Continuing to Work Together to Strengthen the Foundation for Continued Growth at Jefferies

We are so pleased with our capital raising efforts last week, we decided that Spring will come early for Jefferies this year and are moving up our May 1^st Jef_all by a few weeks to share with you all what is on our mind today:

This week, we will receive almost $3 billion of incremental capital thanks to the strong efforts last week of our European and U.S. Fixed Income teams. We are pleased to announce that we have completed raising of incremental capital for all of us at Jefferies in the form of:

1. €750 million of 2-year notes at a coupon of 3.875%
2. €500 million of 5-year notes at a coupon of 4.0%
3. $1.5 billion of 10-year notes at a coupon of 6.20%

We have always taken great pride at Jefferies in having a robust equity base and an “easy to understand,” transparent, and highly liquid balance sheet. This capital raise will supply additional resources to support our increased global capabilities as we continue to build Jefferies.

As you know, we have grown our market share significantly by continuing to serve our global investing clients throughout the universe of liquid securities. Our clients count on us more than ever to help them manage their assets on behalf of their stakeholders. The intermediate term capital we have raised will enable us to prudently continue on the path to being even more important to this important group of Jefferies clients.

The long-term capital that we raised is designed to further pave the way for our next 10 years of continued investment, growth, and development of our global investment banking, capital markets, and asset management businesses. You have all seen us continue to invest in high-quality new partners from around the globe who are now working hand in hand with our spectacular team as we all work to best serve our global client base.

Our strategy is intact and will not veer from our historical course and commitment to work with each of you to build a world-class, full-service, global investment banking and capital markets firm that will serve our clients, build long-term value for our shareholders, protect our bondholders, and serve as a source of pride and career happiness for our team.

We are half-way into our second fiscal quarter of 2024, and the markets, while never easy, are wide open for business.  Let’s please get to it!

Better capitalized than ever with each one of you,

Rich and Brian