What changed in this filing

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Item 1. Business

2022-02-23 compared with 2021-02-24 · 329 added, 329 removed, 237 unchanged (74% of the section changed)

(“Hasbro”) is a global play and entertainment company committed to Creating the World’s Best Play and Entertainment Experiences.

From toys, games and consumer products to television, movies, digital gaming, and other entertainment experiences, we connect to global audiences by bringing to life great innovations, stories and brands across established and inventive platforms.

(“Hasbro”) is a global play and entertainment company committed to Creating the World’s Best Play and Entertainment Experiences and its purpose of making the world a better place for all children, fans and families.

Hasbro delivers immersive brand experiences for global audiences through consumer products, including toys and games;

entertainment through Entertainment One (“eOne,”), our independent studio;

and gaming, led by the team at Wizards of the Coast, an award-winning developer of tabletop and digital games.

With our eOne studio and Wizards gaming business, we continue to expand our global audiences beyond children, fans and families, through content and gaming.

Our iconic brands include NERF, MAGIC:

THE GATHERING, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, BABY ALIVE, POWER RANGERS, PEPPA PIG and PJ MASKS, as well as premier partner brands.

Through our recently acquired global entertainment studio, Entertainment One (“eOne”), we are building our brands globally through great storytelling and content on all screens.

At Hasbro, we are committed to making the world a better place for all children, fans and families.

We believe that doing well includes doing good in the world and for all our constituents.

This is demonstrated in all we do, including through our corporate social responsibility and philanthropy initiatives.

We were ranked among the 2020 100 Best Corporate Citizens by 3BL Media, and have been named one of the World’s Most Ethical Companies® by Ethisphere Institute for the past ten years, and one of America’s Most JUST Companies by Forbes and JUST Capital for the past four years.

The terms “Hasbro,” “Company”, “we”, “our” and “us” are used in this report to refer collectively to Hasbro and the subsidiaries through which our businesses are conducted.

THE GATHERING, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, BABY ALIVE, DUNGEONS & DRAGONS, POWER RANGERS, PEPPA PIG and PJ MASKS, as well as premier partner brands.

For the past decade, we have been consistently recognized for our corporate citizenship, including being named one of the 100 Best Corporate Citizens by 3BL Media and one of the World’s Most Ethical Companies by Ethisphere Institute.

Fiscal 2021 Developments

• Acquisition of Entertainment One .

Fiscal 2020 began with the completion of our acquisition of eOne, a global entertainment company.

eOne adds global children’s brands, such as PEPPA PIG and PJ MASKS to our portfolio, and brings experienced talent, expertise and capabilities across television, film and other

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forms of entertainment.

Throughout 2020 we successfully integrated many parts of our business and have started to achieve synergies as a combined company.

Leadership Matters

On October 12, 2021, we announced the passing of our beloved leader and long-time Chairman and Chief Executive Officer, Brian D.

Goldner joined Hasbro in 2000 and was quickly recognized as a visionary in the industry.

He was appointed CEO in 2008 and became Chairman of the Board in 2015.

He was instrumental in transforming the Company into a global play and entertainment leader, architecting a strategic Brand Blueprint to create the world’s best play and storytelling experiences.

Through his unwavering focus, he expanded the Company beyond toys and games into television, movies, digital gaming and beyond, to ensure Hasbro’s iconic brands reached every consumer, in every way they engage in entertainment and play.

Following Mr.

Goldner’s passing, Richard S.

Stoddart, an independent member of the Board since 2014, was appointed by the Board to serve as Hasbro’s interim CEO while the Company completed its CEO succession process.

In addition to the appointment of Mr.

Stoddart, Tracy A.

Leinbach, a member of the Board since 2008, was appointed to serve as Chair of the Board, and the Lead Independent Director role was eliminated.

In January 2022, we announced the appointment of Christian (Chris) Cocks as Chief Executive Officer and a member of the Board of Directors, both effective February 25, 2022.

He will succeed interim CEO, Mr.

Stoddart, who will become Chair of the Board, effective February 25, 2022.

Since 2021, Mr.

Cocks has served as President and Chief Operating Officer of Hasbro’s Wizards of the Coast and Digital Gaming division, a global leader in tabletop and digital gaming, and prior to that he served as President and COO of Wizards of the Coast since 2016, when he joined Hasbro from Microsoft.

In January 2022, we also announced the appointment of Eric Nyman as President and Chief Operating Officer, effective February 25, 2022, where he will oversee global business, operational and foundational platform investments;

continue to lead Hasbro’s consumer products business, overall consumer licensing strategy and strategic partnerships;

and oversee Hasbro’s global supply chain.

Nyman, who joined Hasbro in 2003, currently serves as Chief Consumer Officer and Chief Operating Officer of Hasbro Consumer Products.

eOne Music Sale

In June 2021, we completed the sale of our Entertainment One Music business (“eOne Music”) as we continue to focus on the core strategic elements of our Brand Blueprint to further strengthen our position as a purpose‐led play and entertainment company.

Segment Realignment

Effective for the first quarter of 2021, we realigned our reportable segment structure to correspond with the evolution of our company.

The realigned segments represent changes to our reporting structure and reflect management’s allocation of decision-making responsibilities for evaluating the Company’s performance.

Our new reportable segments are:

Consumer Products, Wizards of the Coast and Digital Gaming, Entertainment and Corporate and Other.

See “Reportable Segments” below and note 21 to the consolidated financial statements included in Part II, Item 8.

Financial Statements, of this Form 10-K for further discussion on the Company's segment realignment.

Coronavirus Pandemic

During fiscal 2020 and continuing into fiscal 2021, the world has been significantly impacted by the novel coronavirus (COVID-19) pandemic.

Overall we experienced accelerated growth in our ecommerce, and in particular, sales of games, as consumers did more shopping on-line and families were playing more games while at home.

We also experienced increased interest in our Wizards of the Coast table-top gaming and entertainment content, as consumers were searching for entertainment options during the pandemic.

The pandemic did, however, have a substantial adverse impact on our business, as well as our employees, consumers, customers, partners, licensees, suppliers and manufacturers, due in part to the preventative measures taken to reduce the spread of the virus.

These preventative measures included restrictions on business operations, temporary closures or limited reopening of many retail, manufacturing and entertainment production businesses, shelter-in-place and stay-at-home orders, and other voluntary and government imposed restrictions.

We experienced:

◦ Strong consumer and audience demand for games and content;

◦ disruptions in supply of products due to closures or reductions in operations at third-party manufacturing facilities across several geographies including, but not limited to, China, India, the United States and Ireland, as well as increased costs and difficulties in shipping and distributing products;

During fiscal 2020, the novel coronavirus (COVID-19) pandemic had a substantial adverse impact on our business, as well as our employees, consumers, customers, partners, licensees, suppliers and manufacturers, due both to the direct impact of the virus, as well as the preventative measures taken to reduce the spread of the virus worldwide.

In fiscal 2020, and continuing into fiscal 2021, we experienced:

◦ difficulties in shipping and distributing products due to ongoing port capacity, shipping container and truck transportation shortages, resulting in higher costs for both ocean and air freight and delays in the availability of products, which can result in delayed sales and in some cases result in lost sales.

These and other disruptions are expected to continue in 2022;

◦ disruptions in supply of products, due to closures or reductions in operations at third-party manufacturing facilities across several geographies including, but not limited to, China, Vietnam, India, the United States and Ireland;

◦ adverse sales impact due to changes in consumer purchasing behavior and availability of products to consumers, resulting from retail store closures, limited reopening of retail stores and limitations on the capacity of ecommerce channels to supply additional products;

◦ fluctuations in our performance based on the progress of different countries in controlling the coronavirus and the maturity of e-commerce platforms in those markets;

◦ limited production of live-action scripted and unscripted live-action entertainment content due to the shutdown and gradual reopening of production studios;

◦ in fiscal 2020, limited production of live-action scripted and unscripted entertainment content due to the hard stop and soft reopening of production studios;

◦ delays or postponements of entertainment productions and releases of entertainment content both internally and by our partners;

◦ challenges of working remotely.

◦ increases in entertainment production costs due to measures required to minimize COVID-19 risks;

◦ challenges of working remotely, including in the design and development of both physical and digital product offerings by us and our licensees.

In response to these challenges, we developed and continue to develop and execute plans to mitigate the negative impact of COVID-19 to the business.

Our responses included:

◦ utilizing our global supply chain and existing inventory to work to meet demand, as our manufacturing facilities returned to varying levels of operation;

◦ creatively finding ways to accelerate our business online and expand omni-channel to get products to customers;

◦ developing innovative ways to enable players to continue to play MAGIC:

THE GATHERING games remotely;

◦ continuing to develop new entertainment, including working on animation productions and post-production work, which were able to be worked on remotely.

◦ utilizing our global supply chain and existing inventory to work to meet demand, while managing freight cost increases across all markets, as our manufacturing facilities returned to varying levels of operation;

◦ mitigating risk in the global supply chain by expanding shipping capacity, activating alternate ports in China and the U.S.

and prioritizing supply based on inventory and customer needs, including utilizing air freight to a greater degree, which has raised our costs;

◦ accelerating our business online and expanding omni-channel to get products to customers and consumers;

◦ developing innovative ways to enable players to continue to play games remotely;

◦ continuing to create new entertainment, including post-production work and the development of animation productions remotely;

◦ implementing preventative measures and health and safety protocols;

◦ introduction of a hybrid work model.

We have maintained sufficient liquidity and access to capital resources.

We also continue to closely manage expenses to further preserve liquidity and we continually monitor customer health and collectability of receivables.

We also continue to closely monitor customer health and collectability of receivables.

The COVID-19 outbreak continues to be fluid and it is difficult to forecast the impact it could have on our future operations.

Please see Part I, Item 1A.

Risk Factors, of this Form 10-K for further information.

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Risk Factors, in this Form 10-K for further information.

