Investor Presentation:
3rd Quarter 2024
StoneX Group Inc.
August 6th, 2024

Disclaimer
The StoneX Group Inc. group of companies provides financial services worldwide, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments andforeign exchange products, through its subsidiaries, in accordance with applicable law in the jurisdictions where services are provided. References to over-the counter (“OTC”) products or swaps are made on behalf ofStoneX Markets LLC (SXM), a member of the National Futures Association (NFA) and provisionally registered with the U.S. Commodity Futures Trading Commission (CFTC) as a swap dealer. SXM’s products are designed
only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of SXM. StoneX Financial Inc. (SFI) is a member of FINRA/NFA/SIPC andregistered with the MSRB. SFI is registered with the U.S. Securities and Exchange Commission (SEC) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Advisor. References
to securities trading are made on behalf of the Broker-Dealer Division of SFI and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to exchange-traded futures andoptions are made on behalf of the FCM Division of SFI. StoneX Financial Ltd is registered in England and Wales, Company No. 5616586, authorized and regulated by the Financial Conduct Authority.
Trading swaps and over-the-counter derivatives, exchange-traded derivatives and options and securities involves substantial risk and is not suitable for all investors. The information herein is not a recommendation to
trade nor investment research or an offer to buy or sell any derivative or security. It does not take into account your particular investment objectives, financial situation or needs and does not create a binding obligation on
any of the StoneX Group companies to enter into any transaction with you. You are advised to perform an independent investigation of any transaction to determine whether any transaction is suitable for you. No part ofthis material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of StoneX Group Inc.
© 2024 StoneX Group Inc. All Rights Reserved
Numbers presented through 6/30/2024 unless otherwise noted.
Forward-Looking Statements
The following presentation should be taken in conjunction with the most recent financial statements and notes thereto as well as the most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q
and other reports filed with the SEC by StoneX Group Inc. (the “Company”). This presentation may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company's control, including adverse changes in economic, politicaland market conditions, losses from the Company's market-making and trading activities arising from counter-party failures and changes in market conditions, the possible loss of key personnel, the impact of increasing
competition, the impact of changes in government regulation, the possibility of liabilities arising from violations of federal and state securities laws and the impact of changes in technology in the securities, foreignexchange and commodities dealing and trading industries. Although the Company believes that its forward-looking statements are based upon reasonable assumptions regarding its business and future market conditions,
there can be no assurances that the Company's actual results will not differ materially from any results expressed or implied by the Company's forward-looking statements. The Company undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned that any forward-looking statements are notguarantees of future performance.
Non-GAAP Financial Measures
The following presentation includes non-GAAP financial measures, including Adjusted Net Income. Non-GAAP financial measures have certain limitations, including that they do not have a standardized meaning and,
therefore, may be different from similar non-GAAP financial measures used by other companies and/or analysts. The Company believes its reporting of select non-GAAP financial measures assists investors in evaluating
its historical and expected operating performance. However, because these are not measures of financial performance calculated in accordance with GAAP, such measures should be considered in addition to, but not as a
substitute for, other measures of the Company’s financial performance reported in accordance with GAAP, such as Net Income. See the Appendix for a reconciliation of the Company’s Adjusted Net Income to the mostdirectly comparable GAAP measure.

Company Highlights
16.0%
TTM Return on Equity(ending 6/30/24)

32% CAGR
Operating Revenue
FY 2003 – Q3’2024

28% CAGR
Book ValueFY 2003- Q3’2024

0.8x Operating Revenue
11.6x EPS
1.6x Price to Book(based on 7/31/24 market capitalization)

3

Investment Highlights
UNIQUE FINANCIAL SERVICES
PLATFORM

TRACK RECORD
OF SUCCESSDIVERSE AND RESILIENT BUSINESSMODEL

MULTIPLE MACRO DRIVERS OFGROWTHOPPORTUNISTIC INDUSTRYCONSOLIDATOR

Leading global financial services platform for mid-market institutional, commercial
and retail clients.
Integral part of the global financial infrastructure.



A 20+ year track record of consistent and significant growth in revenues, net
income and equity.



Diverse client base across multiple geographies and products generates
uncorrelated revenue streams.
Cost base is highly flexible.






