Financial Performance - Total revenue reached $3.8 billion, representing a 16% year-over-year increase[4][10] - Fee revenue grew 15% year-over-year to $3.0 billion, while net interest income rose 17% to $835 million[4][10] - Diluted earnings per share (EPS) increased 39% year-over-year to $2.84 on an ex-notables basis[4][6] - Pre-tax margin stood at 29.0% with a return on average tangible common equity (ROTCE) of 20.1%[4][6] Business Momentum and Operations - Investment Services achieved a record assets under custody and/or administration (AUC/A) of $54.5 trillion[4][16] - Investment Management reported $5.6 trillion in assets under management (AUM) with $49 billion in total net inflows[4][19] - Foreign exchange trading services revenue rose 29% year-over-year to $435 million, driven by record trading volumes[4][27][29] - Software services revenue increased 7% year-over-year to $169 million, supported by a 24% growth in professional services[4][34][36] Capital and Liquidity - Total capital return to shareholders reached $633 million, resulting in a 90% payout ratio[4][54] - Standardized Common Equity Tier 1 (CET1) ratio was reported at 10.6% at quarter-end[4][47][54]

Financial Performance - Net income available to common shareholders reached $539 million for the first quarter of 2026[4] - Total revenue was reported at $1,873 million, with a diluted earnings per share of $0.62[4] - Return on average tangible common equity stood at 18.26%[4] - Net interest income (NII) decreased 2.6% quarter-over-quarter to $1,248 million, with a net interest margin (NIM) of 3.67%[14][21] Loan and Deposit Trends - Average loan balances grew 1% quarter-over-quarter, with expectations for full-year 2026 average loan growth in the low single digits[8] - Average deposit balances increased modestly, with total deposit costs declining to 1.20%[10][12] - Full-year 2026 NII is projected to grow between 2.5% and 4% compared to 2025[23][54] Asset Quality and Capital - Net charge-offs decreased by 5 basis points to 0.54% of average loans[4][43] - The allowance for credit losses (ACL) ratio declined to 1.68%[42][43] - The Common Equity Tier 1 (CET1) ratio, inclusive of AOCI, is estimated at 9.4%[50][53]

Financial Performance - GAAP net income attributable to common shareholders reached $291 million in 1Q 2026, while Adjusted EPS stood at $1.11[10] - Adjusted total net revenue for the quarter was $2.179 billion, reflecting a steady performance compared to previous periods[10] - Core ROTCE reached 11.1% in 1Q 2026, maintaining consistency with the prior quarter[10] - Adjusted efficiency ratio remained stable at 50.8%[10] Business Segment Highlights - Auto Finance segment generated $336 million in pre-tax income, with consumer originations totaling $11.5 billion, a 13% increase year-over-year[41][46] - Insurance segment reported $28 million in pre-tax income and $87 million in core pre-tax income, with written premiums of $389 million[50][54] - Corporate Finance segment achieved $94 million in pre-tax income, supported by $13.7 billion in held-for-investment balances[57][64] Capital and Asset Quality - CET1 ratio was 10.1% in 1Q 2026, providing $4.7 billion of capital above the Federal Reserve Board requirement of 7.1%[26] - Consolidated net charge-off rate was 1.21% in 1Q 2026, showing a 15bps improvement year-over-year[28] - Retail deposit balances remained strong at $146 billion, supported by 68 consecutive quarters of customer growth[16]

