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Tel Aviv Stock Exchange Ltd. Investor Presentation 2022

May 24, 2022

7071_rns_2022-05-24_e292039c-b72f-4a8a-aa03-7498fe57cc21.pdf

Investor Presentation

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Tel-Aviv Stock Exchange (TASE) Investors Presentation

First quarter 2022

1

IMPORTANT: You must read the following before continuing. The following applies to the presentation with respect to The Tel-Aviv Stock Exchange Limited and its subsidiaries and affiliates (collectively, "TASE"). In accessing the presentation, you agree to be bound by the following terms and conditions.

The presentation does not constitute or form part of, and should not be construed as an offer or the solicitation of an offer to subscribe for or purchase the securities of TASE, and nothing contained therein shall form the basis of or be relied on in connection with any contract or commitment whatsoever, nor does it constitute a recommendation regarding the securities. Any investment decision in respect of the securities should be made solely on the basis of the information to be contained in the public reports of TASE.

The information in the presentation is basic and concise while the public reports of TASE contain more detailed information which may be different from, or additional to, the information contained in this presentation. In the event of any contradiction or discrepancy between the presentation and the public reports, the information in the public reports prevails. Thus, the presentation is not intended to serve as a substitute to reading TASE's public reports.

The Information contains statements and information that are forward-looking. Such forward-looking statements and information are only predictions and cannot assure TASE's future performance. Investors have been cautioned that any such forward-looking statements and information are subject to many risks and uncertainties relating to the operations and business of TASE. As a result of such risks and uncertainties, the actual results of TASE may be materially different from any future result expressed or implied in the forward-looking statement or information contained herein. Any opinions expressed in this presentation are subject to change without notice and TASE is not under obligation to update or keep current any of the forward-looking statement or information contained herein.

No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained therein. The information, including but not limited to forward-looking statements, applies only as of the date of this presentation and is not intended to give any assurances as to future results. TASE expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the information, including any financial data or forward-looking statements, and will not publicly release any revisions it may make to the information that may result from any change in TASE's expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date of this document

TASE at a Glance / Q1'22 by the Numbers

Established in 1953, TASE is the only Securities Exchange in Israel and a cornerstone of its growing capital market

TASE plays a critical role in the market infrastructure of Israel as well as the overall growth of its economy

  • "Home court" for Israeli companies looking to raise capital
  • Primary source of capital raising for the Israeli government
  • Only clearing house infrastructure in Israel, including clearing/ settlement of mutual funds (major retail investing channel)

(1) Includes corporate, government bonds ,ETFs and structured bonds. (2) Excludes options on single shares and TA-Banks indices. (3) Includes corporate, government and structured bonds.

(4) 7% of the increase in revenue is due to the update of the period of revenue recognition from listing fees on shares and ETFs pursuant to International Financial Reporting Standard, "Revenue from Contracts with Customers" (IFRS 15).

The results for Q1'22

NIS, in thousands

Quarter Ended
IFRS (GAAP) March 31,
2022		 March 31,
2021		 Difference
-%
Revenue from services 97,676 78,370 25%(1)
Expenses 73,406 65,674 12%
Profit before financing income, net 24,270 12,696 91%
Financing income (expenses) (5,207) 134 )3,986%(
Taxes on income 4,344 3,169 37%
Profit for the quarter 14,719 9,661 52%
Diluted
EPS (in NIS)		 0.141 0.093 52%
Non GAAP
Adjusted EBITDA(2) 36,849 24,556 50%
%
EBITDA
Adjusted margin		 38% 31%
Adjusted net profit(2) 14,850 9,894 50%
% Adjusted net profit margin 15% 13%

(1) 7% of the increase in revenue is due to the update of the period of revenue recognition from listing fees on shares and ETFs pursuant to International Financial Reporting Standard, "Revenue from Contracts with Customers" (IFRS 15).

(2) Adjusted EBITDA and Adjusted Net Profit exclude expenses in respect to share-payments.

