<SEC-DOCUMENT>0001214659-24-007465.txt : 20240424
<SEC-HEADER>0001214659-24-007465.hdr.sgml : 20240424
<ACCEPTANCE-DATETIME>20240424162909
ACCESSION NUMBER:		0001214659-24-007465
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240424
DATE AS OF CHANGE:		20240424
EFFECTIVENESS DATE:		20240424

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BOEING CO
		CENTRAL INDEX KEY:			0000012927
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT [3721]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				910425694
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-00442
		FILM NUMBER:		24870969

	BUSINESS ADDRESS:	
		STREET 1:		929 LONG BRIDGE DRIVE
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22202
		BUSINESS PHONE:		7034146338

	MAIL ADDRESS:	
		STREET 1:		929 LONG BRIDGE DRIVE
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BOEING AIRPLANE CO
		DATE OF NAME CHANGE:	19730725

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AS YOU SOW
		CENTRAL INDEX KEY:			0001086462
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			CA

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		2150 KITTREDGE ST.
		STREET 2:		SUITE 450
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94704
		BUSINESS PHONE:		510-735-8155

	MAIL ADDRESS:	
		STREET 1:		2150 KITTREDGE ST.
		STREET 2:		SUITE 450
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94704
</SEC-HEADER>
<DOCUMENT>
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<FILENAME>o424243px14a6g.htm
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Notice of Exempt Solicitation Pursuant to Rule 14a-103</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Name of the Registrant: Boeing Co (BA)<BR>
Name of persons relying on exemption:&nbsp;As You Sow<sup>&reg;</sup><BR>
Address of persons relying on exemption: Main Post Office, P.O. Box 751, Berkeley, CA 94704</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Written materials are submitted pursuant to Rule 14a-6(g)(1) promulgated
under the Securities Exchange Act of 1934.&nbsp;Submission is not required of this filer under the terms of the Rule, but is made voluntarily
in the interest of public disclosure and consideration of these important issues.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Boeing Co (BA)<BR>
<FONT STYLE="font-size: 14pt">Vote Yes: Item #8 &#8211; Adoption of Value Chain Emission Reduction Target</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Annual Meeting: May 17, 2024 </B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONTACT: Diana Myers | dmyers@asyousow.org</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">THE RESOLUTION</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>RESOLVED: </B> Shareholders request that Boeing adopt a value chain
emission reduction target covering all non-de minimis emission categories in alignment with the Paris Agreement&#8217;s 1.5&deg;C goal,
requiring net zero emissions by 2050 or sooner.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SUPPORTING STATEMENT: </B>Proponents recommend, at Board discretion,
that the Company:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Disclose a timeline for setting 1.5&deg;C-aligned near-term emission reduction targets;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Disclose a timeline for setting long-term net zero goals including the full value chain;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Include an enterprise-wide climate transition plan to achieve emissions reduction goals across all relevant emission scopes;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Annually report progress towards meeting value chain emission reduction goals.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">SUMMARY</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">The Intergovernmental Panel on Climate
Change has concluded that immediate and significant emissions reductions are required of all market sectors to stave off the worst consequences
of climate change.<SUP>1</SUP> Investor demand for science-aligned emission reductions and transition planning reflects the reality that
climate-related risk exposure is growing.<SUP>2</SUP> Decarbonizing the aviation industry is a critical component of global decarbonization,
according to the International Energy Agency.<SUP>3</SUP></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>1</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.ipcc.ch/report/ar6/syr/downloads/report/IPCC_AR6_SYR_FullVolume.pdf</FONT><FONT STYLE="font-size: 9pt">,
p. 20</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>2</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.weforum.org/agenda/2023/10/climate-loss-and-damage-cost-16-million-per-hour/</FONT><FONT STYLE="font-size: 9pt">;
</FONT><FONT STYLE="font-size: 9pt">https://corpgov.law.harvard.edu/2023/01/30/eu-finalizes-esg-reporting-rules-with-international-impacts/</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>3</SUP></FONT> <FONT STYLE="font-size: 9pt">https://iea.blob.core.windows.net/assets/13dab083-08c3-4dfd-a887-42a3ebe533bc/NetZeroRoadmap_AGlobalPathwaytoKeepthe1.5CGoalinReach-2023Update.pdf</FONT><FONT STYLE="font-size: 9pt">,
p. 88</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Boeing Corporation | Adoption of Value Chain Emission Reduction Target</FONT></P>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Boeing, one of the largest aerospace and defense manufacturers, is
facing increasing demand for lower-emission technologies from its largest commercial and defense customers. Commercial airlines are under
global pressure to decarbonize air travel, driven by public expectations and regulatory measures. The U.S. Department of Defense and allies
acknowledge that climate change is a threat multiplier and that reducing dependence on fossil fuels is a critical military advantage.
