TCFD Recommendation Disclosure 4c. Describe the targets used by the organization to manage climate- related risks and opportunities and performance against targets We aim to minimize the impact of our operations on the environment. In 2019, we set environmental performance goals to reduce energy, water, and waste, power operations with renewable electricity, remain CarbonNeutral®, source paper responsibly, phase out single-use plastics, and achieve green building certifications by 2025. In 2020, we joined RE100, a global coalition of leading businesses that champion 100% renewable electricity. In 2021, we developed goals across our ESG strategy’s three pillars: Promote Diversity, Equity, and Inclusion; Advance Climate Solutions; and Build Financial Confidence. We established strategic objectives and corresponding goals to minimize our climate impact, manage our climate-related risks and opportunities, enable our customers and partners to transition to a low-carbon economy through the development of new capabilities across our company, and support community programs and initiatives to help build more climate resilient and equitable communities. In 2021, we formally committed to the Science Based Targets initiative and joined the Business Ambition to 1.5°C aligned with the goal to limit global warming to 1.5°C. American Express has set the following climate-related goals: Advance Climate Solutions Goals • Commit to net-zero emissions by 2035, in alignment with the Science Based Targets initiative (SBTi) • Enhance the management of climate-related risks and opportunities across our business • Pilot low carbon product innovations, including carbon offset and tracking solutions, by the end of 2022 • Provide at least $10 million to support initiatives, partnerships, and programs that address the adverse effects of climate change and pollution on communities from 2021 through 2025 • Engage our colleagues in sustainability initiatives through the Green2Gether program Operational Environmental Goals • Remain carbon neutral across our operations 1 • Continue to power our operations with 100% renewable electricity • Reduce energy use by 35% across our managed facilities compared to a 2011 baseline by 2025 2 • Reduce water use from our managed facilities by 10% per colleague compared to a 2019 baseline by 2025 3 • Reduce waste generated from our managed facilities by 10% per colleague compared to a 2019 baseline by 2025 3 • Divert 60% of office waste generated from our managed facilities away from landfills by 2025 3 • Achieve green building certifications for 60% of our operations by 2025 3 • Eliminate single-use plastics across our operations by 2025 • Source 100% of our direct marketing, customer communications, and office paper from certified responsibly managed forests by 2025 For more information, refer to Progress On Our 2025 Operational Environmental Goals and Environmental Performance Data Summary in our 2021–2022 ESG Report. 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. Energy use reduction since 2011 calculations are based only on managed facilities where metered data is available which represents 6,786,897ft 2 and 99,856 MWh of energy consumption in 2021 and excludes field sites, managed sites with estimated data, and data centers not operationally managed by our global real estate team. 3. Measurement is based only on managed facilities where metered and/or measured data is available; per colleague goals based on number of employees assigned in such managed facilities. INTRODUCTION PROMOTING DE&I ADVANCING CLIMATE SOLUTIONS BUILDING FINANCIAL CONFIDENCE OUR ESG GOVERNANCE & OPERATING RESPONSIBLY SUPPORTING DATA OUR COMMITMENT TO ESG 109