Half Year Results Ended 31 March 2021 13 May 2021 Delivering on Our Strategic Priorities

Half year results ended 31 March 2021 13 May 2021 Delivering on our strategic priorities

Relevant Efficient Growth H1 2021 Innovating Accelerate Expand our Investment in Inflows1 our our digital technology distribution £1.6bn propositions agenda channels (H1 2020: £1.5bn)

Income • Voyager fund • Launched new • Avaloq on • Voyager fund £199.9m driving MPS BPS track for range expands (+13.7%) momentum onboarding Autumn platforms to 23 user-experience go-live • Launched our • B2B Adj. PBT first ESG client • Intermediaries • Embedded partnerships solutions digital Client Engage gaining traction £47.0m (+28.8%) onboarding and valuations solutions Interim dividend 4.6p (H1 20: 4.4p)

Creating shareholder value through organic / inorganic growth and operational improvement

1. Total discretionary fund inflows

2 Brewin Dolphin | Half year results Financial review Siobhan Boylan | Chief Financial Officer Funds growth driven by strong inflows and investment performance

Total funds Discretionary funds Discretionary net flows1 (£bn) (£bn) (£bn)

Growth rate2 4.3% 2.5% 2.9% 52.6 45.7 +27% +28% 0.8 0.6 -2% 42.4 41.4 37.5 -5% 35.7 0.5 0.5 Q2

0.1 Q1 H1 2019 H1 2020 H1 2021 H1 2019 H1 2020 H1 2021 H1 2019 H1 2020 H1 2021

Ex-transfers Net flows (£bn) 1.0 0.8 1.0 Growth rate2 (%) 5.3 4.0 4.9

1. Including transfers 2. Annnualised

4 Brewin Dolphin | Half year results Adjusted PBT +29% driven by strong income growth and cost discipline

Total income Total costs1 Adjusted PBT1 (£m) (£m) +10% (£m) +14% 199.9 152.0 47.0 +9% 138.6 +29% +8% 175.8 127.6 162.3 +3% 35.6 36.5

Adjusted margin1 21.9% 20.8% 23.5%

H1 2019 H1 2020 H1 2021 H1 2019 H1 2020 H1 2021 H1 2019 H1 2020 H1 2021

Statutory Adjusted diluted Interim PBT EPS1 dividend +5% 40.7 (£m) (p) 12.5 (p) +44% +32%

29.7 -5% 9.9 -4% 28.2 9.5 4.6 4.4 4.4

H1 2019 H1 2020 H1 2021 H1 2019 H1 2020 H1 2021 H1 2019 H1 2020 H1 2021

1. See adjusted PBT to statutory PBT reconciliation on page 33

5 Brewin Dolphin | Half year results Consistent delivery; record discretionary gross inflows in Q2

Continued strong gross inflows during Covid-19

H1 H1 Total gross inflows £bn 2020 2021 (£bn) H2 2019 H1 2020 H2 2020 H1 2021 Opening discretionary funds 40.1 41.2 0.7 0.8 0.6 0.9 0.8 0.5 0.6 1.0 Inflows 1.5 1.6

Outflows (0.7) (0.6) 0.4 Direct 0.3 0.5 Net new flows 0.8 1.0 0.3 0.4 0.2 0.3 0.3 Intermediaries Transfers (0.3) (0.4) 0.2 0.2 0.2 0.2 0.3 0.3 0.2 Net flows including transfers 0.5 0.6 0.3 0.3 MPS/Voyager 0.2 0.2 0.2 0.1 0.2 0.1 Acquired 1.0 0.0 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Investment performance (5.9) 3.9 Pre-Covid-19 Post-Covid-19 Closing discretionary funds 35.7 45.7 Execution only & BPS 3.9 4.9 • Record Q2 gross inflows of £1bn, across both direct and indirect Advisory 1.8 2.0 • H1 21 annualised growth rate for discretionary net flows 2.9% (Q2 21: 4.5%) Total closing funds 41.4 52.6 • MPS growth supported by successful launch of Brewin Dolphin Voyager Fund MSCI WMA Private Investor 1,423 1,704 Range (H1 21 inflows of c.£140m) Series Balanced Index