StoneX benefits from near-term market volatility as well as long-term seculartrends that present attractive growth opportunities.
We are <1% of our total addressable market with further room to grow.
We have a successful track record of acquisitive growth and are well-positioned toincrease market share from further industry consolidation.

4

Who We Are

We Connect
Clients toMarkets
We Monetize the
Network

StoneX provides institutional-grade global market
access, end-to-end clearing and execution, hightouch service and deep expertise through one
trusted partner

We monetize client activity over
our global network through commissions andspreads on trades, interest earned on client
deposits and fees charged for our leading
expertise and market intelligence5StoneX at a Glance

40+

140

18,000+Exchanges

OTC Products

Currencies

Global Execution, Clearing & Custody Across Equities, Fixed Income, FX, and Commodities

54,000+Institutional,
Commercial &Payments Clients

400,000+ $6.9B+
Retail Clients$4.5T

Volume Traded (2)197M

Client Assets(1)$1,608M
Equity Capital

Listed Derivative
Contracts Traded

Supported by Expansive Global Footprint

4,300+
Staff

(1)
(2)

21

Countries across 6 continents

Represents the Q3’2024 quarterly average
Total volume traded of FX / CFD, Securities and Global Payments contracts on a trailing 12-month basis as of June 30, 2024

6

Our Global Footprint
MORE THAN 450,000 CLIENTSIN MORE THAN 180 COUNTRIESOVER 4,300 STAFF

LOCATED IN 21 COUNTRIES AND 6
CONTINENTS
Americas

EMEA

APAC

Exchanges
and Industry
Associations

Regulatory
Bodies7Company Timeline8Integral Part of the Global Financial Infrastructure
Efficient clearing andsettlement on over 40
exchanges and across 180+
foreign exchange markets

Member of SWIFT,
delivering client payments
through a proprietaryglobal network of over 350
correspondent banks

Leading Market
Intelligence online researchportal featuring over 150
components of proprietary
daily commentary acrossasset classes$6.9+ billion of Client
Float across our FCM,
Broker-Dealer and Retail
OTC businessHigh value-add service
provided through a team ofover 300 risk management
consultants

Provide liquidity for clients
across a wide range offinancial products (exchange
and OTC)
9

Unique Financial Services Platform
Global Diversified
Client Base

INSTITUTIONALRETAIL

Risk Profile

RISK TAKERS% of Total Net
Operating Revenue

48% of Net Operating Revenue

COMMERCIALPAYMENTSRISK MITIGATION

TREASURY MANAGEMENT

52% of Net Operating Revenue

Segment
Description

 Global trading, execution, clearing
and provision of liquidity forinstitutional clients
 Multi asset-class offering including
equities and options, broad range of
fixed income products and accessto over 40 derivative exchanges
 Growing suite of institutional grade
trading and analytics platforms

 Leading retail platforms offering
access to over 18,000 derivative
products to over 400,000 accounts
globally Network of ~400 independent
advisors managing ~$17.5bn inassets Digital platform offering access to arange of precious metal products Tailored risk management solutions
for commercial entities Capabilities include listed
derivatives, bespoke structured
products and physical trading Expertise across all commodity
verticals as well as FX and interest
rates Platform provides efficient transfer
of funds into more than 180
countries Fully-fledged domestic payments
capability handling in-bound andoutbound payments in Brazil
 Network of over 350 correspondentbanks ensures efficient andeffective payments

Client Types

Fund managers / Broker dealers /Investment advisors / Banks/
Insurance cos. / Commercial hedgers /Hedge funds / Introducing Brokers / Fin.
institutions

Active retail and professional traders /Independent broker dealers / Wealthmanagement firms / Independent
wealth advisors

Commercial hedgers / producers /Wholesalers & merchants /Corporations /Introducing Brokers / Traders / Grainelevators / Merchandisers / Importers /Exporters

Financial institutions / Banks / Nonprofits / Government organizations /NGOs / Corporations / SMEs /Educational institutions

TTM Net Operating
Revenue

$587M

$277M

$718M

$205M

TTM Segment
Income

$244M

$117M

$380M

$120M

Trailing Twelve Months (TTM ) balances reflect full year figures ending June 30, 2024

10

Global Multi-Asset Product and Service Offering
FIXED INCOME

EQUITIES

Government Bonds
US Treasury Bills
US Notes and Bonds
US TIPSUS Zero-Coupon
US Municipal Securities
European SSAs

