On November 29, 2023, Thomas A. James, a director and Chairman Emeritus of the Board of Directors of Raymond James Financial, Inc., and a member of its Capital Planning Committee, informed the Company that, after 48 years of Board service, he will not stand for re-election to the Board at the Company?s 2024 Annual Shareholders Meeting (the ?Annual Meeting?) and that he will retire from service as a director at the conclusion of the Annual Meeting scheduled for February 22, 2024. Mr. James will continue to serve as a director until the end of the Annual Meeting. Mr. James has served as a member of the Board since 1974.

Mr. James? plan to retire is not due to any disagreement with the Company on any matter relating to the Company?s operations, policies or practices.