1) Industry ADV based on CLARUS for EM IRS and EM CDS, EMTA for EM Credit and CFETS for China Bonds. Based on 2022 data. 2) EM IRS share reflect TW emerging market interest rates swaps ("EM IRS") volumes across the institutional client sector, divided by Clarus cleared EM IRS volumes. EM Cash & CDS share reflect TW emerging markets cash credit and CDS volumes across the institutional and wholesale client sectors, divided by the sum of EMTA volumes and Clarus cleared EM CDS volumes. China Bonds share reflect ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-38860 TRADEWEB MARKETS INC. (Exact name of registrant as specified in its charter) ___________________________________________ (State of other jurisdictio ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-38860 TRADEWEB MARKETS INC. (Exact name of registrant as specified in its charter) ___________________________________ ...

Financial Data and Key Metrics Changes - The company reported GAAP earnings per diluted share of $0.42, with adjusted net income per diluted share of $0.49 after excluding certain non-cash expenses and assuming an effective tax rate of 22% [4][31] - Fourth quarter revenues reached $293 million, up 5.8% year-over-year, and 9.3% on a constant currency basis, driven by strong performance across various asset classes [8][32] - Adjusted EBITDA margin increased by approximately 221 basis points to 52.8% for the fourth quarter, reflecting improved profitability [33] Business Line Data and Key Metrics Changes - Rates revenues decreased by 1%, while credit and equities contributed significantly to revenue growth, accounting for 61% and 29% of the fourth quarter revenue growth respectively [8][9] - Credit business saw a 16% year-over-year revenue growth on a constant currency basis, with strong performance in U.S. corporate credit and munis [19][25] - Equities achieved its highest fourth quarter revenues ever, driven by institutional ETFs and diversification efforts [9][16] Market Data and Key Metrics Changes - The international business grew revenues at an average of 19% since 2016, with 2022 growth of 15% on a constant currency basis, primarily driven by the European market [12] - U.S. Treasuries recorded a 10% year-over-year revenue increase, supported by a 20% market share [14] - The global swaps business achieved a record 2022 with constant currency revenue growth of 18% year-over-year, despite a 5% decline in fourth quarter revenues [27][30] Company Strategy and Development Direction - The company is focused on continuous innovation and enhancing client experience across the trading lifecycle, with a three-year plan emphasizing product and geographic expansion [7][18] - Investments in technology have exceeded $500 million over the past seven years, with a commitment to further innovation in 2023 [13][40] - The company aims to capitalize on the shift from phone and chat-based execution to electronic mediums, positioning itself as a leader in the market [6][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the strong performance in fixed income markets and the potential for growth in emerging markets [7][12] - The company anticipates continued revenue growth driven by strategic investments in credit and rates, despite a challenging macroeconomic environment [40][45] - Management noted that January 2023 volumes showed a return to normal market conditions, with revenue growth outpacing volume growth [54] Other Important Information - The company ended the fourth quarter with $1.3 billion in cash and cash equivalents, and free cash flow reached approximately $573 million for the trailing 12 months [38] - A quarterly dividend of $0.09 per share was declared, representing a 12.5% year-over-year increase [39] - The company authorized a new $300 million share buyback program after completing a previous $150 million program [39] Q&A Session Questions and Answers Question: Transition of Leadership and Focus Areas - The new CEO emphasized setting the strategic direction and enhancing client feedback, with Tom Pluta focusing on the U.S. business and regulatory matters [48][49] Question: January Performance and Revenue Outlook - The CEO noted that January 2023 saw revenue growth close to double digits, with rates and credit accounting for 75% of that growth, indicating a strong start to the year [54] Question: Portfolio Trading Dynamics - The President highlighted the growing importance of portfolio trading in credit markets, noting its benefits in execution certainty and risk management, with expectations for further market share growth [57][59]

*Tradeweb 4Q22 EARNINGS CONFERENCE CALL FEBRUARY 2, 2023 © 2023 Tradeweb Markets LLC. All rights reserved. · · · ● ... ● · · ·· . · · · . . . .. . . . . . . . . . . . ·· ·· ...... . ... . ·· ...... . . . . ... .. . . . . . . . . . . . . . . . . . . . · · · · . . . . ·· · · · · . . the same of the same . . . . . . ·· · · . Disclaimers .. The information in this presentation is current only as of its date and may have changed. We undertake no obligation to update this information in light of new information, ...

