🟢 New in Current Filing Summary of Risk Factors 🔒

🟢 New in Current Filing Loss of our right to exclusively list and trade certain index options and futures could have a material adverse effect on our financial performance. 🔒

🟢 New in Current Filing General economic conditions and other factors beyond our control could significantly reduce demand for our products and services and harm our business. 🔒

🟢 New in Current Filing A limited number of customers comprise a material portion of our revenues, and the loss of key customers or a significant reduction in trading or clearing volumes by key customers could adversely affect our operating results. 🔒

🟢 New in Current Filing Our decision to wind down the Cboe Digital spot crypto market may negatively impact our digital asset business. 🔒

🟢 New in Current Filing Cboe Digital’s clearinghouse operations are exposed to risks, including credit, liquidity, market and other risks related to the potential defaults of clearing members and other counterparties. 🔒

🟢 New in Current Filing If our risk management and compliance methods are not effective, we may suffer adverse consequences, such as investigations and enforcement actions from regulators, our business, financial condition, and operating results may be adversely affected. 🔒

🟢 New in Current Filing If our goodwill, long-lived assets, investments in non-consolidated subsidiaries and intangible assets become impaired, the resulting charge to earnings may be significant. 🔒

🔴 No Match in Current Filing Our global operations are complex and subject us to increased business and economic risks that could adversely affect our financial results. 🔒

🔴 No Match in Current Filing A pandemic, such as the COVID-19 pandemic, and its effects may have significant impacts on economies around the world. Impacts of a pandemic could also have a material adverse effect on our business, financial condition, operating results and cash flows. 🔒

🔴 No Match in Current Filing We are subject to litigation risks and other liabilities. 🔒

🔴 No Match in Current Filing Certain provisions in our organizational documents and governing law could prevent or delay a change of control. 🔒

🔴 No Match in Current Filing We may not realize the expected benefits of our acquisition of Cboe Digital and the acquisition introduces additional risks to our business due to its evolving business model. 🔒

🔴 No Match in Current Filing The characteristics of digital assets and digital asset platforms have been, and may in the future continue to be, exploited to facilitate illegal activity such as fraud, money laundering, tax evasion, ransomware scams and other types of cybercrime, as well as other technical issues, which could adversely affect the Cboe Digital business. Additionally, illegal activity conducted by other digital asset platforms in the digital asset space may erode trust in the digital asset industry which could have a broad-based negative reputational effect on the Cboe Digital business. 🔒

🔴 No Match in Current Filing Digital assets, digital asset trading platforms and blockchains are currently subject to many different, and potentially overlapping, regulatory regimes, and may in the future be subject to different regulatory regimes than those that are currently in effect. The current and future operation of Cboe Digital may increase our regulatory costs and risks, and there can be no assurance that our employees or agents will not violate applicable laws and regulations. 🔒

🔴 No Match in Current Filing Digital asset custodial solutions and related technology, including our systems and custodial arrangements, are subject to risks related to a loss of funds due to theft of digital assets, employee or vendor sabotage, security and cybersecurity risks, system failures and other operational issues which could cause damage to our reputation and brand. There is also legal uncertainty regarding digital asset custodian arrangements. 🔒

🔴 No Match in Current Filing Digital assets are subject to volatile price fluctuations which can impact the Cboe Digital business. 🔒

🔴 No Match in Current Filing Cboe Digital’s clearinghouse operations are exposed to risks, including credit, liquidity, market and other risks related to the potential defaults of clearing members and other counterparties. 🔒

🔴 No Match in Current Filing Approximate Size 🔒

🔴 No Match in Current Filing Common Stock 🔒

🔴 No Match in Current Filing Share Repurchase Program 🔒

🔴 No Match in Current Filing (in millions) 🔒

🔴 No Match in Current Filing Purchase of common stock from employees 🔒

🔴 No Match in Current Filing Average price paid 🔒

🔴 No Match in Current Filing Stockholder Return Performance Graph 🔒

🔴 No Match in Current Filing COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN* 🔒

