American Express : 2024 Sustainability Financing Report

The Powerful

Backing of

American Express

2024 Sustainability Financing Report

Table of Contents
Introduction	3
Company Overview	4
ESG Strategy	5
ESG Mission and Pillars	6
Eligible Project Categories	7
Use of Proceeds	10
Key Highlights	11
Total Net Proceeds Allocation	12
Total Impact Metrics	13
Spotlight Projects	14
Report of Independent Accountants	18
Management Assertion	19

2024 Sustainability Financing Report

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Introduction

Company Overview

American Express is a globally integrated payments company, providing customers with access to products, insights, and experiences that enrich lives and build business success. Our integrated payments platform includes card-issuing, merchant- acquiring, and card network businesses. We are a leader in providing credit and charge cards to consumers, small businesses, mid-sized companies, and large corporations around the world. We continue to work

to make a positive difference for our colleagues, customers, and communities.

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ESG Strategy

At American Express, our Environmental, Social and Governance (ESG) mission is to back people and businesses to thrive and create equitable, resilient, and sustainable communities globally. We seek to mobilize our business to address pressing global challenges and deliver high impact initiatives that serve our colleagues, customers, and communities.

In 2021, we launched a new roadmap for our global ESG strategy, establishing new long-term goals and objectives across three critical areas for our company, stakeholders, and society: Build Financial Confidence; Advance Climate Solutions; and Promote Diversity, Equity, and Inclusion (DE&I).

In 2022, we released our Sustainability Financing Framework(the Framework) and issued $1 billion principal amount of 4.050% Notes due May 3, 2029 (the Sustainability Notes) in support of our ESG strategy to invest in projects to help achieve these goals.

For more information about corporate sustainability at American Express, please visit go.amex/esg.

2024 Sustainability Financing Report

Our ESG Mission

Back people and businesses to thrive and create equitable, resilient, and sustainable communities globally.

Our ESG Pillars

Build Financial Confidence

Provide responsible, secure, and transparent products and services to help people and businesses build financial resilience.

Advance Climate Solutions

Enhance our operations and capabilities to meet customer and community needs in the transition to a low-carbon future.

Promote Diversity, Equity, and Inclusion (DE&I)

Support a diverse, equitable, and inclusive workforce, marketplace, and society.

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Eligible Project Categories

Eligible Social Project Categories

The Eligible Social Project categories to which the net proceeds of the Sustainability Notes may be allocated are summarized below. Please refer to the Frameworkfor more information on these categories.

Access to Essential Services

Credit Access for Underrepresented Groups

Expanding access to financing products and advancing economic opportunity and equity by supporting the businesses of underserved populations. This includes extending credit and Card Member offers and related marketing efforts to diverse business suppliers and vendors at least 51% owned by members of diverse populations (these suppliers and vendors are also referred to as underrepresented-owned), independently certified through a qualified agency.

Socioeconomic Advancement & Empowerment

Supplier Diversity Program

Expenditures and program expenses related to driving economic growth among diverse groups through the procurement of products and services from diverse business suppliers and vendors at least 51% owned by members of diverse populations (these suppliers and vendors are also referred to as underrepresented-owned), independently certified through a qualified agency.

Investments in programs that empower diverse and/or small businesses through technical assistance, capacity building, and mentoring programs.

Merchant Support Programs

Expenditures and program investments related to driving consumer spending at small and medium-sized independent businesses.

Affordable Housing

Community Development

Investments in funds and securities that aim to provide affordable housing through our American Express Center for Community Development.

Financial Empowerment Programs

Expenditures and program investments in targeted initiatives providing financial support and education for small businesses and entrepreneurs from historically underrepresented groups.

Community Development

Investments in funds and securities that aim to provide economic development through our American Express Center for Community Development.

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Eligible Green Project Categories

The Eligible Green Project categories to which the net proceeds of the Sustainability Notes may be allocated are summarized below. Please refer to the Frameworkfor more information on these categories.

Circular Economy

Investments and expenditures related to the procurement and fabrication of recycled material for our American Express Consumer and Business Cards.

Investments and expenditures related to the operations and infrastructure requirements for Consumer and Business Card recycling initiatives.

Investments and expenditures in waste and recycling initiatives across operations, including managed facilities.

Energy Efficiency & Renewable Energy

Energy Efficiency Improvements

Investments and expenditures related to the design, construction, operation, and maintenance of energy-efficient facilities and infrastructure, detailed as operational improvement and capital projects with projected energy savings of at least 30%.

Renewable Energy

Capital expenditures and investments related to the construction, development, acquisition, maintenance, and operation of renewable energy projects via solar and wind power.

Green Buildings

Investments and expenditures related to the acquisition and/or leasing of buildings, the development and construction of new building projects, and/or renovations/retrofits of existing buildings that have received

a third-party verified certification, or have reached substantial completion, and are in progress of achieving relevant certification with a third party.

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Use of Proceeds