What changed in this filing

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Item 1. Financial Statements

2026-05-06 compared with 2025-11-05 · 339 added, 427 removed, 788 unchanged (49% of the section changed)

1 unchanged sentence

Condensed Consolidated Financial Statements (Unaudited) Page

Condensed Consolidated Statements of Financial Condition as of September 30, 2025 and December 31, 2024

Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2025 and 2024

Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2025 and 2024

Condensed Consolidated Statements of Changes in Equity for the three and nine months ended September 30, 2025 and 2024

Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2025 and 2024

Condensed Consolidated Statements of Financial Condition as of March 31, 202 6 and December 31, 202 5

Condensed Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025

Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2026 and 2025

Condensed Consolidated Statements of Changes in Equity for the three months ended March 31, 2026 and 2025

Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 202 6 and 202 5

Notes to Unaudited Condensed Consolidated Financial Statements

2 unchanged sentences

(dollars in thousands, except share data)

September 30, 2025 December 31, 2024

March 31, 2026 December 31, 2025

Current Assets

Cash and Cash Equivalents $ 985,987 $ 1,426,020

Investment Securities and Certificates of Deposit (includes available-for-sale debt securities with an amortized cost of $ 716,614 and $ 813,507 at September 30, 2025 and December 31, 2024, respectively)

Investment Securities and Certificates of Deposit (includes available-for-sale debt securities with an amortized cost of $ 877,606 at December 31, 2025)

1,035,030 1,580,638

Accounts Receivable (net of allowances of $ 2,164 and $ 2,253 at September 30, 2025 and December 31, 2024, respectively)

Accounts Receivable (net of allowances of $ 2,810 and $ 2,983 at March 31, 2026 and December 31, 2025, respectively)

546,568 555,812

5 unchanged sentences

Operating Lease Right-of-Use Assets 448,973 457,152

Furniture, Equipment and Leasehold Improvements (net of accumulated depreciation and amortization of $ 166,598 and $ 151,455 at September 30, 2025 and December 31, 2024, respectively)

Furniture, Equipment and Leasehold Improvements (net of accumulated depreciation and amortization of $ 176,143 and $ 170,272 at March 31, 2026 and December 31, 2025, respectively)

187,075 190,064

Goodwill 227,412 230,783

Intangible Assets (net of accumulated amortization of $ 7,316 and $ 3,727 at March 31, 2026 and December 31, 2025, respectively)

25,871 30,090

Other Assets 290,232 277,508

13 unchanged sentences

Amounts Due Pursuant to Tax Receivable Agreements 60,450 59,579

Deferred Tax Liabilities 4,056 4,652

Other Long-term Liabilities 107,883 142,145

3 unchanged sentences

Stockholders' Equity

Class A, par value $ 0.01 per share ( 1,000,000,000 shares authorized, 87,122,217 and 84,767,922 issued at September 30, 2025 and December 31, 2024, respectively, and 38,558,476 and 38,116,350 outstanding at September 30, 2025 and December 31, 2024, respectively)

Class B, par value $ 0.01 per share ( 1,000,000 shares authorized, 46 and 45 issued and outstanding at September 30, 2025 and December 31, 2024, respectively)

Class A, par value $ 0.01 per share ( 1,000,000,000 shares authorized, 89,656,198 and 87,572,820 issued at March 31, 2026 and December 31, 2025, respectively, and 38,676,527 and 38,522,790 outstanding at March 31, 2026 and December 31, 2025, respectively)

Class B, par value $ 0.01 per share ( 1,000,000 shares authorized, 46 and 45 issued and outstanding at March 31, 2026 and December 31, 2025, respectively)

Additional Paid-In Capital 4,141,883 4,024,496

1 unchanged sentence

Retained Earnings 2,846,337 2,581,815

Treasury Stock at Cost ( 48,563,741 and 46,651,572 shares at September 30, 2025 and December 31, 2024, respectively)

Treasury Stock at Cost ( 50,979,671 and 49,050,030 shares at March 31, 2026 and December 31, 2025, respectively)

( 5,183,832 ) ( 4,562,483 )

8 unchanged sentences

(dollars and share amounts in thousands, except per share data)

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2025 2024 2025 2024

For the Three Months Ended March 31,

Investment Banking & Equities:

16 unchanged sentences

Execution, Clearing and Custody Fees 3,187 3,346

Special Charges, Including Business Realignment Costs — 7,305 — 7,305

Acquisition and Transition Costs 1,800 —

4 unchanged sentences

Income Before Income Taxes 331,777 112,063

Provision for Income Taxes 59,794 34,971 62,332 56,659

Provision (Benefit) for Income Taxes 9,056 ( 41,727 )

Net Income 322,721 153,790

17 unchanged sentences

(dollars in thousands)

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2025 2024 2025 2024

For the Three Months Ended March 31,

Net Income $ 322,721 $ 153,790

11 unchanged sentences

(dollars in thousands, except share data)

For the Three Months Ended September 30, 2025

Additional Other

Class A Common Stock Paid-In Comprehensive Retained Treasury Stock Noncontrolling Total

Shares Dollars Capital Income (Loss) Earnings Shares Dollars Interest Equity

Balance at June 30, 2025 86,982,643 $ 870 $ 3,709,719 $ ( 10,917 ) $ 2,305,996 ( 48,389,127 ) $ ( 4,350,589 ) $ 263,415 $ 1,918,494

Net Income — — — — 144,583 — — 12,911 157,494

Other Comprehensive Income (Loss) — — — ( 4,266 ) — — — ( 334 ) ( 4,600 )

Treasury Stock Purchases — — — — — ( 174,614 ) ( 57,032 ) — ( 57,032 )

Evercore LP Units Exchanged for Class A Common Stock 106,957 1 16,438 — — — — ( 11,806 ) 4,633

Equity-based Compensation Awards 32,617 — 92,691 — — — — 20,977 113,668

Dividends — — — — ( 36,480 ) — — — ( 36,480 )

Noncontrolling Interest (Note 13) — — ( 1,568 ) — — — — ( 8,949 ) ( 10,517 )

Balance at September 30, 2025 87,122,217 $ 871 $ 3,817,280 $ ( 15,183 ) $ 2,414,099 ( 48,563,741 ) $ ( 4,407,621 ) $ 276,214 $ 2,085,660

For the Nine Months Ended September 30, 2025

For the Three Months Ended March 31, 2026

Additional Other

3 unchanged sentences

Net Income — — — — 301,235 — — 21,486 322,721

Other Comprehensive Income — — — 20,874 — — — 1,695 22,569

Treasury Stock Purchases — — — — — ( 1,912,169 ) ( 506,197 ) — ( 506,197 )

Evercore LP Units Exchanged for Class A Common Stock 217,274 2 29,879 — — — — ( 22,773 ) 7,108

Equity-based Compensation Awards 2,137,021 21 279,833 — — — — 53,551 333,405

Dividends — — — — ( 107,788 ) — — — ( 107,788 )

Noncontrolling Interest (Note 13) — — ( 2,788 ) — — — — ( 20,680 ) ( 23,468 )

Balance at September 30, 2025 87,122,217 $ 871 $ 3,817,280 $ ( 15,183 ) $ 2,414,099 ( 48,563,741 ) $ ( 4,407,621 ) $ 276,214 $ 2,085,660

For the Three Months Ended September 30, 2024

Additional Other

Class A Common Stock Paid-In Comprehensive Retained Treasury Stock Noncontrolling Total

Shares Dollars Capital Income (Loss) Earnings Shares Dollars Interest Equity

Balance at June 30, 2024 84,435,812 $ 844 $ 3,331,726 $ ( 30,501 ) $ 1,984,130 ( 46,117,928 ) $ ( 3,770,688 ) $ 212,015 $ 1,727,526

Net Income — — — — 78,393 — — 9,701 88,094

Other Comprehensive Income — — — 10,691 — — — 995 11,686

Other Comprehensive Income (Loss) — — — ( 10,071 ) — — — ( 912 ) ( 10,983 )

Treasury Stock Purchases — — — — — ( 1,929,641 ) ( 621,349 ) — ( 621,349 )

3 unchanged sentences

Noncontrolling Interest (Note 13) — — — — — — — ( 11,633 ) ( 11,633 )

Balance at September 30, 2024 84,587,099 $ 846 $ 3,418,918 $ ( 19,810 ) $ 2,027,982 ( 46,543,420 ) $ ( 3,871,089 ) $ 223,107 $ 1,779,954

For the Nine Months Ended September 30, 2024

Balance at March 31, 2026 89,656,198 $ 897 $ 4,141,883 $ ( 23,199 ) $ 2,846,337 ( 50,979,671 ) $ ( 5,183,832 ) $ 306,515 $ 2,088,601

For the Three Months Ended March 31, 2025

Additional Other

9 unchanged sentences

Noncontrolling Interest (Note 13) — — — — — — — ( 7,848 ) ( 7,848 )

Balance at September 30, 2024 84,587,099 $ 846 $ 3,418,918 $ ( 19,810 ) $ 2,027,982 ( 46,543,420 ) $ ( 3,871,089 ) $ 223,107 $ 1,779,954

Balance at March 31, 2025 86,863,201 $ 869 $ 3,596,161 $ ( 28,210 ) $ 2,245,124 ( 48,206,094 ) $ ( 4,307,384 ) $ 245,095 $ 1,751,655

See Notes to Unaudited Condensed Consolidated Financial Statements.

2 unchanged sentences

(dollars in thousands)

For the Nine Months Ended September 30,

For the Three Months Ended March 31,

Cash Flows From Operating Activities

1 unchanged sentence

Adjustments to Reconcile Net Income to Net Cash Provided by (Used In) Operating Activities:

Net (Gains) Losses on Investments, Investment Securities and Contingent Consideration ( 20,253 ) ( 30,153 )

Equity Method Investments, Including (Gains) Losses on Sales and Redemptions ( 88 ) 7,461

Net Losses on Investments, Investment Securities and Contingent Consideration 8,573 7,120

Equity Method Investments 85 87

Equity-Based and Other Deferred Compensation 195,777 148,425

14 unchanged sentences

Other Liabilities ( 79,912 ) ( 70,454 )

Net Cash Provided by Operating Activities 448,997 301,767

Net Cash Provided by (Used in) Operating Activities ( 225,863 ) ( 549,653 )

Cash Flows From Investing Activities

Investments Purchased ( 1,000 ) —

Proceeds from Sale of Investments — 18,113

Distributions of Private Equity Investments — 1,215

5 unchanged sentences

Purchase of Furniture, Equipment and Leasehold Improvements ( 3,103 ) ( 19,660 )

Net Cash Provided by (Used in) Investing Activities ( 88,230 ) 179,131

Net Cash Provided by Investing Activities 524,527 679,761

Cash Flows From Financing Activities

3 unchanged sentences

Payment of Notes Payable ( 48,000 ) —

Issuance of Notes Payable 250,000 —

Debt Issuance Costs ( 342 ) —

Purchase of Treasury Stock and Noncontrolling Interests ( 621,349 ) ( 405,674 )

9 unchanged sentences

Accrued Dividends $ 3,723 $ 3,763

Redemption of Luminis Interest $ — $ 7,305

See Notes to Unaudited Condensed Consolidated Financial Statements.

10 unchanged sentences

The Investment Banking & Equities segment also includes the equities business through which the Company offers macroeconomic, policy and fundamental equity research and agency-based equity securities trading for institutional investors.

The Company's interest in Seneca Advisors LTDA ("Seneca Evercore"), which is accounted for under the equity method of accounting, and the Company's former interest in Luminis Partners ("Luminis", through September 2024), are also reflected in the Investment Banking & Equities segment.

The Company's interest in Seneca Advisors LTDA ("Seneca Evercore"), which is accounted for under the equity method of accounting, is also reflected in the Investment Banking & Equities segment.

In 2025, the Company acquired Robey Warshaw, an independent advisory firm headquartered in the United Kingdom.

The Investment Management segment includes the wealth management business through which the Company provides investment advisory, wealth management and fiduciary services for high-net-worth individuals and associated entities, and the private equity business, which holds interests in private equity funds which are not managed by the Company.

The Investment Management segment also includes an interest in Atalanta Sosnoff Capital, LLC ("Atalanta Sosnoff"), which is accounted for under the equity method of accounting, and the Company's former interest in ABS Investment Management Holdings LP and ABS Investment Management GP LLC (collectively, "ABS", through July 2024).

The Investment Management segment also includes an interest in Atalanta Sosnoff Capital, LLC ("Atalanta Sosnoff"), which is accounted for under the equity method of accounting.

Note 2 – Significant Accounting Policies

5 unchanged sentences

These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company's annual report on Form 10-K for the year ended December 31, 2025.

The December 31, 2024 Unaudited Condensed Consolidated Statements of Financial Condition data was derived from audited consolidated financial statements, but does not include all disclosures required by U.S.

The December 31, 2025 Unaudited Condensed Consolidated Statement of Financial Condition data was derived from audited consolidated financial statements, but does not include all disclosures required by U.S.

Operating results for interim periods are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2026.

The accompanying unaudited condensed consolidated financial statements of the Company are comprised of the consolidation of Evercore LP and Evercore LP's wholly-owned and majority-owned direct and indirect subsidiaries, including Evercore Group L.L.C.

("EGL"), a registered broker-dealer in the U.S.

("EGL"), a registered broker-dealer in the U.S., and Evercore Partners International LLP ("Evercore U.K."), an investment firm in the U.K.

The Company's policy is to consolidate all subsidiaries in which it has a controlling financial interest, as well as any variable interest entities ("VIEs") where the Company is deemed to be the primary beneficiary, when it has the power to make the decisions that most significantly affect the economic performance of the VIE and has the obligation to absorb significant losses or the right to receive benefits that could potentially be significant to the VIE.

10 unchanged sentences

corporate taxes and related items, which are presented on the Company's (Parent Company Only) Condensed Statements of Financial Condition in Note 24 to the Company's consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2025.

Evercore ISI International Limited ("Evercore ISI U.K."), Evercore Partners International LLP ("Evercore U.K."), Evercore (Japan) Ltd.

Evercore ISI International Limited ("Evercore ISI U.K."), Evercore U.K., Evercore (Japan) Ltd.

("Evercore Japan"), Evercore Consulting (Beijing) Co.

("Evercore Beijing"), Evercore Partners Canada Ltd.

("Evercore Canada"), Evercore Asia Limited ("Evercore Hong Kong") and Evercore Asia (Singapore) Pte.

("Evercore Singapore") are also VIEs, and the Company is the primary beneficiary of these VIEs.

Specifically for Evercore ISI U.K., Evercore Japan, Evercore Beijing, Evercore Canada, Evercore Hong Kong and Evercore Singapore (as of January 1, 2025 for Evercore Singapore), the Company provides financial support through transfer pricing agreements with these entities, which exposes the Company to losses that are potentially significant to these entities, and has decision making authority that significantly affects the economic performance of these entities.

("Evercore Canada"), Evercore Asia Limited ("Evercore Hong Kong"), Evercore Asia (Singapore) Pte.

