Slide 1: ASX Limited 2024 Full-Year Results Presentation Slides
16 August 2024 Australian Securities and Investments Commission ASX Market Announcements Office Mr Benjamin Cohn-Urbach ASX Limited Senior Executive Leader, Market Infrastructure 20 Bridge Street Level 5, 100 Market Street SYDNEY NSW 2000 SYDNEY NSW 2000 ASX LIMITED – 2024 FULL-YEAR RESULTS PRESENTA
Slide 2: For personal use only
For personal use only
Slide 3: Disclaimer
Disclaimer is presentation has been prepared by ASX Limited (ABN 98 008 624 691) (“ASX”). enmary information is presentation contains general information about ASX and its related bodies corporate (“ASX Group") and their activities current as at 16 gust 2024, unless otherwise stated. It is provided
Slide 4: Acknowledgement of Country
Acknowledging Country ASX acknowledges the Traditi Owners of Country throughot Australia. We pay our respects to Elders past and present. ges Artwork by Lee Ann Hall, My country My People
Slide 5: ASX statement on ASIC proceedings
Helen Lofthouse, CEO ASX statement on ASIC proceedings
Slide 6: Contents
Contents For personal use onl uw FY24 highlights Helen Lofthouse, CEO FY24 financial performance Andrew Tobin, CFO FY25 strategic priorities and outlook Helen Lofthouse Q&A Helen Lofthouse and Andrew Tobin @asx
Slide 7: FY24 highlights
Wy Wy Wi Niffd UY Helen Loft \
Slide 8: FY highlights
FY 24 highlights Record operating revenue offset by expenses, maintaining investment in Key TOcus areas Focus areas —— _) M — — ae Regulatory Technology commitments modernisation Record operating revenue, offset by growth in operating expenses Continuing to deliver Delivering major Delivered expense
Slide 9: FY24 financial summary
For personal use only $ change % change $m FY24 FY23 on pcp2 on pcp2 Operating revenue1 1,034.3 1,010.2 24.1 2.4 Total expenses 429.5 374.6 (54.9) (14.7) EBIT 604.8 635.6 (30.8) (4.8) Net interest income 76.7 70.8 5.9 8.3 Underlying NPAT 474.2 491.1 (16.9) (3.4) Significant items (after tax) — (173.
Slide 10: Recent delivery highlights
Recent delivery highlights ry in technol dc ymer driven activities Technology roadmap x) Trading project CHESS Replacement project New environmental : oO Biel P Proj derivatives products launched EnlneInicess ete ciniering Cc O | 0) ; ; S= Cash Market Trading: Appointment of TCS as Integration into
Slide 11: FY24 financial performance
Andrew Tobin, CFO FY 24 financial p QASX
Slide 12: Financial results
Financial results or Solid revenue growth despite challenging markets, offset by higher expenses Tech & Data FY24 vs FY23 FY23 (4.8%) ae 208.2 218.6 Revenue growth in Markets and Technology & Data, offset by jarkets 315.4 292.4 7.9% declines in the Securities & Payments and Listings businesses. DP e
Slide 13: For personal use only
For personal use only 0.7 1.1 22.3 18.9 11.7 11.5 66.6 61.3 12 |
Slide 14: Markets
Markets Growth driven by market volatility from changing interest rate expectations FY24 vs n FY2. FY2: FY23 qe 315.4 292.4 7.9% tures and OTC 237.9 211.8 12.3% (ash market trading 60.3 633 (4.7%) =quity options. 17.2 173 (0.6%) — w==eKey drivers CBatures and Options on Futures volume (m) 163.5 142.