I

C

R

US Agency Products
MBS
CMO
CMBS
Debentures
Money Market

I

C

R

Credit Products
US Investment Grade
US High Yield
US Convertibles
US Bank Loans
European Corporate Debt
European Covered Bonds
Emerging Market Bonds
CDs

I

C

R

Structured Products
Private-label Products
ABS
ETNs
Other Securitized Products

I

C

R

Global Cash Equities
US Cash Equities
European Cash Equities
Canadian Cash Equities
Latin America Cash Equities
Asia Cash Equities
Other EM Cash Equities
US SPACs
Foreign ADRs and GDRs
UCITS

I

C

R

ETFs and Mutual Funds
US ETFs
European ETFs
US Mutual Funds

I

C

R

PAYMENTS AND PRECIOUS METALS
Payments
G10
Emerging Markets
Frontier Markets

I

C

R

Precious Metals
Precious Metal Bars/Coins
Non-refined Metal

I

C

R

I

C

R

Prime Brokerage & Custody
FX Prime Brokerage
Equity Prime Brokerage
Fixed Income Prime Brokerage

I

C

R

POST-TRADE SERVICESDERIVATIVES
Exchange-Traded (F&O)
Equity and Equity IndicesGrains and Oil seeds
Softs
Energy and Renewable Fuels
Environmental
Dairy, Meat and Livestock
MetalsForest ProductsInterest Rates
Iron Ore
Freight Forward Agreement
Foreign Exchange
Cryptocurrencies

I

C

R

Over-the-Counter (OTC)
Lookalike Swaps/Options
Customizable Swaps/Options
Exotic Options
Composites
Quantos(1)
Contracts for Difference
Other Structured Products

I

C

R

Clearing
Securities
Exchange-Traded Derivatives
Swaps and OTC Products

OTHER SERVICES
Retail Wealth Management, Exchange-Traded Derivatives Facilities Management, Metal Financing/Leasing, Repofinancing, SWIFT Service Bureau Services, Market Intelligence and Risk Management Consulting

I =Institutional C =Commercial R= Retail(1) CFDs are offered on Exchange-Traded Products, Cash Equities and FX in certain jurisdictions11Track Record of Success
LONG-TERM FINANCIAL PERFORMANCESTOCKHOLDER RETURN$3,500

CAGR

4,500

20%

4,000

CAGR

28%

4%

7%

32%

29%

$3,0003,500$2,500$2,000

2,500
2,000

$1,5001,500$1,000
1,000
$500

500

Shareholders equity

Superior growth rates and financial performance

Operating Revenue

Market Cap

2022

2023

2021

2020

2019

2018

2017

2016

2015

2014

2012

2013

2011

2010

2009

2007

2008

2005

2006

2004

2024

2023

2021

2022

2020

2019

2018

2017

2016

Nasdaq Financial 100

TTM Jun-24

Russell 2000

2015

2014

2012

2013

2011

2010

2009

2007

2008

2005

2006

2004

SNEX

2003

$0

2003

Index = (2003 = $100)

3,000

Years are SNEX financial years ending on 30 September

12Track Record of Success
NET INCOME ($MM)

OPERATING REVENUE ($MM)$3,294$3,500$2,914$3,000$2,500$1,500$240$1,673$1,106$120$1,000

$80

$500

$40
2019

2020

2021

2022

2023

$1,608$1,600$1,379$1,400$1,200

2021

2023

TTM

$215

$223

2022

2023

$280
$240

$239

$200

$1,070$768

2020

ADJUSTED NET INCOME* ($MM)$1,800$1,0002019

TTM

STOCKHOLDER’S EQUITY ($MM)

$600

2022

$116
$85

$0

$0

$800

$235

$170

$160

$1,308

$239

$207

$200

$2,107$2,000

$280

$160

$904

$124

$120

$594

$80

$400

$100
$68

$40

$200
$0
2019

2020

2021

2022

2023

TTM

$0
2019

2020

2021

TTM

Reconciliations of Non-GAAP measures to relevant GAAP measures are found in Appendix*
Trailing Twelve Months (TTM ) balances reflect full year figures ending June 30, 2024