("Evercore Singapore") and PT Evercore Advisory Indonesia ("Evercore Indonesia") are also VIEs, and the Company is the primary beneficiary of these VIEs.

Specifically for Evercore ISI U.K., Evercore Japan, Evercore Beijing, Evercore Canada, Evercore Hong Kong, Evercore Singapore and Evercore Indonesia, the Company provides financial support through transfer pricing agreements with these entities, which exposes the Company to losses that are potentially significant to these entities, and has decision making authority that significantly affects the economic performance of these entities.

The Company has the majority economic interest in Evercore U.K.

and has decision making authority that significantly affects the economic performance of this entity.

The Company included in its Unaudited Condensed Consolidated Statements of Financial Condition Evercore ISI U.K., Evercore U.K., Evercore Japan, Evercore Beijing, Evercore Canada, Evercore Hong Kong and Evercore Singapore assets of $ 962,003 and liabilities of $ 236,451 at September 30, 2025 and Evercore ISI U.K., Evercore U.K., Evercore Japan, Evercore Beijing, Evercore Canada and Evercore Hong Kong assets of $ 581,814 and liabilities of $ 246,321 at December 31, 2024.

The Company included in its Unaudited Condensed Consolidated Statements of Financial Condition Evercore ISI U.K., Evercore U.K., Evercore Japan, Evercore Beijing, Evercore Canada, Evercore Hong Kong, Evercore Singapore and Evercore Indonesia assets of $ 1,133,162 and liabilities of $ 342,720 at March 31, 2026 and assets of $ 1,269,753 and liabilities of $ 485,879 at December 31, 2025.

All intercompany balances and transactions with the Company's subsidiaries have been eliminated upon consolidation.

Reclassifications – During the second quarter of 2025, certain balances on the Unaudited Condensed Consolidated Statements of Operations for prior periods were reclassified to conform to the current presentation, with no impact on previously reported Net Income.

Technology and Information Services – The Company renamed "Communications and Information Services" to "Technology and Information Services" on the Unaudited Condensed Consolidated Statements of Operations and reclassified $ 10,465 and $ 29,325 of technology and related expenses from "Professional Fees" to "Technology and Information Services" for the three and nine months ended September 30, 2024, respectively.

The prior period reclassifications from "Professional Fees" to "Technology and Information Services" are as follows:

$ 10,223 for the three months ended March 31, 2025;

$ 9,009 , $ 9,851 , $ 10,465 and $ 10,196 for the three months ended March 31, 2024, June 30, 2024, September 30, 2024 and December 31, 2024, respectively, and $ 39,521 for the twelve months ended December 31, 2024;

$ 8,567 , $ 8,186 , $ 9,241 and $ 9,066 for the three months ended March 31, 2023, June 30, 2023, September 30, 2023 and December 31, 2023, respectively, and $ 35,060 for the twelve months ended December 31, 2023.

Technology and Information Services – The Company renamed "Communications and Information Services" to "Technology and Information Services" on the Unaudited Condensed Consolidated Statements of Operations and reclassified $ 10,223 of technology and related expenses from "Professional Fees" to "Technology and Information Services" for the three months ended March 31, 2025.

Note 3 – Recent Accounting Pronouncements

ASU 2024-03 – In November 2024, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No.

2023-07, "Improvements to Reportable Segment Disclosures" ("ASU 2023-07").

ASU 2023-07 provides amendments to Accounting Standards Codification ("ASC") 280, "Segment Reporting" ("ASC 280"), which require disclosure of incremental segment information on an annual and interim basis, and require that all annual disclosures currently required by ASC 280 about a reportable segment's profit or loss and assets are also provided in interim periods.

The amendments in this update are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted.

The amendments require retrospective application.

The Company adopted ASU 2023-07 on January 1, 2024.

The adoption of ASU 2023-07 resulted in the Company providing disclosure of incremental segment information, including significant segment expenses that are regularly provided to the Company's Chief Operating Decision Maker ("CODM").

See Note 19 for further information.

ASU 2023-09 – In December 2023, the FASB issued ASU No.

2023-09, "Improvements to Income Tax Disclosures" ("ASU 2023-09").

ASU 2023-09 provides amendments to ASC 740, "Income Taxes," which require greater disaggregation of information in a reporting entity's effective tax rate reconciliation, require disaggregation of income taxes paid by federal, state, and foreign jurisdictions and add or modify certain other disclosure requirements.

The amendments in this update are effective for annual periods beginning after December 15, 2024.

While ASU 2023-09 implements further

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

income tax disclosure requirements, it does not change how an entity determines its income tax obligation, and it will have no impact on the Company's financial condition, results of operations or cash flows.

ASU 2024-01 – In March 2024, the FASB issued ASU No.

2024-01, "Compensation – Stock Compensation (Topic 718):

Scope Application of Profits Interest and Similar Awards" ("ASU 2024-01").

ASU 2024-01 provides amendments to ASC 718, "Compensation – Stock Compensation," which provide guidance in determining whether profits interest and similar awards should be accounted for as share-based arrangements within the scope of Topic 718.

The amendments in this update are effective for annual periods beginning after December 15, 2024.

The amendments should be applied on a prospective or retrospective basis.

The Company adopted ASU 2024-01 on January 1, 2025 on a prospective basis.

The adoption of ASU 2024-01 did not have a material impact on the Company's financial condition, results of operations and cash flows, or disclosures thereto.

ASU 2024-03 – In November 2024, the FASB issued ASU No.

2024-03, "Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40):

Disaggregation of Income Statement Expenses" ("ASU 2024-03").

ASU 2024-03 provides amendments to ASC 220, "Income Statement – Reporting Comprehensive Income" , which require disaggregated disclosure of certain income statement expense captions into specified categories within the notes to the financial statements.

ASU 2024-03 provides amendments to Accounting Standards Codification ("ASC") 220, "Income Statement – Reporting Comprehensive Income" , which require disaggregated disclosure of certain income statement expense captions into specified categories within the notes to the financial statements.

The amendments in this update are effective for annual periods beginning after December 15, 2026, with early adoption permitted.

11 unchanged sentences

Measurement of Credit Losses for Accounts Receivable and Contract Assets" ("ASU 2025-05").

ASU 2025-05 provides amendments to ASC 326, "Financial Instruments – Credit Losses" , which allow entities to elect a practical expedient that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset when developing reasonable and supportable forecasts as part of estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under ASC 606, "Revenue from Contracts with Customers" ("ASC 606").

ASU 2025-05 provides amendments to ASC 326, "Financial Instruments – Credit Losses" ("ASC 326"), which allow entities to elect a practical expedient that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

when developing reasonable and supportable forecasts as part of estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under ASC 606, "Revenue from Contracts with Customers" ("ASC 606").

The amendments in this update are effective for fiscal years beginning after December 15, 2025 and interim periods within those fiscal years, with early adoption permitted.

The amendments should be applied on a prospective basis.

The Company is currently assessing the impact of this update on the Company's financial condition, results of operations and cash flows, or disclosures thereto.

The Company adopted ASU 2025-05 on January 1, 2026 on a prospective basis and elected the practical expedient provided by ASU 2025-05.

Under this expedient, the Company assumes that economic conditions as of the balance sheet date remain unchanged for the remaining life of all current accounts receivable and current contract assets arising from transactions under ASC 606.

The Company continues to estimate expected credit losses for non-current receivables and contract assets in accordance with ASC 326's standard methodology.

The adoption of ASU 2025-05 did not have a material impact on the Company's financial condition, results of operations and cash flows, or disclosures thereto.

ASU 2025-06 – In September 2025, the FASB issued ASU No.

5 unchanged sentences

The Company is currently assessing the impact of this update on the Company's financial condition, results of operations and cash flows, or disclosures thereto.

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

ASU 2025-11 – In December 2025, the FASB issued ASU No.

2025-11, "Interim Reporting (Topic 270):

Narrow-Scope Improvements" ("ASU 2025-11").

ASU 2025-11 provides amendments to ASC 270, "Interim Reporting" , which clarify interim disclosure requirements and require disclosure of events since the end of the last annual reporting period that have a material impact on the entity.

The amendments in this update are effective for fiscal years beginning after December 15, 2027 and interim periods within those fiscal years, with early adoption permitted.

The amendments should be applied on a prospective or retrospective basis.

The Company is currently assessing the impact of this update on the Company's financial condition, results of operations and cash flows, or disclosures thereto.

Note 4 – Revenue and Accounts Receivable

The following table presents revenue recognized by the Company for the three and nine months ended September 30, 2025 and 2024:

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2025 2024 2025 2024

The following table presents revenue recognized by the Company for the three months ended March 31, 2026 and 2025:

For the Three Months Ended March 31,

Investment Banking & Equities:

10 unchanged sentences

The change in the Company’s contract assets and liabilities during the following periods primarily reflects timing differences between the Company’s performance and the client’s payment.

The Company’s receivables, contract assets and deferred revenue (contract liabilities) for the nine months ended September 30, 2025 and 2024 are as follows:

For the Nine Months Ended September 30, 2025

The Company’s receivables, contract assets and deferred revenue (contract liabilities) for the three months ended March 31, 2026 and 2025 are as follows:

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

For the Three Months Ended March 31, 2026

(Current) (1)

6 unchanged sentences

Increase (Decrease) ( 9,244 ) 13,715 ( 85,882 ) 3,642 16,653

Balance at September 30, 2025 $ 523,321 $ 113,239 $ 61,326 $ 32,093 $ 5,747

For the Nine Months Ended September 30, 2024

Balance at March 31, 2026 $ 546,568 $ 143,568 $ 61,562 $ 31,547 $ 22,648

For the Three Months Ended March 31, 2025

(Current) (1)

6 unchanged sentences

Increase (Decrease) 47,645 12,152 ( 29,713 ) 1,057 3,094

Balance at September 30, 2024 $ 415,494 $ 97,634 $ 110,477 $ 2,675 $ 4,606

Balance at March 31, 2025 $ 469,147 $ 113,466 $ 32,666 $ 15,534 $ 6,676

(1) Included in Accounts Receivable on the Unaudited Condensed Consolidated Statements of Financial Condition.

4 unchanged sentences

Under ASC 606, revenue is recognized when all material conditions for completion have been met and it is probable that a significant revenue reversal will not occur in a future period.

The Company recognized revenue of $ 5,633 and $ 16,674 on the Unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2025, respectively, and $ 6,340 and $ 16,689 for the three and

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

nine months ended September 30, 2024, respectively, that was initially included in deferred revenue within Other Current Liabilities on the Company’s Unaudited Condensed Consolidated Statements of Financial Condition.

The Company recognized revenue of $ 7,804 and $ 5,110 on the Unaudited Condensed Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025, respectively, that was initially included in deferred revenue within Other Current Liabilities on the Company’s Unaudited Condensed Consolidated Statements of Financial Condition.

Generally, performance obligations under client arrangements will be settled within one year ;

therefore, the Company has elected to apply the practical expedient in ASC 606-10-50-14.

The allowance for credit losses for the three and nine months ended September 30, 2025 and 2024 is as follows:

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2025 2024 2025 2024

The allowance for credit losses for the three months ended March 31, 2026 and 2025 is as follows:

For the Three Months Ended March 31,

Beginning Balance $ 2,983 $ 2,253

2 unchanged sentences

Ending Balance $ 2,810 $ 3,183

The change in the balance during the three months ended September 30, 2025 is primarily related to the write-off of aged receivables.

The change in the balance during the nine months ended September 30, 2025 is primarily related to the write-off of aged receivables, partially offset by an increase in the Company's reserve for credit losses.

The change in the balance during the three months ended March 31, 2026 is primarily related to a decrease in the Company's reserve for credit losses and the write-off of aged receivables.

For long-term accounts receivable and long-term contract assets, the Company monitors clients’ creditworthiness based on collection experience and other internal metrics.

The following table presents the Company’s long-term accounts receivable and long-term contract assets, primarily from the Company's private and secondary fund advisory businesses, as of September 30, 2025, by year of origination:

Amortized Carrying Value by Origination Year

1 unchanged sentence

Long-term Accounts Receivable and Long-term Contract Assets $ 36,734 $ 91,709 $ 33,188 $ 10,330 $ 3,154 $ 175,115

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

Note 5 – Business Changes and Developments

Robey Warshaw

On July 29, 2025, the Company entered into an agreement to acquire Robey Warshaw, an independent advisory firm headquartered in the United Kingdom.

The transaction closed on October 1, 2025.

As consideration for the acquisition, the Company delivered to the sellers £ 71,250 ($ 95,755 ) at closing in the form of 275 shares of Class A common stock ("Class A Shares"), a portion of which is subject to repayment if they fail to provide service over a four-year period following the acquisition.

Additionally, the Company will deliver to the sellers £ 74,813 due on the first anniversary of the closing (in Class A Shares or cash), as well as contingent consideration payable on various dates between closing and shortly following the six th anniversary of closing, dependent on the achievement of certain performance thresholds over a multi-year period.

A portion of the contingent consideration, the amount of the payment at closing subject to repayment, as well as retention awards granted to Robey Warshaw employees joining the Company will be treated as compensation for accounting purposes.

The Company recognized $ 3,516 and $ 5,153 for the three and nine months ended September 30, 2025, respectively, as Acquisition and Transition Costs.

These costs are primarily comprised of professional fees and certain other costs incurred related to the acquisition of Robey Warshaw.

As consideration for the acquisition, the Company delivered to the sellers £ 71,250 ($ 95,767 ) at closing in the form of 275 shares of Class A common stock ("Class A Shares"), as well as cash of $ 5,345 .

Of the £ 71,250 delivered in Class A Shares at closing, £ 62,700 ($ 84,275 ) is subject to repayment if the sellers fail to provide service over a four-year period following the acquisition and, as such, will be treated as compensation for accounting purposes.

See Note 15 for further information.

Additionally, the Company will deliver to the sellers £ 74,813 ($ 100,796 ) due on the first anniversary of the closing (in Class A Shares or cash), the present value of which was $ 96,132 and $ 96,538 as of March 31, 2026 and December 31, 2025, respectively, and is classified within Payable to Employees and Related Parties on the Company's Unaudited Condensed Consolidated Statements of Financial Condition.

The sellers are also entitled to contingent consideration, which had a fair value of $ 25,256 and $ 24,521 as of March 31, 2026 and December 31, 2025, respectively, and will be payable on various dates between closing and shortly following the six th anniversary of closing, dependent on the achievement of certain performance thresholds over a multi-year period.

This contingent consideration is recorded within Other Long-term Liabilities on the Company's Unaudited Condensed Consolidated Statements of Financial Condition.

The change in the fair value of the contingent consideration resulted in Other Operating Expenses of $ 1,203 for the three months ended March 31, 2026 on the Unaudited Condensed Consolidated Statement of Operations.

As part of the consideration transferred to the sellers, the Company also issued performance-based awards which are treated as compensation for accounting purposes.

Furthermore, the Company also granted retention awards to Robey Warshaw employees joining the Company which are treated as compensation for accounting purposes.

See Note 15 for further information.

Intangible Asset Amortization

Expense associated with the amortization of intangible assets for the Investment Banking & Equities segment was $ 3,730 for the three months ended March 31, 2026, included within Depreciation and Amortization expense on the Unaudited Condensed Consolidated Statement of Operations.

