Annual financial statement
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= SGXGroup Financial Results For the Financial Year Ended 30 June 2026 Singapore Exchange Limited Incorporated in the Republic of Singapore Company Registration Number : 199904940D
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SINGAPORE EXCHANGE LIMITED Financial Results for the Financial Year Ended 30 June 2026 Section Content Page 1. Performance Summary 2 2. Income Statement - Group 8 3. Statement of Comprehensive Income - Group 8 4. Detailed Notes on Revenue - Group 9 5. Detailed Notes on Expenses - Group 9 6. Earnings Per Share - Group 10 7. Half Yearly Income Statement - Group 10 8. Adjusted Financial Measures - Group 11 9. Statement of Financial Position - Group 12 10. Net Asset Value - Group 13 11. Borrowings and Debt Securities - Group 13 12. Statement of Cash Flows - Group 14 13. Statement of Changes in Equity - Group 15 14. Segment Information - Group 17 15. Statement of Financial Position - Company 18 16. Net Asset Value - Company 18 17. Statement of Changes in Equity - Company 19 18. Bank Facilities, Contingent Liabilities and Commitments - Group 21 19. Dividend - Company 21 20. Share Capital - Company 22 21. Accounting Policies - Group 23 22. Subsequent Event 23 23. Other Listing Manual Requirements 23 The full year financial results set out in Sections 2 to 6, 9, 11 to 15, 17 to 22 of this announcement have been extracted from the audited financial statements for the full year ended 30 June 2026. The audited financial statements of the Company and its subsidiaries for the full year ended 30 June 2026 is attached to this announcement. Page 1 of 23
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Page 2 of 23 1. Performance Summary Financial Overview FY2026 FY2026 Adjusted* Operating revenue less transaction-based expenses (net revenue) $1,478.3 million, up 13.9% EBITDA $969.3 million, up 17.1% $980.6 million, up 17.9% Net profit attributable to equity holders of the company (NPAT) $698.4 million, up 7.8% $759.5 million, up 24.6% Earnings per share (EPS) 65.3 cents 71.0 cents Proposed final quarterly dividend per share 11.5 cents, up 1.0 cent Proposed additional dividend per share 12.5 cents *Adjusted EBITDA , NPAT and EPS exclude certain non -cash and non -recurring items that have less bearing on SGX’s operating performance. Hence, they better reflect the group’s underlying performance. Adjusted figures are non -SFRS(I) measures. Please refer to Section 8 of our financial results for reconciliations between the adjusted and their equivalent measures. All figures are for FY2026 except for figures in brackets , which are for FY2025 unless otherwise stated . Figures may be subject to rounding. SGX recorded EBITDA of $969.3 million ($827.8 million) and NPAT of $698.4 million ($648.0 million) in FY2026. EPS was 65.3 cents (60.6 cents). Adjusted EBITDA was $980.6 million ($832.0 million) and adjusted NPAT was $759.5 million ($609.5 million). Adjusted EPS was 71.0 cents (57.0 cents). The Board of Directors has proposed a final quarterly dividend of 11.5 cents ( 10.5 cents) per share , and a one-off additional dividend of 12.5 cents per share , both payable on 10 November 2026. If approved, total FY2026 dividends , including the additional dividend, will be 57.0 cents (37.5 cents) per share. Business and Expenses Overview Operating revenue increased $188.8 million or 13.8% to $1,559.5 million ($1,370.6 million). After netting off transaction- based expenses, net revenue1 increased $180.2 million or 13.9% to $1,478.3 million ($1,298.2 million). Excluding treasury income, net revenue increased $175.6 million or 15.0% to $1,343.1 million ($1,167.4 million). Fixed Income, Currencies and Commodities (FICC) FICC net revenue increased $54.7 million or 17.0% to $376.2 million ($321.6 million) and accounted for 25.5% (24.8%) of total net revenue. FICC - Fixed Income Fixed Income net revenue2 increased $2.5 million or 27.0% to $11.6 million ($9.1 million). ▪ Listing revenue: $8.4 million, up 35.5% from $6.2 million ▪ Corporate actions and other revenue: $3.1 million, up 8.3% from $2.9 million There were 1,062 bond listings raising $473.7 billion, compared to 843 bond listings raising $296.0 billion a year earlier. 1 Includes associated treasury income. Treasury income increased $4.5 million. 2 Operating and net revenue for Fixed Income were comparable as transaction-based expenses were immaterial.
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Page 3 of 23 FICC - Currencies and Commodities Currencies and Commodities net revenue increased $52.2 million or 16.7% to $364.7 million ($312.5 million). ▪ Trading and clearing revenue: $333.5 million, up 18.8% from $280.7 million ▪ Treasury and other revenue: $66.9 million, up 11.1% from $60.2 million ▪ Transaction-based expenses: $35.8 million, up 25.6% from $28.5 million The increase in trading and clearing revenue was mainly from higher volumes. SGX FX net revenue increased 12.0% to $126.6 million ($113.0 million) 3. SGX FX headline average daily volume (ADV) increased 33.1% to US$190.2 billion (US$142.9 billion). Commodity derivatives volumes increased 20.6% to 78.8 million contracts (65.3 million contracts), mainly due to higher volumes in iron ore derivatives. Currency derivatives volumes increased 30.8% to 96.4 million contracts (73.6 million contracts), mainly due to higher volumes in INR/USD and USD/CNH FX futures contracts. The increase in commodity volumes drove the increase in transaction-based expenses. Table 1: Exchange-traded Currencies and Commodities Volumes (‘000) FY2026 FY2025 Change Currency derivatives 96,359 73,644 30.8% Iron ore derivatives 70,891 57,924 22.4% Rubber derivatives 3,895 3,958 -1.6% Freight derivatives 2,692 2,250 19.6% Others 2,647 2,270 16.6% Total 176,484 140,047 26.0% Equities – Cash Equities – Cash net revenue increased $110.2 million or 28.1% to $502.9 million ($392.7 million) and accounted for 34.0% (30.3%) of total net revenue. ▪ Listing revenue: $28.6 million, up 8.2% from $26.5 million ▪ Trading and clearing revenue: $302.3 million, up 36.3% from $221.8 million ▪ Securities settlement, depository management, corporate action s and other revenue: $176.7 million, up 19.3% from $148.1 million ▪ Transaction-based expenses: $4.7 million, up 26.7% from $3.7 million We recorded 21 (6) new equity listings which raised $4.1 billion ($25.7 million). Secondary equity funds raised were $3.6 billion ($4.3 billion). Securities daily average traded value (SDAV) increased 34.9% to $1.8 billion ($1.3 billion) and total securities traded value increased 35.5% to $455.7 billion ($336.4 billion). This was made up of Cash Equities 4, where traded value increased by 34.7% to $435.4 billion ($323.2 billion), and Other Products5, where traded value increased 53.4% to $20.3 billion ($13.2 billion). There were 252 (251) trading days in FY2026. Overall average net clearing fees were comparable at 2.61 basis points (bps) (2.59 bps). Turnover velocity (primary-listed) was 44% (41%). 3 SGX FX’s contribution to Group EBITDA was comparable at 5%. 4 Cash Equities include ordinary shares, real-estate investment trusts and business trusts. 5 Other Products include structured warrants, exchange -traded funds, daily leverage certificates , debt securities and Singapore depository receipts.
