London Stock Exchange : Annual financial report for LSEGA Financing plc

LSEGA Financing plc

Report and financial statements

For the period ended 31 December 2021

Company registration number 13091751

CONTENTS

PAGE

1 ............................................................................................................................................. . Directors and Officers

2 ....................................................................................................................................................... Strategic Report

4 ......................................................................................................................................................Report

7 ................................................................... IndependentReport to the Member of LSEGA Financing plc

12 .................................................................................................................................................. Income Statement

13 .................................................................................................................... Statement of Comprehensive Income

14 ......................................................................................................................................................... Balance Sheet

15 ............................................................................................................................. Statement of Changes in Equity

16 ......................................................................................................................... Notes to the Financial Statements

DIRECTORS AND OFFICERS

DIRECTORS

R I Kirkpatrick	(appointed 29 July 2021, resigned 13 April 2022)
O Wolfensberger	(appointed 21 April 2022)
C Thomas	(appointed 21 December 2020)
L Condron	(appointed 21 December 2020)
S Atkinson	(appointed 21 December 2020, resigned 19 July 2021)

COMPANY SECRETARY

T Hogan

(appointed 21 December 2020)

REGISTERED OFFICE

10 Paternoster Square London

EC4M 7LS

BANKERS

HSBC Bank plc

City of London Branch 60 Queen Victoria Street London

EC4N 4TR

INDEPENDENT AUDITORS

Ernst & Young LLP 25 Churchill Place Canary Wharf London

E14 5EY

The directors present their strategic report for LSEGA Financing plc (theCompanyfor the long period ended 31 December 2021.

REVIEW OF BUSINESS

theGto assist companies within LSEG. It was incorporated in England and Wales on 21 December 2020, and these are its first financial statements. As such, there are no comparatives.

External debt

In April 2021, the Company issued five senior unsecured bonds using thenewly established Global Medium-Term Note Programme totalling US$4.5 billion with maturities between April 2024 and April 2041. The debt is listed on the Main Market of the London Stock Exchange (a related company).

Interest rate swaps

In February 2021, the Company entered into a series of US$ interest rate swaps with tenors of 3 years, 5 years and 10 years, with aggregate principal amounts of US$500 million, US$1,000 million and US$1,250 million respectively. The interest rate swaps were designated as cash flow hedges with the hedged item being bond issuances that were deemed highly probable at the time. The interest rate swaps were settled in March and April 2021 when the new bonds were issued. At the date of settlement, a gain of US$31.3 million was recognised in the hedging reserve, representing the effective portion of the gain on the hedging instrument. This will be recycled to the income statement over the term of the debt. During the period US$3.1m was recycled to the income statement.

Thetax for the period ended 31 December 2021 was US$5m driven mainly by finance income. Net assets were US$26.5m. Due to the nature of the business, the directors have concluded that there are no other relevant KPIs.

FUTURE DEVELOPMENTS

The Company is expected to continue to provide financial support to Group companies.

EMPLOYEES

The Company has no employees.

PRINCIPAL RISKS AND UNCERTAINTIES

LSEG operates group wide risk management procedures which bring greater judgement to decision making as this allows management to make better, more informed and more consistent decisions based on a clear understanding of the risks involved.

LSEG has adopted a group wide risk management system that provides ongoing formal assurance that all subsidiary companies are appropriately controlling all of the risks to which they are exposed, ensuring that internal controls operate efficiently and effectively.

The Company is subject to a variety of foreseeable and unforeseeable risks and uncertainties which may have an assessment and management of these3

The 1st line (management) is responsible and accountable for identifying, assessing and managing risk. The 2nd line (risk management and compliance) is responsible for defining the risk management process and policy framework and providing challenge to the 1st line on risk management activities assessing risks and reporting to the group board committees on risk exposure.

The 3rd line (internal audit) provides independent assurance to the board and other key stakeholders over the effectiveness of the systems of controls and the risk management framework.

uing changing regulatory environment and the macro economic environment (unfavourable tax regimes, impact of Brexit on ability to conduct business with European Union (EU) members) and increasing cyber security threats.

operational risks arise from ensuring it maintains secure and stable technology performing to high levels of availability. The Company is reliant upon secure premises to protect its assets as well as appropriate safeguards to ensure uninterrupted operation of its IT systems and infrastructure.

By order of the board:

Oliver Wolfensberger Director

LSEGA Financing plc 28 April 2022

REGISTERED OFFICE:

10 Paternoster Square, London, EC4M 7LS