Document

Exhibit 99.2

Capital One Financial Corporation

Financial Supplement(1)(2)(3)(4)

Second Quarter 2026

Table of Contents


Capital One Financial Corporation Consolidated Results			Page
	Table 1:	Financial Summary—Consolidated	1
	Table 2:	Selected Metrics—Consolidated	3
	Table 3:	Consolidated Statements of Income	4
	Table 4:	Consolidated Balance Sheets	6
	Table 5:	Notes to Financial Summary, Selected Metrics and Consolidated Financial Statements (Tables 1—4)	8
	Table 6:	Average Balances, Net Interest Income and Net Interest Margin	9
	Table 7:	Loan Information and Performance Statistics	10
	Table 8:	Allowance for Credit Losses and Reserve for Unfunded Lending Commitments Activity	13
Business Segment Results
	Table 9:	Financial Summary—Business Segment Results	14
	Table 10:	Financial & Statistical Summary—Credit Card Business	15
	Table 11:	Financial & Statistical Summary—Consumer Banking Business	17
	Table 12:	Financial & Statistical Summary—Commercial Banking Business	18
	Table 13:	Financial & Statistical Summary—Other and Total	19
Other
	Table 14:	Notes to Net Interest Margin, Loan, Allowance and Business Segment Disclosures (Tables 6—13)	20
	Table 15:	Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures	21
	Table 16:	Notes to Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures (Table 15)	26

__________

(1)The information contained in this Financial Supplement is preliminary and based on data available at the time of the earnings presentation. Investors should refer to our Quarterly Report on Form 10-Q for the period ended June 30, 2026 once it is filed with the Securities and Exchange Commission.

(2)This Financial Supplement includes non-GAAP measures. We believe these non-GAAP measures are useful to investors and users of our financial information as they provide an alternate measurement of our performance and assist when assessing returns and capital management over time. These non-GAAP measures should not be viewed as a substitute for reported results determined in accordance with generally accepted accounting principles in the U.S. (“GAAP”), nor are they necessarily comparable to non-GAAP measures that may be presented by other companies. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for a reconciliation of any non-GAAP financial measures.

(3)On May 18, 2025, we completed the Discover acquisition in an all-stock transaction as outlined in the merger agreement dated February 19, 2024.

(4)On April 7, 2026, we completed the acquisition of Brex in a combination of stock and cash transaction. Brex results and statistics reported herein are from April 7, 2026 to June 30, 2026 and included within the Credit Card business.

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 1: Financial Summary—Consolidated


											2026 Q2				Six Months Ended June 30,
(Dollars in millions, except per share data and as noted)	2026		2026		2025		2025		2025		2026		2025						2026 vs.
	Q2		Q1		Q4		Q3		Q2		Q1		Q2		2026		2025		2025
Income Statement
Net interest income	$	12,374	$	12,145	$	12,466	$	12,404	$	9,995	2	%	24	%	$	24,519	$	18,008	36	%
Non-interest income	3,476		3,086		3,117		2,955		2,497		13		39		6,562		4,484		46
Total net revenue(1)	15,850		15,231		15,583		15,359		12,492		4		27		31,081		22,492		38
Provision for credit losses	2,989		4,068		4,142		2,714		11,430		(27)		(74)		7,057		13,799		(49)
Non-interest expense:
Marketing	1,661		1,497		1,934		1,403		1,345		11		23		3,158		2,547		24
Operating expense	7,382		6,967		7,408		6,860		5,646		6		31		14,349		10,346		39
Total non-interest expense	9,043		8,464		9,342		8,263		6,991		7		29		17,507		12,893		36
Income (loss) from continuing operations before income taxes	3,818		2,699		2,099		4,382		(5,929)		41		**		6,517		(4,200)		**
Income tax provision (benefit)	798		518		345		1,189		(1,666)		54		**		1,316		(1,341)		**
Income (loss) from continuing operations, net of tax	3,020		2,181		1,754		3,193		(4,263)		38		**		5,201		(2,859)		**
Income (loss) from discontinued operations, net of tax	—		(7)		380		(1)		(14)		**		**		(7)		(14)		(50)
Net income (loss)	3,020		2,174		2,134		3,192		(4,277)		39		**		5,194		(2,873)		**
Dividends and undistributed earnings allocated to participating securities(2)	(28)		(20)		(20)		(33)		(4)		40		**		(48)		(9)		**
Preferred stock dividends	(57)		(73)		(57)		(73)		(65)		(22)		(12)		(130)		(122)		7
Discount on redeemed preferred stock	—		—		—		—		6		—		**		—		6		**
Net income (loss) available to common stockholders	$	2,935	$	2,081	$	2,057	$	3,086	$	(4,340)	41	%	**		$	5,016	$	(2,998)	**
Common Share Statistics
Basic earnings per common share:(2)
Net income (loss) from continuing operations	$	4.73	$	3.35	$	2.66	$	4.83	$	(8.55)	41	%	**		$	8.08	$	(6.71)	**
Income (loss) from discontinued operations	—		(0.01)		0.60		—		(0.03)		**		**		(0.01)		(0.03)		(67)	%
Net income (loss) per basic common share	$	4.73	$	3.34	$	3.26	$	4.83	$	(8.58)	42		**		$	8.07	$	(6.74)	**
Diluted earnings per common share:(2)
Net income (loss) from continuing operations	$	4.73	$	3.35	$	2.66	$	4.83	$	(8.55)	41	%	**		$	8.08	$	(6.71)	**
Income (loss) from discontinued operations	—		(0.01)		0.60		—		(0.03)		**		**		(0.01)		(0.03)		(67)	%
Net income (loss) per diluted common share	$	4.73	$	3.34	$	3.26	$	4.83	$	(8.58)	42		**		$	8.07	$	(6.74)	**
Weighted-average common shares outstanding (in millions):
Basic	620.5		622.5		631.1		639.0		505.6		—		23	%	621.5		444.7		40	%
Diluted	621.1		623.4		631.6		639.5		505.6		—		23		622.3		444.7		40
Common shares outstanding (period-end, in millions)	613.5		615.9		625.1		635.7		639.5		—		(4)		613.5		639.5		(4)
Dividends declared and paid per common share	$	0.80	$	0.80	$	0.80	$	0.60	$	0.60	—		33		$	1.60	$	1.20	33
Tangible book value per common share (period-end)(3)	105.21		107.76		107.72		105.18		99.35		(2)	%	6		105.21		99.35		6


											2026 Q2				Six Months Ended June 30,
(Dollars in millions)	2026		2026		2025		2025		2025		2026		2025						2026 vs.
	Q2		Q1		Q4		Q3		Q2		Q1		Q2		2026		2025		2025
Balance Sheet (Period-End)
Loans held for investment	$	457,168	$	447,754	$	453,622	$	443,159	$	439,297	2	%	4	%	$	457,168	$	439,297	4	%
Interest-earning assets	610,913		624,560		613,750		605,235		601,999		(2)		1		610,913		601,999		1
Total assets	673,835		682,905		669,009		661,877		658,968		(1)		2		673,835		658,968		2
Interest-bearing deposits	456,464		461,117		448,386		441,136		440,231		(1)		4		456,464		440,231		4
Total deposits	484,257		489,053		475,771		468,785		468,110		(1)		3		484,257		468,110		3
Borrowings	45,371		51,888		51,000		51,482		52,666		(13)		(14)		45,371		52,666		(14)
Common equity	108,386		106,854		108,209		108,406		105,549		1		3		108,386		105,549		3
Total stockholders’ equity	113,793		112,261		113,616		113,813		110,956		1		3		113,793		110,956		3
Balance Sheet (Average Balances)
Loans held for investment	$	450,679	$	446,235	$	444,680	$	439,859	$	378,157	1	%	19	%	$	448,469	$	350,425	28	%
Interest-earning assets	617,583		617,173		603,730		593,247		524,929		—		18		617,378		494,022		25
Total assets	682,079		675,999		665,656		657,858		572,446		1		19		679,050		532,354		28
Interest-bearing deposits	458,130		451,957		442,763		439,527		387,139		1		18		455,060		362,626		25
Total deposits	486,791		479,958		470,965		467,280		414,568		1		17		483,393		389,462		24
Borrowings	49,092		52,348		50,814		50,180		46,601		(6)		5		50,710		45,531		11
Common equity	109,111		109,149		109,997		107,412		81,563		—		34		109,130		69,546		57
Total stockholders’ equity	114,518		114,556		115,404		112,819		86,918		—		32		114,537		74,647		53

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 2: Selected Metrics—Consolidated


