Evercore Inc. 10-Q

Item 1. Financial Statements Condensed Consolidated Financial Statements (Unaudited) Page Condensed Consolidated Statements of Financial Condition as of June 3 0 , 2026 and December 31, 2025 4 Condensed Consolidated Statements of Operations for the three and six months ended June 3 0 , 2026 and 2025 5 Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 3 0 , 2026 and 2025 6 Condensed Consolidated Statements of Changes in Equity for the three and six months ended June 3 0 , 2026 and 2025 7 Condensed Consolidated Statements of Cash Flows for the six months ended June 3 0 , 2026 and 2025 8 Notes to Unaudited Condensed Consolidated Financial Statements 9 3 Table of Contents EVERCORE INC. CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) (dollars in thousands, except share data) June 30, 2026 December 31, 2025 Assets Current Assets Cash and Cash Equivalents $ 1,256,599 $ 1,426,020 Investment Securities and Certificates of Deposit (includes available-for-sale debt securities with an amortized cost of $ 199,307 and $ 877,606 at June 30, 2026 and December 31, 2025, respectively) 1,148,333 1,580,638 Accounts Receivable (net of allowances of $ 5,521 and $ 2,983 at June 30, 2026 and December 31, 2025, respectively) 568,468 555,812 Receivable from Employees and Related Parties 68,206 63,434 Other Current Assets 154,807 232,337 Total Current Assets 3,196,413 3,858,241 Investments 16,372 16,898 Deferred Tax Assets 318,290 297,361 Operating Lease Right-of-Use Assets 445,263 457,152 Furniture, Equipment and Leasehold Improvements (net of accumulated depreciation and amortization of $ 181,724 and $ 170,272 at June 30, 2026 and December 31, 2025, respectively) 189,453 190,064 Goodwill 227,844 230,783 Intangible Assets (net of accumulated amortization of $ 11,006 and $ 3,727 at June 30, 2026 and December 31, 2025, respectively) 22,277 30,090 Other Assets 284,883 277,508 Total Assets $ 4,700,795 $ 5,358,097 Liabilities and Equity Current Liabilities Accrued Compensation and Benefits $ 940,180 $ 1,381,322 Accounts Payable and Accrued Expenses 43,485 44,562 Payable to Employees and Related Parties 205,741 181,591 Operating Lease Liabilities 65,251 58,666 Taxes Payable 2,173 15,942 Current Portion of Notes Payable — 47,981 Other Current Liabilities 38,328 53,357 Total Current Liabilities 1,295,158 1,783,421 Operating Lease Liabilities 487,912 508,191 Notes Payable 539,979 540,243 Amounts Due Pursuant to Tax Receivable Agreements 63,438 59,579 Deferred Tax Liabilities — 4,652 Other Long-term Liabilities 136,005 142,145 Total Liabilities 2,522,492 3,038,231 Commitments and Contingencies (Note 16) Equity Evercore Inc. Stockholders' Equity Common Stock Class A, par value $ 0.01 per share ( 1,000,000,000 shares authorized, 89,765,142 and 87,572,820 issued at June 30, 2026 and December 31, 2025, respectively, and 38,454,700 and 38,522,790 outstanding at June 30, 2026 and December 31, 2025, respectively) 898 876 Class B, par value $ 0.01 per share ( 1,000,000 shares authorized, 46 and 45 issued and outstanding at June 30, 2026 and December 31, 2025, respectively) — — Additional Paid-In Capital 4,272,786 4,024,496 Accumulated Other Comprehensive Income (Loss) ( 22,408 ) ( 13,128 ) Retained Earnings 2,903,674 2,581,815 Treasury Stock at Cost ( 51,310,442 and 49,050,030 shares at June 30, 2026 and December 31, 2025, respectively) ( 5,296,394 ) ( 4,562,483 ) Total Evercore Inc. Stockholders' Equity 1,858,556 2,031,576 Noncontrolling Interest 319,747 288,290 Total Equity 2,178,303 2,319,866 Total Liabilities and Equity $ 4,700,795 $ 5,358,097 See Notes to Unaudited Condensed Consolidated Financial Statements. 4 Table of Contents EVERCORE INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (dollars and share amounts in thousands, except per share data) For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Revenues Investment Banking & Equities: Advisory Fees $ 775,590 $ 697,744 $ 2,020,329 $ 1,255,093 Underwriting Fees 97,071 32,206 152,139 86,461 Commissions and Related Revenue 63,535 58,272 126,193 113,382 Asset Management and Administration Fees 23,655 20,684 46,298 41,667 Other Revenue, Including Interest and Investments 38,646 29,134 54,007 40,459 Total Revenues 998,497 838,040 2,398,966 1,537,062 Interest Expense 8,298 4,210 17,189 8,403 Net Revenues 990,199 833,830 2,381,777 1,528,659 Expenses Employee Compensation and Benefits 641,791 548,611 1,545,861 1,008,436 Occupancy and Equipment Rental 29,726 26,914 56,791 52,645 Professional Fees 33,044 23,133 61,399 45,523 Travel and Related Expenses 35,331 23,984 63,202 46,002 Technology and Information Services 43,961 36,587 84,379 69,954 Depreciation and Amortization 12,577 6,450 25,015 12,426 Execution, Clearing and Custody Fees 3,052 3,180 6,239 6,526 Special Charges, Including Business Realignment Costs 21,315 — 21,315 — Acquisition and Transition Costs — 1,637 1,800 1,637 Other Operating Expenses 22,826 12,945 38,474 23,937 Total Expenses 843,623 683,441 1,904,475 1,267,086 Income Before Income from Equity Method Investments and Income Taxes 146,576 150,389 477,302 261,573 Income from Equity Method Investments 1,018 815 2,069 1,694 Income Before Income Taxes 147,594 151,204 479,371 263,267 Provision for Income Taxes 41,094 44,265 50,150 2,538 Net Income 106,500 106,939 429,221 260,729 Net Income Attributable to Noncontrolling Interest 11,223 9,738 32,709 17,344 Net Income Attributable to Evercore Inc. $ 95,277 $ 97,201 $ 396,512 $ 243,385 Net Income Attributable to Evercore Inc. Common Shareholders $ 95,277 $ 97,201 $ 396,512 $ 243,385 Weighted Average Shares of Class A Common Stock Outstanding Basic 38,631 38,715 38,799 38,717 Diluted 41,134 41,213 41,491 41,636 Net Income Per Share Attributable to Evercore Inc. Common Shareholders: Basic $ 2.47 $ 2.51 $ 10.22 $ 6.29 Diluted $ 2.32 $ 2.36 $ 9.56 $ 5.85 See Notes to Unaudited Condensed Consolidated Financial Statements. 5 Table of Contents EVERCORE INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (dollars in thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Net Income $ 106,500 $ 106,939 $ 429,221 $ 260,729 Other Comprehensive Income (Loss), net of tax: Unrealized Gain (Loss) on Securities and Investments, net 5 5 ( 143 ) ( 223 ) Foreign Currency Translation Adjustment Gain (Loss), net 853 18,678 ( 9,982 ) 27,392 Other Comprehensive Income (Loss) 858 18,683 ( 10,125 ) 27,169 Comprehensive Income 107,358 125,622 419,096 287,898 Comprehensive Income Attributable to Noncontrolling Interest 11,290 11,128 31,864 19,373 Comprehensive Income Attributable to Evercore Inc. $ 96,068 $ 114,494 $ 387,232 $ 268,525 See Notes to Unaudited Condensed Consolidated Financial Statements. 6 Table of Contents EVERCORE INC. CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) (dollars in thousands, except share data) For the Three Months Ended June 30, 2026 Accumulated 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 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 Net Income — — — — 95,277 — — 11,223 106,500 Other Comprehensive Income — — — 791 — — — 67 858 Treasury Stock Purchases — — — — — ( 330,771 ) ( 112,562 ) — ( 112,562 ) Evercore LP Units Exchanged for Class A Common Stock 44,479 — 5,865 — — — — ( 4,988 ) 877 Equity-based Compensation Awards 64,465 1 131,990 — — — — 15,991 147,982 Dividends — — — — ( 37,940 ) — — — ( 37,940 ) Noncontrolling Interest (Note 13) — — ( 6,952 ) — — — — ( 9,061 ) ( 16,013 ) Balance at June 30, 2026 89,765,142 $ 898 $ 4,272,786 $ ( 22,408 ) $ 2,903,674 ( 51,310,442 ) $ ( 5,296,394 ) $ 319,747 $ 2,178,303 For the Six Months Ended June 30, 2026 Accumulated 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 December 31, 2025 87,572,820 $ 876 $ 4,024,496 $ ( 13,128 ) $ 2,581,815 ( 49,050,030 ) $ ( 4,562,483 ) $ 288,290 $ 2,319,866 Net Income — — — — 396,512 — — 32,709 429,221 Other Comprehensive Income (Loss) — — — ( 9,280 ) — — — ( 845 ) ( 10,125 ) Treasury Stock Purchases — — — — — ( 2,260,412 ) ( 733,911 ) — ( 733,911 ) Evercore LP Units Exchanged for Class A Common Stock 109,759 1 17,201 — — — — ( 11,844 ) 5,358 Equity-based Compensation Awards 2,082,563 21 238,041 — — — — 32,131 270,193 Dividends — — — — ( 74,653 ) — — — ( 74,653 ) Noncontrolling Interest (Note 13) — — ( 6,952 ) — — — — ( 20,694 ) ( 27,646 ) Balance at June 30, 2026 89,765,142 $ 898 $ 4,272,786 $ ( 22,408 ) $ 2,903,674 ( 51,310,442 ) $ ( 5,296,394 ) $ 319,747 $ 2,178,303 For the Three Months Ended June 30, 2025 Accumulated 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 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 Net Income — — — — 97,201 — — 9,738 106,939 Other Comprehensive Income — — — 17,293 — — — 1,390 18,683 Treasury Stock Purchases — — — — — ( 183,033 ) ( 43,205 ) — ( 43,205 ) Evercore LP Units Exchanged for Class A Common Stock 86,625 1 11,026 — — — — ( 8,772 ) 2,255 Equity-based Compensation Awards 32,817 — 103,752 — — — — 19,847 123,599 Dividends — — — — ( 36,329 ) — — — ( 36,329 ) Noncontrolling Interest (Note 13) — — ( 1,220 ) — — — — ( 3,883 ) ( 5,103 ) 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 For the Six Months Ended June 30, 2025 Accumulated 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 December 31, 2024 84,767,922 $ 848 $ 3,510,356 $ ( 36,057 ) $ 2,133,919 ( 46,651,572 ) $ ( 3,901,424 ) $ 234,166 $ 1,941,808 Net Income — — — — 243,385 — — 17,344 260,729 Other Comprehensive Income — — — 25,140 — — — 2,029 27,169 Treasury Stock Purchases — — — — — ( 1,737,555 ) ( 449,165 ) — ( 449,165 ) Evercore LP Units Exchanged for Class A Common Stock 110,317 1 13,441 — — — — ( 10,967 ) 2,475 Equity-based Compensation Awards 2,104,404 21 187,142 — — — — 32,574 219,737 Dividends — — — — ( 71,308 ) — — — ( 71,308 ) Noncontrolling Interest (Note 13) — — ( 1,220 ) — — — — ( 11,731 ) ( 12,951 ) 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 See Notes to Unaudited Condensed Consolidated Financial Statements. 