Brand Blueprint Strategy

Our strategic plan is centered around Hasbro’s Brand Blueprint, a framework for bringing compelling and expansive brand experiences to consumers and audiences around the world.

Our brands are story-led consumer franchises brought to life through a wide array of consumer products, compelling content offered across a multitude of platforms and media, including a variety of digital experiences, as well as music, publishing and live entertainment.

Hasbro's purpose of making the world a better place for all children, fans and families sits at the center of the Hasbro Brand Blueprint and a key driver of Hasbro brands and content.

The development and execution of our brands and content are informed by our proprietary consumer insights, which help us understand the behavior of our consumers, from a consumption of content and play standpoint.

We have learned that consumers will travel with a brand that they love across multiple forms and formats, including our core historical strength of toys and games and licensed consumer products, as well as digital gaming and story-led entertainment, including short-form content online and long-form content in television and film.

Our acquisition of eOne expands our brands and the capabilities around the Hasbro Brand Blueprint.

• New Family Brands .

eOne adds established preschool brands as well as the capability to build new brands.

These highly merchandisable properties include PEPPA PIG and PJ MASKS, as well as emerging properties and other brands that are in development.

• Proven TV and Film Experience .

eOne’s proven television and film expertise and leadership enhances our storytelling capabilities in television, film and other mediums.

eOne’s independent studios enable us to develop, own and distribute robust and entertaining stories around our brands and other intellectual property, through animation, unscripted and scripted live action television and entertainment as well as in feature films.

By developing, owning and strategically distributing content, the acquisition positions us to capture more franchise economics created and perpetuated by differentiated platforms.

Our strategic plan is centered around the Hasbro Brand Blueprint, a framework for bringing compelling and expansive brand experiences to consumers and audiences around the world.

Our brands are story-led and play-led consumer franchises brought to life through a wide array of consumer products, digital gaming and compelling content offered across a multitude of platforms and media.

Our commitment to disciplined, strategic investments across the Brand Blueprint over the long-term has built a differentiated business with diversified capabilities to drive profitable growth and enhance shareholder value.

Hasbro's purpose of making the world a better place for all children, fans and families sits at the center of the Hasbro Brand Blueprint and is a key driver of our brands and content.

The development and execution of our brands and content are informed by our proprietary consumer insights, which help us understand the behavior of our consumers.

We have learned that consumers will travel with a brand that they love across multiple forms and formats, including our core historical strength of toys and games and licensed consumer products, as well as digital gaming and story-led entertainment, such as short-form content online and long-form content in television and film.

The value of Hasbro is fully activated when we can take a brand across all elements of the Brand Blueprint – consumer products;

Wizards of the Coast and digital gaming;

and entertainment.

The ability to build a brand in any of our segments and leverage in-house capabilities to create multiple categories of engagement with consumers and fans is unique to Hasbro and optimizes our economics today and in the future.

As the global consumer landscape, shopping behaviors and the retail and entertainment environments continue to evolve, we continue to adapt and refine our business strategy.

This process includes reexamining the ways we organize across the Hasbro Brand Blueprint, re-shaping our business into a more adaptive and digitally-driven organization, expanding our ecommerce capabilities and attracting and developing a high-performing and diverse workforce through human capital investments.

This process includes reexamining the ways we organize across the Hasbro Brand Blueprint, re-shaping our business into a more adaptive and digitally-driven organization, expanding our ecommerce capabilities, including building direct to consumer expertise, and attracting and developing a high-performing and diverse workforce through human capital investments.

Below is summary of the key areas of focus for activating our brands across the Hasbro Brand Blueprint.

• Toys and Games .

We market and sell toys and games based on our owned and controlled brands globally at retail stores, through ecommerce platforms and through our fan-based direct-to-consumer platform, Hasbro PULSE.

Additionally, through license agreements with third parties, we develop and sell products

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based on popular third party partner brands through these channels.

Our toys and games include action figures, arts and crafts and creative play products, fashion and other dolls, play sets, preschool toys, plush products, sports action blasters and accessories, vehicles and toy-related specialty products, traditional games and many other consumer products which represent an array of internationally recognizable brands that capture the imagination of our consumers worldwide.

We market and sell toys and games based on our owned and controlled brands globally at retail stores, through e-commerce platforms and through our fan-based direct-to-consumer platform, Hasbro PULSE.

Additionally, through license agreements with third parties, we develop and sell products based on popular third-party brands through these channels.

Our toys and games include action figures, arts and crafts and creative play products, fashion and other dolls, play sets, preschool toys, plush products, sports action blasters and accessories, vehicles and toy-related specialty products, games and many other consumer products which represent an array of internationally recognizable brands that capture the imagination of our consumers worldwide.

Within toys and games, as a leading producer of new and innovative gaming brands and play experiences our gaming business continues to transform game play.

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THE GATHERING and DUNGEONS & DRAGONS.

Our traditional game brands include long-time favorites such as MONOPOLY, JENGA, CONNECT 4, THE GAME OF LIFE, SCRABBLE, CLUE and TRIVIAL PURSUIT.

Our gaming business also includes new social games brands as well as many other well-known game brands.

Our iconic game brands include long-time favorites such as MONOPOLY, JENGA, CONNECT 4, THE GAME OF LIFE, SCRABBLE, CLUE and TRIVIAL PURSUIT.

Our gaming business also includes new social gaming brands as well as many other well-known game brands.

• Licensed Consumer Products .

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For example, we have developed and launched digital versions of the MAGIC:

THE GATHERING card game, MAGIC:

THE GATHERING ARENA , and expect to launch this game in mobile applications in 2021.

Through Wizards we are working on the development of Dark Alliance, a team-based game and adventure set in the DUNGEONS & DRAGONS world.

Additionally, we out-license certain of our brands to other third-party digital game developers who transform Hasbro brand-based characters and other intellectual properties, into digital gaming experiences.

This includes Baldur's Gate 3 DUNGEONS & DRAGONS game, that we are developing with our partner, Larian Studios.

THE GATHERING card game, including Magic:

The Gathering Arena , which includes the game's mobile application launch in 2021.

Additionally, through Wizards we launched Dungeons & Dragons:

Dark Alliance , a team-based action role-playing game, set in the DUNGEONS & DRAGONS world, released in the first half of 2021 for PC and gaming consoles.

We also out-license certain of our brands to other third-party digital game developers who transform Hasbro brand-based characters and other intellectual properties, into digital gaming experiences.

• Entertainment .

A key driver of the Hasbro Brand Blueprint is to reinforce storylines associated with our brands through several entertainment mediums, including television, film, digital content and other programming.

• Throughout 2020, as we integrated eOne's creative talent and network of studios, eOne has assumed the leadership of our entertainment-driven brand storytelling.

Our entertainment business is now a fully operational, global studio, that specializes in the development, acquisition, production, financing, distribution and sales of entertainment content.

With our cross-platform capabilities, we believe our entertainment business is positioned to leverage film, television and music production and sales, digital content and family programming to create compelling entertainment and drive creativity across brands with merchandising and licensing tie-ins.

◦ Family Brands Animation .

eOne’s family brands team develops, produces and distributes animation content for children’s properties on a worldwide basis.

The principal brand is PEPPA PIG, which was launched in the United Kingdom in May 2004.

This brand entertains preschool children worldwide with much of its historical revenue generated through licensing and merchandising programs across multiple retail categories.

eOne’s portfolio of preschool brands also includes PJ MASKS, CUPCAKE & DINO:

GENERAL SERVICES, and RICKY ZOOM.

Given eOne’s expertise in this area, the eOne Family Brands team will continue the development of animation for our brands, including MY LITTLE PONY.

This work continued during 2020 despite the pandemic.

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Our entertainment business, through eOne, is a global independent studio, that specializes in the development, acquisition, production, distribution and sales of entertainment content.

With our cross-platform capabilities our entertainment business leverages film and television production and sales, digital content and children's programming to create compelling entertainment and drive creativity across brands with merchandising and licensing tie-ins.

◦ Television .

Television programming based on our brands currently airs in markets throughout the world.

Domestically, we distribute programming to Discovery Family Channel (the “Network”), a joint venture between Discovery Communications, Inc.

(“Discovery”) and Hasbro which operates a cable television network in the United States dedicated to high-quality children’s and family entertainment and educational programming.

Additionally, we distribute certain programming domestically to other outlets.

Internationally, we distribute to various broadcasters and cable networks.

We also distribute programming globally on various digital platforms, including Netflix.

In 2016, Hasbro acquired Boulder Media, an animation studio based in Dublin, Ireland that produces a variety of animation projects, including those for third parties.

With the acquisition of eOne, we have significantly expanded our television production and distribution capabilities.

eOne is a major independent producer of television content primarily in North America.

eOne focuses on the development, production and acquisition of high-quality television programming for sale to broadcasters and digital platforms globally.

eOne develops and produces original television programming for broadcast in its core television production territories of Canada and the U.S., which is then distributed into global markets by eOne’s own international sales network.

eOne typically finances its television programming on a production‑by‑production basis by way of production financing facilities.

eOne’s original television programming is sold to broadcasters on a series‑by‑series or individual show basis for broadcast on free television, pay television, Subscription Video‑On‑Demand and other digital platforms.

Its programming spans a variety of genres, including scripted drama, non‑scripted reality and documentaries, and in multiple formats, including series, television films, mini‑series and specials.

With the addition of eOne’s global independent film business, we have expanded our capabilities in this area.

eOne focuses on the production and co-production of a growing number of films, some of which are based on Hasbro brands, as well as the acquisition and development of film production rights and the exploitation of these rights on a multi‑territory basis across all media channels, including cinema, physical home entertainment and broadcast and digital.

In 2020, due to the pandemic, the industry saw delays or postponements in releases of films, or in some cases films were released direct to streaming or to streaming after a limited theater release.

We expect these trends could continue in the near future.

In television, we are a major independent producer of television content with a focus on the development, production and acquisition of high-quality television programming for sale to broadcasters and digital platforms globally.

