28 Environmental 4. CLIMATE RISK ASSESSMENT & DISCLOSURE In 2021, we conducted a climate risk assessment as part of the company’s risk assessment process (which is presented to the Board annually) for the first time, led jointly by our Internal Audit and Sustainability teams. This evaluation looked at a range of climate risks, including: physical, product and services, and transitional (governance) risks. This analysis illustrated that the climate risks we assessed are either mapped to risk mitigation strategies already in place or underway, or were not deemed material to the business. There were no material climate risks that were identified for Netflix through this analysis. We used external sources ( TCFD , IPCC AR5 , COSO framework specific to ESG ) to build the initial climate risk framework, and also leveraged Datamaran (software for ESG risk, regulation, and reporting) to perform a gap analysis. We also worked in 2021 to pilot integrating climate risk analysis into our real estate evaluation and acquisition systems across the company and are in the process of integrating sustainability considerations- including climate risk assessments- into our standard business operations and processes. In July 2021, we responded to the Carbon Disclosure Project (CDP) investor questionnaire, joining thousands of other reporting companies. CDP makes our 2020 submission available to investors upon request.