Expanding the Client Network

3. Continue to invest in and grow our business through product and geographic diversification TOTAL ACTIVE CLIENT FIRMS BY PRODUCT 1,877 • 1,271 932 860 1,211 2016 2021 1,321 1,238 793 676 411 HIGHLIGHTS European client volume of $687 billion, up 5% Emerging market volume of $649 billion, up 16% • Over 1,870 active firms globally and over 950 active international client firms • Significant increase in client count across products U.S. High-Grade U.S. High-Yield Emerging Markets Eurobonds Total TOTAL ACTIVE INTERNATIONAL CLIENT FIRMS AND % OF VOLUMES¹ 9% YoY Volume YoY Growth of 5% EUROPEAN CLIENT VOLUMES U.S. Credit Eurobonds Emerging Markets U.S. Credit Growth International Clients Percent of Volumes Emerging Markets Eurobond -11% 7% 9% 1,000 35.0% 800 # of Active Firms 700 800 30.0% 600 $127 $113 600 25.0% $ billions 500 $98 $260 400 $245 $76 $218 300 $75 400 20.0% $56 $161 200 $86 $123 S32 100 $54 $241 $293 $314 200 15.0% $75 $127 $123 $166 2015 2016 2017 2018 2019 2020 2021 2015 2016 2017 2018 2019 2020 2021 1. International firms include all firms outside of the United States and Canada X Market Axess® 12

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