Slide 1: First quarter 2026 results
Diversified Resilient Dynamic First quarter 2026 results May 6, 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-lookin
Slide 3: Performance highlights
Performance highlights Ian Lowitt, CEO 3
Slide 4: Delivered strong performance in key financial metrics
Delivered strong performance in key financial metrics Revenue ($m) Adjusted Profit Before Tax ($m)1 Margin 20.6% 22.1% +48% +59% 692.3 467.3 152.7 96.3 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Return on Equity (%) Basic Earnings Per Share ($) +570 bps +55% 34.4% 28.7% 1.52 0.98 Q1 2025 Q1 2026 Q1 2025 Q1 202
Slide 5: Delivering consistent growth through different market environments
Delivering consistent growth through different market environments Marex quarterly Adjusted PBT1 Exchange volumes2 +59% YoY +33% QoQ +24% YoY +32% QoQ 152.7 106.4 100.5 114.9 96.3 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Volatility: CBOE Market Volatility (VIX)
Slide 6: Operational highlights
Operational highlights Clearing balances increased Completed successful USD debt Current trading: materially: issuance in April: April performance remains strong, tracking above April 2025 levels Average client balances increased to $500m senior unsecured notes due 2031 $16bn Highly oversubscribed t
Slide 7: Financial performance
Financial performance Rob Irvin, CFO 7
Slide 8: Financial highlights: Q1 2026
Financial highlights: Q1 2026 ($m) Q1 2026 Q1 2025 % Change2 First quarter 2026: another record quarter Revenue 692.3 467.3 48 % Revenue Front Office Costs (374.3) (258.4) 45 % $692m Control and Support Costs Depreciation and amortization (153.2) (8.8) (106.8) (6.5) 43 % 35 % +48% YoY driven by stro
Slide 9: Clearing – strong growth in client balances and activity
Clearing – strong growth in client balances and activity Quarterly performance Revenue ($m) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Net Commission Income 68 72 66 70 88 Net Interest Income 48 59 62 59 68 Net Trading Income 3 8 6 8 (18) Total 119 139 134 137 137 YoY growth 15% Recovery/(Provision) fo
Slide 10: Agency and Execution – broad-based growth across Securities and Energy
Agency and Execution – broad-based growth across Securities and Energy Quarterly performance Revenue ($m) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Prime 53 61 57 87 74 FX 6 8 26 27 32 Credit 14 19 16 15 11 Rates 28 31 29 26 34 Equities 49 50 53 55 63 Other securities (0.1) (0.6) 0.0 (0.1) 0 Securitie
Slide 11: Market Making – strong performance benefitting from elevated volatility
Market Making – strong performance benefitting from elevated volatility Quarterly performance Revenue ($m) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Metals 23 41 24 50 65 Ags 7 — — 4 10 Energy 9 11 7 7 32 Securities 14 5 13 20 33 Total 53 57 44 81 140 YoY growth +164% +232% YoY Adjusted PBT1 ($m) 55.8
Slide 12: Hedging and Investment Solutions – record quarter driven by client activity
Hedging and Investment Solutions – record quarter driven by client activity and platform investments Quarterly performance Revenue ($m) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Hedging Solutions 14 20 23 23 36 Financial Products 31 21 26 40 58 Total 45 41 48 63 93 YoY growth +107% +195% YoY Adjusted
Slide 13: Net interest income and average balances
Net interest income and average balances NII and total average balances1 YoY NII Movements Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Net Interest YoY Q1 2025 Q1 2026 Avg. Fed Income ($m)4 Change Drivers 4.3% 4.3% 4.3% 3.9% 3.6% Funds rate • Avg. Fed Funds rate: -70 bps Interest income 178.9 196.0 9.6%
Slide 14: Vast majority of balance sheet driven by client activity
Vast majority of balance sheet driven by client activity Total1 Client Activities (Mar-26) Residual Client Repurchase Assets/Liabilities Period End ($bn) Dec-25 Mar-26 Balances Agreements Securities Derivatives Held for Sale Mar-26 Driven by client activity Cash and Liquid Assets2 7.0 8.6 5.5 — — —
Slide 15: 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 Capital Liquidity 230% 253% 1.0 1.4 Ratio3 Headroom 6.7 1,019 6.2 927 403 403 Dec-25 Mar-26 Dec-25 Mar-26 Capital Requirement² Regulatory C
Slide 16: Client-driven business model and robust risk management
Client-driven business model and robust risk management Market Making daily revenue distribution Q1 2026 Track record of low realized group credit losses Number of days by trading profitability As a % of revenue $0 0.1% 0.3% —% —% Q1 2026 daily average 31 VaR1 $5.0m 9 7 6 4 1 2 3 ($m) <($1.0m) ($1.0
Slide 17: Conclusion
Conclusion Ian Lowitt, CEO 17
Slide 18: Q&A
MAREX. Q&A
Slide 19: Appendix
MAREX' Appendix
Slide 20: Marex volumes data
Marex volumes data (million contracts) Q1 2026 Q1 2025 % change Q1 2026 TTM Q1 2025 TTM % change Clearing Market Volumes¹ 3,944 3,191 24 % 12,901 11,891 8% Marex Revenue ($m)3 137 119 15 % 546 485 13 % Marex Volumes 397 312 27 % 1,365 1,161 18 % Agency and Execution - Energy Marex Revenue ($m) 106 8
Slide 21: Profit Before Tax to Adjusted Profit Before Tax Reconciliation
Profit Before Tax to Adjusted Profit Before Tax Reconciliation 3 months ended 3 months ended ($m) 31 March 2026 31 March 2025 Profit After Tax from Continuing Operations 112.3 72.5 Taxation charge 37.5 25.5 Profit Before Tax from Continuing Operations 149.8 98.0 Bargain purchase gain1 0.0 (3.4) Amor
Slide 22: 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