7 Table of Contents EVERCORE INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (dollars in thousands) For the Six Months Ended June 30, 2026 2025 Cash Flows From Operating Activities Net Income $ 429,221 $ 260,729 Adjustments to Reconcile Net Income to Net Cash Provided by (Used In) Operating Activities: Net (Gains) Losses on Investments, Investment Securities and Contingent Consideration ( 11,160 ) ( 7,723 ) Equity Method Investments 99 189 Equity-Based and Other Deferred Compensation 415,371 329,365 Noncash Lease Expense 27,059 25,062 Depreciation, Amortization and Accretion, net 19,942 3,610 Bad Debt Expense 3,033 3,530 Deferred Taxes ( 12,390 ) ( 6,671 ) Decrease (Increase) in Operating Assets: Investment Securities 5,734 10,185 Accounts Receivable ( 18,373 ) ( 57,397 ) Receivable from Employees and Related Parties ( 5,337 ) ( 100 ) Other Assets 68,860 ( 57,867 ) (Decrease) Increase in Operating Liabilities: Accrued Compensation and Benefits ( 518,675 ) ( 565,247 ) Accounts Payable and Accrued Expenses ( 1,578 ) 6,621 Payables to Employees and Related Parties 24,181 37,003 Taxes Payable ( 13,769 ) ( 2,568 ) Other Liabilities ( 112,563 ) ( 90,637 ) Net Cash Provided by (Used in) Operating Activities 299,655 ( 111,916 ) Cash Flows From Investing Activities Investments Purchased — ( 1,000 ) Distributions of Private Equity Investments — 1,270 Investment Securities: Proceeds from Sales and Maturities of Investment Securities 1,440,079 1,443,298 Purchases of Investment Securities ( 1,012,467 ) ( 1,017,910 ) Maturity of Certificates of Deposit 242,856 66,422 Purchase of Certificates of Deposit ( 222,554 ) ( 80,766 ) Purchase of Furniture, Equipment and Leasehold Improvements ( 13,833 ) ( 45,706 ) Net Cash Provided by Investing Activities 434,081 365,608 Cash Flows From Financing Activities Issuance of Noncontrolling Interests 450 1,331 Distributions to Noncontrolling Interests ( 20,702 ) ( 13,309 ) Payments Under Tax Receivable Agreement ( 667 ) ( 597 ) Payment of Notes Payable ( 48,000 ) — Purchase of Treasury Stock and Noncontrolling Interests ( 736,457 ) ( 450,139 ) Dividends ( 84,726 ) ( 79,091 ) Net Cash Provided by (Used in) Financing Activities ( 890,102 ) ( 541,805 ) Effect of Exchange Rate Changes on Cash ( 12,575 ) 33,255 Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash ( 168,941 ) ( 254,858 ) Cash, Cash Equivalents and Restricted Cash – Beginning of Period 1,436,140 882,107 Cash, Cash Equivalents and Restricted Cash – End of Period $ 1,267,199 $ 627,249 SUPPLEMENTAL CASH FLOW DISCLOSURE Payments for Interest $ 14,581 $ 8,130 Payments for Income Taxes $ 100,419 $ 40,387 Accrued Dividends $ 7,367 $ 7,672 See Notes to Unaudited Condensed Consolidated Financial Statements. 8 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) Note 1 – Organization Evercore Inc., together with its subsidiaries (the "Company"), is an investment banking and investment management firm, incorporated in Delaware and headquartered in New York, New York. The Company is a holding company which owns a controlling interest in, and is the sole general partner of, Evercore LP, a Delaware limited partnership ("Evercore LP"). The Company operates from its offices and through its affiliates in the Americas, Europe, the Middle East and Asia. The Investment Banking & Equities segment includes the investment banking business through which the Company provides advice to clients on significant mergers, acquisitions, divestitures, shareholder activism and other strategic corporate transactions, with a particular focus on advising prominent multinational corporations and substantial private equity firms on large, complex transactions. The Company also provides liability management and restructuring advice to companies in financial transition, as well as to creditors, shareholders and potential acquirers. In addition, the Company provides its clients with capital markets advice, underwrites securities offerings, raises funds for financial sponsors and provides advisory services focused on partnerships and private funds interests, as well as on primary and secondary transactions for real estate oriented financial sponsors and private equity interests. 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, 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. Note 2 – Significant Accounting Policies For a further discussion of the Company's accounting policies, refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2025. Basis of Presentation – The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the instructions to Form 10-Q. As permitted by the rules and regulations of the United States Securities and Exchange Commission, the unaudited condensed consolidated financial statements contain certain condensed financial information and exclude certain footnote disclosures normally included in audited consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The accompanying condensed consolidated financial statements are unaudited and are prepared in accordance with U.S. GAAP. In the opinion of the Company's management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, including normal recurring accruals, necessary to fairly present the accompanying unaudited condensed consolidated financial statements. 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, 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. GAAP. 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., 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. The Company reviews factors, including the rights of the equity holders and obligations of equity holders to absorb losses or receive expected residual returns, to determine if the investment is a VIE. In evaluating whether the Company is the primary beneficiary, the Company evaluates its economic interests in the entity held either directly or indirectly by the Company. The consolidation analysis is generally performed qualitatively. This analysis, which requires judgment, is performed at each reporting date. 9 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) Evercore LP is a VIE and the Company is the primary beneficiary. Specifically, the Company has the majority economic interest in Evercore LP and has decision making authority that significantly affects the economic performance of the entity while the limited partners have no kick-out or substantive participating rights. The assets and liabilities of Evercore LP represent substantially all of the consolidated assets and liabilities of the Company with the exception of U.S. 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 U.K., Evercore (Japan) Ltd. ("Evercore Japan"), Evercore Consulting (Beijing) Co. Ltd. ("Evercore Beijing"), Evercore Partners Canada Ltd. ("Evercore Canada"), Evercore Asia Limited ("Evercore Hong Kong"), Evercore Asia (Singapore) Pte. Ltd. ("Evercore Singapore"), PT Evercore Advisory Indonesia ("Evercore Indonesia") and Evercore Israel L.L.C. ("Evercore Israel") 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, Evercore Indonesia and Evercore Israel, 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, Evercore Singapore, Evercore Indonesia and Evercore Israel assets of $ 1,219,499 and liabilities of $ 425,132 at June 30, 2026 and Evercore ISI U.K., Evercore U.K., Evercore Japan, Evercore Beijing, Evercore Canada, Evercore Hong Kong, Evercore Singapore and Evercore Indonesia 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. Note 3 – Recent Accounting Pronouncements ASU 2024-03 – In November 2024, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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 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. 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. ASU 2025-03 – In May 2025, the FASB issued ASU No. 2025-03, "Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity" ("ASU 2025-03"). ASU 2025-03 provides amendments to ASC 805, "Business Combinations", and to ASC 810, "Consolidation", which revise the guidance for determining the accounting acquirer in a transaction effected primarily by exchanging equity interests in which the legal acquiree is a VIE that meets the definition of a business. The amendments in this update are effective for fiscal years beginning after December 15, 2026 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. ASU 2025-05 – In July 2025, the FASB issued ASU No. 2025-05, "Financial Instruments – Credit Losses (Topic 326): 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" ("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 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 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 10 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) 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. 2025-06, "Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software" ("ASU 2025-06") . ASU 2025-06 provides amendments to ASC 350-40, "Intangibles – Goodwill and Other – Internal-Use Software" , which revise the guidance for the accounting and disclosure of internal-use software costs. 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, retrospective or modified 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. 