American Express Launches New Graphite™ Business Cash Unlimited Card, Kicking Off the Most Significant Year for Commercial Product Expansion in Company History

Business Membership Expands with Eight New Products, Benefits and AI-Powered Capabilities for Businesses of All Sizes to Come in 2026

American Express (NYSE:AXP) today announced the launch of the new Graphite™ Business Cash Unlimited Card, marking the start of a major rollout of integrated solutions for businesses of all sizes. This year, the company plans to release eight new or enhanced products, benefits and capabilities that deliver value, simplify financial operations and improve productivity for businesses. These updates will include new expense management software, a new Corporate Cash Back Card, a new ChatGPT Business statement credit for the U.S. Business Platinum and Business Gold Cards and new AI-powered capabilities. It is the most significant commercial product expansion in one year in recent Amex history, helping businesses do more business.

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Amex 2026 Commercial Product Expansion

"Our expertise is unmatched. Regardless of a business' size or stage of growth, they need trusted partners who deeply understand the complexities of their business. We provide solutions to address their needs that offer rich value and simplify operations so they can focus on running their business and what's next," said Raymond Joabar, Group President of Global Commercial Services at American Express. "Amex Business Membership brings together award-winning service, best-in-class card products, intelligent software and next-generation AI tools — a powerful combination that only Amex can offer."

American Express backs businesses of all sizes. The company is the #1 issuer of small business cards in the U.S. based on spend, 3X larger than the next U.S. small business card issuer ¹ and has over 4.3 million U.S. Small Business customers.² In addition, the majority of the 100 largest public U.S. Companies are American Express Corporate customers.³ Customers can use their Card wherever their business takes them: American Express is accepted at over 170 million merchant locations worldwide.⁴

Building on the company's leadership in serving a broad range of businesses, this new suite of products and services will offer businesses simple ways to earn rewards, advanced spend management tools and platforms that can grow with them. Amex is also introducing new benefits and features that help businesses harness the power of AI to make operations easier to manage.

WHAT'S NEW IN 2026

Delivering value for businesses of all sizes

Following the successful refresh of the Business Platinum Card in 2025 that drove record levels of spending, American Express is offering customers more choice in how they earn rewards and confidence that they're making the most of every dollar spent. The company will introduce two new Card products for business customers, offering simple cash back value:

• NEW American Express Graphite™ Business Cash Unlimited Card: Available starting today, the Card is designed for business leaders who value simplicity but need flexible spend capacity to run their businesses. The Card, which has an Annual Fee of $295, features:
  • Unlimited 2% cash back rewards on all eligible purchases and unlimited 5% cash back on flights and prepaid hotel bookings through American Express Travel^®5
  • No Preset Spending Limit, which means the amount the Card Member can spend adapts based on factors such as their purchase, payment and credit history
  • Pay Over Time, which gives Card Members the option to carry a balance with interest on eligible charges or pay the balance in full each month, offering Card Members payment and cash flow flexibility
  • Card Members can unlock up to $2,400 in Statement Credits for use in the next calendar year on monthly fees for One AP^®, American Express' accounts payable automation platform, after spending $250,000 on eligible purchases in the current calendar year
  • Access to unlimited Virtual Cards
  • A new carbon fiber-inspired metal Card design
  • Full details about the Graphite Business Cash Unlimited Card can be found here
• NEW Corporate Cash Back Card: Beginning this fall, a new Corporate Cash Back Card will expand American Express' Card offerings for companies that need greater control and the ability to do more, all in one place. The Card will provide:
  • A straightforward way to earn cash back, plus service, security and financial tools businesses need
  • Integration with a new expense management platform and statement credits on American Express' accounts payable platform One AP^®
  • Corporate liability plus tailored underwriting to help support different spending capacity needs
  • A new application and onboarding experience to the Amex Corporate program to quickly get started
  • Unlimited Cards for a flat annual fee for simple and transparent pricing

These new Cards will continue to offer American Express Business and Corporate Card Members access to tools and services that can help them manage their business' cash flow, such as Virtual Cards and No Preset Spending Limit. High spending American Express Business Card Members with No Preset Spending Limit spend more than 3X on their American Express Cards than they spend on their cards from competitor issuers.⁶

Simplifying expense management and operations

As businesses grow, their needs become more complex. American Express provides dedicated expert service and spend management software, in addition to leading Corporate Cards, to help businesses simplify operations without losing oversight and reduce friction for their employees. This year, Amex plans to release:

• NEW Expense Management Software: Following American Express' acquisition of Center in 2025, the company will introduce a new platform that combines Card and expense management all in one place so businesses can simplify operations and automate time-consuming processes.
  • The platform will help businesses manage employee expenses, request physical and Virtual Cards, access spending insights and more.
  • It will connect to widely-used accounting, Enterprise Resource Planning (ERP) and HR systems to add or update Card Members and transactions automatically.
  • Early access for select customers will begin this summer, and the platform will be integrated into the new Corporate Cash Back Card program launching in the fall.
• ENHANCED Corporate Onboarding Experience: Starting this spring, companies can apply online to the corporate program in as little as 10 minutes. Applicants will be notified promptly if they're approved, so they can quickly onboard and begin requesting cards, with American Express' award-winning service there to help every step of the way.
• ENHANCED More Places to Create and Manage Virtual Cards: Virtual Cards have adjustable spending limits and unique digital card numbers to help control company expenses with added security. Virtual Cards are widely used by Amex's Corporate customers today, and in 2026, they will be able to create and manage Amex Virtual Cards in even more proprietary and partner software, including Emburse and SAP Concur Solutions.

Benefits and capabilities that harness the power of AI

American Express is a trusted financial partner to business customers and is working to integrate the latest technology into products and services to help them automate processes and operate more efficiently. This will include new AI benefits and capabilities like:

• NEW $300 ChatGPT Business Credit⁷ on U.S. Business Platinum and Business Gold Cards: This spring, Amex will introduce the first-of-its-kind ChatGPT Business statement credit on a card, helping Card Members save time and increase productivity. According to an Amex Trendex survey of small business owners, those who use AI say the technology is saving their business time (87%), reducing time spent on manual processes (81%) and improving employee productivity (73%).⁸
• NEW Insights Agent for Corporate Customers: The agent is designed to help Amex's largest corporate customers to create reports with deep insights and analysis into their spending, leveraging data across cards, expenses, accounts payable and more.
• NEW AI-Powered Expense App for Corporate Card Members: A new Amex expense mobile app will help automate employee expenses: it will prompt employees to upload a photo of a receipt, review it to ensure the purchase was in-policy and submit the expense for approval.

"AI will play a central role in how we deliver better payment and spend management experiences for our business customers, and businesses need financial software that simplifies their financial back office, backed by people who understand their distinct needs," Joabar noted. "The future of Amex Business Membership will be enabled by cutting-edge technology and powered by our exceptional service and customer relationships."

¹ Source: Nilson Report, Issue #1285 from May 2025 for competitor card data, compared with 2024 U.S. small business Card Member spend.

² Customers using a small business product.

³Based on market cap, excluding clients with zero spend in 2025.

⁴ Locations in force (LIF) estimate as of December 2025, which reflects an estimated 37 million merchants that accept American Express in China (including through digital wallets). LIF represents proprietary and partner acquired merchant locations where the merchant is enabled to accept American Express. LIF estimates incorporate data provided to us by certain third parties and include merchants that accept American Express through payment facilitators and digital wallets.

⁵ Cash back is received in the form of Reward Dollars that can be redeemed for a statement credit and at Amazon.com checkout. Purchases eligible for multiple cash back rates will only receive the highest eligible cash back rate.

⁶ Based on analysis of AXP Business Card Members with No Preset Spending Limit and with >$100K in annual spend in 2025. Competitor spend based on benchmarking of external sources

⁷ With this benefit, Card Members can get up to $300 in statement credits per calendar year on U.S. purchases of ChatGPT Business subscriptions (subject to auto-renewal) on the Business Gold and Business Platinum Card. Enrollment is required.

⁸ This online survey was conducted by The Morning Consult LLC on behalf of American Express between December 12 - 16, 2025 among 1,144 decision makers at small businesses (i.e., fewer than 500 employees). The interviews were conducted online. Results from the full survey have a margin of error of plus or minus 3 percentage points.

ABOUT AMERICAN EXPRESS

American Express (NYSE:AXP) is a global payments and premium lifestyle brand powered by technology. Our colleagues around the world back our customers with differentiated products, services, and experiences that enrich lives and build business success.

Founded in 1850 and headquartered in New York, American Express' brand is built on trust, security, service, and a rich history of delivering innovation and Membership value for our customers. We seek to provide the world's best customer experience every day to a broad range of consumers, small and medium-sized businesses, and large corporations, and we build and manage relationships with millions of merchants across our global network.

For more information about American Express, visit americanexpress.com, americanexpress.com/en-us/newsroom/, and ir.americanexpress.com.

Cautionary Note Regarding Forward-Looking Statements

This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. The forward-looking statements, which include American Express' plans for launching new and enhanced products, benefits and capabilities, among other matters, contain words such as "expect," "intend," "plan," "aim," "will," "may," "should," "could," "would," "continue," and similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Actual results may differ from those set forth in the forward-looking statements due to a variety of factors, including those described in American Express' Annual Report on Form 10-K for the year ended December 31, 2025 and its other reports filed with the SEC. American Express undertakes no obligation to update or revise any forward-looking statements.

Location: U.S.

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Megan Hunsicker

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