Expanding our long-term efforts to back small businesses Supporting small businesses worldwide through Shop Small We launched Small Business Saturday in 2010 to help independent retailers and restaurants gain more customers in the wake of the financial crisis. Over the past 12 years, the campaign has evolved into a tradition for consumers and merchants across the United States. US consumers reported spending an estimated $163 billion 4 at small businesses on Small Business Saturday since the movement started, and 2021 marked a record year, with an 18% increase in total estimated projected spending from 2020. 5 Shop Small has grown into a global, year-round movement. To address the challenges of the pandemic, we strengthened our support even more. In 2020, we committed more than $200 million to jumpstart spending at small businesses, and in 2021 committed $100 million to our Let’s Go Shop Small campaign. 6 Small Business Saturday’s impact expands beyond the merchants and individuals making purchases on one particular day. In the American Express 2021 Small Business Saturday Consumer Insights Survey, 70% of survey respondents reported that Small Business Saturday makes them want to encourage others to shop at small, independently owned retailers, too. 7 4. This spend statistic is an aggregate of the average spend as reported by consumers who shopped small on Small Business Saturday in surveys commissioned by American Express reporting spend habits on Small Business Saturday since 2012. It does not reflect actual receipts or sales. Each such survey was conducted online among a nationally representative sample of US adults. The data was projected from the samples based on then-current US Census estimates of the US adult population (18+). 5. The American Express 2020 Small Business Saturday Consumer Insights Survey was conducted by Teneo on behalf of American Express and the National Federation of Independent Business (NFIB). The study is a nationally representative sample of 2,572 US adults 18 years of age or older. The sample was collected using an email invitation and an online survey. The study gathered self-reported data and does not reflect actual receipts or sales. It was conducted anonymously on November 29, 2020. The survey has an overall margin of error of +/- 2.0%, at the 95% level of confidence. Projections are based on the current US Census estimates of the US adult population, age 18 years and over. 6. Our commitment of up to $200 million in 2020 supported a Card Member offer and the associated marketing campaign to encourage American Express Card Members in select countries around the globe to Shop Small in their local communities and online. Our commitment of more than $100 million supported Card Member offers, as well as marketing to encourage customers in select countries to support small businesses in 2021. 7. The American Express 2021 Small Business Saturday Consumer Insights Survey was conducted by Teneo on behalf of American Express and the National Federation of Independent Business (NFIB). The study is a nationally representative sample of 2,426 US adults 18 years of age or older. The sample was collected using an email invitation and an online survey. The study gathered self-reported data and does not reflect actual receipts or sales. It was conducted anonymously on November 28, 2021. The survey has an overall margin of error of +/- 2.0%, at the 95% level of confidence. Projections are based on the current US Census estimates of the US adult population, age 18 years and over. 8. Spending based on the American Express 2020 and 2021 Small Business Saturday Consumer Insights Survey. BACKING OUR CUSTOMERS AND PARTNERS We are focused on strengthening the financial security and money management capacity of small businesses through products, services, campaigns, and initiatives, and empowering individuals to build and maintain their financial well-being through products, services, tools, and education, while providing robust account security. On Small Business Saturday 2021, US consumers reported spending an estimated $23.3 billion at independent retailers and restaurants, up from an estimated $19.8 billion in 2020, the highest projected spending to date. 8 INTRODUCTION PROMOTING DE&I ADVANCING CLIMATE SOLUTIONS BUILDING FINANCIAL CONFIDENCE OUR ESG GOVERNANCE & OPERATING RESPONSIBLY SUPPORTING DATA OUR COMMITMENT TO ESG 62