Acquisition and Transition Costs

The Company incurred acquisition-related costs of $ 1,800 for the three months ended March 31, 2026, related to the impairment of a lease related to the acquisition of Robey Warshaw, which are included in Acquisition and Transition Costs on the Unaudited Condensed Consolidated Statement of Operations.

Note 6 – Related Parties

Advisory Fees includes fees earned from clients that have the Company's Senior Managing Directors, certain Senior Advisors and executives as a member of their Board of Directors of $ 1,469 and $ 2,740 for the three and nine months ended September 30, 2025, respectively, and $ 4 and $ 1,738 for the three and nine months ended September 30, 2024, respectively.

Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition includes the long-term portion of loans receivable from certain employees of $ 31,684 and $ 29,357 as of September 30, 2025 and December 31, 2024, respectively.

Advisory Fees includes fees earned from clients that have the Company's Senior Managing Directors, certain Senior Advisors and executives as a member of their Board of Directors of $ 1,913 and $ 1,271 for the three months ended March 31, 2026 and 2025, respectively.

Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition includes the long-term portion of loans receivable from certain employees of $ 37,253 and $ 34,675 as of March 31, 2026 and December 31, 2025, respectively.

See Note 15 for further information.

3 unchanged sentences

Note 7 – Investment Securities and Certificates of Deposit

The Company's Investment Securities and Certificates of Deposit as of September 30, 2025 and December 31, 2024 were as follows:

September 30, 2025 December 31, 2024

The Company's Investment Securities and Certificates of Deposit as of March 31, 2026 and December 31, 2025 were as follows:

March 31, 2026 December 31, 2025

Debt Securities $ — $ 877,803

9 unchanged sentences

Treasury securities, are stated at fair value with unrealized gains and losses included in Accumulated Other Comprehensive Income (Loss) on the Unaudited Condensed Consolidated Statements of Financial Condition and realized gains and losses included in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations, on a specific identification basis.

Gross unrealized gains included in Accumulated Other Comprehensive Income (Loss) were $ 130 and $ 297 as of September 30, 2025 and December 31, 2024, respectively.

Gross unrealized losses included in Accumulated Other Comprehensive Income (Loss) were ($ 3 ) as of September 30, 2025.

Net unrealized gains (losses) included in Other Comprehensive Income were $ 121 and ($ 172 ) for the three and nine months ended September 30, 2025, respectively, and $ 125 and ($ 32 ) for the three and nine months ended September 30, 2024, respectively.

Gross realized gains included within Other Revenue, Including Interest and Investments, were $ 3 for the nine months ended September 30, 2025.

Gross realized losses included within Other Revenue, Including Interest and Investments, were ($ 20 ) for the nine months ended September 30, 2025 and ($ 47 ) for the nine months ended September 30, 2024.

Proceeds from the sales and maturities of available-for-sale securities, including interest, were $ 250,000 and $ 1,091,964 for the three and nine months ended September 30, 2025, respectively, and $ 187,000 and $ 934,511 for the three and nine months ended September 30, 2024, respectively.

Scheduled maturities of the Company's available-for-sale debt securities as of September 30, 2025 and December 31, 2024 were as follows:

September 30, 2025 December 31, 2024

Gross unrealized gains included in Accumulated Other Comprehensive Income (Loss) were $ 218 as of December 31, 2025.

Gross unrealized losses included in Accumulated Other Comprehensive Income (Loss) were ($ 21 ) as of December 31, 2025.

Net unrealized gains (losses) included in Other Comprehensive Income were ($ 195 ) and ($ 301 ) for the three months ended March 31, 2026 and 2025, respectively.

Gross realized gains included within Other Revenue, Including Interest and Investments, were $ 3 for each of the three months ended March 31, 2026 and 2025.

Gross realized losses included within Other Revenue, Including Interest and Investments, were ($ 42 ) and ($ 20 ) for the three months ended March 31, 2026 and 2025, respectively.

Proceeds from the sales and maturities of available-for-sale securities, including interest, were $ 881,184 and $ 816,039 for the three months ended March 31, 2026 and 2025, respectively.

Scheduled maturities of the Company's available-for-sale debt securities as of March 31, 2026 and December 31, 2025 were as follows:

March 31, 2026 December 31, 2025

Cost Fair Value Amortized

3 unchanged sentences

The Company has the ability and intent to hold available-for-sale securities until a recovery of fair value is equal to an amount approximating its amortized cost, which may be at maturity.

Further, the securities are all U.S.

Further, as of December 31, 2025, the securities are all U.S.

Treasury securities and the Company has not incurred credit losses on its securities.

As such, the Company does not consider these securities to be impaired at September 30, 2025 and has not recorded a credit allowance on these securities.

As such, the Company does not consider these securities to be impaired at December 31, 2025 and has not recorded a credit allowance on these securities.

EVERCORE INC.

3 unchanged sentences

Equity Securities are carried at fair value with changes in fair value recorded in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations.

The Company had net unrealized gains (losses) of $ 97 and ($ 11 ) for the three and nine months ended September 30, 2025, respectively, and ($ 1 ) and ($ 122 ) for the three and nine months ended September 30, 2024, respectively.

The Company had net unrealized losses of ($ 65 ) and ($ 89 ) for the three months ended March 31, 2026 and 2025, respectively.

Debt Securities Carried by EGL

2 unchanged sentences

These securities are carried at fair value, with changes in fair value recorded in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations, as required for broker-dealers in securities.

The Company had net realized and unrealized gains of $ 187 and $ 30 for the three and nine months ended September 30, 2025, respectively, and $ 295 and $ 210 for the three and nine months ended September 30, 2024, respectively.

The Company had net realized and unrealized losses of ($ 53 ) and ($ 104 ) for the three months ended March 31, 2026 and 2025, respectively.

Investment Funds

2 unchanged sentences

These securities are carried at fair value, with changes in fair value recorded in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations.

The Company had net realized and unrealized gains of $ 12,400 and $ 21,554 for the three and nine months ended September 30, 2025, respectively, (of which $ 12,400 and ($ 1,054 ), respectively, were net unrealized gains (losses)) and $ 9,106 and $ 30,217 for the three and nine months ended September 30, 2024, respectively, (of which $ 8,836 and $ 19,515 , respectively, were net unrealized gains).

The Company had net realized and unrealized losses of ($ 7,214 ) and ($ 5,931 ) for the three months ended March 31, 2026 and 2025, respectively (of which ($ 35,094 ) and ($ 28,539 ), respectively, were net unrealized losses).

Certificates of Deposit

At September 30, 2025 and December 31, 2024, the Company held certificates of deposit of $ 136,758 and $ 66,660 , respectively, with certain banks with original maturities of seven months or less when purchased.

At March 31, 2026 and December 31, 2025, the Company held certificates of deposit of $ 198,331 and $ 40,421 , respectively, with certain banks with original maturities of seven months or less when purchased.

Note 8 – Investments

1 unchanged sentence

The Company's investments are relatively high-risk and illiquid assets.

The Company's investments in Atalanta Sosnoff, Seneca Evercore, ABS (through July 2024) and Luminis (through September 2024) are in voting interest entities.

The Company's investments in Atalanta Sosnoff and Seneca Evercore are in voting interest entities.

The Company's share of earnings (losses) from these investments is included within Income from Equity Method Investments on the Unaudited Condensed Consolidated Statements of Operations.

2 unchanged sentences

Equity Method Investments

A summary of the Company's investments accounted for under the equity method of accounting as of September 30, 2025 and December 31, 2024 was as follows:

September 30, 2025 December 31, 2024

A summary of the Company's investments accounted for under the equity method of accounting as of March 31, 2026 and December 31, 2025 was as follows:

March 31, 2026 December 31, 2025

Atalanta Sosnoff $ 11,168 $ 11,261

3 unchanged sentences

The Company has an investment accounted for under the equity method of accounting in Atalanta Sosnoff.

At September 30, 2025, the Company's ownership interest in Atalanta Sosnoff was 49 %.

This investment resulted in earnings of $ 1,071 and

At March 31, 2026, the Company's ownership interest in Atalanta Sosnoff was 49 %.

This investment resulted in earnings of $ 1,043 and $ 917 for the three months ended March 31, 2026 and 2025, respectively, included within Income from Equity Method Investments on the Unaudited Condensed Consolidated Statements of Operations.

EVERCORE INC.

1 unchanged sentence

(amounts in thousands, except per share amounts, unless otherwise noted)

$ 2,792 for the three and nine months ended September 30, 2025, respectively, and $ 865 and $ 2,181 for the three and nine months ended September 30, 2024, respectively, included within Income from Equity Method Investments on the Unaudited Condensed Consolidated Statements of Operations.

Seneca Evercore

The Company has an investment accounted for under the equity method of accounting in Seneca Evercore.

At September 30, 2025, the Company's ownership interest in Seneca Evercore was 20 %.

This investment resulted in earnings (losses) of $ 11 and ($ 16 ) for the three and nine months ended September 30, 2025, respectively, and $ 129 and $ 259 for the three and nine months ended September 30, 2024, respectively, included within Income from Equity Method Investments on the Unaudited Condensed Consolidated Statements of Operations.

At March 31, 2026, the Company's ownership interest in Seneca Evercore was 20 %.

This investment resulted in earnings (losses) of $ 8 and ($ 38 ) for the three months ended March 31, 2026 and 2025, respectively, included within Income from Equity Method Investments on the Unaudited Condensed Consolidated Statements of Operations.

This investment is subject to currency translation from the Brazilian real to the U.S.

dollar, included in Accumulated Other Comprehensive Income (Loss), on the Unaudited Condensed Consolidated Statements of Financial Condition .

In July 2024, the Company sold its remaining 26 % ownership interest in ABS for cash of $ 18,113 .

This transaction resulted in a gain of $ 615 for the three and nine months ended September 30, 2024, included within Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations.

This investment resulted in earnings of $ 2,031 for the nine months ended September 30, 2024, included within Income from Equity Method Investments on the Unaudited Condensed Consolidated Statement of Operations.

In September 2024, the Company agreed to the redemption of its interest in Luminis, such that it no longer has an equity interest in Luminis following the redemption.

The Company received no consideration in respect of the redemption.

As a result, the Company incurred a loss associated with the write-off of the remaining carrying value of its investment of $ 7,305 for the three and nine months ended September 30, 2024, included within Special Charges, Including Business Realignment Costs, on the Unaudited Condensed Consolidated Statements of Operations.

This investment was subject to currency translation from the Australian dollar to the U.S.

dollar, included in Accumulated Other Comprehensive Income (Loss), on the Unaudited Condensed Consolidated Statement of Financial Condition.

Accordingly, the redemption resulted in the reclassification of $ 581 and $ 77 of cumulative foreign currency translation losses from Accumulated Other Comprehensive Income (Loss) and Noncontrolling Interest, respectively, on the Unaudited Condensed Consolidated Statement of Financial Condition to Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024.

This investment resulted in earnings of $ 78 and $ 783 for the three and nine months ended September 30, 2024, respectively, included within Income from Equity Method Investments on the Unaudited Condensed Consolidated Statements of Operations.

The Company allocates the purchase price of its equity method investments, in part, to the inherent finite-lived identifiable intangible assets of the investees.

The Company's share of the earnings of the investees has been reduced by the amortization of these identifiable intangible assets of $ 62 and $ 186 for the three and nine months ended September 30, 2025, respectively, and $ 79 and $ 237 for the three and nine months ended September 30, 2024, respectively.

The Company's share of the earnings of the investees has been reduced by the amortization of these identifiable intangible assets of $ 62 for each of the three months ended March 31, 2026 and 2025.

The Company assesses each of its equity method investments for impairment annually, or more frequently if circumstances indicate impairment may have occurred.

3 unchanged sentences

("Glisco II"), Glisco Partners III, L.P.

("Glisco III"), Glisco Capital Partners IV ("Glisco IV"), Trilantic Capital Partners Associates IV, L.P.

("Trilantic IV") and Trilantic Capital Partners V, L.P.

("Trilantic V").

("Glisco III"), Glisco Capital Partners IV ("Glisco IV"), Trilantic Capital Partners V, L.P.

("Trilantic V") and Trilantic Capital Partners Associates IV, L.P.

("Trilantic IV", through December 2025).

Portfolio holdings of the private equity funds are carried at fair value.

Accordingly, the Company reflects its pro rata share of unrealized gains and losses

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

occurring from changes in fair value, as well as its pro rata share of realized gains, losses and carried interest associated with any investment realizations.

A summary of the Company's investments in the private equity funds as of September 30, 2025 and December 31, 2024 was as follows:

September 30, 2025 December 31, 2024

Accordingly, the Company reflects its pro rata share of unrealized gains and losses occurring from changes in fair value, as well as its pro rata share of realized gains, losses and carried interest associated with any investment realizations.

A summary of the Company's investments in the private equity funds as of March 31, 2026 and December 31, 2025 was as follows:

March 31, 2026 December 31, 2025

Glisco II, Glisco III and Glisco IV $ 1,936 $ 1,927

Trilantic IV and Trilantic V 1,572 1,862

Trilantic V 725 725

Total Private Equity Funds $ 2,661 $ 2,652

Net realized and unrealized losses on private equity fund investments were ($ 25 ) and ($ 1,119 ) for the three and nine months ended September 30, 2025, respectively, and ($ 4 ) and ($ 105 ) for the three and nine months ended September 30, 2024, respectively.

Net realized and unrealized gains (losses) on private equity fund investments were $ 1 and ($ 980 ) for the three months ended March 31, 2026 and 2025, respectively.

In the event the funds perform poorly, the Company may be obligated to repay certain carried interest previously distributed.

As of September 30, 2025, there was no previously distributed carried interest received from the funds subject to repayment.

As of March 31, 2026, there was no previously distributed carried interest received from the funds subject to repayment.

General Partners of Private Equity Funds which are VIEs

3 unchanged sentences

Further, as a limited partner in these entities, the Company does not possess substantive participating rights.

The Company had assets of $ 1,326 and $ 2,956 included in its Unaudited Condensed Consolidated Statements of Financial Condition at September 30, 2025 and December 31, 2024, respectively, related to these unconsolidated VIEs, representing the carrying value of the Company's investments in the entities.

The Company had assets of $ 1,327 included in its Unaudited Condensed Consolidated Statements of Financial Condition at March 31, 2026 and December 31, 2025 related to these unconsolidated VIEs, representing the carrying value of the Company's investments in the entities.

The Company's exposure to the obligations of these VIEs is generally limited to its investments in these entities.

The Company's maximum exposure to loss as of September 30, 2025 and December 31, 2024 was $ 3,509 and $ 5,138 , respectively, which represents the carrying value of the Company's investments in these VIEs, as well as any unfunded commitments to the current and future funds.

The Company's maximum exposure to loss as of March 31, 2026 and December 31, 2025 was $ 3,510 which represents the carrying value of the Company's investments in these VIEs, as well as any unfunded commitments to the current and future funds.

