U.S. Bancorp today announced the redemption on June 15, 2022, of all its outstanding 2.95% Medium-Term Notes, Series U (Subordinated), due July 15, 2022 (CUSIP No. 91159JAA4). The redemption price for the Medium-Term Notes will be equal to 100% of the principal amount of the Notes, plus any accrued and unpaid interest to, but excluding, the redemption date of June 15, 2022.

Payment of the redemption price for the Medium-Term Notes will be made through the facilities of The Depository Trust Company.

About U.S. Bancorp

U.S. Bancorp, with approximately 70,000 employees and $587 billion in assets as of March 31, 2022, is the parent company of U.S. Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diversified mix of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services. The company has been recognized for its approach to digital innovation, social responsibility, and customer service, including being named one of the 2022 World’s Most Ethical Companies and Fortune’s most admired superregional bank. Learn more at usbank.com/about.

Investor contact: Jennifer Thompson, U.S. Bancorp Investor Relations jen.thompson@usbank.com, 612.303.0778, @usbank_news

Media contact: Jeff Shelman, U.S. Bancorp Public Affairs and Communications jeffrey.shelman@usbank.com, 612.303.9933, @usbank_news

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