Slide 1: Second quarter 2026 results
Diversified Resilient Dynamic Second quarter 2026 results August 12, 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking
Slide 3: Performance highlights
Performance highlights Ian Lowitt, CEO 3
Slide 4: Delivered strong performance in key financial metrics
Delivered strong performance in key financial metrics 39% 43% Revenue ($m) 500 696 967 1,388 Q2 2025 Q2 2026 H1 2025 H1 2026 Margin 21.3% 23.8% Margin 21.0% 23.0% Before Tax1 ($m) Adjusted Profit 56% 57% 106 166 203 319 Q2 2025 Q2 2026 H1 2025 H1 2026 Adj. RoE1 31.4% 37.8% Adj. RoE1 30.7% 37.5% Equi
Slide 5: Demonstrating earnings resilience through different market environments
Demonstrating earnings resilience through different market environments Marex quarterly Adjusted PBT1 ($m) Exchange volumes2 +56% YoY +9% QoQ +1% YoY -17% QoQ 152.7 165.9 106.4 100.5 114.9 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Volatility: CBOE Market Volatil
Slide 6: Delivering consistent structural growth through market cycles
Delivering consistent structural growth through market cycles Quarterly Adjusted PBT1 ($m) Strategic takeaways Diversified business model 166 Growth supported by a diversified platform across products, business lines 153 and geographies 115 106 96 101 92 81 81 Structural growth 75 68 Sufficient stru
Slide 7: Resulting in high quality and reliable earnings
Resulting in high quality and reliable earnings Distribution of average monthly Adjusted PBT1 Distribution of daily Adjusted PBT1 Adj. # of days 2023 2024 2025 TTM June 2026 2.2 4.1 4.3 5.2 6.2 3.2 Sharpe Ratio2 Average daily Adj. PBT($) +/- 13.8 2023 916k 2024 1.3m 2025 1.7m TTM June 2026 2.1m +/-
Slide 8: Success with larger clients is driving significant growth
Success with larger clients is driving significant growth Revenue by client size band Top-tier client revenue growth Active clients (>$25k)1 Revenue by Average revenue Revenue from $5m+ clients client size ($m) per client ($m) increased 59% Client size FY 2025 H1 2026 % YoY FY 2025 H1 2026 % YoY FY
Slide 9: Disciplined acquisitions delivering significant growth post integration
Disciplined acquisitions delivering significant growth post integration 1 2 M&A in 2026 Abu Dhabi based UK/Europe-based FX and UK cash equities Completed clearing firm payments firm market maker M&A in 20253 Expanded clearing presence Expanded FX franchise Expanded cash equities APAC clearing and ad
Slide 10: Market structure innovation continues to differentiate Marex with clients
Market structure innovation continues to differentiate Marex with clients Examples of recent initiatives Reinforcing Marex's position at the forefront of market structure innovation US Treasury Acceptance of USDC while creating client cross-margining stablecoin as collateral engagement opportunities
Slide 11: Financial performance
Financial performance Rob Irvin, CFO 11
Slide 12: Financial highlights: H1 and Q2 2026
Financial highlights: H1 and Q2 2026 Half year 2026: consistent strong growth ($m) Q2 2026 Q2 2025 % Change2 H1 2026 H1 2025 % Change2 Revenue 695.8 500.1 39% 1,388.1 967.4 43% Revenue Adjusted Profit Before Tax1 Front Office Costs (359.8) (272.2) 32% (734.1) (530.6) 38% $1,388m $319m Control and Su
Slide 13: Clearing - strong growth in client balances
Clearing - strong growth in client balances Quarterly performance H1 2026 performance Revenue ($m) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Revenue ($m) H1 2025 H1 2026 Net Commission Net Commission 72 66 70 88 72 139 161 Income Income Net Interest Net Interest 59 62 59 68 78 108 145 Income Income Ne
Slide 14: Agency and Execution - Prime Services continues to drive growth and margin expansion
Agency and Execution - Prime Services continues to drive growth and margin expansion Quarterly performance H1 2026 performance Revenue ($m) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Revenue ($m) H1 2025 H1 2026 Prime 61 57 87 74 120 Prime 114 194 FX 8 26 27 32 52 FX 14 83 Credit 19 16 15 11 12 Credit
