Slide 1: ASX Limited 2023 Full-Year Results Presentation Slides
17 August 2023 Australian Securities and Investments Commission ASX Market Announcements Office Mr Nathan Bourne ASX Limited Senior Executive Leader, Market Infrastructure 20 Bridge Street Level 5, 100 Market Street SYDNEY NSW 2000 SYDNEY NSW 2000 ASX LIMITED – 2023 FULL-YEAR RESULTS PRESENTATION SL
Slide 2: ASX Limited
ASX Limited 17 August 2023
Slide 3: Acknowledgement of Country
Acknowledging Country | ASX acknowledges the Trad Owners of Country throughot : Australia. We pay our respects to Elders past and present. i Artwork by Lee Ann Hall, My country My People
Slide 4: Contents
Contents FY23 highlights and focus areas Helen Lofthouse, CEO FY 23 financial performance Andrew Tobin, CFO Strategy Helen Lofthouse Outlook and summary Helen Lofthouse For personal use onl fu Q&A Helen Lofthouse and Andrew Tobin @asx
Slide 5: FY23 highlights and focus areas
Helen Loftnouse, CEOmy > FY23 highlights and focus @ reas.
Slide 6: FY23 highlights
FY23 highlights Solid underlying performance in challenging markets For personaluse onl FY23 financial results Solid underlying performance in challenging markets Regulatory commitments Increased transparency and constructive approach to delivery of regulatory expectations Y Prioritising technology
Slide 7: FY financial results summary
FY 23 financial results summary $317.3m Resilient operating revenue performance with growth in Listings and Technology and Data offset by decline in Markets and Securities and Payments Expense increase driven by staff, equipment and administration costs, as well as CHESS related review and associate
Slide 8: FY23 strategic highlights
FY23 strategic highlights A new era for ASX Cc O oO 2) =) © Ss O 2) — oO : i @aunched purpose, vision, Introduced capital Refreshed Executive Achieved 99% reduction «_ five year strategy and flexibility to support leadership in Scope 1 and Scope 2 fo) values to drive the new new strategy emissions f
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Slide 10: Technology roadmap: a multi-year undertaking
Technology moe oe a multi-year undert Sour enterprise technology roadmap is focused on delivering major projects, investing in technology platforms and plifting delivery capability Derivatives Clearing Trading Major projects Establishing an integrated and more secure environment Developing a central
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Slide 12: FY23 financial performance
Andrew Tobin, CFO —S FY23 financial performance __
Slide 13: FY23 ASX financial results
FY23 ASX financial results | Operating revenue down, reflecting growth in listings revenue and - Sm om increased demand for information and technical services offset by ro) Listings 26 213.9 2.2% weaker equity trading and securities and payments activity Markets 292.4 298.6 (2.1%) WY) Technology and
Slide 14: Listings
Listings Revenue recognition pol FY2. Revenue (Smillion) 213.9 2.2% Le listing 108.3 108.8 (0.4%) Ahitial isting! 23.0 22.9 0.8% ““Secondan raisings? 78.3 73.1 7.0% Investment products and other listing 9.0 94 (1.1%) Som drivers Cvrew listings (number) : 57 217 (73.7%) ne 20 m1 _ nes Ctattet cap of
Slide 15: Markets
Markets Growth in equity options activity offset by decline in cash market trading FY23v Revenue ($million) 298.6 (2.1%) utures and OTC i 211.8 0.0% (Mash market trading 63.3 71.3 (11.3%) SBauit options 17.3 15.5 11.9% weekkey drivers CUhutures volume (million) 142.3 136.5 4.2% — stock options volum
Slide 16: Technology and Data
Technology and Data FY23 FY22| FY23 vFY22 venue (Smillion) 240.8 221.9 8.5% formation services 144.8 130.5 10.9% (echnical services 96.0 91.4 51% = Key drivers (spot) mALC cabinets 390 386 1.0% i 9 LC service connections 1,346 1,287 4.6% FYI9 FY20 FY21 FY22 FY23 ASX market data ASX 24 market data m™
Slide 17: Securities and Payments
Securities and Payments Slowdc 1 cash mark ity impacti BT On-market value cleared (Sbillion) evenue ($million) 258.4 288.3 (10.4%) CLigsuer services 61.1 78.5 (22.2%) ya post-trade services 134.8 153.1 (11.9%) —afustaclerlincucin Sympli) 62.5 56.7 10.2% Key drivers n-market value cleared (Sbillion)
Slide 18: FY23 ASX total expenses
