2021 ESG Report ECONOMIC AREEI: Communities Financial inclusion, accessibility, education and social justice are at the heart of our community eforts. Increasing access to banking centers and solutions for the unbanked and underbanked as well as expanding oferings to include investments for neighborhood revitalization and workforce development, will bring about the sustainable, systemic change Fifth Third strives to create. In 2021, the community workstream, led by Stefanie Steward- Young , chief social responsibility ofcer, made signifcant progress. Stefanie Steward-Young , SVP, Chief Social Responsibility Ofcer Strategic Investments Under the AREEI initiative, Fifth Third and the Fifth Third Community Development Co. committed $170.6 million in strategic investments in 2021 to accelerate racial inclusion in our footprint. One of those investments was a $2.35 million New Markets Tax Credit investment for the redevelopment of the 18,000 square foot CityLink Center located on fve acres near downtown Cincinnati. CLC is a nonproft Christian community outreach center that brings dozens of services under one roof to eliminate the complexities facing the working poor and unemployed. CLC clients engage to advance their employment, education and fnancial literacy while receiving support for childcare, transportation, counseling, and health and wellness. Additional community benefts include minority inclusion targets at 30% of the construction spending and 15% for operating supplies and services, community training in the construction and automotive trades, and childcare for nearly 100 children annually. Fifth Third also invested $2.5 million in 2021 with Detroit-based First Independence Bank ; that follows a $3 million investment made with that institution in 2008. The combined $5.5 million investment made Fifth Third the largest investor in the minority depository institution and community development Contents fnancial institution . Fifth Third has been First Independence Bank’s primary correspondent bank, managed out of Fifth Third’s Financial Institutions group, which provides correspondent banking and treasury management services to fnancial institutions of all sizes. Through this investment, Fifth Third supports First Independence through loan participation and the coordination of fnancial literacy training for First Independence Bank’s customers. This deal has the potential to result in the origination of $50 million in new consumer and business loans in Detroit. Philanthropy The Fifth Third Foundation awarded $7.9 million in grants under AREEI in 2021. The grants, which supported both the Foundation’s focus areas as well as the AREEI strategic pillars, included: • Accelerate Great Schools, $1 million, for transformative educational experiences for Cincinnati’s at-need students, part of a $2 million multi-year commitment. • Smithsonian National Museum of African American History and Culture, $400,000, for preservation of African American life, history and culture, part of a $1 million multi- year commitment. • Afro-American Cultural Center, $100,000, for equity and inclusion initiatives in North Carolina. Introduction Economic Environment Social Governance • Florida Housing Coalition, $100,000, to support afordable housing in Florida. • Motown Historical Museum, $250,000, to support the Detroit museum’s expansion. • Russell Center for Innovation, $100,000, to empower Black entrepreneurs in Georgia. • Louisville Urban League, $75,000, for fnancial empowerment and homeownership programs in Kentucky. The Foundation also provided grants to several historically Black colleges and universities or their foundations , including Central State University, Clark Atlanta University, Florida Agricultural and Mechanical University, Grand Valley State University, Johnson C. Smith University, North Carolina Central University and Tennessee State University to support the universities, and in some cases, student scholarships. More about the Fifth Third’s multicultural strategy and work with HBCUs is available on page 57 . In addition to the $7.9 million in grants awarded, the Foundation also awarded $5 million to Rockefeller Philanthropy Advisors for program-related investments. These are Foundation investments in the form of no- interest, short-term loans to entities that may not otherwise qualify for traditional fnancing. Program-related investments function like revolving loans so the grant money can be reinvested for similar purposes. The Fifth Third Community Development Company invested $2.35 million in New Market Tax Credits for CityLink, a fve-acre hub for social services in Cincinnati. CONTINUED 29