Banco Bradesco S A : 2023 ESG Report

ESG REPORT 2023

Introduction

About us

Sustainability

Environmental

Social

Governance

Annexes

< 2 >

Contents

1

Introduction

About the report	03
Materiality and Sustainable
Development Goals (SDGs)	04
Report center	05
Message from the leadership	06
Main figures	08

2

About us

Bradesco Organization	10
Strategy	14

3

Sustainability

Governance and sustainability
strategy	16
Sustainable business	18
Climate agenda	26
Social, environmental
and climate risks	34
Biodiversity	38

4

Environmental

Eco-efficiency	44
Operational emissions	46
Energy management	49
Water management	52
Waste management	53
Material management	54

5

Social

Our people	56
Client in focus	85
Suppliers	101
Community	106
Investors	110
Governments and regulators	110
Human rights	111

6

Governance

Corporate governance	115
Ethics, integrity and transparency	121
Privacy and information security	127
Technology and innovation	130

7

Annexes

How we relate to our stakeholders	138
Summary of GRI content	140
Summary of SASB content	152
Independent auditors'
limited assurance report	157

ESG REPORT 2023	Introduction	About us	Sustainability	Environmental	Social	Governance	Annexes	< 3 >
	About the report	Materiality and Sustainable Development Goals (SDGs)		Report center	Message from the leadership	Main figures

About the report

GRI 2-3

We present Bradesco's 2023 ESG Report. This document is part of our set of annual reports and aims to provide transparency on ESG (environmental, social, and governance) issues, offering a comprehensive and integrated view of our businesses and operations. In it, we detail the results achieved during the period, our strategic priorities, voluntary commitments undertaken, and how we generate long-

Important considerations:

1. Throughout this document, we will use the term ESG (Environmental, Social and Governance).

2 The terms "Organization" and "Bradesco" refer to the Bradesco group in its entirety, including all companies that are part of the conglomerate. The term "Bank" is

Independent assurance

The 2023 ESG Report has been externally assured by KPMG, an independent auditing firm that verified the information disclosed in this document, as well as the process of compiling and presenting this information, and its aligment with GRI standards.

LEARN MORE

in the Independent Auditors' Limited Assurance Report.

term value for our stakeholders.

This publication covers activities from January 1, 2023 to December 31, 2023, including relevant data generated up to its publication date, on June 7, 2024.

used specifically to describe our financial activities, while controlled entities are referred to by their respective names.

3. We distinguish our internal team by using

the term "employee", while "associate" is

used for third-party service providers only.

Reporting Guidelines

We comply with the leading international guidelines for accountability and best practices in sustainability reporting, among which we highlight the following:

We invite you to learn about our strategy and key results.

Happy reading!

In case of questions or suggestions about this content, please contact us by email: [e-mail]

4. All the human capital indicators disclosed

in this report cover more than 75% of the

FTE (total full-time equivalent employees).

5. Bradesco's senior leadership validated

the content of this report, taking full

responsibility for the information

disclosed. GRI 2-14

GRI Standards

The answers to the GRI are flagged throughout the content with the disclosure labels GRI xxx-x.

On page 140, under Annexes, you will find the GRI content index, with a comprehensive table of reported disclosures and complementary information.

Sustainability

Accounting

Standards

Board

The answers are marked with "SASB XX-XX-xxxx.x", and

the index is on page 152.

Task-force	Sustainable
on Climate-	Development
related	Goals
Financial
Disclosures	Our contribution to the
	SDGs is highlighted in
Find out more on	this report.
ourClimate Report.

ESG REPORT 2023	Introduction	About us	Sustainability	Environmental	Social	Governance	Annexes	< 4 >
	About the report	Materiality and Sustainable Development Goals (SDGs)		Report center	Message from the leadership	Main figures

Materiality and Sustainable Development Goals (SDGs)

GRI 2-29 • 3-1 • 3-2

Prioritized SDGs

As one of the main financial institutions in Brazil, with an important role in the country's economic development, we have the ability to lead the transition to a cleaner, more resilient and inclusive economy.

To effectively guide our efforts, it is extremely important that we understand both the areas we impact and those that have the potential to impact our operations and business.

Therefore, every two years, we promote engagement with representatives of our audiences to update our materiality matrix, incorporating significant matters based on their perceptions and expectations.

In our last review, in 2022, we adopted the dual materiality methodology to analyze sustainability aspects from three

1 environmental and social impact

materiality: analysis of impacts generated by Bradesco's activities on society and the environment.

