U.S. Options

Effective September 1, 2023, pending filing with the SEC, MIAX Options, MIAX Pearl Options, and MIAX Emerald Options will amend transaction fees as follows:

1. MIAX Pearl Options – Modification of MIAX Pearl Options Market Makers (“MM”) volume criteria in certain tiers
   1. MM Tier 5 volume criteria will change from ‘Above 1.25% - 1.50%’ to ‘Above 1.25% - 1.40%’
   2. MM Tier 6 volume criteria will change from ‘Above 1.50%’ to ‘Above 1.40%’
2. MIAX Options, MIAX Pearl Options, and MIAX Emerald Options - Addition of Fees for Customer Orders Routed to Another Options Exchange for MEMX Options (in anticipation of launch of MEMX Options in September)
   1. Routed Priority Customer in Penny Program: $0.65
   2. Routed Priority Customer in Non-Penny Program: $1.00
   3. Routed Public Customer that is not a Priority Customer in Penny Program: $0.65
   4. Routed Public Customer that is not a Priority Customer in Penny Program: $1.25

Attached are highlighted summaries of the September 1, 2023 fee changes for the MIAX Options Exchange, MIAX Pearl Options Exchange and MIAX Emerald Exchange.

Complete details will be contained in the September 1, 2023 MIAX Exchange Group Fee Schedules, when posted on the MIAX website at MIAX Options Fee Schedule, MIAX Pearl Options Fee Schedule and MIAX Emerald Options Fee Schedule.

For additional information, please contact MIAX Sales at Sales@miaxglobal.com or (609) 897-8177.

If you need assistance, please contact MIAX Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302.