Ig Group Holdings Plc · LSE:IGG
Ig — Investor Day (October 2026)
62 slides from Ig's investor day presentation, Oct 22, 2026
Slide 1: IG Group, 22 October 2026
IG Group ( 22 ocToBER 2026 )
Slide 2: Agenda
AGENDA 1 2 3 INTRODUCTION IG CONSUMER IG SECURITIES 4 5 6 TASTYTRADE FINANCIALS CONCLUSION AND Q&A 2
Slide 3: Strategic review outcomes
STRATEGIC REVIEW OUTCOMES 2 3 1 ACQUISITION REFRESHED OF UNDERDOG ORGANISATIONAL • Accelerates revenue growth MODEL • Expands IG’s addressable market REDOMICILE • Five divisions to three – • Structured for disciplined TO JERSEY reducing complexity value creation • Enhances strategic • Delayering and
Slide 4: Delivering stronger growth
DELIVERING STRONGER GROWTH NEW CUSTOMER ACQUISITION +121% Organic first trades ACTIVE CUSTOMERS +17% Organic active customers 2024 vs LTM to 30 Sept 2024 vs LTM to 30 Sept 2026 2026 +10% Low NET TRADING STRONG MARGINS 40s % REVENUE Organic net trading revenue CAGR1 2024 vs EBITDA margin guidance for
Slide 5: Growing active customers
GROWING ACTIVE CUSTOMERS ORGANIC, CONTINUING OPERATIONS FREETRADE AND INDEPENDENT RESERVE (INC. DISCONTINUED OPERATIONS) Active customers (‘000) First trades (‘000) Assets under administration (£bn) +11% y/y +11% y/y +57% y/y +43% y/y +23% y/y +15% y/y 825 203 22.4 742 513 54 18.2 5.3 460 129 149 3.
Slide 6: Closing product gaps
CLOSING PRODUCT GAPS 2026 Unified proposition 2025 live in UK; Underdog adds fantasy sports and prediction Spot crypto live in markets in the US UK, EU and APAC 2025 D2C investment 2024 platforms live in UK, EU and APAC Niche CFD offering 6
Slide 7: Large, fast-growing, high engagement markets
LARGE, FAST-GROWING, HIGH ENGAGEMENT MARKETS TOTAL ADDRESSABLE MARKET BY REVENUE (TAM) 1 IG PENETRATION OTC derivatives Futures & options Stock trading Crypto Prediction markets 2 Pro forma TAM & investments >£62bn >£57bn >£42bn >£18bn >£8bn <10% <1% <1% <1% 1. BCG estimates for the global retail op
Slide 8: Strong structural tailwinds
STRONG STRUCTURAL TAILWINDS GOVERNMENT GROWTH RISING POLICY OF SELF- ENGAGEMENT INCENTIVES DIRECTED FROM A TO SAVE AND TRADING YOUNGER, INVEST AND MOBILE FIRST INVESTING GENERATION INNOVATION WIDENING GROWING APPETITE THE RANGE OF TO ACCESS TRADEABLE ASSETS INTERNATIONAL MARKETS 8
Slide 9: Investing, trading and entertainment are converging
INVESTING, TRADING AND ENTERTAINMENT ARE CONVERGING ENTERTAINMENT BRANDS THAT ENGAGE, EDUCATE AND ENTERTAIN INVESTING TRADING 9
Slide 10: IG Group leadership
IG GROUP LEADERSHIP SARAH CLIFFORD MICHAEL ANDY MICHAEL LOUISA GORE ABRAHAMS HEALY BIGGS VAUGHAN MEYER LANGTON Group Chief CEO, IG Consumer CEO, IG Securities CEO, tastytrade Group Chief Risk Group Chief People Financial Officer Officer O fficer JEREMY CEO, LEVINE Underdog 10
Slide 11: Our priorities
OUR PRIORITIES IG CONSUMER IG SECURITIES TASTYTRADE UNDERDOG Scale UK playbook Convert more OTC Grow from a niche Win share in US across IG Consumer, flow to revenue and options platform fantasy sports, funded by strong grow institutional into a broader prediction markets unit economics offering US
Slide 12: IG Consumer
IG CONSUMER 12
Slide 13: IG Consumer overview
IG CONSUMER OVERVIEW STRONG FUNDAMENTALS WITH AN INTERNATIONAL FOOTPRINT1 Scaled and geographically diversified UK Total revenue: £392m Active customers: 556k Highly profitable and cash generative Outstanding unit economics EUROPE Deep and difficult to replicate Total revenue: £144m derivatives capa
Slide 14: Rebuilding our UK playbook since early 2025