Slide 15: Market Making - broad-based growth supported by client activity
Market Making - broad-based growth supported by client activity Quarterly performance H1 2026 performance Revenue ($m) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Revenue ($m) H1 2025 H1 2026 Metals 41 24 50 65 66 Metals 64 130 Ags 0 0 4 10 8 Ags 7 18 Energy 11 7 7 32 15 Energy 20 47 Securities 5 13 20
Slide 16: Hedging and Investment Solutions - continued growth reflecting strong client demand
Hedging and Investment Solutions - continued growth reflecting strong client demand and platform investment Quarterly performance H1 2026 performance Revenue ($m) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Revenue ($m) H1 2025 H1 2026 Hedging Hedging 20 23 23 36 34 34 69 Solutions Solutions Financial F
Slide 17: Net interest income and average balances
Net interest income and average balances NII and total average balances1 Q2 2026 vs. Q2 2025 NII movements Net Interest YoY H1 2025 H1 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Income ($m)4 Q2 2025 Q2 2026 Change Drivers Avg. Fed • Avg. Fed Funds rate: -70 bps 4.3% 3.6% 4.3% 4.3% 3.9% 3.6% 3.6% I
Slide 18: Vast majority of balance sheet driven by client activity
Vast majority of balance sheet driven by client activity Total1 Client Activities (Jun-26) Residual Dec-25 Client Repurchase Period End ($bn) (restated) Jun-26 Balances Agreements Securities Derivatives Jun-26 Driven by client activity Cash and Liquid Assets2 7.0 9.1 5.3 3.8 ~80% of the balance shee
Slide 19: Prudent approach to capital and liquidity underpins Investment Grade ratings
Prudent approach to capital and liquidity underpins Investment Grade ratings Capital Resources vs. Capital Requirement ($m) Total Funding Sources5 ($bn) RAC ratio1 Liquidity 10.7% 12.4% 1.0 1.8 Headroom6 Group Capital Ratio2 230% 287% 8.1 1,501 6.2 927 523 403 Dec-25 Jun-26 Dec-25 Jun-26 Capital Req
Slide 20: Client-driven business model and robust risk management
Client-driven business model and robust risk management Market Making daily revenue distribution H1 2026 Track record of low realized group credit losses Number of days by trading profitability $0 H1 2026 daily average 68 VaR1 $5.8m As a % of revenue 0.1% 0.3% 0.0% 0.0% 13 10 10 7 5 8 ($m) 3 <($1.0m
Slide 21: Conclusion
Conclusion Ian Lowitt, CEO 21
Slide 22: Q&A
MAREX| Q&A
Slide 23: Appendix
MAREX| Appendix
Slide 24: Profit Before Tax to Adjusted Profit Before Tax Reconciliation
Profit Before Tax to Adjusted Profit Before Tax Reconciliation 3 months ended 3 months ended 6 months ended 6 months ended ($m) June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Profit After Tax from Continuing Operations 119.9 76.7 232.2 149.2 Taxation charge 38.3 26.9 75.8 52.4 Profit Before
Slide 25: Profit Before Tax to Adjusted Profit Before Tax Reconciliation
Profit Before Tax to Adjusted Profit Before Tax Reconciliation 12 months ended 12 months ended 12 months ended 12 months ended ($m) December 31, 2025 December 31, 2024 December 31, 2023 December 31, 2022 Profit After Tax from Continuing Operations 307.9 218.0 141.3 98.2 Taxation charge 103.7 77.8 55
Slide 26: Adjusted Sharpe Ratio (of Adjusted Profit Before Tax) Reconciliation
Adjusted Sharpe Ratio (of Adjusted Profit Before Tax) Reconciliation Q2 2025 Q2 2026 Average Monthly Profit After Tax ($m)2 22.0 35.5 Standard Deviation on Monthly Profit After Tax1 4.1 15.4 We define the Adjusted Sharpe ratio as the average of monthly Adjusted Profit Before Reported Sharpe Ratio 5.
Slide 27: Marex volumes data
Marex volumes data (million contracts) Q2 2026 Q2 2025 % change Q2 2026 TTM Q2 2025 TTM % change Clearing Market Volumes¹ 3,256 3,212 1% 12,945 12,247 6% Marex Revenue ($m) 161 139 16% 569 500 14% Marex Volumes 312 357 (13)% 1,320 1,247 6% Agency and Execution - Energy Marex Revenue ($m) 65 92 (29)%