Corporate climate statement

Climate change has the potential to bring about a range of physical and socio-economic impacts that may affect Medtronic’s operations and supply chain, and affect our stakeholders and value chain. These impacts vary in scope and severity, but they underscore the importance of integrating climate resilience and environmental awareness into the company's business strategies. Potential impacts relevant to Medtronic may include:

• Physical impacts – extreme weather events, heatwaves and temperature extremes, energy supply and demand, water scarcity and availability, land use alterations and disturbances
• Socio-economic impacts – environmental regulatory compliance changes, supply chain disruptions, demand and infrastructure dependencies within the healthcare sector, health economics and policy, medical product and service reimbursement and insurance coverage, community and stakeholder expectations, as well as talent and workforce considerations

Medtronic continuously works with its stakeholders to proactively assess potential impacts, develop strategies to mitigate risks, and identify opportunities that arise from the climate-related challenges. By incorporating climate resilience, environmentally-conscious business and operating practices, and innovative solutions into our businesses and operations, products, therapies, and service offerings, we are made more prepared to navigate challenges, while contributing to a healthier planet and healthier society with healthier people.

Physical climate risks — such as extreme weather conditions and events of increasing frequencies, persistence, intensity, and/or severity — may damage property and infrastructure, disrupt global supply chains, exacerbate infectious and respiratory illness, and threaten food and water security, which in turn impacts health and economic stability.

As global efforts to address climate change may vary in progress and by accomplishment, we recognize the need to adapt quickly to realized events that directly affect our operations, changing regulations that affect our business, and stakeholder expectations that influence our business strategy, product development, and brand reputation.

Therefore, we continually strive to mitigate our negative impact on the environment and continuously monitor the impacts of climate change on our business, our stakeholders, and society. Our Global Enterprise Sustainability policy and Global Operations EHS policy set forth our commitment to reduce greenhouse gas (GHG) emissions, and conserve resources, like energy and water. In addition, our enterprise-level environmental impact goals and targets cover short, medium, and long-term time horizons and can be found in our annual Impact Report.

In monitoring and addressing the impacts of climate change, we may leverage the following opportunities:

• Create resilience through resource substitution and diversification, including on-site energy production that reduces our reliance on electricity supplied from national and international power grids
• Develop and provide access to products, therapies, solutions, and services that address health conditions resulting from, or exacerbated by, extreme climate-related conditions and events.
• Reduce operational, production, and/or capital costs by driving innovation to improve resource use efficiencies and eliminating scrap waste within production.

Medtronic is committed to conducting business in a safe and responsible manner, and committed to collaborating with industry peers, governments, employees, customers, suppliers, and communities to achieve results that are environmentally sound, economically viable, societally pragmatic, and technologically feasible. We support corporate transparency of climate performance through our annual corporate filings, Impact Report, other mandatory and voluntary sustainability-related disclosures, and submissions to CDP and other reporting platforms.