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 six months ended June 30, 2026 and 2025: For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Investment Banking & Equities: Advisory Fees $ 775,590 $ 697,744 $ 2,020,329 $ 1,255,093 Underwriting Fees 97,071 32,206 152,139 86,461 Commissions and Related Revenue 63,535 58,272 126,193 113,382 Total Investment Banking & Equities $ 936,196 $ 788,222 $ 2,298,661 $ 1,454,936 Investment Management: Asset Management and Administration Fees: Wealth Management $ 23,655 $ 20,684 $ 46,298 $ 41,667 Total Investment Management $ 23,655 $ 20,684 $ 46,298 $ 41,667 Contract Balances 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 six months ended June 30, 2026 and 2025 are as follows: 11 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) For the Six Months Ended June 30, 2026 Receivables (Current) (1) Receivables (Long-term) (2) Contract Assets (Current) (3) Contract Assets (Long-term) (2) Deferred Revenue (Contract Liabilities) (4) Balance at January 1, 2026 $ 555,812 $ 129,853 $ 147,444 $ 27,905 $ 5,995 Increase (Decrease) 12,656 17,699 ( 100,287 ) 3,938 6,686 Balance at June 30, 2026 $ 568,468 $ 147,552 $ 47,157 $ 31,843 $ 12,681 For the Six Months Ended June 30, 2025 Receivables (Current) (1) Receivables (Long-term) (2) Contract Assets (Current) (3) Contract Assets (Long-term) (2) Deferred Revenue (Contract Liabilities) (4) Balance at January 1, 2025 $ 421,502 $ 101,314 $ 62,379 $ 14,477 $ 3,582 Increase 62,473 11,644 14,969 1,726 2,695 Balance at June 30, 2025 $ 483,975 $ 112,958 $ 77,348 $ 16,203 $ 6,277 (1) Included in Accounts Receivable on the Unaudited Condensed Consolidated Statements of Financial Condition. (2) Included in Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition. (3) Included in Other Current Assets on the Unaudited Condensed Consolidated Statements of Financial Condition. (4) Included in Other Current Liabilities on the Unaudited Condensed Consolidated Statements of Financial Condition. The Company's contract assets represent arrangements in which an estimate of variable consideration has been included in the transaction price and thereby recognized as revenue that precedes the contractual due date. 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 $ 25,517 and $ 33,321 on the Unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2026, respectively, and $ 5,931 and $ 11,041 for the three and six months ended June 30, 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 six months ended June 30, 2026 and 2025 is as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Beginning Balance $ 2,810 $ 3,183 $ 2,983 $ 2,253 Bad debt expense, net of reversals 3,130 940 3,033 3,530 Write-offs, foreign currency translation and other adjustments ( 419 ) ( 229 ) ( 495 ) ( 1,889 ) Ending Balance $ 5,521 $ 3,894 $ 5,521 $ 3,894 The change in the balance during the three and six months ended June 30, 2026 is primarily related to an increase 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 June 30, 2026, by year of origination: 12 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) Amortized Carrying Value by Origination Year 2026 2025 2024 2023 2022 Total Long-term Accounts Receivable and Long-term Contract Assets $ 61,722 $ 81,975 $ 27,368 $ 6,289 $ 2,041 $ 179,395 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 ($ 95,767 ) 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 ($ 99,202 as of June 30, 2026) due on the first anniversary of the closing (in Class A Shares or cash), the present value of which was $ 97,805 and $ 96,538 as of June 30, 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 $ 26,935 and $ 24,521 as of June 30, 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 $ 1,613 and $ 2,816 for the three and six months ended June 30, 2026, respectively, on the Unaudited Condensed Consolidated Statements 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 $ 3,712 and $ 7,442 for the three and six months ended June 30, 2026, respectively, included within Depreciation and Amortization expense on the Unaudited Condensed Consolidated Statements of Operations. Acquisition and Transition Costs The Company incurred acquisition-related costs of $ 1,800 for the six months ended June 30, 2026, related to the impairment of a lease in conjunction with the acquisition of Robey Warshaw, and $ 1,637 for the three and six months ended June 30, 2025, comprised of professional fees for legal and other services, which are included in Acquisition and Transition Costs on the Unaudited Condensed Consolidated Statements 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 $ 476 and $ 2,389 for the three and six months ended June 30, 2026, respectively, and $ 1,271 for the six months ended June 30, 2025. Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition includes the long-term portion of loans receivable from certain employees of $ 33,807 and $ 34,675 as of June 30, 2026 and December 31, 2025, respectively. See Note 15 for further information. Note 7 – Investment Securities and Certificates of Deposit The Company's Investment Securities and Certificates of Deposit as of June 30, 2026 and December 31, 2025 were as follows: 13 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) June 30, 2026 December 31, 2025 Debt Securities $ 199,318 $ 877,803 Equity Securities 375 355 Debt Securities Carried by EGL 759,725 486,641 Investment Funds 169,989 175,418 Total Investment Securities, at fair value $ 1,129,407 $ 1,540,217 Certificates of Deposit, at contract value 18,926 40,421 Total Investment Securities and Certificates of Deposit $ 1,148,333 $ 1,580,638 Debt Securities Debt Securities are classified as available-for-sale securities within Investment Securities and Certificates of Deposit on the Unaudited Condensed Consolidated Statements of Financial Condition. These securities, which are primarily comprised of U.S. 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 $ 11 and $ 218 as of June 30, 2026 and December 31, 2025, respectively. 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 $ 7 and ($ 188 ) for the three and six months ended June 30, 2026, respectively, and $ 8 and ($ 293 ) for the three and six months ended June 30, 2025, respectively. Gross realized gains included within Other Revenue, Including Interest and Investments, were $ 3 for each of the six months ended June 30, 2026 and 2025. Gross realized losses included within Other Revenue, Including Interest and Investments, were ($ 42 ) and ($ 20 ) for the six months ended June 30, 2026 and 2025, respectively. Proceeds from the sales and maturities of available-for-sale securities, including interest, were $ 881,184 for the six months ended June 30, 2026 and $ 25,925 and $ 841,964 for the three and six months ended June 30, 2025, respectively. Scheduled maturities of the Company's available-for-sale debt securities as of June 30, 2026 and December 31, 2025 were as follows: June 30, 2026 December 31, 2025 Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 199,307 $ 199,318 $ 877,606 $ 877,803 Total $ 199,307 $ 199,318 $ 877,606 $ 877,803 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. 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 June 30, 2026 and has not recorded a credit allowance on these securities. Equity Securities 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 $ 85 and $ 20 for the three and six months ended June 30, 2026, respectively, and ($ 19 ) and ($ 108 ) for the three and six months ended June 30, 2025, respectively. 14 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) Debt Securities Carried by EGL EGL invests in a fixed income portfolio consisting primarily of U.S. Treasury securities. 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 (losses) of $ 74 and $ 21 for the three and six months ended June 30, 2026, respectively, and ($ 53 ) and ($ 157 ) for the three and six months ended June 30, 2025, respectively. Investment Funds The Company invests in a portfolio of exchange-traded funds as an economic hedge against its deferred cash compensation program. See Note 15 for further information. 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 $ 21,526 and $ 14,312 for the three and six months ended June 30, 2026, respectively, (of which $ 21,526 and ($ 13,568 ), respectively, were net unrealized gains (losses)) and $ 15,085 and $ 9,154 for the three and six months ended June 30, 2025, respectively, (of which $ 15,085 and ($ 13,454 ), respectively, were net unrealized gains (losses)). Certificates of Deposit At June 30, 2026 and December 31, 2025, the Company held certificates of deposit of $ 18,926 and $ 40,421 , respectively, with certain banks with original maturities of seven months or less when purchased. Note 8 – Investments The Company's investments reported on the Unaudited Condensed Consolidated Statements of Financial Condition consist of investments in unconsolidated affiliated companies, other investments in private equity partnerships and equity securities in private companies. The Company's investments are relatively high-risk and illiquid assets. 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. The Company also has investments in private equity partnerships which consist of investment interests in private equity funds which are voting interest entities. Realized and unrealized gains and losses on private equity investments are included within Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations. Equity Method Investments A summary of the Company's investments accounted for under the equity method of accounting as of June 30, 2026 and December 31, 2025 was as follows: June 30, 2026 December 31, 2025 Atalanta Sosnoff $ 11,137 $ 11,261 Seneca Evercore 1,253 1,312 Total $ 12,390 $ 12,573 Atalanta Sosnoff The Company has an investment accounted for under the equity method of accounting in Atalanta Sosnoff. At June 30, 2026, the Company's ownership interest in Atalanta Sosnoff was 49 %. This investment resulted in earnings of $ 1,000 and $ 2,043 for the three and six months ended June 30, 2026, respectively, and $ 804 and $ 1,721 for the three and six months ended June 30, 2025, respectively, included within Income from Equity Method Investments on the Unaudited Condensed Consolidated Statements of Operations. 