#1Premier Miton INVESTORS Investor presentation For the six months ended 31 March 2021#2HIGHLIGHTS ASSETS UNDER MANAGEMENT Premier Miton INVESTORS £12.6bn AuM as at 31 March 2021 £13.1bn AuM as at 30 April 2021 +£359m Net Flows for the period PRODUCT & PERFORMANCE 74% of funds and investment trusts are above median performance since launch or tenure¹ 50 products managed at 31 March 2021 Core products in key demand pools RESULTS & PROFITABILITY 31% 3.7p £34.4m of total cash at adjusted profit margin Interim dividend per share 31 March 2021 ¹Source: Premier Miton performance data as at 31 March 2021. See footnote on page 11 of Interim Report 2021. Investor presentation 2#3POSITIONED FOR GROWTH Purpose Our purpose is to actively and responsibly manage our clients' investments for a better financial future Investment case/core qualities R Strong AuM growth potential Ample capacity High performing across fund range investment teams Premier Miton INVESTORS Priorities - Deliver excellent investment performance over the long term Grow AuM via broad distribution strategy Realise benefits of the platform for the benefit of all stakeholders Attractive platform for Robust balance sheet talented individuals Transparent aspirations and straightforward products Investor presentation 3#4GROWING NET FLOWS AND AUM AuM (£bn) 12.0 12.6 10.3 10.6 +19% for the half year 30-Jun-20 30-Sep-20 31-Dec-20 31-Mar-21 Net flows (£m) (226) 166 193 -(4)- Q3 Q4 2020 2020 Q1 2021 Q2 2021 Premier Miton Positive momentum behind high active share single strategy funds INVESTORS Strong performance across multi-asset funds Improving profile for multi-manager funds +£359m for the half year Second consecutive quarter of positive net flows Investor presentation 4#5INVESTMENT PERFORMANCE As at 31 March 2021 3yrs Since launch/ manager tenure 10% AuM weighted Number of funds 28% 15% 32 funds 47% 38 funds 12% 62% 9% 16% 3yrs Since launch/ manager tenure 11% 9% 5% 13% 11% £12.6bn 54% £12.6bn 13% 11% 64% 9% Quartiles 1st quartile 2nd quartile 3rd quartile 4th quartile Not applicable *Source: Premier Miton performance data as at 31 March 2021. Excludes funds without applicable IA Sector, or those which are risk-rated. Premier Miton INVESTORS 74% of funds are above median since launch/manager tenure* 75% of total AuM is above median since launch/manager tenure* Investor presentation 5#6THE GROUP'S AUM IS NOW MORE DIVERSIFIED % of total closing AuM, per strategy £12.6bn 22% £10.6bn £9.1bn 19% Equity, UK 20% 34% 32% Equity, ex-UK 24% Fixed Income 4% 5% 7% Investment Trusts 6% 6% 6% Multi-Asset, 10% 9% Directly Invested 14% Multi-Asset, Multi-Manager* 36% 30% 18% 31 Mar 2020 30 Sep 2020 *Includes Connect, Premier Miton Multi-Asset Absolute Return and Premier Multi-Asset Balanced Index. ^ As at 31 March 2021. 31 Mar 2021 Premier Miton INVESTORS 8 out of 17 investment teams run more than £500m^ AuM of equity funds grown by 74% in the past 12 months Early traction made with fixed income funds Investor presentation 6#7Results Premier Miton INVESTORS#8INCOME STATEMENT Unaudited six months 31 Mar 2021 Unaudited six months 31 Mar 2020 30 Sept 2020 Average AuM (Em) 11,819 9,928 10,110 Closing AuM (Em) 12,602 9,145 10,608 Premier Miton INVESTORS Audited year to AuM increased by 19% on the opening position for the period Net inflows in the period were £359m (2020 HY: £389m net outflows) Net revenue 38.5 33.4 66.8 Net management fee 64.2 67.4 65.9 margin (bps) Administration expenses (26.6) (21.3) (44.4) Adjusted PBT 11.9 12.2 22.4 Amortisation (2.4) (2.1) (4.5) Exceptional/merger- (1.3) (3.1) (4.7) related costs Share-based payments (2.1) (1.6) (3.6) Profit before tax 6.2 5.3 9.6 Net revenue increase driven by higher average AuM and a full six-month contribution from the former Miton funds Net management fee margin was 64.2bps reflecting the change in the AuM mix of the Group Administration