Slide 1: Diversified Resilient Dynamic
Diversified Resilient Dynamic March 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: Highly experienced management team
Highly experienced management team Ian Lowitt 13 Paolo Tonucci 8 32 Rob Irvin 3 CEO 36 Chief Strategist CFO 17 Ian joined Marex in November 2012 Paolo joined Marex in May 2018 as COO, Rob joined Marex in March 2023 as CFO. as CFO and became CEO in 2016. became CFO in 2020 and is currently He was pre
Slide 4: Investor feedback
Investor feedback “It is extremely rare to see a smallcap financials company that has a genuine source of sustainable competitive advantage. Most are timing plays, whereas Marex is set up to grow through the cycle.” Source: Long-only portfolio manager 4
Slide 5: Our interconnected platform provides clients access to global markets
Our interconnected platform provides our clients with access to energy, commodities and financial markets globally anagers & Other Asset M Market Participants Clearing Services 1 Key market connectivity to global exchanges es Agen ervic cy & S Ex ring ec u a Illustrative Exchanges 2 Agency & Executi
Slide 6: Four closely connected businesses delivering critical services to our clients
Four closely connected businesses delivering critical services to our clients Clearing Agency & Execution Market Making Hedging & Investment Solutions Acting as principal on behalf of our clients, Utilizing broad market connectivity to Acting as principal to provide direct liquidity Bespoke hedging
Slide 7: Our strategy and investment case remain unchanged since IPO
Our strategy and investment case remain unchanged since IPO… Large, growing market with high barriers to entry and declining competitive intensity Scalable platform providing critical services to growing client base Client-driven business model; prudent approach to capital and liquidity management D
Slide 8: Growth trends driving our markets
…but we have seen an improvement in several key elements Competitive Growth trends 1 2 environment driving our markets improving further Marex brand Successfully grown 3 4 recognition as a market share public company 8
Slide 9: Growth trends driving our markets
Growth trends driving our markets Accelerating growth in exchange contracts across Marex addressable markets Long-term secular drivers (# contracts, bn) 10% CAGR • Demand for cleared products and derivatives 14.8 • Increasing demand for energy and commodities 4% 13.7 9% CAGR CAGR 12.2 • Financial ma
Slide 10: Competitive environment improving further
Competitive environment improving further Investment & Commercial Small Independents Banks Barriers to entry • Increasing focus on their largest clients ✓ Depth of product knowledge and • Lacking global presence and narrow expertise across asset classes product coverage • Juniorization of client cov
Slide 11: Marex brand recognition as a public company
Marex brand recognition as a public company Clients People “Marex has been able to give me a level of service that I’m not “Being part of a larger financial organization provides us with getting from my clearing banks. They are willing to take an increased structure and a framework for growth, which
Slide 12: Delivered strong performance in key financial metrics
Delivered strong performance in key financial metrics 38% 27% Revenue ($m) 572 1,595 2,024 416 Q4 2024 Q4 2025 FY 2024 FY 2025 Margin 19.6% 20.1% Margin 20.1% 20.7% Before Tax1 ($m) Adjusted Profit 41% 30% 115 321 418 81 Q4 2024 Q4 2025 FY 2024 FY 2025 460 bps 260 bps Equity (%) Return on 23.4% 28.0
Slide 13: Focused on organic growth with track record of value-accretive acquisitions
Focused on organic growth with track record of value-accretive acquisitions Bolt-on M&A Scalable Growth Strategy Adjusted Profit Before Tax1 ($m) M&A3 $321 Organic2 $12 Prime brokerage & Clients outsourced trading $79 business M&A3 $230 Transformative $49 M&A Products Organic2 $59 M&A3 Organic2 $122
Slide 14: Disciplined acquisitions with limited capital usage
Disciplined acquisitions with limited capital usage Attractive M&A pipeline for the remainder of 2025 while remaining disciplined on our criteria ~150 Run rate impact Actual contribution PAT contribution ~35 ($m) ~10 2023 2024 2025 Capital consumed ~$50m ~$65m ~$150m (cumulative 2023-2025) Run-rate
Slide 15: Success with larger clients is driving significant growth
Success with larger clients is driving significant growth Revenue by client size band Active clients +19% YoY driven by both organic growth and Active clients (>$25k)1 Revenue by client size ($m) Average revenue per client ($m) acquisitions Client size bands 2024 2025 △ % YoY 2024 2025 △ % YoY 2024
