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Modern Slavery Report (2023)
1Introduction

For Stanley Black & Decker, Inc. and its subsidiaries (together, “SBD”), human rights are non-negotiable. We arecommitted to respect and support human rights in accordance with international standards and guidelines, such as
the Guiding Principles for Business and Human Rights and the Universal Declaration of Human Rights. We strive towork ever more closely with our suppliers to ensure their workforce and the workforce of their supply chains aretreated with respect and dignity. At the heart of our mission lies a commitment to fostering inclusive workplaces andsourcing products responsibly.
This report is made jointly by Stanley Black & Decker Canada Holdings ULC, Stanley Black & Decker Canada Corp,Mac Tools Canada Inc., Nelson Stud Welding Canada Inc., 2315708 Ontario Inc., and MTD Products Limited(collectively, the “Reporting Entities”) pursuant to Canada’s Fighting Against Forced Labour and Child Labour in
Supply Chains Act (the “Act”) for the financial year commencing on January 1, 2023 and ending on December 31, 2023
(the “Reporting Period”).

2Our Organisational Structure

SBD is a global provider of hand tools, power tools, outdoor products and related accessories, as well as a leading
provider of engineered fastening solutions. The ultimate parent of the SBD group is Stanley Black & Decker, Inc., apublic company traded on the New York Stock Exchange as “SWK”. SBD has over 50,000 employees and 7,000
temporary contractors in 59 countries. Approximately 69% of SBD’s employees are paid by the hour, working
principally in manufacturing and distribution centres, and the remaining 31% are salaried.
As of the end of the filing period, Stanley Black & Decker, Inc. owned 365 direct and indirect subsidiaries, including
the Reporting Entities.
Stanley Black & Decker Canada Corp and Mac Tools Canada Inc. are subsidiaries of Stanley Black & Decker CanadaHoldings ULC.

3Our Business Operations

As of December 30, 2023, SBD owned or leased facilities used for manufacturing, distribution and sales offices in 22countries. Approximately 62% of SBD’s 2023 revenues were generated in the United States, with the remainder
generated largely from Europe (16%), emerging markets (12%) and Canada (5%). The Reporting Entities’ activities
include the production, sale, distribution and import of goods into and out of Canada.
SBD’s operations are classified into two business segments: Tools & Outdoor and Industrial.
The Tools & Outdoor segment is comprised of the Power Tools Group , Hand Tools, Accessories & Storage , andOutdoor Power Equipment product lines. The segment is a worldwide leader in the tools and outdoor markets andcarries iconic brands in the industry, including DEWALT®, CRAFTSMAN®, STANLEY®, BLACK+DECKER® and CUB
CADET®. The segment sells its products to professional end users, distributors, independent dealers, retailconsumers and industrial customers in a wide variety of industries and geographies.
The Industrial segment is comprised of the Engineered Fastening and Infrastructure businesses. The Engineered
Fastening business is a global leader of highly engineered, application-based solutions such as fasteners and fittings.
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The Infrastructure business designs, manufactures, and sells attachments, typically used on excavators, andhandheld hydraulic and battery-powered tools for applications in infrastructure, construction, scrap recycling,demolition, and railroad infrastructure.

4Our Supply Chains

SBD’s products are manufactured using both ferrous and non-ferrous metals including steel, zinc, copper, brass,aluminum, and nickel. Additionally, SBD uses other commodity-based materials for components and packaging
including plastics, resins, wood and corrugated products.
SBD also purchases components such as batteries, motors, engines, transmissions, and electronic components to
use in manufacturing and assembly operations along with resin-based moulded parts.
The raw materials required by SBD are procured globally from multiple sources.

5Our Risk Profile

Within Our BusinessAlthough SBD operates in the manufacturing sector, we believe that the risks of forced labour or child labour occurring
within our own business operations are low. Employee well-being is of utmost importance to SBD. In 2023, weembarked on a long-term vision to develop a global well-being strategy dedicated to supporting employee well-being.
The implementation of the strategy will vary by country, but will include benefits to support the broad wellness ofemployees’ healthy lifestyles, mental health, and retirement readiness, which will be bolstered by programs tosupport a healthy, psychologically safe culture at work. SBD also supports its employees and promotes work/lifebalance through benefits such as paid parental leave, paid time off, flexible work arrangements and virtual/hybrid
working model policies.
Throughout Our Supply Chain
We recognise that risks of modern slavery may be present in our supply chain. We have namely identified the following
risk factors:•Country risk: Some of our manufacturing facilities and some of the suppliers we source from are located incountries that have an increased risk of modern slavery.