																2026 Q2				Six Months Ended June 30,
(Dollars in millions, except as noted)	2026			2026			2025			2025			2025			2026		2025								2026 vs.
	Q2			Q1			Q4			Q3			Q2			Q1		Q2		2026			2025			2025
Performance Metrics
Net interest income growth (period over period)	2		%	(3)		%	—		%	24		%	25		%	**		**		36		%	20		%	**
Non-interest income growth (period over period)	13			(1)			5			18			26			**		**		46			16			**
Total net revenue growth (period over period)	4			(2)			1			23			25			**		**		38			19			**
Total net revenue margin(4)	10.27			9.87			10.32			10.36			9.52			40	bps	75	bps	10.07			9.11			96	bps
Net interest margin(5)	8.01			7.87			8.26			8.36			7.62			14		39		7.94			7.29			65
Return on average assets(6)	1.77			1.29			1.05			1.94			(2.98)			48		475		1.53			(1.07)			260
Return on average tangible assets(7)	1.89			1.37			1.12			2.07			(3.14)			52		503		1.63			(1.12)			275
Return on average common equity(8)	10.76			7.65			6.10			11.50			(21.22)			311		3,198		9.21			(8.58)			1,779
Return on average tangible common equity(9)	18.04			12.20			9.74			18.82			(32.99)			584		5,103		15.05			(12.60)			2,765

Efficiency ratio(10)	57.05			55.57			59.95			53.80			55.96			148		109		56.33			57.32			(99)
Operating efficiency ratio(11)	46.57			45.74			47.54			44.66			45.20			83		137		46.17			46.00			17
Effective income tax rate for continuing operations	20.9			19.2			16.4			27.1			28.1			170		(720)		20.2			31.9			(1,170)
Employees (period-end, in thousands)	78.4			77.1			76.3			77.0			76.5			2%		2%		78.4			76.5			2%
Credit Quality Metrics
Allowance for credit losses	$	22,966		$	23,630		$	23,409		$	23,103		$	23,873		(3)%		(4)%		$	22,966		$	23,873		(4)%
Allowance coverage ratio	5.02		%	5.28		%	5.16		%	5.21		%	5.43		%	(26)	bps	(41)	bps	5.02		%	5.43		%	(41)	bps
Net charge-offs(12)	$	3,642		$	3,847		$	3,833		$	3,473		$	3,060		—		19%		$	7,489		$	5,796		29%
Net charge-off rate(13)	3.23		%	3.45		%	3.45		%	3.16		%	3.24		%	(22)	bps	(1)	bps	3.34		%	3.31		%	3	bps
30+ day performing delinquency rate	2.91			3.04			3.41			3.29			3.13			(13)		(22)		2.91			3.13			(22)
30+ day delinquency rate	3.13			3.24			3.59			3.50			3.32			(11)		(19)		3.13			3.32			(19)
Capital Ratios(14)
Common equity Tier 1 capital	13.7		%	14.4		%	14.3		%	14.4		%	14.0		%	(70)	bps	(30)	bps	13.7		%	14.0		%	(30)	bps
Tier 1 capital	14.8			15.4			15.3			15.5			15.1			(60)		(30)		14.8			15.1			(30)
Total capital	16.6			17.3			17.2			17.3			17.1			(70)		(50)		16.6			17.1			(50)
Tier 1 leverage	11.8			12.2			12.5			12.6			14.2			(40)		(240)		11.8			14.2			(240)
Tangible common equity (“TCE”)(15)	10.2			10.3			10.7			10.8			10.3			(10)		(10)		10.2			10.3			(10)

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 3: Consolidated Statements of Income


											2026 Q2		Six Months Ended June 30,
(Dollars in millions, except as noted)	2026		2026		2025		2025		2025		2026	2025					2026 vs.
	Q2		Q1		Q4		Q3		Q2		Q1	Q2	2026		2025		2025
Interest income:
Loans, including loans held for sale	$	14,911	$	14,735	$	15,186	$	15,229	$	12,449	1%	20%	$	29,646	$	22,606	31%
Investment securities	850		832		841		823		784		2	8	1,682		1,554		8
Other	624		664		660		711		595		(6)	5	1,288		1,086		19
Total interest income	16,385		16,231		16,687		16,763		13,828		1	18	32,616		25,246		29
Interest expense:
Deposits	3,338		3,387		3,493		3,597		3,120		(1)	7	6,725		5,835		15
Securitized debt obligations	117		141		155		165		164		(17)	(29)	258		340		(24)
Senior and subordinated notes	535		532		550		582		535		1	—	1,067		1,040		3
Other borrowings	21		26		23		15		14		(19)	50	47		23		104
Total interest expense	4,011		4,086		4,221		4,359		3,833		(2)	5	8,097		7,238		12
Net interest income	12,374		12,145		12,466		12,404		9,995		2	24	24,519		18,008		36
Provision for credit losses	2,989		4,068		4,142		2,714		11,430		(27)	(74)	7,057		13,799		(49)
Net interest income (loss) after provision for credit losses	9,385		8,077		8,324		9,690		(1,435)		16	**	17,462		4,209		**
Non-interest income:
Discount and interchange fees, net	2,256		1,964		1,930		1,812		1,478		15	53	4,220		2,701		56
Service charges and other customer-related fees	808		809		833		849		658		—	23	1,617		1,167		39

Other	412		313		354		294		361		32	14	725		616		18
Total non-interest income	3,476		3,086		3,117		2,955		2,497		13	39	6,562		4,484		46
Non-interest expense:
Salaries and associate benefits	3,769		3,671		3,430		3,496		2,999		3	26	7,440		5,545		34
Occupancy and equipment	969		867		958		856		737		12	31	1,836		1,352		36
Marketing	1,661		1,497		1,934		1,403		1,345		11	23	3,158		2,547		24
Professional services	667		585		693		641		653		14	2	1,252		1,090		15
Communications and data processing	489		496		482		476		413		(1)	18	985		812		21
Amortization of intangibles	507		492		525		514		271		3	87	999		287		**
Other	981		856		1,320		877		573		15	71	1,837		1,260		46
Total non-interest expense	9,043		8,464		9,342		8,263		6,991		7	29	17,507		12,893		36
Income (loss) from continuing operations before income taxes	3,818		2,699		2,099		4,382		(5,929)		41	**	6,517		(4,200)		**
Income tax provision (benefit)	798		518		345		1,189		(1,666)		54	**	1,316		(1,341)		**
Income (loss) from continuing operations, net of tax	3,020		2,181		1,754		3,193		(4,263)		38	**	5,201		(2,859)		**
Income (loss) from discontinued operations, net of tax	—		(7)		380		(1)		(14)		**	**	(7)		(14)		(50)
Net income (loss)	3,020		2,174		2,134		3,192		(4,277)		39	**	5,194		(2,873)		**
Dividends and undistributed earnings allocated to participating securities(2)	(28)		(20)		(20)		(33)		(4)		40	**	(48)		(9)		**
Preferred stock dividends	(57)		(73)		(57)		(73)		(65)		(22)	(12)%	(130)		(122)		7%
Discount on redeemed preferred stock	—		—		—		—		6		—	**	—		6		**
Net income (loss) available to common stockholders	$	2,935	$	2,081	$	2,057	$	3,086	$	(4,340)	41%	**	$	5,016	$	(2,998)	**


											2026 Q2		Six Months Ended June 30,
	2026		2026		2025		2025		2025		2026	2025					2026 vs.
	Q2		Q1		Q4		Q3		Q2		Q1	Q2	2026		2025		2025
Basic earnings per common share:(2)
Net income (loss) from continuing operations	$	4.73	$	3.35	$	2.66	$	4.83	$	(8.55)	41%	**	$	8.08	$	(6.71)	**
Income (loss) from discontinued operations	—		(0.01)		0.60		—		(0.03)		**	**	(0.01)		(0.03)		(67)%
Net income (loss) per basic common share	$	4.73	$	3.34	$	3.26	$	4.83	$	(8.58)	42%	**	$	8.07	$	(6.74)	**
Diluted earnings per common share:(2)
Net income (loss) from continuing operations	$	4.73	$	3.35	$	2.66	$	4.83	$	(8.55)	41%	**	$	8.08	$	(6.71)	**
Income (loss) from discontinued operations	—		(0.01)		0.60		—		(0.03)		**	**	(0.01)		(0.03)		(67)%
Net income (loss) per diluted common share	$	4.73	$	3.34	$	3.26	$	4.83	$	(8.58)	42%	**	$	8.07	$	(6.74)	**
Weighted-average common shares outstanding (in millions):
Basic common shares	620.5		622.5		631.1		639.0		505.6		—	23%	621.5		444.7		40%
Diluted common shares	621.1		623.4		631.6		639.5		505.6		—	23	622.3		444.7		40

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 4: Consolidated Balance Sheets


											2026 Q2
	2026		2026		2025		2025		2025		2026		2025
(Dollars in millions)	Q2		Q1		Q4		Q3		Q2		Q1		Q2
Assets:
Cash and cash equivalents:
Cash and due from banks	$	4,834	$	4,555	$	3,031	$	4,606	$	4,854	6	%	—	%
Interest-bearing deposits and other short-term investments	49,880		71,939		54,403		50,673		54,255		(31)		(8)
Total cash and cash equivalents	54,714		76,494		57,434		55,279		59,109		(28)		(7)
Restricted cash for securitization investors	1,167		2,762		4,659		3,248		2,469		(58)		(53)

