BENEFIT PLAN - QUALITY PAPER REQUIRED!! FOLLOW INSTRUCTIONS!!

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Your wellbeing — and your family’s wellbeing — is important. You deserve a wide array of quality benefits that are as affordable as possible. Take a glimpse at the benefits and programs we offer to support your physical, mental and financial wellbeing.

Contents

General information 1 Retirement plans 2 Healthcare and wellbeing plans 3 Savings and spending accounts 10 Life and disability plans 11 Commuter plans 12 Time away from work 13

General information

Your benefit choices Your benefit choices are based on your employment status.

• Full-time: scheduled to work 30 or more hours per week • Regular part-time: 20-29 hours per week • Part-time: fewer than 20 hours per week

If eligible, you can cover your dependents too. Generally, that includes:

• Your spouse or domestic partner (same or opposite-sex) • Children younger than 26 • Disabled children 26 or older

When your benefits begin You receive some benefits automatically, however for medical, dental, vision and hearing plans, healthcare savings and spending accounts, and other benefits, you need to enroll by your deadline. If you miss it, your next opportunity is annual enrollment the next fall, unless you have a life event that allows you to make changes mid-year.

If you are full-time, the benefits you choose start the first of the month after your hire date. If you are regular part-time, a three-month waiting period applies.

Benefits At-A-Glance 2019

Retirement plans

401(k) Savings Plan Eligibility: Regular, non-temporary employees working in an eligible position You choose how to save and invest through before-tax and/or Roth after-tax contributions and a variety of investment options. You’re immediately vested and receive a 100 percent company match up to 4 percent of eligible pay after a year of service. You’re automatically enrolled with a 2 percent before-tax contribution to a target-date fund based on your birthdate and retirement at age 65. Savings start on your first or second paycheck, and you can change your contributions or investments anytime.

Pension plan Eligibility: Regular, non-temporary employees working in an eligible position Help build your retirement income with a cash balance pension benefit, funded completely by U.S. Bank. You’re automatically enrolled on the first Jan. 1 or July 1 after you reach age 21 and complete a year of service (at least 1,000 hours). Each year you work at least 1,000 hours, you’ll receive a pay credit equal to a percentage (based on your age and years of service) of your eligible pay during the year. You’ll also receive an annual interest credit on your account balance. Once fully vested after three years of service, take your benefit with you if you leave U.S. Bank or receive a benefit from the plan when you retire.

• Subsidized medical plans designed to cover more of your expenses (full-time employees);

• Subsidized dental plans (full-time employees);

• Term life insurance and disability coverage options at no cost to you (full-time employees);

• $35 per month when you participate in a transit program (full-time and regular part-time employees).

Benefits designed with your financial wellbeing in mind You not only have opportunities to receive a pension benefit, 401(k) company match, free health coaching and in-person counseling, and more, your costs are also offset by:

Healthcare and wellbeing plans

Medical

Eligibility: Full-time Your wellbeing is important and we want you to have access to medical plans that meet the needs of you and your family. That’s why you have a choice between two types of medical plans. Both feature:

• Broad network coverage administered by UnitedHealthcare for medical, Express Scripts for pharmacy

• Free preventive medical services and prescriptions

• A portion of your services paid by U.S. Bank

The Copay Advantage plan includes features:

• A lower deductible for medical services

• No deductible for prescriptions

• Free virtual visits

• Fixed copays for certain services

If you want more certainty around what you pay when you go to the doctor or fill a prescription, this plan may be for you.

The HSA Advantage plan is a high deductible plan that can be paired with a Health Savings Account (HSA) and offers:

• Lower premiums

• A tax-free way to save and pay for out-of-pocket healthcare expenses

• A contribution from U.S. Bank - either $500 or $1,000 – to use for healthcare expenses

UnitedHealthcare Copay Advantage Plan (In-network)

UnitedHealthcare HSA Advantage Plan (In-network)

Deductible

Per person1 Medical: $500 Pharmacy: Deductible waived

Combined Medical/Pharmacy: $3,000

Per family2 Medical: $1,000 Pharmacy: Deductible waived

Combined Medical/Pharmacy: $5,000

Medical – Copay or coinsurance you pay for covered medical services

Preventive care $0 - deductible waived

Office visit charge

See “All other covered services” for labs, x-rays or other services received during an office visit.

