humane treatment,
non-discrimination, and freedom of association. Vertiv may
discontinue its relationship with a supplier that fails tocomply with such standards.
Health and Safety – We expect our suppliers to have ahealthy and safe working environment in accordance withall applicable laws and regulations and to protect
employees from immediate, and short- long-term harm.
Suppliers should recognize the importance of ongoingworker education and inputs in proactively identifying andsolving health and safety related issues in the workplace.
Key elements include occupational safety and injury/illness
prevention, emergency preparedness, industrial hygiene,
adherence to safe standards for physically demanding
work, machine safeguarding and maintenance, sanitation,
food and housing, and appropriate health and safety
communication to workers.

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ESG Report

Environment – Suppliers should operate their facilities in amanner that protects the environment and meets orexceeds applicable laws and regulations. Suppliers shall beaware of their environmental impacts and minimize
negative effects on the environment, community, andnatural resources within their manufacturing operations, aswell as safeguarding the health and safety of the public.
We further expect our suppliers to foster programs that
reduce energy consumption and waste in facilities, andfurther expect them to create innovative products andservices that improve energy efficiency and reduce
environmental impacts. Suppliers are expected tocooperate with upstream suppliers which proactively
administer environmentally friendly policies that include
goals of aiming to reduce negative environmental impacts.

Ethics – Vertiv seeks to do business in accordance withthe highest ethical standards and expects the same fromits suppliers. Therefore, suppliers are expected to uphold
ethical standards for behavior, anti-corruption, avoiding
conflict of interests, accurate recordkeeping, respect for
intellectual property, fair business, advertising andcompetition, responsible sourcing of minerals, andprotecting privacy. They are also expected to maintain
access to the Vertiv ethics hotline for supply chain workers
to use anonymously and without fear of retaliation.

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Conflict Minerals
Our Supplier Code of Conduct is approved by our Global Compliance Officer, Chief Procurement Officer and Chief LegalCounsel, among others. Pursuant to the Code, suppliers are expected to maintain a management system that
demonstrates adoption of the principles embodied within it. This includes an agreement to cooperate with Vertiv in any
requests for documentation, on-site audits, and associated action plans. Vertiv may discontinue its relationship with asupplier that fails to comply with the Supplier Code of Conduct.
We seek to elicit an understanding of the social and environmental conditions in our supplier’s operations at the start oftheir engagement with Vertiv.
Onboarding Suppliers – New direct, indirect, and services suppliers are expected
to complete a detailed online registration to provide their data accurately prior tobeing set up on any of Vertiv’s systems and affirm that they have reviewed andacknowledged the terms of Vertiv’s Supplier Code of Conduct and Vertiv’s Terms
and Conditions of Purchase. Prior to onboarding, production suppliers undergo a
Vertiv supplier audit, executed by a Vertiv supply chain expert, covering
compliance, quality, and key business practices.

Supplier Due Diligence – Vertiv conducts periodic surveys of our suppliers toascertain their level of risk for human rights abuses and environmental
noncompliance (e.g., REACH and RoHS in the European Union), as well as
unethical business practices concerning the mining and processing of conflictminerals and cobalt. Our Supplier Code of Conduct and General Terms andConditions of Purchase provide more detail on the standards by which we expect
our suppliers to adhere. Companies are selected to be part of our survey process
based on their strategic value to Vertiv and whether they operate in at-risk regionsof the world. For supplier risk assessments, Vertiv uses credible resources such as
Trafficking in Persons (TIP) Report issued by U.S. Securities and Exchange
Commission or Responsible Minerals Initiative smelter database. Vertiv is amember of the Responsible Minerals Initiative (RMI) and the Social Responsibility
Alliance, and for supplier surveying, we utilize standard reporting documents suchas the Slavery and Trafficking Risk Template, Conflict Minerals Reporting Templateand Extended Minerals Reporting Template issued by these organizations.

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Vertiv strives for responsible sourcing of 3TG metals — tin,tantalum, tungsten and gold — and expects the samefrom its suppliers. Vertiv designed its conflict minerals due
diligence measures to conform, in all material respects, tothe five-step framework described in the Organization for
Economic Co-operation and Development (OECD) Due
Diligence Guidance for Responsible Supply Chains ofMinerals from Conflict-Affected and High-Risk Areas, andthe related supplements for gold, tin, tantalum andtungsten (the “OECD Guidance”). Vertiv establishedcompany management systems, identified and assessedrisks in the supply chain, designed and implemented astrategy to respond to identified risks, leveraged an
independent third-party resource to support our supply
chain due diligence efforts, and reported on supply chain
due diligence via our Conflict Minerals Report. Via our
Conflict Minerals program in 2022, Vertiv determined that
3TGs were necessary to the functionality and productionof some of our products manufactured or contracted to be
manufactured and accordingly, conducted a Reasonable
Country of Origin Inquiry (RCOI) in good faith to determine
whether the 3TG mineralss may have originated in the
Democratic Republic of Congo (DRC) or adjoining
countries (“Covered Countries”). Based on the RCOI, Vertiv
believes that its products could contain 3TG minerals that

may have originated in the “Covered Countries.” Therefore,in accordance with the Dodd-Frank Wall Street Reformand Consumer Protection Act, Vertiv performs due
diligence on the source and chain of custody of the 3TG
minerals in question to determine whether products are“DRC conflict-free.”
Vertiv’s Conflict Minerals Policy summarizes our goal tounderstand whether, and to what extent, our products
contain conflict minerals with the objective of reducing therisk that such conflict minerals originate from the DRC
region as specified in the Dodd Frank Act. In order to fulfill
and respond to customer inquiries regarding the use of
conflict minerals in our products, Vertiv, either directly or
through use of a third-party administrator, requires our
suppliers to do the following: complete an annual survey
regarding the country of origin of any conflict minerals
contained in their products or components, exercise
proper due diligence to investigate the source of any
conflict minerals contained in their products orcomponents, and take decisive steps to confirm thatneeded conflict minerals do not originate from the DRC
region specified in the Act, and comply with the Vertiv
Supplier Code of Conduct.

