TMX Group (X) investor relations material

Executive summary

• Achieved record revenue of CAD 488.2 million in Q1 2026, up 16% year-over-year, with double-digit growth across all segments and strong operational performance from higher listings, trading volumes, and recurring revenue streams.

• Organic revenue (excluding recent acquisitions) rose 14% year-over-year; adjusted diluted EPS increased 33% from Q1 2025.

• Diluted EPS rose 111% to CAD 0.80, including CAD 0.21 per share from litigation and related items.

• Announced agreements to acquire Cboe Australia and Cboe Canada for USD 300 million, aiming to expand global presence, pending regulatory approvals.

Financial highlights

• Q1 2026 revenue grew 16% year-over-year and 7% sequentially, reaching CAD 488.2 million.

• Adjusted diluted EPS up 33% year-over-year to CAD 0.65; reported diluted EPS up 111% due to a non-recurring legal settlement.

• Net income attributable to equity holders more than doubled to CAD 224.6 million, up 112% year-over-year.

• Operating expenses increased 5% to CAD 249.6 million, mainly due to acquisitions and higher amortization.

• Cash flows from operating activities decreased 9% to CAD 110.8 million.

Outlook and guidance

• Positioned for continued growth in 2026 and beyond, supported by diversified revenue streams, operational efficiency, and international expansion.

• Ongoing focus on integrating Cboe acquisitions and exploring further M&A opportunities.

• Forward-looking statements highlight objectives for recurring revenue growth, adjusted EPS CAGR, and disciplined expense management.