Clear Street Group (CSIG) investor relations material

Company overview and business model

• Operates a cloud-native, end-to-end capital markets platform unifying trading, risk management, and financing on a single real-time ledger.

• Serves individuals, institutions, intermediaries, and corporates, providing access to multiple asset classes and geographies.

• Generates revenue primarily from net financing (margin, stock loan, custody) and transaction fees (commissions, clearing, investment banking).

• Platform supports over $31.3B in daily trading activity and $17.7B in interest-bearing client balances as of December 2025.

• Differentiated by unified infrastructure, real-time data, and rapid application deployment.

Financial performance and metrics

• Nine months ended September 30, 2025: $783.7M revenue (+160% YoY), $157.2M net income.

• Year ended December 31, 2024: $463.6M revenue (+137% YoY), $89.1M net income.

• Estimated 2025 net revenues: $1.04B–$1.06B; net income: $220M–$236M; Adjusted EBITDA: $460M–$484M.

• Interest-bearing client balances grew 203% in 2024 to $7.8B; average daily trades and volume also increased significantly.

• Adjusted EBITDA margin expanded to 46.3% for the nine months ended September 30, 2025.

Use of proceeds and capital allocation

• Net proceeds of ~$311.8M (or ~$361.3M if full over-allotment exercised) expected, assuming $27.00/share IPO price.

• Proceeds to be used for working capital, capital expenditures, general corporate purposes, and potential acquisitions.

• No current plans to redeem Series A preferred stock with IPO proceeds.