Through the Vertiv Conflict Minerals Policy, we adhere to the following additional steps in order to confirm theresponsible sourcing of 3TG minerals:•

Upon request from customers, provide the then-current version of Vertiv’s Conflict Minerals Reporting Template(CMRT), as updated and maintained by Vertiv based on input from our suppliers.

•

In our General Terms and Conditions of Purchase, require its suppliers to source conflict minerals only fromconflict-free smelters and refiners.

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Vertiv analyzes its supply base on an annual basis and selects suppliers whose material may have contained 3TG metals
and cobalt in order to identify smelters and refiners in the supply chain. In 2022, our Compliance team conducted 3TG
and cobalt analysis of 95% of FY2021 direct spend, which resulted in the following findings and associated actions:•

30% of direct spend was identified as products with no 3TG and cobalt content. While 65% of direct spend was
identified as products which potentially contain 3TG metals, and therefore, 960 suppliers were asked to provide acomplete CMRT.

•We enhanced the smelter due diligence program in 2022 to focus on our top 100 suppliers, which were selectedbased on FY2021 spend data. Moving into 2023, our smelter due diligence program will be further enhanced withfocus aimed at the product level, engaging with suppliers from FY2022 who are not conformant or active according
to RMI or otherwise certified as conflict-free.

Vertiv, in cooperation with our third-party supply chain experts, organized a webinar focused on Vertiv’s regulatory
requests for ESG and material compliance. Part of this webinar was focused on supplier education about risks
connected to conflict minerals and Dodd Frank Act 1502 requirements, as well as Vertiv’s requirement for conflict-freesourcing. Vertiv participated in a multi-stakeholder initiative, which through collaborative efforts, seeks to encourage
more smelters or refiners to become audited and certified. This initiative includes smelter outreach to influence theoperational behavior of all smelters and refiners in the industry who process 3TG minerals, calling on them to adhere to
responsible sourcing practices.

Supplier Diversity
Vertiv is taking steps to establish a supplier diversity program as a means to enhance the resiliency of our supply chain
and the impact our supply spend can have on social and economic inclusion, all while maintaining the level of quality
upon which our brand is built.
We are developing a strategy and establishing baselines for our performance to inform potential metrics and goals to
include in future ESG reporting.

Human Rights
Vertiv respects the dignity and human rights of individuals and expects our suppliers and business partners to do thesame. We support and seek to adhere to the principles of both the United Nations Global Compact and Universal
Declaration of Human Rights. For detailed information, see our Human Rights Policy, which applies to Vertiv and ourdivisions, subsidiaries, branches, and operating units, as well as to all partnerships and joint ventures in which Vertiv has
management responsibilities. The Human Rights Policy sets forth requirements and prohibitions, as applicable, on thefollowing topics, among others:

54•

Forced, bonded, or indentured labor•

Equal opportunity•

Child labor•

Discrimination, harassment, and workplace violence•

Recruitment•

Retaliation

•

Wages

•

Environmental impacts•

Migrant workers•

Data privacy•

Documentation•

Worker housing

Supply Chain Integrity

GovernanceAppendix

ESG Report

Efforts to Combat Slaveryand Human Trafficking
Vertiv is a member of the Slavery and Trafficking Risk Template(STRT) Development Committee of the Social Responsibility
Alliance, a committee dedicated to the eradication of humantrafficking and modern slavery from supply chains around theglobe. In furtherance of this goal, we have incorporated theprinciples of the STRT into our human resources and supply chain
policies, procedures, and supporting standards.
Vertiv suppliers, based on General Terms and Conditions ofPurchase and principles described in Supplier Code of Conduct,
are expected to comply with all applicable laws and regulations
regarding human trafficking. Vertiv’s Supplier Code of Conduct
identifies the business ethics and human rights principles to which
all our suppliers worldwide are expected to adhere and incorporate
into their business operations, including prohibitions on engaging
in any form of forced labor or discrimination and includingemphasis on the importance of humane treatment and a healthyand safe working environment.
Vertiv evaluates, assesses, and verifies the risk of humantrafficking and slavery in our supply chain as part of our vendor
monitoring and review process, and our supplier verification
framework includes specific inquiries into human rights and antihuman trafficking efforts. Our Anti Human Trafficking and Slavery
program aims to prevent human trafficking and slavery in our
supply chain. Vertiv analyzes its supply base on an annual basis
and our direct and indirect spend is analyzed. Vertiv selects
suppliers which are perceived as suppliers with potential humanrights risks and requires these suppliers to provide a completed
STRT. After assessment, suppliers with potential outstanding risks
are required to update their policies or anti-human trafficking andslavery due diligence programs. In 2022, we analyzed our FY2021
supplier spend and we conducted additional due diligence withdirect and indirect suppliers.

