Flow Traders |

Flow Traders Investor Presentation 3Q 2016 results

Flow Traders |

Disclaimer

Investor Presentation 2

This presentation is prepared by Flow Traders N.V. and is for information purposes only and the material contained in this document is provided ‘as is’. It is not a recommendation to engage in investment activities and you must not rely on the

content of this document when making any investment decisions. The information in this document does not constitute legal, tax, or investment advice and is not to be regarded as investor marketing or marketing of any security or financial instrument, or as an

offer to buy or sell, or as a solicitation of any offer to buy or sell, securities or financial instruments.

The information and materials contained in this presentation are provided ‘as is’ and Flow Traders N.V. or any of its affiliates (“Flow Traders”) do not warrant the accuracy, adequacy or completeness of the information and materials and expressly disclaim liability for any errors or omissions. This presentation is not intended to be, and shall not constitute in any way a binding or legal agreement, or impose any legal obligation on Flow Traders. All intellectual property rights, including trademarks, are those of their respective owners. All rights reserved. All proprietary rights and interest in or connected with this publication shall vest in Flow Traders. No part of it may be redistributed or reproduced without the prior written permission of Flow Traders.

This presentation may include forward-looking statements, which are based on Flow Traders’ current expectations and projections about future events, and are not

guarantees of future performance. Forward looking statements are statements that are not historical facts, including statements about our beliefs and expectations. Words such as “may”, “will”, “would”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “project”,

“believe”, “could”, “hope”, “seek”, “plan”, “foresee”, “aim”, “objective”, “potential”, “goal” “strategy”, “target”, “continue” and similar expressions or their negatives are used to identify these forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside the control of Flow Traders. Such factors may cause actual results, performance or developments to differ materially from those expressed or implied by such forward-looking statements. Accordingly, no undue reliance should be placed on any forward-looking statements.

Forward-looking statements speak only as at the date at which they are made. Flow Traders expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statements contained in this presentation to reflect any change in its expectations or any change in events, conditions or circumstances on which such statements are based unless required to do so by applicable law.

Financial objectives are internal objectives of Flow Traders to measure its operational performance and should not be read as indicating that Flow Traders is targeting such metrics for any particular fiscal year.

Flow Traders’ ability to achieve these financial objectives is inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond Flow Traders’ control, and upon assumptions with respect to future business decisions that are subject to change. As a result, Flow Traders’ actual results may vary from these financial objectives, and those variations may be material.

Efficiencies are net, before tax and on a run-rate basis, i.e. taking into account the full- year impact of any measure to be undertaken before the end of the period mentioned. The expected operating efficiencies and cost savings were prepared on the basis of a number of assumptions, projections and estimates, many of which depend on factors that are beyond Flow Traders’ control. These assumptions, projections and estimates are inherently subject to significant uncertainties and actual results may differ, perhaps materially, from those projected. Flow Traders cannot provide any assurance that these assumptions are correct and that these projections and estimates will reflect Flow Traders’ actual results of operations.

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Flow Traders | Investor Presentation 3

� Founded in January 2004 with offices in Amsterdam, New York and Singapore

� Flow Traders trades in all time zones

� Our core business is providing liquidity for ETPs1

� Around 100 traders providing continuous ETP liquidity on 97 trading venues worldwide

� We are listed on Euronext in Amsterdam since 10th of July 2015 (Ticker FLOW NA)

� Flow Traders is independent and not linked to any issuer or bank

A leading global technology-enabled liquidity provider specialized in ETPs

1 ETPs (Exchange Traded Products) include ETFs (Exchange Traded Funds), ETCs (Exchange Traded Commodities) and ETNs (Exchange Traded Notes)

An introduction

Flow Traders |

Flow Traders at a glance

Investor Presentation 4

AMERICAS

(since 2009)

ETP AuM(€bn)

2,228

FLOW ETPValue Traded(€bn)*

129FTE

49

EUROPE

(since 2004)

