About This Report

This report discusses Lincoln Electric Holdings, Inc.'s operations from January 1, 2022, through December 31, 2022, unless otherwise indicated. The report uses qualitative descriptions and quantitative metrics to describe our policies, programs, practices, and performance. Note that many of the standards and metrics used in preparing this report continue to evolve and are based on management assumptions believed to be reasonable at the time of preparation, but should not be considered guarantees. In addition, historical, current and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. The information and opinions contained in this report are provided as of the date of this report and are subject to change without notice.

Lincoln Electric does not undertake to update or revise any such statements. In this report, we are not using the terms "material" and "materiality" as defined for the purposes of financial and SEC reporting in the United States. Instead, the terms refer to environmental, social and governance issues that are of significant importance to our stakeholders and to the Company. These "material" issues inform our corporate strategy, priorities, goals, and reporting.

This report covers our owned and operated businesses and does not address the performance or operations of our suppliers or contractors unless otherwise noted. All financial information is presented in U.S. dollars unless otherwise noted.

This report contains forward-looking statements relating to Lincoln Electric's operations that are based on management's current expectations, estimates and projections. See the "Cautionary Note Regarding Forward-Looking Statements" below.

Therefore, the actual conduct of our activities, including the development, implementation or continuation of any program, policy, or initiative discussed or forecasted in this report, may differ materially in the future. As with any projections or estimates, actual results or numbers may vary.

Cautionary Note Regarding Forward-Looking Statements

This report includes forward-looking statements, including statements relating to Lincoln Electric's sustainability, DEI, human capital, product development and other related strategies, policies, programs, commitments, estimates, expectations, projections, initiatives, targets, goals or prospects, within the meaning of federal securities laws. The use of words such as "aim", "anticipate," , "believe," "commit," "ensure," "estimate," "expect," "goal," "intend," "mission," "plan," "seek," "strive" and "target" among others, generally identify forward-looking statements. These forward-looking statements are based on Lincoln Electric's management's expectations and assumptions about future events as of the date of this report, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Actual results (including, for the avoidance of doubt, our performance with respect to any sustainability, DEI, human capital, product development and other related strategies, policies, programs, commitments, expectations, projections, initiatives, targets, goals or prospects) could differ materially from those contained in these forward-looking statements for a variety of reasons, including, among others, (i) technical and operating factors, (ii) assumptions not being realized, (iii) the outcome of current and future scientific research efforts and technological developments, (iv) evolving sustainability strategies and best practices and other factors set forth in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC and are subject to update by our future filings and submissions with the SEC. Any forward-looking statement made by us in this report speaks only as of the date hereof. Other unknown or unpredictable factors that could also adversely affect Lincoln Electric's business, financial condition and operating results may arise from time to time. We undertake no obligation to publicly update or to revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.