6 Brewin Dolphin | Half year results Income growth driven by strong net flows and market recovery

H1 H1 Change Elevated direct commission £m 2020 2021 (%) 126.4 111.1 Direct 111.1 126.4 +14 103.5 +15% 38.2 Commission £m 27.9 33.1 Intermediaries 33.2 36.5 +10 MPS/Voyager 5.2 6.6 +27 Indirect 38.4 43.1 +12 Fees £m 75.6 78.0 88.2

Total discretionary 149.5 169.5 +13 H1 19 H1 20 H1 21 Financial planning 16.4 19.1 +17 Effective direct fee margin (bps) 3 Other income1 9.9 11.3 +14 Total 70.5 71.2 70.3 IM 62.4 62.1 60.4 Total income 175.8 199.9 +14 Advice 8.1 9.1 9.9 £bn (quarter end) Average direct funds 25.4 29.1 +15 Average intermediaries funds 13.4 16.1 +20 • Market recovery has contributed to discretionary income growth of £20m, +13% Average MPS funds 3.9 5.0 +28 Average discretionary funds 38.8 45.1 +16 • H1 21 commission income benefited from elevated trading levels. Expected to reduce in H2 21 Average total funds 45.0 52.0 +16

Quarterly average MSCI PIMFA index2 1,551 1,691 +9 • Financial planning income growth driven by higher market levels and continued growth in demand for our advice-focused services

1. Other income includes interest, report writing, execution only, advisory and rental income 2. Average MSCI PIMFA Private Investor Series Balanced Index • Other income includes £0.7m increase in advisory managed fees YoY (+44%) 3. Revenue margin calculated using funds value as at each quarter’s fee strike date predominantly as a result of an extra month of BDCIIL4 4. Investec Capital & Investments (Ireland) Limited: rebranded to Brewin Dolphin Capital & Investments (Ireland) Limited (‘BDCIIL’)

7 Brewin Dolphin | Half year results Continued investment supporting our growth

H1 H1 Change £m 2020 2021 (%)

Staff costs 70.2 74.3 +6 • Fixed operating costs +3%, due to increase in staff Non-staff costs 40.3 40.0 -1 costs Fixed operating costs 110.5 114.3 +3 • Non-staff costs flat, benefiting from savings associated Variable costs 28.1 37.7 +34 with lockdown restrictions Total costs 138.6 152.0 +10 • Profit share higher driven by increase in income and profit Headcount 1,950 2,082 +7

Total staff costs / income (%) 55.9 56.0 Total staff costs / income (%) excluding holiday 54.9 54.3 accrual Non-staff costs / income (%) 22.9 19.8 Total costs / income (%) 78.8 75.8 Profit share / pre profit share profit (%) 43.0 44.0

Total cost per perm. head (£000)1 67.3 70.3 +4

1. Total costs excludes holiday pay and temporary staff costs, divided by average permanent headcount

8 Brewin Dolphin | Half year results Fixed operating costs +3%, cost discipline through Covid-19

Staff costs 1.6 +6% (£m) 2.1 0.4 +3.5% BAU

• Increase in headcount to support our technology strategy and systems implementation

74.3 72.7 • Extra month of costs incurred by BDCIIL 70.2 • Increased holiday accrual expense related to employees not taking as much holiday in H1 this year due to Covid-19 restrictions

H1 20 Headcount BDCIIL BAU Holiday accrual H1 21

Non-staff costs

(£m) 1.3 0.5 (1)% 2.0

(4.1) • Covid-19 cost savings include travel, entertainment and marketing

40.3 40.0 • H1 21: £1.2m of depreciation for Client Engage

• One additional month and technology costs incurred by BDCIIL

H1 20 Savings Depreciation BDCIIL Other H1 21

9 Brewin Dolphin | Half year results Continued investment supporting our growth

H1 H1 Change £m 2020 2021 (%)

Total staff costs / income (%) 55.9 56.0 Total staff costs / income (%) excluding holiday 54.9 54.3 accrual Operating cost H2 outlook Non-staff costs / income (%) 22.9 19.8 Total costs / income (%) 78.8 75.8 • Holiday accrual to partly reduce Profit share / pre profit share profit (%) 43.0 44.0 • FSCS levy (H2 20 £4.8m) Total cost per perm. head (£000)1 67.3 70.3 +4 • Covid-19 cost savings to reduce with lockdown restrictions easing

