Hubbell 2023 Sustainability Report
2023 SUSTAINABILITY REPORT
WHO WE ARE WHAT WE DO WHY IT MATTERS Best-in-class Utility Energize and Electrify Strategically aligned and Electrical Solutions our communities, around sustainability enabling customers society, and the megatrends including to operate critical economy Grid Modernization and infrastructure Reliably Electri昀椀cation and E昀케ciently OUR PILLARS Serve Our Operate with Grow the Develop Customers Discipline Enterprise Our People OUR VALUES Accountability | Ethics | Inclusion | Performance | Quality | Safety
TABLE OF CONTENTS 4 MESSAGE FROM OUR CEO 33 SOCIAL RESPONSIBILITY 5 YEAR IN REVIEW THE EMPLOYEE EXPERIENCE 6 ABOUT HUBBELL INCORPORATED INCLUSION, DIVERSITY, AND EQUITY EMPLOYEE HEALTH AND SAFETY 9 OUR COMMITMENT TO SUSTAINABILITY ENGAGING WITH OUR COMMUNITIES HUBBELL’S SUSTAINABILITY STRATEGY SUPPLY CHAIN RESPONSIBILITY HUBBELL’S SUSTAINABILITY GOALS 54 GOVERNANCE AND ACCOUNTABILITY 13 PRODUCTS WITH IMPACT RISK EXCELLENCE GRID MODERNIZATION AND HARDENING BUSINESS ETHICS AND INTEGRITY RESOURCE EFFICIENCY DATA PRIVACY AND CYBERSECURITY RENEWABLE ENERGY 62 GRI, SASB, AND TCFD DISCLOSURES ELECTRIFICATION 2023 GRI CONTENT INDEX 21 ENVIRONMENTAL STEWARDSHIP 2023 SASB CONTENT INDEX MANAGING OUR ENVIRONMENTAL IMPACT 2023 TCFD CONTENT INDEX CLIMATE CHANGE RISKS AND OPPORTUNITIES 86 ABOUT THIS REPORT ENERGY AND EMISSIONS WATER MANAGEMENT WASTE MINIMIZATION
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES A MESSAGE FROM OUR CHAIRMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER DEAR STAKEHOLDERS, Hubbell is a leading provider of utility and electrical solutions which At Hubbell, we are dedicated to high standards of business conduct and enable our customers to operate critical infrastructure safely, reliably, and ethics for our company and within the communities where we operate. e昀케ciently. With leading positions across the energy infrastructure, Hubbell During 2022, this was no exception. We were recognized by Ethisphere is uniquely positioned to solve critical infrastructure problems related to grid as one of the 2023 World’s Most Ethical Companies, which is the third modernization and electri昀椀cation. Our strategy and portfolio are aligned to consecutive year Hubbell has been named to this esteemed list. Hubbell these key sustainability megatrends, and we remain committed to delivering was also proud to be recognized by Newsweek for the 昀椀rst time as one of best-in-class solutions that energize and electrify our communities, society, America's Most Responsible Companies for 2023. and economy. As we embody integrity in our workplace, we also strive to be good In 2022, we focused on the continued development corporate citizens and support our communities. When hurricanes swept of our sustainability program. We conducted a through the Southeast of the United States, Hubbell’s Emergency Action new materiality assessment to reevaluate the Team responded quickly to deliver our products to impacted areas and environmental, social, and governance issues most help get services back up as fast as possible. The Hubbell Foundation also signi昀椀cant to our company and stakeholders. After donated funds to charitable organizations on the ground in those impacted achieving our 2025 emissions and water reduction areas and in other areas around the globe. goals ahead of schedule, we used the outputs from the materiality assessment to establish new, more This is Hubbell’s 135th anniversary, and we continue to focus on achieving ambitious 2030 emissions and water goals and to our vision of being an exceptional supplier, a valued investment, and a also establish a new enterprise waste reduction goal. rewarding employer. There is much work to be done, but I am con昀椀dent During this past year, we also continued to improve that we will be able to continue to execute on our strategy to drive positive our processes to collect, analyze, and validate our environmental data, outcomes for all of our stakeholders. I welcome you to read this report that which in turn will help us drive forward our progress. showcases our achievements and our path ahead as we move into this next chapter of our sustainability journey. We could not have achieved our strong 昀椀nancial and operational performance without the contributions of our dedicated workforce. Throughout 2022, we continued to invest in our people through educational, development, inclusion, and wellbeing programs. We formalized a hybrid GERBEN BAKKER, work schedule and held a Global Recharge Day to encourage our employees CHAIRMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER to take a day o昀昀 to focus on their physical and mental health. Our employees also participated in our “Elevate” Employee Engagement Survey, which will help us improve the experience and culture at Hubbell in the years ahead. 4
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES YEAR IN REVIEW Governance & Social Accountability Responsibility Our Business Recognized as one of the 2023 World's 16,323 total employees2 Generated Operated Most Ethical $4.9B 48 manufacturing Companies by Ethisphere for the third year in a row 45% racial and ethnic 1 in net sales locations and diversity representation across 10 Named one of America's our US workforce $507M warehouse locations Most Responsible in free cash 昀氀ow Companies 2023 by Newsweek 32% global female generated1 Delivered a representation portfolio of over 500,000+ 100% of compliance cases 33% female and racial/ethnic Products were investigated representation among Board of Directors The Hubbell Foundation donated over $1.2 million Environmental Stewardship to charities 63% of our sales were associated Recycled 822,000 electric, gas, and water with our Products with Impact meters via our smart meter recycling program 1. As of December 31, 2022, net sales and free cash 昀氀ow represent Reduced Scope 1 and 2 emissions by the results of continuing operations. See Note 2 in the Notes to the 67% of our packaging supplies were made of Consolidated Financial Statement in our Annual Report on Form 10-K for the year ended December 31, 2022, 昀椀led with the United States 1% compared to 2021 recycled materials (US) Securities and Exchange Commission (SEC) on February 9, 2023, for further details. 2. This is a global 2022 headcount that includes our joint venture employees. It does not include contingent workers and contractors. 5
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES ABOUT HUBBELL INCORPORATED Hubbell Incorporated (Hubbell) is a leading provider of utility and electrical solutions enabling customers to operate critical infrastructure safely, reliably, and e昀케ciently. Hubbell's solutions energize the economy and electrify communities In Front of and Behind The Meter. HUBBELL'S HISTORY Founded in 1888, Hubbell’s rich history and culture are grounded in our Harvey Hubbell 昀椀rst founded dedication to innovation and quality. For 135 years, we have delivered leading- Hubbell Incorporated in the edge products with a broad range of critical infrastructure applications. late 1800s in Connecticut when he developed As a business, Hubbell focuses on leveraging its foundational strengths tooling and equipment while evolving to meet the needs of our customers and society. Our for machinery during the business strategy is aligned with clean energy megatrends in grid Industrial Revolution. Since modernization and electri昀椀cation, and our solutions advance sustainable then, we have expanded outcomes for our customers and value chain. Our critical infrastructure solutions modernize our business and now o昀昀er and harden aging infrastructure, promote resource e昀케ciency, and facilitate the proliferation of over 500,000 products in renewables and the electri昀椀cation of everything. As the global community works to accelerate a broad range of utility and the transition to a low-carbon economy, our products are well positioned to solve some of the electrical applications. most pressing challenges facing our customers, communities, suppliers, and climate. 6
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES OUR BUSINESS Hubbell’s strategic focus is to solve critical infrastructure problems for utility and electrical customers through reliable and innovative solutions. We seek to achieve this by investing in new product development to help our existing products serve new and current customers and through acquisitions of complementary businesses in established markets. Our new product development also tactically addresses growth opportunities in targeted vertical markets with a sustainability focus, including renewables and electric transportation. Hubbell’s reporting segments consist of Hubbell Utility Solutions (HUS) and Hubbell Electrical Solutions (HES). Both segments support energy infrastructure In Front of The Meter, at The Edge, and Behind The Meter. In Front of The Meter is where utilities transmit and distribute energy to their customers through the grid. The Edge consists of smart meters and communications systems which connect utilities with owners/operators and allow energy and data to be distributed back and forth. Behind The Meter is where owners and operators of buildings and other critical infrastructure consume energy. 7
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES HUBBELL UTILITY SOLUTIONS HUBBELL ELECTRICAL SOLUTIONS Hubbell Utility Solutions enables the grid to conduct, communicate, and Hubbell Electrical Solutions are essential to managing power across a wide control energy across utility applications. HUS provides critical components range of industries and applications. HES provides critical components that that allow the grid to reliably transmit and distribute energy, as well as allow operators of buildings, factories, and other industrial infrastructure communications and controls technologies that make the grid smarter and to connect, protect, wire, and manage power reliably and e昀케ciently. HES more 昀氀exible. HUS solutions include utility transmission and distribution comprises businesses that design, manufacture, and sell stock and custom (T&D) components such as arresters, insulators, connectors, anchors, electrical products including standard and special application wiring device bushings, and enclosures, as well as smart meters, communications systems, products, rough-in electrical products, connector and grounding products, and protection and control devices. HUS supports the electrical distribution, and other electrical equipment. HES products have applications in the light electrical transmission, water, gas distribution, telecommunications, and industrial, non-residential, residential, commercial, wireless communications, solar and wind markets. transportation, data center, heavy industrial, and solar and wind markets. UTILITY SOLUTIONS ELECTRICAL SOLUTIONS In Front Of The Meter The Edge Behind The Meter Utility, Transmission, Distribution Communications and Controls Diversified Applications, In Front of The Meter is where the utilities The Edge consists of smart meters and com- Owner/Operator transmit and distribute energy to their munication systems which connect utilities Behind The Meter is where owners of customers. This is the backbone of the grid. with owners/operators and allow energy and buildings and other critical infrastructure data to be distributed back and forth. consume energy. RENEWABLES ELECTRICITY TELCOM NON-RESIDENTIAL HEAVY INDUSTRIAL GAS LIGHT INDUSTRIAL RESIDENTIAL WATER 8
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES OUR SUSTAINABILITY APPROACH AND AMBITIONS Ingraining sustainability into our strategy, In 2022, we 昀椀nished implementing a new software solution to culture, and systems is a core priority for our help us manage our energy, emissions, water, and waste metrics business. Throughout 2022, we took several across our entire business. targeted steps to enhance our environmental, social, and governance (ESG) program, connecting our data management procedures We conducted a new materiality assessment to our overarching sustainability strategy: to refresh our focus on the ESG issues that are signi昀椀cant to our business and stakeholders. OUR COMMITMENT Using our new material sustainability topics, we developed an ESG Framework to organize our priorities TO SUSTAINABILITY and drive the impact of our program forward. Our commitment to sustainability is an undercurrent that runs through everything we do at Hubbell. Across We set more ambitious emissions and water our global operations, and extending goals since we achieved our former goals in 2021, into our value chain, we aim to ahead of schedule. For the 昀椀rst time ever, we address ESG factors that are established an enterprise waste reduction goal, meaningful to our employees, which will help us become more responsible with customers, suppliers, shareholders, our consumption and production of materials. and communities. As a provider of electrical and utility products, we are focused on reducing our operational impact, driving social and environmental responsibility in the workplace, and delivering solutions that help our customers solve critical challenges. Through these e昀昀orts, we believe we We provided tools and training to our sales team to better can empower communities, improving people’s lives and the educate our customers about our sustainability programs. world around us. 9
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES Our material ESG topics are increasingly interconnected and can often impact each other. As such, they should not be viewed in isolation. The results of our materiality assessment inform our sustainability strategy, goals, and initiatives. As our ESG program continues to develop and HUBBELL MATERIALITY MATRIX (TOP 14 TOPICS) mature, our sustainability team will regularly review our ESG priorities to ensure our strategy The following 14 topics resulted from the 2023 Materiality Assessment. MATERIALITY ASSESSMENT remains aligned with the areas that are meaningful for our company and stakeholders. It is imperative to our business that we focus our sustainability strategy and initiatives on the ESG topics that are most important and relevant to our company Climate change and stakeholders. To that end, in 2022 we Inclusion, diversity, recon昀椀rmed our ESG priorities since the last and equity time we performed a materiality assessment Energy and was in 2020. For this process, we: emissions Business ethics, integrity, Conducted peer and industry research and transparency to analyze and align on an initial list of relevant topics. AKEHOLDERS Interviewed, surveyed, and gathered T Products with Impact Risk excellence perspectives from internal and external stakeholders, including employees, Human rights in investors, customers, suppliers, and ESG the workplace rating agencies to re昀椀ne the issues list. Supply chain and value chain Data privacy and Scored, prioritized, and ranked the topics O EXTERNAL S responsibility cybersecurity based on criteria from our business strategy, leading global reporting Employee guidelines, relevant market trends, and Community experience Employee health other salient inputs. impact and safety Validated the resulting ESG topics and SIGNIFICANCE T materiality matrix with Hubbell’s ESG Steering Committee and leadership team. Water and waste Product quality and safety SIGNIFICANCE TO HUBBELL Environmental Social Governance 10
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES HUBBELL’S ESG VISION Solve critical challenges for our customers, SUSTAINABILITY communities, and climate. STRATEGY Deliver products and solutions that enable critical We view embedding sustainability into our business as a continuous endeavor that requires ESG MISSION infrastructure to serve stakeholders e昀케 ciently, evolving our program to improve our ability to safely, reliably, and sustainably. drive positive impact. To that end, in 2022, we created a new ESG Framework to represent our sustainability strategy, propelling Hubbell forward on our journey of delivering sustainable outcomes for our business, customers, communities, investors, and suppliers. SERVE OPERATE GROW DEVELOP Our ESG Framework, which is comprised of our ESG Vision, ESG Mission, Hubbell's Strategic TEGIC PILLARS OUR WITH THE OUR Pillars, and our ESG Objectives, guides our CUSTOMERS DISCIPLINE ENTERPRISE PEOPLE approach to sustainability across our enterprise. TRA At the strategic level, our ESG Vision, ESG S Mission, and Strategic Pillars guide our ESG program and initiatives. At the tactical level, Develop Manage Address climate Deliver a our ESG Objectives center our focus on how high quality and reduce change through world-class our products and solutions, operations, and and safe the impacts products and employee people can create value for our stakeholders and planet. Our ESG Objectives also support products of our solutions that experience our Strategic Pillars, since sustainability is part for our operations support the while advancing of our business strategy. In the years ahead, customers and value transition to inclusion, our ESG Framework will help us develop that solve chain. a low-carbon diversity, and impactful programs and initiatives to improve critical and resilient equity principles our performance, advance progress toward ESG OBJECTIVESchallenges. economy. in our workforce. our goals, and ultimately, shape a resilient and sustainable future. 11
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES HUBBELL’S SUSTAINABILITY SUPPORTING THE UNITED NATIONS SUSTAINABLE GOALS DEVELOPMENT GOALS As a global electrical and utility solutions provider, we consider how our e昀昀orts align with and contribute to global ESG priorities— In 2023, we committed to new including the United Nations (UN) Sustainable Development Goals enterprise-wide climate, water, and (SDGs). To that end, of the 17 SDGs, we are focused on the following seven SDGs that we believe are most relevant to our business and our waste goals for our company. ability to drive impact. These targets build upon the former greenhouse gas emissions Promoting Inclusion and water goals we achieved in 2021 by increasing our level of Inclusion, diversity, and equity ambition. Since we are dedicated to thinking holistically about continue to be top priorities for our the impact of our business operations, we also established a business, and we have established waste goal for the 昀椀rst time ever in 2023. Collectively, our new programs and initiatives that promote a diverse, safe, and inclusive goals will help drive our sustainability performance. workplace. The Hubbell Foundation is also committed to supporting communities and increasing opportunities through its signature programs. In addition, we strive to contribute to economic growth and equality by encouraging diverse and local vendors to be part of our supply chain. Enabling Sustainability GREENHOUSE GAS EMISSIONS GOAL We are committed to 1 reducing the environmental Reduce Scope 1 & 2 emissions by 30% by 2030 impact of our operations. WATER GOAL We continue to invest in e昀케ciency projects, alternative energy, and 1 product design that contribute to a low-carbon footprint. Hubbell also Reduce water usage by 25% by 2030 creates products that support renewable energy infrastructure and WASTE GOAL smarter, stronger, and more e昀케cient grids. Our solutions can be found in 1 Reduce hazardous waste by 30% by 2030 infrastructure around the world, keeping buildings and energy systems safe, reliable, and resilient. Overall, we are devoted to innovation and enabling sustainability for our customers and value chains. 1. Goals are compared to a 2022 baseline. 12
pcore image.pdf 1 12/19/22 1:12 PM MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES C M Y CM MY CY PRODUCTS WITH IMPACT CMY K Hubbell is a leading electrical infrastructure company strategically aligned around clean energy megatrends, including grid modernization and electri昀椀cation. As more electrical applications plug into an aging grid, Hubbell’s critical infrastructure solutions energize and electrify our communities, society, and the economy. 13
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES For 135 years, our critical solutions have enabled 135 our customers and the communities they serve to YEARS OF operate energy infrastructure with greater e昀케ciency, safety, INNOVATION reliability, and sustainability. Hubbell's solutions enable the shift toward DEFINING PRODUCTS WITH IMPACT clean energy and a low-carbon economy. Our products play a key role in the generation, Hubbell’s Products with Impact support the transition to an energy e昀케cient and low-carbon transmission, distribution, and end use of economy through four impact categories: energy, unlocking the potential for our customers to drive decarbonization throughout 1) GRID MODERNIZATION 3) RENEWABLE ENERGY the entire energy system. AND HARDENING Our Products with Impact address 4) ELECTRIFICATION and support sustainability, resiliency, 2) RESOURCE EFFICIENCY and the integration of clean energy To de昀椀ne our four Products with Impact categories, we leveraged inputs from the European technologies into the grid. Union Taxonomy for Sustainable Economic Activities, Sustainability Accounting Standards Board, and CDP (formerly the Carbon Disclosure Project) de昀椀nitions for products related to renewable energy, energy e昀케ciency, and a low-carbon economy. Our Products with Impact categories re昀氀ect the opportunity areas where we deliver the largest positive impact for our customers and value chain. 14
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES VALUE GENERATED FROM OUR PRODUCTS WITH IMPACT Our Products with Impact support the transition to an energy e昀케cient and low-carbon economy through four impact categories: grid modernization and hardening, resource e昀케ciency, renewable energy, and electri昀椀cation. Of our $4.9 billion sales in 2022, 63% were associated with our Products with Impact, 1 which represents >$3.1 billion. 1. This calculation includes all sales from electrical utility T&D components and utility communications and controls, as well as products sold directly into solar and wind applications. It also includes products that support grid modernization and communications applications such as 5G/昀椀ber/broadband access and data centers. This calculation excludes sales from products sold into oil and gas markets, which enhance the safety of those applications. It also excludes sales from our broader portfolio of electrical products sold into various industrial, non-residential, and residential applications. 15
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES Products With Impact Across Our Business RENEWABLES UTILITY TRANSMISSION UTILITY COMMUNICATIONS AND CONTROLS AND DISTRIBUTION COMPONENTS Connectors & Lugs • Arresters • Insulators • Switches • Fuses Smart Meters • Advanced Metering Products Bonding & Grounding • • Bushings • Enclosures • Connectors Infrastructure • Reclosers • Controllers Wire Management • Anchors • Pole-line Hardware • Smart Switches • Relays Brands Electrical Distribution • End Markets Solar Generation • Electrical Transmission & Electrical Distribution • Wind Generation Substation • Telcom • Water Distribution Water/Civil GRID MODERNIZATION AND INFRASTRUCTURE HARDENING Products with RESOURCE EFFICIENCY Impact Categories ELECTRIFICATION PROLIFERATION OF RENEWABLE ENERGY 16
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES Across energy infrastructure, Hubbell’s solutions: Replace and strengthen Modernize the grid so it aging infrastructure, can manage increased making it more durable, energy loads brought on reliable, and resilient. by electri昀椀cation and the integration of renewables. Harden the grid to mitigate against and adapt Automate the grid, allowing it to the intensifying impacts to predict, prevent, and of a changing climate, respond to changes in the including responding to and energy system as well as withstanding the increased frequency safety hazards, such as wild昀椀res or and severity of storms. lightning strikes. GRID MODERNIZATION AND HARDENING GETTING THE LIGHTS BACK ON WITH H.E.A.T. Aging utility grids are increasingly vulnerable to As we prepare for and respond to extreme weather events outages and equipment caused by climate change, strengthening and repairing critical failures, as well as the impacts of climate infrastructure is crucial. During severe weather events and change. As the economy transitions to storms, Hubbell’s Emergency Action Team (H.E.A.T.) works renewable energy, intermittent and two-way around the clock to deliver our products to impacted areas. 昀氀ow of electricity also puts increasing stress In May of 2022, a devastating severe wind event, also known on already aged infrastructure. Hubbell's as a derecho, caused over 1 million people to lose electricity solutions enable a more reliable, resilient, in southern Canada. Thanks to H.E.A.T.’s swift action, energy and e昀케cient grid by upgrading critical providers were able to restore power to more than 90% of components while equipping utilities with their customers within one week. data-driven insights through enhanced communications and controls. 17
