Labcorp Governance and ESG Overview

Labcorp Governance

The cornerstone of our governance philosophy is our highly qualified Board of Directors. We have a refreshment process that drives Board composition with a balance of skills, experiences, diversity and expertise to provide strong and broad oversight, practical experience and strategic vision.

We continue to develop and recruit a diverse pool of Board director candidates that aligns with Labcorp’s increased diversity and inclusion efforts among our employees and leadership.

Labcorp Board of Directors

Our Company

Adam Schechter

Chairman, President and CEO of Labcorp

Kerrii Anderson

Former CEO of
Wendy’s International

Audit Committee Chair
Nominating and Corporate Governance Committee

Jean-Luc Bélingard

Former Chairman and CEO of bioMérieux-Pierre Fabre; Operating Advisor to Clayton, Dubilier & Rice Vice President of Institut Mérieux

Compensation and Human Capital Committee
Quality and Compliance Committee

Jeffrey Davis

Chief Financial Officer of Qurate Retail Group

Audit Committee
Quality and Compliance Committee

D. Gary Gilliland, MD, PhD

President and Director Emeritus of the Fred Hutchinson Cancer Research Center

Audit Committee
Quality and Compliance Committee

Garheng Kong, MD, PhD

Managing Partner of HealthQuest Capital

Compensation and Human Capital Committee Chair
Nominating and Corporate Governance Committee

Peter Neupert

Former Operating Partner at Health Evolution Partners Inc.

Lead Independent Director Nominating and Corporate Governance Committee Chair
Audit Committee

Richelle Parham

President, Global eCommerce and Business Development of Universal Music Group

Compensation and Human Capital Committee
Nominating and Corporate Governance Committee

Kathryn Wengel

Executive Vice President,
Chief Global Supply Chain Officer, Executive Committee Member, Johnson & Johnson

Compensation and Human Capital Committee
Quality and Compliance Committee

R. Sanders Williams, MD

Professor of Medicine and Senior Advisor for Science and Technology at Duke University
President Emeritus of the
J. David Gladstone Institutes

Quality and Compliance Committee Chair
Audit Committee

Labcorp Board of Directors Demographics

ESG Overview and Materiality Assessment

Labcorp Environment, Social and Governance (ESG)

Labcorp embraces our responsibility for ESG matters. In 2020, we created the ESG Steering Committee to lead our strategic direction on key ESG topics. The ESG Steering Committee is comprised of cross-functional senior management members who assist Chairman and CEO Adam Schechter, the Executive Committee and the Board of Directors in setting overall ESG strategy and recommend policies, practices and disclosures that correspond with our strategy.

Our ESG Steering Committee provides leadership, guidance and support for establishing and delivering short and long-term initiatives, strategy, and commitments that make a positive global impact across our business units, geographies and functions. We do this by examining our operations in terms of the environment, employee health and safety, corporate social responsibility, corporate governance, sustainability and other relevant public policy matters.

2021 ESG Steering Committee Accomplishments Included:

Defined environment, health and safety mission, and principles
Conducted an ESG Materiality Assessment and determined material focus areas
Established sustainability drivers, key functions and actions
Assessed and organized enterprise safety, energy and water, and emissions data for aggregated reporting
Earned the following sustainability rankings by respected third-party bodies:
◦ Committed to the Science-Based Targets Initiative
◦ Carbon Disclosure Project: B-
◦ EcoVadis: Bronze
Achieved the following safety and governance accomplishments:
◦ 1.6 work-related injuries per 100 employees
◦ Created processes for establishing Materiality Assessment and evolving its mapping and related governance reporting into the future
Published 2020 Corporate Responsibility Report
Affirmed existing Safety, Social and Governance initiatives

ESG Leadership Spotlight

Sandra van der Vaart

As an industry-leading organization, we strive to leverage our global reach to do good by our people, our customers and the communities in which we live, work and have a daily impact.

To hold ourselves accountable to the high standards of which we aspire to meet and exceed, we formed the ESG Steering Committee in 2020. By establishing a robust governance framework implemented through key Labcorp leaders across the organization, our strategic direction is more purposeful and focused on key ESG topics of importance to all our stakeholders and where we can have the greatest impact.

While still in its relatively early stages, we can already see the positive impact and meaningful changes we set out to make in the world as outlined throughout this year’s corporate responsibility report.

As a company, our mission is to improve health and lives. Our commitment to ESG is an important component of that mission. Looking ahead, our near-term efforts will prioritize further establishing metrics and milestones to drive progress as well as on key initiatives in ESG through our science-based targets process, as well as strengthening and solidifying our diversity and inclusion framework and priorities.

Ultimately, the positive impact we can make as a company stems from our people. I know our employees are working tirelessly and with tremendous dedication to do good for the world where it matters most.

Sandra van der Vaart
Executive Vice President, Chief Legal Officer, Chief Compliance Officer and Corporate Secretary

Materiality Assessment: Evolving Labcorp’s Reporting Transparency and Disclosures

Enhancing Labcorp ESG reporting has been a core focus for our executive leadership team.

As a leading global life sciences company, we understand the importance of being transparent in outlining the most important ESG topics related to our business impacts.

In 2021, Labcorp conducted an ESG Materiality Assessment to identify and prioritize the issues that reflect the most significant environmental, social and governance impacts to our stakeholders.

The Materiality Assessment Identified 18 ESG Issues as Central to Labcorp

Affordability and Fair Pricing
Animal Care and Welfare
Business Ethics
Community Relations
Corporate Governance
Cybersecurity
Diversity and Inclusion
Employee Engagement, Recruitment and Retention
Employee Well-being

Energy Management
Global Privacy
Greenhouse Gas Emissions
Human Rights
Manufacturing and Supply Chain Quality Management
Quality and Patient (Client) Satisfaction
Safety of Clinical Trial Participants
Waste Management
Water Use

The Materiality Assessment assessed importance in alignment with applicable principles and criteria outlined by reputable standards, including from the Global Reporting Initiative, Sustainability Accounting Standards Board and the Task Force on Climate-Related Disclosures .

The assessment results will inform our corporate responsibility strategy and reporting for 2022 and beyond.