SCHW M&A Announcement Presentation

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Announcing Schwab’s Acquisition of Forge Global November 6, 2025 Further Democratizing Public & Private Markets for Investors

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Charles Schwab Corporation 2 Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, specifically relating to timing, completion and funding of the acquisition; investor interest in private markets; plans for expansion of private market capabilities and access; competitive positioning and organic growth; and acquisition synergies, financial impact and revenue diversification. These forward-looking statements reflect management’s beliefs, expectations and objectives as of today and are subject to risks and uncertainties that could cause actual results to differ materially. Important factors that could cause results to differ include management’s ability to close the transaction on the anticipated terms and timing; required regulatory approvals and approval by Forge’s stockholders; disruptions to Forge’s business as a result of the announcement and pendency of the acquisition; and the ability and timeframe to integrate the business and realize the anticipated benefits. Additional risks and uncertainties that could affect future results are discussed in the company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which have been filed with the Securities and Exchange Commission and are available on the company’s website (https://www.aboutschwab.com/financial-reports) and on the Securities and Exchange Commission’s website (www.sec.gov). The information in this presentation speaks only as of November 6, 2025 (or such earlier date as may be specified herein). The company makes no commitment to update any forward-looking statements.

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3 Schwab Management Attendees Charles Schwab Corporation Rick Wurster President and CEO Mike Verdeschi Managing Director, CFO

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Acquisition creates a best-in-class experience for individual investors and RIAs across public and private markets. Charles Schwab Corporation 4 #1 in RIA Custodial Assets in Retail Trading1 #1 in Total Client Assets for Publicly Reported Peers#1 Private Market Transaction Volume2$17B+ Note: RIA = Registered investment advisor. M = Million. B = Billion. 1. Retail trading defined as leader in daily average trades amongst our publicly traded peers as of 11/4/2025. 2. Based on historical transaction data from inception through September 30, 2025. 3. Represents unique users across custody and registered marketplace activity as of September 30, 2025. Private Companies Traded Via Platform2625+ Unique Users3 3M+

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Forge is a pioneer in democratizing access to private company markets while prioritizing an issuer-friendly model. Charles Schwab Corporation 5  Founded in 2014, Forge operates a technology-enabled marketplace for trading shares in pre-IPO companies  Platform is a leading private secondary marketplace with high volume trading activity and an extensive issuer network  Connects qualified investors and shareholders, enabling liquidity with an issuer-friendly model  Supports both direct and indirect transactions, including growing line-up of fund products Trading Data Custody Asset Mgmt. Employee Headcount ~400 By the Numbers1 Private Asset AUC $18B+ Unique Users 3M+ Transaction Volume $17B+ Note: Q = Quarter. M = Million. B = Billion. Mgmt. = Management. 1. As of September 30, 2025. 2. Total gross revenue per Forge’s form 10-Q through June 30, 2025. Total Revenue, 2Q24 – 2Q25 ($M)2 $22.3 $19.2 $18.6 $25.3 $27.7 2Q24 3Q24 4Q24 1Q25 2Q25 +24%

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Private markets momentum is driven by industry trends and increasing investor interest beyond publicly-traded securities. Charles Schwab Corporation 6 Over the past 20+ years, industry trends have supported value creation outside public markets. Companies waiting over twice as long before going public1 # of IPOs per year has declined by ~85% since 20001 Median IPO valuations are up more than 3x versus 20001 Note: T = Trillion. E = Estimated. CAGR = Compound annual growth rate. VC = Venture capital. IPO = Initial public offering. 1. Jay R. Ritter, (2025, July 2). Initial Public Offerings: Updated Statistics, 1980 – 2024, Table 4 and Table 4e, University of Florida. 2. Deloitte, Private Capital Investing – Financial Services Predictions 2025, 2024. 3. Bain & Company, Prequin, GlobalData 2023. 4. Based on Pitchbook data; represents estimated total value of venture-backed private companies globally. 5. Value of shares estimated to be addressable. Investor allocations to alternative asset classes is expected to grow in the years ahead,… …with private market transactions positioned to gain a meaningful share of activity over time. $4T $13T 2022 2032E +13% CAGR Private wealth capital allocated to alternatives expected to reach ~$13T by 20323 Series A/B Series C Series D/E Series F+ ~$9T VC-backed Private Firm Valuations4 Approximately 20% of global value is estimated to be tradeable5

