Cboe Global Markets To Present On Its Growth Strategy And Outlook At Investor Day Meeting Today

Cboe Global Markets, Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, will present its strategy and path to achieving new medium-term financial targets today at its 2021 Investor Day. The company believes that by expanding its global presence to the highest value markets, increasing access to its differentiated products and solutions and accelerating its growth with recurring non-transaction revenue, Cboe is positioned to drive long-term shareholder value. 

During the event, Ed Tilly, Chairman, President and Chief Executive Officer, and other members of Cboe's senior leadership team will present on the company's differentiated platform and diverse opportunity set. Executives will cover topics including Cboe's competitive advantages and investment strategy, which have positioned the company to become one of the world's largest global derivatives and securities networks.

"We plan to leverage our global scale, customer-led product and market innovation and superior technology across our ecosystem to drive revenue growth and create value," said Ed Tilly, Cboe Global Markets Chairman, President and Chief Executive Officer. "We have leading positions in many of our businesses, and we're investing in areas where we can gain share and enhance our value proposition. Our unique model allows us to move into attractive and expanding addressable markets across our businesses, and we couldn't be more excited about the opportunity set in front of us today." 

The company's financial targets, to be discussed in greater detail today, are designed for the medium-term, defined as 3 to 5 years. Those targets are as follows:

• Medium-term organic total net revenue growth of 5% to 7%¹ annually
• Medium-term organic Data and Access Solutions net revenue growth of 7% to 10%¹ annually
• Cboe is introducing a Return on Invested Capital (ROIC) target of greater than or equal to 10%¹ over a 3 to 5-year time frame

"The strong track record of free cash flow generated by our businesses has allowed for continued strategic investment to expand our global reach and product offerings," said Brian Schell, Cboe Global Markets Executive Vice President, Chief Financial Officer and Treasurer. "We have a disciplined investment approach that has delivered long-term profitable growth, underpinned by our targeted return on invested capital threshold of equal to or greater than 10%.  We believe that our continued investment in the business, both organic and inorganic, will allow us to effectively deliver on our key strategic growth initiatives while enhancing shareholder value."

The investor day will begin at 8:30 a.m. CT. Attendance in person is by invitation only. Registration for the live webcast and slide presentation can be found here and on Cboe's Investor Relations website at ir.cboe.com. A copy of the slide presentation will be made available prior to the event and an audio replay of the presentation will be available shortly after the event on the company's investor relations website at ir.cboe.com, under Events and Presentations.

¹Specific quantifications of the amounts that would be required to reconcile the company's organic growth guidance and return on invested capital (ROIC) target, are not available. The company believes that there is uncertainty and unpredictability with respect to certain of its GAAP measures, primarily related to acquisition-related revenues that would be required to reconcile to GAAP revenues less costs of revenues, which preclude the company from providing accurate guidance on certain forward-looking GAAP to non-GAAP reconciliations. The company believes that providing estimates of the amounts that would be required to reconcile the range of the company's organic growth and ROIC would imply a degree of precision that would be confusing or misleading to investors for the reasons identified above.