Flowserve : 2021 ESG Report

2021 ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT

DIVERSIFICATION | DECARBONIZATION | DIGITIZATION

A NEW ERA FOR GROWTH

TABLE OF CONTENTS

Our purpose is what drives us to invest in and develop our ESG principles and priorities at Flowserve because we recognize that positively impacting current and future environmental, social and governance issues is an endeavor that benefits everyone.

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Leadership Message

About Flowserve

1. Our Purpose

1. Our Values

1. Our Behaviors

ESG in 3D

1. ESG Materiality

1. Our ESG Approach

1. United Nations Sustainable Development Goal Alignment

Governance and Risk Management

1. Board of Directors
2. Committees & Oversights

1. Integrity & Compliance

1. Supply Chain

1. Cybersecurity

Focusing On People

1. Our Culture
2. Human Rights
3. Diversity, Equity & Inclusion

1. Total Rewards & Wellbeing

1. Talent Development

1. Community Engagement

70 Energy Transition and Our Path Forward 74 Product Innovation

86 Sustainable Processes

90 Operational Excellence 90 TargetZero 94 Safety

98 Quality

104 Environmental Protection 104 Energy Use

105 Air Emissions

107 Freshwater Use

110 Waste Generation & Recycling

114 Product Lifecycle

121 Data Summary and Reporting Indices

The goals, targets and projects described in this report are aspirational and forward-looking. As such, results may vary significantly and no guarantees are made that the goals and targets will be met or that projects will be successfully executed. See "About This Report" on Page 143.

LEADERSHIP MESSAGE | ABOUT FLOWSERVE | ESG IN 3D | GOVERNANCE AND RISK MANAGEMENT | FOCUSING ON PEOPLE | ENERGY TRANSITION AND OUR PATH FORWARD | OPERATIONAL EXCELLENCE | ENVIRONMENTAL PROTECTION | DATA SUMMARY AND REPORTING INDICES

LEADERSHIP MESSAGE

With a legacy dating back more than 230 years, Flowserve manufactures and services fluid motion control solutions for the world's toughest, most critical applications. Our customers depend on our diverse product lines, engineering expertise and vast service network to help solve their flow- control challenges. We're committed to more than just delivering innovative technologies and superior service - we are inspired by our purpose to make the world better for everyone.

Our purpose is what drives us to invest in and develop our ESG principles and priorities at Flowserve because we recognize that positively impacting current and future environmental, social and governance issues is an endeavor that benefits everyone. Whether it's creating safer workplaces for our employees, promoting diverse leadership and development of our people, supporting our communities through Flowserve Cares or deploying sustainable solutions to address climate change, our commitment to ESG continues to inform our strategy.

We have centered our strategy around the 3Ds: Diversifying, Decarbonizing and Digitizing our offerings and our operations. To do this, we are committed to focusing our technology and product development efforts on new and attractive market growth opportunities while supporting our existing customers' efficiency and decarbonization efforts.

We believe this strategy will not only enhance our ESG efforts but will also allow Flowserve to play a critical role in supporting our customers to build a better tomorrow.

Our global business continued to navigate unprecedented challenges in 2021 with supply chain disruptions, a dynamic labor market and the lingering effects of the COVID-19 pandemic. Thanks to the collective energy of our people, I am proud to share the following highlights from 2021:

• Delivered strong safety performance with marked improvement in safety maturity growth through TargetZero
• Continued progress to achieve our 2030 carbon emissions reduction goal
• Booked more than $100M in energy transition projects to help our customers improve their energy efficiency and reduce operations emissions, minimize lifecycle equipment costs, reduce maintenance requirements and simplify equipment operation
• Recognized by Forbes magazine as one of the World's Top Female Friendly Companies
• Awarded by Newsweek magazine as one of America's Most Responsible Companies for the third consecutive year

• Earned recognition for our sustainability performance with Chemours Supplier Award and improved EcoVadis rating
• Supported 150 charitable organizations through Flowserve Cares to invest in the health and betterment of our global communities

We are looking forward to delivering on the following key priorities in 2022 and beyond:

• Bolster our ESG strategy with enhanced initiatives to accelerate product development and innovation, reduce environmental impact, enhance product safety and support employee development
• Continue to provide exceptional customer experience through our 3D strategic drivers
  o Diversification - expanding our market reach in areas like water, specialty chemical and other general industries, and in the reach of existing products like our vacuum pumps and seals offering
  o Decarbonization - leveraging our new Energy Advantage program, we'll help new and existing customers as they work to lower their carbon emissions and reduce environmental impact of their operations

• 1. Digitization - growing our RedRaven solution and pipeline to deliver flow-control solutions of the future
• Invest in our operations to increase efficiency and decrease our carbon footprint to meet our carbon emissions reduction goal by 2030

We are proud to share our ESG progress in this year's report and would like to thank our customers, suppliers and other stakeholders for their continued partnership in making the world better for generations to come.

R. Scott Rowe

President and CEO

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D I V E R S I F Y | D E C A R B O N I Z E | D I G I T I Z E

D I V E R S I F Y | D E C A R B O N I Z E | D I G I T I Z E

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LEADERSHIP MESSAGE | ABOUTFLOWSERVE| |ESGESGININ3D3D| |GOVERNANCEANDANDRISKMANAGEMENT| |FOCUSINGONONPEOPLE| |ENERGYTRANSITIONANDANDOUROURPATHFORWARD| |OPERATIONALEXCELLENCEENCE | |ENVIRONMENTALPROTECTION| |DATASUMMMARYANDANDREPORTINGINDICES

ABOUT FLOWSERVE

COMPANY OVERVIEW

Flowserve is a world leading manufacturer and aftermarket service provider of comprehensive flow control systems. Driven by our purpose, we are committed to building a more sustainable future to make the world better for everyone.

With a global team of more than 15,000 associates,

Associates:

Flowserve works to support global infrastructure industries,

including oil and gas, chemicals, power generation, water

15,000+

management, carbon capture and general industry,

leveraging an extensive portfolio of pumps, valves, seals,

automation and aftermarket and engineering services.

Countries:

With operations in over 50 countries around the world,

50+

we are able to provide our customers with world-class

customer service through localized support.

Our 209 facilities include manufacturing sites and Quick

Facilities:

Response Centers (QRCs) around the world that not only

manufacture our products safely and with the highest

209

quality, but also offer our customers a broad array of

aftermarket services, including installation, advanced

diagnostics, repair and retrofitting.

Customers:

10,000+

Sales/Operating

Income:

$3.5B/

$270.8M

We support more than 10,000 customers worldwide, including some of the world's leading engineering, procurement and construction firms (EPCs), original equipment manufacturers, distributors and end users.

In 2021, we delivered $3.5B in sales and $270.8M in operating income.

World Headquarters

Sales Offices

Service Centers and Quick Response Centers

Manufacturing Plants and Regional Operations Centers

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D I V E R S I F Y | D E C A R B O N I Z E | D I G I T I Z E

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LEADERSHIP MESSAGE | ABOUTFLOWSERVE| |ESGESGININ3D3D| |GOVERNANCEANDANDRISKMANAGEMENT| |FOCUSINGONONPEOPLE| |ENERGYTRANSITIONANDANDOUROURPATHFORWARD| |OPERATIONALEXCELLENCEENCE | |ENVIRONMENTALPROTECTION| |DATASUMMMARYANDANDREPORTINGINDICES

From providing fresh drinking water to reducing carbon emissions, our products and services are making a difference around the world.

OUR PURPOSE

WHY WE ARE HERE

At Flowserve, we come to work each day to deliver on a purpose that is bigger than ourselves.

Together, we are driven by our purpose to create extraordinary flow control solutions to make the world better for everyone - for our customers, our associates, our shareholders and our communities.

From providing fresh drinking water and controlling flood waters to reducing carbon emissions and increasing energy efficiency, we are more than just a flow control company. Our products and services are making a difference both locally and globally and truly making the world better for everyone.

TOGETHER, WE CREATE

EXTRAORDINARY

FLOW CONTROL SOLUTIONS

TO MAKE THE

WORLD BETTER FOR EVERYONE

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D I V E R S I F Y | D E C A R B O N I Z E | D I G I T I Z E

D I V E R S I F Y | D E C A R B O N I Z E | D I G I T I Z E

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