Revenue Q1'22

NIS, in thousands

Quarter Ended
March 31,
2022		 % of the
Company's
total
revenues		 March 31,
2021		 % of the
Company's
total
revenues		 Difference
-%
Trading and
clearing
commissions		 39,445 40% 34,115 44% 16% 15%
of
the
increase
in
revenue
from
trading
and
clearing
commissions
is
due
to
the
higher
share
trading
volumes
compared
to
the
corresponding
quarter
last
year,
and
3%
of
the
increase
in
revenue
is
due
to
an
increase
(two
trading
days)
in
the
number
of
trading
days
this
quarter
compared
to
the
corresponding
quarter
last
year.
Listing fees and
levies		 24,789 25% 16,402 21% 51% 36%
of
the
increase
in
revenue
from
listing
fees
and
levies
is
due
to
the
updating
of
the
estimate
concerning
the
period
of
recognition
of
revenue
from
listing
fees
on
shares
and
ETFs
pursuant
to
International
Financial
Reporting
Standard,
"Revenue
from
Contracts
with
Customers"
(IFRS
15),
and
to
a
15%
increase
in
revenue
from
listing
fees
and
levies
as
a
result
of
an
increase
in
the
number
of
companies.
Clearing House
services		 17,352 18% 15,051 19% 15% 8%
of
the
increase
in
revenue
from
Clearing
House
services
is
due
to
an
increase
in
Clearing
House
services
to
members,
and
6%
of
the
increase
is
due
to
the
rise
in
revenue
from
custodian
fees
as
a
result
of
the
increase
in
the
value
of
assets
that
are
held
in
custodianship
at
TASE-CH.
Data
distribution and
Connectivity
services		 14,299 15% 12,630 16% 13% 6%
of
the
increase
in
revenue
from
data
distribution
and
connectivity
services
is
due
to
a
rise
in
revenue
from
connectivity
services
and
6%
of
the
increase
is
due
to
the
updating
of
the
pricelist
during
2021
for
customers
outside
Israel.
Other revenue 1,791 2% 172 0% 941% The
revenue
for
the
quarter
includes
revenue
from
the
sale
of
technological
consulting
services
of
NIS
0.7
million,
revenue
from
the
Conference
Center
and
trade
openings
of
NIS
0.6
million,
and
NIS
0.4
million
from
the
rent
of
an
office
floor.
Total
revenue		 97,676 100% 78,370 100% 25%

Other revenue

Adjusted Expenses(*) Q1'22

NIS, in thousands

Quarter Ended
March 31,
2022		 % of the
Company's
total
Expenses		 % of the
Company's
total
Expenses		 Difference
-%
Compensation 40,153 55% 37,396 57% 7%
Computer and
Communications		 6,830 9% 6,709 10% 2%
Property Taxes and Building
Maintenance		 3,140 4% 3,048 5% 3%
Marketing 5,740 8% 1,727 3% 232%
Fee to the Israel Securities
Authority		 2,306 3% 2,253 3% 2%
General and Administrative 2,658 4% 2,681 4% )1%(
Depreciation & amortization 12,448 17% 11,572 18% 8%
-
Other		 0% 55 0% )100%(
Total Expenses 73,275 100% 65,441 100% 12%

  • Compensation
  • Computer and communication
  • Property taxes and building maintenance Marketing
  • Fee to the Israeli Securities Authority
  • General and administrative
  • Depreciation and amortization
  • Other

Balance Sheet and Liquidity Position

as of March 31st 2022 | NIS Thousands

Assets:
Current assets
Cash and cash equivalents 213,259
Financial assets at fair value through profit or loss 203,843
Trade receivables 16,179
Other receivables 22,326
Total(1) 455,607
Assets derived from clearing operations in respect of open
derivative positions		 572,152
Total current assets 1,027,759
Non-current assets
Cash restricted as to use 720
Deferred tax assets 12,254
Property and equipment, net 333,184
Intangible assets, net 130,111
Other long-term receivables 2,233
Total non-current assets 478,502
Total assets 1,506,261
Liabilities and Equity:
Current liabilities
Current maturities of lease liabilities 8,580
Trade payables 16,885
Other payables 5,527
Dividend declared 22,735
Income received in advance with respect to annual levies 26,053
Deferred income in respect of listing fees and levies 29,640
Current tax liabilities 2,916
Short-term liabilities for employee benefits 35,679
Total )1( 148,015
Liabilities derived from clearing operations in respect of open
derivative positions		 572,152
Total current liabilities 720,167
Non-current liabilities:
Lease liabilities 12,411
Deferred income in respect of listing fees and levies 78,563
Non-current liabilities for employee benefits 24,922
Other liabilities 720
Total non-current liabilities 116,616
Total equity 669,478
Total liabilities and equity 1,506,261
Equity Ratio 44%
38,289
5,562
45,856
122,750
28,107
240,564
669,478
)117,694(
551,784
311,220
122,750
28,107
150,857
213,259
203,843
)9,938(
)119,390(
287,774
136,917

