Q2 14 results presentation final

1. Second quarter 2014 financial results
August 13th 2014
The Science of Finance

2. 2
Forward-looking statements
This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this presentation that
address activities, events or developments that Markit Ltd. (“Markit” or the “Company”) expects, believes or anticipates will or may occur
in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this
presentation may include the expectations of management regarding plans, strategies, objectives and anticipated financial and
operating results of the Company. Markit’s estimates and forward-looking statements are mainly based on its current expectations and
estimates of future events and trends, which affect or may affect its businesses and operations. Although Markit believes that these
estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties
and are made in light of information currently available to Markit. When used in this presentation, the words “anticipate,” “believe,”
“intend,” “expect,” “plan,” “will” or other similar words are intended to identify forward-looking statements. Such statements are subject to
a number of assumptions, risks and uncertainties, many of which are beyond the control of Markit, which may cause actual results to
differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and
uncertainties is available in Markit’s filings with the United States Securities and Exchange Commission (“SEC”). Markit’s SEC filings
are available at www.sec.gov or on the investor relations section of its website, www.markit.com. Markit undertakes no obligation and
does not intend to update these forward-looking statements to reflect events or circumstances occurring after the date of this
presentation. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of
this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
Non-IFRS financial measures
This presentation also includes measures defined by the SEC as non-IFRS financial measures. Markit believes that these non-IFRS
measures can provide useful supplemental information to securities analysts, investors and other interested parties regarding financial
and business trends relating to its financial condition and results of operations when read in conjunction with the company’s reported
results. Definitions and reconciliations of these non-IFRS measures to most directly comparable IFRS financial measures are available
in the Appendix of this presentation and in Markit’s earnings release dated August 13, 2014.
Copyright ©2014, Markit Group Limited. All rights reserved and all intellectual property rights are retained by Markit.
Important notice

3. 3
Business overview
Lance Uggla, CEO
Second quarter and first half 2014 financial results
Jeff Gooch, CFO
Appendix
Agenda

4. Q2 and H1 2014 financial results
Jeff Gooch, CFO

5. 5
Solid second quarter performance
Q2 2014 financial results overview
─ Revenue increased 11.0% to a quarterly record of $264.6 million
─ Driven by topline growth in all three business segments:
─ Information +5.7%
─ Processing +1.7%
─ Solutions +35.7%
─ Constant currency revenue growth +7.1% (4.3% organic, 2.8% acquired)
─ Recurring revenue of 94.7%; recurring fixed revenue increased to 50.8% of total revenue
─ Renewal rate remained at circa 90.0%
─ Continued profitability and strong margins maintained
─ Adjusted EBITDA grew 7.7%; Adjusted EBITDA margin of 45.4%
─ Adjusted Earnings were $68.3 million and Adjusted EPS diluted were $0.37
Adjusted EBITDA is defined as profit for the period from continuing operations before income taxes, net finance costs, depreciation and amortisation on fixed assets and intangible assets (including
acquisition related intangible assets), acquisition related items, exceptional items, share-based compensation and net other gains or losses and excluding Adjusted EBITDA attributable to non-controlling
interests. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue, excluding revenue attributable to non-controlling interests. Adjusted Earnings is defined as profit for the period
from continuing operations before amortisation of acquired intangibles, acquisition related items, exceptional items, share-based compensation, net other gains or losses and unwind of discount, less the
tax effect of these adjustments and excluding Adjusted Earnings attributable to non-controlling interests. Adjusted EPS diluted is defined as Adjusted Earnings divided by the weighted average number of
shares issued and outstanding, diluted.

