Liontrust Asset Management Plc (LIO:LN)

Financials/Asset Managers and Custodians Price: 2,120.00 GBX Report Date: September 29, 2021 Business Description and Key Statistics

Liontrust Asset Management is a holding company. Through its Current YTY % Chg subsidiaries, Co. is operating in investment management. Co.'s subsidiaries include: Liontrust Fund Partners LLP, which is a Revenue LFY (M) 175 41.2 financial services organization managing unit trusts; Liontrust EPS Diluted LFY 0.46 93.8 Investment Partners LLP, which is a financial services organization providing investment management services to investors directly, Market Value (M) 1,281 through investment consultants and through other advisers; Liontrust Investment Management Ltd, which is a financial services Shares Outstanding LFY (000) 60,403 organization managing unit trusts and ICVC; and Liontrust Book Value Per Share 2.70 International Luxembourg S.A., which is a distribution business. EBITDA Margin %

Net Margin % 14.7 Website: www.liontrust.co.uk Long-Term Debt / Capital % ICB Industry: Financials Dividends and Yield TTM 0.35 - 1.65% ICB Subsector: Asset Managers and Custodians Payout Ratio TTM % 75.7 Address: 2 Savoy Court London 60-Day Average Volume (000) 205 GBR 52-Week High & Low 2,485.00 - 1,185.00 Employees: 205 Price / 52-Week High & Low 0.85 - 1.79

Price, Moving Averages & Volume

2,550.0 2,550.0 Liontrust Asset Management Plc is currently trading at 2,120.00 which is 5.5% below 2,371.3 2,371.3 its 50 day moving average price of 2,243.10 and 27.4% 2,192.5 2,192.5 above its 200 day moving average price of 1,663.70.

2,013.8 2,013.8 LIO:LN is currently 14.7% below its 52-week high price of 2,485.00 and is 78.9% above 1,835.0 1,835.0 its 52-week low price of 1,185.00. Over the past 52- 1,656.3 1,656.3 weeks, LIO:LN is up 77.4% while on a calendar year-to- date basis it is up 63.1%. 1,477.5 1,477.5 The Relative Strength Index (RSI) indicator for LIO:LN is 1,298.8 1,298.8 currently 33.7. An RSI value of 70 and above is considered 1,120.0 1,120.0 overbought and 30 and below 10/20 11/20 12/20 1/21 2/21 3/21 4/21 5/21 6/21 7/21 8/21 9/21 oversold. Volume (000) 2,821 2,821

2,116 2,116

1,410 1,410

705 705

Mean (167.01) 0 0 10/20 11/20 12/20 1/21 2/21 3/21 4/21 5/21 6/21 7/21 8/21 9/21

Price Price (50-Day Simple Moving Average) Price (200-Day Simple Moving Average)

Financials/Asset Managers and Custodians Price: 2,120.00 GBX Report Date: September 29, 2021 Price Performance, Technical Indicators & Risk Metrics

Difference Price Performance % Change vs FTSE 350 Technical Indicators 1-Day % 0.47 -0.48 50-Day Average Price 2243.10 1-Week % -9.21 -10.33 Price / 50-Day Average 0.95 4-Week % -12.94 -12.08 200-Day Average Price 1663.70 52-Week % 77.41 54.46 Price / 200-Day Average 1.27 RSI - Relative Strength Index 33.70 Quarter-to-Date % 12.77 12.29

Year-to-Date % 63.08 52.53 Risk Metrics Last Month % 12.17 10.25 Price Volatility 121.02 Last Quarter % 32.39 27.72 Sharpe Ratio 0.39 Last Calendar Year % 18.18 31.17 Sortino Ratio 0.93

5-Year Price Performance vs. FTSE 350

Liontrust Asset Management Plc Current: 6.14 CAGR: 44.0% Over the past five years, FTSE 350 Index Current: 1.20 CAGR: 3.8% Liontrust Asset Management Plc's stock price is up 514.5% 7.4 7.4 which is 494.3% above the FTSE 350 Index performance of 20.2% over the same 6.9 6.9 period. Liontrust Asset Management Plc's cumulative 6.3 6.3 annualized growth rate LIO:LN (CAGR) over the five year period has been 44.0% while 5.7 5.7 that of the FTSE 350 Index has been 3.8%.

