Us Bancorp De (USB) Economic Moat Analysis—

Preuves

Wealth, Corporate, Commercial and Institutional Banking provides core banking, specialized lending, transaction and payment processing, capital markets, asset management, and brokerage and investment related services to wealth, middle market, large corporate, commercial real estate, government and institutional clients.

Business Segments — banking, transaction and payment services · Dépôt 23/02/2026

Bancorp $2,202 $2,177 $2,001 Diluted earnings per common share $1.34 $1.35 $1.22 Dividends declared per common share $.54 $.52 $.52 BALANCE SHEET(b) 3Q26 2Q26 3Q25 Average total loans $409,548 $405,481 $379,152 Average total deposits $526,602 $515,080 $511,782 Net charge-off ratio (%) .51 .53 .56 Book value per common share (period end) $38.27 $38.91 $36.33 Tangible book value per common share (period end)(a) $29.34 $30.04 $27.84 Basel III standardized CET1 (%)(c) 10.8 10.8 10.9 (a) See Non-GAAP Financial Measures reconciliation on page 16 $405,481 $379,152 Average total deposits $526,602 $515,080 $511,782 Net charge-off ratio (%) .51 .53 .56 Book value per common share (period end) $38.27 $38.91 $36.33 Tangible book value per common share (period end)(a) $29.34 $30.04 $27.84 Basel III standardized CET1 (%)(c) 10.8 10.8 10.9 (a) See Non-GAAP Financial Measures reconciliation on page 16

Third-quarter earnings and balance-sheet highlights · Dépôt 15/10/2026

U.S. Bank has launched two new small-business credit cards, Business Essentials and Business Essentials Plus, offering unlimited 2% cash back on eligible purchases and additional rewards for customers with qualifying business checking balances.

Business highlights — relationship-linked small-business card rewards · Dépôt 15/10/2026

Average noninterest-bearing deposits for the second quarter and the first six months of 2026 were $1.5 billion (1.9 percent) and $1.2 billion (1.5 percent) higher, respectively, than the same periods of 2025, driven by an increase in Wealth, Corporate, Commercial and Institutional Banking balances, partially offset by a decrease in Consumer and Business Banking balances.

Deposit analysis — average noninterest-bearing deposits · Dépôt 06/08/2026

Competition has also increased from companies that are not subject to the same regulatory restrictions as domestic banks and bank holding companies, including by financial technology companies, or “fintechs,” which may offer bank-like products or services that compete directly with the Company’s products and services.

Competition — nonbank regulatory differences · Dépôt 23/02/2026

Bancorp $175 $222 $264 $181 $255 FINANCIAL RATIOS Return on average assets 1.30 % 1.74 % 2.18 % 1.47 % 2.09 % Net interest margin (taxable-equivalent basis) 6.88 6.76 7.32 7.17 7.21 Efficiency ratio 55.7 62.4 59.3 60.1 57.3 17 PAYMENT SERVICES Preliminary data Three Months Ended (Dollars in Millions) (Unaudited) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 AVERAGE BALANCE SHEET Loans Commercial $7,721 $7,426 $6,541 $6,798 $6,750 Commercial real estate — — — — — Residential mortgages — — — — — Credit card 40,222 38,403 37,341 Residential mortgages — — — — — Credit card 3.29 3.83 3.96 3.84 3.80 Other retail 3.45 3.40 3.35 3.15 3.10 Total net charge-offs 2.77 % 3.21 % 3.38 % 3.25 % 3.20 % September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Nonperforming Assets Nonperforming loans $— $— $— $— $— Other nonperforming assets — — — — — Total nonperforming assets $— $— $— $— $— 18 PAYMENT SERVICES Preliminary data Three Months Ended (Dollars in Millions) (Unaudited) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 OTHER INFORMATION Noninterest Income Credit card $300 $295 $263 $291 $279 Corporate payment products and prepaid 261 247 217 217 220 Global merchant acquiring 461 485 436 440 463 Payment Volumes Credit card $42,024 $41,000 $36,999 $39,651 $38,581 Debit card(a) 28,360 28,312 26,072 26,894 26,327 Prepaid card 1,938 1,961 1,920 2,080 1,609 Corporate payment products 26,908 25,227 22,688 21,413 23,312 Merchant volume 157,098 155,934 145,093 145,144 157,540 Total 256,328 252,434 232,772 235,182 247,369 # of merchant transactions (millions) 2,305 2,259 2,049 2,195 2,305 (a) Debit card revenue is reported within the Consumer and Business Banking segment.

