LONDON NEW YORK–(BUSINESS WIRE)–Markit Ltd. (Nasdaq: MRKT), a leading global provider of financial
information services, today announced an aggregate $200 million
accelerated share repurchase (ASR) with J.P. Morgan Securities LLC
(“JPMorgan”), as agent for JPMorgan Chase Bank, National Association,
London Branch and Morgan Stanley Co. LLC (“Morgan Stanley”). The
transaction completes the $500 million share repurchase program
announced in June 2015, with an additional $50 million share repurchase
approved by Markit’s board of directors in connection with the ASR.

Jeff Gooch, chief financial officer at Markit, said: “Our share
repurchases in 2015 demonstrate our disciplined and balanced capital
allocation strategy and our confidence in Markit’s growth prospects. Our
strong balance sheet and significant free cash flow generation provide
the flexibility to complete buybacks while continuing to pursue value
enhancing acquisitions. With this transaction, we’re delivering on our
commitment to drive shareholder value.”

Under the ASR, Markit will pay an initial $200 million in the aggregate
to JPMorgan and Morgan Stanley to repurchase outstanding Markit common
shares. Upon commencement of the ASR, Markit expects to initially reduce
its share count by approximately 5.1 million shares and Markit may
receive additional shares at or prior to maturity of the ASR. The total
number of shares ultimately to be repurchased by Markit under the ASR
will generally be based on the daily volume-weighted average price of
the shares during the calculation period for each ASR, less an agreed
discount. At final settlement of each ASR, Markit may be entitled to
receive additional shares, or, under certain limited circumstances, be
required to deliver shares to the relevant ASR counterparty.

Markit anticipates that all repurchases under the ASR Agreements will be
completed by the third quarter of 2016, although each ASR counterparty
has the right to accelerate settlement of its respective ASR under
certain circumstances. The ASR will be funded through a combination of
cash on hand and Markit’s revolving credit facility. All common shares
repurchased under the ASR will be cancelled.

Forward-looking statements

This release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. All statements, other than statements
of historical facts, included in this release that address activities,
events or developments that Markit expects, believes or anticipates will
or may occur in the future are forward-looking statements. Markit’s
estimates and forward-looking statements are mainly based on its current
expectations and estimates of future events and trends, which affect or
may affect its businesses and operations. Although Markit believes that
these estimates and forward-looking statements are based upon reasonable
assumptions, they are subject to several risks and uncertainties and are
made in light of information currently available to Markit. When used in
this release, the words “anticipate,” “believe,” “could,” “intend,”
“expect,” “estimate,” “should,” “plan,” “will” or other similar words
are intended to identify forward-looking statements. Such statements are
subject to a number of assumptions, risks and uncertainties, many of
which are beyond the control of Markit, which may cause actual results
to differ materially from those implied or expressed by the
forward-looking statements. Further information on such assumptions,
risks and uncertainties is available in Markit’s filings with the US
Securities and Exchange Commission, including its annual report on Form
20-F. Markit undertakes no obligation and does not intend to update or
correct these forward-looking statements to reflect events or
circumstances occurring after the date of this release, except as
required by applicable law. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the
date of this report. All forward-looking statements are qualified in
their entirety by this cautionary statement.

About Markit

Markit is a leading global provider of financial information services.
We provide products that enhance transparency, reduce risk and improve
operational efficiency. Our customers include banks, hedge funds, asset
managers, central banks, regulators, auditors, fund administrators and
insurance companies. Founded in 2003, we employ over 4,000 people in 11
countries. Markit shares are listed on Nasdaq under the symbol MRKT. For
more information, please see www.markit.com.