Magellan Financial : 2022 Interim Results Briefing

Magellan Financial Group Limited Interim Results

For the half year ended 31 December 2021

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onlyuseGroup Update

Hamish McLennan nal

Group update

Board and governance

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•	Strengthened independence and governance
•	Hamish McLennan appointed independent non-executive Chairman of Magellan Financial Group ("Magellan")
• Robert Fraser appointed Deputy Chairman of Magellan and continues as independent non-executive
	Chairman of Magellan Asset Management, Magellan's core business
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•	Process underway for additional independent non-executive director
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Group update

CEO and management

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•	Interim CEO, Kirsten Morton, is doing an outstanding job
• Core business operations are stable and operating very effectively and profitably
•	Addition of Chris Mackay to senior management adds further depth of experience and support to Interim CEO
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•	Board will make CEO appointment when appropriate, after concluding process
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Attractive capital management

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Intention to progress with a 1-for-8 bonus issue of options to Magellan shareholders

• Exercise price $35 per option
• 5 year term - exercisable at any time until expiry
• Prospectus expected to be lodged in March 2022
• An application will be made with ASX to have the options quoted on ASX

Intention to progress with an issuance of ~10 million unlisted options to be issued to Magellan staff ($35 exercise price, 5 year term)

Board considering on-market share buy-back

Dividend policy confirmed - 90-95% payout

DRP suspended

No plans for further investments in Magellan Capital Partners

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