Letter from Marc. B. Lautenbach

Fellow stakeholders:

A few months ago, I was speaking with several leaders at Pitney Bowes about what makes our company so special and why I’m so passionate about it. Of course, there are a lot of reasons: a long history of service to clients; a safe, successful workplace for our teammates; and an amazing capacity to change with the times. But underneath that, there is something more—the opportunity to prove that doing the right thing the right way is a great way to do business. And the better we do it, the better we can be both a successful enterprise and a model citizen for the 21st century.

We’ve done well despite the challenges of the past several years thanks to a focused business model, an empathic culture, and employees at every level who regularly rise to the occasion with a combination of innovation and grit that inspires me every day.

We remain committed to safeguarding our colleagues while delivering quality and value for our clients and a good return for our investors. At the same time, we are steadily raising the bar on environmental, social and governance matters in keeping with our responsibilities as employer, neighbor and corporate citizen. This broad effort spans environmental sustainability; employee safety; diversity, equity, and inclusion; ethics and compliance; community involvement; and philanthropy.

We measure our performance against the highest ESG standards and increasingly align our reporting with leading international benchmarks including the Global Reporting Index, the United Nations Sustainable Development Goals, and the Task Force on Climate-Related Financial Disclosures. Equally important, our governance structures support these commitments. Our diverse, highly skilled board encompasses a range of knowledgeable viewpoints, with women serving as four of our eight independent directors and chairing two of the four board committees.

Since announcing our commitment to achieve carbon neutrality by 2040, we have taken further steps to reduce energy consumption, accelerate our move to renewables and increase the transparency of our reporting. Starting with this document, our coverage of CO2 emissions will include not only direct Scope 1 and 2 emissions from our operations, but also indirect Scope 3 across our entire value chain.

We have also reexamined the ways we work together, driving new modes of onsite and remote collaboration under a unified system we call PB@Work. This approach capitalizes on our rich culture of diversity and inclusion, encouraging and supporting everyone in our organization to be their authentic selves. Our diverse workforce is efficient, productive and highly engaged—as is the increasingly diverse supplier base that we have cultivated to bring greater opportunities to the businesses we work with.

We bring this same commitment to the communities where we operate, with a special focus on the critical issues of literacy and education. Last year our signature volunteer program, Dedication to Education, mobilized teams in seven countries for programs that advanced childhood literacy and educational opportunity. Closer to home, the Fairfield County Business Collaborative for Education Equity (a joint venture with other nearby business leaders) raised more than $1.4 million for use in programs dealing with early childhood education, summer learning, college readiness, and food insecurity.

We also continue to earn honors from our peers. Last year we placed on three Forbes lists: World’s Best Employers, America’s Best Employers for Diversity, and America’s Best Employers for Women. Other recognition came from diverse sources: The Wall Street Journal (Top 250 Best Managed Companies in America), Human Rights Campaign (Best Places to Work for LGBTQ+ Equality), Climate Leadership Awards (Excellence in Greenhouse Gas Management), to name a few.

None of this would be possible without the people of Pitney Bowes. At the heart of everything we do—and our standing as an essential company—are colleagues dedicated to living our values for our clients, our shareholders, our communities and each other. Their steadfast commitment and joy in working together are key to our ability to stay on course and deliver results we can be proud of—leading responsibly and creating opportunities for others as well as ourselves. Our approach continues to fuel our progress. We hope it will inspire others as well.

Marc B. Lautenbach

President and Chief Executive Officer