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Page 4 of 23 The increase in securities settlement, depository management, corporate actions and other revenue was mainly driven by higher-yielding subsequent settlement transactions. Table 2: Key Metrics for Cash Equities Market FY2026 FY2025 Change Total traded value ($ billion) 455.7 336.4 35.5% Period-end total market capitalization ($ billion) 1,129.4 891.2 26.7% ▪ Primary-listed 933.5 735.5 26.9% ▪ Secondary-listed 195.9 155.7 25.8% Turnover velocity (primary-listed) 44% 41% +3%-points Total traded volume (in billion) 406.2 307.6 32.1% Equities – Derivatives Equities – Derivatives net revenue was comparable at $344.5 million ($345.9 million) and accounted for 2 3.3% (26.6%) of total net revenue. ▪ Trading and clearing revenue: comparable at $288.0 million ($286.7 million) ▪ Treasury and other revenue: $87.1 million, down 1.9% from $88.8 million ▪ Transaction-based expenses: $30.7 million, up 3.4% from $29.6 million Equity derivatives volumes increased 6.4% to 187.0 million contracts ( 175.8 million contracts). Higher volumes in FTSE China A50, GIFT Nifty 50 and FTSE Taiwan index futures contracts were partially offset by l ower volumes in Nikkei 225 index futures contracts. Table 3: Equity Derivatives Volumes (‘000) FY2026 FY2025 Change FTSE China A50 index futures 120,528 110,757 8.8% GIFT Nifty 50 index futures and options 21,188 20,659 2.6% FTSE Taiwan index futures 18,065 17,113 5.6% MSCI Singapore index futures 13,337 13,348 -0.1% Japan Nikkei 225 index futures and options 8,391 9,763 -14.1% FTSE China H50 index futures 1,810 1,124 60.9% Single Stock futures 1,533 2,312 -33.7% Others6 2,155 713 202.0% Total 187,006 175,790 6.4% Average Net Fees Average net fee per contract for Equity, Currency and Commodity derivatives was lower at $1.20 ($1.29). Platform and Others Platform and Others net revenue increased $16.7 million or 7.0% to $254. 7 million ($238.0 million) and accounted for 17.2% (18.3%) of total net revenue. ▪ Market data revenue: $57.4 million, up 10.9% from $51.8 million ▪ Connectivity revenue: $92.4 million, up 7.1% from $86.3 million ▪ Indices and other revenue: $114.9 million, up 3.9% from $110.5 million ▪ Transaction-based expenses: $10.0 million, down 5.5% from $10.6 million The increase in market data revenue was mainly due to repricing and fee recoveries associated with additional data usage. The increase in connectivity revenue was mainly due to higher co-location sales and repricing. 6 Others mainly comprise Micro FTSE Taiwan, FTSE Vietnam 30 and FTSE Indonesia index futures.
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Page 5 of 23 Expenses Overview Total expenses increased $35.8 million or 6.4% to $591.1 million ($555.3 million). Higher staff costs and other expenses7 were partially offset by lower depreciation and amortisation. ▪ Fixed staff costs increased $ 17.9 million or 9.3% to $ 210.8 million ($ 192.9 million). Average headcount for FY2026 was 1,182 (1,138). ▪ Variable staff costs increased $14.5 million or 13.4% to $122.5 million ($108.0 million) due to higher profitability. ▪ Other expenses increased $6.2 million or 3.6% to $175.7 million ($169.5 million) mainly due to higher technology costs and professional fees, partially offset by lower miscellaneous expenses. ▪ Depreciation and amortisation decreased $2.8 million or 3.3% to $82.1 million ($84.9 million), mainly due to lower amortisation of intangible assets of Scientific Beta (“SB”) and certain fixed assets being fully depreciated. Adjusted total expenses increased $29.8 million or 5.5% to $572.6 million ($542.8 million), excluding amortisation of intangible assets, transformation-related costs and other one-off adjustments. Non-operating items Non-operating losses at $18.4 million (non-operating gains of $59.7 million) mainly from lower Other income (net) and higher impairment losses. Other income (net) was lower at $10.7 million ($56.5 million) mainly driven by lower net fair value gains from our minority investments. Impairment losses were higher at $55.6 million ($7.6 million). This was driven by a $53.4 million impairment of goodwill allocated to the Indices cash generating unit, attributable to the continued underperformance of SB. Following the impairment, SB’s net asset value, including goodwill, was reduced to $33.9 million as at 30 June 2026. Subsequent to FY2026, the Board of Directors approved a wholly owned subsidiary, SGX Treasury I Pte. Ltd., to enter into a sales and purchase agreement to sell 100% of the issued and fully paid -up share capital of SB for a total cash consideration of approximately EUR 22.9 million ($33.9 million). The disposal was completed on 8 July 2026. On a pro forma basis, assuming the disposal of SB had been completed on 1 July 2025, both FY2026 reported and adjusted EPS would have been higher by 0.1 cents. At the Company level (i.e. Singapore Exchange Limited), an impairment loss of $76.2 million was recorded in the income statement. Our share of losses of associated companies and joint ventures decreased to $10.3 million ($16.7 million). Tax expense was $160.0 million ($137.8 million), in line with higher profitability. Total capital expenditure was $ 94.2 million ($ 67.6 million). These investments include the modernisation of our technology infrastructure. 7 Other expenses include professional fees, technology and premises expenses.
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Page 6 of 23 Impact of Constant Currency On a constant currency basis**, operating profit would have been up 22.4% instead of 19.4%. Table 4: Impact of Constant Currency ($‘million) Reported FY2026 Reported FY2025 Reported % Change Constant Currency % Change Operating revenue less transaction-based expenses (net revenue) 1,478.3 1,298.2 13.9% 15.8% Total expenses 591.1 555.3 6.4% 7.0% Operating profit 887.2 742.8 19.4% 22.4% ** Constant currency is calculated by translating the FY2026 operating results using FY2025 exchange rates and excludes hedging gains and losses. Constant currency figures are non-SFRS(I) measures. Regulatory Overview In FY2026, Singapore Exchange Regulation (SGX RegCo) engaged the market extensively to implement the recommendations of the Equities Market Review Group (EMRG). Key milestones included: ▪ implemented a shift towards a more disclosure-based regulatory regime; ▪ implemented a new set of listing rules that harmonises listing timelines as well as admission and listing disclosure requirements between the Nasdaq and Singapore, facilitating cross-border capital raising for eligible companies and access to a wider range of listings for investors; ▪ reduced the standard board lot sizes for higher-priced securities; and ▪ announced rule changes and enhanced supervisory oversight of depository agents to facilitate the broader use of broker custody accounts in line with global practices. SGX RegCo also rolled out complementary initiatives to enhance market discipline, transparency and standards of governance. To uphold AGM and reporting timeliness by listed issuers, SGX RegCo published a Regulator’s Column emphasising that listed issuers should not expect to receive extensions for operational lapses and resource gaps. The Column reiterated issuer obligations and highlighted consequences for those that failed to meet these obli gations. In another Column, SGX RegCo addressed common misconceptions by listed issuers that could discourage them from making forward-looking statements. The Column encouraged listed issuers to be more forthcoming in communicating their performance and strategy to the market. A three-year cure period limit was introduced for suspended listed companies to resolve substantive underlying concerns. This aims to keep trading suspension to a necessary minimum, while providing certainty on timelines for delisting. In May 2026, MAS announced that distribution safeguards for complex products would shift towards investor risk warnings and away from mandatory investor education. SGX RegCo had, in collaboration with the industry, supported this review of the complex prod ucts framework, with a view to strengthening the vibrancy and development of our products market. SGX RegCo also supported the launch of multiple new asset classes and products on SGX -ST and SGX- DT across FY2026, including Singapore Depository Receipts (SDRs) with Indonesia -listed underlying securities and cryptocurrency perpetual futures, advancing SGX Group’s growth as a global multi-asset exchange. To enhance the resilience of our market, SGX RegCo reviewed retail brokers’ controls for scam prevention and detection. We developed a set of guidelines for the broking community highlighting the need for robust safeguards and collective vigilance. An awareness campaign was also conducted among retail inv estors in collaboration with the Securities Investors Association (Singapore).
