Bolsa Mexicana (BOLSAA) investor relations material

Executive summary

• Revenue grew 8% year-over-year to $1,198 million pesos in Q2 2026, driven by transactional and subscription businesses and robust market dynamics, despite peso appreciation against the USD.

• Net income increased 2% year-over-year to $407 million pesos, with EBITDA up 5% to $662 million pesos and a margin of 55.3%.

• Capital formation activity was strong, with notable new issuers and oversubscribed bond offerings.

• Strategic transformation continues with the Digital Evolution program, aiming to modernize operations and support long-term growth.

• Expenses rose 13% year-over-year to $605 million pesos, mainly due to higher personnel, technology, and depreciation costs.

Financial highlights

• Revenues grew MXN 91 million, or 8% year-over-year, with all business lines contributing; 2Q26 revenue was $1,198 million pesos and 6M26 revenue was $2,409 million pesos, both up 8% YoY.

• Operating income for H1 2026 was MXN 52 million, up 4%; EBITDA reached MXN 1.3 billion, up 5%, with a 56% margin.

• Earnings per share were MXN 0.74 for the quarter (up 3% YoY) and MXN 1.53 for H1 (up 2.3% YoY).

• Financial income declined MXN 37 million YoY due to lower returns from a 150 bps drop in Banxico's reference rate.

• Operating margin contracted to 50% in 2Q26 from 52% in 2Q25.

Outlook and guidance

• High single-digit to low double-digit top-line growth expected to continue, supported by strong trading activity and dynamic capital markets.

• Investment phase to continue through 2027-2028, with margin expansion expected as transformation initiatives are completed.

• Two major transformation waves to be operational in 2027, supporting revenue growth; third wave expected by 2028.

• Ongoing investments in technology and digital evolution expected to continue.