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    2017 Annual Report MetLife Foundation

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    MetLife Foundation— 2017 ANNUAL REPORT 2017 at a Glance $40million Total Giving* Grant Partners** 184 Our Approach Volunteer Hours >66 K Countries Since 1976, MetLife Foundation has provided more than $783 mil- lion in grants and $70 million in program-related investments to make a positive difference for the individuals, families, and com- munities we serve. Through all of our work—grant-making, vol- Represented 42 unteer engagement and impact investing—our goal is to build *Total giving reflects contributions from MetLife Foundation only. An additional $5 million in contributions were made by MetLife healthier and stronger communities worldwide. Foundation Korea, Fundación MetLife México and MetLife in 2017. **Figure does not reflect multiple contributions to certain grantees’ In 2013, MetLife Foundation set out to significantly focus our re- local affiliates (e.g. United Way, Junior Achievement, and Habitat sources on advancing financial inclusion globally—leveraging for Humanity) or volunteer and matching gift grantees. MetLife’s nearly 150 years of experience as a financial services leader. We recognize that with the right financial knowledge and tools, low-income people and communities are able to more effec- tively manage their day-to-day cash flow, navigate life’s challeng- es, and plan for the future. By the end of 2017, the Foundation had Financial Inclusion Total 2017 MetLife provided grantees with $170 million to advance this cause, and we at a Glance 2013 - 2017 Foundation Giving remain on track to fulfill our $200 million commitment in 2018. The insights we are gaining from our non-profit, social enterprise, and other partners play an integral role in shaping plans for our future initiatives to drive financial health and well-being for low-income populations worldwide. 24% Supporting Total commitments to Low-income While financial inclusion grants represent the majority of the Foun- financial inclusion to date individuals reached $40 Local Communities* dation’s annual grant-making, we also continue to uphold our long- $170 million 6 million million standing commitment to support the needs of local communities where we operate through grant-making in areas such as health and medical research, education, and disaster relief. MetLife em- At MetLife Foundation, we support low-income individuals and communities on their journey toward financial health 76% Financial Cover Photo: Customers visit ployees’ volunteer hours are also a major reason for our success and well-being—no matter where they stand today. We Inclusion a branch of Listo, a financial and reach. They volunteer their time to get involved with the Foun- believe that financial inclusion—meaning that all people services provider focused on have access to high quality, safe, convenient, and afford- credit and insurance products dation’s financial inclusion and community development work, le- able financial services—is the first step on that journey. We *MetLife Foundation supports the needs of local communities for Hispanic Americans–45 veraging their many talents for social purpose. partner with trusted organizations that create and expand through grant-making, program-related investments and percent of whom are unbanked volunteer activities in a variety of areas including health and or underbanked. MetLife In the pages that follow, we are pleased to share key highlights on financial access, as well as help clients build the knowl- medical research, education and disaster relief. Foundation partner Acumen edge, capability, and habits needed to improve their finan- America invests in innovative the progress and impact we made in 2017. We are proud of the pos- cial well-being. Ultimately, our goal is to help low-income companies like Listo which itive outcomes our partners and volunteers have helped us achieve people and communities more effectively manage their aim to deliver quality financial products to low-income and—recognizing that the work is never done—look forward to day-to-day cash flow, navigate life’s challenges, and plan households. enhancing and scaling our initiatives in the years ahead. for the future. All figures are in US dollars. 2 3

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    MetLife Foundation— 2017 ANNUAL REPORT MetLife Foundation Financial Inclusion Commitments (2013-2017) Our Focus on Financial Inclusion MetLife Foundation aims to improve the financial health and inclusion of low-income individuals across the globe by creating access to financial products and services that are high quality, safe, convenient, and affordable to help people achieve their goals. Ultimately, our aim is to help low-income people and communities more effectively man- age their day-to-day cash flow, navigate life’s challenges, and plan for the future. Through our work and the work of our partners, we have UNITED STATES LATIN AMERICA EUROPE, MIDDLE ASIA TOTAL seen successes in the use of digital technology and behav- EAST AND AFRICA ioral economics to expand access to—and effective use of—financial services. In 2017, we increased our focus on investments in these areas. Committed 64 M $ 31 M $ $15M $50M 160M $ * Our commitments and partnerships have generated valu- able lessons which we share with the financial inclusion Partners 57 32 20 48 157 community and apply to continually improve the design of new grants. Individuals Reached 1.2 M 776K 232K 3.8M 6.0M *$10 million of global grants, 6% of total contributions, not depicted regionally. Total Commitments through 2017: $170 Million 4 5