Slide 16: High quality and reliable earnings
High quality and reliable earnings Distribution of average monthly Adjusted PBT1 Distribution of daily Adjusted PBT1 Adj. Sharpe # of days 2.2 4.1 4.3 5.2 6.2 Ratio2 2025 2024 +/- 5.6 1 Average has shifted right +/- 5.2 by ~400k +/- 4.5 Standard 2 Small tail Increasing number of larger 3 deviation (
Slide 17: Building a track record of sustainable profit growth as a public company
Building a track record of sustainable profit growth as a public company Consistent strong profit growth Adjusted PBT1 ($m) Delivered record profit, reflecting strong, broad-based performance across the +47% CAGR whole business +30% YoY Positioned to deliver ~10% organic profit growth through a rang
Slide 18: Financial Overview
MAREX! Financial Overview
Slide 19: Highly attractive financial profile
Highly attractive financial profile Diversified and high-quality revenue mix Margin expansion from scale and productivity 11 years of sequential Adjusted PBT growth1 Strong return on equity Well-capitalised with prudent liquidity, underpinned Disciplined capital allocation policy by conservative ris
Slide 20: Financial highlights: Q4 and full year 2025
Financial highlights: Q4 and full year 2025 ($m) Q4 2025 Q4 2024 % Change2 FY 2025 FY 2024 % Change2 Full year 2025: consistent strong growth Revenue 572.1 415.6 38 % 2,024.1 1,594.7 27 % Revenue Adjusted Profit Before Tax1 $2.0bn $418m Front Office Costs Control and Support Costs (316.3) (135.0) (2
Slide 21: Clearing - strong levels of client activity and onboarding of new clients
Clearing - strong levels of client activity and onboarding of new clients Quarterly performance FY 2025 performance Revenue ($m) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Revenue ($m) FY 2024 FY 2025 Net Commission Net Commission 66 68 72 66 70 263 275 Income Income Net Interest Net Interest 56 48 59
Slide 22: Agency and Execution - broad-based growth across asset class led by Prime
Agency and Execution - broad-based growth across asset class led by Prime Quarterly performance FY 2025 performance Revenue ($m) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Revenue ($m) FY 2024 FY 2025 Prime 31 53 61 57 87 Prime 84 258 FX 6 6 8 26 27 FX 14 66 Credit 13 14 19 16 15 Credit 55 65 Rates 25
Slide 23: Market Making - client activity driving growth, led by Metals and Securities
Market Making - client activity driving growth, led by Metals and Securities Quarterly performance FY 2025 performance Revenue ($m) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Revenue ($m) FY 2024 FY 2025 Metals 6 23 41 24 50 Metals 106 138 Ags 16 7 -0 0 4 Ags 34 12 Energy 13 9 11 7 7 Energy 33 34 Secur
Slide 24: Hedging and Investment Solutions - record quarter driven by client growth
Hedging and Investment Solutions - record quarter driven by client growth and product expansion Quarterly performance FY 2025 performance Revenue ($m) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Revenue ($m) FY 2024 FY 2025 Hedging Hedging 8 14 20 23 23 69 79 Solutions Solutions Financial Financial 32 3
Slide 25: Net interest income and average balances
Net interest income and average balances NII and total average balances1 Annual NII Movements FY 2024 FY 2025 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Net Interest YoY FY 2024 FY 2025 Drivers Income ($m)4 Change Avg. Fed 5.2% 4.2% 4.7% 4.3% 4.3% 4.3% 3.9% Funds rate • Avg. Fed Funds rate: -100 bps In
Slide 26: Scale benefits driving profit margin expansion over time
Scale benefits driving profit margin expansion over time Adjusted Profit Before Tax1 Margin expansion Margin drivers: gradual progression over time 15% 17% 18% 20% 21% 418 Continued profit growth driving economies of scale ($m) 321 Expansion of product capabilities and geographic reach 230 Business
Slide 27: Vast majority of balance sheet driven by client activity
Vast majority of balance sheet driven by client activity Total1 Client Activities (Dec-25) Residual Client Repurchase Settlement Period End ($bn) Dec-24 Dec-25 Securities Derivatives Dec-25 Balances Agreements Gross-up3 Driven by client activity Cash and Liquid Assets2 6.2 7.0 4.1 0.2 — — — 2.7 ~80%
Slide 28: Prudent approach to capital and liquidity underpins Investment Grade ratings
Prudent approach to capital and liquidity underpins Investment Grade ratings Regulatory Capital1 vs. Capital Requirement2 ($m) Total Funding Sources ($bn) Total Liquidity 234% 230% 1.1 1.0 Capital Headroom Ratio3 927 6.2 723 3.8 403 309 Dec-24 Dec-25 Dec-24 Dec-25 2 1 Capital Requirement Regulatory
Slide 29: Client-driven business model and robust risk management