15 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) Seneca Evercore The Company has an investment accounted for under the equity method of accounting in Seneca Evercore. At June 30, 2026, the Company's ownership interest in Seneca Evercore was 20 %. This investment resulted in earnings (losses) of $ 18 and $ 26 for the three and six months ended June 30, 2026, respectively, and $ 11 and ($ 27 ) for the three and six months ended June 30, 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 . Other 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 $ 124 for each of the three and six months ended June 30, 2026 and 2025, respectively. The Company assesses each of its equity method investments for impairment annually, or more frequently if circumstances indicate impairment may have occurred. Investments in Private Equity Private Equity Funds The Company's investments related to private equity partnerships and associated entities include investments in Glisco Partners II, L.P. ("Glisco II"), Glisco Partners III, L.P. ("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 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 June 30, 2026 and December 31, 2025 was as follows: June 30, 2026 December 31, 2025 Glisco II, Glisco III and Glisco IV $ 1,687 $ 1,927 Trilantic V 633 725 Total Private Equity Funds $ 2,320 $ 2,652 Net realized and unrealized losses on private equity fund investments were ($ 339 ) and ($ 338 ) for the three and six months ended June 30, 2026, respectively, and ($ 114 ) and ($ 1,094 ) for the three and six months ended June 30, 2025, respectively. In the event the funds perform poorly, the Company may be obligated to repay certain carried interest previously distributed. As of June 30, 2026, there was no previously distributed carried interest received from the funds subject to repayment. General Partners of Private Equity Funds which are VIEs The Company has concluded that Glisco Capital Partners II, Glisco Capital Partners III and Glisco Manager Holdings LP are VIEs and that the Company is not the primary beneficiary of these VIEs. The Company's assessment of the primary beneficiary of these entities included assessing which parties have the power to significantly impact the economic performance of these entities and the obligation to absorb losses, which could be potentially significant to the entities, or the right to receive benefits from the entities that could be potentially significant. Neither the Company nor its related parties will have the ability to make decisions that significantly impact the economic performance of these entities. Further, as a limited partner in these entities, the Company does not possess substantive participating rights. The Company had assets of $ 1,226 and $ 1,327 included in its Unaudited Condensed Consolidated Statements of Financial Condition at June 30, 2026 and December 31, 2025, respectively, 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 June 30, 2026 and December 31, 2025 was $ 3,408 and $ 3,510 , respectively, which 16 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) represents the carrying value of the Company's investments in these VIEs, as well as any unfunded commitments to the current and future funds. 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 $ 1,662 and $ 1,673 as of June 30, 2026 and December 31, 2025, respectively, are accounted for at their cost minus impairment, if any, plus or minus amounts resulting from observable price changes. Note 9 – Leases Operating Leases – The Company leases office space under non-cancelable lease agreements, which expire on various dates through 2035. The Company reflects lease expense over the lease terms on a straight-line basis, which include options to extend the lease when it is reasonably certain that the Company will exercise that option. Occupancy lease agreements, in addition to base rentals, generally are subject to escalation provisions based on certain costs incurred by the landlord. 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 $ 19,077 and $ 39,598 for the three and six months ended June 30, 2026, respectively, and $ 18,039 and $ 35,392 for the three and six months ended June 30, 2025, respectively, and variable lease cost, which principally include costs for real estate taxes, common area maintenance and other operating expenses of $ 2,110 and $ 3,490 for the three and six months ended June 30, 2026, respectively, and $ 2,051 and $ 3,706 for the three and six months ended June 30, 2025, respectively. In conjunction with the lease of office space, the Company has entered into letters of credit in the amount of $ 6,129 and $ 6,037 as of June 30, 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 $ 1,341 and $ 2,861 for the three and six months ended June 30, 2026, respectively, and $ 1,836 and $ 3,386 for the three and six months ended June 30, 2025, respectively. The Company uses its secured incremental borrowing rate to determine the present value of its right-of-use assets and lease liabilities. The determination of an appropriate incremental borrowing rate requires significant assumptions and judgment. The Company's incremental borrowing rate was calculated based on the Company's recent debt issuances and current market conditions. The Company scales the rates appropriately depending on the life of the leases. The Company incurred net operating cash outflows of $ 42,570 and $ 36,763 for the six months ended June 30, 2026 and 2025, respectively, related to its operating leases, which was net of cash received from lease incentives of $ 4,054 for the six months ended June 30, 2025. Other information as it relates to the Company's operating leases is as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 New Right-of-Use Assets obtained in exchange for new operating lease liabilities $ 9,863 $ 5,754 $ 15,295 $ 24,228 June 30, 2026 June 30, 2025 Weighted-average remaining lease term - operating leases 8.8 years 9.7 years Weighted-average discount rate - operating leases 4.88 % 4.80 % As of June 30, 2026, the maturities of the undiscounted operating lease liabilities for which the Company has commenced use are as follows: 17 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) 2026 (July 1 through December 31) $ 44,272 2027 91,023 2028 75,714 2029 63,574 2030 73,512 Thereafter 350,986 Total lease payments 699,081 Less: Tenant Improvement Allowances ( 16,929 ) Less: Imputed Interest ( 128,989 ) Present value of lease liabilities 553,163 Less: Current lease liabilities ( 65,251 ) Long-term lease liabilities $ 487,912 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 2026 and 2027 and will have lease terms of 3 to 9 years once they have commenced. The additional future payments under these arrangements are $ 30,735 as of June 30, 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 that it will take possession of this space by the end of 2026. The lease term is expected to end in 2041. The expected approximate additional annual expense under this lease agreement, net of certain lease incentives, is £ 12,000 , and the aggregate expected additional future payments under this arrangement are £ 175,000 . Note 10 – Fair Value Measurements ASC 820, "Fair Value Measurements and Disclosures" ("ASC 820") establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is affected by a number of factors, including the type of investment and the characteristics specific to the investment. 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 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. Treasury securities. As required by ASC 820, the Company does not adjust the quoted price for these investments, even in situations where the Company holds a large position and a sale could reasonably impact the quoted price. Level 2 – Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Periodically, the Company holds investments in corporate bonds, municipal bonds and other debt securities, the estimated fair values of which are based on prices provided by external pricing services. 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 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 and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025: 18 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) June 30, 2026 Level 1 Level 2 Level 3 Total Assets: Debt Securities Carried by EGL $ 759,725 $ — $ — $ 759,725 Other Debt and Equity Securities (1) 211,501 — — 211,501 Investment Funds 169,989 — — 169,989 Total Assets Measured At Fair Value $ 1,141,215 $ — $ — $ 1,141,215 Liabilities: Contingent Consideration Liability (2) $ — $ — $ 26,935 $ 26,935 Total Liabilities Measured at Fair Value $ — $ — $ 26,935 $ 26,935 December 31, 2025 Level 1 Level 2 Level 3 Total Assets: Debt Securities Carried by EGL $ 486,641 $ — $ — $ 486,641 Other Debt and Equity Securities (1) 901,266 — — 901,266 Investment Funds 175,418 — — 175,418 Total Assets Measured At Fair Value $ 1,563,325 $ — $ — $ 1,563,325 Liabilities: Contingent Consideration Liability (2) $ — $ — $ 24,521 $ 24,521 Total Liabilities Measured at Fair Value $ — $ — $ 24,521 $ 24,521 (1) Includes $ 11,808 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 June 30, 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. The change in the fair value of the contingent consideration resulted in Other Operating Expenses of $ 1,613 and $ 2,816 for the three and six months ended June 30, 2026, respectively on the Unaudited Condensed Consolidated Statements of Operations. 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 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. 