6. 6
Revenue growth – Q2 2013 versus Q2 2014
($ million)
Q2 2014 financial results
$238.3
$10.3
$6.8
$9.2 $264.6
$200
$210
$220
$230
$240
$250
$260
$270
Q2 2013 revenue Organic growth Acquired growth FX / Currency impact Q2 2014 revenue
+4.3%
+2.8%
+3.9%
+11.0%

7. 7
Summary financial results
($ million)
Q2 and H1 2014 financial results
Q2 2014 Q2 2013 YoY% H1 2014 H1 2013 YoY%
Revenue 264.6 238.3 11.0% 524.0 465.7 12.5%
Adjusted EBITDA (1) 120.0 111.4 7.7% 236.7 202.2 17.1%
Adjusted EBITDA margin (2) 45.4% 46.7% n/a 45.2% 45.8% n/a
Adjusted Earnings (3) 68.3 70.8 (3.5)% 141.2 118.3 19.4%
Adjusted EPS diluted (4) $0.37 $0.41 (9.8)% $0.78 $0.68 14.7%
1. Adjusted EBITDA is defined as profit for the period from continuing operations before income taxes, net finance costs, depreciation and amortisation on fixed assets and
intangible assets (including acquisition related intangible assets), acquisition related items, exceptional items, share-based compensation and net other gains or losses and
excluding Adjusted EBITDA attributable to non-controlling interests.
2. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue, excluding revenue attributable to non-controlling interests.
3. Adjusted Earnings is defined as profit for the period from continuing operations before amortisation of acquired intangibles, acquisition related items, exceptional items, share-
based compensation, net other gains or losses and unwind of discount, less the tax effect of these adjustments and excluding Adjusted Earnings attributable to non-controlling
interests.
4. Adjusted EPS diluted is defined as Adjusted Earnings divided by the weighted average number of shares issued and outstanding, diluted.

8. 8
Revenue mix (Q2 2014)
($ million)
Q2 and H1 2014 financial results
Q2 2014 Q2 2013 YoY% H1 2014 H1 2013 YoY%
Recurring fixed 50.8% 49.9% 0.9% 51.3% 50.2% 1.1%
Recurring
variable
43.9% 46.3% (2.4)% 43.6% 45.9% (2.3)%
Non-recurring 5.3% 3.8% 1.5% 5.1% 3.9% 1.2%
Key Q2 features:
─ Recurring fixed revenue % increased
yoy (+$15.7 million) due to new
business wins and moving customers
from variable to fixed contracts
─ Recurring variable revenue increased
yoy (+$5.6 million) due to strength in
the loans market and the acquisition
of Markit Corporate Actions, whilst
decreasing as % of total revenue
─ Non-recurring revenue increased yoy
(+$4.9 million) driven by new
business wins in Solutions
50.8%
43.9%
5.3%
Recurring fixed
Recurring variable
Non-recurring
$134.5
$116.0
$14.1

9. 9
Operating expenses
($ million)
Q2 and H1 2014 financial results
Q2 2014 Q2 2013 YoY% H1 2014 H1 2013 YoY%
Personnel costs (89.3) (77.6) 15.1% (178.4) (153.6) 16.1%
Non personnel costs (55.3) (49.3) 12.2% (108.9) (98.4) 10.7%
Total operating
expenses
(144.6) (126.9) 13.9% (287.3) (252.0) 14.0%
Key features:
─ Personnel costs increased due to
acquisitions (Markit Corporate
Actions and thinkFolio), new hires,
increase in cash compensation
and FX
─ Headcount growth was
predominantly in low cost locations
─ Non personnel costs increase
largely driven by acquisition of
Markit Corporate Actions and
thinkFolio
─ Technology costs closely controlled

10. 10
Exceptional items
($ million)
Q2 and H1 2014 financial results
Q2 2014 Q2 2013 H1 2014 H1 2013
Legal advisory costs (1.8) (1.1) (2.9) (2.2)
Profit on sale of available-for-sale
financial asset
- - - 4.2
IPO preparation and execution costs (8.4) - (12.1) -
Accelerated IFRS 2 charges (1.0) - (7.3) -
Recognition of liability for social
security costs on option exercise
(20.1) - (20.1) -
Total exceptional items (31.3) (1.1) (42.4) 2.0

