The Board of Directors of U.S. Bancorp (NYSE:USB) has declared a regular quarterly dividend of $0.52 per common share, payable October 15, 2025, to stockholders of record at the close of business on September 30, 2025. This is a 4 percent increase over the previous quarter. At this quarterly dividend rate, the annual dividend is equivalent to $2.08 per common share.

The Board of Directors also declared the following:

A regular quarterly dividend of $1,430.896 per share (equivalent to $14.308960 per depositary share) on the Series A Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable October 15, 2025, to stockholders of record at the close of business on September 30, 2025.

A regular quarterly dividend of $330.891 per share (equivalent to $0.330891 per depositary share) on the Series B Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable October 15, 2025, to stockholders of record at the close of business on September 30, 2025.

A regular semi-annual dividend of $662.500 per share (equivalent to $26.500000 per depositary share) on the Series J Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable October 15, 2025, to stockholders of record at the close of business on September 30, 2025.

A regular quarterly dividend of $343.750 per share (equivalent to $0.343750 per depositary share) on the Series K Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable October 15, 2025, to stockholders of record at the close of business on September 30, 2025.

A regular quarterly dividend of $234.375 per share (equivalent to $0.234375 per depositary share) on the Series L Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable October 15, 2025, to stockholders of record at the close of business on September 30, 2025.

A regular quarterly dividend of $250.000 per share (equivalent to $0.250000 per depositary share) on the Series M Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable October 15, 2025, to stockholders of record at the close of business on September 30, 2025.

A regular quarterly dividend of $231.250 per share (equivalent to $9.250000 per depositary share) on the Series N Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable October 15, 2025, to stockholders of record at the close of business on September 30, 2025.

A regular quarterly dividend of $281.250 per share (equivalent to $0.281250 per depositary share) on the Series O Non-Cumulative Perpetual Preferred Stock of U.S. Bancorp, payable October 15, 2025, to stockholders of record at the close of business on September 30, 2025.

About U.S. Bancorp

U.S. Bancorp, with approximately 70,000 employees and $686 billion in assets as of June 30, 2025, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2025 World's Most Ethical Companies and one of Fortune's most admired superregional banks. Learn more at usbank.com/about.

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Investor contact: George Andersen, Director of Investor Relations, U.S. Bancorp Investor Relations

george.andersen@usbank.com

Media contact: Jeff Shelman, U.S. Bancorp Public Affairs and Communications

jeffrey.shelman@usbank.com