Through our television studios, we develop and produce original programming for broadcast in our core television production territories of Canada and the U.S., which is then distributed into global markets to various broadcasters and cable networks by our international sales network.

We also distribute programming globally on various digital platforms, including Netflix and Apple TV.

Our television programming is typically financed on a production‑by‑production basis by way of production financing facilities.

Our original television programming is sold to broadcasters on a series‑by‑series or individual show basis for broadcast on free television, pay television, Subscription Video‑On‑Demand ("SVOD") and other digital platforms.

Our programming spans a variety of genres, including scripted drama, non‑scripted reality and documentaries, and in multiple formats, including series, television films, mini‑series and specials.

In film, our focus is on the development, production and co-production of films, an increasing number of which are based on Hasbro brands, as well as the acquisition and development of film production rights and the exploitation of these rights on a multi‑territory basis across all media channels, including cinema, physical home entertainment and broadcast and digital.

In October 2017, we entered into an agreement with Paramount Pictures (“Paramount”) to produce and distribute live action and animated films, as well as television programming based on Hasbro brands over a five-year period.

Hasbro’s Allspark Pictures, Allspark Animation and now eOne play an active role alongside Paramount in content development and production under this relationship and Hasbro plays a more significant role in financing the films.

Jointly, with Paramount Pictures, we have several upcoming feature length films with planned release dates in 2021 and 2022, including SNAKE EYES:

JOE ORIGINS , expected to be released in the fall of 2021, a TRANSFORMERS feature length film expected in 2022 as well as a planned DUNGEONS & DRAGONS feature length film.

Hasbro’s global eOne studio plays an active role alongside Paramount in content development and production under this relationship.

Hasbro also plays a significant role in financing films created through this cooperative agreement.

Under this relationship we plan to release TRANSFORMERS:

RISE OF THE BEASTS , a feature length film expected in summer of 2023.

In addition, under a separate agreement entered with Paramount, where Hasbro’s eOne studio will serve as the production entity, we plan to release a DUNGEONS & DRAGONS feature length film, expected in early 2023.

◦ Family Brands Animation .

Our family brands team develops, produces and distributes animation content for children’s properties on a worldwide basis.

The principal brands include MY LITTLE PONY, PEPPA PIG and PJ MASKS, whose content entertains children worldwide and generates revenues around the Hasbro Brand Blueprint through licensing and merchandising programs across multiple retail categories.

These brands generate revenues from Advertising Video-On-Demand (“AVOD”) through platforms such as YouTube and SVOD revenues from the sale of content to video streaming platforms.

Our portfolio of preschool brand driven content also includes PJ MASKS, CUPCAKE & DINO:

GENERAL SERVICES, and RICKY ZOOM, as well as BABY ALIVE and PLAY-DOH.

• Other Brand Blueprint Areas .

Other aspects of the Hasbro Brand Blueprint that help drive our storytelling experiences include music, digital content, e-sports, location-based entertainment, and publishing.

Through our acquisition of eOne, we operate a music label, which produces and releases music tracks and albums from artists across a wide variety of genres, and we own rights to a sizable catalog of music.

Our music business provides a source of music content for film and television productions and allows us to monetize some of the music produced from our films and television programs.

We also have a global music business specializing in management, publishing and live events across a wide variety of genres.

The music business also includes UK-based Audio Network, an independent creator and publisher of original high quality music for use in film, television, advertising and digital media.

Other aspects of the Hasbro Brand Blueprint that help drive our storytelling experiences include, digital content, e-sports, location-based entertainment, and publishing.

◦ Digital Content .

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Digital media encompasses digital gaming applications and the creation of digital environments for analog products through the use of complementary digital applications, social media and websites which extend storylines and enhance play.

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We continue to seek innovative ways to bring our traditional games to the digital world, where consumers can experience our brands and compete with each other in a multiplayer online adventure experience.

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The Gathering Arena , our digital gaming version of the MAGIC:THE GATHERING trading card game.

ARENA , initially launched in 2019, has become a leading e-sports game.

◦ Location-Based Entertainment .

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Licensing our brands to global publishers is another way to bring our brands to consumers in a meaningful way through various publishing formats, from puzzle and trivia books to novels and comics.

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Music remains a key medium to increase brand affinity and awareness.

We create branded music, working with distributors to exploit that music in physical, digital and streaming formats.

We partner our brands with music artists to increase exposure for our products and we work closely with music publishers to collect music publishing income from all manner of exploitation.

• Brand Blueprint in Action.

A few examples of our Brand Blueprint in action during 2021 and beyond are described below.

◦ In 2021, our gaming portfolio grew 19% to $2.1 billion.

Our gaming portfolio is one of the biggest, most profitable and fastest growing combinations of gaming brands across face to face, tabletop and digital platforms in the world.

Led by MAGIC:

THE GATHERING, which had its best year ever, we continue to invest in this growing business.

Tabletop to digital, MAGIC:

THE GATHERING and DUNGEONS & DRAGONS have generated significant growth with high engagement.

We have plans to leverage the power of Wizards’ brands across the Brand Blueprint for both current fans and potential new fans as we have a new MAGIC:

THE GATHERING Netflix series coming later in 2022, and, in early 2023, the planned theatrical release of the DUNGEONS & DRAGONS feature film as described above.

We believe these efforts will harness the full potential of the Brand Blueprint with new products introduced in toy & game and licensed consumer products.

◦ We experienced a successful relaunch of one of our iconic brands, MY LITTLE PONY.

Led by the expertise of our eOne entertainment team, we released My Little Pony:

A New Generation , an animated feature film that was #1 in the Netflix Kids Top 10 in more than 80 countries on opening weekend.

This relaunch fueled greater than 100% growth in toy and game point of sale in the fourth quarter 2021.

We have a significant multi-year content roadmap led by eOne and a deep and innovative merchandise program, which we believe will position this brand to reclaim its place as a leading global lifestyle brand.

◦ Two other valuable brands that benefited from the Brand Blueprint were PEPPA PIG and PJ MASKS.

In August 2021, we launched the first Hasbro toys and games for these leading preschool brands.

PEPPA PIG was one of our top brand growers for 2021, and as we shifted licensed revenue to in-sourced revenue in toys and games, we were still able to grow licensed consumer products revenue, highlighting the powerful reach of PEPPA PIG across categories.

Brand Portfolios

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• Emerging Brands

• TV, Film and Entertainment

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• TV/Film/Entertainment

Brand Portfolio Key Brands Description and Significant Developments

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• In 2021, MAGIC:

THE GATHERING and MONOPOLY benefited from consumers playing at home as well as new innovations of these games, such as MAGIC:THE GATHERING'S Zendikar Rising , “The Child” and SUPER MARIO Celebration inspired versions of MONOPOLY.

• While in-person MAGIC:

THE GATHERING play and e-sports events were not able to take place during 2020 as a result of the pandemic, remote-play initiatives from our Wizards of the Coast team enabled players to continue creating meaningful experiences through online play.

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THE GATHERING benefited from numerous successful card set releases including Strixhaven, Modern Horizons 2, Adventures in Forgotten Realms and Innistrad:

Midnight Hunt.

• In September 2021, we released the feature length film, MY LITTLE PONY:

A NEW GENERATION, as well as a new MY LITTLE PONY product line.

Partner Brands • MARVEL, including SPIDER-MAN and THE AVENGERS (1)

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• DISNEY PRINCESS (1)(2)

• DREAMWORKS’ TROLLS

• SESAME STREET

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(1) Owned by The Walt Disney Company (“Disney”).

(2) License expires at the end of 2022.

Includes those brands we license from other parties for which we develop toy and game products.

Partner brand revenues fluctuate based primarily on the entertainment releases around these brands in any given year.

• In 2020, we renewed our global toy and game licensed merchandise rights for major Disney entertainment properties Marvel and Star Wars, each for multi-year terms.

Under the Marvel license agreement, we continue to develop a wide range of toys and games for Marvel's global Universe of more than 8,000 characters.

The Star Wars license agreement includes the rights to develop toys and games based on entertainment like Star Wars:

The Clone Wars and The Mandalorian , incorporating favorite characters such as The Child from The Mandalorian.

• 2020 product lines were adversely affected due to the postponement or shift of the following releases due to the COVID-19 pandemic:

◦ DISNEY’S MULAN (straight to streaming)

◦ MARVEL’S BLACK WIDOW (moved to 2021)

◦ UNIVERSAL’S TROLLS (straight to streaming)

◦ SONY PICTURES GHOSTBUSTERS AFTERLIFE (moved to 2021)

• 2019 product lines were supported by the following theatrical releases:

▪ CAPTAIN MARVEL

▪ SPIDER-MAN:

FAR FROM HOME

◦ DISNEY’S FROZEN 2

◦ LUCASFILMS’ STAR WARS:

THE RISE OF SKYWALKER

• We hold global toy and game licensed merchandise rights for major Disney entertainment properties Marvel and Star Wars, each for multi-year terms.

• Our products were also supported by numerous streaming and broadcast television series of our partners.

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Hasbro Gaming

• DUNGEONS & DRAGONS

• DUEL MASTERS

• THE GAME OF LIFE

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Includes the Company’s face-to-face, trading card and digital game experiences played as board, off-the-board, digital, card, electronic, trading card and role-playing games.

• During 2020, due in part to the pandemic, we experienced accelerated growth in sales of games, as families were playing more games while at home.

Emerging Brands • FURREAL FRIENDS

• We launched Dungeons & Dragons:

Dark Alliance , a team-based action role-playing game, set in the DUNGEONS & DRAGONS world, in the first half of 2021 for PC and gaming consoles.

Emerging Brands • PEPPA PIG

• FURREAL FRIENDS

• POWER RANGERS

• SUPER SOAKER

• POTATO HEAD

• LITTLEST PET SHOP

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We also launch new brands in this portfolio.

During 2021, Hasbro launched its toy & game products for the PEPPA PIG and PJ MASKS brands.

