Intercontinental Exchange, Inc. (ICE) is a leading global provider of technology and data, serving financial institutions, corporations, and governments. ICE's core business model centers around providing customers with mission-critical tools designed to increase asset class transparency and workflow efficiency. The company operates regulated marketplace technology for the listing, trading, and clearing of a broad array of derivatives contracts and financial securities. ICE also provides fixed income pricing, reference data, indices, analytics, and execution services, as well as global credit default swaps, or CDS, clearing and multi-asset class data delivery technology. In addition, ICE provides a technology platform that offers customers comprehensive, digital workflow tools that aim to address inefficiencies and mitigate risks that exist in the U.S. residential mortgage market life cycle.

ICE's market position is strengthened by its collective expertise in data services and technology across its platforms. The company has a significant geographic presence, with operations in major market centers around the world, including the U.S., U.K., EU, Canada, Asia Pacific and the Middle East. ICE competes with other exchanges, electronic trading systems, investment banks, data vendors, voice brokers, and mortgage and other technology providers.

• Employees: 13,222 (as of December 31, 2023)
• Geographic Footprint: U.S., U.K., EU, Canada, Asia Pacific and the Middle East
• Headquarters: Atlanta, Georgia
• Founded: 2000
• Number of locations/facilities: Multiple trading venues, including 13 regulated exchanges and six clearing houses
• Revenue: $7.988 billion (FY2023)
• Market Capitalization: $62.8 billion (as of the last business day of the second fiscal quarter)
• Key Subsidiaries/Brands: New York Stock Exchange, ICE Futures Europe, ICE Clear Europe, ICE Clear Credit, ICE Bonds, ICE Mortgage Technology

• CEO: Jeffrey C. Sprecher
• CFO: A. Warren Gardiner
• President, Fixed Income & Data Services: Christopher S. Edmonds
• SVP, Human Resources & Administration: Douglas A. Foley
• President: Benjamin R. Jackson
• Chief Technology Officer: Mayur V. Kapani
• Global Head of Clearing & Chief Regulatory Officer: Elizabeth K. King
• President, NYSE Group and Chair, ICE Fixed Income & Data Services: Lynn C. Martin
• General Counsel: Andrew J. Surdykowski
• Chief Operating Officer: Stuart G. Williams

Jeffrey C. Sprecher has been a director and our Chief Executive Officer since our inception and has served as Chair of our Board of Directors since November 2002. A. Warren Gardiner has served as Chief Financial Officer since May 2021.

• Annual Revenue: $7.988 billion (FY2023)
• Net Income: $2.368 billion (FY2023)
• Market Cap: $62.8 billion (as of the last business day of the second fiscal quarter)
• Total Assets: $136.084 billion (as of December 31, 2023)
• Employees: 13,222 (as of December 31, 2023)
• Key Financial Highlights: Revenues, less transaction-based expenses, increased 10% in 2023. Operating expenses increased 18% in 2023. Net income attributable to ICE increased 64% in 2023.

ICE's main product categories and service lines include:

• Exchanges: Regulated marketplace technology for the listing, trading and clearing of a broad array of derivatives contracts and financial securities.
• Fixed Income and Data Services: Fixed income pricing, reference data, indices, analytics and execution services, as well as global credit default swaps, or CDS, clearing and multi-asset class data delivery technology.
• Mortgage Technology: Technology platform that offers customers comprehensive, digital workflow tools that aim to address inefficiencies and mitigate risks that exist in the U.S. residential mortgage market life cycle.

Flagship offerings include the Brent crude oil contract, various global natural gas benchmarks, environmental markets, and the New York Stock Exchange.

ICE's major business divisions or segments are:

• Exchanges: Generated revenues, less transaction-based expenses, of $4.4 billion in 2023, accounting for 56% of consolidated revenues.
• Fixed Income and Data Services: Generated revenues of $2.2 billion in 2023, accounting for 28% of consolidated revenues.
• Mortgage Technology: Generated revenues of $1.3 billion in 2023, accounting for 16% of consolidated revenues.

In 2022, ICE announced its decision to cease its CDS clearing service at ICE Clear Europe, with the majority of the positions re-established at ICE Clear Credit in October 2023. All CDS products have been delisted at ICE Clear Europe.

ICE's current strategic priorities include:

• Innovate and expand the networks to address the rising demand for transparency and efficiency.
• Further develop our technology and risk management infrastructure while also increasing our customer base.
• Strengthen our competitive position through select acquisitions and strategic relationships.

ICE's long-term business goals include continuing to develop new and innovative products and services, enhance technology infrastructure, maintain liquidity, and offer competitive pricing. ICE intends to continue to explore and pursue acquisitions and other strategic opportunities to strengthen its competitive position globally, broaden its product offerings and services, and support the growth of the company.

ICE is focused on the implementation and execution of its long-term growth strategy. ICE's growth strategy has been to expand the networks by adding new data, technology, connectivity and other workflow tools. ICE is also focused on increasing the ease of access and connectivity with existing and prospective customers and expanding its customer base by leveraging existing relationships and global sales and marketing team. ICE also intends to expand its range of products and services.

ICE operates in the financial technology and data industry. Key market trends affecting the business include:

• Increasing automation, regulation, and demand for independent, secure, real-time information.
• Rising demand for independent, real-time information driven by regulation, market fragmentation and competition, increasing technology and data demands, increasing automation, as well as passive investing and indexation.

Major competitors include other exchanges, electronic trading systems, third-party clearing houses, technology firms, market data vendors, trading facilities, investment banks, voice brokers, and mortgage and other technology providers. ICE's market position is strengthened by its deep, liquid markets, technology offerings, breadth of product offerings, new product development, customer relationships, efficient, secure settlement, clearing and other support services and its reputation.

• Market Risks: Global economic, political and financial market events or conditions may negatively impact ICE's business. ICE's business is subject to the impact of interest rate levels, inflation and financial markets volatility, which are caused by conditions that are beyond our control.
• Operational Risks: Systems failures in the derivatives and securities trading industry and mortgage technology industry have in the past, and could in the future, negatively impact ICE. Our systems and those of our third-party service providers are vulnerable to cyberattacks, hacking and other cybersecurity risks, which could result in wrongful manipulation, disclosure, destruction, or use of our information or that of a third party, or which could make our customers unable or reluctant to use our electronic platforms or other products and services.
• Financial Risks: ICE may fail to realize the anticipated cost savings, growth opportunities and synergies and other benefits anticipated from our recent acquisition of Black Knight and are subject to continuing obligations contained in the Consent Order, which could adversely affect our business and the value of our common stock. ICE currently has a substantial amount of outstanding indebtedness which could adversely affect our financial condition and operations and restrict our activities or our ability to satisfy our debt service obligations.
• Regulatory Risks: ICE's businesses and those of many of our clients have been and continue to be subject to extensive legislation and regulatory scrutiny, and we face the risk of changes to our regulatory environment and business in the future. Regulatory developments or court rulings may have an adverse impact on our ability to derive revenue from market data and connectivity fees.