NYSE: DFS 59.80 +0.76 +1.29% Volume: 2,660,004 Pricing delayed 20 minutes May 26, 2017

Corporate Political Activity

Discover believes that engagement with policymakers on issues that could impact its business is important to the long term interests of the Company and its employees and shareholders. The Company maintains the highest ethical standards and transparency when engaging with public officials and abides by all appropriate reporting and disclosure requirements.

Political Contributions

Discover has a policy that prohibits its employees from causing the Company to make a political contribution from its funds or resources without the approval of Government Relations. Discover does not currently contribute to state or local candidates, 527s, 501(c)4s, or SuperPACs; make Independent Expenditures; or make payments to influence the outcome of ballot measures. If the Company makes any corporate contributions in the future, it will be disclosed on this page.

All political contributions are made through Discover Financial Services Political Action Committee (PAC), which is funded solely through voluntary contributions made by eligible employees. The PAC is bipartisan and contributes to candidates based on factors promoting the interests of the Company, including: Committee assignment, leadership position, representation of a district where Discover has a presence, and alignment with Discover’s business objectives. Decisions regarding PAC contributions are made by the Discover Government Relations team and are not based on any employee’s private political preferences. The PAC is governed by its by-laws and is overseen by officers representing various business units throughout the Company. All PAC receipts and disbursements are reported monthly to the Federal Election Commission and can be viewed by the public at www.fec.gov. PAC disbursements from the past five years can also be viewed at the links provided:

Compliance and Oversight

All public policy strategies, political engagements and outreach activities are overseen by the Discover Government Relations team, with the support of the Company’s Executive Committee. Discover files all state and federal campaign finance and lobbying disclosure reports in a complete and timely manner in accordance with applicable requirements. Federal Disclosure Reports are available to the public at http://lobbyingdisclosure.house.gov/. Discover also files in Illinois and California; filings can be viewed at the links provided:

http://cyberdriveillinois.com/departments/index/lobbyist/
http://cal-access.sos.ca.gov/lobbying/employers

Trade Associations

As part of Discover’s public policy strategy, it is a dues-paying member of various industry and trade associations. Discover does not direct the manner in which its dues are expended, nor does it contribute to the PAC of any trade association. All membership dues that contain ‘non-deductible’ expenses for lobbying are reported on the Company’s Lobbying Disclosure Reports. Discover’s memberships include but are not limited to:

American Bankers Association
American Financial Services Association
Consumer Bankers Association
Electronic Transaction Association
Financial Services Roundtable
Network Branded Prepaid Card Association