SINCE EARLY 2025, WE HAVE REBUILT OUR UK PLAYBOOK UK PLAYBOOK STEP- SHARPENED SCALED MODERNISED UPLIFTED CHANGED STRATEGIC CUSTOMER SERVICE CAPABILITY AMBITION FOCUS GROWTH MODEL Low growth, niche Unclear prioritisation Narrowly focused, High touch, high OTC domain experts FROM OTC specialist budget
Slide 15: UK growth more than double the rest of Consumer
SINCE LAUNCHING OUR PLAYBOOK, UK GROWTH HAS BEEN MORE THAN DOUBLE THE REST OF CONSUMER Net trading revenue growth 1 Active customer growth 1 UK growth >2x rest of IG UK vs. rest of consumer Consumer on CAGR basis UK vs. rest of consumer 22% UK REST OF IG CONSUMER UK REST OF IG CONSUMER 12% 13% 11% 7
Slide 16: Our vision: leading international platform for active investors
OUR VISION BUILDING A LEADING INTERNATIONAL PLATFORM FOR ACTIVE INVESTORS 16
Slide 17: Three priorities for the next phase of growth
THREE PRIORITIES TO DELIVER THE NEXT PHASE OF GROWTH 1 2 3 BROADEN AND ENRICH OUR PROPOSITIONS INVEST IN OUR BRAND ENHANCE EFFICIENCY • Deepen product proposition • Broaden reach • Refreshed organisational model • International rollout of • Strengthen perception • Improved digital servicing Unified
Slide 18: One unified platform across IG Consumer
1 BROADEN AND ENRICH OUR PROPOSITIONS ONE UNIFIED PLATFORM, ACROSS IG CONSUMER UNIFIED PRODUCT EXPERIENCE One platform with CFD, spread betting, share dealing, crypto, predictions and beyond SEAMLESS UX ALIGNED UNDER Modern, customer -centric design ONE UNIFIED with mobile first experience PLATFORM
Slide 19: UK prediction markets
1 BROADEN AND ENRICH OUR PROPOSITIONS UK PREDICTION MARKETS CLEAR EVIDENCE OF CUSTOMER DEMAND INITIAL • The appetite is here: 84% • UK demand going offshore: LAUNCH of active UK investors find c.2 million UK visits to offshore Launch in Q4 2026, offering prediction markets appealing 1 platforms in A
Slide 20: Broadened proposition fosters cross sell and multi-product usage
1 BROADEN AND ENRICH OUR PROPOSITIONS OUR BROADENED PROPOSITION FOSTERS CROSS SELL AND MULTI-PRODUCT USAGE, INCREASING CUSTOMER VALUE UK playbook deep dive WE’RE GROWING MULTI- THESE CUSTOMERS ARE HIGHER PRODUCT CUSTOMERS VALUE AND STICKIER ARPU FOR MULTI VS. 12 - MONTH RETENTION FIRST TRADES ON A 1
Slide 21: Product priorities
1 BROADEN AND ENRICH OUR PROPOSITIONS PRODUCT PRIORITIES INTERNATIONAL • Roll -out of our Unified ENRICH • Enhanced tooling for ROLLOUT Proposition across all THE USER customers to support IG Consumer regions EXPERIENCE portfolio reviews and • Decommissioning investment decisions legacy IG apps • Ex
Slide 22: Three priorities for the next phase of growth
THREE PRIORITIES TO DELIVER THE NEXT PHASE OF GROWTH 1 2 3 BROADEN AND ENRICH OUR PROPOSITIONS INVEST IN OUR BRAND ENHANCE EFFICIENCY • Deepen product proposition • Broaden reach • Refreshed organisational model • International rollout of • Strengthen perception • Improved digital servicing Unified
Slide 23: We are scaling spend with conviction
2 INVEST IN OUR BRAND WE ARE SCALING SPEND WITH CONVICTION OUTSTANDING UNIT ECONOMICS1 GIVE US THE CONFIDENCE TO SCALE SPEND RAPID MARKETING PAYBACK IG CONSUMER Increasing marketing spend to accelerate growth 3 c.6 MONTHS (IG Consumer m arketing spend – % of total revenue) 16% STRONG RETURNS ON MARK
Slide 24: Sharpened acquisition capability
2 INVEST IN OUR BRAND WE HAVE SHARPENED OUR ACQUISITION CAPABILITY Broadened funnel of demand Capturing demand when it shows up Converting the right customers • National partnerships and • Demand -led marginal spend by channel, • Personalised and automated landing disruptive creative product and mar
Slide 25: Cultivating a bold and distinctive brand image
2 INVEST IN OUR BRAND WE ARE CULTIVATING A BOLD AND DISTINCTIVE BRAND IMAGE CUT THROUGH SHAPE NATIONAL REACH BROADER THE NOISE CONVERSATIONS AUDIENCES 25
