What We Accomplished So Far 11 11 A note on terminology: All updates related to the Racial Equity Commitment noted below are focused on Black, Hispanic and Latino households, customers, clients and/or communities and that is not restated for each metric. The homeownership and small business goals are incremental units and dollars above an annual baseline that is benchmarked to 2019 business results. Our 2025 Commitment Progress through December 31, 2021 INCREASE HOMEOWNERSHIP • Originate an incremental 40,000 home purchase loans ($8 billion) and refinance an additional 20,000 mortgages ($4 billion) for Black, Hispanic and Latino households. • Home Lending continues to make progress in its lending commitment to Black, Hispanic and Latino communities. • Refinanced 19,000 of the 20,000 incremental loans goal, nearly $5 billion. • Originated nearly 12,000 home purchase loans for Black, Hispanic and Latino households in 2021, totaling more than $4 billion. While the number of units was slightly below 2019 production volume, the firm continues to pace towards originating an incremental 40,000 purchase loans by 2025. • Hired more than 150 Community Home Lending Advisors as part of our newly-established Community and Affordable Home Lending business. EXPAND AFFORDABLE RENTAL HOUSING AND SUPPORT FOR VITAL COMMUNITY INSTITUTIONS • Finance the creation and preservation of 100,000 affordable rental units through $14 billion in new loans, equity investment and other efforts. • Approved funding of approximately $13 billion in loans to help preserve more than 100,000 affordable housing and rental housing units across the U.S. • Created the Community Development Banking Capital Solutions team to offer innovative financing options for affordable housing and community facilities by working with a broad range of capital sources. • Increased Low-Income Housing Tax Credit ("LIHTC") investments by $400 million. • Closed on $76 million of the $500 million commitment to affordable housing preservation funds. • Provide more than $300 million in additional financing to Community Development Financial Institutions ("CDFIs") to support communities that lack access to traditional financing. • Target an additional $100 million in New Markets Tax Credit ("NMTC") investments with a focus on Black-owned or -led projects primarily serving Black populations. • Invest in Vital Community Institutions and Services. • Provided more than $190 million in incremental financing to CDFIs. • Established a new Racial Equity Initiative, which uses NMTC investments to spur growth and inclusion. Since 2020, the Firm has funded $221 million in new projects related to that effort. INVEST IN MINORITY DEPOSITORY INSTITUTIONS AND COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS • Invest up to $50 million (later increased to $100 million) –in the form of capital and deposits to Black, Hispanic and Latino-owned or -led Minority Depository Institutions ("MDIs") and CDFIs. • Invested more than $100 million of equity in 15 diverse-owned or -led MDIs and CDFIs that collectively serve more than 89 communities in 19 states and the District of Columbia. 22 INTRODUCTION ENVIRONMENTAL SOCIAL Feature: Our Commitment to Racial Equity Diversity, Equity & Inclusion Human Capital Inclusive Growth GOVERNANCE ESG REPORT APPENDICES