Dell Technologies : FY24 ESG Report

Environmental,

Social and

Governance

Report

Dell Technologies FY24 ESG Report

At Dell Technologies, our purpose is to create technologies that drive human progress.

Our commitment to advance sustainability, cultivate inclusion, transform lives and uphold trust is core to who we are and how we deliver technology that propels business and society forward.

Our environmental, social and governance (ESG) strategy and this report are how we turn this commitment into action, holding ourselves accountable to drive greater impact for business, people and the planet.

Table of contents

INTRODUCTION
A message from our	4
Chairman and CEO
A message from our VP,	5
Corporate Sustainability and ESG
Our business	6
Awards and recognition	7
Goals dashboard	8
ESG materiality	11
Stakeholder engagement	13
Reporting frameworks	14

ENVIRONMENTAL
CLIMATE ACTION	15
Strategy	16
Greenhouse gas inventory	18
Product carbon footprint	21
Innovation	23
Supply chain environmental	24
management
CIRCULAR ECONOMY	28
Product lifecycle	30
Circular design	31
Product materials	33
Sustainable packaging	35
Recovery and recycling	37

SOCIAL
DIGITAL INCLUSION	39
Community engagement	41
Global partnerships	43
Technology innovation	45
Future-ready skills	46
INCLUSIVE WORKFORCE	47
Workplace	48
Workforce	51
Accountability	53
Marketplace	54
HUMAN RIGHTS	55
Salient risks	56
Supply chain responsibility	58
Continuous improvement model	59
Responsible labor practices	62
Health, safety and worker rights	63
Responsible minerals sourcing	65
Supplier diversity	66

GOVERNANCE
TRUST	67
Security	68
Privacy	71
Ethics	72
Corporate governance	75
Board and ESG governance	75
Risk assessment	77
Public policy	79

BY THE NUMBERS	80
Performance metrics	81
Supply chain audit results	96
APPENDIX	99
About this report	100
ESG goals and key drivers	102
methodology
Reporting frameworks index	106
Glossary	111
Endnotes	115

A message from our Chairman and CEO

A lot has changed in the 40 years since I first launched Dell from a University of Texas dorm room, but what hasn't changed is our commitment to creating technology that drives human progress. In fact, our mission is more powerful and important than ever.

From the PC to the internet to the cloud, we've helped customers put their data to work to drive incredible outcomes. Now, with generative AI it feels like the last few decades have just been the pregame show. AI will revolutionize how we live and work, and it will drive unprecedented advances across every domain of human endeavor. From education to healthcare to physics, AI will help deliver radical progress and productivity.

We need to work together to ensure AI lives up to its potential by encouraging responsible use and ensuring its application is as beneficial to people and our planet as possible. The evolving regulatory environment is on the minds of our customers, partners, suppliers and investors.

Sustainability and ESG commitments are now widely recognized as business imperatives that impact everything from supplier decisions to business strategy. At Dell, we are both meeting our goals and helping customers meet theirs.

In the following report, we hold ourselves accountable and share progress against our commitment to create positive business, social and environmental impact.

Dell Technologies is rooted in innovation and progress, and this brings exciting opportunities for collaboration across our ecosystem of customers, partners and team members. Together, we can realize our greatest ambitions and do it responsibly.

We're here to support you and are grateful for the opportunity to partner with you.

Michael Dell

Chairman and CEO

Dell Technologies

"We need to work together to ensure AI lives up to its potential by encouraging responsible use and ensuring its application is as beneficial to people and"our planet as possible.

INTRODUCTION	CLIMATE ACTION	CIRCULAR ECONOMY	DIGITAL INCLUSION	INCLUSIVE WORKFORCE	HUMAN RIGHTS	TRUST	BY THE NUMBERS	APPENDIX
Messages from our leadership	Our business	Awards	Goals dashboard	ESG materiality	Stakeholder engagement	Reporting frameworks

Dell Technologies FY24 ESG Report 4

A message from our VP, Corporate Sustainability and ESG

We actively support our customers and partners in achieving their goals while making a lasting impact for business, people and the planet.