19 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) June 30, 2026 Carrying Estimated Fair Value Amount Level 1 Level 2 Level 3 Total Financial Assets: Cash and Cash Equivalents (1) $ 1,244,791 $ 1,244,791 $ — $ — $ 1,244,791 Certificates of Deposit 18,926 — 18,926 — 18,926 Receivables (2) 716,020 — 710,682 — 710,682 Contract Assets (3) 79,000 — 75,629 — 75,629 Closely-held Equity Securities 1,662 — — 1,662 1,662 Financial Liabilities: Accounts Payable and Accrued Expenses $ 43,485 $ — $ 43,485 $ — $ 43,485 Payable to Employees and Related Parties 205,741 — 205,741 — 205,741 Notes Payable 539,979 — 518,702 — 518,702 December 31, 2025 Carrying Estimated Fair Value Amount Level 1 Level 2 Level 3 Total Financial Assets: Cash and Cash Equivalents (1) $ 1,402,912 $ 1,402,912 $ — $ — $ 1,402,912 Certificates of Deposit 40,421 — 40,421 — 40,421 Receivables (2) 685,665 — 680,998 — 680,998 Contract Assets (3) 175,349 — 173,097 — 173,097 Closely-held Equity Securities 1,673 — — 1,673 1,673 Financial Liabilities: Accounts Payable and Accrued Expenses $ 44,562 $ — $ 44,562 $ — $ 44,562 Payable to Employees and Related Parties 181,591 — 181,591 — 181,591 Notes Payable (4) 588,224 — 575,879 — 575,879 (1) Excludes $ 11,808 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 June 30, 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) Includes current and long-term contract assets included in Other Current Assets and Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition. (4) Includes current and long-term Notes Payable included in Current Portion of Notes Payable and Notes Payable on the Unaudited Condensed Consolidated Statements of Financial Condition. Note 11 – Notes Payable 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 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 20 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) 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. On July 24, 2025, the Company issued an aggregate of $ 250,000 of senior notes, including: $ 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. Interest on the above issuances is payable semi-annually and the notes are guaranteed by certain of the Company's domestic subsidiaries. The Company may, at its option, prepay all, or from time to time any part of, the notes (without regard to Series), in an amount not less than 5 % of the aggregate principal amount of each of the individual issuances then outstanding at 100 % of the principal amount thereof plus an applicable "make-whole amount." The 2025 Private Placement Notes also allow for prepayment within six months of maturity without an applicable "make-whole amount." Upon the occurrence of a change of control, the holders of the notes will have the right to require the Company to prepay the entire unpaid principal amounts held by each holder of the notes plus accrued and unpaid interest to the prepayment date. The respective Note Purchase Agreements contain customary covenants, including financial covenants requiring compliance with a maximum leverage ratio, a minimum tangible net worth and a minimum interest coverage ratio, and customary events of default. Interest on the notes is subject to certain escalation provisions in the event that the leverage ratio exceeds certain thresholds. As of June 30, 2026, the Company was in compliance with all of these covenants. Notes Payable is comprised of the following as of June 30, 2026 and December 31, 2025: 21 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) Carrying Value (1) Note Maturity Date Effective Annual Interest Rate June 30, 2026 December 31, 2025 Evercore Inc. 5.48 % Series C Senior Notes 3/30/2026 5.64 % $ — $ 47,981 Evercore Inc. 5.58 % Series D Senior Notes 3/30/2028 5.72 % 16,960 16,950 Evercore Inc. 4.34 % Series E Senior Notes 8/1/2029 4.46 % 74,735 74,696 Evercore Inc. 4.44 % Series F Senior Notes 8/1/2031 4.55 % 59,709 59,684 Evercore Inc. 4.54 % Series G Senior Notes 8/1/2033 4.64 % 39,768 39,755 Evercore Inc. 3.33 % Series H Senior Notes 8/1/2033 3.42 % 32,979 33,497 Evercore Inc. 4.61 % Series J Senior Notes 11/15/2028 5.02 % 66,397 66,280 Evercore Inc. 5.17 % Series K Senior Notes 7/24/2030 5.23 % 124,725 124,695 Evercore Inc. 5.47 % Series L Senior Notes 7/24/2032 5.52 % 124,706 124,686 Total $ 539,979 $ 588,224 Less: Current Portion of Notes Payable — ( 47,981 ) Notes Payable $ 539,979 $ 540,243 (1) Carrying value has been adjusted to reflect the presentation of debt issuance costs as a direct reduction from the related liability. Note 12 – Evercore Inc. Stockholders' Equity Dividends – On July 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 August 28, 2026, which will be paid on September 11, 2026. During the three and six months ended June 30, 2026, the Company declared and paid dividends of $ 0.89 and $ 1.73 per share, respectively, totaling $ 34,296 and $ 67,286 , respectively, and accrued deferred cash dividends on restricted stock units ("RSUs") totaling $ 3,644 and $ 7,367 , respectively. The Company also paid deferred cash dividends of $ 640 and $ 17,440 during the three and six months ended June 30, 2026, respectively. During the three and six months ended June 30, 2025, the Company declared and paid dividends of $ 0.84 and $ 1.64 per share, respectively, totaling $ 32,420 and $ 63,636 , respectively, and accrued deferred cash dividends on RSUs totaling $ 3,909 and $ 7,672 , respectively. The Company also paid deferred cash dividends of $ 219 and $ 15,455 during the three and six months ended June 30, 2025, respectively. Treasury Stock – During the three months ended June 30, 2026, the Company purchased 30 Class A Shares from employees at an average cost per share of $ 319.61 , primarily for the net settlement of stock-based compensation awards, and 301 Class A Shares at an average cost per share of $ 341.83 pursuant to the Company's share repurchase program. The aggregate 331 Class A Shares were purchased at an average cost per share of $ 339.79 and the result of these purchases was an increase in Treasury Stock of $ 112,391 (excluding $ 171 of excise tax levied on share repurchases, net of issuances) on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2026. During the six months ended June 30, 2026, the Company purchased 934 Class A Shares from employees at an average cost per share of $ 343.89 , primarily for the net settlement of stock-based compensation awards, and 1,326 Class A Shares at an average cost per share of $ 311.03 pursuant to the Company's share repurchase program. The aggregate 2,260 Class A Shares were purchased at an average cost per share of $ 324.60 and the result of these purchases was an increase in Treasury Stock of $ 733,740 (excluding $ 171 of excise tax levied on share repurchases, net of issuances) on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2026. Evercore LP Units – During the three and six months ended June 30, 2026, 44 and 110 Evercore LP partnership units ("LP Units"), respectively, were exchanged for Class A Shares, resulting in an increase to Class A Common Stock of $ 1 for the six months ended June 30, 2026 and an increase to Additional Paid-In Capital of $ 4,988 and $ 11,843 for the three and six months ended June 30, 2026, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2026. See Note 13 for further information. Accumulated Other Comprehensive Income (Loss) – As of June 30, 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 ($ 39 ) and ($ 22,369 ), respectively. 22 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) 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: As of June 30, 2026 2025 Evercore LP 6 % 6 % Evercore Wealth Management ("EWM") 26 % 27 % The Noncontrolling Interests for Evercore LP and EWM have rights, in certain circumstances, to convert into Class A Shares. The Company has outstanding Class A LP Units, Class E limited partnership units of Evercore LP ("Class E LP Units"), Class I limited partnership units of Evercore LP ("Class I LP Units") and Class K limited partnership units of Evercore LP ("Class K LP Units"), which give the holders the right to receive Class A Shares upon exchange on a one -for-one basis. See Note 14 for further information. Changes in Noncontrolling Interest for the three and six months ended June 30, 2026 and 2025 were as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Beginning balance $ 306,515 $ 245,095 $ 288,290 $ 234,166 Comprehensive Income: Net Income Attributable to Noncontrolling Interest 11,223 9,738 32,709 17,344 Other Comprehensive Income (Loss) 67 1,390 ( 845 ) 2,029 Total Comprehensive Income 11,290 11,128 31,864 19,373 Evercore LP Units Exchanged for Class A Shares ( 4,988 ) ( 8,772 ) ( 11,844 ) ( 10,967 ) Amortization and Vesting of LP Units (see Note 15) and EWM Class A Units 15,991 19,847 32,131 32,574 Other Items: Distributions to Noncontrolling Interests ( 9,069 ) ( 4,944 ) ( 20,702 ) ( 13,309 ) Issuance of Noncontrolling Interest 450 1,100 450 1,617 Purchase of Noncontrolling Interest ( 442 ) ( 39 ) ( 442 ) ( 39 ) Total Other Items ( 9,061 ) ( 3,883 ) ( 20,694 ) ( 11,731 ) Ending balance $ 319,747 $ 263,415 $ 319,747 $ 263,415 Other Comprehensive Income – Other Comprehensive Income (Loss) Attributed to Noncontrolling Interest includes unrealized losses on securities and investments, net, of ($ 12 ) for the six months ended June 30, 2026, and ($ 17 ) for the six months ended June 30, 2025 and foreign currency translation adjustment gains (losses), net, of $ 67 and ($ 833 ) for the three and six months ended June 30, 2026, respectively, and $ 1,390 and $ 2,046 for the three and six months ended June 30, 2025, respectively. Evercore LP Units – During the three and six months ended June 30, 2026, 44 and 110 LP Units, respectively, were exchanged for Class A Shares. This resulted in a decrease to Noncontrolling Interest of $ 4,988 and $ 11,844 for the three and six months ended June 30, 2026, respectively, an increase to Class A Common Stock of $ 1 for the six months ended June 30, 2026, 23 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) and an increase to Additional Paid-In Capital of $ 4,988 and $ 11,843 for the three and six months ended June 30, 2026, respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2026. See Note 12 for further information. EWM Class A Units – During the second quarter of 2026, 2025 and 2024, the Company granted 406 , 395 and 297 EWM Class A Units, respectively, which generally vest ratably over three years . Compensation expense related to EWM Class A Units was $ 1,071 and $ 1,596 for the three and six months ended June 30, 2026, respectively, and $ 836 and $ 1,074 for the three and six months ended June 30, 2025, respectively. Interests Issued – During the second quarter of 2026, certain employees of EWM purchased EWM Class A Units, at fair value, resulting in an increase to Noncontrolling Interest of $ 450 on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2026. 