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FOR IMMEDIATE RELEASE Jefferies Financial Group Announces Second Quarter 2021 Financial Results -- Jefferies Group LLC Delivers Record Second Quarter and Six Months Revenues and Net Income Jefferies Dividend Increased 25 % to $ 1.00 Per Share Annual Rate New York , New York June 28 , 2021 Jefferies Financial Group Inc. ( NYSE : JEF ) today announced its financial results for the three and six months ended May 31 , 2021. Net Income attributable to common shareholders for the second quarter was $ 353 million , or $ 1.30 per diluted share , and annualized adjusted return on tangible equity was 19.2 % ¹ . For the six months ended May 31 , 2021 , Net income attributable to common shareholders was $ 935 million , or $ 3.43 per diluted share , and annualized adjusted return on tangible equity was 27.0 % ² . In addition , the Jefferies Board of Directors declared a quarterly cash dividend equal to $ 0.25 per Jefferies common share , a 25 % increase on the prior dividend rate , payable on August 27 , 2021 to record holders of Jefferies common shares on August 16 , 2021. We expect to file our Form 10 - Q on or about July 9 , 2021 . Highlights for the three months ended May 31 , 2021 : Jefferies Group LLC Net revenues of $ 1,617 million , a record for a second quarter and up 56 % over the prior year second quarter's then all - time record quarterly net revenues Pre - tax income of $ 429 million , also a record for a second quarter and up 148 % over the prior year quarter , demonstrating the operating leverage inherent in our business model , and record second quarter net earnings of $ 318 million , up 147 % over the prior year quarter Annualized return on tangible equity of 26.9 % ³ , compared with 11.6 % in the prior year quarter Record quarterly Investment Banking net revenues of $ 1,034 million , up 227 % over the prior year quarter , including record quarterly Advisory net revenues of $ 391 million , record quarterly Debt Underwriting net revenues of $ 286 million and Equity Underwriting net revenues of $ 324 million , a record for a second quarter O 0 O 0 O O O June 28 , 2021 O Jefferies Financial Group O Quarterly combined Capital Markets net revenues of $ 500 million , down 31.5 % over the prior year quarter ; Equities net revenues of $ 243 million , a record for a second quarter , and Fixed Income net revenues of $ 257 million O Record second quarter Asset Management revenues ( before allocated net interest ) of $ 56 million , up 202 % over the prior year quarter and including $ 15 million in management , performance and similar fees and revenues earned directly or through our strategic affiliates Liquidity buffer of $ 8.3 billion of cash and unencumbered liquid collateral at May 31 , 2021 , which represented 16 % of our total balance sheet Net income attributable to common shareholders for the second quarter was $ 353 million , or $ 1.30 per diluted share , and annualized adjusted return on tangible equity was 19.2 % ¹ Merchant Banking pre - tax income of $ 59 million , reflecting record quarterly results from Idaho Timber and mark - to - market increases in the value of several of our investments in public and private companies Highlights for the six months ended May 31 , 2021 : Jefferies Group LLC Record six months net revenues of $ 3,747 million , up 70 % over the prior year comparable period's then all - time record net revenues 1