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

Other Investments

In certain instances, the Company makes investments in private companies in exchange for equity securities and warrants, or receives equity securities in private companies in exchange for advisory services.

These investments, which had a balance of $ 1,671 and $ 625 as of September 30, 2025 and December 31, 2024, respectively, are accounted for at their cost minus impairment, if any, plus or minus changes resulting from observable price changes.

These investments, which had a balance of $ 1,660 and $ 1,673 as of March 31, 2026 and December 31, 2025, respectively, are accounted for at their cost minus impairment, if any, plus or minus changes resulting from observable price changes.

Note 9 – Leases

3 unchanged sentences

The Company does not have any leases with variable lease payments.

Occupancy and Equipment Rental on the Unaudited Condensed Consolidated Statements of Operations includes operating lease cost for office space of $ 18,317 and $ 53,709 for the three and nine months ended September 30, 2025, respectively, and $ 15,060 and $ 43,899 for the three and nine months ended September 30, 2024, respectively, and variable lease cost, which principally include costs for real estate taxes, common area maintenance and other operating expenses of $ 1,409 and $ 5,115 for the three and nine months ended September 30, 2025, respectively, and $ 1,662 and $ 4,566 for the three and nine months ended September 30, 2024, respectively.

In conjunction with the lease of office space, the Company has entered into letters of credit in the amount of $ 5,987 and $ 5,886 as of September 30, 2025 and December 31, 2024, respectively, which are secured by cash that is included in Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

Occupancy and Equipment Rental on the Unaudited Condensed Consolidated Statements of Operations includes operating lease cost for office space of $ 20,521 and $ 17,353 for the three months ended March 31, 2026 and 2025, respectively, and variable lease cost, which principally include costs for real estate taxes, common area maintenance and other operating expenses of $ 1,380 and $ 1,655 for the three months ended March 31, 2026 and 2025, respectively.

In conjunction with the lease of office space, the Company has entered into letters of credit in the amount of $ 6,083 and $ 6,037 as of March 31, 2026 and December 31, 2025, respectively, which are secured by cash that is included in Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.

The Company has entered into various operating leases for the use of office equipment (primarily computers, printers, copiers and other information technology related equipment).

Occupancy and Equipment Rental on the Unaudited Condensed Consolidated Statements of Operations includes operating lease cost for office equipment of $ 1,681 and $ 5,067 for the three and nine months ended September 30, 2025, respectively, and $ 1,657 and $ 4,699 for the three and nine months ended September 30, 2024, respectively.

Occupancy and Equipment Rental on the Unaudited Condensed Consolidated Statements of Operations includes operating lease cost for office equipment of $ 1,520 and $ 1,550 for the three months ended March 31, 2026 and 2025, respectively.

The Company uses its secured incremental borrowing rate to determine the present value of its right-of-use assets and lease liabilities.

2 unchanged sentences

The Company scales the rates appropriately depending on the life of the leases.

The Company incurred net operating cash outflows of $ 57,596 and $ 34,150 for the nine months ended September 30, 2025 and 2024, respectively, related to its operating leases, which was net of cash received from lease incentives of $ 5,098 and $ 1,684 for the nine months ended September 30, 2025 and 2024, respectively.

The Company incurred net operating cash outflows of $ 21,240 and $ 15,609 for the three months ended March 31, 2026 and 2025, respectively, related to its operating leases, which was net of cash received from lease incentives of $ 3,408 for the three months ended March 31, 2025.

Other information as it relates to the Company's operating leases is as follows:

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2025 2024 2025 2024

For the Three Months Ended March 31,

New Right-of-Use Assets obtained in exchange for new operating lease liabilities $ 5,385 $ 17,146

September 30, 2025 September 30, 2024

March 31, 2026 March 31, 2025

Weighted-average remaining lease term - operating leases 9.1 years 9.9 years

Weighted-average discount rate - operating leases 4.87 % 4.80 %

As of September 30, 2025, the maturities of the undiscounted operating lease liabilities for which the Company has commenced use are as follows:

2025 (October 1 through December 31) $ 21,671

As of March 31, 2026, the maturities of the undiscounted operating lease liabilities for which the Company has commenced use are as follows:

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

2026 (April 1 through December 31) $ 64,535

Thereafter 350,014

6 unchanged sentences

The Company has entered into certain lease agreements, primarily for office space, which have not yet commenced and thus are not yet included on the Company's Unaudited Condensed Consolidated Statements of Financial Condition as right-of-use assets and lease liabilities.

The Company anticipates that these leases will commence in 2025 and 2026 and will have lease terms of 3 to 6 years once they have commenced.

The additional future payments under these arrangements are $ 2,974 as of September 30, 2025.

The Company anticipates that these leases will commence in 2026 and will have lease terms of 3 to 7 years once they have commenced.

The additional future payments under these arrangements are $ 6,088 as of March 31, 2026.

In September 2024, the Company entered into a binding agreement affirming its intent to lease office space in London, United Kingdom.

The Company anticipates signing the lease in 2026, following construction of the building, and anticipates

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

that it will take possession of this space by the end of 2026.

The Company anticipates signing the lease in 2026, following construction of the building, and anticipates that it will take possession of this space by the end of 2026.

The lease term will end in 2041.

4 unchanged sentences

Investments with readily-available active quoted prices, or for which fair value can be measured from actively quoted prices, generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value.

Investments measured and reported at fair value are classified and disclosed in one of the following categories:

Level 1 – Quoted prices are available in active markets for identical investments as of the reporting date.

Investments and certain other financial assets and liabilities measured and reported at fair value are classified and disclosed in one of the following categories:

Level 1 – Quoted prices are available in active markets for identical assets and liabilities as of the reporting date.

The type of investments included in Level 1 include listed equities, listed derivatives and U.S.

4 unchanged sentences

The Company also periodically holds foreign exchange currency forward contracts, the estimated fair value of which is based on foreign currency exchange rates provided by external services.

Level 3 – Pricing inputs are unobservable for the investment and includes situations where there is little, if any, market activity for the investment.

Level 3 – Pricing inputs are unobservable for the asset or liability and includes situations where there is little, if any, market activity.

The inputs into the determination of fair value require significant management judgment or estimation.

The following table presents the categorization of investments and certain other financial assets measured at fair value on a recurring basis as of September 30, 2025 and December 31, 2024:

September 30, 2025

The following table presents the categorization of investments and certain other financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025:

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

March 31, 2026

Level 1 Level 2 Level 3 Total

3 unchanged sentences

Investment Funds 142,856 — — 142,856

Forward Contracts — 573 — 573

Total Assets Measured At Fair Value $ 848,407 $ — $ — $ 848,407

Contingent Consideration Liability (2)

$ — $ — $ 25,256 $ 25,256

Total Liabilities Measured at Fair Value $ — $ — $ 25,256 $ 25,256

December 31, 2025

5 unchanged sentences

Total Assets Measured At Fair Value $ 1,563,325 $ — $ — $ 1,563,325

Contingent Consideration Liability (2)

$ — $ — $ 24,521 $ 24,521

Total Liabilities Measured at Fair Value $ — $ — $ 24,521 $ 24,521

(1) Includes $ 11,708 and $ 23,108 of U.S.

Treasury securities classified within Cash and Cash Equivalents on the Unaudited Condensed Consolidated Statements of Financial Condition as of September 30, 2025 and December 31, 2024, respectively.

Treasury securities classified within Cash and Cash Equivalents on the Unaudited Condensed Consolidated Statements of Financial Condition as of March 31, 2026 and December 31, 2025, respectively.

(2) The Company's contingent consideration liability is reflected, at fair value, within Other Long-term Liabilities on the Company's Unaudited Condensed Consolidated Statements of Financial Condition.

The fair value of the contingent consideration liability is remeasured at each reporting period using the probability-weighted expected return method.

The inputs used to derive the fair value of the contingent consideration include the application of probabilities when assessing certain performance thresholds for the relevant periods.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy.

In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair

In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.

The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment.

The carrying amount and estimated fair value of the Company's financial instrument assets and liabilities, which are not measured at fair value on the Unaudited Condensed Consolidated Statements of Financial Condition, are listed in the tables below.

EVERCORE INC.

1 unchanged sentence

(amounts in thousands, except per share amounts, unless otherwise noted)

value measurement.

The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment.

September 30, 2025

March 31, 2026

Carrying Estimated Fair Value

13 unchanged sentences

Notes Payable 539,749 — 519,725 — 519,725

588,315 — 577,730 — 577,730

December 31, 2025

16 unchanged sentences

(1) Excludes $ 11,708 and $ 23,108 of U.S.

Treasury securities classified within Cash and Cash Equivalents on the Unaudited Condensed Consolidated Statements of Financial Condition as of September 30, 2025 and December 31, 2024, respectively.

Treasury securities classified within Cash and Cash Equivalents on the Unaudited Condensed Consolidated Statements of Financial Condition as of March 31, 2026 and December 31, 2025, respectively.

(2) Includes Accounts Receivable, as well as long-term receivables, which are included in Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.

3 unchanged sentences

On March 30, 2016, the Company issued an aggregate of $ 170,000 of senior notes, including:

$ 38,000 aggregate principal amount of its 4.88 % Series A senior notes which were due March 30, 2021 (the "Series A Notes"), $ 67,000 aggregate principal amount of its 5.23 % Series B senior notes which were originally due March 30, 2023 (the "Series B Notes"), $ 48,000 aggregate principal amount of its 5.48 % Series C senior notes due March 30, 2026 (the "Series C Notes") and $ 17,000 aggregate principal amount of its 5.58 % Series D senior notes due March 30, 2028 (the "Series D Notes" and together with the Series A Notes, the Series B Notes and the Series C Notes, the "2016 Private Placement Notes"), pursuant to a note purchase agreement dated as of

$ 38,000 aggregate principal amount of its 4.88 % Series A senior notes which were due and repaid on March 30, 2021 (the "Series A Notes"), $ 67,000 aggregate principal amount of its 5.23 % Series B senior notes which were originally due March 30, 2023 and prepaid on June 28, 2022 (the "Series B Notes"), $ 48,000 aggregate principal amount of its 5.48 % Series C senior notes which were due and repaid on March 30, 2026 (the "Series C Notes") and $ 17,000 aggregate principal amount of its 5.58 % Series D senior notes due March 30, 2028 (the "Series D Notes" and together with the Series A Notes, the Series B Notes and the Series C Notes, the "2016 Private Placement Notes"), pursuant to a note purchase agreement dated as of March 30, 2016 (the "2016 Note Purchase Agreement") and amended on July 10, 2025, among the Company and the purchasers party thereto in a private placement exempt from registration under the Securities Act of 1933.

In March 2026, the Company repaid the $ 48,000 aggregate principal amount of its Series C Notes.

On August 1, 2019, the Company issued $ 175,000 and £ 25,000 of senior unsecured notes through private placement.

These notes include:

$ 75,000 aggregate principal amount of its 4.34 % Series E senior notes due August 1, 2029 (the "Series E

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

March 30, 2016 (the "2016 Note Purchase Agreement") and amended on July 10, 2025, among the Company and the purchasers party thereto in a private placement exempt from registration under the Securities Act of 1933.

On August 1, 2019, the Company issued $ 175,000 and £ 25,000 of senior unsecured notes through private placement.

These notes include:

$ 75,000 aggregate principal amount of its 4.34 % Series E senior notes due August 1, 2029 (the "Series E Notes"), $ 60,000 aggregate principal amount of its 4.44 % Series F senior notes due August 1, 2031 (the "Series F Notes"), $ 40,000 aggregate principal amount of its 4.54 % Series G senior notes due August 1, 2033 (the "Series G Notes") and £ 25,000 aggregate principal amount of its 3.33 % Series H senior notes due August 1, 2033 (the "Series H Notes" and together with the Series E Notes, the Series F Notes and the Series G Notes, the "2019 Private Placement Notes"), each of which were issued pursuant to a note purchase agreement dated as of August 1, 2019 (the "2019 Note Purchase Agreement") and amended on July 10, 2025, among the Company and the purchasers party thereto in a private placement exempt from registration under the Securities Act of 1933.

On March 29, 2021, the Company issued $ 38,000 aggregate principal amount of its 1.97 % Series I senior notes which were due August 1, 2025 (the "Series I Notes" or the "2021 Private Placement Notes"), pursuant to a note purchase agreement dated as of March 29, 2021 (the "2021 Note Purchase Agreement"), among the Company and the purchasers party thereto in a private placement exempt from registration under the Securities Act of 1933.

In August 2025, the Company repaid the $ 38,000 aggregate principal amount of its Series I Notes.

Notes"), $ 60,000 aggregate principal amount of its 4.44 % Series F senior notes due August 1, 2031 (the "Series F Notes"), $ 40,000 aggregate principal amount of its 4.54 % Series G senior notes due August 1, 2033 (the "Series G Notes") and £ 25,000 aggregate principal amount of its 3.33 % Series H senior notes due August 1, 2033 (the "Series H Notes" and together with the Series E Notes, the Series F Notes and the Series G Notes, the "2019 Private Placement Notes"), each of which were issued pursuant to a note purchase agreement dated as of August 1, 2019 (the "2019 Note Purchase Agreement") and amended on July 10, 2025, among the Company and the purchasers party thereto in a private placement exempt from registration under the Securities Act of 1933.

On March 29, 2021, the Company issued $ 38,000 aggregate principal amount of its 1.97 % Series I senior notes which were due and repaid on August 1, 2025 (the "Series I Notes" or the "2021 Private Placement Notes"), pursuant to a note purchase agreement dated as of March 29, 2021 (the "2021 Note Purchase Agreement"), among the Company and the purchasers party thereto in a private placement exempt from registration under the Securities Act of 1933.

On June 28, 2022, the Company issued $ 67,000 aggregate principal amount of its 4.61 % Series J senior notes due November 15, 2028 (the "Series J Notes" or the "2022 Private Placement Notes"), pursuant to a note purchase agreement dated as of June 28, 2022 (the "2022 Note Purchase Agreement") and amended on July 10, 2025, among the Company and the purchasers party thereto in a private placement exempt from registration under the Securities Act of 1933.

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$ 125,000 aggregate principal amount of its 5.17 % Series K senior notes due July 24, 2030 (the "Series K Notes") and $ 125,000 aggregate principal amount of its 5.47 % Series L senior notes due July 24, 2032 (the "Series L Notes" and together with the Series K Notes, the "2025 Private Placement Notes"), pursuant to a note purchase agreement dated as of July 10, 2025 (the "2025 Note Purchase Agreement"), among the Company and the purchasers party thereto in a private placement exempt from registration under the Securities Act of 1933.

The Company intends to use a portion of the net proceeds from the issuance and sale of the 2025 Private Placement Notes to repay maturing notes in the next twelve months issued under prior note purchase agreements.

The remaining net proceeds will be used for general corporate purposes.

Interest on the above issuances is payable semi-annually and the notes are guaranteed by certain of the Company's domestic subsidiaries.

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Interest on the notes is subject to certain escalation provisions in the event that the leverage ratio exceeds certain thresholds.

As of September 30, 2025, the Company was in compliance with all of these covenants.

As of March 31, 2026, the Company was in compliance with all of these covenants.