Our approach includes embedding Sustainability and Environmental, Social and Governance (ESG) throughout our value chain and technology stack. We engage our supply chain to drive emissions reductions, use innovative materials and takeback programs to advance the circular economy and collaborate with nonprofits with the aim to bring everyone access to the benefits of technology.

Our FY24 ESG Report is one way we're holding ourselves accountable against our ambitious goals for 2030 and beyond, and we continue to invest in initiatives that apply our technology, scale and talented workforce to address complex challenges like climate change, accelerating the circular economy, creating inclusive workplaces and addressing the digital divide. ​

Our FY24 highlights include:

• Closing in on our packaging goal, with 96.4% of packaging across our entire product portfolio made with recycled or renewable materials.
• 949,000 hours of volunteer work logged by our team members, spanning community projects such as park cleanups to skill-based work through the Pro Bono program.  
• Over 396 million people benefiting from our digital inclusion programs, partnerships and innovation since FY20. These efforts provide access to technology, connectivity, digital skills and support for under- resourced communities around the world.
• Receipt of a platinum EcoVadis 2023 medal for scoring in the top 1% of companies assessed across four major themes: environment, labor and human rights, ethics and sustainable procurement.
• Launched more products featuring recycled, renewable and reduced carbon emissions materials. In FY24, we used over 43 million kg (95 million lbs) of sustainable materials in our products and were the first in the industry to ship certified 50% recycled content steel in our displays.

Underpinning all these highlights are our continued partnerships and collaboration inside and outside our organization. And as we explore the opportunities and address the environmental and social impacts that come with AI, we will continue to work alongside and support our customers, partners and communities.

The next phase of how we use technology to create meaningful impact, build trust and create a more sustainable and inclusive world for everyone is a phase unlike any before, and one we're excited to embark on together.

Cassandra Garber

Vice President, Corporate

Sustainability and ESG

INTRODUCTION	CLIMATE ACTION	CIRCULAR ECONOMY	DIGITAL INCLUSION	INCLUSIVE WORKFORCE	HUMAN RIGHTS	TRUST	BY THE NUMBERS	APPENDIX
Messages from our leadership	Our business	Awards	Goals dashboard	ESG materiality	Stakeholder engagement	Reporting frameworks

Dell Technologies FY24 ESG Report 5

Our business

Dell Technologies' integrated solutions help customers modernize their IT infrastructure, manage and operate in a multicloud world, address workforce transformation, and provide critical solutions that keep people and organizations connected.

99%

of Fortune 500 served as of FY24

$88.4B	$2.8B
in FY24 revenue	invested in R&D in FY24

170+

approximate number of countries Dell operates in globally

No. 1

in client business, high-end gaming, purpose- built backup appliance, workstations, server, storage software, PC monitors, external storage, hyperconverged and converged systems*

*Client PC & upsell revenue statistic calculated by Dell Technologies primarily by utilizing other PC OEMs' financial public filings, as of Q4 FY24; Workstations (Units) - IDC WW Quarterly Workstation Tracker CY23Q4; PC Monitors (Units)

• IDC WW Quarterly Monitor Tracker CY23Q4; High-end Gaming (Units) - IDC Quarterly Gaming Tracker, CY23Q4, $1,500+ price band; Server (Units) - IDC WW Quarterly Server Tracker CY23Q4; External Storage (Revenue) - IDC WW Quarterly Enterprise Storage Systems Tracker CY23Q4; Storage Software - IDC WW Storage Software and Cloud Services Tracker CY23Q4 and includes archiving software, data replication and protection software, software-defined storage controller software, and storage infrastructure and device management software; PBBA - IDC WW Purpose-Built Backup Appliance (PBBA) (Revenue) CY23Q4; Hyperconverged Systems (HCI) (Revenue) - IDC WW Quarterly Converged Systems Tracker CY23Q4.

