Schwab Delivers Record Net New Assets & Earnings

For best results when printing this announcement, please click on link below: Schwab Delivers Record Net New Assets & Earnings Record Quarterly Core Net New Assets of $190.4 Billion, Up 38% Year-Over-Year 3Q Net Revenues Reached a Record $7.2 Billion, Up 17% Year-Over-Year Record GAAP Earnings Per Share of $1.62; $1.69 Adjusted ((1)) — Up 29% versus 3Q25 The Charles Schwab Corporation reported net income for the third quarter totaling $2.9 billion, or earnings per share of $1.62. Excluding $151 million of pre-tax transaction-related costs, adjusted ((1)) net income and earnings per share equaled $3.0 billion and $1.69, respectively. This press release features multimedia.

View the full release here: Client Driven $190.4B “During the third quarter, clients opened 1.2 million new brokerage accounts 3Q26 Core and entrusted Schwab with $190.4 billion in core net new assets — an Growth annualized growth rate of 5.8%. We are delivering new capabilities and Net New Assets solutions, while our leading value proposition continues to resonate with investors and RIAs.” President & CEO Rick Wurster Deepen Client Relationships 55% “As investing plays an increasingly central role in people’s financial 3Q26 Schwab Wealth Advisory™ Net Flows Growth vs.

3Q25 lives, clients continue to turn to Schwab for our broad set of wealth, trading, and banking capabilities. During the quarter, Pledged Asset Line™ balances grew to $37.3 billion, up 59% year-over-year, while net flows into Schwab Wealth Advisory™ increased 55%.” President & CEO Rick Wurster Diversified Revenue Growth 17% “Deeper client engagement across Schwab's platform continues to broaden and 3Q26 Revenue strengthen our revenue model, helping our third quarter revenue increase 17% year-over-year to a record $7.2 billion.” Growth vs.

3Q25 CFO Mike Verdeschi Strong Earnings Momentum 29% “Our diversified business model, continued focus on meeting clients’ 3Q26 GAAP EPS evolving needs, and industry leading scale combined to drive year-over-year GAAP earnings growth of 29% to a record $1.62, or $1.69 on an adjusted ((1)) Growth vs.

3Q25 basis.” CFO Mike Verdeschi 3Q26 Client and Business Highlights Total client assets increased 15% year-over-year to $13.33 trillion Core net new assets totaled $190.4 billion, up 38% versus 3Q25 New brokerage account openings equaled 1.2 million, helping bring total client accounts to 48.6 million Managed Investing Solutions net flows grew 22% versus 3Q25 Bank loan balances equaled $72.3 billion at September month-end, up 35% year-over-year Margin loan balances increased 14% quarter-over-quarter to $187.9 billion at quarter-end, including $60.7 billion related to long/short strategies ((2)) Daily average trading volume equaled 10.7 million — up 44% versus 3Q25 Announced Single Stock Futures on the thinkorswim(®) trading platform and plans to expand digital assets available in Schwab Crypto™ Introduced Charley, a new AI-powered assistant that provides U.S.

retail clients with conversational access to Schwab’s tools and insights Partnered with Anthropic to bring Claude for Financial Advisors directly to the independent RIAs Schwab serves Schwab was recognized as one of Fortune’s 2026 Most Innovative Companies ((3)) Three Months Ended % Nine Months Ended % September 30, September 30, Financial Highlights 2026 2025 Change 2026 2025 Change Net revenues (in millions) $ 7,171 $ 6,135 17% $ 20,725 $ 17,585 18% Net income (in millions) GAAP $ 2,906 $ 2,358 23% $ 8,185 $ 6,393 28% Adjusted $ 3,021 $ 2,456 23% $ 8,539 $ 6,686 28% Diluted earnings per common share GAAP $ 1.62 $ 1.26 29% $ 4.53 $ 3.33 36% Adjusted $ 1.69 $ 1.31 29% $ 4.73 $ 3.49 36% Pre-tax profit margin GAAP 52.7 % 49.2 % 51.3 % 47.1 % Adjusted 54.8 % 51.3 % 53.5 % 49.3 % Return on average common stockholders’ equity (annualized) 25 % 21 % 24 % 20 % Return on tangible common equity (annualized) 44 % 38 % 42 % 37 % Note: Items labeled “adjusted” are non-GAAP financial measures; further details are included on pages 10-12 of this release.

All per-share results are rounded to the nearest cent, based on weighted-average diluted common shares outstanding.

