Kenvue Releases Inaugural Healthy Lives Mission Report

Maker of iconic brands such as Neutrogena^®, Listerine^®, Aveeno^® and Tylenol^® shares progress on its Environmental, Social and Governance goals in first year as an independent company.

Kenvue Inc. (NYSE: KVUE) (“Kenvue” or the “Company”), the world’s largest pure-play consumer health company by revenue, today released its first-ever Healthy Lives Mission Report and shared how the Company advanced the well-being of both people and planet in 2023.

“We recognize that human health is inseparably linked to environmental health and our commitment to everyday care extends to the planet we call home,” said Thibaut Mongon, Chief Executive Officer. “As we established Kenvue as an independent company, we also recommitted to our Healthy Lives Mission, our Environmental, Social and Governance strategy, and positioned our portfolio of iconic brands and Kenvuers around the world to build lasting positive change.”

In 2023, the Company deployed its science, operations, team members and brands to advance its Healthy Lives Mission focused on nurturing healthy people, enriching a healthy planet and maintaining healthy practice.

“In the past year, we have made meaningful progress with our Healthy Lives Mission, reduced our greenhouse gas (GHG) emissions and virgin plastic footprint, advanced the sustainable sourcing of paper, and developed values-led policies and programs to positively impact individuals and communities,” said Pamela Gill-Alabaster, Global Head of ESG & Sustainability. “As a global leader in consumer health, we will continue to draw on our brands, resources and platforms to help shape a healthy future for both people and planet.”

Highlights from the inaugural report include:

Healthy People: Kenvue equipped the communities in which it operates with innovative products and actionable information to make healthier decisions.

• We start with our team and take actions every day to foster an inclusive, equitable and diverse workplace culture and to create a sense of belonging for all. We’re committed to strengthening representation at all management levels.¹ At the end of 2023, our global workforce was approximately 50% male and 50% female, and 36% of our U.S. employees identified as racial or ethnic minorities.²
• Through diversity of backgrounds and perspectives, we collaborated on innovations and product experiences that reflect the needs of our global consumers, including the Neutrogena^® Purescreen+™ Mineral UV Tint Face Liquid Sunscreen range in the U.S. designed to be inclusive of varying skin tones with four flexible shades and the Johnson’s^® Blackinho Poderoso line in Brazil for children with curly hair.

Healthy Planet: Kenvue helped safeguard the earth’s health and resources while managing the impacts it created.

• Investments in energy efficiency and decarbonization projects have resulted in Scope 1 and 2 GHG^3,4,5 reductions of 26% since 2020.
• We’ve increased our use of renewable electricity⁶ to 65% through 18 onsite solar-powered electricity systems and offsite renewable electricity⁶ procurement contracts.
• Using circular economy design principles, we increased our use of recyclable⁷ or refillable⁸ packaging⁹ to 71% of our portfolio and reduced the volume of virgin plastic¹⁰ in packaging⁹ by 21%.
• Of our total paper and wood fiber packaging,¹¹ 94% of the volume sources were certified¹² or verified recycled¹³ paper and wood fiber.

Healthy Practice: Kenvue also continued to promote a culture of integrity, ethics and transparency to build trust and create meaningful, long-term value.

• We’re committed to optimizing the environmental performance¹⁴ of our products using scientific lifecycle design principles¹⁵ and tools such as our Sustainable Innovation Profiler (SIP), which aims to future-proof products by promoting the adoption of sustainable ingredients and packaging materials in our innovation process.
• We’re expanding access to product information through digital platforms and technologies like our Neutrogena^® Glossary of Ingredients and Johnson’s^® Baby digital transparency tool with the intention of empowering consumers to make the best choices for themselves and their loved ones.

To read the Kenvue Healthy Lives Mission 2023 Report, visit www.kenvue.com/hlm-report-2023.

About Kenvue

Kenvue is the world’s largest pure-play consumer health company by revenue. Built on more than a century of heritage, our iconic brands, including Aveeno^®, BAND-AID^® Brand, Johnson’s^®, Listerine^®, Neutrogena^® and Tylenol^®, are science-backed and recommended by healthcare professionals around the world. At Kenvue, we believe in the extraordinary power of everyday care and our teams work every day to put that power in consumers’ hands and earn a place in their hearts and homes. Learn more at www.kenvue.com.

