0 1 rward • • • • 0 • Target Forward: Our Sustainability Strategy A year ago, we unveiled Target Forward , our new sustainability strategy, which better positions our business to positively impact both people and the planet. Target Forward emerged from the intersection of our purpose — to help all families discover the joy of everyday life — and an understanding that we can use our size and scale to create more sustainable and equitable solutions. Our efforts over several decades have served as the foundation for the ambitions we’ve set in this new era of sustainability at Target, allowing us to advance goals throughout our business, such as designing our owned brand products for a circular future and advancing gender equity throughout our supply chain. Target Forward was co-created alongside partners, communities and purpose-driven organizations. That collaboration has continued to deepen as we work to achieve the milestones we’ve set. At the same time, we’re identifying new, collaborative ways of working internally to develop clear goal roadmaps and successfully execute them. Our commitments will evolve and refine as we continually learn and bring together information from various sources, such as new scientific research, stakeholder expectations and business demands. We will provide updates on our Target Forward efforts, as well as our complete portfolio of goals, in our annual ESG report and at www.target.com/targetforward . Our vision Target Forward’s vision is to co-create an equitable and regenerative future together with our guests, partners and communities. Our ambitions We are working toward three critical ambitions: 1. Design and elevate sustainable brands 3 2. Innovate to eliminate waste 3. Accelerate opportunity and equity Introduction Environmental Social A Message From Our Chairman and CEO Q&A With Our SVP of CR Who We Are Target Forward: Our Sustainability Strategy ESG Priorities Stakeholder Engagement Progress Highlights We aim to elevate owned, national and emerging sustainable brands that are affordable, inclusive and inspirational. How we’re driving progress • Launched our commitment to spend more than $2 billion with Black-owned businesses by the end of 2025. • Introduced Target Zero in 2022, a new initiative that marks hundreds of new and existing pr oducts across our assortment with the Target Zero icon, signaling products and packaging designed to reduce waste. • Partnered with Bridgeforth Farms , a fifth- generation, Black-owned farm, to launch e xclusive Black History Month tees made in part with its sustainably grown cotton. • Through our Building Blocks for Better Products (B3P) initiative , we have helped 26 beauty and personal care businesses founded by women and Black, Indigenous and people of color (BIPOC) to evaluat e the chemicals used in their products and avoid harmful or undesirable ingredients. Governance Indexes and Glossary We are committed to a sustainable and inclusive supply chain that is just and equitable for all workers. How we’re driving progress • Continued investment in CARE’s Dignified Work initiative to design strategies to drive gender equity throughout our sourcing pr actices and supply chain. • Became a member in 2022 of the Better Than Cash Alliance t o support our commitment that all owned brand suppliers pay workers digitally by 2025. Design and elevate sustainable brands 3 Brands or manufacturers with industry-leading products or services that have context-specific environmental and/or socially beneficial features, backed by credible standards or impact metrics. 2022 Target ESG Report 6