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ViacomCBS : ESG Report

December 10, 2020 at 01:59 pm IST

ACTION

Environmental, Social, and Governance Report ViacomCBS 2019

Introduction	Governance	On-screen	Workforce	Sustainable	Reporting
		content and	and culture	production	indices
		social impact		and operations

Contents
Introduction	3
CEO letter	4
Our approach to ESG	6
About ViacomCBS	9
About this report	10
Our material topics	11
Case study: Responding to a global pandemic	12
Aligning with the UN Sustainable Development Goals	15

Governance	17
ESG governance	19
Corporate governance	20
Data privacy and security	22
Public policy engagement	23

On-screen content and social impact	24
Diverse and inclusive content	26
Responsible content and advertising	31
Using our content platforms for good	33
Expanding our social impact through community projects	35

Workforce and culture	38
A culture of diversity and inclusion	40
Preventing harassment and discrimination	45
Employee attraction, retention, and training	46
Health, safety, and security	48
Labor relations	50

Sustainable production, and operations	51
Climate change	53
Sustainable production	58
Environmental impacts of our operations and facilities	60
Supply chain responsibility	63
Consumer products	66

Reporting indices	68
GRI Index	69
SASB Index	81

COVER IMAGES

(FROM LEFT TO RIGHT):

CBS, NCIS; CBS Sports;

CBS, Super Bowl LIII;

CBS News, CBS This Morning

ViacomCBS ESG Report 2019

Introduction	Governance	On-screen	Workforce	Sustainable	Reporting
		content and	and culture	production	indices
		social impact		and operations

Introduction

Welcome to our first ESG Report, Action: ESG at ViacomCBS.

As we unleash the power of our content, we are coming together as a recently combined company and taking responsibility for communicating about our most material environmental, social, and governance impacts.

ACTION IN ESG

3	ViacomCBS ESG Report 2019

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		content and	and culture
		social impact

BOB BAKISH RESULTS THROUGH ACTION

When Viacom and CBS merged in December 2019, we became one of the largest content producers and providers in the world, with the power and reach to help shape the future of our industry.

Sustainable Reporting

productionindices and operations

As we've worked to build a united ViacomCBS, we are also working to unleash the power of content for our audiences, employees, industry partners, and investors. That means we're doing more to maximize the value of what we do and make a bigger impact on the topics that matter most. This includes amplifying the diverse voices and stories of our audiences and their worlds, and strategically using our platforms to support positive social outcomes.

As a leader, it's on us to measure and manage the impacts we have as a company.

Even before the merger, both CBS and Viacom knew how critical an Environmental, Social, and Governance ("ESG") strategy would be to our success. In fact, our companies were already on parallel journeys to strengthen our ESG goals and foster a better world for our employees, audiences, partners, and communities.

"As a leader, it's on us to measure and manage the impacts we have as a company."

4	ViacomCBS ESG Report 2019

Introduction	Governance	On-screen	Workforce	Sustainable	Reporting
		content and	and culture	production	indices
		social impact		and operations

As ViacomCBS, we've been focused on bringing these efforts together. What we found is a deep commitment to creating a lasting impact through our work - with some incredible examples of how ESG has long been active inside our company.

Suffice it to say that 2020 - the year in which we are publishing our first companywide report - has been a year in which we have needed to ask ourselves who we are as a company, how we function in challenging times, and how we show up for diverse audiences around the world. We're dealing with two deadly pandemics: one that surfaced over the past several months, and one that has persisted and ravaged our global society for years.

In the past year, we broadened our focus on diversity and inclusion on- and off-screen and made our diversity and inclusion work and data public as legacy Viacom for the first time. We strengthened our efforts to improve the environmental effects of our film and TV productions. And from campaigns to increase voter turnout, to supporting the fight against COVID-19, we leveraged our brands, content, and global reach to positively affect the issues that matter.

As we publish our first-ever ESG Report, we're more committed than ever to continue cultivating our impact, with an emphasis on these three core areas:

On-screen content and social impact We'll work to align our programming and development, advertising decisions, and editorial practices with our ESG priorities, recognizing the power and reach of our studios, networks, and streaming platforms to promote change in diversity and inclusion, responsible environmental management, and other important areas.

Workforce and culture

We'll continue to work to elevate diverse voices at every level of our organization and strengthen ViacomCBS for our employees, partners, and audiences everywhere.

Sustainable production and operations

We'll expand our efforts to reduce the environmental footprint of our productions, consumer products, and facilities.

As a company that entertains and informs people around the world, we have a special opportunity to use our voice for good. Our commitment to ESG starts at the top with me, my senior leadership team, and our Board of Directors. Throughout this report, you'll hear about how we're embedding ESG and sustainability into our business to drive these changes forward. We'll explain how we've governed and managed our efforts, as well as some of our goals for the future.

As our company continues to evolve, we're committed to making a difference in a way that sets new and higher standards for ourselves and our industry. There's a lot of opportunity ahead for us and I'm so excited for what we'll accomplish. I invite you to join us

on our journey and reach out to us at sustainability@viacbs.comwith any thoughts or questions. We'll be updating and sharing our progress with you along the way.

Best,

Bob

President and CEO,

ViacomCBS

5	ViacomCBS ESG Report 2019

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		content and	and culture
		social impact

OUR APPROACH TO ESG

GRI: 102-31

The media and entertainment industry is one of the most powerful forces shaping culture, social attitudes, and societal outcomes.

As a global content powerhouse that reaches billions of people, we are serious about the opportunity and responsibility that comes with that reach.

We are charting a new path to advance and strengthen our approach to ESG topics to help serve our partners, audiences, employees, and shareholders

- and to enhance our success as a business. Our approach is grounded in an understanding of where our biggest impacts, risks, and opportunities lie. We recently undertook our first companywide assessment of the most material ESG topics for ViacomCBS and our stakeholders, which is now informing our approach to managing and reporting on ESG topics.

IMAGES (LEFT AND

BOTTOM): CBS News

SustainableReporting

productionindices and operations

We also began developing a comprehensive ESG strategy for the combined company organized by three pillars: On-Screen Content and Social Impact, Workforce and Culture, and Sustainable Production and Operations.

We are excited about the progress we are making. But we recognize we have a lot more to do. We are eager to share our ongoing progress and are committed to communicating transparently and comprehensively on our ESG performance moving forward.

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		content and	and culture
		social impact

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ESG HIGHLIGHTS

ON-SCREEN CONTENT AND SOCIAL IMPACT

BET announced "Content for Change," a major social justice initiative anchored in the belief that media plays a pivotal role in shaping and driving individuals' and communities' values, perceptions, and actions

40%

Black, Indigenous, and People of Color (BIPOC) representation in all writers' rooms across the CBS Television Network and SHOWTIME, goal for the 2021-22 programming season

Voluntarily banned all e-cigarette and vaping product ads from all of our brands

Participated in Blackout Tuesday on June 2, 2020, an industry-wide day of reflection; and launched other efforts to promote inclusion and equality through our content platforms

10 of our brands, including MTV, BET, Comedy Central, CMT, and CBS Sports Network went dark for 8 minutes and 46 seconds to honor George Floyd and pay tribute to other victims of racial violence

$20.8M

worth of public service announcements

- over 22,300 total announcements - aired in 20191

$18M

monetary donations to community and non-profit organizations in 2019

1 Value of public service announcements is estimated based on data provided by schedulers on airing days and times

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		content and	and culture
		social impact

ESG HIGHLIGHTS (CONTINUED)

SustainableReporting

productionindices and operations

WORKFORCE AND CULTURE

48.23%

women U.S. executives at Vice President level and above in 20192

53.8%

women on the ViacomCBS Board of Directors

$100M

committed to help provide support to those impacted by the COVID-19 pandemic

SUSTAINABLE PRODUCTION AND OPERATIONS

40,325

megawatt hours (MWh) of renewable energy procured in 20192

Improved Viacom's CDP score from a C to a B in 2019

		20





		Productions across Viacom, CBS,
		and Paramount implemented the
All ViacomCBS employees	Green Production Guide in 2019,
receive anti-harassment training	up from 13 in 2018 and four in 2017

Exceeded the 2019 Viacom Supplier Diversity goal, reaching 8.1% of controllable spend with diverse suppliers

2 Across legacy Viacom and CBS companies, combined, in 2019

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ABOUT

VIACOMCBS

GRI: 102-2,102-4,102-6,102-7,102-16,102-45,203-2

ViacomCBS is a leading global media and entertainment company that creates content and experiences for audiences worldwide.

On December 4, 2019, Viacom and CBS merged to become ViacomCBS, creating a global content powerhouse driven by distinct brands, worldwide studios, streaming services, distribution, publishing, merchandise, live events, and more. We are powered by the most diverse portfolio of brands, content, and audiences.

Our employees make our company stronger. ViacomCBS directly employs more than 20,000 full-time employees and project-based staff in 35 countries.

We create content across every genre and format, including news, sports, and entertainment - and we are the proud owners of a deep library. We distribute to our own platforms and supply others.

We work with advertisers, distributors,

and talent to deepen and extend relationships with every audience demographic through advanced advertising, licensing strategies, and more.

We're doing more to maximize the value of what we do, developing new ideas and better ways to make a bigger impact on the issues that matter most. This includes expanding the power of our content to amplify the diverse voices and stories of our audiences and their worlds.

IMAGES (TOP AND LEFT): CBS studio and control room

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ABOUT THIS

REPORT

GRI: 102-21,102-46,102-50

We are excited to release our first ESG report, which details our overall approach to ESG topics and our progress so far. The report is organized into four sections: one for each of our three ESG pillars, plus a section on our governance practices.

We recognize we are at the beginning of our ESG journey and have more to do. We plan to report annually on our ESG progress and performance.

In accordance with standard ESG reporting, this report focuses on the calendar year 2019 and specifically Viacom 2019 data and policies, before Viacom and CBS merged in December of 2019. Therefore, most of the data we report is for Viacom's performance in 2019. However, the forward-looking approach to ESG and governance systems described in this report are relevant to ViacomCBS and we share examples and data from CBS in 2019 when available, as well as from the combined company. We provide more detail on our business strategy and financial performance on our Investor Relations website.

We used external reporting frameworks and guidance to influence the development of this report, including the Global Reporting Initiative (GRI) Standards; the Sustainability Accounting Standards Board (SASB); and the Task Force for Climate-related Financial Disclosures (TCFD).

We take seriously the views of all our stakeholders and actively seek their input. We will revisit and revise our material topics and evolve our ESG strategy on an ongoing basis. For any feedback or questions, please contact Jessica Thurston, Director, Environmental, Social, and Governance Strategy, at sustainability@viacbs.com.

IMAGES (TOP AND LEFT): CBS, NFL studio and control room

10	ViacomCBS ESG Report 2019

Introduction	Governance	On-screen	Workforce	Sustainable	Reporting
		content and	and culture	production	indices
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OUR MATERIAL

TOPICS

GRI: 102-15,102-46,102-47,103-1,103-2,103-3

Understanding how our business and content impact our stakeholders is the foundation for us addressing our most important ESG topics.

As part of this effort, we recently undertook a materiality analysis to identify the ESG risks, opportunities, and topics that are most important for our company and our stakeholders. We used the results of this assessment to inform our ESG strategy and disclosure, as well as the content for this ESG report.

We published our process for determining our most material ESG topics as well as the results of this analysis in our 2020 Materiality Assessment report.

The matrix below illustrates the ESG topics that our materiality analysis suggests are most important to our stakeholders and our company. Together with our overarching business priorities, all of these topics are important inputs to our ESG strategy. We published definitions of all our material topics in our full Materiality Assessment report.

On-Screen Content & Social Impact	Governance
Workforce & Culture	Sustainable Production & Operations

Greater

Importance to stakeholders

Public policy engagement

Great

ESG governance		Diverse & inclusive content

Transparency & reporting		Content accuracy & independence
		Business model disruption
		IP & copyright
		Workforce diversity & inclusion
		Harassment & discrimination
		Employee safety & security
		Culture & transformation
		Data privacy & information security
Labor & worker issues		Influence & advocacy on social
Stakeholder engagement		& environmental issues
Supply chain responsibility		Responsible advertising
& product impacts		Social impact
Environment impacts		Benefits & compensation
from direct operations		Corporate governance
		Compliance & ethical conduct
Supplier diversity
Impact on ViacomCBS's business

		Greater

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RESPONDING TO

A GLOBAL PANDEMIC

GRI: 403-3

The COVID-19 pandemic has had devastating effects on the world and has directly impacted our employees, partners, and viewers.

At ViacomCBS, we have responded to the pandemic in many ways, including adapting our approach to producing content, pivoting our workforce to be predominantly remote, putting new employee assistance programs in place, and using our content and brands to support viewers in processing the challenges of living through a pandemic.

We're still in the middle of this crisis, and we will continue to respond as it evolves. But our actions in the first half of 2020, described here, focused on protecting our people and connecting with and supporting our viewers during this unprecedented time.

PROTECTING OUR PEOPLE

Our first priority is to protect our employees, their families, and our communities. We are operating in accordance with local and country- specific requirements and making decisions about where and how our teams work - safely - as this crisis persists. We shut down our offices and productions early on in the crisis to keep people safe.

However, producing our shows required major changes, like filming from the homes of talent and working with reduced production crews. To allow as many employees as possible to work from home, we're relying on digital workflows and infrastructure for remote producing and editing. In mid-2020, we began to restart productions, but only when we could do so safely and in compliance with local ordinances.

All of our brands have gotten creative in developing highly detailed and thoughtful plans to resume production of their shows, events, and features under our new safety protocols. Our internal Production Task Force, with leaders on our Global Sourcing team, ensures we have personal protective equipment and cleaning and disinfection services, validates safe travel and hotel resources, secures testing and health screening services, and hires COVID-19 consultants and vendors to support our Production Safety and Environmental, Health, Safety, and Security teams. And, we collaborated with our industry partners at the Alliance of Motion Picture and Television Producers (AMPTP) and government organizations on industry-wide recommendations, which were published in June.

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RESPONDING TO A GLOBAL PANDEMIC (CONTINUED)

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productionindices and operations

A look inside the Studios at Paramount

The Studios at Paramount in Los Angeles, California - which we refer to as the Paramount Lot - operates like a "mini-city" with over 5,000 people working on site during normal operations in nearly 140 buildings and sound stages comprising 2 million square feet of enclosed space. In addition to Paramount staff, as of the publication of this report, about 40 different tenants' workers are on site in offices, stage productions, and post production operations.

Initially during the COVID-19 pandemic, we closed the Lot, but began reopening it in July with strict protocols in place for reduced density, social distancing, mask wearing, and hygiene, including:

Health screenings:

Anyone entering the Lot must complete

an online health screening and an in-person temperature check before entering the facility each day.

Increased cleaning and disinfection: We dialed up the Lot's cleaning protocols by, for example, identifying all high-priorityareas where people gather for enhanced regular cleanings. We are using new cleaning technologies like ultraviolet light to sanitize small items, electrostatic disinfection sprayers, and air filtering devices in higher occupancy offices and stage areas.

Supporting personal hygiene:

We added touchless hand sanitizing stations, portable sinks, and cleaning supplies throughout the Lot.

Encouraging social distancing:

We reconfigured spaces and processes to maximize social distancing, like redesigning common spaces to encourage one-way traffic and implementing "no contact" ordering and food pick-up from on-site dining facilities.

Supporting industry partners

Pausing most of our TV and film productions has significantly affected the livelihoods of the many people who work on them. In March 2020, ViacomCBS committed $100 million to help provide support to those impacted by COVID-19, including non-staff employees on ViacomCBS productions, as well as through third parties like the Screen Actors Guild - American Federation of Television and Radio Artists' COVID-19 Relief Fund, the Motion Picture & Television Fund's Emergency Relief Fund, and The Actors Fund's Entertainment Assistance Program.

IMAGE: CBS Diversity & Inclusion Initiatives

STAYING CONNECTED

WHILE STAYING SAFE

Across our brands and shows, we have been finding new ways to connect with and support viewers during the pandemic.

#ALONETOGETHER

In March, we partnered with the Ad Council to launch the #AloneTogether campaign, a series of over 174,000 linear TV spots plus paid social media posts featuring talent from across our brand and streaming portfolio to drive awareness about the importance of social distancing, while spreading the message that we are all in this together. We aired the campaign across the U.S., and stars including Trevor Noah encouraged viewers to follow CDC recommendations for beating the virus while fostering a sense of unity. We've since supplemented #AloneTogether with similar efforts including a sports- focused campaign that CBS Sports and the NFL launched called #InThisTogether and #StayHomeStayStrong.

13	ViacomCBS ESG Report 2019

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RESPONDING TO A GLOBAL

PANDEMIC (CONTINUED)

SUPPORTING VIEWERS ACROSS OUR BRANDS

We worked to send viewers across our programming the message that the safest thing to do is stay home.

ViacomCBS late-night hosts started filming from home and doing social distancing themed specials like
The Daily Social Distancing Show with Trevor Noah. The Late Late Show With James Corden launched a special series called "Homefest", featuring Corden filming from his garage with special guests participating via webcam
Nickelodeon launched NickHelps.com to help inform parents and children about the pandemic. The website features favorite characters from
Nickelodeon shows offering short-form content and downloadable activities about COVID-19 geared towards children. For example, families can get information on the importance of social distancing from SpongeBob and hand washing tips from the Bubble Guppies. We also developed a line of kid-friendly, reusable masks featuring Nickelodeon characters; 100% of the proceeds from sales of these masks are donated to Save the Children and its COVID-19 Global
Response. To provide a safe space online as parents and kids navigated the challenges of homeschooling, we offered new customers a free trial on Noggin, our kids' entertainment and learning app
To support remote learning, Simon
& Schuster developed a free program for teachers and booksellers to read its children's books aloud to classes and customers over streaming platforms. The publisher also pledged to double its annual contribution to the Book Industry
Charitable Foundation, which helps booksellers in need

Smithsonian Channel streamed Aerial America so viewers could experience all 50 states without leaving home
CBS All Access and SHOWTIME offered 30 days free to new customers
MTV brought back MTV Unplugged featuring mini concerts with artists performing from their homes

SUPPORTING OUR

COMMUNITIES

We've also used our programming platforms to support organizations that are helping communities survive during the pandemic.

