RJF SHAREHOLDERS’ MEETING February 21, 2013
1
FORWARD LOOKING STATEMENTS
This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of
Raymond James’ management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause Raymond James’ actual results to differ materially from those described in the forward-looking statements can be found in Raymond James’ Annual Report on Form 10-K for the year ended September 30, 2012,
and the Quarterly Report on Form 10-Q for the quarter ended December 31, 2012, each of which has been filed with the Securities and Exchange Commission and is available on the Raymond James
website (www.raymondjames.com) and on the Securities and Exchange Commission’s website (www.sec.gov). Raymond James does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking
statements.
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TOM JAMES Executive Chairman, Raymond James Financial
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REPORT OF SHARES PRESENT Paul L. Matecki
General Counsel/Corporate Secretary, RJF
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2012: 50TH ANNIVERSARY
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RAYMOND JAMES FINANCIAL
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100 Consecutive Quarters of Profitability
Trailing 10 Years
Earn
ings
Per
Sha
re (B
asic
)
$0.00
$0.10
$0.20
$0.30
$0.40
$0.50
$0.60
$0.70
Dec
-02
Mar
-03
Jun-
03
Sep
-03
Dec
-03
Mar
-04
Jun-
04
Sep
-04
Dec
-04
Mar
-05
Jun-
05
Sep
-05
Dec
-05
Mar
-06
Jun-
06
Sep
-06
Dec
-06
Mar
-07
Jun-
07
Sep
-07
Dec
-07
Mar
-08
Jun-
08
Sep
-08
Dec
-08
Mar
-09
Jun-
09
Sep
-09
Dec
-09
Mar
-10
Jun-
10
Sep
-10
Dec
-10
Mar
-11
Jun-
11
Sep
-11
Dec
-11
Mar
-12
Jun-
12
Sep
-12
Dec
-12
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RJF HIGHLIGHTS
Total Revenues
Net Revenues
Net Income
Shareholders’ Equity
Market Capitalization
As of Sept. 2011
Twelve Months Ended
September 2011
Increase*
$3.9 billion
$3.8 billion
$296 million
$3.3 billion
$5.0 billion
$3.4 billion
$3.3 billion
$278 million
$2.6 billion
$3.3 billion
15%
14%
6%
Net Income Per Share (diluted) $2.20 $2.19 -
26%
54%
Twelve Months Ended
September 2012
As of Sept. 2012
* Percentage change in this table reflects calculations from actual numbers and cannot be recalculated from the figures shown due to rounding differences. ** Refer to the discussion and reconciliation of the GAAP results to the non-GAAP results in our quarterly earnings release dated October 24, 2012, available at www.rjf.com.
Increase*
Non-GAAP Net Income** $334 million $303 million 10%
Non-GAAP Net Income Per Share (diluted)** $2.51 $2.39 5%
RAYMOND JAMES FINANCIAL
Core Business Total Revenue, Twelve Months Ended Sept. 30
8
Private Client Group $2.5 bil 64%
Capital Markets $797 mil 20%
Asset Mgmt. $237 mil
6% RJ Bank $346 mil
9%
2012 $3,897,900,000
Private Client Group $2.2 bil 64%
Capital Markets $664 mil 20%
Asset Mgmt. $227 mil
7% RJ Bank $282 mil
8%
2011 $3,399,886,000
Other 1%
Other 1%
RAYMOND JAMES FINANCIAL
Core Business Pre-Tax Income, Twelve Months Ended Sept. 30*
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Private Client Group $210 mil 35%
Capital Markets $83 mil 14%
Asset Mgmt. $67 mil 11%
RJ Bank $240 mil 40%
2012 $471,525,000
Private Client Group $219 mil 41%
Capital Markets $78 mil 15%
Asset Mgmt. $66 mil 12%
RJ Bank $173 mil 32%
2011 $461,247,000
* Charts are intended to show relative contribution of each of the firm’s four primary business units. Dollar amounts do not add up to total Pre-Tax Income due to “Other” category (-$128 mil for 2012 and -$75 mil for 2011) not being depicted. Other includes Emerging Markets, Securities Lending Proprietary Capital and miscellaneous other income/expense.
