A Sincere Thank You

November 15, 2024 Walter W. Bettinger II

It has been an honor serving you as CEO for the last 16 years.

As 2024 comes to a close, I'd like to take this opportunity to express my sincere gratitude to you for being a Schwab client. We're honored you've entrusted us with your business, and we will continue to do our very best every day to live up to your expectations.

I also want to thank you for the honor of serving you as CEO for the past 16 years. Not a day has gone by that I haven't felt a deep appreciation for the privilege of leading this extraordinary company Chuck Schwab founded more than 50 years ago. Since I became CEO in 2008, your trust and confidence have allowed the assets we serve to grow from $1.1 trillion to almost $10 trillion, and we have increased the number of brokerage, banking, and workplace participant client accounts from about 9 million to more than 43 million.

Effective January 1, 2025, I will be transitioning to executive co-chairman of the board of directors at Schwab, serving alongside Chuck. Rick Wurster, our president since 2021, will become our next CEO. Rick is an exceptionally talented executive and a special person, and I'm very confident he will serve you well in the coming years.

Sincerely,

Walt Bettinger

Chief Executive Officer & Co-Chairman

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All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.

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