SINGAPORE EXCHANGE-UNSP ADR Business Summary

Singapore Exchange (SGX Group) operates as Asia’s premier multi-asset market infrastructure, providing a comprehensive suite of listing, trading, clearing, and settlement services across equities, fixed income, currencies, and commodities. The company generates revenue through a diversified mix of transaction-based fees, listing fees, and recurring income from its Data, Connectivity and Indices (DCI) segment. As of July 2026, SGX Group has reinforced its position as a global gateway for offshore Asian risk management, driven by its dominant FTSE China A50 and Nifty 50 derivatives franchises and a robust S-REIT ecosystem. The exchange is highly internationalized, with approximately 40% of listed companies and 80% of listed bonds originating outside Singapore. It competes directly with regional and global exchange giants such as Hong Kong Exchanges and Clearing (HKEX), CME Group, and the London Stock Exchange Group (LSEG), maintaining a unique competitive moat as a neutral, AAA-rated financial hub with an 18-year high in securities daily average value (SDAV) recorded in the 2026 financial year. SGX Group was established in 1999 through the merger of the Stock Exchange of Singapore (SES) and the Singapore International Monetary Exchange (SIMEX). The current leadership team is headed by Chief Executive Officer Loh Boon Chye, a veteran financier who joined in 2015 following senior roles at Bank of America-Merrill Lynch and Deutsche Bank. As of July 2026, the Board is chaired by Koh Boon Hwee, a distinguished corporate leader with a pedigree including chairmanships at Singtel and DBS Bank. Following a strategic technology leadership transition in mid-2026, Nick Sawyer serves as the Chief Information Officer, responsible for the group’s digital infrastructure and platform resilience, while Lester Ngoh serves as the Head of Exchange Operations. The company maintains institutional stability with Temasek Holdings as a major long-term shareholder through SEL Holdings Pte Ltd, ensuring alignment with Singapore's strategic economic objectives.