Beginning in 2022, we have advanced PEPPA PIG to Franchise Brands.

TV, Film & Entertainment eOne programming series include:

• PRIVATE EYES

Television Series

• YELLOWJACKETS

• CRUEL SUMMER

• DESIGNATED SURVIVOR

• CLIFFORD THE BIG RED DOG

• COME FROM AWAY

eOne also has numerous TV and Film distribution rights including:

• FEAR THE WALKING DEAD

• THE WALKING DEAD

Includes all legacy eOne film, TV and other entertainment related revenues.

Includes all film, TV and other entertainment related revenues that are not Hasbro-branded.

All Hasbro-branded content is included in the portfolios noted above.

• In 2020, due to the pandemic, the entertainment industry saw shutdowns in live-action productions and delays or postponements in releases of productions.

In some cases films were released direct to streaming or to streaming after a limited theater release.

• By early 2021, our production studios were operating in line with pre-pandemic levels, together with appropriate health and safety protocols.

Reportable Segments

In 2020, our four principal operating segments were:

• International

• Entertainment, Licensing and Digital

We also have a Global Operations segment which is responsible for arranging product manufacturing and sourcing for the U.S.

and Canada and International segments.

Segment Realignment

Effective for the first quarter 2021, we realigned our reportable segment structure to correspond with the evolution of our company, which includes the integration of our global independent studio, eOne.

The realigned segments represent changes to our reporting structure and reflect management’s allocation of decision-making responsibilities for evaluating the Company’s performance.

Our new reportable segments are:

◦ Consumer Products

◦ Wizards of the Coast and Digital Gaming

◦ Entertainment

◦ Corporate and Other

Segment Description of Segment

and Canada • Engaged in the marketing and sale of toy and game products in the U.S.

and Canada, including our Wizards of the Coast business.

Toy and game products are primarily developed by cross-functional teams, including members of our global development and marketing groups, to establish a cohesive brand direction and assist the segments in establishing certain local marketing programs.

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International • Engaged in the marketing and sale of toy and game products to retailers and wholesalers across Europe, Latin America, South America and the Asia Pacific region and through distributors in those countries where we have no direct presence.

As of December 27, 2020, we had offices in more than 35 countries contributing to sales in more than 120 countries.

• We seek to further grow our international business through expansion in Eastern Europe, Asia, Africa and Latin and South America.

Entertainment, Licensing and Digital • Engaged in consumer products licensing, digital gaming, and Hasbro legacy entertainment operations.

• Digital gaming seeks to promote our brands through the development of digital games based on Hasbro and Wizards of the Coast games.

We have relationships with third parties to assist in the development of digital games based on our brands.

We also license our brands to third parties engaged in other forms of gaming.

• Consumer products licensing seeks to promote our brands through the out-licensing of our trademarks, characters and other brand and intellectual property rights to third parties who develop and offer consumer products.

• Major motion pictures and television programming based on our owned and controlled brands provide both immersive storytelling and the ability for our consumers to enjoy these properties in different formats, which we believe results in increased product sales, royalty revenues, and overall brand awareness as described above.

eOne • Engaged in the development, acquisition, production, financing, distribution and sale of entertainment content and is comprised of all legacy eOne operations.

• Includes film, television and music production and sales, family programming, merchandising and licensing, digital content and live entertainment.

Consumer Products • Engages in the sourcing, marketing and sales of toy and game products around the world.

Our Consumer Products business also promotes our brands through the out-licensing of our trademarks, characters and other brand and intellectual property rights to third parties, through the sale of branded consumer products such as toys and apparel.

Additionally, through license agreements with third parties, we develop and sell products based on popular third-party brands.

• Our toy and game products are supported by cross-functional teams including members of our global development and marketing groups.

Our global development teams develop, design and engineer new products alongside the redesign of existing products, driven by our understanding of consumers and using marketplace insights while leveraging opportunistic toy and game lines and licenses.

Our global marketing function establishes a cohesive brand direction and assists our selling entities in establishing local marketing programs.

This strategy leverages efforts to increase consumer awareness of our brands through the Company's entertainment experiences, including film and television programming and digital gaming.

• As of December 26, 2021, we had offices supporting our Consumer Products business in more than 35 countries contributing to sales in more than 120 countries.

Additionally, we seek to grow internationally through further expansion in Eastern Europe, Asia, Africa and Latin and South America.

Wizards of the Coast and Digital Gaming

• Engages in the promotion of our brands through the development of trading card, role-playing and digital game experiences based on Hasbro and Wizards of the Coast properties.

• Wizards of the Coast offerings include popular games such as the collectible card game MAGIC:

THE GATHERING and the fantasy tabletop role-playing game DUNGEONS & DRAGONS , as well as other digital games developed for mobile devices, personal computers and video gaming consoles including Magic:

The Gathering Arena .

Entertainment • Engaged in the development, acquisition, production, distribution and sale of world-class entertainment content including film, scripted and unscripted television, children's programming, digital content and live entertainment.

• Film and TV operations produce film and television content which is sold worldwide to distributors, broadcasters, television networks and streaming platforms.

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• Acquires third-party film and television content.

◦ In television, the eOne segment engages in the sale of acquired third party content internationally.

◦ For acquired films, eOne obtains territorial rights from independent producers to distribute in those territories and acquires global rights which are sold internationally.

• Family Brands creates, develops and markets children’s brands, primarily through content production that generates revenue from licensing and merchandising royalties through the sale of branded consumer products such as toys and apparel.

In addition, these brands generate revenues from advertising video on demand through platforms such as YouTube, subscription video on demand revenues from the sale of content to video streaming platforms such as Netflix, and to a lesser extent, from live show revenues from ticket sales.

• Includes music operations which generate revenues from the distribution of recorded music in physical formats and across digital streaming platforms as well as from music publishing for use in film, television, advertising and digital media.

In addition, music generates revenues from artist management and live events.

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Global Operations • Responsible for arranging product manufacturing and sourcing for the U.S.

and Canada and International segments.

• Within the U.S.

and Ireland, we utilize Cartamundi NV (“Cartamundi”) for game productions under a multi-year agreement in facilities we previously owned that are located in East Longmeadow, Massachusetts and Waterford, Ireland.

• Sourcing for our other products is done through unrelated third-party manufacturers in various Far East countries, principally China, India and Vietnam using a Hong Kong based wholly-owned subsidiary operation for quality control and order coordination purposes.

Over time we have increased the amount of product we source outside China, including in India and Vietnam.

As of December 27, 2020, 45% of third-party product manufacturing was sourced outside of China.

◦ In television, the Entertainment segment engages in the sale of acquired third-party content internationally.

◦ For acquired films, the Entertainment segment obtains territorial rights from independent producers to distribute in those territories and acquires global rights which are sold internationally.

• Feature length film and television programming based on our owned and controlled brands provide both immersive storytelling and the ability for our consumers to enjoy these properties in different formats, which also drives product sales, results in increased licensing revenues, and expands overall brand awareness.

Corporate and Other • Provides management and administrative services to the Company's principal reporting segments described above.

The segment consists of unallocated corporate expenses and administrative costs and activities not considered when evaluating segment performance as well as certain assets benefiting more than one segment.

In addition, intersegment transactions are eliminated within the Corporate and Other segment.

• Additional Segment Information .

◦ To further extend our range of products in the various segments of our business, we sell a portion of our toy and game products to retailers on a direct import basis from the Far East.

These sales are reflected in the revenue of the related segment where the customer is geographically located.

These sales are reflected in the revenue of the related segment, to which the sale relates.

◦ Certain of our products are licensed to other companies for sale in selected countries where we do not otherwise have a direct business presence.

◦ For more financial information regarding our segments, please see note 21 to our consolidated financial statements, included in Part II, Item 8.

◦ For more financial and geographic information regarding our segments, please see note 21 to our consolidated financial statements, included in Part II, Item 8.

Financial Statements , of this Form 10-K.

• Fiscal 2021 Reportable Segments .

Given the evolution and reorganization of our company in recent years, including as a result of our acquisition of eOne, we plan to realign our reporting segment structure in 2021 to reflect how future operating results will be organized for decision-making purposes and for assessing the Company’s performance.

This realignment is expected to integrate the eOne segment and certain legacy Hasbro segments into a new reporting segment structure.

However, in 2020, management views eOne’s operations separately from the Hasbro’s legacy business.

Working Capital Requirements;

Our working capital needs are financed through cash generated from operations, primarily through the sale of toys and games and secondarily through our consumer products licensing and entertainment operations, and, when necessary, proceeds from short-term borrowings.

Our customer order patterns may vary from year to year largely due to fluctuations in the degree of consumer acceptance of product lines, product availability, marketing strategies and inventory policies of retailers, the dates of theatrical releases of major motion pictures for which we offer products, and changes in overall economic conditions.

A disproportionate volume of our net revenues has historically been earned during the third and fourth quarters leading up to the retail industry’s holiday selling season, including Christmas.

As a result, comparisons of unshipped orders on any date with those at the same date in the prior year are not necessarily indicative of our sales for that year.

Our working capital needs are financed through available cash and cash generated from operations, primarily through the sale of toys and games and secondarily through our consumer products licensing and entertainment operations, and, when necessary, by issuing commercial paper or borrowing under our revolving credit agreement.

In the event the Company is not able to issue commercial paper, we intend to utilize our available lines of credit.

In addition, the Company’s Entertainment operating segment uses production financing to fund certain of its television and film productions which are typically arranged on an individual production basis by special purpose production subsidiaries.

Our customer order patterns may vary from year to year largely due to fluctuations in the degree of consumer acceptance of product lines, supply and product availability, marketing strategies and inventory policies of retailers, TV and film content releases, including the dates of theatrical releases of major motion pictures for which we offer products, and changes in overall economic conditions.

As a result, a disproportionate volume of our net revenues from our consumer products business has historically been earned during the third and fourth quarters leading up to the retail industry’s holiday selling season, including Christmas.