Client-driven business model and robust risk management Market Making daily revenue distribution FY 2025 Track record of low realized group credit losses Number of days by trading profitability $0 60 56 FY 2025 daily average 50 VaR1 $3.8m As a % of revenue 27 28 21 0.2% 0.1% 0.3% 0.04% 8 3 ($m) <($1
Slide 30: Appendix
Appendix 30
Slide 31: Marex at a glance
Marex at a glance A diversified global financial services platform, providing essential liquidity, market access and infrastructure services to participants in the energy, commodities and financial markets growth icon Over 40 ~3,400 $2,024m 100% Offices around Active clients1 Revenue Positive tradin
Slide 32: Run by a highly experienced management team
Run by a highly experienced management team Cultivating an environment where talent can thrive… …led by our experienced executive team 13 8 3 5 6 36 32 17 25 29 Strong culture and values that revolve around ✓ respect, integrity and development Ian Lowitt Paolo Tonucci Rob Irvin Dean Shoosmith Thomas
Slide 33: Unique service offering and market leading position
Unique service offering and market leading position Marex’s Primary Competitors by Core Businesses1 Hedging and Agency and Clearing Market Making Investment Execution Solutions ✓ ✓ ✓ ✓ ✓ FCMs and Brokerage ✓ ✓ ✓ ✓ ✓ ✓ No structured notes business ✓ Inter-dealer Brokers ✓ Focused on financial markets
Slide 34: Interest rate sensitivity
Interest rate sensitivity Fed funds forward curve Illustrative Adjusted Profit Before Tax movement from rate sensitivity2 ($m) Implied year-end rate ~3.1% at December 20261 Note(s): 1. As at December 31, 2025. 2. Reflects incremental Adjusted Profit Before Tax or loss over a given financial year. Th
Slide 35: Profit Before Tax to Adjusted Profit Before Tax Reconciliation
Profit Before Tax to Adjusted Profit Before Tax Reconciliation 3 months ended 3 months ended ($m) 31 December 2025 31 December 2024 Profit After Tax from Continuing Operations 85.5 56.7 Taxation charge 25.7 21.1 Profit Before Tax from Continuing Operations 111.2 77.8 Bargain purchase gains1 0.0 0.0
Slide 36: Profit Before Tax to Adjusted Profit Before Tax Reconciliation
Profit Before Tax to Adjusted Profit Before Tax Reconciliation 12 months ended 12 months ended 12 months ended 12 months ended ($m) 31 December 2025 31 December 2024 31 December 2023 31 December 2022 Profit After Tax from Continuing Operations 307.9 218.0 141.3 98.2 Taxation charge 103.7 77.8 55.2 2
Slide 37: Adjusted Sharpe Ratio Reconciliation
Adjusted Sharpe Ratio (of Adjusted Profit Before Tax) Reconciliation FY 2024 FY 2025 Average Monthly Profit After Tax ($m) 18.2 25.6 Standard Deviation on Monthly Profit After Tax1 3.9 4.0 We define the Adjusted Sharpe ratio as the average of monthly Adjusted Profit Before Reported Sharpe Ratio 4.7
Slide 38: Scalable Platform & Growth Strategy
Scalable Platform & Growth Strategy
Slide 39: Client-driven growth strategy
Client-driven growth strategy Focusing on our four interconnected services, we look to expand our geographic footprint and product capabilities increasing our relevance to a broader client base Biofuels and Biogas Middle East Americas Producers and Consumers Equity of Commodities Emissions Securitie
Slide 40: Driving growth through bringing new clients onto our platform
Driving growth through bringing new clients onto our platform Bringing new clients onto our platform… …and widening the list of large clients… …and diversifying the client base Number of active clients1 Number of clients >$5m of revenue Number of clients $25k - $5m of revenue +19% YoY +36% YoY +19%
Slide 41: Track record of deepening relationship through cross-selling
Track record of deepening relationship through cross-selling Offering a full suite of complementary services to our clients Revenue by client Client A Client B Client C Global Commodities Group Global Multi-Asset Manager Large Trading House ($m) ($m) ($m) 15.3 14.7 12.8 5.3 2.6 1.6 2021 2024 2021 20
Slide 42: Global platform with growth opportunities across all regions
Global platform with growth opportunities across all regions EMEA Americas APAC +34% CAGR +58% CAGR 885 +69% CAGR 578 Revenue ($m)1 131 373 142 27 2021 2024 2021 2024 2021 2024 % of Revenue 69% 56% 26% 36% 5% 8% FTEs1 662 1,398 343 733 56 203 • Built upon FX capabilities with the • Integrated Prime
Slide 43: Robust acquisition screening process leads to attractive pipeline
Robust acquisition screening process leads to attractive pipeline • Screen opportunities to fill strategic product and or geographic gaps Acquisition • On an annual basis we assess 50+ opportunities, building an attractive pipeline for coming year 1 screening process • Focus on bolt-on and medium-si
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