PIPER SANDLER COMPANIES

For the period ended Jun 30, 2026. Filed Aug 5, 2026.

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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.

Jun 30, 2026 · Filed Aug 5, 2026

PIPR$67.64+2.6%Stored close · as of Nov 9, 2026

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Earnings Per Share

NOTE 17| 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, adjusted to reflect the impact of the Stock Split, is as follows:

Three Months Ended · Six Months Ended
	June 30,		June 30,
(Amounts in thousands, except per share data)	2026	2025	2026	2025
Net income attributable to Piper Sandler Companies	$67,845	$42,182	$133,087	$107,097
Shares for basic and diluted calculations
Average shares used in basic computation	67,698	66,812	67,769	66,166
Stock options	198	205	201	235
Restricted stock units	538	580	483	567
Restricted shares	2,807	3,305	2,784	4,062
Average shares used in diluted computation	71,241	70,903	71,237	71,030
Earnings per common share
Basic	$1.00	$0.63	$1.96	$1.62
Diluted	$0.95	$0.59	$1.87	$1.51

The anti-dilutive effects from restricted shares were immaterial for the three and six months ended June 30, 2026 and 2025.

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