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    2016 Annual Report

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    MetLife Foundation— 2016 ANNUAL REPORT MetLife’s business success throughout its nearly 150-year history has been based on helping our customers successfully navigate life’s financial challenges. We are proud that MetLife Foundation’s financial inclusion initiative is helping people around the world do the same. The Foundation’s initiative has now helped 1.5 million people in 39 countries gain access to financial products, services, and institutions that they need to build better and more secure lives. At the same time, the Foundation is advancing our understanding of how we can best help people make sound decisions about the financial choices they face in life. Steven A. Kandarian We are also proud that the Foundation Chairman, President & CEO of MetLife, Inc. continues to honor MetLife’s longstanding commitment to the communities where we Steven A. Kandarian do business through its support for arts and Chairman, President & CEO of MetLife, Inc. cultural organizations, health research, and community development. Financial inclusion means that households and businesses have convenient access to a full range of quality, affordable financial services, delivered by trustworthy providers who treat customers with respect. These services enhance financial well-being, enabling more people to manage life’s risks, seize its opportunities, and pursue their dreams. On the cover: Maria de Jesus lives in a rural community in Sogamoso, Colombia. She is a client of Fundación delamujer, the Colombian partner of MetLife Foundation grantee Women’s World Banking, and uses credit products specifically designed for rural women. Photo courtesy of Women’s World Banking, used with permission. 2

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    Mike Zarcone A. Dennis White Chairman, MetLife Foundation President & CEO, MetLife Foundation When MetLife Foundation launched our inclusion grants. This report describes a selection financial inclusion strategy in 2013, the financial of our work to illustrate how we are making an inclusion industry was beginning to show that impact. We want to ensure that more people a well-coordinated global effort could produce have all the financial tools they need and know impressive results. We saw that more than 2 how to use them to help make their dreams a billion people lacked access to formal financial reality. We want to strengthen the capacity of services. But we also saw how steadily that gap financial services providers to understand their was being closed. Financial services providers, customers and deliver what they need in a way investors, donors, regulators, and many other that is sustainable for the providers, and is safe, parties were collaborating to bring more and affordable, and effective for customers. And we better financial services to massive numbers want to build the knowledge of the industry. of unserved or underserved people. Digital We learn from every grant we make, and are technology was making it possible to expand committed to sharing those lessons. financial service as never before, even to MetLife Foundation is deeply encouraged by the geographically isolated and very low-income progress that the industry is making globally and communities. in individual markets. While we know that there is In 2016, the Foundation made USD 43 million in still much work ahead, we look forward to a future contributions, with 70 percent going to financial that is financially secure for all. Inspired by the Foundation's commitment to accelerating financial inclusion globally, MetLife associates collectively volunteered more than 90,000 hours of service, a 25 percent increase from 2015. 3

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    MetLife Foundation— 2016 ANNUAL REPORT Why does financial inclusion matter? The right financial services can make all the difference. For families. For financial institutions. For communities. For families, financial inclusion means having the tools to manage money, deal with setbacks, and seize opportunities. Affordable credit—whether it’s a mortgage or a student loan or capital to start a business—can be what turns a dream into a concrete plan for a better future. A savings account can be that all-important first step on the path to a more secure future. Insurance can keep a problem from spiraling into a devastating crisis. Long-term investments and pension savings can ease the vulnerability that comes with aging. For financial institutions, financial inclusion means reaching a larger pool of customers and serving those customers over the long term. New digital channels and business models are affordably delivering more and better services to more people – nearly 1 billion of whom are new users of formal financial services. For communities, financial inclusion means reaching the majority. In many countries, the majority of the population remains outside the formal financial system. Financial inclusion means bringing them into that system and making sure it works for them. When effective financial services help the majority achieve their goals, whether to educate children, pursue better health and nutrition, improve property, start or expand a business, or build savings, entire communities stand to benefit. 4