Moreover, quick response, or just-in-time, inventory management practices result in a significant proportion of orders being placed for immediate delivery.

Although the Company may receive orders from customers in advance, it is general industry practice that these orders are subject to amendment or cancellation by customers prior to shipment and, as such, the Company does not believe that these unshipped orders, at any given date, are necessarily indicative of future sales.

We expect retailers will continue to follow this strategy.

In 2020 and 2019, the second half of the year accounted for approximately 64% of full year revenues with the third and fourth quarters accounting for approximately 33% and 31%, respectively, of full year net revenues in both years.

In 2021 and 2020, the second half of the year accounted for approximately 62% and 65% of full year revenues, respectively, with the third and fourth quarters each accounting for approximately 31% of full year net revenues in 2021 and 33% and 32% of full year revenues in 2020.

Historically, we commit to the majority of our inventory production and advertising and marketing expenditures for a given year, prior to the peak fourth quarter retail selling season.

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The timing difference between expenses paid and revenues collected sometimes makes it necessary for us to borrow varying amounts during the year, however, we have had sufficient liquidity and capital resources throughout 2021 and 2020 and have not had to borrow under our revolving credit facility.

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Our entertainment business is also subject to seasonal variations based on the timing of film, television, streaming and digital content releases, which are often determined based on the timing of prime television seasons, certain geographic release dates and competition in the market.

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Much of this work is performed by our internal staff of designers, artists, model makers and engineers.

Development and related costs associated with Wizards of the Coast products are specifically allocated to that line of business, including significant investments in digital gaming, most notably, for the development of MAGIC:

THE GATHERING ARENA, the free-to-play online adaptation of the MAGIC:

THE GATHERING card game, launched in 2019 and additional games to be released in the coming years.

In addition to the design and development work performed by our own staff, we work with a number of independent toy and game designers, for whose designs and ideas we compete with other toy and game manufacturers.

Development and related costs associated with Wizards of the Coast products are specifically allocated to that line of business, including significant investments in tabletop gaming as well as digital gaming, most notably, for the development of Magic:

The Gathering Arena , the free-to-play adaptation of the MAGIC:

THE GATHERING card game available online and for Dungeons & Dragons:

Dark Alliance , launched for console play during the first half of 2021.

We also continue to invest in Wizards of the Coast tabletop and digital gaming initiatives planned for release in the coming years.

In addition to the design and development work performed by our own staff, we work with a number of independent toy and game designers, and compete for their designs and ideas with other toy and game manufacturers.

Rights to such designs and ideas, when acquired or licensed by us, are usually exclusive and the agreements require us to pay the designer a royalty on our net sales of the item.

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Royalties and Participations

We also produce an array of products under licenses based on our partners’ trademarks and copyrights for the names or likenesses of characters from movies, television shows and other entertainment media, or whose rights we compete with other toy and game manufacturers.

We refer to these products as Partner Brands.

We compete with other toy and game manufacturers for these licensed rights and we refer to our products produced under these arrangements as Partner Brands.

Licensing fees for these rights are generally paid as a royalty on our net sales of the item.

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In many instances, advance royalties and minimum guarantees are required by these license agreements.

Our royalty expense in any given year may also vary depending upon the timing of movie releases and other entertainment media.

Our royalty expense in any given year may vary depending upon product mix and the timing of movie releases and other entertainment media.

Our entertainment offerings also require us to pay royalties and participations to those involved in the creation of the content, such as producers, writers, directors and actors.

With the acquisition of eOne, those royalties and participations have become more significant.

Marketing and Sales, Customer Concentration and Advertising

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In addition to the global marketing function, our local selling entities employ sales and marketing functions responsible for local market activities and execution.

Our products are sold globally to a broad spectrum of customers, including chain stores, distributors, wholesalers, discount stores, drug stores, mail order houses, catalog stores, department stores and other traditional retailers, large and small, as well as ecommerce retailers and direct-to-customer through Hasbro PULSE, our fan-based ecommerce website.

Our products are sold globally to a broad spectrum of customers, including mass-market retailers, distributors, wholesalers, discount stores, drug stores, mail order houses, catalog stores, department stores and other traditional retailers, large and small, as well as ecommerce retailers and direct-to-customer through Hasbro PULSE, our fan-based ecommerce website.

Our own sales forces account for the majority of sales of our products with remaining sales generated by independent distributors who, for the most part, sell our products in areas of the world where we do not otherwise maintain a direct presence.

The majority of our sales are to large chain stores, distributors, e-retailers and wholesalers.

The majority of our product sales are to large chain stores, distributors, e-retailers and wholesalers.

Customer Concentration

During 2021, net revenues from our top five retail customers accounted for approximately 36% of our consolidated global net revenues, including our largest customers, Wal-Mart Stores, Inc., Amazon.com and Target Corporation, who represented 13%, 11% and 8%, respectively, of consolidated global net revenues.

In 2020, ecommerce sales

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represented a significant portion of overall sales to these customers as consumers increasingly purchased our products online as compared to in-store shopping due to the shutdown and limited access to retail stores during the COVID-19 pandemic.

Due to our supply chain and logistics investments in recent years, we were better positioned to handle the increasing amount of ecommerce sales resulting from customers’ changing shopping patterns due to the COVID-19 pandemic.

and Canada segment, approximately 59% of our net revenues were derived from our top three customers.

Net revenues from the Company’s major customers are reported within the Consumer Products segment, Wizards of the Coast & Digital Gaming segment and the Entertainment segment.

In 2020, ecommerce sales represented a significant portion of overall sales to these customers as consumers increasingly purchased our products online as compared to in-store shopping due to the shutdown and limited access to retail stores during the COVID-19 pandemic and we saw this trend continue throughout 2021 as compared to pre-pandemic levels.

Please see Part I, Item 1A.

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As described earlier, the Hasbro Brand Blueprint strategy includes focusing on reinforcing storylines associated with our brands through several mediums, including television, film, digital gaming and live action experiences.

Our brands obtain marketing and advertising support through entertainment appearing on major networks globally as well as on various other digital platforms, such as Netflix.

In addition, through the leadership of eOne, our brands are supported through animated and live action theatrical releases.

The creative talent at eOne will help activate and re-ignite our brands, including brands from our vault, by leading the creation of branded-content.

The most current example of this is the MY LITTLE PONY animated film produced by the eOne Family Brands team, which is expected to be released in late 2021.

Our brands obtain marketing and advertising support through entertainment appearing on major networks globally, theatrical releases as well as on various other digital platforms, such as Netflix and Apple TV.

Through our independent studio we are able to cultivate branded-content and activate and re-ignite our brands, including brands from our vault.

The most recent example of this was the September 2021 release of the MY LITTLE PONY:

A NEW GENERATION animated film produced by eOne, and launched on Netflix globally.

Many of our new toy and game products are introduced to major customers within one to two years leading up to their year of retail introduction.

We have historically showcased certain new products through international toy shows, including New York City, Hong Kong and Nuremburg, Germany.

The toy fairs we have attended in the past were either canceled or postponed for 2021 due to the pandemic.

We have historically showcased certain new products through international toy shows, including New York City, Hong Kong and Nuremburg, Germany, though with the pandemic our participation in these shows in 2021 was mostly virtual, which is planned to continue in 2022.

Our advertising expenditures are impacted by our product mix in any given year.

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Manufacturing and Supply Chain

During 2020, the majority of our products were manufactured in third party facilities in the Far East, primarily China, India and Vietnam, as well as in two of our previously owned facilities now operated by Cartamundi, which are located in East Longmeadow, Massachusetts and Waterford, Ireland.

Cartamundi continues to manufacture significant quantities of game products for us under a multi-year manufacturing agreement.

We are continuing our efforts to diversify our global sourcing mix and decrease our dependence on Chinese manufacturing by increasing production of our products in other countries, including India and Vietnam.

During 2021, the majority of our products were manufactured in third-party facilities in the Far East, primarily China, Vietnam and India, using a Hong Kong based wholly-owned subsidiary operation for quality control and order coordination purposes.

Within the U.S.

and Ireland, we utilize two previously owned facilities now operated by Cartamundi, which are located in East Longmeadow, Massachusetts and Waterford, Ireland, to manufacture significant quantities of Hasbro game products under a multi-year manufacturing agreement.

We have diversified our global sourcing mix and decreased our dependence on Chinese manufacturing by increasing production of our products in other countries, including Vietnam and India.

As of December 26, 2021, 48% of third-party product manufacturing was sourced outside of China.

Certain eOne products, such as products relating to PEPPA PIG and PJ MASKS, are currently managed and distributed through third-party licensing agents.

Beginning in second half 2021, we plan to in-source production, distribution and licensing of certain toy and game products associated with these acquired brands.

During the first part of 2020, we faced manufacturing challenges where operations were either shut down for a period of time due to the COVID-19 pandemic or were operating at limited capacity.

Fortunately, during that period, our supply needs were at a lower point of the seasonality of our sales, which are more heavily weighted to the third and fourth quarter of the year.

At this time, we believe the manufacturing capacity of our third-party manufacturers, as well as the supply of components, accessories and completed products which we purchase from unaffiliated manufacturers, are adequate to meet the anticipated demand in 2021 for our products.

However, if we or our suppliers suffer prolonged manufacturing disruptions due to public health conditions, such as the coronavirus, manufacturing capacity of our third-party manufacturers as well as supply of components, accessories and our products may be adversely impacted.

Beginning in early 2020 with the onset of the COVID-19 pandemic, and continuing throughout 2021, we experienced disruptions to supply of our products due to closures of third-party manufacturing facilities across several geographies, primarily in early 2020, or reductions in manufacturing facility operations across multiple geographies throughout 2020 and 2021.

Additionally, we have experienced difficulties in shipping and distributing certain products due to the ongoing global port capacity, shipping container and truck transportation shortages.

These challenges have at times caused delays in the availability of products, which in some instances have led to delayed sales and in certain isolated cases, lost sales.

These and other disruptions are expected to continue into 2022.

