– ECONOMIC 2021 ESG Report Serving Customers Contents Introduction Economic Environment Social Governance “Within the frst year of adopting Expert AP, we reduced our total paper check processing velocity by 90%. Our new system allows suppliers to pick the payment that they want.” ST A N BAHOREK, CHIEF FINANCIAL OFFICER, COLUMBUS CITY SCHOOLS • Direct engagement with suppliers to identify product continues to grow, Fifth Third looks their preferred payment type and verify payment forward to providing increasing value to information resulting in 40% conversion to commercial clients for years to come. electronic payment method on average. Receivables solutions help our clients receive • Enhanced virtual card and ACH payment funds more efciently, gain better insight into value-added options, including enriched their cash position and make informed investing remittance data, enabling suppliers to more and borrowing decisions. Solutions such as easily reconcile payments. Expert AR Receivables Matching, Expert AR • Card payments processing delivered in a Statement Production, Real-Time Payments and variety of methods (email, manual entry, Cash Logistics create operational backroom supplier’s portal). efciencies that enable clients to focus on projects that power business performance. • User-friendly buyer and supplier portal, providing clients with visibility to payment Fifth Third also ofers liquidity management data and all associated information. solutions that help clients channel their balances into investment income and improve Expert AP provides signifcant direct and cash position forecasting; information indirect value to its nearly 100 customers. In management tools that put comprehensive total, clients gained an estimated $3.5 million reporting in our clients’ hands so they have in value through increased operational the data they need when they want it; and efciency in 2021. Additionally, Fifth Third risk management solutions that provide fraud awarded over $1.7 million in Expert AP rebates mitigation tools that help safeguard clients’ for card and ACH spend last year. As the fnancial information from fraud. Since Fifth Third was founded over 160 years ago, empowering our customers and clients to achieve what matters most has been at the heart of what we do. Today, as customer and client needs evolve, we’re uniquely positioned to serve them by delivering tailored, digital solutions that meet their on-demand expectations and lifestyles, while providing the human connection and expert guidance that makes for lasting, rewarding relationships. Consumer Customers By keeping the customer at the center of everything we do and focusing on continual digital transformation, Fifth Third ofers a unique combination of products and solutions tailored to meet diferent consumer segments, along with our local presence and the relationship benefts of a community bank. The Bank’s primary programs for consumers are Fifth Third Express Banking® , Fifth Third Momentum® Banking and Fifth Third Preferred Banking . These programs are much more than just a checking account; each enables our customers to actively manage and meet the needs of their fnancial lives, in whatever way they wish to do so. More information is available at 53.com . Business Clients Just as we keep our consumer customers at the center, the same level of attention and priority is given to our business clients. Fifth Third’s Treasury Management business, for example, ofers solutions that help clients manage their cash fow to efciently collect and disburse payments, manage liquidity and mitigate risk. Payable solutions such as Expert AP help our clients control their payments and improve access to payment information. Expert AP is an innovative, full-service B2B payables solution powered by AvidXChange™. It covers 100% of clients’ domestic payables and optimizes the payment mix. It helps AP departments run more efciently and impacts their bottom line. Our client’s suppliers also beneft with additional payment and enhanced data options. Expert AP includes: • Electronic invoice capture and AP workfow automation technology integrated with clients’ current accounting ERP systems for AP process. • Ability to facilitate 100% of a client’s domestic supplier payments across all payment types (virtual card, enhanced ACH and check), while also giving clients the option to use other payment methods when necessary. 25