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    Like many small businesses, London- based Poached Creative does not have limitless reserves to meet payroll and other expenses if projects get delayed or clients pay late. CEO Jessica Smith says that MetLife Foundation grantee Fair Finance’s “human approach to lending” fills an important financial need. Read their story on page 7. Our Approach MetLife Foundation designed its financial inclusion strategy after extensive consultation with global leaders in the industry. We wanted to ensure that our work built on, rather than duplicated, efforts already underway. And we wanted to take full advantage of our strengths: the Foundation’s global reach, MetLife’s years of expertise and stability as one of the largest insurance companies in the world, and the support of thousands of MetLife associates eager to volunteer with the Foundation. That work ultimately aims at ensuring that low-income people all over the world have financial services that are safe, affordable, convenient, and effectively designed to help them achieve their goals. Many of our larger grants have been underway for two or three years. They have generated valuable lessons which we have shared with the financial inclusion industry and which have shaped how we design new grants. This year, we are highlighting the work of some of our partners who are building customers’ financial capability, exploring innovative approaches, and using insights from behavioral economics to understand and improve real-world financial behaviors. 5

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    MetLife Foundation— 2016 ANNUAL REPORT Building financial capability Financial capability means clients know how to manage their finances and have all the right tools to do so. It means they use safe, affordable, and effective financial services to achieve their goals. GLOBAL BFA (formerly Bankable Frontier Associates) Well-run financial institutions make a point of asking their customers directly how they can serve them better. The five institutions in Bangladesh, Chile, Colombia, Mexico, and Vietnam with which MetLife Foundation grantee BFA is working are no exception. But like many financial institutions, the BFA partners also have vast stores of valuable information already in hand about customers’ potential needs and preferences in the form of raw data about their past transactions. Expert data analysts from BFA are helping these institutions unlock that value and better understand their customers’ financial needs by studying patterns in the products customers are currently using and how. These data-driven insights enable the institutions to offer the right product, or develop new products, new technology and distribution channels, that will benefit low-income customers and help build their financial capability. BFA’s work gives each of the five institutions individually a solid foundation to continuously improve products and services to meet their clients’ needs. Collectively, the BFA partner institutions generate valuable multiple perspectives because they operate in different geographies, cultures, legal forms, and regulatory environments. Studying the data and customer behavior across such diverse institutions can yield potentially important insights for the financial inclusion community as a whole. 6

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    UNITED KINGDOM UNITED STATES Fair Finance National Federation of Community The subprime financial sector—payday and Development Credit Unions car-title lenders, high-interest credit cards, Member-owned credit unions have historically provided furniture and appliance rental outlets—offers a lower-cost, customer-centric financial services financially stressed people temporary solutions alternative for working people. The member institutions that seem to solve their immediate crisis but of the National Federation of Community Development devastate their overall financial health. Fair Credit Unions (The Federation) collectively serve more Finance, an award-winning alternative lender, is than 6 million predominantly low-income Americans. a key partner in the United Kingdom providing MetLife Foundation’s support to the Pathways personal and business loans to low-income to Financial Empowerment program is one of the individuals not typically served by mainstream cornerstones of our “edu-action” philosophy: financial finance. Along with affordable credit, Fair counseling that stresses learning by doing. The success Finance emphasizes financial counseling to help of Pathway’s first phase validated that philosophy as all clients make informed decisions to improve targets were exceeded. In the pilot credit unions, clients their financial health. MetLife Foundation developed financial plans, took up products to reduce supported Fair Finance’s operational upgrades, their debt loads, and improved their credit scores. The including a new enterprise-wide customer second phase scale-up of Pathways will build on the database, to strengthen the back-office pilot’s successes, supporting 10 more credit unions and, infrastructure necessary to achieve a planned in the long term, reaching thousands of low-income ten-fold expansion in outreach. clients. CHINA Accion/The International Microfinance Management and Leadership Program In partnership with the Chinese Association of Microfinance, MetLife Foundation grantee Accion launched the first comprehensive microfinance training and capacity-building initiative in China in 2016. The first class alone drew leaders from 13 microfinance institutions (MFIs) which collectively represent 900,000 clients and 33,000 additional staff. The program combined classroom-based education with experiential learning to build participants’ leadership and management skills and develop sound technical knowledge in business operations and human resources. The training program ensured that Chinese MFIs would be able to serve low-income customers with a wide range of quality financial services. 7