ETP AuM(€bn)

511

FLOW ETPValue Traded(€bn) *

289FTE

226

ASIA

(since2007)

ETP AuM(€bn)

278

FLOW ETPValue Traded(€bn) *

23FTE

50

ETP AUM as at 30 September 2016, ETP Value Traded for the nine months period ended 30 September 2016 and FTE for the quarter ended 30 September 2016

Flow Traders |

Our corporate culture supports our leading market position

Investor Presentation 5

�

�

�

�

�

Risk managementFocus

ETPPricing

Excellence

Cutting-EdgeProprietary Technology

Platform

StrongTeam-Driven

Culture

High-growth underlying market driven by secular shifts in the asset management industry

Critical component of the ETP Ecosystem

Leading global technology-enabled ETP-focused liquidity provider

Highly collaborative, integrated and resilient business model with strong barriers to entry

Strong growth, high margins and attractive dividend pay-out ratio

Flow Traders |

Critical component of the ETP Ecosystem

Investor Presentation 6

97 Exchanges and other Trading Venues

>475 Institutional Counterparties

Asset managers, private banks, insurance companies etc.

>25 ETP issuers

Global risk transfer between market participants

Ability to create and redeem daily

On-exchangeliquidity provision

ETPs vs basket of assets / cash

ETP creation / redemption

Pri

ma

ry M

ark

et

Secondary M

arket

ETPs vs cash ETPs vs cash

Institutional / off-exchange liquidity provision

� Providing liquidity to the global ETP market, fostering primary issuance and secondary trading

� Facilitating primary issuance through Authorized Participant (AP) agreements

� Aggregating flow from all market participants

� Increasing secondary market efficiency through global interconnectivity and efficient pricing

Flow Traders |

3Q results overview

Investor Presentation 7

Flow Traders |

Executive summary 3Q performance

Investor Presentation 8

� We have increased our market share in the third quarter as we grew in ETP Value Traded, confirming our position as leading global ETP liquidity provider

� Slow market trading activity, with VIX close to all time lows, impacted our Net Trading Income (NTI) and Revenue Capture

� We still see a lot of growth opportunities in the US and Asia

� We continue to invest in our people and technology to benefit from future growth and facilitate our growing presence

� We are on track to deliver the second best year since inception

Flow Traders |

ETP market continued to grow in 3Q16

Investor Presentation 9

5,109 4,901

5,974

5,317

6,065

5,053 4,708

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16

ETP Assets under Management grew by 5.8% quarter-on-quarter

Net inflows trend remains skewed towards Fixed Income & Equity products

Quarterly increase in ETP listings driven by the Americas and APAC regions

-

500

1,000

1,500

2,000

2,500

3,000

3,500

31 Dec2013

30 Jun2014

31 Dec2014

30 Jun2015

31 Dec2015

30 Jun2016

30-Sep-16

Equity Fixed Income Commodities Other

1,9182,079

2,6672,642

2,851

3,016

(30)

(10)

10

30

50

70

90

110

130

1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16

Equity Fixed Income Commodities Other

€ bn

* Source: Blackrock, Flow Traders, BloombergMarket Velocity is the Market ETP Value Traded divided by the Market ETP Assets under Management

