Letter from Marc B. Lautenbach

Fellow stakeholders:

Whenever I’m asked to comment on why I so passionately believe in Pitney Bowes, I focus on the core foundations that help propel our success. I believe serving our clients and providing an engaging and rewarding place to work creates long term value. There are no shortcuts if you want to create enduring value. I have also believed in our opportunity to set an example for other enterprises of how to do the right thing the right way. Our commitment to being a responsible, ethical, inclusive company starts at the top of the organization and extends to all our team wherever they are.

Today, Pitney Bowes provides world-class technology, logistics, business, and financial services to help clients reduce the complexities of sending parcels and mail. We are proud of the strides we have made in our sector and look forward to continuing to drive innovation forward to better serve our clients. And we are equally committed to remaining true to the values, ethics and responsible business practices that are embedded in our culture and our approach to moving forward with purpose. We align our ESG reporting with leading standards and frameworks that help us meet the evolving expectations of our stakeholders as well as best practices in how and what we disclose.

Throughout our history, our commitment to diversity, inclusion and engagement has been foundational to our team’s journey. We are dedicated to advancing a culture of sustained excellence and exceptional performance by embracing the greatness of our team members’ individuality, maintaining high standards of safety and wellness practices, and creating a sense of belonging for all. Today, 43 percent of our global population are women, and nearly 50 percent of our US population are people of color. Our commitment to inclusivity extends across our company, from the diversity of our Board of Directors to accessible product design to meet the diverse needs of our clients, to our diverse supplier base and attention to responsible sourcing. A more inclusive Pitney Bowes is a more productive company and one that is better able to create value for our stakeholders.

We also recognize the need to raise the bar on environmental stewardship to minimize impacts from our operations and value chain. This includes our target to achieve carbon neutrality of our operations by 2040. We will do this through energy efficiency in our sites and fleet and by the increased use of renewable energy. But we also recognize that our responsibility extends beyond our own operations. We recently extended our target for carbon neutrality to include our scope 3 emissions, those from our value chain, by 2050. We will do this by focusing on a better understanding of the sustainability practices of our suppliers, increased accuracy of suppliers’ CO2 reporting, and partnering with suppliers engaged in sustainable practices. An environmentally focused Pitney Bowes is a more efficient and resilient company and one that is better able to flourish in a fast-changing world.

Our approach to serving our communities is also enduring and integral to our values. This is evident in our work to uplift students in underserved school districts by increasing their access to equitable education opportunities. With a belief in joining forces for good, we reached out to colleagues in other companies and together formed the Fairfield County Business Collaborative for Education Equity. In just three years, we have seen the power of collaboration and a focus on scalable, evidenced-based programs to bring about real change. A more engaged Pitney Bowes is a place people want to work and a company that our clients and communities want to partner with over the long term.

As you read our report, I am confident you’ll see what excites the team here at Pitney Bowes – a passion for doing the right thing the right way for our clients, our people, the environment, and our communities. But we are neither finished nor content with where we stand currently. We are committed to building on our already strong foundation of corporate responsibility so we can take actionable steps and create meaningful impacts as we move forward with purpose for all our stakeholders.

Marc B. Lautenbach

President and Chief Executive Officer