The Daily Show with Trevor Noah encouraged viewers to donate to
No Kid Hungry, raising more than $140,000 for the organization
Nickelodeon featured a #KidsTogether special to raise funds and awareness for charities focused on the needs of children and first responders
BET aired Saving Our Selves:
A COVID-19 Relief Effort broadcast special to raise funds for communities of color most impacted by the pandemic
Comedy Central's live-streamed comedy sets raised funds for the
LaughAid COVID-19 Relief Fund
In March, the Paramount Studios
Lot and CBS Studio Center donated 1,150 N95 surgical masks and additional medical supplies to the
Children's Hospital of Los Angeles and Cedars-Sinai Medical Center. Blue Bloods, Magnum P.I., and
Hawaii 5-0 also donated masks and sanitizing supplies to local hospitals in New York and Hawaii

In April, we supported One World: Together at Home, a six-hour live concert event in partnership with Global Citizen to support the
World Health Organization
Our production food donation program provided a reliable supply of meals to local food banks. In order to continue to support this effort while productions were closed down, producers and talent at CBS Television Studios, Evil,
The Good Fight, and Star Trek: Picard donated 5,000 meals to their communities in Los Angeles, New York, and San Francisco

IMAGES:

CBS, Magnum P.I.

14	ViacomCBS ESG Report 2019

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ALIGNING WITH THE UN SUSTAINABLE DEVELOPMENT GOALS

We are proud to align our ESG work with the United Nations Sustainable Development Goals (SDGs). Many SDGs are relevant to ViacomCBS given our global reach and myriad impacts as a company, and we are specifically focused on addressing those noted here.

IMAGE LEFT:

CBS Pride 2019

ESG Strategic Pillar:

On-Screen Content & Social Impact

GOAL 4: QUALITY EDUCATION

We are helping develop the next generation of writers and talent, particularly from under-represented and diverse communities. To do so, we invest in writers' and artists' programs as well as provide direct support to and engagement with youth-oriented educational support programs across our brands.

Promoting inclusion in front of and behind the camera

Social impact initiatives

GOAL 10: REDUCED

INEQUALITIES

ViacomCBS has been a pioneer in telling the stories of under-represented audiences. The content we produce is built on a legacy of firsts in elevating conversations about diversity. We have always sought to "show up"

on issues that align with our capabilities and matter to our viewers and their communities.

Using our content platforms for good

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ALIGNING WITH THE UN SUSTAINABLE

DEVELOPMENT GOALS (CONTINUED)

ESG Strategic Pillar:

Workforce & Culture

GOAL 5: GENDER EQUALITY

Within our organization, we continue to work toward creating a culture of inclusion and belonging: one that supports all of our employees, professionally and personally, and holds our leadership accountable for developing and championing a diverse workforce that is equipped and empowered to succeed. We want our commitment to diversity to be visible across our workforce, including at the leadership level.

Holding ourselves accountable for diversity and inclusion

Employee diversity

GOAL 8: DECENT WORK AND ECONOMIC GROWTH

We are working to strengthen our culture of inclusion through a range of diversity-focused recruitment, advancement, training, and employee support programs.

Employee attraction, retention, and training

ESG Strategic Pillar:

Sustainable Production & Operations

GOAL 7: AFFORDABLE AND CLEAN ENERGY

We are committed to using energy responsibly in our own operations, as well as supporting renewable energy infrastructure.

Reducing our impact

GOAL 12: RESPONSIBLE CONSUMPTION AND PRODUCTION

Sustainable production is material to our business and it is a specific area in which we want to emerge as leaders. We also work to enhance transparency, build a sustainable and equitable supply chain, and mitigate our environmental and social impacts.

Sustainable production

Supply chain responsibility

GOAL 13: CLIMATE ACTION

Climate change is undoubtedly one of the most urgent issues facing current and future generations. We have an obligation to mitigate our impacts.

Climate change

Influencing culture and conversations

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ACTION

IN GOVERNANCE

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GRI: 419-1

Audiences across the globe invite us into their living rooms or onto their phones and count on us to accurately reflect their worlds through our content. Our business is built on that trust. In order to maintain it, we rely on strong practices for governing our company, compliance and ethics, data privacy, and public policy engagement.

The complex nature of our business and consumer relationships, which includes working across borders and through a range of platforms, requires robust governance standards. We are working to implement ESG-specific governance practices to further embed environmentally and socially responsible policies across ViacomCBS.

Our commitment to responsible business practices starts at the top

Our ESG Council brings together leaders from across our company

IMAGES FROM PREVIOUS PAGE (FROM LEFT TO RIGHT):

CBS News and CBS Evening News

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ESG

GOVERNANCE

GRI: 102-18,102-19,102-20,102-21,102-26,102-29,102-31, 102-32,102-33,102-40,102-42,102-43

Our commitment to responsible business practices starts at the top with our Board of Directors and senior leadership.

As we develop our ESG strategy, the entire Board is involved in reviewing and refining our approach. The Nominating and Governance Committee of the Board, per its charter, is responsible for overseeing and monitoring the Company's handling of ESG issues and receives regular updates on developments from our ESG leaders, who manage it across the company. The Committee and our ESG leaders periodically communicate key ESG updates to the full Board.

We're using insights from our materiality assessmentto develop a more formal ESG program with a clear strategy and goals around our three companywide ESG priorities: On-screen Content and Social Impact, Workforce and Culture, and Sustainable Production and Operations.

Several topics - including, perhaps most importantly, diversity and inclusion

- cross all three of these pillars.

Following our materiality assessment, we began to build strategic plans for each of our three priority areas, working with teams across the company to do so.

To help guide this work, we formed an ESG Council, which brings together leaders, as well as other subject matter experts, from across our company. This council is a cross-functional team spanning Legal, Investor Relations, the Office of Global Inclusion, Human Resources, real estate and facilities, environmental health and safety, and more. Council members work with the functional teams they lead to manage the day-to-day work of applying an ESG lens to everyday business decisions and long-term company priorities.

We regularly engage with our stakeholders, including employees, investors, advertisers, regulators, issue advocacy groups, and others on ESG issues. We discuss examples of these engagements throughout this report. We also included internal and external stakeholders in our materiality assessment process to help us better understand their viewpoints on important ESG issues.

Board of Directors

Actively engaged in forming and approving the overarching

ESG strategy and monitoring progress toward goals

Nominating and Governance Committee

Provides oversight of ESG governance across the company, along with General Counsel

ESG Leaders	ESG Council
Day-to-day management of ESG issues is led by	Acts as an advisory body to ESG leaders in the company,
the Executive Vice President, Chief Communications	helping to guide strategy roll-out and maintain focus
and Corporate Marketing Officer; the Senior Vice	on material issues. A cross-functional team spanning
President of Culture & Corporate Social Responsibility;	Legal, Investor Relations, the Office of Global Inclusion,
and the Director of ESG Strategy and Reporting	Human Resources, real estate and facilities,
	environmental health and safety, and more

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CORPORATE

GOVERNANCE

GRI: 102-5,102-18,102-19,102-22,102-23,102-26,405-1

At the Board of Directors level, the Board - with assistance from its Nominating and Governance Committee - regularly reviews (and updates when needed) our governance practices to comply with legal and regulatory requirements, stakeholder input, and evolving best practices.

The Board of Directors established the Audit Committee for the primary purpose of overseeing the accounting and financial reporting processes of the Company and audits of the financial statements of the Company. ViacomCBS' Chief Compliance Officer & Chief Audit Executive reports to ViacomCBS president and CEO Bob Bakish on compliance matters and separately to the Audit Committee of the company's Board

of Directors in order to ensure the independence of the Audit function.

Our Board is composed of a non- executive Chair, the company's CEO, and 11 other directors, 10 of whom are independent.

Our major governance policies are outlined in several key documents, including the Corporate Governance Guidelines, Board Committee Charters, Global Business Practices Statement, and the Supplemental Code of Ethics for Senior Financial Officers. All of these documents are available on our website.

ViacomCBS is a leading global media and entertainment company that operates through four segments: TV Entertainment, Cable Networks, Filmed Entertainment, and Publishing. Owners of our Class A Common Stock are entitled to one vote per share. Our Class B Common Stock does not have voting rights. ViacomCBS Class A and Class B Common Stock are listed on The Nasdaq Stock Market LLC.

As of June 30, 2020, National Amusements, Inc. ("NAI"), a closely held corporation that owns and operates movie screens in the U.S., the United Kingdom ("UK") and South America and manages additional movie screens in South America, directly or indirectly owned approximately 79.4% of our voting Class A Common Stock, and approximately 10.2% of our Class

A Common Stock and Class B Common Stock on a combined basis.

More than half of Board	BOARD OF DIRECTORS	INDEPENDENCE	DIRECTOR SINCE
members and over 35%	Shari E. Redstone (Non-Executive Chair)	No	1994
Candace K. Beinecke	Yes	2018
of senior leadership are	Barbara M. Byrne	Yes	2018
women	Linda M. Griego	Yes	2007
	Judith A. McHale	Yes	2019
	Susan Schuman	Yes	2018
	Nicole Seligman	Yes	2019

	Robert M. Bakish	No	2019
	Brian Goldner	Yes	2018
	Robert N. Klieger	No	2017
	Ronald L. Nelson	Yes	2019
	Charles E. Phillips, Jr.	Yes	2019
	Frederick O. Terrell	Yes	2018

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EXECUTIVE LEADERSHIP

STANDARDS

GRI: 102-28,102-35

All employees, including senior executive leadership and Directors, are subject to the company's Global Business Practices Statement(BPS), which is our Code of Conduct. Our Chief Executive Officer, Chief Financial Officer, and Chief Accounting Officer are also bound by a Supplemental Code of Ethics for Senior Financial Officers, which is subject to Board oversight. The Nominating and Governance Committee and the Compensation Committee periodically review the company's programs for management development and succession.

Both Viacom and CBS had, for several years, included the achievement of diversity and inclusion goals among the non-financial factors the Compensation Committee must consider in setting final bonus amounts, and ViacomCBS continues this approach. Twenty percent of each executive's bonus is determined based on our achievement of qualitative factors, including continuing to build a workplace culture of dignity, transparency, respect, diversity, and inclusion.

RISK MANAGEMENT APPROACH

GRI: 102-30

The business affairs of the company are managed under the direction of the Board of Directors, which represents and is accountable to the company's stockholders. The Board's responsibilities are active, not passive, and include the responsibility to regularly evaluate the strategic direction of the company, management policies, and the effectiveness with which management implements its policies. As part of this, the Board is responsible for oversight of the Company's processes and policies with respect to risk management. The Board carries out its responsibilities directly and also delegates oversight of certain types of risks - including risks relating to financial reporting, legal and regulatory compliance, compensation programs, and ESG issues - to the most

relevant of its three standing committees. Each of the committees and the Board also regularly hears from and can readily access senior executives on potential strategic, financial, legal or operational risks, as needed.

COMPLIANCE AND

ETHICAL CONDUCT

GRI: 102-16,102-17,102-25,205-1,205-2,206-1

We take compliance with all applicable laws and regulations seriously and work to go above and beyond these requirements.

Our conduct guidelines for all employees and Directors are laid out in our BPS. It covers expectations and standards for employee behavior on a range of issues. They outline our overall ethical approach and explain our shared responsibilities, including ensuring a safe workplace, acting in the best interest of ViacomCBS, safeguarding our assets, and reporting concerns. All ViacomCBS employees are trained on our Code

of Conduct.

ViacomCBS is a large company operating in multiple countries and with many different types of business partners. We have protocols in place to prevent corruption and bribery, anti-competitive behavior, labor rights, harassment and discrimination, information security, and conflicts of interest. Our BPS contains employee guidelines for navigating potential ethical risks, including methods for escalating or reporting concerns to managers or through OPENLINE, our anonymous, 24/7 reporting hotline managed by an independent third party.

All employees are covered by a non-retaliation policy that prohibits retaliation against any employee for raising or helping to address an integrity concern in good faith.

The Chief Compliance Officer reports incidents regularly to the Audit Committee of the Board.

COMPLIANCE AND

INTERNAL AUDITS

We continually work to create and strengthen a culture of transparency and compliance across the company. Our internal compliance team evaluates the Code of Conduct every other year and reports to the Board regularly on employee Code of Conduct training and other relevant Compliance and Audit matters. We conduct periodic internal audits of our operations to ensure we are meeting all legal and regulatory requirements and have a program in place to address any potential issues.

IMAGE:

CBS, Bob Hearts Abishola

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DATA PRIVACY

AND SECURITY

GRI: 418-1

The media industry has been profoundly affected by the transition to a more digital world, and data privacy and information security are important material topics for ViacomCBS.

They are issues that show up across our global business, from digital content to live events and experiences. Given the complexity, scale, and scope of these various consumer touchpoints, managing the data to which we have access is a constantly evolving challenge. We have developed robust internal processes to ensure we are not only meeting regulatory requirements but also maintaining the trust of our consumers and partners.

Through our streaming platforms, live events, and other aspects of our business, we sometimes collect or have access to personal information from consumers, employees, third-party businesses, and others. This could include personal information, like names, addresses, and government identification numbers, as well as geolocation data or other user characteristics.

We have centralized privacy and information security teams dedicated to monitoring the regulatory landscape and ensuring compliance with international and domestic privacy laws by adopting standardized corporate-wide personal data protection best practices that support ViacomCBS business objectives and mitigate regulatory, financial, and reputational risks.

As regulations continue to evolve around the world, we will adjust our processes to meet new requirements. We take particular care when dealing with data collection related to children. Various legislation, including the General Data Protection Regulation in the EU and the Children's Online Privacy Protection Act in the U.S., mandates a higher level of privacy protection for children. For example, our privacy and compliance teams review technologies used on our platforms, to ensure they are meeting the relevant standards within a particular jurisdiction.

Our employees are regularly trained on information security and privacy policies. We also perform information technology compliance testing regularly to ensure policies are being followed, and an independent audit team reviews our information security protocol quarterly.

The Board's Audit Committee has oversight of the Company's processes and policies with respect to cybersecurity programs and risk. Our Chief Information Security Officer periodically updates the Committee on our information security program and cybersecurity risk management.

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PUBLIC POLICY

ENGAGEMENT

GRI: 102-13, 102-21,415-1

Through our Global Government Relations team,

we work with policymakers at all levels of government in countries around the world. Our goal is to educate public officials on ViacomCBS's role in the creative economy and advocate for the company's interests on key policy issues.

We engage with our primary U.S. regulators - the Federal Communications Commission and the Federal Trade Commission - as well as elected officials either directly or through industry associations and memberships. We are a member of the Motion Picture Association of America, NCTA - The Internet & Television Association, and the National Association of Broadcasters, among other groups.

While we engage on a number of public policy topics, we are particularly focused on intellectual property, copyright, taxation and tax credit policies, and foreign trade issues.

We include guidance on employees participating in the political process in our Code of Conduct, and ViacomCBS follows all relevant laws and regulations. We make all political contributions through the ViacomCBS Political Action Committee (PAC). We publicly disclose all contributions to the Federal Election Committee. In 2019, the legacy Viacom PAC contributed $185,500 to federal candidates and federal campaign committees, and the legacy CBS PAC contributed $104,500 to federal candidates.

IMAGE (TOP AND LEFT):

CBS Diversity & Inclusion Initiatives,

CBS Evening News

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ACTION

ON-SCREEN

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ON-SCREEN CONTENT AND SOCIAL IMPACT

The content we produce through our studios, networks, and streaming has immense power. It both reflects and shapes culture, influencing how people understand the important issues we all face, often putting them on their radars for the first time.

ViacomCBS has incredible reach: we have the biggest broadcast footprint globally, with 31.2 billion hours of content consumed globally per year and more than 4.2 billion homes across the world getting our broadcast and cable television. With our premium streaming services, we have one of the largest inventories of premium digital video ads in the industry, with 50 million full-episode viewers monthly. We recognize the responsibility that comes with the impact we have on viewers.

This is why we have made on-screen content a central focus of our ESG strategy.

Through our content, our viewers let us into their homes - their lives - in very personal ways. This relationship demands that we earn our viewers' trust through a variety of responsible practices. To do this, we are focused on maintaining the integrity and accuracy of our editorial practices and strategically using our platforms to create positive social impacts.

IMAGES FROM PREVIOUS PAGE:

(FROM LEFT TO RIGHT):

SHOWTIME, The Chi; CBS,

The Neighborhood and CBS, NCIS

IMAGES THIS PAGE (FROM LEFT

TO RIGHT): SHOWTIME, Queer as Folk; CBS,

NCAAB National Championship; CBS, NCIS

We are focused on amplifying the diverse voices and stories of our audiences and their worlds - through our studios where we make content for ourselves and third parties, through our networks that are distributed all around the globe, and through our rapidly growing streaming business across Free, Broad Pay, and Premium segments. We have a track record of advancing diverse narratives and talent in our content - both in front of and behind the camera. Over the past year, we have expanded and formalized these efforts. Continuing this work is core to our ESG strategy, which focuses in part on expanding diversity and inclusion across our content and community- focused social impact programs, our internal culture and workforce, and our approach to sustainable productions and operations including supplier diversity.

We work to ensure that how and what we produce not only follows regulations and industry guidelines but aligns with our values and internal standards. The diversity of our brands, programming, and audiences requires us to prioritize creating diverse and inclusive content, delivering accurate information, fostering creative expression, and protecting vulnerable groups like children.

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DIVERSE AND INCLUSIVE CONTENT

Developing content that reflects the diversity of our audiences and their unique realities helps us build strong relationships with viewers across generational and demographic boundaries.

2000

DECEMBER 2000

SHOWTIME, Queer as Folk: The first hour-long drama to explore the lives of gay men and women in America runs for five seasons

JANUARY 2001

CBS, Super Bowl XXXV: CBS' Greg

A HISTORY OF ELEVATING CONVERSATIONS ABOUT DIVERSITY

ViacomCBS has been a pioneer in telling the stories of under- represented audiences. Our brands represent the widest range of diverse audiences of any major media company: Our programming reaches audiences in 180 countries and 45 languages, and we are one of the largest producers of Spanish language content in the world. The content we produce is built on a legacy of firsts in elevating conversations about diversity. For example, BET is the oldest and most prominent cable network devoted to Black culture, and LOGO was the first cable channel inspired by the LGBTQ+ community.