No. 34

on Fortune 500

2,000+

patents issued to Dell Technologies in 2023

120,000

approximate Dell Technologies team members as of FY24

INTRODUCTION	CLIMATE ACTION	CIRCULAR ECONOMY	DIGITAL INCLUSION	INCLUSIVE WORKFORCE	HUMAN RIGHTS	TRUST	BY THE NUMBERS	APPENDIX
Messages from our leadership	Our business	Awards	Goals dashboard	ESG materiality	Stakeholder engagement	Reporting frameworks

Dell Technologies FY24 ESG Report 6

Awards and recognition

Dell Technologies is investing in initiatives across our ESG impact areas and receiving recognition across the globe. The following FY24 awards highlight areas of excellence and represent our commitment to drive impact. Explore more of our awards and recognition.

*Gartner does not endorse any vendor, product or service depicted in its research publications. Gartner research publications consist of the opinions of Gartner's Research and Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. Gartner, Gartner Power of the Profession™ Supply Chain Awards, 2024, https://www.gartner.com/en/supply-chain/research/power-of-the-profession. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

ECOVADIS

Platinum medal

Awarded a platinum EcoVadis medal in 2023 for scoring in the top 1% of companies assessed across four major themes: environment, labor and human rights, ethics and sustainable procurement.

BEST PLACE TO WORK

Score: 100%

The Disability Equality Index (DEI) serves as a benchmark that helps companies build a road map of measurable, tangible actions to achieve disability inclusion and equality.

GARTNER'S POWER OF THE PROFESSION™ SUPPLY CHAIN & PEOPLE BREAKTHROUGH OF THE YEAR

Ranked among the 2024 winners

The Gartner Power of the Profession™ Supply Chain Awards are an annual community-driven recognition program that inspires supply chain transformation around the globe.*

INSTITUTIONAL SHAREHOLDER SERVICES ESG

Score: Prime status

Achieved prime status by fulfilling ISS' ESG requirements regarding sustainability performance in our sector.

FAST COMPANY'S WORLD CHANGING IDEAS AWARDS

Score: 2023 Company of the Year

Selected as Fast Company's World Changing Company of the Year and winner of Corporate Social Responsibility category in recognition of Dell's efforts to address the digital divide and climate change.

FORTUNE AMERICA'S MOST INNOVATIVE COMPANIES

10th out of 200 companies

Recognized in the top 10 of America's Most Innovative Companies, transforming industries from the inside out.

WORLD'S MOST ETHICAL COMPANIES®

Score: 12-time honoree

Recognized in 2024 as one of the World's Most Ethical Companies® by Ethisphere for the 12th time, affirming Dell's robust programs and commitment to integrity.

HUMAN RIGHTS CAMPAIGN CORPORATE EQUALITY INDEX

Top score of 100 points

Recognized as a leader in LGBTQ+ inclusion by meeting all criteria to earn a score of 100. This index is the national benchmark for LGBTQ+ related corporate policies, benefits and practices.

WORLD BENCHMARKING ALLIANCE'S DIGITAL INCLUSION BENCHMARK

8th out of 200 companies

Recognized in the top 10 of the world's 200 most influential digital technology companies, helping to advance a more inclusive digital society.

INTRODUCTION

CLIMATE ACTION

CIRCULAR ECONOMY

DIGITAL INCLUSION

INCLUSIVE WORKFORCE

HUMAN RIGHTS

TRUST

BY THE NUMBERS

APPENDIX

Messages from our leadership

Our business

Awards

Goals dashboard

ESG materiality

Stakeholder engagement

Reporting frameworks

Dell Technologies FY24 ESG Report 7

Goals dashboard

Our ESG plan lays out ambitious goals for the decade* and beyond. We believe how we track our progress is critical. We organize our goals across four pillars: Advancing Sustainability, Cultivating Inclusion, Transforming Lives and Upholding Trust. Our pillars help us organize our ESG work and track progress against our goals.

Read about our progress in By the Numbers. Learn more about the methodologies that we use to calculate progress toward each of our goals and key drivers in the Appendix.

