Charles Schwab Corporation (the) · NYSE:SCHW
Charles Schwab Corporation (the) — The Charles Schwab — Investor Day (2026)
187 slides from Charles Schwab Corporation (the)'s investor day presentation, 2026
Slide 1: 2026 Institutional Investor Day
2026 Institutional Investor Day Leading today. Defining tomorrow.
Slide 2: Presenters
Presenters Rick Wurster Jon Beatty Jonathan Craig James Kostulias President & Chief Managing Director, Managing Director, Managing Director, Executive Officer Head of Advisor Head of Retail Head of Trading Services Investing Services Adele Taylor Stacy Hammond Neesha Hathi Andrew D’Anna Managing Dir
Slide 3: Agenda
Agenda 1 Rick Wurster, President & Chief Executive Officer 2 Jon Beatty, Advisor Services 15 Minute Break at 9:55 a.m. 3 Jonathan Craig, Retail Combined Q&A following Trading Services 4 James Kostulias, Trading Services 5 Adele Taylor, Workplace Services 6 Stacy Hammond, Marketing 45 Minute Break at
Slide 4: Question & Answer Reminders
Question & Answer Reminders ▪ In-person attendees are encouraged to ask questions via mic runners during the live Q&A sessions, but also have access to the console In-person Attendees ▪ Similar to Business Update webcasts, please adhere to the one question format – we will circle back to capture add
Slide 5: Forward Looking Statements
Forward Looking Statements This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include statements that refer to expectations, projections or other ch
Slide 6: Rick Wurster
Rick Wurster President & Chief Executive Officer 6
Slide 7: Leading today. Defining tomorrow.
Leading today. Defining tomorrow.
Slide 8: Our Through Clients' Eyes strategy is delivering growth across all fronts
1 Our “Through Clients’ Eyes” strategy is Leading today. delivering growth across all fronts Defining tomorrow. 2 Schwab is a trusted leader today with a best-in-class value proposition 3 We have a clear strategy & are innovating to meet evolving client needs 4 We are well-positioned to drive earnin
Slide 9: Leading today.
Leading today.
Slide 10: Purpose, vision, strategy and key metrics
DRAFT PURPOSE 50+ $12.6T 47M+ To champion every client’s years in business client assets client accounts goals with passion & integrity 1 VISION To be the most trusted leader 16K 5.9M in investment services independent RIAs1 workplace plan Schwab participant accounts STRATEGY “Through Clients’ Eyes”
Slide 11: Highlights since 2024 Investor Day
Leading today. Highlights Since 2024 Investor Day With strong Service & Products & Acquisitions & execution across Experience Solutions Partnerships our key strategic Alternative Investments M&A focus areas, Branch Footprint Select Financial Consultant & we have continued Wealth Advisor Schwab Wealt
Slide 12: Strategy has powered growth across all fronts
Leading today. 1Q26 vs. 1Q25 Client $140B +2% 1.3M +10% Core NNA New Brokerage ex-Mutual Fund Clearing $158B Accounts Serve a Growing …andofour Number Clients “Through Clients’ +46% Eyes” strategy has Solutions $61B +29% Managed Investing Bank Lending1 powered growth Net Flows (EOP) across all front
Slide 13: Our no trade-offs value proposition
Leading today. Most Trusted Brand $12.6T Client Assets1 Best-in-class Serve a Growing Our Number of Clients Value Education Low Fees Scale “no trade-offs” & Resources value proposition sets the standard Omnichannel in the industry. Experience Dedicated Digital AI 24 / 7 Relationships Service Leverag
Slide 14: No Trade-offs: Most Trusted Brand
Leading today. No Trade-offs | Most Trusted Brand Serve a Growing Our Number of Clients “no trade-offs” value proposition sets the standard in the industry. Leverage Enhanced Financial Management Capabilities Note: The IBD Most Trusted Financial Companies award was given to Charles Schwab on Septemb
Slide 15: No Trade-offs: Best-in-class Value
Leading today. No Trade-offs | Best-in-class Value Schwab’s industry-leading …enables a best-in-class cost-to-serve… value proposition to clients. Serve a Growing Expense on Client Assets Revenue on Client Assets Our Number of Clients (bps)1 (bps)1 “no trade-offs” value proposition Schwab ~12 GAAP ~
Slide 16: No Trade-offs: Omnichannel Experience / Dedicated Digital AI
Leading today. No Trade-offs | Omnichannel Experience 24 / 7 Dedicated Digital AI Serve a Growing Our Number of Clients Service Relationships “no trade-offs” value proposition sets the standard in the industry. Leverage Enhanced Financial Management Schwab Awarded Best Schwab Named Best Investing Ca
Slide 17: No Trade-offs: Product Breadth
Leading today. No Trade-offs | Product Breadth Expanding suite of solutions for investors Serve a Growing Our Number of Clients “no trade-offs” value proposition sets the standard in the industry. Leverage Enhanced Financial Management Capabilities 17 Charles Schwab Corporation
Slide 18: Product Breadth: clients actively manage cash allocations
Leading today. No Trade-offs | Product Breadth Clients actively manage their cash allocations to help them meet their financial goals. ~$700B Transactional Cash per Account ($K) and as % Total Client Assets3 Weekly Serve aNotional Growing Advisor Number of Clients 1 Trading Volume Services Total Ret
Slide 19: Investors & RIAs continue to choose Schwab
Leading today. Total Client Assets | Schwab vs. Select Peers ($T) 1 Serve a Growing Number of Clients 12.6 #1 Total Client Assets2 Investors & RIAs are continuing to ~1.7 TOA 7.3 7.1 choose Schwab. Ratio3 3.8 2.3 2.2 1.5 1.1 Leverage Enhanced 0.9 0.5 0.3 0.3 0.1 Financial Management Schwab MS JPM BA
Slide 20: We are well positioned for the opportunity still ahead
Leading today. U.S. Retail Investable Wealth 1 Market Share 2020-2025 CAGR 2 Opportunity Schwab 12% Serve a Growing Number of Clients ~$90T We are well Direct / Self-directed 8% positioned for the opportunity still RIAs 7% ahead. IBD / Regional 7% Broker-dealers Leverage Enhanced U.S. Retail 6% Inve
Slide 21: Defining tomorrow.
Defining tomorrow.
