卡特彼勒2025年可持续发展报告 CATERPILLAR SUSTAINABILITY REPORT 2025

CATERPILLARINC.

SUSTAINABILITYREPORT2025

CaterpillarInc.2025SustainabilityReport

SUMMARYCUSTOMERENVIRONMENTPEOPLEGOVERNANCEREPORTING

TABLEOF

CONTENTS

WINWITHOURPEOPLE27

Employeesafety28

Investinginpeople31

Communityengagement35

RESPONSIBLEGOVERNANCE39

EthicsandOurValuesinAction40

Corporategovernance41

Shareholderengagement43

Riskmanagement44

Humanrights46

Strategicprocurement47

Politicalengagement48

REPORTING,INDICES

ANDLEGALSTATEMENTS55

Aboutthisreport56

Prioritizationandmanagement57

ofESGissues

ESGdatatables58

SASBindex66

GRIindex67

TCFDindex74

Climatescenarios75

Politicalengagementindex77

EXECUTIVESUMMARY3

AboutCaterpillar4

Ourstrategy5

AletterfromourChairman&CEO6

2025sustainabilityhighlights7

2030sustainabilitygoalsandprogress8

AconversationwithourChief9

SustainabilityandStrategyOfficer

SOLVINGOURCUSTOMERS’

TOUGHESTCHALLENGES10

Customerdriven11

Sustainabilityinaction12

Supportingacirculareconomy16

Customerandproductsafety19

ENVIRONMENTAL

STEWARDSHIP21

Ouroperations22

Scope3GHGemissions26

2

CaterpillarInc.2025SustainabilityReport

SUMMARYCUSTOMERENVIRONMENTPEOPLEGOVERNANCEREPORTING

2030sustainabilitygoalsandprogress8

AconversationwithourChiefSustainability9

andStrategyOfficer

EXECUTIVESUMMARY

AboutCaterpillar4

Ourstrategy5

AletterfromourChairman&CEO6

2025sustainabilityhighlights7

3

CaterpillarInc.2025SustainabilityReport

SUMMARYCUSTOMERENVIRONMENTPEOPLEGOVERNANCEREPORTING

ABOUT

CATERPILLAR

With2025salesandrevenuesof$67.6billion,

Caterpillar

Inc.is

shapingthefutureastheworld’s

leadingmanufacturerofconstructionandmining

equipment,off-highwaydieselandnaturalgasengines,industrialgasturbinesanddiesel-electriclocomotives.

BackedbyoneofthelargestindependentglobaldealernetworksandfinancingservicesthroughCatFinancial,thecompany’sprimarybusinesssegments:PowerandEnergy,ConstructionIndustriesandResourceIndustriesaresolvingcustomers’toughestchallengesthrough

commercialexcellenceandadvancedtechnology,drivenbyahighlyskilled,dedicatedglobalteam.

$67.6B

salesandrevenues

4M+

Cat®productsatworkaroundtheworld1

118K+

employees

~140primarylocationsin

24

countrieswithoperations

Allnumbersrepresentyear-end2025data,unlessotherwisenoted.

1Includesdiscontinuedproducts

4

CaterpillarInc.2025SustainabilityReport

SUMMARYCUSTOMERENVIRONMENTPEOPLEGOVERNANCEREPORTING

OUR

STRATEGY

In2025,ourcompanyintroducedarefreshedstrategyforprofitablegrowth,groundedinOurPurpose:We

buildabetter,moresustainableworld,andOurMission:

Solvingourcustomers’toughestchallenges.Our

strategyisorganizedaroundthreeprofitablegrowth

pillars:CommercialExcellence,AdvancedTechnologyLeaderandTransformHowWeWork.TheseprofitablegrowthpillarsarebuiltonafoundationofOperationalExcellenceandguidedbyOurValuesinAction:Safety,Integrity,Teamwork,ExcellenceandCommitment.

Caterpillarsupportsthepeoplewhobuildtheinfrastructureoftomorrow,

minethematerialsthatmakeithappen,andprovideenergythatshapes

communitiesandconnectspeople.Weengagecloselywithourcustomerstogainadeeperunderstandingoftheirtoughestchallenges,workingalongsideourindependentdealernetworktoprovidetailoredsolutionsacrossindustriesandregions.

