QUILTER PLC - Share buyback programme update

Share buyback programme update

QUILTER PLC
Incorporated under the Companies Act 1985 with registered number 06404270
and re-registered as a public limited company under the Companies Act 2006)
ISIN CODE: GB00BDCXV269
JSE SHARE CODE: QLT
Quilter plc (the "Company")




FOR IMMEDIATE RELEASE

27 May 2021

                                          Quilter plc

                            Share buyback programme update

In connection with the capital return 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. 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 the most efficient and effective
means of returning capital to shareholders.

Repurchases to date total £225 million of which £122 million were conducted on the London
Stock Exchange and £103 million were conducted on the Johannesburg Stock Exchange. To
date, 163.5 million Quilter shares have been acquired, and cancelled, at an average price of
137.7 pence per share.


Following Prudential Regulation Authority approval for a third tranche of repurchases of up to
£100 million, of which £50 million was executed by Goldman Sachs International under Tranche
3a, the Company has entered into various agreements with J.P. Morgan Securities plc and J.P.
Morgan Equities South Africa Propriety Limited (collectively “JPM”) under which it has issued
an irrevocable instruction for JPM to manage the next tranche of the programme of up to £50
million (“Tranche 3b”).


Company shares will be purchased on European trading venues including the London Stock
Exchange and on the Johannesburg Stock Exchange. The minimum purchase on each exchange
will be £10 million. JPM will carry out the instruction during the period starting on 27 May 2021
and ending no later than 31 August 2021 (“the Engagement Period”) for the acquisition of
ordinary shares in the Company for subsequent repurchase by the Company. The maximum
consideration payable by the Company under Tranche 3b of the Programme is approximately
up to £50 million in aggregate.


Any Company shares repurchased on such European trading venues under Tranche 3b of 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 Company shares. Any Company shares repurchased on the Johannesburg Stock
Exchange under Tranche 3b of the Programme will be effected in accordance with the
Company’s authorities to repurchase shares. The repurchase of Company shares may be
discontinued in the event the Company ceases to have the necessary authorities to repurchase
ordinary shares.


The Company will cancel the repurchased Company shares.

JPM and/or its affiliates may undertake transactions in Company 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
JPM and/or its affiliates as a result of or as part of the Programme, but JPM and/or its affiliates
will continue to make any disclosures it is otherwise legally required to make. JPM may effect
purchases of Company shares on the Johannesburg Stock Exchange through one or more of
its affiliates or any broker-dealer authorised to trade on the Johannesburg Stock Exchange.




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 £119.9 billion in customer investments (as at 31 March 2021).

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 Private
Client Advisers, Quilter Financial Planning and Quilter Financial Advisers), the discretionary fund
management business (Quilter Cheviot) and the Multi-asset investment solutions business
(Quilter Investors). Wealth Platforms includes the Old Mutual Wealth UK Platform and Quilter
International, including AAM Advisory in Singapore.

JSE Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

Date: 27-05-2021 08:00:00
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