Deutsche Boerse Ag · XETR:DB1

Deutsche Boerse — Deutsche Börse Group — Q1 2013 Earnings Presentation

20 slides from Deutsche Boerse's earnings presentation, Apr 30, 2013

1. Slide 1: Q1/2013 Results Analyst and Investor Conference

   Q1/2013 Results Analyst and Investor Conference 30 April 2013

2. Slide 2: Overview Q1/2013 Results Conference

   Q1/2013 Results 30 April 2013 Deutsche Börse Group 1 Overview Q1/2013 Results Conference  Sequential improvement of business activity in all major products in the first quarter 2013 due to more favorable cyclical drivers  As per 1 January 2013 the new reporting segment Market Data + Services has b

3. Slide 3: Q1/2013 – Sequential Volume Improvement Across All Products

   Q1/2013 Results 30 April 2013 Deutsche Börse Group 2 Q1/2013 – Sequential Volume Improvement Across All Products Eurex – European Derivatives Eurex – US Options 522 166 166 157 409 162 393 401 148 152 87 336 82 85 121 129 77 116 144 104 198 228 189 151 171 Q1/12 Q2/12 Q3/12 Q4/12 Q1/13 Q1/12 Q2/12 Q

4. Slide 4: Q1/2013 – Adjusted Earnings Per Share Amounted To €0.92

   Q1/2013 Results 30 April 2013 Deutsche Börse Group 3 Q1/2013 – Adjusted Earnings Per Share Amounted To €0.92 Net revenue Operating costs Earnings per share €m1 €m2 €2,3 507 507 1.01 1.01 471 484 448 0.92 0.87 0.64 247 230 226 224 226 Q1/12 Q2/12 Q3/12 Q4/12 Q1/13 Q1/12 Q2/12 Q3/12 Q4/12 Q1/13 Q1/12

5. Slide 5: Q1/2013 – Year-over-year Decline Of Net Revenue Mainly Driven By Lower Net Interest Income

   Q1/2013 Results 30 April 2013 Deutsche Börse Group 4 Q1/2013 – Year-over-year Decline Of Net Revenue Mainly Driven By Lower Net Interest Income Net revenue and EBIT €m1 Net revenue EBIT Revenue  Net revenue: €484.3m (-4% y-o-y)  Net interest income: €8.2m (-56% y-o-y) 507 507  Volume related cost

6. Slide 6: New Reporting Segment Market Data + Services Comprises Data And Technology Services

   Q1/2013 Results 30 April 2013 Deutsche Börse Group 5 New Reporting Segment Market Data + Services (MD+S) Comprises Data And Technology Services Of Deutsche Börse Group Net revenue & EBIT reconciliation 2012  As part of the strategy to expand the technological 1,932 1,932 leadership, the former Mark

7. Slide 7: Eurex – Strong Growth In Fixed Income Derivatives Volumes

   Q1/2013 Results 30 April 2013 Deutsche Börse Group 6 Eurex – Strong Growth In Fixed Income Derivatives Volumes Helped To Achieve Flat Year-over-year Net Revenue Business activity Q1/2013 y-o-y Net revenue Traded contracts in m €m US Options 157.1 -6% 214 198 197 26 186 22 26 Others 25 20 170 Equity

8. Slide 8: Xetra – Sequential Recovery Of Net Revenue

   Q1/2013 Results 30 April 2013 Deutsche Börse Group 7 Xetra – Sequential Recovery Of Net Revenue Business activity Q1/2013 y-o-y Net revenue Order book volume in €bn1 €m DAX equities 186.4 -18% 42 6 37 36 34 Other equities 46.6 2% 7 31 8 Others 9 6 6 8 7 7 CCP ETFs2 33.4 -15% 6 Other 4.0 -29% 27 23 2

9. Slide 9: Clearstream – Net Revenue Decline Mainly A Result Of Lower Net Interest Income

   Q1/2013 Results 30 April 2013 Deutsche Börse Group 8 Clearstream – Net Revenue Decline Mainly A Result Of Lower Net Interest Income Business activity Q1/2013 y-o-y Net revenue €m Assets under 172 €11.4tr 3% custody 163 160 159 28 155 26 26 28 Others Settlement 27 30.3m -1% 19 transactions 14 12 8 NI