🔴 No Match in Current Filing INTRODUCTION 🔒

🔴 No Match in Current Filing EXECUTIVE SUMMARY 🔒

🔴 No Match in Current Filing Business Segments 🔒

🔴 No Match in Current Filing Executive Transitions 🔒

🔴 No Match in Current Filing General Factors Affecting Results of Operations 🔒

🔴 No Match in Current Filing Cash and Spot Markets 🔒

🔴 No Match in Current Filing Data and Access Solutions 🔒

🔴 No Match in Current Filing Derivatives Markets 🔒

🔴 No Match in Current Filing Liquidity Payments 🔒

🔴 No Match in Current Filing Routing and Clearing 🔒

🔴 No Match in Current Filing Section 31 Fees 🔒

🔴 No Match in Current Filing Royalty Fees and Other Cost of Revenues 🔒

🔴 No Match in Current Filing Compensation and Benefits 🔒

🔴 No Match in Current Filing Depreciation and Amortization 🔒

🔴 No Match in Current Filing Technology Support Services 🔒

🔴 No Match in Current Filing Professional Fees and Outside Services 🔒

🔴 No Match in Current Filing Travel and Promotional Expenses 🔒

🔴 No Match in Current Filing Facilities Costs 🔒

🔴 No Match in Current Filing Acquisition-Related Costs 🔒

🔴 No Match in Current Filing Goodwill Impairment 🔒

🔴 No Match in Current Filing Other Expenses 🔒

🔴 No Match in Current Filing Non-Operating (Expenses) Income 🔒

🔴 No Match in Current Filing RESULTS OF OPERATIONS 🔒

🔴 No Match in Current Filing Comparison of Years Ended December 31, 2023 and 2022 🔒

🔴 No Match in Current Filing December 31, 🔒

🔴 No Match in Current Filing (in millions) 🔒

🔴 No Match in Current Filing Europe and Asia Pacific 🔒

🔴 No Match in Current Filing Year Ended December 31, 🔒

🔴 No Match in Current Filing December 31, 🔒

🔴 No Match in Current Filing (in millions, except percentages, trading days, and as noted below) 🔒

