VF : SUSTAINABILITY & RESPONSIBILITY REPORT 2023

1. CEO Message
2. About This Report
3. About
4. Overview

1. Highlights
2. Governance

1. Progress

1. People
2. Talent

22 Inclusion, Diversity, Equity & Action

1. Foundation

1. Human Rights

1. Planet
2. Climate

1. Energy

1. Waste

1. Water

1. Materials

1. Product
2. Stewardship
3. Chemistry

1. Circularity

1. Traceability

1. Appendix
2. Data

1. TCFD

1. GRI

1. SASB

In our new Environmental & Social Responsibility Report, we have consolidated what was once two separate publications into one comprehensive communication on VF's accomplishments for the planet and people. Mobilizing around our Inclusion, Diversity, Equity & Action (IDEA) platform, which is a strategic business priority globally and an essential element of our success, our employees drove meaningful impact in the workplace and their communities through our 23 Employee Resource Group chapters across the globe. At the same time, we increased the percentage of women and of Black, Indigenous and People of Color in VF leadership in FY23, making notable progress against these aspirational goals and others.

In FY23, we also strengthened our efforts to protect our planet. We initiated one of the industry's largest renewable energy tax equity investment in the footwear and apparel industry to fund the development of four

utility-scale solar projects. In FY22, we achieved 80% of our goal to source 50% recycled polyester by FY26 and completed our largest and most efficient distribution center to date in California with LEED Gold certification for building design and construction.

With a focus on the sustainable materials that go into our products, we announced the launch of new product collections by the Vans®, Timberland® and The North Face® brands that will feature regeneratively- sourced natural rubber. We also continued to emphasize circular design within brand innovations like the Smartwool® brand's first fully circular sock, the Second Cut™ Hike sock, made with repurposed yarn, and The North Face® brand, which launched a new collection of Circular Design products.

We continue to use our scale, influence and insights to benefit the lives of community members and workers throughout our global supply chain. In FY23 alone,

more than 170,000 people across seven countries were reached through VF's Worker & Community Development program, and we continue to uphold our commitments to fundamental worker rights and health and safety standards with product suppliers.

As I reflect on all our teams achieved in the past year, I'm filled with optimism about how much more we can accomplish in the years to come. And I'm extremely grateful and proud to be part of it.

Sincerely,

Bracken Darrell, VF Corporation

CEO and President

About this Report

Data primarily covers FY23: April 3, 2022 through April 1, 2023.1

Reporting is in line with the following internationally recognized frameworks and standards:*

• Prepared with reference to the Global Reporting Initiative (GRI) Standards 2021.
• Aligned with the Sustainability Accounting Standards Board (SASB) Apparel, Accessories & Footwear Standard 2018.
• Informed by the Task Force on Climate-related Financial Disclosures (TCFD), United Nations Sustainable Development Goals (UN SDGs) and UN Guiding Principles Reporting Framework (UNGPRF).

Related Reports and Resources

Visit the Reporting and Data page on our corporate website to access previous VF environmental and social reports, publications and consolidated year-over-year data, including, but not limited to:

* See the Appendix section of this report for specific data and reporting tables.

Forward-Looking Statement on Climate-Related Disclosures

Climate-related science, data and methodologies are rapidly evolving; those underlying our climate-related analysis and strategy remain subject to evolution over time. While we expect to continue making progress toward our environmental goals, our goals are subject to certain risks and challenges that are beyond our control, including political, economic, regulatory and geopolitical conditions; supply chain and labor issues; supplier emissions reductions; the evolution and applicability of carbon offset and renewable energy credit markets; the applicability of limited large-scale investments and innovations in technology and infrastructure; and the evolution of greenhouse gas accounting standards and methodologies. Unless otherwise specified, all information (including forward-looking information) speaks only as of the date on which it is made, and we disclaim any obligation to update or delete any outdated information contained in this document or in our website materials. See the additional note on Page 85.

3K+

EMPLOYEES

completed VF's foundational Inclusion and Diversity 101 learning course since launch.

~9K kg

of single-use plastic diverted from

landfills by seven VF brands participating

in the Naked Delivery Packaging

pilot program.

80%

of VF's FY26 target to source 50% of its polyester from recycled materials has been achieved as of FY22.

47K MWh

OF RENEWABLE

ENERGY

expected to be generated from VF's investments in utility-scale solar projects in South Carolina.

