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FOR IMMEDIATE RELEASE Jefferies Financial Group Announces Third Quarter 2021 Financial Results Jefferies Group Delivers Record Third Quarter and Nine Months Revenue and Net Income New York , New York September 30 , 2021 Jefferies Financial Group Inc. ( NYSE : JEF ) today announced its financial results for the three and nine months ended August 31 , 2021. For the third quart Net income attributable to common shareholders was $ 407 million , or $ 1.50 per diluted share , and annualized adjusted return on tangible equity was 21.4 % ¹ . For the nine months ended August 31 , 2021 , Net income attributable to common shareholders was $ 1.34 billion , or $ 4.93 per diluted share , and annualized adjusted return on tangible equity was 26.1 % ² . In addition , the Jefferies Board of Directors declared a quarterly cash dividend equal to $ 0.25 per Jefferies common share , payable on November 29 , 2021 to record holders of Jefferies common shares on November 15 , 2021. We expect to file our Form 10 - Q on or about October 8 , 2021 . Highlights for the three months ended August 31 , 2021 : Jefferies Group LLC Net revenues of $ 1.65 billion , a record for a third quarter and up 19 % over the prior year third quarter's then all - time record quarterly net revenues Pre - tax income of $ 560 million , a record for a third quarter and up 54 % over the prior year comparable quarter , and net earnings of $ 419 million , also a record for a third quarter and up 57 % over the prior year quarter Annualized return on tangible equity of 34.4 % ³ , compared with 23.2 % in the prior year quarter All - time record quarterly Investment Banking net revenues of $ 1.18 billion , up 100 % over the prior year quarter , including all - time record quarterly Advisory net revenues of $ 584 million , Equity Underwriting net revenues of $ 367 million and Debt Underwriting net revenues of $ 229 million , each a record for a third quarter , O O O O O 0 September 30 , 2021 O O O Jefferies Financial Group Net income attributable to common shareholders for the third quarter was $ 407 million , or $ 1.50 per diluted share , and annualized adjusted return on tangible equity was 21.4 % ¹ We repurchased 1.5 million shares for $ 52 million , or an average price of $ 34.51 per share , during the third quarter ( Jefferies was precluded from purchasing shares until the July 14 announcement of our Strategic Alliance with SMBC Group , which , as previously reported , includes credit facilities to Jefferies Group of $ 350 million and Jefferies Finance of $ 1.9 billion , and the purchase by SMBC Group of up to 4.9 % of Jefferies common shares in the open market ) O Quarterly combined Capital Markets net revenues of $ 442 million , down 32.5 % over the prior year quarter , including Equities net revenues of $ 237 million and Fixed Income net revenues of $ 206 million Third quarter Asset Management net revenues ( before allocated net interest ) of $ 10 million , down significantly from the robust prior year quarter Record Liquidity buffer of $ 9.20 billion of cash and unencumbered liquid collateral at August 31 , 2021 , which represented 18 % of Jefferies Group's total balance sheet Our Board of Directors has increased our share buyback authorization by $ 52 million back to a total of $ 250 million .