11. 11
Net debt / leverage
($ million)
Q2 and H1 2014 financial results
June
30th 2014
December
31st 2013
Bank borrowings 324.1 268.0
Share buyback 258.9 306.6
Total borrowings 583.0 574.6
Cash and cash equivalents (97.5) (75.3)
Net debt 485.5 499.3
LTM Adjusted EBITDA(1) 455.8 421.3
Leverage
(Net debt/ LTM Adjusted EBITDA)
1.07x 1.19x
Key features:
─ H1 2014 increase in borrowings
driven by acquisition of thinkFolio in
Q1 2014, partially offset by pay
down of share buy back liability and
other debt repayments
─ Capital expenditure H1 2014
totalled $63.7 million, flat year on
year
1. LTM Adjusted EBITDA is defined as Adjusted EBITDA for the previous twelve month period to date reported

12. 12
Information
($ million)
Q2 and H1 2014 financial results
115.6 122.2
55.0 58.6
0
25
50
75
100
125
150
Q2 2013 Q2 2014
Revenue Adjusted EBITDA
+5.7%
Q2 2014 Q2 2013 YoY% H1 2014 H1 2013 YoY%
Revenues 122.2 115.6 5.7% 239.9 227.2 5.6%
Adjusted
EBITDA
58.6 55.0 6.5% 113.8 106.4 7.0%
Adjusted
EBITDA margin
48.0% 47.6% 0.4% 47.4% 46.8% 0.6%
Key Q2 highlights:
─ Revenue +5.7% yoy due to
favourable FX movements and
growth in Pricing and Reference
Data
─ Indices benefited from new
business wins
─ Valuation and Trading services
continues to experience competitive
pricing pressure
─ Customer retention and renewals
remain strong at circa 90.0%

13. 13
Processing
($ million)
Q2 and H1 2014 financial results
Key Q2 highlights:
─ Strong trading volumes maintained
in the processing business across
loans and derivatives
─ Revenue positively impacted by
changes in FX rates
─ Organic growth down due to high
loan trading volumes in prior period
70.9 72.1
39.0 38.9
0
25
50
75
100
Q2 2013 Q2 2014
Revenue Adjusted EBITDA
+1.7%
Q2 2014 Q2 2013 YoY% H1 2014 H1 2013 YoY%
Revenues 72.1 70.9 1.7% 144.2 136.1 6.0%
Adjusted
EBITDA
38.9 39.0 (0.3)% 78.2 73.7 6.1%
Adjusted
EBITDA margin
54.0% 55.0% (1.0)% 54.2% 54.2% 0.0%

14. 14
Solutions
($ million)
Q2 and H1 2014 financial results
51.8
70.3
17.4
22.5
0
25
50
75
Q2 2013 Q2 2014
Revenue Adjusted EBITDA
+35.7%
Q2 2014 Q2 2013 YoY% H1 2014 H1 2013 YoY%
Revenues 70.3 51.8 35.7% 139.9 102.4 36.6%
Adjusted
EBITDA
22.5 17.4 29.3% 44.7 33.6 33.0%
Adjusted
EBITDA margin
32.0% 33.6% (1.6)% 32.0% 32.8% (0.8)%
Key Q2 highlights:
─ Strong organic growth driven by
new business wins in Managed
Services and Enterprise Software,
with strong growth in EDM
─ Markit Corporate Actions and
thinkFolio acquisitions accretive
to revenue growth
─ Continued investment in new
products and services
─ Launched KYC service in partnership
with Genpact

15. 15
─ IPO completed on June 24th 2014; shares listed on Nasdaq
─ Solid Q2 and half year financial performance
─ Well positioned to deliver our longterm financial objectives
─ Headwinds from electronic trading yet to materialise leads to
cautious nearterm outlook in OTC derivative processing
─ Continue to invest in products and services to address the needs of
our customers
Summary