311 NIS in Millions Excess Capital

137 NIS in Millions Excess Liquidity

Cash Flow NIS in Millions

Item Q1'22 2021 Q4'21 Q3'21 Q2'21
Operating
Activities		 Adjusted EBITDA(1) 36.8 103.0 29.5 22.8 26.2
Changes in working capital 13.1 13.8 11.1 )8.4( )7.3(
Financing and tax )2.6( )10.4( )4.0) )3.6( )1.6(
Total 47.3 106.4 36.6 10.8 17.3
Investments in property and equipment and in
intangible assets and capitalized payroll costs		 )15.5( )35.6( )6.2( )6.6( )9.6(
Investing
Activities		 Acquisition of financial assets at fair value - )4.6( )1.5( 0.7 )2.3(
Total )15.5( )40.2( )7.7( )5.9( )11.9(
Lease payments )2.2( )9.1( )2.3( )2.3( )2.3(
Financing
Activities		 Payments carried directly to equity within the
framework of implementing the TASE
Restructuring Law, net		 3.8 )0.8( )0.8( - -
Dividend
payment		 - )18.5( - - )18.5(
Total 1.6 (28.4) (3.1) )2.3( )20.8(
Total increase in cash and cash equivalents 33.4 37.8 25.8 2.6 )15.4(
Free Cash Flow
(2)		 29.6 61.7 28.1 1.9 5.4

(1) Exclude expenses in respect to share-payments

(3) .

(2) FCF includes the net cash from operating activities, less Investments in property and equipment and in intangible assets and Lease payments

Revenue Trends

NIS in Millions

.

Adjusted Operating Expenses(1) Trends

NIS in Millions

Profitability Trends

NIS in Millions

20%

100.0

18%

Adjusted Net Profit & Margin (1) 21.4 38.2 46.2 51.2 8% 13% 14% 15% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 2019 2020 2021 LTM 10.6 10.4 5.6 11.5 9.9 12.3 9.8 14.2 14.9 13% 14% 8% 15% 13% 15% 13% 15% 0% 2% 4% 6% 8% 10% 12% 14% 16% 0.0 5.0 10.0 15.0 20.0 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22

17%

Issuance Volume

(2) Excludes Private Placements. Includes TASE-UP

APPENDIX

13

Q1'22 Revenue Composition

Revenue Drill Down | Transactional - Shares

Revenue Capture %

Revenue

(NIS millions)

Velocity Represents: Calculated as annualized trading volumes divided by average market capitalization Includes ETFs and ETNs

Revenue Drill Down | Transactional - Bonds

Revenue Drill Down | Transactional - Mutual Funds

Revenue Drill Down | Transactional – Derivatives

Daily Contracts (thousands)

Revenue Drill Down | Non-transactional

NIS in Millions Unless Otherwise Noted

Yield

* As of 2020, the value of assets in each period is calculated as the monthly average in the period. The value of assets in 2019 is presented as the value for the end of the period . ** The collection of revenues based on the value of assets at the end of each month.

19

0.00109%

Revenue Drill Down | Non-transactional

NIS in Millions Unless Otherwise Noted

• In the first quarter of 2022, an update was made to the period of revenue recognition from listing fees on shares and ETFs pursuant to International Financial Reporting Standard, "Revenue from Contracts with Customers" (IFRS 15).

Q1'22 Adjusted Expense Composition

  • Compensation
  • Computer and communication
  • Property taxes and building maintenance
  • Marketing
  • Fee to the Israeli Securities Authority
  • General and administrative
  • Depreciation and amortization
  • Other

Compensation

▪ The 2017 Collective Agreement sets the maximum annual increase in employee base compensation to the greater of 3.5% or CPI plus 1.5%(1)

▪ Q1'22: NIS 40.2M

General and Administrative

  • Costs associated with professional services, overhead, supplies, utilities, and insurance
  • Q1'22: NIS 2.7M

Computer and Communications

  • Expenses associated with maintenance, support, and software licenses
  • Q1'22: NIS 6.8M

Property Taxes and Building Maintenance

▪ Expenses associated with owning the TASE headquarters

Fee to the Israel Securities Authority

▪ Annual fee to the Company's

primary regulator

▪ Q1'22: NIS 2.3M

▪ Q1'22: NIS 3.1M

Marketing

  • General marketing expenses including marketing to increase listings and capital raises
  • Q1'22: NIS 5.7M

Depreciation & Other

▪ Q1'22: NIS 12.5M

Note: Expenses exclude expenses to share-based payments. (1) The Chairman of the Board, CEO and Vice Presidents have individual employment contracts, not subject to the 2017 Collective Agreement.

