TCFD Recommendation Disclosure 2b. Describe the impact of climate-related risks and opportunities on the organization’s businesses, strategy, and financial planning Climate-related risks and opportunities inform our business, strategy, and financial planning across our direct operations, products and services, funding, and supply chain. The Advance Climate Solutions pillar of our ESG Strategy includes goals to enhance the management of climate-related risks and opportunities across our business, commit to net-zero emissions by 2035 in alignment with the Science Based Targets initiative, and pilot low-carbon product innovations by the end of 2022. Our strategy has been influenced by climate-related physical and transition risks over the short-, medium-, and long-term, including those associated with emerging regulations and acute and chronic physical risks. Operations: Climate-related opportunities across our operations include reducing operating costs and environmental impacts at our global facilities by improving energy, water, and resource efficiency, and leveraging climate policies and tax incentives to expand onsite renewable energy. We have been a carbon neutral company powered by 100% renewable electricity across our global operations since 2018 1 through onsite solar, renewable energy credits, carbon offsets, reduced greenhouse gas (GHG) emissions, and achieved green building certification across 56% of our operations. 2 These investments and initiatives are factored into our annual financial planning processes. Products & Services: To respond to changes in consumer preferences, we invest in research and development to develop and enhance our products and services. One of our Advance Climate Solutions objectives is to enable our customers and partners to transition to a low-carbon economy through the development of new capabilities, supported by a goal to pilot low-carbon product innovations, including carbon tracking and offset solutions, by the end of 2022. In 2019, we launched the first American Express Card made primarily from reclaimed plastic collected from oceans and coasts, which reduces GHG emissions and energy and water consumption during manufacturing compared to virgin plastic. We also introduced a Card Take Back Program, which enables US Card Members to send back expired or non-working cards to American Express for recycling. We have recycled more than 1.3 million cards since 2019, including cards returned by Card Members. In 2022, we set a goal for the vast majority of plastic cards issued by American Express to be made of at least 70% recycled or reclaimed plastic by the end of 2024, which can help avoid nearly 160,000 pounds of virgin plastic from being used annually. For our Corporate clients, our Carbon Footprint Dashboard is available to over 1,000 global corporate clients to help track estimated carbon emissions associated with their employees’ air travel. We are expanding this tool to include additional categories of spend—including ground transportation, hotel stays, restaurants, and retail—letting corporate clients better understand behaviors so they can find opportunities to manage carbon emissions. 3 In 2022, we launched a Carbon Offset Referral Suite that provides US corporate clients with a curated list of carbon offset providers who can help them manage their footprint via offset solutions that include investments in large-scale carbon removal and reduction projects and avoidance projects. Funding: In May 2022, American Express closed our first-ever ESG bond issuance. An amount equivalent to the net proceeds of the $1 billion ESG bond will be allocated toward projects in the Green and Social Categories, informed by the American Express Sustainable Financing Framework . Green projects include those related to green buildings, energy efficiency improvements and renewable energy, and the circular economy. Social projects include initiatives connected to socioeconomic advancement and empowerment, access to essential services, and affordable housing. 1. Achieved carbon neutral operations for Scope 1 (direct emissions from sources owned or controlled by American Express), Scope 2 (indirect market-based emissions), and Scope 3 (waste and employee business travel, including third-party air, rail, and rental cars) emissions through renewable energy credits, carbon offsets, and reduced GHG emissions. Operations include all our managed facilities, field sites, and data centers. Managed facilities are individual properties operationally managed by our global real estate team and housing critical business functions. Field sites are individual properties that are not operationally managed by our global real estate team but directly by our business units. They are typically smaller sites, less than 30,000 square feet (including airport lounges, foreign exchange kiosks, and sales offices) that are owned or leased by American Express. 2. Green building certified percentage is represented by the total year-end square footage certified out of total year-end building square footage. This includes leased or owned facilities actively occupied by American Express (excluding parking lot square footage) that have achieved certification under a global or locally recognized third-party environmental building certification system as meeting their performance criteria (LEED, BREEAM, NABERS, GreenMark, HQE, and Effinergie+). 3. American Express’ Carbon Footprint Tool calculations are derived by applying selected conversion factors to spending made with the following American Express Corporate products: Corporate Card, Business Travel Account, Corporate Meeting Card, Corporate Purchasing Card, Buyer Initiated Payments, vPayments and Amex Go. The estimated information provided by the Carbon Footprint Tool is for generalized informational purposes only and does not constitute financial, tax, accounting, legal or other professional advice on any subject matter. Product names and features may vary by country, and not all products or features are available in all countries. INTRODUCTION PROMOTING DE&I ADVANCING CLIMATE SOLUTIONS BUILDING FINANCIAL CONFIDENCE OUR ESG GOVERNANCE & OPERATING RESPONSIBLY SUPPORTING DATA OUR COMMITMENT TO ESG 105