3Q26 Financial Commentary Quarterly net revenues grew year-over-year by 17% to a record $7.2 billion Net interest margin expanded quarter-over-quarter to 3.04% Client transactional sweep cash balances ended September at $492.8 billion, an increase of $7.1 billion versus the prior quarter-end, reflecting continued demand for long/short strategies and organic growth, partially offset by client asset allocation decisions Average interest-earning assets for the quarter equaled $451.5 billion, up 8% versus 3Q25 Asset management and administration fees grew by 14% year-over-year to $1.9 billion, powered by the firm’s organic growth and investors’ increased utilization of our wealth and asset management solutions Clients remained engaged with the market, driving trading revenue of $1.2 billion, up 16% year-over-year GAAP expenses for the quarter increased 9% year-over-year; excluding acquisition and integration-related costs and the amortization of acquired intangibles of $151 million, adjusted total expenses( (1) )were also up 9% relative to 3Q25 Capital ratios across the firm remained strong — including preliminary consolidated Tier 1 Leverage and adjusted Tier 1 Leverage( (1)) of 8.9% and 7.0%, respectively Repurchased 4.7 million shares of our common stock for $0.5 billion during the quarter (1)) Further details on non-GAAP financial measures and a reconciliation of such measures to GAAP reported results are included on pages 10-12 of this release.

((2)) Client margin loans and short credits related to certain long/short strategies utilized by RIAs are excluded from interest-earning assets and company funding sources. ((3)) Fortune America’s Most Innovative Companies 2026 was given on March 25, 2026, and expires on March 24, 2027. The criteria, evaluation, and ranking were determined by Fortune, partnered with Statista. Visit for more information.

Schwab paid a licensing fee to Fortune for use of the award and logos. Fall Business Update The company will host its Fall Business Update for institutional investors this morning from 7:30 a.m. — 8:30 a.m. CT, 8:30 a.m.

— 9:30 a.m. ET. Registration for this Update webcast is accessible at Forward-Looking Statements This press release contains forward-looking statements relating to the company’s diversified business model, scale, capabilities, solutions, value proposition, and client engagement. These forward-looking statements reflect management’s expectations as of the date hereof.

Achievement of these expectations and objectives is subject to risks and uncertainties that could cause actual results to differ materially from the expressed expectations. Important factors that may cause such differences are described in the company’s most recent reports on Form 10-K and Form 10-Q, which have been filed with the Securities and Exchange Commission and are available on the company’s website ( ) and on the Securities and Exchange Commission’s website ( ). The company makes no commitment to update any forward-looking statements.

About Charles Schwab The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 40.3 million active brokerage accounts, 5.9 million workplace plan participant accounts, 2.4 million banking accounts, and $13.33 trillion in client assets. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc.

(member SIPC, ), and its affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services™. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products.

More information is available at THE CHARLES SCHWAB CORPORATION Consolidated Statements of Income (In millions, except per share amounts) (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 Net Revenues Interest revenue $ 4,473 $ 3,956 $ 12,581 $ 11,500 Interest expense (997 ) (906 ) (2,604 ) (2,922 ) Net interest revenue 3,476 3,050 9,977 8,578 Asset management and administration fees 1,913 1,673 5,497 4,773 Trading revenue 1,158 995 3,462 2,855 Bank deposit account fees 345 247 973 739 Other 279 170 816 640 Total net revenues 7,171 6,135 20,725 17,585 Expenses Excluding Interest Compensation and benefits 1,756 1,653 5,358 4,861 Professional services 325 293 935 853 Occupancy and equipment 316 280 902 824 Advertising and market development 114 101 326 305 Communications 172 149 533 478 Depreciation and amortization 196 212 595 644 Amortization of acquired intangible assets 141 127 415 385 Regulatory fees and assessments 73 59 211 225 Other 301 240 816 731 Total expenses excluding interest 3,394 3,114 10,091 9,306 Income before taxes on income 3,777 3,021 10,634 8,279 Taxes on income 871 663 2,449 1,886 Net Income 2,906 2,358 8,185 6,393 Preferred stock dividends and other 95 81 296 343 Net Income Available to Common Stockholders $ 2,811 $ 2,277 $ 7,889 $ 6,050 Weighted-Average Common Shares Outstanding: Basic 1,728 1,806 1,736 1,815 Diluted 1,733 1,811 1,741 1,820 Earnings Per Common Shares Outstanding: Basic $ 1.63 $ 1.26 $ 4.54 $ 3.33 Diluted $ 1.62 $ 1.26 $ 4.53 $ 3.33 THE CHARLES SCHWAB CORPORATION Financial and Operating Highlights (Unaudited) Q3-26 % change 2026 2025 (In millions, except per share amounts and as noted) vs.

vs.

