Company Selection Calvert’s engagement team has specific expertise advocating for change in corporations on matters of importance to shareholders. Working closely with our dedicated ESG research team and investment professionals, we leverage our company and industry knowledge to identify opportunities to improve a company’s overall approach to ESG, its response to controversies, or its management of ESG-related risks and opportunities. Provided for illustrative purposes only. Our goal is to select companies for engagement where we have the opportunity to create meaningful progress that can improve our clients’ portfolio performance, using the following criteria: „ MATERIALITY: Based on our internal research, we look for concerns about the company’s ESG performance that may have a material impact on our position as an investor, or an emerging issue that may raise concerns in the future. „ OPPORTUNITY: We believe that there is a reasonable likelihood of successful engagement, and that the company has practical options to improve performance. „ POSITION SIZE: We primarily engage with companies that are significant for Calvert portfolios—for example, active holdings or large passive holdings—or where we believe successful engagement will allow us to increase our ownership stake. „ FINANCIAL PERFORMANCE: We may prioritize engagements with companies that are lagging financial performers. „ EXPERIENCE: We have expertise in an area that allows us to credibly engage the company and/or the possibility of collaboration that complements our strengths. 5