Q3 Quarterly Results (20fb6a)

Robinhood Markets, Inc.

Earnings Presentation Third Quarter 2026

October 27, 2026

Robinhood Earnings Presentation Q3 2026

Funded Customers1

in millions

Robinhood Gold Subscribers

+1.30M

year-over-year

+340K

sequential

in millions

+1.9M

year-over-year

+340K

sequential

26.8

27.0

27.4

28.4 28.7

Robinhood Gold Subscribers Robinhood Gold Adoption Rate²

3.88

4.18

4.34

4.84

14.5%

15.8%

15.5%

17.0%

18.0%

5.18

Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Total Platform Assets1

in billions

Net Deposits3

$71B

LTM

+21%

LTM Growth

in billions

$333

$369

$396

$322

$307

+19%

year-over-year

+7%

sequential

Net Deposits Annualized Growth Rate⁴

$20.4

$21.7

$15.9 $17.7

$15.7

17%

19%

22%

29%

28%

Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

K = Thousands, B = Billions, M = Millions, LTM = Last twelve months.

1. Funded Customers do not include Trump Accounts. Starting in July 2026, Total Platform Assets include Trump Account assets custodied by Robinhood. Please refer to the definitions in the Appendix for more information.

2. Defined as end of period Robinhood Gold Subscribers divided by end of period Funded Customers.

3. Starting in July 2026, Net Deposits include Trump Account contributions.

4. Relative to prior period Total Platform Assets. Refer to definitions in the Appendix for growth rate calculations.

investors.robinhood.com 3

Robinhood Earnings Presentation Q3 2026

Total Net Revenues

in millions

Adjusted Operating Expenses and SBC

+8%

year-over-year

+4%

sequential

in millions

+12%

year-over-year

+9%

sequential

$1,274

$1,283

$1,308

$1,067

$5.1B over the last twelve months

$1,424

$613

$597

$607

$641

$664

$2.5B over the last twelve months

Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Adjusted EBITDA

in millions

Net Income

(14%)

year-over-year

(17%)

sequential

in millions

+9%

year-over-year

+9%

sequential

Adjusted EBITDA Adjusted EBITDA Margin

58% 59%

$534

$2.8B (56% margin) over the last twelve months

$742 $761

$476

$346

$2.0B over the last twelve months

50%

57% 57%

$741 $808

$556 $605

$573

Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

1. Q2 2026 Net income included $129 million of gains primarily related to the deconsolidation of Robinhood Ventures Fund I ("RVI"), equivalent to $0.14 of EPS.

2. Q3 2026 Net income included $67 million of unrealized losses primarily related to the mark-to-market of RVI, equivalent to $0.07 of EPS.

Diluted EPS

Q3'25 Q4'25 Q1'26 Q2'26¹ Q3'26²

$0.61 $0.66 $0.38 $0.62 $0.51

Adjusted Operating Expenses and SBC, Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted EPS are non-GAAP financial measures. Refer to the Appendix for the reconciliations of Adjusted

Operating Expenses and SBC, Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted EPS to the most directly comparable GAAP measures, operating expenses, net income, net margin, and Diluted

EPS respectively.

investors.robinhood.com

Adjusted

EPS

$0.62 $0.66 $0.41 $0.50 $0.60

4

Robinhood Earnings Presentation Q3 2026

Q4 2025

14 US Crypto assets added in Q4

Perpetual futures available to all eligible customers in the EU Cortex Stock Digests for Equities and Crypto in US and UK 10 EU Crypto assets added in Q4

Closed-end-funds available to US customers Discounted mortgages through Sage Home Loans1

~1,500 Stock Tokens added in EU in Q4 Short selling available to customers

Robinhood announces exchange Joint Venture to accelerate Prediction Markets

Robinhood is coming to Indonesia2

Introducing Prediction Markets Preset Combos, Custom Combos, and Player Contracts

Introducing Cortex Assistant & Portfolio Digests available to Gold subscribers

Money market funds available to EU customers

Q1 2026

17 US Crypto assets added in Q1

Robinhood Legend scanner widget and hotkeys Prediction Markets custom combos available to customers 10 EU Crypto assets added in Q1

Multi-currency wallets for international customers Cortex Portfolio Digests available to Gold subscribers Stock and shares ISAs available to UK customers Complimentary DIY tax filing through april tax solutions Robinhood Chain launches public testnet

Introducing custodial and trust accounts, the Platinum Card, Family Hub, Strategies tax aware transfers and Early Dividends³ Robinhood Ventures Fund I (RVI) IPO

Robinhood Social beta live

Up to 10x leverage on perpetual futures for EU customers

Q2 2026

18 US Crypto assets added in Q2 Robinhood Gold Rewards Hub

Index options extended hours and overnight trading 13 EU Crypto assets added in Q2

In-principle approval to launch brokerage in Singapore Crypto trading in multiple individual accounts

Early dividends

Agentic equities trading and agentic credit card Trump Accounts app

Robinhood completed its acquisition of WonderFi Rothera Exchange is live

Introducing Robinhood Advisor Network

Cortex, IPO Access, and RHV for TradePMR RIAs Dividend tracker

Agentic options trading Multileg Option Order Router

1. Available to eligible Gold Subscribers. Sage Home Loans Corporation NMLS ID #3304 is not affiliated with any Robinhood entity. Robinhood is not a lender.