5.1 5.1 Over the past year, Liontrust Asset Management Plc's stock 4.6 4.6 price performance of 77.4% has outperformed that of the FTSE 350 Index by 54.5%. 4.0 4.0 On a year-to-date basis, Liontrust Asset Management 3.4 3.4 Plc's stock price performance of 63.1% has outperformed the FTSE 350 Index by 52.5%. 2.8 2.8 Over the past week, Liontrust Asset Management Plc's stock 2.3 2.3 price performance of -9.2% has underperformed that of 1.7 1.7 the FTSE 350 Index by 10.3%.

^NMX:LN 1.1 1.1

0.5 0.5 2017 2018 2019 2020 2021 2022

Financials/Asset Managers and Custodians Price: 2,120.00 GBX Report Date: September 29, 2021 Growth and Profitability Metrics

5-Year 10-Year Historical Growth 3-Year 5-Year 10-Year Profitability Current Average Average Revenues % 31.6 31.2 33.3 Gross Margin % Revenues Per Share % 24.9 26.2 26.9 EBITDA Margin % EBITDA % Pre-Tax Margin % EPS Diluted % 40.2 23.6 999.9 Net Margin % 14.7 13.1 7.7 Free Cash Flow % 15.0 35.5 999.9 Return on Equity % 24.5 26.0 16.5 Cash from Operations % 21.1 40.8 999.9 Return on Capital % 24.0 26.5 16.9 Book Value % 40.5 36.3 20.1 Return on Assets % 7.7 9.2 5.9

Revenue (M) Liontrust Asset Management Plc's cumulative annualized Current: 175.08 Median: 97.56 High: 175.08 Low: 51.51 CAGR: 35.8% revenue growth rate over the 199.8 199.8 175.1 charted period is 35.8%. This compares to cumulatative 148.3 148.3 124.0 annualized growth of 31.6% over the past 3 years. 97.6 96.8 76.9 96.8 51.5 45.3 45.3 2016 2017 2018 2019 2020 2021 Liontrust Asset Management EPS Diluted Plc's cumulative annualized Current: 0.46 Median: 0.24 High: 0.46 Low: 0.15 CAGR: 32.3% EPS growth rate over the 0.52 0.52 charted period is 32.3%. This 0.46 compares to cumulatative 0.39 0.39 annualized growth of 40.2% 0.33 over the past 3 years. 0.26 0.24 0.26 0.17 0.15 0.13 0.13 2016 2017 2018 2019 2020 2021

Net Profit Margin % Liontrust Asset Management Plc's net profit margin of Current: 14.69 Median: 12.86 High: 17.34 Low: 10.11 CAGR: 1.6% 14.7% is 1.7% above the 17.7 17.7 period's mean net margin of 13.0%. During the charted 15.1 15.1 period, the observed net profit Mean (13.00) margin high and low were 12.4 12.4 17.3% and 10.1% respectively.

9.7 9.7 2016 2017 2018 2019 2020 2021 Liontrust Asset Management Return on Equity % Plc's return on equity of 24.5% Current: 24.50 Median: 26.25 High: 32.30 Low: 19.40 CAGR: -1.6% is 1.5% below the period's 32.9 32.9 mean return on equity of 26.0%. During the charted 28.2 28.2 period, the observed ROE Mean (25.97) high and low were 32.3% and 19.4% respectively. 23.5 23.5

18.8 18.8 2016 2017 2018 2019 2020 2021

Financials/Asset Managers and Custodians Price: 2,120.00 GBX Report Date: September 29, 2021 Valuation Metrics

5-Year 10-Year 5-Year 10-Year Current Median Median Current Median Median

Price / EPS TTM 45.8 31.7 32.4 Earnings Yield % 2.01 3.17 3.09

Price / Sales 6.7 3.9 3.5 Free Cash Flow Yield % 3.67 5.28 5.29

Price / Operating Cash Flow Dividend Yield % 1.65 2.88

Price / Book Value 7.8 7.3 5.9 Enterprise Value / EBITDA

Price / EPS TTM Liontrust Asset Management Plc is trading at 45.84 times its Current: 45.84 Median: 31.72 High: 60.75 Low: 18.43 CAGR: 15.5% EPS generated during the 62.9 62.9 latest fiscal year. This multiple is above the historically 47.3 47.3 observed median of 31.72, while high and low observations have been 60.75 Median (31.72) 31.8 31.8 and 18.43.