Boeing&#8217;s ability to outpace competitors in anticipating and developing in-demand technologies is a key value driver.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Boeing must also be ready to meet emerging climate regulations as the
global drive to decarbonize spurs stricter emissions standards, fuel blend requirements, and growing use of carbon pricing. Adopting a
target to reduce full value-chain emissions now will ensure that the Company is in a position to meet stricter climate regulations and
take full advantage of transition-related opportunities.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Boeing has yet to set a target to reduce emissions from its value chain,
which constitutes 99% of the Company&#8217;s overall emissions. While Boeing has set an emissions reduction target for its operations,
this goal covers only 1% of the Company&#8217;s total emissions.<SUP>4</SUP> In contrast, other aerospace and defense companies are setting
targets and directing capital toward decarbonization. Boeing risks falling behind its peers such as Airbus, Honeywell, and Safran which
have already established Scope 1-3 emission reduction targets through the Science Based Targets initiative (SBTi).<SUP>5</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">By setting science-aligned emission reduction targets across its full
value chain and providing a transition plan, Boeing can mitigate climate risk across its business, better support customers with climate
targets, improve its competitiveness against peers, minimize transition costs, and position itself to maximize climate-related opportunities.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">RATIONALE FOR A YES
VOTE</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B>Boeing faces climate-related competitive, regulatory, and physical risks that will materially impact its business.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>Boeing does not disclose a plan or goal to reduce its full value chain emissions in alignment with the Paris Agreement's 1.5&deg;C
degree goal requiring Net Zero emissions by 2050.</B></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD><B>Boeing lags peers in addressing the impacts of its emissions. </B></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9.35pt; background-color: #B8CCE4">DISCUSSION</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B>Boeing faces climate-related competitive, regulatory, and physical risks that will materially impact its business.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Customer Expectations</I> - </B>Boeing&#8217;s major customers
are making significant decarbonization commitments and increasing demand for lower-emission technologies, products, and services to help
meet their targets. Boeing&#8217;s ability to anticipate and develop products and services that meet these demands is a key value driver.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>4</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.boeing.com/content/dam/boeing/boeingdotcom/principles/environment/pdf/Boeing_CDP_Climate_Response_Final.pdf</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>5</SUP></FONT> <FONT STYLE="font-size: 9pt">https://sciencebasedtargets.org/companies-taking-action</FONT></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Boeing Corporation | Adoption of Value Chain Emission Reduction Target</FONT></P>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">In 2023, over 40% of Boeing&#8217;s revenue was earned from its Commercial
Airplanes segment, while 37% of its revenue was earned from U.S. government contracts, primarily through the Department of Defense.<SUP>6</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Commercial airlines, including American Airlines, Delta Air Lines,
and JetBlue Airways, have set near-term emission reduction targets and require suppliers&#8217; support to assist them in achieving their
commitments.<SUP>7</SUP> Similarly, corporations are focused on reducing their emissions from business travel.<SUP>8</SUP> Forty-five
of the top 100 organizations that spend the most on business air travel have set public decarbonization commitments.<SUP>9</SUP> Reducing
emissions from business travel is an opportunity for Boeing to support the goals of commercial airline customers and their corporate clients.
