Mrkt q3 14 results presentation

Third quarter 2014 financial resultsNovember 12th 2014

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Important notice

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intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties,

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You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press

release. All forward-looking statements are qualified in their entirety by this cautionary statement.

Non-IFRS financial measures

This presentation also includes measures defined by the SEC as non-IFRS financial measures. Markit believes that these non-

IFRS measures can provide useful supplemental information to securities analysts, investors and other interested parties

regarding financial and business trends relating to its financial condition and results of operations when read in conjunction with

the company’s reported results. Definitions and reconciliations of these non-IFRS measures to most directly comparable IFRS

financial measures are available in the Appendix of this presentation and in Markit’s earnings release dated November 12, 2014.

Copyright ©2014, Markit Group Limited. All rights reserved and all intellectual property rights are retained by Markit.

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Agenda

Third quarter 2014 overview

Lance Uggla, CEO

Third quarter and nine months 2014 financial results

Jeff Gooch, CFO

Appendix

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Third quarter 2014 overview

Lance Uggla

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Q3 2014 financial results overview

Strong third quarter financial performance

─ Revenue increased 13.1% to a quarterly record of $269.7 million

─ Constant currency revenue growth +11.1% (8.1% organic, 3.0% acquired)

─ Driven by revenue growth in all three business segments:

─ Information +6.8%, organic growth +4.8%─ Processing +12.5%, organic growth +9.4%─ Solutions +26.2%, organic growth +13.1%, acquired growth +12.1%

─ Recurring revenue of 94.9%; recurring fixed revenue increased to 53.6% of total revenue from 50.8%

─ Continued profitability and strong margins maintained

─ Adjusted EBITDA grew 14.5%; Adjusted EBITDA margin of 47.3%

─ Adjusted Earnings was $68.7 million and Adjusted EPS diluted was $0.37

Adjusted EBITDA is defined as profit for the period from continuing operations before income taxes, net finance costs, depreciation and amortisation on fixed assets and intangible assets (including acquisition related intangible assets), acquisition related items, exceptional items, share based compensation and net other gains or losses and excluding Adjusted EBITDA attributable to non-controlling interests. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue, excluding revenue attributable to non-controlling interests. Adjusted Earnings is defined as profit for the period from continuing operations before amortisation of acquired intangibles, acquisition related items, exceptional items, share based compensation, net other gains or losses and unwind of discount, less the tax effect of these adjustments and excluding Adjusted Earnings attributable to non-controlling interests. Adjusted EPS diluted is defined as Adjusted Earnings divided by the weighted average number of shares used to compute earnings per share, diluted.

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Q3 2014 financial results overview

Third quarter 2014 highlights

─ Strong financial performance and organic growth across all three business segments

─ Organic growth in Information through product enhancements and penetrating new customers

─ Strong Processing volumes driven by market volatility; no significant revenue impact from electronic trading

─ Solutions achieved double digit growth driven by demand across all major products

─ Well positioned to deliver on longterm financial objectives

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Q3 and 9 months 2014 financial results

Jeff Gooch

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Q3 and 9M 2014 financial results

Summary financial results

($ million)

Q3 2014 Q3 2013 YoY% 9M 2014 9M 2013 YoY%

Revenue 269.7 238.4 13.1% 793.7 704.1 12.7%

Constant currency growth - - 11.1% - - 10.4%

Adjusted EBITDA (1) 126.8 110.7 14.5% 363.5 312.9 16.2%

Adjusted EBITDA margin (2) 47.3% 46.4% - 45.9% 46.0% -

Adjusted Earnings (3) 68.7 64.7 6.2% 209.9 183.0 14.7%

Adjusted EPS diluted (4) $0.37 $0.37 - % $1.14 $1.04 9.6%

Weighted average number of shares used to compute earnings per share, diluted

187.9 176.5 6.5% 183.6 175.8 4.4%

1. Adjusted EBITDA is defined as profit for the period from continuing operations before income taxes, net finance costs, depreciation and amortisation on fixed assets and intangible assets (including acquisition related intangible assets), acquisition related items, exceptional items, share based compensation and net other gains or losses and excluding Adjusted EBITDA attributable to non-controlling interests.

2. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue, excluding revenue attributable to non-controlling interests.

3. Adjusted Earnings is defined as profit for the period from continuing operations before amortisation of acquired intangibles, acquisition related items, exceptional items, share based compensation, net other gains or losses and unwind of discount, less the tax effect of these adjustments and excluding Adjusted Earnings attributable to non-controlling interests.

