Slide 1: H1 2026 Results
TP ICAP GROUP PLC H1 2026 RESULTS For the six months ended 30 June 2026
Slide 2: Agenda
6 August 2026 Agenda • Strategic overview • Financial performance & outlook • Divisional performance • Summary • Q&A 2026 Interim Results 2
Slide 3: Strong H1 financial performance and strategy delivery
6 August 2026 Strong H1 financial performance and strategy delivery H1 2026 highlights Group Revenue Interim dividend • Strong H1 performance, building on FY 2025 momentum £1.3bn 5.6 pence • Excellent performance in core Global Broking franchise +8% +8% • Acquisition of Vantage Capital Markets • Lau
Slide 4: Strategic overview
6 August 2026 Strategic overview Our success is founded on our trusted reputation • Strong performance and continued delivery against our strategic goals Global OTC derivatives market1 4-year ◦ Diversification 900 CAGR +9.0% ◦ Transformation ◦ Dynamic capital management 800 • Over next 5-yrs we will
Slide 5: Record H1 financial performance
ROBIN STEWART GROUP CFO RECORD H1 FINANCIAL PERFORMANCE
Slide 6: H1 2026 financial highlights
6 August 2026 H1 2026 financial highlights Revenue (£m) Adjusted EBIT (£m) +8% +9% 1,292 196 1,224 1,200 184 180 H1 2025 H1 2025 H1 2026 H1 2025 H1 2025 H1 2026 actual rates constant FX actual rates constant FX 1 Productivity (£k) Basic adj. EPS (p) +10% +3% 19.3 404 400 394 17.6 H1 2025 H1 2025 H1
Slide 7: Income statement
6 August 2026 Income statement 6 months to 30 June (£m) H1 2026 H1 20251 Change CC Change • Adj. EBIT +7% (+9% in constant currency) Revenue 1,292 1,224 6% 8% Adjusted EBIT 196 184 7% 9% • Margin increased to 15.2% (H1 2025: 15.0%) Net finance costs (16) (17) (6)% • Transformation plan accelerated A
Slide 8: Adjusted EBIT
6 August 2026 Adjusted EBIT £m 22 2 4 3 196 180 (9) (6) 1 H1 2025 CC Contribution Efficiencies Net management Efficiencies Other items FX: H1 2026 CC programme: Front- and support costs programme: retranslation office savings Back-office of cash/net savings financial assets 1. Including other operat
Slide 9: Divisional analysis
6 August 2026 Divisional analysis Global Energy & Liquidnet Parameta Intercompany 6 months to 30 June 2026 (£m) Group Broking Commodities Division Solutions2 eliminations Revenue 783 233 194 102 (20) 1,292 Y-o-Y growth (constant currency) 11% 2% 1% 6% - 8% Contribution 304 56 74 44 - 478 Contributio
Slide 10: Summary cash flow
6 August 2026 Summary cash flow 6 months to 30 June (£m) H1 2026 H1 2025 EBIT 152 140 • Cash at period end of £652m compared with Depreciation & amortisation 87 82 year-end closing balance of £903m Change in net settlement balances (174) (1) Other working capital (96) (128) • c.70% of movement in ca
Slide 11: Investing to simplify, enhance client experience
6 August 2026 Investing to simplify, enhance client experience Will exceed £50m target a year ahead of schedule; more to come 1 2 3 4 5 Key Technology and Target Operating Procurement Real Estate Legal entity & Vendor levers Data Model Management Optimisation consolidation £50m Delivered ahead of ta
Slide 12: Significant items
6 August 2026 Significant items 6 months to 30 June (£m) H1 2026 H1 2025 Restructuring & related costs 19 14 Group operational efficiencies programme 19 14 • Total significant pre-tax items increased Disposals, acquisitions and investment 24 33 to £45m (H1 2025: £44m) Amortisation of intangible asse
Slide 13: 2026 outlook
6 August 2026 2026 outlook Key items (£m) 2025 actual 2026 expected Revenue 2,353 - Adjusted EBIT 348 In line with consensus1 Net finance expense (34) c.(35) Effective tax rate (%) 27 c.27 Significant items (pre-tax) 84 c.802 • We remain confident in the outlook for 2026, and the Board expects to ac
Slide 14: Medium-term ambition
6 August 2026 Medium-term ambition To continue delivering compounding revenue growth and increasing operating leverage Revenue Adj. EBIT margin % Mid to high single-digit % growth 5) 2 021-2 R (CAG +9% 2,353 BIT /A dj. E 5% nu e +> Reve 14.8% 1,902 13.0% 2021 2025 2030 ambition NB: Historic revenue
Slide 15: Continued momentum & strategy delivery
CONTINUED MOMENTUM & STRATEGY DELIVERY NICOLAS BRETEAU GROUP CEO
Slide 16: Global Broking