16. Appendix

17. 17
Definitions
Revenue growth
We measure revenue growth in terms of organic revenue growth, acquisition related revenue growth and foreign currency impact on revenue growth. We define these components as follows:
Organic – Revenue growth from continuing operations from factors other than acquisitions and foreign currency fluctuations. We derive organic revenue growth from the development of new products and
services, increased penetration of existing products and services to new and existing customers, price changes for our products and services and market driven factors such as increased trading volumes or
changes in customer assets under management.
Acquisition related – Revenue growth from acquired businesses through the end of the fiscal year following the fiscal year in which the acquisition was completed. This growth results from our strategy of
making targeted acquisitions that facilitate growth by complementing our existing products and services and addressing market opportunities.
Foreign currency – The impact on revenue growth resulting from the difference between current revenue at current exchange rates and current revenue at the corresponding prior period exchange rates.
Revenue by type
Revenue by type is how we classify the income recognised from the sale of our products and services into three groups as defined below:
Recurring fixed revenue – Revenue generated from contracts specifying a fixed fee for services delivered over the life of the contract. The fixed fee is typically paid annually, semiannually or quarterly in
advance. These contracts are typically subscription contracts where the revenue is recognised across the life of the contract. The initial term of these contracts can range from one to five years and usually
includes auto-renewal clauses.
Recurring variable revenue – Revenue derived from contracts that specify a fee for services which is typically not fixed. The variable fee is typically paid monthly in arrears. Recurring variable revenue is
based on, among other factors, the number of trades processed, assets under management or the number of positions we value. Many of these contracts do not have a maturity date while the remainder have
an initial term ranging from one to five years.
Non-recurring revenue – Revenue that relates to certain software license sales and the associated consulting revenue.
Other Non-IFRS Measures
Adjusted EBITDA is defined as profit for the period from continuing operations before income taxes, net finance costs, depreciation and amortisation on fixed assets and intangible assets (including acquisition
related intangible assets), acquisition related items, exceptional items, share-based compensation and net other gains or losses and excluding Adjusted EBITDA attributable to non-controlling interests.
Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue, excluding revenue attributable to non-controlling interests.
LTM Adjusted EBITDA is defined as Adjusted EBITDA for the previous twelve month period from date reported
Adjusted Earnings is defined as profit for the period from continuing operations before amortisation of acquired intangibles, acquisition related items, exceptional items, share-based compensation, net other
gains or losses and unwind of discount, less the tax effect of these adjustments and excluding Adjusted Earnings attributable to non-controlling interests.
Adjusted EPS diluted is defined as Adjusted Earnings divided by the weighted average number of shares issued and outstanding, diluted.
Q2 and H1 2014 financial results

18. 18
Reconciliation to Adjusted EBITDA
($ million)
Q2 and H1 2014 financial results
Q2 2014 Q2 2013 H1 2014 H1 2013 FY 2013
Profit for the period 29.4 53.4 69.2 111.7 147.0
Income tax expense 9.6 14.8 25.2 35.6 63.7
Finance costs – net 3.9 5.3 8.3 10.3 19.4
Depreciation and amortisation 23.5 20.7 46.8 40.5 86.0
Amortisation – acquisition related 14.1 11.9 28.3 24.4 50.1
Acquisition related items 2.2 0.1 5.0 0.1 (1.4)
Exceptional items 31.3 1.1 42.4 (2.0) 60.6
Share-based compensation 3.1 2.0 6.1 3.9 8.1
Other losses/ (gains) – net 2.9 2.1 5.4 (10.8) (0.7)
Adjusted EBITDA attributable to non-controlling
interests
- - - (11.5) (11.5)
Adjusted EBITDA 120.0 111.4 236.7 202.2 421.3

19. 19
Reconciliation to Adjusted Earnings
($ million)
Q2 and H1 2014 financial results
Q2 2014 Q2 2013 H1 2014 H1 2013
Profit for the period 29.4 53.4 69.2 111.7
Amortisation – acquisition related 14.1 11.9 28.3 24.4
Acquisition related items 2.2 0.1 5.0 0.1
Exceptional items 31.3 1.1 42.4 (2.0)
Share-based compensation 3.1 2.0 6.1 3.9
Other losses/ (gains) – net 2.9 2.1 5.4 (10.8)
Unwind of discount
(1)
2.4 3.3 4.9 6.8
Tax effect of above adjustments (17.1) (3.1) (20.1) (6.1)
Adjusted Earnings attributable to non-controlling interests - - - (9.7)
Adjusted Earnings 68.3 70.8 141.2 118.3
Weighted average number of shares used to compute
earnings per share, diluted
182,777,170 174,304,740 180,724,370 173,500,490
1. Unwind of discount represents the non-cash unwinding of discount, recorded through finance costs – net in the income statement, primarily in relation to our share buyback liability.

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