Payment Services — revenue, volumes and merchant transactions · Dépôt 15/10/2026

Banking and investment services are provided through a network of branches and banking offices across the United States, primarily in the Midwest and West regions, including 2,075 branches across 26 states as of December 31, 2025.

General Business Description — branch distribution · Dépôt 23/02/2026

•Average total loans increase of 8.0% on a year-over-year basis and 1.0% on a linked quarter basis Return on average assets (%) 1.25 1.26 1.17 Return on average common equity (%) 13.6 14.0 13.5 Return on tangible common equity (%)(a) 18.5 18.7 18.6 Net interest margin (%) 2.84 2.79 2.75 Efficiency ratio (%)(a) 55.9 57.1 57.2 INCOME STATEMENT(b) 3Q26 2Q26 3Q25 Net interest income (taxable-equivalent basis) $4,490 $4,387 $4,251 Noninterest income $3,480 $3,325 $3,078 Noninterest expense $4,493 $4,428 $4,197 Net income attributable to U.S.

Consolidated financial ratios and income-statement highlights · Dépôt 15/10/2026

Bancorp common shareholders, excluding notable items (q) ​ ​ ​ ​ 7,194 ​ ​ ​ ​ ​ 6,207 ​ ​ ​ Average diluted common shares outstanding (r) ​ ​ ​ ​ 1,558 ​ ​ ​ ​ ​ 1,561 ​ ​ ​ Diluted earnings per common share (p) / (r) ​ ​ ​ $ 4.62 ​ ​ ​ ​ $ 3.79 ​ ​ ​ Percentage change ​ ​ ​ ​ 22% ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per common share (q) / (r) ​ ​ ​ $ 4.62 ​ ​ ​ ​ $ 3.98 ​ ​ ​ Percentage change ​ ​ ​ ​ 16% ​ ​ ​ ​ ​ ​ ​ ​ ​ Net interest income ​ ​ ​ $ 16,649 ​ ​ ​ ​ $ 16,289 ​ ​ ​ Taxable-equivalent adjustment(3) ​ ​ ​ ​ 116 ​ ​ ​ ​ ​ 120 ​ ​ ​ Net interest income, on a taxable-equivalent basis ​ ​ ​ ​ 16,765 ​ ​ ​ ​ ​ 16,409 ​ ​ ​ Net interest income, on a taxable-equivalent basis (as calculated above) ​ ​ ​ ​ 16,765 ​ ​ ​ ​ ​ 16,409 ​ ​ ​ Noninterest income ​ ​ ​ ​ 11,891 ​ ​ ​ ​ ​ 11,046 ​ ​ ​ Less: Securities gains (losses), net ​ ​ ​ ​ (61) ​ ​ ​ ​ ​ (154) ​ ​ ​ Total net revenue, excluding net securities gains (losses) (s) ​ ​ ​ ​ 28,717 ​ ​ ​ ​ ​ 27,609 ​ ​ ​ Noninterest expense (t) ​ ​ ​ ​ 16,837 ​ ​ ​ ​ ​ 17,188 ​ ​ ​ Less: Notable items(4) ​ ​ ​ ​ — ​ ​ ​ ​ ​ 400 ​ ​ ​ Noninterest expense, excluding notable items (u) ​ ​ ​ ​ 16,837 ​ ​ ​ ​ ​ 16,788 ​ ​ ​ Efficiency ratio (t) / (s) ​ ​ ​ ​ 58.6% ​ ​ ​ ​ ​ 62.3% ​ ​ ​ Efficiency ratio, excluding notable items (u) / (s) ​ ​ ​ ​ 58.6% ​ ​ ​ ​ ​ 60.8% ​ ​ ​ 1.

Appendix — annual earnings and efficiency reconciliation · Dépôt 10/03/2026

The increase reflected the impact of the BTIG acquisition, higher compensation and employee benefits expense primarily due to merit increases, higher technology and communications expense related to investments in product and technology development, and increased marketing and business development initiatives, partially offset by lower other expense.