expenses increased by 25%, these are detailed further on page 9 Amortisation includes a full six months of charge for the intangible assets recognised upon merger Merger completed in the period with £1.2m of non-recurring costs recognised (2020 HY: £3.0 million) Investor presentation 8#9COST BASE Administration expenses (excl. share-based payments) (£m) Personnel - Fixed Personnel Variable Overheads & other costs Depreciation +25% 26.6 0.7 21.3 9.0 0.6 8.4 3.9 8.3 7.8 1 9.1 HY2020 HY2021 Premier Miton INVESTORS Current half year costs represent a normalised position for the enlarged Group Increase in administration expenses reflects: . Additional 1.5 months of costs associated with the former Miton business offset in part by synergies realised post-merger Increase in external fund administration costs reflected within overheads arising from the completion of the alignment of the Group's operating model. This is offset by an increase in the net revenue margins for those funds Variable personnel costs increased due to: Increase in net revenues . The comparative period excluded variable remuneration related to restructuring Remuneration cycles across the Group were aligned in the comparative period Investment in new products and teams (namely the fixed income and global smaller companies teams) FTE staff 148 151 (closing including NEDS) Investor presentation 9#10BALANCE SHEET £m Non-current assets Goodwill Intangible assets Other investments Property and equipment Right-of-use assets Unaudited Unaudited Audited 31 Mar 2021 31 Mar 2020 30 Sept 2020 70.9 71.5 29.9 34.1 70.9 32.2 0.1 0.1 0.1 2.0 2.7 2.4 2.1 2.8 2.4 Deferred tax asset 1.4 0.8 1.6 Trade and other receivables 0.8 0.2 0.4 107.2 112.1 110.0 Current assets Financial assets at FVTPL 3.3 1.6 2.7 Trade and other receivables 167.8 67.0 44.4 Cash and cash equivalents 34.4 29.2 36.0 205.5 97.8 83.1 Total assets 312.7 209.9 193.1 Current liabilities Trade and other payables (175.1) (74.0) (53.0) Current tax liabilities (1.5) (1.9) (3.0) Lease liabilities (0.9) (0.8) (0.9) (177.5) (76.7) (56.9) Non-current liabilities Provisions (0.4) (0.4) (0.4) Deferred tax liability (3.7) (4.1) (4.1) Lease liabilities (1.6) (2.5) (2.1) Total liabilities (183.2) (83.7) (63.5) Net assets Equity Share capital 129.5 126.2 129.7 0.1 0.1 0.1 Merger reserve 94.3 94.3 94.3 Own shares held by an EBT (15.4) (14.6) (14.6) Capital redemption reserve 4.5 4.5 4.5 Retained earnings 46.0 41.9 45.4 Total equity shareholders' funds 129.5 126.2 129.7 Premier Miton INVESTORS Intangible assets: investment management agreements ('IMAS') recognised on merger and amortised over 7 years Right-of-use assets (and lease liabilities): recognition of on-balance sheet leases due to IFRS 16 Financial assets FVTPL: seed investments in funds and deferred remuneration Trade and other receivables/payables: higher due to the onboarding of all open-ended funds onto the in-house ACD model Deferred tax liability: recognised on IMA's arising from merger Own shares held by EBT: increase due to additional shares purchased in the period Investor presentation 10#11Outlook Premier Miton INVESTORS#12UK equities quartile SINGLE STRATEGY FUNDS DELIVERING FOR INVESTORS Performance and fund size as at 31 March 2021 (numbers represent quartile rankings within relevant sector) Ex-UK equities Investment performance Risk-adjusted performance LTM Fund Active Sharpe Name 3YR SMI growth Size £m Share (%) Ratio Premier Miton European Opportunities +130% 2,416 1 1 95 1 Premier Miton US Opportunities +89% 1,089 1 1 95 1 Premier Miton US Smaller Companies +180% 349 1 1 95 1 Premier Miton Pan European Property Share -21% 173 n/a n/a 41 20 n/a Premier Miton Global Sustainable Growth +35% 111 n/a Premier Miton Worldwide Opportunities +28% 56 2 Premier Miton Global Infrastructure Income +63% 49 1 Premier Global Infrastructure Income* -19% 41 4 1234 90 n/a 71 71 