Deductible waived. You pay: Primary care physician: $25 Convenience clinic: $25 Specialist: $50 Urgent care: $50

30% after deductible

Virtual visit $0 - deductible waived 30% after deductible

Emergency room $250 - deductible waived 30% after deductible

All other covered services 20% after deductible 30% after deductible

Pharmacy - Copay or coinsurance you pay per covered prescription

Preventive medications $0 - deductible waived

Retail (generally a 30-day supply) Deductible waived. You pay: After deductible, you pay:

Generic 20% ($10 min/$35 max)

Preferred 30% ($20 min/$175 max)

Non-preferred 45% ($50 min/$250 max)

Home delivery (generally a 90-day supply) Deductible waived. You pay: After deductible, you pay:

Generic $25

Preferred 30% ($50 min/$175 max)

Non-preferred 45% ($125 min/$250 max)

Out-of-pocket maximum (combined medical/pharmacy)

Per person1 $2,000 $5,000

Per family2 $4,000 $10,000

Annual contribution from U.S. Bank (paid in semiannual installments to your HSA)

Cover only yourself Not eligible $500

Cover you and your dependent(s) Not eligible $1,000

What you pay each paycheck3

You Only $87.38 $39.50

You + Spouse/Domestic Partner $239.88 $121.23

You + Child(ren)/Domestic Partner Child(ren)

$166.00 $76.77

You + Family $344.69 $147.88 1 A covered individual must meet this amount before the plan begins to pay for that individual. 2 Can be met by any combination of two or more covered individuals before the plan begins to pay for all covered services. 3 Subject to change annually and assumes you do not use tobacco.

Additional programs you deserve – at no additional cost If you enroll in either of our UnitedHealthcare medical plans, you have access to the following valuable programs for no additional cost:

• Second opinion service empowers you to confidentially speak to an independent specialist when you have questions about a diagnosis or differing diagnoses from multiple doctors, surgery or a new course of treatment or prescription, or a prescribed treatment that you’re not sure is working.

• Real Appeal digital weight loss and healthy living program includes a personal coach, online group classes, nutrition and fitness guides, food and exercise trackers and more.

• Livongo for Diabetes Program includes a connected meter; anytime, anywhere coaching; and 100 percent coverage for testing strips.

• Support programs for maternity, bariatric surgery, transplants, cancer, fertility, spine and joint, plus a 24/7 nurse line.

Kaiser medical plans

If you live in certain areas of California, Colorado, Oregon or Washington, you may choose from similar Copay Advantage and HSA Advantage plans through Kaiser. Copays and coinsurance may differ; visit my.kp.org/usbank and select your region for details.

Tools to help you compare your options

Healthcare is complicated, so we offer you ALEX®, your online benefits counselor, who can teach you about your plans and make a tailored recommendation on the right plan for your situation. Check it out at myalex.com/usbank/2019. Additional resources include:

• welcometouhc.com/usb - to see network providers based on where you live

• express-scripts.com/usbank - to model pharmacy costs

2019 premiums per biweekly pay period1

Coverage Level Kaiser Copay Advantage Plan

Kaiser HSA Advantage Plan

You Only $87.27 $36.58

You + Spouse/Domestic Partner $239.65 $112.10

You + Child(ren)/Domestic Partner Child(ren)

$165.81 $71.10

You + Family $344.37 $136.46 1 Subject to change annually and assumes you do not use tobacco.

http://usbank.realappeal.com

http://www.start.livongo.com/usbank

http://my.kp.org/usbank

http://myalex.com/usbank/2019

http://welcometouhc.com/usb

http://express-scripts.com/usbank

Dental Eligibility: Full-time, regular part-time Good dental care is an important part of your wellbeing. You have the option of two dental plans to help you prevent serious dental problems through regular dental checkups.