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    MetLife Foundation— 2017 ANNUAL REPORT Our Focus on Financial Inclusion Our Focus on Financial Inclusion Applying Technology and MetLife Foundation partner Trickle Up implements a program called Graduation to help ultra-poor women learn how to save, access credit, and build new skills Innovation for Greater Impact to improve their livelihoods. Featured here, women disburse small loans at a savings group meeting in West Bengal, India. To deliver safe, affordable and convenient financial services at scale—and meet changing expectations around speed and ease of use—the financial inclusion community is taking full advantage of new technologies, reimagining product design beyond “one size fits all,” and experimenting with new business models. Global: Inclusion Plus MetLife Foundation partners with Verb, a social innovation platform, to produce a global competition series that brings together social en- trepreneurs, financial inclusion experts and MetLife employees volun- teering their time to advance financial inclusion. Inclusion Plus originally launched in Ireland, China and India. In 2017, the program expanded to Mexico, Egypt, Lebanon and Bangladesh. To date, more than 350 social ventures have competed, and over 400 MetLife employees volunteered their time to serve as judges and mentors—contributing more than 3,500 volunteer hours. United States: The Financial Clinic The Financial Clinic enables other nonprofits to offer financial advice and guidance to their clients. In 2017, MetLife Foundation expanded our partnership with The Financial Clinic, committing $2.5 million to scale its digital financial coaching platform, Change Machine, across workforce development agencies. To date, the Clinic and its partners have returned nearly $90 million in resources and assets to more than 75,000 low- and moderate-income individuals. Asia: United Nations Capital Development Fund (UNCDF) and MicroSave — Innovation and Learning Program Across Asia, MetLife Foundation is working with UNCDF and MicroSave on an Innovation and Learning Program known as I3 - Innovate Imple- ment Impact. Through this initiative, UNCDF and MicroSave will work with financial services institutions and fintech companies across China, Malaysia, Bangladesh and Vietnam to drive innovation and digital trans- formation to reach and better serve low-income populations with a full suite of products to improve financial health. 6 7

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    MetLife Foundation— 2017 ANNUAL REPORT Our Focus on Financial Inclusion Our Focus on Financial Inclusion Leveraging Behavioral Economics Advancing New Insights and to Drive Positive Change Sharing What We Learn To encourage healthier financial behavior among their customers, MetLife Foundation and our grantees continuously share lessons learned financial institutions must first understand why people make certain in order to improve our work and to advance the knowledge of the global decisions. By applying behavioral insights to their product offerings financial inclusion community. With our partners, we prepare white and service approach, our partners are helping clients spend less papers, publish articles, and sponsor and appear at conferences. and save more. United States: Center for Financial Services Innovation Latin America: ideas42 (CFSI) ideas42 is a nonprofit behavioral science firm that leverages what we know about CFSI is a think tank and network of financial services organizations focused human behavior to design innovative solutions to difficult problems. In Latin Ameri- on improving the financial health of low-income populations. For the past ca, ideas42 worked with MetLife Foundation to explore the underlying factors con- three years, MetLife Foundation has funded CFSI’s efforts to lead a paradigm tributing to a widespread lack of retirement savings among working adults. They shift from “financial inclusion” to an outcomes-oriented framework of “fi- then designed and tested interventions to promote larger and more frequent re- nancial health”—changing the way financial institutions design products and tirement contributions. In Mexico, ideas42 redesigned client account statements services and measure the impact of those products on their customers’ finan- for retirement fund administrators—which collectively reach 21 million Mexican cial health. In 2017, the Foundation launched a new three-year partnership to citizens—to incentivize clients to take the steps needed to prepare for retirement. continue support for CFSI which will focus on strengthening and promoting financial health with a wider community globally. United States: Common Cents Lab, Duke University Global: Multipliers of Prosperity and NextBillion Housed at the Center for Advanced Hindsight at Duke University and exclusive- MetLife Foundation sponsors and partners with online platforms that are ly funded by MetLife Foundation, Common Cents Lab tests interventions to help leading the conversation around financial inclusion and health. households increase their financial well-being. The lab—composed of behavioral • Developed in partnership with Wall Street Journal Custom Studios, economists, social scientists, and technologists—undertakes experiments to un- Multipliers of Prosperity is an award-winning thought-leadership plat- derstand and improve financial decision-making among low-income Americans. form that features content and videos on the latest financial inclusion The Lab has partnered with fintech companies, credit unions, banks, and nonprof- and health insights, programs, and strategies from MetLife Foundation’s its, resulting in more than 500,000 low-income Americans reached with better fi- grantees. nancial services. • NextBillion is a community of business and nonprofit leaders, social en- trepreneurs, policymakers, and other stakeholders who are chronicling Vietnam: BFA Global and the Capital Aid Fund for Employment trends in market solutions to poverty that reach the “base ofthe pyr- of the Poor (CEP) – OPTIX Program amid:” the world’s four billion low-income people. With support from OPTIX aims to improve how financial institutions can be a one-stop shop for finan- MetLife Foundation, NextBillion has relaunched the “Financial Health” cial services for low-income people. Working in four countries in Latin America and section of its website. Asia, OPTIX aims to increase convenience and affordability for customers taking advantage of multiple financial products that are relevant to their needs, such as Global: Gallup savings and borrowing services in one institution. In Vietnam, BFA works with the Gallup launched the first global survey to assess the financial health of in- CEP, a nonprofit lending institution, to apply marketing science insights to improve dividuals, interviewing more than 15,000 people across 10 countries. The its product offerings and promotion strategy to enable low-income borrowers to goal of the survey is to accumulate a robust data set that helps the industry take advantage of a wider range of savings products. understand consumer financial health across a range of markets and demo- graphics. The survey data will be shared with the public and may be used to inform future decision making among researchers, policymakers, and other stakeholders. 8 9

