Deutsche Boerse Ag · XETR:DB1

Deutsche Boerse — Deutsche Börse Group — FY2015 Earnings Presentation

22 slides from Deutsche Boerse's earnings presentation, Feb 18, 2016

1. Slide 1: Q4 and FY/2015 Preliminary Results

   Q4 and FY/2015 Preliminary Results Analyst and Investor Conference Call 18 February 2016

2. Slide 2: Highlights FY/2015 Preliminary Results

   Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 1 Highlights FY/2015 Preliminary Results Net revenue Earnings per share1 Dividend per share €m € € +16% +14% +7% 2,367 4.14 2.25 2.10 2,048 3.63 2014 2015 2014 2015 2014 2015 (proposal) 1) Adjusted for exceptional items

3. Slide 3: “Accelerate” – Key Objectives Of Growth Programme

   Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 2 “Accelerate” – Key Objectives Of Growth Programme 1 Move towards client centric, innovative, Culture / people / organization high performance culture / organization and foster entrepreneurship 2 Performance measurement / Meas

4. Slide 4: “Accelerate” – Substantial Implementation Progress

   Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 3 “Accelerate” – Substantial Implementation Progress Progress 1  New Executive Board responsibilities and  Group Management Committee established Culture / people / divisional set-up  Streamlining of leadership structure and

5. Slide 5: FY/2015 – Group Financials

   Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 4 FY/2015 – Group Financials Net revenue EBIT1 Earnings per share1 €m €m € +16% +14% 2,367 4.14 2,048 3.63 +14% 1,124 988 2014 2015 2014 2015 2014 2015 1) Adjusted for exceptional items

6. Slide 6: Q4/2015 – Group Financials

   Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 5 Q4/2015 – Group Financials Net revenue, EBIT and EPS development €m Net revenue EBIT adjusted1 EPS adjusted (€)1 Revenue -3%  Net revenue: €589.8m (+8% y-o-y) +8% 0.88  Net interest income: €14.2m (+238% y-o-y); 0.85 increa

7. Slide 7: Q4/2015 – Eurex

   Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 6 Q4/2015 – Eurex Business activity Q4/2015 y-o-y Net revenue Financial derivatives (traded contracts in m) €m US Options 151.5 -3% Equity 63.0 -4% 268 251 259 248 30 Others2 Fixed income 121.7 11% 25 222 21 29 6 5 Repo Index 1

8. Slide 8: Q4/2015 – Xetra

   Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 7 Q4/2015 – Xetra Business activity Q4/2015 y-o-y Net revenue Order book volume in €bn1 €m -2% +3% 49 48 354 365 45 43 7 42 8 7 9 7 Others2 9 9 9 8 8 CCP 33 31 27 30 27 Trading Q4/14 Q4/15 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 1) Xetra

9. Slide 9: Q4/2015 – Clearstream

   Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 8 Q4/2015 – Clearstream Business activity Q4/2015 y-o-y Net revenue €m +1% Assets under €13.4tr 8% 191 custody 188 184 180 183 32 30 29 Settlement 32 30 Others2 33.1m 0% 9 9 transactions 4 8 8 NII 17 17 17 16 17 GSF GSF €554.5b

10. Slide 10: Q4/2015 – Market Data + Services

    Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 9 Q4/2015 – Market Data + Services Business activity Q4/2015 y-o-y Net revenue Information €m  Derivatives / cash market data, indicators, news -2% Index 112 11 104  Calculation / distribution of indices through STOXX: 99 99

11. Slide 11: FY/2015 – Growth Areas Have Developed Favorably

    Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 10 FY/2015 – Growth Areas Have Developed Favorably Eurex – Power and gas (EEX) Eurex – FX products (360T) TWh1 4,086 Revenue, €m2 59 65 Gas 1,025 +10% Power +91% 2,138 568 3,061 1,570 2014 2015 2014 2015 Clearstream – Investmen

12. Slide 12: FY/2015 – Executive Board Proposes Increase Of 2015 Dividend To €2.25

    Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 11 FY/2015 – Executive Board Of Deutsche Börse AG Proposes Increase Of 2015 Dividend To €2.25 Dividend policy Dividend per share €  In general, Deutsche Börse Group +7% 2.10 2.25 aims to distribute 40 to 60 per cent of the adj

13. Slide 13: “Accelerate” – Transparency On Net Revenue Upside

    Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 12 “Accelerate” – Transparency On Net Revenue Upside From Existing Structural And Cyclical Opportunities Mid-term net revenue opportunities €m Structural opportunities Cyclical opportunities (400-600) (100-300) 2,800- 50-200 3,

14. Slide 14: “Accelerate” – Principles To Manage Costs

    Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 13 “Accelerate” – Principles To Manage Costs 1 Ensure scalability of business model  Cost base will be proactively managed in a way that …  … mid-single digit net revenue growth will result in flat costs, and …  … double-dig

15. Slide 15: “Accelerate” – Structural Measures And Continuous Improvement

    Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 14 “Accelerate” – Structural Measures And Continuous Improvement Process On Track To Achieve Targeted Cost Savings €m Structural personnel Structural non- Continuous Old efficiency Total targeted cost measures personnel measure

16. Slide 16: “Accelerate” – Net Income Growth Of 10 To 15 Per Cent Expected In 2016

    Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 15 “Accelerate” – Net Income Growth Of 10 To 15 Per Cent Expected In 2016 Reconciliation operating cost development 2014 to 2016 Guidance 2016 €m 3% underlying cost growth in 2015, which compares to 8% Net revenue underlying ne

17. Slide 17: “Accelerate” – Vision

    Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 16 “Accelerate” – Vision The Global market infrastructure of choice High growth / innovation leader Key elements Open to JVs & partnerships (sell- and buy-side) of vision Attract best talent internationally # 1 or 2 in every bu

18. Slide 18: Appendix

    Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 17 Appendix

19. Slide 19: Income Statement – Group Level Adjusted

    Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 18 Income Statement – Group Level Adjusted Quarter ended Quarter ended 31 December 2015 31 December 2014 Sales revenue 683.9 627.0 Net interest income from banking business 14.2 4.2 Other operating income 8.4 11.2 Total revenue

20. Slide 20: Income Statement – Segmental Level

    Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 19 Income Statement – Segmental Level Eurex Xetra Clearstream Market Data + Services Q4/2015 Q4/2014 Q4/2015 Q4/2014 Q4/2015 Q4/2014 Q4/2015 Q4/2014 Sales revenue1 315.0 266.8 48.7 47.8 223.3 217.3 107.6 108.2 Net interest inco

21. Slide 21: Financial Calendar And Contact Details

    Q4 and FY/2015 Preliminary Results 18 February 2016 Deutsche Börse Group 20 Financial Calendar And Contact Details Financial calendar Contact details 27 Apr 2016 Interim report Q1/2016 Deutsche Börse AG 28 Apr 2016 Conference call Q1/2016 Investor Relations 11 May 2016 Annual General Meeting Mergent

22. Slide 22: Disclaimer

    Q4 and FY/2015 Preliminary Results Disclaimer Cautionary note with regard to forward-looking statements: This document contains forward-looking statements and statements of future expectations that reflect management's current views and assumptions with respect to future events. Such statements are

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