FY23 ASX total expenses headcount and higher costs to support project initiatives, offset Staff! 198.6 1717 (15.7%) Okcnanc ag 39 rsp by lower restructuring costs. p Cf uipment - 226 478 (10.0%) Equipment uplift largely due to annual contract increase, growth BRiministration aan 316 (383%) in licens
Slide 19: FY23 ASX net interest income
FY23 ASX net interest income ASX Group cash net income growth offset by subdued investment spread income FY22| FY23 vFY22 Net interest income on ASX Group cash (0.6) Lge ase financing cost (2.9) (10.3%) (Group net interest income 30.0 (3.5) Lge Net interest on collateral balances 40.8 44.6 (8.4%) To
Slide 20: FY23 ASX balance sheet and shareholder returns
FY23 ASX balance sheet and shareholder returns 0 Jun 23 0 Jun 22 FY23 v Cash 1,008.6 4,972.2 Underlying return on equity 13.4% 13.7% (0.3%) Cpirancalassots 12,4481 9,484.8 Underlying earnings per share (cents) 253.7 262.7 (3.4%) |dtangibles (excluding software) 2,325.5 2,325.5 Dividend per share (ce
Slide 21: Total expenses
tal exp nses > Profile total e FY23 total expense growth: 12-15% * FY23 total expense growth of 12.3% driven by increased spend in 2H23 driven by CHESS related review and associated costs and CHESS replacement solution design costs of $13.3m. + CHESS Replacement Partnership Program (up to $70m) clas
Slide 22: Capital expenditure profile
Capital expenditure profile Primarily driven by technology modernisation roadmap @> $110-$140m * Capital expenditure profile over past few years has been driven by nn CHESS replacement as well as technology and regulatory capability uplift + FY23 capital expenditure of $98.7 million Reiterating FY24
Slide 23: Strategy
Helen Lofthouse, CEO Strategy
Slide 24: Five year strategy
Five year strategy New era ASX Cc CPURPOSE: TO POWER A STRONGER ECONOMIC FUTURE BY ENABLING A FAIR AND DYNAMIC MARKETPLACE FOR ALL PILLARS: ONE ASX GREAT CUSTOMER DIGITAL BY ASX is in a new era FUNDAMENTALS DRIVEN DESIGN We are the market's choice, inspiring eo confidence and trust. Ox,
Slide 25: One ASX
One ASX able and committed people ONE ASX Refreshed values We put the market first To benefit all customers © Refreshed Executive leadership Investing in our people 2) For ersopal use @BASx
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Slide 28: Outlook and summary
Helen Loftnouse, CEO Outlook and summary
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Slide 30: FY23 highlights
FY23 highlights Solid underlying performance in challenging markets For personaluse onl FY23 financial results Solid underlying performance in challenging markets Regulatory commitments Increased transparency and constructive approach to delivery of regulatory expectations Y Prioritising technology
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Slide 33: Appendices
Financial appendix 2 ASX background information Appendices Clearing and Settlement Boards and timeline of regulatory commitments @asx
Slide 34: Financial appendix
Financial appendix Appendices @asx
Slide 35: 1. Income statement
1. Income statement FY23 $million FY22 $million Fy21 $million FY20 $million Annual listing 108.3 108.8 89.9 92.4 93.8 (@! Initial listing 23.0 22.9 18.6 18.4 19.2 Secondary raisings 78.3 73.1 64.1 56.1 51.2 bY Investment products and other listing 9.0 941 10.3 94 8.0 Or 218.6 213.9 182.9 176.3 172.2
Slide 36: 1. Income statement (continued)
1. Income statement (continued) CStaff! ‘cupancy et ministration’ Girne Onsic levy TBperating expenses excl. CHESS review and associated costs and CHESS placement solution design costs s=emG@HESS review and associated costs and CHESS replacement solution design costs tal operating expenses ITDA prec
Slide 37: 2. Balance sheet
2. Balance sheet (0 Jun 23 30 Jun 22 (0 Jun 21 30 Jun 19 nillion aillion nillion illion Cissets ish 1,008.6 4,972.2 5,357.8 858.1 333.1 Goa 12,448.1 9,484.8 8,024.1 12,998.9 11,937.2 Ifjtangibles (excluding software) 2,325.5 2,325.5 2,325.6 2,325.9 2,326.1 Agpital software and property, plant and eq
Slide 38: 3. Key financial ratios
3. Key financial ratios seenBasic earnings per share (EPS) * 163.9¢ 262.7¢ 248.4¢ 257.6C 254.1¢ CBiuted EPs? 163.9¢ 262.7¢ 248.4¢ 257.6C 254.1¢ derlying EPS2 253.7¢ 262.7C 248.4¢ 265.4c 254.1¢ ividend per share - interim 116.2c 116.4¢ 112.4c 116.4c 114.4c Dividend per share - final 112.1¢ 120.0¢ 111
