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    TASE   IL0011590291

THE TEL-AVIV STOCK EXCHANGE LTD.

(TASE)
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End-of-day quote TEL AVIV STOCK EXCHANGE  -  2022-08-15
16.35 ILS   -1.62%
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TEL AVIV STOCK EXCHANGE : TASE) INVESTORS PRESENTATION Q1 2022

05/24/2022 | 10:59am EDT

Tel-Aviv Stock Exchange (TASE)

Investors Presentation

First quarter 2022

1

IMPORTANT: You must read the following before continuing. The following applies to the presentation with respect to The Tel-Aviv Stock Exchange Limited and its subsidiaries and affiliates (collectively, "TASE"). In accessing the presentation, you agree to be bound by the following terms and conditions.

The presentation does not constitute or form part of, and should not be construed as an offer or the solicitation of an offer to subscribe for or purchase the securities of TASE, and nothing contained therein shall form the basis of or be relied on in connection with any contract or commitment whatsoever, nor does it constitute a recommendation regarding the securities. Any investment decision in respect of the securities should be made solely on the basis of the information to be contained in the public reports of TASE.

The information in the presentation is basic and concise while the public reports of TASE contain more detailed information which may be different from, or additional to, the information contained in this presentation. In the event of any contradiction or discrepancy between the presentation and the public reports, the information in the public reports prevails. Thus, the presentation is not intended to serve as a substitute to reading TASE's public reports.

The Information contains statements and information that are forward-looking. Such forward-looking statements and information are only predictions and cannot assure TASE's future performance. Investors have been cautioned that any such forward-looking statements and information are subject to many risks and uncertainties relating to the operations and business of TASE. As a result of such risks and uncertainties, the actual results of TASE may be materially different from any future result expressed or implied in the forward-looking statement or information contained herein. Any opinions expressed in this presentation are subject to change without notice and TASE is not under obligation to update or keep current any of the forward-looking statement or information contained herein.

No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained therein. The information, including but not limited to forward-looking statements, applies only as of the date of this presentation and is not intended to give any assurances as to future results. TASE expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the information, including any financial data or forward-looking statements, and will not publicly release any revisions it may make to the information that may result from any change in TASE's expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date of this document

2

TASE at a Glance / Q1'22 by the Numbers

Established in 1953, TASE is the only Securities Exchange in Israel and a cornerstone of its growing capital market

Average Daily Turnover

(NIS Billions)

(NIS Billions)

('000 Contracts)

2.6

3.7

169

Shares

Bonds(1)

Derivatives(2)

40% Y-o-Y Growth

18% Y-o-Y Reduction

6% Y-o-Y Growth

Market Capitalization

(NIS Billions)

(NIS Billions)

(NIS Billions)

1,211 1,117

126

Shares

Bonds(1)

T-Bills

28% Y-o-Y Growth

4% Y-o-Y Growth

38% Y-o-Y Growth

Financial Metrics

(NIS Millions)

(NIS Millions)

(NIS Millions)

97.7

36.8

14.9

Revenue

Adj. EBITDA

Adj. net profit

25% Y-o-Y Growth(4)

50% Y-o-Y Growth

50% Y-o-Y Growth

Listings and Offerings

548

(NIS Billions)

(NIS Billions)

7.5

41

Companies with

Equity Raised

Bonds Raised(3)

Share Listings

20% Y-o-Y Growth

41% Y-o-Y Reduction

TASE plays a critical role in the market infrastructure of Israel as well as the overall growth of its economy

  • "Home court" for Israeli companies looking to raise capital
  • Primary source of capital raising for the Israeli government
  • Only clearing house infrastructure in Israel, including clearing/ settlement of mutual funds (major retail investing channel)
  1. Includes corporate, government bonds ,ETFs and structured bonds.
  2. Excludes options on single shares and TA-Banks indices.
  3. Includes corporate, government and structured bonds.

(4) 7% of the increase in revenue is due to the update of the period of revenue recognition from

listing fees on shares and ETFs pursuant to International Financial Reporting Standard,3 "Revenue from Contracts with Customers" (IFRS 15).