1. Total costs excludes holiday pay and temporary staff costs, divided by average permanent headcount

10 Brewin Dolphin | Half year results Investing in our technology and infrastructure to support growth ambitions H1 total capex spend of £15.2m (H1 2020: £17.2m) Other FY 2021 capex guidance maintained at c.£30m Property1 2% 5% Technology Custody and settlement system: enhancement 12% (user-experience) • Autumn 2021 delivery • FY21 capex guidance increased to c.£24m (from c.£19m)

Expected benefits: 81% Custody and settlement system ✓ Improved operational efficiency investment ✓ Reduced operational risk H1 2021: £12.3m ✓ Increased capacity (Total capex spend to date £38.8m)

1. Property includes office equipment and leasehold improvements

11 Brewin Dolphin | Half year results Cash position remains strong at the cyclical low point

£m

60.2

11.1

32.3 10.6

29.1 5.4 6.4

180.5

145.8

FY 2020 Adjusted EBITDA Capex Working capital Net share Final dividend Rental payment Tax, interest & H1 2021 purchases other

12 Brewin Dolphin | Half year results Strong balance sheet

FY H1 £m 2020 2021 Goodwill, client relationships & brand 129.3 121.7 Software additions 14.1 Software 45.4 57.6 Amortisation * (1.9)

Total intangible assets 174.7 179.3 Total 12.2

Fixed assets 9.7 9.2 Defined benefit pension 20.3 17.4 Other non-current assets 3.0 2.8 Right of use assets 38.0 34.0

Total other non-current assets 71.0 63.4 Capital resources are 210% of FCA requirements Net cash 180.5 145.8 Working capital (17.9) 6.7 Provisions (4.8) (4.2) Surplus capital Total net current assets 157.8 148.3 £29.4m

Lease liabilities (45.3) (40.8) Other non-current liabilities (23.2) (21.6) Interim dividend est. £14.0m1 Total non-current liabilities (68.5) (62.4)

Net assets 335.0 328.6 Capital requirement including group risk appetite 150% Regulatory capital resources 161.1 151.7 £108.3m Capital adequacy (%) 220 210

1. Estimated based on issued number of shares as at 31 March 2021

13 Brewin Dolphin | Half year results Maintained FY 2021 guidance

Income and Opex Capex

Income FY 2021 capex of around £30m • Commission income expected to reduce in the second half of the year • Custody and settlement system on track for Autumn 2021

FY 2021 operating costs to grow mid-single digit • FY 2021 capex for custody and settlement system updated to c.£24m (up from c.£19m) H2 outlook: • Holiday accrual to partly reverse • Amortisation of Client Engage c.£2m pa and • Covid-19 cost savings to reduce with custody and settlement around c.£5m pa once lockdown easing completed • FSCS levy (H2 20 £4.8m)

14 Brewin Dolphin | Half year results Business update Robin Beer| Chief Executive Officer Our trusted brand and advice-focused strategy, drives best in class retention

Recent client survey1 High direct client retention rates

98% 97% 97% 96% 96%

94%

FY 16 FY 17 FY 18 FY 19 FY 20 H1 21

More clients are seeking ongoing advice (£m) +62% 97% would recommend 14.6 Brewin Dolphin to a friend 11.5 12.0 (up from 95% last year) 10.8 9.0

1. Survey of Brewin Dolphin clients, April 2021 H1 19 H2 19 H1 20 H2 20 H1 21

16 Brewin Dolphin | Half year results Relevant Propositions Innovation: launched our new ESG solutions through 1762 and MPS

The Responsible Investment spectrum

Our new ESG solutions “1762 Responsible Progress” and “Sustainable MPS”

Wealth Core

Ethical/ Impact- ESG Sustainable Thematic Impact negative first integration investment investment only screening investment

Consideration of Exclusion of Inclusion of Investments Investing to Philanthropic ESG factors in investments investments from sustainable generate investment based on based on activities intentional selection specific sectors positive ESG impact process criteria

