Slides
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Thursday 29 October 2026 Perpetual Limited (ASX:PPT) 2026 Annual General Meeting
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© 2026 Perpetual Limited. All Rights Reserved. This presentation is in summary form and is not necessarily complete. It should be read together with Perpetual Limited’s (Perpetual) consolidated financial statements and other announcements lodged with the Australian Securities Exchange (ASX), which are available at www.asx.com.au. The presentation is general information and is not intended to provide you with financial advice or take into account your objectives, financial situation or needs. You should consider, with a financial adviser, whether the information is suitable for your circumstances. References to “Perpetual” in this presentation are to Perpetual Limited ABN 86 000 431 827, unless stated otherwise. References to “Perpetual Group” or “Group” are to Perpetual Limited and its subsidiaries. This presentation contains information that is based on projected and/or estimated expectations, assumptions or outcomes. Forward looking statements regarding future performance, strategy, targets, ambitions, plans, objectives, targeted completion dates and financial outcomes are provided for illustrative purposes only. These statements are subject to a range of risk factors. Perpetual cautions against reliance on any forward-looking statements. While Perpetual has prepared this information based on its current knowledge and understanding and in good faith, there are risks and uncertainties involved which could cause results to differ from projections. Perpetual will not be liable for the correctness and/or accuracy of the information, nor any differences between the information provided and actual outcomes and reserves the right to change its projections from time to time. Perpetual undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this presentation, subject to disclosure obligations under the applicable law and ASX listing rules. This presentation may contain information contributed or prepared by third parties. Any information contributed or prepared by third parties is believed to be accurate as at the time of compilation and is being provided in good faith without independent verification. Perpetual does not warrant the accuracy or completeness of any information provided by a third party. All investments are subject to risk which means the value of investments may rise or fall, which means that you may receive back less than your original investment. No company in the Perpetual Group guarantees the performance of any security, fund or the return of an investor’s capital. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. Past performance is not indicative of future performance. Disclaimer 2
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Chair Mr Greg Cooper
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© 2026 Perpetual Limited. All Rights Reserved. 4 Karen Hopkins Global Lead Partner KPMG
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© 2026 Perpetual Limited. All Rights Reserved. 5 Presentation of FY26 Financial Statements and Reports Resolution 1: Re-appointment of Board endorsed candidate Ms Fiona Trafford-Walker as a Non-executive Director Resolution 2a and 2b: Approval of the FY26 variable incentive equity grants to the CEO and Managing Director Resolution 3: Adoption of the FY26 Remuneration Report Today’s Agenda
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Chair Mr Greg Cooper
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© 2026 Perpetual Limited. All Rights Reserved. 7 Voting is now open Voting will close five minutes after close of meeting
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© 2026 Perpetual Limited. All Rights Reserved. How to vote online Need help? Call 1800 990 363 Click ‘Get a Voting Card’ (top and bottom of platform) Enter your SRN/HIN or Proxy Number and Postcode Click ‘Submit Detail and Vote’ Get a Voting Card 1 2 Fill out your voting card for each item of business Click ‘Submit Vote’ 3 8
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© 2026 Perpetual Limited. All Rights Reserved. Asking a question online 9 Asking a question by phone Ask a Question ? Only Shareholders and Proxyholders are able to ask questions Comments on resolutions can also be submitted through ‘Ask a Question’ Click on ‘Ask a Question’ 1 Select ‘General Business’ or a specific resolution 2 Type in your question and click ‘Submit’ 3 Only questions or comments pertaining to the AGM and specific resolution will be addressed Mute your webcast. Click on 'Ask a Question' and then 'Go to Web Phone' A pop up box will appear with a microphone test. Select Start Call and you will be able to listen to the meeting Dial *1 on your keypad at any time to ask a question The moderator will introduce you at the right time When your line is unmuted ask your question or make a comment