Slide 15: Technology & Data
For personal use only 200 160 120 80 40 0 FY20 FY21 FY22 FY23 FY24 ASX market data ASX24 market data Benchmarks and Index Reference Point and ComNews 1500 400 380 1000 360 340 500 320 300 0 280 14 | ALC service connections (LHS) ALC cabinets (RHS)
Slide 16: Securities & Payments
Securities & Payments cash market a a FY2: FY23 FY23 Revenue 255.6 258.4 (1.1%) Quer services 581 611 (4.9%) (Equity post-trade services 129.4 134.8 (4.0%) =Awstraclear (including Sympli) 68.1 625 9.0% —_ m==Key drivers CWWerage no. of unique security holdings (m) 20.2 20.7 (2.6%) COh-market value c
Slide 17: Headcount
For personal use only 1,193 1,050 159 (16) 303 144 906 890 FY23 Operational activities Projects FY24 (OPEX) (CAPEX) 16 | OPEX-related headcount CAPEX-related headcount
Slide 18: Total expense growth
Total expense growth tal expenses profile (5! ca P p ( - Vj 147% prin 5°] “ FY24 total expenses + FY24 total expense growth of 14.7% - Lower total expenses in 2H24 compared to 1H24 rating FY25 total expense growth guidance + FY25 expense growth guidance of 6% to 9%' supporting costs associated with
Slide 19: Net interest income
For personal use only Average collateral balance ($billion) • • • Interest income rates (bps) 40 600 30 • 428 400 295 20 10 10 10 200 • 10 10 0 11 0 FY22 FY23 FY24
Slide 20: Balance sheet and shareholder returns
Balance sheet and shareholder returns FY24VS Balance sheet ($m Jun 24 Jun 23 ho! returns FY24 FY23 FY23 (com 1,243.1 1,008.6 oe return on equity 13.0% 13.4% (40bps) ancial assets! 12,159.4 11,9575 Underlying earnings per share (cents) 2448 253.7 (3.5%) angibles (excluding software) 2,325.5 2,325.5 D
Slide 21: Capital expenditure profile
Capital expenditure profile Primarily driven by technology modernisation program Capital expenditure ($m) FY24 capital expenditure * FY24 capital expenditure of $136.3 million, primarily driven by ramp-up of major technology projects 61363 Reiterating FY25-FY27 capital ex; ure gu ce 3m + Increase in
Slide 22: For personal use only
For personal use only
Slide 23: FY25 strategic priorities
FY25 strategic priorities Maintain investment in Great Fundamentals while progressing growth opportunities Embedding regulatory commitments S Continue to embed uplifts from special reports and other regulatory deliverables sJej Id 3183}2.19S Great Fundamentals Delivery of technology roadmap Continue
Slide 24: Delivery roadmap
Delivery roadmap! Major technology projects FY24 FY25 FY26 FY27 and future Release 16 oa System ‘| Replacement > Data Centre ee Network Derivatives Futures System > Clearing Replacement FOr DC jgugnigrsrerietg O17! 'This roadmap is indicative only and is subject to change having regard to a number o
Slide 25: For personal use only
• • • • For personal use only • • • •
Slide 26: For personal use only
For personal use only
Slide 27: For personal use only
For personal use only
Slide 28: Financial appendix
Financial appendix Appendices ASX background information @asx
Slide 29: Financial appendix
Financial appendix Appendices @asx
Slide 30: Income statement
Income statement (CAtinual listing (tial listing Secondary raisings 64.1 56.1 Destment products and other listing 8.2 9.0 94 103 9.4 CBB tings 208.2 218.6 213.9 182.9 176.3 Fotures and OTC clearing 237.9 eng eng 214.4 242.9 Equity options 17.2 17.3 15.5 11.6 18.5 Ch market trading 60.3 633 AB 61.0 6
Slide 31: Income statement (continued)
1. Income statement (continued) ployee expenses cupancy uipment ministration’ riable IC levy Dberating expenses excl. regulatory expenses Regulatory expenses few operating expenses ios preciation and amortisation Gia expenses (fBIT ‘S.Gsoup net interest income Oo interest on participants’ balances t
Slide 32: Total equity
For personal use only Total equity
Slide 33: Key financial ratios