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    MetLife Foundation— 2016 ANNUAL REPORT Using Technology and Innovation for Impact To deliver safe, affordable, and convenient financial services at scale, the financial inclusion community must take full advantage of new technologies. There is a need to reimagine product design beyond “one size fits all” and experiment with new business models. GLOBAL Verb/Inclusion Plus Nothing inspires innovation like competition. So MetLife Foundation teamed up with Verb, a company that specializes in social innovation, to develop a competition that brings together entrepreneurs and MetLife associates across four regions. The program launched in Ireland, China, and India, with more than 250 social ventures competing and 240 MetLife associates volunteering nearly 1,000 collective hours as mentors and judges. The entries were diverse, ranging from artificial intelligence chatbots, to insuretech startups, and even programs leveraging satellite technology. In year one, Inclusion Plus awarded grants to 10 organizations pioneering new approaches to financial inclusion. Ireland’s winner, GRID Finance, is a small business capital platform where people can lend as little as five euro to local businesses, earning a return on their investment. China’s winner, Yibao Plan, partners with insurance companies to provide tailored insurance products to nonprofit associates and low-income individuals. In year two, final winners will be announced in India, and Inclusion Plus will move to Mexico and Egypt, eventually expanding to 10 countries and providing more than USD 600,000 in grants over the life of the initiative. 8

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    Andrea Linehan and Derek Butler are among the leadership team at GRID Finance, the Inclusion Plus winner from Ireland. UNITED STATES BANGLADESH and VIETNAM Achieving the Dream/ MicroSave Working Students Success Network Digital financial services hold the key to moving mass-market financial Community colleges have historically been an services beyond “one size fits all” and to improving low-income important element of low-income Americans’ customers’ financial health. MetLife Foundation grantee MicroSave upward mobility. Working adults, recent is a world leader in digital financial services and is supporting the immigrants, and parents rely on community digital transformation of two leading financial institutions, IDF colleges for education beyond high school, (Bangladesh) and Co-Op Bank (Vietnam). MicroSave’s support includes but financial pressures keep many from comprehensive strategic planning, developing new products, and completing their degrees. MetLife Foundation deploying the right digital platforms. Over the two-year course of the supports “Achieving the Dream,” which project, more than 140,000 customers will begin transacting digitally. is bringing innovative financial products At scale, the institutions will be able to serve two million customers and approaches into community colleges. with the financial services they need to navigate life’s opportunities and Technology, integration of services into job challenges. training, financial coaching, and tailored BANGLADESH financial products are increasing students’ financial health and the likelihood that they Swisscontact will complete their studies. Along with The ready-made garment (RMG) industry is a major part of Bangladesh’s Achieving the Dream, we partner with large economy, employing more than four million workers, many of them individual community colleges (for example, young rural women for whom sending part of their wages back home LaGuardia Community College in New York), is a major priority. Swisscontact, in partnership with the Bangladesh with other networks such as the Center for Central Bank, is working with two commercial banks to help them Community College Student Engagement, develop and leverage the right technology, distribution, and suite of and with researchers who focus on those financial products for a large number of RMG workers who are currently students’ needs. without financial services. 9

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    MetLife Foundation— 2016 ANNUAL REPORT Leveraging Behavioral Economics to Drive Action Only by understanding why clients make the decisions they do can the financial inclusion community encourage healthier financial behaviors and design products and services that support healthier choices. These grants are leveraging the power of behavioral economics to drive change. UNITED STATES Common Cents Lab at Duke University Social scientists call the gap between what people know they should do and what they actually do the “intention-action” gap. Bridging that gap is important for financial health because financially self-defeating behaviors can have serious consequences. Common Cents Lab is a three-year initiative aimed at using behavioral economic insights to test innovations that can help low-income Americans make better financial decisions. The Lab, based out of Durham, North Carolina and San Francisco, California, studies solutions that can bridge the intention-action gap by understanding the complex drivers of financial behavior. 10

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    UNITED STATES Commonwealth (formerly D2D Fund) Savings is the foundation of financial security and opportunity, but for many working families it can be hard to set money aside. Indeed, nearly half of Americans do not have enough savings to manage a USD 400 emergency. To inspire working Americans to save more, Commonwealth has introduced the first national “prize-linked savings” offering via a partnership with leading providers of prepaid cards, a preferred financial tool for millions of people. Commonwealth is seeing early success. In one project, a prepaid card partner’s offer of cash prizes for saving resulted in a 130 percent spike in usage, with users saving an average of 35 percent more in the first quarter of use. MEXICO and CHILE ideas42 With support from MetLife Foundation, ideas42 is partnering with financial institutions to analyze the behavioral factors that might increase uptake of a broad range of products and services intended to improve financial health generally, including retirement planning, across the region. Insufficient retirement savings is a global problem. In Latin America, ideas42 discovered that people can’t visualize what their lives will look like after they stop working, that they are rarely prompted to think about their retirement, and that they prioritize short-term over long-term goals. In response, ideas42 designed a range of tactics, from automatic bank account deductions to individualized goal-setting exercises and public awareness campaigns. In Latin America, ideas42 discovered that people can’t visualize what their lives will look like after they stop working, that they are rarely prompted to think about their retirement, and that they prioritize short-term over long-term goals. 11

