Investor Presentaiton

4 Resilient business model with natural hedges to market volatility We benefit from rising market levels and interest rates, and our business model has natural hedges to market volatility Macro benefits Market Levels (S&P 500) Rising market levels drive growth in assets and related revenues including advisory fees, trailing commissions, and sponsor revenues Interest Rates Rising interest rates benefit our client cash yields Annual Gross Profit* Impact ~$10M Per 1% change in market levels ~$40M (11) Per 25bps change in short-term rates Natural offsets to market declines Cash Sweep Balance Increased risk and volatility in the market drives higher cash sweep balances Transaction Volume Increased risk and volatility in the market drives additional portfolio rebalancing activity and higher transaction volumes As equity markets declined in 1H 2022, cash balances increased by ~$13B, which translates to a ~$550M benefit annually(12) Transaction revenue increased ~$7M sequentially in Q1 2022 LPL Financial Member FINRA/SIPC 19

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