Slide 1: 2025 Full Year Results
2025 Full Year Results 4 March 2026
Slide 2: Disclaimer
Disclaimer This presentation should be read in conjunction with the announcement published by Quilter plc on 4 March 2026. This presentation may contain forward-looking statements with respect to certain Quilter plc’s plans and its current goals and expectations relating to its future financial cond
Slide 3: Our three key areas of focus: Introduction
Our three key areas of focus Steven Levin Chief Executive Officer Introduction Building Distribution Building Distribution Driving efficiency Increase the number of advisers Be more responsive to customers Modernise our process by investing driving flows into our investment and the market, continue
Slide 4: Year in review
Our three key areas of focus Year in review Building Distribution Building Distribution Driving efficiency Increase the number of advisers Be more responsive to customers Modernise our process by investing driving flows into our investment and the market, continue to in new technology and removing s
Slide 5: Key figures 2025: strong results
Key figures 2025: strong results Highlights FY 2025: Adjusted Core net inflows Operating margin Adjusted PBT FY Dividend diluted EPS £9.1bn 30% £207m 11.0p 6.3p +75% y-o-y +1 ppt +6% y-o-y +4% y-o-y +7% y-o-y 5
Slide 6: Strong flows
Strong flows Core gross inflows1 Core gross outflows1 Core net inflows1 £bn £bn £bn 12 12 10 11 10.6 11 9 10 9.4 10 Annualised net 8 3% 6% 8% 7% inflows/ 9 8.6 2.7 opening AuMA2 9 8 7.4 2.5 7 8 2.4 171% 7 7 6 2.4 5.7 6.0 6 6 5 4.5 4.6 5.1 4.9 1.0 5 5 1.1 0.9 0.8 4 3.5 1.6 1.7 4 8.0 4 7.1 3 1.5 3 6.4
Slide 7: Strategic progress
Strategic progress Flows Building for scale Grow distribution Enhancing propositions Be future fit Outperforming 4-5% net inflow target. WealthSelect on six third party platforms. Launched Smooth funds in partnership with Higher adviser productivity at £3.4m, +6%. Affluent Standard Life. £
Slide 8: Business review
Our three key areas of focus Business review Building Distribution Building Distribution Driving efficiency Increase the number of advisers Be more responsive to customers Modernise our process by investing driving flows into our investment and the market, continue to in new technology and removing
Slide 9: Quilter: The UK's largest adviser Platform
Quilter: The UK’s largest adviser Platform Improving productivity, increasing market share and a growing market driving Quilter’s momentum Quilter Platform peer CY25 flow and AuMA comparison1 20 18 Quilter 16 Platform 14 CY 2025 gross sales (£bn) 12 Nucleus Transact 10 Aviva 8 AJ Bell Aberdeen Fidel
Slide 10: Platform net flows: broaden & deepen strategy delivering material growth
Platform net flows: broaden & deepen strategy delivering material growth Platform net flows, Quilter channel: 2024 vs 2025 Platform net flows, IFA channel: 2024 vs 2025 £bn £bn 9% net flows/opening AuA +92% y-o-y 6 6 5 5 4 4 18% net flows/opening AuA +12% y-o-y 3 3 2 2 1 1 0 0 Jan Feb Mar Apr May Ju
Slide 11: Distribution
Distribution Reduced leakage driving more flows to Platform Restricted advisers strategically aligned 100+ Financial Gross flows from Quilter Advisers onto Quilter Platform (£m) Adviser Academy Number of RFPs and RFP productivity (£m) graduates 4,500 2,100 4.0 RFP numbers Productivity 4,000 1,900 3.
Slide 12: Building our distribution
Building our distribution 1 Building the advice business of tomorrow ATP/Strategic advice technology roll-out commenced, providing AI-enabled productivity tools. Quilter Partners aligned assets increased from c.£0.7bn in 2023 to c.£2.5bn in 2025. 2 Recruiting the advisers of tomorrow Adviser r
Slide 13: Quilter managed: driving up share of administered and managed
Quilter managed: driving up share of administered and managed Largest and fastest growing MPS provider WealthSelect AuMA 2.0 £bn 3.8 2.9 0.7 Affluent AuMA, of which managed by Quilter Passive/ 15.1 9.3 £bn Blend 5.7 FY23 Net flows Markets FY24 Net flows Markets FY25 2025 1.0 2023 0.7 0.3 0.2 2.4 Act
Slide 14: High Net Worth: competitively positioned, growth focused
High Net Worth: competitively positioned, growth focused High Net Worth peer FY25 net flow comparison Quilter Cheviot net flows: Quilter channel (£bn)1 £bn 0.5 Annualised net +2% inflows/ 0.4 opening AuMA 1.0 0.3 0.5 0.2 0.1 0.0 0.0 -0.5 (1)% H1'22 H2'22 H1'23 H2'23 H1'24 H2'24 H1'25 H2'25 -1.0 Quil
Slide 15: High Net Worth: delivering a high-performance business
High Net Worth: delivering a high-performance business Building on solid foundations, focusing on execution and growing capacity Distribution Proposition Be future fit Direct authorisation for Integrated advice and Leveraging MPS opportunities QC Financial Planning investment model Realigning and gr
Slide 16: High Net Worth: building on solid foundations, focusing on execution & growing capacity
High Net Worth: building on solid foundations, focusing on execution & growing capacity Aiming to deliver mid-single digit net flow growth and mid-20s operating margin Our ambition Our focus Our goal Improve digital capabilities Enhanced experience, tailored to client and Enhance client and intermed
Slide 17: Mark Satchel, Chief Financial Officer
Our three key areas of focus Mark Satchel Chief Financial Officer Introduction Building Distribution Building Distribution Driving efficiency Increase the number of advisers Be more responsive to customers Modernise our process by investing driving flows into our investment and the market, continue
Slide 18: 2025 results: good delivery
2025 results: good delivery Continued cost Adjusted profit Operating margin Remain well Revenue growth discipline before tax progress capitalised 200%² £701m¹ £494m £207m 30% Solvency II +5% y-o-y +4% y-o-y +6% y-o-y +1 ppt (19 ppts) 1. 42bps revenue margin, 2. After payment of (2bps) y-o-y. Recomme
Slide 19: Consistent strong performance
Consistent strong performance Core net inflows Average AuMA Revenue¹ £bn £bn – Reported basis £m 44 42 Revenue margin (bps) +5% +75% +14% 701 670 Investment revenue: (11%) 63 71 100 Other revenue: +3% 128.6 97 9.1 113.2 502 538 Net management fee: +7% 5.2 FY 2024 FY 2025 FY 2024 FY 2025 FY 2024 FY 2
Slide 20: Revenue margins tracking in line with expectations
Revenue margins tracking in line with expectations High Net Worth Affluent Managed Managed Administered Revenue margin progression Revenue margin progression Revenue margin progression bps bps bps 70 67 FY revenue margin 71 69 67 66 35 FY revenue 36 margin FY revenue 25 23 37 margin 36 35 35 25 25 2
Slide 21: Segment revenues: revenue momentum offsetting lower interest rates
Segment revenues: revenue momentum offsetting lower interest rates High Net Worth Affluent 2025 2025 revenues1 revenues1 +3% £455m +7% £233m Y-o-Y Y-o-Y 67bps IM fee 23bps Platform fee £216m £203m £94bn £31bn 35bps management fee £119m Share of fees2,3 £34bn £31bn £73m c.65bps advice fee £4bn £22m I
Slide 22: Costs: efficiency supporting capacity to invest and grow
Costs: efficiency supporting capacity to invest and grow As a Cost analysis 2026 guidance: (£m) percentage of 2025 expense progression base from which revenues £m to add inflation FY FY FY FY 2025 2024 2025 2024 Support staff costs 111 110 6 (18) 19 19 3 (9) 494 Operations 18 20 474 Technology 34 31
Slide 23: Transformation: £160+ million saved, operational leverage & improved client experience
Transformation: £160+ million saved, operational leverage & improved client experience Optimisation: 2018-2021, £65m delivered savings Simplification phases 1 and 2 savings¹ Closer business integration, synergies in central support. Rationalised technology and data centres. 3% 10% Simplification
Slide 24: Segment financials: year-on-year growth driven by Affluent segment
Segment financials: year-on-year growth driven by Affluent segment High Net Worth Affluent Group Adjusted profit Total net revenues before tax Total net revenues £233m £455m £47m (2)% Y-o-Y Operating expenses Operating expenses £207m1 £186m £286m +14% £169m Y-o-Y Adjusted profit before tax Adjusted
Slide 25: Strong solvency ratio and robust cash position
Strong solvency ratio and robust cash position Solvency II ratio 2% 9% (8%) (10%) (12%) Strong Solvency II ratio. 219% 212% 200% Positive contribution from IFRS Profit. Regulatory Acquisition, Ongoing Advice IFRS Profit, market Dividends Pro forma Share buyback Pro forma solvency transformation
Slide 26: Dividend and capital distribution policy evolution
Dividend and capital distribution policy evolution FY 2025 distribution Current policy: 50 – 70% pay-out range from post tax, post- 11.0p interest adjusted profit. 2025: c.60% pay-out: 6.3 pence per share. 6.3p £85m Dividend cost c.£85m. +7% EPS DPS Dividend 26
Slide 27: Future capital allocation approach
Future capital allocation approach Adjusted profit after tax and interest Summary From FY 2026 onwards: Quilter will distribute c.70% of post-tax, post-interest adjusted profit to shareholders. The Board expects, in normal circumstances: c.70% Shareholder distributions. progressive growth in
Slide 28: Dividend and capital distribution policy evolution
Dividend and capital distribution policy evolution Future distributions Capital review: surplus capital of c.£100 million will be FY 2026 FY: 2027 and future returned to shareholders through a share buyback, with completion anticipated prior to end-2026. £100m >£85m Progressive Dividend growth i
Slide 29: Guidance
Guidance March 2025 guidance Changes Net flows Net flows of 4-5% of opening AuMA on average, through the cycle. Unchanged. Mix shift reducing High Net Worth margin by c.1bp per annum. Revenue Affluent managed assets – low to mid 30 bps, mix dependent. Unchanged. margins Affluent administ
Slide 30: Growth priorities
Our three key areas of focus Growth priorities Building Distribution Building Distribution Driving efficiency Increase the number of advisers Be more responsive to customers Modernise our process by investing driving flows into our investment and the market, continue to in new technology and removin
Slide 31: The opportunity for Quilter
The opportunity for Quilter A high growth market, supporting higher Platform and Solutions flows Quilter’s current and future opportunity set: Advised market key drivers: Advised market1 “The Advice Gap”1 Complexity of UK tax rules continues to drive demand for Quilter’s advice, especially from ‘B
Slide 32: Becoming a customer champion: expanding access to quality advice
Becoming a customer champion: expanding access to quality advice “The Advice Gap” Government drive to get more people investing. Quilter’s current & future addressable “The Advice Gap” Advised markets Advice Guidance Boundary Review (“AGBR”) Recommendation Personalised recommendation boundary bounda
Slide 33: Why customers seek advice?
Why customers seek advice? Value proposition built on trust, confidently helping make decisions and remaining on track to achieve them Trust and empathy Complex planning areas and specialisation Intergenerational wealth, divorce or legacy planning Personal, long-term accountable partner Asset rich/t
Slide 34: Key levers of success: Technology, Brand
Key levers of success Technology Brand 34
Slide 35: Advisers recognise the opportunity from AI tools
Advisers recognise the opportunity from AI tools 33% 56% 49% Only one third of an More than half of Nearly half believe AI adviser’s time is advisers cite will have a positive currently spent with administrative burden impact on their day-to- clients. is their top challenge. day workload, freeing up
Slide 36: Augmenting our proposition with technology and innovation
Augmenting our proposition with technology and innovation Indicative improvement in productivity Innovative adviser technology: Multi-year investment. Proprietary back-office advice technology, fully integrated with Platform, removing need for separate systems. Gross sales per Quilter adviser
Slide 37: How Quilter is harnessing AI to drive the business faster
How Quilter is harnessing AI to drive the business faster AI tools can improve speed, consistency and quality Enhancing productivity Improving client and Operational and process and reducing friction adviser engagement redesign Reduces manual work, Improves personalisation, Introduces new ways
Slide 38: Raising brand awareness and external appreciation of Quilter's values
Raising brand awareness and external appreciation of Quilter’s values 41 million + 45 % + 5 % Fans tuned in live across the globe Increase in enquiries Unprompted brand to watch the Quilter Nations from website. awareness y-o-y. Series across 21 matches. 38
Slide 39: Business growth drivers
Business growth drivers Goal Levers Grow IFA market share. Maintain our position as the UK’s Increase RFP numbers & productivity Platform largest, fastest growing adviser through CRM tools and AI support. Platform. Quilter Invest and Targeted Support. Sustainable growth. Recognition as leading
Slide 40: Quilter: delivering today and tomorrow
Quilter: delivering today and tomorrow Large fragmented market with structural growth Quilter generates growth through: Market leading distribution Compelling propositions, scalable businesses Quilter Channel Largest and fastest growing scaled UK platform IFA Channel UK’s leading MPS provider New di
Slide 41: Q&A
Q&A Our three key areas of focus Building Distribution Building Distribution Driving efficiency Increase the number of advisers Be more responsive to customers Modernise our process by investing driving flows into our investment and the market, continue to in new technology and removing solutions an
Slide 42: Appendix
Appendix Quilter
Slide 43: Quilter: Outperforming High Net Worth and Platform peers for FY flows
Quilter: Outperforming High Net Worth and Platform peers for FY flows FY 2025 Quilter core net flows vs Listed peers by channel High Net Worth Platform Annualised net (£m)1 (£m)2 inflows/ +10% opening Assets 10,000 +3% +3% +8% 8,000 +2% Annualised net 6,000 +7% inflows/ 1,000 opening AuMA 4,000 500
Slide 44: Quilter outperforms the market
Quilter outperforms the market Industry advised platform flows and AuA¹ Quilter Platform flows and AuA £m £m 800,000 30,000 120,000 5,000 4,500 700,000 25,000 100,000 4,000 600,000 3,500 20,000 80,000 500,000 3,000 400,000 15,000 60,000 2,500 2,000 300,000 10,000 40,000 1,500 200,000 1,000 5,000 20,
Slide 45: Flows: maintaining strong momentum
Flows: maintaining strong momentum Core gross inflows1 Core gross outflows1 Core net inflows1 £bn £bn £bn 6 Annualised net 6 6 8% 8% 7% 7% inflows/ opening AuMA2 5 5 5 4 4 4 3 3 3 5.6 4.9 4.9 4.6 4.5 2 3.8 4.0 2 2 3.6 2.9 3.2 2.8 2.6 2.5 2.7 2.6 1 1 2.3 1 2.3 2.2 2.2 2.4 2.0 1.5 0.8 0.9 0 0 0 Q1 Q2
Slide 46: MPS on Platform: Quilter an industry leader
MPS on Platform: Quilter an industry leader MPS AuMA1 +46% £bn 26 Q3 2024 Q3 2025 Q4 2025 25.4 24 22.9 23.3 22 20 17.6 17.4 18 16 14 12 11.2 10.7 10 9.3 9.4 8.28.5 7.6 7.2 8 6.3 6.5 6 5.1 5.3 4.6 4.0 3.5 4 2.5 2 0 Titan 7IM Omnis Brooks LGT Wealth RBC BD Parmenion Timeline Tatton IM Quilter Macdonal
Slide 47: Principal Platform solutions: now rebased towards MPS and Blend/Passive
Principal Platform solutions: now rebased towards MPS and Blend/Passive Fund of funds solutions Managed portfolio solutions AuMA £m AuMA £m 20,000 25,000 20,000 CAGR 15,000 +27% CAGR -3% CAGR CAGR +45% 15,000 10,000 -20% 10,000 5,000 5,000 +10% +16% 0 0 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 202
Slide 48: Quilter Investors: investment performance
Quilter Investors: investment performance As at 31 December 2025 Since Fund Range Fund vs IA Sector Comparator 1Y 3Y 5Y 10Y Inception¹ WealthSelect Managed Active 3 1 1 1 1 1 WealthSelect Managed Active 4 2 2 2 2 1 Investment performance WealthSelect Managed Active 5 1 1 1 1 1 WealthSelect managed
Slide 49: High Net Worth: investment performance
High Net Worth: investment performance Investment Performance Highlights 31 December 2025 Cumulative Return 1 Year 3 Year 5 Year ARC PCI High Net Worth investment performance has been strong. Steady Quilter Cheviot PCI 11.07% 30.58% 28.14% Discretionary client portfolios have outperformed the AR
Slide 50: Guidance
Guidance The Quilter financial medium-term model in ‘normal’ markets Net flows/opening AuMA c.+5% Market movements c.+5% Average AuMA c.+10% ‘Expected’ margin attrition Revenues Mid to high single digit % Costs Positive jaws Steady compounding of earnings at a high single digit to mid-teens rate ove