13

Diverse and Resilient Business Model• Global access to over 40 exchanges and18,000 OTC products• Clients in over 180 countries served by global
footprint of more than 4,300 staff• Global payment solutions in over 180 countries
and 140 currencies• Local presence provide “Boots on the Ground”
to serve clients in virtually every global
marketplace• Forex.com and City Index, two of the largest
and best-known retail trading brands in theworld• Combination of digital trading platforms andhigh-touch service• Vertically integrated execution, clearing &custody• Diversified across over 400,000 retail client
accounts and more than 54,000 institutional,
commercial and global payment clients• Specific mid-market focus• Multiple touch points with clients creates
stickiness• Long-term client relationships drive recurring
revenue• Market volatility drives revenue• Minimal exposure to directional market risk•

• Highly flexible cost structure targeting >50%of total costs to be variable

Management continuity and ownershipsince 2003 provides steady focus on
strategy execution•• Strong balance sheet with ample liquidity

Continued focus on key metric of 15%
Return on Equity to compound capital•• Low correlation across asset classes andmarkets produces stable top-line growth

Diligent risk management to underpin
growth and preserve capital growth•

Disciplined focus on strategic acquisitions
to complement organic growth• Significant recurring revenue from interestand fees on $6.9+ billion of client balances

14

Multiple Near-Term and Long-Term Macro Drivers for Growth
Volatility

Client Behavior• Business model generates financial value from market volatility, as higher
volatility drives increased activity and transaction volumes over our network• Despite difficult macro market conditions for clients, we continue to provide
market intelligence, trading and risk management tools to support their needs,
ensuring clients remain sticky to our platform• Market volatility increases demand from corporate and institutional clients
looking to hedge their exposure, which in turn drives demand for our services
and products offered• Heightened levels of volatility can cause bid/ask spreads to widen, also
increasing our capture rate as a market-maker in certain products• Clients continue to seek a “one stop shop” for financial needs• Continual digitization of our platform to better satisfy client needs andincrease operational efficiency in a cost-effective manner

Short-Term

Regulation• Long-term trend of increased
regulation pressuring marginalcompetitors• Regulatory burden creates barriers
to entry• Regulatory cost and complexity
creates potential acquisition
opportunities

Globalization

Macro
TrendsLong-Term

Interest Rates• Clients increasingly seek global
solutions• $6.9+ billion in client funds drive
significant, high margin revenue• Liquidity increasingly fragmented
with few firms able to provide
access to disparate liquidity pools• Changes in interest rates typicallydrive market volatility• International growth opportunities

Mid-Market
Customer Focus• Middle-market clients underservedby large banks which are focusedon large clients• Few firms outside of large banks
can provide breadth of products
and services• Clients demand to transact withwell-capitalized counterparties

15

Opportunistic Industry Consolidator
Well-Positioned to Take Advantage of Further Consolidation• StoneX maintains an advantageous position in a highly regulated industry whereclients reward counterparties possessing a strong capital base, regulated status anddeep sector experience• Costly regulatory, compliance and capital rules have increasingly pressured smaller,
insufficiently capitalized firms while benefiting stronger firms such as StoneX• These same rules (e.g. MIFID and Dodd-Frank) have also impacted bulge bracket
banks, prompting an offloading of non-core businesses and creating attractive
inorganic growth opportunities for mid-market firms like StoneX• StoneX’s solid balance sheet, favorable regulatory position and publicly traded status
make it an appealing partner to potential acquisition targets• StoneX has significant expertise and is a proven, reliable partner, completing over 20
acquisitions in the past 10 years
Acquisition Criteria• Patient and disciplined approach to acquisitions has reaped benefits for StoneX
shareholders• Typical acquisition criteria include:• Client-centric businesses• Broadens capabilities (products, expertise, geographies, technology, etc.)• Short payback period• Limited leverage and goodwill• Highly opportunistic

Selected Acquisitions
Successful Track Record of Acquisitive Growth andPlatform Integration Across Consolidating Sectors
October 2022

Acquired a global cotton merchantbusiness with a strong network of
producers in Brazil and West Africa,and buyers in the APAC region

August 2020

Acquired a global leader in online
retail trading providing active traders
access to a broad range of financial
markets

October 2019

Acquired UOB Bank’s futures andoptions brokerage and clearing
business based in Singapore