Financial Performance - Autoliv achieved record first-quarter sales of $2.753 billion, representing a year-over-year increase from $2.578 billion[11, 12, 44] - Adjusted operating income reached $245 million, compared to $255 million in the same period last year, with an adjusted operating margin of 8.9%[12, 44] - The company paid a dividend of $0.87 per share, totaling a $65 million payout to shareholders[10, 44] - Adjusted earnings per share (EPS) on a diluted basis was $2.05, compared to $2.15 in the first quarter of 2025[44, 92] Market Growth and Regional Dynamics - Sales to Chinese OEMs increased by nearly 30%, driven by recent product launches[10] - India emerged as a key contributor to growth, supported by a strong local manufacturing footprint[10, 30] - Global light vehicle production (LVP) experienced a decline of 3.4% during the quarter[20, 44] - The company outperformed global LVP by 4 percentage points in terms of organic sales growth[27] Operational and Strategic Outlook - The full-year 2026 guidance maintains an adjusted operating margin target of approximately 10.5% to 11% and operating cash flow of around $1.2 billion[78] - Autoliv expanded its safety portfolio by launching the first commercially ready airbag specifically developed for commuter scooters[9, 10] - The net debt to EBITDA leverage ratio remained at 1.3x, staying below the long-term target limit of 1.5x[66, 89]

Financial Data and Key Metrics Changes - In Q1 2026, total net sales were EUR 8.8 billion, aligning with guidance. Net system sales reached EUR 6.3 billion, with over EUR 4.1 billion from EUV system sales and over EUR 2.1 billion from non-EUV system sales [5][6] - Gross margin for Q1 was at 53%, at the high end of guidance, primarily due to high-margin components in the installed base business [5][6] - Net income for Q1 was EUR 2.8 billion, representing 31.4% of total net sales, resulting in earnings per share of EUR 7.15 [6] - Q1 free cash flow was -EUR 2.6 billion, mainly due to the timing of down payments [6] - For Q2 2026, total net sales are expected to be between EUR 8.4 billion and EUR 9 billion, with gross margin anticipated between 51% and 52% [7][12] Business Line Data and Key Metrics Changes - Net system sales were split almost equally between logic (49%) and memory (51%) [5] - Installed base management sales for Q1 were EUR 2.5 billion, slightly above guidance [5] - The company expects installed base management revenue to grow significantly in 2026, driven by service revenue from the expanding EUV installed base [12] Market Data and Key Metrics Changes - The semiconductor industry growth outlook is solidifying, driven by AI-related infrastructure investments, increasing demand for advanced logic and memory chips [9][10] - Memory customers have confirmed they are sold out for the remainder of the year, with supply limitations expected to persist beyond 2026 [9] - Logic customers are adding capacity across multiple advanced nodes, with expectations of supply limitations beyond 2026 [10] Company Strategy and Development Direction - The company is executing a capacity expansion plan for 2026, aiming for at least 60 Low-NA EUV systems and increasing the move rates for HBM products [11] - The 2026 revenue guidance has been updated to between EUR 36 billion and EUR 40 billion, with a gross margin expectation between 51% and 53% [12] - The company is focusing on productivity upgrades for installed bases to meet short-term output requirements [10][11] Management's Comments on Operating Environment and Future Outlook - Management noted that demand continues to outpace supply, creating constraints across end markets, which drives customers to aggressively add capacity [9] - The company sees a strong year ahead and expects growth in 2026, supported by significant investments from customers [11] - Management emphasized the importance of ongoing discussions with customers to align capacity needs and ensure timely delivery [10][11] Other Important Information - ASML paid a third interim dividend of EUR 1.60 per ordinary share in Q1 2026 and intends to declare a total dividend of EUR 7.50 per ordinary share for 2025, a 17% increase compared to 2024 [7][8] - The company is making progress on technology, including improvements in Low-NA EUV productivity and advancements in High-NA systems [13][16] Q&A Session Summary Question: Updated 2026 revenue guidance and its sources - The increase in immersion outlook is primarily from non-China customers, with China expected to remain around 20% [19] Question: Gross margin guidance stability despite increased immersion - The gross margin guidance remains unchanged due to increased costs associated with hiring and ramping up production [21] Question: Customer visibility and growth profile for 2027 and 2028 - Discussions with customers are primarily focused on 2026, with some movement towards 2027, but 2028 is still too far to predict [26][27] Question: DUV capacity needs in relation to EUV tools - The company believes current DUV capacity is sufficient, with demand scaling alongside EUV [50] Question: Pricing model and customer behavior changes - Customers are more open about their expansion plans, but the company's pricing model is based on the value provided rather than market pressures [92][94]