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Page 7 of 23 Following the retirement of outgoing Chairman Professor Tan Cheng Han, Dr Sung Cheng Chih was appointed next Chairman of SGX RegCo, bringing extensive regulatory and governance experience to continue guiding RegCo in fulfilling its mandate of maintaining a fair, orderly, and transparent market. Commitment to Clearing Funds SGX’s commitment to the CDP and SGX-DC clearing funds was $40 million and $131 million respectively. The total CDP clearing fund was $80 million and the total SGX-DC clearing fund was $526 million as of 30 June 2026. Outlook FY2026 was a standout year for SGX, delivering all-time highs in both revenue and NPAT. The strength of our multi-asset strategy is reflected in broad-based growth across all operating segments, led by the Cash Equities business. Record volumes in FX and Commodities derivatives reaffirmed the strength of our franchise. T+1 derivatives volumes rose to 22% of total volumes in FY2026 from 18% two years ago, reflecting growing global adoption. SGX FX achieved a record average daily volume of US$190 billion, up 33% year on year. Its growth over the past three years was evident across client segments and regions, led by EMEA and the Americas. Product innov ation remains key to meeting evolving customer needs and broadening our market through offerings. This year, we launched several early -stage products, including crypto perpetual futures, Asian Government Bond Futures and micro futures contracts. Singapore’s equity market continues to gain momentum, supported by a healthy IPO pipeline and higher levels of participation across investor segments. Spearheaded by the Monetary Authority of Singapore, the Equity Market Development Programme (EQDP) has in creased investor interest in Singapore Equities. EQDP fund managers played an important role as anchor investors in several new listings during the year. We also advanced value -unlock initiatives and market structure reforms, while expanding our suite of E xchange Traded Funds and Singapore Depository Receipts. The Straits Times Index reached a record high in June 2026, while securities daily average value exceeded $2 billion in each of the final five months of FY2026. We remain focused on deepening liquidit y, enhancing accessibility and supporting capital formation through initiatives such as the Global Listing Board. In an increasingly complex global environment, we remain committed to driving long -term growth through innovation, liquidity and data-led cross-selling. Key priorities include supporting Singapore’s gold ambitions through an OTC clearing system and a deliverable gold futures contract, as well as deepening synergies between our OTC and listed FX franchises. We will also expand our derivatives offering through strategic index partnerships, broader collaborations and entry into new markets. We are well positioned to deliver our medium -term guidance of (a) 6 -8% Group revenue growth (excluding treasury income); and (b) low - to mid-single digit expense increase. In FY2027, we expect continued broad -based growth across all operating segments. As we continue to invest strategically in technology to support future growth, our FY2027 guidance includes (a) a 6-8% increase in expenses; and (b) capital expenditure of approximately $100M. Active and disciplined capital management remains a key priority, as we continue to balance strategic investments, capital recycling and sustainable shareholder returns. We plan to fully repay our debt in FY2027 and remain confident to deliver the planned quarterly dividend increases of 0.25 cents through FY2028. Given our capital recycling gains, we are pleased to reward shareholders with a proposed one -off additional dividend of 12.5 cents per share. Together with the planned dividend of 11.5 cents per share, total 4Q FY2026 dividends amount to 24.0 cents per share, bringing total FY2026 dividends to 57.0 cents per share.
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2. Income Statement - Group FY2026 FY2025 Change FY2026 FY2025 Change S$'000 S$'000 % S$'000 S$'000 % Operating revenue 214,871 177,150 21.3 Fixed Income, Currencies and Commodities 411,986 350,059 17.7 281,564 201,874 39.5 Equities - Cash 507,631 396,422 28.1 192,735 183,022 5.3 Equities - Derivatives 375,149 375,543 (0.1) 134,116 126,352 6.1 Platform and Others 264,703 248,601 6.5 823,286 688,398 19.6 Operating revenue 1,559,469 1,370,625 13.8 (40,365) (36,590) 10.3 Less: Transaction-based expenses (81,148) (72,458) 12.0 782,921 651,808 20.1 Operating revenue less transaction-based expenses (net revenue) 1,478,321 1,298,167 13.9 Operating expenses 180,479 151,911 18.8 Staff 333,259 300,860 10.8 54,099 48,032 12.6 Technology 99,405 92,452 7.5 5,351 5,291 1.1 Premises 10,345 10,255 0.9 16,720 11,562 44.6 Professional fees 25,306 18,880 34.0 23,018 32,542 (29.3) Others 40,671 47,961 (15.2) 279,667 249,338 12.2 Operating expenses 508,986 470,408 8.2 503,254 402,470 25.0 Earnings before interest, tax, depreciation and amortisation 969,335 827,759 17.1 40,675 42,874 (5.1) Depreciation and amortisation 82,145 84,916 (3.3) 462,579 359,596 28.6 Operating profit 887,190 742,843 19.4 Non-operating items 4,728 29,163 (83.8) - Other income (net) 10,743 56,485 (81.0) 21,448 17,531 22.3 - Interest income 41,588 37,129 12.0 (8,205) (8,583) (4.4) - Finance charges (16,565) (17,338) (4.5) 173 (9,182) NM - Net foreign exchange gains/(losses) 1,441 (8,962) NM (38,400) (5,470) NM - Impairment losses (55,635) (7,568) NM (20,256) 23,459 NM Non-operating (losses)/gains (18,428) 59,746 NM 442,323 383,055 15.5 868,762 802,589 8.2 (3,542) (11,712) (69.8) Share of results of associ ated companies and joint ventures, net of tax (10,309) (16,698) (38.3) 438,781 371,343 18.2 Profit before tax 858,453 785,891 9.2 (83,088) (63,339) 31.2 Tax (160,042) (137,764) 16.2 355,693 308,004 15.5 Net profit after tax 698,411 648,127 7.8 Attributable to: 355,693 307,986 15.5 698,411 647,983 7.8 - 18 NM - 144 NM 3. Statement of Comprehensive Income - Group FY2026 FY2025 Change FY2026 FY2025 Change S$'000 S$'000 % S$'000 S$'000 % 355,693 308,004 15.5 Net profit after tax 698,411 648,127 7.8 Other comprehensive income: a) Items that may be reclassified subsequently to profit or loss: Foreign exchange translation (3,120) (15,815) (80.3) - Exchange differences ar ising during the period/year 1,369 (22,174) NM - - NM - Transferred to profit or loss - 2,668 NM Cash flow hedges (2,274) 4,650 NM - Fair value (losses)/gains arising during the period/year (4,085) 3,245 NM 571 1,722 (66.8) - Transferred to profit or loss (1,186) 549 NM 1,133 4,243 (73.3) - Fair value gains arising during the period/year 3, 303 6,463 (48.9) (1,693) (1,721) (1.6) - Transferred to profit or loss (5,731) (2,618) NM b) Items that will not be reclassified subsequently to profit or loss: Foreign exchange translation - 115 NM - Exchange differences arising during the p eriod/year - - NM Financial assets, at FVOCI (9,174) (23,402) (60.8) - Fair value (losses)/gains arising during the peri od/year (50,263) (3,163) NM (14,557) (30,208) (51.8) (56,593) (15,030) NM 341,136 277,796 22.8 641,818 633,097 1.4 Total comprehensive income attributable to: 341,136 277,663 22.9 Equity holders of the Company 641,818 632,953 1.4 - 133 NM Non-contro lling interests - 144 NM NM: Not meaningful 2H 2H Profit before tax and share of results of associated companies and joint ventures Equity holders of the Company Non-controlling interests Financial assets, at FVOCI Other comprehensive income for the financial period/year, net of tax Total comprehensive income for the financial period/year Page 8 of 23