Slide 22: Four trends are reshaping investor expectations
Defining tomorrow. The next generations of investors Serve a Growing Our industry Number of Clientsis entering a new era The bull market for convenience & four trends are reshaping investor expectations. Emerging asset classes & products Leverage Enhanced Financial Management Capabilities The power
Slide 23: A clear strategy to keep delivering for clients, employees, & stockholders
NEW DRAFT Defining tomorrow. We have a clear strategy to keep delivering for clients, employees, & stockholders. Our Purpose To champion every clients’ goals with passion & integrity The leading RIA support The primary retail wealth ecosystem to help advisors Who we management provider for serve the
Slide 24: Schwab has multiple growth levers
Defining tomorrow. Growth Win new clients across Serve a Growing Number of Clients Retail, Advisor Services, & Schwab has Workplace multiple growth levers across our leading platform. Deepen relationships with Leverage Enhanced our existing $12.6T in client Financial Management Capabilities assets a
Slide 25: Accelerating our pace of growth
Defining tomorrow. Growth | Serve More Clients & Deepen Relationships Meet the segmented needs of the broad range of clients we serve – advisors of all sizes, & investors & traders of all ages, wealth tiers, & sophistication levels Blend the best of people & technology Serve a Growing Number of Clie
Slide 26: Meeting the broader needs of our clients
Defining tomorrow. Growth | Deepen Relationships Action Impact ▪ Broaden our lending capabilities to support the Serve a Growing Meeting the Number of Clients needs of advisors & retail broader needs of clients Deeper our clients is ▪ Meet more of our clients’ relationships critical to their advice
Slide 27: Emerging opportunities: spot crypto
Defining tomorrow. Growth | Emerging Opportunities Serve a Growing WeNumber continue of Clientsto Spot crypto further expand our offering to help clients across more of their financial lives. Leverage Enhanced Financial Management Capabilities Platform Monetization 27 Charles Schwab Corporation
Slide 28: Scale advantage unlocking incremental efficiency
Defining tomorrow. Scale & Efficiency -25% Schwab Cost $428 $332 $319 Serve a Growing 1 $236 per Account Number of Clients We will utilize our 2015 2025 2025 2025 scale advantage & GAAP GAAP Adjusted Adj. in 2015 Dollars2 unlock incremental efficiency over time. Leverage Enhanced Financial Managemen
Slide 29: Brilliant Basics: omnichannel client experience
Defining tomorrow. Brilliant Basics Omnichannel 69 Client Experience Schwab will Serve a Growing Retail Client Number of Clients continue to be Best-in-class Promoter Score Service there for investors, +9 pts Y/Y1 delivering best-in-class Ease & service within their 94 Convenience channel of choice.
Slide 30: Culture & people are competitive advantages
Defining tomorrow. People Serve a Growing Number of Clients Schwab’s unique culture & our people are competitive advantages. Leverage Enhanced Financial Management Capabilities Schwab Talent Recognition AI Fluency Culture & Development Note: AI = Artificial Intelligence. Fortune America's Most Innov
Slide 31: Delivering growth across all fronts
Defining tomorrow. Trusted leader Well-positioned Delivering Schwab is with best-in- for earnings growth across built for class value growth through all fronts what’s next proposition the cycle 31 Charles Schwab Corporation
Slide 32: Q&A
Q&A Leading today. Defining tomorrow.
Slide 33: Jon Beatty, Advisor Services
Advisor Services Jon Beatty Managing Director, Head of Advisor Services 33 Charles Schwab Corporation
Slide 34: Advisor Services key messages
Leading today. Defining tomorrow. 1 Advisor Services is leading today & operating with strong momentum 2 Our platform is more robust & competitive than ever 3 We are defining tomorrow– custody is just the beginning 34 Charles Schwab Corporation
Slide 35: Committed to helping advisors of all sizes grow
Schwab remains Our Purpose committed to helping advisors of all sizes Extend the fiduciary model to more grow, compete, & investors succeed. 35
Slide 36: Advisor Services in a position of strength
Leading today. Advisor Services is in a position of strength & remains a driving force for Schwab. $5.2T 16K 3.9M #1 in RIA Client Advisory Households Custodial Assets Firms Assets Note: T = Trillion. K = Thousand. M = Million. RIA = Registered Investment Advisor. As of March 31, 2026. Schwab Adviso
Slide 37: RIAs are the fastest growing advised category
Leading today. RIAs are the fastest growing advised category in U.S. wealth management, with significant room for continued growth. U.S. Advised Market Assets 3 With over $5T in EOY 2024 CAGR 10% assets, Schwab 12% leads the RIA 11% 1 EOY 2018 channel, which is Other B/Ds Independent B/Ds 10% expect
Slide 38: Sustained momentum in net new assets
Leading today. We are seeing sustained momentum,… 1Q26 Core NNA & Organic Growth Rate Core NNA Organic Growth Rate Core Net New $86B Assets1 6.5% 5.1% 5.3% $285B $201B New $163B 88K Households1 FY23 FY24 FY25 Note: FY = Full-year. Q = Quarter. B = Billion. K = Thousand. NNA = Net new assets. AS = Ad
Slide 39: Client satisfaction and brilliant experiences
Leading today. FY25 Service Digital Scale & Professionals Experience Efficiency …and client satisfaction as we ▪ 160K hours of ▪ 73% digital account ▪ Reducing workload deliver brilliant training open hours ▪ >8M client ▪ 79% Move Money ▪ Increasing experiences beyond touchpoints adoption accounts p
Slide 40: Leveraging AI to drive advisor success
Leading today. We are leveraging artificial intelligence to strengthen operational excellence & drive advisor success. 1 2 3 Delivering AI- Strengthening Enabling an Open Powered Advisor Internal Capabilities AI Ecosystem Intelligence Deliver faster, more Reduce operational Accelerate open consisten
Slide 41: We are the Obvious Choice. Custody is just the beginning.
Leading today. We are the Obvious Choice. Custody is just the beginning. 41 Charles Schwab Corporation
Slide 42: We are the Obvious Choice. Custody is just the beginning.
Defining tomorrow. We are the Obvious Choice. Custody is just the beginning. 42 Charles Schwab Corporation
Slide 43: Brilliant experiences lead to deeper engagement beyond custody
Defining tomorrow. We are delivering brilliant experiences which lead to Thought deeper engagement Leadership beyond custody. & Advocacy ▪ Wealth Services Wealth Services ▪ Advisor ProDirect ▪ Family Wealth Alliance Best-in-Class Expert ▪ UHNW solutions Digital Service ▪ DAFgiving360 Experiences Pro
Slide 44: Wealth services empower advisors while driving monetization
Defining tomorrow. Our wealth services empower advisors to grow, compete & succeed, while driving sustainable monetization. Banking Investments Trading ▪ Pledged Asset Line® ▪ Model Market Center TM ▪ High-Touch Trading & ▪ Structured Asset LineTM ▪ Alternative Investments Execution Services ▪ HNW M
Slide 45: $37 Trillion Opportunity
Defining tomorrow. We’ve delivered strong growth in recent years, with substantial opportunity to capture additional share. Total U.S. Retail Channel Assets1 RIA Wirehouse Broker-Dealer Independent B/D Bank Trust / Private Bank Other B/D Advisor Services $5.2T $37 Trillion Opportunity Note: RIA = Re
Slide 46: Advisor Services summary
Defining tomorrow. Advisor We are Services is Our platform is defining leading today more robust & tomorrow– & operating competitive custody is just with strong than ever the beginning momentum 46 Charles Schwab Corporation
Slide 47: Q&A
Q&A Leading today. Defining tomorrow.