Basic Premium

$0 $0Preventive and diagnostic services

$50/person, $100/familyBasic and major services $50/person, $100/family

$0Orthodontia $0

100%Preventive and diagnostic 100%

80% after deductible Basic services 80% after deductible

50% after deductible Major services 80% after deductible

50% – for dependent children under age 19

Orthodontia 50% – for adults and dependent children

$1,000/person per calendar year Annual maximum benefit for preventive and diagnostic, basic and major services

$1,500/person per calendar year

$1,000/dependent child per lifetime Lifetime orthodontia maximum $1,500/person per lifetime

Percentages shown indicate the percent of the “payment obligation/allowable charge” paid by the plan.

Premiums per biweekly pay period

Full-time employees You Only – $6.00 You + Spouse – $11.50 You + Child(ren) – $12.50 You + Family – $20.00

You Only – $24.50 You + Spouse – $48.25 You + Child(ren) – $53.25 You + Family – $84.00

Regular part-time employees You Only – $11.00 You + Spouse – $22.00 You + Child(ren) – $23.50 You + Family – $37.50

You Only – $29.50 You + Spouse – $58.75 You + Child(ren) – $64.25 You + Family – $101.50

Deductible (per calendar year)

Coverage

Vision Eligibility: Full-time, regular part-time Get the following coverage for eyeglasses and contact lenses purchased through a variety of retail and private practice optometrists and ophthalmologists. Discounts on diagnostic hearing exams and hearing aids are also available. (This coverage supplements the annual eye exam available through our medical plans.) You pay from $4.18 to $11.52 per pay depending on whom you cover.

Product/service

Frames

Your in-network cost

Standard plastic lenses (includes polycarbonate and anti-reflective coatings) Single Vision Bifocal Trifocal Standard Progressive Premium Progressive Tier 1 Tier 2 Tier 3 Tier 4

$0 for frames up to $150 retail value; 80% of balance over $150

$10 copay $10 copay $10 copay $75 copay

$95 copay $105 copay $120 copay $75 copay for lenses up to $120 retail value; 80% of balance over $120

Lens options UV coating Tint (solid and gradient) Standard scratch resistance Standard polycarbonate Photochromatic/transitions (plastic) Polarized Standard anti-reflective coating Premium anti-reflective coating Tier 1 Tier 2 Tier 3 Other add-ons and services

$15 copay $15 copay $15 copay $0 (paid in full by plan) $75 copay 80% of retail price $0 (paid in full by plan)

$12 copay $23 copay 80% of retail price 80% of retail price

Contact lenses (both eyes) Conventional (up to $150 retail value) Disposable (up to $150 retail value) Medically necessary

85% of balance over $150 100% of balance over $150 $0 (paid in full by plan)

Lasik surgery from US Laser Network 85% of regular retail price; 95% of promotional price

Hearing Eligibility: Full-time, regular part-time As a supplement to the routine hearing exam available under our medical plans, you can choose coverage for diagnostic hearing exams and hearing aids through a national network of audiologists and ear, nose and throat specialists. (This coverage is more extensive than the discounts provided under the vision plan.) You also receive a free extended three-year warranty and a one-year supply of batteries with all hearing aid purchases. You pay from $0.38 to $.92 per pay depending on whom you cover.

Benefit Coverage

In-network: $0 copay Out-of-network: Up to $70 reimbursement towards the cost of an exam

Adults: Once every 24 consecutive months from the last service

Children: Once every 12 consecutive months from the last service

$500 per ear discount off of the regular Epic Hearing Service Plan price

Adults: Once every 60 consecutive months from the last service

Children: Once every 24 consecutive months from the last service

Hearing exam

Hearing aid/device

Wellbeing In addition to wellness resources included with our UnitedHealthcare medical plans (see page 5), you have access to the following programs and resources to support your physical and mental health and total wellbeing.

• LifeWorks: Free in-person counseling, and telephonic health coaching and life coaching, plus a wealth of information, resources, tools and support online and by phone empower you in all areas of your life: personal and professional, financial, legal, health, family, relationships and more.

