#1Schroders 2021 Full-Year Results Peter Harrison Group Chief Executive 3 March 2022 fadye Marketing material for professional clients only#2Schroders 2021 Full-Year Results 2 Financial performance benefitting from strategic growth initiatives Net income1¹ (£m) Ratio of total costs to net income¹ Profit before tax¹ (£m) AUM (£bn) Net new business (£bn) Basic EPS (pence) Total dividend per share (pence) ¹Before exceptional items. 2Excluding £28.2bn from SWIFT. 2021 2,568.8 2,179.2 67% 836.2 731.6 35.3 220.8 2020 122 68% 702.3 663.0 26.7² 172.4 114 Change +18% (1%) +19% +10% +28% +7% Wealth Management, Private Assets and innovative new products generated high organic NNB growth whilst we demonstrated cost discipline. Schroders#3Schroders 2021 Full-Year Results 3 Delivering strong active investment performance for our clients Weighted average relative outperformance of 25 largest funds net of fees Cumulative % 18 16 14 12 10 8 6 4 2 O 1.3 Over 1 year 11.4 Over 3 years 16.1 Over 5 years 74% outperforming over 1 year 79% outperforming over 3 years 78% outperforming over 5 years Note: Please refer to page 7 of the Full-Year 2021 Press Release on our investor relations website for more information about client investment performance. Schroders#4Schroders 2021 Full-Year Results 4 £731.6bn of AUM and 10% yoy growth Continued diversification towards higher growth areas Historic AUM development £bn 800 600 400 200 0r 453.6 2016 497.2 2017 5yr CAGR 10% 467.2 2018 569.4 2019 663.0 2020 731.6 2021 Revenue diversification by business area Including performance fees and carried interest 27% 11% 14% 16% 32% Private Assets and Alternatives Mutual Funds Wealth Management Solutions Institutional Schroders#5Schroders 2021 Full-Year Results Investing for growth Strong track record of delivering against our strategic growth initiatives Closer proximity to consumers Grow Wealth Management offering Avoid disintermediation and increase client longevity - - Grow Asset Management Grow Solutions Lead in sustainability and Impact Revamp product set to offer contemporary products Expand geographic reach GD - Expand Private Assets and Alternatives Rebalance business towards private markets Increase revenue margins and client longevity Schroders#6Schroders 2021 Full-Year Results £35.3bn of net new business generated in 2021 Equivalent to a 5% organic growth rate Net new business split by business area £bn 25 20 15 10 5 0 (5) 20.2 Joint ventures and associates (1.5) Solutions (2.5) Institutional Note: The organic growth rate is calculated as net new business divided by opening AUM. +£19.1bn of net new business into high margin areas 6.9 Private Assets and Alternatives 4.1 Wealth Management 8.1 Mutual Funds Schroders#7Schroders 2021 Full-Year Results 7 Our strategic initiatives have made a significant contribution to this year's results Net new business by growth initiative £bn 25 20 10 5 0 20.2 7.4 Note: excludes consolidation adjustments. 5.7 4.4 4.1 3.2 Joint ventures and Schroders Capital Article 8 & 9 funds Thematic strategies Wealth Management North America associates 2.1 Latin America Schroders#8Schroders 2021 Full-Year Results 8 Long-term growth across our business areas 5-year AUM growth split by business area £bn 250 200 150 100 50 0 +120% 24.4 53.7 Private Assets and Alternatives +120% 90.1 198.1 Solutions +29% 90.1 116.0 Mutual Funds 2016 2021 +17% 141.8 166.2 Institutional +105% 39.6 81.2 Wealth Management +72% 67.6 116.4 Joint ventures and associates Schroders#9Schroders 2021 Full-Year Results Closer proximity to consumers Wealth Management achieved an organic growth rate of 6% Annual AUM and cumulative net flows £bn 100 80 60 40 20 0r 45.9 2017 43.7 2018 AUM 72.0 66.7 ii 2019 2020 Cumulative net flows (rhs) 81.2 2021 £bn 30.0 25.0 20.0 15.0 10.0 5.0 0.0 Net new business of £4.1bn Cazenove Capital £3.1bn Benchmark Capital £0.7bn SPW £0.3bn Schroders#10Schroders 2021 Full-Year Results 10 Grow Asset Management Participating in high growth markets via our JVs & Associates Annual AUM and cumulative net flows £bn 140 120 100 80 60 40 20 0 67.6 2016 61.5 2017 AUM 60.0 2018 5yr AUM CAGR 12% 69.2 2019 88.6 Note: Joint ventures and associates includes BOCOM Schroders, Axis, A10 and others. 