Annual Report 2005 Athletes Earned Olympic Gold in Every Men’S Running Event Except the the Greatest Golfers in the World

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Nike, Inc. AANNNUAALL REREPORT 22005005 EVOLVE IMMEDIATELY Paul Rodriguez // Nike Freddy Adu // Nike Yang Yang // Nike Carmelo Anthony // Jordan

Dwayne Wade // Converse Grace Park // Nike Golf Christiano Ronaldo // Nike Maria Sharapova // Nike

Rafael Nadal // Nike Lebron James // Nike Rob Machado // Hurley Michael Vick // Nike LeBron James. Maria Sharapova. Freddy Adu. When Lance Armstrong was winning his ﬁ rst Tour, these athletes were in grade school. Perhaps more importantly, when Lance was breaking in, Nike was a single, predominantly U.S.-based brand. Today, with over half of our business in international markets and a growing number of subsidiaries, that all feels like ages ago. But to Lance—and to a lot of people—it probably feels like yesterday. Around here, we look back every now and then, but only for inspiration.

We always push ahead to seize the opportunities. To our shareholders,

Each year we devote this space to my thoughts about Nike. Each year I wonder

why we do it. There is something artiﬁ cial about the effort. We attempt to

freeze time and talk about a company that is in constant motion. It’s like

trying to sketch Asafa Powell running the 100m.

But that won’t stop me from trying.

So what does Nike’s evolution look like at this moment? Proﬁ table. Phhilipilip H.H. KnightKnight Chairman of the Board, Nike, Inc. Fiscal Year ’05 is a record year for sales and proﬁ tability. Again. We closed the year with our seventh consecutive quarter of double-digit earnings per share

growth. Footwear revenues are up 11% over last year. Apparel revenues are up

10%. Equipment revenues are up 15%. A dollar invested in Nike stock one year

ago was worth $1.17 at year-end.

Lance gives us a peek at the true nature of evolution. It isn’t about change for the sake of change. Evolution is a search for significance. New and different isn’t enough. New and better is the way.

Looks like we’re ﬁ nally ﬁ guring out some things.

Like soccer. Ten years ago our boots were dismissed by athletes and retailers.

“You don’t get it,” they said. But we knew we could learn. And we knew we

could innovate.

Today Nike is the footwear market-share leader in Europe. This year

we watched FC Barcelona win the Spanish League. Juventus win the Italian

League. PSV win the Dutch League. Arsenal win the FA Cup. Ronaldinho win

FIFA Player of the Year. Thierry Henry win Europe’s Golden Boot Award.

Brasil win the Copa America. All won in Nike Gear.

Next year the World Cup ﬁ nals will be in Berlin. Some people think this will

be ground zero for an epic battle of the brands. Not so. The soccer wars won’t

be won in someone’s backyard. They’ll be won on stadium pitches and brown

dirt patches around the world. I think we get it now.

In Athens we showed that Nike, more than anybody else, “gets” running. Nike

To Our Shareholders Nike, Inc. Annual Report 2005 athletes earned Olympic gold in every men’s running event except the the greatest golfers in the world. Like soccer, I think we get it now. Converse marathon. It would have been a sweep but for the full moon, which prompted and the inimitable Chuck Taylors are ﬂ ourishing. Hurley continues to gain a crazed spectator to jump from the crowd and mug race leader Vanderlei Lima. traction in the fast growing surf-culture market. Bauer NIKE Hockey continues to innovate, and we look forward to seeing those ideas on the ice in a full NHL As this book goes to print, Lance Armstrong is competing in his ﬁ nal Tour season next year. It’s a portfolio of great performance and opportunity. de France. If he wins, it will be an unprecedented seven consecutive victories.

But win or lose, the Lance Armstrong story transcends the great race. This year we published our ﬁ rst Corporate Responsibility Report in three years.