1990

JULY 1994

Paramount Pictures, Forrest Gump: Oscar- winning film includes multidimensional primary characters with mental and physical disabilities

OCTOBER 1994

Nick Jr., Gullah Gullah Island: One of the first preschool shows to feature a majority of African American characters

JUNE 1998

MTV, Staying Alive: Documentary spotlights young people's experiences with HIV and AIDS and expands to become global non-profit organization

Gumbel becomes the first African American play-by-play announcer for the Super Bowl

JANUARY 2003

Comedy Central, Chappelle's Show: Ground-breaking comedy show challenges racial and gender norms

JANUARY 2004

SHOWTIME, The L Word: Drama series debuts and goes on to become an iconic representation of lesbian women in America

SEPTEMBER 2006

CBS, CBS Evening News with Katie Couric: Katie Couric becomes the first solo female anchor on broadcast evening news

IMAGE:

SHOWTIME, THE L WORD: GENERATION Q

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2010

2020

JULY 2007

Logo, Rick & Steve: The Happiest Gay Couple in All the World: Stop-motion,satiric comedy series features a gay Filipino American lead character on television

NOVEMBER 2007

Nick Jr., Ni Hao, Kai-Lan:Cartoon exposes preschoolers to Chinese-Americanculture and the Mandarin language

FEBRUARY 2009

Logo, RuPaul's Drag Race: Reality competition helps to bring drag culture into the mainstream and encourages awareness and acceptance of the LGBTQ+ community

MAY 2009

Paramount Pictures, Star Trek: J.J. Abrams' reboot of the iconic Star Trek franchise features a young, diverse cast

NOVEMBER 2009

MTV, MTV Shuga: Drama series debuts that destigmatizes taboo issues related to sexual reproductive health and rights across sub-Saharan Africa

APRIL 2012

Telefe, La Pelu: Comedy show with a transgender host challenges television programming norms in Argentina

DECEMBER 2014

Paramount Pictures, Selma: Director Ava DuVernay becomes the first woman of color to direct an Oscar nominee for Best Picture

SEPTEMBER 2015

Comedy Central, The Daily Show with Trevor Noah: Trevor Noah becomes the first Black host of a major late night TV show

MAY 2016

Nickelodeon, Loud House: Animated series features an interracial, same-sex couple, as well as stereotype-defying portrayals of young women

FEBRUARY 2017

SHOWTIME, Billions: Asia Kate Dillon appears as Taylor Mason, the first gender nonbinary character on TV in North America

JULY 2017

MTV, MTV Movie & TV Awards: The Movie

TV Awards eliminates gender distinction in categories and the iconic VMA statue becomes gender neutral "Moon Person"

JANUARY 2018

SHOWTIME, The Chi: Drama series created by Lena Waithe premieres, giving an in-depth look at the Black community in the South Side of Chicago

MARCH 2020

BET, Twenties: BET debuts Lena Waithe's Twenties, the first show featuring a Black, masculine-presenting queer woman as the lead character

JUNE 2020

CBS Sports, 8:46: Campaign featuring personal stories from many of CBS Sports' Black voices spread out across eight minutes and 46 seconds to bring awareness to issues impacting the Black community

JULY 2020

Comedy Central, Awkwafina: The network's first all-female writers' room and the brand's first series starring and featuring a predominantly Asian American cast

IMAGES (FROM LEFT TO RIGHT):

CBS, All Rise; CBS, Super Bowl LIII

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PROMOTING DIVERSITY AND INCLUSION IN FRONT OF AND BEHIND THE CAMERA

The best way to deliver content that reflects the world's diversity is to make sure that our creators are diverse, too. To strengthen representation in front of and behind the camera, we are thoughtful about the programs, training, and resources we build and provide.

40%

BIPOC representation in all writers' rooms across the CBS Television Network and SHOWTIME, goal for the 2021-22 programming season

GOALS AND METRICS

We're developing goals and metrics to track our progress on expanding diversity on air and behind the scenes. Ultimately, we hope every ViacomCBS production will have specific diversity goals and metrics. In 2020, we announced a new goal that all writers' rooms across the CBS Television Network and SHOWTIME will have a minimum of 40% Black, Indigenous, and People of Color (BIPOC) representation for the 2021-22 broadcast season, with a goal to increase that to 50% for the 2022-23 season.

In 2020, CBS has made a commitment that it will devote 25% of its script development budget to projects created or co-created by BIPOC beginning with the 2021-22 development season.

Additionally, CBS Television Studios and the NAACP (National Association for the Advancement of Colored People) reached an agreement on a multi-year partnership to develop and produce scripted, unscripted, and documentary content for linear television networks and streaming platforms.

Also in 2020, ViacomCBS Networks UK committed to a range of new initiatives to embed diversity into all aspects of the company, including implementing

a "no diversity, no commission" content policy for its suppliers and creating an Inclusion Board with its senior leadership team that will give quarterly reports on performance.

25%

of CBS script development budget committed to projects created or co-created by BIPOC

IMAGES (FROM LEFT TO RIGHT):

CBS News, This Morning; CBS studio

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UNCONSCIOUS BIAS TRAINING

We are implementing unconscious bias training into all of our productions globally. It focuses on increasing awareness of the biases we may all have in recruitment and hiring, assignment of work projects, content development, career development and promotions, and informal socializing.

WRITING, DIRECTORS, AND ARTISTS PROGRAMS

We are helping develop the next generation of writers from under-represented communities through a series of brand

and companywide pipeline development programs. These programs include the CBS writing, directing, and casting programs and the Nickelodeon writing and artists programs. Accepted participants get direct mentoring from our series creators, work

in writers' rooms, and receive hands-on experience writing spec scripts and pitching story ideas. These programs have helped launch the careers of over 100 writers, directors, and other artists from diverse backgrounds.

VIEWFINDER EMERGING DIRECTOR PROGRAM

This program gives directors from under-represented communities an opportunity to shadow TV directors on scripted and non- scripted programming. Each of the seven to 10 participants directs a TV episode for a ViacomCBS brand. In 2019, the program included seven female and ethnically diverse emerging directors working with six of our brands: BET, Comedy Central, Nickelodeon, MTV/VH1, Paramount Network, and Paramount Television Studios.

PROJECT CRE8

In 2019, BET Networks and Paramount Players launched this program to give undiscovered filmmakers the opportunity and budget to produce an original film to air on BET. The winning director received a $1,000,000 budget to produce their original film. In 2020, BET is expanding the program to TV, and is seeking the producer of the next great comedy television show.

BET/BLACKHOUSE

FELLOWSHIP PROGRAM

This program gives Black Masters of Fine Arts students from across the U.S. the opportunity to participate in programs at the Sundance Film Festival and other global film festivals that increase access for exceptional writers, directors, and producers.

AUDITIONING ACTORS WITH DISABILITY

In June 2019, CBS became the first in the industry to respond to a request from the disability advocacy organization Ruderman Family Foundation. We signed the Ruderman Family pledge, becoming the first major media company to pledge to audition actors with disabilities for roles in our productions.

YES, AND… LAUGHTER LAB

Comedy Central was an inaugural sponsor and partner for this competitive incubation lab and pitch program that lifts up diverse comedy writers and performers, creating new comedy on social change issues. The Laughter Lab is designed to introduce comedians to the entertainment industry, social justice organizations, philanthropists, and activists who can help bring their work into the comedy marketplace - and into movements for social change.

COMEDY CENTRAL X SUNDANCE INSTITUTE COMEDY FELLOWSHIP

In partnership with the Sundance Institute, Comedy Central established a grant to support the next generation of more diverse comedy voices by funding one Comedy Fellowship to the Sundance Institute's Episodic Lab and one Comedy Fellowship to the Sundance Institute Screenwriters Lab. The Fellowships includes a $10,000 cash grant for each Fellow and customized mentorship from Comedy Central executives, alongside the Institute's flagship Lab program

and year-round ecosystem of support.

IMAGES (FROM LEFT TO RIGHT):

CBS, The Unicorn; CBS, The Neighborhood

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HOLDING OURSELVES

ACCOUNTABLE ON

DIVERSE CONTENT

We are committed to telling stories that capture the human experience in all its diversity.

We know that intentional leadership, a system of governance practices, and accountability help us deliver on this commitment. Our efforts are strengthened by the comprehensive and coordinated approach we take across our content production and distribution, our workforce, and by supporting communities of color and the LGBTQ+ community through our social impact programs.

This work is led by our Office of Global Inclusion (OGI), which oversees our day-to-day work on diversity and inclusion, and our Global Inclusion Advisory Council (GIAC). GIAC is composed of leaders from across

the company, who guide our diversity and inclusion initiatives with the Global Inclusion team. It meets regularly, ensuring we deliver on our commitment to include a plurality of voices and consider diversity in all content decisions - from story development, to accuracy and integrity, to talent and production staff recruitment, to content distribution. The group ensures executive level engagement across our diversity efforts and provides thought leadership to help develop goals and metrics to drive and track our performance. It also provides strategic direction on our workforce diversityand supplier diversity initiatives.

Our diversity and inclusion teams engage with advocacy groups such as Color of Change, SeeAll, and SeeHer to understand how we can more effectively represent the stories and realities of our audiences. We work with external partners, including National Action Network, National Association for the Advancement of Colored People (NAACP), Asian American Legal Defense and Education Fund, and others to support equal access to content.

Our Standards and Practices department provides oversight for all content and advertising within the CBS Television Network, CBS All Access, basic cable brands (media networks or pay brands), and BET+. A central focus of this work is ensuring our content represents diverse perspectives and experiences while giving marginalized groups a voice.

Standards and Practices works closely with internal and external content creators to ensure that programming meets moral, legal, and ethical standards. We adhere to all pertinent government regulations where applicable and perform robust self-regulation in accordance with industry best practices, brand identities, advertiser and public expectations, and audience demographics.

Our creative content review process demands complicated subjective judgements, balancing our responsibility to our viewers with the needs of the creative community to explore new and innovative ideas. Creative spirit and expression exist in tandem with ever- evolving community standards and acceptability.

We develop and enforce internal standards for illustrating and promoting diversity and inclusion and depicting delicate content thoughtfully. We do this by working with brand executives, corporate executives, content creators, special interest groups, and experts to understand and respond to local context and cultures. We monitor press and social media for cultural shifts, consumer sensitivities, complaints, and industry approaches to depicting diverse communities.

The Standards and Practices group is purposely independent from the creative and ad sales groups and reports directly to our corporate legal team to provide an external review of potential conflicts of interest across content, sales, and marketing groups within ViacomCBS.

In 2019, we formed a Content Creation Council made up of senior leaders from across the company. This group helps ensure accountability for diversity in storylines, talent, vendors, and shooting locations. Part of this work includes putting in place ways to measure our effectiveness in expanding diversity in front of and behind the camera - from actors and writers to production crew members.

IMAGE: CBS Sports

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RESPONSIBLE CONTENT AND ADVERTISING

We follow responsible business practices and editorial guidelines to deliver accurate information, foster creative expression, protect vulnerable groups,

and ensure a responsible approach to advertising.

Our Standards and Practices group takes a lead role in much of this effort, working with creative bodies, internal and external executives, and producers to ensure our production and advertising adheres to governmental regulations, self-regulatory practices, voluntary content ratings, and advertising guidelines.

ENSURING ACCURACY AND INDEPENDENCE

Depicting the realities of our viewers' worlds accurately and safeguarding the independence of our content producers is essential to creating meaningful content. CBS News, for example, is - and must remain - a trusted, accurate, and independent news source.

We follow internal editorial policies and best practices for quality and accuracy, independence, freedom of expression, and, where appropriate, protecting the privacy of sources. And, we have internal standards and practices processes to ensure adherence to these policies, through the pre-broadcast review of scripts, graphics, and finished

news segments.

For example, CBS News ensures its content meets its standards for accuracy and independence through its Legal function, which is purposely distinct and independent from the rest of the organization. CBS News follows a stringent process for gathering and verifying content led by dedicated research and reporting teams. These

teams work directly with on-air anchors and reporters to confirm that nuances of content are represented accurately.

A RESPONSIBLE APPROACH TO ADVERTISING

We work with advertisers to ensure any commercial content on our platforms meets legal and regulatory requirements, voluntary industry guidelines, and our brand sensitivities for community acceptability. Our dedicated advertising standards group, a dedicated group within Standards and Practices, reviews all commercials to ensure compliance with the foregoing.

Our advertising policies ban tobacco and illegal drugs and activities. We also do not allow the portrayal of discriminatory behavior or positive depictions of risky behavior. We impose additional restrictions on advertising categories that are sensitive to our audience, such as gambling, weight loss, video games, religious, political, and advocacy.

VOLUNTARILY BANNING ADS ON E-CIGARETTES

In September 2019, after the appearance of deadly vaping-related illnesses, Viacom and CBS both voluntarily banned all e-cigarette and vaping product ads from all of our brands. We knew it was the right choice to eliminate the products from our programming.

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PROTECTING CHILDREN

We have strong policies in place to protect child viewers and operate in accordance with all relevant laws and regulations, including the Children's Television Act and the Children's Online Privacy Protection Rule (COPPA), as well as self-regulatory frameworks, such as the Children's Advertising Review Board Guidelines (CARU). In addition to the advertising standards described above, Standards and Practices reviews all content productions to ensure alignment with the Nickelodeon brand's integrity, as well as cultural sensitivities and the TV Parental Ratings system. Through Nickelodeon and the Noggin app, we seek to be the safest - and the most engaging - digital entertainment place for children. Our digital safety efforts are increasingly important as children spend more of their "screen time" online, and we have implemented robust safeguards to protect their privacy while interacting with our digital offerings. For example, Noggin is an education and entertainment service geared for preschool age children that provides ad-free access to shows, games, and educational activities with strong parental and privacy controls.

We submit quarterly reports to cable and broadcast affiliates, where applicable, who are responsible for adhering to the FCC's Children's Television Act, substantiating compliance with regulatory requirements.

DEPICTING RISKY BEHAVIORS RESPONSIBLY

While we don't shy away from depicting the reality of difficult issues, we partner with experts in various outlets to accurately and respectfully represent content important to our target audiences. We seek to inform and provide resources to those who are at risk. We follow regulatory, industry, and internal standards and often consult with outside experts when depicting behaviors including mental illness, violence, and addiction.

INTELLECTUAL PROPERTY AND COPYRIGHT

Intellectual property is a material issue to our business. Acts of piracy not only impact our bottom line, but result in lost jobs, wages, and revenues. Protecting intellectual property is a core ethical issue covered in our Business Practices Statement, to which every ViacomCBS employee must adhere. We have a strict copyright policy to help as well as guidelines for soliciting content through social media to help protect our own and others' intellectual property.

Advertising directed to children is subject to increased regulation and standards, and so a dedicated standards group within our Standards and Practices department ensures it undergoes further scrutiny. We consider children's intellectual and emotional maturity and try to ensure that advertising does not exploit their imaginations or susceptibility to being misled. The group also ensures compliance with relevant regulatory requirements, including the FCC's Children's Television Act and FTC'S COPPA requirements, as well as self- regulatory bodies such as the Children's Advertising Review Unit, the Motion Picture Association of America, and the Entertainment Software Rating Board.

IMAGE: CBS, CBS News

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USING OUR CONTENT PLATFORMS FOR GOOD

GRI: 102-12

We have always sought to "show up" on issues that align with our capabilities and matter to our viewers and their communities.

Our commitment to share the experiences of diverse audiences through our content is part of how we do this. By telling people's stories accurately and with integrity through our studios, networks, and streaming, we seek to expand our viewers' understanding of the world and the important issues we all face.

RESPONDING TO POLICE VIOLENCE AND SYSTEMIC RACISM

On May 25, 2020, George Floyd was murdered by a Minneapolis police officer who knelt on Floyd's neck for nearly nine minutes. This followed closely on the deaths of other innocent Black Americans including Ahmaud Arbery, Breonna Taylor, and Tony McDade, adding to an unbearable tally of those who have been killed because of the color of their skin. These and other devastating events highlight the reality that we live in a country - and world - divided by systemic racism that forces Black people to live in fear for their lives and the lives of their loved ones. This is a reality we at ViacomCBS will not accept. We don't pretend we have the solution. But we know we must - and we are - using our platforms to help effect change.

On Monday, June 1 - one week after the killing of George Floyd - 10 of our brands, including MTV, BET, Comedy Central, CMT, and CBS Sports Network, went dark across their platforms for 8 minutes and 46 seconds - showing a black screen with the words "I can't breathe" to honor George Floyd and pay tribute to other victims of racial violence. We also participated in Blackout

Tuesday on June 2, an effort initiated by the U.S. music industry to provide time to reflect, organize, and strategize about how we can be a force for change. Across our brands we delivered content to provide information and ideas on how all of us join this anti-hate force.

Our employees are finding new ways to come together to help eradicate systemic racism, and we are providing resources to support them in doing so. We distributed a toolkit of resources with conversations to join, books to read, and organizations to which to donate for Blackout Tuesday. We also produced and distributed a Social Justice Toolkit to employees as part of our Virtual Community Day, which followed shortly after.

Also, in early June, BET announced "Content for Change," a major social justice initiative anchored in the belief that media plays a pivotal role in shaping and driving individuals' and communities' values, perceptions, and actions. Working in partnership with corporate, civil rights, and social justice organizations, this effort will focus on the creation, distribution, marketing, and promotion of content that will help drive the critical changes needed to eliminate systemic racism and inequality in America. This will include bolstering our relationships with current content partners and forging relationships with up-and-coming creators to use the BET platform to rally the voices of Black lives, experiences, and calls to action. To support this unprecedented undertaking, BET and its corporate partners will dedicate $25 million in aggregated value to the Content for Change initiative. Nickelodeon hosted a primetime special hosted by

Alicia Keys, Kids, Race and Unity: A Nick News Special, to amplify young, Black voices; address kids' concerns; and offer tools for families to have constructive conversations about race and inclusivity. Content for Change will serve as a model for how we leverage the power of our brands, content, audiences, and employee connections to effect change across the entire media ecosystem.

In addition to these specific efforts, we are providing up-to-date and comprehensive coverage on this issue across our networks and plan to leverage and expand Content for Change across the ViacomCBS brands. We are amplifying the voices of our audiences, community leaders, and talent who are also using their voices for change. And, we are partnering with civil rights organizations across multiple brands, with leadership from BET, including Color of Change and the NAACP.

To be very clear, Black lives matter. Black communities matter. Black voices matter. We unequivocally stand with our Black colleagues, creators, partners, and audiences and condemn all acts of racism, discrimination, and senseless violence. We will continue to use our platforms to foster a culture that deeply values diversity and inclusion, and that embraces safe collective action for peace, justice, and equality.

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		content and	and culture	production	indices
		social impact		and operations

EXPANDING AWARENESS AND IMPROVING REPRODUCTIVE HEALTH OUTCOMES THROUGH MTV SHUGA

IMAGE: CBS News

show in Nigeria, compared to a group who did not. Cases of chlamydia in female viewers also decreased by half, as did the number of people who had more than one sexual partner. Now in its tenth season, the show's creators work directly with youth to understand issues and develop accurate and compelling stories.