The results for Q1'22

NIS, in thousands

Quarter Ended

IFRS (GAAP)

March 31, 2022

March 31, 2021

Difference -%

Revenue from services

97,676

78,370

25%(1)

Expenses

73,406

65,674

12%

Profit before financing income, net

24,270

12,696

91%

Financing income (expenses)

(5,207)

134

)3,986%(

Taxes on income

4,344

3,169

37%

Profit for the quarter

14,719

9,661

52%

Diluted EPS (in NIS)

0.141

0.093

52%

Non GAAP

Adjusted EBITDA(2)

36,849

24,556

50%

% EBITDA Adjusted margin

38%

31%

Adjusted net profit(2)

14,850

9,894

50%

% Adjusted net profit margin

15%

13%

Revenue

(NIS Millions)

25%

Y-o-Y Growth(1)

Adjusted EBITDA

(NIS Millions)

50%

Y-o-Y Growth

Adjusted net profit

(NIS Millions)

50%

Y-o-Y Growth

97.7

78.4

Q1'21Q1'22

36.8

24.6

Q1'21Q1'22

14.9

9.9

Q1'21Q1'22

  1. 7% of the increase in revenue is due to the update of the period of revenue recognition from listing fees on shares and ETFs pursuant to International Financial

Reporting Standard, "Revenue from Contracts with Customers" (IFRS 15).

4

(2) Adjusted EBITDA and Adjusted Net Profit exclude expenses in respect to share-payments.

Revenue Q1'22

NIS, in thousands

Quarter Ended

% of the

% of the

March 31,

Company's

March 31,

Company's

Difference -%

2022

total

2021

total

revenues

revenues

Trading and

clearing

39,445

40%

34,115

44%

16%

commissions

Listing fees and

24,789

25%

16,402

21%

51%

levies

Clearing House

17,352

18%

15,051

19%

15%

services

Data

distribution and

14,299

15%

12,630

16%

13%

Connectivity

services

Other revenue

1,791

2%

172

0%

941%

Total revenue

97,676

100%

78,370

100%

25%

15% of the increase in revenue from trading and clearing commissions is due to the higher share trading volumes compared to the corresponding quarter last year, and 3% of the increase in revenue is due to an increase (two trading days) in the number of trading days this quarter compared to the corresponding quarter last year.

36% of the increase in revenue from listing fees and levies is due to the updating of the estimate concerning the period of recognition of revenue from listing fees on shares and ETFs pursuant to International Financial Reporting Standard, "Revenue from Contracts with Customers" (IFRS 15), and to a 15% increase in revenue from listing fees and levies as a result of an increase in the number of companies.

8% of the increase in revenue from Clearing House services is due to an increase in Clearing House services to members, and 6% of the increase is due to the rise in revenue from custodian fees as a result of the increase in the value of assets that are held in custodianship at TASE-CH.

6% of the increase in revenue from data distribution and connectivity services is due to a rise in revenue from connectivity services and 6% of the increase is due to the updating of the pricelist during 2021 for customers outside Israel.

The revenue for the quarter includes revenue from the sale of technological consulting services of NIS 0.7 million, revenue from the Conference Center and trade openings of NIS 0.6 million, and NIS 0.4 million from the rent of an office floor.

40% transactional

60% non-transactional

2%

15%

Q1'22 40%

Revenue

18% 97.7

25%

Trading and clearing commissions

Listing fees and levies

Clearing House services

Data distribution and connectivity services

Other revenue

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

TASE - Tel Aviv Stock Exchange Ltd. published this content on 24 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 May 2022 14:58:04 UTC.


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Financials
Sales 2022 367 M 113 M 113 M
Net income 2022 81,2 M 24,9 M 24,9 M
Net Debt 2022 - - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 1 668 M 512 M 512 M
Capi. / Sales 2022 4,54x
Capi. / Sales 2023 4,28x
Nbr of Employees 258
Free-Float 99,4%
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Number of Analysts 1
Last Close Price 16,35 ILS
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Spread / Average Target 28,4%
Managers and Directors
Ittai Ben Zeev Chief Executive Officer
Yehuda Menachem van der Walde Chief Financial Officer & Executive Vice President
Salah Saabneh Chairman
Uri Shavit EVP, Chief Information & Operation Officer
Adi Barkan EVP, Chief Compliance & Enforcement Officer
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