ESG Integration Framework achieving positive ESG outcomes through its investments. These ESG dedicated portfolios build on PIMCO’s nearly 50-year core investment processes, while actively incorporating PIMCO’s clients’ sustainability objectives. Clients around the world define their ESG objectives differently –and that customization is important. As one of the world’s largest bondholders, PIMCO has a large and important platform with which to engage issuers to drive meaningful change on sustainability dimensions. Engagement is an essential tool for delivering impact in ESG investing. PIMCO believes that ESG investing is not only about partnering with issuers that already demonstrate a deeply unified approach to ESG, but also about engaging with those with less advanced sustainability practices. This can be a direct way for PIMCO to influence positive changes that may benefit all stakeholders, including investors, employees, society and the environment. For additional details about PIMCO’s approach to ESG investing, please also see the ESG reports: www.pimco.com/our-firm/esg-framework. 47