# EDGAR Filing Document

**Accession Number:** 0000316709
**File Stem:** 0000316709-26-000016
**Filing Date:** 2026-4
**Character Count:** 55096
**Document Hash:** 920212ceaae6b4aded30dff4ffcc01ca
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000316709-26-000016.hdr.sgml**: 20260416

**ACCESSION NUMBER**: 0000316709-26-000016

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260416

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260416

**DATE AS OF CHANGE**: 20260416

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SCHWAB CHARLES CORP
- **CENTRAL INDEX KEY:** 0000316709
- **STANDARD INDUSTRIAL CLASSIFICATION:** SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 943025021
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-09700
- **FILM NUMBER:** 26867811

**BUSINESS ADDRESS:**
- **STREET 1:** 3000 SCHWAB WAY
- **CITY:** WESTLAKE
- **STATE:** TX
- **ZIP:** 76262
- **BUSINESS PHONE:** 817-859-5000

**MAIL ADDRESS:**
- **STREET 1:** 3000 SCHWAB WAY
- **CITY:** WESTLAKE
- **STATE:** TX
- **ZIP:** 76262

?xml version='1.0' encoding='ASCII'? schw-20260416

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934**

**Date of Report (date of earliest event reported): April 16, 2026**

**The Charles Schwab Corporation**

(Exact name of registrant as specified in its charter)

**Commission File Number: 1-9700** 

---

| | |
|:---|:---|
| **Delaware** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**94-3025021** |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |

---

**3000 Schwab Way, Westlake, TX 76262** 

(Address of principal executive offices, including zip code)

**(817) 859-5000** 

(Registrant's telephone number, including area code)

**N/A**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| <u>Title of each class</u> | <u>Trading Symbol(s)</u> | &nbsp;&nbsp;&nbsp;<u>Name of each exchange on which registered</u> |
| Common Stock – $.01 par value per share | SCHW | New York Stock Exchange |
| Depositary Shares, each representing a 1/40th ownership interest in a share of 5.95% Non-Cumulative Preferred Stock, Series D | SCHW PrD | New York Stock Exchange |
| Depositary Shares, each representing a 1/40th ownership interest in a share of 4.450% Non-Cumulative Preferred Stock, Series J | SCHW PrJ | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition** |

---

On April 16, 2026, The Charles Schwab Corporation issued a press release announcing its financial results for the quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this report.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits** |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) | Exhibits |
| **Exhibit No.** | **Description** |
| 99.1 | <u>[Press Release dated](a1q26exhibit991.htm)[April 16](a1q26exhibit991.htm)[, 2026](a1q26exhibit991.htm)</u> |
| 104 | Cover Page Interactive Data File – the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. |

---

------

**Signature(s)**

&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | | **THE CHARLES SCHWAB CORPORATION** |
| Date: | April 16, 2026 | By: | /s/ Michael Verdeschi |
|  |  |  | Michael Verdeschi |
|  |  |  | Managing Director and Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

---

| | |
|:---|:---|
| ![cslogoa03a.jpg](cslogoa03a.jpg) | **CLIENT GROWTH & ENGAGEMENT DRIVE RECORD SCHWAB 1Q RESULTS**<br>March Core Net New Assets Equal $79.7 Billion, Second Highest Month Ever<br>Robust Engagement Drove 1Q Net Revenues to a Record $6.5 Billion, Up 16% Year-Over-Year<br>Record GAAP Earnings Per Share of $1.37; $1.43 Adjusted <sup>(1)</sup> – up 38% versus 1Q25 |

---

**WESTLAKE, Texas, April 16, 2026** – The Charles Schwab Corporation reported net income for the first quarter totaling $2.5 billion, or earnings per share of $1.37. Excluding $143 million of pre-tax transaction-related costs, adjusted <sup>(1)</sup> net income and earnings per share equaled $2.6 billion and $1.43, respectively.

---

| | | |
|:---|:---|:---|
| **Client Driven** <br>**Growth** | **$140B**<br>1Q26 Core<br>Net New Assets | "Schwab's strong business momentum continued into 2026 as investors opened 1.3 million new brokerage accounts and brought $140 billion <br>of core net new assets to the firm during the first quarter. Excluding a <br>planned mutual fund clearing deconversion, asset gathering totaled <br>$158 billion – an annualized growth rate of 5.4%."<br>*President & CEO Rick Wurster* |
| **Deepen Client Relationships** | **46%**<br>1Q26 Managed Investing<br>Net Flows Growth | "Clients continue to turn to us for more of their financial lives, helping wealth and banking solutions reach record levels in 1Q. Led by Schwab Wealth Advisory<sup>TM</sup>, Managed Investing net flows grew 46% year-over-year while bank loans expanded 29% versus 1Q25 to $60.9 billion."<br>*President & CEO Rick Wurster* |
| **Diversified Revenue Growth** | **16%**<br>1Q26 Revenue<br>Growth vs. 1Q25 | "Schwab's diversified model delivered record results within an increasingly uncertain macroeconomic environment. Driven by robust client engagement across our wealth, trading, and lending solutions, total first quarter revenue increased 16% year-over-year to $6.5 billion."<br>*CFO Mike Verdeschi* |
| **Opportunistic Capital Return** | **$2.4B**<br>1Q26 Common<br>Stock Repurchases | "During 1Q26, the company repurchased 24.3 million shares for $2.4 billion and increased its common stock dividend by 19%. These actions reflect Schwab's strong capital position as well as the sustained performance of the firm's through-the-cycle financial model." <br>*CFO Mike Verdeschi* |

---

**1Q26 Client and Business Highlights**

• Total client assets increased 19% year-over-year to $11.77 trillion

• Core net new assets totaled $140.0 billion, including a $17.5 billion outflow from a planned mutual fund clearing client deconversion; excluding this planned item, core net new assets for the quarter equaled $157.5 billion

• New brokerage account openings equaled 1.3 million, pushing active brokerage accounts and total client accounts to 39.1 million and 47.2 million, respectively

• Managed Investing Solutions net flows grew 46% versus 1Q25

• Bank loan balances equaled $60.9 billion at March month-end, up 29% year-over-year