Third Second First Fourth Third Q3-25 Q2-26 Quarter Quarter Quarter Quarter Quarter Net Revenues Net interest revenue 14% 4% $ 3,476 $ 3,357 $ 3,144 $ 3,172 $ 3,050 Asset management and administration fees 14% 5% 1,913 1,825 1,759 1,733 1,673 Trading revenue 16% (5)% 1,158 1,215 1,089 1,066 995 Bank deposit account fees 40% 4% 345 333 295 238 247 Other 64% (18)% 279 342 195 127 170 Total net revenues 17% 1% 7,171 7,072 6,482 6,336 6,135 Expenses Excluding Interest Compensation and benefits 6% (2)% 1,756 1,790 1,812 1,630 1,653 Professional services 11% 6% 325 307 303 344 293 Occupancy and equipment 13% 5% 316 301 285 293 280 Advertising and market development 13% 3% 114 111 101 115 101 Communications 15% (13)% 172 198 163 142 149 Depreciation and amortization (8)% (1)% 196 198 201 206 212 Amortization of acquired intangible assets 11% (1)% 141 142 132 127 127 Regulatory fees and assessments 24% 16% 73 63 75 62 59 Other 25% 3% 301 293 222 237 240 Total expenses excluding interest 9% — 3,394 3,403 3,294 3,156 3,114 Income before taxes on income 25% 3% 3,777 3,669 3,188 3,180 3,021 Taxes on income 31% — 871 869 709 721 663 Net Income 23% 4% 2,906 2,800 2,479 2,459 2,358 Preferred stock dividends and other 17% (20)% 95 119 82 92 81 Net Income Available to Common Stockholders 23% 5% $ 2,811 $ 2,681 $ 2,397 $ 2,367 $ 2,277 Earnings per common share: Basic 29% 5% $ 1.63 $ 1.55 $ 1.37 $ 1.34 $ 1.26 Diluted 29% 5% $ 1.62 $ 1.54 $ 1.37 $ 1.33 $ 1.26 Dividends declared per common share 19% — $.32 $.32 $.32 $.27 $.27 Weighted-average common shares outstanding: Basic (4)% — 1,728 1,735 1,746 1,772 1,806 Diluted (4)% — 1,733 1,739 1,752 1,777 1,811 Performance Measures Pre-tax profit margin 52.7 % 51.9 % 49.2 % 50.2 % 49.2 % Return on average common stockholders’ equity (annualized) ((1)) 25 % 25 % 23 % 22 % 21 % Financial Condition (at quarter end, in billions) Cash and cash equivalents 20% (10)% $ 36.7 $ 40.6 $ 45.0 $ 46.0 $ 30.6 Cash and investments segregated (33)% (4)% 31.8 33.0 39.8 42.9 47.8 Receivables from brokers, dealers, and clearing organizations N/M 24% 27.2 22.0 11.8 7.2 4.7 Receivables from brokerage clients — net 37% 4% 128.1 122.8 106.2 104.7 93.8 Available for sale securities (5)% (6)% 59.0 62.5 61.1 62.4 62.3 Held to maturity securities (7)% (3)% 126.6 130.6 131.7 134.0 136.7 Bank loans — net 35% 8% 72.3 67.0 60.9 58.0 53.6 Total assets 12% 1% 520.7 517.3 493.3 491.0 465.3 Bank deposits 2% (2)% 244.1 249.7 253.0 255.7 239.1 Payables to brokers, dealers, and clearing organizations 108% 6% 46.5 43.8 28.1 25.7 22.4 Payables to brokerage clients 8% 1% 125.2 124.0 118.0 116.3 115.4 Accrued expenses and other liabilities 18% 7% 13.4 12.5 12.0 12.8 11.4 Other short-term borrowings 118% 2% 14.2 13.9 12.5 6.9 6.5 Federal Home Loan Bank borrowings 122% N/M 2.0 0.5 — 1.9 0.9 Long-term debt 18% 5% 23.8 22.7 20.5 22.2 20.2 Total liabilities 13% — 469.2 467.1 444.1 441.6 415.9 Stockholders’ equity 4% 3% 51.4 50.1 49.2 49.4 49.4 Total liabilities and stockholders’ equity 12% 1% 520.7 517.3 493.3 491.0 465.3 Other Full-time equivalent employees (at quarter end, in thousands) 4% 1% 33.9 33.7 33.5 33.0 32.7 Capital expenditures — purchases of equipment, office facilities, and 110% (60)% $ 319 $ 792 $ 173 $ 158 $ 152 property, net (in millions) ((2) Expenses excluding interest as a percentage of average client assets 0.10 % 0.11 % 0.11 % 0.11 % 0.11 % (annualized) Clients’ Daily Average Trades (DATs) (in thousands) 44% (10)% 10,687 11,920 9,899 8,274 7,421 Number of Trading Days 1% 3% 64.0 62.0 61.0 63.0 63.5 Revenue Per Trade ((3)) (20)% 3% $ 1.69 $ 1.64 $ 1.80 $ 2.05 $ 2.11 (1)) Return on average common stockholders’ equity is calculated using net income available to common stockholders divided by average common stockholders’ equity.