4. Adjusted EPS diluted is defined as Adjusted Earnings divided by the weighted average number of shares used to compute earnings per share diluted.

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Revenue growth($ million)

$238.4

$19.3

$7.1 $4.9

$269.7

$200

$210

$220

$230

$240

$250

$260

$270

$280

Q3 2013revenue

Organicgrowth

Acquiredgrowth

FX /Currency

impact

Q3 2014revenue

+8.1%

+3.0%

+2.0%

+13.1%

$704.1 $53.1 $20.6 $15.9 $793.7

$200

$300

$400

$500

$600

$700

$800

$900

9M 2013revenue

Organicgrowth

Acquiredgrowth

FX /Currencyimpact

9M 2014revenue

+7.5%+2.9%

+2.3%

+12.7%

Q3 2014 vs. Q3 2013 9M 2014 vs. 9M 2013

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Revenue mix - Q3 2014

$ million/ % Q3 2014 % Q3 2013 % YoY YoY%

Recurring fixed $144.6 53.6% $121.1 50.8% $23.5 2.8%

Recurring variable $111.4 41.3% $108.0 45.3% $3.4 (4.0)%

Non-recurring $13.7 5.1% $9.3 3.9% $4.4 1.2%

Total Revenue $269.7 $238.4 $31.3

53.6%41.3%

5.1%

Recurring fixed

Recurring variable

Non-recurring

Q3 2014: $269.7 million

Key features:

─ Recurring fixed revenue increased due primarily to new business wins

─ Recurring variable revenue decreased as a percentage of total revenue

─ Non-recurring revenue increased due to new business wins in Solutions

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Operating expenses

($ million)

Q3 2014 Q3 2013 YoY% 9M 2014 9M 2013 YoY%

Personnel costs

(86.7) (77.9) 11.3% (265.1) (231.5) 14.5%

Non personnelcosts

(55.9) (49.8) 12.2% (164.8) (148.2) 11.2%

Total operating expenses

(142.6) (127.7) 11.7% (429.9) (379.7) 13.2%

Q3 highlights:

─ Personnel costs increased due to acquisitions and new hires

─ Employee growth was predominantly in low cost locations

─ Non personnel costs increased due to public company running costs and investments in new product development

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Information

($ million)

115.5123.4

54.461.1

0

25

50

75

100

125

150

Q3 2013 Q3 2014

Revenue Adjusted EBITDA

+6.8%

Q3 2014 Q3 2013 YoY% 9M 2014 9M 2013 YoY%

Revenue 123.4 115.5 6.8% 363.3 342.7 6.0%

Organic growth - - 4.8% - - 3.8%

Adjusted EBITDA 61.1 54.4 12.3% 174.9 160.8 8.8%

Adjusted

EBITDA margin 49.5% 47.1% - 48.1% 46.9% -

Q3 highlights:

─ Strong revenue growth in Pricing and Reference data

─ Revenue growth in Valuation and Trading Services, despite wind down of Markit Trade Reporting

─ Customer retention and renewals remain strong

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Processing

($ million)

Q3 highlights:

─ Loans processing revenue growth driven by increased activity in secondary market

─ Derivatives processing revenue benefitted from high trading volumes due to increased market volatility

─ Limited revenue impact from SEF regulations YTD

64.272.2

34.641.9

0

25

50

75

100

Q3 2013 Q3 2014


+12.5%

Q3 2014 Q3 2013 YoY% 9M 2014 9M 2013 YoY%

Revenue 72.2 64.2 12.5% 216.4 200.3 8.0%

Organic growth - - 9.4% - - 4.8%

Adjusted EBITDA 41.9 34.6 21.1% 120.1 108.3 10.9%

Adjusted

EBITDA margin58.0% 53.9% - 55.5% 54.1% -

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Impact of electronic trading on Processing

~40%~60%

Loans /FX /Equities

Rates /Credit

~30%

~30%

Rates /Credit notimpacted

Rates /Creditimpacted

9M 2014 Processing revenue by asset class

Rates / Credit revenue

Regulation will introduce trading rules that affect standardized OTC derivatives over the next three years

─US: CFTC already enacted rules, SEC yet to issue final rules

─Europe: consultation late 2014 with likely implementation late 2016 or 2017

─Asia: various jurisdictions in different stages of implementation

Loans / FX / Equities

─No anticipated material impact from new regulations, low double digit 2014 YTD growth

─Future growth will come from strong market volume increases in Loans and increased market share and new solutions in FX and Equities

Rates / Credit

─Half of Rates / Credit revenue derives from less liquid products and markets which are unlikely to be impacted by trading rules

