Emerging Markets Investment Overview

Remuneration philosophy Ashmore . Consistent philosophy aligned with cyclical profits and protects returns to shareholders through market cycles Clear link between pay and performance 100% • Applies to all Group employees, underpins strong team-based culture and employee retention 80% 60% • RemCo determines awards for Directors but also significant number of senior employees 40% 20% Principal features • Low salary cap • Single profit-based bonus pool capped at 25% • No separate LTIP 0% -20% -40% -60% 1 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 ■Revenues YoY ■Bonus pool YoY • Performance-based awards, taking both firm and individual performance into account Strong alignment of interests over long-term • • Compulsory minimum deferral into equity with five-year vest Opportunity for employees to forgo cash in return for equity . Restricted shares entitled to ordinary dividends . • Employee benefit trust purchases shares to mitigate dilution Average length of senior employee service is 12 years Equity deferral and opportunity to increase alignment ■Cash Initial award £60 £40 = £100 Opportunity £30 £40 £60 = £130 ■Restricted shares ■Bonus & matching shares from commuted cash 16

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