Slide 1: Intercontinental Exchange 3Q17 Earnings Supplement
Intercontinental Exchange 3Q17 Earnings an = “gg Supplement November 2, 2017 i . aN
Slide 2: Forward-Looking Statement and Legends
Forward-Looking Statement and Legends CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS This presentation may contain “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements regarding ICE’s business that are
Slide 3: ICE Third Quarter 2017 Earnings Call Participants
ICE Third Quarter 2017 Earnings Call Participants Participants: Jeff Sprecher Chuck Vice Scott Hill Chairman & CEO President & COO Chief Financial Officer Chairman, NYSE Investor Relations: • Warren Gardiner, CFA Vice President, Investor Relations warren.gardiner@theice.com • Mary Caroline O'Neal, C
Slide 4: Third Quarter 2017 Highlights
Third Quarter 2017 Highlights in millions except per share amounts INCOME STATEMENT Solid revenue and earnings growth HIGHLIGHTS 3Q17 3Q16 % Chg Data revenue Futures Net Revenues $1,143 $1,078 6% (1) Net Revenues at CC(1) 6% +6% y/y, CC ADV +15% y/y Adj. Op Expenses $476 $484 (2)% OI +14% y/y Adj. O
Slide 5: Increasing Capital Return
Increasing Capital Return ▪ Year-to-date operating cash flows of $1.4B; strong contribution of U.S. cash flow from the NYSE ▪ $1.15 billion returned to shareholders through buybacks and dividends YTD October ▪ $709MM of shares repurchased through 9/30/17; additional $83MM repurchased in October ▪ $3
Slide 6: Third Quarter 2017 Data & Listings Segment
Third Quarter 2017 Data & Listings Segment ▪ Data revenue +6% y/y in constant currency(1); +5% y/y organic, constant currency(1)(2) ▪ 3Q17 adj. operating margin +5 pts y/y; adj. operating income +14% y/y ▪ NYSE remains #1 in listings globally with over $23B in proceeds raised via 65 IPOs through 3Q1
Slide 7: Growth and Opportunity Across Global Data Demand
Growth and Opportunity Across Global Data Demand ▪ Data revenue expected to grow 6% in CC(1) for FY 2017; continued confidence in long-term growth objective ▪ Annual subscription value, or ASV, +6%(2) y/y entering 4Q AMERICAS(3) EMEA APAC 74% of 3Q17 data revenue 22% of 3Q17 data revenue 4% of 3Q17
Slide 8: Third Quarter 2017 Trading & Clearing Segment
Third Quarter 2017 Trading & Clearing Segment ▪ Revenue +8% y/y in constant currency(1)(2) ▪ Futures ADV +15% y/y, Energy +13% y/y, EU interest rates +35% y/y; Open Interest (OI) +14% y/y ▪ Record daily volumes for MSCI; Record OI in Gasoil ▪ Adj. operating margin expanded to 62%; adj. operating inc
Slide 9: Strong Futures Volume and Open Interest Growth
Strong Futures Volume and Open Interest Growth All figures in thousands ICE Futures Total ADV & OI ADV Global Oil ADV & OI OI ADV OI 5,400 70,000 1,800 12,000 ADV 52,500 ADV 1,350 3,600 +15% y/y +22% y/y 8,000 35,000 900 OI OI 1,800 +14% y/y +6% y/y 4,000 17,500 450 0 0 0 0 3Q16 3Q17 3Q16 3Q17 Total
Slide 10: Leading Global Market Infrastructure Provider
Leading Global Market Infrastructure Provider Enhancing content and distribution through strategic investments BondPoint ▪ Expands fixed income market BofAML Indices solutions to all-to-all platform Data ▪ ICE now the #2 fixed income index ▪ Engage new client segments provider with over $1 trillion
Slide 11: Comprehensive Index Solutions
Comprehensive Index Solutions Building a differentiated and scaled index platform ▪ Over $1 trillion of assets are benchmarked to ICE BofAML Indices ▪ ICE BofAML is the second largest fixed income index provider; established 1973 ▪ Offering solutions for both index licensing and self-indexing ▪ ICE
Slide 12: Expanding Distribution to Growing Customer Base
