QUILTER PLC - Share buyback programme update

Share buyback programme update

QUILTER PLC
(previously, Old Mutual Wealth Management Limited)
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")



25 June 2020

                                           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 Company 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. The period for the initial
tranche of the Programme was announced as commencing on 11 March 2020 and ending no later
than 29 May 2020. 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 £50.2 million of which £27.6 million were conducted on the London
Stock Exchange and £22.6 million were conducted on the Johannesburg Stock Exchange. 43.2
million Company shares were acquired, and cancelled, at an average price of 116.14 pence.

Following Financial Conduct Authority approval for a second tranche of repurchases of up to £125
million, the Company has entered into various agreements with Goldman Sachs International (GSI)
under which it has issued an irrevocable instruction for GSI to manage the next tranche of the
Programme of up to £75 million (“Tranche 2a”), and the Company’s implementation of the
remaining £50 million of Company share repurchases shall remain subject to further
consideration of the Company at a later date (“Tranche 2b”).

Company shares will be purchased on European trading venues, including the London Stock
Exchange, and on the Johannesburg Stock Exchange. The purchases are expected to be equally
split between the Company’s UK and South African share registers. GSI will carry out the
instruction during the period starting on 25 June 2020 and ending no later than 25 November 2020
(the Purchase 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 2a of the Programme is approximately up to £75 million in aggregate.

Any Company shares repurchased on such European trading venues under Tranche 2a 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 2a 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.

GSI 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 GSI and/or
its affiliates as a result of or as part of the Programme, but GSI and/or its affiliates will continue to
make any disclosures it is otherwise legally required to make. GSI 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:

 John-Paul Crutchley – Head of Investor Relations         Tel: +44 (0)75 9530 1018

 Jane Goodland – Corporate Affairs Director               Tel: +44 (0)77 9001 2066

 Patrick Gonsalves – Company Secretary                    Tel: + 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 £95.3 billion in investments (as at 31 March 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 business, 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: 25-06-2020 08:00:00
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