American Express

(c) Issuer Purchases of Securities

The table below sets forth the information with respect to purchases of our common stock made by or on behalf of us during the three months ended December 31, 2025.

A table reflects the range of macroeconomic scenario key variables as of December 31, 2025 and 2024 used with other inputs to calculate reserves.

AMERICAN EXPRESS Q2 2026 RESULTS

Those factors include, but are not limited to, the following:

•the company’s ability to achieve its 2026 earnings per common share (EPS) guidance and grow EPS in the future consistent with its growth aspiration, which will depend in part on revenue growth, credit performance, credit reserve and expense levels and the effective tax rate remaining consistent with current expectations and the company’s ability to continue investing in growth initiatives (such as its brand, value propositions, coverage, marketing, technology, partnerships and talent), controlling operating expenses, effectively managing risk and executing its share repurchase program, any of which could be impacted by, among other things, the factors identified in the subsequent paragraphs and the Form 8-K Cautionary Note, as well as the following: macroeconomic and geopolitical conditions, including a slowdown in U.S. or global economic growth, changes to consumer and business confidence, higher rates of unemployment and wide-scale layoffs, impacts from the Middle East conflict and other international hostilities, deteriorations in global trade and the effects of announced or future tariffs, changes in interest rates, inflation, supply chain issues, energy costs, market volatility, and fiscal and monetary policies; the effects of technology changes and the adoption of artificial intelligence (AI); the impact of any future contingencies, including, but not limited to, legal costs and settlements, the imposition of fines or monetary penalties, increases in Card Member remediation, investment gains or losses, restructurings, impairments and changes in reserves; issues impacting brand perceptions and the company’s reputation; changes in the competitive environment and an inability to realize benefits from new and extended sponsorships; impacts related to acquisitions, divestitures, cobrand relationships and other partners; and the impact of regulation and litigation, which could affect the profitability of the company’s business activities, limit the company’s ability to pursue business opportunities, require changes to business practices or alter the company’s relationships with Card Members, partners and merchants;

•the company’s ability to achieve its 2026 revenue growth guidance and grow revenues net of interest expense in the future consistent with its growth aspiration, which could be impacted by, among other things, the factors identified above, in the subsequent paragraphs and in the Form 8-K Cautionary Note, as well as the following: spending volumes not being consistent with expectations, including spending by U.S. and international consumer Card Members across age cohorts (including Millennial and Gen-Z customers) and business Card Members and dining, airline and other travel & entertainment spending volumes, such as due to uncertain macroeconomic and geopolitical conditions; an inability to address competitive pressures, attract and retain customers, invest in and enhance the company’s Membership Model of premium products, differentiated services and partnerships, successfully refresh card products and introduce new features and capabilities, grow banking relationships with customers and implement strategies and business initiatives, including within the premium consumer space, commercial payments and the global network; the impacts of portfolio sales; the effects of regulatory initiatives, including pricing regulation, such as pricing for card acceptance and interest rate and fee caps, and network regulation; merchant coverage growing less than expected or the reduction of merchant acceptance or perceptions of coverage; increased surcharging, steering, suppression or other differential acceptance practices with respect to the company’s products; merchant discount rates changing from the company’s expectations; and changes in foreign currency exchange rates;

•the actual amount the company spends on growth initiatives in 2026 and beyond and the effectiveness of the investments, which will be based in part on business performance, contingencies and changes in the macroeconomic and competitive environment, including the levels of demand for the company’s products; management’s ability to balance expense control and investments in the business, develop new capabilities, features and value propositions, effectively utilize artificial intelligence, enhance our digital channels and platforms, and drive customer demand; and management’s identification and assessment of attractive investment opportunities and its decisions regarding the timing of investments; and

•the company’s ability to satisfy the closing conditions related to its proposed acquisition of TheFork, including completion of a labor consultation process and receipt of regulatory approvals, and consummate the transaction; the underlying assumptions related to the transaction proving to be inaccurate or unrealized; and the company’s ability to integrate TheFork and benefit from and expand its platform, tools and capabilities, which will depend in part on management’s decisions regarding future operations, strategies and business initiatives.

AXP: capital expenditure for the year ending 31 December 2025 was $2,425,000,000.00.

AXP: consolidated diluted earnings per share for the quarter ending 30 June 2026 was $4.53.