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4. Detailed Notes on Revenue - Group FY2026 FY2025 Change FY2026 FY2025 Change S$'000 S$'000 % S$'000 S$'000 % Operating revenue Fixed Income, Currencies and Commodities - Fixed Income 3,955 3,066 29.0 - Listing 8,437 6,225 35.5 1,422 1,283 10.8 - Corporate actions and other 3,135 2,896 8.3 5,377 4,349 23.6 11,572 9,121 26.9 - Currencies and Commodities 171,821 144,000 19.3 - Trading and clearing 333,491 280,722 18.8 37,673 28,801 30.8 - Treasury and other 66,923 60,216 11.1 209,494 172,801 21.2 400,414 340,938 17.4 214,871 177,150 21.3 411,986 350,059 17.7 Equities - Cash 15,018 13,734 9.3 - Listing 28,624 26,466 8.2 171,307 114,253 49.9 - Trading and clearing 302,287 221,838 36.3 72,835 49,919 45.9 - Securities settlement and depository managemen t 132,197 99,566 32.8 22,404 23,968 (6.5) - Corporate actions and other 44,523 48,552 (8.3) 281,564 201,874 39.5 507,631 396,422 28.1 Equities - Derivatives 143,872 140,410 2.5 - Trading and clearing 288,019 286,723 0.5 48,863 42,612 14.7 - Treasury and other 87,130 88,820 (1.9) 192,735 183,022 5.3 375,149 375,543 (0.1) Platform and Others 28,428 26,666 6.6 - Market data 57,449 51,783 10.9 46,101 44,469 3.7 - Connectivity 92,400 86,272 7.1 59,587 55,217 7.9 - Indices and other 114,854 110,546 3.9 134,116 126,352 6.1 264,703 248,601 6.5 823,286 688,398 19.6 Operating revenue 1,559,469 1,370,625 13.8 (40,365) (36,590) 10.3 Less: Transaction-based expenses (81,148) (72,458) 12.0 782,921 651,808 20.1 Operating revenue less transaction-based expenses (net revenue) 1,478,321 1,298,167 13.9 5. Detailed Notes on Expenses - Group FY2026 FY2025 Change FY2026 FY2025 Change S$'000 S$'000 % S$'000 S$'000 % Operating expenses Staff 110,879 99,071 11.9 - Fixed staff costs 210,763 192,880 9.3 56,356 45,218 24.6 - Variable bonus 97,398 90,588 7.5 13,244 7,622 73.8 - Variable share-based payment 25,098 17,392 44.3 180,479 151,911 18.8 333,259 300,860 10.8 54,099 48,032 12.6 Technology 99,405 92,452 7.5 5,351 5,291 1.1 Premises 10,345 10,255 0.9 16,720 11,562 44.6 Professional fees 25,306 18,880 34.0 Others 5,522 6,298 (12.3) - Marketing 8,603 9,116 (5.6) 4,117 2,980 38.2 - Travelling 6,462 4,910 31.6 1,007 1,511 (33.4) - Allowance for impairme nt of trade receivables, net 547 2,312 (76.3) 329 99 NM 327 123 NM 1,721 2,032 (15.3) - Directors' fees 3,539 3,702 (4.4) 4,298 4,109 4.6 - Regulatory fees 8,492 7,933 7.0 6,024 15,513 (61.2) - Miscellaneous 12,701 19,865 (36.1) 23,018 32,542 (29.3) 40,671 47,961 (15.2) 279,667 249,338 12.2 Operating expenses 508,986 470,408 8.2 2H 2H YTD - Net loss on disposal of property, plant and equipment and software Page 9 of 23
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6. Earnings Per Share - Group FY2026 FY2025 FY2026 FY2025 Earnings per ordinary share for the period/year attributable to the Company's equity holders (cents) 33.2 28.8 65.3 60.6 33.1 28.6 64.9 60.3 1,069,943 1,069,873 1,069,992 1,069,960 5,918 5,623 5,669 5,272 1,075,861 1,075,496 1,075,661 1,075,232 7. Half Yearly Income Statement - Group FY2026 FY2025 Change FY2026 FY2025 Change S$'000 S$'000 % S$'000 S$'000 % Operating revenue Fixed Income, Currencies and Commodities - Fixed Income - Listing 4,482 3,159 41.9 3,955 3,066 29.0 - Corporate actions and other 1,713 1,613 6.2 1,422 1,283 10.8 6,195 4,772 29.8 5,377 4,349 23.6 - Currencies and Commodities - Trading and clearing 161,670 136,722 18.2 171,821 144,000 19.3 - Treasury and other 29,250 31,415 (6.9) 37,673 28,801 30.8 190,920 168,137 13.6 209,494 172,801 21.2 197,115 172,909 14.0 214,871 177,150 21.3 - Equities - Cash - Listing 13,606 12,732 6.9 15,018 13,734 9.3 - Trading and clearing 130,980 107,585 21.7 171,307 114,253 49.9 - Securities settlement and depository management 59,362 49,647 19.6 72,835 49,919 45.9 - Corporate actions and other 22,119 24,584 (10.0) 22,404 23,968 (6.5) 226,067 194,548 16.2 281,564 201,874 39.5 - Equities - Derivatives - Trading and clearing 144,147 146,313 (1.5) 143,872 140,410 2.5 - Treasury and other 38,267 46,208 (17.2) 48,863 42,612 14.7 182,414 192,521 (5.2) 192,735 183,022 5.3 Platform and Others - Market data 29,021 25,117 15.5 28,428 26,666 6.6 - Connectivity 46,299 41,803 10.8 46,101 44,469 3.7 - Indices and other 55,267 55,329 (0.1) 59,587 55,217 7.9 130,587 122,249 6.8 134,116 126,352 6.1 Operating revenue 736,183 682,227 7.9 823,286 688,398 19.6 Less: Transaction-based expenses (40,783) (35,868) 13.7 (40,365) (36,590) 10.3 Operating revenue less transaction-based expenses (net revenue) 695,400 646,359 7.6 782,921 651,808 20.1 Net profit after tax reported for the half year 342,718 340,123 0.8 355,693 308,004 15.5 Weighted average number of ordinary shares for diluted earnings per share ('000) 1H 2H 2H (a) Based on weighted average number of ordinary shares in issue (b) On a fully diluted basis Weighted average number of ordinary shares in issue for basic earnings per share ('000) Adjustment for assumed vesting of shares granted under share plans ('000) Page 10 of 23
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8. Adjusted Financial Measures - Group FY2026 FY2025 FY2026 FY2025 S$'000 S$'000 S$'000 S$'000 503,254 402,470 Earnings before interest, tax, depreciation and amorti sation 969,335 827,759 Adjusted for: 5,464 2,580 - Other one-off adjustments 5,594 4,212 5,696 - - Transformation-related costs 5,696 - 514,414 405,050 Adjusted earnings before interest, tax, depreciation and amortisation 980,625 831,971 FY2026 FY2025 FY2026 FY2025 S$'000 S$'000 S$'000 S$'000 355,693 307,986 Net profit after tax attributable to equity holders of the Company 698,411 647,983 Adjusted for: (3,980) (29,482) - Net gains from long-term investments (9,924) (48,675) - - - Gain on sale of i nterest of associated company - (7,801) 38,400 5,470 - Impairment losses 55,635 7,568 - 310 - Fair value loss on forward liability to acquire non-controlling interests - 310 3,605 4,157 - Amortisation of intangible assets 7,238 8,314 5,464 2,580 - Other one-off adjustments 5,594 4,212 5,696 - - Transformati on-related costs 5,696 - - (11) - Non-con trolling interests relating to the above - (43) (2,557) (1,610) - Income tax adjustment relating to the above (3, 198) (2,346) 402,321 289,400 Adjusted net profit after tax attributable to equity holders of the Company 759,452 609,522 2H (a) Adjusted earnings before interest, tax, depreciation and amortisation 2H (b) Adjusted net profit after tax attributable to equity holders of the Company Page 11 of 23
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9. Statement of Financial Position - Group 30 June 2026 30 June 2025 S$'000 S$'000 Assets Current assets Cash and cash equivalents 1,806,145 1,129,979 Trade and other receivables 1,173,496 935,950 Derivative financial instruments 590 5,628 Financial assets, at FVOCI 423,917 377,585 Financial assets, at FVPL 8,134 - 3,412,282 2,449,142 Non-current assets Financial assets, at FVOCI 120,811 183,514 Financial assets, at FVPL 17,762 463,695 Investment property 13,357 13,617 Property, plant and equipment 82,674 62,582 Software 152,932 134,205 Right-of-use assets 46,260 64,306 Intangible assets 48,783 56,411 Goodwill 632,907 684,912 Associated companies 14,753 17,961 Joint ventures 4,949 13,643 1,135,188 1,694,846 Total assets 4,547,470 4,143,988 Liabilities Current liabilities Trade and other payables 1,269,091 1,029,440 Derivative financial instruments 3,225 - Loans and borrowings 628,247 - Lease liabilities 15,291 19,754 Taxation 159,055 132,178 Provisions 34,196 29,160 2,109,105 1,210,532 Non-current liabilities Loans and borrowings - 622,904 Lease liabilities 32,288 45,446 Deferred tax liabilities 28,684 50,394 Other liabilities 14,411 14,791 75,383 733,535 Total liabilities 2,184,488 1,944,067 Net assets 2,362,982 2,199,921 Equity Capital and reserves attributable to the Company's equity holders Share capital 416,656 419,198 Capital reserve 3,989 3,989 Treasury shares (51,053) (33,386) Cash flow hedge reserve (1,897) 3,374 Currency translation reserve (22,124) (23,493) Fair value reserve 47,869 100,560 Securities clearing fund reserve 25,000 25,000 Derivatives clearing fund reserve 34,021 34,021 Share-based payment reserve 40,580 33,493 Retained profits 1,613,473 1,524,941 Proposed dividends 256,468 112,224 Total equity 2,362,982 2,199,921 As at Page 12 of 23