January 2019

Acquired a US broker-dealer
specializing in high yield, convertible
and EM debt
(fka Miller Tabak Roberts)

July 2017

January 2015

Acquired Sterne Agee’s
correspondent securities clearing
and independent advisorybusinesses

Acquired a US broker-dealer
specializing in US Treasuries,
Agencies and mortgage-backed
securities

16

Recent Financial Results

Fiscal Q3 2024 & TTM Highlights
Third Quarter*

Highlights

Operating Revenues$913.7mm
Up 18%

Diluted EPS$1.88
Down 13%Net Income
As Reported

Adjusted$61.9mm$62.8mm

Down 11%

Down 13%Return on Equity
As Reported

Adjusted

15.7%

15.9%

21.6% Q3’23

22.3% Q3’23

Trailing Twelve Months**$3,294.1mm
Up 21%

Diluted EPS$7.21
Down 4%• On a consecutive quarterly basis (vs. Q2 2024) (“PQ”):• Operating revenues up 12%, NOR up 11%• Fixed compensation up 6% or $6.2mm• Variable compensation up 14% or $16.9mm• Net income up 17% or $8.8mm• Reversal of MTM adj. on precious metals inventory carried at cost ~+$8.5mm in Q3 2024 versus +$3.6mm in Q3 2023

Net Income

Operating Revenues• Versus the prior year quarter (“PY”):• Operating rev. up 18%, Net operating rev. (“NOR”) up 7%• Total expenses up 12%• Fixed compensation up 22% (includes $4.5mm related todeparting executive officer)• Variable compensation up 8%

As Reported

Adjusted$234.8mm$238.9mm

Down 2%Up 6%

Return on Equity
As Reported

Adjusted

16.0%

16.3%

20.2% Q3’23

19.0% Q3’23

Adjustments to financial measures can be found in the Appendix*Quarterly percentage changes reflect fiscal Q3 2024 vs fiscal Q3 2023 figures**Trailing Twelve Months percentage changes reflect full year figures ending June 30, 2024, vs full year ending June 30, 2023

• $6.6mm of incremental net interest expense related to retirement ofsenior secured notes• Quarterly ROE of 15.7% while equity has increased 54% over the last twoyears• Q3’24 Average client equity + money-market/FDIC sweep client balances~$6.9bn, down 10% vs Q3’23 and down 3% vs Q2’24• Interest/fee income from client balances up $23.7mm vs Q3’23, up$11.7mm vs Q2’24• Book value per share of $50.65, up 19% versus prior year

18

Review of Key Performance Indicators (TTM)
Compounding Capital

TARGET MET

16.0%

TARGET MET

51.8%

TARGET MET$804k

Target: Total compensation to revenue of <40%

TARGET MET

27.9%

Risk Metrics

TARGET MET

0.2%

Target: Annual shareholder return on equity of 15%

Flexible Cost Structure
Target: >50% of total variable costs to total non-interest expense

Revenue per Employee
Target: >$500k per annum

Compensation Ratio

Target: Bad debt <1% of annual operating revenue

Figures above reflect trailing twelve months as of June 30, 2024

19

Key Financial Results(in millions, except share and per share amounts)

Operating revenues

Three Months Ended

TTM

September

December

March

June

September

December

March

June

June

30, 2022

31, 2022

31, 2023

30, 2023

30, 2023

31, 2023

31, 2024

30, 2024

30, 2024

$

583.4

$

654.8

$

704.4

$

776.9

$

778.0

$

784.2

$

818.2

$

913.7

$

3,294.1

Transaction-based clearing expenses

69.1

67.3

69.2

66.7

68.6

74.3

78.5

81.0

Introducing broker commissions

37.4

36.8

42.2

43.4

39.2

39.1

42.0

43.1

163.4

Interest expense

77.6

154.3

178.7

216.0

253.2

236.0

259.2

297.0

1,045.4

Interest expense on corporate funding

302.4

11.6

14.4

14.9

14.9

13.3

13.2

16.2

24.1

66.8

Net operating revenues

387.7

382.0

399.4

435.9

403.7

421.6

422.3

468.5

1,716.1

Variable compensation and benefits

129.7

118.5

121.8

130.5

112.4

121.9

123.7

140.6

498.6

Fixed compensation and benefits

80.8

80.5

110.7

96.1

98.1

96.2

110.7

116.9

421.9

Other fixed expenses

106.4

110.2

106.4

108.5

113.2

108.1

122.9

124.3

468.5

Bad debts, net of recoveries
Total compensation and other expenses
Gain on acquisition and other gains (losses)
Income before tax
Income tax expense (benefit)
Net income