• Onsite employee health centers: Nurse practitioners in several of our larger locations offer easier, more convenient and more affordable care for minor illnesses or medical services — at no cost to you.

• Stop Smoking Program: Support and resources help you become tobacco-free, including 100 percent coverage for nicotine replacement therapy.

• Weight Watchers®: 50 percent reimbursement of already discounted membership fees and onsite meetings in certain locations.

Non-tobacco users pay less for coverage

To help employees and their loved ones in our medical plans become tobacco and nicotine-free, and to help keep medical plan costs as low as possible for everyone, we offer a stop smoking program. Participants work with a quit coach to receive the support they need to kick the habit. Those who are not tobacco and nicotine-free and choose not to complete the program (generally five coaching calls) pay an additional $25 per pay for medical coverage.

Savings and spending accounts

Health Savings Account (HSA) Eligibility: Full-time, enrolled in an HSA Advantage medical plan, meet IRS requirements When you enroll in an HSA Advantage medical plan, you can contribute to an HSA. You’ll also get up to $500 (if you cover yourself) or $1,000 (if you cover family members, too) from U.S. Bank to help build up your HSA balance. The HSA provides a tax-advantaged way for you to save and pay for qualified healthcare expenses, including doctor and dentist visits, prescriptions, glasses, contact lenses and more. You own your HSA and all the money in it, even if you change medical plans. There is no deadline to use your HSA balance, so it can be a tax-effective way to save for future medical expenses, including those you may have in retirement.

Healthcare Flexible Spending Accounts (FSA) Eligibility: Full-time Depending on your HSA eligibility, you’ll be offered either the general purpose or limited purpose flexible spending account, regardless of whether you enroll in a U.S. Bank medical plan. You make contributions before taxes and your entire annual contribution amount is available at the beginning of the year. If you don’t use the entire balance by the end of the year, you may carry over up to $500 to use the next year (if you participate again the following year), but any additional unused balance will be forfeited.

Estimate your expenses carefully You need to use the money in your Dependent Care FSA in the same plan year or you’ll lose the remaining balance. With the Healthcare FSA rollover, you’ll lose anything greater than $500.

Dependent Care Flexible Spending Account (FSA) Eligibility: Full-time, regular part-time With the Dependent Care FSA, you save money on income taxes by paying for daycare expenses with pre-tax money.

Life and disability plans

Basic Employee Term Life Insurance Eligibility: Full-time At no cost to you, you’ll get term life insurance coverage equal to your annual pay* (up to $300,000). No enrollment is required and this coverage is entirely paid for by the company. You can even continue your coverage if you leave U.S. Bank, with certain restrictions.

Optional Employee Term Life Insurance Eligibility: Full-time, regular part-time Purchase up to eight times your pay* ($4 million maximum) in term life coverage on yourself beyond the coverage provided by U.S. Bank (see above). During your initial enrollment, up to three times pay ($750,000 maximum) is available without evidence of insurability. At subsequent annual enrollments, you may purchase or increase coverage by one times pay (up to the lesser of three times pay or $750,000) without evidence of insurability. You can even continue your coverage if you leave U.S. Bank, with certain restrictions.

Optional Spouse/Domestic Partner Term Life Insurance Eligibility: Full-time, regular part-time Choose from five coverage levels from $10,000 to $100,000 of term life insurance for your spouse or domestic partner. During your initial enrollment, up to $50,000 is available without evidence of insurability. At subsequent annual enrollments, evidence of insurability is required for new or increased coverage. You can even continue your coverage if you leave U.S. Bank, with certain restrictions.

Optional Child(ren) Term Life Insurance Eligibility: Full-time, regular part-time Choose from five coverage levels from $5,000 to $25,000 of term life insurance for your children without evidence of insurability. You may increase coverage during future annual enrollments or during the year if you experience a qualifying status change. You can even continue your coverage if you leave U.S. Bank, with certain restrictions.

Business Travel Accidental (BTA) Death and Dismemberment Insurance Eligibility: Full-time, regular part-time, part-time You are protected by BTA insurance at no cost to you. BTA provides a benefit if you die or sustain certain injuries at work or while traveling on U.S. Bank business.