"By telling stories that come from the mouths of young people about their lives we can create a media movement."

Georgia Arnold, Senior Vice President of social responsibility, Viacom International and Executive Director, MTV Staying Alive Foundation

ENCOURAGING ACTION

THROUGH FILMS ON

PRESSING SOCIAL AND

ENVIRONMENTAL ISSUES

In 2019, the Paramount Network launched "Take Action Films," a campaign to drive our audiences toward action on pressing social issues in a way that leverages our brand's filmmaking heritage. Working with NGO partners, the project resulted in three short-form documentary films about environmental justice and health issues, including one exploring how climate change is affecting Yellowstone National Park; one investigating how the Keystone XL pipeline will affect water supply and respecting the land of Indigenous people; and one revealing the health care struggles of women veterans.

"Comedy gives us the opportunity to discuss the hard truths of life. We have the power to

MTV Shuga, an on-screen scripted drama paired with a radio series, website, social media, peer education, and community screenings, tells fictional stories based on the real lives of young people about social, sexual, and reproductive issues. Set in multiple African countries, the series initially focused on HIV, but has expanded to address reproductive healthcare access, LGTBQ rights, child marriage, mental health, disability, and other issues. MTV Shuga is produced rights-cleared and cost-free so that we are able to give it away to any broadcaster, online platform, or community who wants to air it. We focus our distribution on terrestrial channels across sub-Saharan Africa and have reached over 720 million homes globally.

By shining a light on issues that had been largely hidden, good has come in the form of education, greater acceptance, and behavior change. A World Bank study conducted between 2014 and 2018 found that HIV testing doubled among a group of 5,000 young people who watched the

WHEN THE LAUGHTER STOPS: COMEDY CENTRAL TAKES ON MENTAL HEALTH

Comedy has always been about more than making people laugh. It's a unique medium for exposing and discussing difficult issues, and Comedy Central is focused on addressing the mental health crisis. In October 2019, for World Mental Health Day and in partnership with the National Council for Behavioral Health and Mental Health First Aid, Comedy Central launched the Be the Difference public service announcement (PSA) featuring comedians Jeff Ross, Yamaneika Saunders, and Matteo Lane. The PSA focused on the importance of learning the skills to show up and help people in distress, the CPR of emotional health. It drove a 66% spike in traffic to Mental Health First Aid's website the week it aired.

change the way people think about emotional health and we will work diligently to drive mental health culture change."

Erika Soto Lamb, Comedy Central Vice President of Social Impact

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EXPANDING OUR

SOCIAL IMPACT THROUGH COMMUNITY PROJECTS

GRI: 102-12,413-1

Using our platforms for good includes community projects, philanthropy, and employee engagement. We focus our social impact efforts on such issues as civic engagement, mental health, and diversity and inclusion, among others, and our brands have their own focus areas based on their different audiences and unique strengths.

ADDRESSING OVERDOSES AND SUICIDE

In partnership with the Entertainment Industries Council (EIC) and the U.S. Surgeon General, our Corporate Social Responsibility and Standards & Practices teams hosted an industry briefing on two pressing health issues: drug overdoses and suicide. It featured U.S. Surgeon General Dr. Jerome Adams; James Carroll, Director of the White House Office of National Drug Control Policy; and Keita Franklin, National Director of the Office of Mental Health and Suicide Prevention within the U.S. Department of Veterans Affairs.

The briefing was designed to help the media industry better depict these issues within content. ViacomCBS production teams and some of our industry partners discussed addiction, mental illness, and the co-occurring circumstances that can exist.

ADVANCING DIVERSITY

AND INCLUSION

Unlimited Potential (UP) Mentoring Program ViacomCBS's UP Mentoring program helps local students achieve their greatest potential. It supports the development of students' understanding of the media and entertainment industry. In 2019, we hosted mentoring sessions once a week at our headquarters in Times Square, offering students the opportunity to work alongside employees and executives of a media company in a real-lifebusiness environment.

Take Action Student Filmmaking Labs This Paramount program, in partnership with Reel Works, helps underserved students learn filmmaking to tell their own stories about issues facing their communities. In 2019, we oversaw two labs: one at the Wind River Reservation Tribal School in Wyoming, whose students made a film about missing and murdered indigenous women that was featured at the LA Skins Fest and the inaugural Native Filmmakers Lounge at Sundance; and one at Barringer High School in Newark, whose students made a film about how gun violence affects their community.

CMT Pledges 50/50 Video

Airplay for Female Artists

In January 2020, CMT announced #CMTEqualPlay, a game-changing initiative that instituted 50/50 video airplay for female artists on CMT and CMT Music. Out of the full 29-hour primetime video hours across platforms, we guarantee women will account for half the artists, an increase from the 40/60 ratio.

Supporting organizations focused on racial equality and justice

Over the past two years, we have given over $12 million to organizations that support and impact communities of color. In mid-2020, as part of our response to global protests over systemic racism, we committed an additional $5 million to the NAACP Legal Defense Fund, Equal Justice Initiative, National Bail Out, The Bail Project, Community Coalition, and others in support of their tireless work to ensure equality and justice.

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Save Our Moms

Women in the United States experience unacceptably poor maternal health outcomes relative to other developed nations. Black women in particular are even more at risk, as they are three to four times more likely to die from complications related to pregnancy and childbirth than their white counterparts. But over half of these deaths are preventable. MTV teamed up with Every Mother Counts and Black Mamas Matter Alliance as well as Directors Lena Waithe and Minhal Baig to develop a PSA that sheds light on this human rights crisis. The video has received over

six million views on digital platforms and driven viewers to a unique set of resources that underscores how the health of mothers is in all of our hands.

CREATING LASTING IMPACT

Community Investment:

Enabling employee engagement and volunteering
Global giving through direct donations and in-kind contributions
Cross-portfoliocampaigns and partnerships

Brand Activations:

Audience and talent engagement
Integrated giving and social impact initiatives
Amplifying resources

Through our content:

Expanding diverse and inclusive content
Using our platforms for good
Public service announcements

LEANING INTO OUR

BRAND STRENGTHS

BET breast cancer awareness

Every October, BET "goes pink" for breast cancer awareness month by rolling out original programming focused on building awareness of the disease among women of color. In 2019, we held the third annual "BET Her Fights: Breast Cancer," a one-hour special that shared the stories of Black women. BET Her also premiered a fictional anthology series of four 10-minute short films following the journeys of five women in a doctor's waiting room who discover they have breast cancer. All stories were written and directed by Black women.

Beyond the Backpack Nickelodeon's Beyond the Backpack champions kindergarten readiness and provides fun and simple tools to address five areas critical to educational success: family engagement, health and wellness, literacy skills, social and emotional skills, and STEAM (science, technology, engineering, arts, and math) skills.

SOCIAL IMPACT INITIATIVES

ENCOURAGING CIVIC ENGAGEMENT

Leaders for Change is an MTV grant program that invests in young people working to advance voting access. In 2019, MTV gave grants to nine young leaders working to break down voting access barriers in their communities, including getting polling places on college campuses across Michigan, registering voters in Chicago jails, and providing rides to
the polls in Georgia
MTV's +1 the Vote encouraged more than 4 million people who turned 18 before the 2020 general election and all potential first-timevoters to register and vote. This year-longcampaign was focused on making voting easier and part of the milestones already happening in their lives
Vote Early Day is an effort by a coalition of media companies, nonprofits, technology platforms, election administrators, influencers, and other businesses that MTV and ViacomCBS spearheaded
to help all eligible voters learn about their options to vote early. This collective, open-source model - like Giving Tuesday and
National Voter Registration Day
- ensured that millions more Americans took advantage of their options to vote early
Nickelodeon supported the U.S. Census effort by using its most beloved characters and live action stars to build awareness on the importance of counting kids and babies in the 2020 Census
Kids Pick the President empowered kids to be involved in the presidential election process. It not only covered the issues, process, and candidates, but it also gave kids a voice and a vote in this important national event

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Paramount's Kindergarten

To Cap & Gown

Paramount's Kindergarten To Cap & Gown program prioritizes mentoring through storytelling. Through the program, which we established more than a decade ago, 100 employees in Los Angeles and the UK mentor students in six public schools every year.

Noggin Cares

Nickelodeon is making its preschool subscription service, Noggin, available free to families in association with the National Headstart Association, First Book, and many other nonprofit partners.

MTV International's

Generation Change

According to ViacomCBS Global Insights research, the #1 element that leaves young people feeling limited in their power to create change is lack of support or knowledge of topics. With this insight in mind, MTV International launched "Generation Change": a global social impact initiative that elevates and empowers young people driving change. MTV International embeds social good in its culture and uses its brand to spotlight important issues while focusing on youth activism.

Transforming Paramount's Animation Features into learning for kids

The LA Promise Fund, with Paramount Pictures, created an education program that transforms Paramount's Animation Features into a robust learning experience for public school students. In 2020, we hosted our third annual cohort of teachers focusing on the animation process, while also incorporating timely social, emotional, learning, and writing skills for their classrooms based on The SpongeBob Movie: Sponge on the Run.

$18M

monetary donations to community

and non-profit organizations in 2019

22,300+

public service announcements, worth over $20.8 million, aired in 20193

Our response to the COVID-19 pandemic

$100 million committed to help provide support to those impacted by the COVID-19 pandemic

3 Value of public service announcements is estimated based on data provided by schedulers on airing days and times

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ACTION

WORKFORCE AND CULTURE

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GRI: 102-8

Our employees and our talent are our biggest stars and what makes ViacomCBS extraordinary. As we continue to integrate our companies post‑merger, we are building a culture to attract and retain the best employees and to build a workplace where everyone feels welcome, safe, and inspired to bring their whole self to their job. As of July 31, 2020, we employ approximately 23,801 full-time and part-time employees, in 35 countries.

Developing and supporting this culture starts at the very highest levels of the company, with our Board of Directors and executive leadership team. Our Board is highly engaged on culture and employee issues, and our CEO updates the Board on these topics at every Board meeting.

As of July 31, 2020, we employ approximately 23,801 full-time and part-time employees, in 35 countries.

IMAGES FROM PREVIOUS

PAGE: (FROM LEFT TO

RIGHT): Viacom Diversity

& Inclusion; CBS Pride

IMAGE LEFT:

CBS Diversity & Inclusion

Initiatives

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A CULTURE OF DIVERSITY AND INCLUSION

Recent events, including the protests over systemic racism and police brutality, have reinforced that understanding diverse points of view and making real progress on inclusion and equality are critical and urgent.

Diversity and inclusion have been - and remain - at the core of our overall company culture as well as our company-wideESG strategy. We have a long track record of representing diverse audiences and expanding diversityin front of the camera. But we have not achieved all of the outcomes we want and need, and that must change. We acknowledge we have more work to do, including increasing the diversity of our workforce.

A diverse and inclusive workforce - that which reflects and celebrates the diversity of our audiences - underpins our ability to be the best creators and storytellers possible. It strengthens our creativity, innovation, and results. Prioritizing inclusion also improves retention rates, expands engagement and satisfaction, and creates a stronger sense of belonging among employees.

HOLDING OURSELVES ACCOUNTABLE FOR DIVERSITY AND INCLUSION

Our executive team, Board of Directors, and Office of Global Inclusion lead our commitment to diversity and inclusion. More than half of our current Board Directors are women, which we believe is a good baseline expectation for

companies today. We recognize we have a long way to go in advancing other measures of the diversity of our Board and senior management team, including racial or ethnic diversity. We want our commitment to diversity to be visible across our workforce, including at the leadership level.

Our Global Inclusion Advisory Council (GIAC) - made up of senior leaders from across all our brands and divisions - and our Office of Global Inclusion (OGI) are dedicated to building and strengthening a culture of inclusion across the company. These teams manage our efforts to deliver diverse and inclusive content, support diversity in our community and social programs, and expand our base of diverse suppliers. This coordination in diversity governance across our activities, brands, and divisions strengthens and amplifies our efforts.

The GIAC and OGI ensure that we have C-suite-level engagement, that all our brands and divisions are involved, and that diversity and inclusion are integrated into our overall business planning processes. They also build accountability by identifying goals and metrics to help drive our performance and support transparent reporting on our progress.

For example, GIAC and OGI are currently working with leaders across the company to develop goals and metrics on hiring and promotion of diverse candidates to ensure everyone has the same chance of career advancement. In 2020, we announced a new goal that all writers' rooms across the CBS Television Network

and SHOWTIME will have a minimum of 40% BIPOC representation for the 2021-22 programming season.

To drive leadership accountability, we revised our executive compensation to include short-term incentive plan goals linked to diversity and inclusion.

In 2019, our CEO Bob Bakish signed the CEO ACTION pledge on diversity and inclusion. In doing so, he committed ViacomCBS to develop strategic inclusion and diversity plans in conjunction with our Board of Directors; implement unconscious bias training; foster and support difficult but important conversations about diversity; and share best practices with other pledge signatories.

We believe all employees in similar roles with similar performance should be paid equally, regardless of their gender or ethnicity, and we remain committed to being vigilant to ensure that happens. As a newly combined company still integrating our business and systems, we are progressing on several initiatives that will allow us to assess pay gaps and take action where necessary. Effecting change takes time and focus, but we know that equal pay is about more than fairness

it's simply good business and a key component of our Diversity and Inclusion strategy.

ViacomCBS ESG Report 2019

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FOSTERING A DIVERSE WORKFORCE AND INCLUSIVE WORKPLACE

GRI: 405-1

We are working to strengthen our culture of inclusion through a range of diversity-focused recruitment, advancement, training, and employee support programs.

A PROACTIVE APPROACH TO ATTRACTING DIVERSE TALENT We partner with over 65 diversity- focused institutions committed to gender, ethnicity, LGBTQ, military/ veterans, persons with disabilities, and others. We attract and mentor writers, directors, and artists from diverse backgrounds through a range of programs and have helped launch the careers of hundreds of people at ViacomCBS and across our industry.

We have a system in place to build a diverse pipeline across all our corporate positions, including ensuring that our job postings reach an expansive network that includes more than 60 diversity job boards and leveraging technology to identify and eliminate biasing language from our job descriptions and recruitment correspondence. For every open Vice President and higher position, we require that the slate of potential new hires

is diverse.

DEVELOPING AND ADVANCING DIVERSE LEADERS WITHIN THE COMPANY

We partner with a range of external education organizations to nominate and support women and non-white employees for prestigious leadership training opportunities. Over 500 legacy-Viacom leaders have graduated from these diverse leadership programs.

EXPANDING TRAINING

ON UNCONSCIOUS BIAS

We are implementing unconscious bias training at all levels of the company and inclusive leadership training specifically for executives. These programs drive awareness of biases that may surface in talent assessment and selection, assignment of work projects, content development, career development and promotions, and informal socializing. The goal is to disrupt bias and teach leaders how to adopt more inclusive management styles. We also have specific production- focused unconscious bias training to support content diversity in front of and behind the camera.

IMAGE: CBS Diversity & Inclusion Initiatives

CREATING OPPORTUNITIES FOR PEOPLE WITH DISABILITIES

We seek to create an organizational culture that enables and is made better by disability inclusion. We are working to measure and understand the disabilities our employees may have. In the UK, regulatory commissions require companies to disclose disability statistics. The U.S. does not have the same requirement

meaning the information is self- reported, thereby presenting a challenge we are working to address.
In 2019, we launched a company-wide campaign to encourage self-reporting about disabilities and we provide education across the business to eliminate any associated stigma.

Our IT department is also working on assistive technology to aid employees with disabilities. Our UK office is "Disability Confident," which means we have joined a regional commitment to achieve best practice in recruiting and developing people with disabilities and giving them the support they need to thrive in their careers.

SUPPORTING EMPLOYEE

RESOURCE GROUPS

We foster diversity and inclusion by supporting 65 employee-led Employee Resource Groups (ERG) chapters in 13 locations worldwide. Our ERGs embody the spirit of diversity and inclusion by providing a forum for employees to flourish personally and professionally while offering direct business support to all our brands. Through over 200 events each year, the ERGs offer training, recruitment, and advancement support; awareness raising; networking events; cultural activities; and community service projects. More than 50% of legacy Viacom employees were part of at least one ERG in 2019. We are now working to integrate the ERGs from legacy Viacom and legacy CBS and expand participation across our merged company.

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GLOBAL INCLUSION WEEK

VIACOMCBS EMPLOYEE

RESOURCE GROUPS

AMP (Asian American Media Professionals) focuses on the
Asian American and Pacific
Islander experience
THE BEAT is dedicated to the Black/African American experience
HERE is devoted to women in the workplace at the Director and Vice President levels
EMERGE focuses on the
LGBTQ+ experience
Fusion celebrates cultural diversity in the workplace across our international and multicultural population
SOMOS focused on enhancing the representation of the Latinx community within our walls and on our screens
The ParentHood focuses on the needs of working parents and families
Thursday Think provides professional development opportunities for early- to mid-career employees across the organization
Veterans Network works to ensure the company does all it can to promote the well-being of its Veteran employees

IMAGE: CBS Diversity & Inclusion Initiatives

Top 70

Companies for Executive Women in 2020, according to the National Association for Female Executives

100%

Human Rights Campaign - Corporate Equality Index Score since 2005

In 2019, legacy Viacom hosted Global Inclusion Week, an inspiring series of conversations, panels, workshops, and virtual reality experiences designed to raise awareness, foster conversation, and inspire a sense of engagement and belonging across the company. Across 11 locations worldwide and at over 80 events, members of the Viacom Board of Directors and leadership team participated - illustrating the company's top-level commitment to diversity - as did over 60 external experts and nearly 100 speakers. Topics ranged from institutionalized racism, to recognizing and overcoming obstacles at work, to the power of depicting diversity on screen, to the potential for entertainment content to change minds. We hosted Global Inclusion Week across the combined ViacomCBS in 2020 and look forward to sharing takeaways from it in our next ESG report.

"The power of this event was showing that you can't have diversity without inclusion," noted Marva Smalls, Global Head of Inclusion, ViacomCBS. "This certainly isn't one week and done; we're focused on diversity and inclusion every day. But this event provided a unique level of focus, conversation, and learning together that we hope provides some 'aha' moments and stretches everyone's thinking in ways that will help us do this work even better."