4.4

0.7

3.0

6.3

6.5

(0.3)

(0.4)

0.5

6.3

321.3

309.9

341.9

341.4

330.2

325.9

356.9

382.3

1,395.3

—

23.5

(0.0)

(0.0)

1.9

—

6.9

1.8

10.6

66.4

95.6

57.5

94.5

75.4

95.7

72.3

88.0

331.4

14.1
$

19.0

52.3

$

76.6

15.8
$

25.0

41.7

$

69.5

24.7

26.6

19.2

$

50.7

$

69.1

$

53.1

26.1
$

96.6

61.9

$

234.8

Earnings per share:
Basic

$

1.72

$

2.50

$

1.35

$

2.24

$

1.62

$

2.20

$

1.68

$

1.95

$

7.45

Diluted

$

1.66

$

2.41

$

1.30

$

2.17

$

1.57

$

2.13

$

1.63

$

1.88

$

7.21

Net asset value per share

$

35.14

$

38.11

$

40.21

$

42.73

$

44.21

$

47.08

$

48.74

$

50.65

$

50.65

Return on equity

26.1 %

27.3 %

13.8 %

21.6 %

15.0 %

19.3 %

14.0 %

15.7 %

16.0 %

20

Balance Sheet Summary
USDmm
Cash and cash equivalents
Cash, securities and other assets segregated under federal andother regulations 1
Securities purchased under agreements to resell

6/30/2023

6/30/2024

1,401

1,221

2,492

2,750

2,642

4,905

1,094

1,156

7,298

7,570



Securities borrowed

Conservatively capitalized with moderate debt
• 0.5x Debt/Equity as of 6/30/24

Considerable excess capital

Deposits with and receivables from broker-dealers,
clearing organizations and counterparties, net
Receivable from clients, net
Note receivable, net

1

1

2

3

2

4

Financial instruments owned, at fair value
Physical commodities inventory, net

2

3

699

871

5

-

5,305

6,155

445

587

122

157

3

Operating right of use assets
Goodwill and intangible assets, net

8577

Other assets

344

480

21,93325,931

9,724

10,586

Operating lease liabilities

151

194

Payable to broker-dealers, clearing organizations
2and counterparties
Payables to lenders under loans

634

429

423

228

Securities sold under agreements to repurchase

5,030

7,072

Securities loaned

1,093

1,124

2,696

3,570

Senior secured term loan, net

341

543

Accounts payable, accrued and other accrued liabilities

512

578

20,60324,323

Total assets
Payables to clients

1

2

Financial instruments sold, not yet purchased, at fair value

Total liabilities
Total stockholders' equity
Total liabilities and stockholders' equity

1

2

1,330

1,608

21,93325,931• ~$422.9mm of regulatory capital in excess of required amounts(1)Solid liquidity position• $1,221m of unrestricted cash and cash equivalents• $985mm of undrawn committed credit facilities$6.9bn+ of Client Float (FCM+BD+OTC CFD/FX)(2)KEY:
1

Exchange Traded Futures & Options(Client Assets and Liabilities Segregated from Firm Activities)23

Physical Commodities

4

OTC (Commodities,
Equities, Debt, FX)
Client Commodity Financing(1) Based on subsidiaries with minimum regulatory requirements of at least $10mm(2) Investable fund balances as of 6/30/2024

21

Transaction Volumes and Other Select Data
September

December

March

June

September

December

March

June

30, 2022

31, 2022

31, 2023

30, 2023

30, 2023

31, 2023

31, 2024

30, 2024

Listed derivatives (contracts, 000’s)

40,81340,19941,58839,044

39,46150,75953,80552,736

Listed derivatives (average rate per contract)(1)

$2.31

$2.33

$2.54

$2.62

$2.33

$2.03

$1.98

$2.39

$6,697$8,222$7,222$6,459$6,644$6,170$6,064$5,957

737

717

858

1,063

915

814

810

959

OTC derivatives (average rate per contract)$67.02$60.08$67.94$67.75$65.91$54.92$65.66$69.03