Slide 48: Jonathan Craig, Retail
Retail Jonathan Craig Managing Director, Head of Retail Investing 48 Charles Schwab Corporation
Slide 49: Retail key messages
1 Our Retail business continues to earn Leading today. recognition as an industry leader Defining tomorrow. 2 Retail delivered strong growth in 2025, with momentum carrying into 2026 3 We are well-positioned with a clear, winning strategy & large, attractive growth opportunity 4 We will drive contin
Slide 50: Retail business growth and momentum
Leading today. The Retail business has demonstrated robust growth & strong momentum. FY25 vs. FY24 1Q26 Core Net New Assets $117B $169B +44% $53B New-to-Firm Retail 1,053K 1,205K +14% 313K Households Client Promoter 58 67 +9pts 69pts Score 2024 2025 Note: Q = Quarter. B = Billion. K = Thousands. Pts
Slide 51: Retail trades and managed investing flows
Leading today. The Retail business has demonstrated robust growth & strong momentum. FY25 vs. FY24 1Q26 Daily Average 4.5M 6.0M +32% 7.7M Trades Managed Investing $50B $68B 36% $22B Net Flows 2024 2025 Note: Q = Quarter. B = Billion. M = Million. FY = Full-year. 51 Charles Schwab Corporation
Slide 52: Further enhancements to our Retail offer
Leading today. Hired hundreds of new Financial Consultants Opened more than a dozen new branches We have made further Launched Retail Alternative Investments enhancements Expanded 24/5 trading & new trading to our Retail products offer,… Enhanced our private wealth services offer Launched Schwab Tee
Slide 53: Continued industry recognition
Leading today. Ranked #1 Overall Broker Best Investing Platform …which continues to 1 2 2 years in a row 4 years in a row earn us industry ▪ #1 Advanced Trading Best investing platform for: recognition. ▪ #1 Mobile Trading Apps ▪ Stock trading ▪ #1 High Net Worth Investors ▪ Options trading ▪ #1 Cus
Slide 54: Continuing to enhance our offer Through Clients' Eyes
Defining tomorrow. Invest in relationships & Launch new Looking forward, marketing products we will continue to enhance our offer “Through Enhance Clients’ Eyes”. segment- Invest in based digital & AI experiences Note: AI = Artificial intelligence. 54 Charles Schwab Corporation
Slide 55: Investing in relationships that drive results
Defining tomorrow. We will continue to invest in relationships, which have proven to drive results & be of value to clients,… FY25 Ongoing Investments +10pts Client Promoter Score Further grow branch footprint 2.4x NNA / HH Expand & upgrade existing branches 4.6x MI Net Flows / HH 1 Hire new FCs / W
Slide 56: Marketing driving growth with young investors
Defining tomorrow. …in addition to investing in our outstanding marketing, which is driving strong growth & winning with young investors. New-to-Firm Retail Household Growth1 CAGR +10% 1.2M ~39 years 1.1M 1.0M 2025 average age of new Retail client1 2023 2024 2025 Success underpinned by tight design
Slide 57: Deepening relationships with new products: Crypto and Private Markets
Defining tomorrow. We will deepen client relationships by meeting their evolving needs with new products. Schwab CryptoTM Private Markets Trade & hold Bitcoin / Ethereum Direct investments in private companies of all crypto ETPs are Industry-wide venture- ~20% held by Schwab clients $9T backed priva
Slide 58: Expanding experience across key segments
Defining tomorrow. We will expand & enhance the client experience across key segments. H/UHNW Trader Wealth Advisory ▪ Family benefits ▪ New exchange ▪ Holistic wealth ▪ Loyalty program products management & ▪ 24x7 crypto futures specialized needs ▪ Consolidated reporting ▪ Margin experience ▪ Local
Slide 59: Strengthening the digital client experience
Defining tomorrow. We will continue to strengthen the broader digital client experience across Retail,… Schwab.com thinkorswim® Enhancements Web / Mobile Upgrades ▪ Refresh mobile app design, ▪ Portfolio management brand expression, & navigation ▪ Risk & margin transparency ▪ Fractional ETF & stock
Slide 60: Leveraging AI to enhance client experience
Defining tomorrow. …and thoughtfully leverage AI to enhance client experience,… Schwab Assistant that helps clients invest, Portfolio Insights act, & stay informed Coming June through year end ▪ AI-generated, real-time summaries ▪ Additional research & insights of client portfolios ▪ Answer how-to q
Slide 61: Using AI to scale client-facing professionals
Defining tomorrow. …while using AI to scale client-facing professionals. Live 2Q26 Knowledge Unique Relationship Assistant ~6M interactions Assistant Research Sales reps as Assistant ~3K users Service Calls through AI Assistant ~70K engine per day AI embedded client authentication & fraud detection.
Slide 62: Industry-leading Retail business with best-in-class value proposition
Defining tomorrow. The result is an industry-leading Retail business with significant scale and best-in-class value proposition. An industry leader… ~$5.3T ~7.7M ~27M ~$131B ~$836B Total Daily Avg. Brokerage Bank Lending MI Assets 2 Assets Trades Accounts & Margin1 …with a value proposition combinin
Slide 63: Value proposition paired with specialized experiences
Defining tomorrow. This value proposition is paired with specialized experiences,… Education & Proprietary Self-direct investors 24/7 service research funds Specialist Schwab Traders thinkorswim® teams Network Schwab Schwab Teen No / low Younger investors Starter KitTM InvestorTM Account commissions
Slide 64: Winning with key segments
Defining tomorrow. …that allow us to win with key segments. in trading, executing ~1/3 of all Retail Self-direct investors #1 brokerage trades in Retail options trading volume & Traders #1 margin balance usage +60% 1 Younger investors of New-to-Firm Retail HHs <40 Record net flows into Managed Inves
Slide 65: Retail summary
Defining tomorrow. Our Retail We remain business The business well-positioned We will pursue achieved size & delivered strong with a winning growth by scale & growth in 2025 strategy & a advancing our continues to be & momentum tremendous key strategic recognized as continues into growth priorities
Slide 66: James Kostulias, Trading Services
Trading Services James Kostulias Managing Director, Head of Trading Services 66 Charles Schwab Corporation
Slide 67: Trading Services key messages
Leading today. 1 More investors are engaging with the markets than ever, evidenced by Defining tomorrow. record engagement 2 Schwab meets clients with a market-leading offer across products, platforms, education, & service 3 We will keep investing in building an even better trading experience, inves
Slide 68: Steady growth in client trading engagement
Leading today. Daily Average Trades +34% 9.9M We are seeing 7.4M steady growth in 7.9M client trading 5.9M engagement,… 1.5M 2.0M 2025 Q1 2026 Q1 Derivatives1 All other products Note: Forex = Foreign Exchange. M = Million. Q = Quarter. 1. Derivatives include options, futures, & forex. 68 Charles Sch
Slide 69: Signs the trading trend is sustainable
Leading today. …with clear signs that the trend is sustainable. Interest across Engagement Expanding demographics with education product use 42% of 28% growth in +38% increase in thinkorswim® users Trader Talks derivatives trades Y/Y are Millennial or Gen Z1 subscribers Y/Y Note: Y/Y = Year over yea
Slide 70: Praise for leadership in trading
Leading today. We continue to receive praise from clients & the industry for our leadership in trading. 1Q26 Trader Client Promoter Score +14 pts #1 Advanced Trading A Best Online Broker for Y/Y #1 Mobile Trading Apps 13 years by Investor’s #1 Active Trading Desktop Business Daily2 Platform #1 Stock
Slide 71: What makes Schwab Trading the clear leader
Leading today. What makes Schwab Trading the clear leader? Traders invest & An experience by investors trade. traders, for traders. Schwab is uniquely We keep growing our positioned to help 360˚ trading ecosystem clients across that through the passion we whole continuum. share with our clients. 71
Slide 72: Best-in-class trading ecosystem
Defining tomorrow. We deliver the holistic support that traders & cts Pla u tf d self-directed or Pro ms investors need Risk via our best-in- Management class trading Edu etw s &N ns & ecosystem, hip t io i ce ca resulting in more v r o or n e S ti k l a & deeper R e relationships. 72 Charles Schwab