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RJF HIGHLIGHTS
Total Revenues
Net Revenues
Net Income
Shareholders’ Equity
Market Capitalization
As of Dec. 2011
Three Months Ended
December 2011
Increase*
$1.1 billion
$1.1 billion
$86 million
$3.4 billion
$5.3 billion
$799 million
$783 million
$67 million
$2.6 billion
$3.9 billion
42%
42%
28%
Net Income Per Share (diluted) $0.61 $0.53 15%
28%
37%
Three Months Ended
December 2012
As of Dec. 2012
* Percentage change in this table reflects calculations from actual numbers and cannot be recalculated from the figures shown due to rounding differences.
Increase*
Non-GAAP Net Income** $97 million $67 million 45%
Non-GAAP Net Income Per Share (diluted)** $0.69 $0.53 30%
** Refer to the discussion and reconciliation of the GAAP results to the non-GAAP results on page 63 of our December 31, 2012 Form 10-Q, available at www.sec.gov.
RAYMOND JAMES FINANCIAL
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Balance Sheet Highlights, as of December 31, 2012
Total Assets $22.3 billion
Total Shareholders’ Equity $3.4 billion
Shares Outstanding 138.5 million
Book Value Per Share
Leverage (Assets/Equity) 6.6x
Leverage Ex. RJ Bank
$1.2 billion Corporate Debt
$24.59
5.3x
RAYMOND JAMES FINANCIAL
Core Business Total Revenue, Three Months Ended Dec. 31
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Private Client Group $713 mil 63%
Capital Markets $248 mil 22%
Asset Mgmt. $66 mil 6%
RJ Bank $92 mil 8%
2012 $1,137,509,000
Private Client Group $529 mil 66%
Capital Markets $136 mil 17%
Asset Mgmt. $57 mil 7%
RJ Bank $77 mil 10%
2011 $798,817,000
Other 1%
Other 0%
RAYMOND JAMES FINANCIAL
Core Business Pre-Tax Income, Three Months Ended Dec. 31*
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Private Client Group $53 mil 31%
Capital Markets $32 mil 18%
Asset Mgmt. $21 mil 12%
RJ Bank $68 mil 39%
2012 $139,147,000
Private Client Group $49 mil 38%
Capital Markets $10 mil 8%
Asset Mgmt. $16 mil 13%
RJ Bank $53 mil 41%
2011 $110,851,000
* Charts are intended to show relative contribution of each of the firm’s four primary business units. Dollar amounts do not add up to total Pre-Tax Income due to “Other” category (-$35 mil for 2012 and -$17 for 2011) not being depicted. Other includes Emerging Markets, Securities Lending Proprietary Capital and miscellaneous other income/expense.
PRIVATE CLIENT GROUP TRENDS
14
222
178
85
160
219 210
53
07 08 09 10 11 12 Q1-‐13
Pre-Tax Income $ Millions
212*
1,987 2,000
1,557
1,903
2,186
2,475
713
07 08 09 10 11 12 Q1-‐13
Total Revenue $ Millions
2,852*
4.5% CAGR 5-year 2012
(1.1)% CAGR 5-year 2012
* Annualized
PRIVATE CLIENT GROUP TRENDS
217 197
223 249 254
370 370.2
07 08 09 10 11 12 Q1-‐13
Total Client Assets* $ Billions
11.3% CAGR 5-year 2012
6.3% CAGR 5-year 2012
07 08 09 10 11 12 Q1-‐13
Number of Advisors Other RJL RJA RJFS MK
5,045 5,391 5,350
6,330 6,289
5,368
4,659
15 *Excludes institutional assets of approximately $21.8 billion, $22.5 billion and $2.5 billion at December 31, 2012, September 30, 2012 and 2011, respectively.