ASML reports €8.8 billion total net sales and €2.8 billion net income in Q1 2026 ASML now expects 2026 total net sales to be between €36 billion and €40 billion, with a gross margin between 51% and 53% ASML 2026 first-quarter results Veldhoven, the Netherlands April 15, 2026 Agenda April 15, 2026 Page 2 Public • Investor key messages • Business summary • Outlook • Financial statements Investor key messages April 15, 2026 Page 3 Investor key messages1 April 15, 2026 Page 4 1 Investor key messages as presente ...

Financial Data and Key Metrics Changes - The company reported a net income of $5.8 billion for Q1 2026, with an EPS of $3.06 and an ROTCE of 13.1% [4][16] - Total revenues increased by 14% year-over-year, driven by strong performance across core businesses [4][16] - The CET1 ratio stood at 12.7%, which is 110 basis points above the regulatory capital requirement [8][21] Business Line Data and Key Metrics Changes - Services revenue increased by 17%, with a net income of $2.2 billion and an ROTCE of 27% [22][23] - Markets revenue reached over $7 billion, up 19%, with equities growing nearly 40% [5][24] - Banking revenues rose by 15%, driven by investment banking and corporate lending, with M&A fees up 19% [25] - Wealth management revenues increased by 11%, with a pre-tax margin of 18% [26] Market Data and Key Metrics Changes - Cross-border transactions in Services were up 12%, and assets under custody and administration increased by over 20% [4][22] - The U.S. Consumer Cards segment saw a revenue growth of 4%, with spend volume up 5% [7][29] Company Strategy and Development Direction - The company is focused on organic growth across all five business lines, emphasizing the importance of deepening client relationships and new product innovations [42][44] - The firm is in the final phase of divestitures, including exiting from Russia and selling additional stakes in Banamex [9][10] - The company is deploying AI at scale to enhance client experiences and drive revenue growth [10] Management's Comments on Operating Environment and Future Outlook - Management noted that the global macroeconomic environment remains uncertain, with inflation posing risks to growth [10][11] - The company aims to achieve a ROTCE of 10%-11% for the year, despite a strong first quarter [11][64] - Management expressed confidence in the firm's ability to navigate challenges and continue delivering strong results [11][64] Other Important Information - The company repurchased $6.3 billion in shares as part of its capital return strategy [7][21] - The firm is actively advocating for changes in the new capital regime to better reflect its current risk profile [8][69] Q&A Session Summary Question: Insights on Services growth and BlackRock win - Management highlighted exceptional performance in Services, with a 17% revenue increase and a focus on client acquisition and product innovation [39] Question: Retail banking aspirations - Management clarified that the focus is solely on organic growth, with a strong deposit base and targeted urban market presence [44][42] Question: Clarity on organic growth strategy - Management reiterated that there are no plans for acquisitions, emphasizing a commitment to organic growth [46][47] Question: Transformation progress and consent order - Management stated that 90% of transformation programs are complete, with remaining work focused on data used in regulatory reporting [49][50] Question: Basel and GSIB proposals impact - Management expects a moderate net benefit from the new Basel and GSIB proposals, with a focus on risk management and capital allocation [53][54] Question: Efficiency ratio targets - Management discussed maintaining a target efficiency ratio of around 60%, balancing seasonality and targeted investments [56][59] Question: Capital leverage and buybacks - Management indicated that the CET1 ratio is at a desired level, with plans for continued capital deployment and buybacks [65][66]

