Emerging Markets Strategic Initiatives

Seed capital supports growth • • Seed capital investments support Ashmore's growth: - Create marketable investment track record Establish new distribution channels Provide additional scale to funds for intermediaries - Support initial development of local asset management platforms Actively-managed programme with Board-approved processes and thresholds. In total: More than £900m invested - £670m successfully recycled (72% of invested cost) Seed capital investments create value for shareholders: - 11% of Group AuM (>US$10bn) in funds that have been seeded - More than 20% of Group net management fees delivered by funds that have been seeded ~£200m contribution to profit before tax, realised gains of >£100m Source: Ashmore, Pillar 3 and Group consolidated financial statements Substantial, liquid financial resources 1,000 Ashmore 900 800 700 600 500 400 300 200 100 0 09 Jun- Jun- Jun- 10 11 Jun- Jun- Jun- 12 13 14 Jun- 15 Jun- 16 Jun- Jun- Jun- Jun- Jun- 17 18 19 20 21 Market value Cumulative seed invested Cumulative seed redeemed 18

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