Enabling Opportunity for Underserved Championing Women’s Economic Equity Partnering to Drive Impact Businesses We believe we have a responsibility to promote the Celebrating the Legacy of Maggie In 2022, we began new partnerships and extended We continue to build on our work to support small role of women in the financial system and advance Lena Walker existing relationships to support underserved businesses, particularly those from underserved and economic equity through our resources, platforms For the second year, PayPal honored the legacy communities in the U.S., including: underrepresented communities, including Indigenous, and tools. As the private sector lead for the of Maggie Lena Walker, the first Black woman — • Continuing to support The Southern Communities Black, Latinx and women-owned businesses globally. Economic Justice and Rights Action Coalition of the and first woman — to charter and lead a U.S. Initiative (SCI) in the deployment of corporate U.N. Women’s Generation Equality Forum, we made bank, with the Maggie Lena Walker Awards, resources into communities across the southern Working to Expand Access to Capital Through a commitment of $108 million to advance financial which acknowledge the achievements of women U.S., home to over 50% of all African Americans. the Economic Opportunity Fund inclusion and economic empowerment for women who work to provide economic opportunity in and girls by 2026. In 2022, we made progress by: underserved communities. • Joining the Corporate Advisory Council of the We continue to make targeted investments through National Center for American Indian Enterprise our Economic Opportunity Fund (EOF), a $500 • Funding technical assistance and research with Achievement Award recipient Development, which is focused on supporting million commitment to leverage treasury deposits Women’s World Banking on topics such as identifying Connie Evans was the founding Indigenous-owned businesses and tribes through and fund investments to increase access to capital gender biases in credit scoring. president of the Women’s Self- access to economic opportunity. for underserved communities. We have created a • Signing on to the U.S. Department of Commerce and Employment Project, the first and • Participating as founding members of the sustainable investment strategy focused on meeting the Office of the U.S. Trade Representative’s Indo- largest urban microbusiness Connie Evans Small Business Digital Alliance, a public-private our treasury requirements of preserving capital and Pacific Economic Framework for Prosperity (IPEF) development organization in Achievement Award co-sponsorship between the U.S. Small Business generating returns, while supporting an enhanced flow Upskilling Initiative and pledging to provide women the U.S., and the first Black Recipient Administration (SBA) and the nonprofit Business of institutional capital toward traditionally underinvested and girls in the IPEF emerging economies with woman elected to serve on Forward Inc. aimed at promoting America’s economic communities and businesses. For example, in 2022, we: 500,000 or more upskilling opportunities in 10 years. the Board of the Federal Reserve Bank of competitiveness by connecting entrepreneurs with • Renewed $90 million in deposits to OneUnited • Providing 11,000 employee volunteer hours in support Chicago. Under her leadership, the Association critical digital tools and resources. Bank and Optus Bank, two Black-owned banks and of women and girls globally, surpassing our goal of for Enterprise Opportunity expanded to represent more than 2,600 microbusiness development • Celebrating the 5th Annual PayPal Small Business Community Development Financial Institutions. 10,000 hours in the first year.27 Month by providing educational resources to practitioners and advocates for economic • Invested in two new funds, including the BlackRock • Utilizing the 2X Criteria in our treasury portfolio to opportunity for underserved entrepreneurs. entrepreneurs, including by leading discussions with Impact Opportunities Fund. identify investment funds and financial intermediaries SMB thought leaders and policymakers, and providing To read more, see Values in Action. that support women’s economic interests. SMBs dedicated support through our Business Resource Center. • Collaborating with Supporting Underrepresented Minority Founders & Investors EOF portfolio companies Reimagine Mainstreet The 19 minority-led and geographically diverse venture capital funds we invested in through our EOF deployed nearly globally through our and several Chambers of 250+ investments in venture Commerce, conducting $300 million in capital to over 250 portfolio companies globally, often benefiting minority and female-led businesses. capital funds Our fund-of-funds investment approach helps expand the reach of PayPal Ventures by geography, industry and market a survey of more than segments. We also launched a diversity survey with our general partners of EOF venture capital funds to understand how of portfolio companies 2,500 SMBs and hosting with at least one ethnically our investments help to advance a more diverse venture capital ecosystem.28 ~55% diverse founder29 a virtual panel discussion with the SBA on small business trust in financial Through the EOF, PayPal is an anchor investor in Zeal Capital Partners, a venture capital firm that invests in diverse management teams at early- of portfolio companies institutions and expanding access to capital. stage businesses in the fintech and future of work verticals. Learn more about how the fund is expanding opportunities for entrepreneurs of color. ~50% with at least one woman founder30 27 28 30 Hours of capacity-building and skill-based volunteer activities, such as mentorship and career readiness Survey looked at jobs created, diverse employees, consultants and service providers among other aspects of the funds. Based on 2021 EOF investments. Compared to 2% in traditional investment funds, per training, contributed to charities that advance gender equity and economically empower women. 29 Bloomberg, Female Founders Raised Just 2% of Venture Capital Money in 2021, 2022. Based on 2021 EOF investments. Ethnically diverse includes Black, Latinx, Native American and Pacific Islander.