((2)) Second quarter of 2026 includes incremental capital expenditures of $633 million related to a multi-year software license agreement with a corresponding liability recognized in long-term debt. ((3)) Revenue per trade is calculated as trading revenue divided by the product of DATs and the number of trading days. N/M Not meaningful. Percentage changes greater than 200% are presented as not meaningful.

THE CHARLES SCHWAB CORPORATION Net Interest Revenue Information (In millions, except ratios or as noted) (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 Average Interest Average Average Interest Average Average Interest Average Average Interest Average Balance Revenue/ Yield/ Balance Revenue/ Yield/ Balance Revenue/ Yield/ Balance Revenue/ Yield/ Expense Rate Expense Rate Expense Rate Expense Rate Interest-earning assets Cash and cash equivalents $ 34,525 $ 317 3.59 % $ 24,298 $ 264 4.26 % $ 32,577 $ 883 3.58 % $ 27,571 $ 897 4.29 % Cash and investments segregated 31,251 289 3.62 % 46,046 494 4.20 % 38,795 1,060 3.60 % 44,104 1,412 4.22 % Receivables from brokerage clients ((1)) 123,061 1,792 5.70 % 87,292 1,454 6.52 % 113,307 4,900 5.70 % 82,992 4,154 6.60 % Available for sale securities ((2)) 65,149 379 2.31 % 69,794 360 2.05 % 65,422 1,063 2.16 % 77,324 1,198 2.06 % Held to maturity securities ((2)) 128,026 553 1.72 % 137,672 587 1.70 % 130,433 1,690 1.72 % 141,032 1,811 1.71 % Bank loans 69,526 775 4.43 % 51,849 557 4.27 % 64,249 2,095 4.35 % 48,882 1,568 4.28 % Total interest-earning assets 451,538 4,105 3.58 % 416,951 3,716 3.51 % 444,783 11,691 3.48 % 421,905 11,040 3.46 % Securities lending revenue 238 183 507 339 Other interest revenue ((1,3)) 130 57 383 121 Total interest-earning assets $ 451,538 $ 4,473 3.90 % $ 416,951 $ 3,956 3.74 % $ 444,783 $ 12,581 3.75 % $ 421,905 $ 11,500 3.61 % Funding sources Bank deposits $ 244,309 $ 139 0.23 % $ 229,281 $ 248 0.43 % $ 244,451 $ 371 0.20 % $ 237,488 $ 1,010 0.57 % Payables to brokers, dealers, and clearing organizations 42,113 376 3.50 % 19,131 188 3.84 % 33,165 869 3.46 % 16,673 492 3.89 % Payables to brokerage clients ((1)) 106,900 59 0.22 % 96,064 67 0.28 % 106,952 174 0.22 % 92,909 176 0.25 % Other short-term borrowings 14,349 148 4.06 % 7,593 87 4.56 % 11,531 351 4.04 % 7,314 256 4.68 % Federal Home Loan Bank borrowings 929 10 3.97 % 7,103 79 4.35 % 776 23 3.90 % 9,180 322 4.62 % Long-term debt 23,572 272 4.52 % 20,204 207 4.01 % 22,206 701 4.16 % 21,029 625 3.92 % Total interest-bearing liabilities 432,172 1,004 0.91 % 379,376 876 0.91 % 419,081 2,489 0.79 % 384,593 2,881 0.99 % Non-interest-bearing funding sources 19,366 37,575 25,702 37,312 Other interest expense ((1,3)) (7 ) 30 115 41 Total funding sources $ 451,538 $ 997 0.86 % $ 416,951 $ 906 0.86 % $ 444,783 $ 2,604 0.78 % $ 421,905 $ 2,922 0.92 % Net interest revenue $ 3,476 3.04 % $ 3,050 2.88 % $ 9,977 2.97 % $ 8,578 2.69 % (1)) Beginning in the fourth quarter of 2025, average balances of margin loans and short credits related to client long/short strategies from which the Company earns a fixed net yield are excluded from interest-earning assets and funding sources.

Also beginning in the fourth quarter of 2025, related interest revenue and expense were moved from receivables from brokerage clients and payables to brokerage clients, respectively, to other interest revenue and other interest expense, respectively. Amounts and average yields have been reclassified and recalculated for 2025 periods to reflect these changes. Average margin loans related to these client strategies totaled $51.4 billion and $33.0 billion for the three and nine months ended September 30, 2026, respectively, compared to $2.8 billion and $1.3 billion for the same periods in 2025.

Average short credits related to these client strategies totaled $53.3 billion and $34.2 billion for the three and nine months ended September 30, 2026, respectively, compared to $2.8 billion and $1.3 billion for the same periods in 2025. ((2)) Amounts have been calculated based on amortized cost.