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES RESOURCE EFFICIENCY Hubbell’s products drive resource e昀케ciency, both before and after they reach the hands of our customers. Within our own facilities and ANCHORING DOWN throughout the development and production of our solutions, we focus ON GRID HARDENING on managing operational and material resources e昀케ciently. We also enable our customers to operate electrical and utility infrastructure more e昀케ciently. Our Hubbell has a deep and smart meters and advanced metering infrastructure communications solutions allow broad portfolio of critical our customers to track the use of energy, water, and other natural resources in real utility T&D components time. These products also help end users identify opportunities to optimize resource which strengthen and consumption and provide control capabilities to take action when needed. harden grid infrastructure. For example, our AB Chance helical piles are foundation systems used to stabilize structures and Hubbell’s Solutions Enable foundations, enabling grid hardening. Smart, Strong, and E昀케cient Grids Helical piles anchor electrical transmission poles and towers in the DATA HOME COLLECTOR ground, making the grid UNIT HUBBELL DISTRIBUTION more resilient against SUBSTATION GRID METER severe weather events. COMMUNICATIONS MONITORING They can also be used TRANSMISSION CAP BANK for seawall/bank shoring EV CHARGING with the added bene昀椀t of RECLOSURES preventing erosion. SUBSTATION E N I LOAD CONTROL L S A Helical piles can also enable POWER G GENERATION STREETLIGHT the safe development of METHANE brown昀椀elds because they DETECTION can be installed with little SOFTWARE E N I L to no soil disturbance. R E T A W RENEWABLES LEAK DETECTION 18
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES RENEWABLE ENERGY Hubbell’s Role in the Solar “Balance of System” From generation all the way to distribution, Hubbell’s products support the advancement of renewables our critical infrastructure solutions facilitate from the ground up. Our products and solutions span the integration of renewables into the energy mix. Hubbell is a leading “balance the entire solar “balance of system,” including grounding of system” electrical solutions provider for solar and other solutions, wiring, and arresters. renewable energy applications. Our components enable the generation of renewable energy, as well as the safe, reliable, and e昀케cient transmission of energy from renewable and 1 Medium & Large 1 Elbow Arresters 4 T-Bodies/Elbows distributed energy sources to end consumers. Beyond our Compression 2 Primary Pedestals 5 Accessories T&D components, our utility communications and controls Terminals & Splices (Sectionalizing Cabinets) products, such as smart meters, reclosers, smart switches, 2 Grounding Solutions and relays, enhance the 昀氀exibility of the grid so that it can 3 Box Pads & Ground balance demand with intermittent energy supply. 3 Cold Shrink Sleeves 4 5 6 4 Wiley™ Bonding & 4 5 6 Grounding 4 5 6 4 5 6 5 Burndy® UNIRAP™ 1 2 3 4 5 6 Cable Ties 1 2 3 4 5 6 GRID AUTOMATION – 6 Wiley™ Wire 1 2 3 1 2 4 5 A KEY TO ELECTRIFICATION Management 1 2 3 1 2 3 Our Beckwith Electric™ controls and 2 4 5 protective relays enable the grid 1 2 3 to act and react to changes in the energy system. They function as complementary products and, when working together with our Hubbell ELECTRIFICATION Power Systems grid components and Aclara® communications Electri昀椀cation in transportation and other infrastructure applications technology, they help form a fully drives the need for innovative power management and utility solutions. automated utility solution that can Hubbell’s electrical solutions are essential to connect, protect, wire, respond to changes in demand as and manage electricity across a wide range of industries. Hubbell’s more energy users come online. utility solutions also enable more electrical applications to be integrated into the grid infrastructure through upgraded components, as well as communications and controls technologies that enhance grid visibility, 昀氀exibility, and control. 19
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES NEW PRODUCT DEVELOPMENT From ideation to production, we are committed to developing Our innovation strategy aims to accelerate Hubbell's best-in-class products that meet our customers’ business and sustainability objectives. Hubbell’s New Product Development organic growth by increasing investment in vertical (NPD) e昀昀orts are centered on developing solutions that enable our customers to solve critical infrastructure problems. In addition to markets aligned with clean energy megatrends, continuing to pursue NPD innovations in our existing product lines, including grid modernization and electri昀椀cation. Hubbell has recently accelerated our e昀昀orts to invest in higher value innovation opportunities across our portfolio. These investments are primarily focused in six key strategic growth verticals: utility T&D infrastructure, utility distribution automation, electrical transportation, renewables, data centers, and communications. Increasing our NPD investment in these verticals supports our strategy to accelerate organic growth across clean energy megatrends in grid modernization and electri昀椀cation. In addition, our NPD e昀昀orts are conducted through a comprehensive stage-gate process, which includes a stage evaluating environmental performance. PRODUCT QUALITY AND SAFETY Delivering exceptional products that are high quality and safe is paramount to Hubbell. From product design to material sourcing to manufacturing, we aspire to develop solutions that meet, and even surpass, the expectations of our customers. To that end, we embed foundational elements of quality, safety, and reliability into our full product lifecycle. Due to the diverse nature of our businesses and their associated product lines, each business unit is responsible for managing product quality and safety and aligning their approach with relevant production factors, business targets, and customer requirements. Product quality and safety management practices that are consistent across both our HUS and HES segments include establishing safety considerations during the product design and production process, performing product quality testing procedures that re昀氀ect best practice quality management systems like the International Organization for Standardization (ISO) 9001, and ensuring compliance with applicable regulatory requirements. 20
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES ENVIRONMENTAL STEWARDSHIP Acting as a steward for our environment and natural resources is critical to our company. As we solve critical challenges for our customers, we are also committed to improving the environmental impact of our own operations. 21
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES ESTABLISHING NEW ENVIRONMENTAL GOALS Since we achieved our previous environmental goals in MANAGING OUR 2021, we established new goals to further reduce our impacts and accelerate our sustainability performance. ENVIRONMENTAL These enterprise-wide goals provide measurable targets against which we will track our progress. IMPACT GOAL: GOAL: GOAL: As a company dedicated to operational EMISSIONS WATER WASTE excellence, we are always taking steps to improve the way we do business. This includes the integration of responsible production practices across our global facilities. We employ strategic practices, ranging from tracking our environmental performance metrics to implementing targeted initiatives at our sites to improve the 30% 25% 30% e昀케ciency of our operations. Overall, we strive to manage our direct reduction reduction reduction operations and activities as e昀케ciently as possible to reduce the impact of our business on the planet. in Scope 1 and 2 in water usage in hazardous waste 1 1 1 emissions by 2030 by 2030 generation by 2030 1. Goals are compared to a 2022 baseline. DRIVING EFFICIENCY ACROSS OUR OPERATIONS Hubbell’s Environmental Management System (EMS), which we develop each In addition, our sites leverage our Sustainability and Infrastructure year for continuous improvement, guides our processes for managing our Management Handbook, which outlines procedures for improving the environmental impacts and regulatory risks holistically. As an enterprise-wide e昀케ciency of our facilities. This guide is also complemented by a Site- framework, it was developed with reference to industry-leading practices Level Roadmap resource that provides recommendations, with examples, including ISO 14001 and the Occupational Safety and Health Administration’s for reducing environmental impacts at the facility level. Together, our (OSHA) Safety and Health Management System guidelines. Several of EMS, Sustainability and Infrastructure Management Handbook, and Site- Hubbell’s facilities are also ISO 14001 certi昀椀ed, re昀氀ecting their attainment of Level Roadmap provide structured guidance for driving improvements in an international standard for e昀昀ective environmental management. We also operational e昀케ciency across our locations. conduct environmental audits of our facilities both during routine safety and compliance audits as well as prior to buying, renewing, or selling properties to ensure they meet our environmental criteria. 22
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES ENVIRONMENTAL DATA MANAGEMENT Starting in 2021, Hubbell began implementing a new data software solution to enhance our management of environmental performance metrics. With implementation completed in 2022, our new data tool comprehensively captures energy consumption, greenhouse gas emissions, water usage, and waste generation from our facilities worldwide. We also established new procedures and veri昀椀cation controls to capture and maintain the quality of our data. Streamlining our data management process has enabled us to gather insights, make more informed decisions, improve our disclosures, and drive progress toward our sustainability priorities and goals. For more details on Hubbell’s energy, emissions, waste, and water metrics, please see pages 25–32. HUBBELL’S SUSTAINABILITY IMPACT PROGRAM In 2022, we formalized the creation of our Sustainability Impact Program. This program allocates capital to Hubbell facilities to bolster site-speci昀椀c or enterprise-wide projects that enhance the environmental performance and e昀케ciency of our business operations and processes. Throughout 2022, the program supported a variety of initiatives spanning LED lighting retro昀椀ts, HVAC upgrades or replacements, and compressed air demand reduction and optimization improvements. 23
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES CLIMATE CHANGE RISKS AND OPPORTUNITIES There is urgency to mitigate the impacts of OPPORTUNITIES climate change. We aspire to expand our portfolio of utility and electrical solutions to align with the demand from new and emerging In recent years, global temperatures have risen, signaling long term markets associated with the transition to a low-carbon changes in our climate patterns. Simultaneously, hurricanes, droughts, economy. Our NPD team spearheads innovation to develop heat waves, and other natural disasters have sent ripples through our new products and solutions that enable sustainable global community. As a result, we believe that addressing climate outcomes for our customers. In addition to new product change is vital for enabling a resilient, 昀氀ourishing society. We focus on development, we implement energy, water, and waste trying to manage the climate-related risks and opportunities of our efficiency projects across our global facilities to reduce business for our stakeholders and the planet in the near and long term. operational costs and, most importantly, mitigate against and adapt to climate change. PHYSICAL RISKS TRANSITIONAL RISKS As part of response planning for natural disasters and severe Throughout the year, we focus on proactively managing weather, we evaluate the physical risks posed by climate transitional risks, which can have a 昀椀nancial, legal, and change for our facilities and operations. To address these risks, reputational impact on our business and operations. We we have established business continuity plans to protect our regularly monitor the evolving conditions of the legal, employees, properties, and assets from disruptions that may regulatory, technology, and market landscape and engage result from the physical impacts of climate change, such as in response planning to identify and mitigate future risks. increased incidence and severity of storms. These plans help Actions that emerge from our risk management strategy, such us prepare for possible catastrophic events and support timely as improving environmental performance and reporting, are recovery of business operations to ensure we continuously essential to ensuring business compliance and resilience as we deliver products and solutions to our customers. transition to a low-carbon economy. 24
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES ENERGY AND EMISSIONS At Hubbell, we are committed to managing our energy use and lowering our greenhouse gas (GHG) emissions. As part of that e昀昀ort, we focus on measuring our energy and fuel consumption and track our emissions to identify e昀케ciency and reduction opportunities. Through the recent implementation of a new environmental data software solution, in 2022 we enhanced our energy and emissions inventories by incorporating more of Hubbell’s locations and o昀케ces, compared to our previous 2021 dataset which was limited to our largest warehouses and manufacturing facilities worldwide. Our new data tool, which currently captures our Scope 1 and 2 emissions, serves an important role in enabling us to track our greenhouse gases and identify reduction opportunities. To address climate change, we focus on pursuing operational improvements in our facilities. However, to drive meaningful results, we recognize the importance of establishing an ambitious goal. Since we achieved our previous emissions goal, we established a new GHG emissions goal to reduce our absolute Scope 1 and 2 emissions by 30% by 2030 compared to a 2022 baseline. Our new goal, which was developed using leading science-based methodologies within the context of our business’ current impacts and future growth, will guide our emission reduction e昀昀orts and launch our sustainability program into a new chapter. GHG emissions and -20% -5% -13% energy performance reduction reduction reduction since 2019: IN SCOPE 1 EMISSIONS IN SCOPE 2 EMISSIONS IN ENERGY CONSUMPTION See page 26 for more information on our GHG emissions and energy consumption performance and methodology. 25
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES Energy Consumption and GHG Emissions, 2019-2022 FUEL AND ENERGY CONSUMPTION (KWH)1,2,3 2019 2020 2021 2022 Electricity 225,752,286 217,570,657 219,989,427 211,803,212 Natural Gas 179,180,476 160,553,183 140,301,056 147,424,456 Stationary Fuels 34,359,153 30,769,658 26,108,275 24,919,945 Transport Fuels 5,856,358 3,770,161 4,273,124 4,647,615 Total Energy Consumption 445,148,273 412,663,659 390,671,881 388,795,228 Energy intensity per million dollars of sales 112,793 112,061 93,148 78,578 (kWh/$M of net sales) Energy and GHG Emissions Inventory Footnotes: 1,2,3 GREENHOUSE GAS EMISSIONS (TCO E) 2019 2020 2021 2022 1. Hubbell reports all energy and emissions from our wholly owned 2 companies’ leased and owned manufacturing, warehouse, and o昀케ce SCOPE 1 EMISSIONS facilities worldwide. The energy and emissions of consolidated joint operations are included pro rata, based on our 50% interest. We used Natural Gas 32,478 29,103 25,432 26,721 the methodology outlined in the World Resource Institute (WRI) and the World Business Council for Sustainable Development’s (WBCSD) GHG Protocol: A Corporate Accounting and Reporting Standard (Revised Stationary Fuels 7,950 7,211 5,999 5,725 Edition) to calculate the Scope 1 and 2 emissions generated by our facilities. Electricity for select sites where Hubbell does not pay the utility bill (i.e., primarily tenant-shared o昀케ce space) is excluded from Transport Fuels 1,448 932 1,057 1,148 the reported electricity number as well as from the reported Scope 2 (location-based) emissions. Estimates are used where primary data is not available. Energy is reported in kilowatt-hours (kWh). GHG emissions are Refrigerants 431 192 293 76 reported in metric tons of carbon dioxide equivalent (tCO e). 2 2. In 2022, we completed our implementation of a software solution that Total Scope 1 42,307 37,439 32,781 33,671 enables us to track energy and emissions across our enterprise. This led to an improvement in our data measurement methodology and the number of sites and sources included in our inventory. As a result, we SCOPE 2 EMISSIONS restated our historical energy and emissions. 3. Hubbell established a threshold for signi昀椀cance of 5% or greater in Total Scope 2 (Location-based method) 96,595 90,612 94,159 91,948 Hubbell’s total base-year emissions for the company’s rebaseline policy. While our new environmental goals reference a 2022 baseline, we applied this policy to our 2019-2021 historical data to help us track Hubbell’s Total Scope 1 & 2 138,903 128,051 126,941 125,619 environmental reduction progress over time. In October 2021, Hubbell initiated the sale of its Commercial and Industrial Lighting business, which was completed in 2022. This divestment triggered our rebaseline Scope 1 & 2 emissions intensity per million 35 35 30 25 policy and our restated historical data re昀氀ects this recalculation. In dollars of sales (tCO e/$M of net sales) addition, Hubbell grew its business with acquisitions in the second half 2 of 2022 - PCX Holdings LLC, Ripley Tools, and REF Automation. These acquisitions did not trigger our rebaseline policy for historical data, however these sites are included in our inventory for 2022 onward. 26
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES PURSUING DECARBONIZATION We regularly evaluate the e昀케ciency of our facilities to identify opportunities to continuously improve our carbon footprint. Progress toward our GHG Energy-related Improvements emissions goal is mainly driven through energy and emissions reduction projects. These initiatives range from technical projects executed at individual sites to more holistic behavioral-change campaigns rolled out across our entire enterprise. In 2022, our decarbonization projects included the following: Retro昀椀tting lighting with more Optimizing energy use of e昀케cient LED bulbs. equipment through compressed Behavioral Change air blow gun optimization, compressed air demand reduction, boiler blowdown Enacting a "shut it o昀昀" behavioral-change initiative to control, or other mechanisms. encourage our colleagues to turn o昀昀 lights and equipment when not in use. Replacing equipment with higher energy e昀케ciency models, including HVAC systems, air compressors, and dust collectors. Repairing compressed air leaks. The decarbonization projects we pursued in 2022 will generate GHG emissions savings of approximately 3,000 tCO e per year. Integrating renewable energy into Installing solar panels at 2 our purchased electricity mix. our sites. 27
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES WATER MANAGEMENT At Hubbell, we view water stewardship as vital for both mitigating and adapting to the e昀昀ects of a changing climate. ESTABLISHING A NEW WATER GOAL Water is essential for life, and as a company, we embrace 25% We will reduce our company-wide our responsibility to manage and reduce our usage of water usage by 2030. such an important resource. To that end, our facilities BY 2030 manage water use and e昀툀uent discharge at the site level in accordance with local requirements and regulations. In addition, our water management approach across our We developed a new water target to global operations includes, but is not limited to: challenge ourselves to continue reducing our global water usage. The new goal is to reduce Measuring water water usage by 25% by 2030, compared to Identifying and a 2022 baseline. We also enhanced our data usage across all our implementing collection e昀昀orts and process by employing operating locations initiatives across our a new environmental data management worldwide. facilities that lessen software solution that encompasses our water usage, such as our water usage metrics. Compared to Assessing where, installing low-昀氀ow water valves our previous water inventory which was across all our global and leak detection mechanisms limited to our largest warehouses and sites, we have and analyzing production manufacturing facilities, our improved water facilities located in processes for water e昀케ciency data methodology recalculated water usage regions with baseline water opportunities. across all our global sites, incorporating more stress categorized as high or locations and o昀케ces. This enabled us to extremely high, according to the Reviewing all legal capture a more comprehensive picture of our World Resources Institute’s and other water impacts and reduction opportunities. Aqueduct Water Risk Atlas tool, requirements for to aid decision making around wastewater and water reduction initiatives. e昀툀uent management and implementing measures that restrict discharge to limit potential environmental impact. 28
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES Using our new water goal, we intend to conduct water audits, identify reduction opportunities, and implement measures that increase water e昀케ciency across our global facilities. WATER STEWARDSHIP WATER USAGE, 2019–2022 IN THE WHITE MOUNTAINS We are proud to have a facility WATER USAGE (KGAL)1,2,3 2019 2020 2021 2022 located in the heart of the White Total Water Usage 178,780 154,601 141,530 123,088 Mountains National Forest in New Hampshire and focus on being good Water intensity per million dollars 45 42 34 25 stewards to the local ecosystem. To of sales (kgal/$M of net sales) that end, our facility employs a state- of-the-art water treatment system to ensure the water we discharge not Water Inventory Footnotes: only meets, but exceeds, the local 1. Hubbell reports all water usage from our wholly owned companies’ leased and owned manufacturing, warehouse, and o昀케ce facilities worldwide. The water usage of consolidated joint operations are included pro rata, based on our 50% interest. Water usage for select sites where Hubbell does water quality requirements. This site not pay the utility bill (i.e., primarily tenant-shared o昀케ce space) is excluded from the reported water usage. Estimates are used where primary data has also implemented water e昀케ciency is not available. Water usage is reported in kilogallons (kgal). measures within its production 2. In 2022, we completed our implementation of a software solution that enables us to track water usage across our enterprise. This led to an improvement in our data measurement methodology and the number of sites and sources included in our inventory. As a result, we restated our process to help us lower our impact historical water usage. on the nearby watershed. 3. Hubbell established a threshold for signi昀椀cance of 5% or greater in Hubbell’s total base-year water usage for the company’s rebaseline policy. While our new environmental goals reference a 2022 baseline, we applied this policy to our 2019-2021 historical data to help us track Hubbell’s environmental reduction progress over time. In October 2021, Hubbell initiated the sale of its Commercial and Industrial Lighting business, which was completed in 2022. This divestment triggered our rebaseline policy and our restated historical data re昀氀ects this recalculation. In addition, Hubbell grew its business with acquisitions in the second half of 2022 - PCX Holdings LLC, Ripley Tools, and REF Automation. These acquisitions did not trigger our rebaseline policy for historical data, however these sites are included in our inventory for 2022 onward. 29
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES WASTE MINIMIZATION ESTABLISHING A As a business, Hubbell is IN 2022 NEW WASTE GOAL also committed to 30% responsible consumption We completed our Reduce hazardous and production, which waste and recycling waste generation includes managing and minimizing our waste generation. In data inventory, by 30% by 20301 addition to pursuing measures that comprehensively reduce the amount of waste we dispose at our facilities, we also capturing waste recover, reuse, and recycle byproducts, such as scrap metals, activities across our 1. Goals are compared to a 2022 baseline. and other surplus materials in our global manufacturing, operations whenever feasible. When not feasible, we responsibly dispose warehouse, and o昀케ce of waste materials and encourage our facilities to identify new ways to facilities. reduce waste throughout our IN 2022 manufacturing processes. We also established a new waste However, to minimize waste target focused on reducing our 316K We recycled 316,047 generation more e昀昀ectively and hazardous waste by 30% by 2030, tons of material intentionally, in 2020 we began compared to a 2022 baseline. TONS aggregating our enterprise-wide Using our new goal and waste and across our facilities, waste and recycling data, which recycling inventory, we will identify representing a waste historically had been handled at the and pursue new opportunities to site level. reduce waste generated at our sites. diversion rate of 92% 30