16.3 16.3 2016 2017 2018 2019 2020 2021 Price / Sales Liontrust Asset Management Plc is trading at a Price to Current: 6.73 Median: 3.86 High: 7.80 Low: 2.93 CAGR: 15.7% Sales ratio of 6.73 based on 8.04 8.04 sales generated during the latest fiscal year. This ratio is 6.26 6.26 above the historically observed median ratio of 3.86, while high and low observations 4.47 4.47 have been 7.80 and 2.93. Median (3.86)

2.69 2.69 2016 2017 2018 2019 2020 2021 Liontrust Asset Management Price / Book Value Plc is trading at a Price to Current: 7.84 Median: 7.28 High: 12.19 Low: 5.35 CAGR: 5.6% Book ratio of 7.84 based on 12.5 12.5 book value at the latest fiscal year end. This ratio is above the historically observed 10.0 10.0 median of 7.28, while high and low observations have been 7.5 Median (7.28) 7.5 12.19 and 5.35.

5.0 5.0 2016 2017 2018 2019 2020 2021 Liontrust Asset Management Free Cash Flow Yield % Plc has a Free Cash Flow Current: 3.67 Median: 5.28 High: 9.22 Low: 2.46 CAGR: -9.2% Yield of 3.67% based on free 9.6 9.6 cash flow generated during the latest fiscal year. This value is below the historically observed 7.1 7.1 median yield of 5.28%, while Median (5.28) high and low observations 4.6 4.6 have been 9.22 and 2.46.

2.1 2.1 2016 2017 2018 2019 2020 2021

Financials/Asset Managers and Custodians Price: 2,120.00 GBX Report Date: September 29, 2021 Dividends Data

Dividends Per Share TTM 0.35 Payout Ratio TTM % 75.68% Dividend Yield TTM % 1.65%

Rate Ex Date Record Date Payment Date Currency Note 0.110 03-12-2020 04-12-2020 08-01-2021 GBP 1ST INTERIM GROSS 0.240 16-07-2020 17-07-2020 21-08-2020 GBP 2ND INTERIM GROSS 0.090 28-11-2019 29-11-2019 03-01-2020 GBP 1ST INTERIM GROSS 0.200 04-07-2019 05-07-2019 09-08-2019 GBP 2ND INTERIM GROSS 0.070 29-11-2018 30-11-2018 04-01-2019 GBP 1ST INTERIM GROSS 0.160 05-07-2018 06-07-2018 10-08-2018 GBP 2ND INTERIM GROSS 0.050 30-11-2017 01-12-2017 12-01-2018 GBP 1ST INTERIM GROSS 0.110 22-06-2017 23-06-2017 19-07-2017 GBP 2ND INTERIM GROSS 0.040 24-11-2016 25-11-2016 22-12-2016 GBP INTERIM GROSS 0.090 23-06-2016 24-06-2016 21-07-2016 GBP 2ND INTERIM GROSS 0.030 19-11-2015 20-11-2015 17-12-2015 GBP INTERIM NET

Dividend Growth and Yield

Dividends Per Share TTM Liontrust Asset Management Plc's trailing 12-month Current: 0.35 Median: 0.23 High: 0.35 Low: 0.05 CAGR: 24.6% dividend per share is 0.35 and 0.37 0.37 its dividend has grown at a cumulative annualized rate of 0.31 0.31 24.6% over the charted period. This compares to 0.26 0.26 dividend growth of 20.70% over the past year and cumulative annualized growth 0.20 0.20 of 91.30% over the past 3 years. 0.15 0.15

0.09 0.09

0.04 0.04 2016 2017 2018 2019 2020 2021

Dividend Yield TTM % Liontrust Asset Management Plc's current dividend yield is Current: 1.65 Median: 2.87 High: 3.97 Low: 0.74 CAGR: -13.9% 1.65% based on trailing 12 4.13 4.13 month dividends. The current yield is below the historically 3.54 3.54 observed median of 2.87% and, over the charted time 2.95 2.95 period, the observed high yield has been 3.97% and the observed low yield has been 2.35 2.35 0.74%.

