Intercontinental Exchange (ICE) J.P. Morgan Ultimate Services Investor Conference 2024 summary

Macroeconomic and regulatory outlook

• Anticipates potential deregulation under a new administration, which could benefit the energy business, especially with increased infrastructure and export opportunities.

• Focused on home affordability and transparency in mortgage markets, positioning to advance industry efficiency.

• Demonstrates adaptability and growth through various regulatory and macroeconomic environments.

M&A and growth strategy

• Integration of Black Knight and organic growth are current priorities, but M&A remains a tool for optimizing growth.

• Over 30 bolt-on acquisitions have supplemented growth across asset classes, especially in energy.

• M&A approach is opportunistic, not size-driven, and depends on available opportunities.

• Significant organic investment opportunities exist across asset classes; M&A is not a necessity.

Exchange business performance and outlook

• Energy business has seen impressive growth: 23% YoY in Q3, following 40%+ growth the previous year.

• Open interest in energy up 20% YoY, with broad-based product growth, supporting confidence for continued expansion.

• Positioned to benefit from global energy consumption growth, especially in Asia and LNG markets.

• Environmental products, though a smaller segment, are expected to grow as energy sources diversify.