Raymond James Financial Reports Fiscal Fourth Quarter and

• Domestic Private Client Group net new asset(1) growth of 9.0% for the fiscal year and 8.3% annualized for the fiscal fourth quarter
• Record quarterly net revenues of $2.83 billion, up 5% over the prior year’s fiscal fourth quarter and 4% over the preceding quarter
• Quarterly net income available to common shareholders of $437 million, or $1.98 per diluted share, and quarterly adjusted net income available to common shareholders of $459 million(2), or $2.08 per diluted share(2)
• Record annual net revenues of $11.0 billion, record annual net income available to common shareholders of $1.51 billion, or $6.98 per diluted share, and record annual adjusted net income available to common shareholders of $1.62 billion(2), or $7.49 per diluted share(2)
• Client assets under administration of $1.09 trillion and financial assets under management of $173.8 billion
• Record net loans in the Bank segment of $43.2 billion, up 73% over September 2021 and 3% over June 2022
• Net interest income and Raymond James Bank Deposit Program (“RJBDP”) fees from third-party banks of $606 million during the quarter, up 206% over the prior year’s fiscal fourth quarter and 64% over the preceding quarter
• Annualized return on common equity for the quarter of 18.7% and annualized adjusted return on tangible common equity for the quarter of 24.1%(2)

Raymond James Financial, Inc. (NYSE: RJF) today reported net revenues of $2.83 billion and net income available to common shareholders of $437 million, or $1.98 per diluted share, for the fiscal fourth quarter ended September 30, 2022. Excluding $30 million of expenses related to acquisitions, quarterly adjusted net income available to common shareholders was $459 million(2), or $2.08 per diluted share(2).

Quarterly net revenues grew 5% over the prior year’s fiscal fourth quarter and 4% over the preceding quarter, largely driven by the benefit of higher short-term interest rates on net…