29 July 2026

Positive momentum towards successful delivery of 2026 Plan

Adjusted operating profit up 21% to £151m

Revenue growth and continued focus on efficiency driving higher profitability and capital generation

Confident in the delivery of Group targets for 2026

Summary results

1. Comparative as at 31 December 2025.

2. Excludes Institutional & Retail Wealth (I&RW) liquidity net outflows of £2.0bn (H1 2025: £1.4bn outflow).

Jason Windsor, Chief Executive Officer, said:

"In a dynamic market, the Group produced a strong performance. Adjusted operating profit is up 21% year-on-year and net capital generation is up 47%.

"interactive investor performed very strongly, delivering record net inflows in the first half of the year, with customer numbers up by 14% to 525k. With clear plans to further deepen customer engagement in a fast growing and attractive market, I am excited by the significant momentum we have in the UK D2C market.

"In Adviser, adjusted operating profit was broadly stable on H1 last year at £41m. We have made significant improvements to service, the proposition and client experience, however we have more work to do to achieve growth in flows. Rich Denning, the new CEO, is focused on actions to drive sustainable and profitable growth in the business.

"Within Investments, focus on efficiency helped to drive a 9% increase in adjusted operating profit to £38m. We have continued to see improvements in investment performance, and we are seeing positive momentum across a number of our specialist areas which, together with a number of bolt-on acquisitions, will support future earnings growth.

"Our focus for the second half of the year is on delivering more for our customers and achieving the 2026 targets that we have set for the Group. Looking ahead, we see substantial headroom for further growth across the business."

1. Section excludes financial planning business.

2. Includes performance and development fees.

Chief Executive Officer's statement

Introduction

Aberdeen has continued its positive trajectory through the first half of the year and we are confident in our ability to deliver the 2026 Group targets we set out.

Notwithstanding major geopolitical events, markets have proven resilient so far this year. As ever, our focus has remained firmly on supporting our customers and clients to navigate this environment. I would like to thank them, as well as our colleagues and partners, for their continued support and commitment.

Progress on our strategy and 2026 targets

Building on our progress in 2025, in H1 2026 we have seen a clear step up in our profitability, strengthened our capital position and grown shareholder value. We have continued to execute against our strategy:

•  interactive investor (ii): we delivered record net flows, and strong customer and profit growth while expanding our proposition and investing in the ii brand.

•  Adviser: we have made progress in client service, however, flows need to improve and we are not yet where we want to be. We have appointed a new CEO, Rich Denning, who is focused on returning the business to growth.

•  Investments: we delivered greater efficiency and focus and better investment performance in most asset classes and we have growing confidence in our pipeline. We are now focused on accelerating growth.

In June, we were pleased to enter the FTSE 100, which is testament to the delivery achieved by the team across Aberdeen. We are focused on maintaining that momentum by delivering the Group's FY 2026 targets of adjusted operating profit of at least £300m and net capital generation of c.£300m.

Overview of H1 2026 performance

The Group delivered a stronger financial performance in the first half of 2026, with revenue growth and improved efficiency supporting higher profitability and capital generation.

Record growth in ii underpinned a 21% year-on-year increase in Group adjusted operating profit to £151m (H1 2025: £125m), while net capital generation increased by 47% to £163m (H1 2025: £111m) driven by improved operating performance and our actions to unlock value from our DB pension scheme surplus.

IFRS profit before tax of £276m (H1 2025: £271m) included gains of £100m (H1 2025: gains of £155m) from the change in the value of our 10% stake in Standard Life plc, as well as lower restructuring and corporate transaction spend.

AUMA is up 4% over the first half, at £579.4bn (FY 2025: £556.0bn), with Group outflows (excluding liquidity) of £1.0bn (H1 2025: £0.5bn inflow).