Premier Miton Global Sustainable Optimum Income Premier Miton Global Smaller Companies n/a 17 n/a 1 91 312 42 2 n/a 15 n/a n/a 99 60 n/a 4,316 Premier Miton UK Multi Cap Income +24% 935 1 1 86 1 Premier Miton UK Value Opportunities +91% 623 1 1 91 1 Premier Miton Monthly Income. +99% 258 4^ 4^ 66 4^ Premier Miton UK Smaller Companies +569% 234 1 1 91 1 Premier Miton UK Growth +110% 219 1 1 91 1 Premier Miton Ethical +72% 209 1 1 91 1 Premier Miton Income -3% 192 4^ 4^ 66 4^ Premier Miton Optimum Income 2nd quartile 3rd quartile quartile -1% 62 4^ 3^ 66 4^ 2,732 * to be merged with Premier Miton Global Infrastructure Income in September 2021 ^ recent change in fund manager Premier Miton INVESTORS 8 of these funds are top decile performers in their sectors since inception Investor presentation 12#13STRONG MULTI-ASSET INVESTMENT PERFORMANCE... Performance and fund size as at 31 March 2021 (numbers represent quartile rankings within relevant sector) Premier Miton INVESTORS Performance (in quartiles) Size Fund 1YR SMI (£m) ...NET FLOWS ARE IMPROVING. Monthly net flows of all multi-asset funds Multi-Manager Premier Miton Multi-Asset Distribution 1,052 1 3 Premier Miton Multi-Asset Monthly Income 552 1 1 30 Premier Miton Multi-Asset Global Growth 127 1 1 20 Premier Miton Liberation range 351 10 n/a n/a 0 2,082 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 -10 Premier Miton Cautious Multi Asset 377 1 1 -20 Macro Thematic Premier Miton Cautious Monthly Income Premier Miton Defensive Multi Asset Premier Miton Multi-Asset Conservative Growth Premier Miton Multi-Asset Growth and Income 124 1 1 -30 -40 124 2 88 * * £m -50 618 * -60 -70 1,331 -80 -90 Premier Miton Diversified Growth 245 1 1 -100 Diversified Premier Miton Diversified Dynamic Growth Premier Miton Diversified Income 39 1 1 -110 34 1 1 -120 Premier Miton Diversified Cautious Growth 33 1 1 -130 Premier Miton Diversified Balanced Growth Premier Miton Balanced Multi Asset 29 1 3 Λ Λ Diversified - Macro thematic - Multi-manager (ex. Absolute Return) quartile 2nd quartile 3rd quartile 4t quartile 383 Performance as at 31 March 2021 against relevant IA sectors. Excludes Connect, Premier Miton Multi-Asset Absolute Return and Premier Miton Managed Index Balanced. *manager changed to D Jane / A Rayner from 1 February 2021. Amanager changed to N Birrell from 1 March 2021. Investor presentation 13#14THE UK LOOKS COMPARATIVELY UNDERVALUED.... Premier Miton INVESTORS UK FTSE All-Share Index vs the US S&P 500 4.0 3.5 3.0 ....AND THE GROUP IS WEIGHTED TOWARDS THE UK. Total AuM by geography, at 6 May 2021 2.5 20 2.0 1.5 1.0 0.5 1965 1968 1972 1976 1980 1983 1987 1991 1995 1998 2002 2006 2010 2013 2017 Source: Refinitiv 0000 If investors' demand for UK equities increases, the Group is well placed to capture flows Other 5% United States United Kingdom 15% Europe 38% 41% Investor presentation 14#15A GOOD TIME FOR ACTIVE MANAGEMENT Combined weight of the five largest stocks in the S&P 500 index 25% 24% 23% 22% 21% 20% 19% 18% 17% 16% 15% 14% 13% 12% 11% 10% Premier Miton INVESTORS Rotation from growth towards Top five as of 31 March 2021 Apple 5.7% value Microsoft 5.3% Amazon 3.9% Facebook 2.1% Google 3.6% Total 20.6% Active management tends to outperform when market concentration is declining Active managers who embrace ESG in their investment processes can make a real difference 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 Vaccine rollout and economic reopening, earnings recovery Source: Boomberg data as of 31 March 2021. Not to be considered as recommendations to buy or sell any securities. Investor presentation 15#16THE GROUP IS WELL PLACED TO ACHIEVE GROWTH Multi-Asset, Multi-Manager UK Small & Mid Cap Established Multi-Asset, Macro Thematic UK Value European Equities US Equities Emerging Multi-Asset UK Growth & Ethical Multi-Asset, Diversified Fixed Income UK Income Global Equities