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Many times during the course of our last fiscal year, Experian was asked to describe its Diversity, Equity and Inclusion (DEI) “program.” We found this difficult to do. Because DEI isn’t just a “program” at Experian. It drives our mission, our partnerships, and our company culture. We’re happy to share our progress in the Power of YOU: 2023 Diversity, Equity and Inclusion Report. In this edition of our global report, you’ll see how our mission of financial inclusion is at the center of our products and services; how we support our consumers, clients and communities; and how we seek and attract the best talent across the world. Our teammates are key to progress and impact. Together, we drive innovations to meet consumers’ needs, such as Experian Go and our new auto insurance comparison shopping service in North America. The Support Hub pilot in the United Kingdom helps disabled people get easier access to essential services like banking and utilities. We’re proud of programs like Transforme-se in Brazil for people in vulnerable circumstances, which provide scholarships and training in STEM. In the first month, more than half of the participants improved their social and financial standing. Across the globe, partnerships with nonprofits and non-governmental organizations (NGOs) have impacted more than 18 million people so far. I hope you’ll enjoy reading the report to understand why our efforts around inclusion and belonging make Experian such a great place to work. You’ll also gain an appreciation for our ongoing focus on supporting the communities in which we live, work, and serve, and helping consumers achieve their life goals.

Our latest State of the Automotive Finance Report: Q1 2023 showed the average new vehicle loan amount reached $40,851, and today’s average used vehicle loan amount is $26,420. While the growth of average loan amounts is slowing, and in some cases, decreasing from previous years, rising interest rates are pushing monthly payments higher for many consumers. This news comes at a time when many consumers are looking for ways to save money and are holding onto their vehicles longer. In fact, as of Q1 2023, the average length of ownership for new vehicles purchased as far back as 2010 is 4.19 years. At the same time, the cost of vehicle repairs has many consumers feeling financially stressed. Whether to eliminate the burden of rising costs of goods and services, or to plan for big ticket items like vehicle purchases or repairs, our research shows saving money is top of mind for many consumers. Two-thirds tell us they are actively looking for ways to trim expenses from their monthly budget. If you’re shopping for a new set of wheels, or trying to keep your old ones on the road longer, here are four steps you can take to save money: Use credit as a financial tool A good credit score could help you qualify for better interest rates and better terms for loans. Whether you’re looking to purchase a new vehicle or finance repairs, a positive credit history can be a powerful financial tool. Your credit score can also impact the rates you may pay for insurance. Work to keep your credit card balances low and make your payments on time. Using tools like Experian Boost[1] allows you to add your positive payments for telecom and utility bills as well as video streaming services – and now rent payments – to your Experian credit file to potentially increase your FICO®[2] Score instantly. Cut costs where you can We are committed to helping consumers save money in multiple ways and auto insurance is one area consumers may be overpaying. To combat this, we now offer an auto insurance shopping service that delivers tailored rates based on your current policy and vehicle directly from our mobile app. Consumers can potentially save on average more than $900 per year through our service, which is significant. Plan ahead to save on interest rates Interest rates are a key consideration if you’re shopping for a new or used vehicle. Our latest State of the Automotive Finance Market Report showed the average interest rate for a new vehicle is 6.58%. Oftentimes when shopping for a vehicle the main priority is securing a low monthly payment, but it’s also important to assess the total cost of the loan, particularly amid rising interest rates and vehicle prices. With this in mind, some new vehicle shoppers who were in search of lower interest rates opted for shorter loan terms in Q1 2023. Determine how much you can afford to spend each month and opt for shorter loan terms to save on interest. Don’t get a lemon With prices increasing, we know many people are opting for used vehicles. While this can help with costs, it’s important to know what you’re buying before you sign on the dotted line. Request a vehicle history report, like an Experian AutoCheck report, before committing to the purchase. These reports include how many previous owners the vehicle had, or if there were any reported accidents. This can help you avoid surprises down the road and give you a better idea of the value of the car. In addition to a vehicle history report, we recommend having the vehicle inspected by a licensed mechanic. We rely on our vehicles every day. By leveraging the right tools, and with proper planning, you may view them less as a financial burden and more as a means to enjoy the freedom of the open road. [1] [Results will vary. Not all payments are boost-eligible. Some users may not receive an improved score or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost. Learn more. [2] FICO is a registered trademark of Fair Isaac Corporation

We are pleased to share that during last night’s annual Credit Awards, Experian scooped a special recognition award for our work supporting consumers, businesses, and the UK economy through the cost-of-living crisis. Part of this support focused on delivering financial education to marginalised groups – including younger people who were acutely feeling the pressure of rising costs and economic uncertainty. A great example of this was our work alongside the influential voices of Young Money blogger, Iona Bain, and celebrity footballer Bayo Akinfenwa, promoting credit education and helping young people take control of their financial health through a series of original videos on social media. The campaign reached over 1 million 18-25 year olds and guests at the ceremony were treated to a viewing of one of the campaign videos. In addition, Experian’s #EaseTheSqueeze campaign has been helping people manage their budgets, with tips and guidance about how they can take control of their finances. So far, we have managed to reach 8.5 million people in the UK. And, finally, our annual Credit Awareness Week campaign continues to help people develop a better understanding of credit, including how credit scoring works, dispelling common myths, and tackling issues such as credit refusal. We have also made huge strides developing an exciting pipeline of unique solutions in response to the cost of living crisis. For example, Experian’s Support Hub aims to help consumers with support needs to better connect with financial institutions and other services they need to access. By 2030, it is hoped the Support Hub will help more than 7 million disabled people. Judges from across the credit industry presided over the Credit Awards 2023, which was organised by Credit Strategy magazine and held at London’s Grosvenor House Hotel. The ‘Outstanding Company Contribution to the Industry’ award celebrates the continuous work from one company for betterment of the industry. Commenting on Experian’s win, Credit Strategy’s Group Editor Michal Lodej said: “Experian has worked tirelessly to improve the publics’ knowledge about their finances and have developed numerous tools for consumers to evaluate and improve their financial health. Their dedication to make a difference has provided much-need value for millions of people as well as the wider credit industry. For that reason, Experian were worthy winners of this year’s ‘Outstanding Company Contribution to the Industry’ award.” As the current economic environment adds extra pressure on households around the world, we recognise the significance of the role we can play to help ensure people can get through this period of financial pressure. It’s important that we continue to do all we can to keep pace, and we remain committed to equip people with the knowledge and tools to help them manage their finances effectively.