Slide 1: Third Quarter 2025 Earnings Supplement
Presentation Title in Third Quarter 2025 Title Case Earnings Supplement Presentation subtitle in sentence case Presenter Name Event name xx Month 201x © 201X Virtu Financial. All rights reserved. Not to be reproduced or retransmitted without permission. Compliance #XXXX-XXXX © 2025 Virtu Financial.
Slide 2: Performance Highlights
Performance Highlights 3Q 2025 Key Financials Summary Recent Results Adj. Net Trading Income / Day1 Normalized $9.2M $8.3M $7.4M Adj. NTI1 Adj. NTI/day1 Adj. EPS1 $6.1M $7.3M $1.9M $1.9M $1.7M $1.9M $1.6M $467M $7.4M $1.05 $4.5M $5.5M $6.4M $7.3M $5.4M 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 Market Making VES
Slide 3: Virtu Financial Opportunities for Growth
Virtu Financial Opportunities for Growth Strong foundation not changing • Disciplined and focused risk profile • Remain a service provider in both market making and VES • Prudent expense management and deployment of capital Shift focus to growth opportunities • Recent evolution of the markets has pr
Slide 4: Capital Management Priorities
Capital Management Priorities Deploy capital to maximize return 2015-2021 2021-2025 2025 & beyond • Executed 2 major acquisitions: • Net share buybacks of $1.3 billion • Accelerate growth by retaining o KCG in 2017 at an average cost of $26.35 per capital in market making and o ITG in 2019 share exp
Slide 5: Key Financial Metrics
Key Financial Metrics Annual Trailing 5 Quarters Comparison FY FY FY FY FY YTD FY 2024 FY 2025 3Q 2025 v ($M) 2020 2021 2022 2023 2024 2025 3Q 4Q 1Q 2Q 3Q 2Q'25 3Q'24 Total Adjusted Net Trading Income 1 $2,271 $1,910 $1,468 $1,211 $1,598 $1,532 $388 $458 $497 $568 $467 - 20% + 21% Daily Average Adj.
Slide 6: Market Metrics
Market Metrics Annual Trailing 5 Quarters Comparison FY FY FY FY FY YTD FY 2024 FY 2025 3Q 2025 v 2020 2021 2022 2023 2024 2025 3Q 4Q 1Q 2Q 3Q 2Q'25 3Q'24 Market Metrics (Average Daily) Volume Metrics US Equity Consolidated Volume (M shares) 10,926 11,404 11,875 11,054 12,153 17,240 11,503 13,581 15
Slide 7: Operating Expenses and Long-Term Debt
Operating Expenses and Long-Term Debt Operating Expense Results Annual Trailing 5 Quarters Adjusted Operating Expenses FY FY FY FY FY YTD 2024 2024 2025 2025 2025 ($M) 2020 2021 2022 2023 2024 2025 3Q 4Q 1Q 2Q 3Q Adj. Cash Compensation1 $321 $314 $315 $320 $351 $317 $89 $92 $95 $110 $112 Adj. Commun
Slide 8: GAAP Reconciliations and Other Information
GAAP Reconciliations and Other Information
Slide 9: Share Repurchases and Dividends
Share Repurchases and Dividends Steady Payout in All Environments Dividends declared per share and Adjusted EPS1, quarterly $1.53 $1.44 $1.30 $1.14 $1.14 $1.05 $0.76 $0.83 $0.82 $0.74 $0.74 Adj. EPS $0.45 $0.37 Quarterly $0.24 $0.27 Dividend of $0.24 FY19 FY20 FY21 FY22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24
Slide 10: Share Buybacks
Share Buybacks Cumulative Shares Repurchased to Date 1,2 80M 25% 70M 20% 60M 50M 50M 52M 53M 54M 44M 46M 47M 49M 15% 40M 41M 36M 39M 10% 30M 30M 32M 25M 27M 20M 5% 12M 16M Cumulative Notional ($B): 10M 7M $0.9 $0.9 $1.0 $1.0 $1.1 $1.1 $1.1 $1.2 $1.2 $1.3 $1.3 $1.4 $1.4 - 0% Cumulative Shares Repurch
Slide 11: Share Count Roll Forward
Share Count Roll Forward 2021 2022 2023 2024 Grand (M shares) 4Q 2020 1Q 2025 2Q 2025 3Q 2025 Total Total Total Total Total Beginning of Period Shares 197.1 195.6 186.1 171.7 162.7 159.2 160.2 159.2 197.1 Shares Repurchased - 1.44 - 14.71 - 16.34 - 12.48 - 6.70 - 1.34 - 1.66 - 0.48 - 55.14 Net Share
