Deutsche Boerse Ag · XETR:DB1

Deutsche Boerse — Deutsche Börse Group — Q2 2012 Earnings Presentation

14 slides from Deutsche Boerse's earnings presentation, Jul 27, 2012

1. Slide 1: Q2/2012 Results Analyst and Investor Conference

   Q2/2012 Results Analyst and Investor Conference 27 July 2012

2. Slide 2: Overview Q2/2012 Results Conference

   Deutsche Börse Group, Q2/2012 Results, 27 July 2012 Overview Q2/2012 Results Conference  Resilient performance in the second quarter despite lower volatility, continued restraint amongst market participants and low interest rates  Net revenue remained stable at €506.7 million, benefiting from stro

3. Slide 3: Q2/2012 – Another Solid Quarter Despite Unfavorable Market Environment

   Deutsche Börse Group, Q2/2012 Results, 27 July 2012 Q2/2012 – Another Solid Quarter Despite Unfavorable Market Environment Net revenue (€m)1 Operating costs (€m)2 Earnings per share (€)2,3 578.6 506.4 510.1 506.9 506.7 1.31 1.08 1.01 1.01 0.91 240.8 225.7 216.6 222.8 224.0 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1

4. Slide 4: Q2/2012 – Stable Net Revenue Compared To Q2/2011 Mainly As A Result Of Full Acquisition Of Eurex

   Deutsche Börse Group, Q2/2012 Results, 27 July 2012 Q2/2012 – Stable Net Revenue Compared To Q2/2011 Mainly As A Result Of Full Acquisition Of Eurex Net revenue and EBIT1 (€m) Revenue  Net revenue: €506.7m (0% y-o-y) - Net interest income: €13.6m (-26% y-o-y) 578.6 - Other operating income: €6.6m (

5. Slide 5: Xetra – Net Revenue Performance Reflects Decrease In Business Activity

   Deutsche Börse Group, Q2/2012 Results, 27 July 2012 Xetra – Net Revenue Performance Reflects Decrease In Business Activity Business activity (Order book volume in €bn)1 Cash market net revenue (€m) Change vs. 76.4 Q2/12 Q1/12 Q2/11 62.2 23.0 59.4 56.8 DAX Equities 201.2 -9% -17% 53.8 16.8 5.4 16.8 1

6. Slide 6: Eurex – Strong Performance Of Index Products Combined With Full Consolidation Of Eurex

   Deutsche Börse Group, Q2/2012 Results, 27 July 2012 Eurex – Strong Performance Of Index Products Combined With Full Consolidation Of Eurex Drive Increase In Net Revenue Business activity (traded contracts in million) Eurex net revenue (€m) Change vs. 275.0 Q2/12 Q1/12 Q2/11 45.3 234.8 218.6 218.3 21

7. Slide 7: Clearstream – Sound Performance in GSF But Further Decline In Net Interest Income

   Deutsche Börse Group, Q2/2012 Results, 27 July 2012 Clearstream – Sound Performance in GSF But Further Decline In Net Interest Income Due To Low Interest Rates Business activity Clearstream net revenue (€m) 173.1 176.9 173.8 Change vs. 170.9 165.9 Q2/12 Q1/12 Q2/11 26.9 33.7 30.0 31.5 29.0 Assets un

8. Slide 8: Market Data & Analytics – Net Revenue Decreased Compared To Q2/2011

   Deutsche Börse Group, Q2/2012 Results, 27 July 2012 Market Data & Analytics – Net Revenue Decreased Compared To Q2/2011 Due To Weak Market Environment Net revenue and EBIT (€m) Development of business activity  Less volatile revenue drivers compared to the 58.1 57.0 trading businesses: Number of da

9. Slide 9: Outlook 2012

   Deutsche Börse Group, Q2/2012 Results, 27 July 2012 Outlook 2012  Because of the subdued business activity in H1/2012 and if the market environment and trading activity does not improve significantly in H2/2012, Deutsche Börse expects to be moderately below its net revenue guidance range for 2012 (

10. Slide 10: Strategic Initiatives Continue To Deliver Growth

    Deutsche Börse Group, Q2/2012 Results, 27 July 2012 Strategic Initiatives Continue To Deliver Growth 1) Xetra – Order book volume ETFs 3) Clearstream/Eurex – GC Pooling €bn1 17 €bn2 134.5 15 -12% 98.9 +36% H1/11 H1/12 H1/11 H1/12 2) Clearstream – Global Securities Financing 4) Eurex – Dividend, vola

11. Slide 11: Appendix

    Deutsche Börse Group, Q2/2012 Results, 27 July 2012 Appendix 10

12. Slide 12: Income Statement – Group Level

    Deutsche Börse Group, Q2/2012 Results, 27 July 2012 Income Statement – Group Level Quarter ended Quarter ended Six months ended Six months ended 30 June 2012 30 June 2011 30 June 2012 30 June 2011 Sales revenue 555.0 528.6 1,107.4 1,087.2 Net interest income from banking business 13.6 18.5 32.1 34.6

13. Slide 13: Income Statement – Segmental Level

    Deutsche Börse Group, Q2/2012 Results, 27 July 2012 Income Statement – Segmental Level Xetra Eurex Clearstream Market Data & Analytics Q2/2012 Q2/2011 Q2/2012 Q2/2011 Q22012 Q2/2011 Q2/2012 Q2/2011 Sales revenue 56.9 65.5 247.8 218.9 192.0 185.1 58.3 59.1 Internal sales 0.0 0.0 0.0 0.0 1.3 1.7 8.6 7

14. Slide 14: Income Statement – Sales Revenue And Net Revenue Per Product

    Deutsche Börse Group, Q2/2012 Results, 27 July 2012 Income Statement – Sales Revenue And Net Revenue Per Product Sales revenue per product (€m) Xetra Eurex Clearstream Q2/2011 Q2/2012 Q2/2012 Q2/2012 Q2/2011 Q2/2012 SUM 65.5 56.9 SUM 218.9 247.8 SUM 203.6 205.6 Trading 33.3 27.2 Index 89.9 114.5 Cus

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