Slide 73: Thoughtful product expansion
Defining tomorrow. We’re growing the experience “Through Clients’ Eyes”. Thoughtful product Spot crypto trading expansion Transitioning to 24/7 New options & futures products Margin experience enhancements An improved IPO experience Note: IPO = Initial public offering. 0DTE = Zero-days-to-expiration
Slide 74: Enhanced platforms & tools
Defining tomorrow. We’re growing the experience “Through Clients’ Eyes”. Enhanced platforms New features & functionality & tools Portfolio management tools An expanded API experience Improved user onboarding Even more transparent risk tools Note: API = Application program interface. 74 Charles Schwa
Slide 75: Investing in relationships
Defining tomorrow. We’re growing the experience “Through Clients’ Eyes”. Investing in More Trader-facing Branch teams relationships Local market client events One-on-one platform onboarding A regional Trader support model Risk management as a service 75 Charles Schwab Corporation
Slide 76: More ways to learn & grow
Defining tomorrow. We’re growing the experience “Through Clients’ Eyes”. More ways to An expanding content library learn & grow In-person & virtual coaching More programming for beginners A new Schwab Network lineup ® Social content & engagement 76 Charles Schwab Corporation
Slide 77: Trading summary
Defining tomorrow. There’s never been a better time to trade at Schwab. Schwab meets We will keep More those clients investing in an investors are with our even better engaging with market-leading trading the markets trading offer experience 77 Charles Schwab Corporation
Slide 78: Q&A
Q&A Leading today. Defining tomorrow.
Slide 79: Adele Taylor, Workplace Services
Workplace Services Adele Taylor Managing Director, Head of Workplace Services 79 Charles Schwab Corporation
Slide 80: Workplace Services key messages
Leading today. 1 We are driving asset growth today by embedding Schwab in the Defining tomorrow. employer–employee relationship 2 Our structural market opportunities & Schwab’s breadth of capabilities creates a significant runway for growth 3 We are making strategic investments to accelerate growth
Slide 81: Workplace Services' six businesses
Leading today. Workplace Services’ six businesses build direct relationships with Retail investors & support the RIA channel. Full-year 2025 Retirement Plan Services ~$1.3T Total Direct Stock Plan Services Assets engagement with Designated Brokerage Services participants ~$70B1 Personal Choice Inves
Slide 82: Workplace powers growth of Retail & Advisor Services
Leading today. Workplace powers growth of both Retail & Advisor Services, while benefiting from their respective capabilities. Strengthen Refer offer new plans Workplace Advisor Retail Services Services Introduces Enhance RIA new clients solutions ~400K1 ~27%1 ~50%2 New-to-Firm Households of Workpla
Slide 83: Strength of our offer recognized by clients and industry
Leading today. The strength of our offer is recognized by clients & the industry. Industry-leading Client Exceptional service Industry Promoter Scores at scale recognition 80 93% CPS Calls Answered Plan Sponsors Within SPS & RPS 1 30-60 Sec2 The most best-in-class awards for 9 years in a row 3,4 Not
Slide 84: Structural opportunities and Schwab's competitive advantage
Defining tomorrow. Structural market opportunities & Schwab’s competitive advantage create runway for growth. Why Opportunity Exists Why Schwab Wins Growing equity Integrated, service-centric compensation plans experiences Increasing retirement & Full spectrum of Retail investing financial wellness
Slide 85: Strategic investments translate momentum into firm value
Defining tomorrow. Strategic investments translate Workplace momentum into sustained firm value. Win more plans Increase Retail engagement Growth partnerships with Integrated Schwab digital experiences, with AI consultants enhancements Expanded retirement Increased Financial Consultant solutions eng
Slide 86: Workplace summary
Defining tomorrow. There’s never been a better time to trade at Schwab. We are driving asset Our structural We are making growth today by market opportunities strategic embedding Schwab & Schwab’s breadth investments in the employer– of capabilities across growth, employee creates a runway for clien
Slide 87: Q&A
Q&A Leading today. Defining tomorrow.
Slide 88: Stacy Hammond, Marketing
Marketing Stacy Hammond Managing Director, Chief Marketing Officer 88 Charles Schwab Corporation
Slide 89: Marketing key messages
1 Marketing is a core growth engine Leading today. for consistent client & asset growth Defining tomorrow. 2 Our data & insight-led model drives efficiency at scale 3 Effectiveness comes from integrated measurement, innovation, & creativity 4 We drive targeted growth while strengthening Schwab’s bra
Slide 90: Marketing is foundational to enterprise growth
Marketing is Fuels consistent, high-quality enterprise foundational to growth while attracting new clients. enterprise growth. +14% +25% 61% New-to-Firm New-to-Firm Gen Z & Retail HHs Retail NNA Millennial Investors 2024 - 2025 2024 - 2025 Percent of New Clients1 Note: HH = Households. NNA = Net new
Slide 91: Delivering best-in-class marketing that drives growth
Delivering best-in-class marketing that drives meaningful growth… 91 Charles Schwab Corporation
Slide 92: Result of a consistent, disciplined strategy
Delivering best-in-class marketing that drives meaningful growth… …is the result of a consistent, disciplined strategy. 92 Charles Schwab Corporation
Slide 93: Connecting with audiences through a range of channels
We connect with audiences & communicate our value through a range of channels. Paid Owned Earned Advertising, Media, Schwab.com, Mobile, Social media, Promotions, Sponsorships Email, Organic search Reviews, Industry accolades 93 Charles Schwab Corporation
Slide 94: Deep client insights and clear design targets
We leverage deep client insights & clear design targets to maximize impact. Retail Investor Advisor Services Workplace Services Driven Affluent, Traders, Clients, Prospects, Participants, Sponsors, Accumulators Advisors, Consultants Consultants 94 Charles Schwab Corporation
Slide 95: Approach focused on measurement, innovation & creativity
MARKETING Measurement Ensures efficient, high-quality growth. We utilize a proven approach that focuses on measurement, innovation & creativity. 95 Charles Schwab Corporation
Slide 96: Approach focused on measurement, innovation & creativity
MARKETING Measurement Ensures efficient, high-quality growth. We utilize a proven Innovation approach that focuses Reaches clients where on measurement, & how they engage. innovation & creativity. 96 Charles Schwab Corporation
Slide 97: Approach focused on measurement, innovation & creativity
MARKETING Measurement Ensures efficient, high-quality growth. We utilize a proven Innovation approach that focuses Reaches clients where on measurement, & how they engage. innovation & creativity. Creativity Differentiates the brand & drives action. 97 Charles Schwab Corporation
Slide 98: Marketing Mix Optimization Model
MEASUREMENT Our Marketing Mix Optimization Model takes macroeconomic planning to the next level. 50+ 15% ~40% Variables to Increasing Ad New Retail clients optimize spend1 Spend Efficiency2 driven by Marketing3 2021 - 2025 Note: Ad = Advertisement. MMO = Marketing Mix Optimization. 1. MMO uses 31 ma
Slide 99: Multi-touch Attribution Model
Our Multi-touch Attribution Model delivers data driven insights. MTA1 evaluates creative, channel, & audience performance to pinpoint the combinations that perform best. Note: MTA = Multi-touch attribution. 1. MTA model distributes credit across consumer touchpoints along the conversion path using a
Slide 100: Evolving media spend to optimize efficiency
MEASUREMENT We monitor & evolve our media ~2x spend to optimize efficiency & Increase in support major growth in digital Non-linear TV, Podcast, & Social Media1 & on-demand platforms. 2024 - 2026 Radio Social Podcasts Search Linear TV Digital Innovation Print Note: MMO = Marketing mix optimization.