CAPITAL MARKETS TRENDS
16
63
44
73
84 78
83
32
07 08 09 10 11 12 Q1-13
Pre-Tax Income $ Millions
128*
506 506 533 592
664
797
248
07 08 09 10 11 12 Q1-13
Total Revenue $ Millions 992*
9.5% CAGR 5-year 2012
5.7% CAGR 5-year 2012
* Annualized
ASSET MANAGEMENT GROUP TRENDS
17
63 62
30
47
66 67
21
07 08 09 10 11 12 Q1-13
Pre-Tax Income $ Millions
84* 241 244
177 197
227 237
66
07 08 09 10 11 12 Q1-13
Total Revenues $ Millions
264*
(0.2)% CAGR 5-year 2012
1.2% CAGR 5-year 2012
* Annualized
280
405
343
277 282
346
92
Total Revenue $ Millions
368*
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RAYMOND JAMES BANK TRENDS
18 18 1 Includes $1.9 billion borrowed overnight for regulatory reasons; 2 Includes $3.2 billion excess for regulatory reasons; 3 Includes $3.5 billion excess for regulatory reasons.
11.41
11.12
Assets $ Billions
10.83
9.0 9.7 10.1
6.3
27
112
80
112
173
240
68
Pre-Tax Income $ Millions
272*
4.3% CAGR 5-year 2012
54.8% CAGR 5-year 2012
9% CAGR 5-year 2012
* Annualized
RAYMOND JAMES FINANCIAL
Net Interest Earnings
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07 08 09 10 11 12 Q1-13
Other Stock Loan/Stock Borrow Retail Balances Raymond James Bank
95
380* 332
387
308
326
226
362
* Annualized
RAYMOND JAMES FINANCIAL
Transactional vs. Recurring Revenues
59% 61%
53% 54% 55% 56% 55%
41%
39%
47%
46% 45%
44% 45%
0%
10%
20%
30%
40%
50%
60%
70%
2007 2008 2009 2010 2011 2012 Q1-2013
Percentage of Total Revenues
Transactional
Recurring
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RAYMOND JAMES FINANCIAL
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RJF Stock Price vs. Sector, Five-Year Change
18.0%
-2.9%
-35.9%
-60.0%
-40.0%
-20.0%
0.0%
20.0%
40.0%
RJF S&P 500 DJ US Financials Index
Perc
ent C
hang
e
Five Years Ended December 31, 2012
18.7
10.0
19.0 21.3
24.4
29.0 26.9
19.4 18.7
22.4
19.0
19.8
16.1
21.0
13.3
9.7 9.7
12.8 13.1
15.7 15.6
13.0
7.9
10.6 11.3
9.7 10.3
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
RAYMOND JAMES FINANCIAL
22
Return on Equity
* Annualized
11.6**
** NON-GAAP for 12/31 (annualized)
*
RAYMOND JAMES FINANCIAL
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2012 vs. 1983 Operating Metrics
Total Revenues $70.6 million
Total Pre-Tax Income $9.4 million
Shareholders’ Equity $28.3 million
$3.9 billion
$472 million
$3.3 billion
Twelve Months Ended
September 1983
Twelve Months Ended
September 2012 CAGR
29-year 2012
As of Sept. 2012 As of Sept. 1983 Increase*
14.8%
14.4%
17.8%
* Increase in this table reflects calculations from actual numbers and cannot be recalculated from the figures shown due to rounding differences.
115x
50x
55x
Increase*
CAGR 29-year 2012
Long-Term Stock Performance
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RAYMOND JAMES FINANCIAL
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12
200 Shares of RJF Stock Purchased at IniLal Offering
$184,367 15.20% RJF ROR, Excluding Dividends
$278,641 16.82% RJF ROR, Including Reinvested Dividends
$51,027 10.31% S&P 500 Index ROR, Including Reinvested Dividends**
1/13
$58,674 8.30% Dow Jones US Financials Index ROR, Including Reinvested Dividends*
*Performance of the Dow Jones US Financials Index was calculated by investing the value at 12/31/91 of the amount needed t o purchase 200 shares of RJF stock on the IPO date of 7/1/1983, and then multiplying that amount by the close of the Dow Jones US Financials Total Return index at the end of each fiscal year end or quarter end between 1992-2013. This index was first calculated on February 14,2000 with estimated back-tested history available from 12/31/91. The total return version of this index is calculated with gross dividends reinvested. **Performance of the S&P 500 was calculated by investing the equivalent amount needed to purchase 200 shares of RJF stock on the IPO date of 7/1/1983, and then multiplying that amount by the close of the S&P 500 at the date of each fiscal year end or quarter end between 1984-2013. Dividends were reinvested quarterly, other than dividends during the period 1/1/13 through 1/31/13.