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Chair’s address Mr Greg Cooper
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CEO’s address Mr Bernard Reilly
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© 2026 Perpetual Limited. All Rights Reserved. 12 Group strategy Our goal is for Perpetual to be a strong financial services group, with differentiated businesses, that operate with discipline, to deliver improved returns for our shareholders over time Simplify Deliver operational excellence Invest for growth Simplify the Group and drive greater autonomy and accountability Strong client engagement built on quality products and services. Disciplined cost, performance and capital management Improve performance and measured investment to deliver earnings growth
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© 2026 Perpetual Limited. All Rights Reserved. Sale of Wealth Management Simplification program Gross debt2 Dividends (cps) and payout ratio (%) Obtained the required AFSL variations from ASIC and Bain Capital receiving ACCC approval On track to complete in the final quarter of the 2026 calendar year, subject to the satisfaction of remaining conditions precedent1 in annualised cost savings achieved through simpler processes, reduced duplication and operating model improvements On track to deliver up to $80 million by the end of FY27 Lower than at 30 June 2025, through higher cash generation and disciplined capital management Expect to move to a net cash (net debt free) position post the sale of the Wealth Management business Enhanced financial flexibility and capacity for additional capital management alongside dividends Delivering on our priorities 13 Sale of Wealth Management expected to complete in this quarter1 15% $72.6 million 1. Refers to completion of the sale of Wealth Management. Completion remains subject to satisfaction or waiver of the remaining conditions precedent, including required regulatory and court approvals. While the transaction is well progressed, there can be no certainty as to its ultimate timing or completion. 2. Gross debt of $629.3 million at 30 June 2026 was 15% lower than at 30 June 2025. 61 54 59 63 70% 60% 60% 70% 1H25 2H25 1H26 2H26 Dividends (cps) Payout ratio (%)
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© 2026 Perpetual Limited. All Rights Reserved. Asset Management1 Corporate Trust1 Wealth Management1 September quarter business update5 903.9 200.9 880.5 207.5 Revenue UPBT ($m) 235.6 51.5 233.5 44 Revenue UPBT ($m) Overview of FY26 and September quarter business update 14 1. As at 30 June 2026. 2. Diluted EPS on UPAT is calculated using the weighted average number of ordinary shares and potential ordinary shares of 116,674,625 for FY26. 3. Dividends payable as a proportion of UPAT on ordinary fully paid shares at the end of each reporting period. Perpetual’s dividend policy is to pay dividends within a range of 60% to 90% of UPAT on an annualised basis and maximising returns to shareholders. 4. UPBT is defined as underlying profit before tax. 5. For Assets Under Management (AUM) in the US region, a conversion rate of AUD:USD - 0.70 at 30 September 2026 was used, and for AUM in the EUKA region, a conversion rate of AUD:GBP - 0.53 at 30 September 2026 was used. 6. As at 30 September 2026. 204.2 90.9 220.8 98.8 Revenue UPBT ($m) FY26FY25 FY26FY25 FY26FY25 FY26FY25 FY26FY25 FY26FY25 Revenue 4UPBT Revenue 4UPBT Revenue 4UPBT Assets under management5 $212.0 billion6 Funds under administration $1.4 trillion6 Funds under advice $22.1 billion6 (1)% (15)% (3)% 8% 3% 9% Underlying profit after tax1 $217.0m 6% Operating revenue1 $1,374.2m 0% Underlying earnings per share1,2 186.0cps 3% Dividends1,3 122.0cps 6%
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© 2026 Perpetual Limited. All Rights Reserved. Building a simpler, stronger and more focused Perpetual 15 Two complementary businesses1, each with growth opportunities, underpinned by 140 years of experience Complementary earnings Diversified exposure Avenues for growth • Asset Management offers greater upside from stronger equity markets • Corporate Trust helps provide greater earnings stability • Across key markets including Australia, Asia, UK, Europe and US • Client base spanning institutional, intermediary and retail clients • Product innovation to support Asset Management • Expanding capability to support Corporate Trust 1. Following the completion of the sale of Wealth Management. Completion remains subject to satisfaction or waiver of the remaining conditions precedent, including required regulatory and court approvals. While the transaction is well progressed, there can be no certainty as to its ultimate timing or completion.
