Common use of ELECTION INFORMATION BOOKLET Clause in Contracts

ELECTION INFORMATION BOOKLET. This information booklet from CBOE Holdings, Inc. (“CBOE Holdings”) is provided to stockholders of Bats Global Markets, Inc. (“Bats”). It answers frequently asked questions, briefly describes your options and provides information and instructions on how to make your election. We urge you to read the instructions to the enclosed Election Form carefully and review the Frequently Asked Questions below, as well as the Joint Proxy Statement/Prospectus dated [·], 2016 (the “Proxy Statement”), which you received in connection with Bats’ special meeting of stockholders to be held on [·], 201[·]. After reviewing these materials, please complete the Election Form and send it in the enclosed envelope to the exchange agent for the merger, Computershare Trust Company, N.A. (the “Exchange Agent” or “Computershare”). If you have additional questions after reading these materials, you should contact the information agent for the transaction, Innisfree M&A Incorporated (“Innisfree”) at (▇▇▇) ▇▇▇-▇▇▇▇ (toll-free) or (▇▇▇) ▇▇▇-▇▇▇▇ (collect). The deadline for receipt of your Election Form is 5:00 P.M., Eastern Time, on the date that is two business days preceding the closing date of the merger (the “Election Deadline”). CBOE Holdings and Bats will publicly announce the Election Deadline at least three business days prior to the anticipated closing date of the merger, but you are encouraged to return your Election Form and confirmation of book-entry transfer or properly completed Notice of Guaranteed Delivery as promptly as practicable.

ELECTION INFORMATION BOOKLET. This information booklet from CBOE Holdings, Inc. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ (“CBOE Holdings▇▇▇▇▇▇ ▇▇▇▇▇▇▇”) is provided to stockholders of Bats Global Markets, Inc. ▇▇▇▇▇ ▇▇▇▇▇ Corp. (“Bats▇▇▇▇▇ ▇▇▇▇▇”). It answers frequently asked questions, briefly describes your options and provides information and instructions on how to make your election. We urge you to read the instructions to the enclosed Election Form carefully and review the Frequently Asked Questions below, as well as the Joint Proxy Information Statement/Prospectus dated [·•], 2016 2021 (the “Proxy Information Statement/Prospectus”), a copy of which you received in connection with Bats’ special meeting of stockholders to be held on [·], 201[·]accompanies the enclosed Election Form. After reviewing these materials, please complete the Election Form and send it in the enclosed envelope to the exchange agent for the mergermergers, Computershare Trust CompanyBroadridge Financial Solutions, N.A. Inc. (the “Exchange Agent” or “ComputershareBroadridge”). If you have additional questions after reading these materials, you should contact the information agent for the transaction, Innisfree M&A Incorporated (“Innisfree”) ▇▇▇▇▇ ▇▇▇▇▇ Investor Relations at (▇▇▇) ▇▇▇-▇▇▇▇ (toll-free) or ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Investor Relations at (▇▇▇) ▇▇▇-▇▇▇▇ (collect)▇. The deadline for receipt of your Election Form is 5:00 P.M., Eastern Time, on the date that is two three business days preceding the closing date of the merger mergers (the “Election Deadline”). CBOE Holdings ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ and Bats ▇▇▇▇▇ ▇▇▇▇▇ will publicly announce the Election Deadline at least three five business days prior to the anticipated closing date of the mergermergers, but you are encouraged to return your Election Form and confirmation of book-entry transfer or properly completed Notice of Guaranteed Delivery as promptly as practicable.