2. Announced Robinhood entered into agreements to acquire PT Buana Capital Sekuritas, an Indonesian brokerage, and PT Pedagang Aset Kripto, a licensed Indonesian digital financial asset trader on 12/7/2025. Each pending acquisition is subject to customary closing conditions, including regulatory approvals.

3. Announced custodial accounts, trust accounts, the Robinhood Platinum Card (currently rolling out via waitlist), Family Hub (not yet available to customers), Robinhood Strategies tax aware transfers, and Early Dividends on 3/4/2026.

4. Increased US Crypto assets by 6 to a total of 90 and EU Crypto assets by 6 to a total of 98 in Q3.

5. DeFi Stock Tokens and Robinhood Wallet Perpetuals are not available to US customers.

6. Announced Robinhood Agents and Agent Apps (currently rolling out to eligible US customers), 24/7 equities trading (not yet available to customers), expanded options hours, perpetual futures for eligible US customers (currently rolling out), agentic trading in Robinhood Legend, earnings contracts (not yet available to customers), and Robinhood Social general availability on 9/29/2026

investors.robinhood.com 5

Robinhood Earnings Presentation Q3 2026

In millions

Year-over-year change +1.9M Sequential change +340k

As of Q3 2026, we had 30.4M Investment Accounts, up 2.5M year-over-year.

29.9

30.4

29.1

Investment Accounts

27.9

28.4

27.0

27.4

28.4

28.7

26.2

27.0

27.4

25.1

26.5

26.8

24.3

25.2

25.8

Funded Customers do not include Trump Accounts.

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Robinhood Earnings Presentation Q3 2026

Total Platform Assets increased 19% year-over-year to a record $396 billion in Q3 due to continued Net Deposits and higher equity valuations, partially offset by lower cryptocurrency valuations

In billions

$221

$279

$333 $322 $307

(17%)

+13%

+5%

NM

+44%

+37%

NM

(26%)

$369

$152

$208

$193

$212

$396

Year-over-year change

+19%

+21%

Sequential change

+7%

+2%

Equities Options and futures¹ Cryptocurrencies Net cash held by users RIA Assets

Average Total Platform Assets per Funded Customer (in thousands)2

$10.5

$6.3 $7.7 $8.6

$12.4 $11.9 $11.2 $13.0 $13.8

Starting in July 2026, Total Platform Assets include Trump Account assets custodied by Robinhood. Certain immaterial Total Platform Asset balances are not displayed on the chart. Refer to our SEC filings for details on components of Total Platform Assets. Refer to the Appendix for changes in Total Platform Assets and details of net cash held by users. Q3 2026 ETF balances totaled ~$87 billion, representing 31% of total Q3 2026 equities under custody, increased from 28% in Q3 2025.

1. Futures consists of futures, options on futures and swaps, including event contracts, which we launched during the fourth quarter of 2024.

2. Defined as end of period Total Platform Assets divided by end of period Funded Customers.

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Robinhood Earnings Presentation Q3 2026

Robinhood Retirement AUC1 grew to a record $37 billion in Q3

End of period, in millions

End of period, in $ billions

16.0 16.1

14.8

14.7

13.8

13.0

11.4

10.5

10.9

End of period, in $ thousands

Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Up 40%

2.28

2.15

1.98

1.80

1.63

1.46

1.32

1.15

0.94

Up 51%

36.6

34.5

26.5

27.4

24.2

19.0

14.4

13.1

9.9

Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

1. Does not include TradePMR.

2. Defined as end of period Robinhood Retirement AUC divided by the total number of traditional IRAs and Roth IRAs at the end of the period.

investors.robinhood.com 8

Robinhood Earnings Presentation Q3 2026

Robinhood Gold Subscribers grew to a record 5.2 million in Q3, representing ~18% of Funded Customers

Robinhood Gold Subscribers receive meaningful value for $5 per month1

High-Yield Cash 3.60% APY on uninvested cash with up to $5M FDIC insurance

through the Cash Sweep Program

Retirement 3% IRA match

Lower fees on futures, index options, and event contracts2

Trading

First $1,000 of margin free

Gold Card3 with 3% cash back on all categories

Robinhood Gold Subscribers

In millions

4.18

4.34

3.48

3.88

2.19

2.64

3.19

18.0%

15.5%

17.0%

10.5%

9.0%

12.4%

13.1%

14.5%

15.8%

Q3 2026

5.18M

+34% (1.30M) Y/Y

+7% (340K) Q/Q

Robinhood Gold Subscribers Robinhood Gold Adoption Rate⁶

4.84

5.18

Credit Cards

Platinum Card3 with up to 5x higher limits than Gold Card, higher cash back on travel and dining, and over $3,000 in annual value through other benefits

Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Robinhood Strategies Management fees capped at $250 per year

Annualized Robinhood Gold Subscription Revenue7 (in millions)

$248

$216

$200

$200

$188

$176

$152

$128

$112

Robinhood Cortex

Robinhood Banking4

Stock and Crypto Digests, Portfolio Digest

Assistant

Private banking experience with checking and savings, digital wealth app, and additional perks

3.60% APY on cash with up to $50M FDIC insurance

Compared to our average Funded Customer8, our average Robinhood Gold Subscriber has...

