Reliance Worldwide : Social Impact Report 2021

For personal use only

ASX Announcement

22 March 2022

Social Impact Report 2021

Reliance Worldwide Corporation Limited (ASX: RWC) has today released its Social Impact Report 2021. A copy is attached.

For enquiries, please contact:

Phil King

Group Investor Relations Director [phone]

[e-mail]

This announcement has been authorised for release by the Company Secretary.

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r personal use only

> 1.0 Executive Summary

> 2.0 Our Planet

> 3.0 Operational Excellence

> 4.0 Our Team

> 5.0 Our Community

> 6.0 Governance

> 7.0 Appendix

Reliance Worldwide Corporation

Social Impact Report 2021

> 1.0 Executive Summary

> 2.0 Our Planet

> 3.0 Operational Excellence

> 4.0 Our Team

> 5.0 Our Community

> 6.0 Governance

> 7.0 Appendix

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Our journey

onlyIn 1936, our founder Henry George Fredline began tinkering with and re-engineering a pressure-reducing valve in the boiler room of

a Brisbane factory. From that moment, the innate culture of ingenuity, raw ambition, and sheer determination set RWC on a path of success, only made possible by an alliance of minds rich

usein diverse ideas and experiences. It is in this spirit that we continue to build our data-driven

ocial impact for the next generation. Thinking beyond our products

Our products are known for disrupting the industry in positive, impactful ways.

personalWe have always focused on developing products that make life easier, more efficient, nd safer for trade professionals. This commitment to the health and safety of our

customers is naturally evolving to incorporate more specific strategies for protecting a d preserving our planet in a time of considerable concern for our climate.

The report references the Global Reporting Initiative (GRI) Standards 2016 and Task Force on Climate Related Financial Disclosures (TCFD), as detailed in the GRI Index and TCFD Index on pages 19-21. If you have any questions or feedback regarding this report or its content, please contact: [e-mail].

Note: Our third RWC Social Impact Report focuses on our performance from 1 July 2020 to 30 June 2021.

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Contents

1.0 Executive Summary	3
2.0 Our Planet		8
3.0 Operational Excellence	11
4.0 Our Team	13
5.0 Our Community	16
6.0 Governance	17
7.0 Appendix	19

RWC Dandenong

Melbourne, Australia

> 1.0 Executive Summary

> 2.0 Our Planet

> 3.0 Operational Excellence

> 4.0 Our Team

> 5.0 Our Community

> 6.0 Governance

> 7.0 Appendix

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Dear Stakeholders,

We are pleased to present our third annual Social Impact onlyReport. Authenticity and transparency are of utmost importance

as we integrate our sustainability journey into our core business strategies at RWC. This year, we began laying the critical groundwork by establishing our baseline for Scope 1 and Scope 2 greenhouse gas (GHG) emissions.

useDuring Fiscal Year 2021 (FY2021), our organisation has displayed remarkable resilience in the face of persistent social, economic, and global health challenges. The RWC approach has always been to work together as

a team to identify positive opportunities for disruption and growth in our industry.

Driving sustainability through business strategy

At the heart of our evolving strategy is making our customers' lives easier through socially responsible growth and development. Our business strategies are being refined to take account of our baseline emissions data. The data we've collected thus far will be used to develop clear sustainability goals that will inform future

business decisions. We will ensure full transparency in this process and provide auditable data supporting personaleach step we take.

From new product development, to responsible supplier partnerships, to lean manufacturing and GHG reduction ambitions, we are committed to setting a clear roadmap for positive change. The acquisition of LCL is a recent example of our commitment to leveraging our manufacturing capabilities more efficiently and with scalable sustainability practices in mind. LCL is one of Australia's largest producers of high-quality copper- based alloys. We are tremendously proud that every kilogram of copper we process is from recycled material.

Regional execution

Our regional leaders are well engaged with business-led Environmental, Social, and Governance (ESG) initiatives, as their collective resources and energy ultimately will deliver on our tangible sustainability goals. At the Group-level, we are facilitating operational alignment on ESG messaging and targets to ensure our

r gions are supported with clear plans and measurable action items. Our executives and senior managers have a portion of their Short-Term Incentives (STI) connected to ESG and related cultural and social personal objectives.

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"While we continue to evolve, scale, and strengthen our global presence,

we are making strides to lay the groundwork for responsible investments in our company's future."

Heath Sharp

Group Chief Executive Officer

> 1.0 Executive Summary

> 2.0 Our Planet

> 3.0 Operational Excellence

> 4.0 Our Team

> 5.0 Our Community

> 6.0 Governance

> 7.0 Appendix

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Environmental

onlyBuilding our data-driven targets

It is important to highlight our pivot towards analysis and target setting. This year, we collected critical regional baseline data through our partnership with Schneider Electric. This creates a necessary bridge to future social impact reporting to including clear, tangible targets and how RWC will achieve them along the way.

As we move into our next phase for 2022, we will develop a data-driven strategy focused on decreasing our emissions, moving towards Net Zero. However, it's important to ensure authenticity by thoroughly vetting ur interim targets via a clear science-based methodology - a step we will take over this next fiscal year.

useAlthough significant work lies ahead, we are confident that several critical steps have been made towards reducing our carbon footprint.

Social

Cultural progress and our people

At RWC, we foster a culture of empowerment and actively encourage the free exchange of ideas. We believe that by giving employees the platform and tools to succeed we will quicken the process of ingraining

sustainability as a core tenet of our global culture. personalEmployee surveys and engagement

We believe that engagement is fundamental to nurturing a culture of smart and sustainable innovation. In 2021, the employee engagement survey, which launched in the Americas in 2018, was expanded to i clude all regions. This means that for the first time ever, we have a truly global perspective of our employees' views with over 1,600 employees completing the survey.

The results reflect positive incremental improvements from the 2019 survey results. We are proud to have an overall favourability score of 75% across all respondents, a three-point increase from the previous score.

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Governance

Our committees and commitment to safety

In 2021, we established a Global Environmental, Social, and Governance (ESG) SteerCo to progress our SPIRIT values and Diversity & Inclusion goals. This SteerCo includes three of our Corporate Executives. Further, we determined it was appropriate to establish a Board-led ESG committee, which was formed in February 2022. These actions reflect our commitment to embed sustainability deeply within our culture - top to bottom.

This year, we are also pleased to publish our inaugural response to the Task Force for Climate-Rleated Financial Disclosures (TCFD) framework. We plan to bring increasing transparency and precision to these responses as we continue our reporting journey.

I was pleased to see the formation of Employee Resource Groups (ERGs) in each region which will enable valuable conversations and engagement around subjects such as cultural diversity, women in manufacturing, and mentoring our young talent.

In addition to our environmental and social aspirations, we plan to address improvements in safety management by investing in additional Health & Safety (H&S) dedicated personnel and comprehensive campaigns to strengthen our safety protocols in all regions. A Board-led Health & Safety Committee was formed in February 2022 to enhance and govern these efforts.

I am encouraged by the passion our employees have shown for sustainability and our developing social impact strategies. I am optimistic that together we will make a positive impact on our communities and our environment in the years to come.

Heath Sharp

Group Chief Executive Officer