Byfurtherintegratingadvancedtechnology,includingconnectivity,autonomyandtoolsenabledbyartificialintelligence(AI),intooursolutions,wehelp

ourcustomersimproveproductivity,safetyandefficiency.Oursolutions

aredesignedwithdigitalandtechnologyintegrationfromthestart,helpingcustomersachievetheirobjectivesandbuildwhat’snext.

Executingourstrategyrequiresustotransformhowwework.Weare

investinginourpeople,processesandtechnologytomeetourcustomers’

needsmorequicklyandmoreefficiently,whileapplyingthesameoperationaldisciplinetoimprovesafety,reduceourenvironmentalfootprintandimproveefficiencyinourownoperations.

Asourworldcontinuestoevolve,OurPurpose:Webuildabetter,more

sustainableworld,andOurMission:Solvingourcustomers’toughest

challenges,connectourenterprisestrategytotheprogressandperformancedetailedthroughoutthisreport.

5

CaterpillarInc.2025SustainabilityReport

SUMMARYCUSTOMERENVIRONMENTPEOPLEGOVERNANCEREPORTING

ALETTERFROMOURCHAIRMAN&CEO

Theworld’sdemandforinfrastructure,

energyandcriticalmineralsisaccelerating,andourcustomersareatthecenter

ofmeetingit.ThatisatremendousopportunityforCaterpillar,butitis

alsoatremendousresponsibility.Theworkourcustomersdomustbedonesafely,efficientlyandsustainably.

Ourjobistomakesuretheycan.

AtCaterpillar,ourmissionissolving

ourcustomers’toughestchallenges.

Ourpurposeisbuildingabetter,more

sustainableworld.Thosearenot

separateideas—theyreinforceeach

other.Thecustomersweserveface

realandgrowingpressuretoreduce

emissions,improveenergyefficiency,

meetregulatoryrequirementsanddeliverresultstheircommunitiescanbeproudof.SustainabilityatCaterpillarstarts

withhelpingthemdoexactlythat.

Meetingcustomerswheretheyare

Weknowthatsustainabilityprogress

mustbepractical,flexibleandachievable.Requirementsvarybyindustry,geographyandoperation,andsomustoursolutions.Bypartneringcloselywithcustomers,

wedesigndurable,reliableproductsandsolutionsbuilttoberebuiltor

remanufactured,helpingensureresourcesareusedeffectivelyovertime.Weare

investinginnext-generationpowertrainsolutions—includingmoreefficient

diesel,diesel-electric,batteryelectric,hybridandalternativefuelsystems—socustomerscanchoosetherightpath

fortheiroperationsandgoals.

Wearemakingmeasurableprogresstowardour2030sustainabilitygoals.Compared

toour2018baseline,wehavereduced

absolutegreenhousegasemissionsfrom

ouroperationsby34%andincreased

remanufacturedsalesandrevenuesby41%.

Investinginpeople

Everyimprovementinhowweworkstartswithourpeople.Aspartofourrefreshed

enterprisestrategy,weelevatedSafety

asoneofOurValuesinAction,reflecting

ourbeliefthatasafety-drivencultureis

foundationaltoeverythingwedo.In2025,weannounceda$100millionpledgeoverfiveyearstohelpequiptheworkforceofthefuturewiththeskillsneededfortomorrow’smanufacturingandindustrialjobs.And

theCaterpillarFoundationreacheda

historicmilestone,surpassing$1billioninglobalgivingsinceitsinceptionin1952.

Builttolast

Ourrefreshedenterprisestrategy—

organizedaroundCommercialExcellence,

AdvancedTechnologyLeaderandTransformHowWeWork—isbuiltonafoundation

ofOperationalExcellenceandguidedbyOurValuesinAction:Safety,Integrity,

Teamwork,ExcellenceandCommitment.

Sustainabilityiscoretohowweexecute

thestrategy,serveourcustomersandbuildacompanythatwillbeessentialforthe

next100years,justasithasbeenforthe

first.Throughoutthisreport,youwillsee

howsustainabilityisembeddedacrossourgovernance,ouroperationsandourculture.

