American Express to sell ~30% stake in Global Business Travel Group for ~$1.5B, expects $975M pre-tax gain

AMERICAN EXPRESS CO

Will sell ~30% equity interest in GBTG upon closing of Long Lake/General Catalyst acquisition; proceeds ~$1.5B.
Pre-tax gain of ~$975M not included in FY 2026 earnings guidance; portion to be invested and returned to shareholders.
Brand licensing and commercial agreements with GBTG unchanged; commitment to serving customers continues.
Transaction does not affect AXP's capital allocation strategy; expects to return a portion to shareholders.

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