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10. Net Asset Value - Group 30 June 2026 30 June 2025 S$ S$ 2.21 2.06 11. Borrowings and Debt Securities - Group (a) Aggregate amount of the Group's borrowings and debt securities Secured Unsecured Secured Unsecured S$'000 S$'000 S$'000 S$'000 Amount repayable in one year or less, or on demand Nil 628,247 N il Nil Amount repayable after one year Nil Nil Nil 622,904 (b) Details of any collaterals None. As at Net asset value per ordinary share based on total number of issued shares excluding treasury shares as at the end of the reporting period As at 30 June 2026 As at 30 June 2025 Page 13 of 23
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12. Statement of Cash Flows - Group 2H FY2026 2H FY2025 FY2026 FY2025 S$'000 S$'000 S$'000 S$'000 Cash flows from operating activities 442,323 383,055 868,762 802,589 Adjustments for: 40,675 42,874 Depreciation and amortisation 82,145 84,916 13,244 7,622 Share-based payment expense 25,487 17,740 8,205 8,583 Finance charges 16,565 17,338 38,400 5,470 Impairment losses 55,635 7,568 (3,993) (29,498) Net fair value gains on financial assets, at FVPL (8,661) (42,684) - 310 Fair value loss on forward liability to acquire non-controlling interests - 310 - - Gains on sale of interest in associate d company - (7,801) (21,448) (17,531) Interest income (41,588) (37,129) 12 16 Net losses/(gains) on changes in inte rests in associated company and joint venture 21 (5,991) 329 99 Net loss on dispo sal of property, plant and equipment and software 327 123 - - Other non-cash income (1,283) (1,218) 517,747 401,000 Operating cash flow before working capital change 997,410 835,761 Changes in: (9,584) (23,128) Cash committed for Nati onal Electricity Market of Singapore 10,733 (21,195) (41) 12,933 Cash committed for Sing apore Exchange Derivatives Clearing (99) 12,910 Limited - Derivatives Clearing Fund (231,440) 9,425 Trade a nd other receivables (234,134) 172,244 296,716 123,306 Trade and ot her payables 229,822 (36,272) 573,398 523,536 Cash generated from operations 1,003,732 963,448 (66,412) (60,980) Income tax paid (133,001) (121,778) 506,986 462,556 Net cash generated from operating activities 870,731 841,670 Cash flows from investing activities (485,571) (361,906) Purchase of financial assets, at FVOCI (819,324) (572,335) (1,645) (3,873) Purchase of financial asset, at FVPL (2,666) (4,783) (47,057) (36,181) Purchase of property, plant and equipment and software (81,922) (68,112) - (10,331) Acquisition of non-controlling interest in a s ubsidiary - (10,331) - - Acquisition of addi tional interest in associated company - (3,360) 434,500 161,500 Proceeds from financial assets, at FVOCI upon m aturity 775,089 337,500 - 233 Proceeds from sale of interests in assoc iated companies - 17,808 - - Distribution proceeds relating to finan cial asset, at FVPL 459,129 - 12,646 18,723 Interest received 28,605 34,618 - - Grants received for property, plant and equipment and software - 3,070 36 10 Proceeds from dispo sal of property, plant and equipment and software 38 20 (87,091) (231,825) Net cash generated from/(used in) investing activities 358,949 (265,905) Cash flows from financing activities (238,120) (192,433) Dividends paid (465,635) (385,346) (42,012) (22,433) Purchase of treasury shares (42,012) (26,329) (10,661) (11,326) Repayment of l ease liabilities (21,551) (23,221) (7,171) (7,287) Interest paid (14,283) (14,465) (297,964) (233,479) Net cash used in financing activities (543,481) (449,361) 121,931 (2,748) Net increase/(decrease) in cash and cash equivalents 686,199 126,404 1,483,146 924,088 Cash and cash equivalent s at beginning of financial period/year 919,303 795,720 1,026 (2,037) 601 (2,821) 1,606,103 919,303 Cash and cash equivalents at end of financial period/year 1,606,103 919,303 2H FY2026 2H FY2025 FY2026 FY2025 S$'000 S$'000 S$'000 S$'000 1,606,103 919,303 Cash and cash equivale nts per Statement of Cash Flows 1,606,103 919,303 Add: Cash committed for 131,493 131,394 131,493 131,394 40,000 40,000 - The Central Depository (Pte) Limited - Securities Clearing Fund 40,000 40,000 28,549 39,282 - National Electrici ty Market of Singapore 28,549 39,282 1,806,145 1,129,979 Cash and cash equivalents per Statement of Financi al Position - Group 1,806,145 1,129,979 For the purpose of the Statement of Cash Flows, the cash and cash equivalents comprised the following: - Singapore Exchange Derivatives Clearing Limited - Derivatives Clearing Fund Profit before tax and share of results of associated companies and joint ventures Effects of currency translation on cash and cash equivalents Page 14 of 23
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13. Statement of Changes in Equity - Group Share capital Capital reserve * Treasury shares Cash flow hedge reserve * Currency translation reserve * Fair value reserve * Securities clearing fund reserve * Derivatives clearing fund reserve * Share- based payment reserve * Other reserve * Retained profits Proposed dividends Total Non- controlling interests Total equity S$'000 S$'000 S$'000 S$'000 S$'000 S$ '000 S$'000 S$'000 S$'000 S$'000 S$' 000 S$'000 S$'000 S$'000 S$'000 (i) Group - 2H FY2026 Balance at 1 January 2026 416,656 3,989 (12,353) (194) (19,004) 57,603 25,000 34,021 27,336 - 1,634,593 117,775 2,285,422 - 2,285,422 Changes in equity for the period Transactions with equity holders, recognised directly in equity Dividends paid - 2Q FY2026 - Interim dividends - - - - - - - - - - - (117,775) (117,775) - (117,775) - 3Q FY2026 - Interim dividends - - - - - - - - - - (120,345) - (120,345) - (120,345) Proposed dividends - FY2026 - Final dividends - - - - - - - - - - (122,891) 122,891 - - - - FY2026 - Additional dividends - - - - - - - - - - (133,577) 133,577 - - - Employees' share plans - Value of employees' services - - - - - - - - 13,244 - - - 13,244 - 13,244 Purchase of treasury shares - - (42,012) - - - - - - - - - (42,012) - (42,012) Tax effect on treasury shares ^^ - - 3,312 - - - - - - - - - 3,312 - 3,312 Total transactions with equity holders for the period - - (38,700) - - - - - 13,244 - (376,813) 138,693 (263,576) - (263,576) Total comprehensive income Net profit after tax - - - - - - - - - - 355,693 - 355,693 - 355,693 Other comprehensive income - - - (1,703) (3,120) (9,734) - - - - - - (14,557) - (14,557) Total comprehensive income for the period - - - (1,703) (3,120) (9,734) - - - - 355,693 - 341,136 - 341,136 Balance at 30 June 2026 416,656 3,989 (51,053) (1,897) (22,124) 47,869 25,000 34,021 40,580 - 1,613,473 256,468 2,362,982 - 2,362,982 (ii) Group - 2H FY2025 Balance at 1 January 2025 419,198 3,989 (11,931) (2,998) (7,678) 121,440 25,000 34,021 25,871 (40,506) 1,465,796 - 2,032,202 1,340 2,033,542 Changes in equity for the period Transactions with equity holders, recognised directly in equity Contributions by and distributions to equity holders Dividends paid - 3Q FY2025 - Interim dividends - - - - - - - - - - (96,255) - (96,255) - (96,255) Proposed dividends - FY2025 - Final dividends - - - - - - - - - - (112,224) 112,224 - - - Employees' share plans - Value of employees' services - - - - - - - - 7,622 - - - 7,622 - 7,622 Purchase of treasury shares - - (22,433) - - - - - - - - - (22,433) - (22,433) Tax effect on treasury shares ^^ - - 978 - - - - - - - - - 978 - 978 Total contributions by and distributions to equity holders - - (21,455) - - - - - 7,622 - (208,479) 112,224 (110,088) - (110,088) Changes in ownership interests in subsidiary Acquisition of non-controlling interests - - - - - - - - - 40,506 (40,362) - 144 (1,473) (1,329) Total transactions with equity holders for the period - - (21,455) - - - - - 7,622 40,506 (248,841) 112,224 (109,944) (1,473) (111,417) Total comprehensive income Net profit after tax - - - - - - - - - - 307,986 - 307,986 18 308,004 Other comprehensive income - - - 6,372 (15,815) (20,880) - - - - - - (30,323) 115 (30,208) Total comprehensive income for the period - - - 6,372 (15,815) (20,880) - - - - 307,986 - 277,663 133 277,796 Balance at 30 June 2025 419,198 3,989 (33,386) 3,374 (23,493) 100,560 25,000 34,021 33,493 - 1,524,941 112,224 2,199,921 - 2,199,921 * These reserves are not available for distribution as dividends to the equity holders of the Company. ^^ The tax effect relates to the deferred tax benefit/(liability) on the difference between consideration paid for treasury shares and share-based payment expense relating to employees' and directors' services. Attributable to equity holders of the Company Page 15 of 23
