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Letter From Ernie Herrman

Ernie Herrman

Ernie Herrman

Chief Executive Officer and President

To our Associates,
Customers, Neighbors,
Vendors, and Shareholders:

At TJX, honesty, integrity, and treating each other with dignity and respect matter. For nearly 45 years, our commitment to acting as a responsible corporate citizen has gone hand in hand with our company mission to deliver great value every day. Never did these long-held principles become more important than during the past two years as our resiliency as individuals and organizations was tested beyond what we could have imagined.

Over 2020 and 2021, we, like the rest of world, have faced the challenges of navigating a global pandemic and addressing the call for equity and racial justice. I want to thank our global Associates for their efforts during this time, especially those in our stores and distribution centers who continued to come to work, keeping the ongoing commitment to the health and safety of our Associates and customers top of mind. I am grateful for your continued hard work and dedication to TJX.

Facing these recent challenges, as well as other important issues like climate change, have helped us continue to define and evolve our environmental, social, and governance (ESG) priorities. This year has reaffirmed that these priorities play a critical role in supporting a sustainable, equitable future.

For more than 10 years, we have formally reported on our global corporate responsibility efforts. We are proud of our accomplishments, and the progress we have made across our four pillars of work: workplace, communities, environment, and responsible business. Below are a few examples of recent progress:

Our Workplace: Inclusion and diversity have long been a priority at TJX. Building upon our commitment to stand up for our Black Associates, customers, and communities, and stand for equity and racial justice, we have done a great deal of listening to our Associates. Town halls, listening sessions, focus groups, and a global survey are all helping to inform our long-term inclusion and diversity strategy. We continue to focus on driving sustainable, organizational changes and are pleased to be making progress in key areas, including Associate education, training, and development; recruitment of diverse candidates; and an expanded focus on processes and programs to support an inclusive work environment. Our work is ongoing as we strive for an inclusive workplace where Associates feel welcome in the Company, valued for their perspectives and contributions, and engaged with our business mission.

Our Communities: We continued helping vulnerable families and children access the resources and opportunities they need to build a better future. In addition to the millions of dollars we contributed to organizations to help those affected by COVID-19, we also committed $10 million in grant funding over 2020 and 2021 to organizations that support equity and racial justice. In addition to these efforts, we partnered with groups that fulfill basic needs, provide education and training, support research and care for life-threatening illnesses, and empower women.

Our Environment: In 2020, we set a long-term global goal to reduce greenhouse gas emissions from our direct operations by 55% by fiscal 2030 against a baseline of fiscal 2017. This is a science-based target in alignment with the United Nations’ 1.5 degrees Celsius Paris Agreement guidelines. Managing and mitigating our climate impact are a key part of our environmental sustainability program, along with waste and chemicals management.

Responsible Business: We recognize our obligation to operate a responsible business. For us, that includes excellence in governance, engaging with our stakeholders, operating ethically, and sourcing responsibly. We are a large, complex organization, and we expect our approximately 21,000 vendors to comply with our Vendor Code of Conduct, which is central to our social compliance strategy. Our expectations are also clearly defined in our global codes of conduct, with which our Associates and Board of Directors are expected to comply.

Looking ahead, we recognize there is growing interest in ESG topics that we focus on through our corporate responsibility efforts. As we continue to drive this critical work forward, we will share our journey as it evolves by reporting our efforts and commitments here on this website.

As always, I am eternally grateful to the thousands of TJX Associates around the globe who embody our core values every day and bring our corporate responsibility efforts to life.

Sincere regards,

Ernie Herrman Signature

Ernie Herrman
Chief Executive Officer and President
The TJX Companies, Inc.

September 2021