Slide 101: Balance of innovation & scale across media
INNOVATION Engaging captive audience on ride share app Across media, we strive for a balance of innovation & scale. Investor education Bite-sized education on Twitch in new formats Ep 1 | Market Miles 101
Slide 102: Expanding our digital experience
Mobile App Store Prototype INNOVATION We continually expand our digital experience and are reimaging our most used touchpoints. 1/3 of our digitally active clients ONLY use the Mobile App1 Note: 1. ComScore “Schwab.com: Role of the App & Find a Branch for Conversion” Active clients: Digital Adoption
Slide 103: TeamSnap youth sports partnership
INNOVATION TeamSnap lets us show up credibly in youth sports moments that matter, driving awareness for Schwab Teen InvestorTM Account. Of parents say it’s very ~3/4 important for teens to learn about investing 1 Note: 1. Schwab Teen Investing Survey – An online survey of 1,000 teens age 13 – 17 & 1
Slide 104: Influencer-led content
INNOVATION Build brand awareness & education with influencer-led content on TikTok, Meta, Instagram, & Reddit. 236M+ TikTok Impressions1 2025 Note: 1. Schwab TikTok impressions created by influencer campaign in 2025 (March –December). 104 Charles Schwab Corporation
Slide 105: Holiday Amazon delivery box campaign
INNOVATION We unwrapped a bold new way to delight investors by bringing our brand to their doorsteps during the holiday season Hand painted design by with Amazon artist Gemma O'Brien. delivery boxes. 105 Charles Schwab Corporation
Slide 106: Podcast strategy
INNOVATION Our podcast strategy uses long-form content to engage high-intent listeners & build trust over time. 78% Average podcast completion rate 1 Note: 1. Average consumption rate of all episodes across Schwab Podcast in 2025. Source: Apple Podcast. 106 Charles Schwab Corporation
Slide 107: YouTube formats
INNOVATION We test new YouTube formats to keep the channel fresh & engaging for clients & prospects seeking to learn. #1 Largest Direct to Consumer Financial Services Channel1 Note: 1. Largest Direct to Consumer Financial Services channel by number of subscribers on YouTube. 107 Charles Schwab Corpo
Slide 108: Search Engine Optimization strategy
INNOVATION Our advanced Search Engine Optimization strategy keeps us on top of AI-driven search trends. Note: AI = Artificial intelligence. 1. Xponent21 Research Report published May 2025. 108 Charles Schwab Corporation
Slide 109: Breakthrough advertising
ICNRNEO AVTA I VTIITOYN Most recalled We create breakthrough #1 ads among leading advertising that captures competitors1 attention & inspires action. Note: Ad = Advertisement. 1. Ad recall from the Q4 2025 Industry Brand Health Performance report (competitors with >$1B in assets-under-management). 1
Slide 110: Golf creates meaningful moments
CREATIVITY Golf creates meaningful moments for Schwab to connect with investors around a shared passion ▪ Charles Schwab Challenge Car ▪ The Challengers: a documentary series ▪ Invested in the Game podcast ▪ Branded integrations in top streaming shows 110 Charles Schwab Corporation
Slide 111: Creating a modern global brand
CREATIVITY + INNOVATION We are creating a modern global brand. We’re modernizing Schwab’s brand & design systems to create a warmer, more cohesive experience that builds trust & enables faster execution. 111 Charles Schwab Corporation
Slide 112: A proven engine for long-term growth
MARKETING Our success comes from a disciplined, measurement-driven approach that connects clients to We are a proven the right experiences & products engine for long We drive stronger acquisition, term-growth. higher-quality relationships, & sustained advantage through continuous innovation & audien
Slide 113: Q&A
Q&A Leading today. Defining tomorrow.
Slide 114: Neesha Hathi, Wealth, Banking, & Trust
Wealth, Banking, & Trust Neesha Hathi Managing Director, Head of Wealth Advisory, Banking, & Trust Services 114 Charles Schwab Corporation
Slide 115: Wealth, Banking & Trust key messages
1 Leading today. Clients are increasingly looking to Schwab for wealth & banking Defining tomorrow. solutions 2 Growth is accelerating, supported by investments in people, technology, & AI 3 We have a meaningful opportunity to delight clients, deepen relationships, & drive diversified revenue growth
Slide 116: Wealth advisory, banking, & trust solutions
Leading today. Schwab offers a complementary set of high-quality wealth advisory, banking, & trust solutions. Wealth Advisory Managed Bank Residential Mortgage Investing Intelligent Advisor Lending Portfolios Network Pledged Asset Line® Specialty Tax, Trust & Estate Deposit Investor Checking Financi
Slide 117: Accelerating momentum across full-service wealth solutions
Leading today. We have seen accelerating momentum across our full-service wealth solutions,… Managed $827B Full-Service Wealth 1Q26 1 Investing 2025 AUM Schwab Wealth Schwab Advisor Net Flows ($B) Advisory Network® 3.7x AUM $268B +25% Y/Y $355B +25% Y/Y $68 $50 Net +90% +1% $18 $28 Flows $10B Y/Y $9
Slide 118: Flagship offer, Schwab Wealth Advisory
Leading today. …including our flagship offer, Schwab Wealth AdvisoryTM. Schwab Wealth Priority Investments SWA Households AdvisoryTM ▪ Digital enhancements Total HHs 1 102K Net Flows ($B) ▪ Discretionary portfolios +47% ▪ Local in 20+ markets CPS 1 88 pts ▪ Sales expansion $25 ROCA vs. $17 ▪ Profess
Slide 119: Momentum in lending & trust solutions
Leading today. Momentum across our lending & trust solutions is also building as we continue to meet clients’ evolving needs. Pledged Asset Line® Select Banking & Trust Highlights FY25 FY25 EOP Balances Originations Expanded PAL® eligibility while improving cycle times & CPS $26.6B $43.2B +56% Y/Y +
Slide 120: Key trends that reinforce our confidence
Defining tomorrow. Looking ahead, there are several key trends that reinforce our confidence. Growing Desire for Rising investor RIAs Accelerating demand for ease across expectations seeking to wealth tech holistic advice wealth, for differentiate innovation banking, & sophisticated, & scale investi
Slide 121: Opportunity to grow share in advice & lending
Defining tomorrow. Schwabhas Schwab hasa atremendous tremendousopportunity opportunitytotogrow growshare sharewith withnew new& & existing existing clients clients in advice in advice & lending. & lending. FY25 Grow Advice Market Share1 Increase Lending Penetration2 ~4.0% Schwab MI Share $37T 0.5% ~