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES WASTE GENERATION AND RECYCLING, 2019-2022 WASTE GENERATED (US TON)1,2,3 2019 2020 2021 2022 HAZARDOUS WASTE REDUCTION Waste - General 13,934 12,029 9,567 17,936 IN JUAREZ, MEXICO Waste - Industrial 8,006 9,803 10,142 4,101 In 2022, our facility Waste - Universal 2,116 2,270 2,314 2,320 in Juarez, Mexico Waste - Hazardous 1,862 1,469 1,861 1,608 deployed new Waste - Wood 167 228 296 340 machinery that Total Waste Generation 26,084 25,798 24,181 26,306 reduces hazardous waste by evaporating Waste intensity per million dollars of 7 7 6 5 water content within sales (US ton/$M of net sales) the waste stream. WASTE RECYCLED (US TON)1,2,3 2019 2020 2021 2022 The new equipment Waste Recycled - Aluminum 2,913 2,701 1,854 11,256 has reduced Waste Recycled - Brass 1,349 1,213 1,012 1,023 hazardous waste by approximately 60 tons Waste Recycled - Bronze 0 0 178 159 per month, which in Waste Recycled - Copper 2,078 1,789 986 1,012 turn avoids burning the transport fuel associated Waste Recycled - Iron 300 419 292 903 with traveling 837 kilometers, roundtrip, between Waste Recycled - Lead 18 4 13 5 our facility and the 昀椀nal disposal site. This initiative Waste Recycled - Stainless Steel 310 259 415 382 also yields USD $5,000 in savings per month. Waste Recycled - Steel 179,763 204,212 338,621 295,920 Waste Recycled - Tin 227 76 24 215 Total Metals Recycled 186,959 210,674 343,395 310,875 Waste Recycled - Commingled 590 491 469 412 Waste Recycled - Industrial Waste 857 750 820 794 Waste Recycled - Universal Waste 4 3 72 40 Waste and Recycling Inventory Footnotes: 1. Hubbell reports all waste and recycling from our wholly owned companies’ leased and owned Waste Recycled - Hazardous Waste 138 572 93 211 manufacturing, warehouse, and o昀케ce facilities worldwide. The waste generated and recycled Waste Recycled - Cardboard 1,614 1,569 1,473 1,161 of consolidated joint operations are included pro rata, based on our 50% interest. Waste and recycling for select sites where Hubbell does not pay the service bill (i.e., primarily tenant- Waste Recycled - Paper 13 14 103 267 shared o昀케ce space) are excluded from the reported waste generated and recycled. Estimates are used where primary data is not available. Waste generated and waste recycled are reported Waste Recycled - E-waste 24 13 11 11 in US tons (ton). 2. Hubbell established a threshold for signi昀椀cance of 5% or greater in Hubbell’s total base-year Waste Recycled - Plastic 54 166 346 125 waste and recycling for the company’s rebaseline policy. While our new environmental goals Waste Recycled - Glass 0.78 0.78 0.75 0.75 reference a 2022 baseline, we applied this policy to our 2019-2021 historical data to help us track Hubbell’s environmental reduction progress over time. In October 2021, Hubbell initiated Waste Recycled - Wood 2,112 2,134 2,898 2,150 the sale of its Commercial and Industrial Lighting business, which was completed in 2022. This divestment triggered our rebaseline policy and our stated historical data re昀氀ects this. In Total Metals & Waste Recycled 192,367 216,386 349,680 316,047 addition, Hubbell grew its business with acquisitions in the second half of 2022 - PCX Holdings Total Waste Diversion Rate 88% 89% 94% 92% LLC, Ripley Tools, and REF Automation. These acquisitions did not trigger our rebaseline policy for historical data, however these sites are included in our inventory for 2022 onward. 3. Hazardous waste data represents waste deemed hazardous by region-speci昀椀c de昀椀nitions. 31
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES PURSUING CIRCULARITY As a manufacturing company, we recognize our role in supporting a more circular economy. electric, gas, and water meters were recycled in To that end, we aim to create solutions that 822 keep products and materials in use, design out 2022 via our smart meter recycling program waste and pollution, and regenerate natural THOUSAND systems. We view the circular economy as an opportunity to develop technologies and business models that are restorative and regenerative by design, with the added bene昀椀t of inspiring innovation and driving a more sustainable future. 2.32 pounds of scrap metal were recovered from the We are continuing meters we recycled in 2022 to explore ways MILLION to build upon our current practices in support of a more circular economy—starting with a focus on using recycled content, of our corrugated cardboard and wood reducing waste, and closing the 67% packaging, as well as other packaging supplies, materials loop. were made of recycled material in 2022 We utilize recycled materials rather than virgin content, such as recycled steel and cardboard, in our products and packaging where feasible. We also drive circularity through our smart of the steel, by weight, we purchased in 2022 came meter recycling program. Through this initiative, we replace and recycle our customers’ electric, from less environmentally impactful mills that use gas, and water meters when they are at their recycled material as their primary feedstock rather end of life. We intend to expand these e昀昀orts 50% in the future and identify new ways to innovate than virgin steel through circular economy models. 32
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES SOCIAL RESPONSIBILITY At Hubbell, we view social responsibility as a business imperative. Our electrical and utility solutions connect society, and we strive to support the people our business interacts with—from our employees to our communities and supply chain. 33
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES THE EMPLOYEE EXPERIENCE The talent and dedication of our employees enable Hubbell to deliver best-in-class products, solutions, and services for our customers around the world. We are committed to working together every day to cultivate an inclusive environment that o昀昀ers ful昀椀lling opportunities for our employees. We strive to attract and retain great people through MEXICO’S BEST EMPLOYERS 2022 purposeful roles, professional development, and wellbeing programs that create a rewarding employee experience. After all, our employees Hubbell was proud to be recognized by Forbes as one of Mexico’s create our success. Best Employers 2022 for creating a great place to work, with respect to working conditions, salary, talent development, and social responsibility, among other attributes. THE INCLUSIVE EMPLOYEE EXPERIENCE AT HUBBELL At Hubbell, we foster an employee experience that is centered around four focus areas: TALENT ATTRACTION ATTRACT ENGAGE Our strategic recruitment programs focus on attracting candidates with Seek out talent Create and maintain ways for diverse backgrounds and experiences and targets early-career, mid-level, everywhere employees to connect and and senior professionals. For example, our Campus Programs, including collaborate with each other our Summer Internship Program and Hubbell Rotation Program foster a pipeline of emerging young professionals for Hubbell. Our Campus Programs o昀昀er undergraduate, graduate, and early career professionals RETAIN ADVANCE the opportunity to explore various assignments, businesses, and locations across our enterprise. In 2022, we also enhanced our Hubbell Career Page Be an employer of Provide opportunities at with an interactive tool that makes it even easier for prospective candidates choice by focusing on all levels for employees to to 昀椀nd and apply for open positions that match their skills, experiences, the employee experience grow their skills and careers and preferences. 34
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES EMPLOYEE ENGAGEMENT Employee engagement sits at the heart of cultivating an environment where employees feel valued. As a global enterprise, we feel it is important to provide avenues for our employees to connect with each other. Every quarter, we hold town hall meetings so our employees can hear from our senior leadership and directly ask them questions. Our company intranet, called “Harvey,” also a昀昀ords our employees a platform to engage with and support one another across our enterprise. Through Harvey, our employees can receive business updates, engage in conversation via digital forums, recognize one another, and access company news and information. At the local level, monitors, posters, and team meetings help our employees stay informed. In 2022, we conducted our inaugural Elevate Employee Experience Survey to better capture and understand employee needs. Over 11,500 global hourly and salaried employees participated in the survey, demonstrating a best-in-class 昀椀rst year participation rate of 84%. Through the rollout of this survey, which will be launched annually moving forward, we achieved three major milestones: Raise Our Voice: We empowered our workforce to 1 participate in the survey 2Lift Our Culture: Hubbell shared enterprise, function, site, and team results with our colleagues ENGAGING AND CONNECTING THROUGH EMPLOYEE INCLUSION GROUPS Advance Our Company: We have action plans in Our Employee Inclusion Groups provide 3place at the enterprise, function, and site level an opportunity for employees with similar experiences to connect with using the feedback captured by our Elevate each other and engage in initiatives Employee Experience Survey and focused on the that are meaningful to them. Please see things that matter most to our employees page 41 to learn more. 35
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES BENEFITS AND WELLBEING We understand that our employees cannot MyHealth bring their whole and best selves to work if We o昀昀er a comprehensive level of resources, services, and plans for all healthcare needs they are not supported physically, mentally, including medical, dental, and vision coverage; Health Savings Accounts and Flexible and 昀椀nancially. To this end, promoting the Spending Accounts; and programs for diabetes, anxiety, sleep, and fertility planning. health and wellbeing of our employees and their families as they navigate their journey toward wellness is a top priority. Through our “myLife” MyPeaceofMind program, we provide We o昀昀er paid holidays, paid vacation days, paid comprehensive, competitive MyLife volunteer time o昀昀, 昀氀exible work arrangements, and several other bene昀椀ts to support the mental 1 Program wellbeing of our employees. Our insurance, bene昀椀ts that retain and disability, and accident coverage bene昀椀ts also support our employees in bring peace of mind to our employees when the following three areas: challenging or unexpected events occur. MyWealth We provide competitive 401(k) retirement plans, educational reimbursement, and tools and resources to help our employees build 昀椀nancial security. SUPPORTING MENTAL HEALTH Hubbell was honored to have won the 2022 Gold Bell Seal Award for Workplace Mental Health, from Mental Health America. This award is a 昀椀rst-of-its-kind workplace mental health certi昀椀cation that recognizes employers committed to cultivating supportive, mentally healthy spaces where employees can thrive. 1. Hubbell’s market-competitive bene昀椀t o昀昀erings vary by jurisdiction and in collectively bargained locations. 36
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES TRAINING AND DEVELOPMENT At Hubbell, we want to set our employees up for success. No matter where they are in their careers, we are HUBBELL’S GLOBAL RECHARGE DAY devoted to providing our employees with ways to In the Fall of 2022, Hubbell continuously grow on the job, or in the classroom, by providing the resources they need to enhance held an enterprise-wide Global their skills and knowledge. Within our businesses and teams, we provide education, training, and Recharge Day. On this day, Hubbell development opportunities so our employees can continue to advance as professionals. encouraged all employees to take a Our employees engage with day o昀昀 from work to relax, restore, Hubbell University to participate and recharge their mind and body, in online and instructor-led courses that support ongoing supporting workforce wellbeing. education and development across a multitude of focus areas. Topic areas span business acumen, leadership traits, functional skills, safety, cybersecurity, sustainability, inclusion, and compliance, allowing our employees to develop professional skills and knowledge they need to grow their career now and into the future. For example, we rolled out a sustainability and ESG-focused TUITION REIMBURSEMENT training course to all employees in 2022 to increase employee awareness about Hubbell’s ESG 82,193+ Hubbell supports employees commitment, strategy, and program. By the end of who pursue education outside 2022, over 82,193 learning hours were completed by learning hours were delivered of work. Hubbell provides up to employees globally through Hubbell University and globally through Hubbell external training providers. $8,000 in education assistance University in 2022 per year per eligible employee. 37
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES EMPLOYEE ADVANCEMENT When it comes to professional development, we recognize the value of continued education and training to support career advancement. In 2022, we added to our development programs as part of our commitment to continually look for ways to help our next generation of leaders advance their careers and teams at Hubbell. • Supervisor Essentials: This new multi-month learning program is comprised of in-person training, virtual learning, coaching, mentoring, and check-ins to empower professionals to be strong and e昀昀ective supervisors. • Improving Business Acumen: This multi-day learning program involves a fast-paced, intensive business simulation to help individuals gain 昀椀rsthand experience in developing business strategies, engaging with customers, evaluating the competitive landscape, and making critical business decisions. • Leadership Forum: This multi-month intensive development program supports professional growth through coaching, training, and project-based work for high potential executive employees. SALES SUSTAINABILITY TRAINING In 2022, we launched a new training focused on Hubbell’s Products with Impact for our global sales team. The aim of this training was to educate our sales colleagues about the sustainable value proposition of our products and in turn, empower our colleagues to engage with our customers about the ways our solutions We also believe that employees should be recognized, celebrated, and compensated for giving enable sustainable outcomes. their best and ensuring the success of the company. We provide market competitive compensation programs and reward high performers through our “WIN AS ONE” program, which celebrates employees via peer-to-peer written praise and emblematic awards. 38
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES INCLUSION, DIVERSITY, 45% AND EQUITY RACIALLY/ETHNICALLY DIVERSE EMPLOYEES (US)1 1 As a global enterprise with 16,323 employees, we prioritize cultivating an inclusive culture. 32% From the facility 昀氀oor to our conference rooms, we want our teammates to feel valued for the unique experiences, backgrounds, and contributions they bring GLOBAL FEMALE EMPLOYEES1 to work every day. To promote inclusion, diversity, and equity (IDE) across our company, we developed a cultural awareness campaign, I am Hubbell. This re昀氀ects our dedication to leading with inclusion, which sits at the core of our employee experience and informs our employee engagement and wellbeing initiatives. 33% BOARD OF DIRECTORS DIVERSITY FOSTERING INCLUSION 1 (FEMALE & RACE/ETHNICITY) As an extension of Hubbell’s employee experience focus areas—Attract, Engage, Retain, Advance—we established four Inclusion Pillars to actualize IDE throughout our company. Our Inclusion Pillars center our e昀昀orts to foster an inclusive culture and diverse organization by embedding IDE within the entire employee experience. Hubbell's Inclusion Pillars BUSINESS RESULTS INCLUSIVE CULTURES INCLUSIVE TEAMS EMPLOYEE EXPERIENCE ENGAGE & RETAIN ENGAGE & ADVANCE ATTRACT & ENGAGE ENGAGE & ADVANCE Increase understanding Expand capability of Bring employee population Pursue a high level of of leaders on bene昀椀ts of leaders to build inclusive of underrepresented groups employee engagement diversity to business results environments for their teams to industry levels and above across the enterprise 1. As of December 31, 2022. 39
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES FOCUSING OUR EFFORTS PARADIGM FOR PARITY PLEDGE TOP DIVERSITY As a company with a global presence, we are dedicated to building Hubbell signed the EMPLOYER RECOGNITION an inclusive culture and ensuring that our workforce re昀氀ects the Paradigm for Parity In 2022, we were communities where we live and work. We recognize that there pledge to accelerate recognized as a are always opportunities to grow and improve, and we view our gender equality and address the leadership Top Diversity Inclusion Pillars as a lever to enact meaningful change throughout gender gap in the US. The Paradigm for Parity Employer by our company. During 2022, we continued to focus our IDE e昀昀orts pledge aims for its coalition of 140+ companies, DiversityJobs, across all four of Hubbell’s Inclusion Pillars, spanning our hiring that represent over 6.5 million workers across re昀氀ecting our dedication to practices, community engagement, and employee training. These 28 countries, to achieve gender parity building a diverse workforce programs and initiatives included, but were not limited to: throughout corporate leadership by 2030. and inclusive culture. BUSINESS RESULTS • Delivering webinars, training, and other resources in key focus areas to promote inclusion and diversity education. • Providing tools, resources, and training to people leaders and supervisors to equip them to be inclusive leaders and strengthen IDE in the workplace. INCLUSIVE CULTURES • Collaborating with diversity partners including • Implementing initiatives that improve diverse Employer Support of the Guard & Reserves, representation at the people-leader level and above. Military.com, Society of Women Engineers, • Ensuring equal employment opportunity, INCLUSIVE TEAMS National Society of Black Engineers, National practicing equitable hiring practices, and building Urban League, Prospanica, and Historically diverse interview teams to advance diversity and Black Colleges & Universities to recruit equity during the recruitment process. diverse talent. EMPLOYEE EXPERIENCE • Partnering with diverse organizations and • Supporting our Employee Inclusion Groups that engaging in events in the community to help drive an inclusive culture at our company. promote inclusion within our business and • Measuring our culture of inclusion through out in the communities where we live. Hubbell's Elevate Employee Experience Survey. 40
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES EMPLOYEE INCLUSION GROUPS Our Employee Inclusion Groups (EIGs) are a connection point for our colleagues who have similar life experiences to come together and share perspectives, engage in personal and professional development, participate in community service, and lead purpose-driven projects. Although each EIG has its own speci昀椀c mission, they all deliver our Inclusion Pillars and employee experience. We are proud of our EIGs and aim to support them as they pursue events, programs, and initiatives that promote a culture of inclusion and belonging. Women Advancing Their Careers at Hubbell (WATCH) strives to inspire the women of Hubbell to pursue their personal and professional goals, surpass their own expectations, and support WOMEN ADVANCING THEIR CAREERS AT HUBBELL other women within the network. MultiCultural Men (MCM) focuses on fostering appreciation for inclusion and multiculturalism while empowering men of color through training, mentoring, and networking opportunities that enhance personal development and leadership growth. For example, on June 19, 2022, MCM hosted virtual and on-site events DRIVING PROFESSIONAL GROWTH to celebrate Juneteenth and empower employees to be agents of change in the workplace. THROUGH MENTORSHIP 2022 marked the third year MCM and WATCH Veterans Engaged To Succeed (VETS) is open to all employees partnered to deliver Hubbell’s mentoring with previous military experience or employees who have a program, MATCH. This program, which connection to the military, such as military spouses or families. originated as the WATCH Mentoring Program VETS aims to create a supportive community, encourages but expanded through MCM’s network, matches advancement and personal growth, and pursues recruiting e昀昀orts mentees with mentors based on the areas where for individuals with similar experiences. each individual would like to grow. With more than 30 sets of mentor-mentee pairs matched in 2022, the collaboration between our two EIGs has sparked notable growth for the program. Hubbell Pride welcomes members and allies of the LGBTQ+ community. Hubbell Pride focuses on building enterprise-wide awareness of LGBTQ+ issues, promotes inclusion and diversity, and provides a safe space for employees, allies, and anyone seeking support. 41
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES INCLUSION, DIVERSITY, AND EQUITY TRAINING We feel it is important for leaders at all levels of our organization to champion IDE and enhance our employee experience. Through strong, inclusive leadership, employees at the people-leader level and above can serve as role models RESPECTING FAIR LABOR AND HUMAN RIGHTS and encourage their teams to value, appreciate, and support the diverse perspectives and experiences of their colleagues. As part of our e昀昀ort to Hubbell is committed to supporting the fundamental strengthen our culture of IDE, our employees in management roles participate human rights of our employees. Our Global Human in our Learning to Lead Inclusively training. This training focuses on helping Rights Policy and Code of Business Conduct and Ethics leaders develop critical skills and behaviors that can foster sense of belonging set the expectations for our employment practices to within their teams. Our Supervisor Essentials employee development program safeguard the principles of freely chosen employment, also includes a component focused on IDE. The Moving From Bias to Inclusion non-discrimination, the elimination of forced and in the IDE Journey training module within the program covers essential skills underage labor, and the rights of workers to organize that help leaders transform their biases into inclusive leadership capabilities. and freely associate. In keeping with this commitment, we employ both unionized and nonunionized workers, with 18% of our US workforce under collective bargaining agreements in 2022. In addition, we remain focused on ensuring fair treatment, access, and opportunity for our employees. As outlined by our Equal Employment Opportunity Policy, we are committed to providing equal opportunity to all persons without regard to race, color, sex, gender, gender identity, gender expression, sexual orientation, religious creed, national origin, age, physical disability, mental disability, medical condition, pregnancy, genetic information, ancestry, marital status, veteran status, political a昀케liation, union membership or other bases protected by applicable federal, state, or local law. We also review our remuneration practices regularly to ensure pay equity at all levels. Moreover, we respect and value our employees regardless of their life stage. To that end, we o昀昀er parental leave bene昀椀ts for eligible employees seeking to expand their families, as outlined in our Parental Leave Policy. 42
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES EMPLOYEE HEALTH AND SAFETY LOCKOUT TAGOUT PROGRAM We recognize that minimizing hazards We recognize that employee safety is and risks in our operations is crucial to indispensable to the physical health workplace safety. In 2022, we expanded our Lockout Tagout (LOTO) training and mental wellness of our workers. to strengthen awareness around the importance of shutting down equipment Ensuring the health and safety of our and making it completely inoperable before employees enables our people to live employees conduct maintenance and repair to their fullest potential, both inside activities. Coupled with our EHS policies and outside of the workplace. As a and procedures, our LOTO program and company, we are dedicated to training has been instrumental to reducing continuously pursuing and improving the safety hazards facing our workers. programs, processes, and resources that cultivate a safe and healthy work environment in our facilities around the world. EMPLOYEE, HEALTH, AND SAFETY MANAGEMENT Performing job hazard Implementing engineering analysis before the and administrative controls Hubbell’s environmental, health, and safety (EHS) procedures commencement of any job to identify and mitigate and management systems have been strategically developed or activity potential hazards and to promote employee health, safety, and wellbeing in the establish emergency workplace. They establish our standards of health and safety Instituting EHS roles and response management, reinforcing compliance and ingraining a culture responsibilities, organizing of “Always Think Safety” across our enterprise. training and awareness- Executing a job rotation During 2022, we remained abreast of evolving regulations, raising, and creating audit schedule to prevent the and in response, updated several policies, protocols, and procedures incidence of ergonomic- programs to maintain consistency with EHS regulatory related injuries and Hubbell requirements. To that end, our Environmental Conducting regular site and Management System, EHS Policy, and EHS Instruction Manual occupational risk assessments outline our expectations for our sites and guidance for safety to evaluate potential risk procedures and EHS programming, including, but not limited exposure to respiratory, to, the following elements: hearing, and chemical hazards 43
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES FOSTERING A CULTURE OF “ALWAYS THINK SAFETY” We strive to nurture a culture of “Always Think Safety” that puts safety at the front and center of ALWAYS our work. Even before stepping foot onto the facility 昀氀oor, our employees are trained on occupational health and safety principles and work procedures that are speci昀椀c to their role and responsibilities. THINK Employee training is integral to our culture because it fosters safety awareness and knowledge, and our behavioral campaigns, such as “Stop and Think,” also hone a safety-oriented mindset in the SAFETY workplace. In 2022, we improved our employee training by formalizing an EHS Training Curriculum consisting of educational content with timeline requirements. This enterprise-wide curriculum uni昀椀ed our approach to EHS-related training, facilitating the delivery of a high-quality educational experience for each of our employees. Through this new program, employees received an average of 2.5 hours of EHS training. Even before stepping foot onto the facility 昀氀oor, our employees are trained on occupational health and safety principles. 44