JosephE.Creed

Chairman&CEO

6

CaterpillarInc.2025SustainabilityReport

SUMMARYCUSTOMERENVIRONMENTPEOPLEGOVERNANCEREPORTING

2025

SUSTAINABILITYHIGHLIGHTS

IN2025,CATERPILLARACHIEVED:

150M

LB

$1B

globalgivinges

34%

end-of-lifematerialreceivedbyCat®Reman

since1952,reachedbytheCaterpillarFoundation

inScope1andScope2GHGemissionscomparedto2018

absolutereduction

100%

ofnewproducts

$100M

pledged

introducedweremore

sustainablethanpreviousgenerations

byCaterpillartoequiptheworkforceofthefuture

7

CaterpillarInc.2025SustainabilityReport

SUMMARYCUSTOMERENVIRONMENTPEOPLEGOVERNANCEREPORTING

PRODUCTEMISSIONSANDENERGYEFFICIENCY

2030

SUSTAINABILITYGOALSAND

Goal

100%ofCaterpillar’snewproductsthrough2030willbemore

sustainablethanthepreviousgenerationthroughcollaboratingwithcustomers,reducedwaste,improveddesignforrebuildandremanufacture,loweremissions,andimprovedefficiency.

Progress

100%ofnewproductsin2025weremoresustainablethanthepreviousgeneration.

100%

100%

Forthisgoal,newproductsincludeneworimprovedprimeproductsuchasmachines,engines,generatorsets,upperpowertrain,andothercompletesolutionssolddirectlytoacustomer,OEM,ordealerunderanymajority-ownedbrand.Exclusionsfromthe

goalinclude,butarenotlimitedto,newsourceintroductionprograms,worktools,componentdevelopmentprogramsforprimeproduct,defenseproducts,aftermarketkits,orsitesolutions.CollaboratingwithcustomersiskeytoCaterpillar’sidentificationofsustainabilitycriteria.Tomeetthegoalrequirements,productsmustmeetoneormoreofthefourcriteriaincomparisontothepreviousgeneration:reducedwaste,improveddesignforrebuildandremanufacture,loweremissions,orimprovedefficiency.

PROGRESS

Formorecontextaboutprogresstowardeachgoal,refertotherespectivetopicdiscussionsinthisreport.

OPERATIONSENERGYANDEMISSIONSGoal

Wehavesetascience-basedScope1andScope2goaltoreduceabsoluteGHGemissionsfromouroperationsby30%from2018to2030.

Progress

OPERATIONSWATER

Goal

Implementwatermanagementstrategiesat100%offacilitieslocatedinwaterhigh-riskareasby2030.

Progress

77%offacilitieslocatedinwaterhigh-riskareasachievedthegoalofwaterstrategyimplementation.

34%30%

77%

100%

34%reductioninabsoluteGHGemissionsfrom2018.

EMPLOYEEHEALTHANDSAFETYGoal

Weaspiretopreventallinjuriesandwillfurtherourindustry-leadingsafetyresultsbyreducingrecordableinjuryfrequency(RIF)by50%from2018to2030.

Progress

23%improvementinRIFfrom2018.

OPERATIONSWASTE

Goal

Reducelandfillintensityby50%from2018to2030.

Progress

48%reductioninlandfillintensityfrom2018.

48%

50%

23%

50%

CUSTOMERSAFETY

REMANUFACTURING

Goal

Increasesalesandrevenuesfromremanufacturingofferingsby25%from2018to2030.

Progress

Goal

Provideleadershipinthesafetyofpeoplewhoworkin,onandaroundourproducts.

Progress

Wearecommittedtocustomersafety.See

page19

forexamplesofourprogress.

41%25%

41%increaseinsalesandrevenuesfromremanufacturingofferingsfrom2018.

DataincludesremanufacturingofferingsprovidedbyCatReman,ProgressRail,Solar®Turbines,CaterpillarEnergySolutions,andCaterpillarDefense.

8

CaterpillarInc.2025SustainabilityReport

SUMMARYCUSTOMERENVIRONMENTPEOPLEGOVERNANCEREPORTING

ACONVERSATIONWITH

OURCHIEFSUSTAINABILITY

ANDSTRATEGYOFFICER

AdiscussionwithCaterpillar’snewChiefSustainabilityandStrategyOfficer,EbbanClause.

