Q4 Earnings Conference Call January 20, 2026 Pri m ar y & se co nd ar y br an d co lor s Data viz colors Data viz monochromatic Legal Disclaimers This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management's beliefs, assumptions, current expectations, estimates and projections about BOK Financial Corporation, the financial services industry, and the economy generally. Words such as "anticipates," "believes," "e ...

Fourth Quarter 2025 Earnings Conference Call January 20, 2026 Safe Harbor Statement Statements in this presentation which are not historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include discussions of the strategic plans and objectives or anticipated future performance and ...

January 2026 Investor Presentation Forward-Looking Statements This presentation contains statements or information that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipates," "intends," "plans," "goal," "seeks," "believes," "projects," "estimates," "expects," "indicates," "strategy," "future," "is likely," "may," "should," "will," and variations of such words and simil ...

4Q25 Earnings Presentation Management does not provide a reconciliation for forward-looking non-GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of the Bancorp's control or cannot be reasonably predicted. For the same reas ...

2025 Fourth Quarter Investor Teleconference January 20, 2026 1 Safe Harbor Statement All statements made herein that are not historical facts (e.g., future operating results, net sales growth, long-term share gains, and business activity, as well as expectations regarding operations, including gross and operating income margin, eBusiness DSR sales growth, weighted FMI technology signings, operating costs (including SG&A), capital expenditures, sales through our digital footprint, cash flow generation, our a ...

J a n u a r y 2 0 , 2 0 2 6 U.S. Bancorp 4Q25 Earnings Conference Call ©2025 U.S. Bank | Confidential 1 Forward-looking Statements and Additional Information The following information appears in accordance with the Private Securities Litigation Reform Act of 1995: This presentation contains forward-looking statements about U.S. Bancorp. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements and are based on the information ava ...

Financial Data and Key Metrics Changes - The company reported fourth quarter earnings of $0.43 per share, with revenue exceeding $2 billion, growing 12% year-over-year on an adjusted basis, while expenses grew by 2% [3][15] - Full-year record revenue increased by 16% compared to the prior year, with net interest income and fee revenue both exceeding projections [5][15] - The fourth quarter net interest margin (NIM) was 2.82%, an increase of 7 basis points sequentially, above the previously indicated target of 2.75%-2.8% [20][25] Business Line Data and Key Metrics Changes - Loan growth was particularly strong in commercial and industrial (C&I) loans, which grew by 9%, while consumer loans were intentionally reduced [5][18] - Fee income growth was 7.5%, with all priority fee-based businesses growing at a high single or low double-digit rate [5][15] - Investment banking fees increased by 10% year-over-year, driven by debt capital markets and commercial mortgage debt placement activity [20][22] Market Data and Key Metrics Changes - The company raised nearly $140 billion of capital on behalf of clients in 2025, retaining 20% on its balance sheet [9] - Assets under management in wealth management reached a record $70 billion, with significant growth in the mass affluent segment [9][22] - Commercial payments fee-equivalent revenue grew by 11% in 2025, reflecting successful investments in bankers and new geographies [10] Company Strategy and Development Direction - The company aims to achieve a 15%-plus return on tangible common equity by year-end 2027, focusing on organic growth in middle market, payments, investment banking, and wealth management [8][29] - Investments in technology have increased from $900 million to $1 billion, with a focus on enhancing customer-facing capabilities and operational efficiency [6][31] - The company plans to repurchase at least $300 million of stock in the first quarter of 2026 and anticipates similar amounts in subsequent quarters [4][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering another year of outsized revenue and earnings growth, supported by favorable macro conditions and strong business momentum [8][11] - The company expects to continue growing priority fee-based businesses at a mid to high single-digit pace, capitalizing on strong pipelines [8][11] - Management noted that the current environment plays well to the company's strengths, with expectations for improved middle market M&A activity in 2026 [9][11] Other Important Information - The company announced changes to its board, nominating two new directors with extensive experience in financial services [12][13] - The lead independent director role transitioned to Todd Vassos, with a focus on strong corporate governance and long-term shareholder value [12][13] Q&A Session Summary Question: What are the strategic priorities for 2026? - The company is focused on organic growth in middle market, payments, investment banking, and wealth management, with significant investments in technology and talent [28][29] Question: Why is the investment banking fee guidance conservative? - The company is cautious due to limited visibility beyond the first quarter, despite recent improvements in middle market M&A activity [32][33] Question: What are the expectations for loan growth and banker productivity? - The company anticipates continued hiring and expects new bankers to contribute to growth, with optimism about the market conditions [34][36] Question: What is the outlook for net interest margin and earning assets? - The company expects to see a bottoming out of earning assets, with a gradual increase throughout the year, driven by a remixing of loan types [40][41] Question: What is the appetite for bank acquisitions? - The company remains focused on organic growth and technology investments rather than pursuing bank acquisitions, despite board changes [46][49]

