Contents Introduction Economic Environment Social Governance Leading Through a Racial Reckoning 2021 ESG Report ECONOMIC Accelerating Racial Equality, Equity and Inclusion Accelerating racial equality, equity and inclusion action in the form of a $2.8 billion, three-year has always been a key priority for Fifth Third Accelerating Racial Equality, Equity and Bank. In the wake of the events of 2020, Inclusion initiative, or AREEI. Announced in though, the Bank expanded its eforts and December 2020, the three-year ARREI initiative made public its commitment to be a driver pledged signifcant funding for strategic of efective, sustainable change for our investments, access to capital, fnancial communities, customers and employees. inclusion and education, and specifc actions to further social justice and advocacy. In the After taking steps to listen and learn from our initiative’s frst year, Fifth Third delivered over stakeholders, we took immediate and strong $1.3 billion, 46% of the $2.8 billion plan. $ 170.6 million $ 1.1 billion $ 2.2 billion $ 500 million $ 60 million $ 40 million $ 25.1 million $ 12.9 million COMMUNITY INVESTMENTS PHILANTHROPIC EFFORTS LOAN CAPITAL FINANCIAL ACCESSIBILITY EFFORTS $2.8B AREEI Investment Areas 2021 Goal (by Dec. 31, 2023) As America in 2020 reached a critical juncture on its road to overcoming inequality and injustice, Fifth Third’s leaders recognized the importance of the moment and stepped back to consider not only how the Bank could be an efective driver of change for diversity, equity and inclusion, but also how we could accelerate eforts already underway. A group of executives including Fifth Third Bancorp President Tim Spence , Chief Corporate Responsibility Ofcer Kala Gibson and Chief Inclusion & Diversity Ofcer Stephanie Smith began talking about the possibilities. “We recognized the broader, long-term work ahead of us to drive sustainable change on structural and systemic issues,” said Smith. Spence, who has also been the executive sponsor of Fifth Third’s African American Business Resource Group since 2016, noted that the group was committed to solving systemic issues. “As leaders, we are called to make Tim Spence , EVP, President Kala Gibson, Council Co-Chair, E V P, Chief Corporate Responsibility Ofcer Stephanie A. Smith , Council Co-Chair , SVP, Chief Inclusion & Diversity Ofcer consequential decisions in consequential times. The sustained progress we want to achieve requires a strategic approach, along with the time and resources needed to drive real impact. There is no work more important than this.” From these discussions, the Executive Diversity Leadership Council, or EDLC, was born. The EDLC held its frst ofcial meeting on Juneteenth in 2020. The EDLC comprises senior Bank leaders and was initially charged with developing and delivering short- and long-term solutions to advance the Bank’s diversity eforts. Initially, the EDLC focused on Black employees, communities and customers. In 2021, the EDLC broadened its focus to all diverse employees, communities and customers. Given the nature of the work, Gibson noted that the EDLC requires a higher level of vulnerability. “This is an area where people come with their own life experiences. We have to open up and be vulnerable as our work continues. It makes for richer discussions and solutions, and it’s the only way we will get to real, sustainable change.” Smith explained that inclusion and diversity will always be at the heart of the Bank’s core values and strategic actions. “I’m proud of how the EDLC and everyone in our workstreams doubled down on our core value to be more inclusive and diverse. We made great progress in 2020 and 2021. I hope everyone involved will be able to look back years from now and see how we drove lasting change.” 26