Financial Data and Key Metrics Changes - The company reported a net income of $5.8 billion for Q1 2026, with an EPS of $3.06 and an ROTCE of 13.1% [4][16] - Total revenues increased by 14% year-over-year, driven by strong performance across core businesses [4][16] - The CET1 ratio stood at 12.7%, which is 110 basis points above the regulatory capital requirement [8][21] Business Line Data and Key Metrics Changes - Services revenue increased by 17%, with a notable 40% growth in new client mandates [4][22] - Markets achieved revenues of over $7 billion, with equities up nearly 40% and fixed income up 13% [5][24] - Banking revenues rose by 15%, driven by a 12% increase in investment banking fees [25] - Wealth management revenues grew by 11%, with Citigold and Retail Banking up 13% [6][26] - U.S. Consumer Cards saw a revenue growth of 4%, with a ROTCE of 19% [7][29] Market Data and Key Metrics Changes - Cross-border transactions in Services increased by 12% [4][22] - Average deposits in Services grew by 16%, reflecting strong client engagement [22] - The corporate exposure remains 78% investment grade, with low non-accrual loans [20] Company Strategy and Development Direction - The company is focused on organic growth across all five business lines, emphasizing a diversified model for consistent revenue growth [11][42] - Continued investment in technology and AI is a priority to enhance client experiences and operational efficiency [10][12] - The firm is in the final phase of divestitures, including the exit from Russia and the sale of Banamex [9][19] Management's Comments on Operating Environment and Future Outlook - Management noted that the macroeconomic environment remains uncertain, with inflation posing risks to growth [10][11] - The company aims to deliver a ROTCE of 10%-11% for the year, despite a strong first quarter [11][66] - Management expressed confidence in the firm's resilience and ability to navigate various economic conditions [11][14] Other Important Information - The company repurchased $6.3 billion in shares as part of its capital return strategy [7][21] - The transformation programs are nearing completion, with 90% of initiatives at or near target state [9][51] Q&A Session Summary Question: Insights on Services growth and BlackRock win - Management highlighted exceptional performance in Services, driven by client acquisition and product innovation, including a significant win with BlackRock [39][40] Question: Retail banking aspirations - Management clarified that the focus is solely on organic growth, with a strong retail banking presence in affluent markets [42][44] Question: Clarity on organic growth strategy - Management reiterated that there are no plans for acquisitions, emphasizing a commitment to organic growth [46][47] Question: Transformation progress and consent order - Management stated that 90% of transformation work is complete, with remaining tasks focused on data for regulatory reporting [50][51] Question: Basel and G-SIB proposals impact - Management expects a moderate net benefit from the new Basel and G-SIB proposals, with a focus on risk management and capital efficiency [54][56] Question: Efficiency ratio targets - Management discussed maintaining a target efficiency ratio of around 60%, balancing seasonality and investments [59][60] Question: Concerns about ROTCE sustainability - Management acknowledged that the first quarter is typically strong and emphasized the importance of continued investment for sustainable growth [65][66] Question: Private credit exposure and risk management - Management expressed confidence in their private credit portfolio, highlighting rigorous risk management and stress testing practices [79][80]

