Jefferies Global Bank Valuation Comps 29/06/2026

Research evidence excerpt

Jefferies Global Bank Valuation Comps 29/06/2026

Banks

Equity Research

June 30, 2026

may prevent us from doing so. Aside from certain industry reports published on a periodic basis, the large majority of reports are published at irregular intervals

as appropriate in the analyst's judgement.

Investment Recommendation Record

(Article 3(1)e and Article 7 of MAR)

Recommendation Published June 29, 2026 13:22 P.M.

Recommendation Distributed June 29, 2026 19:00 P.M.

Company Specific Disclosures

Steven DeSanctis owns shares of Bank of America common shares.

Jonathan Pierce has long equity holdings in Invesco AT1 Capital Bond GBP HDG DIST and Invesco AT1 Capital Bond UCITS DIST

Recipients located in Brazil should be aware that this communication is intended exclusively for institutional or professional investors The views expressed

herein reflect the personal opinions of the analyst who is based outside of Brazil and is not registered with the Brazilian Securities Exchange Commission CVM

This communication does not constitute an offer or solicitation to buy or sell any security nor does it represent a public distribution of research in Brazil

The Analyst has visited the material operations of Element Fleet Management Corp. The issuer has paid or reimbursed some or all of the Analyst's travel

expenses with respect to that visit

The Analyst has visited the material operations of IGM Financial

Steven DeSanctis owns shares of JPMorgan Chase common stock.

Nick Dalton owns unvested shares of Macquarie Group Limited

The Analyst has visited the material operations of Toronto-Dominion Bank.

Jefferies Financial Group Inc., its affiliates or subsidiaries make a market in the securities or ADRs of Barclays PLC.