Slide 1: Navigating Growth - Interim Results 2025
INTERIM RESULTS 2025 Navigating Growth
Slide 2: Agenda
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES NAVIGATING GROWTH Agenda 2 CEO Highlights 5 Financial Review 15 Business Review 19 Summary & Outlook 21 Appendices 36 CFO Appendices Visit our website to learn more jtcgroup.com JTC | INTERIM RESULTS 2025 1
Slide 3: Chief Executive Officer - Nigel Le Quesne
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES CHIEF EXECUTIVE OFFICER I have been pleased with the performance of the business in the first half of 2025, continuing our record of delivering Nigel Le Quesne sustainable growth. To achieve net organic growth of 11%, toget
Slide 4: CEO Strategic Highlights
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES CEO STRATEGIC HIGHLIGHTS Cosmos era Sustainable Strong H1 momentum business model performance On track to double 11.0% 19.5m the business +17.3% +15.1% 32.8% Revenue EBITDA Underlying + £ EBITDA Margin Organic Growth New Bu
Slide 5: CEO Financial Highlights
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES CEO FINANCIAL HIGHLIGHTS Proven performance. Sustained growth. £ 172.6m Revenue £ 56.5m Underlying EBITDA 32.8% Underlying EBITDA Margin 11.0% Net Organic Growth +17.3% +15.1% -0.6pp -1.5pp H1 2024: £147.1m H1 2024: £49.1m
Slide 6: Financial Review
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES Financial Review JTC | INTERIM RESULTS 2025 5
Slide 7: Chief Financial Officer - Martin Fotheringham
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES CHIEF FINANCIAL OFFICER Martin Fotheringham Having raised our annual organic growth guidance to at least 10% for the Cosmos era, we are delighted to deliver 11.0% of organic growth. This is particularly impressive in the cu
Slide 8: Financial Highlights
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES FINANCIAL HIGHLIGHTS For the period ended 30 June 2025 Reported Underlying H1 2025 H1 2025 H1 2024 Change Revenue (£m) 172.6 172.6 147.1 +17.3% Performing well and in line with expectations. EBITDA (£m) 41.0 56.5 49.1 +15.1
Slide 9: LTM Revenue Bridge
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES LTM REVENUE BRIDGE Last twelve months (“LTM”) £278.7m* £24.1m £330.6m £16.4m £27.0m Acquisition £0.4m £2.5m £6.2m £20.4m Impressive new business despite macroeconomic conditions. £251.7m Organic Highlights – LTM revenue gro
Slide 10: LTM Net Organic Growth
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES LTM NET ORGANIC GROWTH For the period ended 30 June 2025 Pricing Growth PLC H1 2021 2021 H1 2022 2022 H1 2023 2023 H1 2024 2024 H1 2025 7.0% Once again delivering double 6.6% 25% 21.0% 19.9% 20% 14.4% 14.4% 14.8% digit orga
Slide 11: Revenue by Geography
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES REVENUE BY GEOGRAPHY For the period ended 30 June 2025 Revenue (£M) LTM NET Reported as per Financial Statements Organic Growth* H1 2025 HI 2024 +/- % PLC US momentum continues, UK & Channel Islands 73.6 66.7 +6.9 +10.3% 7.