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES EHS OVERSIGHT AND COMPLIANCE Across our global operations, we remain important role in promoting safety for focused on continuously improving three reasons: they bolster the visibility safety at our facilities. To that end, in of our site managers, demonstrate the 2022, Hubbell began to measure the value of safety to employees, and provide completion of safety walks, which entail an opportunity for site managers to a comprehensive walkthrough of an receive direct feedback on employees' operating facility. Since safety walks safety concerns. require our site managers to engage with workers on the facility 昀氀oor, they play an In addition to managerial oversight at the site level, Hubbell’s EHS Council conducts routine safety and compliance audits to advance safety improvements. SAFETY RECOGNITION IN OUR Throughout the year, we visit our sites to JUAREZ, MEXICO FACILITY review safety performance and progress, Our Hubbell site in Juarez, Mexico received assess compliance with regulations and the Jaime Bermudez Cuaron Award from the requirements, and identify opportunities Juarez chapter of INDEX, an association of the to eliminate EHS-related risks and manufacturing enterprises in Mexico, for their hazards. Work conducted by our EHS safety and sustainability program in 2022. This Council is further supported by third- award recognizes Hubbell’s facility in Juarez, out party consultants who perform safety gap 1 assessments, risk evaluations, and analyses of more than 300 maquiladoras in the city, for of emerging or changing EHS regulations. demonstrating excellence and leadership in two Together, the information compiled by categories: Corporate Social Responsibility and our internal and external experts equip Environmental Health and Safety. our EHS team with useful knowledge and 1. Maquiladora denotes a US factory located in Mexico. resources that ultimately improve safety and compliance in the workplace. Site managers are required to perform safety walks weekly as part of a normal rhythm for evaluating EHS performance. 45
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES HEALTH AND SAFETY PROGRESS AND PERFORMANCE We are cognizant that measuring EHS The following three sites performance is fundamental to understanding the status of the safety and health of our received our 2022 Annual operations. Using an EHS Assessment Tool, we measure the implementation of our safety and Safety Award: health programs and evaluate overall safety culture. In 2022, we expanded the impact of our EHS Assessment Tool by deploying a comprehensive EHS data management software solution. Our new data management LARGE SITE: HES software enables us to track EHS reviews, metrics, and other key performance indicators ARCHDALE, NC at the site level for our global facilities. This solution also includes reporting capabilities spanning injury and incident tracking, job hazard analyses, and corrective management— ultimately streamlining our EHS performance measurement and enabling us to unlock helpful SMALL SITE: HUS insights into the health and safety activities of our sites. WINSTED, CT We also recognize sites that champion our company’s value of safety through Hubbell’s Annual Safety Award. The Annual Safety Award comprises three competition categories: MOST IMPROVED SITE: HUS small site, large site, and most improved site. Our large site and small site winners are BROKEN honored for their strong health and safety performance, as well as their ability to drive a ARROW, OK safety-oriented culture throughout their facility. Our most improved site winner recognizes sites that demonstrate an outstanding improvement in their safety practices and procedures. As a company, we view the sites we award to be leaders that elevate health and safety best practices across our enterprise. 46
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES ENGAGING WITH OUR COMMUNITIES When we evaluate all of THE HUBBELL FOUNDATION – Hubbell’s opportunities to A VEHICLE FOR SOCIAL GOOD drive meaningful impact, we For more than 昀椀fty years, The Hubbell Foundation has played a big role in driving challenge ourselves to look our community impact e昀昀orts. The Hubbell beyond the walls of our own Foundation collaborates with organizations to donate to mission-aligned, US-based company to consider the nonpro昀椀t organizations that support a variety of causes, including health, food OVER communities within which and housing insecurity, education, social we operate. and racial justice, and disaster relief. For example, The Hubbell Foundation and $1,200,000 Hubbell employees donated over $100,000 We aspire to nurture thoughtful relationships to UNICEF in 2022 to help children and DONATED BY THE HUBBELL FOUNDATION with the local communities that support families impacted by the war in Ukraine. The TO CHARITABLE ORGANIZATIONS IN 2022 us and pursue corporate citizenship Hubbell Foundation is also committed to through community engagement and advancing science, technology, engineering, philanthropic activities. Through The Hubbell and math (STEM) programs, since STEM is Foundation and our passionate employees, fundamental to the success of our industry. Hubbell’s people volunteer their time and gift generous donations to promote the The Hubbell Foundation’s philanthropic wellbeing of our society. giving campaigns are formalized through national nonpro昀椀t partners, including Habitat for Humanity, One Tree Planted, and the National Urban League. Complementing 168+ their work with national nonpro昀椀t partners, The Hubbell Foundation also supports additional nonpro昀椀t organizations through CHARITIES its employee donation and matching gifts campaign, scholarship fund program, WERE SUPPORTED THROUGH "Hubbell Helping Hands" Month of Giving DONATIONS OR and volunteering campaign, and educational VOLUNTEERISM IN 2022 giving program which provides donations to 昀椀ve universities. 47
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES SUPPORTING THE HUBBELL FOUNDATION’S NATIONAL PARTNERS IN 2022 Habitat for Humanity National Urban League One Tree Planted The Hubbell Foundation donated to The Hubbell Foundation sponsored The Hubbell Foundation partnered Habitat for Humanity chapters across The National Urban League's Youth with One Tree Planted, a non-pro昀椀t the country to support new builds of Leadership Summit held at the University organization dedicated to global homes, parks, storage units, playhouses, of Maryland's College Park campus. The reforestation, to plant 100,000 trees and other community gathering spaces, four-day summit, called Save The Planet, in the US near one of Hubbell’s Illinois- as well as neighborhood cleanups Preserve Our Future, focused on global based facilities. This reforestation and home repairs. For example, our climate challenges and encouraged more project translated to planting charitable donation helped 昀椀nance a than 300 high-school-age students from approximately six trees for every build in Greenville, South Carolina’s across the US to be agents for change in Hubbell employee, and the initiative Nicholtown community that transformed their communities. restored 155 hectares of land where over 3.6-acres of land into a new park that will 100 local wildlife species bene昀椀ted. provide residents and children a place to visit, rest, walk, play, and enjoy. 48
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GIVING BACK THROUGH EMPLOYEE VOLUNTEERISM We believe community involvement should not be limited to charitable giving. With this in mind, we encourage our employees to champion our impact e昀昀orts and expand our reach by directly engaging with causes that matter to them in their local communities. To support employee SUPPORTING COMMUNITIES volunteerism, Hubbell’s Volunteer Paid Time O昀昀 Policy AFFECTED BY NATURAL DISASTERS permits US employees to use one paid workday annually to volunteer. The Hubbell Foundation's "Dollars for Doers" In 2022, The Hubbell Foundation donated campaign also maximizes the social impact of employee $50,000 in relief aid to support volunteerism by donating funds to eligible nonpro昀椀ts for communities directly impacted by which employees have volunteered their time. Hurricane Fiona and Ian. Our contribution Over the past year, our employees have participated in helped the American Red Cross deliver food drives, built homes, packed school supplies, and meals, relief items, overnight stays, and engaged in a variety of other volunteer activities. Looking 昀椀nancial assistance and recovery services back on 2022, we are grateful for our employees who to a昀昀ected community members. volunteered and leveraged their unique expertise, skills, and experience to make a deep, personal footprint in their communities. “GIVING THANKS” THROUGH HUBBELL HELPING HANDS 1 With 16,323 employees, we feel it is essential to harness the power and connections of our employee base to spur positive social change. In the Fall of 2022, we encouraged our employees to give back to their communities through volunteering and service. As an o昀昀shoot of our Hubbell Helping Hands month of giving campaign in previous years, we designated November of 2022 as our enterprise-wide “Month of Giving Thanks.” During this campaign, Hubbell employees across our enterprise took the theme of giving thanks to heart by participating in volunteer events and activities that bene昀椀ted their local communities. Many of our sites in the US focused on addressing food insecurity by collecting and donating food and essential items, as well as packing meals that were delivered to the community. Across Mexico, teams spent time in retirement homes, donated jackets for children, and cleaned up waste from a national park. We are proud of the positive social impact our employees achieved through our Month of Giving Thanks. 1. As of December 31, 2022. 49
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES SUPPLY CHAIN RESPONSIBILITY Our suppliers are As a company, we recognize that our suppliers play an important expected to follow role in our success. At the same time, we view addressing human the principles outlined rights and other critical issues in our supply chain as both a business in our Third-Party imperative and a sustainability priority. We are committed to Code of Business responsible sourcing and managing ESG-related risks throughout Third-Party Code Conduct and Ethics our supply chain. To that end, we strive to conduct business with of Business and to apply these suppliers who share our commitment to high ethical standards and Conduct and Ethics or similar principles who operate in a socially responsible manner. to the suppliers that they work with as they provide goods and services to Hubbell. SUPPLY CHAIN OVERSIGHT Hubbell’s supply chain activities are managed by a team of seasoned professionals who oversee our suppliers and vendors, with support from functional managers at each of our business units. Our global supply chain and sourcing teams have expertise in procurement, HUBBELL’S THIRD-PARTY CODE supply management, operations management, logistics, and supply chain performance optimization. Using comprehensive supply chain Our Third-Party Code of Business Conduct and Ethics (Third-Party systems tools and technology, these teams optimize Hubbell’s globally Code) is the foundation of our responsible sourcing practices. As diverse supply base for an extension of Hubbell’s Code of Business Conduct and Ethics, our quality, cost, delivery, and Third-Party Code establishes our expectations regarding workplace responsibility. Our broader standards and business practices for our suppliers. The Third-Party legal organization also Code mandates that our suppliers comply with the law and conduct works closely with our business in an ethical, legal, and responsible manner—including sourcing teams to manage with respect to anti-bribery and anti-corruption, trade compliance, potential risks in the supply con昀氀ict minerals, labor and human rights, environmental stewardship, chain and ensure Hubbell data privacy, safety, and non-discrimination, among other topics. It remains compliant with also provides information for our third parties to report questions local laws and regulations. or concerns through our “Speak Up Today” program. To learn more about Speak Up Today, see page 59. 50
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES SUPPLIER SCREENING AND MONITORING Our supply chain responsibility e昀昀orts are The screening and auditing procedure of our We also audit international suppliers we work reinforced by a due diligence approach that third-party due diligence process enables us to with both onsite and virtually to assess potential is designed to drive accountability and proactively manage potential ESG-related quality, security, human rights, and environmental results. We focus on establishing risks in our supply chain. Prior to any issues or compliance risks. For example, our strong policies and management transaction, we preemptively screen audits may evaluate health or environmental systems, screen and audit potential counterparties, including permit status and fair treatment of workers. As suppliers, assess and manage risks suppliers, vendors, customers, part of our audit process in 2022, we reviewed in the supply chain, track due distributors, agents, consultants, our third parties and certi昀椀ed that our suppliers diligence activities, and engage and other business partners of do not use forced labor or supply from regions with our suppliers to strengthen the company, for corporate social that are at higher risk for human rights violations. partnerships. All of these responsibility areas of concern. These Ultimately, our goal is to ensure that all Hubbell initiatives are complemented by our areas cover topics spanning criminal partners share our commitment to conducting Third-Party Code, which reinforces activity, sanctions, embargoes, and watch business with a focus on ethics, integrity, expectations for our suppliers. lists, as well as human rights and export controls. sustainability, and social responsibility. SUPPLY CHAIN DUE DILIGENCE APPROACH GOVERN VERIFY ASSESS RESPOND REPORT ENGAGE Establish Screen Identify, Develop and Track Engage with strong suppliers and assess, and implement and report suppliers to policies and audit supply measure strategies to supply strengthen management chain for risks in the respond to chain due- partnerships systems risks supply chain risks diligence and results activities Expectations for suppliers are continuously reinforced by Hubbell’s Third-Party Code of Business Conduct and Ethics 51
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES RESPECTING HUMAN RIGHTS IN OUR VALUE CHAIN Respecting human rights throughout our company, operations, supply chain, and communities is important to our business. We are committed to complying with applicable labor laws, and we expect our business partners to do the same. We are also dedicated to trying to maintain commercial operations and a supply chain free of human rights violations, and we strictly prohibit all forms of involuntary labor, child labor, bonded labor, and human tra昀케cking in our business dealings. In addition to adhering to our Third-Party Code, our Global Human Rights Policy, which is based on the UN Guiding Principles on Business and Human Rights, as well as our Con昀氀ict Minerals Policy, California Transparency Act Disclosure, vendor onboarding procedures, and contract and purchase order terms, establish the standards and expectations for our suppliers regarding human rights- related issues and ethical conduct. We also conduct due diligence with respect to the sourcing of con昀氀ict minerals and report annually on our potential use of con昀氀ict minerals and origin of such minerals. 52
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES SUPPLIER DIVERSITY We understand that success comes from diverse perspectives, and we value diversity and inclusion in all aspects of business. A key part of our commitment to inclusion, diversity, and equity is supplier diversity and the development of and engagement with certi昀椀ed ethnically/racially diverse-owned, woman-owned, historically underutilized businesses, veteran-owned, and service- disabled veteran-owned businesses that can provide quality goods and services in a timely and competitive manner. To drive our e昀昀orts in this area, we established a cross-functional Supplier Diversity Council to integrate supplier diversity into our strategic sourcing and procurement. Through the Supplier Diversity Council, Hubbell engages and tracks spend with our small and diverse suppliers and integrates supplier diversity considerations into our strategic sourcing decisions. We also partner with organizations, such as the National Minority Supplier Development Council, to access quali昀椀ed and certi昀椀ed diverse 昀椀rms that can provide quality goods and services for our business. We estimate our 2022 diverse supplier 1 spend to be 8.5% of our total US procurement spend. Hubbell is a member of the National Minority Supplier Development Council (NMSDC) and We estimate our 2022 diverse engages with the Carolinas-Virginia Minority Supplier Development Council (CVMSDC). Our supplier spend to be 8.5% of our engagement with NMSDC and CVMSDC help us access quali昀椀ed and certi昀椀ed diverse 昀椀rms in 1 advance of potential or actual projects. total US procurement spend. 1. As of December 31, 2022. This estimation is subject to the self-identi昀椀cation indicators provided by our suppliers. 53
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GOVERNANCE AND ACCOUNTABILITY Being a trusted partner to our customers, investors, and other stakeholders is critical to our business. To gain that trust, we establish and maintain strong governance practices that reinforce risk excellence and foster a culture of ethics and integrity. 54
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES RISK EXCELLENCE At Hubbell, we are committed to the highest standards OUR BOARD AT A GLANCE of risk, ethics, and oversight. 89% 33% We consider every one of our employees to be a custodian of our reputation and to act in alignment with our values in everything they do. Simultaneously, we believe success is driven, OF OUR DIRECTORS OF DIRECTORS HAVE to a strong degree, by e昀昀ective governance and prudent risk management. As a result, we are ARE INDEPENDENT1 SERVED FOR THREE dedicated to building and maintaining strong governance structures, policies, and procedures 1 that help us achieve risk excellence and business resilience. YEARS OR LESS BOARD OVERSIGHT 33% 56% Hubbell’s commitment to e昀昀ective governance Our Directors are elected annually by our begins with our Board of Directors. Our Board, shareholders and hold o昀케ce for one-year OF DIRECTORS ARE OF DIRECTORS HAVE which meets regularly throughout the year, is terms. To date, Hubbell’s Board has nine DIVERSE IN TERMS OF SERVED FOR TEN entrusted with the highest level of oversight members, including Gerben Bakker, Hubbell’s GENDER OR RACE/ YEARS OR LESS1 of our company’s strategy, performance, and Chairman, President and CEO. Our Board ETHNICITY1 enterprise risks. Hubbell’s Board of Directors consists of 昀椀ve standing committees: the is guided by our Audit Committee, Corporate Governance the Compensation Guidelines, Committee Committee, the Charters, and Code of Finance Committee, Business Conduct and the Nominating and Ethics. Together, these Corporate Governance Hubbell was named one of frameworks establish Committee, and the America’s Most Responsible sound governance Executive Committee. Companies for 2023 by policies and procedures All Board committees, Newsweek. The annual to assist the Board in the except the Executive recognition, acknowledging the exercise of its responsibilities. Our Board takes Committee, consist entirely of independent top 500 most responsible their role as stewards of corporate governance Directors. More information about the Board’s companies in the US, is seriously. As such, they remain focused on role in the company and leadership structure, awarded to companies that oversight and execution of the company’s the Director nomination and election process, have demonstrated corporate responsibility and strategic plans to generate long term value and compensation practices, can be found in ESG excellence. for our company, shareholders, and other our 2022 Annual Report and Proxy Statement important stakeholders. available on Hubbell’s website. 1. As of March 1, 2023. 55
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES SUSTAINABILITY GOVERNANCE KEY ESG FOCUS AREAS To oversee and drive progress toward our sustainability commitments, we established BOARD OF General Risk and Program Oversight sound governance structures. At Hubbell, DIRECTORS • Provides overall risk oversight for the company ESG oversight starts at the Board level. 9 Directors, 8 • Reviews key business, functional, and ESG risks Our Corporate Governance Guidelines of whom are and the Charter of the Nominating and independent • Receives periodic updates on social, environmental, and Corporate Governance Committee (NCGC) sustainability matters formalizes oversight of the company’s ESG programs and goals as part of the Board’s responsibilities. As one of our 昀椀ve standing NOMINATING Oversight of ESG Program committees, our NCGC is charged with AND CORPORATE speci昀椀c oversight of ESG matters, including GOVERNANCE • Oversees ESG strategy the management of climate- or sustainability- COMMITTEE • Reviews ESG risks, practices, policies, and programs related risks and opportunities. 5 Directors, all • Evaluates progress on ESG performance and goals of whom are • Supports management of ESG-related risks and opportunities At the executive level our ESG independent Steering Committee (ESG Committee) manages our sustainability programs. The ESG ESG STEERING Management of ESG Program Committee, which is comprised COMMITTEE of senior leaders, is responsible • Devises ESG strategy, ensuring alignment with for devising, executing, and monitoring our Senior leaders, including overarching business objectives ESG strategy, goals, initiatives, and reporting. our Senior Vice President, • Directs ESG programs, initiatives, and target-setting To drive informed decision-making across the General Counsel and • Reports ESG initiatives to the Board company, they also engage with leadership on Secretary and Chief ESG-related matters. Throughout the year, they Compliance O昀케cer • Manages ESG-related risks and opportunities report Hubbell’s ESG goals, performance, and challenges to the Board, NCGC, and senior leadership on a regular basis. Directly below Execution of ESG Program the ESG Committee, we also developed and • Collaborates with cross-functional teams to 昀椀lled new sustainability-focused positions in SUSTAINABILITY implement ESG strategy 2022 to assist with the management of our & ESG TEAM ESG data, initiatives, and programs. The • Spearheads internal and external reporting, expansion of this team demonstrates our Global, dedicated team including data management and stakeholder ongoing commitment to invest in our ESG engagement program and improve of our performance. • Drives initiatives and performance 56
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES ESG PERFORMANCE INCENTIVE FOCUSING ON BUSINESS RESILIENCE Hubbell’s Chairman, President and CEO’s Across our company, we remain annual Short Term Incentive (STI) award focused on business resilience. has a component (of 20%) based on Through our ERM and regular performance on strategic initiatives and business continuity planning, we critical priorities, including diversity, equity, engage in a thoughtful approach to inclusion, sustainability/ESG, and safety. addressing potential risks that could Similarly, ESG performance impacts the 昀椀nancially impact our company. STI of all salaried, applicable employees. For example, we conduct strategic planning for our Sustainability is an established priority facilities to ensure business continuity in our operations in Hubbell’s enterprise-wide business regardless of potential risks such as natural disasters strategy, and the company’s performance and pandemics. We also work with a diverse supply directly in昀氀uences the annual STI allocated base to avoid potential disruptions or risks that could to employees. impact our ability to deliver our products to customers. RISK MANAGEMENT Hubbell’s Board of Directors serve as our main As part of our risk management processes, we vehicle for overall risk oversight. During Board conduct an Enterprise Risk Management (ERM) meetings throughout the year, our Directors analysis to assess the risks and opportunities review the company’s risk pro昀椀le and evaluate that may have a material impact on our company. key business and functional risk areas, spanning Our ERM procedure focuses on identifying, cybersecurity, operational planning, human prioritizing, and mitigating risk exposures to the Day in and day capital management, ESG, compliance, and company on an ongoing basis. At the strategic culture. Our Chairman, President and CEO level, our ERM enables Hubbell to integrate risk and senior leadership are also responsible management activities into our business strategy out, we proactively for assisting the Board with risk oversight. and operations by establishing mitigation plans, Through regular discussions with the Board, with assigned risk owners, that can be executed engage in risk our leadership team helps our Directors review by the business. In relation to ESG- and climate- and address the company’s strategic planning related risks, our ERM program drives our management activities, risks relevant to the execution of our processes for examining all relevant ESG risks, strategy, measures in place to address these including physical and transition risks associated processes. risks, and the e昀昀ectiveness of these measures. with the shift to a low-carbon economy. 57