Fixed Income Fledgling Ex-UK Equity UK Equity Mature Premier Miton INVESTORS ESG capability Investor presentation 16#17AN ATTRACTIVE PLATFORM FOR TALENT Premier Miton INVESTORS Strategy Recent Hires Duncan Goodwin Ex-UK equity January 2020 UK equity Fixed Income Emma Mogford November 2020 Lloyd Harris, Simon Prior, Rob James August 2020 Alan Rowsell, Global Sustainable Equity UK Equity Income Product type New fund(s) launched Ex-UK Equity Imogen Harris Corporate Bonds, Capital Securities 2 new funds launched in September 2020 AuM £154m* Global Smaller Companies 1 new fund launched in March 2021 AuM £20m* October 2020 Russell Champion to Ex-UK Equity join Carlos Moreno and Thomas Brown European Equity Growth 1 new fund launched in May 2021 AuM £55m* Q3 2021 Will James to join in Ex-UK Equity June 2021 * estimate as at 21 May 2021 (unaudited) Planned launch European Equity Income September 2021 (subject to FCA approval) Investor presentation 17#18A CLEAR ROUTE TO MARKET Marketing Distribution • 12 marketing team 21 distribution team, split: • Premier Miton INVESTORS Conversion Top quartile investment performance New website launched March 2021 • Active marketing covering events, PR, website, e-marketing & video • 6 regional discretionary 7 regional advisory • 8 distribution support Continual enhancement of CRM system . Responsive to clients • Strong brand Targeted marketing activity Top ten net sales for Q1 2021 (Pridham Report) Investor presentation 18#19A PATHWAY TO £20BN 5.0 4.5 Premier Miton INVESTORS £20bn+ 4.0 3.5 3.0 AuM 2.5 £bn 2.0 1.5 T T T T 1.0 0.5 0.0 Global Equities UK Income UK Growth & Ethical Fixed Income Multi- Asset, Diversified Multi- Asset, Macro adu UK Value European US Equities UK Small Equities Multi- & Mid Cap Asset, Multi-Mgr £12.6bn actual Thematic No. funds 8 2 5 5 1 2 2 4 8 IA market size (£AuM) 163bn 44bn 160bn 244bn 183bn 183bn 160bn 63bn 85bn 160bn 183bn % market share 0.6% 2.3% 0.9% 1.0% 0.8% 0.8% 0.9% 6.3% 3.5% 1.6% 1.1% (potential) Cumulative Multi-Asset Fixed Income Ex-UK Equity UK Equity total AuM (RHS) 19#20SUMMARY Premier Miton INVESTORS 01 Sustain excellent outcomes for clients and our strong investment performance 02 Build the AuM in our strategies through our established nationwide distribution team 03 Ensure a scalable and efficient operating platform 04 Continue to promote our brand via a well managed marketing team 05 Reward and retain our top talent via good culture and remuneration structures 06 Deliver thoughtful and sustainable funds that align with our purpose Investor presentation 20 20#21Appendices Premier Miton INVESTORS#22A DIVERSIFIED ASSET MANAGER... As at 31 March 2021: 18 Equity funds £7.1bn 8 2 Premier Miton INVESTORS 20 Multi-asset funds £3.9bn 5 Investment trusts £0.7bn 8 6 3 UK equity funds US equity funds Multi-manager funds Diversified directly invested funds UK focused investment trusts 6 2 5 1 1 Global equity funds European equity funds Macro thematic directly invested funds Managed index fund Global trust of investment trusts 5 Fixed income funds £0.5bn 1 Global renewables investment trust 2 Segregated mandates. £0.4bn 50 products managed, total AuM: £12.6bn 2 Sterling bond funds 1 1 1 Contingent capital securities fund Corporate bond fund 1 1 Money market Defensive growth Diversified bond fund fund fund Investor presentation 22 222#23NET FLOWS BY FINANCIAL QUARTER (£m) 95 (187) (20) (18) (96) 166 Premier Miton INVESTORS 196 193 31 202 340 119 (309) (16) 425 23 (243) (384) (11) (226) Q3 (4) (17) 2020 Q4 2020 Q1 Q2 2021 2021 (Jun) (Sep) (Dec) (Mar) Equity funds Multi-asset funds Fixed income funds Investment trusts Segregated mandates Investor presentation 223#24PREMIER MITON'S APPROACH TO INVESTING RESPONSIBLY Premier Miton defines responsible investing as an approach to investing that includes the consideration of Environmental, Social and Governance (ESG) factors