Corvus Pharmaceuticals Conference Call Summary Company Overview - **Company**: Corvus Pharmaceuticals (NasdaqGM:CRVS) - **Date**: January 20, 2026 - **Key Executives Present**: Dr. Richard Miller (CEO), Leif Lea (CFO), Jeff Arcara (CBO), Dr. Ben Jones (SVP, Pharmaceutical Development), Dr. Suresh Mahabhashyam (VP, Clinical Development) [2][3] Core Industry and Product Focus - **Industry**: Pharmaceuticals, specifically focusing on immune diseases and atopic dermatitis - **Product**: Socalitinib, a first-in-class oral drug targeting interleukin-2 inducible T-cell kinase (ITK) [4][39] Key Findings and Data from Clinical Trials - **Phase I Clinical Trial Results**: - Socalitinib shows potential as a leading therapy for atopic dermatitis, achieving significant clinical results [5][6] - Efficacy metrics: - EASI 75: 75% of patients - EASI 90: 25% of patients - IGA 0/1: 33% of patients - Mean percent reduction in EASI score: 72% at eight weeks [6][24] - Responses are durable, with continued reduction in EASI scores post-treatment [6][21] - **Cohort 4 Specifics**: - 24 patients enrolled with a one-to-one randomization of active versus placebo - Treatment duration extended to eight weeks, confirming positive results from earlier cohorts [18][24] - EASI score reduction: 72% for Socalitinib vs. 40% for placebo, p-value of 0.035 [24][26] - **Prior Systemic Therapy**: - 35% of all patients had prior therapies, with 50% in cohort 4 - Socalitinib demonstrated efficacy in patients with prior systemic therapy, indicating no resistance [27][30] Mechanism of Action - Socalitinib selectively inhibits ITK, leading to a rebalancing of the immune system without causing immunosuppression [9][10] - Induction of T regulatory cells (Tregs) contributes to durable suppression of inflammation [21][30] Market Opportunity - Over 3 million patients with moderate to severe atopic dermatitis, with a significant unmet need for safe and effective oral therapies [15][38] - The market for atopic dermatitis is projected to grow to $170 billion by 2030, with oral agents expected to gain a larger share [38] Future Plans - Initiation of a phase 2 randomized placebo-controlled trial in atopic dermatitis, planned to enroll 200 patients [37][39] - Exploration of Socalitinib's efficacy in other immune diseases, including hidradenitis suppurativa and asthma [39] Safety Profile - No new safety signals observed in cohort 4; adverse events (AEs) were similar between active and placebo groups [31][55] - Historical data from lymphoma studies indicate a strong safety profile, with no patients discontinuing due to safety concerns [54][55] Conclusion - Socalitinib is positioned as a promising treatment for atopic dermatitis and potentially other immune diseases, with a strong clinical efficacy and safety profile [39][40]

2025 Fourth Quarter Earnings (unaudited) Bill Brown Anurag Maheshwari Chief Financial Officer Chinmay Trivedi Senior Vice President, Investor Relations and Financial Planning & Analysis Chairman and CEO Forward-looking statements This document contains forward-looking statements. You can identify these statements by the use of words such as "plan," "expect," "aim," "believe," "project," "target," "anticipate," "intend," "estimate," "will," "should," "could," "would," "forecast," "future," "outlook," "guidan ...

Investor Presentation Q1 2026 63% $368.3K 84% % FIRST-TIME HOMEBUYERS AVERAGE SALES PRICE HOME SALES REVENUE who used DHI Mortgage of homes closed from the sale of single-family Forward-Looking Statements This presentation may include "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Although D.R. Horton believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Factors that may ...