2022 Annual Report 22 30% Club France Investor Group Background We discussed the results of a study sponsored by Deloitte and 100 Women in Finance dealing with one of our engagement topics: what the state of play is for women in finance, whatever the continent, and recommendations to break the glass ceiling. Insights & Learnings The glass ceiling exists in finance, but it is less acute than in the other industries. In finance, the percentage of women on boards is 21% and 19% in C-suite roles worldwide. It’s quite low, below the threshold of 30%, but it’s above all other industries. In terms of CEOs (Fortune 2021 Global 500 list), only 5% of CEOS are women; there are actually only six women that are CEOs. COVID-19 had quite an impact on women in the workplace. 51% feel less optimistic about their career prospects today than before Covid. It is critical to develop an inclusive culture so that women can remain in the workplace. What might the future look like based on historical trends and patterns across the globe? Not great, very gradual, and fragile • From 1998 to 2021, data collected on the situation for women assessed possible pathways for the next decade. Patterns observed over the past two decades show how the situation for women in financial services could evolve by 2030. • Progress will be very gradual in the representation of women in all kinds of roles (next-gen, C-suite, senior leadership). The slope of the curve is rather flat. • Next-gen (e.g., all workforce levels and titles below senior leadership) figures are stalling in some regions due to the pandemic. Many women withdrew f rom the workforce during the pandemic to take care of their families. Another outcome of the study and key takeaway is the evidence of the multiplier effect. For every organization studied, Deloitte observed that for each woman added to the C-suite, there was a positive impact on senior leadership below the C-suite. In Europe, every woman in C-suite results in 2.6 more women. There is an obvious positive impact stemming f rom women as role models - women in the C-suite are in a position of power and advocating for women in all roles. For FSIs to drive meaningful change and realize the full power of the multiplier effect across their organizations, they will need to improve gender diversity at the highest levels. Inclusive culture = key to foster diversity in the workplace. How to encourage financial companies to have an inclusive culture: • Recruit & Retain: assess current gender gap and set ambitious but achievable targets for each role and communicate strategies aimed at narrowing gaps. Women shouldn’t be excluded f rom informal conversations at the executive committee, hence the need to create a genuinely inclusive leadership and culture. Need to develop inclusive role descriptions. • Address Persistent Challenges: provide formal sponsorship, mentorship, allyship programs; provide flexible working options that won’t hinder career progression opportunities; Provide support options for childcare and well-being • Cultivate Growth Opportunities: avoid a leaky pipeline. In progressing toward leadership positions, the proportion of women declines. Need to prepare women for the new positions. Think about succession planning and not just for the year ahead - do it with enough time to be able to have a sufficiently diverse pool of candidates. Laurence Dubois, Partner, Deloitte FSI Presentation on gender diversity in finance and their approach on breaking the glass ceiling & the multiplier effect Tips for the 30% Club France IG: three key/ critical questions we should ask companies when engaging the glass ceiling to make sure that we adequately cover the issue. • How do you foster an inclusive culture in your organization? • How do you help women prepare for their next position? • How have you organized succession planning for key leadership positions?