Stewardship and engagement

Delivering competitive financial returns

Mitigating ESG risks

17 Brewin Dolphin | Half year results Relevant Digital Digital agenda: early signs of success with BPS new digital onboarding

BPS new accounts New digital onboarding journey 1000

800 ✓ Brought digital platform in-house

600 ✓ Conversion rate doubled to 40%

400 ✓ Q2 2021 new accounts +74% ✓ Q2 2021 fund inflow +63% yoy 200

0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY 2019 FY 2020 FY 2021

Average age of Average age Average age new BPS clients in of BPS of Core & last 6 months1 44 client1 53 1762 client 65

1. Excludes JISAs and Trusts

18 Brewin Dolphin | Half year results Efficient TechnologyTechnology Investing in new technology infrastructure to support our growth ambitions

2020 2021 • Core software built and well into testing the Integration build integration of systems and user acceptance Extensive software and user acceptance testing • Focus shifted to final stages of implementation and beyond

Embedding • Rehearsal and migration planning ✓ • System goes live in the Autumn ✓ • Phased deployment of full functionality ✓ ✓ Migration Phased approach rehearsals begin User Acceptance Benefits: Testing ✓ Scale faster, through increased capability Final Software build Avaloq live in and capacity Testing of integration complete Brewin’s Avaloq and Brewin technology ✓ Faster, simpler client journeys with systems underway environment streamlined client reporting

✓ Greater synergies from M&A On track to go live in the Autumn

19 Brewin Dolphin | Half year results Growth Distribution Expanding our reach through multiple distribution channels

More channels, propositions & solutions Voyager • Expanded our platform coverage for intermediaries from 15 to 23 • Increased market opportunity by around £200bn FUM

B2B

• Secured c.20 corporate partnerships to help

UK UK BRANCH NETWORK

INCREASED INCREASED IRELAND B2B PROFESSIONAL SERVICES CHARITIES INTERMEDIARIES OPPORTUNITY STRATEGIC PARTNERSHIPS employees financial wellbeing • Since launch in Oct 20, we’ve presented over 60

Wealth seminars to 1,800 attendees BPS Core 1762 Pilot

Voyager Ireland MPS Funds • Benefit from EU footprint post Brexit and recent market disruption opportunity

More choice for • Total funds up 12% to €5.6bn in H1, discretionary up more clients 20% to €3.3bn

20 Brewin Dolphin | Half year results On track to deliver FY21 priorities

Relevant Efficient Growth

Innovating our Accelerate our Investment in Expand our propositions digital agenda technology distribution channels

✓ Innovating at pace ✓ Priorities and further • Delivery of the ✓ Capture growing develop our digital custody & settlement market opportunity in ✓ Launching an ESG agenda system Ireland client solution and evolve our corporate ✓ Explore ways to ✓ Expand ESG initiatives improve client and Intermediaries adviser experience solutions • Optimise learning from data warehouse • Strategic partnerships

Creating shareholder value through organic / inorganic growth and operational improvement

21 Brewin Dolphin | Half year results Appendix KPIs

RG Revenue growth

FY FY FY FY FY H1 Current Progres IE Improved efficiency Strategic Objective KPI 2016 2017 2018 2019 2020 2021 target s CS Capital efficiency and shareholder Discretionary fund inflows return RG 4 8 7 4 2 3 5 Provide more (%) choice for more Net promoter score (-100% / clients RG +45 +48 +44 +51 +51 n.a. +381 +100%) Overall client satisfaction Further develop our RG 8.4 8.5 8.5 8.6 8.7 n.a. 8.41 client centric (n/10) experience/ Discretionary funds per IE 64 75 80 81 772 84 100 proposition CFCP (£m)

Maintain a culture Employee engagement IE 78 82 83 87 90 n.a. 771 we are proud of (%)

Adjusted PBT margin3 (%) IE 22 23 24 22 22 24 25 Build a platform for growth Min Capital adequacy ratio (%) CS 232 232 234 2914 220 210 150

Adjusted EPS5 CS 16.8 19.6 21.7 20.5 20.4 n.a. n.a

Dividends (p) 13.0 15.0 16.4 16.4 14.3 60% - n.a. Dividend payout ratio CS (77%) (77%) (76%) (80%) (70%) 80%

