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2016 Letter to Shareholders

Jeffrey C. Sprecher

Dear Fellow Shareholders:

As I reflect on what was a dynamic year, I'm pleased to report on Intercontinental Exchange's continued growth and excited about our positioning as we evolve to meet a rapidly changing global marketplace. Throughout 2016, we continued our sharp focus on solving our customers' challenges with innovative solutions, and in many cases well before these solutions were widely appreciated by the market. As a result, our focus on near-term execution and long-term growth delivered another record-breaking year in 2016. It was our 11th consecutive year of record revenue and adjusted earnings growth – an unmatched achievement in our sector.

2016 Consolidated Results

Our Trading and Clearing Business

The New Data Generation

Listing Leadership

Strategic Opportunities, Entrepreneurial Team

I want to close by thanking our customers for trusting us with their business. Our customers are leaders of their own industries, and they look to us to serve their needs each business day. As an entrepreneur, I learned never to take a customer or their unmet needs for granted. I also learned the importance of a strong culture, which continues to be a differentiator for our company – qualities like teamwork, integrity and problem-solving – these allow us to meet challenges of leading change. We continue asking questions like 'Why not?', 'Where can we improve?' and 'What's next?' – and listening to those answers to ensure we chart the course for our customers. And in serving our customers well, we believe we are best serving you, our shareholders. Thank you for your continued trust and dialog, and we look forward to continuing to deliver results for you.

My best,

Jeffrey C. Sprecher's signature

Jeffrey C. Sprecher
Chairman & CEO Intercontinental Exchange
Chairman, New York Stock Exchange
March 27, 2017