Dear Stakeholders,

The global COVID-19 pandemic and acceleration of the movement to end racial injustice in America and around the world have powerfully highlighted business’ interconnectivity and responsibility to its teams, communities, consumers, partners and investors. At Ralph Lauren, we are challenging ourselves to re-examine how we deliver on our Purpose – to inspire the dream of a better life through authenticity and timeless style – in a way that continues to create value for all of these stakeholders.

Within this context, and as we mark one year since the launch of our Design the Change strategy, we recognize the importance of staying true to the values that define us, while embracing the opportunity to listen, to engage and to evolve.

Our mission is to create a positive impact on society and a more sustainable future. We made some notable progress this year – from achieving gender parity in our leadership positions, to setting science-based targets to reduce emissions across the Company and value chain by 30% by 2030. However, in this profound inflection point in human history, our mission takes on new meaning, and we recognize that there is greater, deeper work ahead.

As we continue our journey, we will take from this time both lessons and inspiration and weave them into the spirit of optimism, togetherness and caring that are at the heart of our beliefs — things that are beautiful, that last and that give us hope.