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EMPLOYEE DIVERSITY

An important part of our work to expand diversity and inclusion in our workforce is increasing data transparency. Here we report the diversity data for both legacy Viacom and CBS employees in calendar year 2019 and for the combined company as of July 31, 2020. Moving forward, we will continue to report combined diversity information for our employees.

of the 13 Directors that make up the ViacomCBS Board of Directors, three are part of a racial or ethnic minority group

ViacomCBS (as of July 31, 2020)

Global All Levels by Gender	Count	% of Total
Male	11,736	52.2%
Female	10,760	47.8%
Total	22,496	100.0%

U.S. All Levels by Gender	Count	% of Total
Male	8,497	51.1%
Female	8,115	48.9%
Total	16,612	100.0%

U.S. All Levels by Ethnicity	Count	% of Total
White	10,594	63.8%
Hispanic or Latino	1,927	11.6%
Black or African American	1,871	11.3%
Asian	1,718	10.3%
Two or More Races	416	2.5%
Native Hawaiian/Other Pacific	46	0.3%
Islander
American Indian	36	0.2%
or Alaska Native
Total	16,608	100.0%

Global VP+ by Gender	Count	% of Total
Male	1,258	52.2%
Female	1,151	47.8%
Total	2,409	100.0%

U.S. VP+ by Gender	Count	% of Total
Male	1,092	50.9%
Female	1,055	49.1%
Total	2,147	100.0%

U.S. VP+ by Ethnicity	Count	% of Total
White	1,612	75.1%
Hispanic or Latino	160	7.5%
Black or African American	160	7.5%
Asian	178	8.3%
Two or More Races	28	1.3%
Native Hawaiian/Other Pacific	5	0.2%
Islander
American Indian	4	0.2%
or Alaska Native
Total	2,147	100.0%

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Legacy Viacom only (as of December 31, 2019)

Gender - Global
(U.S. plus	Below	Below	VP and	VP and
International)	VP	VP %	Above	Above %	Total	Total %

Male	4,361	47.7%	765	50.8%	5,126	48.1%
Female	4,783	52.3%	742	49.2%	5,525	51.9%

	Below	Below	VP and	VP and
Gender - U.S. only	VP	VP %	Above	Above %	Total	Total %
Male	2,119	42.1%	607	48.0%	2,726	43.3%
Female	2,911	57.9%	658	52.0%	3,569	56.7%

	Below	Below	VP and	VP and
Ethnicity - U.S. only	VP	VP %	Above	Above %	Total	Total %
White	2,896	57.6%	912	72.1%	3,808	60.5%
Hispanic or Latino	729	14.5%	115	9.1%	844	13.4%
Black or African	665	13.2%	110	8.7%	775	12.3%
American
Asian	588	11.7%	106	8.4%	694	11.0%
Two or More Races	114	2.3%	18	1.4%	132	2.1%
Native Hawaiian	15	0.3%	3	0.2%	18	0.3%
or Other Pacific
Islander
Unknown	16	0.3%	0	0.0%	16	0.3%
American Indian or	7	0.1%	1	0.1%	8	0.1%
Alaska Native

Legacy CBS only (as of November 30, 2019)

Gender - Global	All levels	All levels %	VP+	VP+ %

Male	7,247	55.6%	628	56.1%
Female	5,795	44.4%	491	43.9%

Gender - U.S. only	All levels	All levels %	VP+	VP+ %

Male	6,300	55.9%	609	56.2%
Female	4,968	44.1%	475	43.8%

Ethnicity - U.S. only		All Levels		VP+

White	7,479	66.4%	880	81.2%
Asian	1,046	9.3%	79	7.3%
Hispanic/Latino	1,192	10.6%	56	5.2%
Black/African	1,191	10.6%	48	4.4%
American
American Indian or	28	0.2%	3	0.3%
Alaskan Native
Native Hawaiian/	29	0.3%	2	0.2%
Other Pacific Islander
Two or More Races	303	2.7%	16	1.5%

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PREVENTING HARASSMENT AND DISCRIMINATION

GRI: 406-1

The global #MeToo movement and other awareness- raising efforts have shown how common - and unacceptable - harassment and discrimination

are in the workplace.

SustainableReporting

productionindices and operations

All employees participate in anti-sexual harassment training

This is especially relevant to our industry. We are committed to fixing these issues and joining our peers in changing our industry for good. As we develop a strong culture for our combined company, we are redoubling our commitment to preventing harassment and discrimination. To do so, we are expanding and strengthening governance, accountability, programs, and training.

POLICIES AND PROGRAMS TO BUILD A RESPECTFUL WORKPLACE CULTURE

At ViacomCBS, we have enacted strong policies to prevent harassment, discrimination, or any other behavior that creates a hostile workplace. We detail them in our Global Business Practices Statement.

No one should ever be subjected to harassment (sexual or otherwise) in any work-related setting. It is our policy that every employee be treated with dignity and respect, regardless of their race, color, ethnicity, national origin, religion, creed, sex, sexual orientation, gender, gender identity, gender expression, age, marital status, disability, veteran status, citizenship status, or any other personal characteristic protected by applicable law.

We also have policies to prevent bullying. Every employee has the right to feel safe with co-workers, including their managers, vendors, suppliers, clients, visitors, and independent contractors.

Each year, we make available to all of our employees, globally, training on sexual harassment, discrimination, and retaliation prevention to ensure that everyone at ViacomCBS understands what we consider to be appropriate behavior and is prepared to prevent and address any incidents of harassment. In addition, all workers on ViacomCBS productions, including freelancers and others not directly employed by ViacomCBS, receive sexual harassment training. This training exceeds legal requirements; while harassment training is required in California and New York, we have expanded it globally.

To help us combat discrimination, we look at trends in employee diversity data that could suggest discrimination or unconscious bias, like rates of promotion of women or non-white employees compared to men or white employees. When we identify areas of question, we conduct culture check meetings with members of the relevant department, share the data and feedback with leadership, and provide unconscious bias and other training.

We also require employees to report harassment, even if they are just a witness. Harassment could include verbal, physical, and visual conduct that creates an intimidating, abusive, offensive, or hostile working environment that interferes with work performance. We have a 24/7/365 anonymous complaint and reporting hotline, called OPENLINE, which is

managed by a third party to help ensure anonymity and fair treatment of people who report concerns.

All reported incidents of discrimination and harassment are investigated by the centralized Employee Relations Investigations group or, in certain cases, by members of the Human Resources, Employment Law, or Compliance teams. We bring in third-party investigators for some complaints, such as those for which there may be concerns of objectivity or for which we lack in-house bandwidth. We share all complaints we receive through the OPENLINE anonymous hotline with the Audit Committee of the Board

of Directors.

Our production operations have unique risks for potential discrimination and harassment. This stems in part from the high number of third-party, or contract, workers, about whom we have less background knowledge and over whom we have less control or ability to provide training and share cultural requirements. This is common across our industry. In addition, casting for our productions is a process that has a higher potential for discriminatory decisions based on the desire to find candidates who fit a certain look or idea of the character

to be portrayed. To address these and other production-related risks, a ViacomCBS human resources representative is assigned to each production to oversee and advise on employee issues.

ViacomCBS ESG Report 2019

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EMPLOYEE ATTRACTION, RETENTION, AND TRAINING

GRI: 401-1,401-2,404-1,404-2

Our employees make our company great. We provide a range of training, mentoring, and career mobility programs to attract, retain, and engage our employees. We also see a strong culture of diversity and inclusion as critical to ensuring that the best people find a home at our company and bring their whole selves to work.

HELPING EMPLOYEES ADVANCE WITH TRAINING AND MENTORING

GRI: 404-3

We empower our employees to grow professionally by providing training, mentoring, executive coaching, and leadership development opportunities. We also provide tuition support for employees. Through formal, six-month mentoring programs and "pop up" mentoring for employees at all levels, we help employees learn from colleagues, break down silos, and encourage just-in-time learning.

Developing effective leaders We seek to develop leaders who strengthen our culture as well as our business success. We offer leadership-specifictraining for higher- level employees who are new to their position, are taking on expanded scope of responsibilities, or otherwise seeking to expand their impact. These programs focus on providing 360-degreefeedback and helping managers inspire a positive, inclusive culture; leverage the power and strengths of diverse perspectives and creative thinking; increase emotional intelligence; lead through change and uncertainty; and improve their ability to provide feedback and coaching skills.

Increasing internal mobility

We know providing genuine advancement opportunities increases engagement and retention. To promote internal mobility, we actively seek internal candidates in our hiring processes. In 2019, 13% of hires at legacy Viacom were internal candidates. We are working to improve this rate moving forward.

Providing fair benefits and compensation

ViacomCBS offers a range of financial and nonfinancial compensation and benefits. Employee benefits include health, life, and disability insurance; matching retirement contributions; flexible paid time off; and paid volunteer time. We also seek to be a family-friendly workplace. We offer flexible work hours for full- and part-time employees.

Rolling out expanded leave benefits In 2020, we announced new parental, caregiving, bereavement, and military leave benefits to ViacomCBS employees.

Parental leave: Full-timestaff employees are eligible for 12 weeks of paid parental leave - a gender- neutral policy to which employees are entitled regardless of how their new child enters the family, whether by birth, adoption, or foster.

Caregiving leave: Full-timestaff employees are eligible for up to six weeks of paid leave to care for a family member with a serious health condition.
Bereavement leave: Full-timestaff employees have up to 10 days of paid bereavement leave following the death of a family member.
Expectant parents who suffer a pregnancy loss also qualify for this policy when disability benefits do not apply.
Military leave: Employees who qualify for leave under the Uniformed
Services Employment and Reemployment Rights Act of
1994 have access to up to six months of differential pay while employed at
ViacomCBS.

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504

employees received a total of $1.5M in tuition reimbursements in 20196

IMAGE: CBS Diversity & Inclusion Initiatives

1,800+

unique learners participated in lone training in 20196

VIACOMMUNITY DAY

Every year, legacy Viacom has held Viacommunity Day, a global day of service focusing on causes and issues that matter to our employees and our audiences. In its 23rd year in 2019, over 6,000 legacy Viacom employees engaged with over

non-profitorganizations in over

countries.

Beyond this special day, we work to have a positive social impact through community programs, volunteering and philanthropy, that also helps build our culture and engage our employees.

In June 2020, we held our first Community Day as a combined company. We are excited to share results and stories from this virtual event in our next ESG Report.

IMAGE: CBS Diversity & Inclusion Initiatives

3,430

total hours of online learning in 20194

SPARKING ENGAGEMENT

Spark is a company-wide,multi-day engagement and brainstorming event that provides opportunities for our employees to interact and engage with each other. "We wanted to create an event that had universal themes and takeaways, but at the same time was executed locally, so people really got to participate in understanding our strategy and our vision, and their important role within the company," explains Julia Phelps, EVP, Chief Communications and Corporate Marketing Officer, ViacomCBS.

Spark featured hundreds of internal and external events and interactive experiences on a local level, and also incorporated globally relevant, company-wide themes and content. Over 4,600 employees registered for Spark to attend, for example, panels of division leaders that helped employees better understand our businesses or brainstorming workshops that brought together people to solve problems that they wouldn't work on in a regular day at the office.

4 Viacom data

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HEALTH, SAFETY, AND SECURITY

GRI: 403-1,403-2,403-3,403-5,403-6

Our employees, especially those producing content, face a range of potential on-the-job hazards. For example, constructing sets - something we do multiple times for every production - presents all the risks associated with a construction site, including the use of heavy machinery, working with electricity and hazardous materials, and working at heights.

SustainableReporting

productionindices and operations

189

recordable OSHA cases in 20196

Working on set can also involve potentially dangerous elements like pyrotechnics, stunts, and special effects; noise exposure; and working in potentially dangerous locations. Staff also face safety and security risks associated with live events and working with celebrities.

We take a proactive approach to identifying and mitigating health, safety, and security risks to avoid incidents before they happen. We are actively involved with the administration of the Contract Services Administration Trust Fund (CSATF) to develop safety bulletins, guidelines, and fact sheets to which we adhere as well as mandatory safety, harassment prevention, and skills training courses for most affiliated employees. We also require our business partners, vendors, and suppliers to have rigorous safety and security processes in place, and track this in places like the Paramount Lot.

work-related fatalities in 20195

PROTECTING WORKER

SAFETY AND HEALTH

GRI: 403-7,403-9

ViacomCBS safety professionals perform risk assessments of daily work processes across our productions, offices, and other work sites, and develop hazard reduction, avoidance, and mitigation plans. They also develop policies based on the findings of these assessments. And, we require job- and event-specific safety training for relevant employees.

We track and report safety, health, and security incident data across the company. Incident reports are submitted to our internal risk management team, which identifies trends, assesses root causes, and implements process changes and training as relevant.

As an example of the steps we take to address safety concerns in our industry, in 2019, a third-party company we hired to shoot footage in support of one of our productions improperly shipped lithium- ion batteries as air freight. As a result, we have implemented a multi-tiered training program for production staff who handle batteries. And, we have increased our already careful monitoring of shipping practices for all hazardous materials.

We have particularly stringent safety and health processes to address the hazards that occur on production sites.

Production risk teams undertake show-specific risk assessments and develop tailored risk protocols based on details of the production type and location. Safety personnel are present on-site during high-risk production tasks such as set construction and tear-down. We also have security personnel present during certain field news productions to provide real-time security guidance.

Across our operations, we undertake occupational health and ergonomics risk assessments to understand and then avoid or mitigate potential work- related health issues. We require casting and pre-production health screenings to help identify and address any health issues that may become relevant during unscripted productions. We also have on-site health care at some office and production sites, as well as medics and medical support at many production sites. This is a particular benefit for production- based employees who often lack routine medical care due to the demanding and unpredictable nature of production schedules. Our production-site health clinics are staffed with registered nurses to give on- and off-screen workers access to flu shots, health screenings, and other preventive and non-emergency health services.

5 Viacom data

6 Viacom data; cases primarily due to on-set production work

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SECURITY AND

EMERGENCY RESPONSE

Our Global Security Operations Center oversees security and emergency response efforts. Our team undertakes nearly 24-7 risk scans to identify potential security risks. We maintain a real-time dashboard of the location of ViacomCBS team members and assets, then map the information against global security risks like crime, terrorism, police activity, protests, strikes, traffic, severe weather, and other emergencies. This continuous risk assessment includes scanning social media and other sources for potential threats to employees, talent, and events. We then develop real-time response and mitigation plans and communicate risks as needed.

Our Security group also assesses and communicates location-specific and travel risks. We also support a mobile app for employees who are travelling to provide them with security updates, maintain communication, and offer assistance.

To prepare for emergency situations, we perform business-unit level assessments of key processes and equipment needed to keep business running in the event of catastrophic events. We undertake regular crisis scenario planning and drills for potential emergencies to help ensure our plans will be effective and properly implemented. We also develop systems for communicating with employees in emergency situations.

In 2020, we developed a global dashboard to track employee COVID-19 cases and travel restrictions to help keep our employees informed and safe.

IMAGES: Paramount GSOC

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LABOR RELATIONS

GRI: 102-41,402-1,407-1,409-1

We comply with employment laws everywhere we operate.

ViacomCBS works with a wide range of industry unions including the Screen Actors Guild-American Federation of Television and Radio Artists (SAG- AFTRA), the Writers Guild of America (WGA), the Directors Guild of America (DGA), International Alliance of Theatrical Stage Employees (IATSE), the International Brotherhood of Teamsters, Basic Crafts (including the International Brotherhood of Electrical Workers), the Communications Workers of America (CWA) as well as unions in other jurisdictions outside the United States. We also work with unions through the Alliance of Motion Picture and Television Producers (AMPTP), a multi-employer trade association that, along with and on behalf of hundreds of member companies including Paramount Pictures Corporation and CBS Studios, negotiates industry-wide collective bargaining agreements with a number of industry unions. The AMPTP has recently negotiated successor agreements with SAG-AFTRA, WGA, and DGA.

A large percentage of our workers are covered by collective bargaining agreements. However, it is not possible to provide an accurate total of workers on our productions who are members of unions or operating under collective bargaining agreements because the make-up of our production and content-

related workforce changes daily based on production needs. A large percentage of our production staff, including writers for scripted programs, are union employees. They are central to the work we do every day.

EMPLOYING MINORS

GRI: 408-1

We only employ minors as on-screen talent, such as on our Nickelodeon programs. We comply with all applicable child labor laws and we follow strict regulations and protocols to protect child talent. This may include, but is not limited to, hiring studio teachers and welfare workers, verifying Coogan trust accounts, ensuring the presence of parents and guardians, and limiting the hours that minors work on set.

In addition to these regulatory requirements, we have a robust background check program for crew members who work around minors and we do annual training with client groups who work with minors. We require a parent or guardian be on set and within sight or sound of their child. And, our production risk team is always available to provide guidance if a minor will be working on a project.

IMAGES:

CBS, The Unicorn

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ACTION

SUSTAINABLE PRODUCTION AND OPERATIONS

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Every organization has physical impacts from its operations, and an opportunity to manage and improve that footprint. The tools we use to create and distribute content carry environmental and societal impacts that together make up our complex footprint.

Sustainable Production and Operations, one

of the three pillars of our Environmental, Social, and Governance (ESG) strategy, includes how we address the environmental and social impacts of our operations and facilities, film and television productions, broadcast and transmission, sourcing practices, publishing operations, and licensed consumer products.

The ViacomCBS merger provided opportunities to expand our global reach and lead the industry. It also added complexity to tracking and understanding our impacts across the combined company.

We are excited about the progress we have made so far, also recognizing that we have a long way to go. We're working hard to coordinate policies across the company and develop new goals and metrics, align our governance systems, and explore new initiatives to help us continue to move ahead.

IMAGES FROM PREVIOUS PAGE: (FROM LEFT TO RIGHT):

CBS, All Rise; CBS, Super Bowl LIII

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CLIMATE CHANGE

GRI: 201-2,305-5

OUR APPROACH

Climate change is undoubtedly one of the most urgent issues facing current and future generations. We recognize that it is caused by human activity, including the choices we make as individuals and businesses. We have an obligation to mitigate our impacts. While our own carbon footprint as a media company is relatively small compared to those of other industries, we must still reduce our greenhouse gas (GHG) emissions in line with the Paris Agreement. We also know we will increasingly need to adapt our operations to the changing environmental and social conditions of a warming world. We have an opportunity to uniquely amplify climate change mitigation and adaptation measures through the content we produce.

We conducted a materiality analysis in 2020. While climate change is not a discrete issue on our materiality matrix, it shows up in a constellation of issues, including: corporate governance, influence and advocacy on social and environmental issues, ESG governance, environmental impacts from our operations, supply chain responsibility, transparency and reporting, and public policy engagement. We are working toward

publishing a company-wide Climate Action Policy and exploring the use of science-based targets in our methodology.

