Hershey Co/The

Oversight of ESG governance resides with our Board of Directors. The Board has reviewed and approved our ESG priorities and their associated strategies including our climate strategy and related goals. [...] The Board oversees progress against our ESG Priority Goals on an ongoing basis and reviews disclosures in our annual ESG Report and TCFD Report. Each of our Board committees oversees certain ESG responsibilities and reporting requirements as stated in their respective committee charters. [...] The Finance and Risk Management Committee reviews and oversees policies and procedures with respect to human rights, environmental stewardship and responsible sourcing/commodities practices within Hershey's supply chain. This Committee also oversees our comprehensive risk management program and has specific oversight of ESG risks, including human rights, and environmental issues. ESG is a standalone key business risk within our broader enterprise risk universe, alongside Human Capital, and Climate & Environment. [...] The Governance Committee oversees governance of Hershey's ESG policies and programs, including establishment and review of targets, standards and other metrics used to measure and track ESG performance and progress. This includes our GHG emissions and climate-related strategies.

Management's Role The Disclosure Committee, led by our Chief Accounting Additionally, Hershey's Global Sustainability Team, led Officer, is comprised of senior management in key by our CSO, is composed of ESG experts who manage Hershey's ESG governance and management structure functions, including our CSO. This committee ensures that the strategy, implementation and reporting of our global ensures that climate and other material ESG topics are our public disclosures, including those related to ESG and ESG and sustainability initiatives including climate identified, assessed and managed in a well-coordinated, climate, are consistent, accurate, complete and timely. change. The Global Sustainability team communicates comprehensive manner. regularly with internal and external stakeholders who Our cross-functional Sustainability Steering Committee Accountability for ESG and sustainability resides with our provide valuable perspectives on our strategies, program is composed of key business leaders and ESG subject Chief Executive Officer (CEO), with shared responsibility decisions and focus. Notably, this group reviewed the matter experts who meet at least quarterly to evaluate across the management team. Program strategy and findings of our climate scenario planning with ingredient ESG strategy effectiveness and interdependencies, operations are led by our Chief Sustainability Officer (CSO). category managers and senior leaders in our supply chain including those related to climate. This group organization. These conversations help leaders Our Executive team reviews Our Shared Goodness provides input on investments to support ESG program understand the long-term effects of climate change on Promise strategies, data and progress against our deliverables and reviews progress toward goals and key their portfolios and creates a stronger link between our commitments and targets, as well as emerging ESG and performance indicators relevant to our global ESG and climate scenario planning and investments to reduce sustainability challenges and opportunities. The Executive sustainability programs. emissions for our SBTs. team ensures our sustainability initiatives are aligned with Our Energy and Water Management Steering business strategy and finalizes ESG-related investments. **[→For more ESG governance information, see our 2023 Form 10-K,](https://hershey.gcs-web.com/node/30556/html#i4548f14c535242b19fed9e6fe5606926_13)** **Committee, comprised of senior leaders from across** **[2023 ESG Report, and 2024 Proxy Statement.](https://www.thehersheycompany.com/content/dam/hershey-corporate/documents/pdf/hershey-2023-esg-report.pdf)** the company including manufacturing, engineering and health and safety divisions, met quarterly in 2023. It focused on driving progress towards achieving our SBT of 50% absolute reduction in Scope 1 and 2 emissions by 2030 (against a 2018 baseline) by monitoring progress and setting energy efficiency targets for our global manufacturing locations. Our CSO is a leading member of this committee and drives the agenda.