Presentation: Annual General Meeting 2020 (19 May 2020)

Theodor Weimer

CEO

19 May 2020

Annual General Meeting of

Deutsche Börse Aktiengesellschaft

Group financials
2019 (€m)
Net revenue	Net profit	EBITDA		Operating cost
+6%	+10%	+5%		+8%
				+5% (organic)
2,936
2,770
		1,729	1,813
	1,106			1,046	1,130
	1,003
					2018
					2019
Note: Adjusted for exceptional items; operating costs and EBITDA FY/18 non-GAAP indicative figures

Target for secular growth achieved

Target for net profit achieved

Cost reductions of

>€m100 over three years very well on track

Deutsche Börse Group

1

Achievements 2019: Secular growth (I/II)

(€m)

Eurex				EEX
Net revenue	EBITDA		Net revenue	EBITDA
+2%	+4%		+13%	+17%
936	957
		642	666
				289
				257
						138

360T

Net revenueEBITDA

+17% +22%

Eurex: New products as growth drivers

EEX: Successful international strategy

119

Note: Adjusted for exceptional items; operating costs and EBITDA FY/18 non-GAAP indicative figures

79

92

34 42

2018

2019

360T: Strong profitable growth

Deutsche Börse Group

2

Achievements 2019: Secular growth (II/II)

(€m)

Eurex OTC-Clearing

Net revenue

• +61%

41

26

IFS

Net revenue		EBITDA
+19%		+22%
183
154

88

72

2018

2019

Eurex OTC-Clearing: Strong increase in net revenue

IFS: Strengthening of distribution services

Note: Adjusted for exceptional items; operating costs and EBITDA FY/18 non-GAAP indicative figures

Deutsche Börse Group

3

Achievements 2019/20: Acquisitions and partnerships

Qontigo	Expansion of data and analytics

Fondcenter AG	Entry into fund distribution

MSCI	Partnership in index derivates

Deutsche Börse Group

4

Achievements 2019/20: Technology

Microsoft

Google CloudCloud: With new cooperations, a pioneer in the financial industry

SAP

HQLAx	Blockchain: Together with our clients, an innovator in the capital markets

Deutsche Börse Group

5

Dividend per share and pay-out

2019

Pay-out ratio (%)

55

54

53

49

48

€2.25

€2.35

+7%

€2.90

€2.70

€2.45

Distribution of 40-60% of net profit envisaged

Business development and continuity considered

Remaining funds planned to be reinvested primarily into external development

20152016201720182019

Note: Adjusted for exceptional items

(Proposal)

Deutsche Börse Group

6

Group financials
Q1/2020 (€m)
Net revenue	Net profit	EBITDA	Operating cost
+27%	+33%	+30%	+17%
			+10% (organic)
915
721
			620
		476
		387
	292		291
			249
			Q1 2019
			Q1 2020
Note: Adjusted for exceptional items

Exchanges in high demand during periods of uncertainty

Good foundation for 2020

Results should not be extrapolated for the whole year

Deutsche Börse Group

7

Outlook 2020

Net profit guidance

(€m)

Mid-term target

		+10-15% CAGR
		+10%	~1,200
	+17%
	1,106
	1,003
857
2017	2018	2019	2020E

Note: Adjusted for exceptional items

Targets of "Roadmap 2020" achieved (14% net profit CAGR 2017-19)

Outlook 2020

Secular growth of net revenue of at least 5%

Growth of adjusted net profit to around €1.20bn

Deutsche Börse Group

8

Disclaimer

Cautionary note with regard toforward-lookingstatements:This document contains forward-looking statements and statements of future expectations that reflect management's current views and assumptions with respect to future events. Such statements are subject to known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied and that are beyond Deutsche Börse AG's ability to control or estimate precisely. In addition to statements which are forward-looking by reason of context, the words 'may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential, or continue' and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those statements due to, without limitation, (i) general economic conditions, (ii) future performance of financial markets, (iii) interest rate levels (iv) currency exchange rates (v) the behaviour of other market participants (vi) general competitive factors (vii) changes in laws and regulations (viii) changes in the policies of central banks, governmental regulators and/or (foreign) governments (ix) the ability to successfully integrate acquired and merged businesses and achieve anticipated synergies (x) reorganization measures, in each case on a local, national, regional and/or global basis. Deutsche Börse AG does not assume any obligation and does not intend to update any forward-looking statements to reflect events or circumstances after the date of these materials.

No obligation to update information:Deutsche Börse AG does not assume any obligation and does not intend to update any information contained herein.

No investment advice:This presentation is for information only and shall not constitute investment advice. It is not intended for solicitation purposes but only for use as general information.

All descriptions, examples and calculations contained in this presentation are for illustrative purposes only. © Deutsche Börse AG 2020. All rights reserved.