Associated Bank Releases 2023 Sustainability Report

Associated Banc-Corp (NYSE: ASB) ("Associated") has released its 2023 Sustainability Report. This annual report highlights the company's progress on sustainability initiatives and related priorities. The report includes key accomplishments that demonstrate Associated Bank's commitment to being a responsible business and creating long-term value for customers, communities and colleagues.

"We recognize the important role we play in the lives of our customers, the careers of our colleagues, the future of our communities and the continued confidence of our shareholders," said Andy Harmening, president and chief executive officer at Associated Bank. "Our careful approach to governance and sound policies-an approach shaped by experience spanning over 160 years of economic cycles-further reinforces our commitment to building a brighter, more vibrant Midwest."

Key highlights from the report include:

Community Commitments & Investments:

• $437 million in residential loans to support low- to moderate-income (LMI) and minority homeownership. This represents 2,779 residential mortgages that have helped families obtain homes.
• $194 million in community development loans and investments to create affordable housing options, provide community services and promote community development throughout our footprint.
• $107 million in loans to small businesses to LMI and minority communities.
• Over 3,350 colleagues, or 81% of the Associated workforce, collectively recorded more than 71,100 hours of volunteer time.

Colleague Experience:

• 62% middle and executive management diversity and 40% Board of Directors diversity as defined by gender, race or ethnicity based on colleague and director self-reporting.
• Four out of five colleagues believe they are supported in all aspects of their well-being.
• 20% of colleagues advanced their careers through nearly 850 internal promotions or lateral moves.
• More than 50% of colleagues participate in one or more affinity groups called Colleague Resource Groups (CRG). In 2023, Associated provided more than 110 unique diversity, equity and inclusion (DE&I) and CRG programs.

Customer Experience:

• Internal customer satisfaction survey results showed the branch experience maintained a record-high 90% "completely satisfied" score, reflecting the strength and efforts of Associated's team.
• Since launching the new online and mobile platforms in the fall of 2022, these digital-forward investments deliver a better experience for customers, driving a four-year high in digital satisfaction in 2023.

Environmental Sustainability:

• Saved 300 short tons in waste through document shredding efforts which not only protected the environment but customers' security at the same time. Additionally, 79% of customers opted to receive information electronically, helping reduce paper waste.
• Approximately $1.7 billion in outstanding credit commitments to develop, construct and operate more than 190 wind, solar, battery, hydroelectric and geothermal generating facilities across North America.

Governance:

• Established a Third-Party Code of Conduct which sets forth expectations that third parties Associated Bank works with uphold the highest standards of ethics and comply with all applicable laws and regulations.

In this past year, Associated was named one of America's Most Trustworthy Companies by Newsweek; selected for various Top Workplace awards by Energage and honored for hiring of veterans by Military Times and U.S. Veterans Magazine. In March of 2024, Associated was ranked #1 by J.D. Power for Retail Banking Customer Satisfaction in the Upper Midwest Region.*

The report covers the period of January 1, 2023, through December 31, 2023, except where noted. Metrics reported are intended to align with the Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD) and the EEO-1 Demographics indices.

Associated's Sustainability Report is available at Investor.AssociatedBank.com under the Sustainability tab.

*Associated Bank received the highest score in the Upper Midwest Region in the J.D. Power 2024 U.S. Retail Banking Satisfaction Study of customers' satisfaction with their primary bank. Visit jdpower.com/awards for more details.

ABOUT ASSOCIATED BANC-CORP

Associated Banc-Corp (NYSE: ASB) has total assets of $42 billion and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services f

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