Earnings release
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Q2 FY26 Update Total Funds Under Administration ( FUA) up 14% YoY to $70.5 billion Platform FUA up 8% YoY to $32.5 billion driven by organic growth in Spectrum and Powerwrap Record number of Scope+ portfolios, up 13% YoY with FUA up 19% ASX Release: 21 January 2026, Melbourne Key results to 31 December 2025 Praemium reports its funds and flows for the quarter to 3 1 December 2025. All figures are unaudited with growth rates from 31 December 2024, unless specified. • Total FUA: Up 14% to $70.5 billion • Platform FUA: Up 8% to $32.5 billion (up 2% from September 2025) including quarterly net inflows of $462 million. Gross outflows included $361 million for exiting advisors, th ese outflows will dim inish over time . o Spectrum: Quarterly net inflows of $266 million, FUA now $3.6 billion up from $3.3 billion in September 2025, includes over $1.4 billion of new business gross inflows and just under $2 billion transitioned from OneVue. o SMA: Quarterly net inflows of $24 million, FUA now $14.6 billion (31 December 2024: $12.4 billion up 18% YoY) with the increase reflecting the transfer of $ 933 million from OneVue. o Powerwrap: Quarterly net inflows of $302 million, FUA now $14.3 billion (31 December 2024: $13.5 billion up 6% YoY) o Net market movement: $80 million • Cash Management Holdings: $1,766 million (5.4% of FUA)1 • Scope+ Non -custodial Portfolio Administration: $37.9 billion FUA (31 December 2024: $31.9 billion up 19% YoY) Platform update In the second quarter, Praemium built on the strong first quarte r resulting in a solid first half of FY26. The results underscore the effectiveness of the strategic focus on the high -net-worth (HNW) segment. Total FUA rose 14% to $70.5 billion, with platform FUA up 8% to $32.5 billion. Spectrum continued with its strong performance achieving net inflows of $266 million and grew FUA to $3.6 billion. The organic growth is driven by robust demand for the next-generation IDPS solution and increasing traction among HNW advisers. Praemium SMA record ed net inflows of $24 million for the quarter which together with the transfer of the remaining OneVue FUA , lifted FUA to $14.6 billion, an 18% increase year -on-year. SMA advisor inflows slowed in the latter part of H1 FY26 and net inflows were impacted with higher outflows related to a long-standing transition out of SMA for a former client grou p. Powerwrap, delivered net inflows of $302 million, its highest quarterly net inflows since the first quarter of the 2022 financial year , with FUA reaching $14. 3 billion at 31 December 2025, reflecting strong engagement and growth across existing advisers , and stabilisation of adviser exits. 1 Cash management holdings of $1,766 million split as follows: Spectrum $223 million (6.1% of FUA), SMA $9 53 million (6.5% of FUA) and Powerwrap $590 million (4.1% of FUA). For personal use only
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Overall, quarterly net inflows reached $ 462 million, with strong results in Spectrum and Powerwrap . The results highlight Praemium’s strategic progress and the strength of its product suite, positioning the business for continued growth in both custodial and non -custodial platforms. Tables detailing the quarterly statistics across the different plat forms are included at the end of this release. Reporting and administration update Scope+ funds under administration grew 19% in the quarter to $37.9 billion, further increasing Praemium’s market lead in this segment , with 2 new advice groups and 861 portfolios added over the December quarter. The onboarding of a number of significant Scope+ clients , including Bell Potter, is progressing well , with a substantial portion of the portfolio additions relating to Bell Potter and the final phase of onboarding expected to be completed in Q3 FY26. Praemium expects a further uplift in our total Scope + FUA over the