As commercial airlines and corporate customers set emission reduction targets, Boeing&#8217;s ability to outpace competitors in anticipating
and developing low carbon technologies will be a key value driver.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">The U.S. government is similarly undertaking efforts to reduce emissions
associated with its procurement process<SUP>10</SUP>.<SUP>11</SUP> In 2021, the U.S. government launched a Buy Clean Task Force charged
with considering embodied emissions in federal procurement and federally funded projects.&#65532; While <FONT STYLE="color: #0D0D0D">initially
concentrating on construction materials, the scope is likely to broaden to include other emissions-intensive materials and products to
meet emission reduction objectives</FONT> The federal government is considering two additional procurement stipulations that could impact
Boeing and its customers:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The Federal Supplier Climate Risks and Resilience Rule would require large federal contractors to disclose Scope 1, 2, and 3 emissions
and set science-based emissions reductio<FONT STYLE="font-size: 9pt">n targets.<SUP>12</SUP></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The Sustainable Products and Services procurement rule would set requirements for federal buyers to prioritize sustainable products
and services.<SUP>13</SUP></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Boeing&#8217;s military customers are also taking action to manage
and reduce climate impact finding that climate change is a threat to global peace and security. In a recent white paper, Senior Pentagon
officials underscored the U.S. Defense Department&#8217;s view that &#8220;climate readiness is mission readiness,&#8221; and that climate
change can impact military training, mission execution, and national security.<SUP>14</SUP> NATO notes that more, a lesser logistical
burden and a smaller environmental footprint.&#8221;<SUP>15</SUP> The future of aerospace and defense requires decarbonization:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The U.S. Department of Defense has elevated climate change as a national security priority, with all major branches developing climate
action plans to reduce and mitigate emissions impacts.<SUP>16</SUP></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>6</SUP></FONT> <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/12927/000001292724000010/ba-20231231.htm"><FONT STYLE="font-size: 9pt">https://www.sec.gov/ix?doc=/Archives/edgar/data/12927/000001292724000010/ba-20231231.htm</FONT></A><FONT STYLE="font-size: 9pt">,
p.8, 24</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>7</SUP></FONT> <FONT STYLE="font-size: 9pt">https://sciencebasedtargets.org/companies-taking-action</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>8</SUP></FONT> <FONT STYLE="font-size: 9pt">https://sustainabilitymag.com/sustainability/sap-to-pwc-companies-embracing-sustainable-business-travel</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>9</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.mckinsey.com/industries/travel-logistics-and-infrastructure/our-insights/accelerating-the-transition-to-net-zero-travel</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>10</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.sustainability.gov/federalsustainabilityplan/</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>11</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.sustainability.gov/buyclean/</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>12</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.sustainability.gov/federalsustainabilityplan/fed-supplier-rule.html</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>13</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.esgtoday.com/biden-administration-announces-new-sustainable-procurement-rules-for-federal-government/#:~:text=The%20new%20proposed%20rule%20would%20update%20the%20government%E2%80%99s,or%20can%20be%20acquired%20at%20a%20reasonable%20price</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>14</SUP></FONT> <FONT STYLE="font-size: 9pt; background-color: white">https://www.defense.gov/News/News-Stories/Article/Article/3614103/dod-officials-highlight-climate-and-energy-security-issues-at-international-con/</FONT><FONT STYLE="font-size: 9pt; background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>15</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.nato.int/cps/en/natohq/topics_49208.htm</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>16</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.washingtonpost.com/climate-solutions/2022/02/10/army-military-green-climate-strategy/</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Boeing Corporation | Adoption of Value Chain Emission Reduction Target</FONT></P>
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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The EU has adopted the Climate Change and Defence Roadmap, acknowledging the need to consider climate change in the overall EU security
context and align with the goals of the European Green Deal.<SUP>17</SUP></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>NATO has issued a Climate Change and Security Action Plan identifying climate change as a threat multiplier that can impact militaries&#8217;
critical infrastructure and capabilities. <SUP>18</SUP> NATO is implementing initiatives to mitigate climate change by reducing the consumption
of fossil fuels.<SUP>19</SUP></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">By adopting a target to reduce its value chain emissions in alignment
with global 1.5&deg;C goals, Boeing can position itself to meet the evolving low-carbon demands of its various customers and take advantage
of climate-related opportunities.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I><U>Regulatory Risks</U></I></B> - Boeing and its customers will
also be affected by an evolving regulatory atmosphere as the global drive to decarbonize high-emitting sectors like aviation gains momentum.
Boeing acknowledges in its CDP Report that increasing aircraft performance standards could have an impact on its production capabilities.<SUP>20</SUP>
Boeing&#8217;s lack of a target to address its Scope 3 value-chain emissions indicates that Boeing may not be well-positioned to meet
increasingly stringent climate regulations, such as:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>In the U.S., the Federal Aviation Administration recently promulgated a final rule, effective April 2024, requiring airplane manufacturers
to implement more fuel-efficient technologies on newly built planes to reduce emissions from large aircraft. Several Boeing airplane models
will be affected, including the Boeing 77X and the Boeing 787 Dreamliner.<SUP>21</SUP></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Internationally, the EU has adopted new rules in its &#8220;Fit for 55&#8221; initiative to reduce emissions from the aviation sector.
