b'TOTAL REWARDSIMPACTING OUR COMMUNITIESEmployees are one of the Banks greatest assets, as their leadership and example drive success andcustomer-centeredexcellence. TheBanksPay Equitycompensation program has stated objectives to: AtOceanFirst,payequitymeansthatourProvide a comprehensive compensation people are paid fairly. One of the most import-package that is competitive within the ant ways to show our employees we value them marketplace, so the Bank may attract, is to ensure fair pay practices. Compensationreward,andretainhighly-qualified,policies and practices are equitable, competitive andperformance-driven.Wecreatecompen-motivated, and productive employees sationsystemsandobjectivemetricsaround recruitment,performance,andadvancement,Incent and reward individual behaviors and we invest in analysis and transparency to that improve the Banks performance in a demonstrate our commitment.manner that is consistent with its businessand strategic plans, while encouragingprudent decision making and safe and INCENTIVE AND REWARD PROGRAMSsound banking practicesOceanFirstBankiscommittedtorewardingMotivate each individual to perform to the employees for their contributions to the Banks best of his or her ability financialsuccess.WeofferincentiveprogramsforourBranchandCorporatestaff,inaddition to internal recognition and reward programs thatRecognize the Banks cost structure and the emphasizeaccomplishmentsandfosterem- OCEANFIRST WAVEMAKERS OCEANFIRST FOUNDATIONeconomic environment ployee engagement. Incentives are based on a combination of individual and Bank performance. TheBankencouragesemployeevolunteerismIn 1996, OceanFirst Foundation was established throughtheWavemakersprogram,whichpro- with the sole mission of providing financial re-Spot Awards motesinternalandexternalvolunteeropportuni- sourcestothecharitablenon-profitorganizationsTheSpotAwardProgramprovidesemployeeties throughout the Banks footprint. As part of itshelpingourneighbors.Withapprovalfromthe recognition in the form of a financial award benefitpackage,allBankemployeesareeligiblefor Banks depositors, OceanFirst became the firstforasignificantachievementthatproducesan up to eight hours of paid time off for approved vol- bank in the country to create a private foundation outstanding contribution beyond the scope ofunteer work. During the past year, Wavemakers vol- during their conversion to stock ownership. Since an employees position. unteered for Habitat for Humanity, Philabundance,itsestablishment,theFoundationhasgranted Beach Sweep, Move for Hunger, Hope Sheds Light,over$44milliontohundredsoflocalcharities Bravo & Shining Star Jazz Arts Project, and more. Charitable donationsand schools throughout the Banks footprint, in-Bravo provides an opportunity for peer-to-peerby Bank employees are also eligible for an aggre- cludingscholarshipsawardedtolocalcolleges appreciation and manager/employee recognition.gate annual $50,000 matching gift program admin- and universities and Model Classroom and Good E-Cards awarded via Bravo serve as nominationsistered by the Foundation. Neighbor grants.to the Shining Star Recognition Program, which recognizesemployeeswhoexemplifyestab- $44 MILLION+ OVERALL DONATIONS BY8,600+ GRANTS AWARDED THROUGHOUTlished customer service standards and modelOCEANFIRST FOUNDATION THE COMMUNITIES WE SERVEour Core Values. $1.7 MILLION+ FOUNDATION GRANT 1,900+ NUMBER OF HOURS WAVEMAKERS BUDGET FOR 2021 VOLUNTEERED IN 202120 OCEANFIRST BANK HUMAN CAPITAL REPORT21'