AsthenewChiefSustainabilityandStrategyOfficer,pleasetellusmoreaboutyourself,yourbackgroundandyourconnectiontosustainability.

MycareeratCaterpillarhastakenmethroughvarious

commercialroles,allthewhilelearningagreatdealabouttheindustriesweserveandhowourbusinessenables

thesuccessofourcustomers.Sustainabilityhasalways

beenwovenintothevalueweprovidebyfocusingonhowCaterpillarsolutionshelpcustomersimproveefficiency,

extendassetlifeandsupporttheirsustainabilityobjectives.

AsImoveforwardinthisroleourfocuswillcontinuetobedeeplyunderstandingourcustomerssothatwecanworktosolvetheirtoughestchallenges.

WhataresomeofthetangiblewaysCaterpillarhelpscustomersmeettheirsustainabilityobjectives?

Weknoweverycustomerisdifferent,soourstartingpointisalwaysadiscussiontounderstandwhatsuccesslooksliketothem.Theirgoalsmaybetouselessfuel,extend

machinelife,lowermaintenanceandoperatingcostsorreduceemissions,amongothers.

Onceweunderstandthecustomer’spriorities,wecantailorasolutionthatmeetstheirgoals.

Thatsolutionmightbeleveragingahybriddiesel-electric

machineorbatteryelectricmachine,rebuildingtheirexistingfleetorusingalternativefuelssuchasbiodiesel,renewablediesel(HVO)orhydrogenblendsintheirgenset,toname

afewexamples.Thecommonthreadishelpingcustomersmaketangible,practicalprogresstowardtheirgoals.

CanyoutellusmoreabouthowCaterpillaris

developingtechnologysolutionstohelpcustomersoperatemoreefficiently,uselessfuelandmaximizeassetutilization?

Technologyisoneofthemostpowerfultoolstohelpour

customersimprovetheiroperationsanddriveadvancementsinproductivity,fuelefficiencyandjobsitesafety.

Forcustomerswithconnectedassets,theVisionLink™appdeliversvisibilityintomachinehealthandfuel

consumption,enablingmoreinformedcustomer

decisionsaroundmaintenanceandfleetmanagement.Reducingfuelconsumptionandincreasingefficiencyleadstolowergreenhousegasemissionsincustomeroperations,supportingboththeiroperationsand

sustainabilityobjectives.

Asanotherexample,analystsatourFleetMonitoring

Centerscanlookatinformationbeingsentbackfrom

connectedassetsandcanspotindicatorsassubtleas

slightchangesinoilpressure.Alongwithotherdata,smallchangeslikethatcansignaladevelopingengineproblem.Whenthoseconditionsareidentified,weworkwith

customerstoactearly,helpingtopreventfailures,extendcomponentlifeandavoidunplanneddowntime.

Caterpillarhasbeendevelopingautonomysolutions

fordecades.Inmining,autonomoushaulingcandriveproductivityimprovementsof20%ormorebyrunningequipmentwithgreaterconsistency.Ourmachines

havehauledmorethan11billiontonnesofmaterialautonomouslywithnoreportedinjuries.

Butnoteveryoneneedsfullautonomy,andthereare

significantgainsinsafetyandproductivityourcustomers

canachievefromothertechnologysolutions.Forexample,wehaveoperatorassisttechnologies,whicharein-cab

solutionsthathelpcustomersdrill,dig,loadandgradewithmoreconfidence,speedandaccuracy.Oneexampleoftheefficiencythatcanbegainedistime.Inonetestwithan

excavatorfinishingagradeproject,theuseof3Dgrade

controltooktheprojectcompletiontimefromapproximately35minutesto15minutes.

Ultimately,leveragingtechnologyhelpsussupport

customersindrivingefficient,sustainableoperations.

WhatconcreteactionsisCaterpillartakingintheirownoperationstobringsustainabilitytolife?

Caterpillar’spurposeis:Webuildabetter,moresustainableworld,andwetakethatseriouslyinourownoperations.

