L1 Group Limited · ASX:L1G
L1 — Investor Presentation (October 2025)
21 slides from L1's investor presentation, Oct 29, 2025
Slide 1: Investor Presentation L1 Group Limited (ASX:L1G)
29 October 2025 The Manager ASX Market Announcements Australian Securities Exchange Limited Sydney NSW 2000 By e-Lodgement Investor Presentation L1 Group Limited (ASX:L1G) L1G encloses for release to the market an investor briefing providing an update on L1 Group Limited following completion of the
Slide 2: Introduction to L1 Group (ASX:L1G)
Introduction to L1 Group (ASX:L1G) October 2025
Slide 3: Introduction to L1 Group (ASX:L1G)
Introduction to L1 Group (ASX:L1G) L1G was formed through a merger between L1 Capital and Platinum Asset Management completed in October 2025 Merger priorities: One of Australia's most respected Pioneer of Global equities investing investment managers in Australia with strong brand recognition Deliv
Slide 4: L1G | Key metrics
L1G | Key metrics1 ASX:L1G $16.9 billion 5 ticker Funds Under Management (FUM)2 Locations globally $3 billion $262 million 1.1% L1 Capital net inflows (FY22-FY25) Total revenue3 Management fee margin4 $142.3 million 54% $96.0 million Underlying EBITDA5 Underlying EBITDA margin Underlying NPAT ("UNPA
Slide 5: L1G | Group themes
L1G | Group themes 1 4 • L1 Capital has delivered organic FUM growth • L1 Capital to apply step-change in Platinum’s of 30% p.a.1 since 2014 (pre-merger) Platinum investment and client service capabilities with a focus Capital-light • Track record of capital-light expansion integration on Platinum F
Slide 6: L1 Capital | Capital-light growth
1 L1 Capital | Capital-light growth L1 Capital has delivered organic FUM growth of 30% p.a. since 2014 (pre-merger) PTM merger (Oct 2025) $16.9b $9.4b Billions (A$) 9.0 International Fund converted to ETMF (ASX:L1IF) Catalyst Fund 6.0 launched International Fund Gold Fund U.K. Residential launched l
Slide 7: Major products | L1G funds and affiliates
1 Major products | L1G funds and affiliates Track record of capital-light expansion through the launch of new strategies and affiliates Long Short Fund (LSF) Asia Global Long Short Fund (GLSF) Gold Special Situations 20 19.0% p.a. 12.8% p.a. 19.0% 41.6% 94.6% 20.0% p.a. Owned funds net return S.I. (
Slide 8: Major products | Emerging funds
1 Major products | Emerging funds L1G will support the Emerging Platinum funds and optimise opportunities for future growth Japan Europe Brands Range of specialist, 12.5% p.a. 26.4% 10.3% p.a. 13.5% 10.8% p.a. 13.4% sector-focused funds net return S.I.1 net return last 12m1 net return S.I.2 net retu
Slide 9: L1G | Four growth pathways
2 L1G | Four growth pathways Growth of existing funds through Joint Ventures – attracting talented new performance and flows teams to launch new products Example: L1 Long Short Fund Example: L1 Global Opportunities Fund L1 International Fund L1 Catalyst Fund L1 UK Residential Fund Extension strategi
Slide 10: L1G | Growth pathways
2 L1G | Growth pathways Demonstrated track record of success launching new funds – owned & affiliate 6,000 5,574 L1 International including PTM Emerging funds include: 5,031 Platinum 5,000 International • Japan • Europe • Brands 4,000 • Health Sciences • Technology • GW&K FuM ($m) 3,000 Recently lau
Slide 11: Diversified client profile
3 Diversified client profile Extremely diversified client base across retail, listed investment companies, high net worth, wholesale and staff with – 92% of revenue is derived from non-institutional clients FUM by asset class FUM by client type Revenue by client type Direct property Multi-Strategy H
Slide 12: Platinum integration approach | FUM stabilisation
4 Platinum integration approach | FUM stabilisation Focus on a positive step-change in investment capabilities and Platinum FUM stabilisation Platinum International Fund transition Emerging Funds • Platinum Int. represents $4.3 billion of FUM • Japan • Health Sciences Platinum FUM • Management of po
Slide 13: Platinum Integration benefits | Illustrative pro-forma synergies
4 Platinum Integration benefits | Illustrative pro-forma synergies Assuming target cost savings had been fully realised in FY25, pro-forma operating expenses would be circa $93m L1 Group FY25A pro-forma operating expenses and illustrative synergies impact L1 Capital Platinum L1 Group Announced cost
Slide 14: Pro-forma financial performance and illustrative margins
5 Pro-forma financial performance and illustrative margins L1 Group demonstrates strong profitability, with Underlying EBITDA margin increasing to 65% pro-forma for run- rate synergies and cost savings | Underlying EBITDA | UNPAT FY25A pro-forma incl run-rate FY25A pro-forma incl run-rate FY25A pro-
Slide 15: Shareholder and fund investor alignment
6 Shareholder and fund investor alignment L1 Capital founders are strongly aligned with shareholders and heavily co-invested alongside L1 Capital fund investors Significant founder Commitment to Long escrow shareholding best-in-class Governance period for founder shareholdings • ~74% of L1G shares h
Slide 16: L1G | Outlook and focus
L1G | Outlook and focus Capital-light growth Integration of Platinum • Track record of capital-light growth through the launch of • Investing in high calibre talent to bolster Platinum new strategies and affiliates investment capabilities and stabilise FUM • Inundated with enquiries from leading dom
Slide 17: Appendix A | L1G financial profile
A Appendix A | L1G financial profile Introduction to L1 Group (ASX:L1G) 16
Slide 18: L1G | Pro-forma P&L (FY25A) | Management view
L1G | Pro-forma P&L (FY25A) | Management view $ million FY25 Management fees 208.7 Overview of pro-forma P&L (FY25A) | Management view Performance fees A 45.1 A• Total "In-Perimeter Performance Fees" attributable to L1G $ million FY25A Affiliate income B 0.5 are presented on a ‘look-through’ basis,
Slide 19: L1G | Pro-forma balance sheet (FY25A)
L1G | Pro-forma balance sheet (FY25A) Merged Overview of pro-forma balance sheet (FY25A) Net Cash and Seed Investments $ million Group FY25A Cash & Cash Equivalents 46.4 A • Cash balance includes c.$20m of regulatory capital required to Cash and cash equivalents A 46.4 satisfy AFSL requirements Addb
Slide 20: Important information
Important information General Disclaimer This communication has been prepared by L1 Group Limited (“L1 Group”) (ABN 13 050 064 287) (ASX:L1G). References in this presentation to L1 Group or L1G are to L1 Group Limited. References in this presentation to L1 Capital are to L1 Capital Pty Ltd ABN 21 12
Slide 21: Please contact us with any questions.
Please contact us with any questions. Level 45, 101 Collins Street, Melbourne VIC 3000 Phone +61 3 9286 7000 Web www.L1Group.com.au ABN 21 125 378 145 | AFSL 314302