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    MetLife Foundation— 2016 ANNUAL REPORT Mapping Our Financial Inclusion Footprint 2013-2016 MetLife Foundation’s global footprint positions the Foundation to make meaningful contributions around the world to advance financial inclusion. At the same time, we remain committed to engaging in the issues that matter most to the communities where MetLife associates live and work. MetLife volunteers work with a wide range of Foundation partners - leading financial institutions, nonprofits, technical assistance providers, academics, and other social enterprises - all of whom are making an impact all over the world. United States 57 Financial Inclusion Partners USD 45,822,114 Total commitments to date Latin America 32 Financial Inclusion Partners USD 24,664,224 Total commitments to date 12

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    Financial Inclusion Partners Total Commitments to Date 170 123,142,700 * * USD Asia 48 Financial Inclusion Partners USD 34,172,026 Total commitments to date EMEA Europe, Middle East, Africa 20 Financial Inclusion Partners USD 12,414,985 Total commitments to date *Figures include USD 6,069,351 and 13 partners that contribute to multi-country initiatives. 13

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    MetLife Foundation— 2016 ANNUAL REPORT 2016 Paid* Inter-American Development Bank 115,000 Financial Inclusion MDRC 250,000 Knowledge Microfinance Centre via Rockefeller Philanthropy Advisors 51,500 Microfinance Information Exchange (MIX) 425,000 Achieving the Dream 250,000 MIDE via Rockefeller Philanthropy Advisors 145,150 ARC of the United States 100,000 National League of Cities 250,000 Borough of Manhattan Community College Foundation 25,000 OISYS via Rockefeller Philanthropy Advisors 250,000 Community Financial Resources 250,000 Rockefeller Philanthropy Advisors 58,641 Financial Clinic 250,000 SEEP Network 50,000 JA Worldwide (multiple locations) 1,610,054 Taproot Foundation 48,000 Local Initiatives Support Corporation (LISC) 500,000 University of North Carolina at Chapel Hill - 250,000 Per Scholas 250,000 Center for Community Capital Research Foundation of CUNY for LaGuardia Community 250,000 University of Wisconsin Madison - 250,000 College Center for Financial Security Robin Hood Foundation 1,000,000 William Davidson Institute at the University of Michigan 88,850 Sesame Workshop 4,000,000 (Next Billion) Trickle Up 350,000 Grants $10,000 and under 45,000 United Way Hungary via Rockefeller Philanthropy Advisors 41,200 Insights Total 6,174,431 United Way Worldwide 250,000 Knowledge Total 9,126,254 Financial Inclusion Total 30,366,706 Services Other Grant-Making Accion International 383,000 Health Accion, The US Network 1,000,000 Alzheimer’s Association 150,000 Asia Foundation 250,000 Awards for Medical Research working with American Feder- 350,000 BFA (Bankable Frontier Associates) 3,133,399 ation for Aging Research Behavioral Ideas Lab (ideas 42) 1,684,800 CaringKind 25,000 Center for Economic Progress 250,000 Damon Runyon Cancer Research Foundation 325,000 Credit Builders Alliance 250,000 Foundation for Morristown Medical Center 25,000 Duke University - Common Cents Lab 2,635,000 Havens Hospices via Rockefeller Philanthropy Advisors 70,000 EARN 250,000 Hospital for Special Surgery 200,000 Endeavor Global 150,000 Memorial Sloan Kettering Cancer Center 325,000 Grameen America 250,000 Grants $10,000 and under 10,000 Habitat for Humanity International (multiple locations) 646,830 Health Total 1,480,000 Kiva Microfunds 125,000 MicroSave via Rockefeller Philanthropy Advisors 1,061,930 Civic Engagement National Federation of Community Development Credit 500,000 All Stars Project 100,000 Unions CASA of Morris & Sussex Counties 20,000 Opportunity International 410,000 Human Rights Campaign Foundation 35,000 Pro Mujer 625,000 National Minority Supplier Development Council 80,000 Reinvestment Partners 250,000 New York City Partnership Foundation 70,000 Un TECHO 54,867 PFLAG 40,000 VilCap (Village Capital) 500,000 Regional Plan Association 25,000 Women’s World Banking 653,195 SAGE 50,000 Grants $10,000 and under 3,000 Women In Need 25,000 Services Total 15,066,021 Grants $10,000 and under 20,000 Civic Engagement Total 465,000 Insights 17 Triggers via Rockefeller Philanthropy Advisors 197,760 Veterans Access India via Rockefeller Philanthropy Advisors 51,500 American Corporate Partners 75,000 Accion International 406,000 Blue Star Families 250,000 Asset Funders Network via Philanthropy New York 130,000 Canine Companions 25,000 Austin Community Foundation - Verb 1,495,030 Community Hope 20,000 Bedford Stuyvesant Restoration Corporation 100,000 Folds of Honor Foundation 50,000 Behavioral Ideas Lab (ideas 42) 250,000 Johns Hopkins Military & Veterans Health Institute 25,000 Build Commonwealth 250,000 Local Initiatives Support Corporation (LISC) 150,000 Consultative Group to Assist the Poor (CGAP) 175,000 Massachusetts General Hospital - Home Base 75,000 Corporation for Enterprise Development (CFED) 250,000 Operation Finally Home 25,000 European Microfinance Network via Rockefeller Philanthropy 12,000 Semper Fido 15,000 Advisors Team Rubicon 25,000 Center for Financial Services Innovation (CFSI) 580,000 US Chamber of Commerce 50,000 *All figures in US dollars 14