coming quarters. OneVue transition completed and synergies on track The transition of OneVue assets onto the Praemium platform is completed, supporting the long - term goal for platform consolidation and enhanced client outcomes . FUA of $933 million was transferred to Praemium SMA this quarter. Overall, since acquisition, OneVue FUA has been trans ferred to Spectrum ($1,936 m illion), SMA ($959 million), and Scope ($203 million). Business performance Praemium continues to make progress across its strategic initiative s including: • Announcement of the acquisition of Technotia Labs which will accelerate our progress on business automation and client experience improvements given their design -driven approach to system development. • Identified opportunities for automation and other AI based improvements with strong return on investment, identified through the initial pilot program. • Further progress on transforming our superannuation fund to a market -leading offering utilising our recently built technology platform. • Completion of some important projects including the OneVue migration and onboarding the initial Bell Potter clients. Praemium CEO Anthony Wamsteker commented: “The December quarter continued to see strong inflows into Spectrum. We are pleased that the demand we’re seeing reflects the strength of our offering and the opportunity to grow our market share in the HNW segment. Since launch we have achieved $1.4 billion in new business gross inflows. Growth in FUA for Scope+ highlights our market -leading capability and the strength of the relationship with Bell Potter , with onboarding well progressed and expected to complete in the current quarter. Our market-leading non-custodial service is driving consistent sales activity, with several signed agreements for both Scope and Scope+ scheduled to onboard in the coming quarters. The OneVue transition successfully completed in the quarter with the final FUA transitioning onto the Praemium platform, allowing us to consolidate our platform offerings, realise the synergies from the acquisition and enhance client outcomes for those advisors who joined Praemium . The results reflect the strength of our product suite and the strategic progress we’re making across the business. While adviser transitions and OneVue asset transfers have impacted outflows in past quarters, we’re seeing encouraging signs that these headwinds have eased . With sustained adviser interest, expanding engagement across both custodial and non -custodial platforms, and investment in innovation we remain confident in our long -term growth trajectory. ” For personal use only
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Quarterly Statistics Platform FUA Movement ($m) Dec-24 * Mar-25 Jun-25 Sep-25 Dec-25 Opening Platform FUA 29,035 30,089 30,002 30,673 31,995 Net Flows Praemium SMA 261 120 64 237 24 Powerwrap 78 (66) (251) 131 302 OneVue (37) (130) (189) (117) (130) Spectrum 69 440 339 299 266 Net flows 371 364 (37) 550 462 Market revaluation / other 2 683 (451) 708 772 80 Closing Platform FUA 30,089 30,002 30,673 31,995 32,537 Portfolios Dec-24 Mar-25 ** Jun-25 Sep-25 Dec-25 Scope 65,706 64,223 64,436 60,419 61,881 Scope+ 9,416 9,455 9,570 9,835 10,696 Quarterly Platform Flows ($m) Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Gross inflows Praemium SMA 742 559 645 744 585 Powerwrap 870 447 529 703 895 OneVue 212 237 265 244 105 Spectrum 69 443 428 483 425 Total gross inflows 1,893 1,686 1,867 2,174 2,010 Gross outflows Praemium SMA (481) (439) (581) (507) (561) Powerwrap (792) (513) (780) (572) (593) OneVue (249) (367) (454) (361) (235) Spectrum (3) (89) (184) (159) Total gross outflows (1,522) (1,322) (1,904) (1,624) (1,548) Net flows Praemium SMA 261 120 64 237 24 Powerwrap 78 (66) (251) 131 302 OneVue (37) (130) (189) (117) (130) Spectrum 69 440 339 299 266 Total net flows 371 364 (37) 550 462 2 Market movement of $772 million in Q1 FY26 include d $286 million recognised reduction in FUA balance in relation to holdings in First Guardian. For personal use only