All suppliers which submitted STRT in 2022 were
further assessed based on the Social
Responsibility Alliance scoring guide and weredivided into low-, medium-, and high-risk
categories with more specific subcategories
addressing any identified shortcomings forhigh-risk suppliers. No supplier was identified topose a high level of inherent risk for forced or
child labor or to have confirmed links to Xinjiang
labor. Each supplier that submitted the STRT
received tailored feedback with the request to
improve its anti-human trafficking and slavery
initiatives or to provide further clarifications andupdate inadequate policies and procedures basedon identified shortcomings. Upon request, they
were also expected to provide proof of
the improvement.
Vertiv provides its vendors with training resources,
webinars, and additional information aboutprinciples of human rights policy, as well as efforts
to combat human trafficking and slavery anddetails on Vertiv’s anti-human trafficking andslavery program. Vertiv reports on its due
diligence in this area within its Statement on
Efforts to Combat Slavery and Human Trafficking.

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Vertiv was founded on the principles of integrity and strong corporate governance. Our actions
are governed by policies, programs, and operating principles that align with our Core Principles.

Business Conduct

Governance

The Vertiv Code of Conduct underpins these high standards and governs our relationships with all our stakeholders,internally and externally. The Code of Conduct, published in 20 different languages, outlines the actions and behaviors
expected from every Vertiv employee and member of the Board of Directors.

We deliver Code of Conduct training and certification to all fulland part-time employees annually.
Employees have easy online access to instructions for reporting ethics concerns or suspected ethical, legal, accounting,or financial violations, which they can do anonymously and without fear of retaliation. Confidential treatment of reports isprovided to the extent possible. Reported ethics concerns are investigated by the appropriate department based on thenature of the concern (e.g., Human Resources for employment, discrimination, and sexual harassment; Legal/Compliancefor bribery, corruption, and export controls; Finance for accounting, auditing, and internal controls, and so on). Eachregional human resources vice president VP is responsible for maintaining the company’s ethics log for all reported
concerns within their region.
Vertiv’s Chief Legal Officer and Global Compliance Officer have oversight responsibility for the Code of Conduct andreport to the Audit Committee of the Board regarding the company’s performance on business ethics risks andperformance on a quarterly basis. The Board of Directors reviews the company’s ethics program and policies annually.
Our commitment to honesty and integrity extends to the way we structure our policies on political activities. Our Code of
Conduct prohibits the use of corporate funds for political contributions and describes the nature of our lobbying activities.
For further information on our efforts to uphold our ethical standards, please see Vertiv Anti-Corruption and Fair
Competition Programs.

“Conducting business with integrity and being respectfulof others are foundational to our Code of Conduct
because they are the right things to do. Requiring all of
our employees to act with honor, sincerity, and incompliance with the law, while expecting our partners to
do the same, establishes a relationship built on trust.
Simply put, it is good business.”– Stephanie Gill
Chief Legal Counsel

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GovernanceAppendix

Data Privacy and Security

ESG OversightAs a global company with operations in approximately 45 countries and customers in more than 130
countries, Vertiv employs a comprehensive approach to safeguarding the data and information of ouremployees, company and customers.

Responsibility for ESG performance starts at the top.

Data Privacy

ESG Report

Our Board is kept apprised of our ESG efforts and performance, especially as it pertains to risks and opportunities for thecompany. Our ESG Executive Steering Committee, made up of C-suite officers and other global leaders, helps shape andguide our ESG strategy, programs, policies and performance. This committee meets quarterly and engages with our
Board to share ESG information and progress.

ESG Executive Steering Committee

Vertiv has multiple systems in place to assist with compliance with applicable data
privacy laws in the jurisdictions in which we operate. Our Privacy Policy describes how
Vertiv and its subsidiaries and affiliates may collect, use, and share personal information
and what privacy choices are offered when using our services. Employees undergo
annual data privacy training. Data privacy champions are identified across our businessand given specialized training. Both our information technology (IT) and legal teams are
responsible for monitoring compliance with our Privacy Policy.

Cybersecurity
Vertiv uses a “defense-in-depth” approach to securing company and customer information.
This method uses layered mechanisms to protect systems and data, so that if one defense fails
there is another to prevent attacks and breaches. Our systems are aligned to NIST 800-171
and in certain regions, ISO 27001. Depending on their role in the company, employees andother network users undergo cybersecurity training as frequently as monthly, including“phishing” testing. All employees and many contractors and consultants are required tocomplete cybersecurity awareness training annually. Ultimate responsibility for our
cybersecurity function lies with our Chief Information Officer. At the Board level, theAudit Committee is formally tasked with assisting the full Board in overseeing dataand cybersecurity policies, procedures, and activities as specified in its charter.

Our Chief Legal Counsel leads our ESG Executive Steering Committee, which includes representation from thefollowing leaders:

Stephanie Gill
Chief Legal Counsel

Rainer Stiller
Chief Marketing Officer

Lynne Maxeiner
Vice President, Treasury andInvestor Relations

Stephen MacGuidwin
Global Compliance Officer

Matthew Wolfe
Vice President, GeneralCounsel – Global Corporate

Dan Rapp
Director, EHS

David Fallon
Chief Financial Officer

Sheryl Haislet
Chief Information Officer

Jessica McGinnis
Vice President, Global
Facilities and Security

Cheryl Lim
Chief Human Resources Officer

Scott Armul
Vice President, Global
Strategic Accounts

Product Security
Our defense-in-depth model also applies to the products and solutions we provide to ourcustomers. Both the interconnectivity of our products and the sensitive information
contained in the digital infrastructures they support make this a critical aspect of ourofferings. We work with our customers to implement security measures in the design andmanufacture of our products so that appropriate security standards are met, which may
include UL 2900-2-2 IOT and ISA/IEC 62443.
Our Security Incident Response Team (SIRT) reviews, validates, and remediates
vulnerabilities submitted to us. The objective of SIRT is to minimize security risk by
providing timely information and remediation of vulnerabilities in our network, web
properties, and products. This includes software, hardware, services and solutions.