─For electronic/cleared trades, simpler processing results in lower revenues per ticket (up to ~80% lower ticket price)

─Electronic/cleared trading impact on market share and volumes not fully known

─Revenue impact estimated to be phased in over three years through 2017

Gross estimated annual revenue impact of $50–60m

Potential mitigants to financial impact:

─Further growth in Loans, Equities, and FX

─New services such as FX Options

─Trade volume increases due to electronic trading

─Managing costs to minimize the EBITDA impact

9M 2014: $216.4 million

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Solutions

($ million)

58.7

74.1

21.7 24.1

0

25

50

75

100

Q3 2013 Q3 2014


+26.2%

Q3 2014 Q3 2013 YoY% 9M 2014 9M 2013 YoY%

Revenue 74.1 58.7 26.2% 214.0 161.1 32.8%

Organic growth - - 13.1% - - 18.9%

Acquisition related - - 12.1% - - 12.8%

Adjusted EBITDA 24.1 21.7 11.1% 68.8 55.3 24.4%

Adjusted EBITDA

margin32.5% 37.0% - 32.1% 34.3% -

Q3 highlights:

─ Double digit organic revenue growth driven by new business wins across Managed Services and Enterprise Software

─ Markit Corporate Actions, thinkFolio, and CTI acquisitions contributed +12.1% to revenue growth

─ Adjusted EBITDA margins lower due to continued investment in growth initiatives

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Exceptional items($ million)

Q3 2014 Q3 2013 9M 2014 9M 2013

Legal advisory costs (1.1) (1.6) (4.0) (3.8)

Impairments (8.3) (12.7) (8.3) (12.7)

Profit on sale of available-for-sale financial asset

- - - 4.2

IPO preparation and execution costs - - (12.1) -

Accelerated IFRS 2 charges - - (7.3) -

Recognition of liability for social security costs on option exercise

- - (20.1) -

Total exceptional items (9.4) (14.3) (51.8) (12.3)

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Net debt / leverage

($ million)

1. LTM Adjusted EBITDA is defined as Adjusted EBITDA for the previous twelve month period to date reported

September30th 2014

December31st 2013

Bank borrowings 274.3 268.0

Share buyback 235.1 306.6

Total borrowings 509.4 574.6

Cash and cash equivalents (81.1) (75.3)

Net debt 428.3 499.3

LTM Adjusted EBITDA(1) 471.9 421.3

Leverage (Net debt/ LTM Adjusted EBITDA)

0.91x 1.19x

Q3 highlights:

─ Net debt down 14.2% or $71.0 million

─ Leverage remains low at 0.91x

─ $88.0 million capital expenditure YTD 2014, down 7.1% or $6.7 million year on year

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Appendix

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Definitions

Revenue growth

We measure revenue growth in terms of organic revenue growth, acquisition related revenue growth and foreign currency impact on revenue growth. We define these components as follows:

Organic – Revenue growth from continuing operations from factors other than acquisitions and foreign currency fluctuations. We derive organic revenue growth from the development of new products and services, increased penetration of existing products and services to new and existing customers, price changes for our products and services and market driven factors such as increased trading volumes or changes in customer assets under management.

Acquisition related – Revenue growth from acquired businesses through the end of the fiscal year following the fiscal year in which the acquisition was completed. This growth results from our strategy of making targeted acquisitions that facilitate growth by complementing our existing products and services and addressing market opportunities.

Foreign currency – The impact on revenue growth resulting from the difference between current revenue at current exchange rates and current revenue at the corresponding prior period exchange rates.

Constant currency – Total revenue growth, excluding the impact of exchange rate movements from the prior period to the current period. This is equal to the combination of organic and acquisition related revenue growth, as described above.

Revenue by type

Revenue by type is how we classify the income recognised from the sale of our products and services into three groups as defined below:

Recurring fixed revenue – Revenue generated from contracts specifying a fixed fee for services delivered over the life of the contract. The fixed fee is typically paid annually, semiannually or quarterly in advance. These contracts are typically subscription contracts where the revenue is recognised across the life of the contract. The initial term of these contracts can range from one to five years and usually includes auto-renewal clauses.

Recurring variable revenue – Revenue derived from contracts that specify a fee for services which is typically not fixed. The variable fee is typically paid monthly in arrears. Recurring variable revenue is based on, among other factors, the number of trades processed, assets under management or the number of positions we value. Many of these contracts do not have a maturity date while the remainder have an initial term ranging from one to five years.

Non-recurring revenue – Revenue that relates to certain software license sales and the associated consulting revenue.

