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 (1) net income and earnings per share equaled $2.6 billion and $1.43, respectively.

•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 (2)

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

•Launched the Schwab Teen InvestorTM 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 (3)

•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

•Asset management and administration fees grew by 15% year-over-year to $1.8 billion, powered by the firm’s organic growth and investors’ utilization of our wealth and asset management solutions

•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 (1) were up 5% relative to 1Q25

•Capital ratios across the firm remained strong – including preliminary consolidated Tier 1 Leverage and adjusted Tier 1 Leverage (1) 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

(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) The StockBrokers.com 2026 Annual Awards (https://www.stockbrokers.com/annual-awards-2026) 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.

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 https://www.aboutschwab.com/schwabevents.

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 (https://www.aboutschwab.com/financial-reports) and on the Securities and Exchange Commission’s website (https://www.sec.gov). The company makes no commitment to update any forward-looking statements.

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, https://www.sipc.org), 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 ServicesTM. 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 https://www.aboutschwab.com.

Mayura Hooper, 415-667-1525

public.relations@schwab.com

INVESTORS/ANALYSTS

Jeff Edwards, 817-854-6177

investor.relations@schwab.com

THE CHARLES SCHWAB CORPORATION

(In millions, except per share amounts)

(Unaudited)

        

THE CHARLES SCHWAB CORPORATION
Financial and Operating Highlights
(Unaudited)
			Q1-26 % change															2026						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
Net interest revenue			16		%				(1)		%							$	3,144					$	3,172					$	3,050					$	2,822					$	2,706
Asset management and administration fees			15		%				2		%							1,759						1,733						1,673						1,570						1,530
Trading revenue			20		%				2		%							1,089						1,066						995						952						908
Bank deposit account fees			20		%				24		%							295						238						247						247						245
Other			(7)		%				54		%							195						127						170						260						210
Total net revenues			16		%				2		%							6,482						6,336						6,135						5,851						5,599
Expenses Excluding Interest
Compensation and benefits			8		%				11		%							1,812						1,630						1,653						1,536						1,672
Professional services			13		%				(12)		%							303						344						293						291						269
Occupancy and equipment			4		%				(3)		%							285						293						280						270						274
Advertising and market development			5		%				(12)		%							101						115						101						108						96
Communications			7		%				15		%							163						142						149						176						153
Depreciation and amortization			(7)		%				(2)		%							201						206						212						215						217
Amortization of acquired intangible assets			2		%				4		%							132						127						127						128						130
Regulatory fees and assessments			(16)		%				21		%							75						62						59						77						89
Other			(9)		%				(6)		%							222						237						240						247						244
Total expenses excluding interest			5		%				4		%							3,294						3,156						3,114						3,048						3,144
Income before taxes on income			30		%				—									3,188						3,180						3,021						2,803						2,455
Taxes on income			30		%				(2)		%							709						721						663						677						546
Net Income			30		%				1		%							2,479						2,459						2,358						2,126						1,909
Preferred stock dividends and other			(27)		%				(11)		%							82						92						81						149						113
Net Income Available to Common Stockholders			33		%				1		%							$	2,397					$	2,367					$	2,277					$	1,977					$	1,796
Earnings per common share:
Basic			38		%				2		%							$	1.37					$	1.34					$	1.26					$	1.09					$	.99
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:
Basic			(4)		%				(1)		%							1,746						1,772						1,806						1,817						1,817
Diluted			(4)		%				(1)		%							1,752						1,777						1,811						1,822						1,822
Performance Measures
Pre-tax profit margin																		49.2		%				50.2		%				49.2		%				47.9		%				43.8		%
Return on average common stockholders’ equity (annualized) (1)																		23		%				22		%				21		%				19		%				18		%
Financial Condition (at quarter end, in billions)
Cash and cash equivalents			29		%				(2)		%							$	45.0					$	46.0					$	30.6					$	32.2					$	35.0
Cash and investments segregated			4		%				(7)		%							39.8						42.9						47.8						45.6						38.4
Receivables from brokers, dealers, and clearing organizations			N/M						64		%							11.8						7.2						4.7						4.3						2.9
Receivables from brokerage clients — net			26		%				1		%							106.2						104.7						93.8						82.8						84.4
Available for sale securities			(18)		%				(2)		%							61.1						62.4						62.3						67.6						74.8
Held to maturity securities			(8)		%				(2)		%							131.7						134.0						136.7						139.7						143.8
Bank loans — net			29		%				5		%							60.9						58.0						53.6						50.4						47.1
Total assets			7		%				—									493.3						491.0						465.3						458.9						462.9
Bank deposits			3		%				(1)		%							253.0						255.7						239.1						233.1						246.2
Payables to brokers, dealers, and clearing organizations			79		%				9		%							28.1						25.7						22.4						18.6						15.7
Payables to brokerage clients			17		%				1		%							118.0						116.3						115.4						109.4						100.6
Accrued expenses and other liabilities			9		%				(6)		%							12.0						12.8						11.4						10.8						11.0
Other short-term borrowings			81		%				81		%							12.5						6.9						6.5						8.5						6.9
Federal Home Loan Bank borrowings			(100)		%				(100)		%							—						1.9						0.9						9.0						11.5
Long-term debt			(5)		%				(8)		%							20.5						22.2						20.2						20.2						21.5
Total liabilities			7		%				1		%							444.1						441.6						415.9						409.5						413.4
Stockholders’ equity			(1)		%				—									49.2						49.4						49.4						49.5						49.5
Total liabilities and stockholders’ equity			7		%				—									493.3						491.0						465.3						458.9						462.9
Other
Full-time equivalent employees (at quarter end, in thousands)			4		%				2		%							33.5						33.0						32.7						32.6						32.1
Capital expenditures — purchases of equipment, office facilities, and property,   net (in millions)			11		%				9		%							$	173					$	158					$	152					$	136					$	156
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		%							9,899						8,274						7,421						7,571						7,391
Number of Trading Days			2		%				(3)		%							61.0						63.0						63.5						62.0						60.0
Revenue Per Trade (2)			(12)		%				(12)		%							$	1.80					$	2.05					$	2.11					$	2.03					$	2.05