Acrossourglobalfootprint,we’remakingtargeted,site-levelinvestmentstoreducegreenhousegasemissions,managewaterrisksandreducewaste.Theseactionssupportour

2030sustainabilitygoals,butthey’realsowaystorun

ourbusinessbetter—byimprovingefficiency,managing

costsandincreasingresilience.Wearealsoinvestingin

technologytomodernizeourfacilitiesalongwitheffortstousespacemoreefficiently.

9

Bydoingbusinessmoreefficientlyandsustainablyourselves,westrengthenourabilitytodeliverthesolutionsourcustomersrelyon.

CaterpillarInc.2025SustainabilityReportSUMMARYCUSTOMERENVIRONMENTPEOPLEGOVERNANCEREPORTING

SOLVINGOURCUSTOMERS’

TOUGHEST

CHALLENGES

Ourlegacyofsustainableinnovationhelpscustomersmeetsociety’svitalneedsforinfrastructure,fromshelterandcleanwatertotransportationandreliable

energy.Wearecontinuouslyadvancingsolutionsthatincreaseefficiency,reducegreenhousegas(GHG)emissions,andminimizewaste,supportingourcustomerstoachievetheirsustainability-relatedobjectives.

Customerdriven11

Sustainabilityinaction12

Supportingacirculareconomy16

Customerandproductsafety19

CaterpillarInc.2025SustainabilityReport

SUMMARYCUSTOMERENVIRONMENTPEOPLEGOVERNANCEREPORTING

CUSTOMERDRIVEN

Wemeetourcustomerswheretheyareontheirsustainability

journey.Sinceeverycompanyhasuniquechallenges,constraintsandambitions,Caterpillaroffersinnovative,flexibleandpracticalpathways—notone-size-fits-allsolutions.Ourexpansiveportfolioofproducts,servicesandtechnologiesisdesignedtodeliver

energyflexibility,improveefficiencyandproductivity,andhelp

loweremissions,whilemaintainingtheperformanceandreliabilitycustomersexpectfromCaterpillar.

Ourdriveforcommercialexcellenceisbuiltaround

customerneedsandlong-termsuccess.Wedeliver

valuetocustomersthroughservicessuchaspreventivemaintenance,rebuildsandrepairsthatextendassetlife,improveuptime,andreducetotalcostofownership.Byaligninginnovation,technologyandservices,Caterpillarhelpstransformhowworkgetsdone—drivingcustomersuccesstodaywhilesupportingthetransitiontomore

resilient,sustainableoperationsforthefuture.

INNOVATINGFORCUSTOMEREFFICIENCYANDCHOICE.OURSOLUTIONSPORTFOLIOINCLUDES:

Asanadvancedtechnologyleader,Caterpillar

combinesmachineproductivitysolutions,anadvancedpowerportfolio,andgrowingcapabilitiesinautonomyandautomationtohelpreshapethewayourcustomerswork.Thesetechnologiesenablesafer,moreefficient

andsustainableoperations,helpingcustomerstogetmoredonewithfewerresourcesandreducedenvironmentalimpact.

Wearetransforminghowweworkbyimprovingthetools,processesandtechnologiesweuse

acrossourfactoriesandoffices.Bymodernizingour

Alternativefuelandfuelflexibilitycapabilities

areexpandingourcustomers’optionstooperateonawiderrangeoflower-carbonintensityfuelsacrossbothdieselandnaturalgasplatforms.Thisincludesbiodiesel,

Digitalandautonomoussolutions

Wecontinuetointegratedigitaltoolsandautonomy

technologiesthathelpcustomersuseenergymore

efficiently—minimizingidletime,improvingequipment

.

-

—

.

.

-

operations—fromadvancedmanufacturingtechnologiesontheshopfloortodigitalproductivitytoolsinour

workplaces—we’recreatingamoreagile,innovative

andefficientorganization.Theseinternalimprovementsenableustoexecutewithexcellenceanddelivera

.

higher-quality,seamlessexperienceforourcustomers.

.

-

.

.

CaterpillarInc.2025SustainabilityReport

SUMMARYCUSTOMERENVIRONMENTPEOPLEGOVERNANCEREPORTING

SUSTAINABILITYINACTION

Caterpillarhasalong-standingcommitmenttosustainability,a

coreelementofourpurposetobuildabetter,moresustainable

world.Ourabilitytoprovideinnovativesolutionsreflectsmore

than$30billioninvestedinresearchanddevelopmentoverthe

past20yearstodeliverbest-in-classinnovationforourcustomers.Thisworkfocusesonautonomy,alternativefuels,connectivityanddigital,andelectrification,helpingcustomersreduceemissions,

improveefficiency,andadapttoemergingtechnologies.