2 financial materiality:

analysis of socio- environmental risks and the significance of related financial impacts, considering different time horizons.

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In line with our sustainability strategy and strengthening our commitment to create value for our stakeholders, we have prioritized six SDGs that are most closely aligned with our operations, monitoring our contribution to the global goals, as well as our progress in implementing the Principles for Responsible Banking (PRB). When prioritizing the SDGs, we considered: stakeholder consultation, a comparative sector benchmarking study,

the Organization's relevance matrix and strategic pillars, the Brazilian scenario (main social and environmental issues) and reporting and performance

perspectives:

3 stakeholder relevance perception: consolidated

assessment, scored by weight (frequency, dependence and influence).

LEARN MORE

In ourMateriality Report.

recommendations and guidelines, among others. We also had the process verified by an independent third party (ERM Brasil Ltda.), and obtained a favorable opinion.

ESG REPORT 2023	Introduction	About us	Sustainability	Environmental	Social	Governance	Annexes	< 5 >
	About the report	Materiality and Sustainable Development Goals (SDGs)		Report center	Message from the leadership	Main figures

Report center

ESG Report	Integrated Annual	ESG Indicator	Materiality Report
Based on GRI and	Report	Worksheet	Publication of the methodology
SASB standards,	It integrates institutional,	Spreadsheet with the	and processes for consulting
we report the	business, financial and	main quantitative ESG	stakeholders and building our
most relevant	sustainability information,	indicators for the last	materiality matrix.
environmental, social	according to the IIRC	four years.
and governance	framework, with an
indicators for our	emphasis on how we
stakeholders.	generate and share value.

LEARN MORE

For more information, access ourClimate Report (TCFD)sustainability page.

Report on the management of climate-related risks and opportunities, in accordance with recommendations from the Task Force on Climate-related Financial Disclosures (TCFD).

Economic and Financial

Analysis Report

Our consolidated economic-financial performance, reported in accordance with practices applicable to institutions authorized to operate by the Central Bank of Brazil.

Risk Management Report -

Pillar 3

Describes Bradesco's risk management activities, detailing practices and controls over the primary risks we are exposed to, including the adequacy of our capital.

ESG REPORT 2023	Introduction	About us	Sustainability	Environmental	Social	Governance	Annexes	< 6 >
	About the report	Materiality and Sustainable Development Goals (SDGs)		Report center	Message from the leadership	Main figures

Message from the leadership

GRI 2-22

I am proud to work at Bradesco.

Now, as the CEO, my enthusiasm is through the roof. I am aware of the challenges ahead and I intend to live up to the responsibility bestowed upon me by the Board of Directors.

We are a bank that is acknowledged for its significant contribution to the socioeconomic development of Brazil.

Over 81 years, we have earned credentials for our work in favor of education, financial inclusion, entrepreneurship and accessibility.

Awareness about ESG challenges is a reality for present and future generations, and we recognize our role in this gear.

18 years ago, Bradesco was one of the first banks to keep track of the carbon generation of its own operations and offset 100% of its scope 1 and 2 emissions.

We have neutralized our scope 3 operational emissions since 2019, and, from 2020, we have used exclusively renewable energy in our operations.

We were the first financial institution in the country to measure and publish CO2 emissions arising from loans and corporate financing in our portfolio, following PCAF's international methodology and sectoral estimates. This way, our contribution to global efforts in mitigating global warming is relevant and in line with scientific scenarios and the goals of the Paris Climate Agreement.

The path we chose places us as one of the main players of the green transition in Brazil, engaging and supporting our clients in the climate transition and encouraging sustainable businesses.

At the end of 2023, we are proud to have already achieved 90.8% of our goal of directing BRL 250 billion to sectors and

assets with positive socio-environmental impact by 2025, with credit operations, mass ESG products and the structuring of operations with ESG labeling in the national and international market.

We believe that partnerships are key to the ESG agenda. In 2023, we raised USD 250 million from the IFC to boost Local Production Arrangements (APL) for the creative industry in the North and Northeast.

On the social agenda, as one of the largest private donors in the country, we invested BRL 1.1 billion in various projects and initiatives, contributing to socio- environmental demands and reinforcing our Sustainability strategy, aligned with the UN Sustainable Development Goals (SDGs).