Financial Data and Key Metrics Changes - The company reported GAAP earnings per diluted share of $0.33, with adjusted net income per diluted share of $0.45, reflecting a 15% year-on-year growth [6][58] - Year-to-date adjusted EBITDA margin increased by 83 basis points to 51.0% [13][57] - Revenues for the first three quarters of 2022 reached $896 million, up 55% from the first three quarters of 2019, averaging 16% growth per year [9] Business Line Data and Key Metrics Changes - Record third quarter revenues of $287 million were up 8.2% year-on-year, with a 13.1% growth on a constant currency basis [12] - Rates and credit accounted for 40% and 27% of revenue growth, respectively, while equities contributed 22% [14] - U.S. Treasury revenues increased nearly 10% year-on-year, driven by retail business growth [15] Market Data and Key Metrics Changes - The company’s market share in U.S. Treasuries fell slightly to 19.6%, but user engagement increased by 10% year-on-year [18][19] - Average daily volume for the third quarter reached nearly $1.1 trillion, up 14% year-on-year [52] - Non-U.S. credit revenue grew 17% year-on-year, with the muni business achieving record revenues [39] Company Strategy and Development Direction - The company aims to deepen its competitive advantage through talent development and expanding its asset class and geographic footprint [26][90] - Focus on enhancing electronic solutions and cross-asset trading to capitalize on market opportunities [22][41] - Plans to consolidate broker-dealers and migrate data centers to drive future revenue growth [21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the durability of growth, particularly in credit and swaps, while acknowledging FX headwinds [26][81] - The company is well-positioned to benefit from increasing interest in fixed income products as yields rise [61] - Management emphasized the importance of innovation and client collaboration in driving market changes [25][80] Other Important Information - The company ended the quarter with $1.1 billion in cash and cash equivalents, with free cash flow reaching $555 million [74] - Capital expenditures for the quarter were $12.3 million, with expectations for full-year CapEx between $62 million and $68 million [75] - The Board declared a quarterly dividend of $0.08 per share [75] Q&A Session Summary Question: Transition focus for new CEO - The new CEO emphasized talent development and maintaining the company's focus on client collaboration as key priorities moving forward [90][92] Question: All-to-all solutions in U.S. Treasuries - The CEO acknowledged the potential for all-to-all trading in U.S. Treasuries and the importance of engaging with influential market participants like PIMCO [100][102] Question: Drivers of portfolio trading decline - Management noted that while FX impacts comparisons, portfolio trading remains a critical protocol, especially in investment-grade markets [112][115] Question: SEC's proposal for central clearing of treasuries - The company views central clearing as beneficial, potentially reducing capital requirements and enhancing market electronification [120][121] Question: Growth of portfolio trading in volatile markets - Management believes portfolio trading will continue to grow, particularly in investment-grade markets, despite volatility [127]

* Tradeweb 3Q22 EARNINGS CONFERENCE CALL OCTOBER 27, 2022 © 2022 Tradeweb Markets LLC. All rights reserved. · · · ● ... ● · · ·· . · · · . . . . . . . . .. . . . . . . . . . . . ·· ·· ...... . ... . ·· ...... . . . . . . . . . . . . ... ........ . . . . . . . . . . . . . . . . · · · · . . . . . ·· · · · · . . the same of the same . . . . . . ·· · · . Disclaimers The information in this presentation is current only as of its date and may have changed. We undertake no obligation to update this information in ...

Tradeweb 2Q22 EARNINGS CONFERENCE CALL AUGUST 3, 2022 © 2022 Tradeweb Markets LLC. All rights reserved. · · · ● ... ● · · ·· . . . . . . . . . . . . .. . . . . . . . . . . . . ·· ·· ...... . ... . ·· ...... . . . . ... ....... . . . . . . . . . . . . . . · · · · . . . . . . · · · · · · . . . the same of the same . . . . . . ·· · · . Disclaimers The information in this presentation is current only as of its date and may have changed. We undertake no obligation to update this information in light of new infor ...

Tradeweb Markets, Inc. (NASDAQ:TW) Q2 2022 Earnings Conference Call August 3, 2022 9:30 AM ET Company Participants Ashley Serrao - Head, Treasury, FP&A & IR Lee Olesky - Co-Founder, Chairman & CEO William Hult - President & Director Sara Furber - CFO Conference Call Participants Alexander Blostein - Goldman Sachs Group Richard Repetto - Piper Sandler & Co. Craig Siegenthaler - Bank of America Merrill Lynch Michael Cyprys - Morgan Stanley Alexander Kramm - UBS Kyle Voigt - KBW Daniel Fannon - Jefferies Kenne ...

Table of Contents (State of other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-38860 TRADEWEB MARKETS INC. (Exact name of registrant a ...