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    MetLife Foundation— 2017 ANNUAL REPORT Supporting Local MetLife Employees Communities Fundación MetLife México has committed $900,000 in funding to support the individuals and communities impacted by the as a Force for Good MetLife volunteers help Habitat for Humanity renovate a house in devastating earthquakes that Warsaw, Poland. struck the country in September. MetLife volunteers are a vital component of the Foundation’s commitment to social impact. MetLife Foundation is involved in a variety of grant-making ventures that Through hands-on and skills-based volunteering, they are building healthier, more resilient positively affect communities around the world. These include grants in communities. areas such as: health and medical research, arts and culture, disaster relief, community improvement, youth and education, and diversity and inclusion. In 2017, MetLife volunteers provided more than 66,000 hours of service, with 45 percent of the These grants totaled $11.6 million in giving by MetLife Foundation, MetLife, hours supporting the Foundation’s global financial inclusion focus. Twenty-eight percent of volun- Fundación MetLife México, and MetLife Foundation Korea in 2017. teer hours were skills-based, with volunteers sharing their knowledge and professional skills with organizations working to increase financial well-being and bringing vital services to those in need. United States & Mexico: Disaster Relief In 2017, hurricanes and earthquakes caused devastating damage in areas in- Global: Habitat for Humanity International cluding Florida, Mexico, Puerto Rico, and Texas. Not only did MetLife’s em- A home is many families’ biggest financial asset. By obtaining a home, stabilizing ployees overcome disruptions in their own lives to serve MetLife’s custom- living expenses, and managing the cash flows necessary to maintain a home, low-in- ers and help their communities recover, but MetLife Foundation responded come families can improve their financial health and well-being. Through MetLife with financial support for relief and recovery. The Foundation contributed Foundation’s global partnership with Habitat for Humanity International, MetLife $632,000 to the American Red Cross following Hurricanes Harvey, Irma, and volunteers build, repair, and renovate homes for low-income families. In 2017, volun- Maria. Fundación MetLife México committed $900,000 to respond to the dev- teers in 14 countries provided more than 9,000 hours to Habitat, and MetLife Foun- astating earthquakes that struck the country in September. The funding will dation contributed nearly $700,000 in financial support. In its first Habitat project, help rebuild 70 homes and 12 schools across affected communities. MetLife Korea mobilized employees, sales representatives, and customers to build a house in Kangwon province. In Raleigh, North Carolina, more than 600 volunteers participated in Build-a-Block, an historic partnership between Habitat Wake County and North Carolina State University to build affordable townhomes. Bangladesh: Bankers without Borders and Shakti Foundation In Bangladesh, a MetLife volunteer team used their professional expertise to help Shakti Foundation, an organization focused on empowering low-income women. With Shakti representatives, the team brainstormed solutions and developed rec- ommendations to enhance Shakti’s digital literacy and entrepreneurship program, expand it to more women, and make it self-sustaining. The project was managed by Bankers without Borders, a program that leverages private-sector talent to support poverty-focused social enterprises. 10 11