He represents the strength it takes to overcome . . . anything. A truly evolutionary report. In it we list our contract supplier base, a ﬁ rst for our industry. Some people say it will erode a competitive advantage, leaving A year ago, we cooked up a little yellow bracelet that said LiveSTRONG. Our our supply chain open to those who want to steal away suppliers. Is it a risk? goal was to sell 5 million bands to beneﬁ t the Lance Armstrong Foundation. Maybe, but this kind of transparency can be key to unlocking collaboration.

We’re at 50 million and counting. The industry is changing, and we believe the best way to deal with change

is to create it. Lance gives us a peek at the true nature of evolution. It isn’t about change for the sake of change. Evolution is a search for significance. New and In the case of Nike, evolution isn’t the result of natural selection. It comes different isn’t enough. New and better is the way. from talking with consumers and serving athletes. It comes from the bright,

passionate people who make and manage Nike products—Nike Free footwear, We’re clearly getting better at presenting our products to consumers. Nike Pro fi rst layer apparel, the Air Jordan XX shoe, the Hi-Vis Total 90 football, NikeTown stores posted a stellar performance this year. We now have eight and customizable NIKEiD products. NikeWomen stores in key cities throughout the U.S. and one just opened in It comes from those magic moments that reaffi rm the sanctity of sports. You Munich, Germany. We’re on fi rm footing with our key retail partners. And never know when they’re going to happen, but you just know they’re coming. we’re opening 1.5 retail doors per day in China, where we nearly doubled Tiger Woods chips from the back of the 16th green at Augusta, the ball rolls revenues over last year. Any country where a 110-meter hurdler can become impossibly slow to the hole, hangs on the edge, the Swoosh teasing the fi eld a national hero is a country where Nike can succeed. before it drops into the cup. The Boston Red Sox shake off a dozen strangleholds

Looks like we’re evolving into a truly global company. to bust a curse 86 years in the haunting. Paula Radcliffe, devastated after pulling

out at mile 23 of the Olympic marathon, toughs out a three-second win at the Revenues in every Nike region outside the U.S. are up double digits over last New York City Marathon. These are the incremental moments in the evolution year. Even in the U.S., where momentum ﬂ agged a few years ago, we’re seeing of human potential, and I feel privileged to be their witness. revenues up 7%. And one year after launching a direct presence in Russia, we see strong brand acceptance and growth. But we still have a lot of work to do. This is my 25th letter to you as Chairman of Nike. It is the ﬁ rst letter that

Evolution isn’t easy. I will sign without CEO in the title. That challenge now falls to Bill Perez. He’s used to managing multiple brands in a global environment. He holds strong Last year I wrote, “You want to see an opportunity for Nike akin to becoming beliefs about corporate citizenship. He steps in at a time when Nike is at an global? Look to the subs.” Since I mention that now, you can assume I was all-time high in revenues and earnings. His timing is excellent. right. This year revenue for the subsidiaries is up a collective 22%. Philip H. Knight Cole Haan was named Footwear Company of the Year in Footwear News.

We acquired Starter and launched footwear for that brand. Ten years ago Nike Chairman of the Board, Golf was struggling to be taken seriously. Today our gear is used by some of Nike, Inc. After 34 years with S.C. Johnson—eight of which he served as CEO and President, Bill Perez takes a few minutes to talk about his ﬁ rst six months as Nike’s new CEO, where he’s leading the company and how he plans to get us there.

Interview With Bill Perez Nike, Inc. Annual Report 2005 WWHATHAT WASWAS YOURYOUR FIRSTFIRST REACTIONREACTION TOTO THETHE IDEAIDEA OFOF BEINGBEING NNIKE’SIKE’S CCEO?EO? SSOO WHATWHAT DODO YOUYOU THINKTHINK ISIS THETHE BIGGESTBIGGEST MISPERCEPTIONMISPERCEPTION ABOUTABOUT NIKE?NIKE?