Material topic

Environmental Goal

Our status

SDGs1

Advancing sustainability

Climate action

By 2050, we will achieve net zero greenhouse gas (GHG) emissions across scopes 1, 2 and 3

7, 12, 13

Key Driver: By 2030, we will reduce scopes 1 and 2 GHG emissions by 50%

FY24

40.6%

50%

7, 13

Percentage reduction in GHG emissions

Key Driver: By 2030, we will source 75% of electricity from renewable sources across

FY24

61.5%

75%

7, 13

all Dell Technologies facilities - and 100% by 2040

Percentage of electricity generated from renewable sources

Key Driver: By 2030, we will reduce absolute scope 3 GHG emissions from purchased

FY23: 18,238,800 MT CO2e.** We are in the process of restating our

12, 13

goods and services by 45%

emissions for this category to make each year comparable and to

provide a cumulative comparison to our FY20 baseline.

Key Driver: By 2030, we will reduce absolute scope 3 GHG emissions associated with

FY24

22.9%

30%

12, 13

the use of sold products by 30%

Percentage reduction in GHG emissions

Circular economy

By 2030, more than half of our product content will be made from recycled, renewable or

FY24

14.1%

50%

reduced carbon emissions material

Percentage of product content made from recycled,

12

renewable or reduced carbon emissions material

By 2030, 100% of our packaging will be made from recycled or renewable material, or

FY24

96.4%

100%

will utilize reused packaging

Percentage of recycled or renewable material

12

content in packaging

By 2030, for every metric ton of our products a customer buys, one metric ton will be

FY24

30.1%

100%

12, 13

reused or recycled

Percentage of products collected

*The year presented within each goal statement refers to the calendar year that coincides with the majority of Dell's fiscal year. Our fiscal year is the 52- or 53-week period ending on the Friday nearest January 31. Our ESG activities, including goal progress, are primarily collected and reported by fiscal year, unless otherwise noted. The expected end date of each goal is the end of the associated fiscal year (e.g., "By 2030" refers to the end of Dell's Fiscal Year 2031).

**Due to the one-year lag in supplier emissions data, progress against the current year is not available.

INTRODUCTION	CLIMATE ACTION	CIRCULAR ECONOMY	DIGITAL INCLUSION	INCLUSIVE WORKFORCE	HUMAN RIGHTS	TRUST	BY THE NUMBERS	APPENDIX	Dell Technologies FY24 ESG Report 8

Messages from our leadership

Our business

Awards

Goals dashboard

ESG materiality

Stakeholder engagement

Reporting frameworks

Goals dashboard

Our ESG plan lays out ambitious goals for the decade* and beyond. We believe how we track our progress is critical. We organize our goals across four pillars: Advancing Sustainability, Cultivating Inclusion, Transforming Lives and Upholding Trust. Our pillars help us organize our ESG work and track progress against our goals.

Read about our progress in By the Numbers. Learn more about the methodologies that we use to calculate progress toward each of our goals and key drivers in the Appendix.

*The year presented within each goal statement refers to the calendar year that coincides with the majority of Dell's fiscal year. Our fiscal year is the 52- or 53-week period ending on the Friday nearest January 31. Our ESG activities, including goal progress, are primarily collected and reported by fiscal year, unless otherwise noted. The expected end date of each goal is the end of the associated fiscal year (e.g., "By 2030" refers to the end of Dell's Fiscal Year 2031).

Material topic

Social Goal

Our status

SDGs

Transforming lives

Digital

By 2030, we will improve 1 billion lives through digital inclusion

FY24

1B

396M

inclusion

Total number of people reached (cumulative, FY20 to

4, 9

current reporting year)

Key Driver: Each year through 2030, 50% of the total people directly reached will be

50%

those who identify as girls and women, or underrepresented groups

FY24

51.5%

5, 10

Percentage of people reached directly who identify as girls

and women, or underrepresented groups (direct reach only)

Key Driver: Each year through 2030, we will deliver future-ready skills development for

FY24: Dell recorded 131,478 hours of future ready skills training at

8

workers in our supply chain

supplier sites and in-house manufacturing locations.