However, despite these adverse manufacturing and supply chain conditions, at this time, we believe the manufacturing capacity of our third-party manufacturers, as well as the supply of components, accessories and

completed products which we purchase from unaffiliated manufacturers, are adequate to meet the anticipated demand in 2022 for our products.

Additionally, during 2021 in response to global supply chain disruptions, we have expanded shipping capacity, activated alternate ports in China and the U.S.

and we have prioritized supply based on inventory and customer needs, including the utilization of air freight when needed.

However, if global supply chain challenges do not improve or worsen, or we or our suppliers suffer prolonged manufacturing disruptions due to public health conditions, such as the coronavirus, manufacturing capacity of our third-party manufacturers as well as supply of components, accessories and our products may be adversely impacted.

See Part I, Item 1A.

Risk Factors , of this Form 10-K for further information.

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Most of our toys and games are manufactured from basic raw materials such as plastic, paper and cardboard, although certain products also use electronic components.

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We compete with several large toy and game companies in our product categories, as well as with many smaller United States and international toy and game designers, manufacturers and marketers.

In certain instances, we also compete with large retailers, who offer such products under their own private labels, often at lower prices.

In addition, we compete with digital gaming developers, who focus primarily on digital gaming products.

We also compete with other companies that offer TV and film content and branded entertainment specific to children and their families.

Given the ease of entry into our business we view our primary competition as coming from content providers and toy and game companies who are creating entertainment experiences that compete with our brand-driven storytelling and product experiences for consumer attention and spending.

Given the ease of entry into our business we view our primary competition as coming from content providers, digital gaming providers and toy and game companies who are creating entertainment experiences that compete with our brand-driven storytelling and product experiences for consumer attention and spending.

Businesses that create compelling content can readily translate that content into a full range of product offerings.

Competition is based primarily on meeting consumer entertainment preferences and on the quality and play value of our products and experiences.

Competition is based primarily on meeting consumer preferences and on the quality and play value of our products and experiences.

To a lesser extent, competition is also based on product pricing.

Our entertainment business competes with other companies that produce and distribute films, television programs and other entertainment content.

For example, eOne, as an independent distributor and producer, competes with other major U.S.

and international studios that typically release a large number of films annually and command a significant share of box office and streaming revenues and television airtime, as well as other independent film and television production or distribution companies.

For example, eOne, as an independent distributor and content producer, competes with other major U.S.

and international studios that historically have released a large number of films annually and command a significant share of box office and streaming revenues and television airtime, as well as other independent film and television production or distribution companies.

Many of the major U.S.

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In addition to contending with competition from other toy and game and entertainment and storytelling companies, we contend with the phenomenon that children are increasingly sophisticated and have been moving away from traditional toys and games.

The variety of digital gaming and digital entertainment offerings available for children has expanded and product life cycles of traditional toys and games have shortened as children move on to more sophisticated offerings at earlier ages.

The variety of digital gaming and digital entertainment offerings available for children has expanded while product life cycles of traditional toys and games have shortened as children move on to more sophisticated offerings at earlier ages.

As a result, our products not only compete with those offerings produced by other toy and game manufacturers and companies offering branded family play and entertainment, we also compete, particularly in meeting the demands of older children, with entertainment offerings of many technology companies, such as makers of tablets, mobile devices, video games and other digital gaming products and screens, and social media companies.

The changing trends in consumer preferences with respect to entertainment and low barriers to entry as well as the emergence of new technologies and different mediums for viewing content, such as streaming, continually creates new opportunities for existing competitors and start-ups to develop products and offerings that compete with our entertainment and toy and game offerings.

Corporate Social Responsibility (CSR)

At Hasbro, we understand that doing well includes doing good in the world and for all our constituents.

Environmental, Social, and Corporate Governance (ESG) has gone from being an important consideration in our business strategy to being a central focus, integral to our success.

The priority ESG areas where we are deeply invested in tackling are ethical sourcing, environmental sustainability, product safety and culture & human capital.

Each of these areas has a wider aperture in today’s world and within our current business.

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Business Leadership During Covid-19

For Hasbro, the Covid-19 pandemic focused our attention and resources on the health, safety and well-being of our employees, supply chains and communities around the world.

At the same time, we continued to make meaningful progress across all of our CSR priority areas, including Environmental Responsibility, Product & Content Safety, Human Rights & Ethical Sourcing and Culture & Human Capital Management, including Diversity & Inclusion.

The changing trends in consumer preferences with respect to entertainment and low barriers to entry as well as the emergence of new technologies and different mediums for viewing content, such as the growing number of streaming platform options, continually creates new opportunities for existing competitors and start-ups to develop products and offerings that compete with our entertainment and toy and game offerings.

Environment, Social and Governance (ESG) Performance

At Hasbro, we believe strong Environment, Social, and Governance (ESG) performance drives long-term value creation for all our stakeholders.

Our ESG priorities include climate and sustainability, ethical sourcing and human rights, culture, and human capital management, including Diversity, Equity & Inclusion (DEI), and product and content safety.

The governance of ESG starts with our Board of Directors (Board), with specific oversight by our Nominating, Governance, and Social Responsibility Committee of the Board (Governance Committee).

ESG topics, including DEI, climate, and human rights, are regular agenda items at the Governance Committee.

Additionally, the Audit Committee of our Board oversees SEC and public disclosures in specific areas like conflict minerals, climate risk, and enterprise risk.

The full Board receives regular updates regarding our ESG progress.

In addition to Board-level governance, our CEO and the senior management team regularly review our ESG performance, progress and opportunities.

The Chief Purpose Officer, who reports to the CEO and is a member of senior management, is responsible for setting the strategic direction for our global ESG strategy and performance, and ensures the integration of ESG throughout the global organization and supply chain.

Building on Our Success and Reaching New Heights

We continue to build and execute innovative, best-in-class CSR & ESG strategies and programs that resonate with our stakeholders and serve Hasbro’s purpose to make the world a better place for all children, fans and families.

Below are some of the highlights from 2019 and 2020:

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Some of our recent accolades in the CSR area include:

• 2021 World’s Most Ethical Companies (Ethisphere) – 10th consecutive year on list

• 2021 America’s Most Just Companies, ranked #1 in Household Goods & Apparel category

• 2020 100 Best Corporate Citizens by 3BL Media – 9th consecutive year on the list

• 2020 America’s Most Responsible Companies (Newsweek) – #46/300

• In 2020, Hasbro’s first-in-the-industry Toy Recycling program won the Gold Play for Change Award in the Environmental Sustainability category at the Toy Industries of Europe (TIE) Play for Change Awards

• 100 percent on the Human Rights Campaign’s (HRC’s) 2020 Corporate Equality Index, noting Hasbro is one of America’s top companies for LGBTQ+ Workplace Equality

• 2020 Walmart Project Gigaton “Giga-Guru”

• 2019 100 Best Companies for Working Mothers from Working Mother Magazine and one of the magazine’s 2020 100 Best Companies for Dads

• 2019 Most Reputable U.S.

Companies (Reputation Institute) – #7/390

• In 2019, Hasbro rated highest in the Travel and Leisure Category by the Responsible Sourcing Network and in the top six percent of companies reporting for our work addressing conflict minerals in the supply chain

• 2019 50 Best ESG Companies (Investor’s Business Daily) – #9

• 2019 Top 100 Sustainable Companies (Barron’s) – #32

• Points of Light Foundation Civic 50 – Recognizing the “Most Community Minded Companies in the United States.” Hasbro has been named to the list every year since the initiative began in 2012

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ESG and Purpose are at the center of our Brand Blueprint and drive how we operate the business.

We continue to integrate ESG across the business and are proud of our innovative, best-in-class strategic initiatives that uphold our purpose and make a positive impact for our stakeholders.

Below are some of the highlights from 2021:

Some of our accolades in the ESG area include:

Key Areas of Focus

In addition to our efforts on human capital management described below, some key areas of focus for us include the critical importance of environmental responsibility, human rights and ethical sourcing.

• Environmental Responsibility .

• Climate and Sustainability :

We recognize the impact our business can have on the environment and are working to reduce our footprint.

We view sustainability challenges as opportunities to innovate and to continuously improve our product design and operational efficiencies.

The long-term viability and health of our own operations and our supply chain, and the significant potential for environmental improvements, are critical to our business success.

Climate change and its risks are issues we continue to monitor and manage.

In addition to initiatives to reduce our energy consumption and improve energy efficiency, we support projects that increase the generation of renewable energy in the marketplace.

We continued to meet our renewable energy goal, reaching virtually 100 percent (99.7%) in our owned and operated facilities.

To address the greenhouse gases generated by electricity consumption, Hasbro purchases Renewable Energy Certificates (RECs) which support the production of renewable energy such as wind, solar, thermal and similar renewable sources, at levels equal to what we use from the public grid.

These RECs are bought in and applied to the markets where the energy is used by Hasbro facilities across the globe.

We believe the long-term viability and health of our own operations and our supply chain, and the significant potential for environmental improvements, are key components to our business success.

Reducing our Carbon Footprint and Setting Science-Based Targets :

We are proud to be taking action on climate.

In 2019, we began a comprehensive measurement of our supply chain footprint, with 100% of our suppliers participating.

We are now in the process of setting science-based targets for our greenhouse gas emission reductions with a near-term 2030 goal, based on limiting emissions to keep warming below 1.5°C above pre-industrial levels, and a long-term 2050 goal, based on net-zero emissions across our value chain.

In addition to taking action to reduce our energy consumption and improve energy efficiency, we support initiatives to increase the generation of renewable energy in the marketplace.

We continue to meet our renewable energy goal, matching virtually 100 percent (99.6%) of the energy used in our owned and operated facilities with investments in renewable energy.

To address the greenhouse gases generated by electricity consumption, we purchase Renewable Energy Certificates (RECs) which support the production of renewable energy such as wind, solar, thermal, and similar renewable sources, at levels equal to what we use from the public grid.