Investment securities:
Investment securities available for sale	90,041		90,620		91,051		89,733		87,196		(1)		3
Investment securities held to maturity	2,737		1,694		—		—		—		62		**
Total investment securities	92,778		92,314		91,051		89,733		87,196		1		6
Loans held for investment:
Unsecuritized loans held for investment	431,440		421,360		425,665		389,808		384,413		2		12
Loans held in consolidated trusts(16)	25,728		26,394		27,957		53,351		54,884		(3)		(53)
Total loans held for investment	457,168		447,754		453,622		443,159		439,297		2		4
Allowance for credit losses	(22,966)		(23,630)		(23,409)		(23,103)		(23,873)		(3)		(4)
Net loans held for investment	434,202		424,124		430,213		420,056		415,424		2		5
Loans held for sale	264		186		760		670		198		42		33
Premises and equipment, net	6,244		5,730		5,602		5,576		5,687		9		10
Interest receivable	3,432		3,460		3,492		3,456		3,373		(1)		2
Goodwill	31,866		28,502		28,509		28,863		28,335		12		12
Other intangible assets	16,077		16,087		16,578		17,042		18,157		—		(11)
Other assets	33,091		33,246		30,711		29,957		30,904		—		7
Assets of discontinued operations	—		—		—		7,997		8,116		—		**
Total assets	$	673,835	$	682,905	$	669,009	$	661,877	$	658,968	(1)	%	2	%


											2026 Q2
	2026		2026		2025		2025		2025		2026		2025
(Dollars in millions)	Q2		Q1		Q4		Q3		Q2		Q1		Q2
Liabilities:
Interest payable	$	816	$	827	$	844	$	826	$	888	(1)	%	(8)	%
Deposits:
Non-interest-bearing deposits	27,793		27,936		27,385		27,649		27,879		(1)		—
Interest-bearing deposits	456,464		461,117		448,386		441,136		440,231		(1)		4
Total deposits	484,257		489,053		475,771		468,785		468,110		(1)		3
Securitized debt obligations	8,502		11,283		12,853		13,642		14,658		(25)		(42)
Other debt:
Federal funds purchased and securities loaned or sold under agreements to repurchase	694		626		587		616		742		11		(6)
Senior and subordinated notes	35,620		38,421		36,001		36,662		36,706		(7)		(3)
Other borrowings	555		1,558		1,559		562		560		(64)		(1)
Total other debt	36,869		40,605		38,147		37,840		38,008		(9)		(3)
Other liabilities	29,598		28,876		27,778		26,941		26,316		3		12
Liabilities of discontinued operations	—		—		—		30		32		—		**
Total liabilities	560,042		570,644		555,393		548,064		548,012		(2)		2

Stockholders’ equity:
Preferred stock	0		0		0		0		0		—		—
Common stock	7		7		7		7		7		—		—
Additional paid-in capital, net	65,105		64,284		64,031		63,725		63,465		1		3
Retained earnings	69,250		66,788		65,192		63,624		60,892		4		14
Accumulated other comprehensive loss	(6,300)		(5,879)		(5,468)		(5,917)		(6,819)		7		(8)
Treasury stock, at cost	(14,269)		(12,939)		(10,146)		(7,626)		(6,589)		10		117
Total stockholders’ equity	113,793		112,261		113,616		113,813		110,956		1		3
Total liabilities and stockholders’ equity	$	673,835	$	682,905	$	669,009	$	661,877	$	658,968	(1)	%	2	%

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 5: Notes to Financial Summary, Selected Metrics and Consolidated Financial Statements (Tables 1—4)

(1)Total net revenue was reduced by $898 million in Q2 2026, $980 million in Q1 2026, $941 million in Q4 2025, $869 million in Q3 2025 and $785 million in Q2 2025 for credit card finance charges and fees charged off as uncollectible.

(2)Dividends and undistributed earnings allocated to participating securities and earnings per share are computed independently for each period. Accordingly, the sum of each quarterly amount may not agree to the year-to-date total. We also provide adjusted diluted earnings per share, which is a non-GAAP measure. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for additional information on our non-GAAP measures.

(3)Tangible book value per common share is a non-GAAP measure calculated based on TCE divided by common shares outstanding. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for additional information on non-GAAP measures.

(4)Total net revenue margin is calculated based on annualized total net revenue for the period divided by average interest-earning assets for the period.

(5)Net interest margin is calculated based on annualized net interest income for the period divided by average interest-earning assets for the period.

(6)Return on average assets is calculated based on annualized net income (loss) less annualized income (loss) from discontinued operations, net of tax, for the period divided by average total assets for the period.

(7)Return on average tangible assets is a non-GAAP measure calculated based on annualized net income (loss) less annualized income (loss) from discontinued operations, net of tax, for the period divided by average tangible assets for the period. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for additional information on non-GAAP measures.

(8)Return on average common equity is calculated based on annualized net income (loss) available to common stockholders less annualized income (loss) from discontinued operations, net of tax, for the period, divided by average common equity. Our calculation of return on average common equity may not be comparable to similarly-titled measures reported by other companies.

(9)Return on average tangible common equity is a non-GAAP measure calculated based on annualized net income (loss) available to common stockholders less annualized income (loss) from discontinued operations, net of tax, for the period, divided by average TCE. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for additional information on non-GAAP measures.

(10)Efficiency ratio is calculated based on total non-interest expense for the period divided by total net revenue for the period. We also provide an adjusted efficiency ratio, which is a non-GAAP measure. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for additional information on our non-GAAP measures.

(11)Operating efficiency ratio is calculated based on operating expense for the period divided by total net revenue for the period. We also provide an adjusted operating efficiency ratio, which is a non-GAAP measure. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for additional information on our non-GAAP measures.

(12)Charge-offs exclude $19.4 billion of Discover loans acquired in the second quarter of 2025 that were fully charged-off, with expected recoveries of $3.3 billion included as a benefit to the allowance for credit losses.

(13)Net charge-off rate is calculated based on annualized net charge-offs for the period divided by average loans held for investment for the period.

(14)Capital ratios as of the end of Q2 2026 are preliminary and therefore subject to change. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for information on the calculation of each of these ratios.

(15)TCE ratio is a non-GAAP measure calculated based on TCE divided by tangible assets. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for additional information on non-GAAP measures.

(16)On December 18, 2025, after giving effect to the Discover Card Execution Note Trust (“DCENT”) Defeasance Amendments, Funding, as Beneficiary on behalf of DCENT, defeased the outstanding DiscoverSeries Class A(2021-2) Notes, Class A(2023-1) Notes, and Class A(2023-2) Notes (collectively, the “Class A Notes”) issued by DCENT.

** Not meaningful.

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 6: Average Balances, Net Interest Income and Net Interest Margin


	2026 Q2						2026 Q1						2025 Q2
(Dollars in millions, except as noted)	Average Balance		Interest Income/ Expense		Yield/Rate(1)		Average Balance		Interest Income/ Expense		Yield/Rate(1)		Average Balance		Interest Income/ Expense		Yield/Rate(1)
Interest-earning assets:
Loans, including loans held for sale	$	450,862	$	14,911	13.23	%	$	446,740	$	14,735	13.19	%	$	378,537	$	12,449	13.15	%
Investment securities	99,339		850		3.42		97,803		832		3.40		93,024		784		3.37
Cash equivalents and other	67,382		624		3.70		72,630		664		3.66		53,368		595		4.46
Total interest-earning assets	$	617,583	$	16,385	10.61	%	$	617,173	$	16,231	10.52	%	$	524,929	$	13,828	10.54	%
Interest-bearing liabilities:
Interest-bearing deposits	$	458,130	$	3,338	2.91	%	$	451,957	$	3,387	3.00	%	$	387,139	$	3,120	3.22	%
Securitized debt obligations	10,190		117		4.59		12,476		141		4.52		13,043		164		5.06
Senior and subordinated notes	37,498		535		5.70		37,846		532		5.63		32,872		535		6.51
Other borrowings and liabilities(2)	3,838		21		2.30		4,238		26		2.44		2,872		14		1.85
Total interest-bearing liabilities	$	509,656	$	4,011	3.15		$	506,517	$	4,086	3.23		$	435,926	$	3,833	3.52
Net interest income/spread			$	12,374	7.46				$	12,145	7.29				$	9,995	7.02
Impact of non-interest-bearing funding					0.55						0.58						0.60
Net interest margin					8.01	%					7.87	%					7.62	%




	Six Months Ended June 30,
	2026						2025
(Dollars in millions, except as noted)	Average Balance		Interest Income/ Expense		Yield/Rate(1)		Average Balance		Interest Income/ Expense		Yield/Rate(1)
Interest-earning assets:
Loans, including loans held for sale	$	448,812	$	29,646	13.21	%	$	350,808	$	22,606	12.89	%
Investment securities	98,575		1,682		3.41		92,843		1,554		3.35
Cash equivalents and other	69,991		1,288		3.68		50,371		1,086		4.31
Total interest-earning assets	$	617,378	$	32,616	10.57	%	$	494,022	$	25,246	10.22	%
Interest-bearing liabilities:
Interest-bearing deposits	$	455,060	$	6,725	2.96	%	$	362,626	$	5,835	3.22	%
Securitized debt obligations	11,326		258		4.55		13,385		340		5.09
Senior and subordinated notes	37,671		1,067		5.66		31,609		1,040		6.58
Other borrowings and liabilities(2)	4,037		47		2.37		2,593		23		1.73
Total interest-bearing liabilities	$	508,094	$	8,097	3.19		$	410,213	$	7,238	3.53
Net interest income/spread			$	24,519	7.38				$	18,008	6.69
Impact of non-interest-bearing funding					0.56						0.60
Net interest margin					7.94	%					7.29	%

