2021 Annual Report

2021 Annual Report Built to help Albertans— then, now, and always There has never been a more powerful demonstration of the strength and resiliency of Albertans than what we witnessed over the past year. In the face of an ongoing global health crisis and the resulting economic impacts, the people of this province found ways to stay connected—offering each other support, encouragement, and hope when it was needed most. ATB is grateful to have played a part in helping Albertans navigate their way through the uncertainty and challenges of 2020. We focused first on the health and safety of our team members and our clients while building solutions to address the most urgent needs of our clients and our communities. Since then, we’ve continued to uplift Albertans, their businesses, and their communities whenever and wherever we can. Our commitment to Albertans is at the centre of everything we do. It’s why we’ve encouraged people to imagine what’s possible and why we’ve nurtured the entrepreneurial spirit of Albertans. It’s why we’ve supported local, seeded ingenuity, and spurred innovation both before and during the pandemic. And it’s what we’ll continue to do to keep Albertans moving toward the better days ahead. We know those days will come—and we’ll be here to help Albertans embrace the possibilities that come with them. Table of Contents Built to help Albertans—then, now, and always 01 Message from President and CEO Curtis Stange 03 Message from Board Chair Joan Hertz 05 Our Strategic Leadership Team 07 Business Highlights 08 Our Corporate Social Responsibility 09 Economy 11 Workplace 18 Diversity, Inclusion, and Belonging 22 Social Impact and Community Initiatives 28 Environment 34 2020–21 Financial Highlights 38 Message from Chief Financial Officer Dan Hugo 41 Stakeholder Engagement 43 About This Report 46 GRI Index 48 Locations 49 Management’s Discussion and Analysis and Financial Statements 50 Message from President and CEO Curtis Stange The act of reflection is powerful. It causes you to pause and assess what you’ve accomplished and, even more importantly, what you have learned. For ATB, this past year has been one of reflection and substantial growth—both as individuals and as the leaders and team members of Alberta’s largest financial institution. We are living in a new Alberta, shaped by a global pandemic, oil price and market volatility, and meaningful social movements. To say this is a fluid time is a massive understatement. However, ATB was built to help Albertans, and that calling was just as strong this year as it was when we were first created in 1938. Over the decades, we’ve transformed people’s understanding of what banking can—and should— make possible. When the pandemic hit, we knew we could make a difference during one of the biggest challenges of our generation. With creativity and empathy, our team members connected with thousands of clients across the province. We helped Albertans and their businesses diversify and adapt to changing economic conditions by providing personalized financial advice and solutions. Knowing the urgency our clients were facing, we quickly became experts in deploying a suite of government relief programs. ATB was one of the first banks in Canada to automate federal support payments with digital end-to-end processes. For our clients, that meant accessing their funds in days, not weeks, to be able to better navigate their new path forward. “While this past year may have challenged us in all aspects of our lives, more than anything, it has strengthened our resolve... ATB was built to help Albertans, and that commitment holds true as we look to the brighter future we know lies ahead.” Curtis Stange, President and CEO 3 For some, finding their footing on that new path has been a challenge. The impacts of COVID-19 are being felt very differently by each industry, organization, and individual. In the midst of so much uncertainty, ATB pledged to do more and focused on the many ways we could make a difference. We committed to being in business for the greater good and helping to raise the overall well-being of Albertans. We found new ways to uplift mental wellness for youth and first responders, we helped to make home ownership a reality for Alberta families in need, and we partnered with United Way for on-the-ground emergency support during this volatile time. As an organization, we recognized that our team members needed more of our support as well. While they were navigating new working environments—on the front line with personal protective equipment and at home in virtual offices—we needed to find ways to make it all possible: work, childcare, school, family, and countless other commitments. Our own resilience was tested and retested. Along with our physical safety, we needed to address our mental health. As an organization, we introduced a new employee and family assistance program and digital resiliency tools, and we added additional wellness days for our team members to disconnect and recharge. We also reflected on our own diversity and inclusion and the need to continue building a psychologically safe workplace. The best way to create change is to set a clear intention. We commit to mitigating bias, breaking down barriers, and simply being better for our Black, Indigenous, and otherwise racialized communities and team members. We are challenging ourselves to become an organization where all team members belong and are part of #OneATB. And the power of #OneATB is undeniable. I am truly thankful for our more than 5,000 team members who continue to display resilience and optimism and carry the unwavering belief that anything is possible. It is because of them that ATB is in our current position of strength and can continue to help guide the province back to prosperity. While this past year may have challenged us in all aspects of our lives, more than anything, it has strengthened our resolve. Alberta, with its broad diversity in both people and landscapes, is in a unique and strong position for economic recovery. We are known for our tremendous wealth of resources, our market access, and our low cost of doing business. Alberta’s unique attributes are more than robust enough to compete within our borders and well beyond, and there are many reasons to be optimistic about our future. As a province, we are already on track to recover some of the lost ground from the global pandemic and oil-price crash, and we can feel the momentum building. As Alberta’s bank, we are confident we can be a catalyst for growth. Our clients are counting on us to be experts in our field, dependable providers of advice and solutions, and ready for a new digital economy. We are at an inflection point as an industry. The rapid advancements in technology, increased use of artificial intelligence, new and innovative regulations, and changing expectations of consumers and business owners are all converging, resulting in disruption like we’ve not experienced before. And at ATB, we are ready for it. While our financial results are certainly impressive—outstanding, in fact—our success is a testament to the dedicated ATB team members who are obsessed with making it possible. ATB was built to help Albertans, and that commitment holds true as we look to the brighter future we know lies ahead. Curtis Stange President and CEO 4 “When fiscal year 2021 began... ATB showed up, as it has throughout its 82-year history—providing stability and being the place where our clients could come for support and advice. ” Joan Hertz, Chair of the Board Message from Board Chair Joan Hertz Ignis aurum probat, miseria fortes viros. Fire tests gold; adversity tests the strong. —Seneca The COVID-19 pandemic has tested the strength of ATB, Albertans, and people from across the country and around the world. This test of strength has not come in equal measure, but we’ve all been affected. This past year has been filled with stories of hope where clients, when faced with challenges, were able to look to ATB for help. It is times like these that the true nature of ATB comes through—we understand Alberta and our clients—and that there is no one size fits all. Whether we were helping a tech company finance an expansion in the early days of the pandemic, doing a consolidation loan for a family whose father was recovering from cancer, or providing lunch for truckers on Highway 2, ATB existed to make it possible. When fiscal 2021 began, the pandemic was in its early stages and things looked bleak for Alberta. We were living through the steep decline in crude oil prices along with dealing with the implications of the public health measures required to slow the spread of the virus. During this dark time, ATB showed up, as it has throughout its 82-year history—providing stability and being the place where our clients could come for support and advice. 5 We took a proactive approach and reached out to our clients. We knew that it wouldn’t be the same solution for everyone. Some needed reassurance, some needed more complex advice, and, sadly, some needed to make difficult decisions. ATB was there beside our clients, using our in-depth knowledge of Alberta and keeping our clients at the centre of our decisions. Together, we helped them make the best decisions for their financial future. Our investments in technology paid off as well. Clients told us they needed quick and technologically advanced help—and we delivered.

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