Slide 122: Building on momentum & investing for growth
Defining tomorrow. Weare We arebuilding buildingon onour ourmomentum momentum&&investing investingfor forgrowth. growth. Select Initiatives Expand Our Offering Grow Awareness Scale & Supercharge Introduce & enhance Amplify offer visibility to Leverage AI to allow reps wealth & banking drive client e
Slide 123: Well-positioned to delight clients & drive diversified revenue
Defining tomorrow. We are exceptionally well-positioned to delight clients & drive diversified revenue growth for Schwab. Large & growing market for Trusted Exceptional holistic advice Brand Value Engaged & loyal client base seeking our expertise Proven ability to AI + Human One-Stop grow adoption o
Slide 124: Andrew D'Anna, Investment Platforms, Solutions, & Strategy
Investment Platforms, Solutions, & Strategy Andrew D’Anna Managing Director, Head of Product & Strategy 124 Charles Schwab Corporation
Slide 125: Products & Strategy key messages
1 Leading today. The breadth of our investment products fuels growth & deepens Defining tomorrow. client relationships 2 Clients are consolidating their investing activity at Schwab 3 We’re focused on disciplined investment in secular growth trends 4 Long-term value creation for Schwab & our clients
Slide 126: Investment products attract clients & deepen relationships
Leading today. Our investment products & solutions play a key role in attracting new clients & deepening relationships. Serve a Deepen Growing Number Existing Client of Clients Relationships Apply Disciplined Enhance Financial Management Scale & & Capital Return Efficiency 126 Charles Schwab Corpora
Slide 127: Comprehensive investing product platform
Leading today. Schwab operates one of the most comprehensive investing product platforms in the industry. Advisory Solutions Third-Party Products Managed Portfolios Alternative Separately Managed Wasmer Schroeder ThomasPartners® Investments Accounts Windhaven Schwab Managed ETFs Fixed Income Strateg
Slide 128: Momentum across Schwab's product platform
Will Not Attend Leading today. 1Q26 EOP Assets 3-yr CAGR Momentum is building across Third-Party Schwab’s Mutual Funds & ETFs $4.6T 17% product platform through expanded Separately Managed Accounts1 $596B 28% investment access. Alternative Investments $92B 40% Note: Q = Quarter. EOP = End of period.
Slide 129: Investors looking to Schwab for holistic product solutions
Leading today. Proprietary Solutions AUM 1Q26 vs. 1Q25 Increasingly, +79% +22% investors are Schwab Personalized Wasmer looking to Schwab Indexing® Schroeder for a holistic set of product solutions,… +21% Schwab Intelligent Portfolios®1 Note: AUM = Assets under management. Q = Quarter. 1. Schwab Int
Slide 130: Enhancing platforms to better meet clients' needs
Leading today. Select Highlights Broadened Retail alternative investments offer & added more funds …& we’re Scaled the AS Schwab Alternative Investment continuing to OneSource® shelf with addition of new funds enhance our Grew Institutional No Transaction Fee platforms to mutual funds breadth to 2,0
Slide 131: Strategic priorities and key initiatives
Defining tomorrow. The industry is moving fast & we’re focused on where it’s headed. Strategic Priorities Key Initiatives Alternative Investments Launch new investment products & solutions to Private Markets meet evolving investor needs Digital Assets Continue to enhance platform monetization strate
Slide 132: Increasing demand for alternative ways to invest
Defining tomorrow. $3.7T ~35% Est. 2029 US Private % RIA with Alts Market Assets1 Positions at Schwab There is ~50% ~4x increasing demand HNW Clients Expect RIA Industry Alts for alternative Allocation to Alts by ‘282 Allocation vs. Schwab3 ways to invest. + OUR Capture Expand Invest in OPPORTUNITY
Slide 133: Forge's capabilities and private market investing at Schwab
Defining tomorrow. Retail1, 2 Assets held ▪ Private $5.3T by clients Marketplace Forge’s capabilities ▪ Asset Advisor Services1 will enable a Management Assets held best-in-class ▪ Custody Services $5.2T by clients ▪ Data + Technology private market ▪ Private Company investing Workplace 3 Solutions
Slide 134: Building our private market offer in phases
Defining tomorrow. In Progress Next Later Access through Access through Integrated diversified single private We are building our exposure companies experience private market offer in phases. Unified, via private via integrated marketplace private company experience 1 accessible from interval fund a
Slide 135: Digital assets potential to transform financial services
Defining tomorrow. Current Focus Digital assets have the potential to transform financial Schwab Payment Banking & services. Crypto Stablecoins Investment Products 135 Charles Schwab Corporation
Slide 136: Schwab Crypto
Defining tomorrow. Crypto Schwab Crypto offers access to direct spot crypto trading with: Schwab is bringing ✓ Arecord trusted brand with a proven track its winning value proposition to the digital assets space. ✓ Competitive, transparent pricing enabled by scale ✓ The seamless all-in-one platform,
Slide 137: Monetizing the platform where investor demand concentrates (ETFs)
Defining tomorrow. ETFs $2.6T New servicing fees will provide meaningful We are monetizing Q1 2026 portion of ETF economics the platform where EOP Assets1 investor demand is concentrating. 19% Q1 2026 Discussions Market share2 already underway Note: T = Trillion. Q = Quarter. EOP = End of period. ET
Slide 138: Monetization opportunities grow with platform investment
Defining tomorrow. Future Opportunities Schwab will invest in & grow the platforms where we drive more meaningful value. Schwab’s monetization opportunities grow Scale flagship Expand value-added as we invest in our sponsored RIA offerings & sponsored product alternatives platforms modernize platfor
Slide 139: Expanding platform breadth to deepen relationships
Defining tomorrow. Expanding Extending platform breadth Monetizing scale Schwab’s trust in with discipline to to deepen alternatives, relationships & drive durable, private markets, & long-term value consolidate client digital assets activity creation 139 Charles Schwab Corporation
Slide 140: Q&A
Q&A Leading today. Defining tomorrow.