Capital update

As noted at our Full year results in March, our capital position has further improved from the end of 2025, with our capital requirement now based on the Group's internal assessment. We have materially improved net capital generation over the past two years, whilst continuing to invest in growth areas. In line with our strategy to reduce debt, we intend to call our £0.2bn Tier 1 debt in December (subject to regulatory approval).

interactive investor

Strong momentum with profit up 18%¹, record net flows and trading

interactive investor continues to perform very strongly across all key measures. Customer numbers¹ increased by 14% year-on-year to 525k, with SIPP customers up 35% to 125k. ii's highest-ever net inflows of £6.8bn were recorded for H1, with AUMA reaching £107.7bn (FY 2025: £97.5bn). Increases in treasury income (up 33%), trading revenue (up 9%, despite FX repricing to improve competitiveness) and DARTs (up 42%) further underline the momentum in the business. Adjusted operating profit for the first half was £84m (H1 2025: £71m¹).

Adjusted operating expenses increased by £6m, reflecting investment in brand, technology and capacity to support future growth. Our costs/AUMA ratio improved which demonstrates the scalability of the business as we seek to capture the long-term structural growth opportunity in UK wealth.

The evolution of ii's pricing model has reinforced our competitiveness and appeal as we grow our customer numbers. We are focused on sustaining growth through continual improvements to our proposition, with the roll-out of ii 360 (our advanced trading platform) and ii Advice (our digital advice service) ongoing, and further opportunities to attract less confident investors onto the platform through services like ii Community (our social platform).

These initiatives - underpinned by ii's compelling flat fee proposition and powered by improving our brand awareness - will help us to build on steady progression in market share across trading, assets and new accounts. The compound effects of a growing share of a growing market are set to support future growth.

1. Excluding financial planning business.

Adviser

Broadly stable profit, net flows remain challenging with actions taken to return to growth

In Adviser, adjusted operating profit was broadly stable at £41m (H1 2025: £42m), with higher net operating revenue driven by growth in AUMA, offset by higher costs following the end of a temporary third-party outsourcing discount.

AUMA increased to £84.8bn (FY 2025: £80.4bn) reflecting positive market movements, partially offset by net outflows of £1.3bn (H1 2025: £0.9bn), within which gross inflows increased by £0.3bn and redemptions by £0.7bn.

Rich Denning and his team are focused on driving profitable growth. In H1 we simplified the operational environment, including the in-sourcing of client operation teams from FNZ. We continued to focus on service, with our Net Promoter Score now up to +53, more straight-through processing and a 90% improvement in onboarding times for Wrap.

Our focus now is on converting this work into sustainable commercial performance in a market where consolidation has changed the landscape. We are refining our distribution strategy, and by leveraging AI to help offer advisers lower friction, better integration and lower cost to serve, we are confident we can deliver to the evolving needs of the market.

Our conviction in Adviser is unchanged. The proposition is strong, the platform works well, and the operational progress we have made gives us a much stronger base from which to improve flows over time.

Investments

Financial performance benefiting from lower costs

Investments showed improving performance in the first half of 2026, with adjusted operating profit up 9% to £38m (H1 2025: £35m). This was driven by our continued focus on operational efficiency, with expenses down 3%, partly offset by slightly lower revenue that reflected the timing of performance and development fees.

Investments AUM increased to £397.5bn (FY 2025: £390.4bn), benefiting from positive markets. Net outflows in Institutional and Retail Wealth (I&RW), excluding liquidity, were £5.6bn, which included the c.£4bn of lower margin equities withdrawals previously flagged. Insurance Partner outflows improved substantially to £0.8bn, which includes the benefit of asset allocation changes and DC workplace pension-related business from Standard Life. We are also seeing strong momentum across a number of our specialist areas, with £1.4bn of net inflows in Real Assets, positive flows in Wholesale in 10 of the last 12 months, and growing demand for geographic diversification benefiting our strategic focus on Emerging Markets.

Investment performance continued to strengthen, with 86% of assets outperforming over the three-year period (FY 2025: 80%). Equities performance continues to improve, with positive momentum in our emerging market strategies and thematic funds. Despite the volatile geopolitical market backdrop, strong investment returns and outperformance continue to be delivered by our fixed income, liquidity, quantitative and alternatives teams.

We continue to make good progress in restoring growth and profitability to Investments. In H1, we demonstrated our ability to grow our Closed End Fund franchise through acquisitions. We are preparing to welcome the Herald team to Aberdeen in August. The team manages the Herald Investment Trust and Herald Worldwide Technology Fund (£0.8bn of AUM), enhancing our technology investing capabilities. This transaction is expected to close imminently.