Slide 39: 4.1 Listings
4.11 Listings ===Fotal domestic market capitalisation ($bn) - period end $2,504 $2,308 $2,498 $1,918 $2,069 Cyotal number of listed entities (includes all stapled entities) - period end 2,255 2,317 2,228 2,188 2,269 ea of new listings 57 217 176 83 m erage annual listing fee $48,027 $46,962 $40,341
Slide 40: 4.2 Markets: Futures and OTC
4.2 Markets: Futures and OTC ling days 256 256 256 257 255 Co Cipral contracts traded - futures ('000) ASX SPI 200 15,389 14,815 14,425 19,246 15,994 Gs day bank bills 30,323 21,235 12,833 24,967 34,698 (Byear bonds 43,663 42,618 45,598 58,091 60,488 ear bonds? 323 913 1,138 : : = bonds 46,576 52,63
Slide 41: Markets: Futures and OTC (continued)
42 Markets: Futures and OTC (continued) ==otal contracts traded - options on futures ('000) CASx SPI 200 4 9 28 65 98 ear bonds i) i) 3 Ww 227 Qaates year bonds 6 5 0 269 279 lnjtra-day 3 year bonds 72 7 27 508 610 ene ie} 3 61 25 4 Clectricty 103 101 116 79 56 Other? - - - 2 - Total options on futu
Slide 42: 4.2 Markets: Equity Options
4.2 Markets: Equity Options 252 253 254 255 252 mendrading days igle stock options (‘000) 58,345 60,172 56,887 65,894 73,825 Index options and futures (‘000) 7,671 5,896 5,328 9,842 1,282 ) ¢ erage daily single stock options contracts 231,528 237,835 223,964 258,406 292,957 Average daily index optio
Slide 43: 4.2 Markets: Cash Market Trading
4.2 Markets: Cash Market Trading mendrading days 252 253 254 255 252 Ge cash market trades ('000) 369,584 448,276 384,150 460,789 359,985 erage daily cash market trades 1,466,603 1,771,841 1,512,400 1,807,015 1,428,512 ) Ta. Continuous trading value ($bn) $848.347 $1,078.995 $994.431 $995.319 $722.1
Slide 44: 4.3 Technology and Data: Technical Services
4.3 Technology and Data: Technical Services FY23 FY22 FY ===Fechnical Services (number at period end) (Asx Distribution Platform CAbstralian Liquidity Centre cabinets 390 386 368 326 324 Connection Services JASX Net connections 99 106 103 103 104 (Faw Net service feeds 456 476 452 455 447 maton Liqu
Slide 45: 4.4 Securities and Payments: Clearing & Settlement and Issuer Services
4.4 Securities and Payments: Clearing & Settlement and Issuer Services m=e=Glearing days 252 253 254 255 252 Cita! billable cash market value cleared ($bn) 1,536.4 1,812.2 1,589.2 1,659.3 1,288.0 Cetttiement days 252 253 254 255 252 mber of dominant settlement messages (m) 20.8 22.0 227 22.5 19.6 Nu
Slide 46: 4.4 Securities and Payments: Austraclear
4.4 Securities and Payments: Austraclear m==Settiement days 252 253 254 255 253 (transactions ('000) COsh transfers 578 560 565 645 610 Fixed interest securities 1,469 1,229 1,100 975 812 QDscount securities 134 104 103 131 147 (foreign exchange 12 4 5 6 9 her 1 - 1 : - a transactions 2,194 1,897 1,
Slide 47: 4.5 CCP participant collateral balances
4.5 CCP participant collateral balances ¢ Balances at periodend Gate aeenes 970.5 1,257.7 971.3 1,286.4 843.6 SX Clear (Futures) - initial margins House" 2,484.2 2,449.3 2,628.2 2,763.2 2,369.7 ASX Clear (Futures) - initial margins Client’ 5,791.4 5,389.4 6,597.0 6,797.4 5,548.9 (fx Clear (Futures)
Slide 48: 5. ASX Group own cash and short-term investments movement
5. ASX Group own cash and short-term investments movement FY20 $mi $million ¢ ASX Group cash and short-term investments hel cash and short-term investments 13,4567 14,457.0 13,381.9 13,857.0 12,265.0 ess participants’ margins and commitments (12,275.3) (13,276.7) (12,214.8) (12,677.2) (10,801.0) sx
Slide 49: Appendices: ASX background information
Appendices ASX background information @aAsx
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Slide 51: ASX Limited
ASX Limited SX Integrated offering Largest interest rate on) derivatives market in Asia Pacific; fourth largest globally! Diversified revenue streams Supported by 5th largest pool of pension fund capital in the world? ® ASX
Slide 52: ASX overview
ASX overview O o ct Technology Securities and _ and Data Payments £ 6 = Oo $ Y) — o (on Technology centre of excellence SG Customer, delivery and digital LL Finance, legal, compliance, strategy, people & culture and risk 51 | @asx
