U.S. Options

Effective May 1, 2026, MIAX Sapphire Options Exchange will amend the following fees and rebates, pending filing with the Securities and Exchange Commission:

1. Introduction of MIAX Sapphire Monthly Trading Floor Firm Fee Cap
   1. Floor fees for eligible Firm-Origin Qualified Floor Orders (QFO), Complex Qualified Floor Orders (cQFO), Qualified Contingent Cross (QCC) transactions, and Complex Qualified Contingent Cross (cQCC) transactions will be capped at $225,000 per month per eligible participant OCC clearing account
      1. Fees for Strategy Trades executed on the MIAX Sapphire Trading Floor and Electronic transactions are excluded
      2. Transactions in commingled clearing accounts are not eligible, and not subject to the Monthly Trading Floor Firm Fee Cap
   2. Floor Broker Rebates will be adjusted once an eligible participant clearing account reaches the Monthly Trading Floor Firm Fee Cap
      1. QFO/cQFQ - Floor Broker Rebates will not be paid on non-billable (capped) sides
      2. Floor QCC/cQCC – Floor Broker rebates will be adjusted and eligible for rebates of ($0.00)/($0.07)/($0.17) depending on the origins on the transactions

Attached is a highlighted summary of the fee changes. Complete details will be contained in the May 1, 2026 exchange fee schedules, when posted on the MIAX website at MIAX Sapphire Fee Schedule.

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

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