Investor Presentaiton

Reconciliation of non-GAAP financial measures to GAAP financial measures We utilize certain non-GAAP financial measures as additional measures to aid in, and enhance, the understanding of our financial results and related measures. These non-GAAP financial measures have been separately identified in this document. We believe certain of these non-GAAP financial measures provides useful information to management and investors by excluding certain material items that may not be indicative of our core operating results. We utilize these non-GAAP financial measures in assessing the financial performance of the business, as they facilitate a comparison of current- and prior-period results. We believe that return on tangible common equity and tangible book value per share are meaningful to investors as they facilitate comparisons of our results to the results of other companies. In the following tables, the tax effect of non-GAAP adjustments reflects the statutory rate associated with each non-GAAP item. These non-GAAP financial measures should be considered in addition to, and not as a substitute for, measures of financial performance prepared in accordance with GAAP. In addition, our non-GAAP financial measures may not be comparable to similarly titled non-GAAP financial measures of other companies. The following tables provide a reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures. $ in millions, except per share amounts Net income (1) Non-GAAP adjustments: Acquisition and disposition-related expenses (2) Losses on extinguishment of debt (3) Jay Peak settlement (4) Reduction in workforce expenses (5) Goodwill impairment (6) Six months ended March 31, 2021 March 31, 2022 $ 667 $ 769 September 30, 2016 $ 529 September 30, 2017 $ 636 Twelve months ended September 30, 2018 $ 857 September 30, 2019 $ 1,034 September 30, 2020 $ September 30, 2021 818 $ 1,403 2 17 41 18 46 20 130 4 15 19 98 I 19 Pre-tax impact of non-GAAP adjustments 17 61 194 4 34 Tax effect of non-GAAP adjustments Impact of the tax act (7) དྨེ། (21) (62) (1) (13) 46 ➢ ' ' ལྦ 'ཆྱེ 53 117 (28) 105 Total non-GAAP adjustments, net of tax 2 13 40 132 108 34 40 89 Adjusted net income $ 669 782 569 $ 768 $ 965 1,068 $ 858 $ 1,492 Pre-tax income (1) $ 846 $ 991 $ 801 $ 925 $ 1,311 $ 1,375 $ 1,052 $ 1,791 Pre-tax impact of non-GAAP adjustments (as detailed above) Adjusted pre-tax income 2 اله 17 61 194 4 34 53 117 $ 848 $ 1,008 $ 862 $ 1,119 $ 1,315 $ 1,409 $ 1,105 $ 1,908 Pre-tax margin (8) Adjusted pre-tax margin (8) 18.4% 18.5% 18.2% 14.8% 14.5% 18.0% 17.8% 13.2% 18.4% 18.5% 15.9% 17.6% 18.1% 18.2% 13.8% 19.5% 94 Continued on next slide RAYMOND JAMES

View entire presentation