Securities average daily volume (“ADV”) (USDmm)$3,599$4,231$5,759$5,378$5,662$6,224$7,473$7,358

Securities rate per million (“RPM”) (2)

$480

$422

$282

$262

$265

$295

$239

$239

Average money market / FDIC sweep client balances (USDmm)$1,946$1,535$1,374$1,269$1,172$1,060$1,047$968

FX / Contracts For Difference (“CFD”) ADV (USDmm)$12,263$12,830$13,490$10,513$10,938$10,917$10,453$10,861

FX / CFD contracts RPM

$103

$63

$72

$107

$113

$109

$120

$111

Global Payments ADV (USDmm)

$64

$75

$65

$65

$62

$75

$64

$69

$10,680$11,431$11,916$12,907$13,406$12,557$12,327$11,264

Trading days - Retail

66

65

65

65

65

65

65

65

Trading days – Commercial & Institutional

64

63

63

62

63

63

61

63

Average client equity - Listed derivatives (USDmm)
Over-the-counter (“OTC”) derivatives (contracts, 000’s)

Global Payments RPM(1) Give-up fee revenue, related to contract execution for clients of other FCMs, as well as cash and voice brokerage revenues are excluded from the calculation of listed derivatives, average rate per contract(2) The calculation of Securities RPM represents the RPM after excluding interest income associated with our equities activities and deducting the interest expense associated with our fixed income activities from operating revenues

22Appendix

Interest Rate Sensitivity
Interest/Fees Earned on Client Balances by Quarter
$160

$84.2

$66.2

USDmm

$80

$10.0

$11.2

$13.9

$61.7

$62.1
$60

$14.7

$17.8
$15.6

Annual Rate Change Post-tax Effect on Net Incremental Effect on(bps) (1)Income(3)Post-tax EPS (3)

$70
$58.2

$49.7

Potential + / - Incremental Change in Net Interest & 12b1 Fees
Earned (USDmm) (2)

$15.2

$15.2

$12.7
$14.4

$25.9

$14.2

$31.0
$50
$13.8
$40

USDmm

$120

$90
$80

$75.7

$140

$100

Annualized Interest Rate Sensitivity

25

$5.2

$0.16

50

$10.4

$0.33

75

$15.6

$0.49

100

$20.8

$0.66

$60
$30
$40
$62.3

$70.0

$65.8

$73.0

$71.3

$67.0

$71.0

$20

$20
$10

$0

$0
Q1'2023

Q2'2023

Q3'2023

Q4'2023

Q1'2024

Q2'2024

Interest Income - FCM Client Deposits

Fee/Interest Income on Securities Clearing

Other Interest Income

Net Interest/Fee Income (RHS)*

Q3'2024* Interest/Fees earned on client balances, net of amounts paid to clients and the effect of Interest Rate Swaps(1) Assumes a parallel shift in yields(2) Based on the total average investable balances of $6.6bn as of 6/30/24 ($5.5bn from FCM and $1.0bn from Correspondent Clearing funds), net of $1.0bn of interest rate swaps. Net of Incremental Interest
Expense on Variable Rate Debt, average balance of $243.4mm at 6/30/2024(3) Based on a 27.5% effective tax rate

24

SNEX: Quarterly Reconciliation of Net Income to Adjusted Non-GAAP
Amounts and Calculation of Adjusted Return on Equity(in millions)
Net income (non-GAAP) reconciliation:
Net income, as reported (GAAP)

Q3 2022

Q4 2022

Q1 2023

Q2 2023

Q3 2023

Q4 2023

Q1 2024

Q2 2024

Q3 2024

$

$

$

$

$

$

$

$

$

49.1

52.3

76.6

41.7

69.5

50.7

69.1

53.1

61.9

Gain on acquisition

0.0

0.0

(23.5)

0.0

0.0

0.0

0.0

0.0

0.0

Acquisition related expense, net of tax

1.9

2.1

2.2

2.1

2.3

1.4

0.9

0.9

0.9

Adjusted net income (non-GAAP)(1)(in millions)
Calculation of adjusted return on equity (non-GAAP)
Total stockholders' equity - beginning of period, as reported (GAAP)$