6 August 2026 Global Broking Continuing to deliver a long-term strategy anchored in core franchise strengths • H1 2026 revenue +11% YoY to £783m, with adj. EBIT margin of Revenue (£m) 20.3% (H1 2025: 18.5%) +11% • Significant operating leverage, adj. EBIT +22% 783 ◦ Delivering cost-efficient expansi
Slide 17: Energy & Commodities
6 August 2026 Energy & Commodities Focused execution in mixed market conditions • H1 2026 revenue +2% YoY to £233m, with adj. EBIT margin of 5.2% (H1 2025: 11.4%) Revenue (£m) • Oil and related products account for >50% of divisional revenue • Strong Q1 followed by market disruption in Q2 238 +2% •
Slide 18: Liquidnet
6 August 2026 Liquidnet Buy-side agency execution specialist with long-term growth and margin upside • H1 2026 revenue +1% YoY to £194m, and adj. EBIT margin slightly down at 16.5% (H1 2025: 16.7%) Revenue (£m) • Liquidnet cash equities platform demonstrated strong operating leverage +1% ◦ Strength
Slide 19: Parameta Solutions
6 August 2026 Parameta Solutions Strategic, high-margin data solutions franchise, with accelerating growth Revenue (£m) • H1 2026 revenue +6% YoY to £102m, with ARR +6% YoY >£200m at period end, and adj. EBIT margin of 35.3% (H1 2025: 36.5%) • Acceleration in new business in H1 +6% • Materially stro
Slide 20: Summary
6 August 2026 Summary Delivering compounding growth, improving profitability, and shareholder value Mid to high single-digit % growth • Strong H1 results and good progress executing our strategy • Our value proposition is compelling and built on trust 5) • We are well diversified, with clear opportu
Slide 21: Q&A
Q&A
Slide 22: Appendix
APPENDIX
Slide 23: Divisional analysis – reported currency basis
6 August 2026 Divisional analysis – reported currency basis Global Energy & Liquidnet Parameta Intercompany 6 months to 30 June 2026 (£m) Group Broking Commodities Division Solutions eliminations Revenue 783 233 194 102 (20) 1,292 Y-o-Y growth 10% (2)% (1)% 2% - 6% Contribution 304 56 74 44 - 478 Co
Slide 24: Divisional analysis – constant currency basis
6 August 2026 Divisional analysis – constant currency basis Global Energy & Liquidnet Parameta Intercompany 6 months to 30 June 2025 (£m) Group Broking Commodities Division Solutions eliminations Revenue 704 229 192 96 (21) 1,200 Contribution 274 67 74 41 - 456 Contribution margin 38.9% 29.3% 38.5%
Slide 25: Balance sheet
6 August 2026 Balance sheet As at 30 June (£m) H1 2026 H1 2025 Goodwill & other intangibles 1,738 1,678 Other non-current assets 206 217 Current assets less current and non-current liabilities 178 (68) Cash and financial instruments 790 1,017 Net deferred tax liabilities (40) (25) Interest bearing l
Slide 26: Debt finance
6 August 2026 Debt finance £m H1 2026 H1 2025 5.25% £250m sterling Notes May 20261 – 20 2.625% £250m sterling Notes November 20281 250 249 7.875% £250m sterling Notes April 20301 252 252 6.375% £250m sterling Notes June 20321 248 248 Revolving Credit Facility drawn - banks2 25 – Subtotal 775 769 Loa
Slide 27: Net funds/(debt)
6 August 2026 Net funds/(debt) Cash and Financial Total Lease Net funds/ £m cash Overdraft Debt1 Investments funds liabilities (debt) equivalents At 1 January 2026 936 166 (33) 1,069 (769) (199) 101 Reported net cash flow from operating activities net 32 - (139) (107) 24 6 (77) of overdraft Net cash
Slide 28: Debt maturity profile - as at June 2026
6 August 2026 Debt maturity profile - as at June 2026 The Group’s core debt (EMTN bonds) comprises: £m • 2.625% £250m Sterling Notes maturing Nov 2028 692 • 7.875% £250m Sterling Notes maturing Apr 2030 92 • 6.375% £250m Sterling Notes maturing Jun 2032 350 250 250 The Group’s Revolving Credit Facil
Slide 29: Europe Brent futures contracts monthly YoY % change
6 August 2026 Europe Brent futures contracts monthly YoY % change Source: ICE Futures Europe, historical volumes futures contracts 2026 Interim Results 29
Slide 30: Disclaimer
6 August 2026 Disclaimer This communication and all information contained in or attached to it (including, but not limited to market prices/levels and market commentary) (the "Information") is for informational purposes only, is confidential, may be legally privileged and is the intellectual propert