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 June 30, 2025. Interests Purchased – During the second quarter of 2026 and 2025, the Company purchased, at fair value, EWM Class A Units for $ 2,250 and $ 1,259 , respectively. The Company has also committed to purchase interests from individuals in equal tranches over the next four years , at fair value at the time of the purchase. As of June 30, 2026 and December 31, 2025, the Company recorded $ 2,222 and $ 770 , respectively, in Payable to Employees and Related Parties and $ 5,168 and $ 1,319 , respectively, in Other Long-term Liabilities on the Unaudited Condensed Consolidated Statements of Financial Condition, reflecting the current fair value of amounts committed to be purchased in the future. These transactions resulted in a decrease to Noncontrolling Interest of $ 442 and $ 39 , respectively, and a decrease to Additional Paid-In Capital of $ 6,952 and $ 1,220 , respectively, on the Company's Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2026 and 2025. The Company incurred expense of $ 202 and $ 315 within Interest Expense on the Unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2026, respectively, 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 June 30, 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 and six months ended June 30, 2026. Note 14 – Net Income Per Share Attributable to Evercore Inc. Common Shareholders The calculations of basic and diluted net income per share attributable to Evercore Inc. common shareholders for the three and six months ended June 30, 2026 and 2025 are described and presented below. 24 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Basic Net Income Per Share Attributable to Evercore Inc. Common Shareholders Numerator: Net income attributable to Evercore Inc. common shareholders $ 95,277 $ 97,201 $ 396,512 $ 243,385 Denominator: Weighted average Class A Shares outstanding, including vested RSUs 38,631 38,715 38,799 38,717 Basic net income per share attributable to Evercore Inc. common shareholders $ 2.47 $ 2.51 $ 10.22 $ 6.29 Diluted Net Income Per Share Attributable to Evercore Inc. Common Shareholders Numerator: Net income attributable to Evercore Inc. common shareholders $ 95,277 $ 97,201 $ 396,512 $ 243,385 Noncontrolling interest related to the assumed exchange of LP Units for Class A Shares (1) — — — — Associated corporate taxes related to the assumed elimination of Noncontrolling Interest described above (1) — — — — Diluted net income attributable to Evercore Inc. common shareholders $ 95,277 $ 97,201 $ 396,512 $ 243,385 Denominator: Weighted average Class A Shares outstanding, including vested RSUs 38,631 38,715 38,799 38,717 Assumed exchange of LP Units for Class A Shares (1) — — — — 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) 1,839 1,666 2,045 2,070 Shares that are contingently issuable (3) 664 832 647 849 Diluted weighted average Class A Shares outstanding 41,134 41,213 41,491 41,636 Diluted net income per share attributable to Evercore Inc. common shareholders $ 2.32 $ 2.36 $ 9.56 $ 5.85 (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 and six months ended June 30, 2026 and 2025, 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. 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 2,564 and 2,572 for the three and six months ended June 30, 2026, respectively, and 2,321 and 2,323 for the three and six months ended June 30, 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 $ 7,014 and $ 28,717 for the three and six months ended June 30, 2026, respectively, and $ 6,480 and $ 16,036 for the three and six months ended June 30, 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 LP Units will result in a dilutive computation in future periods. 25 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) (2) During the three and six months ended June 30, 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 1,184 and 1,144 for the three and six months ended June 30, 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 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 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. The shares of Class B common stock have no right to receive dividends or a distribution on liquidation or winding up of the Company. The shares of Class B common stock do not share in the earnings of the Company and no earnings are allocable to such class. Accordingly, basic and diluted net income per share of Class B common stock have not been presented. Note 15 – Share-Based and Other Deferred Compensation LP Units Class K-P Units – The Company has awarded the following Class K-P Units to certain employees: • In June 2019, the Company awarded 220 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 defined benchmark results and continued service through February 4, 2023 for the first tranche, which consisted of 120 Class K-P Units, and February 4, 2028 for the second tranche, which consists of 100 Class K-P Units. In February 2023, the first tranche of 120 Class K-P Units converted into 193 Class K LP Units upon the achievement of certain performance and service conditions. The second tranche of these Class K-P Units may convert into a maximum of 173 Class K LP Units, contingent upon the achievement of defined benchmark results and continued service as described above. • In December 2021, the Company awarded 400 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 December 31, 2025. 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 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. 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 June 30, 2027. These Class K-P Units may convert into 60 Class K LP Units contingent upon the achievement of certain 26 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) market conditions and continued service, while additional units may be received upon conversion based on the level of defined benchmark results achieved. • In June 2024, the Company awarded 328 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 April 1, 2029. 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. • In February 2025, the Company awarded 35 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 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. 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. • In February 2025, the Company also awarded 20 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 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. 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. • 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. 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. 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 June 30, 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 June 30, 2026 to be $ 260,978 , related to 1,576 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 $ 14,920 and $ 30,535 for the three and six months ended June 30, 2026, respectively, and $ 19,011 and $ 31,500 for the three and six months ended June 30, 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 receive 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. The Company records expense related to these Class L Interests as part of its accrual for incentive compensation within Employee Compensation and Benefits on the Unaudited Condensed Consolidated Statements of Operations. 27 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) Stock Incentive Plan During 2024, the Company's stockholders approved the Third Amended and Restated 2016 Evercore Inc. Stock Incentive Plan (the "Third Amended 2016 Plan"), which amended the Second Amended and Restated 2016 Evercore Inc. Stock Incentive Plan. During the second quarter of 2026, the Company's stockholders approved the Fourth Amended and Restated 2016 Evercore Inc. Stock Incentive Plan (the "Fourth Amended 2016 Plan"), which amended the Third Amended 2016 Plan. The Fourth Amended 2016 Plan, among other things, authorizes the grant of an additional 5,000 of the Company's Class A Shares and permits the Company to grant to certain employees, directors and consultants incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, RSUs and other awards based on the Company's Class A Shares. The Company intends to use newly-issued Class A Shares to satisfy any awards under the Fourth Amended 2016 Plan and its predecessor plan. Class A Shares underlying any award granted under the Fourth 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 Fourth Amended 2016 Plan was 9,790 as of June 30, 2026. 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 RSU grants. The dividend equivalents have the same vesting and delivery terms as the underlying RSU award. The Company estimates forfeitures in the aggregate compensation cost to be amortized over the requisite service period of its awards. The Company periodically monitors its estimated forfeiture rate and adjusts its assumptions to the actual occurrence of forfeited awards. A change in estimated forfeitures is recognized through a cumulative adjustment in the period of the change. Equity Grants During the six months ended June 30, 2026, pursuant to the above Stock Incentive Plans, the Company granted employees 1,693 RSUs that are subject to service-based vesting requirements ("Service-based Awards"). Service-based Awards granted during the six months ended June 30, 2026 had grant date fair values of $ 290.92 to $ 356.99 per share, with an average value of $ 326.57 per share, for an aggregate fair value of $ 553,033 , and generally vest ratably over four years . During the six months ended June 30, 2026, 2,011 Service-based Awards vested and 35 Service-based Awards were forfeited. Compensation expense related to Service-based Awards was $ 130,516 and $ 234,353 for the three and six months ended June 30, 2026, respectively, and $ 100,068 and $ 180,132 for the three and six months ended June 30, 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 June 30, 2026 was $ 10,718 , related to 56 RSUs which were probable of achievement, and compensation expense related to these units was $ 248 and $ 1,212 for the three and six months ended June 30, 2026, respectively, and $ 609 and $ 952 for the three and six months ended June 30, 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 $ 6,113 and $ 12,256 for the three and six months ended June 30, 2026, respectively. 