• Margin loan balances increased 13% versus year-end 2025 to end the quarter at $126.7 billion – including $21.3 billion related to long/short strategies implemented by RIA clients <sup>(2)</sup>

• Daily average trading volume reached a record 9.9 million – up 34% versus 1Q25

• Launched the Schwab Teen Investor<sup>TM</sup> Account, a unique and hands-on investing experience for young people ages 13–17

• Closed Forge Global acquisition in early March

• Schwab ranked #1 Overall Broker by StockBrokers.com, 2 years in a row <sup>(3)</sup>

------

---

| | | | |
|:---|:---|:---|:---|
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, | % |
| Financial Highlights | 2026 | 2025 | Change |
| Net revenues (in millions) | $6482 | $5599 | 16% |
| Net income (in millions) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;GAAP | $2479 | $1909 | 30% |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted | $2588 | $2008 | 29% |
| Diluted earnings per common share |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;GAAP | $1.37 | $.99 | 38% |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted | $1.43 | $1.04 | 38% |
| Pre-tax profit margin |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;GAAP | 49.2% | 43.8% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted | 51.4% | 46.2% |  |
| Return on average common |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;stockholders' equity (annualized) | 23% | 18% |  |
| Return on tangible |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;common equity (annualized) | 40% | 35% |  |
| 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. | 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. | 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. | 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. |

---

**1Q26 Financial Commentary**

• Quarterly net revenues grew year-over-year by 16% to a record $6.5 billion

• Net interest margin for the quarter was 2.88%

• Client transactional sweep cash balances ended March at $461.5 billion, an increase of $7.8 billion versus the prior quarter-end, reflecting seasonality, organic growth, and client asset allocation decisions

• Average interest-earning assets for the quarter equaled $437.7 billion, up 2% versus 1Q25

• Trading revenue increased 20% versus 1Q25 due to record engagement

• GAAP expenses for the quarter increased 5% year-over-year; excluding acquisition and integration-related costs and the amortization of acquired intangibles of $143 million, adjusted total expenses <sup>(1)</sup> were up 5% relative to 1Q25

• Capital ratios across the firm remained strong – including preliminary consolidated Tier 1 Leverage and adjusted Tier 1 Leverage <sup>(1)</sup> equaling 8.9% and 6.8%, respectively

• Increased the quarterly common stock dividend by 19% to $.32 per share

• Repurchased 24.3 million shares of our common stock for $2.4 billion during the quarter

<sup>(1)</sup> 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.

<sup>(2)</sup> 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.

<sup>(3)</sup> The StockBrokers.com 2026 Annual Awards (<u>https://www.stockbrokers.com/annual-awards-2026</u>) were announced on January 27, 2026. Criteria, testing methodologies, and rankings were determined by StockBrokers.com. Companies were assessed across StockBrokers.com's 7 Primary Categories: Range of Investments, Advanced Trading, Mobile Trading Apps, Research, Education, Ease of Use, and Overall.

**Spring Business Update**

The company will host its Spring 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 <u>https://www.aboutschwab.com/schwabevents</u>.

------

**Forward-Looking Statements**

This press release contains forward-looking statements relating to the company's business momentum, client relationships, capital position, and through-the-cycle financial model. 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 (<u>https://www.aboutschwab.com/financial-reports</u>) and on the Securities and Exchange Commission's website (<u>https://www.sec.gov</u>). 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 39.1 million active brokerage accounts, 5.8 million workplace plan participant accounts, 2.3 million banking accounts, and $11.77 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, <u>https://www.sipc.org</u>), 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<sup>TM</sup>. 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 <u>https://www.aboutschwab.com</u>.

**Contact Information**

MEDIA

Mayura Hooper, 415-667-1525

<u>public.relations@schwab.com</u>

INVESTORS/ANALYSTS

Jeff Edwards, 817-854-6177

<u>investor.relations@schwab.com</u>

------

THE CHARLES SCHWAB CORPORATION

**Consolidated Statements of Income**

(In millions, except per share amounts)

(Unaudited)

---

| | | |
|:---|:---|:---|
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| | 2026 | 2025 |
| **Net Revenues** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest revenue | $3962 | $3757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (818) | (1051) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest revenue | 3144 | 2706 |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset management and administration fees | 1759 | 1530 |
| &nbsp;&nbsp;&nbsp;&nbsp;Trading revenue | 1089 | 908 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank deposit account fees | 295 | 245 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 195 | 210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total net revenues | 6482 | 5599 |
| **Expenses Excluding Interest** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Compensation and benefits | 1812 | 1672 |
| &nbsp;&nbsp;&nbsp;&nbsp;Professional services | 303 | 269 |
| &nbsp;&nbsp;&nbsp;&nbsp;Occupancy and equipment | 285 | 274 |
| &nbsp;&nbsp;&nbsp;&nbsp;Advertising and market development | 101 | 96 |
| &nbsp;&nbsp;&nbsp;&nbsp;Communications | 163 | 153 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 201 | 217 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired intangible assets | 132 | 130 |
| &nbsp;&nbsp;&nbsp;&nbsp;Regulatory fees and assessments | 75 | 89 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 222 | 244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses excluding interest | 3294 | 3144 |
| Income before taxes on income | 3188 | 2455 |
| Taxes on income | 709 | 546 |
| **Net Income** | 2479 | 1909 |
| Preferred stock dividends and other | 82 | 113 |
| **Net Income Available to Common Stockholders** | $2397 | $1796 |
| **Weighted-Average Common Shares Outstanding:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 1746 | 1817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 1752 | 1822 |
| **Earnings Per Common Shares Outstanding**: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | $1.37 | $.99 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | $1.37 | $.99 |