Noninterest expense — acquisition, compensation and technology costs · Dépôt 15/10/2026

Net interest income increased 5.6 percent on a taxable-equivalent basis, primarily due to loan growth, the impact of the small business credit card portfolio purchase and benefits from fixed asset repricing, while net interest margin increased to 2.84 percent from 2.75 percent.

Net interest income — growth, acquisition and repricing contributions · Dépôt 15/10/2026

Merchant processing services revenue increased due to favorable rates.

Noninterest Income — merchant pricing attribution · Dépôt 06/08/2026

Merchant processing services increased due to favorable rates, while card revenue increased due to higher credit card sales volume.

Noninterest Income — first-quarter merchant rates and card volume · Dépôt 04/05/2026

Business Essentials has no annual fee and can earn up to 2.5% total cash back, while the $295-annual-fee Plus card can earn up to 3.5% and automatically provides 5% cash back on the cardholder’s top spending category, subject to an annual limit.

Business highlights — annual fees and card rewards · Dépôt 15/10/2026

These laws, rules and policies include, for example, statutory maximum legal lending rates, domestic monetary policies of the Board of Governors of the Federal Reserve System (the “Federal Reserve”), United States fiscal policy, international currency regulations and monetary policies and capital adequacy and liquidity constraints imposed by bank regulatory agencies.

Supervision and Regulation — lending-rate and other statutory constraints · Dépôt 23/02/2026

The Company manages its interest rate risk position by holding assets with desired interest rate risk characteristics on its balance sheet, executing certain pricing strategies for loans and deposits and deploying investment portfolio, funding and derivative strategies.

Interest Rate Risk Management — loan and deposit pricing strategies · Dépôt 06/08/2026

•The Company returned $1.0 billion and $2.1 billion of earnings to shareholders in the second quarter of 2026 and the first six months of 2026, respectively, through dividends and share repurchases.

Capital Management — actual dividends and repurchases · Dépôt 06/08/2026

Bancorp $ 2,985 $ 2,397 $ 1,159 $ 1,154 $ 497 $ 494 $ (519) $ (521) $ 4,122 $ 3,524 Average Balance Sheet Loans $ 208,980 $ 183,872 $ 144,100 $ 151,702 $ 44,980 $ 41,917 $ 1,493 $ 1,286 $ 399,553 $ 378,777 Other earning assets 15,747 13,538 2,530 3,335 6 31 208,759 216,113 227,042 233,017 Goodwill 4,928 4,825 4,326 4,326 3,480 3,409 — — 12,734 12,560 Other intangible assets 663 840 3,912 4,322 240 254 6 8 4,821 5,424 Assets 262,350 232,532 157,044 165,877 50,096 47,338 222,024 225,631 691,514 671,378 Noninterest-bearing deposits 57,837 55,581 18,507 19,502 2,407 2,527 1,869 1,795 80,620 79,405 Interest-bearing deposits 228,924 216,457 205,082 199,628 93 95 381 9,117 434,480 425,297 Total deposits 286,761 272,038 223,589 219,130 2,500 2,622 2,250 10,912 515,100 504,702 Total U.S.

Business segment table — consolidated first-half attributable earnings · Dépôt 06/08/2026

In February 2025, consistent with the historical structure of our long-term incentive program, 60% of the value of each executive officer’s annual long-term incentive award was granted in the form of PRSUs that will cliff vest (if earned) on the third anniversary of the grant date, following a three-year performance period, and 40% was granted in the form of RSUs that vest ratably over three years from the date of grant.

Compensation discussion — actual February 2025 equity grants · Dépôt 10/03/2026

The number of PRSUs earned will be between 0% and 150% of target based on the company’s absolute and relative ROTCE performance and a relative TSR modifier during the performance period, as set forth in the applicable award agreements.

Executive compensation — PRSU performance conditions · Dépôt 10/03/2026

The PRSUs granted in 2023 were earned at 113.4% of the NEOs’ respective target amounts, based on absolute and relative return on equity (ROE) results for the 2023-2025 performance period.

