Avnet’s responsible sourcing strategy: Building integrity into our supply chain

In today's global business environment, responsible sourcing is no longer a niche concern-it's a strategic imperative. At Avnet, it's a component of our corporate responsibility commitment and a driver of long-term value creation across our technology supply chain.

The FY24 Sustainability Report outlines how Avnet continues to evolve its responsible sourcing practices and Responsible Sourcing Policy to meet rising stakeholder expectations and regulatory demands. Our approach focuses on supporting a resilient, reliable and responsible value chain.

Strategic highlights from FY24

• Due diligence and risk management
  In support of the applicable supply chain due diligence legislation such as the German Supply Chain Due Diligence Act (LkSG), the Norwegian Transparency Act, the Swiss VSoTr, Avnet implemented a risk management system to identify, prevent and address human rights and environmental risks. This includes supplier assessments, awareness measures and the appointment of a human rights delegate in EMEA to oversee operational implementation.
• Expanded supplier risk assessments
  We refined our supplier risk assessment processes and broadened engagement programs in EMEA to ensure compliance with human rights and environmental standards. Preventive and remedial measures were operationalized to address potential risks, reinforcing our commitment to ethical sourcing.
• Customer-validated priorities
  Corporate responsibility topics such as ethics and compliance, human rights and environmental risks were rated as top priorities by customers in our Voice of the Customer survey. This feedback validates our focus areas and strengthens our resolve to build a resilient and responsible supply chain.
• Global supplier engagement
  Through our Supplier Code of Conduct and Global Supplier Quality Handbook, we continue to set expectations for our partners. These documents are being integrated into regional onboarding and compliance processes, for alignment with Avnet's values and international standards.

Key initiatives we abide by

Avnet's responsible sourcing strategy is supported by a robust set of global initiatives and policies:

• Ten Principles of the UN Global Compact - Avnet annually commits to upholding the Ten Principles promoting ethical, social and environmental responsibility.
• Responsible Business Alliance (RBA) Code of Conduct - Avnet supports the RBA Code of Conduct guiding supplier behavior across labor, ethics and environmental practices.
• Compliance with global supply chain due diligence obligations and reporting requirements
• Avnet's responsible sourcing, environmental and human rights policies - foundational documents that shape our sourcing decisions.
• Annual conflict minerals reporting - filed with the SEC to ensure sourcing from responsible origins.
• Public Declaration of Principles on Human Rights in EMEA - outlining our commitments and expectations for employees and suppliers.
• Training and awareness programs - including supplier awareness presentations and human rights education for EMEA employees.

Why it matters

Responsible sourcing is not just about compliance-it's about trust. It protects our brand, reduces operational risk and reflects the values we stand for. Responsible sourcing is a shared responsibility. At Avnet, we're committed to integrity for our people, our planet and our partners.