Slide 12: Underlying EBITDA Margin
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES UNDERLYING EBITDA MARGIN For the period ended 30 June 2025 PLC H1 2021 2021 H1 2022 2022 H1 2023 2023 H1 2024 2024 H1 2025 Continued investment to maximise on organic growth opportunities. 32.7% 32.8% 33.0% 33.0% 33.1% 33.4
Slide 13: Underlying Cash Conversion
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES UNDERLYING CASH CONVERSION For the period ended 30 June 2025 120 113% 108% 106% 104% 6% 101% 102% 98% 16% Cash conversion in line with 87% 91% guidance range and expectations. 8% 86% Highlights – Underlying cash conversion
Slide 14: Net Debt and Leverage
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES NET DEBT AND LEVERAGE For the period ended 30 June 2025 Net Debt £182.3m £177.3m £225.1m Expected increase in leverage during period of heightened M&A. Highlights £48.5m £4.8m £5.2m – Underlying net debt increased by £42.8m
Slide 15: Return on Invested Capital (ROIC)
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES RETURN ON INVESTED CAPITAL (“ROIC”) For the period ended 30 June 2025 PLC ROIC 2021 2022 2023 2024 LTM Jun 25 20% Continued improvement in returns despite M&A outflows. 16% 12.3% 12.6% 13.0% 11.5% 12% 10.6% Highlights – LTM
Slide 16: Business Review
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES Business Review JTC | INTERIM RESULTS 2025 15
Slide 17: Business Review: PCS and ICS
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES BUSINESS REVIEW Macro environment M&A market Regulatory landscape Abundance of opportunities Growth of capital allocation to alternatives is a tailwind for the Group PCS Private Capital Services Division Group ICS Instituti
Slide 18: An Alternative Assets Administrator ('Triple A') Company
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES AN ALTERNATIVE ASSETS ADMINISTRATOR (‘TRIPLE A’) COMPANY Major growth of capital JTC is a critical allocation to alternative assets enabler of capital flow for alternatives 80% Investment in alternative assets Our diversifi
Slide 19: Citi Trust
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES CITI TRUST An acquisition that Strategic partnership Margin expansion Trusted partner for is already elevating delivering tangible ahead of plan bank carve-outs JTC’s profile benefits Stronger brand recognition Collaboratio
Slide 20: Summary & Outlook
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES SUMMARY & OUTLOOK Key takeaways Our guidance metrics 1 Strong growth and stable margins Organic growth of 11.0% with margin in-line with guidance +10% Net Organic Revenue Growth 2 Strengthened market position 1.5X-2.0X Lead
Slide 21: Thank you - Q&A session
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES Thank you Q&A session JTC | INTERIM RESULTS 2025 20
Slide 22: Appendices
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES Appendices JTC | INTERIM RESULTS 2025 21
Slide 23: The Presenters
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES THE PRESENTERS Nigel Martin Le Quesne Fotheringham Chief Executive Officer Chief Financial Officer Nigel Le Quesne has been the key figure in the development of the JTC Group Martin Fotheringham joined JTC in 2015 as Group
Slide 24: About Us
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES ABOUT US JTC delivers expert fund, corporate and private client solutions, built on a culture of ownership, accountability and excellence. We help businesses, investors and individuals to succeed with confidence. 37 years R
Slide 25: Senior Management Team
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES SENIOR MANAGEMENT TEAM Leading Nigel Martin together Le Quesne Chief Executive Officer (PLC) Fotheringham Group Chief Financial Officer (PLC) Iain Kate Johns Beauchamp Group Head of Private Group Head of Institutional Capit
Slide 26: JTC Overview
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES JTC OVERVIEW ICS Institutional Capital PCS Private Capital Services Division Services Division We provide fund, corporate Fund Corporate Private Client We provide trust, corporate and banking services Services Services Serv
Slide 27: The JTC Investment Case
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES THE JTC INVESTMENT CASE 37 years of growth +130 years Experience of senior team 14.8% 24.8% Net organic growth* 6.9% Revenue CAGR We believe that JTC represents an exceptional last 10 years Experienced and long-term growth
Slide 28: Financial Performance and Medium-term Guidance
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES FINANCIAL PERFORMANCE Long history of growth and profitability at high margins 37 years of Revenue and Profit Growth since inception (£m) Revenue Underlying EBITDA 350 300 250 200 150 100 50 0 2007 2008 2009 2010 2011 2
Slide 29: Exceptional Resilience
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES EXCEPTIONAL RESILIENCE Our sustainable, evergreen business Revenue Underlying EBITDA MSCI World Index model has underpinned our exceptional 1800 resilience, driving 37 years of growth and Black Monday Asian Y2K/Poppin
Slide 30: Global Reach
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES GLOBAL REACH c. 2,300 People Scotland Isle of Man Ireland: Dublin Enniscorthy England: Netherlands 38 London (x2) Poland Fareham Germany Bristol Austria Luxembourg United States Switzerland: Boston Geneva Offices New York Z
Slide 31: Blue-Chip Global Client Base
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES BLUE-CHIP GLOBAL CLIENT BASE 20% Of FSTE 100 companies 8 out of 10 Largest global investment banks c. 20 clients Who feature within the Fortune 500 JTC | INTERIM RESULTS 2025 30
Slide 32: The Market: Competitor Landscape
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES THE MARKET Competitor TMF Citco landscape Custody Banks CSC Global IQ-EQ Banks/Wealth Managers Apex SS&C Alts The market can be segmented through Vistra end-market services, geographical Ocorian GEOGRAPHICAL COVERAGE Alter
Slide 33: Macro Market Trends - Institutional Capital
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES MACRO MARKET TRENDS – INSTITUTIONAL CAPITAL $12.8bn Structural growth drivers ICS Growing allocation to alternative assets Allocation to alternatives has continued to grow resulting TAM* for closed-ended funds in a rapid ri
Slide 34: Macro Market Trends - Private Capital
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES MACRO MARKET TRENDS – PRIVATE CAPITAL Structural growth drivers Increasing number of global HNWI expected between 2024 to 2028 (’000) PCS Wealth creation In 2024 the number of HNWIs globally rose by 4.4% to over 2m individu
Slide 35: Our Sustainability Journey
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES OUR SUSTAINABILITY JOURNEY Priority issues Present Next 12-18 months Beyond Climate change – Scope 1, 2 & 3 measurement – Improve Scope 3 carbon emissions – 50% reduction in Scope 1 & 2 Carbon emissions – Energy efficiency
Slide 36: Technology Enabled
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES TECHNOLOGY ENABLED We are a people business that is increasingly enhanced and enabled by technology. We use technology across the Group in three ways. Firstly, to create new and enhanced service offerings for our clients; s
Slide 37: CFO Appendices
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES CFO Appendices JTC | INTERIM RESULTS 2025 36
Slide 38: Group Balance Sheet
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES GROUP BALANCE SHEET For the period ended 30 June 2025 30.06.2025 31.12.2024 +/(-) Non-current assets £M £M £M Property, plant and equipment & right-of-use assets 59.9 57.7 2.2 Goodwill 555.5 592.2 (36.7) Healthy balance she
Slide 39: Group Cash Flow
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES GROUP CASH FLOW For the period ended 30 June 2025 H1 2025 H1 2024 £M £M Cash generated from operations 43.7 49.3 Income taxes paid (1.6) (3.4) Highly cash generative with drawdown Net cash from operating activities 42.1 45.
Slide 40: Cash Conversion & Leverage Reconciliation
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES CASH CONVERSION & LEVERAGE RECONCILIATION For the period ended 30 June 2025 Cash conversion Underlying cash generated (£m) H1 2021 2021 H1 2022 2022 H1 2023 2023 H1 2024 2024 H1 2025 Net cash from operating activities 20.0
Slide 41: ICS Division
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES ICS DIVISION For the period ended 30 June 2025 Revenue and Underlying EBITDA Underlying EBITDA Margin (%) £104.2m 30.7% £87.5m 9.2% LTM net organic growth. Highlights 30.1% – Net revenue growth of 19.1%. – LTM net organic g
Slide 42: PCS Division
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES PCS DIVISION For the period ended 30 June 2025 Revenue and Underlying EBITDA Underlying EBITDA Margin (%) £68.4m 37.4% £59.6m Impressive LTM net organic growth 36.8% of 14.5%. Highlights £25.2m £22.3m – Net revenue growth o
Slide 43: Client Attrition and Retention
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES CLIENT ATTRITION AND RETENTION For the period ended 30 June 2025 Client Attrition Retention of Non-End of Life Revenue PLC 2021 H1 2022 2022 H1 2023 2023 H1 2024 2024 H1 2025 Increased retention of non-end of life revenue.
Slide 44: Important Notice
CEO FINANCIAL BUSINESS SUMMARY HIGHLIGHTS REVIEW REVIEW & OUTLOOK APPENDICES IMPORTANT NOTICE This presentation should be read in conjunction with the RNS announcement published by JTC PLC (“JTC” or “the Company”) on 16 September 2025. This presentation is not a prospectus or a prospectus equivalent
Slide 45: Thank you
INTERIM RESULTS 2025 Thank you