DDAAY ONE,ONE, THETHE PHONEPHONE CALLCALL COMES.COMES. . . That Nike is simply an opportunity for people who want to invest in the

(BP) I had mixed emotions. If you love sports, you couldn’t help but be sports business. We are a high growth consumer business investment and

excited about being able to work with the greatest sports brand in the world. we’ve been generating high returns for the last several years. I’m not sure that

But leaving a company after thirty-four-and-a-half years is not easy, and is always recognized. In addition, we have Converse and Cole Haan; the fast-

leaving the people was difﬁ cult. Still, Nike was my brand. I had been running growing Starter brand; Bauer, one of the leading hockey brands in the world;

in Nike shoes for many, many years and I was going from a company I loved and Hurley, an up-and-coming surf-culture lifestyle brand.

to a brand I loved. WWHEREHERE WILLWILL NIKE’SNIKE’S NEXTNEXT BIGBIG GROWTHGROWTH OPPORTUNITYOPPORTUNITY COMECOME FROM?FROM?

SSOO WHENWHEN YOUYOU ARRIVED,ARRIVED, HOWHOW DIDDID NIKENIKE SURPRISESURPRISE YOU?YOU? From developing markets—India, Thailand, Indonesia, Brasil, China, Russia—

I was surprised by the energy, enthusiasm, passion and excitement of the and the development of Converse, Starter and our other subsidiaries. We’ve

people here, and the sense that we can do anything. Everybody competes, not just scratched the surface in women’s ﬁ tness. In soccer, we have become

against each other, but against everyone in the marketplace. one of the world’s leading on-ﬁ eld performance brands. And we’ve been

able to leverage that on-ﬁ eld success by creating an entirely new category

of soccer-inspired street footwear. And we see opportunities like this “We have to be as hungry tomorrow as we throughout the portfolio. were yesterday—as hungry as Phil Knight was

when he was selling shoes out of his car. My HHOWOW WILLWILL YOUYOU KNOWKNOW YOUYOU AREARE SUCCEEDINGSUCCEEDING ININ THISTHIS JOB?JOB?

sense is that the people here are very hungry If we can sustain the growth, which obviously gets more challenging as the

to achieve new success. I know I am.” company gets larger. If we can keep the Nike Brand healthy, and if we can

establish Starter and Converse as major players in the market—that will

look like success to me. HHOWOW DODO YOUYOU FEELFEEL THATTHAT YOUYOU HHAVEAVE SSURPRISEDURPRISED NNIKE?IKE?

I think I was culturally aligned with Nike more than anybody expected other WWHATHAT ISIS A GREATGREAT MISTAKEMISTAKE YOUYOU TTHINKHINK BBIGIG CCOMPANIESOMPANIES MMAKE?AKE? than Phil Knight. I think people probably expected me to take a longer time Complacency. If we start reading our own press, we have big problems. We to get indoctrinated into the Nike culture, but I have felt at home here. have to be as hungry tomorrow as we were yesterday—as hungry as Phil

HHOWOW DIDDID YOUYOU APPROACHAPPROACH ENTERINGENTERING A $1144 BILLIONBILLION COMPANY?COMPANY? Knight was back when he was selling shoes out of his car. My sense is that

I tried to learn as much as I could. This is not a turnaround situation, so I’ve the people here are very hungry to achieve new success. I know I am.

been able to focus my efforts on learning as fast as I can. And I’ve had the HHOWOW DODO YOUYOU AACCOMPLISHCCOMPLISH TTHATHAT WWHENHEN YYOUOU AARERE AALREADYLREADY NNUMBERUMBER OONE?NE? opportunity to meet and understand the culture and the people. You redefine the market in bigger chunks so that you can aspire to double

WWHATHAT ADVICEADVICE HASHAS PHILPHIL KNIGHTKNIGHT GGIVENIVEN YYOU?OU? your business. A lot of companies make the mistake of narrowly deﬁ ning

Phil and the Board gave me advice in terms of understanding what should the business segments in which they are working so they can talk to

never change at Nike and what we want to perpetuate. At the same time, themselves about being market leaders. I worry about complacency,

this helped give me an idea of the types of things that might be appropriate but then again, this company has proven time and time again that it

to change if sensible. can continue to grow. As 26-year veterans with the company, Nike Brand Co-Presidents Mark Parker and Charlie Denson know how to run a successful business, overseeing nearly 90% of Nike, Inc.’s total revenue. In nearly three decades, they’ve not only seen Nike, Inc.’s annual revenues grow from $149 million to nearly $14 billion, they’ve witnessed many pivotal events in sports history. So we asked them to describe one moment that embodies everything we do in business. One moment that represents our inspiration, our obsession with sport, and why we continue to evolve as a company.