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 7: Loan Information and Performance Statistics (3)


											2026 Q2				Six Months Ended June 30,
	2026		2026		2025		2025		2025		2026		2025		2026		2025		2026 vs.
(Dollars in millions, except as noted)	Q2		Q1		Q4		Q3		Q2		Q1		Q2						2025
Loans Held for Investment (Period-End)
Credit card:
Domestic credit card	$	259,005	$	254,028	$	262,403	$	253,951	$	252,481	2	%	3	%	$	259,005	$	252,481	3	%
Personal loans	8,619		9,070		9,499		9,646		9,788		(5)		(12)		8,619		9,788		(12)
International card businesses	7,784		7,460		7,668		7,440		7,440		4		5		7,784		7,440		5
Total credit card	275,408		270,558		279,570		271,037		269,709		2		2		275,408		269,709		2
Consumer banking:
Auto	89,311		85,700		83,600		82,035		80,017		4		12		89,311		80,017		12

Retail banking	1,156		1,173		1,190		1,195		1,216		(1)		(5)		1,156		1,216		(5)
Total consumer banking	90,467		86,873		84,790		83,230		81,233		4		11		90,467		81,233		11
Commercial banking:
Commercial and multifamily real estate	34,290		33,809		33,618		33,461		32,967		1		4		34,290		32,967		4
Commercial and industrial	57,003		56,514		55,644		55,431		55,388		1		3		57,003		55,388		3
Total commercial banking	91,293		90,323		89,262		88,892		88,355		1		3		91,293		88,355		3

Total loans held for investment	$	457,168	$	447,754	$	453,622	$	443,159	$	439,297	2	%	4	%	$	457,168	$	439,297	4	%
Loans Held for Investment (Average)
Credit card:
Domestic credit card	$	254,625	$	254,036	$	255,221	$	252,090	$	197,808	—	%	29	%	$	254,332	$	173,858	46	%
Personal loans	8,866		9,310		9,618		9,703		4,778		(5)		86		9,087		2,402		**
International card businesses	7,706		7,628		7,389		7,382		7,107		1		8		7,667		6,938		11
Total credit card	271,197		270,974		272,228		269,175		209,693		—		29		271,086		183,198		48
Consumer banking:
Auto	87,419		84,522		82,767		81,094		78,875		3		11		85,979		78,056		10

Retail banking	1,164		1,179		1,190		1,201		1,220		(1)		(5)		1,171		1,236		(5)
Total consumer banking	88,583		85,701		83,957		82,295		80,095		3		11		87,150		79,292		10
Commercial banking:
Commercial and multifamily real estate	33,978		33,539		33,155		33,104		32,522		1		4		33,759		32,129		5
Commercial and industrial	56,921		56,021		55,340		55,285		55,847		2		2		56,474		55,806		1
Total commercial banking	90,899		89,560		88,495		88,389		88,369		1		3		90,233		87,935		3
Total average loans held for investment	$	450,679	$	446,235	$	444,680	$	439,859	$	378,157	1	%	19	%	$	448,469	$	350,425	28	%


											2026 Q2				Six Months Ended June 30,
	2026		2026		2025		2025		2025		2026		2025		2026		2025		2026 vs.
	Q2		Q1		Q4		Q3		Q2		Q1		Q2						2025
Net Charge-Off (Recovery) Rates
Credit card(4):
Domestic credit card(5)	4.71	%	5.10	%	4.93	%	4.63	%	5.25	%	(39)	bps	(54)	bps	4.91	%	5.65	%	(74)	bps
Personal loans	3.77		3.81		4.08		3.81		3.47		(4)		30		3.79		3.46		33
International card businesses	5.82		4.65		5.29		5.07		5.17		117		65		5.24		5.10		14
Total credit card	4.71		5.05		4.91		4.61		5.20		(34)		(49)		4.88		5.60		(72)
Consumer banking:
Auto	1.43		1.64		1.82		1.54		1.25		(21)		18		1.53		1.40		13

Retail banking	5.39		5.99		6.04		4.41		4.54		(60)		85		5.69		4.65		104
Total consumer banking	1.48		1.70		1.88		1.58		1.30		(22)		18		1.59		1.45		14
Commercial banking:
Commercial and multifamily real estate	0.09		0.03		0.02		(0.09)		(0.06)		6		15		0.06		0.02		4
Commercial and industrial	0.80		0.44		0.67		0.38		0.55		36		25		0.62		0.33		29
Total commercial banking	0.53		0.29		0.43		0.21		0.33		24		20		0.41		0.22		19
Total net charge-offs	3.23		3.45		3.45		3.16		3.24		(22)		(1)		3.34		3.31		3
30+ Day Performing Delinquency Rates
Credit card:
Domestic credit card	3.39	%	3.70	%	3.99	%	3.89	%	3.60	%	(31)	bps	(21)	bps	3.39	%	3.60	%	(21)	bps
Personal loans	1.67		1.72		1.74		1.74		1.62		(5)		5		1.67		1.62		5
International card businesses	4.60		4.82		4.62		4.60		4.50		(22)		10		4.60		4.50		10
Total credit card	3.37		3.66		3.93		3.84		3.55		(29)		(18)		3.37		3.55		(18)
Consumer banking:
Auto	4.32		4.21		5.23		4.99		4.84		11		(52)		4.32		4.84		(52)

Retail banking	1.15		0.92		1.09		0.89		0.93		23		22		1.15		0.93		22
Total consumer banking	4.28		4.17		5.17		4.93		4.78		11		(50)		4.28		4.78		(50)


											2026 Q2				Six Months Ended June 30,
	2026		2026		2025		2025		2025		2026		2025		2026		2025		2026 vs.
	Q2		Q1		Q4		Q3		Q2		Q1		Q2						2025
Nonperforming Loans and Nonperforming Assets Rates(6)(7)
Credit card:
Personal loans	0.12	%	0.13	%	0.13	%	0.13	%	0.12	%	(1)	bps	—		0.12	%	0.12	%	—
International card businesses	0.18		0.15		0.16		0.16		0.16		3		2	bps	0.18		0.16		2	bps
Total credit card	0.01		0.01		0.01		0.01		0.01		—		—		0.01		0.01		—
Consumer banking:
Auto	0.61		0.55		0.68		0.71		0.73		6		(12)		0.61		0.73		(12)

Retail banking	1.59		1.66		1.45		1.65		1.47		(7)		12		1.59		1.47		12
Total consumer banking	0.62		0.57		0.69		0.73		0.74		5		(12)		0.62		0.74		(12)
Commercial banking:
Commercial and multifamily real estate	1.29		1.07		0.95		1.05		1.06		22		23		1.29		1.06		23
Commercial and industrial	1.33		1.60		1.60		1.59		1.45		(27)		(12)		1.33		1.45		(12)
Total commercial banking	1.32		1.40		1.36		1.39		1.30		(8)		2		1.32		1.30		2
Total nonperforming loans	0.39		0.40		0.40		0.42		0.40		(1)		(1)		0.39		0.40		(1)
Total nonperforming assets	0.43		0.43		0.43		0.44		0.42		—		1		0.43		0.42		1

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 8: Allowance for Credit Losses and Reserve for Unfunded Lending Commitments Activity




	Three Months Ended June 30, 2026
	Credit Card								Consumer Banking
(Dollars in millions)	Domestic Card		Personal Loans		International Card Businesses		Total Credit Card		Auto		Retail Banking		Total Consumer Banking		Commercial Banking		Total
Allowance for credit losses:
Balance as of March 31, 2026	$	18,806	$	702	$	541	$	20,049	$	2,026	$	21	$	2,047	$	1,534	$	23,630
Charge-offs	(4,182)		(116)		(160)		(4,458)		(683)		(19)		(702)		(123)		(5,283)
Recoveries	1,185		33		48		1,266		370		3		373		2		1,641
Net charge-offs	(2,997)		(83)		(112)		(3,192)		(313)		(16)		(329)		(121)		(3,642)


Provision for credit losses	2,292		37		145		2,474		429		15		444		62		2,980
Allowance build (release) for credit losses	(705)		(46)		33		(718)		116		(1)		115		(59)		(662)
Other changes(8)	—		—		(2)		(2)		—		—		—		—		(2)
Balance as of June 30, 2026	18,101		656		572		19,329		2,142		20		2,162		1,475		22,966
Reserve for unfunded lending commitments:
Balance as of March 31, 2026	—		—		—		—		—		—		—		133		133
Provision for losses on unfunded lending commitments	—		—		—		—		—		—		—		9		9

