As the way we live and work has evolved with the pandemic, we have been focused on creating a new work model that supports our colleagues. In March 2022, we officially launched Amex Flex, our new way of working that provides colleagues with the flexibility to work full time in the office, fully virtually, or a hybrid of both. Amex Flex is designed to recapture the creativity and collaboration of working together in person, while also retaining the agility and productivity we were able to achieve in a virtual environment during the pandemic. This approach also enables us to broaden the talent pool we can attract and strengthen retention as we provide colleagues with a compelling value proposition that offers choice, leading benefits, competitive compensation, and opportunities for growth and career advancement. Our colleagues are critical to our success, and they are the driving force behind the impact we make in people’s lives and in the communities we serve. I am exceptionally proud of what we achieved to date on our ESG strategy, thanks to the dedication of our colleagues around the world who bring our company’s purpose to life. Advancing Our ESG Priorities We announced our ESG framework in 2020, centered around three core priorities: Promote Diversity, Equity, and Inclusion (DE&I); Advance Climate Solutions; and Build Financial Confidence . Since then, we have solidified our strategy by developing a clear roadmap to translate our objectives into action. Promote Diversity, Equity, and Inclusion (DE&I) We are continuing to strengthen our culture of inclusion and belonging across the company and providing transparency into our efforts. In 2021, we published our inaugural DE&I Report, which included detailed disclosures on diversity representation among colleagues and our ongoing efforts to maintain a diverse and equitable workplace through inclusive hiring, career growth, retention, and equal pay practices. In addition to sharing our progress across these areas in 2021, in this report we have included additional details related to representation of our ethnically and racially diverse colleagues in the US. We also exceeded $1 billion in spending toward our DE&I Action Plan announced in October 2020. The plan supported our efforts to increase spending with underrepresented-owned suppliers, expanding access to capital and financial education and partnering with nonprofit organizations focused on promoting equality, among other initiatives. To build on this momentum, I am pleased to announce an additional $3 billion—which means we now aim to spend $4 billion in total from late 2020 through 2025—toward our DE&I Action Plan and initiatives globally. The majority of additional spending will continue to be allocated with suppliers. INTRODUCTION PROMOTING DE&I ADVANCING CLIMATE SOLUTIONS BUILDING FINANCIAL CONFIDENCE OUR ESG GOVERNANCE & OPERATING RESPONSIBLY SUPPORTING DATA OUR COMMITMENT TO ESG 5