Adjusted Net Profit and Adjusted EBITDA Reconciliation

NIS in Thousands

Quarter Ended
March 31,
2022		 March 31,
2021
Profit for the year 14,719 9,661
Adjusted Net Profit
Reconciliation		 (+) Expenses in respect to share-based payments 131 233
Adjusted Net Profit 14,850 9,894
Quarter Ended
March 31,
2022		 March 31,
2021
Profit before financing income, net 24,270 12,696
(+) Expenses in respect to share-based payments 131 233
Adjusted EBITDA
Reconciliation		 (+) Depreciation and amortization expenses 12,448 11,572
(+) Loss from disposal of property and equipment and
intangible assets		 - 55
Adjusted EBITDA 36,849 24,556

Transactional Metrics

Quarter Ended Year ended
31.03.22 31.12.21 30.09.21 30.06.21 31.03.21 31.12.21 31.12.20 31.12.19
Number of trading days 64 65 56 61 62 244 248 244
SHARES
Market cap of Shares (ex. ETFs) 1,135 1,125 1,015 958 877 1,125 842 820
Market cap of ETFs on share indices 76 75 68 70 66 75 61 64
Total market cap (in NIS billions) 1,211 1,200 1,083 1,028 943 1,200 903 884
Shares ADV (ex. ETFs) 2,093 1,596 1,424 1,594 1,545 1,543 1,465 1,081
ETFs on share indices ADV 504 373 362 289 315 335 393 219
Total average daily volume (in NIS millions) 2,597 1,969 1,786 1,883 1,859 1,878 1,858 1,300
Average commissions 0.01043% 0.01090% 0.01098% 0.01045% 0.01091% 0.01081% 0.01067% 0.01022%
Revenue (in NIS thousands) 17,340 13,956 10,997 12,007 12,578 49,538 49,150 32,434
BONDS
Market cap of government bonds -unlinked 331 364 369 367 361 364 351 275
Market cap of government bonds -linked 334 341 300 306 293 341 280 257
Market cap of corporate bonds 422 426 403 393 389 426 388 411
Market cap of bonds (ex.ETFs) 1,087 1,131 1,072 1,066 1,043 1,131 1,019 943
Market cap of ETFs on bond indices 30 32 32 31 31 32 31 29
Total market cap (in NIS billions) 1,117 1,163 1,104 1,097 1,074 1,163 1,050 972
Government bonds -
unlinked ADV (in NIS millions)		 1,702 1,962 1,521 1,595 2,354 1,868 1,959 1,722
Government bonds -
linked ADV (in NIS millions)		 1,030 1,011 994 1,260 1,346 1,155 1,100 897
Corporate bonds ADV excluding ETFs (in NIS millions) 820 855 763 804 696 781 928 798
ETFs on bond indices ADV 152 132 115 117 135 125 148 95
Total average daily volume (in NIS millions) 3,704 3,960 3,393 3,776 4,531 3,929 4,135 3,512
Government bonds unlinked -
average commissions		 0.00188% 0.00194% 0.00195% 0.00191% 0.00193% 0.00193% 0.00188% 0.00192%
Government bonds linked -
average commissions		 0.00283% 0.00297% 0.00288% 0.00288% 0.00270% 0.00285% 0.00294% 0.00291%
Corporate bonds -
average commissions		 0.00693% 0.00726% 0.00701% 0.00695% 0.00712% 0.00709% 0.00696% 0.00694%
Government bonds -
unlinked (in NIS thousands)		 2,053 2,478 1,665 1,854 2,820 8,817 9,116 8,052
Government bonds -
linked (in NIS thousands)		 1,869 1,950 1,606 2,212 2,254 8,022 8,022 6,367
Corporate bonds (in NIS thousands) 4,309 4,657 3,446 3,905 3,666 15,674 18,573 15,116
Other (MTS) (in NIS thousands) 103 95 54 77 73 299 135 187
Revenue (in NIS thousands) 8,334 9,180 6,771 8,048 8,813 32,812 35,846 29,722