Balance as of June 30, 2026	—		—		—		—		—		—		—		142		142
Combined allowance and reserve as of June 30, 2026	$	18,101	$	656	$	572	$	19,329	$	2,142	$	20	$	2,162	$	1,617	$	23,108



	Six Months Ended June 30, 2026
	Credit Card								Consumer Banking
(Dollars in millions)	Domestic Card		Personal Loans		International Card Businesses		Total Credit Card		Auto		Retail Banking		Total Consumer Banking		Commercial Banking		Total
Allowance for credit losses:
Balance as of December 31, 2025	$	18,811	$	731	$	524	$	20,066	$	1,869	$	23	$	1,892	$	1,451	$	23,409
Charge-offs	(8,552)		(237)		(310)		(9,099)		(1,394)		(43)		(1,437)		(192)		(10,728)
Recoveries	2,314		65		109		2,488		735		9		744		7		3,239
Net charge-offs	(6,238)		(172)		(201)		(6,611)		(659)		(34)		(693)		(185)		(7,489)


Provision for credit losses	5,528		97		260		5,885		932		31		963		209		7,057
Allowance build (release) for credit losses	(710)		(75)		59		(726)		273		(3)		270		24		(432)
Other changes(8)	—		—		(11)		(11)		—		—		—		—		(11)
Balance as of June 30, 2026	18,101		656		572		19,329		2,142		20		2,162		1,475		22,966
Reserve for unfunded lending commitments:
Balance as of December 31, 2025	—		—		—		—		—		—		—		142		142


Provision (benefit) for losses on unfunded lending commitments	—		—		—		—		—		—		—		—		—

Balance as of June 30, 2026	—		—		—		—		—		—		—		142		142
Combined allowance and reserve as of June 30, 2026	$	18,101	$	656	$	572	$	19,329	$	2,142	$	20	$	2,162	$	1,617	$	23,108

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 9: Financial Summary—Business Segment Results(3)


	Three Months Ended June 30, 2026										Six Months Ended June 30, 2026
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(9)		Other(9)		Total		Credit Card		Consumer Banking		Commercial Banking(9)		Other(9)		Total
Net interest income	$	9,252	$	2,431	$	585	$	106	$	12,374	$	18,488	$	4,660	$	1,166	$	205	$	24,519
Non-interest income (loss)	2,513		778		265		(80)		3,476		4,666		1,461		593		(158)		6,562
Total net revenue	11,765		3,209		850		26		15,850		23,154		6,121		1,759		47		31,081
Provision for credit losses	2,474		444		71		—		2,989		5,885		963		209		—		7,057
Non-interest expense	6,098		2,121		462		362		9,043		11,599		4,119		960		829		17,507
Income (loss) from continuing operations before income taxes	3,193		644		317		(336)		3,818		5,670		1,039		590		(782)		6,517
Income tax provision (benefit)	782		158		78		(220)		798		1,390		255		145		(474)		1,316
Income (loss) from continuing operations, net of tax	$	2,411	$	486	$	239	$	(116)	$	3,020	$	4,280	$	784	$	445	$	(308)	$	5,201

	Three Months Ended March 31, 2026
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(9)		Other(9)		Total
Net interest income	$	9,236	$	2,229	$	581	$	99	$	12,145
Non-interest income (loss)	2,153		683		328		(78)		3,086
Total net revenue	11,389		2,912		909		21		15,231
Provision for credit losses	3,411		519		138		—		4,068
Non-interest expense	5,501		1,998		498		467		8,464
Income (loss) from continuing operations before income taxes	2,477		395		273		(446)		2,699
Income tax provision (benefit)	608		97		67		(254)		518
Income (loss) from continuing operations, net of tax	$	1,869	$	298	$	206	$	(192)	$	2,181

	Three Months Ended June 30, 2025										Six Months Ended June 30, 2025
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(9)		Other(9)		Total		Credit Card		Consumer Banking		Commercial Banking(9)		Other(9)		Total
Net interest income (loss)	$	7,293	$	2,162	$	602	$	(62)	$	9,995	$	12,947	$	4,105	$	1,174	$	(218)	$	18,008
Non-interest income (loss)	1,802		394		335		(34)		2,497		3,313		577		647		(53)		4,484
Total net revenue (loss)	9,095		2,556		937		(96)		12,492		16,260		4,682		1,821		(271)		22,492
Provision (benefit) for credit losses	11,098		252		81		(1)		11,430		13,024		553		223		(1)		13,799
Non-interest expense	4,447		1,713		489		342		6,991		8,085		3,294		975		539		12,893
Income (loss) from continuing operations before income taxes	(6,450)		591		367		(437)		(5,929)		(4,849)		835		623		(809)		(4,200)
Income tax provision (benefit)	(1,533)		141		87		(361)		(1,666)		(1,151)		199		148		(537)		(1,341)
Income (loss) from continuing operations, net of tax	$	(4,917)	$	450	$	280	$	(76)	$	(4,263)	$	(3,698)	$	636	$	475	$	(272)	$	(2,859)

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 10: Financial & Statistical Summary—Credit Card Business(3)


																2026 Q2 vs.				Six Months Ended June 30,
	2026			2026			2025			2025			2025			2026		2025								2026 vs.
(Dollars in millions, except as noted)	Q2			Q1			Q4			Q3			Q2			Q1		Q2		2026			2025			2025
Credit Card
Earnings:
Net interest income	$	9,252		$	9,236		$	9,479		$	9,396		$	7,293		—%		27%		$	18,488		$	12,947		43%
Non-interest income	2,513			2,153			2,214			2,211			1,802			17		39		4,666			3,313			41
Total net revenue	11,765			11,389			11,693			11,607			9,095			3		29		23,154			16,260			42
Provision for credit losses	2,474			3,411			3,678			2,364			11,098			(27)		(78)		5,885			13,024			(55)
Non-interest expense(10)	6,098			5,501			6,147			5,409			4,447			11		37%		11,599			8,085			43%
Income (loss) from continuing operations before income taxes	3,193			2,477			1,868			3,834			(6,450)			29		**		5,670			(4,849)			**
Income tax provision (benefit)	782			608			445			914			(1,533)			29		**		1,390			(1,151)			**
Income (loss) from continuing operations, net of tax	$	2,411		$	1,869		$	1,423		$	2,920		$	(4,917)		29%		**		$	4,280		$	(3,698)		**
Selected performance metrics:
Period-end loans held for investment	$	275,408		$	270,558		$	279,570		$	271,037		$	269,709		2%		2%		$	275,408		$	269,709		2%
Average loans held for investment	271,197			270,974			272,228			269,175			209,693			—		29		271,086			183,198			48
Average yield on loans outstanding(1)	17.21		%	17.17		%	17.71		%	17.99		%	17.94		%	4	bps	(73)	bps	17.19		%	18.18		%	(99)	bps
Total net revenue margin(12)	17.35			16.81			17.18			17.25			17.35			54		—		17.08			17.75			(67)
Net charge-off rate(4)	4.71			5.05			4.91			4.61			5.20			(34)		(49)		4.88			5.60			(72)
30+ day performing delinquency rate	3.37			3.66			3.93			3.84			3.55			(29)		(18)		3.37			3.55			(18)
30+ day delinquency rate	3.37			3.67			3.94			3.84			3.56			(30)		(19)		3.37			3.56			(19)
Nonperforming loan rate(6)	0.01			0.01			0.01			0.01			0.01			—		—		0.01			0.01			—
Purchase volume(11)	$	253,750		$	220,540		$	238,687		$	230,379		$	201,453		15%		26%		$	474,290		$	359,401		32%


																2026 Q2 vs.				Six Months Ended June 30,
	2026			2026			2025			2025			2025			2026		2025								2026 vs.
(Dollars in millions, except as noted)	Q2			Q1			Q4			Q3			Q2			Q1		Q2		2026			2025			2025
Domestic Card
Earnings:
Net interest income	$	8,643		$	8,618		$	8,854		$	8,766		$	6,822		—	%	27	%	$	17,261		$	12,165		42%
Non-interest income	2,460			2,107			2,168			2,160			1,749			17		41		4,567			3,209			42
Total net revenue	11,103			10,725			11,022			10,926			8,571			4		30		21,828			15,374			42
Provision for credit losses	2,292			3,236			3,482			2,163			10,200			(29)		(78)		5,528			12,056			(54)
Non-interest expense	5,771			5,179			5,789			5,092			4,192			11		38	%	10,950			7,614			44%
Income (loss) from continuing operations before income taxes	3,040			2,310			1,751			3,671			(5,821)			32		**		5,350			(4,296)			**
Income tax provision (benefit)	745			566			417			873			(1,385)			32		**		1,311			(1,022)			**
Income (loss) from continuing operations, net of tax	$	2,295		$	1,744		$	1,334		$	2,798		$	(4,436)		32	%	**		$	4,039		$	(3,274)		**
Selected performance metrics:
Period-end loans held for investment	$	259,005		$	254,028		$	262,403		$	253,951		$	252,481		2	%	3	%	$	259,005		$	252,481		3%
Average loans held for investment	254,625			254,036			255,221			252,090			197,808			—		29		254,332			173,858			46
Average yield on loans outstanding(1)	17.16		%	17.13		%	17.68		%	17.99		%	17.88		%	3	bps	(72)	bps	17.15		%	18.10		%	(95)	bps
Total net revenue margin(12)	17.44			16.89			17.28			17.34			17.33			55		11		17.16			17.69			(53)
Net charge-off rate(5)	4.71			5.10			4.93			4.63			5.25			(39)		(54)		4.91			5.65			(74)
30+ day performing delinquency rate	3.39			3.70			3.99			3.89			3.60			(31)		(21)		3.39			3.60			(21)
Purchase volume(11)	$	249,195		$	216,513		$	234,375		$	226,147		$	197,308		15	%	26	%	$	465,708		$	351,699		32%
Refreshed FICO scores:(13)
Greater than 660	74		%	73		%	73		%	73		%	73		%	1		1		74		%	73		%	1
660 or below	26			27			27			27			27			(1)		(1)		26			27			(1)
Total	100		%	100		%	100		%	100		%	100		%					100		%	100		%