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13. Statement of Changes in Equity - Group (continued) Share capital Capital reserve * Treasury shares Cash flow hedge reserve * Currency translation reserve * Fair value reserve * Securities clearing fund reserve * Derivatives clearing fund reserve * Share-based payment reserve * Other reserve * Retained profits Proposed dividends Total Non- controlling interests Total equity S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$' 000 S$'000 S$'000 S$'000 S$'000 (iii) Group - FY2026 Balance at 1 July 2025 419,198 3,989 (33,386) 3,374 (23,493) 100,560 25,000 34,021 33,493 - 1,524,941 112,224 2,199,921 - 2,199,921 Changes in equity for the year Transactions with equity holders, recognised directly in equity Dividends paid - FY2025 - Final dividends - - - - - - - - - - - (112,224) (112,224) - (112,224) - Under provision of FY2025 final dividends - - - - - - - - - - (195) - (195) - (195) - FY2026 - Interim dividends - - - - - - - - - - (353,216) - (353,216) - (353,216) Proposed dividends - FY2026 - Final dividends - - - - - - - - - - (122,891) 122,891 - - - - FY2026 - Additional dividends - - - - - - - - - - (133,577) 133,577 - - - Employees' share plans - Value of employees' services - - - - - - - - 25,098 - - - 25,098 - 25,098 Restricted share plan - Value of directors' services - - - - - - - - 389 - - - 389 - 389 Vesting of shares under share-based remuneration plans (2,656) - 20,667 - - - - - (18,011) - - - - - - Vesting of shares under restricted share plan 114 - 275 - - - - - (389) - - - - - - Purchase of treasury shares - - (42,012) - - - - - - - - - (42,012) - (42,012) Tax effect on treasury shares ^^ - - 3,403 - - - - - - - - - 3,403 - 3,403 Total transactions with equity holders for the year (2,542) - (17,667) - - - - - 7,087 - (609,879) 144,244 (478,757) - (478,757) Total comprehensive income Net profit after tax - - - - - - - - - - 698,411 - 698,411 - 698,411 Other comprehensive income - - - (5,271) 1,369 (52,691) - - - - - - (56,593) - (56,593) Total comprehensive income for the year - - - (5,271) 1,369 (52,691) - - - - 698,411 - 641,818 - 641,818 Balance at 30 June 2026 416,656 3,989 (51,053) (1,897) (22,124) 47,869 25,000 34,021 40,580 - 1,613,473 256,468 2,362,982 - 2,362,982 (iv) Group - FY2025 Balance at 1 July 2024 420,476 3,989 (27,665) (420) (3,987) 99,878 25,000 34,021 34,170 (40,506) 1,318,712 96,178 1,959,846 1,329 1,961,175 Changes in equity for the year Transactions with equity holders, recognised directly in equity Contributions by and distributions to equity holders Dividends paid - FY2024 - Final dividends - - - - - - - - - - - (96,178) (96,178) - (96,178) - Under provision of FY2024 final dividends - - - - - - - - - - (194) - (194) - (194) - FY2025 - Interim dividends - - - - - - - - - - (288,974) - (288,974) - (288,974) Proposed dividends - FY2025 - Final dividends - - - - - - - - - - (112,224) 112,224 - - - Employees' share plans - Value of employees' services - - - - - - - - 17,392 - - - 17,392 - 17,392 Restricted share plan - Value of directors' services - - - - - - - - 348 - - - 348 - 348 Vesting of shares under share-based remuneration plans (1, 352) - 19,421 - - - - - (18,069) - - - - - - Vesting of shares under restricted share plan 74 - 274 - - - - - (348) - - - - - - Purchase of treasury shares - - (26,329) - - - - - - - - - (26,329) - (26,329) Tax effect on treasury shares ^^ - - 913 - - - - - - - - - 913 - 913 Total contributions by and distributions to equity holders (1,27 8) - (5,721) - - - - - (677) - (401,392) 16,046 (393,022) - (393,022) Changes in ownership interests in subsidiary Acquisition of non-controlling interests - - - - - - - - - 40,506 (40,362) - 144 (1,473) (1,329) Total transactions with equity holders for the year (1,278) - (5,721) - - - - - (677) 40,506 (441,754) 16,046 (392,878) (1,473) (394,351) Total comprehensive income Net profit after tax - - - - - - - - - - 647,983 - 647,983 144 648,127 Other comprehensive income - - - 3,794 (19,506) 682 - - - - - - (15,030) - (15,030) Total comprehensive income for the year - - - 3,794 (19,506) 682 - - - - 647,983 - 632,953 144 633,097 Balance at 30 June 2025 419,198 3,989 (33,386) 3,374 (23,493) 100,560 25,000 34,021 33,493 - 1,524,941 112,224 2,199,921 - 2,199,921 * These reserves are not available for distribution as divide nds to the equity holders of the Company. ^^ The tax effect relates to the deferred tax benefit/(liability) on the difference between consideration paid for treasury s hares and share-based payment expense relating to employees' and directors' services. Attributable to equity holders of the Company Page 16 of 23
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14. Segment Information - Group Group - 2H FY2026 and 2H FY2025 Fixed Income, Currencies and Commodities Equities - Cash Equities - Derivatives Platform and Others Corporate * Group Fixed Income, Currencies and Commodities Equities - Cash Equities - Derivatives Platform and Others Corporate * Group S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 214,871 281,564 192,735 134,116 - 823,286 Operating revenue 177,150 201,874 183,022 126,352 - 688,398 (17,526) (2,556) (15,632) (4,651) - (40,365) Less: Transaction-based expenses (14,651) (1,791) (14,503) (5,645) - (36,590) 197,345 279,008 177,103 129,465 - 782,921 Operating revenue less: transaction-based expenses (net revenue) 162,499 200,083 168,519 120,707 - 651,808 113,267 202,054 123,760 64,173 - 503,254 Earnings before interest, tax, depreciation and amortisation 79,696 132,928 122,747 67,099 - 402,470 13,736 9,439 7,177 10,323 - 40,675 Depreciation and amortisation 14,299 12,006 7,135 9,434 - 42,874 99,531 192,615 116,583 53,850 - 462,579 Operating profit 65,397 120,922 115,612 57,665 - 359,596 - - - - (20,256) (20,256) - - - - 23,459 23,459 - - - - (3,542) (3,542) - - - - (11,712) (11,712) - - - - (83,088) (83,088) Tax - - - - (63,339) (63,339) 355,693 Net profit after tax 308,004 Group - FY2026 and FY2025 Fixed Income, Currencies and Commodities Equities - Cash Equities - Derivatives Platform and Others Corporate * Group Fixed Income, Currencies and Commodities Equities - Cash Equities - Derivatives Platform and Others Corporate * Group S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 411,986 507,631 375,149 264,703 - 1,559,469 Operating revenue 350,059 396,422 375,543 248,601 - 1,370,625 (35,751) (4,691) (30,661) (10,045) - (81,148) Less: Transaction-based expenses (28,485) (3,702) (29,645) (10,626) - (72,458) 376,235 502,940 344,488 254,658 - 1,478,321 Operating revenue less: transaction-based expenses (net revenue) 321,574 392,720 345,898 237,975 - 1,298,167 219,809 363,127 248,073 138,326 - 969,335 Earnings before interest, tax, depreciation and amortisation 168,213 267,658 256,521 135,367 - 827,759 27,088 21,598 14,091 19,368 - 82,145 Depreciation and amortisation 27,761 23,731 14,041 19,383 - 84,916 192,721 341,529 233,982 118,958 - 887,190 Operating profit 140,452 243,927 242,480 115,984 - 742,843 - - - - (18,428) (18,428) - - - - 59,746 59,746 - - - - (10,309) (10,309) - - - - (16,698) (16,698) - - - - (160,042) (160,042) Tax - - - - (137,764) (137,764) 698,411 Net profit after tax 648,127 * The corporate segment is a non-operating segment Share of results of associated companies and joint ventures, net of tax Non-operating (losses)/gains Non-operating (losses)/gains Share of results of associated companies and joint ventures, net of tax FY2026 FY2025 2H FY2026 2H FY2025 Page 17 of 23