These rules include tightening the EU Emissions Trading System by phasing out free allowances<SUP>22</SUP> <FONT STYLE="background-color: white">and
requiring airlines to use higher blends of sustainable aviation fuel.<SUP>23</SUP></FONT> This will encourage wider demand for SAF-compatible
products and services that Boeing will need to meet in order to continue to compete in this sector.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The UK announced a new net zero-consistent cap for its Emission Trading Scheme (ETS), reducing the number of available allowances.<SUP>24</SUP>
Boeing operates under the UK ETS.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">By adopting a value chain emission reduction target, Boeing will mitigate
transition costs associated with emerging low carbon regulation and demonstrate it is prepared to will compete effectively in a low-carbon
regulatory environment.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>17</SUP></FONT> <FONT STYLE="font-size: 9pt">https://joint-research-centre.ec.europa.eu/jrc-news-and-updates/climate-change-and-eu-defence-released-new-report-analysing-links-between-climate-energy-and-defence-2023-06-08_en</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>18</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.nato.int/cps/en/natohq/official_texts_185174.htm</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>19</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.nato.int/cps/en/natohq/topics_49208.htm</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>20</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.boeing.com/content/dam/boeing/boeingdotcom/principles/environment/pdf/Boeing_CDP_Climate_Response_Final.pdf</FONT><FONT STYLE="font-size: 9pt">,
p.11</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>21</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.forbes.com/sites/marisagarcia/2024/02/24/faa-sets-new-rule-to-reduce-pollution-from-planes/?sh=7c9d0f692cee</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt; background-color: white"><SUP>22</SUP></FONT>
<FONT STYLE="font-size: 9pt">https://ec.europa.eu/commission/presscorner/detail/en/ip_22_7609</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt; background-color: white"><SUP>23</SUP></FONT>
<FONT STYLE="font-size: 9pt">https://ec.europa.eu/commission/presscorner/detail/en/ip_23_2389</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt; background-color: white"><SUP>24</SUP></FONT>
<FONT STYLE="font-size: 9pt">https://www.gov.uk/government/publications/uk-emissions-trading-scheme-markets/uk-emissions-trading-scheme-markets</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I><U>Investor Expectations</U></I> - </B>Investors increasingly
expect companies to make climate-related risk disclosures, set targets, and lay out plans for mitigating climate risk. Boeing is ranked
as one of the largest corporate emitters by CA100+, a global investor initiative made up of over 700 investors aiming to ensure the world&#8217;s
largest corporate emitters take necessary action on climate change.<SUP>25</SUP> CA100+ has issued a Net Zero Company Benchmark that aims
to secure greater disclosure of climate change risks and robust emission reduction strategies.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Boeing has yet to fully meet any of the Benchmark&#8217;s criteria
that signal alignment with the global Paris Agreement. <SUP>26</SUP> This proposal therefore requests that Boeing adopt a target to reduce
its full value chain emissions in alignment with the Paris Agreement&#8217;s 1.5&deg;C goal, one of the key criteria of the Benchmark.
Other elements that Boeing fails to meet include a net zero ambition across all Scopes of emissions and capital allocation aligned with
the Paris Agreement&#8217;s objectives.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">As a consequence, investors concerned about the long-term risks associated
with climate change may migrate to companies that investors perceive as better positioning themselves for a net zero economy and regulatory
environment.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white"><B><I><U>Physical Risks</U> -
</I></B>Finally, climate change is disrupting supply chains and making materials more expensive, posing risk to Boeing&#8217;s operations.