1. Benchmark 2. Excluding the acquisition in Ireland, the measure is £80m 3. See adjusted PBT to statutory PBT reconciliation on page 56 4. 235% post BDCIIL acquisition & IFRS 16 5. See EPS note to the Financial Statements

23 Brewin Dolphin | Half year results Continued improvement in quality

Asset mix % Income profile %

38 Fees Discretionary 51

66 68 78 4 87

Execution only 16 41 6 10 FP income

Advisory 33 11 25 Commissions 21 11 9 17 4 3 1 Other Income FY FY H1 FY FY H1 2010 2015 2021 2010 2015 2021

24 Brewin Dolphin | Half year results Funds summary

6 12 month month H1 FY H1 charge change £bn 2020 2020 2021 % %

Private clients 18.9 21.6 23.7 9.7 25.4 Charities and corporates 4.3 5.1 5.6 9.8 30.2

Direct discretionary 23.2 26.7 29.3 9.7 26.3

Intermediaries 8.8 10.1 11.1 9.9 26.1 MPS 3.7 4.4 5.3 20.5 43.2

Indirect discretionary 12.5 14.5 16.4 13.1 31.2

Discretionary 35.7 41.2 45.7 10.9 28.0

BPS 0.2 0.2 0.2 - - Execution only 3.7 4.1 4.7 14.6 27.0 Advisory 1.8 2.1 2.0 (4.8) 11.1 Total funds 41.4 47.6 52.6 10.5 27.1

MSCI PIMFA Private 1,423 1,568 1,704 8.7 19.7 Investor Balanced Index FTSE 100 Index 5,672 5,866 6,713 14.4 18.4

25 Brewin Dolphin | Half year results Fund flows and transfers

Annualised growth rate % Net new Net new £bn Inflows Outflows flows Transfers Net flows Inflows Outflows flows

Private clients 0.6 (0.2) 0.4 (0.3) 0.1 +6 -2 +4 Charities and corporates 0.1 (0.1) - - - +4 -4 - Direct discretionary 0.7 (0.3) 0.4 (0.3) 0.1 +5 -2 +3

Intermediaries 0.5 (0.3) 0.2 (0.1) 0.1 +10 -6 +4 MPS/Voyager 0.4 - 0.4 - 0.4 +18 - +18

Indirect discretionary 0.9 (0.3) 0.6 (0.1) 0.5 +12 -4 +8

Discretionary funds 1.6 (0.6) 1.0 (0.4) 0.6 +8 -3 +5

BPS - - - - - Execution only 0.1 (0.3) (0.2) 0.5 0.3 +5 -15 -10

Advisory - - - (0.1) (0.1) Total funds 1.7 (0.9) 0.8 - 0.8 +7 -4 +3

26 Brewin Dolphin | Half year results Discretionary fund flows

£bn H1 2016 2017 2018 2019 2020 2021

Total gross inflows 1.1 1.6 1.7 1.4 1.5 1.6

0.5 0.5 0.7 0.7 0.6

0.5 0.6 0.9 0.5 0.4 Direct 0.5 0.4 Intermediaries 0.5 Inflows 0.4 0.4 MPS 0.3 0.3 0.2 (0.1) (0.2) (0.2) (0.2) (0.2) (0.3) Outflows (0.2) (0.6) (0.4) (0.4) (0.5) (0.3)

Total gross outflows (0.7) (0.6) (0.6) (0.4) (0.7) (0.6)

27 Brewin Dolphin | Half year results Fees and commissions

H1 H1 Change £m 2020 2021 (%)

Fees 115.8 130.8 +13 Commissions 33.7 38.7 +15 Discretionary 149.5 169.5 +13

BPS (Fees only) 0.7 0.8 +14

Fees 2.2 2.3 +5 Commissions 3.5 3.8 +9 Execution only 5.7 6.1 +7

Fees 1.6 2.2 +38 Commissions 0.6 0.5 -17 Advisory 2.2 2.7 +23

Total fees 120.3 136.1 +13 Total commissions 37.8 43.0 +14 Total fees and commissions 158.1 179.1 +13

Financial planning 16.4 19.1 +17 Other income 1.3 1.7 +31 Total income 175.8 199.9 +14