Compensation discussion — completed 2023–2025 award performance · Dépôt 10/03/2026

TABLE OF CONTENTS​​​​ Hedging and pledging policy The company’s Insider Trading Policy prohibits executive officers and directors of the company from hedging shares of the company’s common stock, including, but not limited to, using short sales, puts, calls, prepaid variable forwards, equity swaps, collars and exchange funds.

Compensation policies — prohibition on executive and director hedging · Dépôt 10/03/2026

​ ​ Role of Lead Independent Director ​ ​ ​ ​ The independent directors entrust the Lead Independent Director with the following well-defined and robust responsibilities and authority: ▶ Board leadership ​ – lead executive sessions of the Board’s independent or non-management directors, and preside at any session of the Board where the Chairman is not present; ​ – have authority to call special Board meetings or special meetings of the independent directors; ​ ▶ Board culture ​ – act as a regular communication channel between the independent directors and the CEO, providing advice and feedback from the Board; ​ – act as a “sounding board” and advisor to the CEO; ​ – interview all Board candidates and make recommendations to the Governance Committee; ​ ▶ Board performance ​ – advise the CEO on the Board’s information needs, including recommendations for Board meeting topics and materials that reflect consultation with the other non-management directors and that are sufficient in scope, detail and analysis to enable the Board to make sound, well-informed decisions and consider potential risks, advise on Board communications to address various matters that may arise between Board meetings, and review and approve the Board meeting agendas; ​ – review Board meeting schedules to ensure there is sufficient time for discussion of all agenda items; ​ – approve, on behalf of the Board, the retention of consultants who report directly to the Board; ​ – promote the efficient and effective performance and functioning of the Board by facilitating corporate governance best practices and compliance with our company’s Corporate Governance Guidelines; ​ – advise the independent Board committee chairs in fulfilling their designated roles and responsibilities to the Board; ​ ▶ Shareholders and other stakeholders ​ – review communications from shareholders and other stakeholders that are addressed to the full Board or to the Lead Independent Director; ​ – as appropriate, be the representative of the independent directors in discussions with our major shareholders regarding their concerns and expectations, and with other key stakeholders at the request of the Board; and ​ – communicate with our banking regulators, at their request, regarding the Board’s oversight of management and our company.

Corporate governance — Lead Independent Director authority · Dépôt 10/03/2026

No director is allowed to participate in the deliberations or vote on the approval or ratification of a transaction if that director is a related person with respect to the transaction under review.

Related person transactions — director recusal · Dépôt 10/03/2026

The Risk Management Committee considers quarterly reports by management assessing the Company’s performance relative to the risk appetite statements and the associated risk limits, including: •Macroeconomic environment and other qualitative considerations, such as regulatory and compliance changes, litigation developments, geopolitical events, and technology and cybersecurity; •Credit measures, including adversely rated and nonperforming loans, leveraged transactions, credit concentrations and lending limits; •Interest rate and market risk, including market value and net income simulation, and trading-related Value at Risk (“VaR”); •Liquidity risk, including funding projections under various stressed scenarios; •Operational and compliance risk, including losses stemming from events such as fraud, processing errors, control breaches, breaches in data security or adverse business decisions, as well as reporting on technology performance, and various legal and regulatory compliance measures; •Capital ratios and projections, including regulatory measures and stressed scenarios; and •Strategic and reputation risk considerations, impacts and responses.

Corporate Risk Profile — quarterly Board risk reporting · Dépôt 06/08/2026

2 U.S. Bancorp Third Quarter 2026 Results NET INTEREST INCOME (Taxable-equivalent basis; $ in millions) Change 3Q 2026 2Q 2026 3Q 2025 3Q26 vs 2Q26 3Q26 vs 3Q25 YTD 2026 YTD 2025 Change Components of net interest income Income on earning assets $ 7,796 $ 7,624 $ 7,831 $ 172 $ (35) $ 22,855 $ 23,010 $ (155) Expense on interest-bearing liabilities 3,306 3,237 3,580 69 (274) 9,687 10,557 Common equity tier 1 capital $55,023 $53,575 $52,648 $51,665 $50,587 Tier 1 capital 62,267 60,802 59,899 58,917 57,839 Total risk-based capital 72,844 71,429 69,163 68,087 66,820 Common equity tier 1 capital ratio 10.8 % 10.8 % 10.8 % 10.8 % 10.9 % Tier 1 capital ratio 12.3 12.2 12.3 12.3 12.4 Total risk-based capital ratio 14.3 14.4 14.2 14.2 14.4 Leverage ratio 9.0 8.9 8.8 8.7 8.6 Common equity to assets 8.5 8.4 8.4 8.4 8.1 Tangible common equity to tangible assets(a) 6.6 6.6 6.7 6.7 6.4 Tangible common equity to risk-weighted assets(a) 9.0 9.4 9.4 9.4 9.3 (a)See Non-GAAP Financial Measures reconciliation on page 16.