Notes Payable is comprised of the following as of March 31, 2026 and December 31, 2025:

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

Notes Payable is comprised of the following as of September 30, 2025 and December 31, 2024:

Carrying Value (1)

Note Maturity Date Effective Annual Interest Rate September 30, 2025 December 31, 2024

Note Maturity Date Effective Annual Interest Rate March 31, 2026 December 31, 2025

Evercore Inc.

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Evercore Inc.

1.97 % Series I Senior Notes

8/1/2025 2.20 % — 37,951

Evercore Inc.

4.61 % Series J Senior Notes

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Stockholders' Equity

Dividends – On October 28, 2025, the Company's Board of Directors declared a quarterly cash dividend of $ 0.84 per share to the holders of record of the Company's Class A Shares as of November 28, 2025, which will be paid on December 12, 2025.

During the three and nine months ended September 30, 2025, the Company declared and paid dividends of $ 0.84 and $ 2.48 per share, respectively, totaling $ 32,519 and $ 96,155 , respectively, and accrued deferred cash dividends on unvested and vested restricted stock units ("RSUs") totaling $ 3,961 and $ 11,633 , respectively.

The Company also paid deferred cash dividends of $ 304 and $ 15,759 during the three and nine months ended September 30, 2025, respectively.

During the three and nine months ended September 30, 2024, the Company declared and paid dividends of $ 0.80 and $ 2.36 per share, respectively, totaling $ 30,426 and $ 90,373 , respectively, and accrued deferred cash dividends on unvested and vested RSUs totaling $ 4,115 and $ 12,145 , respectively.

The Company also paid deferred cash dividends of $ 411 and $ 14,609 during the three and nine months ended September 30, 2024, respectively.

Treasury Stock – During the three months ended September 30, 2025, the Company purchased 15 Class A Shares from employees at an average cost per share of $ 291.99 , primarily for the net settlement of stock-based compensation awards, and 160 Class A Shares at an average cost per share of $ 329.80 pursuant to the Company's share repurchase program.

The aggregate 175 Class A Shares were purchased at an average cost per share of $ 326.62 and the result of these purchases was an increase in Treasury Stock of $ 57,032 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2025.

During the nine months ended September 30, 2025, the Company purchased 944 Class A Shares from employees at an average cost per share of $ 283.77 , primarily for the net settlement of stock-based compensation awards, and 968 Class A Shares at an average cost per share of $ 246.16 pursuant to the Company's share repurchase program.

The aggregate 1,912 Class A Shares were purchased at an average cost per share of $ 264.72 and the result of these purchases was an increase in Treasury Stock of $ 506,197 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2025.

During the first, second and third quarter of 2025, the Company entered into an agreement to purchase 200 , 170 and 100 Class A Shares, respectively, from Ed Hyman, who until February 10, 2025 was an executive officer of the Company, at a price of $ 206.19 , $ 237.79 and $ 327.09 per share, respectively, resulting in a total purchase price of $ 41,238 , $ 40,425 and $ 32,709 , respectively.

These purchases were made pursuant to the Company's share repurchase program and are included within the above treasury stock purchases for the three and nine months ended September 30, 2025.

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

Evercore LP Units – During the three and nine months ended September 30, 2025, 107 and 217 Evercore LP partnership units ("LP Units"), respectively, were exchanged for Class A Shares, resulting in an increase to Class A Common Stock of $ 1 and $ 2 for the three and nine months ended September 30, 2025, respectively, and an increase to Additional Paid-In Capital of $ 11,805 and $ 22,771 for the three and nine months ended September 30, 2025, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition.

See Note 13 for further information.

During the nine months ended September 30, 2025, the Company issued 2 Class A limited partnership units of Evercore LP ("Class A LP Units").

See Note 13 for further information.

Accumulated Other Comprehensive Income (Loss) – As of September 30, 2025, Accumulated Other Comprehensive Income (Loss) on the Company's Unaudited Condensed Consolidated Statement of Financial Condition includes an accumulated Unrealized Gain (Loss) on Securities and Investments, net, and Foreign Currency Translation Adjustment Gain (Loss), net, of $ 44 and ($ 15,227 ), respectively.

The redemption of the Company's interest in Luminis in the third quarter of 2024 resulted in the reclassification of $ 581 of cumulative foreign currency translation losses from Accumulated Other Comprehensive Income (Loss) on the Unaudited Condensed Consolidated Statement of Financial Condition to Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024.

Dividends – On April 28, 2026, the Company's Board of Directors declared a quarterly cash dividend of $ 0.89 per share to the holders of record of the Company's Class A Shares as of May 29, 2026, which will be paid on June 12, 2026.

During the three months ended March 31, 2026, the Company declared and paid dividends of $ 0.84 per share, totaling $ 32,990 , and accrued deferred cash dividends on restricted stock units ("RSUs") totaling $ 3,723 .

During the three months ended March 31, 2026, the Company also paid deferred cash dividends of $ 16,800 .

During the three months ended March 31, 2025, the Company declared and paid dividends of $ 0.80 per share, totaling $ 31,216 , and accrued deferred cash dividends on RSUs totaling $ 3,763 .

During the three months ended March 31, 2025, the Company also paid deferred cash dividends of $ 15,236 .

Treasury Stock – During the three months ended March 31, 2026, the Company purchased 904 Class A Shares from employees at an average cost per share of $ 344.71 , primarily for the net settlement of stock-based compensation awards, and 1,026 Class A Shares at an average cost per share of $ 302.01 pursuant to the Company's share repurchase program.

The aggregate 1,930 Class A Shares were purchased at an average cost per share of $ 322.00 and the result of these purchases was an increase in Treasury Stock of $ 621,349 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of March 31, 2026.

Evercore LP Units – During the three months ended March 31, 2026, 65 Evercore LP partnership units ("LP Units") were exchanged for Class A Shares, resulting in an increase to Class A Common Stock and Additional Paid-In Capital of $ 1 and $ 6,855 , respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of March 31, 2026.

See Note 13 for further information.

Accumulated Other Comprehensive Income (Loss) – As of March 31, 2026, Accumulated Other Comprehensive Income (Loss) on the Company's Unaudited Condensed Consolidated Statement of Financial Condition includes an accumulated Unrealized Gain (Loss) on Securities and Investments, net, and Foreign Currency Translation Adjustment Gain (Loss), net, of ($ 44 ) and ($ 23,155 ), respectively.

Note 13 – Noncontrolling Interest

Noncontrolling Interest recorded in the unaudited condensed consolidated financial statements of the Company relates to the following approximate interests in certain consolidated subsidiaries, which are not owned by the Company:

In circumstances where the governing documents of the entity to which the noncontrolling interest relates require special allocations of profits or losses to the controlling and noncontrolling interest holders, the net income or loss of these entities is allocated based on these special allocations.

Noncontrolling ownership interests for the Company's subsidiaries were as follows:

As of September 30,

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

As of March 31,

Evercore LP 6 % 6 %

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See Note 14 for further information.

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

Changes in Noncontrolling Interest for the three and nine months ended September 30, 2025 and 2024 were as follows:

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2025 2024 2025 2024

Changes in Noncontrolling Interest for the three months ended March 31, 2026 and 2025 were as follows:

For the Three Months Ended March 31,

Beginning balance $ 288,290 $ 234,166

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Evercore LP Units Exchanged for Class A Shares ( 6,856 ) ( 2,195 )

Amortization and Vesting of LP Units and EWM Class A Units (see Note 15) 20,977 16,158 53,551 31,987

Amortization and Vesting of LP Units (see Note 15) and EWM Class A Units 16,140 12,727

Distributions to Noncontrolling Interests ( 11,633 ) ( 8,365 )

Issuance of Noncontrolling Interest — 517

Purchase of Noncontrolling Interest ( 117 ) — ( 156 ) ( 67 )

Total Other Items ( 11,633 ) ( 7,848 )

Ending balance $ 306,515 $ 245,095

Other Comprehensive Income – Other Comprehensive Income (Loss) Attributed to Noncontrolling Interest includes unrealized gains (losses) on securities and investments, net, of $ 7 and ($ 10 ) for the three and nine months ended September 30, 2025, respectively, and ($ 6 ) and ($ 10 ) for the three and nine months ended September 30, 2024, respectively, and foreign currency translation adjustment gains (losses), net, of ($ 341 ) and $ 1,705 for the three and nine months ended September 30, 2025, respectively, and $ 924 and $ 563 for the three and nine months ended September 30, 2024, respectively.

The redemption of the Company's interest in Luminis in the third quarter of 2024 resulted in the reclassification of $ 77 of cumulative foreign currency translation losses from Noncontrolling Interest on the Unaudited Condensed Consolidated Statement of Financial Condition to Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024.

See Note 8 for further information.

Evercore LP Units – During the three and nine months ended September 30, 2025, 107 and 217 LP Units, respectively, were exchanged for Class A Shares.

This resulted in a decrease to Noncontrolling Interest of $ 11,806 and $ 22,773 for the three and nine months ended September 30, 2025, respectively, an increase to Class A Common Stock of $ 1 and $ 2 for the three and nine months ended September 30, 2025, respectively, and an increase to Additional Paid-In Capital of $ 11,805 and $ 22,771 for the three and nine months ended September 30, 2025, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition.

See Note 12 for further information.

During the nine months ended September 30, 2025, the Company issued 2 Class A LP Units.

This resulted in an increase to Noncontrolling Interest of $ 517 for the nine months ended September 30, 2025, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2025.

Other Comprehensive Income – Other Comprehensive Income (Loss) Attributed to Noncontrolling Interest includes unrealized losses on securities and investments, net, of ($ 12 ) and ($ 17 ) for the three months ended March 31, 2026 and 2025, respectively, and foreign currency translation adjustment gains (losses), net, of ($ 900 ) and $ 656 for the three months ended March 31, 2026 and 2025, respectively.

Evercore LP Units – During the three months ended March 31, 2026, 65 LP Units were exchanged for Class A Shares.

This resulted in a decrease to Noncontrolling Interest of $ 6,856 and increases to Class A Common Stock and Additional Paid-In Capital of $ 1 and $ 6,855 , respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of March 31, 2026.

See Note 12 for further information.

EWM Class A Units – During the second quarter of 2025 and 2024, the Company granted 395 and 297 EWM Class A Units, respectively, which generally vest ratably over three years .

Compensation expense related to EWM Class A Units was $ 724 and $ 1,798 for the three and nine months ended September 30, 2025, respectively, and $ 298 and $ 755 for the three and nine months ended September 30, 2024, respectively.

Compensation expense related to EWM Class A Units was $ 525 and $ 238 for the three months ended March 31, 2026 and 2025, respectively.

Interests Purchased – During the second quarter of 2025, the Company purchased, at fair value, an additional 0.1 % of EWM Class A Units for $ 1,259 .

The Company has also committed to purchase an additional 0.5 % of interests from individuals in equal tranches over the next three years , at fair value at the time of the purchase.

The Company recorded $ 770 and $ 1,319 in Payable to Employees and Related Parties and Other Long-term Liabilities, respectively, on the Unaudited Condensed

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

Interests Issued – During the second quarter of 2025, certain employees of EWM purchased EWM Class A Units, at fair value, resulting in an increase to Noncontrolling Interest of $ 1,100 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2025.

Interests Purchased – During the nine months ended September 30, 2025, the Company purchased, at fair value, an additional 0.1 % of the EWM Class A Units for $ 1,259 .

The Company has also committed to purchase an additional 0.5 % of interests from individuals in equal tranches over the next three years , at fair value at the time of the purchase.

These transactions resulted in a decrease to Noncontrolling Interest of $ 156 and a decrease to Additional Paid-In Capital of $ 2,788 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2025.

The Company recorded $ 770 and $ 1,319 in Payable to Employees and Related Parties and Other Long-term Liabilities, respectively, on the Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2025, reflecting the current fair value of amounts committed to be purchased in the future and accrued distributions related to those interests.

The Company incurred expense of $ 539 within Interest Expense on the Unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2025 in conjunction with these arrangements.

During the second quarter of 2024, the Company purchased, at fair value, an additional 0.3 % of the EWM Class A Units for $ 1,036 .

This purchase resulted in a decrease to Noncontrolling Interest of $ 67 and a decrease to Additional Paid-In Capital of $ 969 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2024.

Consolidated Statements of Financial Condition as of March 31, 2026 and December 31, 2025, reflecting the current fair value of amounts committed to be purchased in the future and accrued distributions related to those interests.

The Company incurred expense of $ 113 within Interest Expense on the Unaudited Condensed Consolidated Statement of Operations for the three months ended March 31, 2026 in conjunction with these arrangements.

EWM Class P-I Units – In December 2025, the Company awarded 0.3 EWM Class P-I Units.

These EWM Class P-I Units convert into a number of EWM Class A Units contingent and based upon the achievement of certain market conditions related to the value of EWM Class A Units, defined benchmark results and continued service through June 30, 2028.

The number of EWM Class A Units received in conversion is dependent on the level of defined benchmarks achieved, as well as the value of EWM Class A Units at the time of conversion.

The EWM Class A Units received in conversion vest in three equal tranches on the first, second and third anniversaries of the date of conversion, subject to continued service.

As this award contains market, performance and service conditions, the expense for this award will be recognized over the service period of the award and will reflect the fair value of the underlying units, taking into account the probable outcome of the market condition being achieved, as well as the probable outcome of the performance condition.

As of March 31, 2026, the Company determined that the achievement of performance conditions of these awards were not probable and therefore no expense was recognized for the three months ended March 31, 2026.

Note 14 – Net Income Per Share Attributable to Evercore Inc.

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The calculations of basic and diluted net income per share attributable to Evercore Inc.

common shareholders for the three and nine months ended September 30, 2025 and 2024 are described and presented below.

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2025 2024 2025 2024

common shareholders for the three months ended March 31, 2026 and 2025 are described and presented below.

For the Three Months Ended March 31,

Basic Net Income Per Share Attributable to Evercore Inc.

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Additional shares of the Company's common stock assumed to be issued pursuant to non-vested RSUs, as calculated using the Treasury Stock Method (2)

2,748 2,952 2,296 2,539

Shares that are contingently issuable (3)

950 792 883 375

Diluted weighted average Class A Shares outstanding 41,850 42,058

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common shareholders $ 7.20 $ 3.48

(1) The Company has outstanding Class A, E, I and K LP Units, which give the holders the right to receive Class A Shares upon exchange on a one -for-one basis.

During the three and nine months ended September 30, 2025 and 2024, these LP Units were antidilutive and consequently the effect of their exchange into Class A Shares has been excluded from the calculation of diluted net income per share attributable to Evercore Inc.

(1) The Company has outstanding LP Units, which give the holders the right to receive Class A Shares upon exchange on a one -for-one basis.

During the three months ended March 31, 2026 and 2025, these LP Units were antidilutive and

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

consequently the effect of their exchange into Class A Shares has been excluded from the calculation of diluted net income per share attributable to Evercore Inc.

common shareholders.