1.76 1.76

1.17 1.17

0.58 0.58 2016 2017 2018 2019 2020 2021

Financials/Asset Managers and Custodians Price: 2,120.00 GBX Report Date: September 29, 2021 ICB Subsector Peer Comparisons

Price Change Year to Date % Price Change Last Calendar Year % -20.6 1.3 23.2 45.2 67.1 -27.3 -15.4 -3.5 8.4 20.3

Liontrust Asset Management Plc 63.1 Liontrust Asset Management Plc 18.2

St James's Place PLC 33.4 Intermediate Capital Group Plc 7.2

Intermediate Capital Group Plc 17.6 3i Group Plc 5.5

Peer Group Average 16.6 Peer Group Average -2.4

3i Group Plc 10.0 St James's Place PLC -2.7

Schroders PLC 7.0 Schroders PLC -9.3

Hargreaves Lansdown Plc, Bristol -5.6 abrdn plc -14.3

abrdn plc -9.3 Hargreaves Lansdown Plc, Bristol -21.2

-20.6 1.3 23.2 45.2 67.1 -27.3 -15.4 -3.5 8.4 20.3

Price / EPS TTM Price / Book Value 0.0 14.3 28.7 43.0 57.4 0.0 3.2 6.4 9.6 12.8

St James's Place PLC 55.0 Hargreaves Lansdown Plc, Bristol 12.2 Liontrust Asset Management Plc 45.8 St James's Place PLC 8.5 Partners Group Holding AG 23.9 Partners Group Holding AG 8.4 Hargreaves Lansdown Plc, Bristol 21.8 Liontrust Asset Management Plc 7.8 Peer Group Average 20.4 Peer Group Average 4.4 Julius Baer Group Ltd 19.1 Intermediate Capital Group Plc 3.7 Schroders PLC 13.9 Julius Baer Group Ltd 2.1 Intermediate Capital Group Plc 12.9 Schroders PLC 1.8 Janus Henderson Group Plc 9.9 3i Group Plc 1.4 UBS Group AG 8.8 Janus Henderson Group Plc 1.2 abrdn plc 6.9 UBS Group AG 1.0 3i Group Plc 6.6 abrdn plc 0.8 0.0 14.3 28.7 43.0 57.4 0.0 3.2 6.4 9.6 12.8

EPS 5-Year Growth Rate % Revenue 5-Year Growth Rate % -19.9 -3.7 12.6 28.8 45.1 -23.9 -9.5 5.0 19.4 33.8

Julius Baer Group Ltd 42.1 Liontrust Asset Management Plc 31.2 Intermediate Capital Group Plc 30.3 St James's Place PLC 29.4 Liontrust Asset Management Plc 23.6 3i Group Plc 18.5 3i Group Plc 17.6 Janus Henderson Group Plc 18.4 Partners Group Holding AG 15.5 Partners Group Holding AG 18.1 Hargreaves Lansdown Plc, Bristol 14.8 Intermediate Capital Group Plc 13.0 Peer Group Average 13.1 Peer Group Average 11.9 Janus Henderson Group Plc 7.7 Hargreaves Lansdown Plc, Bristol 6.9 UBS Group AG 5.8 Julius Baer Group Ltd 5.9 Schroders PLC 3.5 Schroders PLC 5.9 St James's Place PLC -5.2 UBS Group AG 0.6 abrdn plc -11.6 abrdn plc -16.5 -19.9 -3.7 12.6 28.8 45.1 -23.9 -9.5 5.0 19.4 33.8

Financials/Asset Managers and Custodians Price: 2,120.00 GBX Report Date: September 29, 2021 Abbreviations: CAGR - Cumulative annual growth rate. EBIT - Earnings before interest and taxes. EBITDA - Earnings before interest, taxes, depreciation & amortization. LFY - Last fiscal year M - Million LON - London Stock Exchange

