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æ australianethical ASX Code : AEF 24 February 2021 Australian Ethical Investment Limited Half year financial results to 31 December 2020 ASX ANNOUNCEMENT ( comparisons to the 6 months ended 31 December 2019 ) AUSTRALIAN ETHICAL ANNOUNCES FIRST HALF UPAT OF $ 4.9M , UP 11 % ; NPAT OF $ 5.2M UP 17 % Financial highlights • • • Underlying profit after tax ( UPAT ) of $ 4.9 million ( up 11 % ) Net profit after tax ( NPAT ) attributable to shareholders of $ 5.2 million ( up 17 % ) Operating revenues of $ 25.6 million ( up 10 % ) • Operating expenses of $ 18.9 million ( up 11 % ) • Focused investment in growth initiatives of $ 1.7m during the first half ( included in operating expenses ) • Interim dividend of 3 cents per share , fully franked • Strong balance sheet , no gearing , well managed operating cash flow Operating highlights • Outstanding investment performance with most funds outperforming benchmarks • FUM was $ 5.05 billion on 31 December 2020 , up 30 % • FUM growth of $ 1bn over the 6 month period • Record net inflows of $ 422 million ( up 43 % ) • Customer numbers up 22 % from 31 December 2019 Profit and revenue Australian Ethical Investment's net profit after tax ( NPAT ) attributable to shareholders for the half year ended 31 December 2020 rose 17 % to $ 5.2 million , with Underlying profit after tax of $ 4.9 million , up 11 % compared with the prior comparative period . Operating revenue increased by 10 % to $ 25.6 million , driven by excellent investment performance , strong growth in new customers and record net inflows . This increase was partially offset by superannuation fee Media enquiries Camilla Herring t 0432 988 980 e cherring@australianethical.com.au Shareholder enquiries Tom May , Company Secretary t 0488 474 779 etmay@australianethical.com.au Australian Ethical Investment Ltd ABN 47 003 188 930 AFSL 229949 australianethical.com.au 1