Piper Sandler Companies · NYSE:PIPR
Piper Sandler Companies — Investor Presentation (August 2026)
30 slides from Piper Sandler Companies's investor presentation, August 2026
Slide 1: Investor Presentation
Investor Presentation August 2026
Slide 2: Piper Sandler Investor Presentation Disclosures
Piper Sandler Investor Presentation Disclosures Cautionary notice regarding forward-looking statements and non-GAAP financial measures This presentation contains forward-looking statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are
Slide 3: Contents
Contents 1. Value Proposition 2. Overview of Business Lines 3. Reconciliation of Non-GAAP Financial Measures Piper Sandler | 3
Slide 4: Value Proposition
01 Value Proposition
Slide 5: A Leading Investment Bank
$2.1B LTM 2Q 2026 adjusted net revenues* Employees 1,900+ across six countries A Leading Investment Bank 130+ Years serving clients We enable growth and success for our clients through deep sector expertise and candid advice while delivering consistent positive returns for Increase in shareholders t
Slide 6: Investment Rationale
Investment Rationale 1 2 3 Track record of profitable Diversified Platform Disciplined operating growth creates a destination of by business, sectors, management and capital choice for top talent products and clients light approach Why Piper Sandler? • We provide client value and drive shareholder r
Slide 7: Building a Stronger and more Durable Platform
Building a Stronger and more Durable Platform Advisory Revenues (in millions) 2026 2016 LTM 2Q 2026 $0 $200 $400 $600 $800 $1,000 $1,200 2016 Investment Banking Managing Directors 2016 2Q 2026 0 40 80 120 160 200 240 $690M $2.1B Net Revenues* Net Revenues* pipersa ndler.co Operating Margin* LTM 2Q 2
Slide 8: Our Diversified Platform
Our Diversified Platform With a focus on market leadership, we offer broad product capabilities and scale across business lines What We Do Our Clients INVESTMENT BANKING & INVESTMENT PUBLIC EQUITY FIXED PUBLIC FINANCE BANKING FINANCE BROKERAGE INCOME • Private Equity • Alternative Capital • Private
Slide 9: Creating and Delivering Shareholder Value
Creating and Delivering Shareholder Value Our consistent operating discipline and capital light approach results in strong cash generation and drives shareholder returns across cycles $338 Multiple levers to manage capital: • Acquisitions – deploy capital towards growth initiatives • Share repurchas
Slide 10: Driving Shareholder Value Through Strategic Acquisitions
Driving Shareholder Value Through Strategic Acquisitions Investing in Product, Sector and Geographic Expansion $75.71 PIPR Share Price as of 8/11/2026 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 February 2016 August 2019 January 2020 April 2020 December 2020 February 2022 Simmons & Compan
Slide 11: Well-Positioned for Next Stage of Growth
Well-Positioned for Next Stage of Growth INVESTMENT BANKING • Continued investment in sector, product and geographic expansion via corporate development and strategic hiring • Top priorities include private equity, technology and Europe PUBLIC FINANCE • Enhance market leadership with strategic hirin
Slide 12: Overview of Business Lines
02 Overview of Business Lines
Slide 13: Corporate Investment Banking
Corporate Investment Banking A Decade of Investing in Growth $1.4B 7 5 193 $362M MDs 88 MDs 2016 LTM 2Q 2016 2026 2016 2026 2026 Revenue Growth Invest in Top Talent Industry Diversification 14% investment banking revenue CAGR 8% managing director headcount CAGR 2 groups added to platform 8 15% CAGR
Slide 14: Sector Diversification Through Organic and Acquisitive Growth
Sector Diversification Through Organic and Acquisitive Growth Technology Consumer 2016 Services & Healthcare 3 Industrials Energy BioPharma 2026 Since 2016 Grown revenues, productivity, and market share Acquired firms have contributed talented leadership to our management teams Multiple market-leadi
Slide 15: A Full Range of Solutions Covering 100% of Clients' Lifecycle
A Full Range of Solutions Covering 100% of Clients’ Lifecycle 2016 Core Products 2026 Core Products 1 2 Mergers & Equity Acquisitions Capital 9 Markets 17 3 Product focused MDs 46 Debt Capital Product Markets focused MDs Since 2016 Grown revenues, productivity, and market share Acquired firms have c
Slide 16: Market Leadership in U.S. M&A
Market Leadership in U.S. M&A U.S. M&A Market Share Growth1 Top Ranked Financial Advisor Piper Sandler Number of Deals & Ranking in U.S. M&A1 LTM 2Q 2026 1 Houlihan Lokey Inc 290 #4 2 JP Morgan 199 #5 #2 3 Goldman Sachs & Co LLC 193 #2 4 Piper Sandler & Co 190 #3 #2 5 Jefferies LLC 184 #4 #4 #5 6 Ev
