Earnings release
Page 1
Q4 FY26 Update Strong annual platform net flows of $1.9 billion for FY26 Total Funds Under Administration (FUA) up 21% YoY to $77.9 billion Transformational platform development progressing to plan ASX Release: 22 July 2026, Melbourne Key results to 30 June 2026 Praemium reports its funds and flows for the quarter to 30 June 2026. All figures are unaudited with growth rates from 30 June 2025, unless specified. • Total FUA: Up 21.1% to $77.9 billion • Platform FUA: Up 10.8% to $34.0 billion including quarterly net flows of $316 million. • Cash Management Holdings: $1,812 million (5.3% of FUA) • Scope+ Non-custodial Portfolio Administration: FUA up 30.5% to $43.9 billion. Portfolios up 33.7% to 12,793. Detailed quarterly statistics are provided in the tables at the end of this release. Consistently strong platform flows Praemium delivered another quarter of strong underlying platform growth in Q4 FY26, wit h momentum continuing across its core platform and administration business. FY26 net flows reached $1.9 billion. Total platform FUA increased 10.8% during FY26 to $34.0 billion, supported by strong underlying flows and positive market movement in Q4. Adviser demand remained resilient, particularly in our targeted high-net-worth (HNW) segment, supporting underlying flow performance across all Praemium’s platform solutions. Increasing demand for alternative assets and more sophisticated portfolio structures, is driving adoption across Praemium's full product suite. Bell Potter Private Wealth's expansion beyond Scope+ into Spectrum and SMA solutions demonstrates this trend, with clients increasingly leveraging a broader range of Praemium's capabilities to support complex wealth management requirements. Over FY26 330 new investment options were added to the Spectrum, Powerwrap and SMA investment menus, supporting flexible portfolio construction with disciplined investment governance. Known adviser exit-related outflows, including those associated with OneVue, contributed $522 million of net outflows during FY26. Importantly, these net outflows continued to trend down throughout the year. With the major platform migrations now complete and adviser exit outflows reducing, the drag from legacy transition-related activity is expected to continue moderating into FY27.
Page 2
High growth in non-custodial portfolio administration FUA Scope+ FUA grew to $43.9 billion (up 30.5%) and portfolio numbers increased to 12,793 (up 33.7%). Praemium’s market leadership in non-custodial portfolio administration was further extended by the successful migration of the Bell Potter Private Wealth business, the onboarding of new advice groups and the return of clients previously using Scope. Multi-year non-custodial enterprise agreement renewals were executed with Morgan Stanley Wealth Management and JB Were. These renewals reinforce the quality and longevity of Praemium's enterprise client relationships and highlight the strategic role its administration, reporting and operational capabilities play within leading private wealth businesses. The agreements provide a stable foundation for future growth while supporting ongoing client engagement across broader Praemium solutions. Technology Praemium's technology transformation continues to advance, with the integration of Technotia delivering enhanced capability, a simplified cost base and progress towards a next-generation wealth management platform. The program is beginning to deliver measurable operational and financial benefits, including a previously announced forecast annualised reduction in technology costs of approximately $9 million. With a modern, modular architecture, the enhanced platform is designed to simplify product development, increase automation, support a more scalable operating model, enable faster release cycles and reduce implementation risks. An independent technical review has commenced to assess platform progress, expected productivity benefits and the commercial assumptions underpinning the revised incentive arrangements announced in June. The transformation is expected to improve operating efficiency, support faster client onboarding and enhance Praemium’s ability to grow revenue and margin. Strategy and improving operational execution Praemium continues to execute its strategic priorities, with a focus on targeted investment to support long term growth, cost discipline and consistent operating performance. During the period the business: • Continued to generate strong net inflows across both its platform and portfolio administration businesses. • Continued to realise synergies following the integration of Technotia and the completion of the OneVue migration. • Improved onboarding and time-to-value for new clients, supporting earlier revenue contribution from new business wins. • Progressed the evolution of the Praemium superannuation offering to support a more competitive and scalable solution. • Successfully renewed key enterprise agreements on favourable terms, reinforcing revenue stability and providing opportunities for future growth. Together, these initiatives position the business to deliver consistent performance, with the opportunity for upside following the delivery of the technology and product roadmap.
