London Stock Exchange : Presentation (lseg q1 trading update results presentation23apr2026)

About this update from London Stock Exchange Group Plc

‌More valuable in an AI world Q1 2026 Trading Update ‌Delivering record performance and high pace of innovation Record Q1 performance Delivering transformative products 9.8% 1 growth; strongest performance in >5 years Exceptional growth in Markets revenues; accelerating subscription growth Strong start to delivery of 2026 targets £1.1bn of capital returned in Q1; further ~£3.1bn anticipated in next 12 months Continuing adoption of our trusted data in AI channels: >150 customers connected or onboarding Delivering transformative AI products: enhancing ~3,000 Workspace users Accelerating innovation: Private Securities Market, Digital Markets, FTSE Russell digital asset indices, Sanctioned Securities screening LSEG | 2 Total Income (excl. recoveries) ‌Delivering strong, broad-based growth across all divisions (GBP million) Q1 2026 Q1 2025 Reported growth vs Q1 2025 Organic growth 1 vs Q1 2025 Data & Analytics 1,025 1,004 2.1% 5.1% FTSE Russell 248 238 4.2% 8.8% Risk Intelligence 153 143 7.0% 10.5% Subscription Businesses 1,426 1,385 3.0% 6.3% Markets 987 874 12.9% 15.5% Total Income (excl. recoveries) 2 2,415 2,261 6.8% 9.8% Recoveries 3 93 93 0.0% 3.1% Cost of Sales (289) (308) (6.2%) (2.9%) Gross Profit 2,219 2,046 8.5% 11.5% Organic, constant currency growth Totals include other income of £2 million in Q1 2026 and £2 million in Q1 2025 Recoveries mainly relate to fees for third-party content, such as exchange data, that is distributed directly to customers LSEG | 3 ‌Strong start to delivery of 2026 guidance Confident of delivery in the upper half of guidance range 6.5-7.5% organic, constant currency income 1 growth, including an acceleration in our subscription businesses' organic growth 2 Revenue EBITDA Margin 80-100bps 3 improvement in constant currency EBITDA margin Capex c.9.5% of total income 1 Equity free cash flow At least £2.7 billion 4 2026 adjusted tax rate: 24 - 25% Total income excluding recoveries Subscription businesses consist of the Data & Analytics, FTSE Russell and Risk Intelligence divisions Includes 30bps contribution from the change in the SwapClear revenue share agreement Based on foreign exchange rates of £1 = $1.32 and €1.17 LSEG | 4 ‌Returning ~£4.2bn to shareholders ~£0.3bn ~£4.2bn Completed in Q1 2026 £0.4bn £0.7bn £0.5bn £2.3bn Remaining portion of FY 2025 buyback First tranche of FY 2026 buyback Remaining FY 2026 buyback 1 FY 2025 final dividend (paid May 2026) H1 2026 dividend Total capital return (Jan 2026 to Feb 2027) LSEG | 5 Remaining buyback reflects the £3.0bn planned buyback announced in FY2025 results and running until the end of Feb 2027, less the £0.7bn of that programme completed in Q1 2026. Expanding content throughout 2026 Deals and ownership data Transcripts and filings Macroeconomic data Commodities data and analytics News, incl. Reuters news, IFR 4 Lipper fund data and analytics FTSE Russell: fixed income, equity and multi-asset indices ‌Driving industry adoption of our AI-ready data via MCP connectors Continued strong growth in customer adoption 1 154 67 25 90 64 MCP onboarding 92 MCP connected 9 23 December 20 February 20 April Global adoption 2 25% 35% 40% Asia EMEA US Broad-based interest 2 20% 50% 30% Buyside Sellside Corporate Variety of AI channels 2 15% 40% 45% Direct Claude ChatGPT & others 3 1. 2. 3. 4. No. of customers accessing data via LSEG MCP servers Based on no. of customers Other channels include Snowflake and Databricks International Financing Review LSEG | 6 ‌Building transformative products: Workspace AI Rolling out two powerful AI tools in Workspace Powerful capability designed for broad adoption across Workspace estate Enhancing data discoverability and insights through natural language and LLM tools Enhancing experience of ~1,500 users today; targeting broad availability this quarter Advanced AI solution for complex financial analysis and workflows Very strong positive customer feedback Powering ~1,600 users now; aiming to triple adoption in Q2 Strong pipeline of enhancements to these AI tools, plus additional Workspace AI capabilities 1. Deep Research users by Workspace community Strong buyside traction for 1 4% 6% 12% Corporate Wealth Banking 26% Trading 52% Investment management LSEG | 7 ‌Massive engagement with our platform and data Customers turned to our solutions to Record engagement; users spending more time on Workspace 3x increase 1 in use of Workspace shipping data; 75% greater 1 use of Oil tools 33% growth 2 in Real-Time data traffic; new all time high in early April help them navigate Q1 volatility Scaling data adoption via new Use of Real-Time Optimised up 4x in Q1 2026; ~10% of Real-Time usage 3 44% more 4 data accessed via Analytics API in Q1 39% growth 5 in Tick History usage channels March usage vs. baseline level Q1 yoy growth in data messages Based on no. of RICs accessed Q1 yoy increase in customer calls via Analytics API Q1 yoy growth in total no. of customer server requests LSEG | 8 ‌Our Markets businesses are helping customers manage risk and navigate volatility +17% +7% notional cleared nominal value Interest Rate Swaps Trading Clearing Fixed Income Trading Clearing +60% ADV of interest rate derivatives +40% Notional cleared in interest rate swaps +12% ADV of cash credit instruments Foreign Exchange Trading Clearing Equity Trading UK Pan-European +48% Notional value cleared +36% ADV of value traded +11% ADV of value traded +8% ADV of nominal value traded LSEG | 9 ‌Driving comprehensive innovation across our business Digital Asset Indices Digital Platforms Post Trade Solutions 8 digital asset ETFs switching to FTSE Russell indices in Q1 Digital Settlement House (DiSH) live Q2; Digital Securities Depository launching H2 TradeAgent live Q1, reducing costs and risks for customers Risk Intelligence Private Securities Market Analytics - Model as a Service Innovative solution for monitoring of sanctioned securities live Q1 First transaction in Q1, expanding corporate funding opportunities 3rd-party models available to customers Q1; Post Trade Solutions models live Q2 LSEG | 10 ‌Delivering on our strategy for growth Record quarterly growth Driving adoption of AI solutions Scaling delivery of innovative products Agile capital allocation LSEG | 11 LSEG | 11 ‌Q&A ‌Appendix ‌Medium-term guidance: 2027 - 2029 accelerating subscription growth, strong cash conversion Revenue Mid to high single digit growth 1 in total income 2 , including acceleration in subscription businesses 3 EBITDA Margin c. 150 bps cumulative improvement in underlying EBITDA margin 2027 - 2029 Equity free cash flow Double-digit CAGR in Equity Free Cash Flow per share Capex c. 8% of total income 2 in 2029 Organic, constant currency Total income excluding recoveries Subscription businesses consist of the Data & Analytics, FTSE Russell and Risk Intelligence divisions LSEG | 14 ‌Contacts and further information Peregrine Riviere Group Head of Investor Relations Tel: +44 (0)7 977 379 063 Email: [email protected] Chris Turner Investor Relations Senior Director Tel: +44 (0)7 769 931 614 Email: [email protected] Neha Kasabia Investor Relations Director Tel: +44 (0)7 929 048 221 Email: [email protected] Sharon Muzikarova Investor Relations Manager Tel: +44 (0)7 855 979 509 Email: [email protected] Contacts and further information For investor relations information: lseg.com/investor-relations

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