leaving a positive legacy for our world emissions, and we understand that a holistic emissions reduction target is an important next step. To help move us forward, we are pleased to have committed to set science-based emissions reduction targets with the Science Based Targets initiative and are moving to take important next steps. How about progress on the social front? Last year we announced our commitment to DEI externally for the first time, and I’m very proud of the strides we have made and the positive impact that we know has been felt by our guests, associates and partners. Highlights for me include launching MUSE 100, doubling the number of Black-owned brands in our assortment, investing in in-store guest experience training and integrating DEI across our internal talent life cycle. Today 90% of our associates are women with 54% women directors on our Board and 67% women leaders on our executive team. In addition, 25% of directors and above at Ulta Beauty are people of color. We plan to continue to build upon this strong foundation to improve not only how we hire diverse talent, but also how we develop existing diverse talent. We have work to do to better identify the skills and aspirations of our incredibly diverse store and distribution center associates and ensure they have access to leadership opportunities across the company. While we expect to establish goals for improving our already strong foundation, our priority in the near term is setting our associates up for success to fulfill their respective career paths. We also announced our DEI commitments for 2022, which are thoughtfully designed to drive forward our internal and external efforts in new and creative ways to continue to champion diversity and keep our DEI values at the heart of what we stand for at Ulta Beauty. The commitments span four categories with a focus on passionate about the beauty of our planet as I am about the beauty industry. I believe Ulta Beauty, as the nation’s largest beauty retailer, is in a unique position to bring the beauty community together and make a real difference. We know we can’t do it all, but by keeping ESG a strategic priority, we are focusing on key areas where we think we can make the biggest impact. How will you know when you’ve made an impact? We believe having clear, measurable goals is very important to help drive impact. In the same way we use a variety of data and metrics to establish financial goals for our business, we need data to understand where we are today and what metrics are most appropriate to measure future progress in areas like emissions reduction and DEI. In addition, we must have the infrastructure in place to measure progress toward our goals accurately and transparently. We are making great progress, but acknowledge we have more work to do. What are some of the areas where you’ve made progress this year? In this report, we’re proud to share a more fulsome view of our Scope 3 emissions for the first time. We are already making good progress reducing Scope 1 and 2 amplification of underrepresented voices, assortment growth and equitable guest and associate experiences with a total planned investment of $50 million— doubling our 2021 commitment. This is Ulta Beauty’s second ESG report. What is different this year? We were very proud of our first ESG report and have reflected upon opportunities to improve it this year. Soon after the 2020 report was published, our cross-functional team led by Jodi Caro, our General Counsel, Chief Risk & Compliance Officer, got to work asking for feedback from investors, brand partners, associates, experts and more. They didn’t hold back, and we incorporated much of what we heard into this year’s report. Notably, you’ll see more data, more disclosure and more information on topics like cybersecurity risks, Board governance relative to ESG and our approach to environmental impacts. The report is easier to navigate, including an ESG Fact Sheet to help you quickly locate the data and disclosures that interest you most. Finally, what is the one thing you want everyone who reads this report to take away? We are passionate about making a positive impact on the world through the power of beauty, but we know we aren’t perfect. This journey will take discipline and commitment from all. While we are proud of our ESG achievements to date, we know we cannot be complacent. At Ulta Beauty we also know we are stronger when we work together, and we look forward to continuing this important work together with our associates, partners and so many others who can help us make a difference for our world. I hope you continue to join us on our journey as we continue to unlock beautiful possibilities. Environment Product People Supplemental Data Community 2021 ESG Report 3 Introduction