Capital position — regulatory capital ratios · Dépôt 15/10/2026

All regulatory capital ratios continue to be in excess of “well-capitalized” requirements.

Capital position — regulatory compliance · Dépôt 15/10/2026

6 United States banking organizations are also subject to a minimum tier 1 leverage ratio of 4.0 percent.

Capital Requirements — minimum Tier 1 leverage ratio · Dépôt 23/02/2026

Under the Tailoring Rules and NSFR rule, the Company and USBNA, as Category III banking organizations with less than $75 billion of weighted short-term wholesale funding, qualify for reduced LCR and NSFR requirements calibrated at 85 percent of the full requirements.

Basel III Liquidity Requirements — Category III calibration · Dépôt 23/02/2026

For the three months ended June 30, 2026 and December 31, 2025, the Company’s average daily LCR was 107.6 percent and 106.5 percent, respectively.

Liquidity Risk Management — average daily LCR · Dépôt 06/08/2026

The Company was compliant with this requirement at June 30, 2026 and December 31, 2025.

Liquidity Risk Management — NSFR compliance · Dépôt 06/08/2026

CONSOLIDATED ENDING BALANCE SHEET Cash and due from banks $49,523 $66,491 $48,420 $46,890 $66,637 Investment securities Held-to-maturity 72,923 74,085 75,442 76,170 76,931 Available-for-sale 80,228 89,085 93,464 90,838 89,065 Loans held for sale 2,426 3,038 2,928 2,538 2,490 70,872 63,793 Total assets $702,966 $725,918 $700,998 $692,345 $695,357 Liabilities and Shareholders' Equity Deposits Noninterest-bearing $85,596 $85,791 $85,300 $84,116 $91,550 Interest-bearing 446,109 446,275 442,878 438,100 434,599 Total deposits 531,705 532,066 528,178 522,216 526,149 Short-term borrowings 21,044 37,337 17,859 17,162 15,449 Long-term debt 51,996 58,671 61,361 60,764 62,535 Other liabilities 31,333 29,949 27,353 26,552 27,426 Total liabilities 636,078 658,023 634,751 626,694 631,559 Shareholders' equity Preferred stock 6,808 6,808 6,808 6,808 6,808 Common stock Capital surplus 8,839 8,773 8,623 8,728 8,745 Retained earnings 84,503 83,241 81,944 80,906 79,742 Less treasury stock (24,284) (24,300) (24,387) (24,283) (24,228) Accumulated other comprehensive income (loss) (9,462) (7,111) (7,223) (6,987) (7,748) Total U.S.

Consolidated ending balance sheet — funding, cash and accumulated comprehensive loss · Dépôt 15/10/2026

Treasury and agencies 649 3.00 648 3.00 Mortgage-backed securities(a) 73,155 63,696 8.1 2.35 75,235 66,146 8.0 281 283 2.65 289 2.63 Total held-to-maturity 74,085 64,622

Investment Securities — held-to-maturity amortized cost and fair value · Dépôt 06/08/2026

As of June 30, 2026, the Company maintains a relatively neutral interest rate profile to a parallel 50 basis point shift in interest rates as asset repricing continues to align closely with liability repricing.

Interest Rate Risk Management — modeled 50-basis-point sensitivity · Dépôt 06/08/2026

Under more significant rate shock scenarios, certain assets and liabilities, particularly mortgage assets and deposit products, are expected to exhibit non-linear behavior, resulting in varying impacts to net interest income.