REDUCING OUR IMPACT

Our direct climate impacts are the emissions from our operations and facilities, which consist of our leased and owned office buildings, transmitter towers, data centers, and our production studios, where both ViacomCBS and other production companies film content. We also generate a combination of direct and indirect emissions when filming on-location or in spaces that we do not directly own or lease. We further indirectly generate emissions through other business-related activities such as employee travel, the theatrical and home video release of content, and the

publication and distribution of our Simon & Schuster books and consumer products. Through a range of policies and initiatives - both formal and informal

we are working toward mitigating these emissions when possible and within our operational control.

COGENERATION PLANT HELPS KEEP THE PARAMOUNT LOT GREEN

The Paramount Lot is a hallmark of Hollywood history. From the earliest days of American film to today's boom in streaming content, the Lot has long been at the center of the entertainment industry. We are making investments to preserve the Lot for generations to come, including by upgrading our on- site energy infrastructure. We installed a cogeneration energy and central chilled water plant to dramatically reduce costs and emissions associated with cooling the large sound stages and other buildings on the Lot. The plant's network of chilled water uses about half of the energy required by standard air conditioning systems. As a result, we have cut our dependence on the local utility grid, which derives some of its energy from more pollutive coal plants, by over 18% since 2013.

Overall, the cogeneration plant, combined with energy reduction initiatives across the Lot, have reduced our GHG emissions by 42% since 2011, equivalent to avoiding over 177 million pounds of GHGs.

IMAGES (FROM LEFT TO RIGHT):

Paramount Cogen Plant, Paramount Energy

Efficiency Award, Better Buildings Challenge

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While we are still at the beginning of our sustainability journey, we're taking steps to reduce our environmental footprint. For example, many of our employees work in Leadership in Energy and Environmental Design (LEED®)-certified,energy-efficient offices, including in our headquarters building in New York City and in our office in London. Moving forward, we will build any new construction in the U.S. to LEED or equivalent standards. Energy efficiency initiatives and renewable energy installations helped us reduce our GHG emissions by

20% at legacy Viacom buildings in the U.S. from 2014 to 2018. Small changes add up, too: at our New York offices, for example, we source food for

our cafeterias locally to reduce transportation emissions.

Production is where our industry has a unique and significant environmental impact. We are working to reduce our on-set energy use, which is mainly driven by fuel use from production vehicles and generators, followed by stage utility use from heating and cooling, lighting, and other set infrastructure. Where possible, we also leverage renewable energy sources.

Additionally, primarily as a result of the former operations of two corporate predecessors, Westinghouse Electric Corp. and Gulf+Western Industries, Inc., we have certain liabilities relating to asbestos litigation and environmental sites. The asbestos claims largely relate to asbestos-containing products used by Westinghouse in connection with power generation equipment and electrical products that it manufactured prior to the 1970s. The environmental liabilities arise from former operations of both Westinghouse and Gulf+Western and relate to contaminants that were found at formerly owned and third-party sites. Although in some cases there are alleged environmental and health impacts associated with these liabilities, we do not believe there are any harmful emissions or climate effects due to these issues.

Moreover, while travel is an essential part of our business, we help our employees and production crews make more responsible transportation decisions. We provide bike storage rooms at some offices and encourage hybrid car rentals when shooting on location. We also track business travel data booked through the company's designated agencies for our employees where available, including crew on film productions.

For certain locations in the Los Angeles area, we are required by the South Coast Air Quality Management District -

the regional air pollution agency - to purchase renewable energy credits to offset vehicle emissions from employee commutes. We remain in compliance with this requirement and in 2019 purchased over 1,800 pounds in volatile organic compound (VOC) credits and 745 pounds of nitrogen oxide (NOx) credits.

TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES

Transparency into our climate-related risks and opportunities is an essential part of our ESG work at ViacomCBS, even if climate change itself is not a discrete material issue to our company. We are beginning to adopt the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and look forward to publishing a report according to the TCFD Recommended Disclosures.

In the meantime, we are working toward disclosing the actual and potential impacts of climate-related risks and opportunities in our businesses, strategy, and financial planning, where material. In particular, we are evaluating the impacts of climate change on our value chain, consumer products, and film and television operations, and will continue to report on these impacts in our annual CDP disclosures.

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ViacomCBS greenhouse gas emissions from employee travel, global

GRI: 305-1,305-2,305-3

Miles

Metric tons CO₂e

9,723,434		4,094
1,401,389	Did not report



257,039,056		90	Did not report
1,539,708
	50,255
	113
	234,800,836
		46,084

2019

2018

2019

2018

Car Rental

Rail

Air

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INFLUENCING CULTURE

AND CONVERSATIONS

GRI: 305-5

Media companies have a vital role to play in accurately representing and highlighting the urgency of our climate crisis. With an audience of more than

4.7 billion homes worldwide, we have a unique opportunity to influence conversations around this critical issue and reflect the concerns our audiences already share.

In a world increasingly filled with misinformation, we hope that reliable and trustworthy content - from news reporting to informative film and television series - can help raise awareness of the pressing need for climate change mitigation and adaptation.

For example, CBS News® covers the ongoing impacts of climate change around the world through both its regular reporting and dedicated series like Climate Watch, Eye on the Earth, and 60 Minutes. Through these series, our News team has reported on a range of issues including record heat waves in the Arctic, evolving climate protests around the world, and how climate change could impact future food supply.

Paramount's documentary series Take Action Films has also covered some aspects of the climate crisis by placing on-screen talent from the Yellowstone series in conversation with environmental activists and experts. The first two episodes of the 2019 series sent actor Ian Bohen to cover the drastic climate-driven changes happening at Yellowstone National Park, such as dramatically shifting seasons and more frequent and severe

fires, while actor Gil Birmingham spoke to indigenous activists about the threats posed to their sacred lands by the Keystone XL pipeline.

Climate change is a leading concern among younger audiences - a key demographic that our brands reach. The 2019 Viacom Power in Progress Survey found that climate change was the number one issue on the minds of 11,000 youth across 10 countries. Through MTV News and Nickelodeon, we are well placed to engage with the upcoming generation on the issues already shaping their future.

ViacomCBS greenhouse gas emissions (metric tons CO2e)

	2019	2018	2017	2016	2015*	2014*

Scope 1	38,240	31,737	26,834	24,672	9,045	8,297

Scope 2	144,268	229,073	219,851	216,737	50,828	39,252
(location‑based)
Scope 2	123,106	219,385	219,375	213,701	50,828	37,114
(market‑based)
Scope 3	819,682	37,891	39,356	47,190	33,242	28,499
Total (Scope 1 +	981,028	289,013	285,566	285,563	93,115	73,910
Scope 2 Market-
based + Scope 3)

Scope 1: Corporate fleet, news vans, natural gas, and fuel oil. In 2019, we included diesel and gasoline usage from legacy CBS productions.

Scope 2: Electricity and steam for all global sites, including estimates for locations without energy data. In 2019, we included legacy CBS production electricity usage in leased spaces.

Scope 3: Business travel. In 2019, we included car rentals in business travel, in addition to purchased and capital goods and upstream and downstream transportation.

*2014 and 2015 data is for legacy Viacom only

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PARAMOUNT

LOT EMISSIONS

33%

reduction in GHG emissions since

2011 as a result of energy conservation initiatives on the Paramount Lot

equivalent to 136,743,378 pounds of CO2, or 13,400 passenger vehicles driven for one year, 68,343,870 pounds of coal burned, or the energy used by 7,158 homes in one year

10%

reduction in GHG emissions since 2011 as a result of self-generation on the Paramount Lot

equivalent to 40,464,122 pounds of CO2, or 3,965 passenger vehicles driven for one year, 20,223,829 pounds of coal burned, or the energy used by 2,118 homes in one year

22%

reduction in power purchased from rom the Los Angeles Department of Water and Power (LADWP) since we installed the microturbines in 2013

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SUSTAINABLE

PRODUCTION

Creating the rich worlds on all screens and at events is a resource-intensive process.

Our teams build sets from scratch; talent and crews fly in; and we use electricity, fuel, and other resources to light scenes and move people and props around sets. While every production has different needs and creates different kinds of impacts - a fact that creates its own set of challenges and opportunities in our ESG work - producing our content in an environmentally responsible way is important to us.

Sustainable production is material to our business and it is one area in which we are trying to lead. We are addressing the environmental challenges inherent to content production in several ways, in line with an evolving industry approach.

WORKING TOWARD MORE SUSTAINABLE PRODUCTIONS

Implementing the Green Production Guide: We are working to adopt the Green Production Guide (GPG) across our brands. The GPG is a voluntary best practices handbook that the Sustainable Production Alliance created in partnership with the Producers Guild of America to guide environmentally sustainable filming. ViacomCBS is an active and founding member of the Sustainable Production Alliance, a consortium of Hollywood's largest content producers dedicated to advancing sustainability in film and television. The GPG provides production staff with a comprehensive list of guidelines - from using bicycle couriers and rechargeable batteries to providing reusable containers for drinking water - to reduce the GHG emissions generated, fuel used, and waste created on set.

It is difficult to ensure each production adopts the GPG during a hectic production schedule. We are still at the beginning of our process to make this responsibility and expectation clear and provide the expert resources production crews need to track production impacts in an accurate and meaningful way. For GPG productions, we ensure there is an expert on set dedicated to managing and tracking GPG best practices. Despite the extra effort required for green production, the

number of our shows, features, and sports broadcasts following these guidelines has steadily increased over the last few years. In 2019, 20 productions across Viacom, CBS, and Paramount implemented the GPG, up from 13 in 2018 and four in 2017.

Reusing set materials: Built sets constitute our greatest waste stream from production. Before purchasing materials for sets, we encourage new productions to try to source from a warehouse of set materials from past television shows, events, and films when feasible. When reuse isn't possible, we source 100% Forest Stewardship Council- certified plywood for many shows.

Converting to digital "paperwork": While most of our scripts and call sheets are already distributed in digital form, we still use a significant amount of paper for our productions through accounting, payroll, and forms. We want to convert as much paperwork as possible to digital form and are making progress. Figuring out how to return to work safely amidst the COVID-19crisis of 2020 has accelerated this work.

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Donation of meals and assets: Our productions always prioritize the donation of excess food and set materials. The Paramount Lot has implemented a food recovery program accessible to any production filming or event hosted on-site.Food donations are made by production catering through a non-profitpartner that routes meals to food banks in need. Asset donations are typically set furniture, props, and construction materials that are given to our partners at Habitat for Humanity, The Salvation Army, Materials for the Arts, and Goodwill. Our productions quickly mobilized to donate medical personal protective equipment and supplies to local hospitals during the COVID-19crisis.

Greening production trailers:

The energy needed to move and power cast and crew trailers on filming locations adds carbon emissions to every production. We are exploring ways to reduce the environmental impacts of set trailers, like using plug-in power instead of generators when possible; switching to shared, two-room trailers; and using solar- powered trailers.

Ensuring animal welfare: When animals are involved in filming, we follow industry-standardpractices such as the animal handling safety bulletins from Contract Services, an industry working group that develops a wide range of safety protocols for production operations. When necessary, we also work with representatives from the American Humane Association who work

on set to certify animal welfare.

In 2019, ViacomCBS productions donated:

Over 33,500

meals and an estimated value of $245,000 in assets and materials

In 2019, ViacomCBS productions:

were nominated for 1 Environmental Media Association (EMA) Award

received 5 EMA Green Seals for environmental performance on-set

received 7 EMA Gold Seals for exceptional environmental performance on-set

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ENVIRONMENTAL IMPACTS OF OUR OPERATIONS AND FACILITIES

GRI: 303-5

Media production and distribution is innately less resource intensive than industries like mineral extraction or agriculture. Nevertheless, we have offices in cities around the world and audiences in over 180 countries. The expansiveness of our footprint means our use of resources is material.

SustainableReporting

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HOW WE DEFINE "OPERATIONS AND FACILITIES"

Our operations and facilities consist of our leased and owned office space, production studios, data centers, warehouses, and news bureaus across the globe. Some

Our facilities' impacts mainly consist of the water and energy used and waste generated at our leased and owned office buildings, production studios, transmitters, and data centers. Altogether, we lease or own approximately 21 million square feet of real estate and, as of December 31, 2019, directly employ more than 20,000 people globally across ViacomCBS.

2019 Scope 1 & 2 Emissions by Facility Type

We are also working to capture the full picture of indirect operational impacts, like business travel-related emissions, and choose green-oriented suppliers to improve our environmental footprint wherever possible.

Data Center	Office
Transmission site	TV station
	Studio

of our largest properties include:

■ 1515 Broadway Headquarters,

New York, NY - 1.4M square feet

of leased office and studio space

■ The Studios at Paramount, Los

Angeles, CA - 62 acres of land

with 1.9M square feet of sound

stages, production facilities,

and offices

■ CBS Broadcast Center, New York,

NY - 860,000 square feet of

office and studio space

■ Black Rock, CBS's New York

Scope 1 + 2 (Location-Based)		Scope 1 + 2 (Market-Based)

Total: 182,508 MTCO2e		Total: 161,346 MTCO2e
7,822 MTCO2e
		7,822 MTCO2e

27,162 MTCO2e


		25,073 MTCO2e
35,575 MTCO2e

		32,191 MTCO2e
36,854 MTCO2e
	32,298 MTCO2e

75,094 MTCO2e
	63,962 MTCO2e

Headquarters, New York, NY -

900,000 square feet

■ CBS Studio Center, Studio City,

CA - 607,000 square feet and

46 acres of land

■ Simon & Schuster Distribution

Center, Riverside, New Jersey

- 800,000 square feet

■ Telefe Studio, Buenos Aires,

Argentina - 400,000 square feet

■ Nickelodeon's Live Action Studio,

Burbank, CA - over 100,000 square

feet of stage and office space

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GREENING OUR OFFICE AND FACILITIES OPERATIONS

GRI: 302-4,306-1,306-2

Implementing green building standards: Our 1.4 million square- foot New York City headquarters achieved LEED Gold Certification in 2017. We require all new construction to conform with the framework's standards, which emphasize using natural light, repurposing existing materials, and installing high-efficiencyequipment to decrease overall energy use and create a healthy and productive space in which our employees work.

Installing energy-efficient technologies: Across our real estate holdings, we are continually working to decrease our energy use through seemingly small, but effective, changes. For example, we have implemented motion-detectorlighting and temperature sensors in many buildings, and we replace conventional light bulbs with more efficient LED bulbs whenever we perform renovations. In 2019, we replaced all lighting on the edit room floor of our headquarters with LEDs. We are also developing a comprehensive renewable energy policy to further embed a commitment to energy-efficienttechnology in our real estate decisions.

Using lower-carbon and renewable energy sources: In 2019, we procured over 40,000 megawatt hours (MWh) of renewable energy through a combination of 100% renewable utility tariffs, community choice aggregation, and green energy products we contracted through our electricity suppliers. Our renewable energy purchases at two international and 14 domestic locations are all wind or solar products with Green-e®certified renewable energy credits.

We are committed to strengthening green tariff markets by creating demand for renewable energy products and prioritize on-site installations whenever feasible. We have a 1.2 megawatt fuel cell and 575 kilowatt on-site solar installation at CBS Studio Center in California, which provide electricity and cooling for the site, although we do not retain the environmental attributes. In 2020, we brought online a two-megawatton-site

solar installation at our Simon & Schuster distribution facility in New Jersey. Renewable and low-carbon energy purchases helped us decrease our Scope 2 emissions by 15% in 2019, and we're working to add more sites to our renewable energy portfolio in the near future. The CBS Broadcast Center and Black Rock facilities in New York City participate in the ReCharge NY program, which sources power from the Niagara Falls hydroelectric facility.

Reducing e-waste: Electronic waste, or "e-waste," is the primary waste-related impact of our operations. Most of our e-waste comes from our television stations and data center operations and includes hardware, lightbulbs, and batteries, among other items. We also occasionally dispose of tapes and DVDs used during the post-production process. Across the U.S., we recycle 100% of our e-waste, working with multiple e-waste vendors to dispose of or recycle these items and provide occasional pick-up points for employees' personal e-waste as well.

Managing hazardous waste responsibly: We also generate some waste that is considered hazardous, most of which is paints, solvents, and metals we use on the sets of productions. We make hazardous waste collection programs available at all of our U.S. locations and we comply with state and federal regulations for its safe and responsible disposal.

Reducing and recycling: In 2018, Viacom banned single-useplastic water bottles, packaging, bags, and straws from our employee cafes and cafeterias in our U.S. facilities, following many of our international sites that had already done so. In turn, we have tried to provide our employees with more sustainable alternatives like reusable water bottles and paper or metal straws. Whenever possible, we also try to work with vendors to reduce or avoid plastic packaging on promotional items. We also expanded a centralized trash and recycling program, originally started in our New York City headquarters building, to other facilities around the country.

Requiring green cleaning: We require facilities managers and our vendor partners to use Green Seal-approvedcleaning products to help us maintain greener, healthier workspaces.

Carbon goal achieved

In 2018, at our headquarters at 1515 Broadway in New York City, we met our goal to reduce carbon use by 30%, compared to its 2011 level

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ViacomCBS annual energy use* by type

GRI: 302-1

	2019	2018	2017	2016	2015**

Electricity (MWh)	417,356	550,085	595,957	549,176	36,888
Renewable Electricity (MWh)	40,325	11,237	4,726	10,026	0

Natural gas (MWh)	104,138	127,371	123,115	111,944	43,557

Steam (MWh)	29,590	56,192	58,901	50,286	66

Diesel (gallons)***	1,060,511

All energy, water and waste data is for ViacomCBS' domestic operations only. We plan to release data on our global operations in our 2020 report.

2015 data is for legacy Viacom only.
In 2019, we included diesel data for legacy Viacom domestic fleet vehicles and legacy CBS fleet vehicles and productions.

40,325 MWh

Renewable energy use (10% of global energy use)

IMAGE: CBS, Magnum PI

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SUPPLY CHAIN

RESPONSIBILITY

GRI: 102-9,102-10

ViacomCBS doesn't have a traditional supply chain focused on buying parts or products like consumer packaged goods or manufacturing companies do.

We produce content, and our main "supply" input is people: the employees and talent who develop, produce, and star in our shows. Labor costs are a significant source of our spending; we are focused on socially responsible procurement practices. Fostering diversity is one principle of our supply chain approach. We also work to enhance transparency, build a sustainable and equitable supply chain, and mitigate our environmental and social impacts.