As Boeing relies on a global supply chain for crucial materials such as aluminum and titanium, it is vulnerable to the challenges posed
by extreme weather events affecting major ports and global shipping routes. For instance, countries like China, key producers of aluminum
and titanium, have already faced disruptions due to extreme weather impacting ports.<SUP>27</SUP></FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">Economic impacts from the physical
effects of climate change are expected to increase in the future.<SUP>28</SUP> By addressing its contributions to climate change, Boeing
can reduce its long-term risk exposure and increase risk-adjusted profitability. </FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>Boeing does not disclose a plan or goal to reduce its full value chain emissions in alignment with the Paris Agreement&#8217;s
1.5&deg;C goal requiring Net Zero emissions by 2050.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">In 2022, with management support, Boeing investors voted 91% in favor
of a proposal that requested Boeing evaluate and disclose whether its climate goals and commitments were consistent with net zero, including
an evaluation of the Company&#8217;s Scope 3 use-of-product emissions.<SUP>29</SUP> Boeing&#8217;s subsequent report indicates that the
Company has not aligned its full value chain emissions with 1.5<SUP>o</SUP>C. Although it has Scope 1 and 2 operational emissions goals,
and supports the aviation industry&#8217;s ambition to achieve net zero carbon emissions, it lacks specific goals for its own value chain
emissions, including use of products, the largest portion of Boeing&#8217;s total emissions.<SUP>30</SUP> Thus, 99% of emissions from
Boeing&#8217;s value chain remain unaddressed and increase risk to the Company.<SUP>31</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">_____________________________</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt; background-color: white"><SUP>25</SUP></FONT>
<FONT STYLE="font-size: 9pt; background-color: white">https://www.climateaction100.org/whos-involved/investors/</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt; background-color: white"><SUP>26</SUP></FONT>
<FONT STYLE="font-size: 9pt">https://www.climateaction100.org/company/boeing-company/</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt; background-color: white"><SUP>27</SUP></FONT>
<FONT STYLE="font-size: 9pt">https://www.reuters.com/sustainability/sustainable-finance-reporting/storm-hitting-chinese-ports-is-wakeup-call-climate-risk-markets-2023-12-11/</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>28</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.scientificamerican.com/article/climate-change-is-exacerbating-inflation-worldwide/</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>29</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.asyousow.org/resolutions/2021/11/04-boeing-net-zero-climate-transition-plan-reporting</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>30</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.boeing.com/content/dam/boeing/boeingdotcom/principles/environment/pdf/Boeing_NetZero_Indicator.pdf</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>31</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.boeing.com/content/dam/boeing/boeingdotcom/principles/environment/pdf/Boeing_CDP_Climate_Response_Final.pdf</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Boeing Corporation | Adoption of Value Chain Emission Reduction Target</FONT></P>
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</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Boeing&#8217;s current emission goals include reducing operational
emissions 55% by 2030 as well as achieving 100% renewable energy in operations by 2030. These operational targets are important, but only
address 1% of Boeing&#8217;s emissions. Further, Boeing is heavily reliant on offsets to achieve its workplace net-zero commitment.<SUP>32</SUP>
Experts including SBTi<SUP>33</SUP> and the UN High-Level Expert Group<SUP>34</SUP> stress that offsets are not a substitute for actual,
company-based emission reductions and should only be used to address residual emissions (around 10% of a company&#8217;s emission reductions
&#65532;after 2040&#65532;). Therefore, this target is insufficient to address the proposal.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Boeing further states that it is addressing its value chain emissions
by developing more efficient fleets, advanced propulsion technologies, and sustainable aviation fuel uptake, as well as engaging employees
and suppliers on sustainability topics.<SUP>35</SUP> While these actions are essential, Boeing&#8217;s failure to set a net zero target
for its full scope of emissions, develop a plan for meeting that target, and communicate the emission reductions achieved toward its target
reduces investor understanding of its goals and progress, reduces accountability, and makes it difficult for investors to compare the
Company&#8217;s climate progress against its peers.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Boeing states it is collaborating with its suppliers to ensure that
all commercial airplanes it delivers will be compatible with 100% sustainable aviation fuel.<SUP>36</SUP> While important, this commitment
overlooks emissions from Boeing&#8217;s substantial defense segments, despite the notable demand expressed by both US and foreign militaries
for lower-carbon products and services.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Boeing lacks a value chain emission reduction target to meet evolving
regulations and customer demands, reducing its ability to serve customers and gain a competitive advantage.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD><B>Boeing lags peers in addressing the impacts of its emissions. </B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Multiple peers are setting targets to reduce the emissions associated