Exclusive Mortgage Rates5 0.75%+ discount to average mortgage rate and $500 closing

cost credit through Sage Home Loans

Rewards Hub Access to rewards that can include partner offers, crypto gifts,

limited time giveaways, and access to the Gold Collection store

Assets Under Custody8

Net Deposit Growth Rate8

Robinhood Retirement Adoption Rate8

1. Robinhood Gold offering and pricing as of 10/26/2026.

2. Other fees may apply when trading event contracts, futures, and index options.

3. The Robinhood Gold Card and the Robinhood Platinum Card are currently rolling out via a waitlist.

4. Robinhood Banking is currently rolling out to Gold Subscribers. Robinhood is a financial technology company, not a bank. Banking services are provided by Coastal Community Bank, Member FDIC.

5. Sage Home Loans Corporation NMLS ID #3304 is not affiliated with any Robinhood entity. Robinhood is not a lender. Average based on a customer's loan scenario, informed by the Mortgage News Daily national average.

6. Defined as end of period Robinhood Gold Subscribers divided by end of period Funded Customers.

7. Defined as Robinhood Gold subscription revenue in a given quarter times four.

8. Comparisons exclude Funded Customers who solely use X1, TradePMR or Bitstamp, as well as WonderFi customers. Assets Under Custody and Robinhood Retirement Adoption Rate figures as of 9/30/2026. Net Deposit growth rate over the LTM ending 9/30/2026. Refer to definitions in the Appendix for growth rate calculations.

investors.robinhood.com 9

Robinhood Earnings Presentation Q3 2026

Net Deposits were $16 billion in Q3, translating to a 17% annualized growth rate, and were

In billions

Last twelve months Net Deposits $71.0 Last twelve months growth rate 21%

$20.4

$21.7

$16.1

$18.0

$15.9

$17.7

$13.8

$15.7

$10.0

29%

25%

17%

19%

42%

22%

37%

29%

28%

Net Deposits Annualized Growth Rate¹

Q3 2026 Net Deposits of $15.7B included the net effect of ~$3.2B ACATS In and ~$2.3B ACATS Out. Automated Customer Account Transfer Service ("ACATS") is a system that automates and standardizes procedures for the transfer of assets in a customer account from one brokerage firm and / or bank to another. Starting in July 2026, Net Deposits include Trump Account contributions. Please refer to the definitions in the Appendix for more information.

(1) Refer to definitions in the Appendix for details on growth rate calculations.

investors.robinhood.com 10

Robinhood Earnings Presentation Q3 2026

$18,000

$15,000

$12,000

$9,000

$6,000

$3,000

$-

0 4 8 12 16 20

Quarters

Customer Cohort Key

2021

2022

2023

2024

2025

2026

Funded Customer Cohorts reflect quarterly cohorts, from Q1 2021 through Q3 2026. Comparisons exclude Funded Customers who solely use X1, TradePMR, Bitstamp, or WonderFi.

(1) "Average cumulative Net Deposits" defined as total cumulative Net Deposits from a cohort divided by the cohort size.

(2) A "Funded Customer Cohort" comprises end of period Funded Customers who were first considered a New Customer in a given quarter.

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Robinhood Earnings Presentation Q3 2026

Equity Notional Volumes

In $ billions

Options Contracts Traded

In millions of contracts

Crypto Notional Volumes

In $ billions

Up 53% Y/Y and up 4% Q/Q

Up 48% Y/Y and up 17% Q/Q

Down 38% Y/Y and up 23% Q/Q

992

956

710

647

638

517

423

413

286

Robinhood App Bitstamp

905

65.7

49.8

46.1

40.4

35.0

14.4

774

659

610

586

477

500

515

443

80.3 82.4

71.0

Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Refer to page 32 for details on volumes for newer trading products, including Index Options, Futures, and Event Contracts.

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Robinhood Earnings Presentation Q3 2026

Total net revenues were up 12% year-over-year to a record $1.4 billion in Q3, and ARPU was $200

In millions, except for ARPU

$142

$623

$776

$776

Average Revenue per User (ARPU)

$164 $145 $151

$105

$1,014

$191 $191

$1,274 $1,283

$157

$1,067

$187

$1,308

$200

$1,424

Year-over-year change

+12%

Sequential change

+9%

$637

$44

$46

$296

$927 $989

Transaction-based revenues Net interest revenues Other revenues¹

Contra revenue associated with match incentives paid to customers is allocated across Transaction-Based Revenues, Net Interest Revenues, and Other Revenues on a proportional basis. For details on the allocation of this contra revenue, refer to page 37 in the Appendix.

(1) Q3 2026 Other revenues included $47M of service revenues related to Trump Accounts.