The units that would have been included in the denominator of the computation of diluted net income per share attributable to Evercore Inc.

common shareholders if the effect would have been dilutive were 2,205 and 2,283 for the three and nine months ended September 30, 2025, respectively, and 2,475 and 2,547 for the three and nine months ended September 30, 2024, respectively.

The adjustment to the numerator, diluted net income attributable to Class A common shareholders, if the effect would have been dilutive, would have been $ 8,846 and $ 24,882 for the three and nine months ended September 30, 2025, respectively, and $ 6,719 and $ 17,945 for the three and nine months ended September 30, 2024, respectively.

In computing this adjustment, the Company assumes that all Class A, E, I and K LP Units are converted into Class A Shares, that all earnings attributable to those shares are attributed to Evercore Inc.

common shareholders if the effect would have been dilutive were 2,581 and 2,325 for the three months ended March 31, 2026 and 2025, respectively.

The adjustment to the numerator, diluted net income attributable to Class A common shareholders, if the effect would have been dilutive, would have been $ 21,703 and $ 9,556 for the three months ended March 31, 2026 and 2025, respectively.

In computing this adjustment, the Company assumes that all LP Units are converted into Class A Shares, that all earnings attributable to those shares are attributed to Evercore Inc.

and that the Company is subject to the statutory tax rates of a C-Corporation under a conventional corporate tax structure in the U.S.

at prevailing corporate tax rates.

The Company does not anticipate that the Class A, E, I and K LP Units will result in a dilutive computation in future periods.

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

(2) Certain shares of the Company's common stock assumed to be issued pursuant to non-vested RSUs, as calculated using the Treasury Stock Method, were antidilutive and consequently the effect of their exchange into Class A Shares has been excluded from the calculation of diluted net income per share attributable to Evercore Inc.

The Company does not anticipate that the LP Units will result in a dilutive computation in future periods.

(2) During the three months ended March 31, 2026 and 2025, certain shares of the Company's common stock assumed to be issued pursuant to non-vested RSUs, as calculated using the Treasury Stock Method, were antidilutive and consequently the effect of their exchange into Class A Shares has been excluded from the calculation of diluted net income per share attributable to Evercore Inc.

common shareholders.

The shares that would have been included in the treasury stock method calculation if the effect would have been dilutive were 1 for the three months ended September 30, 2024.

The shares that would have been included in the treasury stock method calculation if the effect would have been dilutive were 12 and 1,163 for the three months ended March 31, 2026 and 2025, respectively.

(3) The Company has outstanding Class K-P units of Evercore LP ("Class K-P Units") which are contingently exchangeable into Class K LP Units, and ultimately Class A Shares, as they are subject to certain performance thresholds being achieved.

The Company also has certain outstanding RSUs which vest contingent upon certain performance thresholds being achieved.

The Company also has certain outstanding RSUs and acquisition-related awards which vest contingent upon certain performance thresholds being achieved.

See Note 15 for further information.

For the purpose of calculating diluted net income per share attributable to Evercore Inc.

common shareholders, the Company's Class K-P Units and these certain outstanding RSUs are included in diluted weighted average Class A Shares outstanding, as calculated using the Treasury Stock Method, as of the beginning of the period in which all necessary performance conditions have been satisfied.

common shareholders, the Company's Class K-P Units and these certain outstanding RSUs and acquisition-related awards are included in diluted weighted average Class A Shares outstanding, as calculated using the Treasury Stock Method, as of the beginning of the period in which all necessary performance conditions have been satisfied.

If all necessary performance conditions have not been satisfied by the end of the period, the number of shares that are included in diluted weighted average Class A Shares outstanding is based on the number of shares that would be issuable if the end of the reporting period were the end of the performance period.

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As this award contains market, performance and service conditions, the expense for this award will be recognized over the service period of the award and will reflect the fair value of the underlying units as determined at the award's grant date, taking into account the probable outcome of the market condition being achieved, as well as the probable outcome of the performance condition.

These Class K-P Units may convert into a maximum of 800 Class K LP Units, contingent upon the achievement of certain market conditions, defined benchmark results and continued service as described above.

In December 2025, these Class K-P Units converted into 600 Class K LP Units upon the achievement of certain market conditions, defined benchmark results and service conditions.

• In December 2022, the Company awarded 200 Class K-P Units.

These Class K-P Units are segregated into four tranches of 50 Class K-P Units each.

The first three tranches each convert into 50 Class K LP Units (which are exchangeable on a one -for-one basis to Class A Shares) contingent and based upon the achievement of certain market conditions and continued service through February 28, 2025, 2026 and 2027, respectively, while the final tranche converts into a number of Class K LP Units (which are exchangeable on a one -for-one basis to Class A Shares) contingent and based upon the achievement of certain market conditions, defined benchmark results and continued service through February 28, 2028.

In February 2025, the first tranche of 50 Class K-P Units converted into 50 Class K LP Units upon the achievement of certain market and service conditions.

As this award contains market, performance and service conditions, the expense for this award will be recognized over the service period of the award and will reflect the fair value of the underlying units as determined at the award's grant date, taking into account the probable outcome of the market condition being achieved, as well as the probable outcome of the performance condition.

The remaining Class K-P Units may convert into a maximum of 270 Class K LP Units,

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

contingent upon the achievement of certain market conditions, defined benchmark results and continued service as described above.

tranche converts into a number of Class K LP Units (which are exchangeable on a one -for-one basis to Class A Shares) contingent and based upon the achievement of certain market conditions, defined benchmark results and continued service through February 28, 2028.

In February 2025 and 2026, each of the first and second tranches of 50 Class K-P Units converted into 50 Class K LP Units upon the achievement of certain market and service conditions.

The remaining Class K-P Units may convert into a maximum of 220 Class K LP Units, contingent upon the achievement of certain market conditions, defined benchmark results and continued service as described above.

• In June 2023, the Company awarded 60 Class K-P Units.

As this award contains market, performance and service conditions, the expense for this award will be recognized over the service period of the award and will reflect the fair value of the underlying units as determined at the award's grant date, taking into account the probable outcome of the market condition being achieved, as well as the probable outcome of the performance condition.

These Class K-P Units may convert into 60 Class K LP Units contingent upon the achievement of certain market conditions and continued service, while additional units may be received upon conversion based on the level of defined benchmark results achieved.

1 unchanged sentence

As this award contains market, performance and service conditions, the expense for this award will be recognized over the service period of the award and will reflect the fair value of the underlying units as determined at the award's grant date, taking into account the probable outcome of the market condition being achieved, as well as the probable outcome of the performance condition.

These Class K-P Units may convert into 328 Class K LP Units contingent upon the achievement of certain market conditions and continued service, while additional units may be received upon conversion based on the level of defined benchmark results achieved.

1 unchanged sentence

These Class K-P Units convert into a number of Class K LP Units (which are exchangeable on a one -for-one basis to Class A Shares) contingent and based upon the achievement of certain market conditions, defined benchmark results and continued service through April 1, 2029 for the first tranche, which consists of 17.5 Class K-P Units, and April 1, 2030 for the second tranche, which consists of 17.5 Class K-P Units.

As this award contains market, performance and service conditions, the expense for this award will be recognized over the service period of the award and will reflect the fair value of the underlying units as determined at the award's grant date, taking into account the probable outcome of the market condition being achieved, as well as the probable outcome of the performance condition.

These Class K-P Units may convert into a maximum of 100 Class K LP Units contingent upon the achievement of certain market conditions, defined benchmark results and continued service as described above.

1 unchanged sentence

These Class K-P Units convert into a number of Class K LP Units (which are exchangeable on a one -for-one basis to Class A Shares) contingent and based upon the achievement of certain market conditions, defined benchmark results and continued service through March 1, 2030 for the first tranche, which consists of 10 Class K-P Units, and March 1, 2031 for the second tranche, which consists of 10 Class K-P Units.

As this award contains market, performance and service conditions, the expense for this award will be recognized over the service period of the award and will reflect the fair value of the underlying units as determined at the award's grant date, taking into account the probable outcome of the market condition being achieved, as well as the probable outcome of the performance condition.

As of September 30, 2025, 1,093 unvested Class K-P Units were outstanding.

The Company determined the grant date fair value of these awards probable to vest as of September 30, 2025 to be $ 306,076 , related to 2,071 Class K LP Units which were probable of achievement, and recognizes expense for these units over the respective service periods.

Aggregate compensation expense related to the Class K-P Units was $ 20,253 and $ 51,752 for the three and nine months ended September 30, 2025, respectively, and $ 15,844 and $ 31,099 for the three and nine months ended September 30, 2024, respectively.

Class L Interests

In January 2023, 2024 and 2025, the Company's Board of Directors approved the issuance of Class L Interests of Evercore LP ("Class L Interests") to certain of the named executive officers of the Company, pursuant to which the named executive officers received a discretionary distribution of profits from Evercore LP, paid in the first quarters of 2024, 2025 and 2026, respectively.

Distributions pursuant to these interests are made in lieu of any cash incentive compensation payments

• In March 2026, the Company awarded 25 Class K-P Units.

These Class K-P Units convert into a number of Class K LP Units (which are exchangeable on a one -for-one basis to Class A Shares) contingent and based upon the achievement of certain market conditions, defined benchmark results and continued service through each of the three tranches on March 1, 2031, 2032 and 2033, which each consist of 8.3 Class K-P Units.

As these awards contain service, performance and, in certain issuances, market conditions, the expense for these awards is recognized over the service period of the award and reflects the fair value of the underlying units as determined at the award’s grant date, taking into account the probable outcome of the market condition being achieved, if applicable, as well as the probable outcome of the performance condition.

As of March 31, 2026, 668 unvested Class K-P Units were outstanding.

The Company determined the grant date fair value of these awards probable to vest as of March 31, 2026 to be $ 254,485 , related to 1,544 Class K LP Units which were probable of achievement, and recognizes expense for these units over the respective service periods.

Aggregate compensation expense related to the Class K-P Units was $ 15,615 and $ 12,489 for the three months ended March 31, 2026 and 2025, respectively.

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

which may otherwise have been made to the named executive officers of the Company in respect of their service for 2023, 2024 and 2025, respectively.

Class L Interests

In January 2024, 2025 and 2026, the Company's Board of Directors approved the issuance of Class L Interests of Evercore LP ("Class L Interests") to certain of the named executive officers of the Company, pursuant to which the named executive officers received a discretionary distribution of profits from Evercore LP, paid in the first quarters of 2025, 2026 and 2027, respectively.

Distributions pursuant to these interests are made in lieu of any cash incentive compensation payments which may otherwise have been made to those named executive officers of the Company in respect of their service for 2024, 2025 and 2026, respectively.

Following the distributions, the Class L Interests are cancelled pursuant to their terms.

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Class A Shares underlying any award granted under the Third Amended 2016 Plan that expire, terminate or are canceled or satisfied for any reason without being settled in stock again become available for awards under the plan.

The total shares available to be granted in the future under the Third Amended 2016 Plan was 6,621 as of September 30, 2025.

The Company also grants, at its discretion, dividend equivalents, in the form of deferred cash dividends or unvested RSU awards, concurrently with the payment of dividends to the holders of Class A Shares, on all unvested and vested RSU grants.

The total shares available to be granted in the future under the Third Amended 2016 Plan was 4,857 as of March 31, 2026.

The dividend equivalents have the same vesting and delivery terms as the underlying RSU award.

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Equity Grants

During the nine months ended September 30, 2025, pursuant to the Third Amended 2016 Plan, the Company granted employees 1,798 RSUs that are subject to service-based vesting requirements ("Service-based Awards").

Service-based Awards granted during the nine months ended September 30, 2025 had grant date fair values of $ 193.07 to $ 313.77 per share, with an average value of $ 258.02 per share, for an aggregate fair value of $ 463,812 , and generally vest ratably over four years .

During the nine months ended September 30, 2025, 2,093 Service-based Awards vested and 57 Service-based Awards were forfeited.

Compensation expense related to Service-based Awards was $ 89,383 and $ 269,515 for the three and nine months ended September 30, 2025, respectively, and $ 74,560 and $ 229,238 for the three and nine months ended September 30, 2024, respectively.

During the three months ended March 31, 2026, pursuant to the Third Amended 2016 Plan, the Company granted employees 1,630 RSUs that are subject to service-based vesting requirements ("Service-based Awards").

Service-based Awards granted during the three months ended March 31, 2026 had grant date fair values of $ 290.92 to $ 356.99 per share, with an average value of $ 327.15 per share, for an aggregate fair value of $ 533,209 , and generally vest ratably over four years .

During the three months ended March 31, 2026, 1,946 Service-based Awards vested and 12 Service-based Awards were forfeited.

Compensation expense related to Service-based Awards was $ 103,837 and $ 80,064 for the three months ended March 31, 2026 and 2025, respectively.

In addition, in June 2024, the Company granted 30 RSUs which may convert into a maximum of 80 RSUs contingent and based upon the achievement of certain defined benchmark results and continued service through April 1, 2031.

The grant date fair value of these awards probable to vest as of September 30, 2025 was $ 13,176 , related to 69 RSUs which were probable of achievement, and compensation expense related to these units was $ 1,383 and $ 2,335 for the three and nine months ended September 30, 2025, respectively, and $ 383 and $ 470 for the three and nine months ended September 30, 2024, respectively.

The grant date fair value of these awards probable to vest as of March 31, 2026 was $ 11,577 , related to 60 RSUs which were probable of achievement, and compensation expense related to these units was $ 964 and $ 343 for the three months ended March 31, 2026 and 2025, respectively.

Acquisition-related Awards

On October 1, 2025, in conjunction with the acquisition of Robey Warshaw, £ 71,250 ($ 95,767 ) was paid to the sellers in the form of 275 Class A Shares, of which £ 62,700 ($ 84,275 ) is subject to repayment if the sellers fail to provide service over a four-year period following closing.

The Company amortizes the payment subject to forfeiture over the requisite four-year service period.

Compensation expense related to this award was $ 6,143 for the three months ended March 31, 2026.

As of March 31, 2026, the total remaining expense to be recognized pursuant to this arrangement over the future vesting period is $ 70,854 .

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

In conjunction with the acquisition of Robey Warshaw, the Company will also deliver consideration in the form of Class A Shares if certain defined benchmark results are exceeded over a five-year performance period, beginning January 1, 2026.

This consideration is treated as compensation for accounting purposes.

The expense for this award will be recognized over the five-year performance period of the award and will reflect the fair value of the Class A Shares as determined at the award's grant date, as well as the probable outcome of the performance condition.

The Company determined that the performance conditions related to this award were not probable of achievement as of March 31, 2026.

The Company also granted 46 Service-based Awards in 2025 to certain former employees of Robey Warshaw, who joined the Company, as retention awards.

These awards had a grant date fair value of $ 15,419 and vest over a four-year service period.

The Company will recognize expense for these awards ratably over the service period.

Compensation expense related to these awards was $ 816 for the three months ended March 31, 2026, included in the above compensation expense related to Service-based Awards.

Deferred Cash

1 unchanged sentence

The Company granted $ 100,074 of deferred cash awards pursuant to the deferred cash compensation program during the first quarter of 2026.