Financial Data and Key Metrics Changes - Diluted earnings per share increased by 15% year-over-year, with revenue growing by 6% [5] - Loans grew by 11% and deposits increased by 7% compared to the previous year [5] - Net interest income rose by 5% year-over-year, while non-interest income increased by 8% [5][32] - Pre-tax, pre-provision profit grew by 14% from a year ago, indicating effective expense management [6] Business Line Data and Key Metrics Changes - Consumer Banking and Lending revenue grew by 7%, while Commercial Banking revenue also increased by 7% [5] - Corporate and Investment Bank saw an 11% increase in Banking revenue and a 19% increase in Markets revenue [6] - Wealth and Investment Management revenue grew by 14%, with client assets increasing by 11% to $2.2 trillion [10] Market Data and Key Metrics Changes - Average loans and deposits in Commercial Banking grew by approximately $5 billion in the first quarter [11] - The company reported strong growth in auto originations, which more than doubled from a year ago [9] - Client sentiment remains cautious but engaged amid macroeconomic uncertainties [12] Company Strategy and Development Direction - The company is focusing on accelerating growth and improving returns after closing outstanding consent orders [8] - Investments in technology, including AI, and advertising are prioritized to drive growth [6] - The company aims to maintain a strong capital position while returning capital to shareholders, having repurchased $4 billion in common stock [8][37] Management's Comments on Operating Environment and Future Outlook - The U.S. labor market is cooling, but consumer spending remains resilient, supported by higher income households [13] - The company is monitoring economic indicators closely, anticipating potential impacts from rising energy prices [15] - Management expresses confidence in the company's ability to navigate various economic scenarios and support customers [16] Other Important Information - The company has successfully exited or sold 12 businesses since 2019 to refocus and simplify operations [12] - The net charge-off ratio remained stable at 45 basis points, indicating strong credit performance [6][34] - The company expects to maintain a CET1 ratio of 10.3%, well above regulatory minimums [37] Q&A Session Summary Question: Impact of new regulatory proposals on RWA - Management indicated a 7% decline in risk-weighted assets primarily driven by credit risk improvements, particularly for investment-grade credits [47][49] Question: Outlook for NIM and ROTCE - Management acknowledged ongoing NIM compression but remains confident in achieving a ROTCE of 17%-18% over time, supported by growth in various business segments [50][84] Question: Credit performance and risk management - Management reassured that a recent fraud incident was isolated and that overall credit performance remains strong, with no significant deterioration observed [68][70] Question: Lending momentum and customer behavior - Management noted that while lending momentum has been strong, there has not been a significant increase in revolver utilization, indicating cautious behavior from clients [76]

Financial Data and Key Metrics Changes - Diluted earnings per share increased by 15% year-over-year, with revenue growing by 6% [5] - Loans grew by 11% and deposits increased by 7% compared to the previous year [5] - Net interest income rose by 5% year-over-year, while non-interest income increased by 8% [5][19] - Pre-tax, pre-provision profit grew by 14% from a year ago, indicating effective expense management [6] Business Line Data and Key Metrics Changes - Consumer Banking and Lending revenue grew by 7%, while Commercial Banking revenue also increased by 7% [5] - Corporate and Investment Bank saw an 11% increase in Banking revenue and a 19% increase in Markets revenue [6] - Wealth and Investment Management revenue grew by 14%, with client assets increasing by 11% to $2.2 trillion [10] Market Data and Key Metrics Changes - Average loans and deposits both grew by approximately $5 billion in the first quarter, demonstrating accelerating momentum in Commercial Banking [11] - The outlook for investment banking remains strong, with a robust pipeline driven by M&A and equity capital markets [12] Company Strategy and Development Direction - The company is focusing on accelerating growth and improving returns after closing its final outstanding consent order, marking a significant milestone [8] - Investments in technology, including AI, and advertising are prioritized to drive growth while maintaining expense discipline [6] - The company aims to deepen relationships with clients through the growth of interest-bearing deposits, particularly in commercial businesses [42] Management's Comments on Operating Environment and Future Outlook - The U.S. labor market is cooling, but consumer spending remains resilient, supported by higher income households [13][14] - The company is cautious about potential economic impacts from rising energy prices but feels confident in its credit management capabilities [15][16] - Management expects continued revenue growth and is optimistic about achieving stronger results across all business lines [18] Other Important Information - The company returned $5.4 billion to shareholders in the first quarter, including $4 billion in common stock repurchases [8] - The CET1 ratio stands at 10.3%, well above the regulatory minimum, indicating a strong capital position [37] Q&A Session Summary Question: Impact of new regulatory proposals on RWA - The estimated impact is a 7% decline in RWA, primarily driven by credit risk improvements, particularly for investment-grade credits [47][49] Question: Outlook for NIM and ROTCE - NIM compression is expected to weigh on ROA, but management believes ROTCE can still reach 17%-18% with growth in the markets business [50][52] Question: Credit performance and risk management - A recent fraud incident was isolated, and extensive reviews have been conducted to ensure the integrity of the portfolio [68] Question: Lending momentum and customer behavior - Current lending growth is driven by new clients and non-bank financial space, with no significant increase in revolver utilization yet [76]