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    GRANT LISTING 2017 MetLife Foundation Giving* Disaster Relief Diversity & Inclusion Verb via Austin Community Foundation 1,339,000 American Red Cross 632,000 All Stars Project 50,000 Financial Inclusion VeteransPlus 250,000 Grants 10,000 and under 4,380 American Corporate Partners 75,000 17 Triggers via Rockefeller Philanthropy Advisors (RPA) 18,025 Village Capital 530,000 Disaster Relief Total 636,380 Ballet Hispanico of New York 125,000 Access India via RPA 19,570 Grants 10,000 and under 22,560 Blue Star Families 150,000 Accion International 1,509,459 Financial Inclusion Grant-Making Total 30,204,850 Youth & Education Boys & Girls Clubs of America 150,000 Accion, the US Network 625,000 Asian University for Women 250,000 Bunker Labs 125,000 Acumen Fund 2,250,000 Bring Me a Book 20,250 Canine Companions for Independence 25,000 ARC of the United States 100,000 Supporting Local Communities New Leaders 125,000 Community Hope 20,000 Aspen Institute 960,000 Health & Medical Research New Teacher Center 100,000 Four Block Foundation 15,000 Borough of Manhattan Community College Foundation 25,000 Cyprus Anti-Cancer Society via RPA 20,600 Partners of the Americas 271,500 Home Base 75,000 BURO via RPA 12,975 Damon Runyon Cancer Research Foundation 325,000 Room to Read 150,000 Human Rights Campaign Foundation 35,000 Center for Financial Services Innovation 1,379,209 Hospital for Special Surgery 200,000 YoungMinds via RPA 20,600 Local Initiatives Support Corporation 100,000 Community Reinvestment Fund 500,000 Memorial Sloan Kettering Cancer Research Center 330,000 Grants 10,000 and under 23,500 National FFA Foundation 22,000 Consultative Group to Assist the Poor 175,000 University of Pennsylvania - BRCA-related cancers 15,000 Youth & Education Total 960,850 Opportunity Network 25,000 Duke University Common Cents Lab 2,274,100 Health & Medical Research Total 890,600 PFLAG 40,000 EARN 250,000 Community Improvement SAGE 50,000 Emprender via RPA 217,413 Arts & Culture Aeris Insight 25,000 Semper Fido 15,000 European Microfinance Network via RPA 18,540 Afro-American Cultural Center 75,000 Bedford Stuyvesant Restoration Corp 13,000 United Negro College Fund 50,000 Family Independence Initiative 250,000 Americas Society 75,000 Breaking Ground 100,000 USO of Metropolitan New York 75,000 Fundación Capital 250,000 Brooklyn Academy of Music 25,000 Capital Sisters International 25,000 Grants 10,000 and under 52,650 Rockefeller Philanthropy Advisors (for Gallup financial health 750,000 Carnegie Hall 25,000 survey) CASA of Morris & Sussex Counties 15,000 Diversity & Inclusion Total 1,274,650 Chamber Music Society of Lincoln Center 25,000 Girl Scouts of the USA 220,500 Communication without Barriers via RPA 25,750 Dayton Art Museum 15,000 Habitat for Humanity International (multiple locations) 689,803 Community FoodBank of New Jersey 30,000 Employee Involvement EMCArts 50,000 Inclusion Plus Finalists via King Baudouin 71,925 CRY India via RPA 15,450 KaBOOM! 155,900 Hellenic Children’s Museum via RPA 41,200 Inclusion Plus Finalists via RPA 139,050 Encore.org 50,000 Local United Ways 50,000 Japan Society 85,000 Inter-American Development Bank 1,050,000 Equal Justice Works 25,000 Matching Gifts for Higher Education 421,394 Lincoln Center for the Performing Arts 250,000 Junior Achievement Worldwide (multiple locations) 1,479,239 Feeding America Tampa Bay 20,000 Scholarship Programs for Employees’ Children 1,257,860 Lower East Side Tenement Museum 20,000 Kiva Microfunds 375,000 Foundation for the Carolinas 25,000 Special Olympics 150,000 Marbles Kids Museum 72,100 LIFT 250,000 Fundación Aladina - Spain via RPA 15,450 Various Charities with an Employee Volunteerism Component 715,886 Metropolitan Museum of Art 100,000 Microfinance Information Exchange 650,000 Harlem Educational Activities Fund 15,000 Employee Involvement Total 2,751,040 * Museum of Science & Industry 25,000 MicroSave via RPA 1,347,200 Independent Sector 15,000 New York Botanical Garden 200,000 Mission Asset Fund 250,000 Integration Foundation via RPA 22,660 Supporting Local Communities Grant-Making Total 9,681,530 New York City Ballet 15,000 MyPath 250,000 Living Cities 100,000 New York Hall of Science 20,000 National Federation of Community Development Credit 400,000 Local Initiatives Support Corporation 210,000 Financial Inclusion Grant-Making Total 30,204,850 Unions New York Public Library 15,000 Neighborhood Housing Services of New York City 50,000 Opportunity International 459,150 New York Public Radio 50,000 New York City Partnership 70,000 Total MetLife Foundation Grants 39,886,380 Robin Hood Foundation 500,000 North Carolina Symphony 25,000 Police Athletic League 25,000 SEEP Network 50,000 Project Arts Centre via RPA 30,900 Regional Plan Association 15,000 Providence Children’s Museum 15,000 *$2,257933 in grants provided to Habitat for Humanity International (multiple Sesame Workshop 4,000,000 Rhode Island Community Food Bank 20,000 locations), Junior Achievement Worldwide (multiple locations), and TECHO Swisscontact 375,000 Public Theater 25,000 listed in the Financial Inclusion Grant-Making section also relate to Employee SAFE Ireland via RPA 20,600 Involvement projects. With these grants included, Employee Involvement proj- Taproot Foundation 500,000 Tampa Bay Performing Arts Center 15,000 ects total $5,008,973. Salvai Copiii Romania via RPA 30,900 The Financial Clinic 350,000 Grants 10,000 and under 50,000 Special Olympics 500,000 Trickle Up 1,742,041 Arts & Culture Total 1,344,200 Trust for Public Land 192,000 TECHO 88,891 ULI Foundation 12,500 United Nations Capital Development Fund 1,200,000 Youth INC 12,500 United Way Hungary via RPA 41,200 Grants 10,000 and under 128,000 Community Improvement Total 1,823,810 *ALL FIGURES SHOWN IN US DOLLARS. 12 13