This section of our ESG report specifically covers services and products we procure for ViacomCBS productions, operations, and facilities. For information on licensed consumer products, which have their own supply chains and environmental and social considerations, please see page 66.

SOURCING AND PROCUREMENT

GRI: 409-1

We procure services in a few main categories, including technology, production and events, post-production and content services, marketing and research, corporate facilities and professional services. We purchase and rent items like computers and cleaning supplies for our corporate offices, trailers and equipment for our production studios, and advertising and promotional items for our marketing campaigns. Our Chief Sourcing Officer oversees all sourcing and manages our six different sourcing "towers," each responsible for different categories of procurement spend.

We have purchasing guidelines across all levels of procurement

and have specific environmental and social responsibility criteria which we are implementing on spending over certain financial thresholds.

We account for our procurement across six regions - North America, Europe, Australia and New Zealand, South America, Asia, and the Middle East and Africa. As a combined company, the bulk of spending takes place in the U.S., where we produce most of our content and have our largest corporate office facilities.

EXPECTATIONS

FOR OUR SUPPLIERS

GRI: 308-1,308-2,414-1,414-2

We are taking steps to ensure our suppliers are aligned with our ESG values, which we are still working to finalize as a newly merged company. For example, as part of our request for proposals (RFP) process, we have included questions on suppliers' environmental performance. Prior to the merger, legacy Viacom surveyed around 10% of our suppliers on their behavior on climate-related issues. And in 2018, legacy CBS evaluated over 100 suppliers, representing over $260 million in spending, through an ESG questionnaire.

TheViacomCBS Supplier Compliance Policyoutlines our expectations of our suppliers on ethics and compliance. We expect suppliers to maintain strict compliance with all laws and regulations in the places where they do business and to maintain the highest ethical

MAPPING OUR BIGGEST IMPACTS We are outlining our environmental and social criteria for our suppliers based on where we can have the biggest impact. To do so, we're reviewing our top 100 vendors by spend, many of which provide services, rather than products, to us.

Our top six categories by spend are non-negotiable spend, technology, marketing and research, production goods and services, corporate services, and facilities and construction. By understanding where we spend the most money, we can build into our strategic plans a course of action for addressing our biggest impacts through our sourcing and procurement practices.

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standards. We also expect them to be familiar with the ViacomCBS Global Business Practices Statement.The policy expressly prohibits inappropriate conduct including bribery and corruption, anti-competitive business practices, and physical and sexual harassment.

Though most of our supplier spend is in areas with minimal risk of exploitative practices, we take a zero-tolerance approach to the use of forced labor. In response to the UK Modern Slavery Act, passed in 2015, we use third-party tools to conduct a periodic review of forced labor risk in our supplier pool, and we train our procurement team to be aware of any such risks. Our finance and operations teams in the UK lead this work. We immediately investigate any reports or allegations of forced labor, including prison labor, in our supply chain.

We are actively engaged with our suppliers to increase transparency into our Scope 3 emissions. For 2019, we have extended the boundary from our travel emissions to include: purchased goods, capital goods, upstream transportation, and downstream transportation. For purchased and capital goods, we followed the GHG Protocol by estimating emissions using industry average GHG intensities by sector and spend data. For upstream and downstream transportation, we worked directly with our logistics suppliers to estimate emissions from the movement of our Simon & Schuster books, Paramount Features theatrical and home video distribution, and branded consumer products utilizing freight carriers.

SUPPLIER DIVERSITY

GRI: 204-1

Our Supplier Diversity Program aims to ensure that our supply chain reflects the demographics of our employees, customers, and consumers. The goals of the program are to identify, develop, and source products and services from diverse and traditionally under- represented suppliers. Our ultimate goal is to increase our positive economic impact in diverse communities by proactively finding and engaging under-represented suppliers. We also work to strengthen and expand existing relationships to create a diverse supplier base that drives cost savings, innovation, and improved quality.

We engage with traditionally under- represented groups, as defined by these widely accepted categories:

Minority Owned (MBE)
Women Owned (WBE)
Lesbian, Gay, Bisexual, and/or Transgender Owned (LGBTBE)
Disability Owned (DOBE)
Veteran Owned (VBE), and/or
Business Enterprises with Diverse Small Business designations

Diverse suppliers can self-certify through the ViacomCBS process or provide a recognized third-party certification. Our Supplier Diversity and Global Sourcing teams work with internal stakeholders to make sure diverse and under- represented suppliers have an opportunity to compete for contracts. Importantly, our Global Inclusion Advisory Council advises on strategic direction and reviews supplier diversity reports on an ongoing basis.

This work doesn't happen in a vacuum. We partner with national-,state-, and local-level organizations like the National Minority Supplier Development Council (NMSDC), the Women's Business Enterprise National Council (WBENC), Disability:IN, and the National LGBT Chamber of Commerce (NGLCC).

Spend by category

VBE 0.4%

DOBE 2.0%

LGBTBE 9.0%

WBE 30.0%

MBE 59.0%

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To look at the impacts we have deeper into our supply chains, we also focus on Tier II suppliers, which provide goods and services to our direct, Tier I suppliers. We encourage Tier II suppliers from under- represented groups to become certified as diverse suppliers and have begun to include language around Tier II diversity in our contracts with direct Tier I suppliers.

In 2019, we set an interim goal for legacy Viacom of 7% controllable spend (or, costs we can directly manage) from diverse suppliers. We exceeded this goal by year's end, reaching 8.1%. In 2020, ViacomCBS is reassessing the annual goal as a result of the merger.

INFLUENCING PURCHASING BEHAVIORS

Our ESG Sourcing Program aims to leverage our purchasing power to reduce our environmental impact while increasing social impact. ESG Sourcing and Supplier Diversity often go hand-in- hand to double the impact of each dollar we spend. We have numerous sourcing initiatives focused on directing our spending towards green products and services to reduce the carbon footprint of our operations.

"1, 2, 3, GREEN" is an annual campaign from CBS for employees to adopt three easy steps to green their office. Each step is developed through a supplier partnership to increase usage of green products through internal events, competitions, and other opportunities for employees to learn more about sustainability. Business-unit leads have visibility into their progress on this initiative in a bi-annual green metric report that also provides an internal benchmark to see how they compare. In 2019, this program avoided 350 metric tons of carbon from our Scope 3 emissions.

Select ground shipping:
As part of our global operations and production, we often ship materials between offices to move documents, equipment, or supplies. To mitigate the environmental impacts, we encourage the use of ground shipping, rather than air shipping, since the latter can be at least eight times more carbon intensive.
Buy recycled content paper:
We recommend a minimum of 30% recycled content in copy paper and other paper products, as it reduces the environmental footprint of the paper we use. At the end of 2019, all legacy CBS requests for conventional copy paper were automatically substituted with 30% recycled content paper through our office supplies portal.
Sign documents digitally:
Electronic signatures are the best way to both eliminate the shipping of documents and the use of paper. In
2019, e-Sign software licenses were made available to all employees at no cost to their department. We are using these tools even more with the shift to remote work at the start of the COVID-19 crisis (see page 12 for more on our response to COVID-19).

94%

of Simon & Schuster books shipped direct- to-consumer used ground instead of air to reduce Scope 3 carbon emissions

Reducing travel emissions: For 2019, we included car rental data in our travel emissions for the first year in order to capture and reduce Scope 3 emissions by increasing hybrid and electric vehicle rentals. Our corporate employees and production crews drove 452,000 miles in hybrid and electric vehicles in 2019 (5% of total miles driven). CBS Sports was a large driver of this initiative with hybrid and electric rentals corresponding to 8% of total miles driven. For 2020, CBS Sports has made hybrid vehicles the default requested car type for crew reservations.

Progress since 2017*:

31-50%

Ground shipping (excluding Simon & Schuster)

15-58%

Recycled content paper

+700%

Electronic signature usage

*This data is for legacy CBS

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CONSUMER

PRODUCTS

GRI: 416-1,416-2,417-1

The content we create at ViacomCBS brings joy, excitement, and information to viewers around the world.

We extend that connection from the screen into the real world by licensing our intellectual property (our brands, characters, other elements from our shows, films, and other content) for consumer products, experiences, and events, and other consumer-facing engagements. Currently, we maintain over 2,500 active license agreements for the production of tens of millions of products including toys, apparel, consumer packaged goods, and beyond.

ESG is central to our approach to innovating in our Consumer Products business. There is a significant opportunity to make progress in this space, and we are working quickly to capitalize upon it. We are working toward making progress on setting and expanding our environmental and social sustainability standards, both internally and for our partners.

While we do not manufacture consumer products, their manufacturing and distribution are material to our ESG strategy. Managing those impacts by taking action to require licensees to adhere to best practices regarding sustainability across their manufacturing and distribution is a tenet of our

ESG strategy.

We are currently in the process of reviewing the standards we set for our consumer products licensee partners. Moving forward, it is our intention to engage third-party sustainability experts to establish guidelines around the environmental and social impacts of products that include our IP. We understand that many of our major retail partners are also looking to increase their focus on sustainability measures and look forward to identifying opportunities to collectively support these initiatives across the industry.

MANAGING RISKS AND

OPPORTUNITIES

GRI: 308-2,408-1,414-2

While licensed products are not our sole revenue driver as a company, the opportunity we have to use our voice as a company to require heightened supplier and manufacturing standards of our licensees - is of paramount importance.

Some of our brands, particularly Nickelodeon, present sustainability messaging opportunities for children through characters like SpongeBob SquarePants or Rocky, the recycling enthusiast from PAW Patrol. We have a responsibility to back up that messaging with real action.

SUPPORTING THE ETHICAL TOY PROGRAM AND FACTORY WORKERS

The International Council of Toy Industries (ICTI) Ethical Toy Program is using a certification process to bring more transparency and sustainability into the toy manufacturing industry. Certified factories are audited to ensure they meet important criteria like fair wages and employment practices, protection from discrimination, and safe and healthy working conditions.

ViacomCBS is a participating brand member. Our goal is to begin to use the Ethical Toy Program's certification program to help licensees identify factories with elevated social and environmental standards. We are also proud to support some of the organization's other programs, like the Family Friendly Spaces initiative in China. Many Chinese factory employees are migrant workers who travel thousands of miles away from their families. In 2019, the Ethical Toy Program partnered with 30 factories to build on-site childcare centers, allowing many workers to be reunited with their young children.

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SustainableReporting

productionindices and operations

There are labor impacts along our licensees' supply chains. All licenses require our licensees to comply with our Licensee/Supplier Compliance Policy, which includes strict requirements regarding labor standards. These standards are designed to protect basic worker rights like collective bargaining, health and safety guidelines, and freedom from forced and child labor.

There are also health and safety impacts along our licensees' supply chains. While we don't interact directly with our licensees' factories or manufacturing facilities, we require our licensees to submit signed agreements from their manufacturers acknowledging their obligations regarding compliance with applicable law, and we reserve the right to audit any facilities that make our licensed products. We proudly license our brands to manufacturers of children's toys and food products (among other products) and require our licensees to abide by all applicable laws and product safety/ testing requirements.

There are environmental impacts along our licensees' supply chains. The manufacturing process uses water and energy and generates waste, and the distribution of raw materials and finished goods produces GHG emissions. There is also a lot of paper and plastic material - much of which is or can be pre- and post-consumer recycled content - in the packaging of our products.

We are in the very early stages of exploring long-term sustainability goals for licensed products, including encouraging licensees to reduce single-use or virgin material inputs, like plastic, in their packaging.

100%

of suppliers assessed using code of conduct

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ACTION

REPORTING

INDICES

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GLOBAL REPORTING INITIATIVE INDEX

GRI: 102-55

The 2019 ViacomCBS ESG Report aligns with the GRI Standards framework set forth by the Global Reporting Initiative (GRI), an international framework for sustainability and ESG reporting.

The table below outlines the disclosures we have addressed in this report and where they are located in the document; we have also included tags identifying the location of indicator responses throughout this report. We prepared this report in accordance with the GRI Standards: Core option. We did not seek external assurance on this report.

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GRI CONTENT INDEX

GRI 101: Foundation 2016

General Disclosures

GRI 102: General Disclosures 2016

	Disclosures	Page number, URL, or direct answer	Omissions

Organizational Profile
102-1	Name of the organization	ViacomCBS (NASDAQ: VIAC)

102-2	Activities, brands, products, and services	Introduction: About ViacomCBS, page 9
102-3	Location of headquarters	New York, New York, USA
102-4	Location of operations	Introduction: About ViacomCBS, page 9
102-5	Ownership and legal form	Governance: Corporate governance, page 21

102-6	Markets served	Introduction: About ViacomCBS, page 9

102-7	Scale of the organization	Introduction: About ViacomCBS, page 9
102-8	Information on employees and other	Workforce and Culture, page 39
	workers
102-9	Description of the organization's supply	Sustainable Production and Operations: Supply
	chain	chain responsibility, page 63
102-10	Significant changes to the organization	Sustainable Production and Operations: Supply
	and its supply chain	chain responsibility, page 63
102-11	Precautionary Principle or approach	ViacomCBS does not have a policy regarding
		the precautionary principle or approach,
		but we abide by it in relation to the content
		we create and produce.
102-12	External initiatives	On-Screen Content and Social Impact: Using our
		content platforms for good, page 33; Expanding our
		social impact through community projects, page 35
102-13	Membership of associations	Governance: Public policy engagement, page 23
Strategy
102-14	Statement from senior decision-maker	Introduction: Bob Bakish, Results Through Action,
		page 4
102-15	Key impacts, risks, and opportunities	Introduction: Our material topics, page 11
		ViacomCBS 201910-K(Annual Report):
		Risk Factors, pages I-25 to I-38
Ethics and Integrity
102-16	Values, principles, standards, and norms	Introduction: About ViacomCBS, page 9
	of behavior	Governance: Compliance and ethical conduct,
		page 21

102-17 Mechanisms for advice and concerns about ethics

Governance: Compliance and ethical conduct, page 21

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GRI CONTENT INDEX (CONTINUED)

	Disclosures	Page number, URL, or direct answer	Omissions

Governance
102-18	Governance structure	Governance: ESG governance, page 19;
		Corporate governance, page 20
102-19	Delegating authority	Governance: ESG governance, page 19;
		Corporate governance, page 20
102-20	Executive-level responsibility for economic,	Governance: ESG governance, page 19
	environmental, and social topics	ViacomCBS 2020 14A (Proxy): Our Environmental,
		Social and Governance (ESG) Strategy, page 10
102-21	Consulting stakeholders on economic,	Introduction: About this report, page 10
	environmental, and social topics	Governance: ESG governance, page 19;
		Public policy engagement, page 23
102-22	Composition of the highest governance	Governance: Corporate governance, page 20
	body and its committees
102-23	Chair of the highest governance body	Governance: Corporate governance, page 20
102-24	Nominating and selecting the highest	ViacomCBS 2020 14A (Proxy): Corporate
	governance body	Governance, pages 8-9
102-25	Conflicts of interest	Governance: Compliance and ethical conduct,
		page 21
		ViacomCBS 2020 14A (Proxy): Corporate
		Governance - Business Conduct Statement, page 9
		ViacomCBS Global Business Practices Statement
102-26	Role of highest governance body in	Governance: ESG governance, page 19;
	setting purpose, values, and strategy	Corporate governance, page 20
102-27	Collective knowledge of highest	ViacomCBS 2020 14A (Proxy): Election of Directors,
	governance body	pages 24-30
102-28	Evaluating the highest governance	Governance: Executive leadership standards,
	body's performance	page 21

102-29 Identifying and managing economic, environmental, and social impacts

Governance: ESG governance, page 19ViacomCBS 2020 Materiality Assessment

ViacomCBS 2020 14A (Proxy): Our Environmental, Social and Governance (ESG) Strategy, page 10

102-30	Effectiveness of risk management	Governance: Risk management approach, page 21
	processes
102-31	Review of economic, environmental,	Introduction: Our approach to ESG, page 6
	and social topics	Governance: ESG governance, page 19
		ViacomCBS 2020 Materiality Assessment
102-32	Highest governance body's role in	Governance: ESG governance, page 19
	sustainability reporting
102-33	Communicating critical concerns	Governance: ESG governance, page 19
		ViacomCBS Global Business Practices Statement

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GRI CONTENT INDEX (CONTINUED)

	Disclosures	Page number, URL, or direct answer	Omissions

102-35	Remuneration policies	Governance: Executive leadership standards,
		page 21
		ViacomCBS 2020 14A (Proxy): Director
		Compensation, pages 31-33; Executive
		Compensations, pages 55-57
102-38	Annual total compensation ratio	ViacomCBS 2020 14A (Proxy): Executive
		Compensation - Pay Ratio, page 78

Stakeholder Engagement

102-40	List of stakeholder groups	Governance: ESG governance, page 19
102-41	Collective bargaining agreements	Workforce and Culture: Labor relations, page 50
102-42	Identifying and selecting stakeholders	Governance: ESG governance, page 19

102-43	Approach to stakeholder engagement	Governance: ESG governance, page 19

102-44	Key topics and concerns raised	We will continue to
		engage with key ESG

stakeholders and plan to identify the topics and concerns raised moving forward.

Reporting Practice

102-45	Entities included in the consolidated	Introduction: About ViacomCBS, page 9
	financial statements	ViacomCBS 201910-K(Annual Report):
		Business, pages I-2 to I-24
102-46	Defining report content and	Introduction: About this report, page 10;
	topic boundaries	Our material topics, page 11
		ViacomCBS 2020 Materiality Assessment
102-47	List of material topics	Introduction: Our material topics, page 11
		ViacomCBS 2020 Materiality Assessment
102-48	Restatements of information	This is the first ESG report for our combined
		company, ViacomCBS, and therefore we do not have
		any restatements of information.
102-49	Changes in reporting	This is the first ESG report for our combined
		company, ViacomCBS, as well as the first report
		for either legacy Viacom or legacy CBS. There is
		therefore no change in reporting.
102-50	Reporting period	Introduction: About this report, page 10

102-51	Date of most recent report	This is the first ESG report for our combined
		company, ViacomCBS.
102-52	Reporting cycle	We plan to publish an ESG report annually.

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GRI CONTENT INDEX (CONTINUED)

	Disclosures	Page number, URL, or direct answer	Omissions

102-53	Contact point for questions regarding	Jessica Thurston: Director, ESG Strategy and
	the report	Reporting, sustainability@viacbs.com
102-54	Claims of reporting in accordance	This report has been prepared in accordance
	with the GRI Standards	with the GRI Standards: Core option.
102-55	GRI content index	GRI Content Index, page 69

102-56	External assurance	We have not sought external assurance of the
		full ESG report or its data.

