Expanding the Client Network

U.S. HIGH-GRADE Our growth in overall trading activity has been driven by share gains with new and existing clients Trade Volume ($ billions) 1,500 1,000 500 11% 5-Year Vol. CAGR -9% YoY Vol. Growth U.S. HIGH-YIELD Trade Volume Trade Count 3,500 3,000 2,500 2,000 1,500 1,000 500 Trade Count (thousands) Trade Volume ($ billions) 500 400 300 200 100 2015 2016 2017 2018 2019 2020 2021 EMERGING MARKETS 700 600 500 400 300 200 100 Trade Volume ($ billions) 24% 5-Year Vol. CAGR 16% YoY Vol. Growth EUROBOND Trade Volume Trade Count 1,000 800 2015 2016 2017 2018 2019 2020 2021 600 400 200 Trade Count (thousands) Trade Volume ($ billions) 20% 5-Year Vol. CAGR -4% YoY Vol. Growth Trade Volume Trade Count الس 2015 2016 2017 2018 2019 2020 2021 1,000 800 600 400 200 20% 5-Year Vol. CAGR 12% YoY Vol. Growth Trade Volume Trade Count 400 300 200 100 2015 2016 2017 2018 2019 2020 2021 600 500 400 300 200 100 Trade Count (thousands) X Market Axess® 14 Trade Count (thousands)

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