Item 8. Financial Statements and Supplementary Data

Nasdaq’s consolidated financial statements, including

Consolidated Balance Sheets as of December 31, 2025 and

2024, Consolidated Statements of Income for the years ended

December 31, 2025, 2024 and 2023, Consolidated Statements

of Comprehensive Income for the years ended December 31,

2025, 2024 and 2023, Consolidated Statements of Changes in

Stockholders’ Equity for the years ended December 31, 2025,

2024 and 2023, Consolidated Statements of Cash Flows for

the years ended December 31, 2025, 2024 and 2023 and

notes to our consolidated financial statements, together with a

report thereon of Ernst & Young LLP, dated February 12,

2026, are attached hereto as pages F-1 through F-44 and

incorporated by reference herein.