---

<sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</sup>

------

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| THE CHARLES SCHWAB CORPORATION | THE CHARLES SCHWAB CORPORATION | THE CHARLES SCHWAB CORPORATION | THE CHARLES SCHWAB CORPORATION | THE CHARLES SCHWAB CORPORATION | THE CHARLES SCHWAB CORPORATION | THE CHARLES SCHWAB CORPORATION | THE CHARLES SCHWAB CORPORATION |
| **Financial and Operating Highlights** | **Financial and Operating Highlights** | **Financial and Operating Highlights** | **Financial and Operating Highlights** | **Financial and Operating Highlights** | **Financial and Operating Highlights** | **Financial and Operating Highlights** | **Financial and Operating Highlights** |
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) |
|  | <u>Q1-26 % change</u> | <u>Q1-26 % change</u> | 2026 | 2025 | 2025 | 2025 | 2025 |
|  | vs. | vs. | First | Fourth | Third | Second | First |
| (In millions, except per share amounts and as noted) | Q1-25 | Q4-25 | Quarter | Quarter | Quarter | Quarter | Quarter |
| **Net Revenues** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest revenue | 16% | (1)% | $3144 | $3172 | $3050 | $2822 | $2706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset management and administration fees | 15% | 2% | 1759 | 1733 | 1673 | 1570 | 1530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trading revenue | 20% | 2% | 1089 | 1066 | 995 | 952 | 908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank deposit account fees | 20% | 24% | 295 | 238 | 247 | 247 | 245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | (7)% | 54% | 195 | 127 | 170 | 260 | 210 |
| Total net revenues | 16% | 2% | 6482 | 6336 | 6135 | 5851 | 5599 |
| **Expenses Excluding Interest** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation and benefits | 8% | 11% | 1812 | 1630 | 1653 | 1536 | 1672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professional services | 13% | (12)% | 303 | 344 | 293 | 291 | 269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occupancy and equipment | 4% | (3)% | 285 | 293 | 280 | 270 | 274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advertising and market development | 5% | (12)% | 101 | 115 | 101 | 108 | 96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communications | 7% | 15% | 163 | 142 | 149 | 176 | 153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | (7)% | (2)% | 201 | 206 | 212 | 215 | 217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired intangible assets | 2% | 4% | 132 | 127 | 127 | 128 | 130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regulatory fees and assessments | (16)% | 21% | 75 | 62 | 59 | 77 | 89 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | (9)% | (6)% | 222 | 237 | 240 | 247 | 244 |
| Total expenses excluding interest | 5% | 4% | 3294 | 3156 | 3114 | 3048 | 3144 |
| Income before taxes on income | 30% |  | 3188 | 3180 | 3021 | 2803 | 2455 |
| Taxes on income | 30% | (2)% | 709 | 721 | 663 | 677 | 546 |
| **Net Income** | 30% | 1% | 2479 | 2459 | 2358 | 2126 | 1909 |
| Preferred stock dividends and other | (27)% | (11)% | 82 | 92 | 81 | 149 | 113 |
| **Net Income Available to Common Stockholders** | 33% | 1% | $2397 | $2367 | $2277 | $1977 | $1796 |
| Earnings per common share: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 38% | 2% | $1.37 | $1.34 | $1.26 | $1.09 | $.99 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 38% | 3% | $1.37 | $1.33 | $1.26 | $1.08 | $.99 |
| Dividends declared per common share | 19% | 19% | $.32 | $.27 | $.27 | $.27 | $.27 |
| Weighted-average common shares outstanding: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | (4)% | (1)% | 1746 | 1772 | 1806 | 1817 | 1817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | (4)% | (1)% | 1752 | 1777 | 1811 | 1822 | 1822 |
| **Performance Measures** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-tax profit margin |  |  | 49.2% | 50.2% | 49.2% | 47.9% | 43.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Return on average common stockholders' equity (annualized) <sup>(1)</sup> |  |  | 23% | 22% | 21% | 19% | 18% |
| **Financial Condition (at quarter end, in billions)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | 29% | (2)% | $45.0 | $46.0 | $30.6 | $32.2 | $35.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and investments segregated | 4% | (7)% | 39.8 | 42.9 | 47.8 | 45.6 | 38.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivables from brokers, dealers, and clearing organizations | N/M | 64% | 11.8 | 7.2 | 4.7 | 4.3 | 2.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivables from brokerage clients — net | 26% | 1% | 106.2 | 104.7 | 93.8 | 82.8 | 84.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Available for sale securities | (18)% | (2)% | 61.1 | 62.4 | 62.3 | 67.6 | 74.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Held to maturity securities | (8)% | (2)% | 131.7 | 134.0 | 136.7 | 139.7 | 143.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank loans — net | 29% | 5% | 60.9 | 58.0 | 53.6 | 50.4 | 47.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 7% |  | 493.3 | 491.0 | 465.3 | 458.9 | 462.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank deposits | 3% | (1)% | 253.0 | 255.7 | 239.1 | 233.1 | 246.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payables to brokers, dealers, and clearing organizations | 79% | 9% | 28.1 | 25.7 | 22.4 | 18.6 | 15.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payables to brokerage clients | 17% | 1% | 118.0 | 116.3 | 115.4 | 109.4 | 100.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | 9% | (6)% | 12.0 | 12.8 | 11.4 | 10.8 | 11.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other short-term borrowings | 81% | 81% | 12.5 | 6.9 | 6.5 | 8.5 | 6.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Bank borrowings | (100)% | (100)% |  | 1.9 | 0.9 | 9.0 | 11.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-term debt | (5)% | (8)% | 20.5 | 22.2 | 20.2 | 20.2 | 21.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 7% | 1% | 444.1 | 441.6 | 415.9 | 409.5 | 413.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stockholders' equity | (1)% |  | 49.2 | 49.4 | 49.4 | 49.5 | 49.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | 7% |  | 493.3 | 491.0 | 465.3 | 458.9 | 462.9 |
| **Other** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Full-time equivalent employees (at quarter end, in thousands) | 4% | 2% | 33.5 | 33.0 | 32.7 | 32.6 | 32.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures — purchases of equipment, office facilities, and property, <br> net (in millions) | 11% | 9% | $173 | $158 | $152 | $136 | $156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expenses excluding interest as a percentage of average client assets (annualized) |  |  | 0.11% | 0.11% | 0.11% | 0.12% | 0.12% |
| **Clients' Daily Average Trades (DATs) (in thousands)** | 34% | 20% | 9899 | 8274 | 7421 | 7571 | 7391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Number of Trading Days | 2% | (3)% | 61.0 | 63.0 | 63.5 | 62.0 | 60.0 |
| **Revenue Per Trade** <sup>(2)</sup> | (12)% | (12)% | $1.80 | $2.05 | $2.11 | $2.03 | $2.05 |

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<sup>(1)</sup> Return on average common stockholders' equity is calculated using net income available to common stockholders divided by average common stockholders' equity.