58

In addition to executive oversight, our ESG Implementation Team, led by the Vice President, General Counsel – Global
Corporate, is a global, cross-functional group, representing virtually every aspect of our business. The Implementation
Team comprises more than 20 leaders and contributors across multiple workstreams with many more supporting
members that facilitate ESG actions across the business. The team is charged with making recommendations to the ESG
Executive Steering Committee, as well as implementing and operationalizing our ESG strategy.

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Our People

Our Neighbors

Supply Chain Integrity

GovernanceAppendix

ESG Report

Corporate Governance
As of January 1, 2023, our Board included eleven members and three standing committees:
Audit Committee, Compensation Committee, and Nominating and Corporate GovernanceCommittee. For a comprehensive overview of our Board’s corporate governance practices,
please refer to our Corporate Governance Guidelines.

Board Composition*
11

2.3 Years

63 Years

Directors

Average Tenure

Average Age

82%

100%

IndependenceStanding Committee Independence

About This Report
The Vertiv 2022 Environmental, Social and Governance (ESG) Report has been prepared withreference to the GRI Standards 2021, contains disclosures aligned to the Sustainability
Accounting Standards Board (SASB) Electrical & Electronic Equipment Standard 2018, andincludes disclosures pursuant to the recommendations of the Task Force on Climate-Related
Financial Disclosures (TCFD). Unless otherwise noted, quantitative data and ESG key performanceindicators are based on our most recent fiscal year, which ended on December 31, 2022, andincludes all entities contained in our consolidated financial statements. Some qualitative andquantitative information covers periods prior to and following our 2022 fiscal year.

*as of January 1, 2023

Corporate Governance Highlights
We currently separate the roles of Chairman of the Board and Chief
Executive Officer. This structure enables the Board to effectively
exercise its role in oversight of Vertiv while allowing our CEO to focus
on the management of the day-to-day conduct of our business.
While the roles of Chairman of the Board of Directors and Chief
Executive Officer are currently separated, the Board of Directors does
not have a policy on whether or not the role of Chairman and Chief
Executive Officer should be separate or combined, and if it is to be
separate, whether the Chairman should be selected from thenon-employee directors or be an executive officer. Instead of taking a“one-size-fits all” approach to Board leadership, the Board selects the
structure that it believes will provide the most effective leadershipand oversight for the company, taking into consideration thecompany’s needs and circumstances at any given time.

Other highlights include:•

Annual Full Board Elections/
Declassified Board•

No Poison Pill•

Robust Stock Ownership Guidelines
for Company Officers and Directors•

Prohibition of Hedging and Pledging

For more information on corporate
governance at Vertiv, please see our
website and our 2023 Proxy Statement.

In evaluating potential Board members, the Nominating andCorporate Governance Committee considers a wide array of factors
including experience, skills, expertise, diversity, personal andprofessional integrity, character, business judgment, time availability
considering other commitments, dedication, and conflicts of interest.

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GovernanceAppendix

ESG Report

Sustainability Accounting Standards Board (SASB) Index
Vertiv discloses financially material ESG information in line with the IFRS Foundation SASB standard for the Electrical &Electronic Equipment industry.

Appendix
62

SASB Code

Accounting Metric

Location or Description

RT-EE-130a.1(1) Total energy consumed(2) Percentage grid electricity(3) Percentage renewable

Currently undergoing processes to establish baselines for future tracking
and reporting.

RT-EE-150a.1

Amount of hazardous waste generated,
percentage recycled

Currently undergoing processes to establish baselines for future tracking
and reporting.

RT-EE-150a.2

Number and aggregated quantity ofreportable spills, quantity recovered

Zero reportable spills or ongoing remediation activities from priorreportable spills.

RT-EE-250a.1

Number of recalls issued, total
units recalled

Zero notable product recalls as of December 31, 2022, that would rise to thesignificance of inclusion in our annual 10-K. Any material, legal, and regulatory
issues are disclosed in our annual 10-K and quarterly 10-Qs.

RT-EE-250a.2

Total amount of monetary losses as aresult of legal proceedings associated withproduct safety

Zero notable monetary losses as a result of legal proceedings associated withproduct safety as of December 31, 2022, that would rise to the significance ofinclusion in our annual 10-K. Any material, legal and regulatory issues aredisclosed in our annual 10-K and quarterly 10-Qs.

RT-EE-410a.1

Percentage of products by revenue that
contain IEC 62474 declarable substances

Vertiv does not track products by revenue that contain IEC 62474 declarable
substances. Based on submitted supplier REACH and RoHS information, 40%of the impacted Vertiv products contain IEC 62474 declarable substances.

RT-EE-410a.2

Percentage of products, by revenue, thatmeet ENERGY STAR criteria

ENERGY STAR is only applicable to a small subset of Vertiv UPS products.

RT-EE-410a.3

Revenue from renewable energy-related
and energy efficiency-related products

Currently undergoing processes to establish baselines for future tracking
and reporting.