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    USO of Metropolitan New York 75,000 Lower East Side Tenement Museum 20,000 Wounded Warrior Family Support 75,000 Marbles Kids Museum 70,000 Grants $10,000 and under 35,150 Metropolitan Museum of Art 130,000 Veterans Total 970,150 Museum of Science and Industry 25,000 Museum of Science, Boston 25,000 Community Development New York Botanical Garden 200,000 Advertising Council 75,000 New York City Ballet 25,000 Aeris Insight 25,000 New York Hall of Science 20,000 American Red Cross 150,000 New York Philharmonic 250,000 Breaking Ground 110,000 New York Public Library 25,000 Centre CSR Development via Rockefeller Philanthropy 10,300 New York Public Radio 50,000 Advisors North Carolina Symphony Society 25,000 Community FoodBank of New Jersey 30,000 Project Arts Centre via Rockefeller Philanthropy Advisors 41,200 Community Loan Fund of New Jersey 20,000 Providence Children’s Museum 25,000 EMCArts 200,000 Public Theater 35,000 Encore.org 200,000 Repertorio Espanol 75,000 Feeding American Tampa Bay 20,000 St. Louis Symphony Orchestra 20,000 Food Bank of Central & Eastern NC 20,000 State Theatre Regional Arts Center at New Brunswick 20,000 Food Bank of Central New York 20,000 Tampa Bay Performing Arts Center 25,000 Generations United 50,000 Grants $10,000 and under 62,500 Independent Sector 15,000 Arts & Culture Total 2,710,650 International Medical Corps 35,000 IYRS 25,000 Youth/Education KaBOOM! 30,000 American Indian College Fund 15,000 King Baudouin Foundation 25,251 Asia Society 100,000 Living Cities 300,000 Asian University for Women 250,000 Local Initiatives Support Corporation (LISC) 85,000 Boys & Girls Clubs of America 150,000 Nazareth Housing 20,000 Center for the Collaborative Classroom via Einhorn Family 25,000 Neighborhood Housing Services of New York City 50,000 Charitable Trust RI Community Food Bank Association 20,000 Citizens Committee for Children of New York 25,000 Second Harvest Food Bank of Metrolina 20,000 Educate Me Foundation via Rockefeller Philanthropy 117,000 Advisors Sue Ryder Home via Rockefeller Philanthropy Advisors 20,600 Foundation of the University of North Carolina at Charlotte 50,000 Trust for Public Land 270,000 Harlem Educational Activities Fund 15,000 ULI Foundation 12,500 Hispanic Scholarship Fund 30,000 United Neighborhood Houses 15,000 Matching Gifts for Higher Education 700,665 Grants $10,000 and under 102,500 National FFA Foundation 22,000 Community Development Total 1,976,151 New Leaders 125,000 New Teacher Center 100,000 Arts & Culture Opportunity Network 50,000 American Museum of Natural History 100,000 Partners of the Americas 100,000 Strong 237,500 Americas Society 75,000 Police Athletic League 62,500 Asia Society 410,000 Scholarship Programs for Associates’ Children 1,215,910 Ballet Hispanico of New York 125,000 StriveTogether 125,000 Bechtler Museum of Modern Art 25,000 United Negro College Fund 50,000 Boston Symphony Orchestra 15,000 Grants $10,000 and under 67,500 Brooklyn Academy of Music 50,000 Youth/Education Total 3,533,075 Brooklyn Children’s Museum 25,000 Carnegie Hall 50,000 MetLife Volunteer Projects Chamber Music Society of Lincoln Center 35,000 Various Charities with an Employee Volunteerism Component 659,206 Chicago Children’s Museum 25,000 KaBOOM! 94,100 Children’s Museum Jordan via Rockefeller Philanthropy 25,750 Advisors Local United Ways 230,000 Dayton Art Institute 15,000 Special Olympics 550,000 Discovery Place 50,000 MetLife Volunteer Projects Total* 1,533,306 El Museo del Barrio 100,000 Foundation for the Carolinas 25,000 Other Grant-Making Total 12,668,332 Hellenic Children’s Museum via Rockefeller Philanthropy 41,200 Advisors Financial Inclusion Grant-Making Total 30,366,706 High Line 25,000 Japan Society 75,000 Total MetLife Foundation Grants 43,035,038 Lincoln Center for the Performing Arts 250,000 *An additional USD 2,311,751 included in the Financial Inclusion section relates to MetLife volunteer projects. 15