•Industry risk: Manufacturing is recognized as a high-risk sector.

•Sector risk: We are aware of parts of our supply chain where subcontracted labour is used.

•Product risk: We source raw materials such as steel and aluminum which present a higher risk of modernslavery.

6

Our Policies

Code of Business Ethics
Our Code of Business Ethics reinforces the values and principles of SBD and guides how we conduct business. It
states SBD’s commitment to respecting, protecting and supporting the principles included in the Universal
Declaration of Human Rights, the ILO Declaration on Fundamental Principles and the Rights at Work. It encourages
every person who sees or hears of any abuse of human rights, including forced or child labour, to speak up.

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All of our directors, executive officers and employees must know, understand and follow the Code of Business Ethics,
with no exceptions. The Code of Business Ethics is available in 31 languages for our global employee base.
Human Rights Policy Statement
SBD embraces its responsibility as a global industrial leader to respect the human rights of SBD employees,
contractors and agents and to promote best practices to all relevant stakeholders within SBD’s sphere of influence.
Our Human Rights Policy Statement sets the framework for embedding the respect of human rights into our workplace
and labour practices.
Supplier Code of Conduct
Our Supplier Code of Conduct sets forth our commitment to engage in business relationships with partners who share
our values. It expressly prohibits SBD’s suppliers from using forced labour, prison labour, child labour or any form ofphysical or mental punishment. It also requires suppliers to embrace and implement specific standards on equal
opportunity hiring, freedom of association, fair wages, working hours, and workplace safety. The Supplier Code of
Conduct is included in our Supplier Handbook, a copy of which is sent to our suppliers.
Supplier Handbook
In addition to the Supplier Code of Conduct and various guidelines on new supplier selection and quality control
processes, the Supplier Handbook also contains comprehensive guidelines on SBD’s audit procedure. Our Global
Supply Management organization audits our suppliers to review their corporate social responsibility performanceagainst the requirements of our Supplier Handbook, including use of child labour, compensation, working conditions,forced and prison labour, and basic worker/human rights. Their performance is graded on a traffic light basis so we
can see where we need to focus any resource to help improve performance.

7Our Due Diligence Processes

As part of our initiative to identify modern slavery and mitigate associated risks in our business and supply chain, wehave adopted the following due diligence procedures.
Supplier Adherence To Our Values
As partners in our sustainability journey, we actively work with our suppliers to elevate our shared social andenvironmental performance. We support our suppliers in their pursuit of continuous improvement and operational
excellence, while expecting them to meet the highest standards of quality, ethics and sustainability as outlined in ourSupplier Code of Conduct. That is why we require our suppliers to acknowledge and comply with our Supplier Codeof Conduct, legal obligations and industry standards and to establish a sustainable procurement policy regarding
their suppliers’ operational practice and supply chain.
Supplier Compliance
SBD is actively engaged with suppliers to ensure they remain in full compliance with our Supplier Code of Conduct.
As part of our process to validate compliance, we screen new and existing suppliers with internal resources, as wellas through independent auditing organizations such as Intertek, SGS and TUV, among other accredited organizations.
In addition, we use self-assessments and, for certain industries or countries with higher levels of perceived humanrights abuses, we conduct in-person audits. Re-auditing is cadenced based on the supplier’s audit results. If we doidentify concerns through this process, we work with the supplier to assess impact and determine appropriate next
steps. Depending on the facts specific to the supplier’s conduct, we may stop orders as we investigate and may
ultimately terminate the relationship as appropriate.