I was an American, at a foreign It was the 15th stage of the

sporting event, in a foreign 2003 Tour de France. I was in

country. It was the semiﬁ nal the US Postal car, following the

match of the 1998 World riders, with the team coach,

Cup and I sat with the Dutch Johan Bruyneel. It was hot.

National Federation as they Lance was ﬁ ghting a virus and

played Argentina. The match he had already avoided a fatal

CCharlieharlie DensonDenson was tied with about two MMarkark ParkerParker crash that knocked out one President, Nike Brand President, Nike Brand minutes left in the game. of the pre-race favorites. And,

Frank De Boer made a brilliant steal and ﬁ red the ball for what seemed suddenly, at one of the steepest climbs of the Alps, Lance went down. But like the entire length of the ﬁ eld. Dennis Bergkamp brought it down from he got up, proceeded to dig in and managed to gain strength to not only mid-air. It bounced once, he shot and scored the winning goal that win the stage, but the Tour. To be able to see him pull away—with tenacity, launched Holland into the semifinals against Brasil. It was considered focus, and the drive to do everything he could to win—was amazing. one of the top goals ever scored in a World Cup game. Everyone went Like Lance, Nike is able to turn adversity, pressure and competition into crazy. It was incredible. energy and opportunity. It is a strength for any athlete, team or business.

At that moment, I was able to see what sport does to bring the world We are in a competitive market. There are always people trying to get together, not only to transcend social, political and economic barriers, but pieces of what we do and do it better. And the ability to turn that pressure to transcend all natural barriers. Sport is a global language. And as a and competition into the impetus to do our best, as individuals and as company, we embody sport—intense, focused, competitive, always striving a team, is a huge part of Nike. We dig in, we come together, adapt and to be the best, breaking through old barriers, and setting new records. change to be more competitive . . . always focused on serving the athlete.

It doesn’t get any richer than that. It’s when we are at our best.

The Business Nike, Inc. Annual Report 2005 NIKE, Inc. Revenue Performance 5-Year CAGR 9%* Fiscal Year 2001-2005 Revenue in Millions 05 $13,740 04 $12,253 03 $10,697 02 $ 9,893 01 $ 9,489 *5-Year CAGR based on 2000 Revenue of $8,995 million. elena Slesarenko // Nike elena Slesarenko // Y NIKE, Inc. Revenue Distribution Fiscal Year 2001 vs. 2005

’01 ’05 Subsidiaries* Subsidiaries* US 7% US 13% 49% 37%

International International 44% 50%

* The segment labeled “Subsidiaries” represents revenues from NIKE Golf, Cole Haan Holdings, Inc. and Bauer NIKE Hockey, Inc. for ﬁ scal year 2001, and also includes Hurley International LLC, Converse Inc. and Exeter Brands Group LLC for ﬁ scal year 2005.

Fernando Torres // Nike // Fernando Torres NIKE, Inc. EPS Performance* 5-Year CAGR 17%** Fiscal Year 2001-2005 05 $4.48 04 $3.51 03 $2.77 02 $2.46 01 $2.16

*EPS based on diluted earnings per share before accounting change. **5-Year CAGR based on 2000 EPS of $2.07. NIKE, Inc. Return on Invested Capital* Fiscal Year 2001-2005 05 23% 04 22% 03 18% Liu Xiang // Nike Liu Xiang // 02 15% 01 14%

*Return on Invested Capital calculation available at www.nikebiz.com/investors/ﬁ nancials.

