IG GROUP HOLDINGS PLC ANNUAL REPORT 31 December 2025

Accelerating
growth

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Introduction

IG Group is a global trading and investment platform on a mission to unlock the potential of every customer.

2025 Highlights

Our year in summary

2025 was a year of significant progress, with record financial results underpinned by disciplined execution of our strategy.

During the period, we achieved meaningful progress across our strategic priorities.
We invested in our over-the-counter (OTC) derivatives offering, broadened our share trading and investments proposition and established the foundations for a scaled crypto business – securing the necessary licences, becoming the first UK-listed company to offer retail crypto trading domestically, and announcing the acquisition of Independent Reserve to accelerate growth in Asia Pacific.

Operationally, the decentralised structure launched in 2024 has materially accelerated the pace of new product development and rollout. Combined with significantly improved customer income retention, we have been able to increase marketing investment while sustaining strong operating margins.

We enter 2026 with confidence: a highperformance culture, an extensive product pipeline, strengthened marketing capabilities,and a balance sheet that supports long-term growth.

We have changed our financial year-end to 31 December to align with common practice. This report therefore covers the transitional seven-month period to 31 December 2025. To provide further insight, we also present information on a calendar 12-month basis.

Download Financial Highlights 2025
Non-financial performance
Active customers (organic)1
284.7K
7m Dec 2025 : 284,700

12m May 2025 : 273,300
First trades (organic)2
60.5K
7m Dec 2025 : 60.5k

12m May 2025 : 83.5k
Financial Perfromance
Net trading revenue
£590.9m
7m Dec 2025 : £590.9m
12m May 2025 : £942.8m
Total revenue3
£658.9m
7m Dec 2025 : £658.9m

12m May 2025 : £1,075.9m
EBITDA4
£301.9m
7m Dec 2025 : £301.9m
12m May 2025 : £536.4m
Net own funds generated
from operations
£243.8m
7m Dec 2025 : £243.8m
12m May 2025 : £427.8m
(FY24: xxp)
Basic earnings per share
84.6p
7m Dec 2025 : 84.6p
12m May 2025 : 106.3p
Adjusted earnings per share5
66.6p
7m Dec 2025 : 66.6p
12m May 2025 : 114.1p
Share buyback announced
£200.0m
7m Dec 2025 : £200.0m
12m May 2025 : £125.0m
Dividend per share6
28.12p
7m Dec 2025 : 28.12p
12m May 2025 : 47.2p
Financial Performance
Net trading revenue
£590.9m
7m Dec 2025 : £590.9m
12m May 2025 : £942.8m
Total revenue3
£658.9m
7m Dec 2025 : £658.9m

12m May 2025 : £1,075.9m
EBITDA4
£301.9m
7m Dec 2025 : £301.9m
12m May 2025 : £536.4m
Net own funds generated
from operations
£243.8m
7m Dec 2025 : £243.8m
12m May 2025 : £427.8m
(FY24: xxp)
Basic earnings per share
84.6p
7m Dec 2025 : 84.6p
12m May 2025 : 106.3p
Adjusted earnings per share5
66.6p
7m Dec 2025 : 66.6p
12m May 2025 : 114.1p
Share buyback announced
£200.0m
7m Dec 2025 : £200.0m
12m May 2025 : £125.0m
Dividend per share6
28.12p
7m Dec 2025 : 28.12p
12m May 2025 : 47.2p
See appendices for reconciliation to statutory measures.
1 Active customers are those who traded or held a position during a given month. Figures represent the average number of monthly active customers across each period. Organic figures exclude the impact of the Freetrade Limited acquisition, which completed on 1 April 2025.
2 New customers placing their first trade during the period, the Group’s primary measure of customer acquisition.
3 Total revenue is net trading revenue plus net interest income.
4 Earnings before interest, tax, depreciation and amortisation.
5 Adjusted EPS excludes amortisation of acquisition-related intangible assets, non-underlying items that are material in size and/or unusual or infrequent in nature, and their related tax effects. This non-IFRS measure is intended to complement, not replace, statutory earnings per share. A reconciliation to statutory performance is provided in Appendix 2.
6 The proposed final dividend per share for the transitional seven-month financial year ended 31 December 2025 is equivalent to seven-twelfths of the total dividend per share that the Group anticipated proposing for the 12 months ended 31 May 2026.

See appendices for reconciliation to statutory measures.
1 Active customers are those who traded or held a position during a given month. Figures represent the average number of monthly active customers across each period. Organic figures exclude the impact of the Freetrade Limited acquisition, which completed on 1 April 2025.
2 New customers placing their first trade during the period, the Group’s primary measure of customer acquisition.
3 Total revenue is net trading revenue plus net interest income.
4 Earnings before interest, tax, depreciation and amortisation.
5 Adjusted EPS excludes amortisation of acquisition-related intangible assets, non-underlying items that are material in size and/or unusual or infrequent in nature, and their related tax effects. This non-IFRS measure is intended to complement, not replace, statutory earnings per share. A reconciliation to statutory performance is provided in Appendix 2.
6 The proposed final dividend per share for the transitional seven-month financial year ended 31 December 2025 is equivalent to seven-twelfths of the total dividend per share that the Group anticipated proposing for the 12 months ended 31 May 2026.

A year of strategic progress and strong performance

This seven-month period was one of significant strategic progress, with momentum accelerating across the business and good financial performance.

Download Chair's Statement

In 2025, we continued to deliver strong growth across every area of our business.

Mike McTighe, Chair

Accelerating growth through strategic execution

Our focus on product enhancement, a high-performance culture, and greater efficiency is now delivering materially stronger new customer acquisition.

Download Chief Executive Officer's Statement

We made significant progress in 2025, with strategic initiatives translating into strong revenue growth and accelerating customer acquisition.