Interest Rate Risk Management — larger-shock nonlinearity · Dépôt 06/08/2026

ALLOWANCE FOR CREDIT LOSSES %(a) %(a) 1Q 2026 %(a) 4Q 2025 %(a) %(a) Balance, beginning of period $7,979 $7,977 $7,947 $7,897 $7,862 Allowance for acquired credit losses Net charge-offs Commercial .24 117 .29 .07 Lease financing .45 .45 .37 .46 .65 Total commercial 121 .30 .09 Commercial mortgages .39 1.07 1.09 1.24 Residential mortgages .36 .38 .38 Credit card 1.10 1.13 1.29 1.27 Other retail .46 .46 .50 .49 Total loans .49 .50 .58 .61 .64 ASSET QUALITY(a) Sep 30 2026 Jun 30 2026 Mar 31 2026 Dec 31 2025 Sep 30 2025 Nonperforming loans Commercial $407 $377 $622 $695 $708 Lease financing Total commercial 432 402 717 733 Commercial mortgages 538 504 Construction and development Total commercial real estate 568 522 579 Residential mortgages 176 171 159 151 Credit card Other retail 158 162 159 161 Total nonperforming loans 1,284 1,303 1,488 1,547 1,610 Other real estate Other nonperforming assets Total nonperforming assets $1,324 $1,346 $1,528 $1,590 $1,654 Accruing loans 90 days or more past due $743 $735 $847 $853 $840 Nonperforming assets to loans plus ORE (%) .32 .38 .41 .43 (a) Throughout this document, nonperforming assets and related ratios do not include accruing loans 90 days or more past due COMMON SHARES (Millions) 1Q 2026 4Q 2025 Beginning shares outstanding Shares issued for stock incentive plans,

Asset quality — consolidated and portfolio nonperforming assets · Dépôt 15/10/2026

Bancorp common shareholders $2,095 $2,098 $1,841 $1,965 $1,893 Earnings per common share $1.34 $1.35 $1.18 $1.26 $1.22 Diluted earnings per common share $1.34 $1.35 $1.18 $1.26 $1.22 Dividends declared per common share $.54 $.52 $.52 $.52 $.52 Average common shares outstanding 1,558 1,554 1,554 1,555 1,557 Average diluted common shares outstanding 1,559 1,555 1,555 1,556 1,557 Financial Ratios (%) Net interest margin (taxable-equivalent basis) Investment products fees 116 102 97 101 97 Securities gains (losses), net — — — — — Other 143 114 79 74 77 Total noninterest income 2,026 1,834 1,607 1,614 1,572 Total net revenue 3,997 3,765 3,473 3,405 3,333 Noninterest Expense Compensation and employee benefits 734 666 587 571 565 Other intangibles 52 44 40 46 46 Net shared services 624 618 609 625 623 Other direct expenses 344 290 253 289 261 Total noninterest expense 1,754 1,618 1,489 1,531 1,495 Income before provision and income taxes 2,243 2,147 1,984 1,874 1,838 Provision for Credit Losses 112 129 65 157 196 Income before income taxes 2,131 2,018 1,919 1,717 1,642 Income taxes and taxable-equivalent adjustment 533 505 480 429 411 Net income 1,598 1,513 1,439 1,288 1,231 Net (income) loss attributable to noncontrolling interests — — — — — Net income attributable to U.S.

Consolidated results — common earnings, dividends and diluted shares · Dépôt 15/10/2026

Compensation and employee benefits expense also increased in the second quarter of 2026, compared with the second quarter of 2025, due to higher stock-based compensation expense.

Noninterest Expense — increased stock-based compensation · Dépôt 06/08/2026

BTIG acquisition On June 1, 2026, the Company acquired BTIG for a purchase price consisting of approximately $395 million of cash and 6.6 million shares of the Company’s common stock paid on the closing date, with up to an additional $275 million of cash consideration to be paid over the next three years, subject to achievement of defined performance targets.

BTIG acquisition — completed transaction consideration and contingent payments · Dépôt 06/08/2026

•Completed the acquisition of BTIG, reflecting approximately $98 million in fee revenue and $84 million of noninterest expense Return on average assets (%) 1.26 1.15 1.08 Return on average common equity (%) 14.0 12.6 12.9 Return on tangible common equity (%)(a) 18.7 17.0 18.0 Net interest margin (%) 2.79 2.77 2.66 Efficiency ratio (%)(a) 57.1 58.2 59.2 INCOME STATEMENT(b) 2Q26 1Q26 2Q25 Net interest income (taxable-equivalent basis) $4,387 $4,291 $4,080 Noninterest income $3,325 $2,997 $2,924 Noninterest expense $4,428 $4,265 $4,181 Net income attributable to U.S.