alongside financial factors, supported by voting and engaging with the management of companies in which it invests, or are considering investing in. We use the United Nations Sustainable Development Goals as part of our process for assessing and measuring the non-financial outcomes of our portfolios. We are committed to investing responsibly and offering sustainable and ethical themed products Premier Miton INVESTORS Exclusions ESG research and data Climate-related financial risks Long-term investing Supporting Active stewardship Engagement Voting responsible investment initiatives Investor presentation 24 24#25RANGE OF SPECIALIST RESPONSIBLE FUNDS Premier Miton INVESTORS We offer a range of specialist sustainable and ethical funds. The fund managers, along with Premier Miton's Head of Responsible Investing, undertake additional research as part of the investment process, supported by third party ESG data. Typically, these funds will undertake a higher level of company engagement. These fund managers will report on how they have delivered against the funds' non-financial considerations, for example against the UN Sustainable Development Goals. Fund Premier Miton Ethical Fund Premier Miton Global Optimum Sustainable Income Fund Premier Miton Global Sustainable Growth Fund Premier Miton Global Renewables Trust Premier Miton European Sustainable Leaders Fund Premier Miton Balanced Multi Asset Fund Objective A UK equity growth fund seeking to invest in companies with a positive societal footprint. A global equity income fund focussed on long-term sustainable growth themes. A global equity growth fund focussed on long-term sustainable growth themes. An income focussed investment trust focused on investing in global renewable energy sectors and other sustainable infrastructure investments. A sustainable and ESG focused European equity fund Planned sustainable investment approach subject to relevant approvals. Investor presentation 25 25#26PRODUCT RANGE - SINGLE STRATEGY AND FIXED INCOME Premier Miton INVESTORS AuM AuM 30 Sept 31 Mar AuM 30 Sept AuM 31 Mar 2019 2020 2020 2021 Year of launch/ tenure Strategy Equity Funds £m £m £m £m Fund Manager(s) Quartile performance from launch/ tenure Premier Miton UK Multi Cap Income Fund Premier Miton UK Smaller Companies Fund Premier Miton US Opportunities Fund Premier Miton US Smaller Companies Fund Premier Miton UK Value Opportunities Fund 756 837 935 Gervais Williams/Martin Turner 2011 1 35 66 234 Gervais Williams/Martin Turner 2012 576 834 1,089 Nick Ford/ Hugh Grieves 2013 1 125 219 349 Nick Ford/ Hugh Grieves 2018 1 326 347 623 Andrew Jackson 2016 1 Premier Miton European Opportunities Fund Premier Miton Global Infrastructure Income Fund Premier Miton Worldwide Opportunities Fund 1,052 1,897 2,416 Carlos Moreno/Thomas Brown 2015 1 30 43 49 Jim Wright 2017 3 43 44 56 Nick Greenwood 2003 2 FP Miton Income Fund Premier Miton Income Fund Premier Miton Monthly Income Fund Premier Miton Optimum Income Fund Premier Miton Ethical Fund 123 302 197 184 192 Emma Mogford 2020 4 190 130 250 258 Emma Mogford 2020 4 96 63 56 62 Emma Mogford/Geoff Kirk 2020 3 146 121 160 209 Jon Hudson/Benji Dawes 2019 1 Premier Miton UK Growth Fund 121 105 132 219 Jon Hudson/Benji Dawes 2017 1 Premier Miton Pan European Property Share Fund 262 218 176 173 Alex Ross 2005 n/a Premier Miton Global Sustainable Growth Fund 107 82 101 111 Duncan Goodwin 2020 1 Premier Global Infrastructure Income Fund 66 50 43 41 Jim Wright 2020 Premier Miton Global Sustainable Optimum Income Fund 22 18 15 17 Duncan Goodwin/Geoff Kirk 2020 1 Premier Miton Global Smaller Companies Fund 15 Alan Rowsell/Imogen Harris 2021 n/a 1,312 4,050 5,404 7,048 Fixed Income Funds Premier Miton Corporate Bond Monthly Income Fund 48 44 82 Premier Miton UK Money Market Fund¹ 215 192 185 Premier Miton Financials Capital Securities Fund 64 Premier Miton Strategic Monthly