2021 ESG Report SOCIAL Retain Compensation As part of our ongoing commitment to inclusion and diversity, Fifth Third’s total compensation programs are grounded in a philosophy that ensures all employees are paid fairly and equitably, and in compliance with the law. Fifth Third’s Compensation Policy • Attract and retain top talent and high performers that will drive our business strategy. • Efectively manage risk within incentive programs designed to pay for performance. • Consider applicable regulatory expectations as well as our corporate values and behavioral expectations when making compensation awards. • Align with the creation of long-term shareholder value. We continuously analyze our pay, accounting f or factors like employee role, tenure, time in position and geography. Our 2021 analysis shows that, on average, women are paid more than 99% of what men are paid, and minorities are paid more than 99% of what non-minorities are paid. We also continuously analyze our compensation programs and practices to help ensure that all employees have equal opportunity to maximize their potential. In the unlikely event we encounter a pay disparity that is not explained by job-related factors, an adjustment is made. We use competitive benchmarking data provided annually by top industry consultants to ensure the ongoing competitiveness of our total compensation program, including base salary ranges and short- and long-term incentives. Since 2019, Fifth Third has honored a footprint- wide ban on using salary history in hiring, which means that we will not ask for a candidate’s current salary to use as a factor in determining an employment ofer. This approach reduces historical gender and racial pay inequities. Contents Fifth Third ofers a 401(k) retirement plan that pays a match up to 7% of an employee’s compensation. Employee participation in the plan increased from 83% to 84% in 2021, and all employees may contribute up to the maximum allowable by law. A variety of investment options is available to employees through the plan’s core funds and a self-directed brokerage feature. Fifth Third is committed to pay transparency. We publicize salary ranges for job postings in states where required, and additionally for positions with a virtual location. Fifth Third continued to evaluate its strategies for retaining talent in 2021, especially in light of the economic trend that saw great numbers of U.S. workers voluntarily resign from their jobs. As part of this retention strategy, Fifth Third awarded more than 7,500 eligible front-line employees a special bonus payment as thanks for their onsite work and continued commitment to keep the customer at the center. To provide stability and support to its employees’ needs outside of work, the Bancorp updated its time away policies, provided additional vacation time in 2021 and ofered back-up family care. Several retention actions have been executed in alignment with the Bank’s compensation philosophy, including special bonus programs implemented for certain roles. Introduction Economic Environment Social Governance In January 2018, the Bank raised its minimum hourly rate from $12 to $15. That was followed in October 2019 by an increase from $15 to $18 per hour. In April 2022, the Bank announced a new $20 minimum hourly wage. 95% of those impacted by this change support our retail banking center and operations support functions, including customer contact centers. In our Ohio, Michigan and Illinois regions, our minimum wage is up to 200% higher than the state minimum wage*. Performance Management Recognizing the value and impact of employee performance is vital to maintaining a strong culture and helps optimize both individual and collective success. Our performance management process is grounded in our Core Values and, for leaders, in our Leader Capabilities. Q1 GOAL SETTING ONGOING, Q4 Q2 REAL-TIME YEAR-END PERFORMANCE REVIEW COACHING AND CHECK-INS FEEDBACK Q3 DEVELOPMENT Fifth Third announced a new $20 minimum hourly wage in April 2022. CONTINUED 65 *State minimum wages: OH - $9.30, MI - $9.87, IL - $12.00