2020 Cumulative net new business (rhs) 116.4 2021 £bn 60 50 40 30 20 10 0 Axis' market share now 6.7% and 7th largest by AUM BOCOM FMC venture AUM up 32% yoy WMC licence to operate received in January 2022 Schroders#11Schroders 2021 Full-Year Results 11 A leader in the transition to a sustainable world Positively contributing to profits For our clients £5.7bn of Article 8 & 9 net new business in 2021 Agreed to acquire 75% of Greencoat Capital A leading European renewable infrastructure manager 2,000+ engagements with companies in 2021 Published our path to Net Zero for our business and for our investments £60.5bn of AUM in Article 8 & 9 funds For our business Signatory to the Natural Capital Investment Alliance MSCI ESG Rating of AAA in the top 3% of our sector with a consistent score for more than 5 years 94% retention of highly-rated employees 95% proud to work for Schroders A- rating by CDP Largest asset manager (by AUM) to have a validated science- based target Sustainalytics ESG risk rating of 18.7 Low risk and in the top 14% for diversified financials Schroders#12Schroders 2021 Full-Year Results 12 T Expand Private Assets & Alternatives Private Assets and Alternatives AUM up 16% yoy driven by strong NNB Assets under management £bn 60 50 40 30 20 10 0r £24.4bn 2016 CAGR +17% £53.7bn 2021 Infrastructure Real Estate Private Equity Insurance-linked Private and Structured Credit Impact Investing (Blue Orchard) Alternatives Private Assets and Alternatives generated £6.9bn of NNB Schroders Capital generated £7.4bn of NNB £2.5bn of dry powder (not included in AUM) Schroders#13Schroders 2021 Full-Year Results 13 Diversification towards higher longevity areas is paying off Gross outflows as a percentage of beginning AUM £bn 700 600 500 400 300 200 100 0 25% 24% 2017 23% LLL L 2016 2018 AUM (beginning of period) 22% Note: Analysis excludes joint ventures and associates. 2019 Gross outflows 21% 2020 18% 2021 Gross outflow rate (rhs) 28% 26% 24% 22% 20% 18% 16% 14% 12% 10% Gross outflow rate dropped to 18% Longevity of 4.1 years in 2016 Longevity of 5.3 years in 2021 Schroders#14Schroders 2021 Full-Year Results Strategic acquisitions to generate future growth Leading fiduciary management business in the UK - - River & Mercantile's solutions business £43.1bn of AUM - Enables further Solutions growth Well respected team with a strong track record Access to high growth pension fund market Stable flow picture Completed January 2022 Greencoat Capital £6.8bn of AUM Leading European renewable infrastructure manager - Supporting the energy transition towards net zero Enhances our leadership position in sustainability Significant growth opportunities in the US and Europe Completion expected Q2 2022 14 Note: River & Mercantile and Cairn AUM as at 31 January 2022, Greencoat AUM as at 31 December 2021. Dutch Real Estate manager - Cairn Real Estate €1.3bn of AUM - Expand our Real Estate offering in key European growth market Pan-European Real Estate capability Completed January 2022 Schroders#15Schroders 2021 Full-Year Results 15 The virtuous cycle of investing for growth Building a platform that unlocks other opportunities - Closer proximity to consumers UK regional Wealth build-out Family office capability Schroders Personal Wealth - - I Grow Asset Management River & Mercantile's solutions business Continued ESG and impact leadership Strong pipeline of ESG fund launches Onshore China build out WMC venture with BOCOM GD - Expand Private Assets and Alternatives Strength of Schroders Capital's platform set for growth Cairn Greencoat Capital Schroders#16Strategy in action Record AUM of £731.6bn +10% year-on-year 95% of