10. Slide 10: Market Data + Services – Stable Development Despite Cyclical Headwinds

    Q1/2013 Results 30 April 2013 Deutsche Börse Group 9 Market Data + Services – Stable Development Despite Cyclical Headwinds In Real-time Data Distribution Composition of new segment Net revenue Trading signals €m  Distribution of licenses for derivatives and cash real- time trading and market signa

11. Slide 11: Overview Management Priorities For 2013

    Q1/2013 Results 30 April 2013 Deutsche Börse Group 10 Overview Management Priorities For 2013 1 Extend products and services to unregulated/unsecured markets  Expand Eurex clearing/risk management capabilities  Global roll-out of collateral and liquidity management services Growth 2 Expand technol

12. Slide 12: Growth – Some Major Milestones Of Growth Strategy Already Achieved

    Q1/2013 Results 30 April 2013 Deutsche Börse Group 11 Growth – Some Major Milestones Of Growth Strategy Already Achieved  Agreement with major derivatives dealers on EurexOTC Clear offering for interest rate swaps in May 2012; launch of service in November 2012; first buy-side clients connected  P

13. Slide 13: Growth – Net Revenue Contribution From New Products Has Grown To Almost €100 Million

    Q1/2013 Results 30 April 2013 Deutsche Börse Group 12 Growth – Net Revenue Contribution From New Products Has Grown To Almost €100 Million In 2012 Net Revenue contribution from new products Examples for new products €m Eurex +45  Product introductions in existing asset classes: e.g. MSCI Russia/Jap

14. Slide 14: Cost Management – Measures To Further Increase The Operating Efficiency

    Q1/2013 Results 30 April 2013 Deutsche Börse Group 13 Cost Management – Measures To Further Increase The Operating Efficiency Create Flexibility To Increase Investments In Growth Efficiency measures Ramp-up of cost savings  Planned savings in personnel and non-personnel 100% costs of €70 million pe

15. Slide 15: Capital Management – Refinancing Of Long Term Debt Results In Significant Decrease Of Debt Financing Expenses

    Q1/2013 Results 30 April 2013 Deutsche Börse Group 14 Capital Management – Refinancing Of Long Term Debt Results In Significant Decrease Of Debt Financing Expenses Overview refinancing Debt financing costs (part of financial expenses) €m First tranche (Oct 2012) -29  First tranche of refinancing co

16. Slide 16: Capital Management – Dividend Proposal Of €2.10 For 2012

    Q1/2013 Results 30 April 2013 Deutsche Börse Group 15 Capital Management – Dividend Proposal Of €2.10 For 2012 Capital Management Policy Regular dividend per share  Continuing past practice, Deutsche Börse distributes Pay-out ratio (%) funds not required for the Group’s operating 49 50 51 38 56 54

17. Slide 17: Appendix

    Q1/2013 Results 30 April 2013 Deutsche Börse Group 16 Appendix

18. Slide 18: Income Statement – Group Level Reported

    Q1/2013 Results 30 April 2013 Deutsche Börse Group 17 Income Statement – Group Level Reported Quarter ended Quarter ended 31 March 2013 31 March 2012 Sales revenue 541.2 552.4 Net interest income from banking business 8.2 18.5 Other operating income 5.2 2.8 Total revenue 554.6 573.7 Volume-related c

19. Slide 19: Income Statement – Segmental Level Reported

    Q1/2013 Results 30 April 2013 Deutsche Börse Group 18 Income Statement – Segmental Level Reported Eurex Xetra Clearstream Market Data + Services Q1/2013 Q1/2012 Q1/2013 Q1/2012 Q1/2013 Q1/2012 Q1/2013 Q1/2012 Sales revenue1) 222.2 217.9 40.4 46.7 187.6 194.8 99.3 102.2 Net interest income from banki

20. Slide 20: Disclaimer

    Q1/2013 Results Disclaimer Cautionary note with regard to forward-looking statements: This document contains forward-looking statements and statements of future expectations that reflect management's current views and assumptions with respect to future events. Such statements are subject to known an

Deutsche Börse Group — Q1 2013 Earnings Presentation on 6ix