Presentation (lseg q1 trading update results presentation23apr2026)

Q1 2026 Trading Update

• 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

1. Total Income (excl. recoveries)

   ‌Delivering strong, broad-based growth across all divisions

   (GBP million)	Q1 2026	Q1 2025	Reported growth vs Q1 2025	Organic growth1 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%
   Recoveries3	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%

   1. Organic, constant currency growth

   2. Totals include other income of £2 million in Q1 2026 and £2 million in Q1 2025

   3. Recoveries mainly relate to fees for third-party content, such as exchange data, that is distributed directly to customers

LSEG | 3

organic, constant currency

income1 growth,

including an acceleration in our subscription businesses' organic growth2

Revenue

EBITDA

Margin

improvement in constant

currency EBITDA margin

Capex

of total income1

Equity free cash flow

At least

1. Total income excluding recoveries

2. Subscription businesses consist of the Data & Analytics, FTSE Russell and Risk Intelligence divisions

3. Includes 30bps contribution from the change in the SwapClear revenue share agreement

4. Based on foreign exchange rates of £1 = $1.32 and €1.17

LSEG | 4

~£0.3bn

~£4.2bn

Completed in Q1 2026

£2.3bn

Remaining portion of FY 2025 buyback

First tranche of FY 2026

buyback

Remaining FY 2026

buyback1

FY 2025 final dividend

(paid May 2026)

H1 2026

dividend

Total capital return (Jan 2026

to Feb 2027)

LSEG | 5

1. 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.

Continued strong growth in customer adoption1

154

25

64

MCP onboarding 92

9

23 December 20 February 20 April

Global adoption2

25%

35%

40%

Asia EMEA US

Broad-based interest2

20%

50%

30%

Buyside Sellside Corporate

Variety of AI channels2

15%

40%

45%

Direct Claude

ChatGPT & others3

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

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

Scaling data adoption via new

channels

LSEG | 8

+17%

+7%

notional cleared nominal value

Trading Clearing

Trading Clearing

+60%

ADV of interest rate derivatives

+40%

Notional cleared in interest rate swaps

+12%

ADV of cash credit instruments

Trading Clearing

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

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

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

Record quarterly

growth

Driving adoption

of AI solutions

Scaling

delivery of innovative products

Agile

capital

allocation

LSEG | 11

LSEG | 11

Revenue

Mid to high single digit

growth1 in total income2, including acceleration in subscription businesses3

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 income2

in 2029

1. Organic, constant currency

2. Total income excluding recoveries

3. 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: peregrine.riviere@lseg.com

Chris Turner

Investor Relations Senior Director Tel: +44 (0)7 769 931 614

Email: chris.turner@lseg.com

Neha Kasabia

Investor Relations Director Tel: +44 (0)7 929 048 221

Email: neha.kasabia@lseg.com

Sharon Muzikarova Investor Relations Manager Tel: +44 (0)7 855 979 509

Email: sharon.muzikarova@lseg.com

Contacts and further information

For investor relations information: lseg.com/investor-relations