Income Bond Fund Premier Miton Defensive Growth Fund 55 313 147 100 576 383 486 gនន៨ទី៩ 136 Lloyd Harris/Simon Prior 2020 1 165 Chun Lee/Hoy Wan 2019 3 73 Lloyds Harris/Rob James 2020 n/a 72 Lloyd Harris/Simon Prior 2020 2 74 Robin Willis/Daniel Hughes 2019 n/a 520 Investment Trusts The Diverse Income Trust Plc 293 322 396 Gervais Williams/Martin Turner 2011 Miton Global Opportunities Plc 58 71 88 Nick Greenwood 2003 Miton UK Microcap Trust Plc 57 70 107 Gervais Williams/Martin Turner Acorn Income Fund Limited 96 76 81 93 Lee/Willis/Unicorn AM 2015 1999 232- 1 Premier Miton Global Renewables Trust plc 54 47 55 47 James Smith 2012 150 531 599 731 Segregated Mandates Sentinel Universal Portfolio 95 89 Quilter Investors Corporate Bond Fund 230 Quilter Investors Diversified Bond Fund 136 95 89 366 Investor presentation 26 26#27PRODUCT RANGE - MULTI-ASSET Premier Miton INVESTORS AuM 30 Sept AuM 31 Mar AuM AuM 30 Sept 31 Mar 2019 2020 2020 2021 £m £m £m £m Quartlie Year of performance launch/ from launch/ tenture tenure Strategy Multi-asset funds Premier Miton Cautious Multi-Asset Fund Fund manager(s) 400 431 377 David Jane/Anthony Rayner 2014 1 Premier Miton Defensive Multi Asset Fund 52 56 124 David Jane/Anthony Rayner 2014 2 Premier Miton Balanced Multi Asset Fund Premier Miton Cautious Monthly Income Fund¹ Premier Miton Multi-Asset Absolute Return Fund 1 2 3 Neil Birrell 2021 2 202 200 124 David Jane/Anthony Rayner 2011 1 207 162 146 138 Multi-manager team 2009 n/a Premier Miton Multi-Asset Conservative Growth Fund Premier Miton Multi-Asset Monthly Income Fund Premier Miton Multi-Asset Distribution Fund Premier Miton Multi-Asset Growth & Income Fund Premier Miton Multi-Asset Global Growth Fund 131 111 112 88 David Jane/Anthony Rayner 2021 4 737 579 560 552 Multi-manager team 2009 1 1,517 1,184 1,165 1,052 Multi-manager team 1999 3 885 658 657 618 David Jane/Anthony Rayner 2021 2 202 150 156 127 Multi-manager team 2012 1 Premier Miton Liberation No. IV Fund 154 120 121 111 Multi-manager team 2012 n/a Premier Miton Liberation No. V Fund 179 141 144 138 Multi-manager team 2012 n/a Premier Miton Liberation No. VI Fund 103 74 71 70 Multi-manager team 2012 n/a Premier Miton Liberation No. VII Fund 41 30 31 32 Multi-manager team 2012 n/a Premier Miton Diversified Growth Fund 180 154 185 245 Neil Birrell 2013 1 Premier Miton Diversified Income Fund 33 27 29 34 Neil Birrell 2017 1 Premier Miton Diversified Balanced Growth Fund 16 14 16 29 Neil Birrell 2019 1 Premier Miton Diversified Cautious Growth Fund 17 15 16 33 Neil Birrell 2019 1 Premier Miton Diversified Dynamic Growth Fund Premier Miton Managed Indexed Balanced Fund Premier Portfolio Management Service 19 15 18 39 Neil Birrell 2019 1 1 1 1 Wayne Nutland 2019 3 2 2 2 2 PPMS Investment Committee Total AuM 4,423 6,556 4,092 4,119 3,937 9,145 10,608 12,602 The quartile performance rankings are based on Investment Association sector classifications where applicable, with data sourced from FE Analytics using the main representative post-RDR share class, based on a total return, UK Sterling basis. The performance rankings above could be shown on a combination of bid, mid or offer prices, depending on the period of reporting. All data is as at 31 March 2021 and the performance period relates to when the fund launched or the assumed tenure of the fund manager(s). Performance for investment trusts is calculated on Net Asset Value (NAV), ranked against the relevant Morningstar category for each investment trust, and is sourced from Morningstar Direct. Performance for Miton Global Opportunities plc and Acorn Income Fund is quoted over ten years Investor presentation 27#28DISCLAIMER Premier Miton INVESTORS This Presentation is strictly private and confidential, may not be distributed to any person other than the direct recipient and may not be copied, re-produced, discussed, published, quoted or