0 Introduction Environmental Social Governance Indexes and Glossary About This Report About This Report GRI Index We report on a range of environmental, social and governance (ESG) topics, in line with the criteria required by a number of leading international ESG reporting frameworks. These standards inform our disclosures and reflect our commitment to giving investors and other stakeholders a detailed, transparent and holistic account of our approach, performance and progress. The responses in the following indexes include links to further information where relevant. Scope This report — Target’s 2022 ESG Report — was published in July 2022 and reflects activities and initiatives in our fiscal year (FY) 2021 (January 31, 2021 – January 29, 2022). It also covers certain subsequent events and initiatives that occurred after the end of FY2021 and prior to publication, which we have endeavored to note as such. All quantitative goals and company data, unless otherwise stated, reflect FY2021. Unless noted, goals and other data in the report reflect our U.S. operations and/or owned brand portfolio, as relevant. Our last report, the 2021 Target Corporate Responsibility Report , was published in August 2021. Report structure Having initially conducted an assessment in 2018–2019, we refreshed the analysis of our ESG priorities in 2021 to meet the expectations of our stakeholders, maintain business strategy, investments, internal and external engagements, and reporting centered around Target Forward and the most important ESG topics across our value chain. We worked with a third-party expert to examine a number of sources, including leading ESG frameworks, industry reports, peer benchmarking, and stakeholder data and insights. Some issues deemed priority for the purposes of this report are not considered material for U.S. Securities and Exchange Commission (SEC) reporting purposes. This report has been written for a broad range of stakeholders, including but not limited to our team members, guests, suppliers, investors and nonprofits. To improve ease of use and comparability with peers, we index our reporting against frameworks from the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), United Nations Sustainable Development Goals (UN SDGs), Task Force on Climate-related Financial Disclosures (TCFD) and the UN Guiding Principles Reporting Framework (UNGPRF), where applicable. Icons in relevant sections clearly indicate what reporting framework the content responds to. Throughout the report, policies that do not have links are references to Target’s internal policies that are not publicly available. Forward-looking statements This report contains forward-looking statements based on our current assumptions and expectations. These statements are typically accompanied by the words “expect,” “may,” “could,” “believe,” “would,” “might,” “anticipates” or similar words. The principal forward-looking statements in this report include: • Our sustainability goals, commitments and programs. • Our business plans, initiatives and objectives. • Our assumptions and expectations. • The scope and impact of ESG risks and opportunities. • Standards and expectations of third parties. All such forward-looking statements are intended to enjoy the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, as amended. Although we believe there is a reasonable basis for the forward- looking statements, our actual results could be significantly different. The most important factors that could cause our actual results to differ from our forward-looking statements are set forth in our description of risk factors included in Part I, Item 1A, Risk Factors of our Form 10-K for the fiscal year ended January 29, 2022, which SASB Index SDG Index TCFD Index UNGPRF Index Glossary should be read in conjunction with the forward- looking statements in this report. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update any forward-looking statement. Disclaimer Our goals and commitments include specific achievements we seek to accomplish, and they have aspirational components that may take years or decades to achieve. Our goals and commitments may be based upon certain assumptions and circumstances that may shift or evolve over time, possibly affecting our achievements, goals and commitments. We welcome your feedback on this report. For more information or to provide comments, please contact us at: [email protected] . 2022 Target ESG Report 66