Organization: Under Armour, Inc.

Year: 2019

Resolved:

Resolved: Shareholders request that Under Armour senior management, with oversight from the Board of Directors, issue a report on climate change mitigation strategies, assessing the feasibility of adopting quantitative, company-wide goals for increasing Under Armour's energy efficiency, use of renewable energy and any other measures deemed prudent by company management to substantially reduce the company's greenhouse gas (GHG) emissions and climate change risks associated with the use of fossil-fuel-based energy. The report should be issued within one year of this filing at reasonable cost and omit proprietary information.

Supporting Statement:

Supporting Statement: By setting goals to improve energy efficiency, to increase renewable energy usage, and adopting such other measures that the company deems feasible, our company could prepare to take practical steps to reduce our emissions of GHGs and therefore our climate change risks.

The Intergovernmental Panel on Climate Change estimates that a 45% reduction in anthropogenic GHG emissions globally is needed (from 2010 levels) by 2030 to avoid the worst impacts of climate change (Global Warming of 1.5 degrees C, IPCC, Oct 2018). This could drive an increase in laws and regulations intended to meet that reduction, which may have an effect on energy prices and availability.

Assessing the feasibility of clean energy goals and other measures to reduce GHG emissions by using renewable energy could serve as a practical step towards aligning our business operations with global efforts to limit climate change. This could help insulate our company from regulatory uncertainty.

Many major companies are finding that GHG-reducing measures are both practical and cost effective. The US Energy Information Association reports the average cost of electricity at $0.1068/kWh for commercial customers in 2017, up from $0.1043 in 2016. By contrast, according to the 2018 Sustainable Energy in America Factbook (Bloomberg) "the most competitive power purchase agreements (PPAs) came in at just over $.020/kWh for solar, while wind PPAs averaged an estimated $.017/kWh in 2017."

Globally, 154 companies have committed to adopt 100 percent renewable electricity.

Unfortunately, Under Armour's website is silent on specific, measurable plans to increase the use of renewable energy or curb GHG emissions. As such, Under Armour lags behind its many peers in the fashion and apparel industry who have already committed to 100% renewable energy including Nike, PVH and VF Corporation, or Adidas which adopted a goal to improve supplier energy efficiency 20% by 2020.

Accordingly, we urge Under Armour to emulate the best climate risk mitigation practices among its corporate peers and to study the feasibility of adopting goals for increasing the Company's energy efficiency and use of renewable energy.