RESPONSIBLE LENDING American Express is committed to responsible lending. We aim to accommodate our customers’ spending needs while providing appropriate lending capacity, with a strong focus on managing risk. No single factor determines our credit decisions. For consumer accounts, we look at credit payment history, reported income, overall debt level compared to financial resources, and credit bureau scores. For commercial clients, we consider a company’s size, financial information, and available reports from commercial bureaus, as well as information from consumer credit bureaus for our small business accounts. Our underwriting processes help us manage both our own credit exposure and our customers’ potential risk. We offer a variety of financial relief options, including a temporarily lowered annual percentage rate (APR) on our cards, waived fees, and other accommodations for customers enrolled in our financial relief program. In 2020, we created a Customer Pandemic Relief Program providing short-term support for customers impacted by COVID-19. We also enhanced and expanded our Financial Relief Program to provide assistance to customers in multiple countries. We may also refer Card Members to nonprofit credit counseling services as needed. We seek to be transparent and fair in our customer practices throughout the credit lifecycle. We regularly review marketing offers and credit decisions and investigate the root causes of customer complaints. When complaints require customer remediation, we follow an issue management process that is designed to deliver corrective actions and appropriate redress. We also conduct regular colleague training on compliance with applicable laws and regulations throughout the credit lifecycle—including marketing, underwriting, and collections activities—and track completion rates. In the United States, training includes the Equal Credit Opportunity Act and Unfair, Deceptive, or Abusive Acts or Practices. INVESTING ACTIVITIES As of December 31, 2021, a majority of the investment securities on the American Express Consolidated Balance Sheets represented US Treasuries backed by the federal government. We are also actively backing and collaborating with new businesses through our corporate venture group. Since 2011, American Express Ventures has invested in and partnered with startups to accelerate innovation for consumers and businesses. To date, we have backed more than 80 startups who are enhancing our own enterprise capabilities and shaping the future of commerce, payments, fraud prevention, data analytics, and security. INTRODUCTION PROMOTING DE&I ADVANCING CLIMATE SOLUTIONS BUILDING FINANCIAL CONFIDENCE OUR ESG GOVERNANCE & OPERATING RESPONSIBLY SUPPORTING DATA OUR COMMITMENT TO ESG 88 88