We remain focused on accelerating growth across our highest-conviction opportunities, including Private Markets, Emerging Markets, Quant strategies and commodities ETFs - supported by product innovation, enhanced distribution capabilities and deeper strategic partnerships.

People and culture

A healthy culture is the essential ingredient for success. I am proud of the way colleagues across the Group have united behind our plan.

We have a number of new members on our Executive Leadership Team (ELT). As noted above, in May, Rich Denning joined as Adviser CEO. In June, Caroline Macefield joined Aberdeen as Chief Internal Audit Officer. I also invited Mark Thomas, Chief Strategy Officer, and Alain Courbebaisse, our Group Deputy COO and Investments COO, to join the ELT.

Looking ahead to H2 2026

We are confident in our ability to deliver our 2026 Group targets. Although financial markets can be turbulent, the fundamental dynamics continue to offer long-term attractive growth opportunities for our Wealth businesses.

Following ii's strong performance in H1 2026, we expect further growth in the second half of this year and beyond. The opportunities for growth in Adviser are expected to continue as the IFA market rapidly develops. In Investments, lower costs, better investment performance and a focus on specialist areas of strength set us up for future success. The Stagecoach and MFS transactions announced last year, together with the Herald transaction, are also set to deliver a positive impact.

AI is emerging as a meaningful enabler of growth and efficiency across the Group. Building on strong adoption to date, we will continue to focus AI capabilities on delivering leading customer outcomes, increased productivity and long-term value creation. I am also pleased that, as we roll-out Copilot across the business, colleagues are embracing the opportunity to learn and implement AI.

Closing comments

Our aspiration is to become the UK's leading Wealth and Investments group. We are now laying the foundation for our next phase of growth. Our focus will remain on consistent execution and improving performance and proposition, while delivering better outcomes for customers and clients and creating lasting value for our shareholders.

A year and a half into the delivery of our strategy, while my team and I take some satisfaction from our progress, we are impatient to go further in achieving our true potential.

Jason Windsor

Chief Executive Officer

Results summary

Profitability

IFRS profit before tax was £276m including adjusted operating profit of £151m and adjusted net financing costs and investment return of £50m. Adjusting items were £75m (H1 2025: £90m) including inter alia:

•  Restructuring and corporate transaction expenses reduced to £24m (H1 2025: £41m), including costs relating to the final stages of our transformation programme, which will complete by the end of 2026.

•  Gains of £100m (H1 2025: gains of £155m) from the change in fair value of significant listed investments as a result of the increase in the share price of Standard Life plc in H1 2026.

 Adjusted operating profit was £151m, which is £26m, or 21%, higher than H1 2025, driven by growth in revenue and lower operating expenses. This included strong revenue growth in ii partly offset by lower revenue in Investments. Lower expenses reflected the benefit of cost reduction activity, particularly in Investments, partly offset by continued investment in ii.

Net operating revenue

Net operating revenue increased by 2% to £643m primarily reflecting:

•  £45m benefit of favourable market movements.

•  £(34)m impact of net outflows, primarily in equities, and changes to asset mix resulting in lower Investments revenue margin.

•  £24m of other margin changes, including higher treasury income in ii, partially offset by the impact of the repricing in Adviser during Q1 2025.

•  £(14)m net impact from corporate actions, mainly reflecting the sale of the financial planning business, which completed on 30 January 2026.

•  £(9)m lower real assets development fee revenue in Investments due to timing of projects and lower performance fees.

Adjusted operating expenses

Adjusted operating expenses reduced by 2% reflecting our continued focus on efficiency including the benefits of our transformation programme, and the net benefit from corporate actions:

•  Staff costs (excluding variable compensation) broadly in line with H1 2025, with transformation benefits offset by increased investment to drive growth in ii and salary increases.

•  Higher variable compensation reflects business performance.

•  7% reduction in non-staff costs, with cost savings partly offset by the impact of inflation and AUM-related expenses.

1. See Supplementary information for a reconciliation to IFRS staff and other employee-related costs.

Assets under management and administration

AUMA increased by 4% to £579.4bn (FY 2025: £556.0bn):

•  Total net outflows of £3.0bn include liquidity net outflows of £2.0bn. Excluding liquidity, net outflows were £1.0bn, with inflows in ii of £6.8bn, offset by outflows in Investments and Adviser.

