P&G’s 2021 Annual Report

P&G’s 2021 Annual Report was released today at www.pg.com/annualreport2021. Building on the momentum we created prior to the pandemic, P&G delivered strong results across the top line, bottom line and cash again in fiscal year 2021 through an integrated strategy executed with excellence by P&G people everywhere, while operating with excellent discipline in a challenging and volatile environment.

As previously announced, we exceeded each of our going-in targets for the year, across organic sales growth, core EPS growth, free cash flow productivity and cash returned to shareowners. And our quarterly dividend increase of 10% in April 2021 was the largest increase in over a decade – P&G’s 65th consecutive year of increases and 131^st consecutive year of dividend payments.

Stepping Up and Stepping Forward
P&G people continue to step up and step forward in this ongoing time of need to keep each other safe, to serve consumers and to support communities around the world. We remain focused on these three priorities, which have been guiding our actions day in and day out during this crisis.

• Protecting the health and well-being of P&G people;
• Maximizing the availability of our products that help people and their families with their health, hygiene and cleaning needs; and
• Supporting the communities, relief agencies and people on the front lines.

A Winning Strategy
These priorities work hand-in-hand with P&G’s strategic choices. Our integrated strategy was delivering strong results before the crisis, it is serving us well during the pandemic, and we believe it will continue to serve us well after the crisis.

• A focused portfolio of daily-use categories where performance drives brand choice;
• Superiority across product, package, brand communication, retail execution and value;
• Productivity improvements in cost and cash to fund investments and improve profitability;
• Constructive disruption in all facets of our operations; and
• A more focused, agile, accountable organization and culture.

Citizenship and ESG: A Force for Good and A Force for Growth
In fiscal 2021 we continued our commitment to being a force for good and a force for growth with each area of our Citizenship work (how we refer to our efforts in Environmental, Social and Governance (ESG) and related spaces), all of which are built into how we do business at P&G every day: Environmental Sustainability, Community Impact and Equality & Inclusion, with a foundation of Ethics & Corporate Responsibility.

We've made ESG-related information and data more accessible, understandable and usable for investors with the ESG investor portal implemented earlier this year, and are reinforcing our key commitments to ESG initiatives by linking our progress to executive incentive compensation beginning in fiscal 2022. You can learn more in the 2021 Proxy Statement released today, which also includes information on our 12 Board nominees (of which eight are women or racially/ethnically diverse), executive compensation and Company and shareholder proposals up for shareholder vote.

To explore P&G’s 2021 Annual Report, download the 2021 Proxy Statement, and experience some of the stories that bring our results, our strategies and our commitments to life, visit www.pg.com/annualreport2021.