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 11: Financial & Statistical Summary—Consumer Banking Business


																2026 Q2 vs.				Six Months Ended June 30,
	2026			2026			2025			2025			2025			2026		2025								2026 vs.
(Dollars in millions, except as noted)	Q2			Q1			Q4			Q3			Q2			Q1		Q2		2026			2025			2025
Consumer Banking
Earnings:
Net interest income	$	2,431		$	2,229		$	2,296		$	2,357		$	2,162		9	%	12	%	$	4,660		$	4,105		14%
Non-interest income	778			683			623			475			394			14		97		1,461			577			153
Total net revenue	3,209			2,912			2,919			2,832			2,556			10		26		6,121			4,682			31
Provision for credit losses	444			519			409			340			252			(14)		76		963			553			74
Non-interest expense	2,121			1,998			2,289			1,941			1,713			6		24		4,119			3,294			25
Income from continuing operations before income taxes	644			395			221			551			591			63		9		1,039			835			24
Income tax provision	158			97			52			131			141			63		12		255			199			28
Income from continuing operations, net of tax	$	486		$	298		$	169		$	420		$	450		63	%	8	%	$	784		$	636		23%
Selected performance metrics:
Period-end loans held for investment	$	90,467		$	86,873		$	84,790		$	83,230		$	81,233		4	%	11	%	$	90,467		$	81,233		11%
Average loans held for investment	88,583			85,701			83,957			82,295			80,095			3		11		87,150			79,292			10
Average yield on loans held for investment(1)	9.57		%	9.43		%	9.59		%	9.52		%	9.30		%	14	bps	27bps		9.50		%	9.17		%	33bps
Auto loan originations	$	12,916		$	11,130		$	10,194		$	10,731		$	10,861		16	%	19	%	$	24,046		$	20,071		20%
Period-end deposits	435,221			438,034			423,932			416,765			414,044			(1)		5		435,221			414,044			5
Average deposits	435,890			428,391			418,673			414,219			365,359			2		19		432,161			342,780			26
Average deposits interest rate	2.76		%	2.84		%	2.98		%	3.07		%	3.02		%	(8)	bps	(26)	bps	2.80		%	3.01		%	(21)bps
Net charge-off rate	1.48			1.70			1.88			1.58			1.30			(22)		18		1.59			1.45			14
30+ day performing delinquency rate	4.28			4.17			5.17			4.93			4.78			11		(50)		4.28			4.78			(50)
30+ day delinquency rate	4.76			4.59			5.73			5.53			5.40			17		(64)		4.76			5.40			(64)
Nonperforming loan rate(6)	0.62			0.57			0.69			0.73			0.74			5		(12)		0.62			0.74			(12)
Nonperforming asset rate(7)	0.72			0.66			0.79			0.82			0.82			6		(10)		0.72			0.82			(10)
Global Payment Network volume	$	189,612		$	174,332		$	174,644		$	153,117		$	74,014		9	%	156	%	$	363,944		$	74,014		**
Auto—At origination FICO scores:(14)
Greater than 660	49		%	50		%	51		%	51		%	52		%	(1)		(3)		49		%	52		%	(3)
621 - 660	19			19			19			19			19			—		—		19			19			—
620 or below	32			31			30			30			29			1		3		32			29			3
Total	100		%	100		%	100		%	100		%	100		%					100		%	100		%

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 12: Financial & Statistical Summary—Commercial Banking Business


																2026 Q2 vs.		Six Months Ended June 30,
	2026			2026			2025			2025			2025			2026	2025							2026 vs.
(Dollars in millions, except as noted)	Q2			Q1			Q4			Q3			Q2			Q1	Q2	2026			2025			2025
Commercial Banking
Earnings:
Net interest income	$	585		$	581		$	574		$	586		$	602		1%	(3)%	$	1,166		$	1,174		(1)%
Non-interest income	265			328			356			318			335			(19)	(21)	593			647			(8)
Total net revenue(9)	850			909			930			904			937			(6)	(9)	1,759			1,821			(3)
Provision for credit losses	71			138			55			9			81			(49)	(12)	209			223			(6)
Non-interest expense	462			498			504			520			489			(7)	(6)	960			975			(2)
Income from continuing operations before income taxes	317			273			371			375			367			16	(14)	590			623			(5)
Income tax provision	78			67			89			89			87			16	(10)	145			148			(2)
Income from continuing operations, net of tax	$	239		$	206		$	282		$	286		$	280		16%	(15)%	$	445		$	475		(6)%
Selected performance metrics:
Period-end loans held for investment	$	91,293		$	90,323		$	89,262		$	88,892		$	88,355		1%	3%	$	91,293		$	88,355		3%
Average loans held for investment	90,899			89,560			88,495			88,389			88,369			1	3	90,233			87,935			3
Average yield on loans held for investment(1)(9)	5.75		%	5.68		%	6.08		%	6.42		%	6.40		%	7bps	(65)bps	5.71		%	6.35		%	(64)bps
Period-end deposits	$	30,841		$	31,007		$	31,250		$	29,920		$	29,245		(1)%	5%	$	30,841		$	29,245		5%
Average deposits	31,248			31,137			31,462			29,889			30,444			—	3	31,193			31,045			—
Average deposits interest rate	1.81		%	1.83		%	1.96		%	2.13		%	2.06		%	(2)bps	(25)bps	1.82		%	2.09		%	(27)bps
Net charge-off rate	0.53			0.29			0.43			0.21			0.33			24	20	0.41			0.22			19
Nonperforming loan rate(6)	1.32			1.40			1.36			1.39			1.30			(8)	2	1.32			1.30			2
Nonperforming asset rate(7)	1.39			1.47			1.39			1.40			1.30			(8)	9	1.39			1.30			9
Risk category:(15)
Noncriticized	$	86,034		$	84,545		$	83,873		$	83,098		$	82,000		2%	5%	$	86,034		$	82,000		5%
Criticized performing	4,058			4,510			4,177			4,558			5,204			(10)	(22)	4,058			5,204			(22)
Criticized nonperforming	1,201			1,268			1,212			1,236			1,151			(5)	4	1,201			1,151			4
Total commercial banking loans held for investment	$	91,293		$	90,323		$	89,262		$	88,892		$	88,355		1%	3%	$	91,293		$	88,355		3%
Risk category as a percentage of period-end loans held for investment:(15)
Noncriticized	94.24		%	93.61		%	93.96		%	93.48		%	92.81		%	63bps	143bps	94.24		%	92.81		%	143bps
Criticized performing	4.44			4.99			4.68			5.13			5.89			(55)	(145)	4.44			5.89			(145)
Criticized nonperforming	1.32			1.40			1.36			1.39			1.30			(8)	2	1.32			1.30			2
Total commercial banking loans	100.00		%	100.00		%	100.00		%	100.00		%	100.00		%			100.00		%	100.00		%

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 13: Financial & Statistical Summary—Other and Total