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES BUSINESS ETHICS ENSURING COMPLIANCE Our ethics and compliance program is underpinned by AND INTEGRITY our Code of Business Conduct and Ethics (the Code). The Code provides a framework for ethical and honest behavior that uni昀椀es our employees under the same As a business, we are dedicated to upholding values, principles, and expectations. As a guide, it sets high standards of ethics grounded in the standards for how our employees conduct business and interact with stakeholders and each other, covering values of integrity, transparency, and fairness areas such as con昀氀icts of interest, and believe maintaining these standards is bribery and corruption, records management, and discrimination the responsibility of everyone at Hubbell. and harassment in the workplace. All employees and directors are expected Through the implementation of policies, governance, training, and to comply with the tenets of the reporting mechanisms, we cultivate an ethical culture across all Code, and we hold our third-party levels of our business that drives forward ethical business conduct business partners accountable to and compliance with the law. adhere to these same tenets. We also require our employees to read and certify to the Code after the new hire onboarding process and re-certify to the Code on an annual basis. Hubbell has been We are devoted to maintaining recognized as one of our ethical standards and ensuring the 2023 World’s Most compliance across our company. Our team of compliance professionals, Ethical Companies by led by our Chief Compliance O昀케cer Ethisphere. This is the (CCO), is responsible for monitoring and evaluating compliance matters. third year our company has received Throughout the year, our Internal this honor, re昀氀ecting our ongoing Audit group regularly conducts over 40 compliance-related audits commitment to operating with integrity and reports any ethical matters or concerns to the Compliance Review Committee. Our CCO also provides updates to our Board’s and upholding high standards of ethical Audit Committee on a range of compliance-related matters, including business conduct. the results of internal audit activities, our performance compared to benchmarking trends, the results of our annual ERM assessment, and Code of Conduct awareness initiatives. 58
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES PRACTICING TRANSPARENCY At Hubbell, sharing information openly and Our employees and directly with the highest level of integrity is business partners a key component of practicing ethical can raise concerns business conduct. anonymously through the service Speak Up Today. Speak Up Today is a service We understand that being transparent about our business practices is managed by an independent third-party foundational to earning and keeping the trust of our customers, suppliers, that is available to employees, customers, employees, investors, and business partners we work with. To that end, we strive to share credible and decision-useful information through vendors, or any other third party 24 hours a stakeholder outreach and engagement, annual disclosures such as this day, seven days a week. The service is Sustainability Report, and responses to customer queries to ensure our available in multiple languages and is stakeholders have a clear understanding our company’s goals, strategy, tactics, and business operations. accessible via the web (www.speakuptoday. com), email, and phone through toll-free telephone numbers in 16 countries. ETHICS AND COMPLIANCE TRAINING Fostering and maintaining an ethical culture hinges on the engagement of our employees. With this in mind, we require our employees to REPORTING CONCERNS complete monthly trainings that address Hubbell’s values, culture, and commitment to Across our global enterprise, we aim to foster a culture where employees ethical excellence. Our ethics and compliance feel comfortable and empowered to speak up. When employees suspect trainings, which are regularly reviewed and refreshed according that an action may be in violation of the Code or other relevant laws to the results of our compliance risks assessments, cover or regulations, they are expected to raise their concerns immediately. themes spanning data privacy and security, sustainability, Depending on their comfort level, they can report the matter to their bribery, and corruption. Our compliance training program helps direct supervisors, their local human resources partners, a member of our employees understand and adhere to the Code and any Hubbell’s legal team, or anonymously through Hubbell’s “Speak Up Today” relevant laws, regulations, or policies. service. Our team takes potential incidents of misconduct seriously and will investigate and address each report promptly in accordance with our compliance procedures. 59
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES DATA PRIVACY AND CYBERSECURITY Safeguarding data and protecting our business Beyond cybersecurity, we also view protecting data landscape by implementing data privacy against cybersecurity risks are critical priorities for our stakeholders’ data as a way of demonstrating measures, establishing policies, overseeing data our company. Every day, our customers, business our commitment to operating with integrity management on a regular basis, and ensuring partners, and employees entrust us with their data and discipline. Privacy controls and processes compliance with evolving industry and regulatory and information. To maintain our stakeholders’ are operationalized across our entire enterprise requirements. In 2022, we focused on maturing trust, we work diligently to responsibly manage to manage business information appropriately, our technical and organizational privacy and guard data and our digital systems. We do this securely, and con昀椀dentially. Our data privacy measures and, in doing so, we enhanced our by developing a “Privacy and Security by Design” team supports our cybersecurity team’s defense position to protect personal and proprietary data culture which we apply to our organization, e昀昀orts for privacy matters and forti昀椀es our from accidental loss and unauthorized access. products, and supply chain. PROTECTING OUR ORGANIZATION As data ecosystems become more We are committed to protecting ORGANIZATION interconnected and sophisticated in our information and securing our globalized economy, it is our company and products Prioritize security as imperative that we protect our a business priority organization and assets from against possible and partner with cybersecurity threats. A rigorous, stakeholders to multi-layered information security infrastructure cybersecurity build trust designed to defend our data, network, and threats and employees sits at the core of our enterprise-wide data breaches. PRODUCT cybersecurity strategy. Our team of To uphold this Pursue a secure by cybersecurity professionals further strengthens design approach and the security posture of our business by routinely commitment, we reinforce defensive monitoring for malicious activity, managing and focus on fostering a posture responding to threats, testing our systems, and culture of “Privacy improving our controls. We also recognize that our employees can play and Security by SUPPLY CHAIN an indispensable role in ensuring our cyber Design” and target Assess vulnerabilities resilience. As an added layer of defense to our our e昀昀orts through in supply chain and security infrastructure and procedures, in 2022 embed defense Hubbell focused on enhancing the frequency and three key areas: mechanisms delivery of phishing testing to our employees to foster a security culture across the company. 60
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES SAFEGUARDING OUR PRODUCTS We believe in fostering a mature privacy and security by design culture, as supported by our policy and guidelines, for the development of our connected products. Our Product Cybersecurity Council provides cyber awareness and collaboration with internal stakeholders, partnering with Hubbell’s SOC2 Engineering Council, to implement security protections and initiatives across the full lifecycle of our new product development process. The secure development process is designed to consider and holistically STRENGTHENING SOC2 address cybersecurity risk and data privacy during the design and In 2022 we initiated a process to integrate privacy trust development of connected products. By embedding these considerations service criteria into our SSAE 18 Systems and Organizations into our new products, we strengthen the software, sensors, and digital Controls (SOC) 2 audits, which are independent third-party o昀昀erings of our electrical and utility solutions, and ultimately, achieve our service level compliance reviews of selected connected customers’ expectations for strong data protection. products for our customers. MANAGING RISKS IN OUR SUPPLY CHAIN Our businesses have a strong supply chain risk management program in place with a proven policy and process for managing cybersecurity risks and safeguarding data in supplier engagements. When it comes to cybersecurity, we have a team of seasoned experts who are responsible for managing timely risk assessments, risk remediation plans, and a risk-based reassessment schedule. In addition to their focus on risk management, our cybersecurity team coordinates with our compliance team to promote MATURING OUR CYBERSECURITY PROCESSES security best practices throughout our value chain by performing audits of controls and ensuring compliance with applicable regulations. Over the In 2022, we continued to enhance our cybersecurity operational past couple of years, we have continuously strengthened our processes, process, risk register, and incident response procedures. To that including our assessment and monitoring of critical suppliers in our end, we benchmarked our internal risk assessment’s alignment with value chain. For those suppliers with access to personal data, we tighten the National Institute of Standards and Technology's Cybersecurity contractual obligations spanning our Data Processing Agreements and Framework, a leading standard for cybersecurity. Through our security standards. We have also implemented a new control in our SSAE 18 analysis, we identi昀椀ed and implemented prudent improvements that SOC 2 audits which requires our data privacy team to provide approval of strengthened our business security processes. data maps related to personal information obtained from customers. 61
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI, SASB, AND TCFD DISCLOSURES We prepared this report leveraging the Global Reporting Initiative (GRI) Sustainability Reporting Standards, the Sustainability Accounting Standards Board (SASB) Electrical & Electronic Equipment Industry Standards, and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. 2023 GRI CONTENT INDEX GRI 1 FOUNDATION 2021 Statement of Use Hubbell Incorporated has reported in accordance with the GRI Standards for the period January 1, 2022 – December 31, 2022. GRI Used GRI 1: Foundation 2021 GRI STANDARD DISCLOSURE EXPLANATION GENERAL DISCLOSURES GRI 2: General 2-1 Organizational details Location of Hubbell Incorporated’s (NYSE: HUBB) headquarters: Shelton, Connecticut. Disclosures 2021 Our products are either sourced complete, manufactured, or assembled by subsidiaries in the United States (US), Canada, Puerto Rico, Mexico, China, the United Kingdom (UK), Brazil, Australia, Spain, and Ireland. The Company also participates in joint ventures in Hong Kong and the Philippines, and maintains o昀케ces in Singapore, Italy, China, India, Mexico, South Korea, Chile, and countries in the Middle East. 2-2 Entities included in the organization’s This report covers our environmental, social, and governance (ESG) e昀昀orts across our organization, spanning Hubbell Incorporated and sustainability reporting its subsidiaries, with a primary focus on our activities in the US. 2-3 Reporting period, frequency and Unless otherwise noted, this sustainability report, as well as Hubbell's annual 昀椀nancial reporting, covers calendar year 2022 (January 1, contact point 2022-December 31, 2022). Some initiatives or goals launched during early 2023 are also included in this report to provide up-to-date information for our stakeholders. We intend to publish our sustainability report on an annual basis. This report was published in March 2023. For questions related to Hubbell's sustainability report or other ESG disclosures, please email [email protected]. 2-4 Restatements of information In 2022, we completed our implementation of a software solution that enables us to track emissions, water, and waste across our enterprise. This led to an improvement in our data measurement methodology and the number of sites and sources included in our inventory. As a result, we restated our historical energy, emissions, and water metrics, as well as associated intensity 昀椀gures. 2-5 External assurance At this time, Hubbell's ESG disclosures are not externally assured. 2-6 Activities, value chain and other Hubbell Incorporated (est. 1888) is a world-class manufacturer of electrical and utility solutions. business relationships Hubbell’s reporting segments consist of Hubbell Utility Solutions (HUS) and Hubbell Electrical Solutions (HES). HUS o昀昀ers electrical distribution, transmission, substation, and telecommunications products. HUS supports the electrical distribution, electrical transmission, water, gas distribution, telecommunications, and solar and wind markets. HES provides wiring device products, connector and grounding solutions, controls, and other electrical equipment. HES products have applications in the light industrial, non-residential, wireless communications, transportation, data center, and heavy industrial markets. Optimized for quality, cost, and delivery, Hubbell's supply chain is made up of a globally diverse supply base. Our direct suppliers provide material inputs, such as steel, copper, and aluminum; catalog parts, which we assemble in our facilities; and tools for stamping, casting, and other activities. Our indirect suppliers a昀昀ord us services that support our o昀케ces and facilities, such as logistics solutions and professional services. In October 2021, Hubbell initiated the sale of its Commercial and Industrial Lighting business. The divestiture was completed in February 2022. In addition, Hubbell grew its business with acquisitions in the second half of 2022 - PCX Holdings LLC, Ripley Tools, and REF Automation. Please see our 2022 Annual Report and Proxy Statement 昀椀led with the US SEC for further details. Other than the stated divestiture and acquisitions, there were no signi昀椀cant changes regarding our size, structure, ownership, or supply chain in 2022. 62
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI STANDARD DISCLOSURE EXPLANATION GENERAL DISCLOSURES GRI 2: General 2-7 Employees REPORTING PERIOD: JANUARY 1, 2022– DECEMBER 31, 2022 Disclosures 2021 2-8 Workers who are not employees GLOBAL TOTAL FEMALE MALE US-BASED OUTSIDE US 1 Total Employees (headcount/Full-Time 16,323 5,210 11,113 9,809 6,514 Equivalent (FTE)) 1 Full-Time Employees (headcount/FTE) 16,241 5,173 11,068 9,753 6,488 Part-Time Employees (headcount/FTE) 82 37 45 56 26 Workers Who Are Not Employees2 735 1. This is a global 2022 headcount that includes our joint venture employees. It does not include contingent workers and contractors. 2. Our 2022 workers who are not employees includes contingent workers and contractors. 2-9 Governance structure and Hubbell's Board provides the highest level of oversight for Hubbell’s strategy, performance, and enterprise risks, as outlined in the composition Board’s Corporate Governance Guidelines. Hubbell’s Board has 昀椀ve committees and nine Directors, including Gerben Bakker, Hubbell’s Chairman, President and Chief Executive O昀케cer (CEO). Eight of our nine Directors are independent, and all Board committees, except the Executive Committee, consist entirely of independent Directors. All Directors adhere to the Board’s Corporate Governance Guidelines, Committee Charters, and Code of Business Conduct and Ethics. A full description of the Board’s responsibilities, as well as Director biographies and tenure, are available in our 2022 Annual Report and Proxy Statement available on Hubbell’s website. 2-10 Nomination and selection of the Our Board's Nominating and Corporate Governance Committee (NCGC) works with the Board at least annually to determine the highest governance body appropriate characteristics, skills, and experience for the Board and its individual members to properly oversee the interests of Hubbell and its shareholders. The NCGC recommends candidates for Board membership using the selection criteria outlined in the Corporate Governance Guidelines, Committee Charters, and other factors it deems necessary to ful昀椀ll its objectives, including diversity. Diversity criteria includes gender, race, and ethnicity, as well as diversity of experience, professional background, industry exposure, and other areas. A full description of the Board's nomination practices are available in our 2022 Annual Report and Proxy Statement available on Hubbell’s website. 2-11 Chair of the highest governance Hubbell’s Chairman, President and CEO is Gerben Bakker. body 2-12 Role of the highest governance Hubbell’s Corporate Governance Guidelines and the Charter of the NCGC formally include Board oversight of the company’s ESG body in overseeing the programs as part of the Board’s responsibilities. The NCGC is charged with speci昀椀c oversight of ESG-related matters, although ESG management of impacts issues are discussed by the entire Board and are incorporated into Hubbell’s overall business strategy. 2-13 Delegation of responsibility for At the executive level, our ESG Steering Committee (ESG Committee) has responsibility for ESG matters globally and oversees managing impacts alignment between our ESG e昀昀orts and our overarching business objectives. Hubbell’s Senior Vice President (SVP), General Counsel and Corporate Secretary and Chief Compliance O昀케cer (CCO) are the executive sponsors for the ESG Committee and provide regular updates to senior leadership and the Board. Moreover, a comprehensive team of human resources (HR) senior leaders manage the company's employee programs, including inclusion and diversity initiatives. They partner with our Chairman, President and CEO to provide regular updates to our senior leadership and Board on employee-related matters. 63
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI STANDARD DISCLOSURE EXPLANATION GENERAL DISCLOSURES 2-14 Role of the highest governance The Board's NCGC is responsible for reviewing and approving Hubbell's sustainability programs and initiatives, including our ESG body in sustainability reporting reporting and disclosure activities. 2-15 Con昀氀icts of interest As outlined in Hubbell's Corporate Governance Guidelines, Directors are expected to avoid any action, position, or interest that con昀氀icts with the interests of the company. If an actual or potential con昀氀ict of interest develops, the Director is to immediately report the matter to the Lead Director, who in turn shall notify the Chairman of the Board. Any signi昀椀cant con昀氀ict must be resolved, or the Director should resign. 2-16 C ommunication of critical Hubbell's CCO regularly updates our Board’s Audit Committee on compliance and ethical-related matters. Should signi昀椀cant critical concerns concerns arise, they are communicated to the Board immediately. In addition, Hubbell o昀昀ers a resource where individuals can ask questions or report ethical or compliance concerns con昀椀dentially or anonymously. This service is called “Speak Up Today,” and it is managed by an independent third party. Speak Up Today is available to employees, customers, vendors, or any other third party 24 hours a day, seven days a week, and in multiple languages. The service is accessible via the web (www.speakuptoday.com), email, and phone through toll-free telephone numbers in 16 countries. 2-17 C ollective knowledge of the As outlined in our Corporate Governance Guidelines, Hubbell will make available to Directors continuing educational programs and highest governance body each Director is expected to participate in such programs, as the Board determines desirable. This includes sustainability-related educational content. Moreover, the ESG Committee provides regular updates to the NCGC and the rest of the Board on ESG-related matters to advance their knowledge of sustainable development issues relevant to Hubbell. 2-18 Evaluation of the performance of Following the end of each 昀椀scal year, the NCGC oversees an annual self-assessment by the Board of the Board's performance. This the highest governance body evaluation process also includes the Board and the company's management of ESG matters. For more information, see our Corporate Governance Guidelines and the NCGC's Charter. 2-19 Remuneration policies Hubbell's NCGC annually reviews all forms of independent Director compensation in relation to other US companies of comparable 2-20 Process to determine size and Hubbell's competitors and recommends changes to the Board, when appropriate. The NCGC is supported in this review by remuneration an independent outside compensation consultant that provides compensation consultation and competitive benchmarking. Moreover, the Board's Compensation Committee provides assistance to the Board in determining and approving compensation for Hubbell's Chairman, President and CEO and other Board-appointed o昀케cers. A full description of the Board’s compensation practices are available in the Compensation Committee's Charter and our 2022 Annual Report and Proxy Statement available on Hubbell’s website. Hubbell’s Chairman, President and CEO’s annual Short Term Incentive (STI) award has a component (of 20%) based on performance on strategic initiatives and critical priorities, including diversity, equity, inclusion, sustainability/ESG, and safety. 2-21 Annual total compensation ratio Omitted due to con昀椀dentiality constraints. 2-22 Statement on sustainable To read our 2023 ESG message from Hubbell's Chairman, President and CEO, see page 4. development strategy 64
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI STANDARD DISCLOSURE EXPLANATION GENERAL DISCLOSURES GRI 2: General 2-23 Policy commitments ESG-RELATED POLICIES, COMMITMENTS, AND DISCLOSURES Disclosures 2021 Sustainability Ethics and Compliance Data Privacy • ESG and Sustainability Disclosures Policy • Code of Business Conduct and Ethics • Website Visitor Privacy Policy • 2022 CDP Climate Change Disclosure • Violence-Free Workplace Policy Human Rights and Supply Chain Employee Inclusion and Bene昀椀ts • Anti-Corruption Policy Responsibility • Equal Employment Opportunity Policy • Political Contributions Policy • Global Human Rights Policy • Paid Parental Leave Policy • Anti-Harassment Policy • Third-Party Code of Business Conduct • Volunteer Paid Time O昀昀 Policy Governance and Accountability and Ethics • Military Leave Policy • Corporate Governance Guidelines • California Transparency in Supply Chains Act Disclosure • Paradigm for Parity Signatory • Audit Committee Charter • Con昀氀ict Minerals Policy • 2022 Equal Employment Opportunity • Compensation Committee Charter • 2023 Supplier Diversity Program Diversity Data • Finance Committee Charter Statement Health and Safety • Nominating and Corporate Governance • Environmental, Health, and Safety Policy Committee Charter • 2022 Annual Report and Proxy Statement 2-24 Embedding policy commitments Hubbell's ESG Committee, as well as cross-functional departments across the business, are responsible for embedding the company's ESG policy commitments and ensuring they are integrated into organizational strategies and operational procedures. 2-25 Processes to remediate negative In our Code of Business Conduct and Ethics and business ethics and compliance training, employees are reminded that whenever they have impacts a concern, they have multiple avenues to raise their concerns in a manner most comfortable to them. These avenues include their direct 2-26 Mechanisms for seeking advice supervisor, their local human resources partner, a member of Hubbell’s legal and compliance teams, or through Hubbell’s Speak Up Today and raising concerns service. For more information on Speak Up Today, see our disclosure for GRI 2-16. Through Speak Up Today, Hubbell's audit and compliance procedures, and stakeholder engagement mechanisms, all critical concerns, grievances, and other ESG-related issues are identi昀椀ed, tracked, and addressed by the company, its senior leaders, and the Board of Directors. 2-27 Compliance with laws and 100% of compliance matters have been investigated. regulations 2-28 Membership associations Hubbell is a member of several associations within our industry. We are proud to participate in a signi昀椀cant role in the following organizations: • National Electrical Manufacturers Association (NEMA) • Sustainable Supply Chain Alliance (formerly EUISSCA) • Manufacturers Alliance (formerly MAPI) • National Minority Supplier Development Council (NMSDC) • Business Ethics Leadership Alliance (BELA), an Ethisphere Community 65
