2021 ESG Report SOCIAL Managers engage in regular performance and development conversations to ensure employees understand expectations, share the value and impact of their contributions, and focus on their potential. While managers drive many elements of the process, employees are encouraged to take an active role in engaging in performance and development conversations and in working with their managers to create solutions that positively impact their goals and overall experience. At year-end, individual performance is evaluated not just by what an employee accomplished during the year but also how the work was done. Our Core Values and Leader Capabilities ensure accountability for achieving the right results in the right way. Managers and employees also have the opportunity to focus on the future by identifying performance and development priorities for the upcoming year. Talent Management Our talent management process comprises an annual talent review and periodic updates. We analyze strategic business objectives and needs and the talent necessary to achieve our goals. We assess employee potential, determine bench strength, identify any capability gaps and create targeted development actions. The talent review process is facilitated by the Human Capital team with the following intentions: • Identify employees with greater potential so that we can provide targeted development that solves for talent gaps. • Focus on increasing representation of diverse talent at all levels. • Hold managers accountable for providing ongoing feedback, coaching and development. • Provide targeted feedback to accelerate our employees’ development and deepen their engagement. TALENT NEEDS BUSINESS STRATEGY TALENT MANAGEMENT PROCESS TALENT ASSESSMENT TALENT GAPS & ACTIONS FOLLOW THROUGH • Strive to equip employees with transferrable skills for business needs and to provide developmental experiences. • Ensure succession planning is in place in order to adjust and adapt quickly as needed. Succession planning ensures a pipeline of capable leaders at senior levels who can meet short- and long-term business needs and minimize the risk from vacancies in critical roles. An additional beneft for keeping this talent pipeline flled includes intentional focus on accelerating readiness of successors. Executive talent and succession planning for the direct reports of the CEO is managed by the CEO and chief human resource ofcer and reviewed at least annually with the Board of Directors. Contents Introduction Economic Environment Social Governance Work Practice Pathways Fifth Third also launched Work Practice Pathways for employees. Our culture thrives when working together, in person, while also recognizing the importance of having enhanced fexible work options. We were among the frst U.S. banks to welcome employees who had been working remotely back to the ofce while doing so safely and within federal, state and local COVID-19 guidelines. We also recognize the importance of fexibility. Our approach is principles-based, allowing leaders to determine the level of fexibility that is right for their business and in alignment with guiding principles. The applicability of remote work arrangements varies widely by the type of work employees do for the Bank and the responsibilities of their business units. Additionally, the Bank has refreshed its alternative work arrangement policy and has identifed roles for longer-term remote eligibility. Human Capital employees worked closely with each department to determine the level of fexibility that best supports their teams. Our workplace practice approach is principles- based, allowing leaders to determine the level of fexibility that is right for their business and in alignment with guiding principles. CONTINUED 66