Quilter Regulatory News (QLT)

9 January 2023

Quilter plc

(incorporated with limited liability in England and Wales with Registered Number 06404270)

Legal Entity Identifier (LEI): 54930092XIVK28RZGM95

ANNOUNCES AN UPDATE ON RECENT MATTERS AND A SERIES OF FIXED INCOME MEETINGS

Recent Matters

Quilter plc is in the process of preparing its year-end financial statements. Based on preliminary (unaudited) figures, the Group expects to report full year assets under management and under administration broadly similar to the Q3 2022 position of £96.9 billion (31 December 2021: £111.8 billion), the decrease during the year is due to positive net flows offset by adverse market movements.

Retention rates remain stable and gross flows for the final quarter remain resilient while reflecting the normal seasonality of the business. Therefore, overall, Q4 2022 net flows are expected to be modestly lower than Q3 2022 but remain positive.

All figures in the paragraphs above are expressed on a continuing basis (that is, excluding the divested business of Quilter International Holdings Limited, Quilter International Ireland DAC and their subsidiaries, the sale of which completed on 30 November 2021). References to the Group are to Quilter plc and its subsidiaries.

Fixed Income Meetings

Quilter plc has mandated J.P. Morgan Cazenove as Sole Structuring Agent to the Issuer and BofA Securities, Citi and J.P. Morgan Cazenove as Joint Bookrunners to arrange a series of fixed income meetings. A new sterling-denominated Regulation S Tier 2 bond is likely to follow, subject to market conditions. Relevant stabilisation regulation (including FCA/ICMA) applies.

If issued the Issuer intends to use the proceeds from such Tier 2 bond for its general corporate purposes, including the refinancing of its GBP200,000,000 4.478 per cent. Fixed Rate Reset Subordinated Notes due 2028 (ISIN: XS1713473780).

The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act) and may not be offered, sold or delivered within the United States or to or for the account or benefit of U.S. persons, as defined in Regulation S under the Securities Act.

Manufacturer target market (UK MIFIR product governance rules) is eligible counterparties and professional investors only (all distribution channels). No PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA or the UK.

This communication is not an offer of securities or investments for sale nor a solicitation of an offer to buy securities or investments in any jurisdiction where such offer or solicitation would be unlawful.

Market Abuse Regulation

This announcement contains inside information and is disclosed in accordance with the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). For the purposes of MAR, this announcement is made by Clare Barrett, Company Secretary of Quilter plc.

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About Quilter plc:

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter oversees £96.9 billion in customer investments as at 30 September 2022.

It has an adviser and customer offering spanning: financial advice, investment platforms, multi-asset investment solutions, and discretionary fund management.

The business is being reorganised into two segments: Affluent and High Net Worth.

Affluent encompasses the financial planning businesses, Quilter Financial Planning, the Quilter Investment Platform and Quilter Investors, the multi-asset investment solutions business.

High Net Worth includes the discretionary fund management business, Quilter Cheviot, together with Quilter Private Client Advisers.