Franklin Electric Releases 2022 Sustainability Report

The document highlights the Company's continued commitment to global Environmental, Social and Governance efforts.

FORT WAYNE, Ind., Aug. 11, 2022 /PRNewswire/ -- Franklin Electric Co., Inc. (NASDAQ: FELE) released its third annual Sustainability Report this month, once again providing transparency, insight and data related to the Company's performance toward Environmental, Social and Governance (ESG) initiatives and goals. The commitment to these initiatives and goals led the Company to be named to Newsweek's 2022 list of America's Most Responsible Companies.

This year's report includes several details related to product advancements, employee health and wellness programs, and manufacturing initiatives. For example, operational excellence and global process standardization helped the Company increase its usage of power from renewable energy sources by 10%. The Company reported a significant investment in its global Goal Zero safety campaign, spending more than 24,000 hours training employees on health and safety best practices with the goal of zero work-related injuries. From a product standpoint, several advancements are helping Franklin Electric customers become more sustainable, including the Company's development of MagForce^™ High Efficiency Motors that significantly lower customer energy usage and related operating costs.

"We published our first Sustainability Report in October 2020, and I am proud of the progress that we have made in offering transparency to our environmental impact," noted Franklin Electric CEO Gregg C. Sengstack. "The results in our 2022 report speak to the combined efforts of our employees around the globe, whose work creates the products that allow for safe and reliable access to water, the filtration and treatment of water, the safe and effective movement of wastewater, and for environmentally safe and sustainable handling of liquid fuels."

Franklin Electric produced the report following the guidelines set forth in the Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Institutional Shareholder Services (ISS) Environmental and Social Disclosure QualityScore™ Framework. This set of standards creates a common language for organizations to report on its sustainability impacts in a consistent and credible way. Information in the report primarily covers the fiscal year that ended on December 31, 2021.

Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and fuel. Recognized as a technical leader in its products and services, Franklin Electric serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications. Franklin Electric is proud to be named in Newsweek's lists of America's Most Responsible Companies and Most Trusted Companies for 2022.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company's financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company's business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases,  raw material costs, technology factors, integration of acquisitions, litigation, government and regulatory actions, the Company's accounting policies, future trends, and other risks which are detailed in the Company's Securities and Exchange Commission filings, included in Item 1A of Part I of the Company's Annual Report on Form 10-K for the fiscal year ending December 31, 2021, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company's Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.

SOURCE Franklin Electric