<sup>(2)</sup> 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<br>March 31, | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| | 2026 | 2026 | 2026 | 2025 | 2025 | 2025 |
| | Average<br>Balance | Interest<br>Revenue/<br>Expense | Average<br>Yield/<br>Rate | Average<br>Balance | Interest<br>Revenue/<br>Expense | Average<br>Yield/<br>Rate |
| **Interest-earning assets** |  |  |  |  |  |  |
| Cash and cash equivalents | $32477 | $288 | 3.56% | $30483 | $328 | 4.31% |
| Cash and investments segregated | 43946 | 397 | 3.61% | 38611 | 412 | 4.27% |
| Receivables from brokerage clients <sup>(1)</sup> | 104520 | 1499 | 5.74% | 82902 | 1379 | 6.65% |
| Available for sale securities <sup>(2)</sup> | 65255 | 326 | 2.00% | 84590 | 433 | 2.05% |
| Held to maturity securities <sup>(2)</sup> | 132192 | 567 | 1.72% | 144401 | 622 | 1.72% |
| Bank loans | 59285 | 627 | 4.27% | 46043 | 493 | 4.32% |
| &nbsp;&nbsp;&nbsp;Total interest-earning assets | 437675 | 3704 | 3.39% | 427030 | 3667 | 3.44% |
| Securities lending revenue |  | 91 |  |  | 60 |  |
| Other interest revenue <sup>(1)</sup> |  | 167 |  |  | 30 |  |
| &nbsp;&nbsp;&nbsp;Total interest-earning assets | $437675 | $3962 | 3.63% | $427030 | $3757 | 3.52% |
| **Funding sources** |  |  |  |  |  |  |
| Bank deposits | $242679 | $118 | 0.20% | $245719 | $436 | 0.72% |
| Payables to brokers, dealers, and clearing organizations | 25508 | 217 | 3.40% | 14177 | 137 | 3.88% |
| Payables to brokerage clients <sup>(1)</sup> | 105095 | 56 | 0.22% | 90173 | 49 | 0.22% |
| Other short-term borrowings | 9103 | 92 | 4.07% | 6695 | 82 | 4.96% |
| Federal Home Loan Bank borrowings | 1277 | 12 | 3.85% | 10725 | 133 | 4.94% |
| Long-term debt | 21702 | 201 | 3.71% | 22281 | 212 | 3.81% |
| &nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 405364 | 696 | 0.69% | 389770 | 1049 | 1.08% |
| Non-interest-bearing funding sources | 32311 |  |  | 37260 |  |  |
| Other interest expense <sup>(1)</sup> |  | 122 |  |  | 2 |  |
| &nbsp;&nbsp;&nbsp;Total funding sources | $437675 | $818 | 0.75% | $427030 | $1051 | 0.99% |
| **Net interest revenue** |  | $**3144** | **2.88%** |  | $**2706** | **2.53%** |

---

<sup>(1)</sup> Beginning in the fourth quarter of 2025, average balances of client margin loans and short credits related to certain client long/short strategies from which the Company earns a fixed net yield are excluded from interest-earning assets and funding sources. Prior period amounts and average yields have been reclassified and recalculated to reflect this change. Average margin loans related to these client strategies totaled $14.1 billion and $235 million for the three months ended March 31, 2026 and 2025, respectively. Average short credits related to these client strategies totaled $14.4 billion and $237 million for the three months ended March 31, 2026 and 2025, respectively. Interest revenue and expense related to these client strategies are presented in other interest revenue and other interest expense, respectively.

<sup>(2)</sup> Amounts have been calculated based on amortized cost.

------

THE CHARLES SCHWAB CORPORATION

**Asset Management and Administration Fees Information**

(In millions, except ratios or as noted)

(Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| | 2026 | 2026 | 2026 | 2025 | 2025 | 2025 |
| | Average<br>Client<br>Assets | Revenue | Average<br>Fee | Average<br>Client<br>Assets | Revenue | Average<br>Fee |
| Schwab money market funds | $696558 | $468 | 0.27% | $621474 | $418 | 0.27% |
| Schwab equity and bond funds, exchange-traded <br> funds (ETFs), and collective trust funds (CTFs) | 818316 | 146 | 0.07% | 658588 | 122 | 0.08% |
| Mutual Fund OneSource <sup>®</sup> and other no-transaction-<br>&nbsp;&nbsp;&nbsp;&nbsp;fee funds (NTFs) | 468101 | 262 | 0.23% | 359696 | 222 | 0.25% |
| Other third-party mutual funds, ETFs, and alternatives <sup>(1)</sup> | 665887 | 115 | 0.07% | 642852 | 116 | 0.07% |
| &nbsp;&nbsp;Total mutual funds, ETFs, CTFs, and alternatives <sup>(12)</sup> | $2648862 | $991 | 0.15% | $2282610 | $878 | 0.16% |
| Managed investing solutions <sup>(2)</sup>  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fee-based | $727883 | $674 | 0.38% | $590483 | $569 | 0.39% |
| &nbsp;&nbsp;&nbsp;Non-fee-based | 145628 |  |  | 120442 |  |  |
| &nbsp;&nbsp;&nbsp;Total managed investing solutions | $873511 | $674 | 0.31% | $710925 | $569 | 0.32% |
| Other balance-based fees <sup>(13)</sup> | 963502 | 69 | 0.03% | 822350 | 64 | 0.03% |
| Other <sup>(4)</sup> |  | 25 |  |  | 19 |  |
| **Total asset management and administration fees** | **Total asset management and administration fees** | $**1759** |  |  | $**1530** |  |

---

<sup>(1)</sup> Beginning in the first quarter of 2026, alternative investments and related revenue were moved from other balance-based fees to other third-party mutual funds, ETFs, and alternatives. Prior period amounts and average fees have been reclassified and recalculated to reflect this change.