3. Key financial ratios i earnings per share (EPS)' 244.8¢ 163.9C 262.7¢ 248.4¢ 257.6 luted EPS! 244,8¢ 163.9¢ 262.7C 248.4C 257.66 derlying EPS? 244.8¢ 253.7 262.7C 248.4¢ 265.4€ idend per share - interim 101.2 116.2¢ 116.4¢ 112.4¢ 116.4¢ ge per share - final 106.8 H2.1¢ 120.0¢ AM1.2¢ 122.5¢ tutory
Slide 34: Listings
41 Listings Se (Sbn) - period end 857 2,652 443 2,658 057 Goel number of listed entities (includes all stapled entities) - period end 2,155 2,255 2,317 2,228 2,188 diner of new listings 56 57 217 176 83 \yerage annual listing fee 49,745 48,027 46,962 40,341 42,214 Ge market capitalisation of new lis
Slide 35: Markets: Futures and OTC
4.2 Markets: Futures and OTC ding days Cc tal contracts traded - futures ('000) X SPI 200 14,936 15,389 14,815 14,425 19,246 § day bank bills 37,301 30,323 21,235 12,833 24,967 oer bonds 50,375 43,663 42,618 45,598 58,091 Zs§ear bonds 326 323 913 1,138 = = year bonds 54,099 46,576 52,630 65,371 56,7
Slide 36: Markets: Futures and OTC (continued)
4.2 Markets: Futures and OTC (continued) = contracts traded - options on futures ('000) X SPI 200 1 4 9 28 65 ear bonds: = = = 3 ad ernight 3 year bonds 17 6 5 = 269 ntra-day 3 year bonds 38 72 7 27 508 qi bonds! 1 = 3 61 25 Rctricity 110 103 101 116 79 “Byer = = = = 2 Total options on futures 167 1
Slide 37: Markets: Equity options
4.2 Markets: Equity options m==frading days 252 252 253 254 255 Cotbgle stock options (000) 61,623 58,345 60,172 56,887 65,894 Index options and futures ('000) 7,261 7,671 5,896 5,328 9,842 (Pyze stock options average daily contracts 244,535 231,528 237,835 223,964 258,406 mex options average daily
Slide 38: Cash market trading
For personal use only 1,330.763 1,415.206 1,682.560 1,463.763 1,525.631 271.644 254.839 286.626 217.171 266.053 1,602.407 1,670.045 1,969.186 1,680.934 1,791.684
Slide 39: Technology & Data: Technical services
4.3 Technology & Data: Technical services — Services (number at period end) Gassx Distribution Platform Qstralian Liquidity Centre cabinets 391 390 386 368 326 Connection Services Gk Net connections 100 99 106 103 103 Ax Net service feeds 431 456 476 452 455 “Aistralian Liquidity Centre service conn
Slide 40: Securities & Payments: Clearing & Settlement and Issuer Services
4.4 Securities & Payments: Clearing & Settlement and Issuer Services « = ing days 252 252 253 254 255 eu billable cash market value cleared (Sbn) 1,457.2 1,536.4 1,812.2 1,589.2 1,659.3 Epterment. days 252 252 253 254 255 Ly Qhiee dominant settlement messages (m) 20.4 20.8 22.0 227 225 s=_NUmber of
Slide 41: Securities & Payments: Austraclear
4.4 Securities & Payments: Au mmeSettiement days 252 252 253 254 Geonsactions ('000) Gh transfers 575 578 560 565 645 Fixed interest securities 1,599 1,469 1,229 1,100 975 count securities 140 134 104 103 131 reign exchange 4 12 4 5 6 =other = 1 = 1 = ‘al transactions 2,318 2,194 1,897 1,774 1,757 C
Slide 42: CCP participant collateral balances
4.5 CCP participant collateral balances FY24 FY23 FY22 FY21 FY20 $million $million $million $million $million lances at period end X Clear - initial cash margins 1,012.0 970.5 1,257.7 971.3 1,286.4 X Clear (Futures) - initial cash margins House! 2,245.6 2,085.7 2,044.0 2,255.4 2,361.7 \§X Clear (Fut
Slide 43: ASX Group own cash and short-term investments movement
5. ASX Group own cash and short-term investments movement FY23 FY22 FY20 lion S$million S$million 8x Group cash and short-term investments ital cash and short-term investments! 13,402.5 12,966.1 14,457.0 13,381.9 13,857.0 Se participants’ margins and commitments! (1,974.6) (11,784.7) (13,276.7) (12,
Slide 44: ASX background information
Appendices ASX background information @asx
Slide 45: For personal use only
For personal use only
Slide 46: ASX portfolio