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 June 30, 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 28 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) awards was $ 825 and $ 1,641 for the three and six months ended June 30, 2026, respectively, included in the above compensation expense related to Service-based Awards. Deferred Cash Deferred Cash Compensation Program – The Company's deferred cash compensation program provides participants the ability to elect to receive a portion of their deferred compensation in cash, which is indexed to notional investment portfolios selected by the participant and generally vests ratably over four years and requires payment upon vesting. 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 $ 42,073 and $ 78,236 for the three and six months ended June 30, 2026, respectively, and $ 38,332 and $ 76,892 for the three and six months ended June 30, 2025, respectively. As of June 30, 2026, the Company expects to pay an aggregate of $ 318,482 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 $ 201,919 . The weighted-average period over which this compensation cost is expected to be recognized is 31 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. 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. These awards generally vest ratably over one to two years . The Company also periodically grants performance-based deferred cash awards to certain employees. Compensation expense related to other deferred cash awards was $ 4,884 and $ 9,917 for the three and six months ended June 30, 2026, respectively, and $ 2,959 and $ 6,017 for the three and six months ended June 30, 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", 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 six months ended June 30, 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 June 30, 2026, the Company has accrued $ 148,644 pursuant to the above Long-term Incentive Plans, including $ 63,188 within Accrued Compensation and Benefits and $ 85,456 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 $ 24,696 and $ 56,973 for the three and six months ended June 30, 2026, respectively, and $ 16,377 and $ 26,855 for the three and six months ended June 30, 2025, respectively. As of June 30, 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 $ 8,644 . As of June 30, 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 $ 266,337 . Employee Loans Receivable Periodically, the Company provides new and existing employees with cash payments in the form of loans and/or other cash awards which are subject to ratable vesting terms with service requirements ranging from one to five years . Generally, these awards, based on the terms, include a requirement of either full or partial repayment by the employee if the service or other requirements of the agreements with the Company are not achieved. 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 $ 16,417 and $ 27,698 for the three and six months ended June 30, 2026, respectively, and $ 12,589 and $ 21,541 for the three and six 29 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) months ended June 30, 2025, respectively. As of June 30, 2026, the total compensation cost not yet recognized related to these awards was $ 76,992 . 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 six months ended June 30, 2026 and 2025: For the Six Months Ended June 30, 2026 2025 Beginning Balance $ 961 $ 1,181 Termination Costs Incurred 5,510 5,219 Cash Benefits Paid ( 4,169 ) ( 4,995 ) Non-Cash Charges ( 5 ) ( 168 ) Ending Balance $ 2,297 $ 1,237 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 $ 1,184 and $ 2,547 for the three and six months ended June 30, 2026, respectively, (related to 13 RSUs) and $ 2,749 and $ 5,944 for the three and six months ended June 30, 2025, respectively, (related to 51 RSUs) 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 June 30, 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. Such commitments are satisfied in cash and are generally required to be made as investment opportunities are consummated by the private equity funds. Lines of Credit – On July 10, 2025, the Company amended its $ 85,000 revolving credit facility Evercore Partners Services East L.L.C. ("East") held with PNC Bank, National Association ("PNC") such that the aggregate principal amount was increased to up to $ 225,000 (the "PNC Facility") to be used for working capital and other corporate activities. The facility is unsecured. 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 June 30, 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 June 30, 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. This facility is unsecured and is guaranteed by Evercore LP and other affiliates, pursuant to a guaranty agreement, which provides for certain reporting requirements and debt covenants consistent with the PNC Facility. 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 June 30, 2026. 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: 30 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) June 30, 2026 2025 Cash and Cash Equivalents $ 1,256,599 $ 617,298 Restricted Cash included in Other Assets 10,600 9,951 Total Cash, Cash Equivalents and Restricted Cash shown in the Statement of Cash Flows $ 1,267,199 $ 627,249 Restricted Cash included in Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition primarily represents letters of credit which are secured by cash as collateral for the lease of office space and security deposits for certain equipment. The restrictions will lapse when the leases end. 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 June 30, 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, 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. Subject to the foregoing, the Company believes, based on current knowledge and after consultation with counsel, that it is not currently party to any material pending proceedings, individually or in the aggregate, the resolution of which would have a material effect on the Company. Provisions for losses are established in accordance with ASC 450, "Contingencies" ("ASC 450") when warranted. Once established, such provisions are adjusted when there is more information available or when an event occurs requiring a change. The Company and its subsidiaries are subject to employment and tax laws, regulations and treaties in various U.S. and non-U.S. jurisdictions. These laws, regulations and treaties are complex, and the manner in which they apply to the Company’s facts and circumstances is open to evolving interpretation. Although management believes it has applied these laws, regulations and treaties in a compliant manner, evolving interpretations could adversely impact the Company's tax position. A recent decision by a non-U.S. judicial authority found that certain members of a partnership are considered employees for the purpose of certain employment taxes. The Company and its subsidiaries were not a party to the proceedings. However, the Company has considered the conclusions and guidance provided by the court's judgment and has determined that it is appropriate to establish a loss provision of $ 21,315 , which has been included within Special Charges, Including Business Realignment Costs, on the Unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2026, bringing the Company's estimated liability for employment taxes related to prior years to $ 24,876 , included within Accrued Compensation and Benefits on the Unaudited Condensed Consolidated Statement of Financial Condition as of June 30, 2026. The Company will continue to review its tax position relating to this matter and will adjust this estimate as appropriate in future periods. Note 17 – Regulatory Authorities EGL is a U.S. registered broker-dealer and is subject to the net capital requirements of Rule 15c3-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Under the Alternative Net Capital Requirement, EGL's minimum net capital requirement is $ 250 . EGL's regulatory net capital as of June 30, 2026 and December 31, 2025 was $ 796,064 and $ 373,081 , respectively, which exceeded the minimum net capital requirement by $ 795,814 and $ 372,831 , respectively. 31 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) Evercore Trust Company, N.A. ("ETC"), which is limited to fiduciary activities, is regulated by the Office of the Comptroller of the Currency ("OCC") and is a member bank of the Federal Reserve System. 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 June 30, 2026. Evercore U.K., our U.K. Advisory affiliate, is regulated by the Financial Conduct Authority. The regulatory capital requirement of Evercore U.K. as of June 30, 2026 and December 31, 2025 was $ 291,720 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 June 30, 2026. Note 18 – Income Taxes The Company's Provision for Income Taxes was $ 41,094 and $ 50,150 for the three and six months ended June 30, 2026, respectively, and $ 44,265 and $ 2,538 for the three and six months ended June 30, 2025, respectively. The effective tax rate was 27.8 % and 10.5 % for the three and six months ended June 30, 2026, respectively, and 29.3 % and 1.0 % for the three and six months ended June 30, 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 $ 91,422 and $ 74,954 for the six months ended June 30, 2026 and 2025, respectively, which resulted in a reduction in the effective tax rate of 19.1 and 28.5 percentage points for the six months ended June 30, 2026 and 2025, respectively. The effective tax rate for 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. The U.S. 