Other Non-IFRS Measures

Adjusted EBITDA is defined as profit for the period from continuing operations before income taxes, net finance costs, depreciation and amortisation on fixed assets and intangible assets (including acquisition related intangible assets), acquisition related items, exceptional items, share based compensation and net other gains or losses and excluding Adjusted EBITDA attributable to non-controlling interests.

Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue, excluding revenue attributable to non-controlling interests.

LTM Adjusted EBITDA is defined as Adjusted EBITDA for the previous twelve month period from date reported

Adjusted Earnings is defined as profit for the period from continuing operations before amortisation of acquired intangibles, acquisition related items, exceptional items, share based compensation, net other gains or losses and unwind of discount, less the tax effect of these adjustments and excluding Adjusted Earnings attributable to non-controlling interests.

Adjusted EPS diluted is defined as Adjusted Earnings divided by the weighted average number of shares used to compute earnings per share, diluted.

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Shares outstanding

Summary

─ Average share price is a key driver of the dilution calculation, an indicative estimate of the impact of share price fluctuations on diluted share count is shown in the table.

─ Weighted average number of shares, diluted is calculated in accordance with IFRS

─ The majority of options priced at below $26.70 vested on IPO

─ Options priced at $26.70 largely vest in tranches over a 5 year period from IPO date or January 2014

─ Option exercises will generate substantial cash inflows as well as cash tax benefits

─ Surplus cash will be used for general corporate purposes including investment in our business and to pursue acquisitions

(million except share price)2014 2013

Weighted average number of shares, basic 180.0 175.3

Option dilution 6.9 0.8

Restricted shares dilution 1.0 0.4

Weighted average number of shares, diluted 187.9 176.5

Share price used for Q314 dilution calculation $25.14 -

Illustrative average share price

Illustrative diluted averagenumber of shares (million)

$23 186.0

$27 189.9

$30 195.6

Exercise price Outstanding (million) Unvested (million)

< $15.00 4.8 –

$15.00- $19.99 6.1 1.1

$20.00- $26.69 22.3 8.9

> $26.69 33.7 33.2

Total 66.9 43.2

Three months ended September 30th – Reported

Illustrative weighted average diluted number of shares three months ended September 30th 2014

Total outstanding options at September 30th 2014

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Reconciliation to Adjusted EBITDA

($ million)

Q3 2014 Q3 2013 9M 2014 9M 2013 FY 2013

LTM ended

Sep. 2014

Profit for the period 79.2 32.4 148.4 144.1 147.0 151.3

Income tax expense 11.6 16.5 36.8 52.1 63.7 48.4

Finance costs – net 4.5 4.7 12.8 15.0 19.4 17.2

Depreciation and amortisation 25.1 21.9 71.9 62.4 86.0 95.5

Amortisation – acquisition related 15.0 12.6 43.3 37.0 50.1 56.4

Acquisition related items (16.0) 0.1 (11.0) 0.2 (1.4) (12.6)

Exceptional items 9.4 14.3 51.8 12.3 60.6 100.1

Share based compensation and related items 0.7 2.0 6.8 5.9 8.1 9.0

Other losses/ (gains) – net (2.4) 6.2 3.0 (4.6) (0.7) 6.9

Adjusted EBITDA attributable to non-controlling interests

(0.3) - (0.3) (11.5) (11.5) (0.3)

Adjusted EBITDA 126.8 110.7 363.5 312.9 421.3 471.9

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Reconciliation to Adjusted Earnings

($ million)

1. Unwind of discount represents the non-cash unwinding of discount, recorded through finance costs – net in the income statement, primarily in relation to our share buyback liability.

Q3 2014 Q3 2013 9M 2014 9M 2013

Profit for the period 79.2 32.4 148.4 144.1

Amortisation – acquisition related 15.0 12.6 43.3 37.0

Acquisition related items (16.0) 0.1 (11.0) 0.2

Exceptional items 9.4 14.3 51.8 12.3

Share based compensation and related items 0.7 2.0 6.8 5.9

Other losses/ (gains) – net (2.4) 6.2 3.0 (4.6)

Unwind of discount(1)

2.9 3.0 7.8 9.8

Tax effect of above adjustments (20.4) (5.9) (40.5) (12.0)

Adjusted Earnings attributable to non-controlling interests 0.3 - 0.3 (9.7)

Adjusted Earnings 68.7 64.7 209.9 183.0

Weighted average number of shares for computation of earnings per share, diluted

187,893,323 176,547,638 183,630,386 175,835,360

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