28 Brewin Dolphin | Half year results Total funds and income margin

H1 2020 H1 2021 H1 2020 H1 2021 H1 2020 H1 2021 Average Average Average Average funds1 funds1 Income Income margin margin

£bn £bn £m £m Bps Bps

Discretionary 38.6 45.3 149.5 169.5 77.9 74.8 YoY change +17% +13% -4%

BPS 0.2 0.2 0.7 0.8 71.5 65.0

Execution only 4.1 4.7 5.7 6.1 28.0 26.1 YoY change +15% +7% -7%

Advisory 1.9 2.0 2.2 2.7 26.1 27.5 YoY change +5% +23% +5%

Total 44.8 52.2 158.1 179.1 71.1 68.6

YoY change +17% +13% -4%

1. Calculated using funds value as at quarter end fee strike dates. Following the completion of the acquisition on 31st October 2019, BDCIIL contributed income to the group for eleven months in FY20. The revenue margins provided are calculated on the basis that income from BDCIIL was generated for the full twelve months of the period

29 Brewin Dolphin | Half year results Discretionary funds and income margin

H1 2020 H1 2021 H1 2020 H1 2021 H1 2020 H1 2021 Average Average Average Average funds1 funds1 Income Income Change margin1 margin1

£bn £bn £m £m % bps bps

Direct 25.2 29.2 Fees 78.0 88.2 +13 62.1 60.4 YoY change 16% Commissions 33.1 38.2 +15 26.5 26.2

111.1 126.4 +14 88.6 86.6

Intermediaries 9.5 11.0 Fees 32.6 36.0 +10 68.6 65.1 YoY change 16% Commissions 0.6 0.5 -17 1.3 0.9

33.2 36.5 +10 69.9 66.0

MPS 3.9 5.0 Fees 5.2 6.6 +27 27.2 26.4 YoY change 28%

Total discretionary 38.6 45.3 Fees 115.8 130.8 +13 60.3 57.7

YoY change 17% Commissions 33.7 38.7 +15 17.6 17.1

149.5 169.5 +13 77.9 74.8

30 Brewin Dolphin | Half year results H1 Income statement

H1 H1 Change £m 2020 2021 (%) Total income 175.8 199.9 +14 Staff costs 70.2 74.3 +6 Non-staff costs 40.3 40.0 -1 Fixed operating costs 110.5 114.3 +3 Profit share 28.1 37.7 +34 Total costs 138.6 152.0 +10 Net finance costs & other gains & losses (0.7) (0.9) +29 Adjusted1 profit before tax 36.5 47.0 +29

Adj. PBT margin (%) 20.8 23.5 Adj. EPS 9.5 12.5

Headcount 1,950 2,082 +7

Total staff costs / income (%) 55.9 56.0 Total staff costs / income (%) excluding holiday 54.9 54.3 accrual Non-staff costs / income (%) 22.9 20.0 Total costs / income (%) 78.8 76.0 Profit share / pre profit share profit (%) 43.0 44.0

1. See adjusted PBT to statutory PBT reconciliation on page 33

31 Brewin Dolphin | Half year results Statutory PBT reconciliation

H1 H1 Change £m 2020 2021 (%)

Profit before tax and adjusted items 36.5 47.0 +29

Acquisition costs (2.3) - Defined benefit pension scheme past service costs - (0.4) Other gains and losses - 0.3 Incentivisation awards (0.6) (0.6) Amortisation of intangible assets - client relationships and brand (5.4) (5.6) Adjusted items (8.3) (6.3)

Statutory profit before tax 28.2 40.7 +44

Tax (6.8) (8.0)

Statutory profit after tax 21.4 32.7 +53

Statutory diluted earnings per share (p) 7.1 10.9 +54

Average number of diluted shares 301.1 300.9

32 Brewin Dolphin | Half year results 12 month cash flow cycle

£m

60.2

11.1 23.4 52.9 4.9 32.3 13.0 10.6 14.8 1.3 5.9

29.1 5.4 6.4

180.5

144.1 145.8

H1 2020 Adjusted Capex Working Rental Interim Acquisition/ Tax, interest FY 2020 Adjusted Capex Working Net share Final Rental Tax, interest H1 2021 EBITDA capital payment dividend integration & other EBITDA capital purchases dividend payment & other costs