with their value chains, including emissions from the use of their products. Companies that set goals across their full value chains are
likely to be better prepared to meet customer needs. Excluding value chain emissions from Boeing&#8217;s emission reduction targets puts
it behind global peers in setting Paris-aligned climate goals and corporate strategies.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Airbus, Boeing&#8217;s direct competitor, committed through the Science Based Targets initiative (SBTi) to reduce the emissions intensity
associated with the use of its sold products 46% by 2035. It also has a mandatory carbon impact evaluation for each new CapEx investment
and has a dedicated budget allowing longer return on investment criteria for energy efficiency projects.<SUP>37</SUP></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>32</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.boeing.com/content/dam/boeing/boeingdotcom/principles/sustainability/sustainability-report/2023/assets/2023-Boeing-Sustainability-Report.pdf</FONT><FONT STYLE="font-size: 9pt">,
p.54</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>33</SUP></FONT> <FONT STYLE="font-size: 9pt">https://sciencebasedtargets.org/resources/files/Net-Zero-Standard.pdf</FONT><FONT STYLE="font-size: 9pt">,
p.23</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>34</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.un.org/sites/un2.un.org/files/high-level_expert_group_n7b.pdf</FONT><FONT STYLE="font-size: 9pt">,
p.19</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>35</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.boeing.com/content/dam/boeing/boeingdotcom/principles/sustainability/sustainability-report/2023/assets/2023-Boeing-Sustainability-Report.pdf#page%3D73</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>36</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.boeing.com/content/dam/boeing/boeingdotcom/principles/sustainability/sustainability-report/2023/assets/2023-Boeing-Sustainability-Report.pdf#page%3D73</FONT><FONT STYLE="font-size: 9pt">,
p.12</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>37</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.airbus.com/sites/g/files/jlcbta136/files/2023-01/Airbus%20SE%202022%20CDP%20Climate%20Change%20Questionnaire.pdf</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Boeing Corporation | Adoption of Value Chain Emission Reduction Target</FONT></P>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Honeywell, a peer in the aerospace and defense sector specializing in aircraft engine and avionics manufacturing, committed through
SBTi to reduce its absolute Scope 3 emissions 23% by 2037. It also committed to leverage 60% of its research and development towards ESG-oriented
solutions and invest $50 million per year to carbon neutrality projects.<SUP>38</SUP></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Safran, a peer in the aerospace and defense sector specializing in aircraft engine and propulsion systems manufacturing, committed
through SBTi to reduce its Scope 3 emissions from the use of sold products 42.5% per available seat kilometer by 2035. Safran plans to
achieve this goal by using an internal carbon price and dedicating 75% of R&amp;T spending on technologies aimed at reducing the environmental
impact of air transport.<SUP>39</SUP></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">Excluding value chain emissions
from Boeing&#8217;s reduction plans puts it behind global peers. As a result Boeing risks losing market share to competitors that are
better able to meet customer low carbon needs and investors&#8217; climate-related expectations.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in; background-color: #B8CCE4">RESPONSE
TO BOEING CORPORATION&#8217;s BOARD STATEMENT IN OPPOSITION</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">The Company states that it cannot support the proposal for several
reasons detailed below. None of these arguments justify its failure to meet the requests of this Proposal.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B>&#8220;Boeing already discloses certain Scope 1, 2, and 3 emissions and has set appropriate emission reduction goals.&#8221;</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">As discussed above, Boeing&#8217;s current targets address limited
parts of its business and fail to provide clarity on how the Company plans to align its entire value chain with the 1.5&deg;C target.
Boeing&#8217;s emission reduction goal only covers its operational emissions, which constitute 1% of its total emissions. The Company
has yet to disclose a target to reduce its full value chain emissions, which contribute 99% of its total carbon footprint. Although Boeing
acknowledges multiple negative effects of climate change on its operations, costs, and competitiveness, it has not set a target to mitigate
these direct risks to its business or the majority of its own contribution to climate change.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>&#8220;This is not work that can be accomplished by setting goals and working independently of our suppliers and customers, including
the U.S. Department of Defense.&#8221;</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">It is a well-accepted tenet of business that goal setting is key to
focusing and driving achievements. This Proposal does not ask Boeing to set goals that are different from or unaligned with supplier and
customer goals. Rather, Boeing has failed to take action to set goals with or for its suppliers, it appears to be lagging its customers&#8217;
climate goals, and is certainly lagging its peers&#8217; climate goals. Key clients are expressing a growing need for resource-efficient
products to address evolving security challenges and fulfill their emission reduction commitments. Recognizing climate change as a significant
threat amplifier, the U.S. Department of Defense, the EU, and NATO emphasize the importance of resource efficiency as a strategic advantage.