Five-Year NIKE, Inc. Stock Performance vs. S&P 500 Fiscal Year 2001-2005

S&P 500 92% -16% NKE -20% 0% 20% 40% 60% 80% 100% Kirk Hinrich // Converse Kirk Hinrich // Directors Ofﬁ cers Divisional Vice Presidents

John G. Connors (2) Philip H. Knight James Allaker Hubertus Hoyt Partner – Ignition Partners LLC Chairman of the Board Vice President, EMEA Finance, Vice President, EMEA Commerce Bellevue, Washington Operations & Strategic Planning Hilversum, The Netherlands William D. Perez Hilversum, The Netherlands Jill K. Conway (4) (5) (6) Chief Executive Offi cer & President Hannah C. Jones Visiting Scholar Thomas D. Arndorfer Vice President, Corporate Responsibility Donald W. Blair Massachusetts Institute of Technology Vice President & Chief Financial Offi cer, Beaverton, Oregon Vice President & Chief Financial Offi cer Boston, Massachusetts NIKE USA Gerald P. Karver Thomas E. Clarke Beaverton, Oregon Ralph D. DeNunzio (3) (4) (6) Vice President, President of New Ventures President, Harbor Point Associates, Inc., Nicholas C. Athanasokos Global Apparel Operations private investment and consulting fi rm Wesley A. Coleman Vice President, USA Supply Chain Beaverton, Oregon New York, New York Vice President, Global Human Resources Beaverton, Oregon John D. Kidd Alan B. Graf, Jr. (2) Charles D. Denson Alexander W. Bodecker Vice President, Compliance Executive Vice President, President, NIKE Brand Vice President, Special Projects Beaverton, Oregon Chief Financial Offi cer, FedEx Corporation Beaverton, Oregon Memphis, Tennessee Gary M. DeStefano Peter A. Kolsky President, USA Operations Mary Kate Buckley Vice President & General Manager, Delbert J. Hayes (2) (3) Vice President & General Manager, USA Apparel & NIKE Team Sports Newberg, Oregon Trevor A. Edwards Americas Beaverton, Oregon Vice President, Global Brand Management Beaverton, Oregon Douglas G. Houser (1) (5) (6) Julia A. Law Partner – Bullivant, Houser, Bailey, P.C., Mindy F. Grossman Oscar E. Cardona Vice President, USA Human Resources Attorneys Vice President & General Manager, Vice President, EMEA Human Resources Beaverton, Oregon Portland, Oregon Global Apparel Hilversum, The Netherlands Philip P. McAveety Jeanne P. Jackson (5) Clare L. Hamill Stefano Caroti Vice President, EMEA Marketing Founder & CEO, MSP Capital Vice President, New Business Development Vice President, EMEA Commerce Hilversum, The Netherlands Newport Coast, California Hilversum, The Netherlands Adam S. Helfant Larry G. Miller Philip H. Knight (1) Vice President, Global Sports Marketing James C. Carter President, The Jordan Brand Chairman of the Board, NIKE, Inc. P. Eunan McLaughlin Vice President & General Counsel Beaverton, Oregon Beaverton, Oregon Beaverton, Oregon Vice President & General Manager, Michelle Y. Moorehead William D. Perez (1) Europe, Middle East & Africa (EMEA) Pamela M. Catlett Vice President, Global Strategic Planning Chief Executive Offi cer & President, D. Scott Olivet Vice President, Investor Relations Beaverton, Oregon NIKE, Inc. Vice President, NIKE Subsidiaries Beaverton, Oregon Beaverton, OR John J. Notar & New Business Development Craig R. Cheek Vice President & General Manager, Orin C. Smith (2) Mark G. Parker Vice President & General Manager, European Team Sports Chief Executive Offi cer (Retired) President, NIKE Brand USA Footwear Hilversum, The Netherlands Starbucks Corporation Beaverton, Oregon Seattle, Washington Eric D. Sprunk Bernard F. Pliska Vice President & General Manager, Dennis C. Colard Vice President, Corporate Controller John R. Thompson, Jr. (4) (5) Global Footwear Vice President, Beaverton, Oregon Former Head Basketball Coach Global Subsidiary Operations Georgetown University Lindsay D. Stewart Beaverton, Oregon Curtis S. Roberts Washington, D.C. Vice President, Chief of Staff & Secretary Vice President & General Manager, Shelley K. Dewey Timing, Vision & Tech Ventures Roland P. Wolfram Vice President, Beaverton, Oregon Vice President & General Manager, Global Footwear Product Creation (1) Member – Executive Committee Asia Pacifi c Beaverton, Oregon Peter F. Ruppe (2) Member – Audit Committee Vice President & General Manager, (3) Member – Finance Committee Robert W. Woodruff Jeffrey L. Fardell NIKE Equipment (4) Member – Compensation Committee Treasurer Vice President, Beaverton, Oregon (5) Member – Corporate Responsibility Global Active Life Apparel John F. Coburn III Committee Hilversum, The Netherlands Robert James Tucker Assistant Secretary (6) Member – Nominating and Corporate Vice President, NIKE UK Joseph M. Ha United Kingdom Governance Committee William E. Berner, Jr. Vice President, International Business Assistant Secretary & Government Relations Johannes Henricus Reiner van Alebeek Beaverton, Oregon Vice President, NIKE Global Operations & Technology Tinker L. Hatfi eld Beaverton, Oregon Vice President, Innovation Design & Special Projects Howard L. White Beaverton, Oregon Vice President, The Jordan Brand Beaverton, Oregon Joaquin D. Hidalgo Vice President, Michael J. Wilskey USA Marketing & Brand Management Vice President, Brand Management, Beaverton, Oregon Subsidiaries & New Business Beaverton, Oregon Elliott J. Hill Vice President, USA Commerce Robert C. Wood Beaverton, Oregon President, NIKE Golf Beaverton, Oregon John R. Hoke III Vice President, Global Footwear Design Craig G. Zanon Beaverton, Oregon Vice President & General Manager, USA Geographic Business Units Beaverton, Oregon Subsidiaries Advisory Council Locations