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    MetLife Foundation— 2016 ANNUAL REPORT Initially we were an unimaginably poor community. After forming the group, we women have prospered immensely. Nasira Gazi, Trickle Up client The families with whom we Pro Mujer's customers are dynamic women determined to grow their businesses and build better work are the true heroes and lives for their families and communities. Pro Mujer heroines of the Trickle Up story. is committed to evolving with them, delivering the wraparound financial, health, and education services We are catalysts to connect the that will help our customers continue to succeed. poorest and most vulnerable to Leila Freedman Senior Director of Program Delivery, Pro Mujer vital resources–formal financial services, education, health Inclusion Plus demonstrates the transformative care, and basic services–and to power of pairing associates who want to share their skills with promising entrepreneurs and fintech prepare them to participate in organizations. By participating in Inclusion Plus community decision-making. together, associates and entrepreneurs directly impact the lives of low-income people, giving them better tools to achieve their financial goals and Bill Abrams ultimately improve their futures. President, Trickle Up Suzi Sosa Chief Executive Officer, Verb Community college students’ lives are complex— they work, care for dependents, go to school, and must carefully budget both their time and their money to succeed academically and outside of school. Colleges have a key role in building students’ financial capability, and CCCSE provides institutions with information and resources they need to help their students achieve their dreams. Evelyn N. Waiwaiole, Ph.D Executive Director, Center for Community College Student Engagement 16

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    Sharing What We Learn The lessons that MetLife Foundation and our grantees learn are shared continuously to improve our work and to advance the knowledge of the global financial inclusion industry. With our partners we prepare white papers, publish articles, sponsor and appear at conferences. MetLife Foundation also runs learning workshops for our grantees. Together they share their experiences, develop common metrics, compare key performance indicators, and adjust their programming to serve their clients better. Some of our grants have knowledge sharing as its own goal. GLOBAL ASIA WSJ. Custom Studios/ 17 Triggers/Innovation Circuit Multipliers of Prosperity Together with 17 Triggers and MetLife’s innovation center—LumenLab—MetLife Multipliers of Prosperity is Foundation held the Innovation Circuit workshop in Singapore. Twenty- an award-winning thought three participants representing 17 financial inclusion institutions (all of them leadership platform that Foundation grantees) from seven countries across Asia came together to learn, features stories from MetLife share, and influence the future of innovation and digital in financial inclusion Foundation’s grantees. It with the potential to impact millions of low-income people. This workshop, like includes videos, infographics, and other content on the work others funded by MetLife Foundation, combined knowledge sharing with hands- of financial inclusion. This on practical application of processes and products that will help us accelerate unique resource, developed financial inclusion not only in Asia but around the world. in partnership with WSJ. UNITED STATES Custom Studios, helps share best practices, insights, and Aspen Institute/EPIC (Expanding Prosperity Impact Collaborative) information about financial MetLife Foundation supports the Aspen Institute’s financial security work inclusion issues. It is the Foundation’s contribution with EPIC, an effort to examine economic forces that significantly impact the to sharing knowledge and financial security of millions of Americans. Each year, EPIC targets one important raising awareness of financial consumer finance issue, convening academics, policy makers and practitioners in inclusion around the world. cross-sector research, learning, and knowledge-sharing to find solutions. 17

