Sustainability Governance We have embedded environmental, social and governance management at all levels of our company. Macy’s, Inc. management is responsible for the development and implementation of our Environmental, Social and Governance (ESG) strategies and programs. Ultimate oversight by our Board of Directors is included in its committee charters and practices. Macy’s, Inc. Board of Directors Responsible for oversight of corporate strategy, enterprise risk management framework, corporate governance policies and human capital management. Nominating and Corporate Governance Committee Compensation and Management Development Committee Audit Committee Responsible for overseeing the programs, policies and practices relating to political, social and environmental issues, impacts and strategies. Assesses adequacy and effectiveness of management’s ability to monitor, manage and mitigate ESG risks. Responsible for the development and enhancement of Macy’s approach to corporate governance including Board diversity. Responsible for assessing corporate governance policies and guidelines. Responsible for overseeing the company’s human capital strategy and initiatives in support of a diverse and inclusive company culture. Reviews and provides guidance on the enterprise talent and people strategies and provides guidance on other programs and initiatives such as labor relations, compensation and colleague engagement. Responsible for overseeing enterprise risk management and mitigation actions for a variety of risks, including certain environmental, operational, IT, compliance and reputational risks. Reviews ESG disclosures in our public filings. Macy’s, Inc. Chairman of the Board and Chief Executive Officer Sets the sustainability and human capital management vision and drives accountability across the organization. Sustainability Executive Steering Committee Disclosure Committee Diversity and Inclusion Business Council Corporate Strategy Group Made up of heads of Supply Chain, Legal, Communications, and the Corporate Controller Made up of leaders in Finance, Legal, Investor Relations and Communications Made up of leaders from every department and division as well as the Diversity and Inclusion team Made up of leaders of all of our operating and functional divisions ESG mandates are included in the charters of the Board’s committees: Management committees, under the direction and supervision of the CEO include: The Chief Financial Officer working with the Disclosure Committee engages with stakeholders on ESG issues and provides feedback to management and the Board. The Chief Supply Chain Officer reports directly to the Chief Executive Officer and is responsible for the teams that manage sustainability initiatives and supply chain transparency. The Sustainability Executive Steering Committee, Disclosure Committee and Corporate Strategy Group also approve the sustainability strategy and priorities, guide risk management and link to growth opportunities. The Diversity and Inclusion Business Council, Disclosure Committee and Corporate Strategy Group work together to maintain the company’s performance-driven culture and operating model that encourages lifelong learners and empowers colleagues to be leaders regardless of title or function. | Sustainability Report 2020 Return to Table of Contents 10