•  Market and other movements of £26.5bn, mainly reflecting positive market movements in Investments and ii.

•  Corporate actions (net of eliminations) of £(0.1)bn relating to the sale of the financial planning business and the acquisition of MFS closed end funds.

 Capital generation

Adjusted capital generation, which shows how adjusted profit contributes to regulatory capital, increased by 26% to £182m. Capital generation benefited by £19m from the utilisation of a portion of the DB pension scheme surplus to fund the cost of providing DC benefits to current employees.

Net capital generation increased by 47% to £163m and net diluted capital generation per share increased to 8.9p. Net capital generation benefited from the higher adjusted capital generation described above, as well as from lower restructuring and corporate transaction costs.

Earnings per share

•  Adjusted diluted earnings per share increased to 8.2p (H1 2025: 7.5p) due to the higher adjusted profit after tax.

•  Diluted earnings per share of 13.2p (H1 2025: 13.5p) which mainly reflects the lower benefit from favourable market movements in our shareholding in Standard Life plc. This reduction was partly offset by the higher adjusted profit after tax.

Dividends

The Board has declared an interim dividend for 2026 of 7.3p (H1 2025: 7.3p) per share. The dividend payment is expected to be £131m. The interim dividend payment is covered 1.39 times (H1 2025: 1.11 times) on an adjusted capital generation basis and 1.24 times (H1 2025: 0.85 times) on a net capital generation basis.

interactive investor

1. Comparative as at 31 December 2025.

2. Includes financial planning business AUA of £3.6bn at 31 December 2025. The sale of this business completed on 30 January 2026.

3. Net of £4m (H1 2025: £4m) of marketing incentives.

Adjusted operating profit

•  Adjusted operating profit increased by 22% to £84m, reflecting continued strong revenue growth partly offset by higher expenses.

Net operating revenue

•  Revenue of £175m was £21m higher than H1 2025, reflecting continued strong customer growth and diversified revenue streams. Excluding the impact of the sale of the financial planning business, revenue was £31m or 22% higher than H1 2025. ii introduced a new rate card on 1 February 2026.

•  Subscription revenue, gross of marketing incentives, increased by 13% to £34m (H1 2025: £30m), driven by the 14%⁴ growth in customer numbers. Average subscription fee revenue per customer has remained largely unchanged following the repricing implemented in February, with more customers benefiting from the value and increased AUMA threshold of the Core plan, offsetting the impact of higher average base plan fees.

•  Trading revenue increased by 9% to £49m, with the number of daily average retail trades up 42% to 35.7k in H1 2026, compared to H1 2025. This was driven by growing customer numbers as well as increased customer engagement and trading activity, partly offset by the impact of the repricing with lower FX fees significantly enhancing the competitiveness of our proposition.

•  Treasury income increased by 33% to £100m, as a result of higher average cash balances, reflecting growth in AUMA, driven by growth in customer numbers, particularly SIPP accounts which attract higher average balances.

•  The average cash margin in H1 2026 was 234bps (H1 2025: 221bps).

•  Fee income of £2m relates to the financial planning business. The sale of this business completed on 30 January 2026.

Adjusted operating expenses

•  Expenses increased by £6m or 7% (25% increase excluding the financial planning business), reflecting investment in brand awareness, technology developments and capacity to support growth including record transfer-in activity.

•  The cost/AUMA ratio improved to 18bps from 21bps in H1 2025. Excluding the financial planning business, cost/AUMA ratio was lower at 18bps (H1 2025: 19bps) reflecting scalability of the business offset by investment to drive growth.

AUMA

•  AUMA increased to £107.7bn driven by strong net inflows reflecting sustained customer growth, particularly in SIPP. AUMA also benefited from positive market movements, partly offset by the impact of the sale of the financial planning business.

•  Average customer cash balances as a percentage of average AUMA were 8.4%⁴ (H1 2025: 8.8%⁴).

