Baxter International : 2024 SASB Index

Published: 2025-06-24 08:37:08 ET BAX

Published on 06/24/2025 at 08:37

Making a Meaningful Difference

2024 Corporate Responsibility Report

2024 Corporate Responsibility Report INTRODUCTION CORPORATE RESPONSIBILITY COMMITMENT 2030 GOALS EMPOWER OUR PATIENTS PROTECT OUR PLANET CHAMPION OUR PEOPLE AND COMMUNITIES CROSS-CUTTING COMMITMENTS APPENDIX 2

Contents

Introduction From the Chair and Interim CEO3

Company Profile 4

Cross-Cutting Commitments

Ethics and Compliance 26

Human Rights 27

Corporate Responsibility

Hurricane Recovery and Relief 6

at Baxter

2030 Corporate Responsibility Goals

Appendix

About This Report

Empower Our Patients

Patient Safety and Product Quality

Material Topics

Protect Our Planet

Carbon Neutrality

Policies and Standards

Water Management

Transparency Statements

Waste Management

Data Summary

Product Sustainability

Value Chain Energy Usage and GHG Emissions

Corporate Responsibility Commitment 7

Inclusion and Diversity 27

Privacy and Data Protection 28

Apex Companies, LLC (Apex) verified Baxter's Scope 1, 2 and 3 greenhouse gas emissions. See the related

verification statement. Apex also assured the following sections of this report. See the related assurance statements in English and Spanish.

Protect Our Planet (Introduction)

Carbon Neutrality

Water Management

Waste Management

Product Sustainability

Sustainable Procurement

Employee Health and Safety

Protecting Human Rights in Our Supply Chain subsection of Human Rights

Champion Our People

Sustainable Procurement 20

Workplace Culture 22

Facilities with ISO 14001, ISO 45001, ISO 50001 and Green Building Certifications

Related material in the Appendix: Data Summary; Value

38 Chain Energy Usage and GHG Emissions; Facilities with

ISO 14001, ISO 45001, ISO 50001 and Green Building

and Communities

Employee Health and Safety 22

Community Investment 23

Additional Disclosures 39

Apex Independent Assurance Statement 44

GRI Content Index 45

Sustainability Accounting Standards 47

Board Index

Certifications; Additional Disclosures

Select financial data included in the Data Summary is taken from the audited consolidated financial statements contained in the Baxter International Inc. 2024 Annual Report on Form 10-K. These financial statements are audited by Baxter's independent registered public accounting firm, PricewaterhouseCoopers LLP.

Task Force on Climate-related Financial

Disclosures Index 50

Endnotes 57

From the Chair and Interim CEO

As a director on the Baxter Board since 2022 and now as Chair and Interim CEO, it's an honor for me to be

presenting this year's Corporate Responsibility Report on behalf of our approximately 38,000 employees across the globe.

Baxter has been evolving rapidly in recent years, redefining our business, portfolio and operating model to make an even greater impact for the patients, caregivers, communities and other stakeholders who rely on us.

Among many recent accomplishments, we reached a key milestone in our transformation efforts in January 2025 when we completed the sale of our Kidney Care business.

Throughout our transformation, Baxter's Mission remains constant: Save and Sustain Lives. Another constant is our commitment to transparent reporting of our corporate responsibility and sustainability performance, which we have been doing for more than 30 years.

Our culture is defined by the exceptional colleagues who advance this commitment and our Mission through

our uncompromising focus on patient safety and quality, ethics and compliance in everything we do, strength through inclusion and diversity, and responsible corporate citizenship.

In 2024, Baxter employees tapped into the strength of our shared culture in unprecedented ways-navigating dynamic market conditions around the globe and delivering on our strategic transformation initiatives as we aim to redefine healthcare delivery across the care journey.

I want to thank each and every Baxter colleague worldwide for their hard work and dedication. I am particularly proud and grateful for our rapid recovery efforts following the 2024 impact of Hurricane Helene on our North Cove facility in Marion, North Carolina.

Throughout the year, we also made substantial progress on our 2030 Corporate Responsibility Commitment and Goals. This report presents the continued evolution of that goal set, and we remain focused on creating lasting environmental, social and economic value across three pillars: Empower Our Patients, Protect Our Planet, and Champion Our People and Communities. You'll find details on our efforts within this report. Among the many highlights throughout the year:

Empower Our Patients: In line with our unwavering commitment to patient safety and product quality, we maintained our emphasis on innovation and achieved our 10% year-over-year manufacturing process improvement goal.

Protect Our Planet: We completed 175 energy projects across our global manufacturing operations, which

are estimated to reduce greenhouse gas emissions by approximately 22,000 metric tons carbon dioxide equivalent (CO2e) annually. This surpassed our

emissions reduction of 21,100 metric tons CO2e in 2023. Additionally, we further analyzed opportunities for water-risk reduction at Baxter facilities where water is integral to the manufacturing of products and developed a multiyear process to reduce water risk.

Champion Our People and Communities: We donated approximately $31.5 million in products and cash to underserved communities. With our 2024 contributions to health, education and community resilience initiatives, we've reached 64% of our 2030 goal of $275 million. This includes more than $4 million to support employees and communities affected by Hurricane Helene.