33 Brewin Dolphin | Half year results Regulatory capital remains significantly higher than FCA requirement

Surplus capital £29.4m Capital deductions Regulatory £176.9m capital Interim dividend resources est. Capital £151.7m £14.0m1 Net assets resources are £328.6m Unaudited 210% of FCA reserves requirements £32.7m Capital Capital adequacy requirement 210% including group Regulatory risk appetite capital 150% resources £108.3m £119.0m

1. Estimated based on issued number of shares as at 31 March 2021

34 Brewin Dolphin | Half year results Dividends

Dividend policy is to pay 60-80% of annual adjusted diluted earnings per share

8.6 9.9 12.0 13.0 15.0 16.4 16.4 14.3 Total dividend (p) 60% 62% 70% 77% 77% 76% 80% 70% Dividend payout ratio

12.00 12.00 10.75 9.90 Final dividend (p) 9.15 8.25 6.25 5.05

Interim dividend (p) 3.55 3.65 3.75 3.85 4.25 4.40 4.40 4.40 4.60

2013 2014 2015 2016 2017 2018 2019 2020 2021

1.0 0.2 1.5 1.1 1.1 1.2 1.0 1.1 Dividend cover

35 Brewin Dolphin | Full year results and strategy update Regional network

H1 H1 Change £bn 2020 2021 (%)

London and the South East 11.3 14.3 +27

Central and the North 9.4 11.7 +24

Scotland 5.4 6.9 +28

South West 3.8 4.7 +24

BD Ireland 2.1 2.8 +33

Models1 3.7 5.3 +43

Total discretionary funds 35.7 45.7 +28

1. MPS/Voyager

36 Brewin Dolphin | Half year results Asset allocation (balanced) as at 31 March 2021

MSCI BD Balanced Balanced Asset class % %

Cash 2.5 3.0

UK sovereign bonds 3.0 2.0 Global sovereign bonds 3.0 2.0 Global index-linked bonds 2.5 2.5 UK IG corporate bonds 3.5 3.0 Global IG corporate bonds 6.5 6.0 Bonds 18.5 15.5

UK 22.5 23.5 North America 25.1 25.7 Dev’d Europe ex UK 5.7 6.1 Japan 3.2 4.0 Asia 6.5 7.7 Emerging 0.9 2.0 Overseas 41.5 45.5 Equities 64.0 69.0

Global property 3.5 2.5 Gold 3.5 3.0 Absolute return 8.0 7.0 Alternatives 15.0 12.5

Total 100.0 100.0

37 Brewin Dolphin | Half year results Major shareholders as at 31 April 2021

% holding Janus Henderson Investors 5.8 BlackRock 4.8 Aberforth Partners 4.7 JPMorgan Asset Management 4.3 Vanguard Group 4.3 M&G Investment Management 4.0 Royal London Asset Management 4.0 Legal and General Investment Management 3.7 BMO Global Asset Management (UK) 3.4 Other1 61.0

1. Of which Brewin Dolphin staff and 14.3 former staff including Employee Benefit Trust

38 Brewin Dolphin | Half year results Disclaimer

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Certain statements in this presentation are forward-looking statements which are based on the Company's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. These forward-looking statements, which may use words such as "aim", "anticipates", "believe", "intend", "estimate", "expect" and words of similar meaning, include matters that are not historical facts. These forward-looking statements are subject to risks and uncertainties that could cause the actual results of operations, financial condition, liquidity, dividend policy and the development of the industry in which the Company's business operates to differ materially from the impression created by the forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by the FCA, the London Stock Exchange or applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

The presentation may not be copied, reproduced or further distributed, in whole or in part, to any other person, or published, in whole or in part, for any purpose without the prior written consent of the Company.

Neither the content of the Company's website: www.brewin.co.uk (or any other website), nor the content of any website accessible from hyperlinks on such websites, is incorporated into, or forms part of this presentation. May 2021

39 Brewin Dolphin | Half year results 12 Smithfield Street, London, EC1A 9BD

Tel: 020 3201 3900 Email: [email protected] www.brewin.co.uk