🔴 No Match in Current Filing U.S. Equities - Exchange: 🔒

🔴 No Match in Current Filing U.S. Equities - Off-Exchange: 🔒

🔴 No Match in Current Filing Canadian Equities: 🔒

🔴 No Match in Current Filing European Equities: 🔒

🔴 No Match in Current Filing Cboe Clear Europe: 🔒

🔴 No Match in Current Filing Australian Equities: 🔒

🔴 No Match in Current Filing Japanese Equities: 🔒

🔴 No Match in Current Filing December 31, 🔒

🔴 No Match in Current Filing Cost of Revenues 🔒

🔴 No Match in Current Filing Year Ended December 31, 🔒

🔴 No Match in Current Filing DerivativesMarkets 🔒

🔴 No Match in Current Filing Year Ended December 31, 🔒

🔴 No Match in Current Filing DerivativesMarkets 🔒

🔴 No Match in Current Filing December 31, 🔒

🔴 No Match in Current Filing Revenues Less Cost of Revenues 🔒

🔴 No Match in Current Filing Revenues Less 🔒

🔴 No Match in Current Filing December 31, 🔒

🔴 No Match in Current Filing Operating Expenses 🔒

🔴 No Match in Current Filing December 31, 🔒

🔴 No Match in Current Filing Operating Income 🔒

🔴 No Match in Current Filing Interest Expense 🔒

🔴 No Match in Current Filing Interest Income 🔒

🔴 No Match in Current Filing Earnings in Investments 🔒

🔴 No Match in Current Filing Other Income (Expense), Net 🔒

🔴 No Match in Current Filing Income Before Income Tax Provision 🔒

🔴 No Match in Current Filing Income Tax Provision 🔒

🔴 No Match in Current Filing Year Ended December 31, 🔒

🔴 No Match in Current Filing Segment Operating Results 🔒

🔴 No Match in Current Filing Percentage of 🔒

🔴 No Match in Current Filing December 31, 🔒

🔴 No Match in Current Filing North American Equities 🔒

🔴 No Match in Current Filing December 31, 🔒

🔴 No Match in Current Filing Europe and Asia Pacific 🔒

🔴 No Match in Current Filing December 31, 🔒

🔴 No Match in Current Filing LIQUIDITY AND CAPITAL RESOURCES 🔒

🔴 No Match in Current Filing December 31, 🔒

🔴 No Match in Current Filing As of December 31, 🔒

🔴 No Match in Current Filing Net Cash Flows Provided by Operating Activities 🔒

🔴 No Match in Current Filing Net Cash Flows Used in Investing Activities 🔒

🔴 No Match in Current Filing Net Cash Flows (Used in) Provided by Financing Activities 🔒

🔴 No Match in Current Filing Financial Assets 🔒

🔴 No Match in Current Filing As of December 31, 🔒

🔴 No Match in Current Filing Share Repurchase Program 🔒

🔴 No Match in Current Filing Lease and Obligations 🔒

🔴 No Match in Current Filing Payments Due by Period 🔒

🔴 No Match in Current Filing Contractual Obligations 🔒

🔴 No Match in Current Filing Commercial Commitments and Contractual Obligations 🔒

🟡 Modified A significant portion of our operating revenues is generated by our transaction and clearing-based businesses. If the amount of trading volume on our markets or clearing volume decreases, or the product mix shifts to lower revenue products, our revenues from transaction and clearing fees will most likely decrease. 🔒

🟡 Modified Our ability to implement or amend rules could be limited or delayed by required regulatory review processes, which could negatively affect our ability to implement needed changes. 🔒

🟡 Modified Financial or other problems experienced by third parties could have an adverse effect on our business. 🔒

🟡 Modified Legislative or regulatory changes affecting our markets could have a material adverse effect on our business, financial condition, and operating results. 🔒

🟡 Modified Computer and communications systems failures and capacity constraints could harm our reputation and our business. 🔒

🟡 Modified Changes in the tax laws and regulations affecting us, our offerings and our market participants could have a material adverse effect on our business. 🔒

🟡 Modified Our business may be adversely affected by price competition. 🔒

🟡 Modified We depend on third-party service providers for certain services that are important to our business. An interruption, significant increase in fees or cessation or impairment of such service by any third party could have a material adverse effect on our business, financial condition, and operating results. 🔒

🟡 Modified If we fail to attract or retain highly skilled management and other employees our business may be harmed. 🔒

🟡 Modified The technology upon which we rely, including that of our service providers, may be susceptible to security vulnerabilities or breaches that could harm our business and our role in the global marketplace puts us at heightened risk relative to other public companies. 🔒

🟡 Modified Certain provisions in our organizational documents and governing law could prevent or delay a change of control. 🔒

🟡 Modified If an index provider from which we have a license or a service provider with respect to proprietary products fails to maintain the quality and integrity of their indices or fails to perform under our agreements with them, if we fail to maintain the quality and integrity of our proprietary indices or indices and other values that we calculate for customers, or if customer preferences change, the revenues that are generated from the trading of proprietary products or the calculation and dissemination of index values may suffer. 🔒

🟡 Modified Managing our business interests and our regulatory responsibilities may adversely affect our business. 🔒

🟡 Modified Damage to our reputation could have a material adverse effect on our business, financial condition, and operating results. 🔒

🟡 Modified Our global operations are complex and subject us to increased business and economic risks that could adversely affect our financial results. 🔒

🟡 Modified Revenues from our market data fees and access and capacity fees may be reduced due to declines in our market share, trading volumes or regulatory changes. 🔒

🟡 Modified We selectively explore acquisition opportunities and strategic alliances relating to other businesses, products or technologies. We may not be successful in integrating other businesses, products or technologies with our business. Any such transaction also may not produce the results we anticipate, which could materially adversely affect our business, financial condition, and operating results. 🔒

🟡 Modified We are subject to litigation risks and other liabilities. 🔒

🟡 Modified Intense competition could materially adversely affect our market share and financial performance. 🔒

🟡 Modified Our use of open source software code may subject our software to general release or require us to re-engineer our software, which could harm our business. 🔒