OVERVIEW OF 2019 FINANCIAL TARGETS1 Core business Selected Total growth initiatives Revenues1 +2% CAGR 2015-19E +3% CAGR 2015-19E +5% CAGR 2015-19E +€39m +€70m €575m Costs1 -3% CAGR 2015-19E +4% CAGR 2015-19E +1% CAGR 2015-19E -€23m2,3 +€35m €219m Volume impact Adding value to issuers 61-63% Drivers / targets EBITDA margin Yield pressure Adding value to investors 1.Revenues and operating expenses excluding clearing derivatives agreement AGILITY FOR GROWTH 2.Including inflation adjustment, assuming 1% per year over the period 3.Including Q1 2016 cost reductions 109