June 8, 2020

Dear Ramirez Employees:

I want to let you know that I - and all of Ramirez leadership - stand with the Black Community. We are sickened by what happened to George Floyd, Ahmaud Arbery, and the other recent victims of horrible racial violence the past few years and for many years before these events. We abhor the systemic racism and social injustices in America that Black and Brown people are subjected to. We stand with the peaceful protestors and agree that we all need to work together to make America a more just and fair country. As a first generation American Puerto Rican, I understand the issues minorities today are facing. I have been fortunate to be a successful entrepreneur, but while growing our firm I have had to confront many cases of discrimination and inequality in the American business world. Fifty years ago I remember being told not to name the firm Ramirez, because "no-one would do business with a Hispanic firm." I understand the progress that has been made, but much more progress needs to be made to change the fundamental problems of racial and class inequities in housing, education, healthcare and our justice system. This is a critical moment in time and it is imperative we collectively take the steps to make change and move the needle. There is no tolerance at Ramirez for racial discrimination of any type and, at a minimum, it is our responsibility and obligation to increase our outreach to the minority community in our charitable giving, internships, hiring, and professional development programs. To that end we will:

• Make a commitment to continue to increase the diversity of the Ramirez workforce and the professional development of our minority employees;
• Make a commitment to continue to grow our internship and education efforts for up and coming minority professionals;
• Establish an internal dialog to discuss these issues and formulate solutions to make change;
• Focus more of our charitable giving to organizations that work to change inequities in housing, education, healthcare and our justice system; and
• Be supportive of our clients' efforts to change these inequities in America.

Diversity Statement:

As one of the oldest and largest Hispanic institutions on Wall Street, we are proud of our origins and strive to lead the way in benefiting those most in need. Being 92% minority owned & 100% employee owned, we take pride that 100% of our regional offices are being led by a minority or military veteran. When focusing on the senior leadership roles at Ramirez & Co and Ramirez Asset Management there is an impressive 60% minority representation. We believe that this diverse workforce is a key ingredient to our success and thus over the last ten year periods 40+% of all new hires have been minorities. We have a robust internal program that provides junior minority employees mentorship opportunities with senior leaders that help them navigate the industry and advance within the firm. This pipeline of talent starts with our intern program where over the last ten years 65% of all interns have been minorities with the current class being representative of that. Overall 40+% of the total Ramirez family is composed of minorities.

We are committed to continuing to be industry leaders in the inclusion of minorities in the financial industry and firmly believe that this is a key part of our future success.

Charitable Giving Statement:

Now more than ever is the time to concentrate on giving to causes that have the potential to improve our country and create the most value for future generations. Over the last five years Ramirez has focused our giving to organizations whose missions include the education of minority populations, community support, healthcare and mentorship programs. A total of over 100 charities with 18+ unique causes were supported with almost $850k+ in total donations made. Ramirez is committed to increasing our support of organizations that are focused on racial and class inequities in housing, education, healthcare and our justice system.