Breon Corcoran, Chief Executive Officer

Sustaining strong margins while investing in growth

2025 marked a step change in IG’s financial performance, with record revenue, materially stronger customer acquisition and continued disciplined cost management.

Strong results and clear strategic momentum give me confidence in IG’s ability to deliver a step change in growth and scale.

Clifford Abrahams, Chief Financial Officer

Laying the foundations for stronger growth

We delivered strong results in FY25 reflecting favourable market conditions and good strategic progress.

Download Chair's Statement

We have made good progress implementing our growth strategy in FY25.”

Mike McTighe, Chairman

Working hard to unlock our potential

I am pleased to say we made good initial progress delivering on these objectives in FY25, particularly in the second half.

Download Chief Executive Officer's Statement

We have taken initial steps to realise our potential by laying the foundations for stronger growth."

Breon Corcoran, Chief Executive Officer

Achieving sustainable growth

Git omnisitas mi, ipienia ad mos aut faccum lit officaborese quosti intis magnit in repe cus aut quid moluptu remolore ipsae cum vel ium vent eiciam quamusdande nonse

We have taken initial steps to realise our potential by laying the foundations for stronger growth.”

Clifford Abrahams, Chief Financial Officer
Sustainability

Achieving sustainable growth

Our products help people access global financial markets, a role which is increasingly important as individuals take greater responsibility for managing their financial futures.

Download Sustainability Report

How we are approaching sustainability

People

Building an inclusive, high-performance culture that supports
our colleagues and positively impacts our local communities.

Planet

Managing and reducing our environmental impact and adapting for climate-related risks and opportunities.

Product

Offering responsible, accessible products aligned with our purpose to help customers achieve their financial goals.

Leadership and Governance

The foundations of our business and sustainability strategy.

Our sustainability targets

Gender Diversity

35%

by 2026

Ethnic Diveristy

20%

by 2027

Emissions per Employee

Continuous

Improvement

Community Impact

1,000,000

Beneficiaries impacted

Employee Engagement Score

+29 eNPS

Financial services benchmark

business model

A sustainable business model well positioned in large and fast-growing markets

Download Business Model

People and culture

Our high-performance culture is the critical underpinning foundation. Our people live five core behaviours: lead and inspire, think big, champion the client, deliver at pace, and raise the bar. These shape how we develop and manage performance across the organisation.

Brand and reputation

Our reputation rests on trust and high-quality service.

  • Execution quality – we deliver exceptional liquidity and low-latency execution across over 21,000 instruments, supported by proprietary research tools and content.
  • Customer focus – we support customers through their preferred channels with responsive, expert service. Strategic marketing investment is raising awareness of our offerings and accelerating customer acquisition.
  • Risk discipline – rigorous risk management has protected our customers and our business through every market cycle since IG was foundedin 1974, maintaining trust when it matters most.

Financial capacity

We have a track record of highly profitable growth stretching back over 50 years, underpinned by consistently strong cash generation. This enables us to invest in organic growth, pursue accretive acquisitions and return capital to shareholders through dividends and share buybacks.

Technology

Our technology underpins everything we do. Our platforms are reliable, high quality and set us apart from competitors. We invest continuously to maintain and extend our advantage across three areas:

  • Resilience – customers expect uninterrupted access to their accounts and seamless trading. We invest in infrastructure to handle peak demand and strengthen defences against external threats.
  • Product velocity – we launch products at pace. In 2025, this included 24/5 trading, pre-IPO markets, zero-commission stock and investment propositions across multiple markets, and a comprehensive mutual fund range in the UK. We also introduced stablecoin funding, enhanced our professional customer offering and launched a white-labelled B2B proposition, strengthening our institutional capabilities.
  • Customer experience – we design our platforms around customer needs, combining intuitive interfaces with powerful analytical tools and educational content. Enhanced product offerings, content and more effective marketing drove strong double-digit percentage organic growth in first trades in the 12 months ended 31 December 2025.

OTC derivatives

IG pioneered the retail OTC derivatives trading category and remains the largest global provider. Our platform offers access to over 21,000 instruments worldwide. Exceptional liquidity, low-latency execution, a broad product range, differentiated content and powerful analytical tools set us apart.

Futures and options

Our US futures and options business is the fastestgrowingin the Group. We are focused on simplifyingour offerings to make them more accessible, whichis essential to capturing share in this large and rapidlyexpanding market.

Stock trading and investments

Through IG and Freetrade, we offer access to over[12,000] individual equities, ETFs, fixed incomeproducts and mutual funds worldwide. Additionalfeatures include fractional shares, UK Treasury bills,tax wrappers, securities lending and proxy voting.

An extensive product roadmap will further strengthenour offering, ensuring we provide everything selfdirectedtraders and investors need.

Crypto

In May 2025, we launched spot crypto trading in the UK, which is now offering 56 of the most traded coins, and expanded our US offering from four coins to 26 while enabling stablecoin funding. We secured cryptoasset licences in the UK and EU during the year, positioning us to broaden our spot crypto offerings in both regions. In September, we announced the acquisition of Independent Reserve to strengthen our capabilities in the APAC region.

Content and education

We support customers with comprehensivecontent and education. Through Trade Live withIG and tastylive, we broadcast over ten hours of liveprogramming daily, offering market updates andexpert analysis alongside podcasts, webinars andtutorials. We also provide signals, analytics, chartingtools and proprietary insights into the positioning ofour most successful traders.

Our awards
and recognition

Our progress and commitment to sustainability continues to be recognised around the globe with a number of awards and ratings. We are particularly proud to have maintained our status as a Living Wage employer in the UK, to have been recognised as a Top Employer in the UK and in South Africa. We are also a constituent of the FTSE4Good Index, improving our overall score in the process.