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Slide 54: Diversified revenue mix
Diversified revenue mix 8% 10% 29% 21% 22% HE Listing and issuer services I HE Clearing and settlement IN Derivatives and others HE information services HE Technical serv ompany filings
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Slide 56: Listings
Listings & St largest pool of pension capital globally’ Robust regulatory environment (ea Xa. dy 2,000+ listed Australian and global companies across diverse sectors Efficient capital raising framework Largest number of follow-on offerings in the world and 5" largest by capital raised in 20222 500+
Slide 57: ASX is one of the world's most active exchanges by volume of listings
Listings ASX is one of the world’s most active exchanges by volume of listings For personal use onl Selected exchanges as at 31 Decem New listings data sourced from exchang ASX includes stapled securities and deby London BES Stock Exchange HKEX & it & S fh tli NYSE SGX= INZX *| ebsite, NZX data from
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Slide 61: Listings performance
Listings performance 108.8 50 Oo , Secondary Initial Investment products FY19 FY20 FY2t FY22 FY23 Annual listings raisings listings and other listing mAnnual listings mi Initial listings m Secondary raisings __m Investment products and other listings a ital raised ) and number of IPOs nd number of l
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Slide 63: Markets
Markets Largest interest rate derivatives market in Asia Pacific; fourth largest globally! Equity derivative contracts transacting S10 billion a day in notional exposure ‘1 WFE Derivatives Report 2021, published April 2022 89% share of on-market equities Near 24 hour trading and clearing for derivat
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For personal use only 72% 22% 24% 100%
Slide 67: Technology and Data overview
Technology and Data overview
Slide 68: Technology and Data
Technology and Data ASX Net fibre network Key points Cc O ®o 2) =) Technical Services | Information Services provides highly © revenues underpinned efficient connectivity = <D>\ provider of ASX by demand from : to the diverse financial Oo — Tr a ° professional market EB market ecosystem via (op) <<
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Slide 71: Technology and Data performance
Technology and Data performance _ 200 200 10.0% CAGR over the past 5 years . EH 50 Information Services Technical Services FY19 FY20 FY21 21.8 FY23 MASX market data MASX24 market data ™ Benchmarks and Index _™ Reference Point and ComNews. 5.3% CAGR over the past 5 years 100 1170 1287 146 1,068 80 60
Slide 72: Securities and Payments overview
Securities and Payments overview
Slide 73: Securities and Payments
Securities and Payments Central counterparty for equity clearing and settlement for ASX, CBOE and National Stock Exchange markets Facilitates collateral management in debt markets Only cash equity clearing and settlement provider in Australia Payment platform for *, property transactions, high value
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Slide 76: Securities and Payments performance
curities an ments perrormance Equity post-trade services Issuer Services Austraclear FY19 FY20 FYa1 FY22 FY23 mEquity post trade services mlssuer services m Austraclear nal use on
Slide 77: Appendices: Clearing and Settlement Boards and timeline of regulatory commitments
Appendices 2 Clearing and Settlement Boards and timeline of regulatory commitments @BASx
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Slide 79: Regulatory commitments
Regulatory commitments 14 December ASIC requests special report on support and 29 March ASIC informs ASX it has August ersonal use o maintenance of CHESS 16 February ASX to publish special ASX announces CHESS Sea ae a to report on response to August 15 December Replacement Partnership a CHESS replac
Slide 80: Disclaimer
Disclaimer DRE material contained in this document is a presentation of general information about the ASX Group's activities current as at the date of this presentation (17 August ‘“52023). It is provided in summary and does not purport to be complete. You should not rely upon it as advice for inves