5

FOOTWEAR

DESIGN

WORKSHOPS

launched in New York City by CNSTNT:DVLPMNT and the Timberland® brand to

1K+

46K+

HOURS

volunteered by VF and

brand employees in FY23.

1.5K

SUPPLIER FACTORY

MANAGEMENT STAFF

completed VF's Child Rights Awareness and Child Labor Prevention training program.

nurture the next generation

of creatives.

SUPPLIER

FACTORIES

covered in a new supply chain water risk assessment.

1M+

SOCKS COLLECTED

by the Smartwool® brand's

Second Cut™ program.

$

$10.2M+

CONTRIBUTED

in monetary and product donations by VF in FY23.

10M+

PEOPLE

reached through

The VF Foundation

since 2002.

72%

of VF's global wool supply chain traced in FY23, from farm to finished product.

Our Executive Leadership Team (ELT) is responsible for VF's environmental and social responsibility strategies and targets. VF's Vice President (VP) of Global Sustainability, Responsibility and Trade, and VP of Global Inclusion, Diversity, Equity & Action (IDEA) oversee day-to-day implementation and provide progress updates to the ELT at least four times per year. Progress on sustainability and responsibility initiatives is reported biannually to the Governance and Corporate Responsibility Committee of the Board of Directors. Progress on IDEA initiatives is reported annually to the full Board. All brand presidents report annually to VF's ELT on their individual brand's environmental and social responsibility progress.

For information about how VF develops its environmental and social responsibility policies, please see the Appendix, Page 76. To access our policies governing these topics internally and externally, see our Policies and Standards webpage.

Among the Board's key responsibilities is overseeing VF's corporate strategy. The full Board engages with senior VF leaders on the company's strategy, including plans for our brands, the competitive environment, sustainability initiatives and human capital management, which includes matters related to inclusion, diversity and equity. Additionally, the Governance and Corporate Responsibility Committee of the Board oversees key strategies, programs, policies and risks related to the sustainability and social responsibility impacts of VF's businesses, including sustainability policies and initiatives to address climate change risks.

Policies and Standards

Good governance depends on clear policies and standards that provide informed guidance. That's why we often seek input from external stakeholders to help shape the development of our environmental and social responsibility policies and provide applicable training to VF's employees and business partners.

Ethics and Integrity

At VF, living with integrity is foundational to our success. Guided by our Principles, we act with integrity, empathy and perseverance.

The intent of our Ethics and Compliance program is to enable and support all employees to understand and follow VF's expectations for ethical business conduct embodied in our Guiding Principles and Code of Business Conduct.

Ethics Training and Engagement

VF's Ethics and Compliance team partners with VF leadership to demonstrate ethical leadership at every level while leveraging tools and communications to drive integrity throughout our organization. Our BEYOND Ethics and Compliance training program focuses on increasing employee engagement through learning opportunities that are relevant to their work, relatable to their experiences and include rewarding social elements.

The Ethics and Compliance team partners with other internal teams to develop employee survey

questions focused on Ethics & Compliance indicators and then leverages survey insights, including from VF's annual employee culture survey and more frequent pulse surveys, to identify issues and create solutions in real-time.

Stakeholder Engagement

We've established meaningful relationships with a wide range of stakeholders to help us determine the best approaches to make a positive impact across our business operations. In FY23, VF participated in over 100 stakeholder engagements across a spectrum of key topics, from women's rights to circularity.

The stakeholders with whom we collaborate have a vested interest in how we operate. They're our employees, investors, customers, suppliers, communities, consumers and others who regularly interact with VF. They also include organizations, such as nongovernmental organizations (NGOs), that advocate for a healthy planet and better lives. We actively engage with all these groups to better understand how we can meet their expectations and, together, embrace opportunities to make progress.

Advancing Our

Speak Up Culture

In FY23, we continued our Speak Up Culture campaign, which encourages employees to share ideas or concerms and to speak up without fear of judgment or retaliation. The campaign included:

• Training to help leaders learn how to support a speak- up culture within their teams.
• Communications to increase awareness of speak- up resources.
• Listening sessions in which employees shared perceived barriers to speaking up and suggested changes that would help them feel more comfortable speaking up in the future.

For further details about our efforts to prioritize integrity, including information on our anti-corruption program and Ethics Helpline, please see the Appendix, Pages 77 - 78.