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Quarterly Flows by Platform ($m) Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Praemiu m SMA Open in g Platform FUA 11,928 12,357 12,254 12,887 13,585 Praemium SMA Inflows 742 559 645 744 585 Praemium SMA Outflows (481) (439) (581) (507) (561) Praemiu m SMA N et flows 26 1 120 64 237 24 Praemium SMA Market Movement 168 (223) 543 463 90 Praemium SMA Internal Transfer - OneVue - - 26 - 933 Praemium SMA Internal Transfer - Spectrum - - - (2) (39) Praemiu m SMA Closin g Platform FUA 12,357 12,254 12,887 13,585 14,593 Powerwrap Open in g Platform FUA 12,910 13,471 13,260 13,438 13,972 Powerwrap Inflows 870 447 529 703 895 Powerwrap Outflows (792) (513) (780) (572) (593) Powerwrap N et flows 78 (66) (251) 131 302 Powerwrap Market Movement 483 (145) 429 462 95 Powerwrap Internal Transfer - Spectrum - - - (59) (65) Powerwrap Closin g Platform FUA 13,471 13,260 13,438 13,972 14,304 On eVu e Open in g Platform FUA 4,197 4,189 3,975 1,968 1,109 OneVue Inflows 212 237 265 244 105 OneVue Outflows (249) (367) (454) (361) (235) On eVu e N et flows (37) (130) (189) (117) (130) OneVue Market Movement 29 (84) (127) (268) (46) OneVue Internal Transfer - Spectrum - - (1,462) (474) - OneVue Internal Transfer - Scope - - (203) - - OneVue Internal Transfer - SMA - - (26) - (933) On eVu e Closin g Platform FUA 4,189 3,975 1,968 1,109 - Spectru m Open in g Platform FUA - 72 513 2,380 3,329 Spectrum Inflows 69 443 428 483 425 Spectrum Outflows - (3) (89) (184) (159) Spectru m N et flows (ex On eVu e exits) 69 440 362 374 312 Spectru m N et flows On eVu e exits - - (23) (75) (46) Spectrum Market Movement 3 1 66 115 (59) Spectrum Internal Transfer - OneVue - - 1,462 474 - Spectrum Net Internal Transfers - SMA - - - 2 39 Spectrum Internal Transfer - Powerwrap - - - 59 65 Spectru m Closin g Platform FUA 72 513 2,380 3,329 3,640 For personal use only
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FUA ($m) Dec-24 * Mar-25 Jun-25 Sep -25 Dec -25 Praemium SMA 12,357 12,254 12,887 13,585 14,593 Net Flow % of opening FUA 2.2% 1.0% 0.5% 1.8% 0.2% Powerwrap 13,471 13,260 13,438 13,972 14,304 Net Flow % of opening FUA 0.6% -0.5% -1.9% 1.0% 2.2% OneVue 4,189 3,975 1,968 1,109 0 Net Flow % of opening FUA -0.9% -3.1% -4.8% -5.9% -11.7% Spectrum 72 513 2,380 3,329 3,640 Net Flow % of opening FUA - 611% 66.1% 12.6% 8.0% Australia Platform FUA 30,089 30,002 30,673 31,995 32,537 Net Flow % of opening FUA 1.3% 1.2% -0.1% 1.8% 1.4% Scope+ 31,912 32,324 33,649 34,968 37,940 TOTAL FUA 62,001 62,326 64,322 66,963 70,477 * 31-Dec -24 SMA FUA restated to $1 2,357m (previou sly $12 ,458m). Clo sing p latform 3 1-Dec-24 FUA restated to $30 ,089m (previously $ 30,190 m). Market movement for the qu arter-en ded 31-Dec-2 4 restated to $683m (previously $784m). ** 31-Mar-25 Scope number of accounts restated to 64,223 (previously 64,900). This announcement is authorised by the Board of Praemium Limited. For further information contact Anthony Wamsteker, CEO, or Emma Stepcic, CFO, Ph: 1800 571 881 About Praemium Praemium empowers Australia’s leading financial advisers with innovative investment, administration, and retirement solutions designed for Australia’s wealthiest investors. Praemium’s solutions provide seamless access to global markets, alternative assets, and over 350 integrated SMAs. With advanced technology and unrivalled reporting, Praemium enables advisers to manage, report, and administer complex and sophisticated wealth portfolios, with a digitised view of total wealth. From outsourced administration of non -custody assets to superannuation solutions, Praemium delivers a complete wealth management platform that drives superior results. Praemium Limited (ABN 74 098 405 826), Level 19, 367 Collins Street, Melbourne VIC 3000 Australia . For personal use only