Material Disclosures

GRI 103: Management Approach 2016

103-1	Explanation of the material topic	Introduction: Our material topics, page 11
	and its Boundary
103-2	The management approach and its	Introduction: Our material topics, page 11
	components
103-3	Evaluation of the management approach	Introduction: Our material topics, page 11

Economic Performance

GRI 201: Economic Performance 2016

201-1	Direct economic value generated	Our 2019 revenue was $27,812 million.
	and distributed	ViacomCBS 201910-K(Annual Report):
		Selected Financial Data, page II-3
201-2	Financial implications and other risks	Sustainable Production and Operations:
	and opportunities for the organization's	Climate change, page 53
	activities due to climate change

Market Presence

GRI 202: Market Presence 2016

202-1	Ratios of standard entry level wage by	We do not yet disclose
	gender compared to local minimum wage	this information.
202-2	Proportion of senior management hired	We do not yet disclose
	from the local community	this information.

Indirect Economic Impacts

GRI 203: Indirect Economic Impacts 2016

203-2

Significant indirect economic impacts

Introduction: About ViacomCBS, page 9

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GRI CONTENT INDEX (CONTINUED)

	Disclosures	Page number, URL, or direct answer	Omissions

Procurement Practices
GRI 204: Procurement Practices 2016

204-1	Proportion of spending on local suppliers	Sustainable Production and Operations: Supply
		chain responsibility - Supplier diversity, page 64
Anti-Corruption
GRI 205: Anti-Corruption 2016

205-1	Operations assessed for risks related to	Governance: Compliance and ethical conduct,
	corruption	page 21
205-2	Communication and training about	Governance: Compliance and ethical conduct,
	anti-corruption policies and procedures	page 21

Anti-Competitive behavior

GRI 206: Anti-Competitive Behavior 2016

206-1 Legal actions for anti-competitive behavior, anti-trust, and monopoly practices

Governance: Compliance and ethical conduct, page 21

Materials

GRI 301: Materials 2016

301-1	Materials used by weight or volume	We do not manufacture
		our consumer

products, and the environmental impacts of our products are not among our most material impacts as a company. Accordingly, we have not yet consolidated this data into a reportable format but plan to continue to work with our licensee partners to manage these materials and their reporting. It is our intention to engage third-party sustainability experts to establish guidelines around the environmental impacts of products that include our intellectual property.

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GRI CONTENT INDEX (CONTINUED)

	Disclosures	Page number, URL, or direct answer	Omissions

Energy
GRI 302: Energy 2016

302-1	Energy consumption within the	Sustainable Production and Operations: Greening
	organization	our office and facilities operations - ViacomCBS
		annual energy use by type, page 62
302-4	Reduction of energy consumption	Sustainable Production and Operations: Greening
		our office and facilities operations, page 61
Water
GRI 303: Water & Effluents 2018
303-5	Water consumption	Sustainable Production and Operations:
		Environmental impacts of our operations
		and facilities, page 60
Emissions
GRI 305: Emissions 2016
305-1	Direct (Scope 1) GHG emissions	Sustainable Production and Operations: Climate
		change - ViacomCBS greenhouse gas emissions,
		page 55
305-2	Energy indirect (Scope 2) GHG emissions	Sustainable Production and Operations: Climate
		change - ViacomCBS greenhouse gas emissions,
		page 55
305-3	Other indirect (Scope 3) GHG emissions	Sustainable Production and Operations: Climate
		change - ViacomCBS greenhouse gas emissions,
		page 55
305-4	GHG emissions intensity		We have not yet
			consolidated this
			data into a reportable
			format.
305-5	Reduction of GHG emissions	Sustainable Production and Operations:
		Climate change, page 53; Greening our office
		and facilities operations, page 61

Waste

GRI 306: Waste 2020

306-1 Waste generation and significant waste- related impacts

Sustainable Production and operations: Environmental impacts of our operations and facilities - Greening our office and facilities operations, page 61

306-2	Management of significant waste-related	Sustainable Production and Operations:
	impacts	Environmental impacts of our operations and
		facilities - Greening our office and facilities
		operations, page 61

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GRI CONTENT INDEX (CONTINUED)

	Disclosures	Page number, URL, or direct answer	Omissions

Environmental Compliance
GRI 307: Environmental Compliance 2016

307-1	Non-compliance with environmental laws	We had no instances of non-compliance with
	and regulations	environmental laws or regulations in 2019.

Supplier Environmental Assessment

GRI 308: Supplier Environmental Assessment 2016

308-1 New suppliers that were screened using environmental criteria

Sustainable Production and Operations: Supply	We have not yet
chain responsibility - Expectations for our suppliers,	consolidated this
page 63	data into a reportable
	format, but are
	working to make
	our environmental
	criteria consistent
	and clear across our
	sourcing and licensing
	procurement practices.

308-2 Negative environmental impacts in the supply chain and actions taken

Sustainable Production and Operations: Supply chain responsibility - Expectations for our suppliers, page 63; Consumer products - Managing risks and opportunities; page 66

Employment

GRI 401: Employment 2016

401-1	New employee hires and employee	Workforce and Culture: Employee attraction,
	turnover	retention, and training, page 46
401-2	Benefits provided to full-time employees	Workforce and Culture: Employee attraction,
	that are not provided to temporary or part-	retention, and training, page 46
	time employees
401-3	Parental leave	We do not report on
		this information at this
		time but plan to do so
		in future reporting.

Labor/Management Relations

GRI 402: Labor/Management Relations 2016

402-1	Minimum notice periods regarding	Workforce and Culture: Labor relations, page 50
	operational changes

76	ViacomCBS ESG Report 2019

Introduction	Governance	On-screen	Workforce	Sustainable	Reporting
		content and	and culture	production	indices
		social impact		and operations

GRI CONTENT INDEX (CONTINUED)

	Disclosures	Page number, URL, or direct answer	Omissions

Occupational Health and Safety
GRI 403: Occupational Health and Safety 2018

403-1	Occupational health and safety	Workforce and Culture: Health, safety, and security,
	management system	page 48
403-2	Hazard identification, risk assessment,	Workforce and Culture: Health, safety, and security,
	and incident investigation	page 48
403-3	Occupational health services	Workforce and Culture: Health, safety, and security,
		page 48
		Case Study: Responding to a global pandemic,
		page 12
403-5	Worker training on occupational health	Workforce and Culture: Health, safety, and security,
	and safety	page 48
403-6	Promotion of worker health	Workforce and Culture: Health, safety, and security,
		page 48

403-7	Prevention and mitigation of occupational	Workforce and Culture: Health, safety, and security
	health and safety impacts directly linked	- Protecting worker safety and health, page 48
	by business relationships
403-9	Work-related injuries	Workforce and Culture: Health, safety, and security
		- Protecting worker safety and health, page 48
Training and Education
GRI 404: Training and Education 2016

404-1	Average hours of training per year per	Workforce and Culture: Employee attraction,
	employee	retention, and training, page 46
404-2	Programs for upgrading employee skills	Workforce and Culture: Employee attraction,
	and transition assistance programs	retention, and training, page 46

404-3 Percentage of employees receiving regular performance and career development reviews

Workforce and Culture: Employee attraction, retention, and training - Helping employees advance with training and mentoring, page 46

Diversity and Equal Opportunity

GRI 405: Diversity and Equal Opportunity 2016

405-1	Diversity of governance bodies and	Governance: Corporate governance, page 21
	employees	Workforce and Culture: Fostering a diverse
		workforce and inclusive workplace, page 41
405-2	Ratio of basic salary and remuneration of	We have not yet
	women to men	consolidated this
		data into a reportable
		format.

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		content and	and culture	production	indices
		social impact		and operations

GRI CONTENT INDEX (CONTINUED)

Disclosures

Page number, URL, or direct answer

Omissions

Non-Discrimination

GRI 406: Non-Discrimination 2016

406-1 Incidents of discrimination and corrective actions taken

Workforce and culture: Eliminating harassment and discrimination, page 45

Freedom of Association and Collective Bargaining

GRI 407: Freedom of Association and Collective Bargaining 2016

407-1 Operations and suppliers in which the Workforce and Culture: Labor relations, page 50

right to freedom of association and collective bargaining may be at risk

Child Labor

GRI 408: Child Labor 2016

408-1	Operations and suppliers at significant risk	Workforce and Culture: Labor relations - Employing
	for incidents of child labor	minors, page 50

Sustainable Production and Operations:

Managing risks and opportunities, page 66

Forced or Compulsory Labor

GRI 409: Forced or Compulsory Labor 2016

409-1	Operations and suppliers at significant risk	Workforce and Culture: Labor relations, page 50
	for incidents of forced or compulsory labor	Sustainable Production and Operations:
		Sourcing and procurement, page 64

Human Rights

GRI 412: Human Rights Assessment 2016

412-1	Operations that have been subject	We have not yet
	to human right reviews or impact	consolidated this
	assessments	information into a
		reportable format.

412-2 Employee training on human rights

policies or procedures

We do not offer specific training on human rights, but all employees are required to complete training on our Code of Conduct.

Local Communities

GRI 413: Local Communities 2016

413-1 Operations with local community engagement, impact assessments, and development programs

On-Screen Content and Social Impact: Expanding our social impact through community projects, page 35

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		content and	and culture	production	indices
		social impact		and operations

GRI CONTENT INDEX (CONTINUED)

Disclosures

Page number, URL, or direct answer

Omissions

Supplier Social Assessment

GRI 414: Supplier Social Assessment 2016

414-1 New suppliers that were screened using social criteria

Sustainable Production and Operations:	We have not yet
Supply chain responsibility - Expectations	consolidated this
for our suppliers, page 63	data into a reportable
	format, but are
	working to make
	our environmental
	criteria consistent
	and clear across our
	sourcing and licensing
	procurement practices.

414-2 Negative social impacts in the supply chain and actions taken

Sustainable Production and Operations: Supply chain responsibility - Expectations for our suppliers, page 63; Consumer products - managing risks and opportunities; page 66

Public Policy

GRI 415: Public Policy 2016

415-1 Political contributionsGovernance: Public policy engagement, page 23

Customer Health and Safety

GRI 416: Customer Health and Safety 2016

416-1	Assessment of the health and safety	Sustainable Production and Operations: Consumer
	impacts of product and service categories	products, page 66
416-2	Incidents of non-compliance concerning	Sustainable Production and Operations: Consumer
	the health and safety impacts of products	products, page 66
	and services

Marketing and Labeling

GRI 417: Marketing and Labeling 2016

417-1 Requirements for product and service information and labeling privacy and losses of customer data

Sustainable Production and Operations: Consumer products, page 66

417-2	Incidents of non-compliance concerning	We have not yet
	product and service information and	consolidated this
	labeling	data into a reportable
		format.
417-3	Incidents of non-compliance concerning	We have not yet
	marketing communications	consolidated this
		data into a reportable
		format.

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Introduction	Governance	On-screen	Workforce	Sustainable	Reporting
		content and	and culture	production	indices
		social impact		and operations

GRI CONTENT INDEX (CONTINUED)

	Disclosures	Page number, URL, or direct answer	Omissions

Customer Privacy
GRI 418: Customer Privacy 2016

418-1	Substantiated complaints concerning	Governance: Data privacy and security, page 22
	breaches of customer privacy and losses
	of customer data
Socioeconomic Compliance
GRI 419: Socioeconomic Compliance 2016

419-1	Non-compliance with laws and regulations	Governance, page 18
	in the social and economic area

80	ViacomCBS ESG Report 2019

Introduction	Governance	On-screen	Workforce	Sustainable	Reporting
		content and	and culture	production	indices
		social impact		and operations

SUSTAINABILITY

ACCOUNTING

STANDARDS BOARD

2019 SASB DISCLOSURE

The Sustainability Accounting Standards Board (SASB) is a nonprofit organization that helps companies publicly disclose the ESG metrics most important to the investor community. This SASB disclosure is our first response to SASB's reporting recommendations. We are committed to transparent and consistent reporting against our most material impacts as a company and are proud to respond to SASB as a part of this commitment to reporting.

In the table below, we respond to SASB indicators for the Media & Entertainment, Telecommunication Services, and Internet Media & Services industries, with the first being the most relevant to our business.

Accounting Metrics

Disclosure Topic

SASB Code & Accounting Metric

ViacomCBS Response

Industry: Media & Entertainment

Media Pluralism	SV-ME-260a.1
	Percentage of gender and racial/ethnic
	group representation for (1) management,
	(2) professionals, and (3) all other
	employees

Workforce and Culture: Employee diversity, page 43

	SV-ME-260a.2	On-Screen Content and Social Impact:
	Description of policies and procedures to	Promoting inclusion in front of and behind
	ensuring pluralism in news media content	the camera, page 28
Journalistic Integrity & Sponsorship	SV-ME-270a.3	On-Screen Content and Social Impact:
Identification	Description of approach for ensuring	Responsible content and advertising,
	journalistic integrity of news programming	page 31
	related to: (1) truthfulness, accuracy,
	objectivity, fairness, and accountability,
	(2) independence of content and/or
	transparency of potential bias, and (3)
	protection of privacy and limitation of harm

Intellectual Property Protection	SV-ME-520a.1
& Media Piracy	Description of approach to ensuring
	intellectual property (IP) protection

On-Screen Content and Social Impact: Responsible content and advertising - Intellectual property and copyright, page 32

81	ViacomCBS ESG Report 2019

Introduction	Governance	On-screen	Workforce	Sustainable	Reporting
		content and	and culture	production	indices
		social impact		and operations

ACCOUNTING METRICS (CONTINUED)

Disclosure Topic

SASB Code & Accounting Metric

ViacomCBS Response

Industry: Internet Media & Services

Data Privacy, Advertising Standards

& Freedom of Expression

TC-IM-220a.1

Description of policies and practices relating to behavioral advertising and user privacy

Governance: Data privacy and security, page 22

Data Security	SV-IM-230a.2
	Description of approach to identifying and
	addressing data security risks, including
	use of third-party cybersecurity standards

Governance: Data privacy and security, page 22

Employee Recruitment, Inclusion

& Performance

TC-IM-330a.3

Percentage of gender and racial/ethnic group representation for (1) management,

technical staff, and (3) all other employees

Workforce and Culture: Employee diversity, page 43

Intellectual Property

Protection & Competitive Behavior

TC-IM-520a.1

Total amount of monetary losses as a result of legal proceedings associated with anti-competitive behavior regulations

On-Screen Content and Social Impact: Responsible content and advertising - Intellectual property and copyright, page 32

Industry: Telecommunication Services

Environmental Footprint of Operations	TC-TL-130a.1	Sustainable Production and Operations:
	(1) Total energy consumed, (2) percentage	Environmental impacts of our operations
	grid electricity, (3) percentage renewable	and facilities, page 62

Data Privacy	TC-TL-220a.1	On-screen Content and Social Impact:
	Description of policies and practices	A responsible approach to advertising,
	relating to behavioral advertising and	page 31
	customer privacy

Data Security	TC-TL-230a.2
	Description of approach to identifying and
	addressing data security risks, including
	use of third-party cybersecurity standards

Governance: Data privacy and security, page 22

Product End-of-life Management	TC-TL-440a.1
	(1) Materials recovered through take
	back programs, percentage of recovered
	materials that were (2) reused, (3) recycled,
	and (4) landfilled

This does not apply to our business at this time.

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		content and	and culture	production	indices
		social impact		and operations

Activity Metrics

Our activity metrics apply to the accounting metrics to which we responded above.

SASB Code & Accounting Metric	ViacomCBS Response

Industry: Media & Entertainment
SV-ME-000.A	On-screen Content and Social Impact, page 25

Total recipients of media and the number of (2) households reached by broadcast TV, (3) subscribers to cable networks, and (4) circulation for magazines and newspapers

SV-ME-000.B	On-screen Content and Social Impact, page 25
Total number of media productions and publications produced

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		content and	and culture	production	indices
		social impact		and operations

FORWARD-LOOKING STATEMENT

CAUTIONARY STATEMENT CONCERNING

FORWARD-LOOKING STATEMENTS

This ESG Report contains both historical and forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements reflect our current expectations concerning future results and events; generally can be identified by the use of statements that include phrases such as "believe," "expect," "anticipate," "intend," "plan," "foresee," "likely," "will," "may," "could," "estimate" or other similar words or phrases; and involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause our actual results, performance or achievements to be different from any future results, performance or achievements expressed or implied by these statements. These risks, uncertainties and other factors are discussed in the risk factors disclosed in our Annual Report on Form 10-K for the year ended December 31, 2019 (filed with the Securities and Exchange Commission (the "SEC") on February 20, 2020) and in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 (filed with the SEC on August 6, 2020). Other risks may be described in our news releases and other filings with the SEC, including but not limited to our Current Reports on Form 8-K. There may be additional risks, uncertainties and factors that we do not currently view as material or that are not necessarily known. The forward-looking statements included in this ESG Report are made only as of the date of this document and we do not undertake any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

84	ViacomCBS ESG Report 2019

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ViacomCBS Inc. published this content on 25 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 December 2020 08:28:00 UTC

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Chart Paramount Global

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Company Profile

Paramount Global is a media, streaming and entertainment company. The Company has three segments. TV Media segment consists of its broadcast operations: CBS Television Network, CBS Stations and its international free-to-air networks; domestic premium and basic cable networks, including Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, CBS Sports Network and international extensions of certain of these brands, and domestic and international television studio operations. Direct-to-Consumer segment includes its portfolio of domestic and international pay and free streaming services, including Paramount+, Pluto TV, BET+ and Noggin. Filmed Entertainment segment consists of Paramount Pictures, Paramount Players, Paramount Animation, Nickelodeon Studio, Awesomeness and Miramax. Filmed Entertainment segment consists of Paramount Pictures, Paramount Players, Paramount Animation, Nickelodeon Studio, Awesomeness and Miramax.

Sector

Broadcasting

Calendar

04/06/2024 - Annual General Meeting

Related indices

S&P 500

More about the company

Income Statement Evolution

More financial data

Analysis / Opinion

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Ratings for Paramount Global

Trading Rating

Investor Rating

ESG Refinitiv

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Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

13.01 USD

Average target price

13.14 USD

Spread / Average Target

+1.01%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Broadcasting

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Other Broadcasting

Paramount Global

Equities

PARA

US92556H2067

Broadcasting

ViacomCBS : ESG Report

EPS Revisions