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Robinhood Earnings Presentation Q3 2026

Transaction-based revenues were up 19% year-over-year to a record $867 million in Q3

In millions

$672

$583

$539

$730

$776

$623

$776

$56

$82

$86

$121

$129

$61

$867

Year-over-year change

+19%

Sequential change

+12%

$319

$19

Equity Options Crypto¹ Event Contracts Other²

Certain immaterial transaction-based revenues are not displayed on the chart. Refer to our Earnings Supplement details on components of transaction-based revenues.

(1) Q3 2026 Crypto transaction-based revenues includes $26M of net revenues attributable to the Robinhood Chain.

(2) Other transaction-based revenues primarily comprise revenues related to instant withdrawals, futures, and interchange revenues which are offset by rewards expense. Instant withdrawals annualized revenues (defined as revenue in a given quarter times four) were ~$130M in Q3'26, compared to ~$140M in Q2'26.

investors.robinhood.com 14

Robinhood Earnings Presentation Q3 2026

Net interest revenues were down 9% year-over-year to $415 million in Q3 as lower securities lending activity and short-term interest rates offset growth in interest-earning assets

In millions

Year-over-year change (9%)

Sequential change +7%

$456

$17

$274

$19

$46

$296

$26

$50

$290

$23

$48

$357

$13

$54

$87

$64

$411

$24

$26

$57

$359

$32

$4

$45

$389

$40

$10

$41

$415

$50

$45

$55

$60

$83

$60

$103

$58

$61

$74

$56

$77

$244

$196

$193

$215

$83

$91

$110

$114

$153

$67

$53

$49

$46

$39

$33

$34

$31

($6)

($6)

($6)

($8)

($8)

($10)

($8)

($10)

$47

($19)

($8)

Credit card, net Cash Sweep

Interest on segregated cash, securities, and deposits

Margin interest

Interest on corporate cash and investments

Securities lending, net

Interest expense related to credit facilities

Certain immaterial net interest revenues are not displayed on the chart. Refer to page 38 in the Appendix for additional details on net interest revenues.

investors.robinhood.com 15

Robinhood Earnings Presentation Q3 2026

Business lines that have reached $100M or more in annualized revenues1

+ Rothera

+ Credit Card

+ Fully Paid Securities Lending

+ Prediction Markets

+ Robinhood Legend

+ Margin Interest

+ Crypto Trading

+ Margin Based Securities Lending

+ Cash Sweep

+ Instant Withdrawals

+ Bitstamp 14

+ Gold Subscriptions

+ Options Trading

+ Equities Trading

6

3 4

(1) Measured based on when a given business crossed ~$100 million in quarterly annualized revenues (revenues in a given quarter times 4).

investors.robinhood.com 16

Robinhood Earnings Presentation Q3 2026

Adjusted Operating Expenses and SBC increased 8% year-over-year to $664 million in Q3

In millions

Year-over-year change +8%

Sequential change +4%

$476

$79

$23

$98

$508

$77

$19

$97

$533

$73

$522

$78

$613

$78

$597

$76

$607

$79

$641

$91

$664

$78

$126

$152

$145

$128

$139

$109

$100

$103

$56

$26

$80

$27

$103

$30

$97

$27

$100

$32

$91

$35

$105

$99

$78

$37

$54

$197

$201

$199

$214

$157

$160

$170

$175

$196

$37

$48

$48

$45

$54

$54

$57

$59

$65

Q3'24 Q4'24 Q1'25¹ Q2'25 Q3'25 Q4'25 Q1'26² Q2'26² Q3'26

Brokerage and transaction Technology and development Operations Marketing General and administration Provision for credit losses¹ Share-based compensation

Adjusted Operating Expenses and SBC is a non-GAAP financial measure. Refer to the Appendix for the reconciliations of Adjusted Operating Expenses and SBC to the most directly comparable GAAP measure, total operating expenses. Certain reclassifications have been made to prior year amounts to conform to the current year presentation. The impact of these reclassifications is immaterial to the presentation of the financials taken as a whole.

(1) Starting in Q1 2025, Adjusted Operating Expenses and SBC no longer includes provision for credit losses.

(2) Q1 2026, Q2 2026, and Q3 2026 Adjusted Operating Expenses and SBC excludes $13M, $7M, and $2M in SBC attributable to our CFO transition, respectively, and Q2 2026 Adjusted Operating Expenses and SBC excludes an additional $7M of SBC related to our restructuring. Refer to Appendix for the definition of Adjusted Operating Expenses and SBC.

investors.robinhood.com 17

Robinhood Earnings Presentation Q3 2026

We are lowering the top end of our full year Adjusted Operating Expenses and SBC outlook range by $25 million

Adjusted Operating Expenses and SBC

-$25M

at top-end

$2.675B - $2.775B $2.675B - $2.75B

Prior 2026 Outlook¹ Current 2026 Outlook¹

• Our prior outlook for 2026 Adjusted Operating Expenses and SBC was

  $2.675 to $2.775 billion.

• Through Q3, we've managed expenses to be lower than the quarterly average of our prior outlook.

  • Year-to-date through Q3, Adjusted Operating Expenses and SBC was $1.91 billion.