The U.S. Department of Defense,<SUP>40</SUP> along with the EU and NATO, <B><SUP>41</SUP></B> is actively working on GHG target-setting
guidance, creating an opportunity for Boeing to engage in this process. Developing a target to reduce emissions across its full value
chain would not only enhance Boeing&#8217;s competitiveness but also align with customer demands for emissions reduction and risk mitigation.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><B>_____________________________</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>38</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.honeywell.com/content/dam/honeywellbt/en/documents/downloads/hon-esg-report.pdf</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>39</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.safran-group.com/group/commitments/decarbonizing-aeronautics</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>40</SUP></FONT> <FONT STYLE="font-size: 9pt">https://media.defense.gov/2023/Jun/16/2003243454/-1/-1/1/2023-DOD-PLAN-TO-REDUCE-GREENHOUSE-GAS-EMISSIONS.PDF</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt"><SUP>41</SUP></FONT> <FONT STYLE="font-size: 9pt">https://www.clingendael.org/sites/default/files/2022-04/PB%20A%20European%20Green%20Deal.pdf</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Boeing Corporation | Adoption of Value Chain Emission Reduction Target</FONT></P>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD><B>&#8220;We address Scope 3 use of sold products emissions collaboratively as an industry.&#8221;</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">As discussed above, Boeing lacks a target to reduce its value chain
emissions which contribute 99% of its total emissions. While Boeing describes some actions and initiatives it is taking to address Scope
3 emissions, it fails to communicate to investors the anticipated emission reductions associated with these actions and whether they are
adequate to meet emerging regulatory and customer expectations. Its failure to make such disclosures means that investors lack critical
information and indicators of the state of Boeing&#8217;s emission reduction strategy and its mitigation of climate risk across its value
chain.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>4.</B></TD><TD><B>&#8220;The Board believes that a proposal seeking a value chain emission reduction target would not add value to shareholders yet
would result in the expenditure of additional resources by the Company.&#8221; </B></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">In 2022, 91% of shareholders voted in support of a proposal requesting
that Boeing evaluate and disclose whether its climate goals and commitments were consistent with net zero, including an evaluation of
the Company&#8217;s scope 3 use-of-product emissions. The vote reflected a recognition by Boeing and its investors that net zero alignment
is a critical business priority.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">This Proposal builds on that understanding by requesting that Boeing
take the necessary steps to adopt a value-chain emissions reduction target. As explained above, implementation of the Proposal would better
position Boeing to avoid climate-related risks and exploit climate-related opportunities, would ensure Boeing&#8217;s competitiveness
as its customer base increasingly takes climate considerations into account when making procurement decisions, would meet investor expectations
for 1.5<SUP>o</SUP>C targets, and would minimize compliance costs in a regulatory environment rapidly shifting toward decarbonization.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Adopting an emissions reduction target across Boeing&#8217;s significant
value-chain emissions is in the best interests of shareholders.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">CONCLUSION</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Boeing&#8217;s failure to set emission reduction targets that cover
its material value-chain emissions demonstrates a lack of adherence to its stakeholder&#8217;s clear expectations and exposes Boeing to
serious market and competitive risks. Vote &#8220;Yes&#8221; on this Shareholder Proposal 8.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>--</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><I>For questions, please contact Diana Myers, As You Sow, </I><I>dmyers@asyousow.org</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Boeing Corporation | Adoption of Value Chain Emission Reduction Target</FONT></P>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">THE FOREGOING INFORMATION MAY BE DISSEMINATED TO SHAREHOLDERS VIA TELEPHONE,
U.S. MAIL, E-MAIL, CERTAIN WEBSITES AND CERTAIN SOCIAL MEDIA VENUES, AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE OR AS A SOLICITATION
OF AUTHORITY TO VOTE YOUR PROXY. THE COST OF DISSEMINATING THE FOREGOING INFORMATION TO SHAREHOLDERS IS BEING BORNE ENTIRELY BY ONE OR
MORE OF THE CO-FILERS. PROXY CARDS WILL NOT BE ACCEPTED BY ANY CO-FILER. PLEASE DO NOT SEND YOUR PROXY TO ANY CO-FILER. TO VOTE YOUR PROXY,
PLEASE FOLLOW THE INSTRUCTIONS ON YOUR PROXY CARD<I>.</I></P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