*In general, for most employees,“pay” is defined as the higher of annualized base salary or annualized base salary plus annual incentive compensation for a one-year period preceding the plan year. Some plans (such as LTD) have plan maximums. See the applicable summary plan description for a more detailed definition of Total Cash Compensation.

Accidental Death and Dismemberment (AD&D) Insurance Eligibility: Full-time, regular part-time Get coverage in the event of accidental death and certain accidental injuries and conditions. You have the option to elect coverage for yourself and your family in multiple coverage levels.

Long-Term Disability (LTD) Eligibility: Full-time, regular part-time With our LTD plan, you elect either 50 or 60 percent of pay* replacement if you’re disabled and cannot work beyond the initial 26 weeks (or 90 days for 100 percent commission employees) covered by Short-Term Disability (see the Time Away From Work section). If you’re full-time, U.S. Bank pays the cost of the 50 percent of pay coverage option.

Commuter plans

Transit Plan Eligibility: Full-time, regular part-time Purchase your transit or vanpool vouchers with before-tax dollars and enjoy the convenience of having them sent directly to your home. You also receive $35 each month you participate from U.S. Bank. Begin participating any time throughout the year by placing a transit order online using Your Spending Account.

Parking Flexible Spending Account (FSA) Eligibility: Full-time, regular part-time Use before-tax dollars to pay for work-related parking expenses. Begin participating any time by placing a parking order online using Your Spending Account.

Metropass Eligibility: Full-time, regular part-time, work location in the seven-county Minneapolis/ St. Paul metropolitan area Purchase a Metropass at a reduced price (U.S. Bank pays $35 each month) and the cost will be deducted before-tax from your pay. To participate, enroll during your new hire enrollment or annual enrollment, or at any other time throughout the year.

Time away from work

Recharge, refresh and take care of personal responsibilities with the following:

Paid vacation Eligibility: Full-time, regular part-time Your paid vacation is based on the hours you’re scheduled to work, years of service and job grade. It generally ranges from two to four weeks per year as a new employee. You begin to earn vacation the first of the month following three full months at the bank (e.g., if you start on Jan. 18, you begin to earn vacation on May 1).

Purchased vacation Eligibility: Full-time, regular part-time Each annual enrollment, you may purchase up to one week of additional vacation in one- hour increments, not to exceed your scheduled weekly hours.

Sick and Safe Leave Eligibility: All employees You receive sick and safe pay for up to 80 hours each calendar year (or unlimited for employees in California and Washington) for medical appointments, personal illness or the illness of a family member, and other reasons as allowed by law. You accrue one hour for every 30 hours worked and may carry up to 80 hours over to the next year. Accrued sick time is capped at 80 hours at any given time.

Short-Term Disability Eligibility: Full-time, regular part-time (100 percent commission employees are not eligible) Once you have a year of service, you receive 100 percent pay* replacement for up to 13 weeks (and 60 percent pay for another 13 weeks, if needed) if you’re unable to work due to illness or injury. You receive this benefit at no cost to you. (After 26 weeks, you may be eligible for Long-Term Disability.)

Paid leave and benefits for new parents Eligibility: Full-time, regular part-time Your experience of becoming a parent and developing an early and meaningful child-parent bond should be as stress-free as possible. That’s why we provide 13 weeks of paid leave (a combination of pregnancy disability leave and parental leave) to the birth parent and four weeks of paid parental leave to non-birth parents. And with our adoption and surrogacy assistance programs, you can receive up to $10,000 in reimbursement of eligible expenses.

*In general, for most employees, “pay” is defined as the higher of annualized base salary or annualized base salary plus annual incentive compensation for a one-year period preceding the plan year. Some plans (such as LTD) have plan maximums. See the applicable summary plan description for a more detailed definition of Total Cash Compensation.

This document provides highlights of various U.S. Bank employee benefits. In all cases, this document is not part of the official plan/program documents, nor is it used to administer the plans/ programs. If there is a discrepancy between this document and the official plan/program documents, the official plan/program documents govern.