Slide 141: Dennis Howard, Technology, Operations, & Data
Technology, Operations, & Data Dennis Howard Managing Director, Chief Technology, Operations & Data Officer 141 Charles Schwab Corporation
Slide 142: TOD key messages
1 The TOD organization is a key enabler of Leading today. Schwab’s growth & momentum Defining tomorrow. 2 By prioritizing efficiency, we have supported growth & robust client engagement through reinvestment of savings into firm priorities 3 Our investment roadmap will blend efficiency, growth, & inn
Slide 143: Unified technology, data & operations
Leading today. We have unified technology, data, & Enabling scalable, operations to create a single, aligned long-term growth: support organization for Schwab. ▪ Integrated solutions Technology ▪ Differentiated client interactions Operations ▪ Aligned functions to increase efficiency & speed-to-mark
Slide 144: Serve a Growing Number of Clients
Serve a Deepen Growing Number Existing Client of Clients Relationships Earnings Growth Through the Cycle Apply Disciplined Enhance Financial Scale & Management & Efficiency Capital Return 144 Charles Schwab Corporation
Slide 145: Priorities: supporting clients, enabling innovation, enhancing efficiency
Leading Definingtoday. tomorrow. Our priorities focus on supporting clients, enabling innovation, Support Client Enable Growth Drive Scale, & enhancing scale Growth & & Innovation Employee & efficiency. Momentum through Productivity & Efficiency Evolve Client Savings Experiences 145 Charles Schwab C
Slide 146: Priorities: supporting clients, enabling innovation, enhancing efficiency
Leading Definingtoday. tomorrow. Current Focus Our priorities focus on supporting clients, enabling innovation, Support Client Enable Growth Drive Scale, & enhancing scale Growth & & Innovation Employee & efficiency. Momentum through Productivity & Efficiency Evolve Client Savings Experiences 146 Ch
Slide 147: Resilient performance when clients needed us most
Leading today. We have proven our ability to deliver resilient, reliable performance when clients needed us most. Recent Volatility FY25 vs. FY24 Daily Average Trades1 15M +18% ‘Liberation Day’ +74%2 13M Digital Logins 11M +31% 9M Avg. Daily Average 7M Trades Jan Mar May Jul Sep Nov Jan Mar 2025 202
Slide 148: Priorities: supporting clients, enabling innovation, enhancing efficiency
Leading Definingtoday. tomorrow. Current Focus Our priorities focus on supporting clients, enabling innovation, Support Client Enable Growth Drive Scale, & enhancing scale Growth & & Innovation Employee & efficiency. Momentum through Productivity & Efficiency Evolve Client Savings Experiences 148 Ch
Slide 149: Efficiency unlocking scale while supporting client growth
Leading today. Our sustained focus on efficiency has allowed us to unlock incremental scale while supporting strong client growth. Asset & Account Growth GAAP Cost per Account1 $11.9T $363 $10.1T $337 $337 $334 $332 $8.1T $8.5T $7.0T 36M 39M 33M 34M 35M 2021 2022 2023 2024 2025 2021 2022 2023 2024 2
Slide 150: Priorities: supporting clients, enabling innovation, enhancing efficiency
Leading Definingtoday. tomorrow. Current Focus Our priorities focus on supporting clients, enabling innovation, Support Client Enable Growth Drive Scale, & enhancing scale Growth & & Innovation Employee & efficiency. Momentum through Productivity & Efficiency Evolve Client Savings Experiences 150 Ch
Slide 151: AI capabilities enhancing productivity and client experiences
Leading today. AI capabilities are enhancing employee productivity, streamlining workflows, & improving client experiences. Microsoft Copilot AI Utilization 4x GitHub Copilot VoiceID Knowledge Assistant Across Schwab 1 Research Assistant 2026 vs. 2025 Service Assistant Schwab Assistant Note: AI = Ar
Slide 152: TOD is a key enabler of growth & momentum
Defining tomorrow. Our investment By prioritizing roadmap is designed efficiency & expense to drive scale, TOD is a key enabler discipline, we increase productivity, of our growth & reinvest savings to support future momentum drive growth & growth, & deliver a deepen client best-in-class client enga
Slide 153: Q&A
Q&A Leading today. Defining tomorrow.
Slide 154: Mike Verdeschi, Chief Financial Officer
Mike Verdeschi Managing Director, Chief Financial Officer 154 Charles Schwab Corporation
Slide 155: CFO key messages
Leading today. 1 By doing more for clients, we are driving diversified revenue growth Defining tomorrow. 2 Our balanced approach to expenses supports growth & enhances scale 3 We have taken actions to position the firm to navigate a range of environments 4 Our financial formula enables earnings grow
Slide 156: Strategy keeps us positioned for earnings growth through the cycle
Leading today. Serve a Deepen Growing Existing Number Client of Clients Relationships Our “Through Serve a Growing Clients’ Number ofEyes” Clients strategy keeps us Earnings well-positioned to Growth Through deliver earnings the Cycle growth through the cycle. Apply Leverage Enhanced Disciplined Fin
Slide 157: Long history of strong client & earnings growth
Leading today. 2015 – 2025 CAGR +17% +15% Schwab has a long Total Client Brokerage history of strong Assets Accounts client & earnings growth. +14% +16% Net GAAP Earnings Revenues per Share Note: CAGR = Compound annual growth rate. GAAP = Generally accepted accounting principles. 157 Charles Schwab
Slide 158: Expanding the range of solutions
Leading today. Banking & Cash Management WeServe continue a Growingto Wealth & Trading expand the Number range of Clients Advice of solutions for individual investors, RIAs, Digital Asset & participants. Assets Management Alternative Leverage Enhanced & Private Financial Management Investments Capab
Slide 159: Financial formula built for durability through the cycle
Defining tomorrow. Revenue Our financial formula is built for durability Expenses through the cycle. Balance Sheet & Capital 159 Charles Schwab Corporation
Slide 160: Revenue diversification drivers
Defining tomorrow. Revenue | Diversification Drivers 2025 Key Drivers Deeper client engagement Client Lending Solutions1 across our suite of NIR lending, wealth, & trading solutions Asset Management Wealth & Advice drives revenue AMAF growth & diversification. Trading Active Trader Other Note: NIR =
Slide 161: Revenue: net interest revenue diversification
Revenue | Net Interest Revenue Diversification Drivers Bank Increased client 2025 utilization of Retail HNW ~10% PAL Utilization ® 1 lending solutions & portfolio Avg. Spread to >100 bps Benchmark 2 strategies drives diversification Future Broker-Dealer within Net Interest ▪ Margin loans Revenue. ▪
Slide 162: Revenue: asset management & administration fees
Revenue | Asset Management & Administration Fees Increased client Diversification Drivers1 adoption of our Retail HHs in managed investing 2025 ~5% Managed Investing solutions, interest MI Assets in Schwab in emerging ~30% Wealth AdvisoryTM products, & greater platform RIAs with Allocation monetizat
Slide 163: Revenue: trading
Revenue | Trading Diversification Drivers Leading Retail Platform 2025 Serving clients’ ~$35T ~2.9B trading needs Notional Derivatives across more Trading Volume1 Contracts products & Traded2 markets supports Emerging Products diversified trading Future revenue over time. Equities & ETFs Derivatives
Slide 164: High-single-digit to low-double-digit revenue growth through the cycle