RT-EE-440a.1

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

See the Supply Chain Integrity section of this report, pgs. 51-55, for a
description of our policy approach and due diligence efforts related to supply
chain risk management, particularly as it relates to the responsible sourcing of
3TG minerals and overall ESG and human rights risk in our supply base.

RT-EE-510a.1

Description of policies and practices forprevention of: (1) corruption and briberyand (2) anti-competitive behavior

Please see the Business Conduct section of this report, along with our AntiCorruption and Fair Competition Programs, for an overview of our policies andpractices to prevent corruption, bribery, and competitive behavior.

RT-EE-510a.2

Total amount of monetary losses as aresult of legal proceedings associated withbribery or corruption

Zero notable monetary losses as a result of legal proceedings associated withbribery or corruption as of December 31, 2022, that would rise to thesignificance of inclusion in our annual 10-K. Any material, legal, and regulatory
issues are disclosed in our annual 10-K and quarterly 10-Qs.

RT-EE-510a.3

Total amount of monetary losses as aresult of legal proceedings associated with
anti-competitive behavior regulations

Zero notable monetary losses as a result of legal proceedings associated with
anticompetitive behavior regulations as of December 31, 2022, that would riseto the significance of inclusion in our annual 10-K. Any material, legal, andregulatory issues are disclosed in our annual 10-K and quarterly 10-Qs.

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Supply Chain Integrity

GovernanceAppendix

ESG Report

Task Force on Climate-Related Financial Disclosures (TCFD) Index
This is Vertiv’s inaugural disclosure aligned with the recommendations of the TCFD, and it evidences our intention to
integrate climate-related risks and opportunities into our routine business operations and decision-making. This
disclosure sets the foundation of our TCFD framework-aligned processes around risk management and strategy, and welook forward to strengthening this reporting year-over-year as we continue to deepen the connection of our corporate
strategy with the transition to a low-carbon economy.

Strategy

Governance64

TCFD Recommendation

Vertiv Disclosure

TCFD Recommendation

Vertiv Disclosure

Describe the Board’s oversight ofclimate-related risks and opportunities

Our Board is kept apprised of our ESG efforts and performance, especially as it pertains to risks
and opportunities for the company. As it relates to climate, the Board is primarily tasked withreviewing and guiding major plans of action.

Describe the Board’s
oversight of climate-relatedrisks and opportunities

In our consideration of climate-related risks and opportunities, we consider the following time horizons:•
Short-term – We generally define our short-term strategy on a year-over-year basis, from now to one
year out.

Describe management’s role inassessing and managing climate-relatedrisks and opportunities

Our Chief Legal Counsel leads our ESG Executive Steering Committee. This Committee iscomprised of leaders across functional areas of the business, including our Chief Financial Officer,
Chief Marketing Officer, Chief Information Officer, Vice President of Treasury and Investor
Relations, Vice President of Global Facilities and Security, Global Compliance Officer, Chief
Human Resources Officer, Vice President, General Counsel – Global Corporate, Vice President of
Global Strategic Accounts, and Director of EHS. This Committee helps shape and guide our ESG
strategy, programs, policies, and performance and through management, engages with our Board
to share information.
In addition to executive oversight, our ESG Implementation Team, led by the Vice President,
General Counsel – Global Corporate, is a global, cross-functional group, representing various
aspects of our business. The Implementation Team comprises more than 20 leaders andcontributors across multiple workstreams with many more supporting members that facilitate
ESG actions across the business. The team is charged with making recommendations to the ESG
Executive Steering Committee, as well as implementing and operationalizing our ESG strategy.

•

Medium-term – We generally define our medium-term strategy as 1-3 years.

•

Long-term – Anything beyond four years. Due to rapid technological innovation in our industry, we
tend to keep our focus within the short- and medium-term time frames. However, we do make longterm predictions that approach 10+ years.

As such, we consider the following climate-related risk and opportunity types:•
Current and emerging regulation – Climate is a dimension of the regulatory risks covered by Vertiv’s
enterprise risk management (ERM) process. We cover various legal risks in our 10-K, including thosefrom environmental compliance and regulations both current and emerging in the jurisdictions where
we operate.
•

Legal risks – Climate is a dimension of the legal risks covered by Vertiv’s ERM process. We covervarious legal risks in our 10-K, including those from legal compliance and the potential risks of legal
claims and proceedings filed against us related to EHS matters.

•

Technological risks and opportunities – Climate risk is considered as a lens to view our technology
and product. New technologies around energy efficiency, low-carbon materials and alternative fuelsources present some level of risk and opportunity for Vertiv.

•

Market risks – The markets we serve, in particular the data center and telecom industry, have manylarge players with aggressive environmental goals. As these potential customers set goals, they
influence the response of our market to set climate-related goals and take on initiatives to help theindustry reduce climate risk and transition to a low-carbon economy. This level of influence andVertiv’s ability or inability to meet demands for increasingly sustainable solutions presents a risk andopportunity for Vertiv.

•

Reputational risks – Reputation with customers, investors, and stakeholders is always on the line,
and with regard to climate, there is no exception. We are regularly engaged by customers andinvestors about our approach to managing our climate risks and opportunities, our performance
regarding emissions, and what strategies and targets we have set to reduce our impact. An inability torespond to these queries from stakeholders could damage our reputation, and our ability to respondpositively presents an opportunity to enhance our reputation.