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    MetLife Foundation— 2016 ANNUAL REPORT MetLife Foundation Operational Data Operations ($ millions) 2016 2015 2014 2013 2012 Total Assets 184.6 196.3 195.7 179.0 166.3 Total Investments 169.7 172.6 188.9 169.7 164.0 Total Liabilities 1.4 1.6 2.3 5.4 9.5 Net Assets - unrestricted 183.2 194.7 193.4 173.6 156.8 Total Revenues 35.0 47.5 61.6 60.3 59.0 Investment Income 11.5 2.1 17.6 15.3 11.5 Contributions from MetLife 22.0 44.0 44.0 45.0 47.5 Total Expenses 46.5 46.2 41.9 43.5 41.8 Grants Paid 43.0 42.6 41.1 42.5 41.1 Change in Net Assets (11.50) 1.3 19.7 16.8 17.2 For more information on MetLife Foundation see our website at www.metlife.org 18

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    2016 at a Glance Total 2016 Giving USD 43,035,038 USD 43+ Million Disbursed 71% 29% 219+ Financial Inclusion Other Grant Making USD 30,366,706 USD 12,668,332 Grantees* Financial Inclusion 2016 90K+ USD 30,366,706 MetLife Volunteer Hours 20% Insights 50% USD 6,174,431 Services USD 15,066,021 *Figure does not reflect multiple contributions to certain grantees’ local affiliates (e.g., United Ways, Habitat for Humanity, Junior 30% Achievement) or matching gift grantees. Knowledge USD 9,126,254 Financial Inclusion at a Glance 2013-2016 MetLife Foundation’s financial inclusion Total Financial Inclusion grant-making is organized into three Commitments* broad categories: USD 123,142,700 Knowledge. Grants aimed at increasing low-income people’s capability to make sound financial decisions. 21% Services. Grants aimed at ensuring that Insights low-income clients are served by strong 44% USD 25,403,512 Services institutions that meet their needs. USD 54,391,293 Insights. Grants designed to share 35% lessons learned and build the Knowledge USD 43,347,895 knowledge of the global financial *Figures shown reflect totals since MetLife Foundation adopted its financial inclusion community. inclusion focus in 2013 through December 31, 2016. 19

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    MetLife Foundation— 2016 ANNUAL REPORT 20

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    Where next? From digital transformation in Asia, to supporting financial technology startups in the Europe/Middle East/Africa region, to leveraging behavioral economics in the U.S. and Latin America, we look forward to building on these successes. We are committed to expanding financial inclusion to even more of the world’s unserved and underserved people, and to sharing what we learn along the way. 21

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    MetLife Foundation— 2016 ANNUAL REPORT Board of Directors Steven Goulart Treasurer, MetLife Foundation Executive Vice President & Chief Investment Officer Frans Hijkoop (Board Member through December 31, 2016) Executive Vice President & Chief Human Resources Officer Michel Khalaf President, Europe, Middle East and Africa Esther Lee Executive Vice President & Global Chief Marketing Officer Maria Morris Executive Vice President, Global Employee Benefits Oscar Schmidt Executive Vice President, Latin America Christopher Townsend President, Asia A. Dennis White President & CEO, MetLife Foundation Michael Zarcone Chairman, MetLife Foundation Executive Vice President, Corporate Affairs Officers of the Board Counsel & Secretary Theresa J. Baker (effective January 1, 2017) Assistant General Counsel, Legal Affairs Phyllis Zanghi (through December 31, 2016) Senior Vice President and Associate General Counsel, Legal Affairs Controller Michael Yorick Vice President, Financial Management Group Assistant Treasurer Stacey M Lituchy Vice President, Investments 22

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    MetLife Foundation 200 Park Avenue New York, NY 10166 www.metlife.org | © 2017 METLIFE, INC.

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