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Sustainability For Our For Our Creating Value For the For Our Managing Appendix at MetLife Workforce Customers as an Investor Environment Communities Responsibly MANAGING CLIMATE RISKS modeling and climate risk analysis of the U.S. energy portfolio. Climate risks, both physical and transition MetLife has also established a Climate risks, could impact MetLife’s business Risk Working Group (CRWG) in Europe, operations, investments, customers and comprising principally members of our supply chain. These risks, as well as Executive Management Committee to associated opportunities, are identified, develop a comprehensive approach to measured, monitored, managed and managing climate risk for MetLife Europe reported to MetLife’s Board of Directors, and MetLife Europe Insurance. when appropriate, through our enterprise- wide risk management framework. We have integrated climate risks into our investments Sustainable Financing Framework underwriting standards, conducted a qualitative risk assessment and are developing quantitative scenario analysis MetLife’s Sustainable Financing Eligible assets are subject to a review capabilities. We have plans to build on our Framework facilitates alignment of our consistent with MetLife’s policies, including work and measure the carbon intensity business and investment activities to MIM’s ESG Investment Policy. of our investment portfolio and develop drive a sustainable future (see Creating As part of the Framework, MetLife has metrics, including stress tests and scenario Value as an Investor).The Framework committed to publishing an annual analysis, to assess climate risks. guides our issuances of green, social and Sustainable Financing Report, which sustainable bonds, term loans, preferred includes a summary of outstanding In 2022, MetLife launched a global stock, subordinated notes and funding Climate Advisory Council to enhance our agreements by MetLife, Inc. and its MetLife Sustainable Financing issuances, governance of climate risk. The Council subsidiaries, including Metropolitan Life including issuance date, size, maturity is chaired by our Chief Risk Officer and Insurance Company and Metropolitan date, currency and format. The 2021 includes our Chief Financial Officer, Chief Tower Life Insurance Company. Sustainable Financing Report is available Investment Officer, General Counsel, Chief on our website. Auditor, Head of Investor Relations and MetLife’s Sustainable Financing Council, Learn more about the Framework and other executive-level and management- comprising members from the Office of see Creating Value as an Investor for level staff. the Chief Investment Officer, Corporate information regarding two issuances Treasury and Global Sustainability functions, completed in accordance with MetLife’s To date, the council has addressed topics meets regularly and is responsible for the including climate regulation, climate risk review and selection of eligible assets. Sustainable Financing Framework. 2021 SUSTAINABILITY REPORT 85

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