Revenue Organic Growth Revenue Diversification ✓ New account formation ✓ Increased client lending activity ✓ Net asset gathering ✓ Growing wealth utilization ✓ Market appreciation ✓ Expanded trading capabilities High-Single-Digit to Low-Double-Digit Revenue Growth Through the Cycle Revenue Growth Re
Slide 165: Expenses on client assets
Defining tomorrow. Expenses We continue ~16 bps to balance supporting organic ~12 bps growth & client Expenses on engagement Client Assets 1 with efficiency (EOCA) investments to drive long-term profitable growth. 2015 2025 Note: Bps = Basis points. EOCA = Expense on client assets. GAAP = Generally
Slide 166: Low cost-to-serve advantage
Expenses | Low Cost-to-Serve Advantage Expense on Client Assets (bps)1 Our disciplined 2025 approach to ~67 expense management ~38 ~35 helps Schwab ~12 ~11 maintain our 2 industry leading GAAP Adjusted Online Wirehouses Regionals Brokers & IBDs cost-to-serve. Note: Bps = Basis points. GAAP = General
Slide 167: Expense framework: Run, Grow, Optimize
Expenses | Framework Our expense 1 Run Costs to support business List 2027 and beyond initiatives operations & ongoing client needs framework enables us to manage the business with 2 Targeted investments to attract increasing Grow new List 2027 andclients, deepen engagement, beyond initiatives effic
Slide 168: Investing to accelerate growth initiatives
Expenses | Support Profitable Growth Select Investments We are investing to Grow Optimize further accelerate ▪ Retail Relationship ▪ Artificial Intelligence growth initiatives Expansion ▪ Global Capability that attract new ▪ Wealth Solutions Center investors, deepen Enhancements ▪ Tech Infrastructur
Slide 169: Positive operating leverage through the cycle
Expenses Profitable Growth Enhanced Efficiency ✓ Expense discipline ✓ Create investment capacity ✓ Redeploy capacity into ✓ Harness AI capabilities growth & client initiatives ✓ Drive incremental scale Positive Operating Leverage Through the Cycle Cost per Account EOCA Labor Mix Shift Note: EOCA = E
Slide 170: Balance sheet principles
Defining tomorrow. Balance Sheet | Principles We have taken Support our clients’ evolving intentional steps to needs enhance the durability of our Maintain a foundation of safety balance sheet across a & soundness wide range of environments. Drive financial outcomes Through the cycle 170 Charles Sch
Slide 171: Balance sheet principles in action
Balance Sheet | Principles in Action Supported robust client 1 engagement with limited 45% credit exposure Client Lending 1 We have taken Growth intentional steps Reduced interest to enhance the 2 rate sensitivity2 ~1/3 durability of our balance sheet Maintained investment 2–4 yrs across a wide 3 po
Slide 172: Capital framework
Defining tomorrow. Capital Preferred Stock Common Our capital Framework Redemption Stock framework will Dividend Support ongoing continue to business growth balance growth investments & opportunistic Common dividend $14.7B Capital Return1 payout range capital return, supporting durable shareholder v
Slide 173: Balance sheet & capital
Balance Sheet & Capital Balance Sheet Durability Opportunistic Capital Return ✓ Disciplined ALM framework ✓ Common dividend payout ✓ Diverse liquidity profile ✓ Preferred stock ✓ Strong capital levels ✓ Share repurchases Increased durability to Further enhance support growth long-term financial thro
Slide 174: Mid-teens EPS growth formula
High-single-digit Organic growth Revenue to low-double-digit revenue growth Diverse monetization Positive operating Profitable growth Expenses leverage Enhanced efficiency Balance Sheet Balance Sheet Increased durability Management + & Capital Capital Return Opportunistic capital return Mid-Teens EP
Slide 175: Financial scenario: select assumptions (Winter Business Update)
Financial Scenario | Select Assumptions Winter Business Update Interest Forward Curve Expectations1 Rates Fed Funds finishes 2026 at 3.25% Macro (upper-bound) Equity 6.5% appreciation Markets from 2025 EOY level Client ~5% organic net asset growth Growth Business Client FY26 DATs of ~7.4M Engagement
Slide 176: Financial scenario: select assumptions comparison
Financial Scenario | Select Assumptions Winter Business Update Institutional Investor Day Interest Forward Curve Expectations1 Forward Curve Expectations2 Rates Fed Funds finishes 2026 at 3.25% Fed Funds finishes 2026 at 3.75% Macro (upper-bound) (upper-bound) Equity 6.5% appreciation ~10% appreciat
Slide 177: Updated 2026 financial scenario
Financial Scenario | FY 2026 & 2Q26 Our updated 2026 financial scenario reflects strong momentum & robust client engagement to begin the year. Anticipate full-year revenue to increase by 14% to 15% vs. the prior year Full-Year ▪ Strong lending utilization supports NIM expansion into the 3.00% to 3.1
Slide 178: Q&A
Q&A Leading today. Defining tomorrow.
Slide 179: Strategy keeps us positioned for earnings growth through the cycle
Serve a Deepen Growing Existing Number Client of Clients Relationships Our “Through Serve a Growing Clients’ Number ofEyes” Clients strategy keeps us Earnings well-positioned to Growth Through deliver earnings the Cycle growth through the cycle. Apply Leverage Enhanced Disciplined Financial Manageme
Slide 180: Appendix
Appendix Leading today. Defining tomorrow.
Slide 181: Non-GAAP Introduction
Appendix Non-GAAP Introduction In addition to disclosing financial results in accordance with generally accepted accounting principles in the U.S. (GAAP), this presentation contains references to the non-GAAP financial measures described below. We believe these non-GAAP financial measures provide us
Slide 182: Non-GAAP Reconciliation: Adjusted total expenses and Adjusted net income
Appendix Non-GAAP Reconciliation: Adjusted total expenses and Adjusted net income Three Months Ended, Three Months Ended, Three Months Ended, Three Months Ended, Three Months Ended, Twelve Months Ended, Twelve Months Ended, March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31,
Slide 183: Non-GAAP Reconciliation: Adjusted diluted EPS
Appendix Non-GAAP Reconciliation: Adjusted net income to common stockholders and Adjusted diluted EPS Three Months Ended, Three Months Ended, Three Months Ended, Three Months Ended, Three Months Ended, Twelve Months Ended, Twelve Months Ended, March 31, 2026 December 31, 2025 September 30, 2025 June
Slide 184: Select Annualized Revenue Sensitivities
Select Annualized Revenue Sensitivities As of April 30, 2026 ~$35M Net Interest +/- $1B of Revenue Bank Sweep ~$250M Balances BDA Balances ~$35M – $300M ~$30M +/- 25 bps Target +/- 25 bps in +/- $1B Fed Funds Rate1 Fed Funds AMAF Margin Client ~$45M 3 ~$35M 2 +/- 100K Balances ~$20M S&P 500® Trading
Slide 185: Disclosures (1 of 2)
Disclosures (1 of 2) Investment and Insurance Products: Not a Deposit • Not FDIC Insured • Not Insured by any Federal Government Agency • No Bank Guarantee • May Lose Value Investing in alternative investments is speculative, not suitable for all clients, and generally intended for experienced and s
Slide 186: Disclosures (2 of 2)
Disclosures (2 of 2) Cryptocurrency products and the Schwab Crypto account are offered by Charles Schwab Premier Bank, SSB, Member FDIC. Charles Schwab Premier Bank, SSB and Charles Schwab & Co., Inc. are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Cryptocur
Slide 187: Institutional Investor Day
2026 Institutional Investor Day Leading today. Defining tomorrow.