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FY27 key priorities 16 Complete the sale of Wealth Management, further deleverage the balance sheet and increase financial flexibility Deliver cost reduction commitments and continue building a leaner, more efficient structure Retain market position in Corporate Trust and invest in expanding capability Targeted product innovation and selective investment in new capabilities across Asset Management Invest in technology and productivity initiatives to support scalable growth
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Chair Mr Greg Cooper
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Financial statements and reports for the Financial Year ended 30 June 2026
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© 2026 Perpetual Limited. All Rights Reserved. Asking a question online 19 Asking a question by phone Ask a Question ? Only Shareholders and Proxyholders are able to ask questions Comments on resolutions can also be submitted through ‘Ask a Question’ Click on ‘Ask a Question’ 1 Select ‘General Business’ or a specific resolution 2 Type in your question and click ‘Submit’ 3 Only questions or comments pertaining to the AGM and specific resolution will be addressed Mute your webcast. Click on 'Ask a Question' and then 'Go to Web Phone' A pop up box will appear with a microphone test. Select Start Call and you will be able to listen to the meeting Dial *1 on your keypad at any time to ask a question The moderator will introduce you at the right time When your line is unmuted ask your question or make a comment
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Chair Mr Greg Cooper
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Resolution 1: Re-appointment of Ms Fiona Trafford-Walker That Ms Fiona Trafford-Walker be re-appointed as a Director of the Company 21
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Chair of People and Remuneration Committee Ms Fiona Trafford-Walker
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Chair Mr Greg Cooper
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© 2026 Perpetual Limited. All Rights Reserved. Resolution 1: Re-appointment of Ms Fiona Trafford-Walker Valid proxies received For 61,126,129 Open 560,398 Against 1,858,826 Abstain 121,500 % cast FOR the Resolution 96.19% % cast AGAINST the resolution 2.93% 24
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© 2026 Perpetual Limited. All Rights Reserved. How to vote online Need help? Call 1800 990 363 Click ‘Get a Voting Card’ (top and bottom of platform) Enter your SRN/HIN or Proxy Number and Postcode Click ‘Submit Detail and Vote’ Get a Voting Card 1 2 Fill out your voting card for each item of business Click ‘Submit Vote’ 3 25
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Chair Mr Greg Cooper
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That approval is given for all purposes, including ASX Listing Rule 10.14, for the issue of share rights to Mr Bernard Reilly as part of his variable incentive equity grant for the performance period ended 30 June 2026 on the terms described in the Explanatory Memorandum accompanying this Notice of Annual General Meeting. Resolution 2a: Approval of the FY26 variable incentive equity grants to the CEO and Managing Director – Grant of Share Rights 27 Voting exclusion for resolutions 2a and 2b The Company will disregard any votes on resolutions 2(a) and 2(b): • cast in favour of the resolution by or on behalf of Mr Bernard Reilly and his associates, regardless of the capacity in which the vote is cast; or • cast as proxy by a person who is a member of the Company’s key management personnel (KMP) on the date of the AGM or their closely related parties, unless the vote is cast on the relevant resolution: • as proxy or attorney for a person entitled to vote on the resolution in accordance with a direction given to the proxy or attorney to vote on the resolution in that way; or • by the Chair of the AGM as proxy for a person entitled to vote on the resolution, in accordance with an express authorisation to exercise the proxy as the Chair decides; or • in favour of the resolution by a holder acting solely in a nominee, trustee, custodial or other fiduciary capacity on behalf of a beneficiary provided the following conditions are met: • the beneficiary provides written confirmation to the holder that the beneficiary is not excluded from voting, and is not an associate of a person excluded from voting, on the resolution; and • the holder votes on the resolution in accordance with directions given by the beneficiary to the holder to vote in that way.
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© 2026 Perpetual Limited. All Rights Reserved. Resolution 2a: Approval of the FY26 variable incentive equity grants to the CEO and Managing Director – Grant of Share Rights 28 Valid proxies received For 60,371,665 Open 563,376 Against 2,683,844 Abstain 56,129 % cast FOR the Resolution 94.90% % cast AGAINST the resolution 4.22%
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© 2026 Perpetual Limited. All Rights Reserved. How to vote online Need help? Call 1800 990 363 Click ‘Get a Voting Card’ (top and bottom of platform) Enter your SRN/HIN or Proxy Number and Postcode Click ‘Submit Detail and Vote’ Get a Voting Card 1 2 Fill out your voting card for each item of business Click ‘Submit Vote’ 3 29
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Chair Mr Greg Cooper
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Resolution 2b: Approval of the FY26 variable incentive equity grants to the CEO and Managing Director – Grant of Performance Rights 31 That approval is given for all purposes, including ASX Listing Rule 10.14, for the issue of performance rights to Mr Bernard Reilly as part of his variable incentive equity grant on the terms described in the Explanatory Memorandum accompanying this Notice of Annual General Meeting. Voting exclusion for resolutions 2a and 2b The Company will disregard any votes on resolutions 2(a) and 2(b): • cast in favour of the resolution by or on behalf of Mr Bernard Reilly and his associates, regardless of the capacity in which the vote is cast; or • cast as proxy by a person who is a member of the Company’s key management personnel (KMP) on the date of the AGM or their closely related parties, unless the vote is cast on the relevant resolution: • as proxy or attorney for a person entitled to vote on the resolution in accordance with a direction given to the proxy or attorney to vote on the resolution in that way; or • by the Chair of the AGM as proxy for a person entitled to vote on the resolution, in accordance with an express authorisation to exercise the proxy as the Chair decides; or • in favour of the resolution by a holder acting solely in a nominee, trustee, custodial or other fiduciary capacity on behalf of a beneficiary provided the following conditions are met: • the beneficiary provides written confirmation to the holder that the beneficiary is not excluded from voting, and is not an associate of a person excluded from voting, on the resolution; and • the holder votes on the resolution in accordance with directions given by the beneficiary to the holder to vote in that way.
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© 2026 Perpetual Limited. All Rights Reserved. Resolution 2b: Approval of the FY26 variable incentive equity grants to the CEO and Managing Director – Grant of Performance Rights 32 Valid proxies received For 60,812,185 Open 556,391 Against 2,249,852 Abstain 56,591 % cast FOR the Resolution 95.59% % cast AGAINST the resolution 3.54%
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© 2026 Perpetual Limited. All Rights Reserved. How to vote online Need help? Call 1800 990 363 Click ‘Get a Voting Card’ (top and bottom of platform) Enter your SRN/HIN or Proxy Number and Postcode Click ‘Submit Detail and Vote’ Get a Voting Card 1 2 Fill out your voting card for each item of business Click ‘Submit Vote’ 3 33
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Chair Mr Greg Cooper
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To adopt the Remuneration Report for the financial year ended 30 June 2026. Resolution 3: Remuneration Report Voting exclusion for resolution 3: The Company will disregard any votes cast on resolution 3: • by or on behalf of a member of the Company’s KMP whose remuneration is disclosed in the Company’s 2026 Remuneration Report or their closely related parties, regardless of the capacity in which the vote is cast; or • as proxy by a person who is a member of the Company’s KMP on the date of the AGM or their closely related parties, unless the vote is cast as proxy for a person entitled to vote on resolution 3: • in accordance with a direction on the proxy form; or • by the Chair of the AGM, in accordance with an express authorisation to exercise the proxy even though resolutions 3 and 4 (if required) are connected with the remuneration of the Company’s KMP. 35
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Chair, People and Remuneration Committee Ms Fiona Trafford-Walker
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Chair Mr Greg Cooper
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© 2026 Perpetual Limited. All Rights Reserved. Resolution 3: Remuneration Report 38 Valid proxies received For 59,913,029 Open 563,825 Against 3,053,245 Abstain 103,475 % cast FOR the Resolution 94.31% % cast AGAINST the resolution 4.81%
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© 2026 Perpetual Limited. All Rights Reserved. How to vote online Need help? Call 1800 990 363 Click ‘Get a Voting Card’ (top and bottom of platform) Enter your SRN/HIN or Proxy Number and Postcode Click ‘Submit Detail and Vote’ Get a Voting Card 1 2 Fill out your voting card for each item of business Click ‘Submit Vote’ 3 39
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Chair Mr Greg Cooper
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Questions
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Thank you