PAUL REILLY CEO, Raymond James Financial
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PREMIER ALTERNATIVE TO WALL STREET
26
SCO
PE A
ND
SC
ALE
OF
SER
VIC
ES
CULTURE: SERVICE/CLIENT ORIENTATION
WIREHOUSES
BOUTIQUES
REGIONALS
CUSTODIANS
THE PREMIER ALTERNATIVE TO
WALL STREET
RJ INDEPENDENTS
THE PREMIER ALTERNATIVE TO
WALL STREET
PREMIER ALTERNATIVE TO WALL STREET
27
SCO
PE A
ND
SC
ALE
OF
SER
VIC
ES
CULTURE: SERVICE/CLIENT ORIENTATION
WIREHOUSES
BOUTIQUES
REGIONALS
CUSTODIANS
RJ +
MK INDEPENDENTS
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MORGAN KEEGAN IMPACT
EXPANDED PCG FOOTPRINT
MORE BALANCED BUSINESS MIX
STRENGTHENED WEALTH SOLUTIONS & PRACTICE MANAGEMENT SUPPORT
Private Client Group
29
MORGAN KEEGAN IMPACT
Fixed Income
INCREASED SIZE OF FIXED INCOME & PUBLIC
FINANCE TEAMS
NATIONALLY RANKED UNDERWRITER
INCREASED SCOPE OF SERVICES
30
MORGAN KEEGAN IMPACT
ENHANCED RETAIL SUPPORT
EXPANDED COVERAGE ACROSS INDUSTRIES
Equity Capital Markets
31
MORGAN KEEGAN IMPACT
MANAGEMENT DEPTH
Additional Benefits
TECHNOLOGY ENHANCEMENTS EFFICIENCIES
32
MORGAN KEEGAN IMPACT
Consolidated Brand
33
MORGAN KEEGAN IMPACT
Consolidated Brand
2012 FOCUS
34
Attention Inward
2012 FOCUS
35
LOOKING FORWARD
36
Refocus on Growth
LOOKING FORWARD
37
LOOKING FORWARD
38
Private Client Group Strategic Initiatives
IMPLEMENT NEW FA PAYOUT GRID
EVALUATE CLIENT PRICING
ENHANCE ADVISOR DESKTOP
LOOKING FORWARD
39
Capital Markets Strategic Initiatives
LEVERAGE SYNERGIES
INTERNATIONAL MARKETS
FORTIFY COMPETITIVE POSITIONING
LOOKING FORWARD
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Asset Management Group Strategic Initiatives
REALIZE BENEFITS OF MORGAN KEEGAN
INCREASE EAGLE’S PRODUCT DEVELOPMENT
FOCUS ON SYNERGY OPPORTUNITIES
LOOKING FORWARD
41
Raymond James Bank Strategic Initiatives
ACCELERATE CORPORATE LOAN
GROWTH
EXECUTE ON EXISTING STRATEGIES
LOOKING FORWARD
42
Investing in Technology
LOOKING FORWARD
43
Operational Efficiencies
LOOKING FORWARD
44
INTEGRITY
INDEPENDENCE CONSERVATISM
CLIENT FIRST
Preserving Our Culture
LOOKING FORWARD
45
Preserving Our Culture
RJF SHAREHOLDERS’ MEETING February 21, 2013
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REPORT OF VOTE Paul L. Matecki
General Counsel/Corporate Secretary, RJF
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RJF SHAREHOLDERS’ MEETING February 21, 2013
48