As Baxter's transformation journey continues, our entire team is thankful to have your support and enthusiasm for our work advancing our Mission, as we make a meaningful difference now and in the future.

With appreciation,

Brent Shafer

Chair and Interim Chief Executive Officer

2024 Corporate Responsibility Report

CORPORATE RESPONSIBILITY COMMITMENT

2030 GOALS

EMPOWER OUR PATIENTS

PROTECT OUR PLANET

CHAMPION OUR PEOPLE AND COMMUNITIES

CROSS-CUTTING COMMITMENTS

APPENDIX

‌Company Profile

At Baxter, we are everywhere healthcare happens-and everywhere it is going, with essential solutions in the hospital, physician's office and other sites of care. For nearly a century, our customers have counted on us as a vital and trusted partner. Every day, millions of patients and healthcare providers rely on our unmatched portfolio of connected solutions, medical devices and advanced injectable technologies. Approximately 38,000 Baxter team members now live our enduring Mission: to Save and Sustain Lives. Together, we are redefining how care is delivered to make a greater impact today, tomorrow

and beyond.

We are driven to meet the needs of health systems, clinicians and patients as we work to better address their diverse and critical needs. Our portfolio includes sterile IV solutions, infusion systems and devices, parenteral nutrition therapies, inhaled anesthetics, generic injectable

pharmaceuticals, surgical hemostat and sealant products, advanced surgical equipment, smart bed systems, patient monitoring and diagnostic technologies, and respiratory health devices. As part of our strategic transformation initiatives, Baxter completed the sale of our Kidney Care business, which included our acute and chronic dialysis therapies businesses, in January 2025.

R&D

1.5M+

Company Overview, 2024*

Corporate headquarters: Deerfield, Illinois, United States

~38,000 employees

350M+ patients reached per year

centers in Belgium, India, Italy, Malta and the United States

~40

manufacturing sites in 20+ countries

connectable medical devices support patients globally**

100+

countries where products are available

~$31.5M in charitable giving

* As of Dec. 31, 2024. Other than charitable giving, the amounts and numbers set forth on this page give effect to the sale of our Kidney Care business in January 2025, the related results of which are reflected in Baxter's discontinued operations for 2024. Information in the rest of the report (unless otherwise specified) for 2024 includes Kidney Care results and operations.

** Current estimate based on the company's historical sales and service records.

Revenue by Segment

(Continuing Operations), 2024*

Revenue by Product Category

(Continuing Operations), 2024**

Medical Products & Therapies

$4.1B

Infusion Therapies & Technologies

$1.1B

Advanced Surgery

49%

Medical Products & Therapies

$10.6B

Total Revenue

Healthcare Systems & Technologies

28%

Healthcare Systems & Technologies

$1.8B

Care & Connectivity Solutions

$1.1B

Front Line Care

23% Pharmaceuticals

Pharmaceuticals

$1.4B

Injectables & Anesthesia

$1.0B

Drug Compounding

* As of Dec. 31, 2024. These amounts do not include results for the company's Kidney Care business, which was sold in January 2025 and the results of which are reflected in the company's discontinued operations for 2024. Total revenue includes $0.1 billion of other revenue not presented in the graphic "Revenue by Product Category (Continuing Operations), 2024" at right.

** As of Dec. 31, 2024. These amounts do not include results for the company's Kidney Care business, which was sold in January 2025 and the results of which are reflected in the company's discontinued operations for 2024.

Learn more about our financial performance in the Baxter 2024 Annual Report on Form 10-K.

Innovation

Throughout Baxter's history, we have demonstrated a commitment to research and development (R&D), to advance innovations that are intended to improve care outcomes and address the needs of patients, caregivers and customers. This continued throughout 2024 with a range of significant product launches, from a new infusion pump platform to a next-generation airway-clearance system and 13 injectable pharmaceutical products.

In 2024, Baxter invested $590 million in R&D.1 Our robust product pipeline is designed to help clinicians be more efficient and effective as they treat patients across multiple care settings, including hospitals, nursing homes, rehabilitation centers, ambulatory surgery centers, physicians' offices and patients' homes under physician supervision. Within connected care, we develop devices and software that can connect, communicate and/or analyze data to help redefine healthcare delivery. Within our core therapies, we leverage our deep history and experience to design products and solutions that help address patient and provider needs.

While proposed new product launches are subject to obtaining required regulatory approvals and clearances, we continue to prepare to introduce innovations to

help improve care for patients around the world. These include broadening digital health and connected care solutions-such as a secure, connected and workflow-friendly extensible platform, precision locating and handsfree communication systems, and software tools that elevate the clinical experience for our latest infusion pump platform. Other areas of innovation include surgical devices, drug-delivery offerings, complex pharmaceutical formulations and more.

Innovation is also essential to driving progress toward our 2030 Corporate Responsibility Commitment and Goals. For instance, using advanced technologies, we work to consistently enhance the safety and quality of our products. By transitioning toward a more circular approach to making and delivering products, we strive to meet rapidly evolving market demands, reduce waste and

maximize materials value throughout the product life cycle. These examples and many others are included throughout this report.

Disclaimer

Baxter International Inc. published this content on June 24, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 24, 2025 at 12:36 UTC.