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    MetLife Foundation— 2017 ANNUAL REPORT BOARD OF DIRECTORS OFFICERS Steven Goulart Counsel & Secretary Treasurer, MetLife Foundation Theresa J. Baker Executive Vice President & Chief Investment Officer Vice President & Associate General Counsel, Legal Affairs Michel Khalaf Controller President, U.S. Business & Europe, Middle East & Africa Michael Yorick Vice President, Financial Management Group Esther Lee Executive Vice President & Global Chief Marketing Officer Assistant Treasurer Martin Lippert Stacey M. Lituchy Executive Vice President, Global Technology & Operations Vice President, Investments Susan Podlogar Executive Vice President & Chief Human Resources Officer Oscar Schmidt President, Latin America A. Dennis White President & CEO, MetLife Foundation Michael Zarcone Chairman, MetLife Foundation Looking Executive Vice President, Corporate Affairs Ahead Through all of our work, we continue to learn, grow, and apply new insights about how to create the most significant impact for the communities we serve. As we close out 2017, we look forward to building on our successes and continuing to make a meaningful difference in the lives of millions of individuals and families across the globe. MetLife Lean Management volunteers partnered with New York City-based nonprofit social enterprise Hot Bread Kitchen to scale the admissions process for its Bakers in Photography: Front cover courtesy of Listo; page 6 courtesy of Trickle Up; pages 10 and Training program. The program provides culinary and workforce readiness training for 11 courtesy of MetLife; page 14 courtesy of Hot Bread Kitchen; page 15 stock photography. women facing economic insecurity. Graduates are placed in fair wage positions with access to benefits and opportunities for advancement. 14 15

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    MetLife Foundation 200 Park Avenue New York, NY 10166 www.metlife.org | © 2018 METLIFE, INC.

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