Slide 26: Clear evidence of progress
2 INVEST IN OUR BRAND THERE IS CLEAR EVIDENCE OF PROGRESS UK proof points Overall IG Consumer results GROWTH IN UK BRAND SEARCH VOLUMES +26% GROWTH IN FIRST TRADES 2025 YTD VS 2026 YTD 2 GROWTH IN UK BRAND AWARENESS1 +29% DEC 2025 VS SEP 2026 3 +81% 2025 YTD VS 2026 YTD 2 With a 6-month blended payb
Slide 27: Three priorities for the next phase of growth
THREE PRIORITIES TO DELIVER THE NEXT PHASE OF GROWTH 1 2 3 BROADEN AND ENRICH OUR PROPOSITIONS INVEST IN OUR BRAND ENHANCE EFFICIENCY • Deepen product proposition • Broaden reach • Refreshed organisational model • International rollout of • Strengthen perception • Improved digital servicing Unified
Slide 28: Sharpened value proposition to improve pricing efficiency
3 ENHANCE EFFICIENCY WE HAVE SHARPENED OUR VALUE PROPOSITION TO IMPROVE PRICING EFFICIENCY Customer income per £1m % customers with positive EXAMPLE INITIATIVES notional traded 1 value for money perception 2 Intelligent spreads DYNAMIC PRICING to match pricing with +11% +12ppt market movements £93
Slide 29: Driving key efficiencies to fund growth
3 ENHANCE EFFICIENCY WE ARE DRIVING KEY EFFICIENCIES TO FUND THE NEXT PHASE OF GROWTH KEY PROGRESS OPERATING MODEL OPERATIONS TECHNOLOGY • Latest simplification • 72% of digital • AI deployment KEY PROOF POINTS targets ~30% reduction customer queries delivered 8x gain in in IG Consumer deflected 1
Slide 30: Hiring top-tier talent
HIRING TOP-TIER TALENT IG Group Uber s. Klarna deliveroo Grao = amazon) *7\W/SeC Starlin aSOS @ Bank g & GEMINI
Slide 31: Key messages
KEY MESSAGES 1 2 Demonstrated active Ready to refine and customer -led multi -product roll out our playbook growth in our core market across IG Consumer 3 4 Future growth underpinned by Meaningful opportunity outstanding unit economics to self -fund growth through efficiency 31
Slide 32: IG Securities
IG SECURITIES 32
Slide 33: Introducing IG Securities
INTRODUCING IG SECURITIES IG's trading, Prime and technology businesses, working as one TRADING PRIME The scale and breadth of Gives IG's large, active base RETAIL our retail flow gives Prime INSTITUTIONAL IG’s institutional offering of retail customers a price deep, diversified liquidity, Gives hed
Slide 34: Market making at IG
1 TRADING MARKET MAKING AT IG Every customer trade needs a price, and every position needs managing CUSTOMER 1 2 3 OUTCOME: TRADES PRICING RISK HEDGING OTC NET MANAGEMENT TRADING REVENUE Customers can trade We compete on the Customer positions offset. Where we choose not The gross OTC customer with
Slide 35: Enhancing our market making capabilities
1 TRADING ENHANCING OUR MARKET MAKING CAPABILITIES WHERE WE WERE WHERE WE ARE WHERE WE’RE BEFORE JULY 2025 TODAY GOING Pricing O ne price regardless of trade size Price in size allows pricing to scale Sharper, ultra -low latency pricing with trade size; dynamic pricing flexes spreads with market con
Slide 36: Long term OTC RtV performance
1 TRADING LONG TERM OTC RTV PERFORMANCE 83% 80% 80% 76% 79% Since enhanced risk 75% management measures 75% introduced at end H1 2025 74% 75% 74% 73% 69% 75% 2026 YTD through end Q3 75% Average from 2018 to H1 2025 2018 2019 2020 2021 2022 2023 2024 2025 2026 YTD OTC RtV (return to volume) represent
Slide 37: What's changed from July 2025
1 TRADING WHAT’S CHANGED FROM JULY 2025 Quarterly OTC RtV outcomes – before vs after the July 2025 strategy change 1 WHAT THE DISTRIBUTION TELLS US 75% 80% Distribution from Jan 2018 to Jun 2025 • Enhanced risk management Distribution from Jul 2025 to Sep 2026 measures have delivered OTC RtV of 80%
Slide 38: Q3 2026 spotlight