These RECs are bought in and applied to the markets where the energy is used by our facilities across the globe.

We purchase carbon offsets to address the remaining GHG emissions generated by the use of gas and liquid fuel at our leased and owned facilities, company vehicles, all employee business air travel and the remaining small amount (0.4%) of emissions generated by electricity consumption at our facilities in markets where RECs are not available.

We have also begun to evaluate the climate impacts of our supply chain.

In 2019, we began a comprehensive measurement of our supply chain footprint, with virtually 100% of our suppliers participating.

Our next step will be to set reduction goals for our suppliers.

Hasbro is also currently evaluating the possibility of setting a net zero emissions goal and incorporating corresponding science-based targets.

Other key goals and objectives in this area include:

• Eliminating virtually all plastic in packaging for new products by the end of 2022.

◦ Expanding our industry-first toy recycling program, in partnership with TerraCycle (a leader in product recycling outside of municipal recycling), from the U.S., France, Germany, Brazil, Canada, and the U.K.

to additional markets in the European Union.

◦ Achieving on an annual basis 100% renewable energy use across owned/operated facilities.

◦ Reducing energy consumption by 25%, greenhouse gas emissions by 20%, waste to landfill by 59%, and water consumption by 15%, by the end of 2025.

• Expanding our industry-first toy recycling program (currently in 12 countries) in partnership with TerraCycle, a leader in product recycling outside of municipal recycling.

• Reducing energy consumption by 25%, greenhouse gas emissions by 20%, waste to landfill by 50%, and water consumption by 15%, by the end of 2025 for our owned/operated facilities.

• Climate Risk and Resilience;

Managing the resilience of our business to the risks of climate change, including severe weather events, is also a priority.

We are working to further integrate climate risk and resilience into our overall enterprise risk management process, including our plans to use the Task Force on Climate-related Financial Disclosures (TCFD) framework.

• Human Rights and Ethical Sourcing:

Our Human Rights & Ethical Sourcing program, first launched in 1993, is dedicated to ensuring that facilities involved in the production of our toys and games or licensed consumer products comply with Hasbro’s Global Business Ethics Principles.

The program is designed to provide fair and safe working conditions;

treat all workers with fairness, dignity and respect;

and engage with our suppliers to address safety, health and the environmental impacts of our supply chain.

While working on these issues with partners, suppliers, third-party factories and licensees is complex, we remain vigilant in our commitment to ensure workers in our supply chain are treated in accordance with applicable laws and our high ethical standards.

Our Human Rights and Ethical Sourcing program, first launched in 1993, is dedicated to ensuring that facilities involved in the production of our toys and games, or licensed consumer products, comply with Hasbro’s Global Business Ethics Principles.

The program is designed to ensure fair and safe working conditions;

fairness, dignity, and respect for workers;

and robust supplier engagement to ensure strong safety, health and environmental performance.

While working on these issues with partners, suppliers, third-party factories, and licensees is complex, we remain vigilant in our commitment to ensure workers in our supply chain are treated in accordance with our high ethical standards and applicable laws.

Key goals and objectives in this area include:

◦ On an annual basis, achieve 100% social compliance audit rate for all third-party vendor and major sub-contractor facilities, as well as 100% follow-up audit rate for all facilities with pending remediation issues.

◦ Requiring third-party factories to participate and complete the Hasbro Ethical Sourcing Academy, a 30-hour, e-learning social compliance course, which trains and reinforces Hasbro’s rigorous ethical sourcing requirements.

• On an annual basis, achieve 100% social compliance audit rate for all third-party vendor and major sub-contractor facilities (Facilities), as well as 100% follow-up audit rate for all Facilities with pending remediation issues.

• Requiring 100% of Facilities to participate and complete the Hasbro Ethical Sourcing Academy, a 30-hour, e-learning social compliance course, which trains and reinforces Hasbro’s rigorous ethical sourcing requirements.

This mandatory online training is in addition to monthly in-person vendor workshops that the Hasbro Ethical Sourcing team hosts in our sourcing office locations around the world.

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◦ Empowering female factory workers through our Worker Well-Being program through training on life-enhancing skills and knowledge such as nutrition, reproductive health, problem solving and financial literacy.

• Empowering female factory workers through our Worker Well-Being program, which provides life-enhancing skills training and knowledge on topics from nutrition and reproductive health to problem solving and financial literacy.

Human Capital Management

Our key human capital management objectives are to attract, develop and retain a talented diverse workforce.

The experience, dedication and diverse backgrounds of our employees are at the heart of our success, energizing everything we do, from developing innovative products to creating immersive entertainment experiences.

Working together, we seek to create a culture of Community, Creativity, Inclusion, Integrity and Passion in which everyone feels valued and empowered to deliver their best every day.

As our organization continues to grow and evolve, we remain steadfast in our ambition to provide a supportive and inclusive community that is the best place our employees ever work.

As of December 27, 2020, we employed 6,822 people worldwide, with approximately 50% of our employees in the North America (41% in the United States), 27% in Europe, and 17% in Asia Pacific.

As of fiscal year end, approximately 55% of our global workforce was female, 42% of our employees in managerial roles (meaning director level and above) were female, and minorities represented approximately 19% of the Company's U.S.

workforce, of which 10% of our U.S.

employees in managerial roles were minorities.

Approximately 10% of our employees are covered by unions or collective bargaining agreements.

Our governance of human capital starts with our board of directors.

The Nominating, Governance and Social Responsibility Committee of the Board of Directors oversees the Company policies and practices with respect to significant issues of corporate social responsibility, including aspects of human capital management, such as diversity and inclusion.

The Compensation Committee of our Board of Directors oversees our compensation programs.

For corporate social responsibility objectives, our chairman and CEO chairs an internal executive CSR Committee, comprised of senior management and leadership, that sets the strategic direction for CSR policies and initiatives, and ensures their integration throughout the entire global organization.

Our corporate CSR team, led by our Chief Purpose Officer, works cross-functionally to develop and implement strategic initiatives across our company and advise on key issues.

Additionally, our Chief Human Resources Officer ("CHRO"), is responsible for developing and executing key aspects of our human capital strategy, including the attraction, acquisition, development and engagement of talent to deliver on the Company’s strategy and the design of competitive compensation and employee benefit programs.

Our key human capital management objectives for our direct workforce are to attract, develop and retain diverse talent.

Working together, we seek to create a culture that embraces our values of Community, Creativity, Inclusion, Integrity and Passion.

We also believe that when everyone feels valued, they feel empowered to deliver their best every day.

As our organization continues to grow and evolve, we remain steadfast in our ambition to provide a supportive and inclusive community that is the best place our employees have ever worked.

Our governance of human capital falls within the governance structure for ESG overall.

The Governance Committee of the Board oversees the company’s human capital policies and practices, including the company’s approach to promoting diversity, equity and inclusion in the workplace.

The Compensation Committee of the Board oversees our compensation programs.

Our Chief Human Resources Officer ("CHRO") is responsible for developing and executing key aspects of our human capital strategy, including the attraction, acquisition, development, and engagement of talent to deliver on the Company’s strategy and the design of competitive compensation and employee benefit programs.

Our Chief Purpose Officer (CPO) is responsible for developing and executing our strategy for human rights and ethical sourcing programs for the workers across our supply and value chain.

Our CPO and CHRO sit on our internal DEI Steering Committee, a committee comprised of global management leaders from various parts of the business.

The DEI Steering Committee is responsible for setting the DEI strategy, and our Senior Vice President of DEI is responsible for executing the strategy.

As of December 26, 2021, we employed 6,640 people worldwide, with approximately 51% of our employees in North America (42% in the United States;

9% in Canada), 24% in Europe, 18% in Asia Pacific, and 7% in Latin America (includes Mexico).

As of fiscal year end, approximately 55% of our global workforce was female, 46% of our employees in managerial roles (director level and above) were female, and minorities represented approximately 22% of the Company's U.S.

workforce, of which 14% were in managerial roles.

workforce, we also disclose our diversity by job type (based on the EEO-1 filing), which is available on our CSR website.

The contents of our CSR website are not incorporated herein.

Approximately 6% of our employees globally are covered by unions or collective bargaining agreements.

Key Areas of Focus:

• Diversity and Inclusion (D&I).

• Diversity, Equity, and Inclusion .

We believe that the more inclusive we are as a company, the more effective our employees will be and the stronger our business will perform.

Hasbro views D&I as a strategic CSR priority that is linked to the future success of our business and the growth of our brands.

In 2018, our Chairman and CEO, Brian Goldner, along with 800 other CEOs, signed on to the CEO Action for Diversity and Inclusion pledge, developed by the accounting firm PwC, to publicly affirm Hasbro’s commitment to D&I as a fundamental value and corporate priority.

A summary of some of the significant steps we have taken to further build a culture of D&I within our organization include:

◦ Establishing a D&I function responsible for D&I programs and initiatives, talent acquisition and employee engagement.

◦ Holding numerous meetings with employees across the U.S., outlining the business case for D&I.

◦ Launching a Global Diversity, Inclusion and Belonging program to discuss employee experiences and concerns in the after-math of social unrest.

Hasbro views DEI as a strategic ESG priority that is linked to the future success of our business and the growth of our brands.

In 2018, our former Chairman and CEO, Brian Goldner, along with 800 other CEOs, signed on to the CEO Action for Diversity and Inclusion pledge, developed by the accounting firm PwC, to publicly affirm Hasbro’s commitment to DEI as a fundamental value and corporate priority.

A summary of some of the significant steps we have taken to further build a culture of DEI within our organization include:

◦ Establishing a DEI function responsible for DEI programs and initiatives, talent acquisition and employee engagement.

◦ Holding numerous meetings with employees across the U.S., outlining the business case for DEI.

◦ Launching a Global Diversity, Inclusion and Belonging program to discuss employee experiences and concerns in the aftermath of social unrest.

◦ Implementing unconscious bias training to help acknowledge subtle biases, which impact employee and management behavior, from hiring to project team selections and people management.