Compensation expense related to the Company's deferred cash compensation program was $ 38,333 and $ 115,225 for the three and nine months ended September 30, 2025, respectively, and $ 40,116 and $ 128,221 for the three and nine months ended September 30, 2024, respectively.

As of September 30, 2025, the Company expects to pay an aggregate of $ 353,767 related to the Company's deferred cash compensation program at various dates through 2029 and total compensation expense not yet recognized related to these awards was $ 190,382 .

Compensation expense related to the Company's deferred cash compensation program was $ 36,163 and $ 38,560 for the three months ended March 31, 2026 and 2025, respectively.

As of March 31, 2026, the Company expects to pay an aggregate of $ 295,075 related to the Company's deferred cash compensation program at various dates through 2030 and total compensation expense not yet recognized related to these awards was $ 221,265 .

The weighted-average period over which this compensation cost is expected to be recognized is 33 months.

Amounts due pursuant to this program are expensed over the requisite service period of the award and are reflected in Accrued Compensation and Benefits on the Unaudited Condensed Consolidated Statement of Financial Condition.

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

Other Deferred Cash Awards – During the first quarter of 2026, 2025 and 2024, the Company granted $ 19,725 , $ 11,410 and $ 6,662 , respectively, of deferred cash awards to certain employees.

1 unchanged sentence

The Company also periodically grants performance-based deferred cash awards to certain employees.

Compensation expense related to other deferred cash awards was $ 4,898 and $ 10,915 for the three and nine months ended September 30, 2025, respectively, and $ 1,248 and $ 7,718 for the three and nine months ended September 30, 2024, respectively.

Compensation expense related to other deferred cash awards was $ 5,033 and $ 3,058 for the three months ended March 31, 2026 and 2025, respectively.

Long-term Incentive Plan

The Company's Long-term Incentive Plans provide for incentive compensation awards for Investment Banking Senior Managing Directors, excluding executive officers of the Company, who exceed defined benchmark results over four-year performance periods beginning January 1, 2021 (the "2021 Long-term Incentive Plan") and January 1, 2025 (the "2025 Long-term Incentive Plan", which was approved by the Company's Board of Directors in April 2025).

As of September 30, 2025, the Company has accrued $ 143,427 pursuant to the above Long-term Incentive Plans, including $ 71,997 within Accrued Compensation and Benefits and $ 71,430 within Other Long-term Liabilities, on the Unaudited Condensed Consolidated Statement of Financial Condition.

The performance period for the 2021 Long-term Incentive Plan ended on December 31, 2024 and in conjunction with this plan, the Company distributed cash payments of $ 71,522 in the nine months ended September 30, 2025.

Remaining amounts due pursuant to these plans are to be paid in cash or Class A Shares, at the Company's discretion, in the first quarter of 2026 and 2027 (for the 2021 Long-term Incentive Plan), and in the first quarter of 2029, 2030 and 2031 (for the 2025 Long-term Incentive Plan), subject to employment at the time of payment.

The Company's Long-term Incentive Plans provide for incentive compensation awards for Investment Banking Senior Managing Directors, excluding executive officers of the Company, who exceed defined benchmark results over four-year performance periods beginning January 1, 2021 (the "2021 Long-term Incentive Plan", which ended on December 31, 2024) and January 1, 2025 (the "2025 Long-term Incentive Plan", which was approved by the Company's Board of Directors in April 2025).

In conjunction with the 2021 Long-term Incentive Plan, the Company distributed cash payments of $ 71,910 and $ 71,522 in the three months ended March 31, 2026 and 2025, respectively.

Remaining amounts due pursuant to these plans are to be paid in cash or Class A Shares, at the Company's discretion, in the first quarter of 2027 (for the 2021 Long-term Incentive Plan), and in the first quarter of 2029, 2030 and 2031 (for the 2025 Long-term Incentive Plan), subject to employment at the time of payment.

As of March 31, 2026, the Company has accrued $ 123,948 pursuant to the above Long-term Incentive Plans, including $ 60,111 within Accrued Compensation and Benefits and $ 63,837 within Other Long-term Liabilities, on the Unaudited Condensed Consolidated Statement of Financial Condition.

The Company periodically assesses the probability of the benchmarks being achieved and expenses the probable payout over the requisite service period of the award.

The Company recorded compensation expense related to these plans of $ 21,617 and $ 48,472 for the three and nine months ended September 30, 2025, respectively, and $ 10,792 and $ 30,542 for the three and nine months ended September 30, 2024, respectively.

As of September 30, 2025, the total remaining expense to be recognized for the 2021 Long-term Incentive Plan over the future vesting period ending March 15, 2027 is $ 24,549 .

As of September 30, 2025, the total remaining expense to be recognized for the 2025 Long-term Incentive Plan over the future vesting period ending March 14, 2031, based on the current anticipated probable payout for the plan, is $ 249,956 .

The Company recorded compensation expense related to these plans of $ 32,277 and $ 10,478 for the three months ended March 31, 2026 and 2025, respectively.

As of March 31, 2026, the total remaining expense to be recognized for the 2021 Long-term Incentive Plan over the future vesting period ending March 15, 2027 is $ 11,687 .

As of March 31, 2026, the total remaining expense to be recognized for the 2025 Long-term Incentive Plan over the future vesting period ending March 14, 2031, based on the current anticipated probable payout for the plan, is $ 272,342 .

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

Employee Loans Receivable

2 unchanged sentences

In circumstances where the employee meets the Company's minimum credit standards, the Company amortizes these awards to compensation expense over the relevant service period, which is generally the period they are subject to forfeiture.

Compensation expense related to these awards was $ 12,597 and $ 34,138 for the three and nine months ended September 30, 2025, respectively, and $ 10,591 and $ 28,923 for the three and nine months ended September 30, 2024, respectively.

As of September 30, 2025, the total compensation cost not yet recognized related to these awards was $ 69,635 .

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

Compensation expense related to these awards was $ 11,281 and $ 8,952 for the three months ended March 31, 2026 and 2025, respectively.

As of March 31, 2026, the total compensation cost not yet recognized related to these awards was $ 87,110 .

Separation and Transition Benefits

The following table presents the change in the Company's liability related to separation benefits, stay arrangements and accelerated deferred cash compensation (together, "Termination Costs") for the nine months ended September 30, 2025 and 2024:

For the Nine Months Ended September 30,

For the Three Months Ended March 31,

Beginning Balance $ 961 $ 1,181

3 unchanged sentences

Ending Balance $ 2,454 $ 1,190

In addition to the above Termination Costs incurred, the Company also incurred expenses related to the acceleration of the amortization of share-based payments previously granted to affected employees of $ 2,002 and $ 7,946 for the three and nine months ended September 30, 2025, respectively, (related to 63 RSUs) and $ 842 and $ 4,335 for the three and nine months ended September 30, 2024, respectively, (related to 38 RSUs) recorded in Employee Compensation and Benefits, principally within the Investment Banking & Equities segment, on the Company's Unaudited Condensed Consolidated Statements of Operations.

In addition to the above Termination Costs incurred, for the three months ended March 31, 2026 and 2025, the Company also incurred expenses related to the acceleration of the amortization of share-based payments previously granted to affected employees of $ 1,363 and $ 3,195 , respectively (related to 7 and 31 RSUs, respectively) recorded in Employee Compensation and Benefits, principally within the Investment Banking & Equities segment, on the Company's Unaudited Condensed Consolidated Statements of Operations.

Note 16 – Commitments and Contingencies

For a further discussion of the Company's commitments, refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2025.

Private Equity – As of September 30, 2025, the Company had unfunded commitments for capital contributions of $ 2,584 to private equity funds.

Private Equity – As of March 31, 2026, the Company had unfunded commitments for capital contributions of $ 2,486 to private equity funds.

These commitments will be funded as required through the end of each private equity fund's investment period, subject to certain conditions.

4 unchanged sentences

In addition, the agreement contains certain reporting covenants, as well as certain debt covenants, that prohibit East and the Company from incurring other indebtedness, subject to specified exceptions.

The Company and its consolidated subsidiaries were in compliance with these covenants as of March 31, 2026.

Drawings for this facility bear interest at Daily SOFR plus 130 basis points and the maturity date was extended to July 10, 2028.

There were no drawings under this facility at September 30, 2025.

There were no drawings under this facility at March 31, 2026.

EGL maintains a subordinated revolving credit facility with PNC, as amended on October 10, 2025, in an aggregate principal amount of up to $ 75,000 , to be used as needed in support of capital requirements from time to time of EGL.

1 unchanged sentence

The interest rate provisions are Daily SOFR plus 130 basis points and the maturity date is October 10, 2029.

There were no drawings under this facility at September 30, 2025.

In addition, EGL's clearing broker provides temporary funding for the settlement of securities transactions.

There were no drawings under this facility at March 31, 2026.

EVERCORE INC.

1 unchanged sentence

(amounts in thousands, except per share amounts, unless otherwise noted)

In addition, EGL's clearing broker provides temporary funding for the settlement of securities transactions.

Other Commitments – The Company entered into commitments to pay additional consideration, including contingent consideration and certain other contingent compensation arrangements related to its acquisition of Robey Warshaw in 2025.

See Notes 5 and 15 for further information.

Restricted Cash – The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Unaudited Condensed Consolidated Statements of Financial Condition that sum to the total of amounts shown in the Unaudited Condensed Consolidated Statements of Cash Flows:

September 30,

Cash and Cash Equivalents $ 985,987 $ 552,954

3 unchanged sentences

The restrictions will lapse when the leases end.

Self-Funded Medical Insurance Program – Effective January 1, 2023, the Company changed its medical insurance plan in the U.S.

from a fully insured to a self-funded plan.

The Company is liable for the funding of claims under the self-funded plan.

The Company also maintains stop-loss insurance for its medical plan to provide coverage for claims over a defined financial threshold.

The estimated present value of incurred but not reported claims is $ 3,585 and $ 3,268 as of September 30, 2025 and December 31, 2024, respectively, which is included within Accrued Compensation and Benefits on the Unaudited Condensed Consolidated Statements of Financial Condition.

Foreign Exchange – Periodically, the Company enters into foreign currency exchange forward contracts as an economic hedge against exchange rate risk for foreign currency denominated accounts receivable or other commitments.

During the third quarter of 2025, the Company entered into a foreign currency exchange forward contract to buy 200,000 British Pounds sterling for $ 270,600 , which settled during the third quarter of 2025, and a foreign currency exchange forward contract to sell 71,250 British Pounds sterling for $ 96,401 , which settled in October 2025.

The outstanding contract is recorded at its fair value of $ 573 within Other Current Assets on the Unaudited Condensed Consolidated Statement of Financial Condition as of September 30, 2025.

The Company recorded a net loss on these contracts of $ 1,097 for the three and nine months ended September 30, 2025, which is included within Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations.

During the third quarter of 2023, the Company entered into a foreign currency exchange forward contract to buy 30,000 British Pounds sterling for $ 36,675 , which settled during the first quarter of 2024, and resulted in a loss of $ 347 for the nine months ended September 30, 2024.

Self-Funded Medical Insurance Program – The Company's medical insurance plan in the U.S.

is a self-funded plan and the Company is liable for the funding of claims under the plan.

The Company maintains stop-loss insurance for its medical plan to provide coverage for claims over a defined financial threshold.

The estimated present value of incurred but not reported or paid claims is $ 5,380 and $ 4,821 as of March 31, 2026 and December 31, 2025, respectively, which is included within Accrued Compensation and Benefits on the Unaudited Condensed Consolidated Statements of Financial Condition.

Contingencies

In the normal course of business, from time to time, the Company and its affiliates are involved in judicial or regulatory proceedings, arbitration or mediation concerning matters arising in connection with the conduct of its businesses, including contractual and employment matters.

In addition, United Kingdom, German, Hong Kong, Singapore, Canadian, Dubai, Indonesian and United States government agencies and self-regulatory organizations, as well as state securities commissions in the United States, conduct periodic examinations and initiate administrative proceedings regarding the Company's business, including, among other matters, accounting and operational matters, that can result in censure, fine, the issuance of cease-and-desist orders or the suspension or expulsion of a broker-dealer, investment advisor, or its directors, officers or employees.

In addition, United Kingdom, German, Hong Kong, Singapore, Canadian, Dubai, Saudi, Indonesian and United States government agencies and self-regulatory organizations, as well as state securities commissions in the United States, conduct periodic examinations and initiate administrative proceedings regarding the Company's business, including, among other matters, accounting and operational matters, that can result in censure, fine, the issuance of cease-and-desist orders or the suspension or expulsion of a broker-dealer, investment advisor, or its directors, officers or employees.

In view of the inherent difficulty of determining whether any loss in connection with such matters is probable and whether the amount of such loss can be reasonably estimated, particularly in cases where claimants seek substantial or indeterminate damages or where investigations and proceedings are in the early stages, the Company cannot estimate the amount of such loss or range of loss, if any, related to such matters, how or if such matters will be resolved, when they will ultimately be resolved, or what the eventual settlement, fine, penalty or other relief, if any, might be.

2 unchanged sentences

Once established, such provisions are adjusted when there is more information available or when an event occurs requiring a change.

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

The Company and its subsidiaries are subject to employment and tax laws, regulations and treaties in various U.S.

3 unchanged sentences

While that challenge remains subject to a judicial review process, and the Company and its subsidiaries are not a party to the proceedings, the ultimate outcome may adversely impact the Company’s tax position.

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

Note 17 – Regulatory Authorities

2 unchanged sentences

Under the Alternative Net Capital Requirement, EGL's minimum net capital requirement is $ 250 .

EGL's regulatory net capital as of September 30, 2025 and December 31, 2024 was $ 346,806 and $ 475,936 , respectively, which exceeded the minimum net capital requirement by $ 346,556 and $ 475,686 , respectively.

EGL's regulatory net capital as of March 31, 2026 and December 31, 2025 was $ 525,169 and $ 373,081 , respectively, which exceeded the minimum net capital requirement by $ 524,919 and $ 372,831 , respectively.

Evercore Trust Company, N.A.

1 unchanged sentence

The Company, Evercore LP and ETC are subject to written agreements with the OCC that, among other things, require the Company and Evercore LP to maintain at least $ 5,000 in Tier 1 capital in ETC (or such other amount as the OCC may require) and maintain liquid assets in ETC in an amount at least equal to the greater of $ 3,500 or 180 days coverage of ETC's operating expenses.

The Company was in compliance with the aforementioned agreements as of September 30, 2025.

The Company was in compliance with the aforementioned agreements as of March 31, 2026.

Evercore U.K., our U.K.

Advisory affiliate, and Evercore ISI U.K., our U.K.

Equities affiliate, are regulated by the Financial Conduct Authority.

The aggregate regulatory net capital of these affiliates as of September 30, 2025 and December 31, 2024 was $ 570,360 and $ 232,039 , respectively, which exceeded the minimum requirement by $ 273,045 and $ 139,208 , respectively.

Advisory affiliate, is regulated by the Financial Conduct Authority.

The regulatory capital requirement of Evercore U.K.

as of March 31, 2026 and December 31, 2025 was $ 290,884 and $ 296,406 , respectively.