1 TRADING Q3 2026 SPOTLIGHT Implied equity market volatility was generally low The Nasdaq traded in a tight range with sharp reversals in Q3 2026, creating fewer trading opportunities in Q3 2026 – among the hardest conditions for our for our customers and providing an RtV headwind strategy to perfor
Slide 39: Our technology priorities
2 PLATFORM TECHNOLOGY OUR TECHNOLOGY PRIORITIES Three programmes underway give trading the stability, speed and foundations to price, manage and hedge risk in more ways MODERNISATION & AI TRADING SYSTEM UPLIFT MIGRATION TO CLOUD Simplify and accelerate Faster and richer Build and scale • Modernising
Slide 40: Prime: building IG's institutional business
3 PRIME PRIME: BUILDING IG’S INSTITUTIONAL BUSINESS IG Prime is a provider of trading services and liquidity to B2B2C partners, hedge funds and family offices WHERE WE ARE TODAY WHERE WE’RE GOING Institutional total revenue 2023 v 2026 LTM (£m) Liquidity and trading The established core of Deepen: P
Slide 41: The operating model and talent to deliver it
THE OPERATING MODEL AND TALENT TO DELIVER IT Traders, quants and engineers, building as one team Getting new pricing signals from research into production faster, so 1 2 improvements reach our pricing SPECIALIST TRADING QUANTITATIVE sooner EXPERTISE RESEARCH Four dedicated asset -class desks, with A
Slide 42: Key messages
KEY MESSAGES 1 2 IG Securities prices and Enhanced risk management manages risk on IG’s measures introduced at end customer flow, alongside H1 2025 outperforming Prime and the Group’s our long -run average platform technology 3 4 Looking forward, with sharper Prime extends our reach into a pricing,
Slide 43: tastytrade
TASTYTRADE 43
Slide 44: Profitable growth in an expanding market
PROFITABLE GROWTH IN AN EXPANDING MARKET ACCELERATING GROWTH STEADY REVENUE GROWTH STRONG TASTYTRADE UNIT IN THE MARKET AT TASTYTRADE ECONOMICS US options contracts, bn 1 tastytrade total revenue, $m 2 7 month +77% +92% CAC payback 3 17.5 349 328 15.2 256 297 3.2x 12.2 36 -month LTV -to-CAC 3 11.1 9
Slide 45: Room to grow with younger, mobile and multi-product customers
ROOM TO GROW WITH YOUNGER, MOBILE AND MULTI-PRODUCT CUSTOMERS YOUNGER MOBILE MULTI-PRODUCT Options traders under age 35 vs Trade on mobile vs tastytrade 1,3 Products traded per tastytrade tastytrade 1,2 customer 4 3.4 46% 39% 2.5 29% 19% OTHER TASTYTRADE US MARKET (EST.) TASTYTRADE US MARKET (EST.)
Slide 46: Broadening our reach, built on our core
BROADENING OUR REACH, BUILT ON OUR CORE From a niche options platform for expert traders to an accessible, sophisticated platform for every trader WHAT TASTYTRADE IS BUILDING WHAT IT UNLOCKS Wider top of funnel with more AI-NATIVE PRODUCT REFRESHED efficient conversion MOBILE APP BREADTH BRAND AND C
Slide 47: A new kind of team to lead tastytrade
WE’VE BUILT A NEW KIND OF TEAM TO LEAD TASTYTRADE GROWTH-FIRST BUILDERS CORE BROKERAGE OPERATORS Scaled consumer tech and fintech to millions of users Operated trading, clearing and markets at leading brokerages 47
Slide 48: Tastylive results are early proof
TASTYLIVE'S RESULTS ARE EARLY PROOF WE CAN WIN WITH A WIDER AUDIENCE TASTYLIVE BEFORE TASTYLIVE TODAY CATEGORY-LEADING FINANCIAL NETWORK ONE VOICE, COLLABORATIVE, ONE WAY DIVERSE TO TRADE VIEWPOINTS, MANY WAYS TO TRADE On -demand views Social engagements New audiences DIVERSE VIEWPOINTS (Non -subscr
Slide 49: Key messages
KEY MESSAGES 1 2 tastytrade built a profitable The next generation of traders niche primarily in the US is AI -native, mobile -first and options market multi -product 3 4 We are building a growth - We are unlocking upside oriented evolution of our potential in this fast -growing product to meet the
