Barnes : Annual Supplement

2023

Environmental,​ Social, and​ Governance

Annual Supplement

2023 Annual Supplement​

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2023 Letter From Our CEO​

We are proud to share our 2023 Environmental, Social, and Governance (ESG) Supplement Report. Since 2014, Barnes has published an annual ESG report to communicate our commitment to sustainability and social responsibility and to highlight our efforts and achievements with our stakeholders.​

2023 was a pivotal year for transformation and strategic growth. ​

We remain committed to unlocking Barnes' full potential by accelerating our Growth Vectors of Core Business Execution, Scale Barnes Aerospace, and Integrate, Consolidate & Rationalize Industrial. We continued to work together to drive enterprise value by delivering against Core Business Execution and generating Top Line, Bottom Line, and Pipeline growth in our businesses.

A substantial leap in our Scale Barnes Aerospace Growth Vector, our strategic acquisition of MB Aerospace added 10 locations to our global footprint. Furthering our Integrate, Consolidate, and Rationalize Industrial Growth Vector, Barnes also executed a number of significant business transformation initiatives, including closing and consolidating sales and operating locations across the globe. We expect to realize the benefits of many of these activities in 2024 and beyond. ​

While we are excited about Barnes' business transformation efforts, we remain firm in our commitments to global standards, such as the United Nations Global Compact's guiding principles, and provide transparency through our reporting according to relevant disclosures from the Global Reporting Initiative, the Sustainability Accounting Standards Board, and the Task Force for Climate-related Financial Disclosures.​

I would like to recognize our associates around the globe whose continuing commitment to Barnes drives our innovation and success. ​

Thomas J. Hook​

President and Chief Executive Officer

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2023 Barnes at a Glance​

Barnes Group Inc. leverages world-class manufacturing capabilities and market-leading engineering to develop advanced processes, automation solutions, and applied technologies for industries ranging from aerospace and medical & personal care to mobility and packaging. With a celebrated legacy of pioneering excellence, Barnes delivers exceptional value to customers through advanced manufacturing capabilities and cutting-edge industrial technologies. Barnes Aerospace specializes in the production and servicing of intricate fabricated and precision-machined components for both commercial and military turbine engines, nacelles, and airframes. Barnes Industrial excels in advancing the processing, control, and sustainability of engineered plastics and delivering innovative, custom-tailored solutions for industrial automation and metal forming applications. Established in 1857 and headquartered in Bristol, Connecticut, USA, the Company has manufacturing and support operations around the globe.​

$1.45B 6,500 >70

$ Annual Revenue

Employees

Countries Served

58%	55%
		16%
42%	29%
Total Sales	Geographic Region
	Industrial Segment - $843			Americas - $806
	Aerospace Segment - $608			Europe - $428
				Asia - $217

2023 Annual Supplement​

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Our Commitment to Environmental Sustainability

In line with driving Top Line, Bottom Line, and Pipeline growth through core business execution, we continue to reduce the energy and water we use in our factories and the amount of industrial waste we generate from our manufacturing processes. This information is captured in our centralized Health, Safety, and Environmental Affairs (HSE) information system.

In 2023, over fifty percent of the 2023 Scope 1 & Scope 2 and Water Usage data was independently verified using a third-party resource. The remainder was verified by Barnes Internal Audit.

Scope 1 & Scope 2 Greenhouse Gas Emissions*​

Energy ​ Usage

Year	2019	2020	2021	2022	2023*
GHG Emissions (MT CO2e)	56,760	48,680	48,880	47,080	45,300
Normalized GHG Emissions	39.6	43.5	38.8	37.3	33.9
(MT CO2e/M$ Sales)

Water Usage

Water Usage*

Year	2019	2020	2021	2022	2023*
Water (m3)​	520,800​	297,000​	302,700​	258,000​	261,600
M3 water/M$ Sales​	363​	265	240	204	196

Data Notations

*Estimated emissions for facilities > 20,000 ft2; GHG Emissions for 2019-2021 revised to properly reflect renewable energy; Excludes 2019 Seeger-Orbis divestiture and immaterial company vehicle fleet emissions.

**2023 reporting excludes MB Aerospace Scope 1 & Scope 2 Greenhouse Gas Emissions and Water Usage data.

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Our Commitment to Our People​

Health & Safety​

Barnes is committed to promoting and maintaining a safe workplace for our employees. We strive to ensure that all aspects of our operations are conducted in conformance with applicable laws and regulations, as well as our corporate policies. ​

Barnes had no fatalities in 2023.

Safety incidents are recorded in accordance with our corporate standards and calculated and normalized based on 200,000 hours worked.

Enforcement Actions

Regulatory Compliance Enforcement

2023	Occupational Safety	$13,550
2022	Electrical, Wastewater	$12,045
2021	None Reported	$0
2020	None Reported	$0
2019	Air Compliance	$4,918

2023 Annual Supplement​

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Our Commitment to Our People​

Diversity & Inclusion ​

At Barnes, we promote and embrace a diverse and inclusive workplace where everyone is treated with dignity and respect and employees are supported, encouraged, and empowered to engage, contribute, and achieve their fullest potential in a safe and rewarding environment.

U.S. Workforce Diversity​

To ensure compliance with the General Data Protection Regulation (GDPR) and other non-U.S. privacy laws, Barnes does not collect diversity data on its workforce outside the U.S.

26%	33%	44%
Self-Identify as an ethnicity​	U.S. based leadership is female​	U.S. Corporate leaders are female​
Other than White/Not Hispanic​

Recognition​
998	$380K	17
Employees recognized in 2023	Total 2023 BRAVO	Countries represented in the
through the Barnes BRAVO	program spend	Barnes BRAVO program​
program

Global Hybrid Flexible Work Arrangements​

All salaried employees are eligible for flexible/hybrid work arrangements. ​

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Our Commitment to Our Communities

At Barnes, we believe that being a good corporate citizen begins with being a great community leader. This is why we encourage philanthropy, compassion, and change through our Barnes Group Foundation. The Barnes Group Foundation is committed to supporting education, the arts, civic, and youth activities, and health-related charities in the communities in which Barnes operates. ​

2023 Community Giving​

$341,00 $74,250 $121,171

Student Scholarship Program​

Matching Gifts Program​

United Way Campaign​

Barnes Group Foundation Scholarship Program ​

The Barnes Group Foundation has administered a Scholarship Program for its global employee workforce since 1976. Since then, we have provided over $9.5 Million in scholarships, serving over 1,000 students.

Other Charitable Support​

Our global workforce is empowered to identify and support local organizations in the communities in which they live and work. Across the globe, our facilities have supported local non-profit organizations through monetary donations, volunteer hours, food drives, clothing drives, and toy drives. ​

2023 Annual Supplement​

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Our Commitment to Governance and Accountability​

Our Board of Directors​

At Barnes, our Board of Directors exercises governance over ESG through the Audit, Compensation, and Corporate Governance Committees. Our Board is ethnically and racially diverse, and four of our directors, or one-third, are women. Women hold key leadership roles on our Board. For example, our Lead Independent Director, who also chairs our Corporate Governance Committee, is female, as is the Chair of our Compensation and Management Development Committee.

Demographics

Racial/Ethnic	Gender Diversity	Tenure
Diversity

3	3		4
	7	7	6

Other

Diverse

Male

Female

0-5 Yrs

6-9 Yrs

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