1,744

24

66

50

107

85

46

76

109

23

83

-

2,000

4,000

6,000

8,000

10,000

12,000

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16

EMEA Americas APAC

8,024 8,2628,556

8,8919,117

9,5429,644

Second consecutive quarter of decreasing on-exchange ETP Value Traded

111

Combined with lower VIX this impacts margins, despite short term Brexit event

€ bn

€ bn

0

10

20

30

40

50

60

1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16

Quarterly Intraday High Quarterly Intraday LowQuarterly Average close level

Drop in Market Velocity demonstrates the continuing slowdown through 2016

number

%

1.5

1.7

1.9

2.1

2.3

2.5

2.7

2.9

3.1

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16

Flow Traders |

Resilient performance in a challenging environment

Investor Presentation 10

36.5 76.9 64.6

24.9

70.5 67.9

38.1

92.8

48.8 73.2

64.5

-

50.0

100.0

150.0

200.0

250.0

300.0

350.0

2014 2015 2016 YTD

1Q 2Q 3Q 4Q

172.7

304.7

181.3

YTD YTD

In €bn unless otherwise stated 3Q16 2Q16 ∆ Sept16 Sept15 ∆

Market ETP Value Traded 4,708 5,053 (7%) 15,826 15,984 (1%)

Europe 216 241 (10%) 723 735 (2%)

Americas 4,103 4,333 (5%) 13,693 13,280 3%

APAC 390 479 (19%) 1,410 1,969 (28%)

Flow Traders ETP Value Traded 149 141 5% 441 462 (5%)

Europe 98 94 4% 289 292 (1%)

Americas 45 39 13% 129 125 3%

APAC 6 8 (19%) 23 45 (50%)

Flow Traders NTI (€m) 48.8 67.9 (28%) 181.3 240.2 (25%)

Europe 29.6 43.6 (32%) 113.1 149.1 (24%)

Americas 14.6 19.9 (26%) 50.5 38.4 32%

APAC 4.6 4.4 3% 17.7 52.7 (66%)

Flow Traders RevCap (bps) 3.3 4.8 (1.5) 4.1 5.2 (1.1)

Europe 3.0 4.6 (1.6) 3.9 5.1 (1.2)

Americas 3.3 5.0 (1.8) 3.9 3.1 0.9

APAC 7.5 5.9 1.6 7.8 11.7 (3.9)

Note 1: Market Value Traded is restated based on Flow Traders Market reference data.Note 2: Flow Traders Value Traded is restated to correct for creations and redemptions, NTI is not impacted. Refer to appendix for more details.

KPIs Flow Traders Flow Traders NTI (in €m)

� 3Q16 was dominated by the Brexit aftermath, Central Bank decisions across the globe and the upcoming US elections and Italian referendum

� Market circumstances kept investors side-lined as volatility declined further to levels last seen in summer 2014

� Product mix traded in the market remains skewed towards highly liquid products, as flagged in previous quarters

External Developments

� ETP Value Traded improved 5% compared to the previous quarter whilst the market ETP Value Traded declined 7% over the same comparative period

� NTI declined 28% q-o-q due to tightening market spreads, following lower market volumes as investors were assessing impact Brexit and the upcoming US elections and Italian referendum

� Revenue Capture reached 3.3 bps as lower volatility affected market spreads and product mix, especially in Europe

Flow Traders’ Performance

Flow Traders |

Maintaining cost discipline to preserve operating margins

Investor Presentation 11

Impact of decline in Net Trading Income compensated by reduction in variable component of operating expenses

� Increase in fixed employee expenses in line with expectation and driven by recruitment in September, increase in headcount

� Technological developments continued to improve performance, with a special focus on the US and Asian offices

� Technology expenses declined marginally versus 2Q due to mainly lower connectivity costs

� Variable employee expenses reduced on the back of profit for the quarter

� Other expenses grew, containing cost items like housing, fixed exchange costs. Housing showed a peak following increase in headcount in September

� Flow Traders is on track to realize second best year to date

Flow Traders EBITDA

3Q 2Q 3Q16 vs YTD YTD Adj. YTD YTD16 vs

Consolidated (in €m) 2016 2016 2Q16 Sep 16 Sep 15 Sep 15 adj. YTD-15

Net Trading Income 48.8 67.9 (28%) 181.3 240.2 240.2 (25%)

Employee expenses (fixed) (6.8) (6.6) (19.4) (15.1) (15.1) 29%

Employee expenses (variable) (9.8) (17.3) (42.4) (72.2) (105.4) (41%)