The Company's regulatory capital was in excess of these requirements.

Certain other non-U.S.

subsidiaries are subject to various securities and banking regulations and capital adequacy requirements promulgated by the regulatory and exchange authorities of the countries in which they operate.

These subsidiaries are in excess of their local capital adequacy requirements at September 30, 2025.

These subsidiaries are in excess of their local capital adequacy requirements at March 31, 2026.

Note 18 – Income Taxes

The Company's Provision for Income Taxes was $ 59,794 and $ 62,332 for the three and nine months ended September 30, 2025, respectively, and $ 34,971 and $ 56,659 for the three and nine months ended September 30, 2024, respectively.

The effective tax rate was 27.5 % and 13.0 % for the three and nine months ended September 30, 2025, respectively, and 28.4 % and 17.7 % for the three and nine months ended September 30, 2024, respectively.

The effective tax rate reflects the recognition of net excess tax benefits associated with appreciation in the Company's share price upon vesting of employee share-based awards above the original grant price of $ 76,450 and $ 31,976 for the nine months ended September 30, 2025 and 2024, respectively, which resulted in a reduction in the effective tax rate of 15.9 and 10.0 percentage points for the nine months ended September 30, 2025 and 2024, respectively.

The effective tax rate for 2025 and 2024 also reflects the effect of certain non-deductible expenses and state and local apportionment adjustments.

The Company's Provision (Benefit) for Income Taxes was $ 9,056 and ($ 41,727 ) for the three months ended March 31, 2026 and 2025, respectively.

The effective tax rate was 2.7 % and ( 37.2 %) for the three months ended March 31, 2026 and 2025, respectively.

The effective tax rate reflects the recognition of net excess tax benefits associated with appreciation in the Company's share price upon vesting of employee share-based awards above the original grant price of $ 88,528 and $ 74,311 for the three months ended March 31, 2026 and 2025, respectively, which resulted in a reduction in the effective tax rate of 26.7 and 66.3 percentage points for the three months ended March 31, 2026 and 2025, respectively.

The effective tax rate for the three months ended March 31, 2026 and 2025 also reflects the effect of certain nondeductible expenses, including expenses related to Class K-P Units, as well as the noncontrolling interest associated with LP Units and other adjustments.

In October 2021, members of the Organization for Economic Co-operation and Development ("OECD") agreed on a two-pillar tax framework to realign international taxation with economic activities, including a coordinated set of rules designed to ensure large multinational enterprises pay a minimum 15% tax rate across all jurisdictions, known as Pillar Two.

has not yet adopted these rules, but several countries have enacted Pillar Two with an effective date beginning January 1, 2024.

On January 5, 2026, the OECD announced the implementation of a side-by-side ("SbS") system, which allows U.S.-parented multinationals to be exempt from certain components of the global minimum tax due to having an eligible taxation system already in place under existing U.S.

The SbS system is effective for fiscal years beginning on or after January 1, 2026.

The impact of Pillar Two on the Company's effective tax rate during the year was not material and it is not expected to materially impact the Company's effective tax rate in the future.

Additionally, the Company is subject to the income tax effects associated with the global intangible low-taxed income ("GILTI") provisions in the period incurred.

For the three and nine months ended September 30, 2025 and 2024, no additional income tax expense associated with the GILTI provisions has been recognized and it is not expected to be material to the Company's effective tax rate for the year.

The Company recorded an increase in deferred tax assets of $ 42 associated with changes in Unrealized Gain (Loss) on Securities and Investments and a decrease of $ 7,457 associated with changes in Foreign Currency Translation Adjustment Gain (Loss), in Accumulated Other Comprehensive Income (Loss), for the nine months ended September 30, 2025.

For the three months ended March 31, 2026 and 2025, no additional income tax expense associated with the GILTI provisions has been recognized and it is not expected to be material to the Company's effective tax rate for the year.

On July 4, 2025, the United States enacted House Resolution 1 of the 119th Congress ("the Act").

The Act makes permanent key elements of the Tax Cuts and Jobs Act, including 100% bonus depreciation, domestic research cost expensing, and beginning after December 31, 2025, updates for Net CFC Tested Income (formerly GILTI), which is not expected to materially impact the Company’s effective tax rate for the year.

The Company recorded an increase in deferred tax assets of $ 47 associated with changes in Unrealized Gain (Loss) on Securities and Investments and an increase of $ 3,528 associated with changes in Foreign Currency Translation Adjustment Gain (Loss), in Accumulated Other Comprehensive Income (Loss), for the three months ended March 31, 2026.

The Company recorded an increase in deferred tax assets of $ 73 associated with changes in Unrealized Gain (Loss) on Securities and

EVERCORE INC.

1 unchanged sentence

(amounts in thousands, except per share amounts, unless otherwise noted)

recorded an increase in deferred tax assets of $ 37 associated with changes in Unrealized Gain (Loss) on Securities and Investments and a decrease of $ 2,247 associated with changes in Foreign Currency Translation Adjustment Gain (Loss), in Accumulated Other Comprehensive Income (Loss), for the nine months ended September 30, 2024.

Investments and a decrease of $ 2,784 associated with changes in Foreign Currency Translation Adjustment Gain (Loss), in Accumulated Other Comprehensive Income (Loss), for the three months ended March 31, 2025.

The Company classifies interest relating to tax matters and tax penalties as a component of income tax expense in its Unaudited Condensed Consolidated Statements of Operations.

As of September 30, 2025, there were $ 125 of unrecognized tax benefits that, if recognized, $ 102 would affect the effective tax rate.

Related to the unrecognized tax benefits, the Company accrued interest of $ 2 during the three months ended September 30, 2025.

On July 4, 2025, the United States enacted House Resolution 1 of the 119th Congress ("the Act").

The Company is still evaluating the impact of the Act which is not expected to materially impact the Company’s effective tax rate for the year.

As of March 31, 2026, there were $ 126 of unrecognized tax benefits that, if recognized, $ 103 would affect the effective tax rate.

Related to the unrecognized tax benefits, the Company accrued interest of $ 2 during the three months ended March 31, 2026.

Note 19 – Segment Operating Results

2 unchanged sentences

The Investment Banking & Equities segment includes providing advice to clients on significant mergers, acquisitions, divestitures and other strategic corporate transactions, as well as services related to securities underwriting, private placement services and commissions for agency-based equity trading services and equity research.

The Investment Banking & Equities segment also includes an interest in Seneca Evercore, which is accounted for under the equity method of accounting, and previously included an interest in Luminis (through September 2024).

The Investment Management segment includes Wealth Management and interests in private equity funds which are not managed by the Company, as well as an interest in Atalanta Sosnoff, which is accounted for under the equity method of accounting, and previously included an interest in ABS (through July 2024).

The Investment Banking & Equities segment also includes an interest in Seneca Evercore, which is accounted for under the equity method of accounting.

The Company's segment information is prepared using the following methodology:

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• Interest income, including accretion, and income (losses) on investment securities, including the Company's investment funds (which are used as an economic hedge against the Company's deferred cash compensation program), certificates of deposit, cash and cash equivalents and long-term accounts receivable

• A gain on the sale of the remaining portion of the Company's interest in ABS in the third quarter of 2024.

See Note 8 for further information

• A loss related to the release of cumulative foreign exchange losses resulting from the redemption of the Company's interest in Luminis in the third quarter of 2024.

See Note 8 for further information

• Gains (losses) resulting from foreign currency exchange rate fluctuations and foreign currency exchange forward contracts used as an economic hedge against exchange rate risk for foreign currency denominated accounts receivable or other commitments

• Realized and unrealized gains and losses on interests in private equity funds which are not managed by the Company

• Interest expense associated with the Company’s Notes Payable, lines of credit and other financing arrangements

EVERCORE INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except per share amounts, unless otherwise noted)

• Interest expense associated with the Company’s Notes Payable, lines of credit and other financing arrangements, including interest expense related to deferred acquisition consideration and mandatorily redeemable interests

• Adjustments to amounts due pursuant to the Company’s tax receivable agreement, subsequent to its initial establishment, related to changes in enacted tax rates

2 unchanged sentences

Such corporate services include, but are not limited to, accounting, tax, legal, technology, human capital, facilities management and senior management activities.

Additionally, the Company's segment expenses for the three and nine months ended September 30, 2024 also include Special Charges, Including Business Realignment Costs, related to the write-off of the remaining carrying value of the Company's investment in Luminis in connection with the redemption of the Company's interest.

The prior period reclassifications from "Professional Fees" to "Technology and Information Services" for the Investment Banking & Equities segment are as follows:

$ 9,950 for the three months ended March 31, 2025;

$ 8,792 , $ 9,598 , $ 10,199 and $ 9,947 for the three months ended March 31, 2024, June 30, 2024, September 30, 2024 and December 31, 2024, respectively, and $ 38,536 for the twelve months ended December 31, 2024;

$ 8,356 , $ 7,960 , $ 8,987 and $ 8,843 for the three months ended March 31, 2023, June 30, 2023, September 30, 2023 and December 31, 2023, respectively, and $ 34,146 for the twelve months ended December 31, 2023.

See Note 2 for further information.

The prior period reclassifications from "Professional Fees" to "Technology and Information Services" for the Investment Management segment are as follows:

$ 273 for the three months ended March 31, 2025;

$ 217 , $ 253 , $ 266 and $ 249 for the three months ended March 31, 2024, June 30, 2024, September 30, 2024 and December 31, 2024, respectively, and $ 985 for the twelve months ended December 31, 2024;

$ 211 , $ 226 , $ 254 and $ 223 for the three months ended March 31, 2023, June 30, 2023, September 30, 2023 and December 31, 2023, respectively, and $ 914 for the twelve months ended December 31, 2023.

See Note 2 for further information.

The Company evaluates segment results based on net revenues and pre-tax income.

The Company's resources are allocated and performance is assessed by the Company's CEO and Chairman, whom the Company has determined to be the CODM.

For both segments, the CODM reviews net revenues and pre-tax income against current and past performance on a quarterly basis when making decisions about allocating resources to the segments, inclusive of decisions regarding new hires, expansion into new geographical locations and entering into material contracts, including lease agreements and significant investments in technology.

The CODM also uses these measures in determining appropriate levels of employee compensation.

No client accounted for more than 10% of the Company's Consolidated Net Revenues for the three and nine months ended September 30, 2025 and 2024, respectively.

The following information presents each segment's contribution.

The Company's resources are allocated and performance is assessed by the Company's CEO and Chairman, whom the Company has determined to be the

EVERCORE INC.

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(amounts in thousands, except per share amounts, unless otherwise noted)

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2025 2024 2025 2024

Chief Operating Decision Maker ("CODM").

The CODM also uses these measures in determining appropriate levels of employee compensation.

No client accounted for more than 10% of the Company's Consolidated Net Revenues for the three months ended March 31, 2026 and 2025.

The following information presents each segment's contribution.

For the Three Months Ended March 31,

Investment Banking & Equities

4 unchanged sentences

152,656 119,774

Special Charges, Including Business Realignment Costs — 7,305 — 7,305

Operating Income 326,940 106,729

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Non-Compensation (2)

4,201 3,821 12,304 11,002

Operating Income 3,786 4,455

7 unchanged sentences

156,782 123,820

Special Charges, Including Business Realignment Costs — 7,305 — 7,305

Operating Income 330,726 111,184

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(1) Net Revenues include Other Revenue, net, allocated to the segments as follows:

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2025 2024 2025 2024

For the Three Months Ended March 31,

Investment Banking & Equities (A)

$ 6,285 $ 7,818

Investment Management 215 892 504 1,294

Investment Management (B)

Total Other Revenue, net $ 6,470 $ 7,132

(A) Other Revenue, net, from the Investment Banking & Equities segment includes interest expense on the Notes Payable, lines of credit and other financing arrangements of $ 7,110 and $ 15,513 for the three and nine months ended September 30, 2025, respectively, and $ 4,198 and $ 12,575 for the three and nine months ended September 30, 2024, respectively.

(A) Other Revenue, net, from the Investment Banking & Equities segment includes interest expense on the Notes Payable, lines of credit and other financing arrangements, including interest expense related to deferred acquisition consideration of $ 8,778 and $ 4,193 for the three months ended March 31, 2026 and 2025, respectively.

(B) Other Revenue, net, from the Investment Management segment includes interest expense on mandatorily redeemable interests of $ 113 for the three months ended March 31, 2026.

EVERCORE INC.

2 unchanged sentences

(2) Non-Compensation expenses are as follows:

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2025 2024 2025 2024

For the Three Months Ended March 31,

Investment Banking & Equities

13 unchanged sentences

Professional Fees (B)

1,144 1,056 3,464 3,064

Travel and Related Expenses 264 207

Technology and Information Services (B)

1,254 984 3,545 2,824

Depreciation and Amortization 152 83

13 unchanged sentences

Total Non-Compensation $ 156,782 $ 123,820

(A) The Company reclassified $ 10,199 and $ 28,589 of technology and related expenses from "Professional Fees" to "Technology and Information Services" in the Investment Banking & Equities segment for the three and nine months ended September 30, 2024, respectively, to conform to the current presentation.

(A) The Company reclassified $ 9,950 of technology and related expenses from "Professional Fees" to "Technology and Information Services" in the Investment Banking & Equities segment for the three months ended March 31, 2025 to conform to the current presentation.

See Note 2 for further information.

(B) The Company reclassified $ 266 and $ 736 of technology and related expenses from "Professional Fees" to "Technology and Information Services" in the Investment Management segment for the three and nine months ended September 30, 2024, respectively, to conform to the current presentation.

(B) The Company reclassified $ 273 of technology and related expenses from "Professional Fees" to "Technology and Information Services" in the Investment Management segment for the three months ended March 31, 2025 to conform to the current presentation.

See Note 2 for further information.

(C) The Company reclassified $ 10,465 and $ 29,325 of technology and related expenses from "Professional Fees" to "Technology and Information Services" for the three and nine months ended September 30, 2024, respectively, to conform to the current presentation.

(C) The Company reclassified $ 10,223 of technology and related expenses from "Professional Fees" to "Technology and Information Services" for the three months ended March 31, 2025 to conform to the current presentation.

See Note 2 for further information.

4 unchanged sentences

The Company's revenues were derived from clients located and managed in the following geographical areas:

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2025 2024 2025 2024

For the Three Months Ended March 31,

Net Revenues:

4 unchanged sentences

(1) Excludes Other Revenue, Including Interest and Investments, and Interest Expense.

(2) Primarily includes revenue attributable to the United States of $ 770,877 and $ 1,948,359 for the three and nine months ended September 30, 2025, respectively, and $ 502,176 and $ 1,491,922 for the three and nine months ended September 30, 2024, respectively.

(2) Primarily includes revenue attributable to the United States of $ 1,057,974 and $ 559,801 for the three months ended March 31, 2026 and 2025, respectively.

The Company's total assets are located in the following geographical areas:

September 30, 2025 December 31, 2024

March 31, 2026 December 31, 2025

Total Assets:

5 unchanged sentences

(2) Primarily includes assets located in the United Kingdom.

T a b l e o f C o n t e n t s

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements