PIPER SANDLER COMPANIES

For the period ended Sep 30, 2024. Filed Nov 7, 2024.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 7, 2024

PIPR$65.92-1.8%Stored close · as of Nov 6, 2026

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Contents

Earnings Per Share

NOTE 18| EARNINGS PER SHARE ("EPS")

Basic earnings per common share is computed by dividing net income attributable to Piper Sandler Companies by the weighted average number of common shares outstanding for the period. Diluted earnings per common share is calculated by adjusting the weighted average outstanding shares to assume conversion of all potentially dilutive stock options, restricted stock units and restricted shares. The Company uses the treasury stock method to calculate diluted earnings per common share.

The computation of EPS is as follows:

Three Months Ended · Nine Months Ended
	September 30,		September 30,
(Amounts in thousands, except per share data)	2024	2023	2024	2023
Net income attributable to Piper Sandler Companies	$34,789	$3,878	$112,055	$33,466
Shares for basic and diluted calculations
Average shares used in basic computation	15,921	15,105	15,767	14,895
Stock options	65	26	48	24
Restricted stock units	190	167	180	155
Restricted shares	1,594	1,959	1,641	2,103
Average shares used in diluted computation	17,769	17,256	17,636	17,176
Earnings per common share
Basic	$2.19	$0.26	$7.11	$2.25
Diluted	$1.96	$0.22	$6.35	$1.95

The anti-dilutive effects from stock options and restricted shares were immaterial for the three and nine months ended September 30, 2024 and 2023.

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