Calvert’s Engagement Approach Company Engagement Corporations exert substantial influence across all aspects of global societies. Engaging with corporations allows Calvert to help address critical sustainability issues that matter to these companies, our shareholders and society as a whole. As the connection between a company’s ESG practices and its financial success becomes clearer, engagement aimed at improving corporate ESG performance increasingly aligns with the creation of shareholder value. As a responsible investor, Calvert considers opportunities to improve our position as a shareholder in our portfolio companies and which tools are best suited for driving the positive change we hope to see. We believe active ownership is essential for improving one’s position as a shareowner and, therefore, have made it an integral part of Calvert’s approach to Responsible Investing. Our engagement philosophy encompasses the following characteristics: „ INFORMED: We leverage Calvert’s extensive ESG and investment research to select targets with the potential for positive change, and to contribute meaningful ideas for the improvement of company financial and social performance. „ OUTCOME-ORIENTED: Our engagements are rooted in the unique ESG risks and opportunities associated with each company. We set differentiated objectives for transparency, policy and performance for each target company to ensure that our engagement catalyzes tangible performance improvements. „ LONG-TERM: We intend to build a long-term constructive relationship with the company to bring about lasting change and continual improvement. „ THOUGHT-LEADING: We promote ESG innovations developed by internal and external partners, such as new methods to measure corporate impact, to contribute to ongoing progress in the ESG field and in corporate best practices, generally. „ COLLABORATION AND ESCALATION: While our goal is to work collaboratively with companies, we will escalate our engagement where necessary with reluctant companies, including filing shareholder proposals (also referred to as shareholder resolutions), alerting other investors to our concerns and speaking out in the media. Rigorous corporate engagement can improve corporate behaviors, contributing to a more sustainable and equitable world, and potentially contribute to an investment’s business prospects. 4