people proud to be associated with Schroders 79% of assets outperforming over 3 years SPW NNB now positive Basic EPS increased 28% to 220.8p Launched 14 new sustainable funds in 2021 ESG Article 8 & 9 funds £60.5bn of AUM £5.7bn of NNB Acquiring 75% of Greencoat Capital £6.8bn AUM Wealth Management 6% organic growth rate Thematic strategies £10.3bn of AUM £4.4bn of NNB Americas now £100bn of AUM Benchmark profits up 89% year on year Latin America now exceeds £11bn of AUM and £2.1bn of NNB Schroders Capital £7.4bn of NNB River & Mercantile's solutions business adding £43.1bn of AUM Schroders £35.3bn of net inflows £19.1bn of NNB into higher margin business areas Strategic acquisition of Cairn €1.3bn WMC venture approved to start operating#17Schroders 2021 Full-Year Results Richard Keers Chief Financial Officer 3 March 2022 fadye Marketing material for professional clients only#18Schroders 2021 Full-Year Results 18 Profit before tax and exceptional items reached a new high of £836.2 million Net income Operating expenses Profit before tax and exceptional items Note: Financial summary table is before exceptional items. ¹After exceptional items. 2Excluding Asset Management associates and joint ventures. 2021 £m 2,568.8 1,732.6 836.2 2020 Change £m 2,179.2 1,476.9 702.3 18% 17% 19% Profit after tax¹ +28% to £623.8m Average AUM² +15% to £597.0bn Schroders#19Schroders 2021 Full-Year Results 9 Net income increased by 18% from £2.2bn to £2.6bn¹ Net income bridge £m Segmental net income 2,228 383 1,787 FY 2020 Markets, FX and mix 204 58 Net new business 101 Performance fees and net carried interest 31 Real estate Banking transaction interest (3) fees Acquisitions 8 8 Items impacting Net Operating Revenue Group Asset Management Net investment gains 16 ¹Before exceptional items. 2Before exceptional items and excluding SPW, which is proportionally consolidated within Wealth Management. Associates and joint ventures² 25 Wealth Management Other income Segmental net income 2,620 2 434 2,138 FY 2021 SPW adjustment (51) 48 Group net income 2,569 FY 2021 Schroders#20Schroders 2021 Full-Year Results 20 Another year of generating strong performance fees and net carried interest income Five year performance £m 140 120 100 80 60 40 20 0 78.4 2017 55.0 2018 73.1 2019 Net carried interest income Performance fees 3 year average performance fees and net carried interest income 95.7 2020 126.3 2021 Three year rolling average £98.4m up from £74.6m Schroders#21Schroders 2021 Full-Year Results 21 Wealth Management net operating revenue up 15% Net operating revenue¹ £m 400 300 200 100 0 302.1 38.5 239.6 24.0 366.9 43.7 309.1 14.1 2019 2020 Net banking interest income Transaction and performance fees Management fees 420.8 36.6 373.1 2021 11.1 Net new business and annualised net new revenue (NNB and ANNR) NNB £bn 5 4 3 2 1 0 (1) Q1 Q2 Q3 Q4 Q1 Q2 Q3 2020 Net new business Cumulative annualised net new revenue ¹Includes £60.8m (FY 2020: £54.5m; FY 2019: £12.8m) relating to the proportional consolidation of SPW. 2021 Q4 ANNR £m 5⁰0 40 30 20 10 (10) Net operating revenue margin² 55bps FY 2020: 56bps 2Excluding performance fees. Average AUM £76.1bn FY 2020: £65.lbn Schroders#22Schroders 2021 Full-Year Results 22 Private Assets and Alternatives net operating revenue up 20% Net operating revenue £m 350 300 250 200 150 100 50 0 300.2 29.3 19.4 251.5 293.3 280.4 9.5 3.4 350.7 44.0 295.6 2019 2020 Performance fees and net carried interest Real estate transaction fees Management fees 2021 11.1 Net new business and annualised net new revenue (NNB and ANNR) NNB £bn LO 5 4 3 2 1 0 (1) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2020 Net new business Cumulative annualised net new revenue ANNR £m 50 40 30 20 10 O (10) Net operating revenue margin¹ 62bps FY 2020: 62bps ¹Excluding performance fees and net carried interest. Average AUM £49.1bn FY 2020 £45.0bn Schroders#23Schroders 2021 Full-Year Results 23 Solutions net operating revenue up 9% Net operating revenue £m 300 250 200 150 100 50 0r 226.1 2019 253.0 2020 Management fees 276.4 2021 Net new business and annualised net new revenue (NNB and ANNR) NNB £bn 35 25 15 5 (5) Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2020 Net new business Cumulative annualised net new revenue Q4 ANNR £m 35 25 15 5 (5) Net operating revenue margin 14bps FY 2020: 15bps Average AUM £193.2bn FY 2020: £172.8bn Schroders#24Schroders 2021 Full-Year Results 24 Mutual Funds net operating revenue up 19% Net operating revenue £m 750 500 250 0r 734.8 731.3 2019 3.5 Management fees 686.4 675.5 2020 10.9 815.0 811.6 2021 Performance fees 3.4 Net new business and annualised net new revenue (NNB and ANNR) NNB £bn 5 3 1 (1) (3) (5) Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2020 Net new business Cumulative annualised net new revenue Q4 ANNR £m 50 30 10 (10) (30) (50) Net operating revenue margin¹ 72bps FY 2020: 71bps ¹Excluding performance fees. Average AUM £112.8bn FY 2020 £94.5bn Schroders#25Schroders 2021 Full-Year Results 25 Institutional net operating revenues up 17% Net operating revenue £m 600 500 400 300 200 100 0 502.0 39.4 462.6 2019 Management fees 514.5 74.2 440.3 2020 601.0 78.7 522.3 2021 Performance fees Net new business and annualised net new revenue (NNB and ANNR) NNB £bn 2 1 0 (1) (2) (3) Q1 Q2 Q3 Q4 Q1 Q2 ¶ Q3 2020 Net new business Cumulative annualised net new revenue 2021 ANNR £m Q4 20 10 O (10) (20) (30) Net operating revenue margin¹ 31bps FY 2020: 31bps ¹Excluding performance fees. Average AUM £165.9bn FY 2020 £143.4bn Schroders#26Schroders 2021 Full-Year Results Net income increased by 18% from £2.2bn to £2.6bn¹ Net income bridge £m Segmental net income 2,228 383 1,787 FY 2020 Markets, FX and mix 204 58 Net new business 101 Performance fees and net carried interest 31 Real estate Banking transaction interest (3) fees Acquisitions 8 8 Items impacting Net Operating Revenue Group Asset Management Net investment gains 16 ¹Before exceptional items. 26 2Before exceptional items and excluding SPW, which is proportionally consolidated within Wealth Management. Associates and joint ventures² 25 Wealth Management Other income Segmental net income 2,620 2 434 2,138 FY 2021 SPW adjustment (51) 48 Group net income 2,569 FY 2021 Schroders#27Schroders 2021 Full-Year Results Share of profit of joint ventures and associates up 48% Share of profit joint ventures and associates and AUM £m 100 75 50 25 21.5 2016 23.5 CAGR 28% 19.9 28.6 2019 50.6 2017 2018 2020 ■Share of profit joint ventures and associates 75.1 2021 Total Revenue (£m) Total Profit (£m) Group's share of profit (£m) Contribution to Group's PAT Revenue margin¹ AUM £bn Total Revenue (£m) Total Profit (£m) Group's share of profit (£m) Contribution to Group's PAT Revenue margin¹ AUM £bn BoCom 355.2 201.4 60.4 BoCom 263.3 141.7 42.5 Note: Joint ventures and associates share of profit is before exceptional items and excluding SPW, which is proportionally consolidated within Wealth Management. 27 ¹Includes performance fees. FY 2021 Axis Other Total 95.5 79.4 36.7 22.2 530.1 260.3 75.1 9.2 5.5 11% 39bps 116.4 Axis 57.4 22.7 5.7 FY 2020 Other Total 57.4 378.1 8.1 172.5 50.6 2.4 9% 35bps 88.6 Schroders#28Schroders 2021 Full-Year Results 28 Cost income ratio improved by 1% over the year Operating expenses £m 2,000 1,500 1,000 500 0 1,548.1 502.2 974.7 2020 Compensation costs Exceptional items 71.2 1,782.5 ¹Excluding associates and joint ventures. 2Before exceptional items. 