<sup>(2)</sup> Managed investing solutions includes managed portfolios, specialized strategies, and customized investment advice such as Schwab Wealth Advisory<sup>TM</sup>, Schwab Managed Portfolios<sup>TM</sup>, Managed Account Select<sup>®</sup>, Schwab Advisor Network<sup>®</sup>, Windhaven Strategies<sup>®</sup>, ThomasPartners<sup>®</sup> Strategies, Wasmer Schroeder Strategies<sup>TM</sup>, Schwab Index Advantage advised retirement plan balances, Schwab Intelligent Portfolios<sup>®</sup>, Institutional Intelligent Portfolios<sup>®</sup>, Schwab Intelligent Portfolios Premium<sup>®</sup>, Schwab Wealth Portfolios™, AdvisorDirect<sup>®</sup>, Essential Portfolios, Selective Portfolios, and Personalized Portfolios; as well as legacy non-fee managed investing solutions including Schwab Advisor Source and certain retirement plan balances. Average client assets for managed investing solutions may also include the asset balances contained in the mutual fund and/or ETF categories listed above. For the total end of period view, please see the Monthly Activity Report.

<sup>(3)</sup> Includes various asset-related fees, such as trust fees, 401(k) recordkeeping fees, and mutual fund clearing fees and other service fees.

<sup>(4)</sup> Includes miscellaneous service and transaction fees relating to mutual funds and ETFs that are not balance-based.

------

THE CHARLES SCHWAB CORPORATION

**Growth in Client Assets and Accounts**

(Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | <u>Q1-26 % Change</u> | <u>Q1-26 % Change</u> | 2026 | 2025 | 2025 | 2025 | 2025 |
| | vs. | vs. | First | Fourth | Third | Second | First |
| (In billions, at quarter end, except as noted) | Q1-25 | Q4-25 | Quarter | Quarter | Quarter | Quarter | Quarter |
| **Assets in client accounts** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Schwab One<sup>®</sup>, certain cash equivalents, and bank deposits | 13% | 3% | $390.5 | $379.5 | $357.1 | $342.7 | $345.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank deposit account balances | (12)% | (4)% | 73.5 | 76.2 | 78.5 | 82.1 | 83.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proprietary mutual funds (Schwab Funds<sup>®</sup> and Laudus Funds<sup>®</sup>) and CTFs |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market funds | 9% | 1% | 700.8 | 693.8 | 666.4 | 653.5 | 641.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity and bond funds and CTFs <sup>(1)</sup> | 20% | (2)% | 271.8 | 277.4 | 269.7 | 249.7 | 227.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total proprietary mutual funds and CTFs | 12% |  | 972.6 | 971.2 | 936.1 | 903.2 | 868.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mutual Fund Marketplace<sup>® (2)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mutual Fund OneSource<sup>®</sup> and other NTF funds | 30% | (2)% | 443.3 | 454.2 | 473.5 | 453.9 | 340.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mutual fund clearing services | 11% | (5)% | 311.1 | 327.7 | 320.2 | 298.3 | 280.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other third-party mutual funds | 6% | (1)% | 1263.7 | 1274.3 | 1237.2 | 1168.5 | 1195.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Mutual Fund Marketplace | 11% | (2)% | 2018.1 | 2056.2 | 2030.9 | 1920.7 | 1816.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total mutual fund assets | 11% | (1)% | 2990.7 | 3027.4 | 2967.0 | 2823.9 | 2684.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange-traded funds |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proprietary ETFs <sup>(1)</sup> | 29% | 3% | 512.6 | 495.3 | 476.0 | 439.7 | 398.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other third-party ETFs | 32% | 2% | 2579.8 | 2527.5 | 2395.7 | 2175.6 | 1960.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total ETF assets | 31% | 2% | 3092.4 | 3022.8 | 2871.7 | 2615.3 | 2358.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity and other securities | 21% | (3)% | 4566.9 | 4722.6 | 4624.7 | 4188.7 | 3765.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed income securities | 1% | (1)% | 780.6 | 786.8 | 792.1 | 788.0 | 775.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Margin loans outstanding | 52% | 13% | (126.7) | (112.3) | (97.2) | (83.4) | (83.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total client assets** | 19% | (1)% | $**11767.9** | $**11903.0** | $**11593.9** | $**10757.3** | $**9929.7** |
| **Client assets by business** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Services <sup>(3)</sup> | 18% | (2)% | $6566.4 | $6707.5 | $6577.2 | $6069.9 | $5557.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Advisor Services | 19% |  | 5201.5 | 5195.5 | 5016.7 | 4687.4 | 4372.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total client assets** | 19% | (1)% | $**11767.9** | $**11903.0** | $**11593.9** | $**10757.3** | $**9929.7** |
| **Net growth in assets in client accounts (for the quarter ended)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net new assets by business** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Services <sup>(3)</sup> | (22)% | (10)% | $54.1 | $60.4 | $52.7 | $31.2 | $69.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advisor Services | 36% | (12)% | 85.8 | 97.8 | 81.7 | 42.4 | 62.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net new assets** | 6% | (12)% | $**139.9** | $**158.2** | $**134.4** | $**73.6** | $**132.4** |
| &nbsp;&nbsp;&nbsp;Net market gains (losses) |  |  | (275.0) | 150.9 | 702.2 | 754.0 | (304.0) |
| &nbsp;&nbsp;**Net growth (decline)** |  |  | $**(135.1)** | $**309.1** | $**836.6** | $**827.6** | $**(171.6)** |
| **New brokerage accounts (in thousands, for the quarter ended)** | 10% | 2% | 1299 | 1268 | 1143 | 1098 | 1183 |
| **Client accounts (in thousands)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Active brokerage accounts | 6% | 2% | 39099 | 38506 | 37963 | 37476 | 37011 |
| &nbsp;&nbsp;&nbsp;&nbsp;Banking accounts | 11% | 3% | 2281 | 2214 | 2150 | 2096 | 2050 |
| &nbsp;&nbsp;&nbsp;&nbsp;Workplace Plan Participant Accounts <sup>(4)</sup> | 6% | 2% | 5844 | 5740 | 5619 | 5586 | 5495 |

---

<sup>(1)</sup> Includes balances held on and off the Schwab platform. As of March 31, 2026, off-platform equity and bond funds, CTFs, and ETFs were $46.5 billion, $4.5 billion, and $187.2 billion, respectively.