referenced, in any form, in whole or in part, for any purpose whatsoever, without the prior written consent of Premier Miton Group plc ('Premier Miton'). Any distribution or reproduction of this Presentation in whole or in part is unauthorised. Failure to comply with this restriction may constitute a violation of applicable laws. This Presentation is not intended to provide, and should not be construed as, or relied upon for, legal, tax, financial, business, regulatory or investment advice, nor does it contain a recommendation regarding any particular course of action. The merits or suitability of any options described in this Presentation must be independently determined by the recipient on the basis of its own investigation and evaluation. Any such determination should involve, among other things, an assessment of the legal, tax, accounting, regulatory, financial, credit and other related implications. Recipients of this presentation are advised to seek expert advice before making any decision. The Presentation is provided for general information only and does not purport to contain all the information that may be required to evaluate the options described herein. The information and opinions contained in this Presentation are provided as at the date of this Presentation. Save in the case of fraud, no liability whatsoever (whether in negligence or otherwise) arising directly or indirectly from the use of this Presentation is accepted and no representation, warranty or undertaking, express or implied, is or will be made by Premier Miton, any person acting for it or on its behalf, or any of its affiliates or its or their respective directors, officers, employees, advisers, representatives or other agents for any information or any of the opinions contained herein or for any errors, omissions or misstatements. No such person makes or has been authorised to make any representation or warranties (express or implied) in relation to Premier Miton or as to the truth, accuracy or completeness of this Presentation. In particular, no representation or warranty is given as to the achievement or reasonableness of, and no reliance should be placed on any projections, targets, estimates or forecasts contained in this Presentation and nothing in this Presentation is or should be relied on as a promise or representation as to the future. Premier Miton does not believe (as at the date of production of this Presentation) that the information contained in this Presentation is inside information for the purposes of Part V of the Criminal Justice Act 1993 or the UK Version of the Market Abuse Regulation ('Relevant Legislation'). Recipients of this Presentation should conduct their own analysis as to the status of the information in this Presentation in the context of the Relevant Legislation and, where necessary, should seek their own legal advice. Premier Miton does not accept any responsibility or liability for any acts or omissions by any person in reliance on Premier Miton's evaluation of the status of the information in this Presentation in the context of the Relevant Legislation. The information provided in relation to the investment funds in this presentation is as at 31 March 2021 unless otherwise stated. The value of investments and any income will fluctuate and investors may not get back the full amount invested. Past performance is not a guide to future returns. Premier Miton Group plc includes the following companies that are regulated by the Financial Conduct Authority: Premier Portfolio Managers Limited (FRM 122067) and Premier Fund Managers Limited (FRN 143097). The Registered Office for Premier Miton Group plc (Co House No. 06306664), Premier Portfolio Managers Limited (Co House No. 01235867) and Premier Fund Managers Limited (Co House No. 02274227) is Eastgate Court, High Street, Guildford, Surrey GU1 3DE. Investor presentation 28 28