											2026 Q2 vs.		Six Months Ended June 30,
	2026		2026		2025		2025		2025		2026	2025					2026 vs.
(Dollars in millions)	Q2		Q1		Q4		Q3		Q2		Q1	Q2	2026		2025		2025
Other
Earnings:
Net interest income (loss)	$	106	$	99	$	117	$	65	$	(62)	7%	**	$	205	$	(218)	**
Non-interest loss	(80)		(78)		(76)		(49)		(34)		3	135%	(158)		(53)		198%
Total net revenue (loss)(9)	26		21		41		16		(96)		24	**	47		(271)		**
Provision (benefit) for credit losses	—		—		—		1		(1)		**	**	—		(1)		**
Non-interest expense(16)	362		467		402		393		342		(22)	6	829		539		54
Loss from continuing operations before income taxes	(336)		(446)		(361)		(378)		(437)		(25)	(23)	(782)		(809)		(3)
Income tax provision (benefit)	(220)		(254)		(241)		55		(361)		(13)	(39)	(474)		(537)		(12)
Loss from continuing operations, net of tax	$	(116)	$	(192)	$	(120)	$	(433)	$	(76)	(40)%	53%	$	(308)	$	(272)	13%
Selected performance metrics:
Period-end deposits	$	18,195	$	20,012	$	20,589	$	22,100	$	24,821	(9)%	(27)%	$	18,195	$	24,821	(27)%
Average deposits	19,653		20,430		20,830		23,172		18,765		(4)	5	20,039		15,637		28
Total
Earnings:
Net interest income	$	12,374	$	12,145	$	12,466	$	12,404	$	9,995	2%	24%	$	24,519	$	18,008	36%
Non-interest income	3,476		3,086		3,117		2,955		2,497		13	39	6,562		4,484		46
Total net revenue	15,850		15,231		15,583		15,359		12,492		4	27	31,081		22,492		38
Provision for credit losses	2,989		4,068		4,142		2,714		11,430		(27)	(74)	7,057		13,799		(49)
Non-interest expense	9,043		8,464		9,342		8,263		6,991		7	29%	17,507		12,893		36%
Income (loss) from continuing operations before income taxes	3,818		2,699		2,099		4,382		(5,929)		41	**	6,517		(4,200)		**
Income tax provision (benefit)	798		518		345		1,189		(1,666)		54	**	1,316		(1,341)		**
Income (loss) from continuing operations, net of tax	$	3,020	$	2,181	$	1,754	$	3,193	$	(4,263)	38%	**	$	5,201	$	(2,859)	**
Selected performance metrics:
Period-end loans held for investment	$	457,168	$	447,754	$	453,622	$	443,159	$	439,297	2%	4%	$	457,168	$	439,297	4%
Average loans held for investment	450,679		446,235		444,680		439,859		378,157		1	19	448,469		350,425		28
Period-end deposits	484,257		489,053		475,771		468,785		468,110		(1)	3	484,257		468,110		3
Average deposits	486,791		479,958		470,965		467,280		414,568		1	17	483,393		389,462		24

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 14: Notes to Net Interest Margin, Loan, Allowance and Business Segment Disclosures (Tables 6—13)

(1)Average yield is calculated based on annualized interest income for the period divided by average loans during the period. Average yield is calculated using whole dollar values for average balances and interest income/expense. Accordingly, total interest earning assets less total interest bearing liabilities may not total net interest income/spread.

(2)Includes amounts related to entities that provide capital to low-income and rural communities of $2.4 billion in Q2 2026, $2.2 billion in both Q1 2026 and Q2 2025, $2.3 billion for the first six months of 2026 and $2.1 billion for the first six months of 2025. Related interest expense was $9 million in Q2 2026, $8 million in both Q1 2026 and Q2 2025, $17 million for the first six months of 2026 and $15 million for the first six months of 2025.

(3)Effective in the second quarter of 2026, Domestic Card results include Brex and our legacy corporate card product.

(4)Charge-offs exclude $19.4 billion of Discover loans acquired in the second quarter of 2025 that were fully charged-off, with expected recoveries of $3.3 billion included as a benefit to the allowance for credit losses.

(5)Charge-offs exclude $18.0 billion of Discover domestic credit card loans acquired in the second quarter of 2025 that are fully charged-off, with expected recoveries of $3.1 billion included as a benefit to the allowance for credit losses.

(6)Nonperforming loan rates are calculated based on nonperforming loans for each category divided by period-end total loans held for investment for each respective category. For Commercial Banking, loans categorized as nonperforming are considered criticized nonperforming.

(7)Nonperforming assets consist of nonperforming loans, repossessed assets and other foreclosed assets. The total nonperforming asset rate is calculated based on total nonperforming assets divided by the combined period-end total loans held for investment, repossessed assets and other foreclosed assets.

(8)Primarily represents foreign currency translation adjustments.

(9)Some of our commercial investments generate tax-exempt income, tax credits or other tax benefits. Accordingly, we present our Commercial Banking revenue and yields on a taxable-equivalent basis, calculated using a blended federal and state statutory tax rate, with offsetting reductions to the Other category.

(10)Includes the impact of $96 million in Brex integration expenses in Q2 2026.

(11)Purchase volume consists of purchase transactions, net of returns, for the period, and excludes cash advance and balance transfer transactions.

(12)Total net revenue margin is calculated based on annualized total net revenue for the period divided by average interest-earning assets for the period.

(13)Percentages represent period-end loans held for investment in each credit score category. Domestic Card credit scores generally represent FICO scores. These scores are obtained from one of the major credit bureaus at origination and are refreshed monthly thereafter. We approximate non-FICO credit scores to comparable FICO scores for consistency purposes. Balances for which no credit score is available or the credit score is invalid are included in the 660 or below category. Corporate cards do not have FICO scores associated with such loans and therefore are excluded.

(14)Percentages represent period-end loans held for investment in each credit score category. Auto credit scores generally represent average FICO scores obtained from three credit bureaus at the time of application and are not refreshed thereafter. Balances for which no credit score is available or the credit score is invalid are included in the 620 or below category.

(15)Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by bank regulatory authorities.

(16)Includes the impact of $298 million, $415 million, $352 million, $348 million and $299 million in Discover integration expenses in Q2 2026, Q1 2026, Q4 2025, Q3 2025 and Q2 2025, respectively, as well as any charges incurred as a result of other restructuring activities for the periods presented.

** Not meaningful.

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures(1)


	Basel III Standardized Approach
(Dollars in millions, except as noted)	June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025		June 30, 2025
Regulatory Capital Metrics
Common equity excluding AOCI	$	114,686	$	112,733	$	113,677	$	114,323	$	112,368
Adjustments:
AOCI, net of tax(2)	62		69		81		68		83
Goodwill, net of related deferred tax liabilities	(31,559)		(28,201)		(28,217)		(28,575)		(28,052)
Other Intangible and deferred tax assets, net of deferred tax liabilities	(12,413)		(12,142)		(12,493)		(12,846)		(13,687)
Common equity Tier 1 capital	$	70,776	$	72,459	$	73,048	$	72,970	$	70,712
Tier 1 capital	$	76,183	$	77,866	$	78,455	$	78,377	$	76,118
Total capital(3)	85,770		87,326		88,000		87,853		85,988
Risk-weighted assets	516,267		504,654		511,794		506,535		503,413
Adjusted average assets(4)	643,349		640,503		629,997		622,435		537,581
Capital Ratios
Common equity Tier 1 capital(5)	13.7%		14.4%		14.3%		14.4%		14.0%
Tier 1 capital(6)	14.8		15.4		15.3		15.5		15.1
Total capital(7)	16.6		17.3		17.2		17.3		17.1
Tier 1 leverage(4)	11.8		12.2		12.5		12.6		14.2
TCE(8)	10.2		10.3		10.7		10.8		10.3

Reconciliation of Non-GAAP Measures

The following non-GAAP measures consist of our adjusted results that we believe help investors and users of our financial information understand the effect of adjusting items on our selected reported results, however, they may not be comparable to similarly-titled measures reported by other companies. These adjusted results provide alternate measurements of our operating performance, both for the current period and trends across multiple periods. The following tables present reconciliations of these non-GAAP measures to the applicable amounts measured in accordance with GAAP.


	2026		2026		2025		2025		2025		Six Months Ended June 30,
(Dollars in millions, except per share data and as noted)	Q2		Q1		Q4		Q3		Q2		2026		2025
Adjusted diluted earnings per share (“EPS”):
Net income (loss) available to common stockholders (GAAP)	$	2,935	$	2,081	$	2,057	$	3,086	$	(4,340)	$	5,016	$	(2,998)
Acquisition amortization expenses(9)	494		477		546		603		340		971		340
Discover integration expenses	298		415		352		348		299		713		409
Brex integration expenses	96		—		—		—		—		96		—
Initial allowance build for Discover non-PCD loans	—		—		—		—		8,767		—		8,767
Legal reserve activities	—		—		117		—		41		—		239
Gain on sale of home loan portfolio	—		—		(483)		—		—		—		—
FDIC special assessment	—		—		(29)		—		—		—		—
Adjusted net income available to common stockholders before income tax impacts (non-GAAP)	3,823		2,973		2,560		4,037		5,107		6,796		6,757
Income tax impacts	(219)		(221)		(124)		(236)		(2,339)		(440)		(2,415)

Adjusted net income available to common stockholders (non-GAAP)	$	3,604	$	2,752	$	2,436	$	3,801	$	2,768	$	6,356	$	4,342

Diluted weighted-average common shares outstanding (in millions) (GAAP)	621.1		623.4		631.6		639.5		505.6		622.3		444.7

Diluted EPS (GAAP)	$	4.73	$	3.34	$	3.26	$	4.83	$	(8.58)	$	8.07	$	(6.74)
Impact of adjustments noted above	1.08		1.08		0.60		1.12		14.06		2.14		16.50
Adjusted diluted EPS (non-GAAP)	$	5.81	$	4.42	$	3.86	$	5.95	$	5.48	$	10.21	$	9.76