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15. Statement of Financial Position - Company 30 June 2026 30 June 2025 S$'000 S$'000 Assets Current assets Cash and cash equivalents 721,780 260,731 Trade and other receivables 241,986 178,927 Financial assets, at FVOCI 202,171 94,026 1,165,937 533,684 Non-current assets Property, plant and equipment 53,834 39,657 Software 51,259 49,139 Right-of-use assets 42,862 61,267 Subsidiaries 1,298,868 1,666,002 Deferred tax assets 1,794 - 1,448,617 1,816,065 Total assets 2,614,554 2,349,749 Liabilities Current liabilities Trade and other payables 166,337 195,519 Loans and borrowings 628,247 - Lease liabilities 13,623 18,412 Taxation 11,731 6,574 Provisions 14,600 9,637 834,538 230,142 Non-current liabilities Loans and borrowings - 622,904 Lease liabilities 30,283 43,617 Deferred tax liabilities - 4,600 30,283 671,121 Total liabilities 864,821 901,263 Net assets 1,749,733 1,448,486 Equity Capital and reserves attributable to the Company's equity holders Share capital 416,656 419,198 Treasury shares (51,053) (33,386) Fair value reserve 133 894 Share-based payment reserve 40,580 33,493 Retained profits 1,086,949 916,063 Proposed dividends 256,468 112,224 Total equity 1,749,733 1,448,486 16. Net Asset Value - Company 30 June 2026 30 June 2025 S$ S$ 1.64 1.36 As at As at Net asset value per ordinary share based on total number of issued shares excluding treasury shares as at the end of the reporting period Page 18 of 23
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17. Statement of Changes in Equity - Company Share capital Treasury shares Fair value reserve * Share-based payment reserve * Retained profits Proposed dividends Total equity S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 (i) Company - 2H FY2026 Balance at 1 January 2026 416,656 (12,353) 136 27,336 1,157,538 117,775 1,707,088 Changes in equity for the period Transactions with equity holders, recognised directly in equity Dividends paid - 2Q FY2026 - Interim dividends - - - - - (117,775) (117,775) - 3Q FY2026 - Interim dividends - - - - (120,345) - (120,345) Proposed dividends - FY2026 - Final dividends - - - - (122,891) 122,891 - - FY2026 - Additional dividends - - - - (133,577) 133,577 - Employees' share plans - Value of employees' services - - - 13,244 - - 13,244 Purchase of treasury shares - (42,012) - - - - (42,012) Tax effect on treasury shares ^^ - 3,312 - - - - 3,312 Total transactions with equity holders for the period - (38,700) - 13,244 (376,813) 138,693 (263,576) Total comprehensive income Net profit after tax - - - - 306,224 - 306,224 Other comprehensive income - - (3) - - - (3) Total comprehensive income for the period - - (3) - 306,224 - 306,221 Balance at 30 June 2026 416,656 (51,053) 133 40,580 1,086,949 256,468 1,749,733 (ii) Company - 2H FY2025 Balance at 1 January 2025 419,198 (11,931) - 25,871 934,614 - 1,367,752 Changes in equity for the period Transactions with equity holders, recognised directly in equity Dividends paid - 3Q FY2025 - Interim dividends - - - - (96,255) - (96,255) Dividend payable - FY2025 - Final dividends - - - - (112,224) 112,224 - Employees' share plans - Value of employees' services - - - 7,622 - - 7,622 Purchase of treasury shares - (22,433) - - - - (22,433) Tax effect on treasury shares ^^ - 978 - - - - 978 Total transactions with equity holders for the period - (21,455) - 7,622 (208,479) 112,224 (110,088) Total comprehensive income Net profit after tax - - - - 189,928 - 189,928 Other comprehensive income - - 894 - - - 894 Total comprehensive income for the period - - 894 - 189,928 - 190,822 Balance at 30 June 2025 419,198 (33,386) 894 33,493 916,063 112,224 1,448,486 * These reserves are not available for distribution as dividends to the equity holders of the Company. Attributable to equity holders of the Company ^^ The tax effect relates to the deferred tax benefit/(liability) on the difference between consideration paid for treasury shares and share-based payment expense relating to employees' and directors' services. Page 19 of 23
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17. Statement of Changes in Equity - Company (continued) Share capital Treasury shares Fair value reserve * Share-based payment reserve * Retained profits Proposed dividends Total equity S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 (iii) Company - FY2026 Balance at 1 July 2025 419,198 (33,386) 894 33,493 916, 063 112,224 1,448, 486 Changes in equity for the year Transactions with equity holders, recognised directly in equity Dividends paid - FY2025 - Final dividends - - - - - (112,224) (112,224) - Under provision of FY2025 final dividends - - - - (195) - (195) - FY2026 - Interim dividends - - - - ( 353,216) - (353,216) Proposed dividends - FY2026 - Final dividends - - - - ( 122,891) 122,891 - - FY2026 - Additional dividends - - - - ( 133,577) 133,577 - Employees' share plans - Value of employees' services - - - 25,098 - - 25,098 Restricted share plan - Value of directors' services - - - 389 - - 389 Vesting of shares under share-based remuneration plans (2,656) 20,667 - ( 18,011) - - - Vesting of shares under restricted share plan 114 275 - (389) - - - Purchase of treasury shares - ( 42,012) - - - - (42,012) Tax effect on treasury shares ^^ - 3,403 - - - - 3,403 Total transactions with equity holders for the year (2,542) ( 17,667) - 7,087 (609, 879) 144,244 (478, 757) Total comprehensive income Net profit after tax - - - - 780, 765 - 780,765 Other comprehensive income - - (761) - - - (761) Total comprehensive income for the year - - (761) - 780, 765 - 780,004 Balance at 30 June 2026 416,656 (51,053) 133 40,580 1, 086,949 256,468 1,749, 733 (iv) Company - FY2025 Balance at 1 July 2024 420,476 (27,665) - 34,170 782, 000 96,178 1, 305,159 Changes in equity for the year Transactions with equity holders, recognised directly in equity Dividends paid - FY2024 - Final dividends - - - - - (96,178) (96,178) - Under provision of FY2024 final dividends - - - - (194) - (194) - FY2025 - Interim dividends - - - - ( 288,974) - (288,974) Proposed dividends - FY2025 - Final dividends - - - - ( 112,224) 112,224 - Employees' share plans - Value of employees' services - - - 17,392 - - 17,392 Restricted share plan - Value of directors' services - - - 348 - - 348 Vesting of shares under share-based remuneration plans (1,352) 19,421 - ( 18,069) - - - Vesting of shares under restricted share plan 74 274 - (348) - - - Purchase of treasury shares - ( 26,329) - - - - (26,329) Tax effect on treasury shares ^^ - 913 - - - - 913 Total transactions with equity holders for the year (1,278) (5,721) - (677) (401, 392) 16,046 (393, 022) Total comprehensive income Net profit after tax - - - - 535, 455 - 535,455 Other comprehensive income - - 894 - - - 894 Total comprehensive income for the year - - 894 - 535, 455 - 536,349 Balance at 30 June 2025 419,198 (33,386) 894 33,493 916, 063 112,224 1,448, 486 * These reserves are not available for distribution as dividends to the equity holders of the Company. Attributable to equity holders of the Company ^^ The tax effect relates to the deferred tax benefit/(liability) on the difference between consideration paid for treasury shares and share-based payment expense relating to employees' and directors' services. Page 20 of 23
