Q3 AuM update

Premier Miton Group plc (AIM: PMI) today provides an update on its unaudited statement of Assets under Management ('AuM') for the third quarter of the current financial year ending 30 September 2026 (the 'Quarter' or 'Period').

• £8.6 billion AuM as at 30 June 2026 (30 September 2025: £10.3 billion)
• £0.8 billion of net outflows for the Quarter
• Gross sales remain resilient and are expected to be broadly consistent with recent years at approximately £3 billion for the financial year
• Investment performance improving across a number of key strategies, particularly European equities
• Revised US equity fund management arrangements implemented, with encouraging early performance
• Fixed income and retirement-focused multi-asset strategies continue to attract positive client interest
• Absolute return strategies showing signs of greater stability following elevated redemptions
• The Group remains on track to deliver the previously announced annualised cost savings and continues to identify additional opportunities to improve operational efficiency
• Improving investment performance, resilient gross sales, reduced exposure to previously challenged strategies and ongoing cost discipline are providing a stronger foundation from which to stabilise flows

Mike O'Shea, Chief Executive Officer, commented:

"The quarter has been challenging, with significant net outflows concentrated in a small number of strategies where performance issues had previously been identified. While the scale of these outflows is disappointing, they remain concentrated in the areas of pressure highlighted in prior updates rather than indicating a broad-based deterioration across the business. The closures of the Diverse Income Trust and the Premier Miton Global Sustainable Optimum Income Fund, which together accounted for £217 million of AuM, were also contributors to net outflows during the period.

We have taken targeted action to address the areas of underperformance. Revised fund management arrangements are now in place for the US equity strategy and, since implementation, the strategy has generated approximately 700bps of outperformance relative to its benchmark. We are also encouraged by the significant improvement in performance this year for our European fund which, over time, has the potential to support greater stability in AuM. The new management arrangements within the UK team are working well and we have seen an improvement in relative investment performance. Taken together, this reflects a position where the most acute flow pressures are now largely confined to previously identified areas and are increasingly reflective of past performance issues rather than further deterioration.

Following the significant redemptions already experienced, the strategies that have contributed most to recent net outflows now account for a materially smaller proportion of Group assets and a correspondingly lower source of prospective redemption risk. While rebuilding confidence and restoring growth remains a priority, the residual outflow risk associated with these areas is lower than earlier in the financial year. Combined with improving investment performance across several key strategies, this provides a firmer basis from which to improve net flow trends. The Group remains on track to deliver approximately £3 billion of gross sales for the financial year, consistent with recent years, highlighting the strength of its distribution platform despite the recent period of weaker net flows.

Other areas of the business continue to demonstrate resilience. We are seeing continued client demand for our fixed income strategies and retirement-focused multi-asset funds, increasing interest in global infrastructure, and improving performance across several equity strategies. These areas represent attractive opportunities to stabilise flows and support future growth.

We are maintaining disciplined control of the cost base, with further efficiencies expected to emerge as the business becomes more focused, while preserving the investment and distribution capabilities needed to support recovery. With significant net cash resources and a cash generative operating model, the Group remains well positioned both to invest selectively in future growth opportunities and to pursue value-enhancing strategic initiatives when appropriate.

The combination of improving investment performance, reduced exposure to previously challenged strategies, resilient gross sales and ongoing cost discipline provides a stronger foundation from which to stabilise flows and support a return to sustainable organic growth over time."

Assets under Management:

On 30 June 2026, our AuM stood at £8.6 billion.

A reconciliation of AuM and flows over the Quarter is below:

A reconciliation of AuM and flows over the nine-month period to 30 June 2026 is below:

1 Comprising of 41 open-ended funds and seven external segregated mandates

2 AuM and net flows are presented after the removal of AuM invested in other funds managed by the Group. At the Period end these totalled £265 million

Improving investment performance across key strategies

Investment performance has improved across a number of the Group's key strategies during 2026, including the European Opportunities fund, several UK equity strategies and much of the multi-asset range.

As at 3 July 2026, 20 funds were ranked in the first or second quartile within their respective sectors year to date, including 12 first-quartile funds. The table below provides a summary of quartile rankings across the Group's UK domiciled fund range.

The quartile performance rankings are based on Investment Association sector classifications where applicable, with data sourced from FE Analytics FinXL using the primary share class, based on a total return, UK Sterling, mid-to-mid basis for OEIC funds and a bid-to-bid for unit trusts. All data is as at 3 July 2026.

3 The Premier Miton Global Sustainable Growth Fund changed its name to Premier Miton Global Leaders Fund on 6 July 2026