12

PathwaystoSustainability

Thisfour-yeareducationalprogram,launchedin2024,is

designedtohelpmining,quarryandaggregateindustry

customersandCat®dealersnavigatetheevolvingenergy

landscape.Itprovidesaholisticlearningexperience

combiningin-personandvirtualtraining,alongwithprojectadvisementandearlyaccesstosustainabletechnologies.Theprogram’soverarchinggoalistosupportparticipantsinachievingtheirsustainability-relatedobjectivesbysharingknowledgeandtoolsacrosssixkeyfocusareas:strategy,

people,product,process,technologyandinfrastructure.

AlignedwithCaterpillar’s2030sustainabilitygoals,

PathwaystoSustainabilityexploreswaystohelpcustomersachievetheirsustainabilityobjectivesthroughtechnology,

wastereduction,fleetelectrification,andefficiency

improvements.Pathwaysfostersindustry-widecollaborationsocustomersanddealerscanlearnandworktogether

towardbuildingabetter,moresustainableworld.

Initsfirsttwoyears,theprogramsuccessfullyestablishedacollaborativeplatformforsustainableinnovationin

mining.ThisplatformalignswithCaterpillar’smissionofsolvingourcustomers’toughestchallenges,byprovidingeducation,expertguidance,andearlyexposuretonew

technologies.Keyachievementsincludeparticipationofmorethan70customergroups,multiplein-personandvirtuallearningeventswithhighengagement,andearlytangibleoutcomessuchasimprovedstrategic

planningandsite-specificprojectadvisement.

CaterpillarInc.2025SustainabilityReport

SUMMARYCUSTOMERENVIRONMENTPEOPLEGOVERNANCEREPORTING

Advancedtechnologyacrossindustries

Caterpillar’slatesttechnologydevelopmentsaredrivingmeaningful

improvementsacrosscustomersites.Alwayslookingforopportunities

toenhancesafety,GraniteConstructionisanearlyadopteroftechnologyonthejobsite.Asoneofthefirstcustomerstotestandimplementthe

newCollisionWarningSystemwithmotioninhibitonnext-generation

Catmediumwheelloaders,GraniteConstructionistakingadvantageoftechnologythatusesradarandcameraswithpeopledetectionthatalertoperatorstohazardsfasterandassistinpreventingunintendedmachinemovement—reducingtheriskofacollisionintightjobsiteconditions.

ForCaterpillar’scustomerKiewit,jobsitesafetyandminimizingunplanneddowntimeareessentialwhenoperatingequipmentacrosscomplex

constructionandminingprojectsinNorthAmerica.Throughongoing

collaboration,theCaterpillarandKiewitteamsdeterminedthattraditionalmaintenanceprogramsandonboardmachinetechnologiesalonewere

notsufficient.Kiewitneededamorecomprehensivesolution,leadingto

theadoptionofCaterpillar’sFleetMonitoringCenter(FMC)forcontinuous,connectedfleetconditionmonitoring.

FMCconditionmonitoringadvisorscontinuouslyreviewequipmentdata

tohelppreventunplanneddowntimeanddetectunsafeoperating

conditionsbeforetheyimpactjobsiteproductivityorsafety.FMCisalsohelpingreducefuelconsumptionandGHGemissionsbymaintaining

optimalengineandaftertreatmentperformance;detectingoil,coolant,andhydraulicissuesearly;andextendingcomponentandassetlife

throughpredictivemaintenance.TheseeffortshelpenableKiewittomakefaster,data-drivendecisions,strengthenoperationalresilience,andsupportlong-termsustainability.

Autonomoushauling

.

a-

a

—

.

---

BluelightsonindicateourCat®938Msmallwheelloaderisoperatingusing

semi-autonomoustechnology.Thisvisualcuehelpsteamseasilyidentifywhenautonomyisactiveandsupportssafe,coordinatedoperationsonsite.

--