Bauer NIKE Hockey Inc. Michael Jordan World Headquarters Chris Zimmerman President One Bowerman Drive President The Michael Jordan Foundation Beaverton, Oregon 97005-6453 Chicago, Illinois European Headquarters Cole Haan Holdings Incorporated Gareth C.C. Chang Colosseum 1 Managing Partner 1213 NL Hilversum

GC3 & Associates International LLC The Netherlands Converse Inc. Manhattan Beach, California Jack L. Boys Bauer NIKE Hockey Inc. CEO Elizabeth G. Dolan 150 Ocean Road Satellite Sisters Greenland, New Hampshire 03840 Hurley International LLC Santa Monica, California Robert M. Hurley Cole Haan Holdings Incorporated President and CEO One Cole Haan Drive Yarmouth, Maine 04096 Exeter Brands Group LLC Converse Inc. Mary F. Gleason One High Street President North Andover, Massachusetts 01845-2601 Exeter Brands Group LLC 1350 Broadway, 3rd Floor New York, New York 10018 Hurley International LLC 1945 Placentia Avenue Costa Mesa, California 92627

Shareholder Information

Independent Accountants DDividendividend PaymentsPayments PricewaterhouseCoopers LLP Quarterly dividends on NIKE common stock, when declared by the Board of 1500 SW Fifth Avenue, Suite 3100 Directors, are paid on or about July 5, October 5, January 5, and April 5. Portland, Oregon 97201 OOtherther SShareholderhareholder AAssistancessistance Registrar and Stock Transfer Agent Communications concerning shareholder address changes, stock transfers, EquiServe Trust Company, N.A. changes of ownership, lost stock certifi cates, payment of dividends, dividend P.O. Box 43069 check replacements, duplicate mailings, or other account services should be Providence, RI 02940-3069 directed to the Company’s Registrar and Stock Transfer Agent at the address 800-756-8200 or telephone number listed in this section. Hearing Impaired # NIKE, Inc. designs and markets a wide variety of athletic footwear, apparel TDD: 800-952-9245 and equipment for competitive and recreational uses. http://www.equiserve.com NIKE has attained its premier position in the industry through high quality SShareholderhareholder InformationInformation production, innovative products and aggressive marketing. Copies of the Company’s Form 10-K or Form 10-Q reports fi led with the Securities and Exchange Commission are available from the Company without CCertifiertifi ccationsations charge. To request a copy, please call 800-640-8007 or write to NIKE’s Investor On September 29, 2004, Philip H. Knight, NIKE’s then Chief Executive Offi cer, Relations Department at NIKE World Headquarters, One Bowerman Drive, certifi ed to the NYSE that he was not aware of any violation by the Company Beaverton, Oregon 97005-6453. Financial information is also available via of the NYSE’s corporate governance listing standards, without any qualifi ca- the internet at www.NikeBiz.com. tions. NIKE has fi led with the Securities and Exchange Commission, as exhibits to its Annual Report on Form 10-K for the year ended May 31, 2005, all required certifi cates of its Chief Executive Offi cer and Chief Financial Offi cer regarding the quality of NIKE’s public disclosures.

NIKE, the Swoosh Design, Just Do It, Nike Free, Nike Pro, Air Jordan, NikeTown, NikeWomen, NIKEiD, and Total 90 are trademarks of NIKE.

Printed in Canada / MET-111k-07/05

The Company Nike, Inc. Annual Report 2005 Pushing Ahead Nike, Inc. Annual Report 2005 Lance Armstrong is retiring this year—from this phase of his life.

Things change;

it’s constant and inevitable. Nike Richard Jefferson //

Legendary athletes retire and new ones come along. Just like in business—technology advances, trends come and go, and markets shift. But like change, one thing

remains constant—our ability e to evolve immediately. Robinho // Nik Robinho // Xing Huina // Nike Xing Huina // Nike

Bobby Crosby // Jason Bay // Nike Jason Lezak // Nike Paul Casey // Nike Golf Omar Salazar // Nike

Hicham El Guerrouj // Nike Chris Bosh // Converse Diego da Cunha // Nike Martin St. Louis // Bauer Nike Hockey

Serena Williams // Nike Wayne Rooney // Nike Champ Bailey // Nike Sanya Richards // Nike Shiqiang Guo // Nike Kaitlin Sandeno // Nike Thomas Voeckler // Nike Tom Brady // Nike

Asafa Powell // Nike Marion Hossa // Bauer Nike Hockey Tim Curran // Hurley Ai Sugiyama // Nike

Quentin Richardson // Jordan LaDanian Tomlinson // Nike Marianne Timmer // Nike Adriano Ribeiro // Nike The Nike Annual Report is printed on 100% postconsumer waste paper made with process- chlorine-free 100% PCW fi ber. The paper is certifi ed by Green Seal and the Forest Stewardship Council, which promotes environmentally appropriate, socially benefi cial, and economically viable management of the world’s forests. The paper was also manufactured using non- polluting, wind-generated energy. 2

This project used 50,000 pounds of 100% PCW paper. The savings derived from using this paper in lieu of virgin ﬁ ber paper on this project is equivalent to: 600 trees not cut down 27,040 lbs. solid waste not generated 1,732 lbs. waterborne waste not created 52,846 lbs. atmospheric emissions eliminated 254,865 gallons wastewater ﬂ ow saved 345,376,267 BTUs energy not consumed Savings derived from choosing a paper manfactured using wind-generated energy: 7,469.25lbs. air emissions (CO2, SO2 and NOX) not generated. This energy savings is equivalent to planting 505.66 trees or not traveling 8,333.31 miles in an average automobile.