Transactional Metrics | Continued

Year ended
31.03.22 31.12.21 30.09.21 30.06.21 31.03.21 31.12.21 31.12.20 31.12.19
Number of trading days 64 65 56 61 62 244 248 244
TREASURY BILLS
Market cap (in NIS billions) 126 115 105 101 91 115 87 120
Treasury bills ADV (in NIS millions) 470 367 222 228 449 320 579 413
Average commissions 0.00265% 0.00273% 0.00287% 0.00307% 0.00240% 0.00269% 0.00203% 0.00256%
Revenue (in NIS thousands) 797 652 357 427 668 2,104 2,920 2,581
MUTUAL FUNDS
Market cap (in NIS billions) 284 292 279 272 255 292 239 259
Average daily value of creation / redemptions (in
NIS millions)		 940 952 788 864 942 890 1,055 883
Average commissions 0.01134% 0.01134% 0.01297% 0.01240% 0.01160% 0.01200% 0.01016% 0.01100%
Revenue (in NIS thousands) 6,818 7,015 5,726 6,537 6,776 26,054 26,594 23,716
DERIVATIVES
Derivatives on indices (1) 125.3 120.8 109.1 90.7 104.1 106.4 112.1 96.6
Derivatives on foreign currency 43.3 43.8 44.0 49.5 54.3 47.9 55.0 45.4
Derivatives on individual shares 7.5 3.4 7.3 5.1 4.6 5.0 3.0 3.1
Total derivative contracts (in '000 units) 176.1 168.0 160.4 145.3 163.0 159.3 170.1 145.1
Average commissions 0.546 0.533 0.543 0.522 0.522 0.530 0.520 0.524
Revenue (in NIS thousands) 6,156 5,822 4,876 4,630 5,280 20,608 21,941 18,547
Total revenue from trading and clearing
commissions		 39,445 36,625 28,727 31,649 34,115 131,116 136,451 107,000

Non-Transactional Metrics

Quarter Ended Year ended
31.03.22 31.12.21 30.09.21 30.06.21 31.03.21 31.12.21 31.12.20 31.12.19
CLEARING HOUSE SERVICES
Average Monthly Market value of assets (in NIS
billions)*		 3,116 3,131 3,034 2,958 2,776 2,975 2,491 2,639
Avg. commissions from Custodian Fees 0.00108% 0.00109% 0.00108% 0.00108% 0.00108% 0.00108% 0.00107% 0.00105%
Revenue from: (in NIS thousands)
Custodian Fees 8,444 8,500 8,219 8,007 7,495 32,221 26,676 26,534
Clearing House services for members / company
events		 7,609 7,803 6,485 7,646 6,229 28,163 25,805 21,160
Other 1,299 1,275 1,227 1,292 1,327 5,121 4,972 4,637
Total revenue from Clearing House services 17,352 17,578 15,931 16,945 15,051 65,505 57,453 52,331
Quarter Ended
31.03.22 31.12.21 30.09.21 30.06.21 31.03.21 31.12.21 31.12.20 31.12.19
LISTING FEES AND LEVIES
Weighted avg. number of companies / funds
Companies 617 530 532 536 545 535 527 541
Mutual funds and ETFs 2,270 2,208 2,217 2,226 2,182 2,210 2,142 2,132
Avg. revenue from levies (in NIS thousands)
Companies 5.7 5.4 5.4 5.4 5.4 21.6 20.9 18.9
Mutual funds and ETFs 1.9 1.8 1.8 1.8 1.9 7.4 7.6 7.2
Revenue from Annual Levies from: (in NIS
thousands)
Companies 3,515 2,859 2,869 2,881 2,938 11,547 11,039 10,198
Mutual funds and ETFs 4,350 4,067 4,059 4,113 4,096 16,335 16,225 15,339
Nominee Company and others 1,564 1,339 1,320 1,263 1,256 5,178 3,067 2,530
Total revenue from Annual levies 9,429 8,265 8,248 8,257 8,290 33,060 30,331 28,067

25 *As of 2020, the value of assets in each period is calculated as the monthly average in the period. The value of assets in 2019 is presented as the value for the end of the period