ASX portfolio High quality businesses "quality businesses. Strong position in Strength of q Win diverse multiple markets business model revenue streams or personal use onl E ee) Demonstrated by delivery of record revenue in FY24 despite challenging markets. @asx
Slide 47: For personal use only
• • • • • • • For personal use only • • • • • •
Slide 48: ASX value chain: creating value across the market lifecycle
ASX value chain: creating value across the market lifecycle Strength of business model Raising apital Trading | Clearing For personal use on! @asx
Slide 49: Supported by structural tailwinds
Supported by structural tailwinds Cc Oo 2) ==] Fe= : =) — : © Growing Australian Increasing demand for Net zero Cc capital base technology and data i transition 2) — co) Importance of public markets: Role of an exchange is to support the economy and solve customer challenges. To deliver price transp
Slide 50: For personal use only
For personal use only
Slide 51: Why list on ASX
Why list on ASX World's 5th largest pension system! © Outsized access to growth capital via secondaries Half the cost of the US2 Earlier index inclusion drives liquidity Valuation metrics compare favourably Price transparency and discovery
Slide 52: For personal use only
For personal use only 46% 40% 11% 75% 41% 34% 48%
Slide 53: Offerings show the strength of the ASX market compared to peers
offerings show the strength of the ASX market I| compared to peers ce) N@asx {hl Be change yl Nasdaq (O sexe ml Cc sy ue, Oo wt GF eons Drs @asx © Hkex HKEX euzen euzen ree 1x — @Bnasdaq SGX= LL Obps. 20bps 40bps 60bps 80bps 100bps AU $0b AU S20b AU $40b AU $60b AU $80b AU $100b lisation fram C ples
Slide 54: For personal use only
For personal use only • • • • • • • • • • • • • • • •
Slide 55: For personal use only
For personal use only • • • • • • • • • • •
Slide 56: Listings performance
Listings performance FY24 revenue split (under AASB 15) aoe A% ny" —_— Annual listings Secondary nitial listings Investment 2 FY23 FY24 (a) raisings products and other listing I vitial listings investment products and other listings ( Total market capitalisation and number of listed entities Total c
Slide 57: For personal use only
For personal use only
Slide 58: Markets
Markets Largest interest rate derivatives market in Asia Pacific; fourth largest globally’ Cash market trading: Centre Point is the 88% share of on- OO largest exchange market trading in > operated dark pool FY24 in Asia Pacific Equity derivative contracts transacting $10 billion a day in notional e
Slide 59: For personal use only
For personal use only • • • • • • • • • • • • • • • • • • •
Slide 60: For personal use only
For personal use only • • • • • • • • • • • • • • • • • • • • • • • • • •
Slide 61: For personal use only
For personal use only FY20 FY21 FY22 FY23 FY24
Slide 62: For personal use only
For personal use only
Slide 63: For personal use only
For personal use only • • • • • • • • • • • • •
Slide 64: For personal use only
For personal use only • • • • • • • • • • • • • • • • • • • • • • • • • • • •
Slide 65: For personal use only
For personal use only • • • • • • • • • • • • • • •
Slide 66: For personal use only
For personal use only 52% 24% 24%
Slide 67: Technology & Data
Data and insights ASX Za eS Technology & Data oversee ———
Slide 68: Role of Technology & Data business
Role of Technology & Data business Efficient, secure connectivity and insights for our customers Access and 3) Data and insights: connectivity: to add value to to the financial our customers ecosystem y, t t Connectivity for, and between, ASX customers. For personal use onl @BASx
Slide 69: For personal use only
For personal use only • • • • • • • • • • • • • • • • • • •
Slide 70: For personal use only
For personal use only • • • • • • • • • • • • • • • • • • • • • • • • •
Slide 71: For personal use only
For personal use only 52% 24% 40% 24%