Our Commitment to Good Governance

Message From Debbie Majoras

Debbie Majoras

Chief Legal Officer and Secretary

At P&G, we serve nearly five billion people around the world with one of the strongest portfolios of trusted, quality, and leadership brands. How we serve the world’s consumers matters, and we have committed – publicly and within – to doing what is right and to being a good corporate citizen. A sustainably strong business depends on maintaining trust, and that requires adopting strong ethical and compliance standards and ensuring strong Board leadership and oversight. That is why Good Governance is the foundation for everything we do, including our Citizenship work — the base from which it all builds — rather than a separate focus area. From long experience, we know that a sustainably strong business depends on maintaining strong ethical, compliance and quality standards. It is equally true that for all our citizenship work to be credible and impactful, it must be firmly rooted in our Purpose, Values and Principles.

Our Commitment to Good Governance

We believe that strong governance practices contribute to better results for shareholders. We maintain governance principles, policies and practices that support Board and management accountability and serve the best interests of our Company, our shareholders, and our many stakeholders. We also promote good governance through our public support of Commonsense Principles 2.0 and our compliance with the Corporate Governance Principles of the Investor Stewardship Group.

(Data as of February 2021)

Shareholder Engagement

We value our relationships with all our shareholders. Engagement builds mutual understanding and a basis for progress, and the input we receive from them impacts and informs our corporate practices. The Company’s top 100 institutional shareholders collectively own over 50% of the Company’s outstanding shares of common stock, and we generally focus our proactive shareholder outreach efforts on these shareholders. These engagements have included members of our senior management, investor relations team, and subject matter experts from the Company, as well as Directors. We also solicit off-cycle, follow-up engagements where we believe further discussion and feedback on our actions would be beneficial. Our team is available via Investor Relations or the Corporate Secretary’s Office (CSO).