<sup>(2)</sup> Excludes all proprietary mutual funds and ETFs.

<sup>(3)</sup> First quarter of 2026 includes net outflows of $0.1 billion from off-platform Schwab Bank Retail CDs. Fourth quarter of 2025 includes net outflows of $5.7 billion from off-platform Schwab Bank Retail CDs. Third quarter of 2025 includes net outflows of $3.1 billion from off-platform Schwab Bank Retail CDs. Second quarter of 2025 includes net outflows of $6.7 billion from off-platform Schwab Bank Retail CDs. First quarter of 2025 includes net outflows of $5.3 billion from off-platform Schwab Bank Retail CDs.

<sup>(4)</sup> Includes Retirement Plan Services, Stock Plan Services, Designated Brokerage Services, and Retirement Business Services. Participants may be enrolled in services in more than one Workplace business.

------

**The Charles Schwab Corporation Monthly Activity Report For March 2026**

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **2025** | | | | | | | | | | **2026** | | | <u>Change</u> | <u>Change</u> |
| | **<u>Mar</u>** | **<u>Apr</u>** | **<u>May</u>** | **<u>Jun</u>** | **<u>Jul</u>** | **<u>Aug</u>** | **<u>Sep</u>** | **<u>Oct</u>** | **<u>Nov</u>** | **<u>Dec</u>** | **<u>Jan</u>** | **<u>Feb</u>** | **<u>Mar</u>** | <u>Mo.</u> | <u>Yr.</u> |
| **Number of Trading Days** | 21.0 | 21.0 | 21.0 | 20.0 | 21.5 | 21.0 | 21.0 | 23.0 | 18.5 | 21.5 | 20.0 | 19.0 | 22.0 |  |  |
| **Market Indices (at month end)** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dow Jones Industrial Average<sup>®</sup> | 42002 | 40669 | 42270 | 44095 | 44131 | 45545 | 46398 | 47563 | 47716 | 48063 | 48892 | 48978 | 46342 | (5)% | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;Nasdaq Composite<sup>®</sup> | 17299 | 17446 | 19114 | 20370 | 21122 | 21456 | 22660 | 23725 | 23366 | 23242 | 23462 | 22668 | 21591 | (5)% | 25% |
| &nbsp;&nbsp;&nbsp;&nbsp;Standard & Poor's<sup>®</sup> 500 | 5612 | 5569 | 5912 | 6205 | 6339 | 6460 | 6688 | 6840 | 6849 | 6846 | 6939 | 6879 | 6529 | (5)% | 16% |
| **Client Assets (in billions of dollars)** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Beginning Client Assets | 10280.2 | 9929.7 | 9892.2 | 10349.0 | 10757.3 | 10963.5 | 11228.1 | 11593.9 | 11828.0 | 11834.3 | 11903.0 | 12148.5 | 12220.3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net New Assets <sup>(1)</sup> | 55.3 | 1.1 | 33.6 | 38.9 | 45.7 | 43.3 | 45.4 | 41.6 | 38.7 | 77.9 | 27.6 | 32.5 | 79.8 | 146% | 44% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net Market Gains (Losses) | (405.8) | (38.6) | 423.2 | 369.4 | 160.5 | 221.3 | 320.4 | 192.5 | (32.4) | (9.2) | 217.9 | 39.3 | (532.2) |  |  |
| Total Client Assets (at month end) | 9929.7 | 9892.2 | 10349.0 | 10757.3 | 10963.5 | 11228.1 | 11593.9 | 11828.0 | 11834.3 | 11903.0 | 12148.5 | 12220.3 | 11767.9 | (4)% | 19% |
| &nbsp;&nbsp;&nbsp;&nbsp;*Core Net New Assets* <sup>(12)</sup> | *59.1* | *2.7* | *35.0* | *42.6* | *46.9* | *44.4* | *46.2* | *44.4* | *40.4* | *79.1* | *27.8* | *32.5* | *79.7* | *145%* | *35%* |
| Receiving Ongoing Advisory Services (at month end) | Receiving Ongoing Advisory Services (at month end) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Services | 688.8 | 688.2 | 711.2 | 737.6 | 747.9 | 771.1 | 792.5 | 807.6 | 817.9 | 824.8 | 849.5 | 866.8 | 841.3 | (3)% | 22% |
| &nbsp;&nbsp;&nbsp;&nbsp;Advisor Services | 4372.3 | 4353.0 | 4525.6 | 4687.4 | 4765.1 | 4888.2 | 5016.7 | 5106.1 | 5155.9 | 5195.5 | 5311.7 | 5394.3 | 5201.5 | (4)% | 19% |
| **Client Accounts (at month end, in thousands)** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Active Brokerage Accounts | 37011 | 37254 | 37375 | 37476 | 37658 | 37798 | 37963 | 38145 | 38266 | 38506 | 38730 | 38925 | 39099 |  | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banking Accounts | 2050 | 2066 | 2077 | 2096 | 2116 | 2137 | 2150 | 2172 | 2189 | 2214 | 2239 | 2258 | 2281 | 1% | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;Workplace Plan Participant Accounts <sup>(3)</sup> | 5495 | 5518 | 5563 | 5586 | 5619 | 5606 | 5619 | 5696 | 5730 | 5740 | 5793 | 5829 | 5844 |  | 6% |
| **Client Activity** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;New Brokerage Accounts (in thousands) | 388 | 439 | 336 | 323 | 377 | 382 | 384 | 429 | 365 | 474 | 476 | 395 | 428 | 8% | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;Client Daily Average Trades (DATs) (in<br> thousands) | 7365 | 8362 | 7184 | 7147 | 7252 | 7182 | 7832 | 8617 | 8459 | 7746 | 9512 | 9922 | 10232 | 3% | 39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative Trades as a Percentage of Total<br> Trades | 19.5% | 18.4% | 21.0% | 20.8% | 21.3% | 22.5% | 22.3% | 23.8% | 21.7% | 21.4% | 20.1% | 20.1% | 20.4% | 30 bp | 90 bp |
| &nbsp;&nbsp;&nbsp;&nbsp;Margin Balances at month end (in billions of <br> dollars) | 83.6 | 76.2 | 81.3 | 83.4 | 88.3 | 92.4 | 97.2 | 105.6 | 110.1 | 112.3 | 116.3 | 120.6 | 126.7 | 5% | 52% |
| &nbsp;&nbsp;&nbsp;&nbsp;Schwab Trading Activity Index<sup>TM</sup> (STAX) <sup>(4)</sup> | 48.4 | 41.2 | 39.7 | 40.7 | 41.8 | 43.7 | 46.1 | 48.1 | 48.8 | 48.5 | 50.0 | 57.3 | 56.0 | (2)% | 16% |
| **Selected Balances (in billions of dollars)** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average Interest-Earning Assets <sup>(5)</sup> | 424.9 | 430.4 | 418.7 | 416.5 | 416.7 | 414.4 | 419.8 | 428.3 | 429.1 | 436.0 | 441.7 | 434.2 | 436.8 | 1% | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Transactional Sweep Cash <sup>(6)</sup> (at month end) | 407.8 | 403.3 | 398.1 | 412.1 | 407.5 | 406.7 | 425.6 | 428.8 | 427.5 | 453.7 | 433.3 | 436.1 | 461.5 | 6% | 13% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Money Market Funds (at month end) | 641.9 | 637.8 | 645.8 | 653.9 | 658.6 | 665.2 | 667.0 | 675.5 | 685.9 | 694.5 | 693.4 | 696.2 | 702.2 | 1% | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Client Cash as a Percentage of Client Assets <sup>(7)</sup> | 10.6% | 10.5% | 10.1% | 9.9% | 9.7% | 9.5% | 9.4% | 9.3% | 9.4% | 9.7% | 9.3% | 9.3% | 9.9% | 60 bp | (70) bp |
| **Net Buy (Sell) Activity (in billions of dollars)** <sup>(8)</sup> |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mutual Funds | (8.5) | (14.0) | (3.2) | (5.4) | (3.4) | (2.2) | (4.8) | (6.3) | (7.3) | (3.6) | (0.9) | (2.4) | (8.5) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange-Traded Funds (ETFs) | 18.2 | 18.8 | 21.9 | 19.4 | 25.8 | 23.0 | 25.6 | 28.1 | 24.9 | 39.8 | 34.8 | 37.4 | 25.3 |  |  |