•

Acute physical risks – We evaluate the potential risks that severe weather-related events, such as
flooding and natural disasters, pose to our operations and supply chain.

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Strategy

Supply Chain Integrity

GovernanceAppendix

ESG Report

Metrics and Targets

TCFD Recommendation

Vertiv Disclosure

TCFD Recommendation

Vertiv Disclosure

Describe the impact climaterelated risks and opportunities
have on the organization’s
businesses, strategy, andfinancial planning

As a result of the identified climate-related risks and opportunities, we have taken steps to integrate
climate-related factors into our business strategy and financial planning in the following ways:

Disclose the metrics used by theorganization to assess climaterelated risks and opportunities inline with its strategy and risk
management process

Vertiv is currently undergoing processes to establish baselines for measuring performance over timeand future reporting.

Disclose Scope 1, Scope 2, and if
appropriate, Scope 3 GHG
emissions and the related risks

We recently calculated key streams of our GHG emissions with a credible third-party resource toensure we have systems in place to measure our emissions with the highest possible degree of
accuracy. Vertiv is currently undergoing processes to establish baselines for measuring performanceover time and future reporting.

Describe the targets used by theorganization to manage climaterelated risks and opportunities
and performance against targets

We have internal targets that guide our management approach, but we are still in the evaluation phaseof formal target-setting. We are evaluating our baseline emissions to establish GHG reduction targets,
which we will disclose in future reporting.

Describe the resilience of theorganization’s strategy, taking into
consideration different climaterelated scenarios, including a 2
degrees Celcius or lower scenario•

Operations – We worked with a group of our manufacturing facilities to identify energy
reduction and carbon reduction capital opportunities. This resulted in many new capitalrequests, of which several were approved for execution. We plan for additional projects to be
implemented in 2023.

•

Products and services – Demand for sustainable solutions in our market fuel our strategy todevelop high-performing products and solutions that help customers reduce their environmental
impact through increased energy efficiency, quality that is highly reliable and durable, andcompatibility with renewable energy sources. Such priorities resulted in our investment in internal
resources to better position ourselves to meet these demands.

•

Investment in research and development – Interconnected with the discussion of products
and services we offer and their potential to support our customers’ climate-related objectives, weare committed to exploring, testing, and piloting new technologies that show promise to help
customers reduce their energy consumption and GHG emissions footprint. This focus has led toincreased awareness and resourcing toward energy-efficient and alternative energy technologies.

•

Supply chain engagement – As a means of ensuring our priority on climate flows to our fullvalue chain, we have adjusted the strategy of our supply chain compliance team to increase theirscope of work to include managing the climate impact of our supply chain. An example of action
on this front includes the geographic diversification of our supplier base for critical inputs tolessen or mitigate the impact of severe climate-related events on key supply chain operations.

We aim to mitigate our significant climate risks and address the climate-related opportunities that
apply to our market and the needs of our stakeholders as a part of our strategy. As these impacts andneeds may change, we strive to adapt our approach.

Risk Management

66

TCFD Recommendation

Vertiv Disclosure

Describe the organization’s
processes for identifying andassessing climate-related risks

To establish climate risks in our registry, as with other risk categories at Vertiv, interviews are
conducted with key stakeholders and leaders that may directly come in contact with and/or work to
mitigate the risk category in question. Inputs from the interview process are aggregated and thenreviewed with leadership to finalize and put forth the top enterprise risks for Vertiv.

Describe the organization’s
process for managing climaterelated risks
Describe how processes for
identifying, assessing, andmanaging climate-related risks
are integrated into theorganization’s overallrisk management

Climate-related risks are integrated into our multidisciplinary company-wide risk management
process. It is managed as its own risk category, among many risk categories, in Vertiv’s ERM process
and reviewed by applicable subject matter experts and key stakeholders to assess impact andstrategize and implement objectives to address the same.

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Supply Chain Integrity

GovernanceAppendix

ESG Report

Global Reporting Initiative (GRI) Reference Index
Statement of Use – Vertiv Holdings Co has reported the information cited in this GRI content index for the period
January 1, 2022, to December 31, 2022, with reference to the GRI Standards.
GRI 1 Used68

GRI 2:
GeneralDisclosures

2-18 Evaluation of the performance of thehighest governance body

Vertiv 2023 Proxy Statement section titled Board of Directors andCorporate Governance; subsection titled Board Committees.

2-19 Remuneration policies

Vertiv 2023 Proxy Statement sections on Director Compensation andExecutive Compensation.

2-20 Process to determine remuneration

Vertiv 2023 Proxy Statement section titled Compensation Discussion
and Analysis.

2-21 Annual total compensation ratio

Vertiv 2023 Proxy Statement sections titled Compensation Discussion
and Analysis and CEO Pay Ratio.

2-22 Statement on sustainable
development strategy

Please refer to the information on Our Approach to ESG within the
introductory section of this report, pgs. 10-11.

2-23 Policy commitments

Please refer to the following policies:

GRI 1: Foundation 2021

GRI Standard

Disclosure

Location

GRI 2:
GeneralDisclosures2021

2-1 Organizational details

Please refer to the About Vertiv section of this report, pgs. 6-9, for an
overview of our business and key activity metrics. For further
information, see also our 2022 10-K, Item 1 (Business).

2-2 Entities included in the organization’ssustainability reporting

Please refer to the About Vertiv section of this report, pg. 7, for an
overview of our business and key activity metrics. For further
information, see also our 2022 10-K, Item 1 (Business).