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. tax rules. 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 six months ended June 30, 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 $ 45 associated with changes in Unrealized Gain (Loss) on Securities and Investments and an increase of $ 3,284 associated with changes in Foreign Currency Translation Adjustment Gain (Loss), in Accumulated Other Comprehensive Income (Loss), for the six months ended June 30, 2026. The Company recorded an increase in deferred tax assets of $ 71 associated with changes in Unrealized Gain (Loss) on Securities and Investments and a decrease of $ 9,106 associated with changes in Foreign Currency Translation Adjustment Gain (Loss), in Accumulated Other Comprehensive Income (Loss), for the six months ended June 30, 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 June 30, 2026, there were $ 481 of unrecognized tax benefits that, if recognized, $ 387 would affect the effective tax rate. Related to the unrecognized tax benefits, the Company accrued interest and penalties of $ 179 and $ 48 , respectively, during the three months ended June 30, 2026. In addition, during 32 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) the quarter, the Company reached an audit settlement with the Tax Authorities and $ 126 of unrecognized tax benefits were recognized by the Company, of which $ 103 affected the effective tax rate. The Company also recognized a tax benefit for the accrued interest and penalties of $ 32 and $ 31 , respectively, during the three months ended June 30, 2026, associated with the settlement. Note 19 – Segment Operating Results Business Segments – The Company's business results are categorized into the following two segments: Investment Banking & Equities and Investment Management. 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. 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. The Company's segment information is prepared using the following methodology: • Revenue, expenses and income (loss) from equity method investments directly associated with each segment are included in determining pre-tax income. • Expenses not directly associated with specific segments are allocated based on the most relevant measures applicable, including headcount, square footage and other performance and time-based factors. • Segment assets are based on those directly associated with each segment, or for certain assets shared across segments, those assets are allocated based on the most relevant measures applicable, including headcount and other factors. • Investment gains and losses, interest income and interest expense are allocated between the segments based on the segment in which the underlying asset or liability is held. Other Revenue, net, included in each segment's Net Revenues includes the following: • 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 • Gains (losses) resulting from foreign currency exchange rate fluctuations • 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, 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 Each segment's expenses include: a) employee compensation and benefits expenses that are incurred directly in support of the segment and b) non-compensation expenses, which include expenses for premises and occupancy, professional fees, travel and entertainment, technology and information services, execution, clearing and custody fees, equipment and indirect support costs (including compensation and other operating expenses related thereto) for corporate services. 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 six months ended June 30, 2026 also include Special Charges, Including Business Realignment Costs, related to an estimated loss provision for non-U.S. employment taxes for prior periods. See Note 16 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 Chief Operating Decision Maker ("CODM"). For both segments, the CODM reviews net revenues and pre-tax income against 33 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) 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 six months ended June 30, 2026 and 2025, respectively. The following information presents each segment's contribution. For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Investment Banking & Equities Net Revenues (1) $ 966,877 $ 812,171 $ 2,335,627 $ 1,486,703 Employee Compensation and Benefits 627,299 535,447 1,516,453 983,476 Non-Compensation (2) 175,789 130,773 328,445 250,547 Special Charges, Including Business Realignment Costs 21,315 — 21,315 — Operating Income 142,474 145,951 469,414 252,680 Income (Loss) from Equity Method Investments 18 11 26 ( 27 ) Pre-Tax Income $ 142,492 $ 145,962 $ 469,440 $ 252,653 Identifiable Segment Assets $ 4,577,617 $ 3,575,400 $ 4,577,617 $ 3,575,400 Investment Management Net Revenues (1) $ 23,322 $ 21,659 $ 46,150 $ 41,956 Employee Compensation and Benefits 14,492 13,164 29,408 24,960 Non-Compensation (2) 4,728 4,057 8,854 8,103 Operating Income 4,102 4,438 7,888 8,893 Income from Equity Method Investments 1,000 804 2,043 1,721 Pre-Tax Income $ 5,102 $ 5,242 $ 9,931 $ 10,614 Identifiable Segment Assets $ 123,178 $ 114,259 $ 123,178 $ 114,259 Total Net Revenues (1) $ 990,199 $ 833,830 $ 2,381,777 $ 1,528,659 Employee Compensation and Benefits 641,791 548,611 1,545,861 1,008,436 Non-Compensation (2) 180,517 134,830 337,299 258,650 Special Charges, Including Business Realignment Costs 21,315 — 21,315 — Operating Income 146,576 150,389 477,302 261,573 Income from Equity Method Investments 1,018 815 2,069 1,694 Pre-Tax Income $ 147,594 $ 151,204 $ 479,371 $ 263,267 Identifiable Segment Assets $ 4,700,795 $ 3,689,659 $ 4,700,795 $ 3,689,659 (1) Net Revenues include Other Revenue, net, allocated to the segments as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Investment Banking & Equities (A) $ 30,681 $ 23,949 $ 36,966 $ 31,767 Investment Management (B) ( 333 ) 975 ( 148 ) 289 Total Other Revenue, net $ 30,348 $ 24,924 $ 36,818 $ 32,056 34 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) (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 $ 8,096 and $ 16,874 for the three and six months ended June 30, 2026, respectively, and $ 4,210 and $ 8,403 for the three and six months ended June 30, 2025, respectively. (B) Other Revenue, net, from the Investment Management segment includes interest expense on mandatorily redeemable interests of $ 202 and $ 315 for the three and six months ended June 30, 2026, respectively. (2) Non-Compensation expenses are as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Investment Banking & Equities Occupancy and Equipment Rental $ 29,084 $ 26,261 $ 55,522 $ 51,364 Professional Fees 32,198 22,059 59,737 43,203 Travel and Related Expenses 34,903 23,729 62,510 45,540 Technology and Information Services 42,277 35,411 81,236 67,663 Depreciation and Amortization 12,413 6,342 24,699 12,235 Execution, Clearing and Custody Fees 2,556 2,729 5,256 5,612 Acquisition and Transition Costs — 1,637 1,800 1,637 Other Operating Expenses 22,358 12,605 37,685 23,293 Total Non-Compensation $ 175,789 $ 130,773 $ 328,445 $ 250,547 Investment Management Occupancy and Equipment Rental $ 642 $ 653 $ 1,269 $ 1,281 Professional Fees 846 1,074 1,662 2,320 Travel and Related Expenses 428 255 692 462 Technology and Information Services 1,684 1,176 3,143 2,291 Depreciation and Amortization 164 108 316 191 Execution, Clearing and Custody Fees 496 451 983 914 Other Operating Expenses 468 340 789 644 Total Non-Compensation $ 4,728 $ 4,057 $ 8,854 $ 8,103 Total Occupancy and Equipment Rental $ 29,726 $ 26,914 $ 56,791 $ 52,645 Professional Fees 33,044 23,133 61,399 45,523 Travel and Related Expenses 35,331 23,984 63,202 46,002 Technology and Information Services 43,961 36,587 84,379 69,954 Depreciation and Amortization 12,577 6,450 25,015 12,426 Execution, Clearing and Custody Fees 3,052 3,180 6,239 6,526 Acquisition and Transition Costs — 1,637 1,800 1,637 Other Operating Expenses 22,826 12,945 38,474 23,937 Total Non-Compensation $ 180,517 $ 134,830 $ 337,299 $ 258,650 Geographic Information – The Company manages its business based on the profitability of the enterprise as a whole. The Company's revenues were derived from clients located and managed in the following geographical areas: 35 Table of Contents EVERCORE INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share amounts, unless otherwise noted) For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Net Revenues: (1) Americas (2) $ 778,464 $ 674,845 $ 1,930,442 $ 1,262,750 Europe, Middle East and Africa ("EMEA") 172,944 126,428 391,950 199,085 Asia-Pacific 8,443 7,633 22,567 34,768 Total $ 959,851 $ 808,906 $ 2,344,959 $ 1,496,603 (1) Excludes Other Revenue, Including Interest and Investments, and Interest Expense. (2) Primarily includes revenue attributable to the United States of $ 768,281 and $ 1,826,255 for the three and six months ended June 30, 2026, respectively, and $ 617,681 and $ 1,177,482 for the three and six months ended June 30, 2025, respectively. The Company's total assets are located in the following geographical areas: June 30, 2026 December 31, 2025 Total Assets: Americas (1) $ 2,863,749 $ 3,396,905 EMEA (2) 1,766,899 1,887,541 Asia-Pacific 70,147 73,651 Total $ 4,700,795 $ 5,358,097 (1) Primarily includes assets located in the United States. (2) Primarily includes assets located in the United Kingdom. 36 Table of Contents