Impax Asset Management Group Plc · LSE:IPX
Impax Asset Management — H1 2026 Earnings Presentation
88 slides from Impax Asset Management's earnings presentation, May 20, 2026
Slide 1: Interim results for the six months to 31 March 2026
Interim results for the six months to 31 March 2026 20 May 2026 FOR INFORMATION ONLY. THIS IS NOT A MARKETING COMMUNICATION. NOT FOR FURTHER DISTRIBUTION.
Slide 2: Agenda
Agenda 1 Highlights and business update 2 Financial update 3 Outlook 4 Appendices 2
Slide 3: Why Impax?
Why Impax? Compelling Global player Scalable investment with specialist business opportunity focus model Established client bases in the EU, Scale in listed equities Economic transition: North America & Asia mispricing of growth & risk Strong foundations in fixed income Politics deterring many compe
Slide 4: Business highlights
Business highlights • Fundamentals supporting our specialist focus continue to strengthen • Stronger investment performance – 70% of AUM outperforming benchmarks CYTD1 • Previous underperformance in ‘narrow’ equity markets still driving net outflows • Continued focus on product diversification & bui
Slide 5: Key Performance Indicators
Key Performance Indicators1 Revenue Adjusted operating Dividend per share4 £58.8m profit1,2 2.0p FY 2025: £141.9m H1 2025: £76.5m £11.3m FY 2025: 12.0p H1 2025: 4.0p H2 2025: £65.4m FY 2025: £33.6 H2 2025: 8.0p H1 2025: £20.5m H2 2025: £13.1m Adjusted operating Adjusted diluted Cash reserves margin2
Slide 6: Breakdown of AUM movement (£bn)
Breakdown of AUM movement (£bn) 25.3 2.4 26.1 1.1 (5.1) (5.1) 2.4 1.4 22.3 (0.1) 1 31/03/2025 Outflows Inflows Acquired Market 30/09/2025 Outflows Inflows Market 31/03/2026 assets movement movement 6 As at 31 March 2026, assets under advice represent ~3% of total AUM. 1 Acquired assets refers to SKY
Slide 7: Listed equities: thematic strategies outperforming in 2026
Listed equities: thematic strategies outperforming in 2026 Largest strategy performance versus benchmark (GBP, annualised, %)1 Past performance does not predict future returns Water AUM £4.9bn2 Leaders AUM £4.4bn2,3 19.6 19.6 16.3 15.3 13.9 15.3 13.9 11.0 9.7 7.9 6.2 7.1 5.6 7.2 5.6 2.4 4 (8.1) 4 (8
Slide 8: Fixed income: competitive investment performance in most areas
Fixed income: competitive investment performance in most areas Largest strategy performance versus benchmark (GBP, annualised, %)1 Past performance does not predict future returns Global High Yield AUM £0.2bn2 Core Bond AUM £0.6bn2 11.7 12.5 11.9 9.1 8.4 8.9 3.9 3.1 1.4 1.3 0.1 (0.7) (0.2) (0.1) (0.
Slide 9: Well-diversified AUM and revenue
Well-diversified AUM and revenue AUM by range AUM by region1 Revenue by product type2 35% 56% Active 62% North Own label Equities: America funds Thematic 67% 36% 49% Active 14% Equities: 58% 26% BNPP mutual Core 17% EMEA funds 56% 24% Systematic 10% Equities 7% 7% Sub-advised 10% UK and advisory 7%
Slide 10: Markets: more supportive backdrop for our strategies
Markets: more supportive backdrop for our strategies 10 Sources: Financial Times, 3 May 2026 and 20 March 2026; Wall St Journal, 18 January 2026 and 6 January 2026; Bloomberg, 12 May 2026 and 8 May 2026.
Slide 11: Portfolios already positioned to benefit from these drivers
Portfolios already positioned to benefit from these drivers Weight of ‘Leaders’ strategy exposure by Energy security & AI infrastructure Environmental Markets sector (%)1 efficiency build-out Alternative Energy 2% Energy • Energy generation • Energy generation • Power storage • Power storage Energy
Slide 12: Movement in net flows - by channel (£m)
Movement in net flows - by channel (£m) 1 Funds sub-managed for UK/Ireland North America BNP Paribas Asset Management (624) 2 (427) Own label: UCITS range Own label (235) (335) (28) (953) (124) 3 IEM plc Sub-advised & advisory BNP (121) (121) (1,200) (176) (537) Segregated accounts Segregated (527)
Slide 13: Movement in net flows - by channel (£m)
Movement in net flows - by channel (£m) Other EMEA distributors/funds Asia-Pacific (89) Own label: SICAV range (21) 0 Own label (12) (502) Sub-advised & advisory (364) (152) Segregated (15) accounts Segregated accounts (1,066) 73 ■ H1 2026 ■ H1 2025 13 All data as at 31 March 2026.
Slide 14: Our strategy
Our strategy 14
Slide 15: Strategic drivers: A sustainable model that responds to clients' needs
Strategic drivers: A sustainable model that responds to clients’ needs Organically Build scale in Grow grow listed fixed income private equity equities Deepen client Refine our Enhance partnerships and efficient, agile distribution strengthen brand and scalable channels differentiation operating mod
Slide 16: Investments: improving performance, growing capabilities
Investments: improving performance, growing capabilities Listed equities Fixed income Private markets • Focus on enhancing • Brand differentiation: • Fund III: 58% exited to date1 investment process and integrating sustainability team organisation into credit analysis • Fund IV: 77% committed capita
Slide 17: Clients: improving engagement, building partnerships
Clients: improving engagement, building partnerships Market opportunity for a differentiated offering • Asset owners globally value broad access to a specialist ‘sustainability-focused’ manager • Thought leadership research & policy advocacy enhance offering to clients Cultivating new third-party re
Slide 18: Extending an agile & scalable operating model
Extending an agile & scalable operating model Talent Efficiency and technology • Impax’s mission and values attractive to • Expect to remove ca. 30 roles (ca. 11% of targeted external talent total) during second half of financial year1 • High staff retention relative to peers: • No reduction in capa
Slide 19: Financial update
Financial update 19
Slide 20: Financial performance
Financial performance Financial highlights (£) Adjusted 11.3 • Adjusted operating profit of £11.3m (H1 25 £20.5m) operating 13.1 profit (£m)¹ 20.5 Adjusted • Adjusted diluted EPS 7.4p (H1 25 12.6p) diluted earnings 7.4 8.7 per share (pence) 12.6 • Well diversified revenue of £58.8m (H1 25 £76.5m) Re
Slide 21: Revenue performance
Revenue performance Revenue (£m) Average fee margin (bps) Avg. 49.2 AUM £bn 25.9 24.7 47.9 47.3 76.5 65.4 2.8 58.8 (7.3) (2.1) H1 2025 H2 2025 Net flows Market Private equity H1 2026 H1 2025 H2 2025 H1 2026 movement fees and other Mar-26 Mar-26 run-rate run rate: margin: £107.7m 48.3 bp1 21
Slide 22: Active cost management
Active cost management Adjusted operating expenses (£m) Total staff (Period end) 55.9 52.3 Mar-26 23 56 78 111 269 47.5 Non-Staff Non-staff (1.4) (1.2) 18.8 275 18.5 (2.2) Non-Staff Sep-25 23 60 82 111 17.1 Mar-25 18 68 94 116 296 Staff Fixed Income Listed Equity Investment Staff Staff 37.1 Client G
Slide 23: Healthy cash balance, dividend reset at a sustainable level
Healthy cash balance, dividend reset at a sustainable level Cash movements (£m)1 Dividend (pence per share) 64.7 (3.8) 60.3 (9.9) 2026 2.0 (6.5) 1.6 46.0 2025 4.0 8.0 12.0 2024 4.7 22.9 27.6 H1 2025 H2 2025 Cash Dividends Acquisition Other cash H1 2026 decrease paid of own movements Interim Final fr
Slide 24: Strong capital position maintained with no debt
Strong capital position maintained with no debt Shareholder equity (£m) Capital update • £10m Buyback completed Dec 25 116.6 115.2 106.1 • Healthy capital surplus maintained • £16.8m seed capital; to fall in H2 63.1 53.9 53.7 9.9 Capital allocation priorities 5.2 2.8 22.6 22.6 22.6 • Financial resil
Slide 25: Outlook
Outlook 25
Slide 26: Outlook
Outlook • High asset owner demand globally for a sustainability-focused specialist manager • Opportunity to amplify sales/marketing given strongly-improved performance • Short term, markets buoyant, although net outflows may continue for a period as clients monitor investment performance improvement
Slide 27: Appendices
Appendices 27
Slide 28: Adjusted IFRS performance measures
Adjusted IFRS performance measures As a result of the acquisitions, certain financial IFRS PBT to adjusted PBT (£m) performance measures have been prepared on an adjusted basis. ‘Adjusted’ financial metrics Adjusted PBT 12.1 are shown after removing the effects of primarily: Foreign Exchange (0.1) •
Slide 29: Share management
Share management Buyback programme Employee Benefit Trust (EBT) IPX shares in issue (m) • Regular EBT share purchases reinstated following the As at the beginning of the buyback programme completion of the share buyback programme – 55k ordinary (22 May 2025) 132.6 shares purchased in the period, at
Slide 30: Share awards and seed investments
Share awards and seed investments Share awards outstanding1 Awards Number outstanding Vesting date End of exercise period RSS (Purchased in EBT) 2,336,448 2026–2029 RSP (New scheme – not purchased) 3,237,309 2028 - 2030 LTOP 4,346,236 2029–2036 Total 9,919,993 Seed investments Theme Sep 2025 (£m) Ma
Slide 31: Continued revenue diversification
Continued revenue diversification Revenue by range Revenue by strategy1 ■ Leaders 23% ■ Intl Sust Economy 5% Thematic Equities H1 2026:58% H1 2025: 60% ■ Water 15% ■ Global Women’s 2% H1 2026: 17% ■ Specialists 11% Leadership Core Equities H1 2025: 23% ■ Climate 6% ■ US Sustainable 2% H1 2026: 9% Ec
Slide 32: Background to the Company
Background to the Company 32
Slide 33: Impax Asset Management
Impax Asset Management Overview £22.3bn AUM Listed equities, fixed income & private markets Specialist asset manager, over 25 years’ experience Approx. 90 investment team members1 Offices in UK, US, Hong Kong, Ireland, Japan, Denmark and Germany Global distribution & partnership approach with client
Slide 34: A global economy in transition, despite the political noise
A global economy in transition, despite the political noise • Resource/environmental constraints • Impacting all sectors • Regulation • Varying pace and scale of • Technology change transformation • Evolving consumer/social • Focused research can factors expose inefficiency 34
Slide 35: Impax capabilities
Impax capabilities Investment platform aligned with the transition to a more sustainable economy £17.1bn £2.3bn £2.3bn £1.7bn £641m Source: Impax as of 31 March 2026. Dates noted above reflect inception of GIPS Composite for each strategy. Please note that some vehicles may have longer track records
Slide 36: Assets under management growth since inception
Assets under management growth since inception Assets under management (£m) 1998 15 1999 20 2000 39 2001 38 2002 55 2003 66 2004 69 2005 214 2006 429 2007 982 2008 1,099 2009 1,265 2010 1,823 2011 1,896 2012 1,828 2013 2,197 2014 2,755 2015 2,823 2016 4,502 2017 7,261 2018 12,515 2019 15,051 2020 20
Slide 37: Investment performance
Investment performance 37
Slide 38: Active Equities: Thematic
Active Equities: Thematic Performance versus benchmark (cumulative, %)1 Past performance does not predict future returns Water AUM £4.9bn Leaders AUM £4.4bn2 Specialists AUM £1.5bn Water MSCI ACWI³ Leaders MSCI ACWI³ Specialists MSCI ACWI³ 64.6 64.6 48.6 64.6 48.6 35.0 48.6 44.5 21.5 12.917.5 22.1 2
Slide 39: Active Equities: Core
Active Equities: Core Performance versus benchmark (cumulative, %)1 Past performance does not predict future returns Global Opportunities AUM £1.6bn US Small Cap AUM £0.6bn US Large Cap AUM £0.4bn Global Opportunities US Small Cap US Large Cap 4 MSCI ACWI² Russell 2000 3 S&P 500 84.9 64.6 48.6 55.3
Slide 40: Systematic Equities
Systematic Equities Performance versus benchmark (cumulative, %)1 Past performance does not predict future returns Intl Sustainable Economy AUM £1.2bn US Sustainable Economy AUM £0.6bn Intl Sustainable Economy US Sustainable 2 MSCI EAFE 53.2 53.1 Economy 77.0 79.0 3 39.937.5 Russell 1000 54.6 46.4 1
Slide 41: Fixed income
Fixed income Performance versus benchmark (cumulative, %)1 Past performance does not predict future returns US Short Duration High Yield 2 AUM £0.8bn Core Bond AUM £0.6bn High Yield AUM £0.4bn High Yield US Short Duration High Yield Core Bond Bloomberg US Aggregate3 ICE BB-B US High Yield Constraine
Slide 42: Asian Environmental strategy: GIPS report– US$
Asian Environmental strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description MSCI AC AP 3yr The Asian Environmental Composite contains long only Total Firm Composite Number of Annual Gross Annual Net MSCI AC AP Asset Weighted 3yr Annualized Annualized Std ac
Slide 43: Asian Environmental cont.
Asian Environmental strategy: GIPS report– US$ cont. Firm Information under management, including those accounts no longer with the firm. Composite performance portrayed reflect the reinvestment of dividends, capital gains, and other earnings when Impax Asset Management is defined as Impax Asset Man
Slide 44: Core Bond strategy: GIPS report– US$
Core Bond strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description Bloomberg US Total Firm Bloomberg US Aggregate 3yr The Core Bond Composite seeks to generate income consistent Assets Composite Number of Annual Gross Annual Net Aggregate Asset Weighted 3yr
Slide 45: Core Bond cont.
Core Bond strategy: GIPS report– US$ cont. Firm Information Impax Asset Management uses a model fee, which is the maximum applicable fee, for the computation of composite net-of-fee returns. Since March 2015 net of fee performance was Impax Asset Management is defined as Impax Asset Management Ltd,
Slide 46: Climate strategy: GIPS report– US$
Climate strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description Annual Benchmark 3yr The Climate Composite contains long only accounts, which Total Firm Composite Number of Annual Gross Annual Net Benchmark Asset Weighted 3yr Annualized Annualized Std inves
Slide 47: Climate cont.
Climate strategy: GIPS report– US$ cont. Firm Information amendment was applied retroactively to more accurately reflect the composite performance. Impax Asset Management is defined as Impax Asset Management Ltd, Impax Asset Management Fees and Expenses (AIFM) Ltd., Impax Asset Management Ireland Lt
Slide 48: Core Plus Bond strategy: GIPS report– US$
Core Plus Bond strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description Bloomberg US Bloomberg US Aggregate 3yr The Core Plus Bond Composite primarily invests in impact bonds, Total Firm Composite Number of Annual Gross Annual Net Aggregate Asset Weighted 3y
Slide 49: Core Plus Bond cont.
Core Plus Bond strategy: GIPS report– US$ cont. Firm Information Fees and Expenses Impax Asset Management is defined as Impax Asset Management Ltd, Impax Asset Management Impax Asset Management uses a model fee, which is the maximum applicable fee, for the (AIFM) Ltd., Impax Asset Management Ireland
Slide 50: EM Corporate Bond strategy: GIPS report– US$
EM Corporate Bond strategy: GIPS report– US$ Past performance does not predict future returns. JP Morgan Composite Description CEMBI Broad Diversified The Emerging Markets Corporate Bond Strategy seeks to Total Firm Annual Gross Annual Net Index (USD MSCI EAFE 3yr generate long term capital growth a
Slide 51: EM Corporate Bond cont.
EM Corporate Bond strategy: GIPS report– US$ cont. Firm Information This performance report should not be construed as a recommendation to purchase or sell any particular securities held in composite accounts. Market conditions can vary widely over time Impax Asset Management is defined as Impax Ass
Slide 52: Sustainable Food strategy: GIPS report– US$
Sustainable Food strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description Annual Benchmark 3yr The Sustainable Food Composite contains long only Total Firm Composite Number of Annual Gross Annual Net Benchmark Asset Weighted 3yr Annualized Annualized Std acc
Slide 53: Sustainable Food cont.
Sustainable Food strategy: GIPS report– US$ cont. Firm Information net of foreign withholding taxes on dividends, interest income and capital gains. Starting March 2015, the benchmark performance presented was changed from gross of withholding taxes to Impax Asset Management is defined as Impax Asse
Slide 54: Global Emerging Markets Opportunities strategy: GIPS report– US$
Global Emerging Markets Opportunities strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description MSCI EM 3yr The Global Emerging Markets Opportunities Strategy Total Firm Composite Number of Annual Gross Annual Net MSCI EM Asset Weighted 3yr Annualized Annuali
Slide 55: Global Emerging Markets Opportunities cont.
Global Emerging Markets Opportunities strategy: GIPS report– US$ cont. Firm Information presented net of foreign withholding taxes on dividends, interest income and capital gains. Impax Asset Management is defined as Impax Asset Management Ltd, Impax Asset Management Fees and Expenses (AIFM) Ltd., I
Slide 56: Global High Yield Bond strategy: GIPS report– US$
Global High Yield Bond strategy: GIPS report– US$ Past performance does not predict future returns. ICE BofA Global Composite Description ICE BofA Global High Yield Index Total Firm Annual Gross Annual Net High Yield Index (USD Hedged) The Global High Yield Bond Strategy seeks to generate Assets Com
Slide 57: Global High Yield Bond cont.
Global High Yield Bond strategy: GIPS report– US$ cont. Firm Information Impax Asset Management uses a model fee, which is the maximum applicable fee, for the computation of composite net-of-fee returns. Since January 2019 net of fee performance was Impax Asset Management is defined as Impax Asset M
Slide 58: Global Opportunities strategy: GIPS report– US$
Global Opportunities strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description Annual Benchmark 3yr The Global Opportunities Composite contains long only Total Firm Composite Number of Annual Gross Annual Net Benchmark Asset Weighted 3yr Annualized Annualized
Slide 59: Global Opportunities cont.
Global Opportunities strategy: GIPS report– US$ cont. Firm Information capital gains. Previously, the performance was presented gross of withholding taxes. The amendment was applied retroactively to more accurately reflect the composite performance. Impax Asset Management is defined as Impax Asset M
Slide 60: Global Social Leaders strategy: GIPS report– US$
Global Social Leaders strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description MSCI AC World The Global Social Leaders Composite contains long only Total Firm Composite Number of Annual Gross Annual Net MSCI AC World Asset Weighted 3yr Annualized 3yr Annuali
Slide 61: Global Social Leaders cont.
Global Social Leaders strategy: GIPS report– US$ cont. Firm Information Fees and Expenses Impax Asset Management is defined as Impax Asset Management Ltd, Impax Asset Management Impax Asset Management uses a model fee, which is the maximum applicable fee, for the (AIFM) Ltd., Impax Asset Management
Slide 62: Global Women's Leadership strategy: GIPS report– US$
Global Women's Leadership strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description MSCI World 3yr The Global Women’s Leadership Strategy invests in Total Firm Composite Number of Annual Gross Annual Net MSCI World Asset Weighted 3yr Annualized Annualized Std
Slide 63: Global Women's Leadership cont.
Global Women's Leadership strategy: GIPS report– US$ cont. Firm Information and can result in a loss of portfolio value. The MSCI World Index performance is presented net of foreign withholding taxes on dividends, interest income and capital gains. Impax Asset Management is defined as Impax Asset Ma
Slide 64: US High Yield Bond strategy: GIPS report– US$
US High Yield Bond strategy: GIPS report– US$ Past performance does not predict future returns. ICE BofA US Composite Description ICE BofA US Cash Pay High Cash Pay High Yield The US High Yield Bond Composite seeks to deliver high current Yield Constrained income and competitive risk-adjusted total
Slide 65: US High Yield Bond cont.
US High Yield Bond strategy: GIPS report– US$ cont. Firm Information Fees and Expenses Impax Asset Management is defined as Impax Asset Management Ltd, Impax Asset Management Impax Asset Management uses a model fee, which is the maximum applicable fee, for the (AIFM) Ltd., Impax Asset Management Ire
Slide 66: International Sustainable Economy strategy: GIPS report– US$
International Sustainable Economy strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description Total Firm MSCI EAFE 3yr The International Sustainable Economy Composite follows Assets Composite Number of Annual Gross Annual Net MSCI EAFE Asset Weighted 3yr Annual
Slide 67: International Sustainable Economy cont.
International Sustainable Economy strategy: GIPS report– US$ cont. Firm Information to purchase or sell any particular securities held in composite accounts. Market conditions can vary widely over time and can result in a loss of portfolio value. Impax Asset Management is defined as Impax Asset Mana
Slide 68: Leaders strategy: GIPS report– US$
Leaders strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description The Leaders Composite contains long only accounts, which MSCI AC invest globally in companies that are developing innovative Total Firm Composite Asset 3yr World 3yr Assets Assets Number of Ann
Slide 69: Leaders cont.
Leaders strategy: GIPS report– US$ cont. Firm Information particular securities held in composite accounts. Market conditions can vary widely over time and can result in a loss of portfolio value. MSCI All Country World performance is presented net Impax Asset Management is defined as Impax Asset Ma
Slide 70: Specialists strategy: GIPS report– US$
Specialists strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description The Specialists Composite contains long only accounts, MSCI AC which invest globally in companies that are developing Total Firm Composite Asset 3yr World 3yr Assets Assets Number of Annual
Slide 71: Specialists cont.
Specialists strategy: GIPS report– US$ cont. Firm Information and can result in a loss of portfolio value. MSCI All Country World is presented net of foreign withholding taxes on dividends, interest income and capital gains. Impax Asset Management is defined as Impax Asset Management Ltd, Impax Asse
Slide 72: Sustainable Infrastructure strategy: GIPS report– US$
Sustainable Infrastructure strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description The Sustainable Infrastructure Composite contains long only accounts, aiming to deliver long term capital growth Total Firm Composite Asset 3yr FTSE GIO 3yr FTSE GIO 3yr Asse
Slide 73: Sustainable Infrastructure cont.
Sustainable Infrastructure strategy: GIPS report– US$ cont. Firm Information particular securities held in composite accounts. Market conditions can vary widely over time and can result in a loss of portfolio value. MSCI All Country World performance is presented net Impax Asset Management is define
Slide 74: US Large Cap strategy: GIPS report– US$
US Large Cap strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description S&P 500 3yr The US Large Cap Composite is a core equities strategy Total Firm Composite Number of Annual Gross Annual Net S&P 500 Asset Weighted 3yr Annualized Annualized Std that fully in
Slide 75: US Large Cap cont.
US Large Cap strategy: GIPS report– US$ cont. Firm Information Impax Asset Management uses a model fee, which is the maximum applicable fee, for the computation of composite net-of-fee returns. Since December 2016 net of fee performance was Impax Asset Management is defined as Impax Asset Management
Slide 76: US Environmental Leaders strategy: GIPS report– US$
US Environmental Leaders strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description MSCI USA 3yr The US Environmental Leaders Composite contains long Total Firm Composite Number of Annual Gross Annual Net MSCI USA Asset Weighted 3yr Annualized Annualized Std o
Slide 77: US Environmental Leaders cont.
US Environmental Leaders strategy: GIPS report– US$ cont. Firm Information Fees and Expenses Impax Asset Management is defined as Impax Asset Management Ltd, Impax Asset Management Impax Asset Management uses a model fee, which is the maximum applicable fee, for the (AIFM) Ltd., Impax Asset Manageme
Slide 78: US Sustainable Economy strategy: GIPS report– US$
US Sustainable Economy strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description Russell 1000 The US Sustainable Economy Composite follows a Total Firm Composite Number of Annual Gross Annual Net Russell 1000 Asset Weighted 3yr Annualized 3yr Annualized susta
Slide 79: US Sustainable Economy cont.
US Sustainable Economy strategy: GIPS report– US$ cont. Firm Information Fees and Expenses Impax Asset Management is defined as Impax Asset Management Ltd, Impax Asset Management Impax Asset Management uses a model fee, which is the maximum applicable fee, for the (AIFM) Ltd., Impax Asset Management
Slide 80: US Small Cap strategy: GIPS report– US$
US Small Cap strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description Total Firm Russell 2000 The US Small Cap Composite a core equities strategy that Assets Composite Number of Annual Gross Annual Net Russell 2000 Asset Weighted 3yr Annualized 3yr Annualize
Slide 81: US Small Cap cont.
US Small Cap strategy: GIPS report– US$ cont. Firm Information vary widely over time and can result in a loss of portfolio value. Impax Asset Management is defined as Impax Asset Management Ltd, Impax Asset Management Fees and Expenses (AIFM) Ltd., Impax Asset Management Ireland Ltd, Impax Asset Man
Slide 82: Water strategy: GIPS report– US$
Water strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description MSCI AC World The Water Composite contains long only accounts, which Total Firm Composite Number of Annual Gross Annual Net MSCI AC World Asset Weighted 3yr Annualized 3yr Annualized invest globa
Slide 83: Water cont.
Water strategy: GIPS report– US$ cont. Firm Information particular securities held in composite accounts. Market conditions can vary widely over time and can result in a loss of portfolio value. MSCI All Country World performance is presented net Impax Asset Management is defined as Impax Asset Mana
Slide 84: US Short Duration strategy: GIPS report– US$
US Short Duration strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description Total Firm Composite Asset 3yr Assets Assets Number of Annual Annual Net Weighted Annualized The US Short Duration High Yield Strategy seeks to generate current Year (Millions)* (Mill
Slide 85: US Short Duration cont.
US Short Duration strategy: GIPS report– US$ cont. Firm Information The USD is the currency used to express performance, results are affected by currency translation. Returns are presented hedged gross and hedged net of management fees and Impax Asset Management is defined as Impax Asset Management
Slide 86: Global Short Maturity strategy: GIPS report– US$
Global Short Maturity strategy: GIPS report– US$ Past performance does not predict future returns. Composite Description Total Firm Composite Asset 3yr Assets Assets Number of Annual Annual Net Weighted Annualized The Global Short Maturity High Yield Strategy seeks to generate current Year (Millions
Slide 87: Global Short Maturity cont.
Global Short Maturity strategy: GIPS report– US$ cont. Firm Information Other Disclosures Impax Asset Management is defined as Impax Asset Management Ltd, Impax Asset Management The USD is the currency used to express performance, results are affected by currency (AIFM) Ltd., Impax Asset Management
Slide 88: Important information
Important information Not for release, publication or distribution, directly or indirectly, in or into, any jurisdiction where to do so might constitute a violation of the relevant laws or regulations of such jurisdiction The information contained in this confidential document (the “Presentation”) a
Impax Asset Management Group — H1 2026 Earnings Presentation on 6ix