Adjusted return on equity (non-GAAP)(2)

(1)
(2)

$

54.4

$

55.3

$

43.8

$

71.8

$

52.1

$

70.0

$

54.0

$

62.8

Q3 2022

Q4 2022

Q1 2023

Q2 2023

Q3 2023

Q4 2023

Q1 2024

Q2 2024

Q3 2024

$

$

$

$

$

$

$

$

$

Total stockholders' equity - end of period, as reported (GAAP)
Average stockholders' equity

51.0

1,005.6

1,047.3$

1,026.5
19.9 %

1,047.3

1,070.1$

1,058.7
20.5 %

1,070.1

1,176.6$

1,123.4
19.7 %

1,176.6

1,247.3$

1,212.0
14.5 %

1,247.3

1,329.9$

1,288.6
22.3 %

1,329.9

1,379.1$

1,354.5
15.4 %

1,379.1

1,482.8$

1,431.0
19.6 %

1,482.8

1,542.6$

1,512.7
14.3 %

1,542.6

1,607.8$

1,575.2
15.9 %

The adjusted net income (non-GAAP) is presented to reflect net income for each period, adjusted to exclude the effects of gain on acquisitions and acquisition-related expenses, net of tax.
Adjusted return on equity (“ROE”) is calculated by dividing adjusted net income by average stockholders’ equity.

25

SNEX: TTM Reconciliation of Net Income to Adjusted NonGAAP Amounts and Calculation of Adjusted Return on Equity(in millions
Net income (non-GAAP) reconciliation:
Net income, as reported (GAAP)

6/30/2022

9/30/2022

12/31/2022

3/31/2023

$

$

$

$

162.1

207.1

242.0

Twelve Months Ended
6/30/2023
9/30/2023

219.7

$

240.1

$

238.5

12/31/2023

3/31/2024

6/30/2024

$

$

$

231.0

242.4

234.8

Gain on acquisition

0.0

0.0

(23.5)(23.5)(23.5)(23.5)

0.0

0.0

0.0

Acquisition related expense, net of tax

8.1

7.7

8.1

8.3

8.7

8.0

6.7

5.5

4.1

Adjusted net income (non-GAAP)(1)(in millions)
Calculation of adjusted return on equity (non-GAAP)
Total stockholders' equity - beginning of period, as reported (GAAP)$

Adjusted return on equity (non-GAAP)(2)

(1)
(2)

$

214.8

$

226.6

$

204.5

6/30/2022

9/30/2022

12/31/2022

3/31/2023

$

$

$

$

Total stockholders' equity - end of period, as reported (GAAP)
Average stockholders' equity

170.2

901.4
1,047.3

$

974.4
17.5%

904.0
1,070.1

$

987.1
21.8%

953.0
1,176.6$

1,064.8
21.3%

$

$

223.0

Twelve Months Ended
6/30/2023
9/30/2023

1,005.6$

1,247.3$

225.3

1,126.5
18.2%

1,047.3$

1,329.9$

1 ,188.6
19.0%

1 ,070.1$

1,224.6
18.2%

$

247.9

$

238.9

12/31/2023

3/31/2024

6/30/2024$$$

1,379.1$

237.7

1,176.6
1,482.8$

1,329.7
17.9%

1,247.3
1,542.6$

1,395.0
17.8%

1,329.9
1,607.8$

1,468.9
16.3%

The adjusted net income (non-GAAP) is presented to reflect net income for each period, adjusted to exclude the effects of gain on acquisitions and acquisition-related expenses, net of tax.
Adjusted return on equity (“ROE”) is calculated by dividing adjusted net income by average stockholders’ equity.

26

SNEX: Non-GAAP Adjustments Detail
These notes refer to the financial metrics and/or defined term presented on Slide 13, 18, and the Appendix.
Adjusted Net Income adjusts for the after-tax effects of the below items for the respective financial year:
Fiscal 2022: acquisition related expenses of $7.7m related to the amortization of acquired intangible assets.
Fiscal 2023: $23.5m non-taxable gain on the acquisition of CDI on October 31, 2022 and acquisition related expenses of $8.0m related to the amortization of
acquired intangible assets.
TTM June 2024: acquisition related expenses of $4.1m related to the amortization of acquired intangible assets.

27

Thank you