(1) Return on average common stockholders’ equity is calculated using net income available to common stockholders divided by average common stockholders’ equity.

(2) 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.

(Unaudited)

			Three Months Ended March 31,
			2026																					2025
			Average Balance						Interest Revenue/ Expense						Average Yield/ Rate									Average Balance						Interest Revenue/ Expense						Average Yield/ Rate
Interest-earning assets
Cash and cash equivalents			$	32,477					$	288					3.56		%							$	30,483					$	328					4.31		%
Cash and investments segregated			43,946						397						3.61		%							38,611						412						4.27		%
Receivables from brokerage clients (1)			104,520						1,499						5.74		%							82,902						1,379						6.65		%
Available for sale securities (2)			65,255						326						2.00		%							84,590						433						2.05		%
Held to maturity securities (2)			132,192						567						1.72		%							144,401						622						1.72		%
Bank loans			59,285						627						4.27		%							46,043						493						4.32		%
Total interest-earning assets			437,675						3,704						3.39		%							427,030						3,667						3.44		%
Securities lending revenue									91																					60
Other interest revenue (1)									167																					30
Total interest-earning assets			$	437,675					$	3,962					3.63		%							$	427,030					$	3,757					3.52		%
Funding sources
Bank deposits			$	242,679					$	118					0.20		%							$	245,719					$	436					0.72		%
Payables to brokers, dealers, and clearing organizations			25,508						217						3.40		%							14,177						137						3.88		%
Payables to brokerage clients (1)			105,095						56						0.22		%							90,173						49						0.22		%
Other short-term borrowings			9,103						92						4.07		%							6,695						82						4.96		%
Federal Home Loan Bank borrowings			1,277						12						3.85		%							10,725						133						4.94		%
Long-term debt			21,702						201						3.71		%							22,281						212						3.81		%
Total interest-bearing liabilities			405,364						696						0.69		%							389,770						1,049						1.08		%
Non-interest-bearing funding sources			32,311																					37,260
Other interest expense (1)									122																					2
Total funding sources			$	437,675					$	818					0.75		%							$	427,030					$	1,051					0.99		%
Net interest revenue									$	3,144					2.88		%													$	2,706					2.53		%

(1) 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.

(2) Amounts have been calculated based on amortized cost.

(Unaudited)

(1) 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.

(2) Managed investing solutions includes managed portfolios, specialized strategies, and customized investment advice such as Schwab Wealth AdvisoryTM, Schwab Managed PortfoliosTM, Managed Account Select®, Schwab Advisor Network®, Windhaven Strategies®, ThomasPartners® Strategies, Wasmer Schroeder StrategiesTM, Schwab Index Advantage advised retirement plan balances, Schwab Intelligent Portfolios®, Institutional Intelligent Portfolios®, Schwab Intelligent Portfolios Premium®, Schwab Wealth Portfolios™, AdvisorDirect®, 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.

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

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

(Unaudited)

(1) 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.

(2) Excludes all proprietary mutual funds and ETFs.

(3) 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.

(4) 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.

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

(2) 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.

(3) 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.

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

(5) 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.

(6) 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.

(7) Schwab One®, 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.

(8) 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.

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.

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.

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

(1) 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.

(2) 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.

			Three Months Ended March 31,
			2026			2025
Return on average common stockholders’ equity (GAAP)			23		%	18		%
Average common stockholders’ equity			$	42,567		$	39,752
Less: Average goodwill			(12,125)			(11,951)
Less: Average acquired intangible assets — net			(7,323)			(7,679)
Plus: Average deferred tax liabilities related to goodwill and acquired intangible assets — net			1,693			1,709
Average tangible common equity			$	24,812		$	21,831
Adjusted net income available to common stockholders (1)			$	2,506		$	1,895
Return on tangible common equity (non-GAAP)			40		%	35		%

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