Technology expenses (8.3) (8.6) (25.4) (19.5) (19.5) 30%

Other expenses (3.5) (2.4) (8.5) (7.9) (9.8) 7%

Operational Expenses (28.4) (35.0) (19%) (95.7) (114.8) (149.8) (17%)

EBITDA 20.5 32.9 (38%) 85.6 125.4 90.4 (32%)

Depreciation / Amortisation (1.5) (1.5) (4.7) (5.0) (5.0)

Write offs tangible assets (0.1) (0.5) (2.7) (0.0) (0.0)

Result subsidiaries (0.0) 0.0 0.0 - -

Profit Before Tax 18.9 30.9 (39%) 78.2 120.5 85.4 (35%)

Tax (3.8) (2.2) (11.3) (21.9) (17.9)

Net Profit 15.0 28.7 (48%) 66.9 98.5 67.5 (32%)

EPS (in €) 0.32 0.62 1.44 2.12 1.45

EBITDA margin (in %) 42% 48% 47% 52% 38%

Flow Traders |

Preserved balance sheet strength

Investor Presentation 12

Condensed Balance Sheet (In €m) ∆ 30 Sept 16

Assets 30 Sep 16 31 Dec 15 vs. 31 Dec 15

Trading Capital 300 340 (40)

Property, Equipment and Intangible Assets 22 24 (2)

Other Assets 24 19 5

Total Assets 346 383 (37)

Equity & Liabilities

Other Liabilities 98 122 (23)

Tax Liabilities 7 14 (7)

Total Liabilities 105 136 (31)

Total Equity 240 247 (6)

Capital management resulted in stable trading capital, despite payment of interim dividend

Condensed consolidated Financial Position Development of regulatory capital

� Trading capital at the end of 3Q was €300m, reflecting a stable position versus the previous quarter

� Interim dividend payment of € 0.55 per share in September 2016

� Regulatory Required Capital remained stable at € 132.7m from € 136.7m end 2Q16

� Our list of Prime Brokers continued to grow in 3Q

� Focus continues to be on maximizing profitability and returns to shareholders and remaining committed to paying at least 50% of our Net Profit in dividends

Trading Capital & Dividend

180.5

217.1

268.0252.2

240.2

84.3

123.5

94.0

136.7 132.7

204.3

280.3

340.0

298.9 300.0

0

50

100

150

200

250

300

350

400

31 Dec 2014 30 Jun 2015 31 Dec 2015 30 Jun 2016 30-Sep-16

Regulatory Capital Regulatory Capital Required Total Trading Capital

Flow Traders |

Long term historic growth trend continuous

Investor Presentation 13

48

105

91

143

173

305

181

1,3901,435

1,838

2,262

2,640

2,904

3,262

0.0

50.0

100.0

150.0

200.0

250.0

300.0

350.0

0

50

100

150

200

250

300

350NTI

AUM

Flow Traders’ NTI (in €m), Market’s AUM ($Bn) and VIX annual average (%) since 2010

Despite varying levels of volatility through the years, Flow Traders NTI growth trend has consistently outperformed the market AuM growth trend

NTI (€m) AUM ($bn)

VIX (%)2010 2011 2012 2013 2014 2015 9M 2016

3,000

2,500

2,000

1,500

1,000

500

0

3,500

2010 2011 2012 2013 2014 2015 9M 20165

15

25

35

2010 2011 2012 2013 2014 2015 2016

Stable growth with upside potential in periods of higher volatility

Flow Traders |

Recognition of our expertise and market leading position

Investor Presentation 14

Nine consecutive years running

ETF MARKET

MAKER Europe2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015

Four times winner

ETF MARKET

MAKER Asia-Pacific2011 | 2012 | 2013 | 2015

Four consecutive years running

ETF EXPRESS

Award Winner2013 | 2014 | 2015 | 2016

Three times winner

ETF RISK

Best TradingHouse2013 | 2014 | 2015