Definitions: Market Value - Weekly Price times latest Shares Outstanding times any applicable ADR factor. Revenue - Sum of the last four quarters of Revenues. Revenue Per Share - Sum of the last four quarters of Total Revenue divided by Weighted Average Shares Outstanding. Operating EPS LFY - EPS excluding non-recurring, non-operating items, fiscal year aligned TTM value. 60-Day Average Volume (000) - The average of the last 60 daily volume values in thousands of shares. Price 52-Week High - The high closing price from the last 52 weeks of daily closing prices. Price 52-Week Low - The low closing price from the last 52 weeks of daily closing prices. Price / 52-Week High - Latest price divided by the high price from the past 52 weeks of daily closing prices. Price / 52-Week Low - Latest price divided by the low price from the past 52 weeks of daily closing prices. 50-Day Average Price - Mean of last 50 daily closing prices. 200-Day Average Price - Mean of last 200 daily closing prices. Price / 50-Day Average Price - Latest closing price divided by mean of last 50 daily closing prices, as a percentage. Price / 200-Day Average Price - Latest closing price divided by mean of last 200 daily closing prices, as a percentage. Relative Strength Index - Relative Strength Index or RSI measures the magnitude of gains over a given time period against the magnitude of losses over that period. The equation is RSI = 100 - 100 / (1 + RS) where RS = (total gains / n) / (total losses / n) and n = number of RSI periods. In this item, 14 days is used and one year of daily prices are considered. A value of 30 or below may imply oversold and 70 or above may imply overbought. Price Volatility - The standard deviation of the last 20 days of daily closing prices. Sharpe Ratio - The 5 year average of the excess monthly return over the risk - free rate(1 - month T - bill) over the 5 year standard deviation of the same series. Sortino Ratio - The same calculation as the Sharpe Ratio but with positive excess returns set to zero for the standard deviation denominator, so only negative volatility weighs in. Dividends Per Share TTM - Sum of the last four quarters of Dividends Per Share. Payout Ratio - Dividends Per Share TTM divided by Operating EPS TTM. Dividend Yield TTM % - Sum of the last four quarter of Dividends Per Share divided by Weekly Price. EBITDA - Sum of the last four quarters of EBITDA (Operating Income + Depreciation & Amortization). Free Cash Flow - Sum of the last four quarters Net Cash from Operations minus Capital Expenditures (Purchase of Property, Plant & Equipment), from the Cash Flow Statement. Book Value Per Share - Total Common Equity last quarter divided by Shares Outstanding last quarter. Gross Margin % - Sum of the last four quarters Gross Profit divided by the sum of the last four quarters Revenues. EBITDA Margin % - Sum of the last four quarters EBITDA divided by the sum of the last four quarters Revenues. Pre-Tax Margin % - Sum of the last four quarters of Earnings Before Taxes divided by sum of the last four quarters Revenues. Net Profit Margin % - Sum of the last four quarters of Operating EPS divided by sum of the last four quarters Revenues Per Share. Return on Equity % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Book Value. Return on Capital % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Total Capital Per Share. Return on Assets % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Total Assets Per Share. Price / EPS TTM - Weekly Price divided by the sum of the last four quarters of Operating EPS (capped at 99.9). Price / Sales - Weekly Price divided by Revenues Per Share TTM. Price / Book Value - Weekly Price divided by Book Value Per Share last quarter. Book Value Per Share is Total Common Equity last quarter divided by Shares Outstanding last quarter (capped at 49.9). Free Cash Flow Yield % - Free Cash Flow Per Share TTM divided by Weekly Price. Enterprise Value - Market Value plus Total Debt last year plus Preferred Equity last year minus Cash & Cash Equivalents last year. Enterprise Value / Sales - Enterprise Value divided by the sum of the last four quarters of Revenue. Enterprise Value / EBITDA - Enterprise Value divided by EBITDA TTM. Enterprise Value / EBIT - Enterprise Value divided by trailing four quarters of Operating Income. Enterprise Value / Free Cash Flow- Enterprise Value divided by the sum of the last four quarters of Free Cash Flow. Russell 1000 Index - The largest 1,000 stocks by market cap, the index comprehensively covers the US large cap universe. EPS 5-Year Growth Rate % is capped at 999.9%. Revenue 5-Year Growth Rate % is capped at 999.9%.

Financials/Asset Managers and Custodians Price: 2,120.00 GBX Report Date: September 29, 2021

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