Appendix G: Governance Data The table below summarizes certain information about our Board composition as at December 31, 2025. For additional information on our current Board members, please refer to our Board of Directors page on our Investor Relations website and our 2026 Management Information Circular. Board Composition Metrics As at December 31, 2025 Board Type One-tier Independent Chairperson Luc Bertrand Executive Directors John McKenzie (1 of 12) Other Non-Executive Directors (I = Independent)33 Luc Bertrand (I), Nicolas Darveau-Garneau (I), Stephanie Cuskley (I), Martine Irman (I), Moe Kermani (I), William Linton (I), Monique Mercier (I), Michael Ptasznik (I), Peter Rockandel (I), Claude Tessier (I), Ava Yaskiel (I) (11 of 12) Independent Director Target 50% Independent Directors 92% (11 of 12) Board Diversity Policy Please refer to our Board Diversity Policy. Target % of gender diversity 30% Women directors 33.3% (Stephanie Cuskley, Martine Irman, Monique Mercier, Ava Yaskiel) Target % of other diversity characteristics34 1 director % of directors with other diversity characteristics 1 of 12 (8%) 35 Average Director Tenure 5 years Average Director Age 62 years Independent, non-executive directors with 4 or less mandates36 Luc Bertrand, Nicolas Darveau-Garneau, Stephanie Cuskley, Martine Irman, Moe Kermani, William Linton, Monique Mercier, Michael Ptasznik, Peter Rockandel, Claude Tessier, Ava Yaskiel REPORT CONTENTS ABOUT THIS REPORT SUSTAINABILITY STRATEGY SUSTAINABILITY GOVERNANCE PROSPERITY PLANET PEOPLE APPENDICES 48 | TMX GROUP 2025 ANNUAL SUSTAINABILITY REPORT 33 An independent director must be independent under: (i) Section 1.4 of National Instrument 52-110 鈥� Audit Committees; (ii) National Policy 58-201 鈥� Corporate Governance Guidelines; and (iii) our recognition orders, and is not independent if they have one of the following relationships with a 91猎奇, 91猎奇V, MX or Alpha market participant: (i) is a partner, officer, director or employee of the market participant, or an associate of a partner, officer, director or employee of the market participant; or (ii) is a partner, officer, director or employee of a company affiliated with the market participant, and is actively or significantly engaged in the day-to-day operations of the market participant. Please refer to page 42 of our 2026 Management Information Circular for our Board Independence Statement and a description of how we determine whether a director is independent. 34 Other diversity requirements include age, geographic background as well as Indigenous Peoples (defined as First Nations, Inuk and Métis) and other underrepresented groups, including racialized persons, people living with disabilities and members of the 2SLGBTQIA+ community. 35 As determined through self-reporting. As reported on page 44 of our 2026 Management Information Circular, our 2025 directors include one director who identified themselves as being ethnically diverse, representing 8% of the Board. 36 Mandates refers to other directorships or executive positions with other publicly listed companies. While we do not have a formal limit on the number of other public company boards a director can sit on, the governance and regulatory oversight committee looks at whether directors are overcommitted by keeping track of how many other public company boards our directors sit on.
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