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We have leveraged third party standards, including the SA8000 certification, in certain facilities to guide our program
development. SA8000 certification is the principal social certification standard which incorporates several tenets of
the United Nations Universal Declaration of Human Rights and International Labor Organization (ILO) convention.
Our Global Ethics & Compliance Program
SBD believes that an unwavering commitment to ethics and compliance is a non-negotiable corporate value. Ourobjective is to strengthen and maintain a world-class culture of ethics and compliance with every employee, in everylocation, every day. A world-class culture of integrity does not just happen—it requires continuous reflection, focusand improvement. To that end, SBD has included measurable, enterprise-wide compliance objectives as part of ourcompany-wide goals for 2023.
SBD also has a dedicated compliance team:•The Chief Compliance Officer leads SBD’s global ethics and compliance program.

•The Global Ombudsperson leads SBD’s processes to encourage employee reporting.

•Two enterprise compliance committees promote timely escalation of compliance risks and program
oversight for executive management and other program stakeholders.

Integrity Helpline
We offer a 24/7 confidential Integrity Helpline staffed and managed by an independent third party, Convercent. This
comprehensive reporting tool allows employees and our compliance team to work together to address any concern,
including forced labour, child labour or any behaviour that does not align to our values or that may be against the law
or Company policy. Employees are encouraged to raise any concerns, without fear of retaliation or retribution.
Our strategic communication approach has increased awareness of our Integrity Helpline and has helped educate
our employees that this resource is available for all types of concerns. Communication elements include posters,
digital boards and Helpline FAQ—all are available in 31 languages. A QR Code makes it easy for employees to accessthe Helpline.
Integrity Insights
A key communication channel for our global employee audience is Workplace, which includes a dedicated channel
to focus and highlight “Integrity @ SBD.” This includes Integrity Insights, which uses real and hypothetical examplesof employee actions—both when something goes right and when there are missteps—to talk in an authentic way
about integrity and what it means to do the right thing. Many examples come directly from our Integrity Helpline.

8Our Training

We offer e-learning on the Code of Business Ethics for our global employees in appropriate languages. All new hires
meeting our salaried/online criteria, including employees of newly acquired businesses, are expected to complete
this course within 60 days of hire. This course contains a modern slavery awareness component.

9Our Remediation Measures

We diligently monitor our supply chain partners for alignment with our values and compliance with our policies. Where
exploitative practices, such as forced labour or child labour, are discovered, we are equipped to take action (asdescribed in our Supplier Handbook) and promptly implement all appropriate remediation measures.

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10Our EffectivenessMeasurable, enterprise-wide compliance objectives were included as a component of SBD’s goals for 2023. During
the Reporting Period, we completed social accountability evaluations for certain suppliers chosen according to riskbased criteria, such as country, industry, sector, and product. In total, 150 suppliers had on-site evaluations,consistent with the previous year.
As we continue our efforts to prevent and mitigate modern slavery risks in our operations and supply chains, we willreview and refine our processes as needed so as to appropriately assess the effectiveness of our actions.

11Approval

This statement was approved on the date written below by the Board of Directors of Stanley Black & Decker CanadaHoldings ULC pursuant to subparagraph 11(4)(b)(i), and the Boards of Directors of MTD Products Limited, 2315708
Ontario Inc., and Nelson Stud Welding Canada Inc. pursuant to subparagraph 11(4)(b)(ii) of the Act.
In accordance with the requirements of the Act, and in particular section 11 thereof, I attest that I have reviewed theinformation contained in the report for the entity or entities listed above. Based on my knowledge, and having
exercised reasonable diligence, I attest that the information in the report is true, accurate and complete in all materialrespects for the purposes of the Act, for the reporting year listed above.

STANLEY BLACK & DECKER CANADA HOLDINGS ULCNELSON STUD WELDING CANADA INC.

By:_________________________
Name: Donald J. Riccitelli
Director
Date: May 28, 2024

By:_________________________
Name: Donald J. Riccitelli
Director
Date: May 28, 2024

I have the authority to bind Stanley Black & Decker
Canada Holdings ULC

I have the authority to bind Nelson Stud Welding
Canada Inc.

MTD PRODUCTS LIMITED

2315708 ONTARIO INC.

By:_________________________
Name: Donald J. Riccitelli
Director
Date: May 28, 2024

By:_________________________
Name: Robin Weyand
Director
Date: May 28, 2024

I have the authority to bind MTD Products Limited

I have the authority to bind 2315708 Ontario Inc.

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