Schwab Announces Redemption of All Outstanding Depositary Shares Representing Interests in Its 4.000% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I

WESTLAKE, Texas--(BUSINESS WIRE)--The Charles Schwab Corporation (“CSC”) today announced that, on June 1, 2026, it will redeem all of the 20,554 outstanding shares of its 4.000% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I (“Series I Preferred Stock”, CUSIP 808513BK0), and the corresponding 2,055,433 depositary shares (“Depositary Shares”), each representing a 1/100^th interest in a share of the Series I Preferred Stock. The Depositary Shares will be redeemed at a redemption price of $1,000 per Depositary Share.

The redemption price does not include the regular quarterly dividend that was declared and will be paid separately in the customary manner on June 1, 2026 to holders of record at the close of business on May 15, 2026.

The Depositary Shares are held in book-entry form through the Depository Trust Company (“DTC”) and will be redeemed in accordance with the procedures of DTC. Payment to DTC for the Depositary Shares will be made by Equiniti Trust Company as redemption agent. The address for Equiniti Trust Company is 1110 Centre Pointe Curve, Suite 101, Mendota Heights, Minnesota 55120-4100, Attention: Corporate Actions.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 39.1 million active brokerage accounts, 5.8 million workplace plan participant accounts, 2.3 million banking accounts, and $11.77 trillion in client assets. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, https://www.sipc.org), and its affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services™. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com.