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI STANDARD DISCLOSURE EXPLANATION GENERAL DISCLOSURES GRI 2: General 2-29 Approach to stakeholder The following table lists our key sustainability stakeholders, how we engage with them, and selected topics of interest that they have Disclosures 2021 engagement raised with us. STAKEHOLDERS ENGAGEMENT MECHANISMS TOPICS OF INTEREST Customers • Customer learning and development centers • Pr oduct development, innovation, safety, • Sales meetings and quality • New product development • Responsible sourcing • On-site service and support • Sustainability Employees • Town hall meetings and employee events • Car eer development and job satisfaction • Employee intranet • Health and safety • Employee Inclusion Groups • Inclusion and diversity • Training and development sessions • Business progress and strategic planning • Sustainability Investors • Annual meeting • Financial performance • Quarterly and annual reports • Capital allocation • Investor calls, meetings, and conferences • Executive compensation • Business growth • ESG performance Suppliers • Third-Party Code of Business Conduct and Ethics • Supplier development screening and vendor onboarding process • Responsible sourcing • Supplier relationship management meetings • Quality expectations Communities • Charitable donations • Food and housing insecurity • Employee volunteering with local nonpro昀椀ts • Social and racial justice • Disaster relief • Sustainability 2-30 Collective bargaining agreements As outlined in our Global Human Rights Policy, our employment practices and policies support the fundamental human rights principles of freely chosen employment, non-discrimination, the elimination of forced and underage labor, and the rights of workers to organize and freely associate. To that end, we employ both unionized and non-unionized employees across our manufacturing and warehouse locations. In 2022, 18% of our US workforce were under collective bargaining agreements. 66
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI STANDARD DISCLOSURE EXPLANATION MATERIAL TOPICS GRI 3: Material 3-1 Process to determine material topics In 2022, we conducted a new materiality assessment with a third party to help us understand the ESG issues that are most signi昀椀cant Topics 2021 to our business and our stakeholders. During this process, we analyzed a wide range of inputs to identify our sustainability-related focus areas, risks, and opportunities. These inputs included leading global reporting guidelines, information disclosed by our industry peers, relevant market trends, criteria from our business strategy, and perspectives and feedback received from our investors, customers, suppliers, employees, and ESG rating agencies. The resulting ESG topics were evaluated and validated by our leadership team. 3-2 List of material topics Environmental Social Governance • Climate change • Inclusion, diversity, and equity • Risk excellence • Energy and emissions • Employee health and safety • Business ethics, integrity, and transparency • Water and waste • Employee experience • Data privacy and cybersecurity • Products with Impact • Community impact • Product quality and safety • Supply chain responsibility • Human rights in the workplace and value chain CLIMATE CHANGE GRI 3: Material 3-3 Management of material topics To address the impacts climate change poses for our business, we focus on mitigating our own carbon footprint and continuously Topics 2021 assess relevant climate-related risks and opportunities. For a comprehensive description of our management of climate change risks and opportunities, view our TCFD responses on page 82. In addition, we disclose our greenhouse gas (GHG) emissions data and GRI 201 Economic 201-2 Financial implications and other management of climate change risks and opportunities in our annual CDP (formerly the Carbon Disclosure Project) Climate Change Performance risks and opportunities due to questionnaire. To view our most recent CDP response, visit Hubbell’s 2022 CDP Climate Change disclosure. 2016 climate change ENERGY AND EMISSIONS GRI 3: Material 3-3 Management of material topics Our most signi昀椀cant environmental impacts are associated with the energy we consume, the GHGs we emit, the water we use, and the Topics 2021 waste we generate in our operations. To help us manage these impacts, we track and review our relevant environmental data; establish targets for reducing energy use, GHG emissions, and water; and implement initiatives that improve our environmental performance. In 2022, we implemented a new environmental data software solution to help us manage our environmental metrics. This tool comprehensively captures energy use, GHG emissions, water usage, and waste generation from our facilities worldwide, enabling us to explore and identify opportunities to reduce the environmental footprint of our operations. In 2023, we also established a new GHG emissions goal to reduce our absolute Scope 1 and 2 by 30% by 2030 compared to a 2021 baseline. Our new goal will guide our emission reduction e昀昀orts and provide a measurable target to track our progress. Our energy and emissions related reduction activities include, for example, implementing lighting retro昀椀ts, replacing equipment with higher energy e昀케ciency models, and utilizing renewable energy sources. We also routinely analyze our environmental policies and procedures to comply with applicable laws, regulations, and industry standards. Moreover, our sites utilize Hubbell’s Environmental Management System and Sustainability and Infrastructure Management Handbook for guidance on improving the e昀케ciency and sustainability of our facilities. 67
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI STANDARD DISCLOSURE EXPLANATION ENERGY AND EMISSIONS 1,2,3 GRI 302 Energy 302-1 Energy consumption within the FUEL AND ENERGY CONSUMPTION (KWH) 2019 2020 2021 2022 2016 organization Electricity 225,752,286 217,570,657 219,989,427 211,803,212 302-3 Energy intensity Natural Gas 179,180,476 160,553,183 140,301,056 147,424,456 GRI 305 305-1 Direct (Scope 1) GHG emissions Stationary Fuels 34,359,153 30,769,658 26,108,275 24,919,945 Emissions 2016 305-2 Energy indirect (Scope 2) GHG Transport Fuels 5,856,358 3,770,161 4,273,124 4,647,615 emissions Total Energy Consumption 445,148,273 412,663,659 390,671,881 388,795,228 305-4 GHG emissions intensity Energy intensity per million dollars of sales (kWh/$M of net sales) 112,793 112,061 93,148 78,578 305-5 Reduction of GHG emissions GREENHOUSE GAS EMISSIONS (TCO E)1,2,3 2019 2020 2021 2022 2 SCOPE 1 EMISSIONS Natural Gas 32,478 29,103 25,432 26,721 Stationary Fuels 7,950 7,211 5,999 5,725 Transport Fuels 1,448 932 1,057 1,148 Refrigerants 431 192 293 76 Total Scope 1 42,307 37,439 32,781 33,671 SCOPE 2 EMISSIONS Total Scope 2 (Location-based method) 96,595 90,612 94,159 91,948 Total Scope 1 & 2 138,903 128,051 126,941 125,619 Scope 1 & 2 emissions intensity per million dollars of sales (tCO e/$M 35 35 30 25 2 of net sales) Energy and GHG Emissions Inventory Footnotes: 1. Hubbell reports all energy and emissions from our wholly owned companies’ leased and owned manufacturing, warehouse, and o昀케ce facilities worldwide. The energy and emissions of consolidated joint operations are included pro rata, based on our 50% interest. We used the methodology outlined in the World Resource Institute (WRI) and the World Business Council for Sustainable Development’s (WBCSD) GHG Protocol: A Corporate Accounting and Reporting Standard (Revised Edition) to calculate the Scope 1 and 2 emissions generated by our facilities. Electricity for select sites where Hubbell does not pay the utility bill (i.e., primarily tenant-shared o昀케ce space) is excluded from the reported electricity number as well as from the reported Scope 2 (location-based) emissions. Estimates are used where primary data is not available. Energy is reported in kilowatt-hours (kWh). GHG emissions are reported in metric tons of carbon dioxide equivalent (tCO e). 2 2. In 2022, we completed our implementation of a software solution that enables us to track energy and emissions across our enterprise. This led to an improvement in our data measurement methodology and the number of sites and sources included in our inventory. As a result, we restated our historical energy and emissions. 3. Hubbell established a threshold for signi昀椀cance of 5% or greater in Hubbell’s total base-year emissions for the company’s rebaseline policy. While our new environmental goals reference a 2022 baseline, we applied this policy to our 2019-2021 historical data to help us track Hubbell’s environmental reduction progress over time. In October 2021, Hubbell initiated the sale of its Commercial and Industrial Lighting business, which was completed in 2022. This divestment triggered our rebaseline policy and our restated historical data re昀氀ects this recalculation. In addition, Hubbell grew its business with acquisitions in the second half of 2022 - PCX Holdings LLC, Ripley Tools, and REF Automation. These acquisitions did not trigger our rebaseline policy for historical data, however these sites are included in our inventory for 2022 onward. 68
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI STANDARD DISCLOSURE EXPLANATION WATER AND WASTE GRI 3: Material 3-3 Management of material topics For information on our approach to managing energy, GHG emissions, water, and waste, see GRI 3-3 for the material topic, "energy and Topics 2021 emissions." In 2023, we set water and waste goals to drive improvements in our sustainability performance. These enterprise-wide goals include reducing water usage by 25% and reducing hazardous waste generation by 30% by 2030, compared to a 2021 baseline. The new environmental data software solution we implemented in 2022, which provides a more comprehensive picture of our waste, recycling, and water inventory, will help us identify and pursue opportunities to reduce our water usage and waste generation. Our e昀昀orts to reduce our water usage include behavior changes that promote water conservation and installing low-昀氀ow water valves and leak detection mechanisms in our facilities. As water availability and scarcity varies considerably from region to region, we continue to evaluate opportunities to minimize the amount of water we consume on a local basis. We are also focused on reducing the amount of waste generated from our operations, as well as reducing or eliminating hazardous materials in our products. Whenever feasible, we are dedicated to pursuing measures to reduce, recover, reuse, or recycle waste in our operations. GRI 303 Water 303-5 Water consumption 1,2,3 WATER USAGE (KGAL) 2019 2020 2021 2021 and E昀툀uents 2018 Total Water Usage 178,780 154,601 141,530 123,088 Water intensity per million dollars of sales (kgal/$M of net sales) 45 42 34 25 Water Inventory Footnotes: 1. Hubbell r eports all water usage from our wholly owned companies’ leased and owned manufacturing, warehouse, and o昀케ce facilities worldwide. The water usage of consolidated joint operations are included pro rata, based on our 50% interest. Water usage for select sites where Hubbell does not pay the utility bill (i.e., primarily tenant-shared o昀케ce space) is excluded from the reported water usage. Estimates are used where primary data is not available. Water usage is reported in kilogallons (kgal). 2. In 20 22, we completed our implementation of a software solution that enables us to track water usage across our enterprise. This led to an improvement in our data measurement methodology and the number of sites and sources included in our inventory. As a result, we restated our historical water usage. 3. Hubbell established a threshold for signi昀椀cance of 5% or greater in Hubbell’s total base-year water usage for the company’s rebaseline policy. While our new environmental goals reference a 2022 baseline, we applied this policy to our 2019-2021 historical data to help us track Hubbell’s environmental reduction progress over time. In October 2021, Hubbell initiated the sale of its Commercial and Industrial Lighting business, which was completed in 2022. This divestment triggered our rebaseline policy and our restated historical data re昀氀ects this recalculation. In addition, Hubbell grew its business with acquisitions in the second half of 2022 - PCX Holdings LLC, Ripley Tools, and REF Automation. These acquisitions did not trigger our rebaseline policy for historical data, however these sites are included in our inventory for 2022 onward. 69
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI STANDARD DISCLOSURE EXPLANATION 1,2,3 GRI 306 Waste 306-3 Waste generated WASTE GENERATED (US TONS) 2019 2020 2021 2021 2020 Waste - General 13,934 12,029 9,567 17,936 Waste - Industrial 8,006 9,803 10,142 4,101 Waste - Universal 2,116 2,270 2,314 2,320 Waste - Hazardous 1,862 1,469 1,861 1,608 Waste - Wood 167 228 296 340 Total Waste Generation 26,084 25,798 24,181 26,306 Waste intensity per million dollars of sales (US ton/$M of net sales) 7 7 6 5 1,2,3 WASTE RECYCLED (US TON) 2019 2020 2021 2022 Waste Recycled - Aluminum 2,913 2,701 1,854 11,256 Waste Recycled - Brass 1,349 1,213 1,012 1,023 Waste Recycled - Bronze 0 0 178 159 Waste Recycled - Copper 2,078 1,789 986 1,012 Waste Recycled - Iron 300 419 292 903 Waste Recycled - Lead 18 4 13 5 Waste Recycled - Stainless Steel 310 259 415 382 Waste Recycled - Steel 179,763 204,212 338,621 295,920 Waste Recycled - Tin 227 76 24 215 Total Metals Recycled 186,959 210,674 343,395 310,875 Waste Recycled - Commingled 590 491 469 412 Waste Recycled - Industrial Waste 857 750 820 794 Waste Recycled - Universal Waste 4 3 72 40 Waste Recycled - Hazardous Waste 138 572 93 211 Waste Recycled - Cardboard 1,614 1,569 1,473 1,161 Waste Recycled - Paper 13 14 103 267 Waste Recycled - E-waste 24 13 11 11 Waste Recycled - Plastic 54 166 346 125 Waste Recycled - Glass 0.78 0.78 0.75 0.75 Waste Recycled - Wood 2,112 2,134 2,898 2,150 Total Metals & Waste Recycled 192,367 216,386 349,680 316,047 Total Waste Diversion Rate 88% 89% 94% 92% Note: For Waste and Recycling Inventory Footnotes 1,2, and 3, please see the next page. 70
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI STANDARD DISCLOSURE EXPLANATION Waste and Recycling Inventory Footnotes: 1. Hubbell r eports all waste and recycling from our wholly owned companies’ leased and owned manufacturing, warehouse, and o昀케ce facilities worldwide. The waste generated and recycled of consolidated joint operations are included pro rata, based on our 50% interest. Waste and recycling for select sites where Hubbell does not pay the service bill (i.e., primarily tenant-shared o昀케ce space) are excluded from the reported waste generated and recycled. Estimates are used where primary data is not available. Waste generated and waste recycled are reported in US tons (ton). 2. Hubbell es tablished a threshold for signi昀椀cance of 5% or greater in Hubbell’s total base-year waste and recycling for the company’s rebaseline policy. While our new environmental goals reference a 2022 baseline, we applied this policy to our 2019-2021 historical data to help us track Hubbell’s environmental reduction progress over time. In October 2021, Hubbell initiated the sale of its Commercial and Industrial Lighting business, which was completed in 2022. This divestment triggered our rebaseline policy and our stated historical data re昀氀ects this. In addition, Hubbell grew its business with acquisitions in the second half of 2022 - PCX Holdings LLC, Ripley Tools, and REF Automation. These acquisitions did not trigger our rebaseline policy for historical data, however these sites are included in our inventory for 2022 onward. 3. Hazardous waste data represents waste deemed hazardous by region-speci昀椀c de昀椀nitions. PRODUCTS WITH IMPACT GRI 3: Material 3-3 Management of material topics From ideation to production, we are committed to developing best-in-class products that meet our customers’ business and sustainability Topics 2021 objectives. Hubbell’s New Product Development (NPD) e昀昀orts are centered on developing solutions that enable our customers to solve critical infrastructure problems. In addition to continuing to pursue NPD innovations in our existing product lines, Hubbell has recently accelerated our e昀昀orts to invest in higher value innovation opportunities across our portfolio. These investments are primarily focused in six key strategic growth verticals: utility transmission and distribution (T&D) infrastructure, utility distribution automation, electrical transportation, renewables, data centers, and communications. Increasing our NPD investment in these verticals supports our strategy to accelerate organic growth across clean energy megatrends in grid modernization and electri昀椀cation. In addition, our NPD e昀昀orts are conducted through a comprehensive stage-gate process, which includes a stage evaluating environmental performance. No applicable GRI Custom disclosure: Total sales Hubbell’s Products with Impact support the transition to an energy e昀케cient and low-carbon economy through four impact categories: grid Topic Standard associated with Products with Impact modernization and hardening, resource e昀케ciency, renewable energy, and electri昀椀cation. Our Products with Impact represented approximately 63% of our total sales in 2022. This calculation includes all sales from electrical utility T&D components and utility communications and controls, as well as products sold directly into solar and wind applications. It also includes products that support grid modernization and communications applications such as 5G/昀椀ber/broadband access and data centers. This calculation excludes sales from products sold into oil and gas markets, which enhance the safety of those applications. It also excludes sales from our broader portfolio of electrical products sold into various industrial, non-residential, and residential applications. • HUS enables the grid t o conduct, communicate, and control energy across utility applications. Our critical utility T&D components harden critical infrastructure, enabling the grid to reliably transmit and distribute energy. In addition, HUS' utility communications and controls technologies provide data collection, analysis, and control capabilities that enable the management of energy T&D with consumption. By making the grid smarter and more 昀氀exible, our communications and controls solutions facilitate the integration of renewables and the electri昀椀cation of everything. • HES pr ovides critical components that allow operators of buildings, factories, and other industrial infrastructure to connect, protect, wire, and manage power reliably and e昀케ciently. HES solutions increase the energy e昀케ciency of buildings and infrastructure, as well as support electri昀椀cation of sectors including transportation and manufacturing. Moreover, while our decarbonization-related products are salient to our business and our industry, we believe that our solutions also generate positive social and environmental impacts beyond our Products with Impact categories. These bene昀椀ts include enhancing safety, resource e昀케ciency, hardening of infrastructure, explosion prevention, and rural broadband access. For example, Hubbell Gas Utility Solutions o昀昀ers connectors and valves that both promote resource e昀케ciency and prevent gas leaks and spills. 71
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI STANDARD DISCLOSURE EXPLANATION INCLUSION, DIVERSITY, AND EQUITY GRI 3: Material 3-3 Management of material topics Led by senior HR leaders with support from Hubbell’s HR Council, dedicated talent team, and legal team, we are committed to promoting Topics 2021 inclusion, diversity, and equity, monitoring our practices for e昀昀ectiveness, and ensuring our commitment is emphasized by all levels of management and communicated to all team members and stakeholders. Hubbell actively recruits across the country for candidates from di昀昀erent backgrounds, with di昀昀erent life experiences, and across a broad range of skill levels. We have national partnerships with organizations that help us focus on recruiting ex-military members as well as female and racially and ethnically diverse candidates. We also partner with several universities around the US including several Historically Black Colleges and Universities. Moreover, we are focused on expanding opportunity and removing bias from the hiring process using technology to attract more diverse candidates and by building more diverse interview teams. Together, these initiatives are supporting our e昀昀ort to promote diversity within our workforce. We are 昀椀rmly committed to providing equal opportunity to all persons without regard to race, color, sex, gender, gender identity, gender expression, sexual orientation, religious creed, national origin, age, physical disability, mental disability, medical condition, pregnancy, genetic information, ancestry, marital status, veteran status, political a昀케liation, union membership, or other bases protected by applicable federal, state, or local law, as outlined by our Equal Employment Opportunity Policy. This applies to all our employment decisions including, but not limited to, recruiting, hiring, training, promotions, pay practices, bene昀椀ts, disciplinary actions, and terminations, and prohibits harassment of applicants and employees. Our commitment to equal opportunity and non-discrimination also applies to our remuneration practices. We believe in fair compensation and review our pay equity at all levels to ensure that individuals with similar roles and responsibilities are receiving comparable wages, with bonuses determined on the merits of their performance and potential. GRI 405 Diversity 405-1 Diversity of governance bodies REPORTING PERIOD: JANUARY 1, 2022 – DECEMBER 31, 2022 and Equal and employees GLOBAL GENDER DIVERSITY (% OF TOTAL HEADCOUNT/ FTE) Opportunity 2016 Global Male 68.1% Global Female 31.9% US GENDER DIVERSITY (% OF US HEADCOUNT/ FTE) US Male 69.5% US Female 30.5% US RACE & ETHNICITY (% OF US HEADCOUNT/ FTE) White 55.5% Black/African American 17.1% Hispanic/Latino 20.7% Asian 4.0% American Indian/Alaskan Native 0.6% Native Hawaiian/Paci昀椀c Islander 0.2% Two or More Races 1.8% BOARD OF DIRECTORS DIVERSITY (% OF TOTAL DIRECTORS) Gender/Race & Ethnicity 33.3% NOTE: The diversity metrics above exclude contingent workers, contractors, and third-party workers. 72
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI STANDARD DISCLOSURE EXPLANATION GRI 406 Non- 406-1 Incidents of discrimination and All allegations are promptly investigated and handled appropriately. Status of incidents and actions taken are not reported as this discrimination 2016 corrective actions taken information is considered con昀椀dential. EMPLOYEE HEALTH AND SAFETY GRI 3: Material 3-3 Management of material topics We are committed to creating and maintaining a safe and healthy workplace and supporting our employees' wellbeing. Environmental, Topics 2021 health, and safety (EHS) are overseen and executed by both onsite EHS personnel and our senior leaders. At the site level, Safety Committees are responsible for managing and ensuring adherence to health and safety protocols. Safety Committee personnel report directly to their respective site leadership and indirectly to our EHS Council, which is comprised of EHS leaders from HUS and HES. Our global EHS Policy and internal EHS Instruction Manual guide our behavior and all sites employ a health and safety management system. Hubbell also establishes annual safety goals and utilizes an EHS Assessment Tool to measure safety metrics and performance related to completion of safety and risk assessments, corrective action closures, and employee engagement. The EHS Assessment Tool is complemented by a comprehensive EHS data management software solution that we use to track EHS reviews, metrics, and other key performance indicators at the site level for our global facilities. Moreover, Hubbell regularly engages with manufacturing alliance partners and third-party consultants to collaborate on best practices and current or emerging employee health and safety issues. GRI 403 403-1 Occupational health and safety Our sites maintain health and safety management systems reinforced by routine safety and compliance audits from our EHS Council. Occupational management system We also work with third-party consultants to analyze regulatory changes and risks pertaining to safety and environmental compliance, Health and Safety which includes performing routine safety gap assessments and risk evaluations. 2018 403-2 Hazard identi昀椀cation, risk Our EHS Instruction Manual, which all sites utilize as part of their safety management systems, guides our health and safety teams in assessment, and incident performing the following procedures: investigation • As sessing, preventing, and responding to safety risks and incidents, including safety protocols for conducting, for example, compliance audits, and ergonomic assessments • C onducting job hazard analysis prior to commencement of any job and implementing job rotation to prevent ergonomic-related injuries • C onducting site and occupational risk assessments and guidance for implementing mitigation mechanisms, covering aspects such as potential exposure to respiratory, hearing, and chemical hazards and dangerous processes • Implementing engineering c ontrols, administrative controls, personal protective equipment, and employee training to mitigate potential hazards, including lockout/tagout procedures to ensure equipment is shut down and inoperable until maintenance or repair work is completed • C onducting emergency mock drills, health and safety training, safety walks, and potential hazard identi昀椀cation exercises • Closing and r esolving incidents and safety observations through appropriate actions • De veloping and documenting new safety ideas with our site level Safety Committees • Implementing beha vioral campaigns, such as “Stop and Think” to encourage greater safety awareness and practices 403-5 Worker training on occupational Our employees are trained and briefed on occupational health and safety principles as well as work procedures speci昀椀c to their health and safety individual tasks regularly and prior to starting a new role or activity. In 2022, each operations employee received an average of 2.5 hours of health and safety training. 403-9 Work-related injuries REPORTING PERIOD: JANUARY 1, 2021 – DECEMBER 31, 2022 403-10 Work-related ill health OCCUPATIONAL SAFETY AND HEALTH TOTAL RECORDABLE EMPLOYEE DAYS AWAY, RESTRICTED, ADMINISTRATION (OSHA) INJURY/ILLNESS INCIDENT RATE (TRIR) HOURS WORKED OR TRANSFERRED RATE RECORDABLES (APPROXIMATE) (DART) 319 1.85 34,551,339 1.1 73