Adjusted efficiency ratio:
Non-interest expense (GAAP)	$	9,043	$	8,464	$	9,342	$	8,263	$	6,991	$	17,507	$	12,893
Acquisition amortization expenses(9)	(518)		(478)		(509)		(498)		(255)		(996)		(255)
Discover integration expenses	(298)		(415)		(352)		(348)		(299)		(713)		(409)
Brex integration expenses	(96)		—		—		—		—		(96)		—
Legal reserve activities	—		—		(117)		—		(41)		—		(239)
FDIC special assessment	—		—		29		—		—		—		—
Adjusted non-interest expense (non-GAAP)	$	8,131	$	7,571	$	8,393	$	7,417	$	6,396	$	15,702	$	11,990

Total net revenue (GAAP)	$	15,850	$	15,231	$	15,583	$	15,359	$	12,492	$	31,081	$	22,492
Acquisition amortization expenses(9)	(24)		(1)		37		105		85		(25)		85
Adjusted net revenue (non-GAAP)	$	15,826	$	15,230	$	15,620	$	15,464	$	12,577	$	31,056	$	22,577


	2026			2026			2025			2025			2025			Six Months Ended June 30,
(Dollars in millions, except per share data and as noted)	Q2			Q1			Q4			Q3			Q2			2026			2025
Efficiency ratio (GAAP)	57.05%			55.57%			59.95%			53.80		%	55.96		%	56.33%			57.32%
Impact of adjustments noted above	(567)		bps	(586)		bps	(622)		bps	(584)		bps	(511)		bps	(577)		bps	(421)		bps
Adjusted efficiency ratio (non-GAAP)	51.38%			49.71%			53.73%			47.96		%	50.85		%	50.56%			53.11%

Adjusted operating efficiency ratio:
Operating expense (GAAP)	$	7,382		$	6,967		$	7,408		$	6,860		$	5,646		$	14,349		$	10,346
Acquisition amortization expenses(9)	(518)			(478)			(509)			(498)			(255)			(996)			(255)
Discover integration expenses	(298)			(415)			(352)			(348)			(299)			(713)			(409)
Brex integration expenses	(96)			—			—			—			—			(96)			—
Legal reserve activities	—			—			(117)			—			(41)			—			(239)
FDIC special assessment	—			—			29			—			—			—			—
Adjusted operating expense (non-GAAP)	$	6,470		$	6,074		$	6,459		$	6,014		$	5,051		$	12,544		$	9,443

Total net revenue (GAAP)	$	15,850		$	15,231		$	15,583		$	15,359		$	12,492		$	31,081		$	22,492
Acquisition amortization expenses(9)	(24)			(1)			37			105			85			(25)			85
Adjusted net revenue (non-GAAP)	$	15,826		$	15,230		$	15,620		$	15,464		$	12,577		$	31,056		$	22,577

Operating efficiency ratio (GAAP)	46.57%			45.74%			47.54%			44.66		%	45.20		%	46.17%			46.00%
Impact of adjustments noted above	(569)		bps	(586)		bps	(619)		bps	(577)		bps	(504)		bps	(578)		bps	(417)		bps
Adjusted operating efficiency ratio (non-GAAP)	40.88%			39.88%			41.35%			38.89		%	40.16		%	40.39%			41.83%

Reconciliation of Non-GAAP Measures

The following summarizes our non-GAAP measures. While these non-GAAP measures are widely used by investors, analysts and bank regulatory agencies to assess the operating performance and capital position of financial services companies, they may not be comparable to similarly-titled measures reported by other companies. The following table presents reconciliations of these non-GAAP measures to the applicable amounts measured in accordance with GAAP.


	2026			2026			2025			2025			2025
(Dollars in millions)	Q2			Q1			Q4			Q3			Q2
Pre- provision earnings
Total net revenue	$	15,850		$	15,231		$	15,583		$	15,359		$	12,492
Non-interest expense	(9,043)			(8,464)			(9,342)			(8,263)			(6,991)
Pre-provision earnings(10)(11)	$	6,807		$	6,767		$	6,241		$	7,096		$	5,501
Tangible common equity (period-end)
Stockholders’ equity	$	113,793		$	112,261		$	113,616		$	113,813		$	110,956
Goodwill and other intangible assets(12)	(43,840)			(40,489)			(40,876)			(41,537)			(42,012)
Noncumulative perpetual preferred stock	(5,407)			(5,407)			(5,407)			(5,407)			(5,407)
Tangible common equity(13)	$	64,546		$	66,365		$	67,333		$	66,869		$	63,537
Tangible common equity (average)
Stockholders’ equity	$	114,518		$	114,556		$	115,404		$	112,819		$	86,918
Goodwill and other intangible assets(12)	(44,033)			(40,709)			(41,144)			(41,815)			(29,114)
Noncumulative perpetual preferred stock	(5,407)			(5,407)			(5,407)			(5,407)			(5,355)
Tangible common equity(13)	$	65,078		$	68,440		$	68,853		$	65,597		$	52,449
Return on tangible common equity (average)
Net income (loss) available to common stockholders	$	2,935		$	2,081		$	2,057		$	3,086		$	(4,340)
Income (loss) from discontinued operations, net of tax	—			(7)			380			(1)			(14)
Net income (loss) available to common stockholders less income (loss) from discontinued operations, net of tax	$	2,935		$	2,088		$	1,677		$	3,087		$	(4,326)
Tangible common equity (average)	65,078			68,440			68,853			65,597			52,449
Return on tangible common equity(13)	18.04		%	12.20		%	9.74		%	18.82		%	(32.99)		%
Tangible assets (period-end)
Total assets	$	673,835		$	682,905		$	669,009		$	661,877		$	658,968
Goodwill and other intangible assets(12)	(43,840)			(40,489)			(40,876)			(41,537)			(42,012)
Tangible assets(13)	$	629,995		$	642,416		$	628,133		$	620,340		$	616,956


	2026		2026		2025		2025		2025
(Dollars in millions)	Q2		Q1		Q4		Q3		Q2






















Tangible assets (average)
Total assets	$	682,079	$	675,999	$	665,656	$	657,858	$	572,446
Goodwill and other intangible assets(12)	(44,033)		(40,709)		(41,144)		(41,815)		(29,114)
Tangible assets(13)	$	638,046	$	635,290	$	624,512	$	616,043	$	543,332
Return on tangible assets (average)
Net income (loss)	$	3,020	$	2,174	$	2,134	$	3,192	$	(4,277)
Income (loss) from discontinued operations, net of tax	—		(7)		380		(1)		(14)
Net income (loss) less income (loss) from discontinued operations, net of tax	$	3,020	$	2,181	$	1,754	$	3,193	$	(4,263)
Tangible assets (average)	638,046		635,290		624,512		616,043		543,332
Return on tangible assets(13)	1.89%		1.37%		1.12%		2.07%		(3.14)%
TCE ratio
Tangible common equity (period-end)	$	64,546	$	66,365	$	67,333	$	66,869	$	63,537
Tangible assets (period-end)	629,995		642,416		628,133		620,340		616,956
TCE ratio(13)	10.2%		10.3%		10.7%		10.8%		10.3%
Tangible book value per common share
Tangible common equity (period-end)	$	64,546	$	66,365	$	67,333	$	66,869	$	63,537
Outstanding common shares	613.5		615.9		625.1		635.7		639.5
Tangible book value per common share(13)	$	105.21	$	107.76	$	107.72	$	105.18	$	99.35

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 16: Notes to Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures (Table 15)

(1)Regulatory capital metrics and capital ratios as of June 30, 2026 are preliminary and therefore subject to change.

(2)Excludes certain components of AOCI in accordance with rules applicable to Category III institutions.

(3)Total capital equals the sum of Tier 1 capital and Tier 2 capital.

(4)Adjusted average assets for the purpose of calculating our Tier 1 leverage ratio represents total average assets adjusted for amounts that are deducted from Tier 1 capital, predominately goodwill and intangible assets. Tier 1 leverage ratio is a regulatory capital measure calculated based on Tier 1 capital divided by adjusted average assets.

(5)Common equity Tier 1 capital ratio is a regulatory capital measure calculated based on common equity Tier 1 capital divided by risk-weighted assets.

(6)Tier 1 capital ratio is a regulatory capital measure calculated based on Tier 1 capital divided by risk-weighted assets.

(7)Total capital ratio is a regulatory capital measure calculated based on total capital divided by risk-weighted assets.

(8)TCE ratio is a Non-GAAP measure calculated based on TCE divided by tangible assets.

(9)Includes purchase accounting-related amortization for acquisitions where integration expenses were also adjusted.

(10)Management believes that this financial metric is useful in assessing the ability of a lending institution to generate income in excess of its provision for credit losses.

(11)Adjusted pre-provision earnings is a non-GAAP metric calculated based on adjusted net revenue less non-interest expense for the period.

(12)Includes impact of related deferred taxes.

(13)Management believes that this financial metric is useful when assessing returns and capital management over time.