Jefferies Financial Group Investor Day Presentation Deck

Expenses Align with Growth Tech, Comms & Professional Services Drivers ■ Elevated regulatory operating environment ■ Infrastructure modernization & mobility improvements ■ Cyber security risks & concerns ■ Front-Office systems to support expanded offerings Transaction & Client-Related Drivers ■ ■ Activity ramp up of new bankers Increased volumes ■ Expanded product offerings across regions ■ Return of conferences and employee travel Investment Banking, Capital Markets & Asset Management Non-Compensation Expenses 24 33% 8% $1.2B FYTD Q3'22 ■Tech, Comms & Professional Services Occupancy and Equipment 17% 42% ■ Other Expenses Transaction & Client Related Costs Jefferies

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