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI STANDARD DISCLOSURE EXPLANATION EMPLOYEE EXPERIENCE GRI 3: Material 3-3 Management of material topics Our e昀昀orts to attract, engage, retain, and advance our talent are led by a comprehensive team of HR senior leaders dedicated to Topics 2021 helping our workforce 昀氀ourish. A crucial part of Hubbell’s employee experience is our commitment to developing our people. Across the enterprise and within our businesses and teams, there are a variety of ways we encourage our employees and leaders to learn on the job, in the classroom, through self-directed learning, or through a variety of leadership programs. Our primary employee development mechanism is Hubbell University, our company-wide learning management system that o昀昀ers a variety of educational resources and curricula. In addition, to support the health and wellbeing of our employees and their families, we provide comprehensive health, mental, and 昀椀nancial bene昀椀ts through our “myLife” program. We also partner with third-party employee bene昀椀ts organizations to further our employees’ access to mental, physical, and social support. Moreover, we believe that employees should be motivated to help the company succeed, and that they should share in that success. We provide market competitive compensation programs which are a mix between base pay and variable 昀椀nancial awards where appropriate. We also recognize and reward great contributors through Hubbell’s global “WIN AS ONE” program. This recognition program was established with the aim of reinforcing and expanding a performance- driven culture that celebrates success. 1 GRI 401 401-1 New employee hires and employee New hires (headcount/FTE): 6,828 Employment 2016 turnover 2 Employee turnover (as a ratio) : 32% 1. T his number is a global number of new hires (inclusive of joint venture employees) for year 2022 excluding contingent workers from temporary agencies and contractors. 2. Our 20 22 global turnover ratio does not include contingent workers and contractors. It also excludes following termination reasons (Death, Disability, Lay O昀昀s, RIFs, Retirement). 401-2 Bene昀椀ts provided to full-time Hubbell’s myLife program supports our global employees on their journey to health, wealth, and peace of mind. myLife bene昀椀ts, which employees that are not provided are available to full-time employees and part-time employees working at least 20 hours per week, include, but are not limited to: to temporary or part-time • Health Bene昀椀ts O昀昀ered: healthcare plans, health navigation, expert opinion, virtual care, subsidized on-premise cafes featuring healthy employees dietary options, diabetes and hypertension management, physical therapy, weight loss, fertility planning, and sleep support programs. • Wealth Bene昀椀ts O昀昀ered: competitive 401(k) plan, educational reimbursement, 昀椀nancial education, identity theft coverage, group legal plan, and employee discounts. • Peace of Mind Bene昀椀ts O昀昀ered: paid vacation, paid volunteer time o昀昀, paid sick time, paid parental leave, pet insurance, home and auto insurance, 昀氀exible work arrangements for greater work-life balance, and charitable and volunteering programs with company matching of employee donations. NOTE: Hubbell’s market-competitive bene昀椀t o昀昀erings vary by jurisdiction and in collectively bargained locations. GRI 404 Training 404-1 Average hours of training per 82,193+ learning hours were completed by employees globally in 2022 through Hubbell University and external training providers. and Education year per employee 2016 404-3 Percentage of employees 100% of our global salaried regular employee population received a performance review in 2022, excluding any employees who were receiving regular performance on a leave of absence. Our employees set objectives for the year in January with their managers, create individual development plans in and career development reviews March, and participate in regular update meetings throughout the year through continuous feedback. 74
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI STANDARD DISCLOSURE EXPLANATION COMMUNITY IMPACT GRI 3: Material 3-3 Management of material topics We recognize that our business touches communities worldwide, thanks in part to the thousands of employees and customers who Topics 2021 choose to work with us. As a result, we believe it is our responsibility to promote and nurture the well-being of our local communities. Our main vehicle for community impact is The Hubbell Foundation. Overseen by a board of trustees comprised of Hubbell senior GRI 413 Local 413-1 Oper ations with local community leaders, The Hubbell Foundation has collaborated with organizations to donate to mission-aligned nonpro昀椀t organizations in the US Communities engagement, impact assessments for over 50 years. 2016 and development program The Hubbell Foundation supports a variety of other nonpro昀椀t organizations through its employee donation and matching gifts campaign, scholarship fund program, and employee volunteering activities. Our Volunteer Paid Time O昀昀 Policy permits our US employees to use a paid workday to volunteer in their local communities. The Hubbell Foundation tracks these campaigns by measuring donations, matching gifts, and volunteering hours. PRODUCT QUALITY AND SAFETY GRI 3: Material 3-3 Management of material topics Across our business segments and units, we maintain a strong emphasis on continual product quality improvement to better serve our Topics 2021 customers. Each business is responsible for managing product quality, which allows for a tailored approach customized to the unique business environments and quality requirements of our diverse product portfolio. Speci昀椀c quality management practices vary depending on our business units’ product lines and the unique needs of their customers, but generally, product quality management e昀昀orts include some or all of the following: • Ensure we obtain the right raw materials, work with quali昀椀ed suppliers, and maintain tested and proven processes throughout our production work昀氀ow • Follow internationally recognized best practice quality management systems like International Organization for Standardization (ISO) • Use, where applicable, third-party product safety, quality, or sustainability certi昀椀cations such as UL and CSA or industry-speci昀椀c certi昀椀cations • Conduct phased quality testing of products in the lab followed by testing in controlled 昀椀eld environments • Continuously improve the e昀昀ectiveness of our quality management systems, our processes, and products to enhance their value In addition to delivering quality products, helping our customers keep their people and end users safe is a priority for our business. To that end, we aim to ensure and improve the safety of our products. Due to the diverse nature of our businesses, safety practices and needs can vary depending on the business segment, business unit, and product line. Generally, to improve and support product safety, we: • Incorporate safety considerations in the early stages of and throughout the product design process • Seek to eliminate hazardous chemicals from relevant products and processes • As required, ensure/pursue compliance to relevant regulatory requirements, including the Restriction of Hazardous Substances (RoHS) directive and the European Union Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH) regulation • Continuously monitor product performance in the 昀椀eld, track warranty rates, and work to appropriately address potential safety hazards identi昀椀ed as a result • Develop innovative safety features to help customers stay safe such as real time leak detection, temperature sensors, automatic shuto昀昀s, and digital solutions for preventative maintenance GRI 416 Customer 416-2 Incidents of non-c ompliance No incidents of non-compliance concerning health and safety impacts of products and services were recorded in 2022. Health and Safety concerning the health and 2016 safety impacts of products and services 75
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI STANDARD DISCLOSURE EXPLANATION SUPPLY CHAIN RESPONSIBILITY GRI 3: Material 3-3 Management of material topics We are 昀椀rmly committed to responsible sourcing and managing ESG-related risks throughout our supply chain. Our global sourcing and Topics 2021 supply chain teams are responsible for overseeing our relationships with our suppliers with support from functional managers at each of our business units. Our broader legal organization also works closely with our sourcing teams to manage potential risks in the supply chain and ensure Hubbell remains compliant with local laws and regulations. Our Third-Party Code of Business Conduct and Ethics (Third-Party Code) is the foundation of our responsible sourcing practices. As an extension of Hubbell’s Code of Business Conduct and Ethics, our Third-Party Code mandates that our suppliers, vendors, sales agents, distributors, or other third parties that we do business with comply with the law and conduct business in an ethical, legal, and responsible manner. It also provides information on our reporting mechanisms through our Speak Up Today program. To learn more about Speak Up Today, see our disclosure for GRI 2-26. In addition to our Third-Party Code, our Global Human Rights Policy, which is based on the United Nations (UN) Guiding Principles on Business and Human Rights, as well as our Con昀氀ict Minerals Policy, California Transparency Act Disclosure, vendor onboarding procedures, and contract and purchase order terms, establish the standards and expectations for our suppliers regarding human rights- related issues and ethical conduct. Moreover, Hubbell's cross-functional Supplier Diversity Council is responsible for sourcing products and services from quali昀椀ed diverse suppliers in the US. The Supplier Diversity Council is committed to integrating supplier diversity into our strategic sourcing and procurement processes to generate e昀케ciency, innovation, and increase opportunities for diverse suppliers. We also aim to work with suppliers that o昀昀er environmentally-preferable goods and services, such as recycled materials. GRI 414 414-1 Ne w suppliers that were We screen all new suppliers for social criteria, including their status as a diverse supplier. For more information, please visit our Supplier Social screened using social criteria Supplier Diversity Program publication. Assessment 2016 HUMAN RIGHTS IN THE WORKPLACE AND VALUE CHAIN GRI 3: Material 3-3 Management of material topics Safeguarding human rights throughout our company, operations, supply chain, and communities is a business imperative for our Topics 2021 company. We are committed to complying with applicable labor laws and maintaining commercial operations and a supply chain free of human rights violations. To this end, we strictly prohibit all forms of involuntary labor, child labor, bonded labor, and human tra昀케cking in our business dealings, as outlined in our Code of Business Conduct and Ethics. Our company's commitment to respecting human rights not only applies to our operations, but also our business partners across our value chain. Our Third-Party Code of Business Conduct and Ethics, which is an extension of Hubbell's Code of Business Conduct and Ethics, mandates that our suppliers comply with the law and conduct business in an ethical, legal, and responsible manner – including with respect to labor and human rights. In addition, our Global Human Rights Policy, which is based on the UN Guiding Principles on Business and Human Rights, as well as our Con昀氀ict Minerals Policy, California Transparency Act Disclosure, vendor onboarding procedures, and contract and purchase order terms, establish the standards and expectations for our suppliers regarding human rights-related issues and ethical conduct. GRI 408 Child 408-1 Oper ations and suppliers at Facilities, suppliers, business partners, and other stakeholders across our value chain are expected to comply with our Global Human Labor 2016 signi昀椀cant risk for incidents of Rights Policy, Con昀氀ict Minerals Policy, and Hubbell's California Transparency Act Disclosure. As part of our e昀昀ort to manage potential child labor ESG-related risks including human rights violations, in our supply chain, we maintain a process that preemptively screens potential counterparties, including suppliers, vendors, customers, distributors, agents, consultants, and other business partners of the company, GRI 409 Forced 409-1 Oper ations and suppliers at prior to any transactions. This third-party due diligence process screens for corporate social responsibility areas of concern, including or Compulsory signi昀椀cant risk for incidents of criminal activity, sanction, embargo, and watch lists, as well as human rights and export controls. Our goal is to ensure that all Hubbell Labor 2016 forced or compulsory labor partners share our commitment to conducting business with a focus on ethics, integrity, sustainability, and social responsibility. We also audit international suppliers we work with both onsite and virtually to assess potential quality, security, human rights, and environmental issues or compliance risks. Furthermore, we are members of the US Customs-Trade Partnership Against Terrorism initiative, which seeks to protect supply chains from the concealment of terrorist weapons or threats. 76
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI STANDARD DISCLOSURE EXPLANATION RISK EXCELLENCE GRI 3: Material 3-3 Management of material topics We are committed to establishing sound governance structures, delegating ESG oversight, and implementing robust risk management Topics 2021 processes that operationalize risk excellence and maintain business resilience. Our governance frameworks and business policies are designed to promote the e昀昀ective oversight of our business and strategy. Our Board of Directors provides the highest level of oversight for Hubbell’s strategy, performance, and enterprise risks. In addition, the Board's Nominating and Corporate Governance Committee oversees the development and administration of Hubbell's sustainability/ESG program, which includes supporting the integration of the management of climate-related issues (e.g., risks and opportunities) into our strategy and outlook. At the executive level, our ESG Steering Committee is responsible for developing, implementing, and driving Hubbell’s global sustainability strategy, initiatives, target- setting, and reporting. Day in and day out, we proactively engage in risk management processes that reinforce risk excellence across our business. To that end, we conduct an Enterprise Risk Management (ERM) analysis to assess the risks and opportunities that may have a material impact on our company. Our ERM procedure focuses on identifying, prioritizing, and mitigating risk exposures to the company on an ongoing basis. In relation to ESG- and climate-related risks, our ERM program drives our processes for examining all relevant ESG risks, including physical and transition risks associated with the shift to a low-carbon economy. For a detailed description of our governance and risk management practices, see our GRI 2: General Disclosures 2021 disclosures above. GRI 201 Economic 201-1 Dir ect economic value generated We believe sound governance practices and risk excellence generate value. In 2022, Hubbell’s net sales were $4.9 billion and free cash Performance and distributed 昀氀ow generation was $507 million. See Note 2 in the Notes to the Consolidated Financial Statements in our Annual Report on Form 2016 10-K for the year ended December 31, 2022, 昀椀led with the US Securities and Exchange Commission (SEC) for further details. BUSINESS ETHICS, INTEGRITY, AND TRANSPARENCY GRI 3: Material 3-3 Management of material topics Our commitment to business ethics and compliance begins at the very top of our organization, with oversight from our Board of Topics 2021 Directors and senior leadership team. Our Code of Business Conduct and Ethics (the Code) and other ethics and compliance policies serve as guideposts for our behavior and management practices. The Code, which is evaluated regularly, addresses our standards and policies for various matters, including con昀氀icts of interest, anti-corruption, and compliance with applicable laws. The Code applies to our Directors, employees, and third parties, and it is the foundation on which our ethics and compliance policies are built. The Code is shared with all employees as part of our new hire onboarding process, and all employees and Directors are required to certify to the Code annually. We also provide monthly training for employees on tenets of the Code. In addition, our compliance program is led by a dedicated team of compliance professionals located across the enterprise. This team includes our Internal Audit group, which performs over 40 compliance-related audits per year. We also have a Compliance Review Committee that reviews all signi昀椀cant ethical matters should they arise. Our Board’s Audit Committee receives regular updates on compliance-related matters, including the results of internal audit activities, our performance compared to benchmarking trends, the results of our annual ERM assessment, and Code of Conduct awareness initiatives. Operating with integrity also encompasses being transparent about our business. We recognize that being open about our company's goals, tactics, performance, and operations is integral to earning the trust of our internal and external stakeholders. As a company, we are dedicated to providing credible and decision-useful information on a regular basis through stakeholder engagement and public disclosures. To this aim, we strive to publish disclosures that keep our stakeholders informed, including our Annual Report and Proxy Statement and the resources on our Sustainability Website. 77
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES GRI STANDARD DISCLOSURE EXPLANATION GRI 205 Anti- 205-1 Oper ations assessed for risks We seek to conduct business only with third parties who share our commitment to the values and principles in our Code, as well as corruption 2016 related to corruption the standards included in our Third-Party Code of Business Conduct and Ethics. We also maintain a compliance vetting program that screens third parties who provide goods and services to Hubbell and its business units. The program evaluates all potential and existing business partners based on factors such as the country in which they do business, the interactions they have with government agencies, and the nature of their compensation or the level of business they do with Hubbell companies and sets screening standards for each third party based on the level of risk. 205-2 Communication and training Each month, compliance-themed courses and resources based on tenets of our Code are rolled out to all employees. Monthly topics about anti-corruption policies covered in this training program, including data privacy and security, insider trading, raising concerns, and bribery and corruption, and and procedures the substance and methods of compliance training, are refreshed regularly. 205-3 Con昀椀rmed incidents of 100% of compliance matters have been investigated. corruption and actions taken GRI 206 Anti- 206-1 Legal actions for anti- Please refer to Hubbell's 昀椀lings with the US SEC on Hubbell's website. competitive competitive behavior, anti-trust, Behavior 2016 and monopoly practice DATA PRIVACY AND CYBERSECURITY GRI 3: Material 3-3 Management of material topics As part of our e昀昀ort to safeguard our data and protect our assets from cybersecurity threats, we apply a “Privacy and Security by Topics 2021 Design” strategy to our organization, products, and supply chain. When it comes to data privacy, we have a dedicated data privacy team that oversees all aspects of our corporate privacy program. This team employs policies, plans, and initiatives that promote a uniform and coordinated approach to diverse privacy regulatory frameworks and challenges. Meanwhile, we also have a cybersecurity team responsible for managing data and protecting our business and assets from potential threats. On a routine basis, our cybersecurity team monitors for malicious activity, manages and responds to threats, tests our systems, and improves our controls. Hubbell's cybersecurity team briefs senior leadership and our Board of Directors regularly on our enterprise-wide cybersecurity risk management, or immediately if signi昀椀cant cybersecurity issues arise. Moreover, our cybersecurity team works diligently to manage cybersecurity risks and safeguard data throughout our supply chain. Our team of professionals partners with our sourcing teams to conduct our Cybersecurity Supply Chain Risk Management (C-SCRM) procedures. The C-SCRM evaluates cybersecurity risks related to critical suppliers. In addition to C-SCRM, our cybersecurity team works closely with our compliance teams to conduct internal audits of our cybersecurity controls and ensure we remain compliant with applicable regulations. Hubbell also works with third-party providers to perform external cyber and information security audits of our program. Our business is also focused on fostering a “Privacy and Security by Design” culture for the development of our connected products. Our product teams and enterprise cybersecurity team manage and execute initiatives that combat cybersecurity threats related to our products, with support from Hubbell's Product Cybersecurity Council (PCC). The PCC partners with Hubbell’s Engineering Council to ensure product security protections are integrated into the full lifecycle of our new product development process. By doing so, we can complement our equipment o昀昀erings with digital solutions, such as connected products, sensors, and software. GRI 418 Customer 418-1 Substantiated complaints We had no material complaints concerning breaches of customer privacy and losses of customer data in 2022. Privacy 2016 concerning breaches of customer privacy and losses of customer data 78
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES 2023 SASB CONTENT INDEX DISCLOSURE TOPIC DISCLOSURE # ACCOUNTING METRIC EXPLANATION ELECTRICAL & ELECTRONIC EQUIPMENT INDUSTRY DISCLOSURES Energy Management RT-EE-130a.1 (1) Total energy consumed, (2) (1) Total energy consumed in 2022: 388,795,228 kWh percentage grid electricity, (3) (2) (3) This information is unavailable/incomplete; Hubbell is in the process of improving measurement of these metrics. percentage renewable Hazardous Waste RT-EE-150a.1 Amount of hazardous waste Total hazardous waste generated in 2022: 1,608 tons Management generated; percentage recycled Total hazardous waste recycled in 2022: 211 tons RT-EE-150a.2 Number and aggregate quantity of Hubbell had no reportable spills in 2022. reportable spills, quantity recovered Product Safety RT-EE-250a.1 Number of recalls issued; total units No products were recalled in 2022. recalled RT-EE-250a.2 Total amount of monetary losses as a We did not experience any monetary losses as a result of legal proceedings associated with product safety in result of legal proceedings associated 2022. with product safety Product Lifecycle RT-EE-410a.1 Percentage of products by revenue that Some of our products contain IEC declarable substances, however the volume/mass of these substances is not Management contain IEC 62474 declarable substances materially signi昀椀cant. RT-EE-410a.2 Percentage of eligible products, by 925 of our products met ENERGY STAR® criteria in 2022. revenue, that meet ENERGY STAR® criteria RT-EE-410a.3 Revenue from renewable energy- Hubbell’s Products with Impact support the transition to an energy e昀케cient and low-carbon economy through four related and energy e昀케ciency-related impact categories: grid modernization and hardening, resource e昀케ciency, renewable energy, and electri昀椀cation. Our products Products with Impact represented approximately 63% of our total sales in 2022. This calculation includes all sales from electrical utility T&D components and utility communications and controls, as well as products sold directly into solar and wind applications. It also includes products that support grid modernization and communications applications such as 5G/昀椀ber/broadband access and data centers. This calculation excludes sales from products sold into oil and gas markets, which enhance the safety of those applications. It also excludes sales from our broader portfolio of electrical products sold into various industrial, non-residential, and residential applications. • HUS enables the grid to conduct, communicate, and control energy across utility applications. Our critical utility T&D components harden critical infrastructure, enabling the grid to reliably transmit and distribute energy. In addition, HUS' utility communications and controls technologies provide data collection, analysis, and control capabilities that enable the management of energy T&D with consumption. By making the grid smarter and more 昀氀exible, our communications and controls solutions facilitate the integration of renewables and the electri昀椀cation of everything. • HES provides critical components that allow operators of buildings, factories, and other industrial infrastructure to connect, protect, wire, and manage power reliably and e昀케ciently. HES solutions increase the energy e昀케ciency of buildings and infrastructure, as well as support electri昀椀cation of sectors including transportation and manufacturing. Moreover, while our decarbonization-related products are salient to our business and our industry, we believe that our solutions also generate positive social and environmental impacts beyond our Products with Impact categories. These bene昀椀ts include enhancing safety, resource e昀케ciency, hardening of infrastructure, explosion prevention, and rural broadband access. For example, Hubbell Gas Utility Solutions o昀昀ers connectors and valves that both promote resource e昀케ciency and prevent gas leaks and spills. 79