Page 3
Praemium CEO Anthony Wamsteker commented: “The fourth quarter finished off a strong FY26 for Praemium, with net inflows of $1.9 billion, reflecting continued adviser demand across our platform solutions and validating our strategic focus on the high-net-worth segment. We are seeing advisers increasingly seek solutions that can support more complex client requirements, including alternative assets, sophisticated portfolio structures and integrated administration services. This is driving broader adoption across the Praemium ecosystem, with clients leveraging multiple solutions to support their advice proposition. Continued growth in our non-custody solutions is particularly pleasing and highlights the importance of non-custodial administration to support increasingly complex high-net-worth client needs. During the year we also strengthened the foundations of the business through key enterprise client renewals, the completion of major integration initiatives and continued progress in simplifying our operating model. The purchase of Technotia has enabled progress in the new core technology platform which will underpin Praemium’s next generation of wealth management capabili ty. Together with sustained HNW adviser engagement we have a clear pathway to improved operating leverage into FY27.” Quarterly Statistics Platform FUA Movement ($m) Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Growth on pcp Opening Platform FUA 30,002 30,673 31,995 32,537 32,212 7.4% Total inflows 1,867 2,174 2,010 1,815 2,133 14.2% Total outflows (1,904) (1,624) (1,548) (1,217) (1,817) (4.6%) Net flows (37) 550 462 598 316 954.7% Net flows (OneVue exits) (23) (75) (46) (108) (67) (191.3%) Net flows (Other Adviser exits) (170) (37) (93) (41) (55) 67.6% Net flows (ex. Adviser exits) 156 662 601 747 438 180.9% Net Flow % of opening FUA (0.1%) 1.8% 1.4% 1.8% 1.0% Market revaluation / other 1 708 772 80 (923) 1,450 104.7% Closing Platform FUA 30,673 31,995 32,537 32,212 33,978 10.8% Scope+ 33,649 34,968 37,940 41,486 43,896 30.5% TOTAL FUA 64,322 66,963 70,477 73,698 77,874 21.1% 1 Market movement of $772 million in Q1 FY26 included $286 million recognised reduction in FUA balance in relation to holdings in First Guardian. Non-custodial Portfolios Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Growth on pcp Scope 64,436 60,419 61,881 58,783 56,513 (12.3%) Scope+ 9,570 9,835 10,696 11,969 12,793 33.7%
Page 4
Yearly Statistics Platform FUA Movement ($m) FY23 FY24 FY25 FY26 Growth on pcp Opening Platform FUA 19,481 22,201 28,059 30,673 9.3% Total inflows 5,277 4,971 7,034 8,132 15.6% Total outflows (3,915) (5,154) (6,197) (6,206) 0.1% Net flows 1,362 (183) 837 1,926 130.1% Net flows (OneVue exits) - - (23) (296) - Net flows (Other Adviser exits) (63) (782) (644) (226) (64.9%) Net flows (ex Adviser exits) 1,425 599 1,504 2,448 62.8% Net Flow % of opening FUA 7.0% (0.8%) 3.0% 6.3% OneVue acquisition - 4,078 - - - Market revaluation / other 1 1,359 1,962 1,777 1,379 (22.4%) Closing Platform FUA 22,201 28,059 30,673 33,978 10.8% Scope+ 21,823 29,307 33,649 43,896 30.5% TOTAL FUA 44,024 57,366 64,322 77,874 21.1% 1 Market movement of $772 million in FY26 included $286 million recognised reduction in FUA balance in relation to holdings in First Guardian. This announcement is authorised by the Board of Praemium Limited. For further information contact Anthony Wamsteker, CEO, or Emma Stepcic, CFO, on investors@praemium.com or 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.