Intercontinental Exchange (ICE) investor relations material

Business performance and growth drivers

• Energy futures volumes are up over 60% year-to-date, with robust growth across a broad suite of contracts and regions, driven by product innovation and structural trends in global energy markets.

• Growth is not reliant on volatility but on expanding product offerings and addressing customer risk management needs, enabling consistent performance across macroeconomic cycles.

• The leadership aims to leverage technology, data, and expertise to expand into adjacent markets, focusing on efficiency and transparency across asset classes over the next 5–10 years.

• High-quality proprietary data is seen as a key asset, especially as AI adoption increases demand for real-time, unique datasets.

• Recent initiatives include tokenization in equities, Treasury clearing, and leveraging existing infrastructure for new regulatory and market opportunities.

Mortgage technology and platform integration

• Integration of Ellie Mae and Black Knight has created a unified platform, enhancing efficiency and reducing mortgage origination costs by an estimated $2,000 per loan.

• The combined platform targets high single-digit growth in a normalized environment, with recent years impacted by industry-wide origination declines.

• Achieved $100 million in revenue synergies, with a target of $125 million by 2028, as large banks adopt the integrated solution.

• Tier-one client bookings are being monetized gradually, with about one-third of synergy revenue currently in the run rate and more expected in coming years.

Data and network technology segment

• Data and network technology grew 5% in 2024, 7% in early 2025, and reached double-digit growth in late 2025, with high single-digit growth expected in 2026.

• Growth is driven by desktop and feeds businesses, as well as surging demand for connectivity and data capacity through the ICE Global Network.

• AI and increased data consumption are fueling demand, with ongoing investments in infrastructure to meet future needs.