• As we look ahead to the rest of the year, we plan to continue to invest for growth across new and existing products. At the same time, we've continued to drive efficiencies across the business, and are carefully managing costs as we finish the year.

• So, we are lowering the top end of our prior outlook range by $25 million.

• We now expect full year Adjusted Operating Expenses and SBC between $2.675 and $2.75 billion, down $13 million at the midpoint from our prior outlook.

  • This implies ~$765 to ~$840 million of Adjusted Operating Expenses and SBC in Q4.

Our 2026 outlook does not include provision for credit losses, costs related to our pending acquisitions, costs from equity modifications of restructuring and executive awards related to our CFO transition, interest expenses classified as operating expenses, potential significant regulatory matters, or other significant expenses whose size or timing we are unable to accurately predict.

(1) Prior 2026 Outlook provided on 7/29/2026. Current 2026 Outlook provided on 10/27/2026.

Adjusted Operating Expenses and SBC is a non-GAAP financial measure. Refer to the Appendix for the reconciliation of Adjusted Operating Expenses and SBC to the most directly comparable GAAP measure, total operating expenses. Refer to the Appendix for additional information on our 2026 outlook.

investors.robinhood.com 18

Robinhood Earnings Presentation Q3 2026

Basic and Diluted Share Count

in millions

Share-Based Compensation Expense

in millions

23 20

22 20

Year-to-date

922

921

923

919

918

901

899

901

901

899

17 change

(0.3%)

$105

$92

$78

$76

$80

$353M (7% of total net revenues) over the last twelve months

Q3'25¹ Q4'25 Q1'26 Q2'26 Q3'26

Basic Share Count Dilutive Shares²

6%

8%

9%

6%

6%

SBC as a % of Total Net Revenues

1. Q3'25 includes the impact of approximately 7M 2019 CEO Market-Based RSUs vesting. Refer to Appendix for definition of 2019 CEO Market-Based RSUs.

2. Under GAAP, for any period with net income, diluted EPS is calculated using the treasury method for diluted shares, which may cause differences compared to diluted shares shown in this schedule dependent on Robinhood's share price.

investors.robinhood.com 19

Robinhood Earnings Presentation Q3 2026

GAAP net income was $476 million in Q3 and $2.0 billion over the last twelve months

In millions, except for EPS and Adjusted EPS

$916

Year-over-year change (14%)

Sequential change (17%)

$556

$605

$573

$476

$336

$386

$346

$150

$2.0B or $2.17 of Diluted EPS LTM

Q4 2024 Tax Benefit

and Regulatory Accrual Reversal

$424

Diluted EPS

Adjusted EPS

Q4 2024 EPS Prior to Tax Benefit and Regulatory Accrual Reversal was $0.54

1. Q2 2026 Net income included $129 million of gains primarily related to the deconsolidation of Robinhood Ventures Fund I ("RVI"), equivalent to $0.14 of EPS.

2. Q3 2026 Net income included $67 million of unrealized losses primarily related to the mark-to-market of RVI, equivalent to $0.07 of EPS.

Q4 2024 Net Income Prior to Tax Benefit and Regulatory Accrual Reversal, Q4 2024 EPS Prior to Tax Benefit and Regulatory Accrual Reversal, and Adjusted EPS are non-GAAP financial measures. Refer to the Appendix for the reconciliation of Q4 2024 Net Income Prior to Tax Benefit and Regulatory Accrual Reversal, Q4 2024 EPS Prior to Tax Benefit and Regulatory Accrual Reversal, and Adjusted EPS to the most directly comparable GAAP measures, net income (loss), Diluted EPS, and Diluted EPS, respectively.

For purposes of comparison, we have produced Adjusted EPS for historical periods starting with Q1 2025. Adjusted EPS prior to Q1 2025 has therefore been marked as not available ("NA").

investors.robinhood.com 20

Robinhood Earnings Presentation Q3 2026

Adjusted EBITDA increased 9% year-over-year to a record $808 million in Q3 and

Year-over-year change +9%

In millions

Sequential change +9%

$742

$761

$741

$808

$613

$470

$549

$534

$268

(56% margin) over the last twelve months

$2.8B

57%

50%

59%

58%

56%

51%

60%

42%

57%

Adjusted EBITDA

Margin

Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures. Refer to the Appendix for the reconciliations of Adjusted EBITDA and Adjusted EBITDA Margin to the most directly comparable GAAP measures, net income and net margin.

investors.robinhood.com 21

Robinhood Earnings Presentation Q3 2026

131%

108%

98%

94%

77%

56%

38%

42%

52%

75%

56%

56%

56%

56%

Y/Y Change in Total Net Revenues Adjusted EBITDA Margin

1. Defined as year-over-year change in total net revenues plus Adjusted EBITDA Margin in a given period.

   Adjusted EBITDA Margin is a non-GAAP financial measure. Refer to the Appendix for the reconciliations of Adjusted EBITDA Margin to the most directly comparable GAAP measure, net margin.

   investors.robinhood.com 22

   Robinhood Earnings Presentation Q3 2026

   With $6B in corporate cash, investments, and stablecoin1, we are well positioned to continue deploying capital

   • Our balance sheet remains strong with $6 billion of corporate cash, investments, and stablecoin1 today, as well as $4.9 billion in available lines of credit.