By 2030, 75% of our team members will participate in giving or volunteerism in

FY24

48%

75%

17

their communities

Percentage of team members participating in giving or volunteering

Key Driver: By 2030, we will use our expertise and technology to support the digital

FY24

535

1,000

transformation of 1,000 nonprofit partners

Total number of nonprofit partners supported in their

9, 17

digital transformation journey

Cultivating inclusion

Inclusive

By 2030, 50% of our global workforce and 40% of our global people leaders will be those

FY24

35.0%

50%

workforce

who identify as women

Percentage of our global workforce who identify as women

5

FY24

29.1%

40%

Percentage of our global people leaders who identify

as women

By 2030, 25% of our U.S. workforce and 15% of our U.S. people leaders will be those who

FY24

16.1%

25%

identify as Black/African American or Hispanic/Latino

Percentage of U.S. workforce who identify as Black/African

American or Hispanic/Latino

10

FY24

12.6%

15%

Percentage of people leaders in the U.S. workforce who

identify as Black/African American or Hispanic/Latino

INTRODUCTION	CLIMATE ACTION	CIRCULAR ECONOMY	DIGITAL INCLUSION	INCLUSIVE WORKFORCE	HUMAN RIGHTS	TRUST	BY THE NUMBERS	APPENDIX	Dell Technologies FY24 ESG Report 9

Messages from our leadership

Our business

Awards

Goals dashboard

ESG materiality

Stakeholder engagement

Reporting frameworks

Goals dashboard

Our ESG plan lays out ambitious goals for the decade* and beyond. We believe how we track our progress is critical. We organize our goals across four pillars: Advancing Sustainability, Cultivating Inclusion, Transforming Lives and Upholding Trust. Our pillars help us organize our ESG work and track progress against our goals.

Read about our progress in By the Numbers. Learn more about the methodologies that we use to calculate progress toward each of our goals and key drivers in the Appendix.

Material topic	Governance Goal	Our status	SDGs
Upholding trust
Trust	By 2030, our customers and partners will rate Dell Technologies as their most trusted	We announced this goal in FY23 and worked in FY24 to identify
	technology partner	best practices for measuring trust among customers and partners.
		We aim to make progress against our key drivers for Trust and will	9
		continue to evolve how to best measure and communicate progress
		against this goal.
	Key Driver: By 2024, Dell will make available the first validated Zero Trust solution,	Dell's Zero Trust solution, Project Fort Zero, is awaiting a testing date
	accredited by the U.S. government and commercially available to targeted global	for validation from the U.S. Government. We anticipate publishing a	16
	public and private sector organizations	general availability date shortly following the successful completion
		of the U.S. Government validation test.
	Key Driver: By 2025, 100% of actively sold Dell-designed and branded products and	We are working to determine the full scope of actively sold Dell-
	offerings will publish a software bill of materials (SBOM), providing transparency on	designed and branded products and offerings and to establish our
	third-party and open-source components	metric pipeline. At the close of FY24, we had generated SBOMs for	9
		70 Dell-designed and branded products and are on track to meet this
		key driver by 2025.
	Key Driver: By 2030, all new Dell products and offerings that use authentication will	We are working to ensure our product architectures enable
	offer a password-less authentication mechanism	passwordless authentication, including certificate-based	9
		management, and incorporation of hardware-bound authentication
		methods are being established and adopted into roadmaps.
	Key Driver: Each year through 2030, we will make it easier and faster for customers to	In FY24, Dell made customer choice and control over personal data
	exercise choice and control over their personal data	easier and faster through the expansion of our enhanced Privacy	16
		Center, which is now available in 74 locations globally.

*The year presented within each goal statement refers to the calendar year that coincides with the majority of Dell's fiscal year. Our fiscal year is the 52- or 53-week period ending on the Friday nearest January 31. Our ESG activities, including goal progress, are primarily collected and reported by fiscal year, unless otherwise noted. The expected end date of each goal is the end of the associated fiscal year (e.g., "By 2030" refers to the end of Dell's Fiscal Year 2031).

INTRODUCTION	CLIMATE ACTION	CIRCULAR ECONOMY	DIGITAL INCLUSION	INCLUSIVE WORKFORCE	HUMAN RIGHTS	TRUST	BY THE NUMBERS	APPENDIX	Dell Technologies FY24 ESG Report 10

Messages from our leadership

Our business

Awards

Goals dashboard

ESG materiality

Stakeholder engagement

Reporting frameworks