---

<sup>(1)</sup> Unless otherwise noted, differences between net new assets and core net new assets are net flows from off-platform Schwab Bank Retail CDs.

<sup>(2)</sup> Net new assets before significant one-time inflows or outflows, such as acquisitions/divestitures or extraordinary flows (generally greater than $25 billion) relating to a specific client, and activity from off-platform Schwab Bank Retail CDs. These flows may span multiple reporting periods.

<sup>(3)</sup> Includes Retirement Plan Services, Stock Plan Services, Designated Brokerage Services, and Retirement Business Services. Participants may be enrolled in services in more than one Workplace business.

<sup>(4)</sup> For additional information regarding STAX, please visit: <u>https://www.schwab.com/investment-research/stax/view-schwab-trading-activity-index</u>.

<sup>(5)</sup> Represents average total interest-earning assets on the Company's balance sheet. Beginning in December 2025, average balances of client margin loans and short credits related to certain client long/short strategies from which the Company earns a fixed net yield are excluded from average interest-earning assets. Prior period amounts have been adjusted accordingly.

<sup>(6)</sup> Transactional sweep cash includes bank sweep deposits, broker-dealer cash balances, other client cash held on the balance sheet (such as bank checking and savings deposits, short credits related to certain client long/short strategies, and broker-dealer non-interest-bearing credits), and bank deposit account balances; excludes proprietary and third-party CDs.

<sup>(7)</sup> Schwab One<sup>®</sup>, certain cash equivalents, bank deposits, third-party bank deposit accounts, and money market fund balances as a percentage of total client assets; client cash excludes brokered CDs issued by Charles Schwab Bank.

<sup>(8)</sup> Represents the principal value of client mutual fund and ETF transactions handled by Schwab, including transactions in proprietary funds. Includes institutional funds available only to investment managers. Excludes money market fund transactions.

------

THE CHARLES SCHWAB CORPORATION

**Non-GAAP Financial Measures**

(In millions, except ratios and per share amounts)

(Unaudited)

In addition to disclosing financial results in accordance with generally accepted accounting principles in the U.S. (GAAP), Schwab's first quarter earnings release contains references to the non-GAAP financial measures described below. We believe these non-GAAP financial measures provide useful supplemental information about the financial performance of the Company, and facilitate meaningful comparison of Schwab's results in the current period to both historic and future results. These non-GAAP measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and may not be comparable to non-GAAP financial measures presented by other companies.

Schwab's use of non-GAAP measures is reflective of certain adjustments made to GAAP financial measures as described below.

