Trading Statement

Liontrust Asset Management Plc ("Liontrust" or the "Company"), the specialist independent fund management group, today issues its trading update for the three months ended 31 December 2025 (the "Period").

• Net outflows of £1.0 billion in the Period (2024: £1.6 billion).
• Assets under management and advice ("AuMA") were £21.5 billion as at 31 December 2025.
• Two mandate wins driving Institutional net inflows of £330 million in the Period.
• AuMA as at 10 January 2026 were £21.7 billion.

Commenting, John Ions, Chief Executive Officer, said:

"Liontrust received funding for two new mandates in the last quarter, leading to Institutional net inflows of £330 million in the Period. We have a good potential pipeline and are focused on securing further mandates and returning to positive net inflows for the UK's wholesale and retail markets.

The brand remains strong, as shown by the fact that Liontrust is rated as the 4th best asset manager by advisers in the UK and 8th best by wealth managers in independent research1. The excellent client relationships and brand reputation that Liontrust has across the market are the foundation from which flows will grow over time.

The broadening investment capability is shown by the fact that we had success in European equities in 2025 and have delivered first quartile performance across global equity, fixed income and multi-asset funds in the past one and three years2.

Quality, mid and small cap stocks with strong balance sheets, which are the mainstay of the Economic Advantage and Sustainable Investment funds, have historically delivered material long-term returns. As engines of innovation and employment, they have also been key to driving economic growth. UK valuations are compelling, especially with a backdrop of lower inflation and reducing interest rates, but a prolonged period of share price underperformance has raised threats to the country's competitiveness. Co-ordinated action is required to restore confidence, and this will also unlock capital flows.

Our confidence in the outlook for Liontrust is reflected in the investment made in the business and the ongoing share buy backs. In ensuring that we deliver for clients through disciplined, long-term active management and excellent client service and communications, we can return the business to growth."

1 Source: Research in Finance, December 2025

2 Source: Financial Express to 31 December 2025 as at 5 January 2026, bid-bid, total return, net of fees, based on primary share class.

Assets under management and advice

On 31 December 2025, our AuMA stood at £21,457 million and were broken down by type and investment process as follows:

AuMA as at 10 January 2026 were £21,713 million.

Flows

The net outflows over the Period were £1,024 million (2024: £1,553 million). A reconciliation of fund flows and AuMA over the Period is as follows:

Key Fund Performance (Quartile ranking)

Twelve funds in the first or second quartile over 1 and 3 years:

• Five Fixed Income funds - SF Monthly Income Bond, SF Corporate Bond, Strategic Bond, GF High Yield Bond and MA Monthly High Income.
• Three European funds - European Dynamic, GF European Smaller Companies and GF European Strategic Equity.
• Four Global funds - Global Innovation, Global Technology, Global Alpha and Balanced.

UK domiciled funds-

Source: Financial Express to 31 December 2025 as at 5 January 2026, bid-bid, total return, net of fees, based on primary share

class.

Past performance is not a guide to future performance, investments can result in total loss of capital. The above funds are all UK authorised unit trusts, OEICs, Irish authorised OEICs (primary share class) or UK listed investment trusts. Onshore funds use the Financial Express Investment Association sectors. Offshore funds use the FCA Recognised offshore sectors. Edinburgh Investment Trust Plc uses the AIC Investment Trust UK Equity Income sector.

Liontrust Global Smaller Companies Fund moved from the Global Equities team to the Economic Advantage team on 14 January 2025.

The Liontrust GF Strategic Bond Fund changed name to the Liontrust GF Global Corporate Bond Fund on the 14th Nov 2025.

MA Explorer funds had an objective change on 05/04/2023 and rankings are shown from then.

MA Dynamic Passive fund range, MA Blended fund range, Diversified Real Assets Fund and Russia Fund (suspended) are not included as are in an IA sector that is not rankable. GF Global Technology, GF Global Innovation and GF Global Dividend funds are excluded because they were recently launched.

Other information