•  Total customers increased by 14% to 525k⁴ (H1 2025: 461k⁴) due to organic growth and the acquisition of the direct-to-consumer retail book from Jarvis Investment Management Limited in July 2025. Excluding the Jarvis acquisition, customer growth was c.9%.

•  Record number of SIPP transfers, with the number of customers holding a SIPP account up by 35% to 124.7k⁴
(H1 2025: 92.4k⁴).

4. Excludes the financial planning business.

Net flows

•  Net inflows increased by 70% to a record of £6.8bn benefiting from the repricing and increasing brand awareness which have further enhanced our market-leading offering and are driving customer asset consolidation.

Adviser

1. Comparative as at 31 December 2025.

2. Includes Platform AUA of £81.1bn (31 December 2025: £77.0bn) and MPS AUMA of £3.7bn (31 December 2025: £3.4bn).

Adjusted operating profit

•  Adjusted operating profit was 2% lower at £41m (H1 2025: £42m) reflecting higher revenue offset by the temporary third-party outsourcing discount ending in February 2025.

Net operating revenue

•  Revenue increased by 1% to £103m due to higher platform charges.

•  Platform charges increased by 1% to £73m, reflecting higher average AUMA driven by positive market movements, partly offset by the impact of the repricing and strategic pricing initiatives implemented in 2025.

•  Treasury income on client cash balances was stable at £15m, reflecting higher average cash balances offset by lower average cash margins as a result of Bank of England rate cuts in 2025.

•  The average margin earned on client cash balances during H1 2026 was 242bps (H1 2025: 257bps).

Net operating revenue yield

•  Yield decreased to 25.3bps due to the impact of the implementation of repricing which was applied to the back book in Q1 2025.

•  In addition to the strategic reprice, we continue to offer targeted firm-level pricing arrangements and pricing support for larger individual cases, ensuring that our proposition remains competitive and responsive to adviser needs.

Adjusted operating expenses

•  Adjusted operating expenses were higher due to the benefit from a temporary third-party outsourcing discount ending in February 2025 (benefit in H1 2025: £4m), coupled with higher AUMA related costs driven by favourable market performance and growth in average assets.

AUMA

•  AUMA increased to £84.8bn reflecting positive market movements, partially offset by net outflows.

•  Average AUMA of £82.1bn was 9% higher than H1 2025.

•  Average customer cash balances as a percentage of average AUMA (excluding bonds and Wrap SIPP) remained stable at 2.6% (FY 2025: 2.6%).

Gross and net flows

•  Net outflows were higher at £1.3bn (H1 2025: £0.9bn) reflecting a £0.7bn increase in gross outflows, partly offset by £0.3bn higher gross inflows.

•  Improved service levels, enhanced platform functionality and repricing continued to support underlying activity during the period, contributing to higher gross inflows.

•  Focus remains on returning to growth, with emphasis on building operational momentum that translates into net inflows, where Wrap is our core growth platform.

•  While redemption activity remained elevated, underlying business momentum improved and management remains focused on further enhancing the adviser and client proposition to support flow recovery.

•  Newly launched Aberdeen SIPP showing positive momentum, with c.4.8k new customers since launch in December 2025.

Investments

1. Comparative as at 31 December 2025.

2. Institutional & Retail Wealth liquidity net flows excluded.

3. As at 30 June 2026, 78% (31 December 2025: 76%) of AUM is covered by this metric. Further details about the calculation of investment performance, as well as breakdown of investment performance by asset class, are included in the Supplementary information section.

Adjusted operating profit

•  Adjusted operating profit increased by 9% or £3m to £38m, reflecting reduced costs partly offset by lower revenues.

Net operating revenue

•  Total revenue of £363m was 2% lower than H1 2025 reflecting stable management fee revenue of £362m
(H1 2025: £361m) offset by reduction in other fees (incl. performance fees) to £1m (H1 2025: £10m).

•  I&RW revenue was 1% lower at £308m (H1 2025: £310m) with the positive impact of markets offset by changes in asset mix, including the impact of outflows from equities, as well as lower other fees reflecting timing of performance fees and development fees linked to real asset projects.

•  Insurance Partners revenue was 10% lower at £55m (H1 2025: £61m), reflecting the impact of asset mix and lower pricing, offset by a 10% increase in average AUM to £173.9bn.