---

| | | |
|:---|:---|:---|
| **Non-GAAP Adjustment or Measure** | **Definition** | **Usefulness to Investors and Uses by Management** |
| Acquisition and integration-related costs, amortization of acquired intangible assets, and restructuring costs | Schwab adjusts certain GAAP financial measures to exclude the impact of acquisition and integration-related costs incurred as a result of the Company's acquisitions, amortization of acquired intangible assets, restructuring costs, and, where applicable, the income tax effect of these expenses. <br>Adjustments made to exclude amortization of acquired intangible assets are reflective of all acquired intangible assets, which were recorded as part of purchase accounting. These acquired intangible assets contribute to the Company's revenue generation. Amortization of acquired intangible assets will continue in future periods over their remaining useful lives. | We exclude acquisition and integration-related costs, amortization of acquired intangible assets, and restructuring costs for the purpose of calculating certain non-GAAP measures because we believe doing so provides additional transparency of Schwab's ongoing operations, and is useful in both evaluating the operating performance of the business and facilitating comparison of results with prior and future periods. <br>Costs related to acquisition and integration or restructuring fluctuate based on the timing of acquisitions, integration and restructuring activities, thereby limiting comparability of results among periods, and are not representative of the costs of running the Company's ongoing business. Amortization of acquired intangible assets is excluded because management does not believe it is indicative of the Company's underlying operating performance. |
| Return on tangible common equity | Return on tangible common equity represents annualized adjusted net income available to common stockholders as a percentage of average tangible common equity. Tangible common equity represents common equity less goodwill, acquired intangible assets — net, and related deferred tax liabilities. | Acquisitions typically result in the recognition of significant amounts of goodwill and acquired intangible assets. We believe return on tangible common equity may be useful to investors as a supplemental measure to facilitate assessing capital efficiency and returns relative to the composition of Schwab's balance sheet. |
| Adjusted Tier 1 Leverage Ratio | Adjusted Tier 1 Leverage Ratio represents the Tier 1 Leverage Ratio as prescribed by bank regulatory guidance for the consolidated company and for Charles Schwab Bank, SSB (CSB), adjusted to reflect the inclusion of accumulated other comprehensive income (AOCI) in the ratio. | Inclusion of the impacts of AOCI in the Company's Tier 1 Leverage Ratio provides additional information regarding the Company's current capital position. We believe Adjusted Tier 1 Leverage Ratio may be useful to investors as a supplemental measure of the Company's capital levels. |

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The Company also uses adjusted diluted EPS and return on tangible common equity as components of performance criteria for employee bonus and certain executive management incentive compensation arrangements. The Compensation Committee of CSC's Board of Directors maintains discretion in evaluating performance against these criteria. Additionally, the Company uses adjusted Tier 1 Leverage Ratio in managing capital, including its use of the measure as its long-term operating objective.

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THE CHARLES SCHWAB CORPORATION

**Non-GAAP Financial Measures**

(In millions, except ratios and per share amounts)

(Unaudited)

The tables below present reconciliations of GAAP measures to non-GAAP measures:

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| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| | 2026 | 2026 | 2025 | 2025 |
| | Total <br>Expenses <br>Excluding <br>Interest | Net <br>Income | Total <br>Expenses <br>Excluding <br>Interest | Net <br>Income |
| **Total expenses excluding interest (GAAP), Net income (GAAP)** | $3294 | $2479 | $3144 | $1909 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired intangible assets | (132) | 132 | (130) | 130 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition and integration-related costs <sup>(1)</sup> | (11) | 11 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax effects <sup>(2)</sup> | N/A | (34) | N/A | (31) |
| **Adjusted total expenses (non-GAAP), Adjusted net income (non-GAAP)** | $3151 | $2588 | $3014 | $2008 |

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<sup>(1)</sup> Acquisition and integration-related costs for the three months ended March 31, 2026 primarily consist of professional services. There were no acquisition and integration-related costs for the three months ended March 31, 2025.

<sup>(2)</sup> The income tax effects of the non-GAAP adjustments are determined using an effective tax rate reflecting the exclusion of non-deductible acquisition costs and are used to present the acquisition and integration-related costs, amortization of acquired intangible assets, and restructuring costs on an after-tax basis.

N/A Not applicable.

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| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| | 2026 | 2026 | 2025 | 2025 |
| | Amount | % of <br>Total Net Revenues | Amount | % of <br>Total Net Revenues |
| **Income before taxes on income (GAAP), Pre-tax profit margin (GAAP)** | $3188 | 49.2% | $2455 | 43.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired intangible assets | 132 | 2.0% | 130 | 2.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition and integration-related costs | 11 | 0.2% |  |  |
| **Adjusted income before taxes on income (non-GAAP), Adjusted pre-tax profit <br> margin (non-GAAP)** | $3331 | 51.4% | $2585 | 46.2% |

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| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| | 2026 | 2026 | 2025 | 2025 |
| | Amount | Diluted <br>EPS | Amount | Diluted <br>EPS |
| **Net income available to common stockholders (GAAP), Earnings per common share — <br> diluted (GAAP)** | $2397 | $1.37 | $1796 | $.99 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquired intangible assets | 132 | .07 | 130 | .07 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition and integration-related costs | 11 | .01 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax effects | (34) | (.02) | (31) | (.02) |
| **Adjusted net income available to common stockholders (non-GAAP), Adjusted diluted <br> EPS (non-GAAP)** | $2506 | $1.43 | $1895 | $1.04 |

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THE CHARLES SCHWAB CORPORATION

**Non-GAAP Financial Measures**

(In millions, except ratios and per share amounts)

(Unaudited)

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| | | |
|:---|:---|:---|
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| | 2026 | 2025 |
| **Return on average common stockholders' equity (GAAP)** | 23% | 18% |
| &nbsp;&nbsp;Average common stockholders' equity | $42567 | $39752 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Average goodwill | (12125) | (11951) |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Average acquired intangible assets — net | (7323) | (7679) |
| &nbsp;&nbsp;&nbsp;&nbsp;Plus: Average deferred tax liabilities related to goodwill and acquired intangible assets — net | 1693 | 1709 |
| &nbsp;&nbsp;&nbsp;Average tangible common equity | $24812 | $21831 |
| &nbsp;&nbsp;Adjusted net income available to common stockholders <sup>(1)</sup> | $2506 | $1895 |
| **Return on tangible common equity (non-GAAP)** | 40% | 35% |

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<sup>(1)</sup> See table above for the reconciliation of net income available to common stockholders to adjusted net income available to common stockholders (non-GAAP).

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| | | |
|:---|:---|:---|
| | (Preliminary) | (Preliminary) |
| | March 31, 2026 | March 31, 2026 |
| | CSC | CSB |
| **Tier 1 Leverage Ratio (GAAP)** | 8.9% | 10.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 Capital | $41894 | $27474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plus: AOCI adjustment | (10631) | (9240) |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted Tier 1 Capital | 31263 | 18234 |
| &nbsp;&nbsp;&nbsp;&nbsp;Average assets with regulatory adjustments | 471426 | 252021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plus: AOCI adjustment | (10703) | (9341) |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted average assets with regulatory adjustments | $460723 | $242680 |
| **Adjusted Tier 1 Leverage Ratio (non-GAAP)** | 6.8% | 7.5% |

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