Second-quarter highlights — initial BTIG revenue and expense contribution · Dépôt 16/07/2026

We reported a full quarter of BTIG results, which drove an increase of 69.3% year-over-year in capital markets revenue.

CEO commentary — attribution of capital-markets growth to BTIG · Dépôt 15/10/2026

The provision for credit losses increased compared with the third quarter of 2025, primarily due to the impact of recording the initial provision for credit losses related to the purchase of the small business credit card portfolio.

Payment Services — initial credit provision on purchased card portfolio · Dépôt 15/10/2026

Total net revenue decreased compared with the third quarter of 2025, driven by lower net interest income, primarily due to lower interest-bearing deposits with banks and investment securities balances, partially offset by lower funding costs and benefits from fixed asset repricing, as well as lower noninterest income driven by losses on the sales of investment securities.

Treasury and Corporate Support — securities-sale losses · Dépôt 15/10/2026

3 Competition is based on a number of factors including, among others, customer service, quality and range of products and services offered, price, reputation, interest rates on loans and deposits, lending limits, experience, relationships and customer convenience, including the ability to address customer needs by using technology to provide products and services that customers want to adopt.

Competition — price, relationships, service and convenience · Dépôt 23/02/2026

Conducted on the Stellar blockchain, the pilot showed the bank can move value on-chain while maintaining integration with its existing finance, risk, compliance and operations infrastructure.

Business highlights — stablecoin pilot · Dépôt 15/10/2026

Looking ahead, U.S. Bank is exploring applications including liquidity management, collateral mobility and cross-border treasury operations, with the initiative representing another step in its broader digital asset strategy to use blockchain technology to improve efficiency, transparency and settlement speed while maintaining the safety, security and reliability expected by clients.

Business highlights — prospective digital-asset applications · Dépôt 15/10/2026

Bancorp to Gunjan Kedia following our annual meeting and assumed the role of Executive Chairman of the Board of Directors, and it is with great confidence that we add the Chairman responsibilities to her Chief Executive Officer role at our 2026 annual meeting of shareholders.

Board leadership — planned combination of chair and CEO responsibilities · Dépôt 10/03/2026

— Gunjan Kedia, Chairman and CEO, U.S.

CEO commentary attribution — Chairman and CEO · Dépôt 15/10/2026

Financial performance for the first six months of 2026, compared with the first six months of 2025, included the following: •Diluted earnings per common share of $2.53 in the first six months of 2026, representing an 18.2 percent increase compared with the first six months of 2025; •Net interest income increased $481 million (5.9 percent) primarily due to loan growth, improved earning asset mix, and fixed asset repricing; •Noninterest income increased $562 million (9.8 percent) driven by higher revenue across most categories and the contribution from the BTIG acquisition; •Noninterest expense increased $280 million (3.3 percent), reflecting the impact of the BTIG acquisition, higher technology and communications expense, higher marketing and business development expense and higher compensation and employee benefits expense; •Average loans increased $20.8 billion (5.5 percent) driven by higher commercial loans, credit card loans and commercial real estate loans; and •Average deposits increased $10.4 billion (2.1 percent), driven by an increase in savings account balances, partially offset by a decrease in time deposits.

First-half financial performance — revenue, expenses and deposits · Dépôt 06/08/2026

Historique des publications

Sources

• filing-1 · Dépôt 23/02/2026
• filing-2 · Dépôt 06/08/2026
• filing-3 · Dépôt 10/03/2026
• filing-4 · Dépôt 21/02/2025
• filing-5 · Dépôt 20/02/2024
• filing-6 · Dépôt 04/05/2026
• filing-7 · Dépôt 15/10/2026
• filing-8 · Dépôt 15/10/2026
• filing-9 · Dépôt 16/07/2026
• filing-10 · Dépôt 16/07/2026
• filing-11 · Dépôt 16/04/2026
• filing-12 · Dépôt 16/04/2026