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18. Bank Facilities, Contingent Liabilities and Commitments - Group ▪ Contingent Liabilities and Other Commitments ▪ ▪ ▪ 19. Dividend - Company Dividend Rate Record Date Date Payable/Paid (cents per ordinary share) Interim - Tax-exempt Cash Dividends FY2026 1Q 10.75 7 November 2025, 5pm 14 November 2025 2Q 11.0 13 February 2026, 5pm 3Q 11.25 FY2025 1Q 9.0 8 November 2024, 5pm 2Q 9.0 14 February 2025, 5pm 3Q 9.0 Proposed Final - Tax-exempt Cash Dividends FY2026 11.5 10 November 2026 FY2025 10.5 Proposed Additional - Tax-exempt Cash Dividends FY2026 12.5 10 November 2026 FY2025 Nil The manner in which the cash can be used is defined under Singapore Exchange Derivatives Clearing Limited Clearing Rules, The Central Depository (Pte) Limited Clearing Rules and Singapore Electricity Market Rules respectively. Bank Facilities As at 30 June 2026, the Group had $1,245 million (30 June 2025: $1,085 million) of bank credit facilities comprising committed unsecured credit lines for prudent risk management and to maintain adequate liquid resources. During the financial year ended 30 June 2026, Mercuria Energy Trading S.A. (“Mercuria”) brought a claim against Baltic Exchange Information Services Limited (“Baltic”), a subsidiary of the Group, alleging that Baltic has not met its statutory duties and contractual duty of care in relation to its production of the TD3C benchmark. Baltic denies the allegations and is defending the claim. As at 30 June 2026, Mercuria had sought declaratory relief and had not made any claim for monetary damages. Having considered the nature of the claim and external legal advice received, management does not consider an outflow of economic benefits to be probable. Accordingly, no provision has been recognised for the financial year ended 30 June 2026. The trial is scheduled to commence in October 2026. As at 30 June 2026, the Group had contingent liabilities to banks for US$380 million (30 June 2025: US$329 million) of unsecured standby letters of credit issued to Chicago Mercantile Exchange as margin and performance bond for futures trading. The Group has committed cash of $200 million (30 June 2025: $210 million) for the following: (i) Singapore Exchange Derivatives Clearing Limited - Derivatives Clearing Fund $131 million (30 June 2025: $131 million); (ii) The Central Depository (Pte) Limited - Securities Clearing Fund $40 million (30 June 2025: $40 million); and (iii) National Electricity Market of Singapore $29 million (30 June 2025: $39 million) 24 February 2026 15 May 2026 8 May 2026, 5pm Total Dividends Total dividends on ordinary shares for the year ended 30 June 2026 and 30 June 2025 were $609.7 million and $401.2 million respectively. Dividend policy SGX aims to pay a sustainable and growing dividend over time, consistent with long term growth prospects. Dividends will be paid on a quarterly basis and will be at the discretion of the Board. 2 November 2026, 5pm 15 November 2024 21 February 2025 Nil Nil 17 October 2025, 5pm 27 October 2025 19 May 2025 9 May 2025, 5pm 2 November 2026, 5pm Page 21 of 23
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20. Share Capital - Company Balance at end of period/year Shares transferred to employees pursuant to share-based remuneration plans and to directors pursuant to restricted share plan (1,878,091) (2,187,170) The Company holds the shares bought back as treasury shares. 3,024,423 2,839,514 3,024,423 2,839,514 - - 961,423 1,123,514 Balance at beginning of period/year 2,839,514 2,995,684 2,063,000 1,716,000 Purchase of treasury shares 2,063,000 2,031,000 The total number of issued ordinary shares as at 30 June 2026 was 1,071,642,400 (30 June 2025: 1,071,642,400), of which 3,024,423 (30 June 2025: 2,839,514) were held by the Company as treasury shares. For 2H FY2026, the Company purchased 2,063,000 (2H FY2025: 1,716,000) of its ordinary shares by way of on-market purchase at share prices ranging from $17.25 to $24.24 (2H FY2025: $11.84 to $14.04). The total amount paid to purchase the shares was $42.0 million (2H FY2025: $22.4 million). For FY2026, the Company purchased 2,063,000 (FY2025: 2,031,000) of its ordinary shares by way of on-market purchase at share prices ranging from $17.25 to $24.24 (FY2025: $11.84 to $14.04). The total amount paid to purchase the shares was $42.0 million (FY2025: $26.3 million). During FY2026, 1,878,091 shares under the Company's share-based remuneration plans and restricted share plan have vested (FY2025: 2,187,170). The movement of treasury shares for the period is as follows: 2H FY2026 2H FY2025 FY2026 FY2025 Page 22 of 23
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21. Accounting Policies - Group New accounting standards and interpretations not adopted 22. Subsequent Event 23. Other Listing Manual Requirements Interested Person Transactions - Group The Group has not obtained a general mandate from shareholders for Interested Person Transactions. Confirmation of Directors and Executive Officers' undertakings pursuant to Listing Rule 720(1) Seah Kim Ming Glenn Ding Hui Yun Company Secretaries 6 August 2026 As at 30 June 2026, the net asset value of SB (including attributable goodwill) was approximately $33.9 million. The Group does not expect any further material profit or loss impact arising from the disposal. The Company has procured undertakings from all its directors and executive officers in compliance with Listing Rule 720(1). Disclosure of persons occupying managerial positions who are related to a director, CEO or substantial shareholder Pursuant to Listing Rule 704(13) of the Listing Manual, SGX confirms that there are no persons occupying a managerial position in the Company or in any of its principal subsidiaries who is a relative of a director, chief executive officer or substantial shareholder of the Company. The accounting policies adopted are consistent with those of the previous financial year which were prepared in accordance with SFRS(I)s. A number of new standards and amendments to standards are effective for annual periods beginning after 1 July 2025 and earlier application is permitted; however, the Group has not early adopted the new or amended standards in preparing these financial statements. • Amendments to SFRS(I) 1-1: Replaced with SFRS(I) 18 Presentation and Disclosure in Financial Statements • Amendments to SFRS(I) 9 and SFRS(I) 7 Amendments to the Classification and Measurement of Financial Instruments; Contracts Referencing Nature- dependent Electricity • Annual Improvements to SFRS(I)s - Volume 11 • SFRS(I) 19 Subsidiaries without Public Accountability: Disclosures • Amendments to SFRS(I) 1-21 Translation to a Hyperinflationary Presentation Currency The above SFRS(I)s and amendments to SFRS(I)s are not expected to have a significant impact on the Group’s consolidated financial statements and the Company’s financial statements, except for SFRS(I) 18 Presentation and Disclosure in Financial Statements. SFRS(I) 18 will replace SFRS(I) 1 -1 Presentation of Financial Statements and applies for annual reporting periods beginning on or after 1 January 2027. The Group is currently assessing the impact of the adoption of this standard. Subsequent to the financial year ended 30 June 2026, the Board of Directors of the Company approved the Company’s wholly owned subsidiary, SGX Treasury I Pte. Ltd., to enter into a sales and purchase agreement to sell 100% of the issued and fully paid-up share capital of SB for a total cash consideration of approximately EUR 22.9 million ($33.9 million). The disposal was completed on 8 July 2026. Page 23 of 23