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")

7 April 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 £175 million of which £90 million were conducted on the London Stock
Exchange and £85 million were conducted on the Johannesburg Stock Exchange. To date, 132.5 million
Quilter shares have been acquired, and cancelled, at an average price of 132 pence.

Following Prudential Regulation Authority approval for a third tranche of repurchases of up to £100
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 £50 million (“Tranche 3a”), 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 3b”).

Company shares will be purchased on UK trading venues including the London Stock Exchange (“UK
Exchanges”), and on the Johannesburg Stock Exchange (“JSE”). The maximum consideration payable
by the Company under Tranche 3a of the Programme is approximately up to £50 million in aggregate
with a minimum of £10 million being purchased by the Company on each of (i) the UK Exchanges and
(ii) the JSE. GSI will carry out the instruction during the period starting on 7 April 2021 and ending no
later than 29 June 2021 (the Purchase Period) for the acquisition of ordinary shares in the Company
for subsequent repurchase by the Company.

Any Company shares repurchased on the UK Exchanges under Tranche 3a 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 (as in force in the UK from time to time, including where relevant
pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2019) and the Company’s authorities
to repurchase Company shares. Any Company shares repurchased on the JSE under Tranche 3a 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
JSE.

                                                – ends –
Enquiries:

John-Paul Crutchley – Head of Investor Relations           Tel: +44 (0)7741 385 251

                                                           Tel: +44 (0)7790 012 066
Jane Goodland – Corporate Affairs Director

Patrick Gonsalves – Company Secretary                      Tel: +44 (0)7391 867 081


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 £117.8 billion in customer investments (as at 31 December 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 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.

Since its IPO in June 2018, the Group’s businesses have progressively re-branded to Quilter. The UK
Platform is the final business to rebrand and this is expected to occur by mid-2021. The descriptor for
the re-branded businesses are:

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 Proprietary Limited




                                                   

Date: 07-04-2021 08:00:00
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