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Incorporating Forge’s private market capabilities builds upon Schwab’s legacy of client-focused innovation,… Charles Schwab Corporation 7 Announces acquisition of Forge Chuck Schwab creates discount brokerage Strategic investments Launch Retail Alternatives Platform Expand 24/5 trading to all clients 2025 2025 Today 2025 1975 Introduces Schwab Trading Powered by AmeritradeTM 2023 24/7 client services 1982 Online trading 1996 Affordable investment advice 2006 Schwab Bank 2003 Schwab Personalized Indexing® & Thematic® 2022 $0 Equity & ETF Commissions 2019 Satisfaction Guarantee 2017 Schwab Intelligent Portfolios® 2015 Note: ETF = Exchange traded fund.

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…while further enhancing our ability to meet the evolving needs of investors across our growing client base. Charles Schwab Corporation 8 Retail1, 2 Advisor Services1 Workplace3 Offering private market capabilities will support organic growth and help diversify revenue through-the-cycle. $5.4T Client Assets Differentiated end-to-end workplace solution that widens growth funnel Asset Management Private Company Solutions Private Marketplace Data + Technology Custody Services Education + Awareness Note: M = Million. T = Trillion. HHs = Households. 1. All data as of September 30, 2025. 2. Largest component of Investor Services segment which had total assets of $6.6T of assets as of September 30, 2025. 3. Announced Schwab Private Issuer Equity Services in October 2025; solution to be powered by Qapita. HHs Assets $1M+ < $1M Client Profile Mix (%) $5.0T Client Assets HHs Assets $1M+ < $1M Client Profile Mix (%) Schwab Private Issuer Equity Services

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While the initial roll-out will focus on UHNW investors, we expect to expand private market capabilities to all qualified Schwab Retail, RIA, and Stock Plan Services clients over time. Charles Schwab Corporation 9 Immediate Near-term Medium-term  Roll-out to select UHNW investors  Launch ’40 Act fund  Continue to enhance experience and servicing  Expand access to $1M+ retail clients  Roll-out RIA experience  Expand fund offerings  Deepen integration with existing infrastructure  Broaden retail access to all qualified investors  Enhanced Stock Plan Services capabilities  Launch additional proprietary solutions  Fully integrated experience Note: M = Million. UHNW = Ultra high-net worth. RIA = Registered Investment Advisor.

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Transaction Summary Charles Schwab Corporation 10 Price and Consideration Closing Mechanics Synergy Opportunities Expected Financial Impact  Acquire all outstanding common stock for $45 per share  Implied equity value of $660 million  100% cash consideration1  Subject to customary closing conditions and regulatory reviews  Expect transaction to close during 1H 2026  Revenue synergies via increased client engagement in private markets, including asset management  Longer-term stock plan opportunity  Modest expense saves  No material impact to near-term financial results  Meaningful revenue upside over time as utilization of private market solutions increases Note: 1H = 1st half. 1. The merger agreement provides that certain of Forge's equity awards will be assumed and converted into Schwab equity awards in lieu of cash consideration.

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Acquisition creates a best-in-class experience for individual investors and RIAs across public and private markets. Charles Schwab Corporation 11  Enhances competitive positioning  Supports long-term organic growth  Evolves our offer to retail and RIA clients  Strengthens our Workplace Services solution set  Diversifies our revenue mix through-the-cycle Note: RIA = Registered investment advisor.

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Q&A 12Charles Schwab Corporation  Enhances competitive positioning  Supports long-term organic growth  Evolves our offer to retail and RIA clients  Strengthens our Workplace Services solution set  Diversifies our revenue mix through-the-cycle Note: RIA = Registered investment advisor.

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