564.5 1,168.1 2021 Non-compensation costs 49.9 Average AUM¹ and non-compensation costs² £bn 600 500 400 300 200 100 0 346.6 10.3 410.8 9.4 433.1 441.8 11.2 10.6 520.8 597.0 9.6 9.5 2016 2017 2018 2019 2020 2021 bps 13 12 11 10 9 ∞ Average AUM Non-compensation costs as percentage of average AUM Total compensation ratio 45% FY 2020: 45% Ratio of total cost to net income 67% FY 2020: 68% Schroders#29Schroders 2021 Full-Year Results 29 Cloud migration programme Investing for future operational leverage Benefits E ↓ Improved speed to market Better data and insights Enhanced cyber security Reduced emissions W III # III. GO00 Financial impact Migrate majority of estate within 2 years Significant reduction in on-premise infrastructure Will drive a saving of c. £15m p.a. from 2024 Improved operational leverage Schroders#30Schroders 2021 Full-Year Results 30 Cost income ratio improved by 1% over the year Operating expenses £m 2,000 1,500 1,000 500 0 1,548.1 502.2 974.7 2020 Compensation costs Exceptional items 71.2 1,782.5 ¹Excluding associates and joint ventures. 2Before exceptional items. 564.5 1,168.1 2021 Non-compensation costs 49.9 Average AUM¹ and non-compensation costs² £bn 600 500 400 300 200 100 0 346.6 10.3 410.8 9.4 433.1 441.8 11.2 10.6 520.8 597.0 9.6 9.5 2016 2017 2018 2019 2020 2021 bps 13 12 11 10 9 ∞ Average AUM Non-compensation costs as percentage of average AUM Total compensation ratio 45% FY 2020: 45% Ratio of total cost to net income 67% FY 2020: 68% Schroders#31Schroders 2021 Full-Year Results A strong capital position Capital base £m 4,000 3,000 2,000 1,000 4,086 1,231 216 1,130 1,509 31 December 2020 Capital surplus Overall regulatory capital requirement 4,426 1,454 233 1,220 1,519 31 December 2021 Dividend¹ Other items² Capital allocation £m 4,086 1,548 612 320 1,509 31 December 2020 97 Working capital - regulatory and other Working capital - seed and co-investment Investment capital – liquid 4,426 ¹Final dividend proposed for the respective year. 31 ²Comprises items that are inadmissible for regulatory purposes, principally goodwill, intangible assets, minority interest in certain subsidiaries and pension scheme surplus. 1,403 666 780 31 December 2021 1,519 58 4,000 3,000 2,000 1,000 0 Investment capital - illiquid Other items² Schroders#32Schroders 2021 Full-Year Results 32 A strong set of results for 2021 Profit before tax¹ £m 702.3 FY 2020 Basic EPS² +28% to 220.8p ¹Before exceptional items. 2After exceptional items. 836.2 FY 2021 Profit after tax² £m 486.0 FY 2020 623.8 FY 2021 Final dividend increased to 85p Schroders#33Schroders Outlook and questions Peter Harrison Group Chief Executive 3 March 2022 fadye Marketing material for professional clients only#34Outlook for 2022 and beyond Schroders Capital to generate £7-10 billion of net new business p.a. Mutual fund products are now highly attractive: sustainability, thematics Wealth set to generate 5% net new business p.a. Schroders Solutions building a strong pipeline Schroders WMC launched and JVs and associates in secular growth The macro environment is always uncertain#35Schroders Forward looking statement These presentation slides may contain forward-looking statements with respect to the financial condition, performance and position, strategy, results of operations and businesses of the Schroders Group. Such statements and forecasts involve risk and uncertainty because they are based on current expectations and assumptions but relate to events and depend upon circumstances in the future and you should not place reliance on them. Without limitation, any statements preceded or followed by or that include the words 'targets', 'plans', 'sees', 'believes', 'foresee', 'expects', 'aims', 'confident', 'will have', 'will be', 'will ensure', 'likely', 'estimates' or 'anticipates' or the negative of these terms or other similar terms are intended to identify such forward-looking statements. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by forward-looking statements and forecasts. Forward-looking statements and forecasts are based on the Directors' current view and information known to them at the date of this statement. The Directors do not make any undertaking to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Nothing in these presentation slides should be construed as a forecast, estimate or projection of future financial performance. fadye