Triumph Financial Announces 5% Workforce Reduction, Expects To Incur Aggregate Charges Of ~$4.5M; Expected To Result In $18M-$20M Annual Cost Savings Initiative

On August 20, 2025, Triumph Financial, Inc. (the "Company") implemented a reduction in force expected to involve approximately 5% of the Company's workforce. In connection with the reduction in force and related cost saving initiatives described below, the Company expects to incur aggregate charges of approximately $4.5 million, substantially all of which is expected to be incurred in the third quarter of 2025. The charges are expected to consist primarily of one-time termination charges arising from severance obligations and other customary employee benefit payments in connection with a reduction in force.

The reduction in force, along with other cost saving initiatives being undertaken by the Company, including non-headcount related reductions in facilities, legacy technology, vendor spend and travel, are expected to result in approximately $18 to $20 million of annualized run-rate cash savings. Approximately 80% of these annualized run-rate savings are expected to be realized commencing in the fourth quarter of 2025, with the remainder commencing in the first half of 2026.

This action is part of the Company's initiatives to re-balance its cost structure in light of technology investments that have delivered significant efficiencies across the organization. These advancements have reduced the need for certain roles and prompted a reorganization of teams and responsibilities to better serve the Company's transportation verticals. The Company believes these actions will strengthen its competitive position, enhance operational agility, and support sustainable long-term growth.