Non-Transactional Metrics | Continued

Quarter Ended Year ended
31.03.22 31.12.21 30.09.21 30.06.21 31.03.21 31.12.21 31.12.20 31.12.19
LISTING FEES AND LEVIES
The value of issuance used to calculate Listing fees (in NIS millions)
Companies –
Shares, Bonds and ETFs(1)		 43,409 50,434 35,071 43,388 54,073 182,966 118,413 91,415
Government bonds (including swap transactions)(2) 15,418 55,418 17,434 35,471 49,633 157,956 164,779 86,115
Treasury-bills 40,929 36,992 30,985 30,953 31,996 130,926 100,924 131,684
Number of issuances
Number of public offerings of shares on TASE (including on TASE-UP) 29 31 36 46 57 170 115 60
Number of new issuers of shares 8 10 21 30 33 94 27 7
Number of new (dual-listed) companies 1 - - 1 1 2 3 3
Number of Offerings and Volumes Raised 0
Amount raised in share IPOs of new issuers (in NIS millions) 1,391 656 2,037 4,696 3,101 10,490 4,616 3,206
Amount raised in bond offerings by new issuers (in NIS millions) 272 105 - 140 119 364 100 1,728
Number of corporate bond offerings to the public 51 57 42 44 34 177 145 160
Number of corporate bond offerings to the public by new companies 2 1 - 2 2 5 1 4
Average revenue from Examination and Listing Fees(3) 0
Companies –
Shares, Bonds and ETFs		 0.0178% 0.0184% 0.0194% 0.0160% 0.0154% 0.0172% 0.0182% 0.023%
Revenue from Examination and Listing Fees (in NIS thousands) 0
Examination fees 2,320 2,223 1,866 2,565 2,332 8,986 6,843 5,416
Receipts from listing fees
Listing fees –
shares, bonds & ETF's		 7,741 9,295 6,815 6,949 8,329 31,388 21,570 20,958
Listing fees -
government bonds		 1,488 1,453 1,453 1,157 1,749 5,812 5,881 3,045
Listing of T-bills 287 259 217 216 224 916 707 922
Levies and examination fees from members 158 131 53 53 53 290 133 1,208
Other 53 18 49 90 5 162 218 746
Total receipts 9,727 11,156 8,587 8,465 10,360 38,568 28,439 26,879
Accounting adjustments to revenue recognition 3,313 (4,204) )1,834( )940( )4,580( )11,558( (5,796( (5,684)
Total revenue from listing fees 13,040 6,952 6,753 7,525 5,780 27,010 22,643 21,195
Total revenue from examination and listing fees (in NIS thousands) 15,360 9,175 8,619 10,090 8,112 35,996 29,556 26,611
Total revenue from listing fees and levies 24,789 17,440 16,867 18,347 16,402 69,056 59,887 54,678

(1) Value on listing date of a security, used to calculate the listing fees, as prescribed in the TASE Rules. The issuance volume in 2019 presented as the actual issuance amount was raised.

(2) Commencing in 2021, listing fees on government bonds will be charged according to a fixed amount over the entire period set out in the agreement between the Company and the Ministry of Finance, rather than a percentage of the amount raised. (3) In the first quarter of 2022, the Company examined the estimation of the period for recognition of revenue from listing fees on shares (in IPOs and secondary offerings) and on ETFs in accordance with International Financial Reporting Standard, "Revenue from Contracts with Customers" (IFRS 15)

Non-Transactional Metrics | Continued

Quarter ended Year ended
31.03.22 31.12.21 30.09.21 30.06.21 31.03.21 31.12.21 31.12.20 31.12.19
DATA DISTRIBUTION AND CONNECTIVITY SERVICES
Average number of data terminals
Domestic business clients(1) 7,718 7,658 7,178 7,584 7,785 7,551 7,559 7,274
Overseas business clients 5,480 5,053 4,955 4,850 4,852 4,927 4,496 4,886
Non-display data(2) 318 267 276 326 273 286 285 245
Revenue from data distribution and connectivity services (in NIS thousands)
Domestic business clients(1) 4,315 4,192 3,928 4,137 4,259 16,516 16,936 15,815
Overseas business clients 2,108 1,910 1,924 1,901 1,425 7,160 5,555 6,255
Private clients 2,285 2,228 1,977 2,050 2,322 8,577 7,975 5,474
Derivative data and non-display data(3) 1,005 1,014 1,019 1,093 828 3,954 3,172 1,582
Data files and other data 982 909 815 810 847 3,381 2,803 2,620
Authorization for indices usage 902 742 742 765 844 3,093 3,189 3,019
Connectivity services 2,702 2,521 2,522 2,439 2,105 9,587 8,778 7,654
Total revenue from data distribution and
connectivity services		 14,299 13,516 12,927 13.195 12,630 52,268 48,408 42,419

(1) The revenue from data distribution to a business client include differently priced data packages. The number of terminals for business clients includes only the data packages that contain all data groups. (2) The number of terminals attributed to quote generators.

(3) The revenues from non-display data packages include data packages that are differently priced for domestic clients and overseas clients, including quote generators.

CONTACTS

Yehuda van der Walde EVP CFO

Email: [email protected]

Tel: +972-76-8160442

Orna Goren Head of Communication & PR unit

28

Email: [email protected]

Tel: +972-76-8160405

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