LSE Mergers and Acquisitions Presentation Deck

Growth opportunities in each of the combined company's key segments Data & Analytics (3) Capital Markets Post Trade Pro Forma Business Mix (¹) (2) (2019A) £4.6bn £1.1bn £0.8bn 37% Trading 23% Investment Solutions 6% Risk 13% Primary 19% FX 68% LCH 26% LCH-Net Treasury Income 24% Enterprise Data 10% Wealth 8% Equities 60% Fixed Income, Derivatives & Other 6% UnaVista Key Growth Drivers London Stock Exchange Group Digitisation, Al and automation driving demand for direct data-driven solutions Customers increasingly need enhanced data management, more sophisticated analytics and data solutions and effective data distribution Growing demand for unified user experience and simplified access Passive and alternative investment AUM expected to more than double by 2025 Largely subscription based revenue with some asset based revenue components from FTSE Russell Increasing demand for coverage across the investment value chain Electronification of asset classes and automation of multi-asset class investment strategies Global trading driven by the growth and changing distribution of global wealth Increased numbers of market participants and volumes of financial transactions Largely transaction based revenue drivers, however annual primary markets fees are more recurring in nature Regulatory mandates and economic incentives driving demand for post trade services Phase in of uncleared margin rules will drive market participants to centrally clear more trades Increased customer focus on margin, capital efficiencies and risk management capabilities Expanded product offering using Refinitiv's data management and enrichment capabilities Note: (1) Unaudited all revenues exclude Recoveries and revenues associated with the divestment of Borsa Italiana. (2) Pro-forma income for the combined company has been prepared for illustrative purposes only and does not necessarily reflect future segmental reporting of the combined company post completion (3) Data & Analytics revenue excludes recoveries Page

View entire presentation