2-3 Reporting period, frequency andcontact point

This report covers the period January 1, 2022, to December 31, 2022, as
specified in the About This Report section of this report, pg. 61.

2-6 Activities, value chain and otherbusiness relationships

Vertiv 2022 10-K, Item 1 (Business)

2-7 Employees

Vertiv 2022 10-K, Item 1 (Business - Human Capital Resources)

2-8 Workers who are not employees

Vertiv 2022 10-K, Item 1 (Business - Human Capital Resources)

2-9 Governance structure and composition

Please refer to the information on Corporate Governance within the
Governance section of this report, pg. 60.
See also our 2023 Proxy Statement section titled Board of Directors andCorporate Governance.

2-10 Nomination and selection of thehighest governance body

Vertiv 2023 Proxy Statement section titled Board of Directors andCorporate Governance.

2-11 Chair of the highest governance body

Vertiv 2023 Proxy Statement section titled Board of Directors andCorporate Governance; subsection titled Board of Directors Leadership
Structure.

2-12 Role of the highest governance bodyin overseeing the management of impacts

Please refer to the information on ESG Oversight within the Governancesection of this report, pg. 59.

2-13 Delegation of responsibility for
managing impacts

Please refer to the information on ESG Oversight within the Governancesection of this report, pg. 59.

2-14 Role of the highest governance bodyin sustainability reporting

Please refer to the information on ESG Oversight within the Governancesection of this report, pg. 59.

2-15 Conflicts of interest

Vertiv 2023 Proxy Statement section titled Board of Directors andCorporate Governance.

2-16 Communication of critical concerns

Vertiv 2023 Proxy Statement section titled Board of Directors andCorporate Governance; subsection titled Communication With the Boardof Directors.

2-24 Embedding policy commitments•

Vertiv Code of Conduct•

Vertiv Environment, Health and Safety (EHS) Policy•

Vertiv Supplier Code of Conduct•

Vertiv Statement on Conflict Minerals•

Vertiv Human Rights Policy•

Vertiv Statement on Efforts to Prevent Slavery and
Human Trafficking•

Vertiv Privacy Policy

Please refer to related sections of this report where the oversight,
implementation, and outcomes of the aforementioned policies are
discussed:•
For the Vertiv Code of Conduct and the Vertiv Privacy Policy,
please refer to the associated information within the Governancesection of this report, pgs. 57-58.
•

For the Vertiv EHS Policy, please refer to the associatedinformation within the Responsible Operations section of thisreport, pgs. 23-31.

•

For the Vertiv Supplier Code of Conduct, Statement on Conflict
Minerals, Human Rights Policy, and Statement on Efforts toPrevent Slavery and Human Trafficking; please refer to theassociated information within the Supply Chain Integrity section ofthis report, pgs. 51-55.

2-25 Processes to remediate negative
impacts

Please refer to the information on Business Conduct within the
Governance section of this report, pg. 57.

2-26 Mechanisms for seeking advice andraising concerns

Please refer to the information on Business Conduct within the
Governance section of this report, pg. 57.

2-27 Compliance with laws and regulations

Please refer to the information on monetary losses within the SASB
Index of this report, pg. 63. Any material, legal and regulatory issues aredisclosed in our annual Form 10-K and quarterly 10-Qs.

2-28 Membership associations

Please refer to the Efficient Products and Systems section of this report,
pg. 19 for information on our industry partnerships for sustainability.
Please refer to the Supply Chain Integrity section of this report, pgs.
51-55, for information on the supply chain sustainability membershipassociations we participate in.

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GRI 1 Used

Responsible Operations

Our People

Our Neighbors

302-5 Reductions in energy
requirements of products and services

Please refer to the Efficient Products and Systems section of thisreport, pgs. 13-18. This is reported in the form of case studies and in
efficiency outcomes associated with our products.

GRI 303:
Water and Effluents2018

303-1 Interactions with water as ashared resource

Our business is not particularly water-intensive, and our water isdrawn primarily from municipal sources rather than directly from
freshwater sources. That said, our environmental management
systems have been developed in alignment with globally recognized
standards, such as ISO 14001.

GRI 305:
Emissions 2016305-7 Nitrogen oxides (NOx), sulfur
oxides (SOx), and other significant air
emissions

Please refer to the Responsible Operations section of this report, pg.
24.

GRI 308:
Supplier
Environmental
Assessment 2016308-1 New suppliers that werescreened using environmental criteria

Please refer to the Supply Chain Integrity section of this report, pgs.
51-55.

308-2 Negative environmental impacts
in the supply chain and actions taken

Please refer to the Supply Chain Integrity section of this report, pgs.
51-55.

GRI 401:
Employment 2016

401-2 Benefits provided to full-time
employees that are not provided totemporary or part-time employees

Please refer to the information on Competitive Benefits within the Our
People section of this report, pgs. 42-43.

401-3 Parental leave

Please refer to the information on Competitive Benefits within the Our
People section of this report, pg. 42.

GRI 3:
Material Topics
2021

3-1 Process to determine material topics

Please refer to the information on Materiality Determination within the
Our Approach to ESG section of this report, pg. 11.

3-2 List of material topics

Please refer to the information on Materiality Determination within the
Our Approach to ESG section of this report, pg. 11.

3-3 Management of material topics

Please refer to the contents of this report for a description on how wemanage material ESG topics.