Slide 50: Financials
FINANCIALS 50
Slide 51: Clear financial objectives
CLEAR FINANCIAL OBJECTIVES 1 2 3 STRONG, DIVERSE EFFICIENCY AND DISCIPLINED REVENUE GROWTH PROFITABILITY CAPITAL ALLOCATION • Diversify revenue • Lower cost to serve • Investment grade credit rating • Increase exposure • Invest in product to secular growth and marketing • Progressive dividend per sh
Slide 52: More diverse revenue from organic growth and M&A
STRONG, DIVERSE REVENUE GROWTH MORE DIVERSE REVENUE FROM ORGANIC GROWTH AND M&A Total revenue ( £m ) 2023 IG total revenue: 2026 Q3 LTM pro forma total revenue1 : Organic total revenue Organic total +7% 2023 – 2026 LTM CAGR: revenue CAGR + 6% +9% o/w net trading revenue CAGR 1,573 2023 – 2026 LTM 7%
Slide 53: High-performance culture driving down cost to serve
EFFICIENCY AND PROFITABILITY HIGH-PERFORMANCE CULTURE DRIVING DOWN COST TO SERVE Fewer people, stronger growth Lowering fixed cost to serve 1 - 15% - 24% (average headcount) (£ per funded customer) Change in H1 2026 vs 2023, reported and organic respectively 2,754 2,551 2,376 2,349 2,754 818 2,551 7
Slide 54: Efficiency savings funding higher marketing spend
EFFICIENCY AND PROFITABILITY EFFICIENCY SAVINGS FUNDING HIGHER MARKETING SPEND AT ATTRACTIVE RETURNS 1 Marketing spend – % of total revenue (organic) 2 Operating costs - % of total revenue (organic) H1 2026: 36 -month LTV:CAC = 4:1 3 57% -3ppt 16% +3ppt 55% -2ppt 11% 9% 8% Fixed 2024 2025 H1 2026 PE
Slide 55: Refreshed capital allocation framework
DISCIPLINED CAPITAL ALLOCATION REFRESHED CAPITAL ALLOCATION FRAMEWORK 1 MAINTAIN A STRONG • Committed to an investment grade credit rating BALANCE SHEET 2 REGULAR • Progressive ordinary dividend per share DISTRIBUTIONS • Disciplined M&A to accelerate growth 3 INORGANIC • ROIC above WACC in years thr
Slide 56: Redomicile aligns with international footprint
DISCIPLINED CAPITAL ALLOCATION REDOMICILE ALIGNS WITH OUR INTERNATIONAL FOOTPRINT AND INCREASES FINANCIAL FLEXIBILITY Group structure after redomicile Debt issued by TopCo , with an investment -grade credit rating Redomicile on track to complete in late 2026 or early 2027 GROSS DEBT / EBITDA 2 IG T
Slide 57: 2026 and medium-term guidance
DISCIPLINED CAPITAL ALLOCATION 2026 AND MEDIUM-TERM GUIDANCE 2026 GUIDANCE MEDIUM TERM GUIDANCE, OVER TIME TOTAL REVENUE GROWTH ORGANIC TOTAL REVENUE GROWTH GROUP EBITDA MARGIN MID-SINGLE- 10%+ CAGR MID-40s % DIGIT % Year -on-year growth From a 2025 base of £1,100m, Excluding Underdog in total reven
Slide 58: Clear financial objectives
CLEAR FINANCIAL OBJECTIVES 1 2 3 STRONG, DIVERSE EFFICIENCY AND DISCIPLINED REVENUE GROWTH PROFITABILITY CAPITAL ALLOCATION • Diversify revenue • Lower cost to serve • Investment grade credit rating • Increase exposure • Invest in product to secular growth and marketing • Progressive dividend per sh
Slide 59: Key takeaways
KEY TAKEAWAYS IG CONSUMER IG SECURITIES TASTYTRADE UNDERDOG Scale UK playbook Convert more OTC Grow from a niche Win share in US across IG Consumer, flow to revenue and options platform fantasy sports, funded by strong grow institutional into a broader US prediction markets unit economics and offeri
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Slide 61: Appendix
APPENDIX 61
Slide 62: Presenter profiles
PRESENTER PROFILES BREON CLIFFORD MICHAEL ANDY MICHAEL CORCORAN ABRAHAMS HEALY BIGGS VAUGHAN Chief Executive Officer Chief Financial Officer CEO, IG Consumer CEO, IG Securities CEO, tastytrade (CEO) (CFO) • Joined January 2024 • Joined December 2024 • Joined IG January 2025 • Joined IG April 202