   • In order to increase our capacity to invest for future growth, we opportunistically raised $2.2 billion of 0% coupon convertible notes in June 2026.

     • The notes are due October 2029, and as of Q3'26, $2.2B were outstanding.

   • We will continue to look to drive growth and shareholder value by allocating capital across:

     • Organic growth

     • M&A

     • Shareholder returns

Year-over-year change +$1.6 Sequential change +$0.4

In billions

$5.1

$5.1

$5.2

$5.6

$4.6

$4.3

$4.4

$4.6

$6.0

(1) Includes cash and cash equivalents, investments, and stablecoin. For more information on our investments and stablecoin, see Note - Investments and Fair Value Measurement to our consolidated financial statements in our Q2 2026 10-Q, and, once filed, our Q3 2026 10-Q.

investors.robinhood.com 23

Robinhood Earnings Presentation Q3 2026

In Q3, we returned $25 million to shareholders, and have repurchased 7.7M of our shares1 for ~$690 million year-to-date

Share Repurchases

In millions

As of 9/30/2026

Q2 2026 includes $290M (2.7M shares) of repurchases in connection with our June 2026

convertible notes offering and outside of our existing share repurchase authorization.

$414

$322

$250

$160

$124

$107

$100

$25

Q4'24 Q1'25² Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Diluted Shares (In millions)

~$1,350M

Remaining

$1.5B Share Repurchase Program

(1) Shares of our Class A common stock.

(2) Includes ~2 million shares repurchased to offset shares issued in connection with our acquisition of TradePMR.

investors.robinhood.com 24

Appendix

25

Robinhood Earnings Presentation Q3 2026

2025 2026 Change

Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep M/M Y/Y

Funded Customer Growth (M)

See the Appendix for definitions. Monthly percentage change represents the most recent calendar month as compared to the immediately preceding calendar month. Yearly percentage change represents the most recent calendar month as compared to the same month of the prior year.

1. Funded Customers do not include Trump Accounts.

2. Starting in July 2026, Total Platform Assets include Trump Account assets custodied by Robinhood.

3. Starting in July 2026, Net Deposits include Trump Account contributions.

4. Average Daily Trading Volumes defined as Total Trading Volume in a given period divided by the applicable number of trading days in said period.

5. Crypto DATs do not include Bitstamp institutional activity.

6. In February 2026, we updated our brokerage High-Yield Cash program to fund growth in margin lending. Under the updated program, the first $10 thousand in enrolled balances per eligible customer are held as free credit balances where the customer continues to earn the same interest rate. This resulted in over $6 billion of Cash Sweep balances moving to free credit balances in February 2026. Refer to Appendix for definition of Cash and Deposits.

7. Starting in December 2025, includes Robinhood Banking balances.

investors.robinhood.com 26

Robinhood Earnings Presentation Q3 2026

Funded Customers¹

Sep-26

28.7M

+140k M/M

+1.88M Y/Y

In millions

Total Platform Assets¹

In $ billions

Net Deposits¹

In $ billions

Sep-26

$396B

+3% M/M

+19% Y/Y

Select Interest Earning Assets

In $ billions

Sep-26

$6.1B

19% Annualized Growth

$71.0B LTM

21% LTM Growth

Sep-26

$74.8B

+3% M/M

+18% Y/Y

Totals may not foot due to rounding.

1. Funded Customers do not include Trump Accounts. Starting in July 2026, Total Platform Assets include Trump Account assets custodied by Robinhood and Net Deposits include Trump Account contributions.

2. Starting in December 2025, includes Robinhood Banking balances. In February 2026, we updated our brokerage High-Yield Cash program to fund growth in margin lending. Under the updated program, the first $10 thousand in enrolled balances per eligible customer are held as free credit balances where the customer continues to earn the same interest rate. This resulted in over $6 billion of Cash Sweep balances moving to free credit balances in February 2026.

investors.robinhood.com 27

Robinhood Earnings Presentation Q3 2026

(1) Average daily volumes ("ADVs") defined as Total Trading Volume in a given period divided by the applicable number of trading days in said period..

investors.robinhood.com 28

Robinhood Earnings Presentation Q3 2026

investors.robinhood.com 29

Robinhood Earnings Presentation Q3 2026

In billions

(1) Starting in December 2025, includes Robinhood Banking balances.