Expanding Distribution to Growing Customer Base BondPoint's all-to-all platform will expand ICE's fixed income solutions ▪ Opportunity to engage with expanded customer base ▪ Will leverage ICE's leading pricing and reference data, analytics, technology and distribution ▪ Opportunity for enhanced val
Slide 13: A Leading Global Energy Marketplace
A Leading Global Energy Marketplace Breadth of products positions ICE as the "go-to" venue for global energy risk management ▪ Brent 3Q17 ADV +20% y/y and on track for 21st record volume year ▪ Brent curve in backwardation, WTI in contango ▪ Record refined oil OI +13% y/y, ADV +26% y/y ▪ NGX and Sho
Slide 14: Consistent Track Record of Growth
Consistent Track Record of Growth YTD September Highlights Net revenues +5% y/y(2) Adjusted EPS (1) $2.78 Data revenue +7% y/y(2) (1) ADV +15% y/y, OI +14% y/y $2.43 (1) Adj. EPS +7% y/y (1) 9% $2.22 G R1 $2.07 (1) A ' 16C (1) - $1.92 '06 (1) $1.68 $1.50 $1.38 $1.07 $0.83 $0.85 $0.68 $0.48 2006 2007
Slide 15: Appendix
APPENDIX Intercontinental Exchange 15
Slide 16: Impact of Acquisitions and Divestitures
Impact of Acquisitions and Divestitures ▪ Figures represent TTM as of 6/30/2017 and are for illustrative purposes only ▪ Further guidance will be provided upon the closing of BondPoint, NGX and Shorcan $s in millions ICE Acq & Div Add: BP, Reconciliation NGX & Less: (TTM as of 6/30/2017) BAML Traypo
Slide 17: Third Quarter & YTD 2017 GAAP Results
Third Quarter & YTD 2017 GAAP Results INCOME STATEMENT HIGHLIGHTS GAAP GAAP GAAP YTD GAAP YTD (In millions except per share amounts) 3Q17 3Q16 % Chg Sept '17 Sept '16 % Chg Net revenues $1,143 $1,078 6% $3,485 $3,361 4% Operating Expenses $547 $604 (10)% $1,698 $1,752 (3)% Operating Income $596 $474
Slide 18: Third Quarter 2017 Balance Sheet
Third Quarter 2017 Balance Sheet In millions 09/30/2017 12/31/2016 CHANGE Assets Unrestricted Cash $419 $407 $12 ▪ $419MM unrestricted cash Other Current Assets 54,820 56,726 (1,906) ▪ Total debt of $6.1B; Adj. Debt-to- Current Assets 55,239 57,133 (1,894) EBITDA(1) of 2.1x PPE (net) 1,192 1,129 63
Slide 19: Adjusted Net Income Attributable to ICE and EPS
Adjusted Net Income Attributable to ICE and EPS 9 Months 9 Months 3 Months 3 Months Ended Ended In millions (except per share amounts) Ended 9/30/17 Ended 9/30/16 9/30/2017 9/30/2016 Net income attributable to ICE $369 $344 $1,289 $1,070 Add: Interactive Data and NYSE transaction and integration cos
Slide 20: Adjusted Net Income Attributable to ICE and EPS
Adjusted Net Income Attributable to ICE and EPS 12 Months 12 Months 12 Months 12 Months In millions (except per share amounts) Ended 12/31/16 Ended 12/31/15 Ended 12/31/14 Ended 12/31/13 Net income attributable to ICE $1,422 $1,274 $981 $254 Add: Interactive Data and NYSE transaction and integration
Slide 21: Adjusted Operating Income, Operating Margin & Operating Expense Reconciliation
Adjusted Operating Income, Operating Margin & Operating Expense Reconciliation Trading and Data and Listings In millions Clearing Segment Segment Consolidated Three Months Three Months Three Months Ended Sept. 30, Ended Sept. 30, Ended Sept. 30, 2017 2016 2017 2016 2017 2016 Total revenues, less tra
Slide 22: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Trailing 12 Months In millions Ended 9/30/17 Adjusted net income $1,747 Add: Income tax expense 708 Add: Income tax expense adjustment on Non-GAAP Items 53 Add: Interest expense 181 Add: Depreciation and amortization(1) 270 Adjusted EBITDA from Continuing Ops $2,959 De
Slide 23: Adjusted Effective Tax Rate Reconciliation
Adjusted Effective Tax Rate Reconciliation 3 Months Ended 3 Months Ended In millions 9/30/17 9/30/16 Income before income taxes $560 $443 Income tax expense 185 93 Effective tax rate 33% 21% Income before income taxes $560 $443 Add: Interactive Data and NYSE transaction and integration costs 3 7 Add