Dell Technologies (DELL) ESG Update summary

Governance and board updates

• Appointed a Lead Independent Director, increased board independence to 75%, and made all board committees fully independent, enhancing diversity and expertise with two diverse directors added in the last five years.

• Enhanced proxy disclosures and regular engagement with investors and advocacy groups inform governance, compensation, and ESG practices.

• Board and committees oversee ESG integration, compliance, and risk, with regular updates on progress against ESG goals.

• Governance practices align with international frameworks such as GRI, CDP, SASB, and TCFD.

• Board includes experienced leaders in technology, finance, global strategy, and risk management, with all directors having public company board experience and financial literacy.

ESG strategy and governance

• ESG governance is central, with a steering committee and interlock team integrating ESG goals into business strategy and operations, ensuring accountability and risk management.

• ESG leadership regularly updates the board, and reporting aligns with international frameworks, preparing for evolving regulations.

• Board committees, including Audit, Compensation, and Nominating & Governance, are all chaired by independent directors.

Strategy, goals, and progress

• Six priority impact areas: climate action, circular economy, inclusive workforce, digital inclusion, trust, and human rights.

• Key goals include net zero emissions by 2050, 1:1 product takeback by 2030, 50% sustainable product content by 2030, and 1 billion lives improved through digital inclusion by 2030.

• FY24 progress: 61.5% renewable electricity, 96.4% recycled/renewable packaging, 43.09 million kg recycled materials in products, and 396 million people reached through digital inclusion since FY20.

• 35% of global workforce and 29.1% of people leaders are women; 16.1% of U.S. workforce are Black/African American or Hispanic/Latino.