Ms. Catherine Kee reports

TMX GROUP ANNOUNCES AGREEMENT TO ACQUIRE CBOE AUSTRALIA AND CBOE CANADA

TMX Group Ltd. has entered an agreement to acquire Middlebury Holdings Pty. Ltd. (Cboe Australia) and Cboe Canada Holdings ULC (Cboe Canada) from Cboe Global Markets Inc. for $300-million (U.S.) ($409-million) in total consideration, a transaction that will bolster TMX's ability to serve clients across the capital markets ecosystem, expand the company's global presence and accelerate the company's growth strategy, while reducing cost and complexity for Canadian market participants.

"We are tremendously excited to announce the acquisition of Cboe Australia and Cboe Canada, a deal that represents a unique opportunity to strengthen our domestic marketplace for clients and the entire stakeholder ecosystem, while expanding the reach and impact of our presence in a region of the world we know well," said John McKenzie, chief executive officer, TMX Group. "We look forward to working with our industry partners to ensure a smooth transition, and to exploring innovative ways to serve the needs of issuers and investors across the Australian market, while continuing to seek out opportunities to accelerate our enterprise growth strategy."

Cboe Australia and Cboe Canada offer equities trading venues, listing venues and market data solutions. Cboe Australia is an innovative securities exchange offering companies strategic tailored support for public market listings, including ETFs (exchange-traded funds), as well as structured products and warrants, and providing a trading venue for brokers and investors with efficient and cost-effective access to local and global investment opportunities. Cboe Australia was also recently granted a licence for corporate listings. Cboe Canada includes MATCHNow, NEO-L, NEO-N and NEO-D, as well as ETF, CDR and corporate listings.

"The teams at Cboe Australia and Cboe Canada have delivered consistent performance and built resilient, high-quality markets," said Craig Donohue, chief executive officer, Cboe Global Markets. "These businesses are well positioned for their next chapter, and we will work closely with TMX, our local regulators and our clients to ensure a seamless transition."

Transaction highlights

• TMX's acquisition of Cboe Australia will bring together the world's leading mining and energy transition financing ecosystems, unlocking potential to innovate for a growing global client base.
• TMX's acquisition of Cboe Canada enhances the quality of client experience across domestic equities marketplaces:
  • Increasing efficiency of access to capital and liquidity for Canadian issuers;
  • Reducing direct and indirect costs for participants, while improving execution quality and resiliency.
• Transaction expected to be accretive to adjusted earnings per share within the first 12 months of closing, excluding synergies.
• Revenue growth expected to be in line with TMX's long-term financial objectives.
• Combined Cboe Canada and Cboe Australia businesses delivered revenue of approximately $87-million in 2025, and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of approximately $25-million.

Further transaction details

The purchase of each business is subject to regulatory approvals and customary closing conditions in Australia and Canada. The two components of this acquisition, Cboe Australia and Cboe Canada, are expected to close separately, each after required approvals have been obtained.

Canaccord Genuity and Macquarie Capital are acting as financial advisers to TMX Group. FGS Longview is acting as strategic communications adviser to TMX Group.

Teleconference/audio webcast

TMX Group will host a teleconference/audio webcast to discuss the transaction.

Time:  8 a.m. to 9 a.m. ET on Wednesday, April 22, 2026

The audio webcast of the conference call and investor presentation will also be available on TMX Group's website under investor relations.

Alternatively, participants may join the live call by dialling 1-833-752-4317 or 1-647-846-2266.

An audio replay of the conference call will be available at 1-855-669-9658 or 1-412-317-0088 (access code 6830744).

About TMX Group Ltd.

TMX Group operates global markets, and builds digital communities and analytic solutions that facilitate the funding, growth, and success of businesses, traders and investors. TMX Group's key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corp., TSX Trust, TMX Trayport, TMX Datalinx, TMX VettaFi and TMX Newsfile, which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across North America (Montreal, Calgary, Vancouver and New York), as well as in key international markets including London, Singapore and Vienna.

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