Regal Partners Limited · ASX:RPL
Regal Partners — Morgans Conference 2025
21 slides from Regal Partners's conference presentation, Oct 22, 2025
Slide 1: Morgans Conference Presentation ASX announcement
Regal Partners Limited ABN 33 129 188 450 Level 46, Gateway, 1 Macquarie Place Sydney NSW 2000 Australia T. +61 2 8197 4350 www.regalpartners.com 22 October 2025 ASX Market Announcements Office ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000 Morgans Conference Presentation For personal
Slide 2: Morgans Conference Presentation
For personal use only Regal Partners Limited (ASX:RPL) Morgans Conference Presentation 22 October 2025
Slide 3: Disclaimer
Disclaimer For personal use only The information in this presentation (“Information”) has been prepared by Regal Partners Limited (ABN 33 129 188 450) (“Regal Partners” or “RPL”) and is current as at the date of this presentation. All currency data in this presentation is in Australian dollars (A$)
Slide 4: Regal Partners Limited
Regal Partners Limited For personal use only $20.0bn $1.3bn ~90 RPL FUM 1 RPL market capitalisation2 Investment professionals3 HEDGE FUNDS4 CREDIT AND REAL AND GROWTH EQUITY4 ROYALTIES NATURAL ASSETS4 Regal Partners aims to be recognised as a leading • • Market Neutral Absolute Return • • Structured
Slide 5: Key RPL metrics have grown strongly over last years
Key RPL metrics have grown strongly over last 3 years FUM1 NET FUM INFLOWS MANAGEMENT & LOAN FEE REVENUE2 $20bn $2.0bn 1.9 $250m For personal use only 17.7 Total 201.6 3.8x 3.8 $200m 3.4x $15bn $1.5bn 12.3 1.1 $150m $10bn $1.0bn 0.9 96.6 5.8 $100m 4.7 59.2 $5bn $0.5bn $50m - - - Jun-22 Jun-23 Jun-24
Slide 6: Three key pillars to our strategy
Three key pillars to our strategy: For personal use only 1. Growth and diversification of our investment capabilities 2. Growth and diversification of our client base 3. Evolve our centralised and scalable platform 5
Slide 7: Growth & diversification of RPL's capabilities and clients
Growth & diversification of RPL’s capabilities and clients Just over 3 years since merger: June 2022 – September 2025 JUNE 2022 FUM1 SEPTEMBER 2025 FUM1 +$15.3bn For personal use only 20k+ investors, 3 institutions 30k+ investors, 50+ institutions increase in FUM +$4.5bn Multi-Strategy (incl ASX:RF1
Slide 8: Ongoing inflows in 2025; diversified by asset class & strategy
Ongoing inflows in 2025; diversified by asset class & strategy Quarterly net FUM inflows ($m) +$1.1bn +$0.9bn +$1.9bn $850m 12m to Jun-23 12m to Jun-24 12m to Jun-25 For personal use only $750m $720m $723m $650m $559m $550m $461m $444m $450m $404m $341m $350m $273m $250m $185m $177m $149m $150m $108
Slide 9: Strong long-term net performance track record
Strong long-term net performance track record ANNUALISED NET PORTFOLIO RETURNS TO 30 SEPTEMBER 2025 (SINCE INCEPTION AND 3 YEARS)1 Regal Tactical Opportunities 38.1% For personal use only Regal Resources Royalties 25.1% Regal Australian Small Companies 23.5% Regal Resources Long Short 18.9% PHILIP K
Slide 10: The 'One RPL' approach
The ‘One RPL’ approach For personal use only Global offices housing staff from all One centralised group investment managers under one roof Integrated technology platforms One sales and marketing team Consolidated group of service One RPL approach to balance sheet providers utilisation Optimised cor
Slide 11: Regal is a leading provider of multi-strategy investment solutions
Regal is a leading provider of multi-strategy investment solutions in Australia REGAL PARTNERS PRIVATE FUND Sub-strategy allocations as at 30 September 20251 TWO MULTI-STRATEGY OFFERINGS1 For personal use only REGAL INVESTMENT FUND REGAL PARTNERS PRIVATE FUND (ASX:RF1) (unlisted) Resources Royalties
Slide 12: Recycling capital to accelerate growth
Recycling capital to accelerate growth Case study: Regal Resources Royalties Fund For personal use only Fund launch Larger deals, greater relevance, increased August 2019 revenue & cash generation Opportunity Annualised return since inception1 25.1% p.a. 30 Sep 2025 FUM post raise2 $95m RAISE AUG-SE
Slide 13: Positive start to 2H25
Positive start to 2H25 3Q25 UPDATE GROWTH FOCUS REMAINS For personal use only 30 Sep FUM Net inflows 1 Diversified, scalable and growing platform $20.0bn >$0.7bn up 13% since 30 Jun 2025 in 3 mths to 30 Sep 2025 Performance fee eligible FUM 2 Attractive market tailwinds 85% ($13.7bn) at or within 5%
Slide 14: Appendix
For personal use only Appendix 13
Slide 15: 1H25 financial highlights
1H25 financial highlights • Average FUM of $17.5bn (up 49% on 1H24) $148.4m • Management fees and loan management fees of $100.1m, up +65% compared to 1H24 driven For personal use only Flat on pcp1 by businesses acquired, additional new net flows. Average fee margin 1.15% Total net income • Performa
Slide 16: Normalised profit or loss statement
Normalised profit or loss statement 1H25 vs 1H25 vs $m 1H241 2H241 1H251 1H24 2H24 FUM (including non-fee-earning) ($bn)2 12.3 18.0 17.7 +44% -2% Management fees up 65% on pcp driven by Average FUM (including non-fee-earning) ($bn)2 11.7 17.1 17.5 +49% +2% businesses acquired and additional flows Fo
Slide 17: Robust balance sheet
Robust balance sheet $m 30 Jun 2024 31 Dec 2024 30 Jun 2025 Cash and cash equivalents 78.1 52.2 57.7 For personal use only Trade and other receivables 87.2 60.7 90.7 $244.2m Investment in financial assets 134.5 120.8 108.4 Cash, receivables and fund investments (net of facility) Investment in other
Slide 18: RPL's performance fee-eligible FUM continues to grow & diversify
RPL’s performance fee-eligible FUM continues to grow & diversify RPL PERFORMANCE FEE-ELIGIBLE FUM ($M)1 For personal use only At or above HWM $15,000m 0-5% below HWM 5-10% below HWM 85% $12,000m 10-20% below HWM $13.7bn at or within 5% of >20% below HWM High-Water Mark 66% $9.1bn (HWM) $9,000m 61% $
Slide 19: Strong long-term net performance track record
Strong long-term net performance track record Capabilities Fund (as at 30 September 2025) Inception 1 year 3 years (p.a) 5 years (p.a) Since inception p.a.1 Brand2 Regal Tasman Market Neutral Fund 2007 16.5% 3.3% 11.2% 13.2% Regal Regal Australian Long Short Equity Fund 2009 15.1% 14.8% 14.1% 14.1%
Slide 20: $3.0bn in listed investment vehicles
$3.0bn in listed investment vehicles1 Represents ~15% of group FUM1 For personal use only RF1 VG1 RG8 PGF Multi-Strategy Alternatives Global L/S High Conviction Asian L/S High Conviction Global L/S Equities The Best of Regal Partners Group The Best of Regal Global Equities The Best of Regal Asian Eq
Slide 21: For personal use only
For personal use only 20