IAM's Financial Overview and Growth Strategy

Attractive financial profile Increasing AUM, recurring revenues and cost discipline driving profit growth across cycles Total AUM (£bn) 121 111 104 AUM growth 29 • Long track record of increasing AUM • Driving continued revenue growth FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 HY20 Operating revenue base Operating expense discipline Operating profit growth across cycles 34 Total operating revenue (£m) and management fee rate¹ (bps) 56bps 190 50bps 49bps 48bps 511 541 292 . • High proportion of management fees Diversified sources of revenues FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 HY20 Operating expenses (£m) 129 368 339 198 Cost discipline across the business whilst continuing to invest for growth FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 HY20 Operating profit (£m) and margin (%) 32% 60 34% 32% 32% 171 173 94 Profit growth at attractive margins High cash conversion FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 HY20 Notes: Numbers are shown excluding Silica, net interest income, non-controlling interests and revenue and expenses related to the deferred employee benefit scheme. 1. Fee rate excludes performance fees.

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