At Macy’s, Inc., we have a deep sense of stewardship for managing our resources and maximizing our positive social impact. We proactively engage on issues that span the breadth of our operations—this includes transparency, product responsibility and supply chain management, energy management, diversity and inclusion and building resilient communities. Operating by these principles enables us to create value for our shareholders while addressing the shared needs of society. What we do, what we stand for and how we get the work done are all equally important equally important. We have a cohesive strategy that focuses on our culture and providing our people with the programs and support that matter the most to their professional growth and development. Our Approach to Sustainability Our Guiding Principles Environment We will manage the environmental impact of our business, including our supply chain and suppliers, as well as our stores and distribution network. Social We will optimize the positive social impact our business has on our colleagues, customers and communities. Governance We will continue to ensure strong governance so that we are held accountable to all stakeholders and contribute to long-term value creation. We practice continual stakeholder engagement, including with our colleagues, customers and communities to understand our material issues, building on the work of our 2018 formal materiality assessment. We are guided in our actions and our reporting by our stakeholders and third-party frameworks including the Sustainability Accounting Standards Board (SASB) multiline and specialty retailers and distributors standard. We are committed to fostering a sustainable business that generates value for all our stakeholders and offers our colleagues and communities an opportunity to participate in positive value creation. | Sustainability Report 2020 Return to Table of Contents 7