Cautions Concerning Forward-Looking Statements

This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding the Company’s climate goals and its Healthy Lives Mission. Forward-looking statements may be identified by the use of words such as “plans,” “expects,” “commits,” “will,” “anticipates,” “estimates” and other words of similar meaning. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Kenvue and its affiliates.

A list and descriptions of risks, uncertainties and other factors can be found in Kenvue’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and subsequent Quarterly Reports on Form 10-Q and other filings, available at www.kenvue.com or on request from Kenvue. Kenvue and its affiliates undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or developments, or otherwise.

¹ All management levels including manager, director, vice president and above.

² Asian, Black/African American, Hispanic/Latino, Other Ethnic Racial Diversity; 2+ more races, NH/PI, AI/AN (Native Hawaiian or Pacific Islander, American Indian or Alaska Native). Workforce composition metrics are derived from data collected in connection with EEO-1 reporting.

³ Applies to all Kenvue-owned facilities where Kenvue has operational control, regardless of building type; all leased facilities used for manufacturing and/or research and development; and leased, non-manufacturing and/or non-research and development facilities where the facility is greater than 50,000 square feet and where Kenvue has operational control. The 2020 baseline and all subsequent reporting years include all facilities aligned to Kenvue’s structure upon separation from Johnson & Johnson in 2023 and do not include any operational or organizational exclusions. Scope 1 are greenhouse gas (GHG) emissions that Kenvue directly generates – e.g., running boilers and vehicles using fossil fuels. Fleet emissions are reported as CO₂ and do not include other greenhouse gas emissions. Scope 2 are GHG emissions that Kenvue indirectly generates – from electricity or energy purchased for heating and cooling buildings.

⁴ The inventory was compiled in accordance with the WRI/WBCSD Greenhouse Gas (GHG) Protocol – A Corporate Accounting and Reporting Standard (Revised Edition 2013) including the amendment to this protocol, GHG Protocol Scope 2 Guidance (2015).

⁵ The target boundary includes land-related emissions and removals from bioenergy feedstocks.

⁶ Renewable energy source is an energy source that is capable of being replenished in a short time through ecological cycles or agricultural processes (e.g., biomass, geothermal, hydro, solar, wind). Renewable electricity targets are achieved through a combination of actions, including on-site solar, virtual power purchase agreements (VPPAs), direct power purchase agreements (PPAs), energy attribute certificates (EACs), also known as renewable electricity certificates (RECs), and green retail contracts.

⁷ Recyclable also defined as recycle-ready is when packaging is designed for collection, sorting, and recycling using end-of-life processes, but where collection, sorting, and recycling infrastructure may not yet be in place for the packaging to actually be recycled. Best practices of “designing for recyclability" guidance for plastic-based packaging include the Association of Plastics Recyclers in the United States. Note: "Designed for recycling," "designed for recyclability," and "recycle ready" are also used interchangeably and reflect the same meaning.

⁸ Kenvue defines refillable or reusable packaging as packaging that is designed for either the business or the consumer to put the same type of purchased product back into the original packaging, is designed to be returnable and/or refillable, and accomplishes a minimum number of reuses by being part of a system that enables reuse.

⁹ Packaging for direct purchases, may not include all externally manufactured products. Total weight of plastics packaging is calculated utilizing 2024 Business Plan volume and is not trued up to actual sales. Manual adjustments of <10% were made to 2024 Business Plan volume based on SME judgment to remove materials not assumed to contain plastics.

¹⁰ Virgin plastic means newly manufactured resin produced from petrochemical feedstock used as the raw material for the manufacture of plastic products and which has never been used or processed before.

¹¹ Volumes include direct purchases of primary and secondary packaging and leaflets. Volumes do not include the packaging materials sourced in some externally manufactured products.

¹² Certification schemes accepted by Kenvue include FSC^® or PEFC chain of custody standard, only when FSC^® is not available.

¹³ Recycled includes both post-consumer and post-industrial recycled content; Verification of recycled content is conducted by an external third party (for example, Preferred by Nature). The information provided herein includes data from suppliers. While we strive to ensure the accuracy and completeness of this data, we recognize there may be limitations to its accuracy or comprehensiveness.

¹⁴ Improved environmental performance is defined as improvement in one or more of the four pillars, with no regression compared to the baseline product, measured using Kenvue’s Sustainable Innovation Profiler (SIP).

¹⁵ Scientific principles are defined across four pillars – carbon footprint, green chemistry, sustainable packaging, and product environmental footprint.

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