In this context, Fundação Bradesco comes to light as one of our great prides, which has been providing education to children and young people throughout Brazil since

ESG REPORT 2023	Introduction	About us	Sustainability	Environmental	Social	Governance	Annexes	< 7 >
	About the report	Materiality and Sustainable Development Goals (SDGs)		Report center	Message from the leadership	Main figures

1956, through 40 owned schools operating primarily in regions of socioeconomic vulnerability, as well as educational projects such as Escola Virtual. Over 2.4 million students were benefited throughout Brazil in 2023.

We are a Bank made up of people, focused on servicing people. We are 86,000 talented people who provide services to over 71 million customers every day.

Therefore, we seek to develop and leverage team potential.

We promote professional excellence through our Corporate University, UNIBRAD, which celebrated ten years of operation. Last year, we had over 1.9 million training participations.

Our ESG strategy and performance are recognized as above the industry average.

We were selected for the 18th consecutive time for the Dow Jones Sustainability Index portfolio, included in the S&P Global Sustainability Yearbook, among the top 10% of the global banking sector in sustainable practices.

Furthermore, we were included in the

B3 Corporate Sustainability Index (ISE) portfolio and recognized in the CDP climate program for the 19th time, reaching the leadership level (A-) which places us among the companies that have adopted the best practices related to the climate agenda.

We reached the end of 2023 in a more resilient position, with important achievements, lessons learned and an optimistic view about the future.

In February 2024, I announced our strategic plan and executive structure, which aim to bring leadership closer to the business, simplifying the operation and management model, providing more autonomy and agility in decision-making and a better experience to our customers.

We remain proud of our legacy so far and even more confident in our ability to generate value to our stakeholders.

Our deepest thanks go to everyone who accompanied us on this journey, our employees for their dedication and our customers and shareholders for their support.

Please take a few moments to read through this report which outlines our ESG strategy and initiatives carried out throughout 2023.

Have a good read!

MARCELO NORONHA

CEO

ESG REPORT 2023

Main figures

Introduction	About us	Sustainability	Environmental	Social	Governance	Annexes	< 8 >
About the report	Materiality and Sustainable Development Goals (SDGs)		Report center	Message from the leadership	Main figures

Clients in focus

71.1 million

clients

7,388

service points (branches + PAs/PAEs +business units)

38.1 million

account holders

38,264

Bradesco Expresso (banking correspondents)

Our people

86.2 thousand

employees

51%

women

29%

black people

2,497

interns

Sustainability

For the 6th consecutive year we were included in S&P Global's Sustainability Yearbook, among the top 10% of the global banking sector in terms of sustainable practices

Since 2021, we have allocated

BRL 227 billion

to sustainable business, reaching 90.8% of the target set for 2025

USD 250 million

raised with IFC to boost creative industry LPAs in the North and Northeast regions of Brazil

Innovation and Technology

+ 2 Billion

client interactions since the launch of BIA (Bradesco Artificial Intelligence)

98% of all Bank transactions were made

in digital channels

Finance

BRL 16.3 billion

recurring net income

BRL 877.3 billion

expanded portfolio

BRL 106.6 billion

of net income in the Bradesco Seguros Group

Fundação

Bradesco

BRL 894 million

invested in 2023

42 thousand

students benefited

2 million

students benefited from the Virtual School

40 schools in 26 Brazilian states, including the Federal District

ESG REPORT 2023	Introduction	About us	Sustainability	Environmental	Social	Governance	Annexes	< 9 >
	Bradesco Organization	Strategy

About us

We are one of the largest financial groups in Brazil, with a history of inclusion, pioneering, innovation and expansion.

RELATED SDG

ESG REPORT 2023	Introduction	About us	Sustainability	Environmental	Social	Governance	Annexes	< 10 >
	Bradesco Organization	Strategy

Bradesco Organization

GRI 2-1

In 2023, we completed 80 years of history, eight decades guided by a clear purpose.

An oper-door bank. In 1943, Banco Bradesco S.A. was born. Innovative and inclusive, it set itself apart from other banks of the time by serving small business owners, public workers and people of modest means.

Purpose

To create opportunities for the fulfillment of people and the sustainable development of companies and society

Values

• The Client as the reason for the Organization's existence
• Ethics in all of our activities and relationships
• Transparency of information required by stakeholders
• Belief in the value and capacity of people to develop
• Respect for human dignity and diversity
• Social and environmental responsibility, with incentives for sustainable development initiatives