◦ Setting aggressive D&I goals for the organization that include:

▪ Increasing the percentage of women in director and above roles globally to 50% by 2025;

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◦ Setting ambitious DEI goals for the organization:

▪ Increasing female representation in management (Director +) roles globally to 50% by 2025;

▪ Expanding ethnically and racially diverse employee representation in the U.S.

to 25% by 2025;

▪ Including a 50% diverse slate of candidates for all open U.S.

positions where there is underrepresentation.

▪ Targeting a 50% diverse slate of candidates when recruiting for open U.S.

positions where there is ethnic and minority underrepresentation.

• Employee Engagement .

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We regularly review salary ratios for men and women in similar roles to help maintain internal equity and market competitiveness across the globe, including among managers.

We review both industry and local market data at least annually to identify trends and market gaps in order to maintain the competitiveness of our compensation and employee benefit programs.

We review both industry and local market data at least annually to identify trends and market gaps to maintain the competitiveness of our compensation and employee benefit programs.

When designing our compensation and employee benefit programs, we also look beyond the fundamentals of these important components and consider the bigger picture of how these programs contribute to the overall employee experience.

We also realize that employee health and wellness is an important area to be well managed.

We support our colleagues’ wellbeing, which includes mental, physical and financial wellness, through a number of programs, including:

Employee health, safety and wellness are top priorities at Hasbro.

We support our colleagues’ well-being, which includes mental, physical, and financial wellness, through a number of programs, including:

◦ Employee Wellness & Happiness Teams organized in our major offices that offer wellness programs.

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◦ Financial wellness resources offered by third-party vendors with whom we work that can assist our employees with retirement and other financial planning services.

2020 marked an enormous test of our organization’s resilience, which included adapting to the significant shift to remote working due to the COVID-19 pandemic.

In 2021, our organization continued to showcase great resilience, with most of our workforce continuing to work remotely due to the COVID-19 pandemic.

As part of our ongoing commitment to supporting our diverse and geographically dispersed employee population, we issued regular and frequent communications to ensure the health, safety and, welfare of our employees.

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In the U.S., we adopted changes to certain employee benefit plans that were authorized by legislation enacted as a result of COVID-19 to allow greater flexibility and broader coverage to our employees in the event they were negatively impacted by COVID-19.

Our employees’ health, safety and well-being during the pandemic is our top priority.

Our employees’ health, safety and well-being during the pandemic has been a top priority.

• Training and Talent Development .

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Strategic talent reviews and succession planning occur on a planned cadence annually – globally and across all business areas.

The CEO and CHRO convene meetings with senior company leadership and the Board of Directors to review top company talent.

The Company provides opportunities for the Company's internal

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employees to grow their careers.

The CEO and CHRO convene meetings with senior company leadership and the Board to review top company talent.

We provide opportunities for our employees to grow their careers.

We have programs and training to help develop our employees, such as the Hasbro Management Academy, a global program for managers that identifies and describes what it takes to be an effective leader at Hasbro.

We invest in the development of our employees by providing both in-house training and opportunities to participate in third party programs, including both specialized training and broader academic pursuits.

The power of service is core to our employee culture.

Employees have the benefit of taking four hours of paid time off every month to volunteer with programs and organizations that benefit children.

In addition, team-building company-sponsored volunteer projects are organized throughout the year allowing groups of employees to make a meaningful difference in the community through service.

These programs include our Global Day of Joy, Hasbro’s annual company-wide day of service.

Every year in December, employees from each Hasbro office around the world participate in service projects to benefit child-focused organizations.

In 2020, approximately 5,200 employees around the world completed more than 14,000 service hours to make a difference for more than 100,000 children.

We invest in the development of our employees by providing in-house training and opportunities to participate in third-party programs, including specialized training as well as broader academic pursuits.

• Community Service .

The power of service is core to our culture.

We cultivate this culture of community and volunteerism by offering our employees four hours of paid time off every month to volunteer with programs and organizations benefiting children, DEI, environmental stewardship, and other important causes.

In addition, team-building company-sponsored volunteer projects are organized throughout the year providing large groups of employees the opportunity to make a meaningful difference in their communities.

Our Global Day of Joy is Hasbro’s annual, company-wide day of service and has become a cherished company tradition.

The annual tradition takes place every December, and employees from each Hasbro office around the world participate in service projects to benefit child-focused organizations.

Finally, in 2021, we also began offering skills-based volunteer opportunities to encourage our employees with specific skills, talents, and professions to donate their time to organizations and communities in need, pro bono.

Overall, in 2021, 92% of eligible employees around the world completed more than 250 service projects to positively impact the lives of more than 100,000 children.

Trademarks, Copyrights and Patents

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The Children’s Television Act of 1990 and the rules and regulations of the United States Federal Communications Commission, the rules and regulations of the Federal Trade Commission, as well as the laws of certain other countries, also place limitations on television commercials during children’s programming and on advertising in other forms to children, and on the collection of information from children, such as restrictions on collecting information from children under the age of thirteen subject to the provisions of the Children’s Online Privacy Protection Act.

In addition to laws restricting the collection of information from children, our business is subject to other regulations, such as the General Data Protection Regulation which became effective in the European Union in May 2018, which restricts the collection, use, and retention of personal information.

Failure to comply with any of those restrictions can subject us to severe liabilities.

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To continue to avail ourselves of these benefits, we plan to comply with applicable regulations and directives of the Investment Canada Act and the Minister of Canadian Heritage.

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Our Executive Officers

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Name Age Position and Office Held Period

Goldner(1) 57 Chairman of the Board and Chief Executive Officer Since 2017

Frascotti(2) 60 President and Chief Operating Officer Since 2018

Darren Throop(3) 56 Chief Executive Officer, Entertainment One Since 2020

Thomas(4) 57 Executive Vice President and Chief Financial Officer Since 2013

Tom Courtney(5) 60 Executive Vice President, Chief Global Operations Officer Since 2017

Michael Hogg(6) 66 Executive Vice President and Chief Commercial Officer Since 2020

58 Interim Chief Executive Officer Since 2021

58 Executive Vice President and Chief Financial Officer Since 2013

Christian Cocks (3)

48 President and Chief Operating Officer, Wizards of the Coast & Digital Gaming Since 2016

Eric Nyman (4)

49 Chief Consumer Officer and Chief Operating Officer, Hasbro Consumer Products Since 2021

Darren Throop (5)

57 Chief Executive Officer, Entertainment One Since 2020

Tom Courtney (6)

61 Executive Vice President, Chief Global Operations Officer Since 2017

Michael Hogg (7)

67 Executive Vice President and Chief Commercial Officer Since 2020

Dolph Johnson 63 Executive Vice President and Chief Human Resources Officer Since 2012

Tarrant Sibley(7) 52 Executive Vice President and Chief Legal Officer and Secretary Since 2019

(1) Prior thereto, Chairman of the Board, President and Chief Executive Officer from 2015 to 2017;

prior thereto, President and Chief Executive Officer from 2008 to 2015.

(2) Prior thereto, President from 2017 to 2018;

President Hasbro Brands from 2014 to 2017;

Executive Vice President and Chief Marketing Officer from 2013 to 2014;

and Senior Vice President and Global Chief Marketing Officer from 2008 to 2013.

Frascotti will be retiring from Hasbro at the end of March 2021.

Tarrant Sibley (8)

53 Executive Vice President and Chief Legal Officer and Secretary Since 2019

*Effective Feb 25, 2022, Christian Cocks has been appointed as CEO and a Director, Eric Nyman has been appointed as President and Chief Operating Officer, and Rich Stoddart will no longer serve as interim CEO and will become Chair of the Board.

Stoddart was appointed to serve as interim CEO in October 2021;

Stoddart, most recently the Lead Independent Director of the Board, was appointed to the Company's Board in 2014.

Stoddart was President and Chief Executive Officer of InnerWorkings, Inc., from 2018 to 2020;

prior thereto, Chief Executive Officer of Leo Burnett Worldwide from February 2017 to 2018, the Chief Executive Officer of Leo Burnett North America from 2013 to 2017 and the President of Leo Burnett North America from 2005 to 2013.

(2) Prior thereto, Senior Vice President and Chief Financial Officer from 2009 to 2013.

(3) Effective February 25, 2022, Mr.

Cocks will become Chief Executive Officer of Hasbro.

(4) Effective February 25, 2022, Mr.

Nyman will become President and Chief Operating Officer of Hasbro.

Prior thereto, he served as Chief Consumer Officer and Chief Operating Officer of Hasbro Consumer Products from 2021-2022, Chief Consumer Officer from 2020-2021, President, North America Sales and Marketing from 2018-2020, President US Sales Marketing from 2016-2020, and President-Canada from 2015-2016.

Throop was appointed an executive officer of Hasbro in February 2020.

He has served as Chief Executive Officer of eOne since 2003.

(4) Prior thereto, Senior Vice President and Chief Financial Officer from 2009 to 2013.

(6) Prior thereto, Senior Vice President and General Manager, Global Operations, from 2012 to 2017.

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Our internet address is http://www.hasbro.com.

We make our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, available free of charge on or through our website as soon as reasonably practicable after we electronically file such material with, or furnish it to, the Securities and Exchange Commission.

We make our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, available free of charge on or through the investor section of our website as soon as reasonably practicable after we electronically file such material with, or furnish it to, the Securities and Exchange Commission.

Investors and others should note that we announce material financial information to our investors using our investor relations website at www.hasbro.com, under “Corporate — Investors”, SEC filings, press releases, public conference calls and webcasts.

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Further corporate governance information, including our articles of incorporation, bylaws, governance guidelines, committee charters, and code of business conduct and ethics, is also available on our investor relations website https://hasbro.gcs-web.com, under “Corporate — Investors — Corporate Governance.” The contents of our website are not intended to be incorporated by reference into this Form 10-K or in any other report or document we file with the SEC, and any references to our websites are intended to be inactive textual references only.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business