Trading Statement

Liontrust Asset Management Plc ("Liontrust" or the "Company" or the "Group"), the specialist independent active asset management group, today issues its trading update for the three months ended 30 September 2026 (the "Period").

• Assets under management and advice ("AuMA") were £24.1 billion as at 30 September 2026.
• Net outflows of £459 million in the Period (three months to 30 September 2025: £1.2 billion).
• Twenty-eight funds and investment trusts in the first or second quartile over 3 years1.
• The proposed acquisition of the fund management and model portfolio services business of Hawksmoor Fund Management and Hawksmoor Investment Services (together, "Hawksmoor" and the "Proposed Acquisition") announced on 30 September 2026 and will add approximately £1.9 billion2 of AuMA when the Proposed Acquisition completes, due by end December 2026.
• AuMA as at 16 October 2026 were £24.0 billion.

Commenting, John Ions, Chief Executive Officer, said:

"Liontrust has continued to develop and diversify the business over the last quarter, while retaining the distinctive active investment culture at the heart of the company, as we pursue our growth strategy.

We are encouraged by the improvement in investment performance over the past six months and the progress we are making in enhancing distribution, both internationally and in the UK. As a result, net outflows between 1 April and 30 September 2026 were significantly lower than in the first half of the last financial year.

The integration of River Global demonstrates the benefits of combining complementary investment capabilities and providing talented managers and strong performing funds with Liontrust's brand, distribution capabilities and operating platform. This has been shown by the Board of River UK Micro Cap announcing yesterday that they have reappointed Liontrust as investment manager and the successful engagement with clients on our recent roadshow for the Global Income and Growth Fund.

Hawksmoor's funds and investment solutions business will add around £1.9 billion in AuMA and further strengthen our Multi-Asset capabilities including through the strong performing Vanbrugh and Distribution funds. Hawksmoor's complementary approach and process will broaden the investment solutions we can offer clients and bring new adviser relationships and strategic partnerships.

The existing Liontrust Multi-Asset team has continued to expand engagement with financial advisers and recently won the Best Large Firm category at Citywire's Investment Performance Awards.

Liontrust has used the prolonged challenging period for active fund management to build a stronger business with a more diversified investment capability, broader distribution and enhanced infrastructure. Our focus is on converting the potential pipeline of flows from the UK and internationally and turning the progress we have made into sustainable organic growth."

1 Source: Financial Express to 30 September 2026 as at 5 October 2026, bid-bid, total return, net of fees, based on primary share class.

2 Source: Hawksmoor, as at 31 August 2026.

Assets under management and advice

On 30 September 2026, our AuMA stood at £24,058 million and were broken down by type and investment team as follows:

3 Alternative Funds included in International Funds.

4 Includes AuMA that transferred from River Global Holdings Limited.

5 Investment team(s) that joined and clients whom transferred from River Global Holdings Limited.

6 AuMA for the Liontrust Listed UK Smaller Companies Fund5, Liontrust Institutional UK Small Companies Fund5 and River UK Micro Cap Limited5 included in the Recovery team AuMA.

7 Includes LT European Opportunities Fund, the rollover fund for European Opportunities Trust Plc, and funds managed by Compound Equity Group Limited

AuMA as at 16 October 2026 were £24.0 billion.

Flows

The net outflows over the Period were £459 million (three months to 30 September 2025: £1,235 million). A reconciliation of fund flows and AuMA over the Period is as follows:

8 Alternative Funds included in International Funds.

Key Fund Performance

Twenty-eight funds and investment trusts in the first or second quartile over 3 years:

• Six Fixed Income funds - Strategic Bond, SF Corporate Bond, SF Monthly Income Bond, GF High Yield, GF Global Corporate Bond and GF SF European Corporate Bond funds.
• Three European funds - European Dynamic, GF European Smaller Companies and GF European Strategic Equity funds.
• Four UK funds - UK Recovery, UK Opportunities, UK Listed Smaller Companies and UK Equity Income funds.
• Ten Global Equity funds - Global Income & Growth, Global Recovery IE, Global Recovery, Global Dividend, Global Innovation, Global Technology, Balanced, Global Alpha, US Opportunities and GF Global Alpha Long Short funds.
• Four Multi-Asset funds - MA Monthly High Income, MA Explorer 35, MA Explorer Income 60 and MA Explorer 85 funds.
• One Investment Trust - River UK Micro Cap Limited.

Past performance is not a guide to future performance. Investments can result in a total loss of capital. The above funds are UK authorised unit trusts, OEICs, Irish authorised UCITS (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. River UK Micro Cap Limited uses the AIC Investment Trust UK Smaller Companies sector.

The MA Dynamic Passive fund range, MA Blended fund range, and the Russia Fund (suspended) are not included, as they are in IA sectors that are not rankable.

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