Summary: Brex lowers cash yield to 4.04%

Why It Matters: Brex changed the interest rate it offers on cash. This could affect how attractive their cash management product is to customers.

What Changed:

• The advertised yield for "Banking and treasury" changed from 4.07% to 4.04%.
• The advertised yield for "Maximize your spending power" changed from 4.07% to 4.04%.
• The advertised yield for "Best-in-class treasury" changed from 4.07% to 4.04%.
• The effective date for the yield in the fine print changed from 11/06/25 to 11/07/25.
• The customer testimonial changed from Lemonade's Mike Duffy to DoorDash's Mike Kim.