ESG MATERIALITY ASSESSMENT
IDENTIFYING & PRIORITIZING ESG TOPICS
Throughout our business, we believe it is important to prioritize with purpose. As we continue to mature our ESG work, we intend to focus our efforts and communications on the areas that are most important to our stakeholders and that we believe can add the most value to our business. In 2021, we conducted our first formal assessment to help us prioritize those ESG topics that are most relevant for our long-term success. We undertook a disciplined, thorough process to identify the ESG topics relevant to our business and industry and then solicit input from a broad range of both external and internal stakeholders with respect to their relative importance to Advance’s long-term success. With that stakeholder input, we followed an objective process to internally assess the potential that we believed highly rated topics had to value creation for our organization. A more fulsome description
of our process and results can be found in our 2021 Corporate Social and Sustainability Report under the caption “ESG Materiality Assessment.” (1) Our work identified five key areas of focus for ESG at Advance, and during 2022, we examined each of the top-five topics from our assessment more closely. On the following page, you will find a brief description of each of these topics, why it is important to our business and a cross-reference to where you can find additional information. 1.In our Corporate Social and Sustainability Report, we report on topics that we believe may be of importance to our business and our stakeholders. For purposes of those disclosures in the Corporate Social and Sustainability Report and on our website, we use the standards published by the Sustainability Accounting Standards Board, now maintained by the International
Sustainability Standards Board, to help identify material topics for disclosure. These standards differ from those used for filings with the Securities and Exchange Commission (SEC). Topics deemed material for purposes of our Corporate Social and Sustainability Report and our website and other ESG disclosures may not be considered material for SEC reporting purposes.
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2022 ADVANCE AUTO PARTS CORPORATE SUSTAINABILITY AND SOCIAL REPORT | 10
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