Jefferies Financial Group (JEF) Corporate presentation summary

Business overview and strategy

• Operates as a global, full-service investment banking firm with expertise in advisory, underwriting, equities, fixed income, alternative assets, and wealth management.

• Maintains a client-focused approach and a global footprint across the Americas, Europe, Middle East, and Asia-Pacific.

• Built on a robust long-term funding and capital base, with comparatively low leverage and no dependence on government support.

• Continues to broaden product offerings and hire key talent to drive market share growth.

Financial performance

• Net revenues for the last twelve months ended May 31, 2026, were $8,340 million, with net earnings of $868 million.

• Second quarter 2026 net revenues were $2,206 million, with net earnings of $250 million.

• Revenue sources are diversified across investment banking (advisory and underwriting), capital markets (equities and fixed income), asset management, and other investments.

Liquidity, funding, and leverage

• Maintains a highly liquid balance sheet with total assets of $79.5 billion and leverage of 7.5x as of May 31, 2026.

• Tangible gross leverage stands at 9.0x, with long-term capital of $25.3 billion.

• 77% of financial instruments owned are readily financeable at haircuts of 10% or less; Level 3 instruments represent only ~3% of inventory.

• No material reliance on short-term unsecured funding or customer balances; no commercial paper program.

• Liquidity pool consistently exceeds $10 billion, representing over 15% of total assets.