(2) In February 2026, we updated our brokerage High-Yield Cash program to fund growth in margin lending. Under the updated program, the first $10 thousand in enrolled balances per eligible customer are held as free credit balances where the customer continues to earn the same interest rate. This resulted in over $6 billion of Cash Sweep balances moving to free credit balances in February 2026.

investors.robinhood.com 30

Robinhood Earnings Presentation Q3 2026

Equity Notional Volumes Options Contracts Traded Robinhood App

Crypto Notional Volumes1

Bitstamp

Crypto Notional Volumes1

Customers placing trades

Flat Y/Y (6%) Q/Q

Customers placing trades

(11%) Y/Y

(8%) Q/Q

Customers placing trades

(37%) Y/Y

(12%) Q/Q

Customers placing trades

(68%) Y/Y

(16%) Q/Q

Up 53% Y/Y and up 4% Q/Q Driven by:

Up 48% Y/Y and up 17% Q/Q Driven by:

Down 48% Y/Y while up 13% Q/Q Driven by:

Down 28% Y/Y while up 32% Q/Q Driven by:

Avg. notional volume per trader

+48% Y/Y

+9% Q/Q

Contracts per trader

+66% Y/Y

+27% Q/Q

Avg. notional volume per trader

(13%) Y/Y

+26% Q/Q

Avg. notional volume per trader

+119% Y/Y

+57% Q/Q

(1) Refer to Appendix for the definition of Notional Trading Volume.

investors.robinhood.com 31

Robinhood Earnings Presentation Q3 2026

Index Options Contracts Traded1

In millions of contracts

Futures Contracts Traded

In millions of contracts

Event Contracts Traded

In billions of contracts

Up 94% Y/Y

Up 51% Y/Y

Up >7x Y/Y

48.1

34.5

29.3

29.4

24.8

Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

20.1

17.6

16.7

13.7

9.1

Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

16.4

13.6

8.5

8.8

2.3

Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Rothera Event Contracts Traded (in billions of contracts)2

3.4

2.1

-

-

-

(1) Index Options Contracts Traded are included in Options Contracts Traded. Refer to Appendix for the definition of Options Contracts Traded.

(2) Q3 2026 Event Contracts revenue was $173M, which includes Rothera revenues of $28M. Refer to appendix for definition of Rothera Event Contracts Traded.

investors.robinhood.com 32

Robinhood Earnings Presentation Q3 2026

Q4'25 Q1'26 Q2'26 Q3'26 Sequential

change

Robinhood App

34.0

23.8

18.3

20.6

+13%

Retail

4.6

2.7

1.4

1.5

+7%

Crypto Notional Trading Volumes

82.4

65.7

40.4

49.8

+23%

Robinhood App

204

121

94

88

(6%)

Crypto Transaction-Based Revenues ex-Robinhood Chain

221

134

100

94

(6%)

NA

Robinhood Chain Crypto Transaction-Based Revenues - - - 26

-%

Bitstamp 17 13 6 6

+34%

Institutional 43.8 39.2 20.7 27.7

Crypto Notional Trading Volumes ($B)

Crypto Transaction-Based Revenues 221 134 100 120 +20%

(1) Refer to Appendix for the definition of Notional Trading Volume.

investors.robinhood.com 33

Robinhood Earnings Presentation Q3 2026

Robinhood Gold Card Cardholders

In millions

Robinhood Banking Balances

In $ billions

Robinhood Strategies Assets Under Management

In $ billions

Up >3x Y/Y and up 30% Q/Q

1.3

1.0

0.8

0.6

0.4

0.3

0.2

0.1

0.1

Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Total Robinhood Gold Card Balances (in $ billions)

Up ~$1.5B Q/Q

4.6

3.1

1.6

0.1

Q4'25 Q1'26 Q2'26 Q3'26

345

245

110

15

Funded Customers (in thousands)

Up 133% Y/Y and up 11% Q/Q

2.1

1.9

1.5

1.3

0.9

0.4

Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

350

310

270

210

160

95

Funded Customers (in thousands)

investors.robinhood.com 34

Robinhood Earnings Presentation Q3 2026

In millions

Year-over-year change (0.8)

Sequential change (1.1)

13.8

13.0

13.5

14.1

13.0

investors.robinhood.com 35

Robinhood Earnings Presentation Q3 2026

Annualized revenue per employee was $1.9 million in Q3, up 7% year-over-year

Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Year-over-year

change

Sequential change

(1) Q1 2025 reflected the addition of ~150 employees as a result of the acquisition of TradePMR, and Q2 2025 reflected the addition of ~350 employees as a result of the acquisition of Bitstamp.

(2) Annualized revenue per employee is calculated by multiplying total net revenues by four and dividing by average employee count for a given quarter.

investors.robinhood.com 36

Robinhood Earnings Presentation Q3 2026

In Q3 2026, we recorded $60 million of contra revenues associated with matches on customer transfers and deposits and allocated them on a proportional basis

Customer Match Contra Revenue Allocation

Customer Match Amortization Detail

Customer Transfer and Contribution Matches

• The customer match program started in 2023, first with matches on IRA contributions in Q1 2023 and then with matches on asset transfers from other brokerages in Q4 2023.

• Since the start of the program through Q3 2026, we've provided customers with

  ~$1.19B of matches. This includes an additional $69M of matches in Q3 2026 (and customers also returned $10M of matches in Q3).

• In Q3 2026, we amortized $52M of matches. At the end of Q3 2026, we had

  ~$768M of unamortized matches remaining with a weighted average amortization of approximately 4 years.

  Gold Deposit Boosts

• The Gold deposit boost program started in June 2024, and we wound down the program in November of 2024.

• Since the start of the program, we have paid out $134M of Gold deposit boosts, including $7M in Q3.

