QUILTER PLC - Share buyback programme update

Share buyback programme update

QUILTER PLC
(previously, Old Mutual Wealth Management Limited)
Incorporated under the Companies Act 1985 (UK) with registered number 06404270 and re-registered as a
public limited company under the Companies Act 2006) (UK)
The Company has a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg
Stock Exchange.
ISIN CODE: GB00BDCXV269
JSE SHARE CODE: QLT
Quilter plc (the "Company")



13 October 2020

                                                   Quilter plc

                                     Share buyback programme update

In connection with the return of capital of up to £375 million announced on 2 January 2020, Quilter plc (“the
Company”) initiated a share buyback programme (“the Programme”) on 11 March 2020 to purchase shares
with a value of up to £375 million in order to reduce the share capital of the Company, subject to remaining within
certain pre-set parameters including appropriate market safe harbour rules and shareholder authorities. As
previously indicated, the Programme is subject to staged regulatory approval and the Board will continue to keep
the Programme under review to make sure it remains appropriate, including ongoing consideration of the financial
position and prospects of the business given the market environment, and to make sure it remains the most
efficient and effective means of returning capital to shareholders.


Repurchases to date total £125 million of which £65 million were conducted on the London Stock Exchange and
£60 million were conducted on the Johannesburg Stock Exchange. To date, 96.5 million Quilter shares have been
acquired, and cancelled, at an average price of 129.5 pence.


The first tranche of the Programme began on the 11 March 2020 and ended in May 2020. Following Financial
Conduct Authority approval for a second tranche of repurchases of up to £125 million, on 25 June 2020 the
Company launched the second tranche of the share buyback programme, (Share buyback programme update).
The Company mandated Goldman Sachs International to undertake the first part of a second tranche of buyback
of up to £75 million (Tranche 2a). Tranche 2a completed on 30 September 2020. The Company has now entered
into an agreement with J.P. Morgan Securities plc (“JPMS plc”) under which it has issued an irrevocable
instruction to JPMS plc to manage the remaining tranche of the share buyback programme (Tranche 2b) in respect
of shares to be purchased by the Company on European trading venues including the London Stock Exchange
(“the UK Buyback”). An additional agreement has been entered into with J.P. Morgan Equities South Africa
Propriety Limited (“JPMESA”) in respect of shares to be purchased by the Company on the Johannesburg Stock
Exchange (“the SA Buyback”). JPMS plc and JPMESA will carry out the instruction during the period starting
on 13 October 2020 and ending no later than 9 March 2021 (“the Purchase Period”) through the acquisition
of ordinary shares in the Company for subsequent repurchase by the Company. The maximum consideration
payable by the Company under this tranche of the Programme is approximately up to £25 million in respect of the
SA Buyback and up to £25 million in respect of the UK Buyback.
Any shares repurchased under the Programme will be effected in accordance with Chapter 12 of the Listing Rules
of the Financial Conduct Authority, the Market Abuse Regulation 596/2014 and the Company’s authorities to
repurchase shares and will be discontinued in the event the Company ceases to have the necessary authorities to
repurchase ordinary shares.


The Company will cancel the repurchased shares.


JPMS plc and/or its affiliates may undertake transactions in Shares (which may include sales and hedging activities,
in addition to purchases which may take place on any available trading venue or on an over the counter basis)
during the Purchase Period in order to manage its market exposure under the Programme. Disclosure of such
transactions will not be made by JPMS plc and/or its affiliates as a result of or as part of the Programme, but JPMS
plc and/or its affiliates will continue to make any disclosures it is otherwise legally required to make.


                                                      - end -


Enquiries

Investor Relations:

John-Paul Crutchley              +44 (0)7741 385 251

Keilah Codd                      +44 (0)7776 649 681

Media:

Jane Goodland                    +44 (0)7790 012 066

Tim Skelton-Smith                +44 (0)7824 145 076

Camarco
Geoffrey Pelham-Lane             +44 (0)20 3757 4985

Company Secretary:

Patrick Gonsalves                +44 (0)20 7778 9670
About Quilter plc

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity
for the generations of today and tomorrow.

Quilter plc oversees £107.4 billion in customer investments (as at 30 June 2020).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment
solutions; and discretionary fund management.

The business is comprised of two segments: Advice and Wealth Management and Wealth Platforms.

Advice and Wealth Management encompasses the financial planning businesses, Quilter Financial Planning,
Quilter Private Client Advisers and Quilter Financial Advisers; the discretionary fund management business, Quilter
Cheviot; and Quilter Investors, the Multi-asset investment solutions business. Wealth Platforms includes the
Old Mutual Wealth UK Platform and Quilter International, including AAM Advisory in Singapore.

Since its IPO in June 2018, the Group’s businesses have progressively re-branded to Quilter. The UK Platform will be
the final business to rebrand; this will follow the safe delivery of the new platform technology. Descriptor for re-
branded business units:

Previous                                            New
Intrinsic                                           Quilter Financial Planning
Old Mutual Wealth Private Client Advisers           Quilter Private Client Advisers
Quilter Investors                                   Quilter Investors
Quilter Cheviot                                     Quilter Cheviot
UK Platform                                         Quilter Investment Platform
International                                       Quilter International


JSE Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd

Date: 13-10-2020 09:00:00
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