Slide 12: GAAP Balance Sheet
GAAP Balance Sheet Assets ($M) As of: 12/31/19 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 3/31/25 6/30/25 9/30/25 Cash and cash equivalents $732 $890 $1,071 $982 $820 $873 $724 $752 $708 Cash & securities segregated under regulations & other 41 117 49 57 35 41 47 38 48 Securities borrowed 1,929 1,
Slide 13: GAAP Income Statement
GAAP Income Statement Annual Trailing 5 Quarters Income Statement FY FY FY FY FY YTD FY 2024 FY 2025 ($M) 2020 2021 2022 2023 2024 2025 3Q 4Q 1Q 2Q 3Q Trading income, net $2,493 $2,105 $1,629 $1,301 $1,822 $1,772 $444 $544 $590 $653 $529 Commissions, net and technology services 601 614 530 456 517 4
Slide 14: Adjusted EBITDA & Normalized Adjusted EPS
Adjusted EBITDA & Normalized Adjusted EPS Annual Trailing 5 Quarters Income Statement FY FY FY FY FY YTD FY 2024 FY 2025 ($M) 2020 2021 2022 2023 2024 2025 3Q 4Q 1Q 2Q 3Q Adjusted Net Trading Income $2,271 $1,910 $1,468 $1,211 $1,598 $1,532 $388 $458 $497 $568 $467 Adj. EBITDA / Adj. EPS FY FY FY FY
Slide 15: Adjusted Net Trading Income Reconciliation
Adjusted Net Trading Income Reconciliation Operating Segments Annual Trailing 5 Quarters Adjusted Net Trading Income Reconciliation FY FY FY FY FY YTD 2024 2024 2025 2025 2025 ($M) 2020 2021 2022 2023 2024 2025 3Q 4Q 1Q 2Q 3Q Trading income, net $2,493 $2,105 $1,629 $1,301 $1,822 $1,772 $444 $544 $5
Slide 16: Adjusted Net Trading Income Reconciliation
Adjusted Net Trading Income Reconciliation Organic Growth Initiatives Annual Trailing 5 Quarters Organic Growth Initiatives FY FY FY FY FY YTD 2024 2024 2025 2025 2025 Adjusted Net Trading Income Reconciliation ($M) 2020 2021 2022 2023 2024 2025 3Q 4Q 1Q 2Q 3Q Trading income, net $241 $144 $180 $184
Slide 17: Adjusted Operating Expense Reconciliation
Adjusted Operating Expense Reconciliation Annual Trailing 5 Quarters Adjusted Operating Expenses Reconciliation FY FY FY FY FY YTD FY 2024 FY 2025 ($M) 2020 2021 2022 2023 2024 2025 3Q 4Q 1Q 2Q 3Q Employee compensation and payroll taxes $394 $376 $391 $394 $435 $413 $108 $121 $119 $136 $158 (-) Cash
Slide 18: Disclaimer
Disclaimer Cautionary Statement Regarding Forward Looking Statements This presentation may contain “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements regarding Virtu Financial, Inc.’s (“Virtu’s”, the “Company’s
Slide 19: End Notes
End Notes These notes refer to metrics and/or defined terms presented on: Slide 2 Performance Highlights 1. This reflects a non-GAAP measure. Please refer to slides at the end of this presentation for reconciliation to the equivalent GAAP measure. Prior period reconciliations available: https://ir.v
Slide 20: End Notes
End Notes These notes refer to metrics and/or defined terms presented on: Slide 7 Operating Expenses and Long-Term Debt 1. This reflects a non-GAAP measure. Please refer to slides at the end of this presentation for reconciliation to the equivalent GAAP measure. Prior period reconciliations availabl
Slide 21: End Notes
End Notes These notes refer to metrics and/or defined terms presented on: Slide 12 GAAP Balance Sheet 1. This reflects a non-GAAP measure, and it reflects the assets bracketed above less the liabilities bracketed above. Trading Capital at 12/31/24, 3/31/25, 6/30/25, and 9/30/25 also include digital