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES DISCLOSURE TOPIC DISCLOSURE # ACCOUNTING METRIC EXPLANATION Materials Sourcing RT-EE-440a.1 Description of the management At Hubbell, we are committed to socially responsible sourcing of the materials included in our products. Our of risks associated with the use of Con昀氀ict Minerals Policy, which re昀氀ects the requirements of the Dodd-Frank Wall Street Reform and Consumer critical materials Protection Act (the Act), aims to prevent the use of con昀氀ict minerals that directly or indirectly 昀椀nance or bene昀椀t armed groups in The Democratic Republic of the Congo or adjoining countries. The Act requires our company to perform due diligence with respect to the sourcing of con昀氀ict minerals and to report annually on our potential use of con昀氀ict minerals and origin of such minerals. Our suppliers are responsible for following our Con昀氀ict Minerals Policy and the con昀氀ict minerals guidelines in our Third-Party Code of Business Conduct and Ethics and for passing these same requirements on to their suppliers. We also screen and audit our suppliers both onsite and virtually to assess potential quality, 昀椀nancial, security, social, and environmental issues or compliance risks, including risks related to the use of critical materials, con昀氀ict minerals, or human rights violations. Business Ethics RT-EE-510a.1 Description of policies and practices Our Board of Directors, Chairman, President and CEO, and SVP, General Counsel and Corporate Secretary for prevention of: (1) corruption and oversee the execution of ethical conduct. Our Code of Business Conduct and Ethics and other ethics and bribery and (2) anti-competitive compliance policies serve as guideposts for our behavior and management practices. The Code, which is behavior evaluated and updated on a regular basis, provides the framework for our conduct, our interactions with others, and our decision-making. It addresses our standards and policies for various matters, including con昀氀icts of interest, anti-corruption, and compliance with applicable law. The Code applies to our Directors, employees, and third parties, and it is the foundation on which our ethics and compliance policies are built. The Code is shared with all employees as part of our new hire onboarding process, and all employees and Directors are required to certify to the Code annually. We also provide monthly training for employees on tenets of the Code. RT-EE-510a.2 Total amount of monetary losses as a We did not experience any monetary losses as a result of legal proceedings associated with bribery or corruption result of legal proceedings associated in 2022. with bribery or corruption 80
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES DISCLOSURE TOPIC DISCLOSURE # ACCOUNTING METRIC EXPLANATION Activity Metric RT-EE-000.A Number of units produced by product HUBBELL UTILITY SOLUTIONS (HUS) TOTAL UNITS PRODUCED IN 2022 category HUBBELL BUSINESS UNIT UNIT OF MEASURE: EACH Aclara 45,863 Connected Initiatives 24,672 Hubbell Gas Utility Solutions 10,344,205 Hubbell Power Systems 160,763,744 Total HUS Units 171,178,484 HUBBELL ELECTRICAL SOLUTIONS (HES) TOTAL UNITS PRODUCED IN 2022 HUBBELL BUSINESS UNIT UNIT OF MEASURE: EACH Retail and Builder 7,874,717 Electrical Products 348,610,001 Light Industrial 363,570,080 Harsh & Heavy Industrial 8,706,079 Canada 63,104,799 Total HES Units 791,865,677 Total Units for Entire Company (HUS + HES) 963,044,160 NOTE: Note: Due to diverse products Hubbell o昀昀ers, which may be produced and sold in a variety of units including pounds, feet, packs, and cartons, we store all products in units of “Each.” Therefore, we utilize “Each” as our unit of measure for our production summary. Moreover, due to data aggregation challenges, the production summary above does not include products (i.e., in “eaches”) from select business units, including Aclara. The omitted units represent about 5-10% of our total production across all of Hubbell. We are continuing to re昀椀ne our process for collecting and analyzing this information. RT-EE-000.B Number of employees Total Employees as of December 31, 2022: 16,323 (headcount/FTE) NOTE: This is a global 2022 headcount that includes our joint venture employees. It does not include contingent workers and contractors. 81
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES 2023 TCFD CONTENT INDEX Hubbell considered the TCFD recommendations when creating this report. The index below provides information responsive to TCFD disclosures categories. DISCLOSURE FOCUS AREA DISCLOSURE DESCRIPTION EXPLANATION GOVERNANCE Disclose the organization’s a) Describe the board’s oversight of Hubbell’s Board of Directors provides overall risk oversight focusing on the most signi昀椀cant risks facing our company. governance around climate-related risks and opportunities The Board annually reviews the company’s risk pro昀椀le and assesses speci昀椀c key business or functional risk areas during climate-related risks and Board meetings throughout the year. The Board also oversees the risk management processes that are implemented by opportunities. our executives to determine whether these processes are functioning as intended and are consistent with our business and strategy as well as best practices. This includes oversight of ESG-related risks, such as climate change. Moreover, the Board receives periodic updates on environment, health, and safety and sustainability matters, including corporate- level climate-related goals on air emissions and water usage, at least twice per year. In the course of these discussions, a variety of topics may arise ranging from reducing the environmental impact from operations and products to considerations that may a昀昀ect merger and acquisition plans. In addition, the Board’s NCGC oversees the development and administration of Hubbell’s sustainability/ESG program. This includes overseeing our ESG strategy, evaluating progress on ESG performance, and supporting the integration of the management of climate-related issues (e.g., risks and opportunities) into our strategy and outlook. b) Describe management’s role in assessing At the executive level, our ESG Committee has responsibility for sustainability matters globally, including our and managing climate-related risks and sustainability strategy, initiatives, target-setting, performance, and reporting. The ESG Committee also considers opportunities climate-related risks and action plans and oversees alignment between our sustainability e昀昀orts and our overarching business objectives. Hubbell’s SVP, General Counsel and Secretary and CCO are the executive sponsors for the ESG Committee, and our Sustainability & ESG Manager serves as the ESG Committee lead. The ESG Committee meets at least four times per year, provides status updates to the NCGC, the Board, and Chief Executive O昀케cer Council (i.e., Hubbell’s cross-functional senior executive management team), the Chairman, President and CEO, and engages with other functional leaders throughout Hubbell who champion our ESG initiatives across the company. The ESG Committee is supported by cross-functional leaders that interact in a matrixed fashion. On a day-to-day basis, our Sustainability & ESG Manager takes the lead on coordinating the performance of our businesses on environmental and climate-related issues, together with the CCO and SVP, General Counsel and Secretary. This includes measuring our GHG emissions, supporting the establishment of our climate change targets (i.e., GHG goals), and monitoring our environmental impacts. Our SVP, General Counsel and Secretary, CCO, and Sustainability & ESG Manager are responsible for integrating the plans and processes arising from our operations and our supply chain into our overall sustainability program that also includes customer, employee, product technology, and other initiatives from across the company. In addition, our Chief Technology O昀케cer supports the development of products that enable sustainability- related bene昀椀ts for our customers, such as those that o昀昀er climate-related opportunities including energy e昀케ciency and renewable/clean energy technologies. Moreover, our Vice President, Investor Relations, provides support with our ESG disclosures for investors, customers, and other stakeholders, including climate change-related issues. 82
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES DISCLOSURE FOCUS AREA DISCLOSURE DESCRIPTION EXPLANATION STRATEGY Disclose the actual and a) Describe the climate-related risks and Hubbell's annual assessment of enterprise risks and regular business continuity planning, as well as strategic product potential impacts of opportunities the organization has initiatives, drive our processes for determining the risks and opportunities that may have a material 昀椀nancial impact climate-related risks and identi昀椀ed over the short, medium, and on our company over the short, medium, and long term. The time horizons we use to evaluate the impact of future opportunities on the long term risks and opportunities are de昀椀ned as follows: short term (0-1 years), medium term (1-3 years), and long term (3-10 organization’s businesses, years). Through the assessment process, Hubbell has examined physical risks as well as transition risks associated strategy and 昀椀nancial with the shift to a low-carbon economy. We have identi昀椀ed risks with the potential to have a strategic impact on planning. our business including increases in operating costs due to emerging climate-related regulations and carbon taxation schemes (short and medium term), as well as increased costs of raw materials, reduced sales, and potential impact on the supply of necessary products and services resulting from disruption caused by the increased severity and frequency of severe weather events, such as hurricanes, wild昀椀res, and 昀氀oods (short, medium, and long term). In addition to risks, we have identi昀椀ed opportunities that include reductions in operating costs resulting from e昀케ciency improvements in production and distribution processes (short and medium term), increased demand for lower- carbon products (short, medium, and long term), and increased sales through demand from new and emerging markets as potential regulatory and market drivers continue to grow the renewable energy market, which our products support (medium and long term). b) Describe the impact of climate-related risks In an e昀昀ort to mitigate the acute and chronic physical impacts of climate change on our operations (e.g., more severe and opportunities on the organization’s weather events), we have taken steps to voluntarily reduce our GHG emissions. Through our public disclosures, businesses, strategy, and 昀椀nancial planning we aim to in昀氀uence other companies to also reduce the environmental impacts of their operations. We have implemented business continuity and disaster recovery programs to ensure our physical operations and supply chains are taking steps to mitigate the risk and impact of interruption. In addition to physical risks, forthcoming GHG/climate change legislation that limits GHG emissions may impact our company's growth by increasing raw material costs and/or decreasing demand for products that do not support a low-carbon economy. Such regulations are expected to raise the costs of energy, therefore amplifying our business imperative to manage energy and emissions in light of the uncertain regulatory environment in this area. We have identi昀椀ed and leveraged opportunities to progress projects that improve operational e昀케ciency and engage with stakeholders to explore markets for environmentally preferable products, such as those that enhance energy e昀케ciency or enable renewable energy infrastructure. To that end, Hubbell's NPD team regularly engages with customers to assess ways we can help them achieve their business and sustainability objectives and in turn, develops new products and solutions that o昀昀er more sustainable outcomes. c) Describe the resilience of the organization’s While reducing our environmental impacts and performing in accordance with our sustainability goals is a priority strategy, taking into consideration di昀昀erent to our business, at this time we are still in the process of developing our climate change strategy, including our low- climate-related scenarios, including a 2°C carbon transition plan. We intend to use climate-related scenario analysis to inform our strategy and disclosures in or lower scenario the next 3-5 years once we have further evaluated our climate change risks and opportunities. 83
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES DISCLOSURE FOCUS AREA DISCLOSURE DESCRIPTION EXPLANATION RISK MANAGEMENT Disclose how the a) Describe the organization’s processes for Risk management is the responsibility of everyone at Hubbell, including our Board of Directors, who oversee risk organization identi昀椀es, identifying and assessing climate-related management activities. Members of senior management assist the Board and its committees with their risk oversight assesses, and manages risks responsibilities through routine discussions of risks involved in their speci昀椀c areas of responsibility—focusing on near- climate-related risks. term, medium-term, and long-term risks and opportunities that could have a substantive 昀椀nancial or strategic impact b) Describe the organization’s processes for on Hubbell's business. For example, our principal business leaders will report to the Board at regular intervals during managing climate-related risks the year on Hubbell's strategic planning activities and risks relevant to execution of the Hubbell's strategy, which may include strategic climate change-related activities in response to physical, regulatory, or transitional risks. In addition, c) Describe how processes for identifying, from time to time, independent consultants with speci昀椀c areas of expertise, including related to ESG matters, are assessing, and managing climate-related engaged to discuss topics that the Board and management have determined may present a material risk to Hubbell's risks are integrated into the organization’s operations, plans, or reputation. overall risk management As part of our risk management processes, Hubbell carefully monitors and evaluates the relevance of all policies, laws, and regulations applicable to environmental protection, energy use, and emissions to ensure compliance. Changes in regulation, such as energy e昀케ciency legislation, regulations that limit GHG emissions, or disclosure mandates (e.g., the forthcoming US SEC Climate Proposal), may impact growth by increasing capital, compliance, operating, and maintenance costs and/or decreasing demand. Violations of these laws could result in substantial penalties or sanctions as well as restrictions of markets due to inability to comply/cost of redesign to comply. Therefore, Hubbell assesses risks associated with both current and emerging regulations. Moreover, Hubbell's formal ERM program focuses on e昀昀ectively identifying, prioritizing, and mitigating a wide range of potential strategic and operational risks to the company, which may include climate-related risks (e.g., impacts from climate change, such as storm, 昀氀ood, and water implications). The ERM process is used to determine the risks and opportunities that may have a substantive 昀椀nancial or strategic impact on the company and informs decisions related to mitigating, transferring, accepting, or controlling identi昀椀ed risks, such as those related to climate change, and capitalizing on opportunities. The risk management team refreshes the ERM risks on an ongoing basis to capture evolving and emerging risks, which may include direct operational risks and risks outside of Hubbell's operations in our supply chain (both upstream and downstream) and in the market. In addition to identifying risks, the ERM also maps risks to controls and risk owners and establishes risk mitigation plans which are then executed by the business. The ERM process includes an annual survey of leaders from across the company to rank potential risks to the company. At least once per year the ERM leaders brief the Board on risk management activities. 84
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES DISCLOSURE FOCUS AREA DISCLOSURE DESCRIPTION EXPLANATION METRICS AND TARGETS Disclose the metrics and a) Disclose the metrics used by the Hubbell calculates Scope 1 and 2 emissions in accordance with the World Resource Institute (WRI) and the World targets used to assess organization to assess climate-related risk Business Council for Sustainable Development’s (WBCSD) GHG Protocol: A Corporate Accounting and Reporting and manage relevant and opportunities in line with its strategy Standard (Revised Edition). Currently, we do not disclose Scope 3 emissions. We are in the process of improving our climate-related risks and and risk management process data collection processes and intend to report our Scope 3 emissions and conduct assurance over our environmental opportunities. metrics in the future. Beyond our greenhouse gas emissions, Hubbell tracks our energy consumption, water usage, and waste generation. These metrics serve as key indicators of our company’s ESG performance, especially as it relates to our business operations and activities. Hubbell also calculates the percentage of total sales generated from low-carbon products to capture the extent to which our business is aligned with climate-related opportunities. b) Disclose Scope 1, Scope 2, and, if For details on our GHG performance and our full carbon inventory, please see page 68. In addition, our emissions and appropriate, Scope 3 greenhouse gas climate change-related risks are reported annually in our CDP Climate Change response and our sustainability report. To emissions, and the related risks view our annual CDP response, visit Hubbell’s 2022 CDP Climate Change disclosure. c) Describe the targets used by the Since we achieved our previous environmental goals in 2021, we established new goals to further reduce the organization to manage climate-related environmental impact of our operations. These goals, which are all compared to a 2022 baseline, include the risks and opportunities and performance following: against targets • Emissions goal: 30% reduction in Scope 1 and 2 emissions by 2030 • Water goal: 25% reduction in water usage by 2030 • Waste goal: 30% reduction in hazardous waste generation by 2030 To reduce our GHG emissions, water usage, and waste generation, we routinely review the e昀케ciency of our equipment, technologies, and processes, and look for ways to drive operational improvement. We have many on- going e昀케ciency improvement projects throughout our facilities and are continuing to identify initiatives that support progress toward our goals. 85
MESSAGE FROM ABOUT SUSTAINABILITY AT PRODUCTS WITH ENVIRONMENTAL SOCIAL GOVERNANCE AND GRI, SASB, AND TCFD OUR CEO HUBBELL HUBBELL IMPACT STEWARDSHIP RESPONSIBILITY ACCOUNTABILITY DISCLOSURES ABOUT THIS REPORT REPORTING GUIDELINES AND CONTENT business conditions, geopolitical conditions and changes in general economic conditions, This report summarizes our approach to managing our material sustainability such as economic slowdowns, in昀氀ation, higher interest rates, recessions, higher energy issues, which are listed on page 10. We prepared this report leveraging leading costs; our ability to o昀昀set increases in material and non-material costs through price sustainability reporting frameworks, including the GRI Standards, SASB, and TCFD. recovery and volume growth; e昀昀ects of unfavorable foreign currency exchange rates and the potential use of hedging instruments to hedge the exposure to 昀氀uctuating rates of INTERPRETATION foreign currency exchange on inventory purchases; the lingering impact of the COVID-19 pandemic, including ongoing supply chain issues; the outcome of contingencies or costs In this report, the terms “Hubbell Incorporated,” “we,” “us,” “our,” “Hubbell,” and compared to amounts provided for such contingencies, including those with respect the “company,” refer to Hubbell Incorporated, a Connecticut corporation, and its to pension withdrawal liabilities; achieving sales levels to meet revenue expectations; consolidated subsidiaries, taken as a whole, unless the context otherwise indicates. The unexpected costs or charges, certain of which may be outside the company’s control; terms “material” and “materiality” as used in this report and the materiality assessment the e昀昀ects of trade tari昀昀s, import quotas and other trade restrictions or actions taken referenced above are di昀昀erent from those terms as used in the context of 昀椀lings with the US by the US, UK, and other countries, including changes in US trade policies; failure to SEC. Issues deemed material for the purposes of this report or the materiality assessment achieve projected levels of e昀케ciencies, cost savings and cost reduction measures, may not be deemed material for SEC reporting purposes. including those expected as a result of our lean initiatives and strategic sourcing plans; Unless the context otherwise indicates or requires, all our product names, trade regulatory issues, changes in tax laws including multijurisdictional implementation of names, trademarks, registered marks, service marks, or logos used in this report are the Organisation for Economic Co-operation and Development's comprehensive base part of the company’s intellectual property, although the “®” and “TM” trademark erosion and pro昀椀t shifting plan, or changes in geographic pro昀椀t mix a昀昀ecting tax rates designations may have been omitted. All rights to such intellectual property are and availability of tax incentives; general economic and business conditions as well as reserved. This report contains additional trade names of other companies. We do in昀氀ationary trends; the impact of and the ability to complete and integrate strategic not intend the use or display of these trade names to imply any endorsement or acquisitions; the impact of certain divestitures, including the consummation and timing sponsorship of us by these companies. of, and the bene昀椀ts and costs of, the sale of the Commercial and Industrial Lighting business to GE Current, a Daintree Company; the ability to e昀昀ectively develop and SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS introduce new products, expand into new markets and deploy capital; and other factors Certain statements contained herein may constitute forward-looking statements described in our Securities and Exchange Commission 昀椀lings, including the "Business," "Risk Factors," “Management’s Discussion and Analysis of Financial Condition and within the meaning of the Private Securities Litigation Reform Act of 1995. These Results of Operations,” “Forward-Looking Statements,” and "Quantitative and Qualitative include statements about expectations regarding our 昀椀nancial results, condition and Disclosures about Market Risk" sections in the Annual Report on Form 10-K for the year outlook, anticipated end markets, near-term volume, our ability to continue delivering ended December 31, 2022 and Quarterly Reports on Form 10-Q. di昀昀erentiated results for our shareholders in 2023 and beyond, and all statements, including our projected 昀椀nancial results, as well as other statements that are not REPORTING UNCERTAINTIES strictly historic in nature. In addition, all statements regarding anticipated growth, Certain non-昀椀nancial information in this report, including, without limitation, product changes in operating results, market conditions, and economic conditions are forward- information, competitive position data, and market trends, has been prepared looking. These statements may be identi昀椀ed by the use of forward-looking words or internally and has not been veri昀椀ed by any third party. Non-昀椀nancial information phrases such as “believe,” “expect,” “anticipate,” “plan,” “estimated,” “target,” “should,” is subject to measurement uncertainties resulting from limitations inherent in the “could,” “may,” "subject to," “continues,” “growing,” “projected,” “if,” “potential,” “will,” nature and methods used for determining such data. The selection of di昀昀erent but “will likely be,” "intend to," "aim to," and similar words and phrases. acceptable measurement techniques can result in materially di昀昀erent measurements. Such forward-looking statements are based on our current expectations and involve The precision of di昀昀erent measurement techniques may also vary. In addition, numerous assumptions, known and unknown risks, uncertainties, and other factors certain industry and market data described in this report were obtained from which may cause actual and future performance or the company’s achievements to be industry and general publications and research, surveys, and studies conducted materially di昀昀erent from any future results, performance, or achievements expressed or by third parties. While we believe this information is reliable and appropriate, this implied by such forward-looking statements. Such factors include, but are not limited to: information has not been veri昀椀ed by any independent source. 86
