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2020 Annual Report “National Security and Economic Security and Technological Security Have Become a Tough Game, and China Does Not Play by the Rules

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2020 Annual Report “National Security and Economic Security and Technological Security Have Become a Tough Game, and China Does Not Play by the Rules ALL AMERICA EXIM Supports American Jobs by Facilitating U.S. Exports EXIM Vision Keeping America Strong: Empowering U.S. Businesses and Workers to Compete Globally Export-Import Bank of the United States | 2020 Annual Report “National security and economic security and technological security have become a tough game, and China does not play by the rules ... We will compete with China. We will compete with China, and the EXIM Bank is going to be a key factor in that global competition with China. That’s very, very important. We also have to mobilize the great American private investment sector because our private investment dwarfs China’s investment. They have government subsidies. We will now pick up our game with the EXIM help, and, of course, we will enlist our great innovative entrepreneurial private investment sector to put up the capital for projects, for technologies, for 5G, for everything, around the world.” — Lawrence A. Kudlow, Assistant to the President for Economic Policy and Director of the National Economic Council, EXIM’s 2020 Annual Conference, September 11, 2020 This 2020 EXIM Annual Report features a variety of success stories, including vignettes on the 13 small businesses honored as 2020 Exporters of the Year, the Deal of the Year, businesses that utilized EXIM’s COVID-19 relief measures, and a small business that exports to sub-Saharan Africa. Table of Contents EXIM MISSION, VISION, AND SHARED VALUES ......................................................................................................................................... 2 EXIM HISTORIC SEVEN-YEAR REAUTHORIZATION .................................................................................................................................. 3 EXIM BOARD OF DIRECTORS ......................................................................................................................................................................... 3 CHAIRMAN’S MESSAGE .................................................................................................................................................................................. 4 EXIM ADVISORY COMMITTEES UPDATE ................................................................................................................................................... 12 EXIM PROGRAM ON CHINA AND TRANSFORMATIONAL EXPORTS .................................................................................................... 16 SUCCESS STORY: WELDY-LAMONT ASSOCIATES, INC. EXIM RESPONSE TO COVID-19 PANDEMIC ............................................................................................................................................... 20 SUCCESS STORY: UNITED STATES STEEL CORPORATION ALL AMERICA INITIATIVE .............................................................................................................................................................................. 22 EXPORTER OF THE YEAR: ACOUSTICSHEEP LLC EXPORTER OF THE YEAR: ALLEN ENGINEERING CORPORATION EXIM 2020 ANNUAL CONFERENCE ............................................................................................................................................................. 24 DEAL OF THE YEAR: GULFSTREAM AEROSPACE CORPORATION POLICIES AND PROGRAMS ROUNDUP ...................................................................................................................................................... 26 EXPORTER OF THE YEAR: AMERICAN BOTANICALS INTERNATIONAL BUSINESS DEVELOPMENT ........................................................................................................................................... 31 EXPORT CREDIT AGENCY COOPERATION .................................................................................................................................................34 EXPORTER OF THE YEAR: CONSOLIDATED METAL PRODUCTS, INC. PROSPER AFRICA UPDATE ........................................................................................................................................................................... 36 SUCCESS STORY: AIR PRODUCTS/MOZAMBIQUE LNG EXPORTER OF THE YEAR: DATALOCKER EXPORTER OF THE YEAR: FIREAWAY, INC. DOMESTIC OUTREACH ..................................................................................................................................................................................40 CONGRESSIONAL REPORTING ....................................................................................................................................................................42 EXPORTER OF THE YEAR: GREENFIELD WORLD TRADE EXPORTER OF THE YEAR: H2O LLC EXPORTER OF THE YEAR: INTERSTATE NARROW FABRICS, INC. EXPORTER OF THE YEAR: ROBBINS SPORTS SURFACES EXPORTER OF THE YEAR: RPS CORPORATION EXPORTER OF THE YEAR: THE SOFTWARE REVOLUTION, INC. EXPORTER OF THE YEAR: WILMINGTON PAPER CORPORATION EXIM SUPPORTS U.S. EXPORTS FROM EVERY STATE ...........................................................................................................................50 FY 2020 AUTHORIZATIONS AND SMALL BUSINESS AUTHORIZATIONS ............................................................................................. 51 FY 2020 AUTHORIZATIONS BY MARKET ................................................................................................................................................... 52 FY 2020 LOANS AND LONG-TERM GUARANTEES AUTHORIZATIONS .................................................................................................56 AGENCY MANAGEMENT REPORT ............................................................................................................................................................... 57 DIRECTORS AND OFFICERS ........................................................................................................................................................................ 112 OFFICES AND STAFF .................................................................................................................................................................................... 114 APPENDIX: EXIM PRESS RELEASES, SPEECHES, AND CONGRESSIONAL TESTIMONIES ............................................................. 118 EXIM REGIONAL EXPORT FINANCE CENTERS ......................................................................................................... INSIDE BACK COVER 2020 EXIM ANNUAL REPORT | 1 EXIM MISSION EXIM SHARED VALUES SUPPORT AMERICAN JOBS BY FACILITATING INTEGRITY U.S. EXPORTS We are honest, ethical, trustworthy, and united in purpose. We follow the rule of law and do the right The Export- Import Bank of the United States thing, the right way, even when no one is watching. (EXIM), an independent federal agency, is the official export credit agency (ECA) of the United STEWARDSHIP States. EXIM fulfills its mission in two principal We champion prosperity, opportunity, and ways. First, when exporters in the United States excellence. We promote the well- being of our or their customers around the world are unable agency, our colleagues, our stakeholders, our to access export financing f rom private sources, country, and our world. We uphold public trust and the agency equips them with the necessary tools confidence while protecting the taxpayer through to compete in foreign markets—direct loans, loan careful and responsible performance. guarantees, export credit insurance, and guarantees of working capital loans or supply- ACCOUNTABILITY chain financing. Second, when U.S. exporters face We are responsible and transparent. We take foreign competition backed by other governments, ownership, keep our commitments, and answer at EXIM provides buyer financing that is competitive all levels to each other, the U.S. Congress, and the with the financing offered by foreign ECAs. American taxpayer for our actions. EXIM assumes credit and country risks that the INCLUSIVITY private sector is unable or unwilling to accept. All We respect each other and embrace a diversity of transactions demonstrate a reasonable assurance ideas, people, and cultures. We work together as a of repayment in accordance with statutory team—using our collective strength——to achieve requirements (12 U.S.C. § 635(b)(1)(B)). EXIM closely common goals and fulfill our mission. monitors the risks in its portfolio and consistently maintains a default rate that is substantially below LEADERSHIP its statutory threshold and that is found in the We empower, inspire, and motivate each other private sector. to innovate and lead so we grow and shape the future success of our workplace and our mission. EXIM VISION We promote a collaborative and productive work environment, and we recognize a job well- done. KEEPING AMERICA STRONG: EMPOWERING U.S. BUSINESSES AND WORKERS TO COMPETE GLOBALLY Helping the World Buy American 2 | EXIM.GOVV EXIM Historic Seven-Year Reauthorization Providing U.S. Businesses with Certainty and Advancing America’s Comparative Leadership with Respect to the People’s Republic of China On December 20, 2019, EXIM was reauthorized for a historic length of seven years – the longest in the agency’s 86-year history. The Further Consolidated Appropriations Act, 2020 (P.L. 116-94, Division I, Title IV) reauthorized EXIM through December 31, 2026, and maintained the agency’s total outstanding exposure limit at $135.0 billion. This bipartisan legislation provided much-needed certainty and predictability to American businesses and workers, as
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