Slide 17: Advising Prominent & Transformative Companies Across Industries
Advising Prominent & Transformative Companies Across Industries $2,100,000,000 $2,174,000,000 $3,400,000,000 $3,500,000,000 $1,000,000,000 $7,000,000,000 $1,800,000,000 has announced its strategic combination with has merged with has been acquired by has merged with has announced its acquisition of
Slide 18: Expanding Non-M&A Capabilities
Expanding Non-M&A Capabilities Expanding opportunities to service clients and access diverse fee pools with a core focus on building out our non-M&A investment banking businesses. 1 Equity Capital Markets • Leading underwriter of growth companies • Leading aftermarket trading support • Focused and d
Slide 19: Debt Capital Markets Advisory
Debt Capital Markets Advisory Leader in middle market debt placement Leveraging deep industry knowledge and relationships with $50B key decision makers to create best-in-class outcomes In total proceeds across 300+ debt financings in all • Full suite of debt products with flexible use of proceeds ma
Slide 20: Private Capital Advisory
Private Capital Advisory Our comprehensive offerings across primary fundraising, secondary capital advisory, and capital solutions provide integrated, full- lifecycle support to financial sponsors and alternative investors 50 Professionals across five core offices • In 2024, Piper Sandler completed
Slide 21: Restructuring & Special Situations
Restructuring & Special Situations One of the most seasoned restructuring teams on Wall Street, having advised on some of the largest and most complicated assignments over the past 20 years 30 Restructuring professionals Advised the FDIC on the Advised the government Plan Administrator on behalf of
Slide 22: Best-In-Class Connectivity to Private Equity Buyers
Best-In-Class Connectivity to Private Equity Buyers A leading private equity advisory practice Most Active Middle-Market Investment Banks to U.S. Private Equity2 LTM 2Q 2026 750+ 695+ 45% 1 Houlihan Lokey 216 2 Jefferies 159 Leading financial M&A transactions Advisory revenues sponsors covered with
Slide 23: Premier Public Finance Platform
Premier Public Finance Platform Local market relationships and knowledge amplified by the Negotiated Transactions and strength of substantial scale and expertise Private Placements3 LTM 2Q 2026 • Uniquely positioned market leader with margin discipline and focus on productivity 1 Stifel Nicolaus & C
Slide 24: Fastest Growing Equity Platform on Wall Street
Fastest Growing Equity Platform Strategic Investments on Wall Street 2019 Equity Trading: No. 1 No. 1 No. 4 Acquired Weeden & Co. to be a SMID cap liquidity for facilitating corporate Largest domestic account base, market leader in best execution provider1 access with investors2 No. 8 largest global
Slide 25: Industry-Leading Research
Industry-Leading Research Offering clients genuine thought leadership and unique perspectives Top-ranked analysts by Institutional Investor/Extel and Starmine Macro Research Equity Research Our analysts utilize independent processes that provide impartial We publish collaborative, cross-sector resea
Slide 26: Market Leading Fixed Income Platform
Market Leading Fixed Income Platform Differentiated model providing comprehensive solutions to clients • Capital efficient, advice driven business model • Closely integrated with investment banking and public finance • Long-standing leader in depositories providing sales and trading as well as strat
Slide 27: Reconciliation of Non-GAAP Financial Measures
03 Reconciliation of Non-GAAP Financial Measures
Slide 28: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures LTM Twelve Months Ended June 30, December 31, (Amounts in thousands) 2026 2025 2016 Net revenues: Net revenues – U.S. GAAP basis $2,115,250 $1,899,376 $693,214 Adjustments: Investment income related to noncontrolling interests (64,259) (20,367) (11,070)
Slide 29: Reconciliation of Non-GAAP Financial Measures – continued
Reconciliation of Non-GAAP Financial Measures – continued LTM Twelve Months Ended June 30, December 31, (Amounts in thousands) 2026 2025 2016 Income tax expense: Income tax expense – U.S. GAAP basis $120,705 $80,582 $10,926 Tax effect of adjustments: Compensation from acquisition-related agreements
Slide 30: Reconciliation of Non-GAAP Financial Measures – continued
Reconciliation of Non-GAAP Financial Measures – continued LTM Twelve Months Ended June 30, December 31, (Amounts in thousands, except per share data) 2026 2025 2016 Net income/(loss) applicable to Piper Sandler Companies' common shareholders: Net income/(loss) applicable to Piper Sandler Companies'
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