Slide 1: Flow Traders Ltd. 1Q26 Trading Update
24 April 2026 Flow Traders Ltd. 1Q26 Trading Update
Slide 2: Disclaimer
Disclaimer This presentation is prepared by Flow Traders Ltd. and is for information purposes only and the material Forward-looking statements speak only as at the date at which they are made. Flow Traders expressly contained in this document is provided ‘as is’. It is not a recommendation to engage
Slide 3: 1Q 2026 Trading Update Snapshot
1Q 2026 Trading Update Snapshot Strong results due to increased market activity compared to a year ago ETP Value Traded (€bn) Total Value Traded (€bn) Total Income (€m) Summary Flow Traders Other Equity NTI Market FICC Other income Flow Traders’ ETP value traded increased by 27% y/y to €644bn in 2
Slide 4: Global ETP Market Continues to Grow in 1Q 2026
Global ETP Market Continues to Grow in 1Q 2026 ETP net fund inflows slowed down, however value traded continued to grow ETP Value Traded (€bn) Average Implied Volatility (VIX) 35 25,521 GENERAL MARKET DEVELOPMENTS 30 20,724 Market ETP valued traded in the 25 17,257 16,509 quarter increased by 23% q
Slide 5: Fixed Income and Crypto Market Dynamics
Fixed Income and Crypto Market Dynamics Crypto ETP value traded decreased vs. prior quarter, however long term structural trend remains in place TRACE Volumes ($bn) MOVE Index US Investment Grade US High Yield 4,070 140 BOND MARKET DEVELOPMENTS 3,438 3,447 948 120 3,115 3,212 3,212 Trading volumes
Slide 6: 1Q 2026 Regional Performance Overview
1Q 2026 Regional Performance Overview Market ETP Value Traded (€bn) Flow ETP Value Traded (€bn) Revenue (€m) 1Q26 Highlights +31% +28% +23% +21% +15% +10% 1,126 1,126 296 296 88 88 80 Europe 241 245 77 860 882 Europe: Maintained position as a leading liquidity provider in ETPs amidst increased mar
Slide 7: Structural Growth in Baseline NTI
Structural Growth in Baseline NTI Strong performance on the back of elevated VIX volatility levels NTI vs. Implied Market Volatility (VIX) EBITDA and EBITDA Margins 1,000 40 650 80 NTI (€m) 35 EBITDA (€m) 900 600 Average VIX 35 EBITDA Margin (%) 63% 70 550 800 30 500 60 52% 700 25 450 47% 45% 46% 60
Slide 8: Steady EBITDA Margins Due to Variable Compensation Philosophy
Steady EBITDA Margins Due to Variable Compensation Philosophy Fixed Operating Expenses (€m) EBITDA Margin (%) FTEs Employee expenses (fixed) Trading Technology Other Technology expenses Other expenses 46% 46% 46% +7% +10% 41% 635 656 56.1 56.1 619 622 52.4 607 50.8 166 166 160 169 174 27.4 27.4 25.7
Slide 9: Credit Facilities Support Continued Trading Capital Expansion
Credit Facilities Support Continued Trading Capital Expansion Utilized our $200 million private credit facility Trading Capital and Return on Average Trading Capital Shareholders’ Equity and Return on Average Equity Trading Capital (€m) Return on Average Trading Capital (%) Shareholders’ Equity (€m)
Slide 10: 2026 Capital Markets Day
2026 Capital Markets Day 23 June 2026 Flow Traders will host its 2026 Capital Markets Day on 23 June 2026 As indicated during the 4Q25 results Flow Traders will host their 2026 Capital Markets Day ahead of its AGM (26 June 2026). During the Capital Markets Day the Flow Traders leadership team wi
Slide 11: Q&A
Q&A FLOW B@TRADERS 1
Slide 12: Thank You
Thank You FLOW B@TRADERS