GRI Topic Standards

GRI 206:
Anti-competitive
Behavior 201670

ESG Report

GRI 302:
Energy 2016

Location

GRI 205:
Anti-corruption 2016

Appendix

GRI Topic Standards

Disclosure

GRI 203:
Indirect Economic
Impacts 2016

Governance

GRI 1: Foundation 2021

GRI Standard

GRI 201:
Economic
Performance 2016

Supply Chain Integrity

201-1 Direct economic value generated
and distributed

Vertiv 2022 10-K, Item 7 (Management's Discussion and Analysis ofFinancial Condition and Results of Operation); Item 8 (Financial
Statements and Supplementary Data).

201-2 Financial implications and otherrisks and opportunities due to climatechangeFor information on the risks and opportunities associated with climatechange, please see our TCFD disclosure on pgs. 64-67 of this report.

201-3 Defined benefit plan obligations
and other retirement plans

Please refer to the information on Competitive Benefits in the Our
People section of this report, pgs. 42-43.
See also Vertiv 2022 10-K, Item 8 (Financial Statements andSupplementary Data, Notes to Consolidated Financial Statements,
Pension Plans).

203-1 Infrastructure investments andservices supported

Please refer to the information on Partnerships for Progress within the
Efficient Products and Systems section of this report, pg. 19.

203-2 Significant indirect economic
impacts

Please refer to the Efficient Products and Systems section of thisreport, pgs. 13-18.

205-1 Operations assessed for risks
related to corruption

Please refer to the information on Business Conduct within the
Governance section of this report, pg. 57.

205-2 Communication and training
about anti-corruption policies andprocedures

Please refer to the information on Business Conduct within the
Governance section of this report, pg. 57.

205-3 Confirmed incidents ofcorruption and actions taken

Please refer to the information on monetary losses within the SASB
Index of this report, pgs. 63. Any material, legal and regulatory issues
are disclosed in our annual Form 10-K and quarterly 10-Qs.

206-1 Legal actions for anti-competitive
behavior, anti-trust, and monopoly
practices

During calendar year 2022, Vertiv did not face any legal actions
regarding anti-competitive behavior, anti-trust, or monopoly practices.

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GRI Topic Standards
GRI 403:
Occupational Healthand Safety 201872

Supply Chain Integrity

GovernanceAppendix

ESG Report

GRI Topic Standards
403-1 Occupational health and safety
management system

Please refer to the information on Health, Safety and Wellness within
the Responsible Operations section of this report, pgs. 26-31.

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

Please refer to the information on Health, Safety and Wellness within
the Responsible Operations section of this report, pgs. 26-31.

403-3 Occupational health services

Please refer to the information on Health, Safety and Wellness within
the Responsible Operations section of this report, pgs. 26-31.

GRI 404:
Training and
Education 2016404-1 Average hours of training peryear per employee

Please refer to the information on Training and Development within
the Our People section of this report, pg. 40.

404-2 Programs for upgrading
employee skills and transition
assistance programs

Please refer to the information on Training and Development within
the Our People section of this report, pgs. 40-41.

404-3 Percentage of employees
receiving regular performance andcareer development reviews

Please refer to the information on Training and Development within
the Our People section of this report, pg. 41.

GRI 408:
Child Labor 2016408-1 Operations and suppliers at
significant risk for incidents of childlabor

Please refer to the information on Human Rights within the Supply
Chain Integrity section of this report, pgs. 54-55.

GRI 409:
Forced orCompulsory Labor
2016409-1 Operations and suppliers at
significant risk for incidents of forced orcompulsory labor

Please refer to the information on Human Rights within the Supply
Chain Integrity section of this report, pgs. 54-55.
See also Vertiv’s Human Rights Policy and Statement on Efforts to
Combat Slavery and Human Trafficking

GRI 414:
Supplier Social
Assessment 2016414-1 New suppliers that were screenedusing social criteria

Please refer to the Supply Chain Integrity section of this report, pgs.
51-55.

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

Please refer to the Supply Chain Integrity section of this report, ppgs.
51-55.

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

Please refer to the information on Health, Safety and Wellness within
the Responsible Operations section of this report, pgs. 26-31.

403-5 Worker training on occupational
health and safety

Please refer to the information on Health, Safety and Wellness within
the Responsible Operations section of this report, pgs. 26-31.

403-6 Promotion of worker health

Please refer to the information on Health, Safety and Wellness within
the Responsible Operations section of this report, pgs. 26-31.

403-7 Prevention and mitigation ofoccupational health and safety impacts
directly linked by business relationships

Please refer to the information on Health, Safety and Wellness within
the Responsible Operations section of this report, pgs. 26-31.

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

Please refer to the information on Health, Safety and Wellness within
the Responsible Operations section of this report, pgs. 26-31.

403-9 Work-related injuries

Please refer to the information on Health, Safety and Wellness within
the Responsible Operations section of this report, pgs. 26-31.

GRI 415:
Public Policy 2016415-1 Political contributions

Please refer to the information on Business Conduct within the
Governance section of this report, pg. 57.
See also Vertiv’s Code of Conduct.

403-10 Work-related ill health

Please refer to the information on Health, Safety and Wellness within
the Responsible Operations section of this report, pgs. 26-31.
Vertiv does not distinguish between work-related injuries and workrelated ill health.

GRI 416:
Customer Health and
Safety 2016416-1 Assessment of the health andsafety impacts of product and service
categories

Please refer to the information on Product Quality and Safety within
the Efficient Products and Systems section of this report, pg. 20.

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