• The majority of the remaining Gold deposit boosts earned by customers prior to the end of the program will be paid out over a period of ~2 months.

investors.robinhood.com 37

Robinhood Earnings Presentation Q3 2026

Net interest revenues were $415 million in Q3, down 9% year-over-year

In millions

Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Year-over-

year change

Sequential change

The following summarizes each revenue line item presented above and, where applicable, the types of assets generating the revenue.

1. Interest on corporate cash and investments - Interest earned on corporate cash and cash equivalents and investments.

2. Margin interest - Interest paid by customers on margin balances.

3. Interest on segregated cash and securities, and deposits - Interest earned on cash and securities segregated under federal and other regulations, which includes cash collateral for Margin Securities Lending program, and deposits with clearing organizations.

4. Cash sweep - Interest earned on off-balance sheet Cash Sweep balances.

5. Securities lending, net - Revenue from the Margin Securities Lending program and the Fully-Paid Securities Lending program (net of Fully-Paid Securities Lending revenue shared with participating customers).

6. Credit card, net - Primarily comprise interest earned on customer credit card loan balances net of interest paid to financing partners.

7. Interest expenses related to credit facilities - Interest payments related to Robinhood's credit facilities.

investors.robinhood.com 38

Robinhood Earnings Presentation Q3 2026

Total interest-earning assets were a record ~$77B at the end of Q3, and average yield increased by 8 bps sequentially

In millions, except for annualized yields

Margin Book

Cash and deposits(1)

Cash Sweep (off-balance sheet)

Credit card, net(2)

Total interest-earning assets

Securities lending, net

Interest expenses related to credit facilities(5)

Other

Total net interest revenues

1. Includes cash and cash equivalents, restricted cash, segregated cash, cash equivalents, and securities under federal and other regulations, deposits with clearing organizations, and investments.

2. Credit card, net consists of i) an off-balance sheet amount representing customer principal amounts funded by Coastal Bank under the Program Agreement. Under the Program Agreement, Robinhood Credit collects interest from customers that carry a balance and pays interest on the amount funded by Coastal Bank, with the difference between those amounts resulting in net interest revenue and ii) an on-balance sheet amount representing purchased credit card receivables by the Credit Card Funding Trust. Robinhood Credit collects interest from customers that carry balances and pays interest on the amount funded through the Credit Card Funding Trust, with the difference in those amounts resulting in net interest revenues. As of September 30, 2026, the off-balance sheet amount funded under the Program agreement was $196 million and the on-balance sheet amount was $1,645 million.

3. Average balance rows represent the simple average of month-end balances in a given period.

4. Annualized yield is calculated by annualizing revenue for the given period and dividing by the applicable average asset balance.

5. Includes interest expenses related to our revolving credit facilities; interest expense related to the Credit Card Funding Trust is included in the credit card, net interest yield calculation.

investors.robinhood.com 39

Robinhood Earnings Presentation Q3 2026

In Q3, interest-earning assets grew 19% year-over-year to a record $77 billion

$0.3

$0.4

$0.4

$0.6

$57

In billions

$0.7 $1.0 $1.1

$64 $62 $61

$1.5

$71

$1.8

$77

Year-over-year change

+19%

+148%

+59%

Sequential change

+7%

+26%

+2%

+9%

$20.4

+43%

$41 $44 $47

$26.1

$32.3

$29.7

$26.0

$32.8

$32.7

Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26¹ Q2'26 Q3'26

Cash Sweep (off-balance sheet) Cash and deposits² Margin Book Credit card, net³

Includes corporate cash, investments, and segregated cash

1. In February 2026, we updated our brokerage High-Yield Cash program to fund growth in margin lending, resulting in over $6 billion of Cash Sweep balances moving to Cash and Deposits in the form of customer free credit balances.

2. Includes cash and cash equivalents, restricted cash, segregated cash, cash equivalents, and securities under federal and other regulations, deposits with clearing organizations, and investments.

3. Credit card, net consists of i) an off-balance sheet amount representing customer principal amounts funded by Coastal Bank under the Program Agreement. Under the Program Agreement, Robinhood Credit collects interest from customers that carry a balance and pays interest on the amount funded by Coastal Bank, with the difference between those amounts resulting in net interest revenue and ii) an on-balance sheet amount representing purchased credit card receivables by the Credit Card Funding Trust. Robinhood Credit collects interest from customers that carry balances and pays interest on the amount funded through the Credit Card Funding Trust, with the difference in those amounts resulting in net interest revenues. As of September 30, 2026, the off-balance sheet amount funded under the Program agreement was $196 million and the on-balance sheet amount was $1,645 million.

investors.robinhood.com 40

Robinhood Earnings Presentation Q3 2026

Total securities lending revenue decreased by 38% year-over-year to $108 million in Q3, while Funded Customers enrolled in fully-paid securities lending increased by 30%

In millions, unless specified

Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Year-over-year

change

Sequential change

Total securities lending revenue (including interest on cash collateral that is partially

used to fund margin balances)

$173

$132

$92

$109

$108

(38%)

(1%)

Fully-Paid Securities Lending Metrics

1. Securities lending, net decreased year-over-year in Q3 2026 primarily due to reduced demand for hard-to-borrow securities.

investors.robinhood.com 41