Adjusted operating expenses

•  Adjusted operating expenses reduced by £11m (3%) to £325m, primarily benefiting from transformation cost-reduction activity including lower outsourcing, staff costs, project and change spend, and market and data costs.

Net operating revenue yield

•  I&RW yield was 0.9bps lower at 28.1bps and Insurance Partners yield decreased to 6.4bps, largely due to changes in asset mix.

Gross and net flows

•  I&RW net outflows were £7.6bn. Excluding liquidity, net outflows were £5.6bn, reflecting the previously announced lower margin equities withdrawals of c.£4bn. Outflows also included £0.7bn from commodities-based ETFs, partly due to profit-taking and portfolio rebalancing following a strong rally in commodity prices in 2025. This was partly offset by a c.£1.3bn advisory mandate win within real assets and continued demand for our quantitative offering.

•  Insurance Partners net outflows of £0.8bn reflect heritage business in run-off. The improvement in the period includes the benefit of asset allocation changes and DC workplace pension-related business from Standard Life plc.

•  Increase in the pipeline of won-but-not-funded mandates providing visibility and confidence in outlook, including across our specialist areas. This includes a £1bn credit mandate previously expected in Q2, which funded in July.

Investment performance

•  Investment performance continued to strengthen, building on the progress made in 2025, with both 1-year (88%) and 3-year (86%) performance remaining significantly ahead of our 70% target.

•  Strong investment returns and outperformance continue to be delivered by our fixed income, liquidity, quantitative and alternatives teams.

•  Equity performance improved to 65% (FY 2025: 41%) and 44% (FY 2025: 28%) over 1-year and 3-years respectively. While it remains below the level we expect, there is positive momentum especially within our emerging market strategies and thematic funds.

Group performance

Adjusted net financing costs and investment return

Adjusted net financing costs and investment return resulted in a gain of £50m:

•  Investment gains, including from seed capital and co-investment fund holdings, of £13m (H1 2025: gains £15m).

•  Net finance income of £20m (H1 2025: £23m) reflecting a lower rate of interest on cash and liquid assets.

•  Net interest credit relating to the staff pension schemes was £17m (H1 2025: £18m).

Adjusting items

Restructuring and corporate transaction expenses were £24m. Restructuring costs of £23m (H1 2025: £32m) mainly relate to expenses incurred in the final stages of the transformation programme of £16m. Corporate transaction costs were £1m (H1 2025: £9m).

Amortisation and impairment of intangible assets acquired in business combinations and through the purchase of customer contracts reduced to £44m reflecting the reducing balance amortisation profile.

Change in fair value of significant listed investments of £100m from favourable market movements in our shareholding in Standard Life plc.

Dividends from significant listed investments of £29m relates to our shareholding in Standard Life plc.

Share of profit or loss from associates and joint ventures of £11m primarily relates to HASL.

Other includes a £2m benefit from net fair value movements in contingent consideration. See Note 2 for further details of other adjusting items.

Tax

The total IFRS tax expense attributable to the profit for the period is £29m (H1 2025: expense £19m), including a tax credit attributable to adjusting items of £15m (H1 2025: credit £21m), which results in an effective tax rate of 11% (H1 2025: 7%). The difference to the UK Corporation Tax rate of 25% is mainly driven by:

•  Dividend income and fair value movements from our investments in Standard Life plc not being subject to tax.

•  Utilisation of previously unrecognised historic losses against capital gains and overseas profits.

•  Pension scheme interest income included on a net of tax basis.

•  Non-deductible pension contributions funded from the defined benefit pension scheme.

The tax expense attributable to adjusted profit is £44m (H1 2025: £40m), an effective tax rate of 22% (H1 2025: 22%). This is lower than the 25% UK rate primarily due to the utilisation of previously unrecognised historic losses and pension scheme interest income included on a net of tax basis, offset by non-deductible pension contributions funded from the defined benefit pension scheme.

Liquidity and capital

Cash and liquid resources and distributable reserves

Cash and liquid resources remained robust at £1.6bn at 30 June 2026 (FY 2025: £1.8bn). These resources are high quality and mainly invested in cash, money market instruments and short-term debt securities. Cash and liquid resources held in Aberdeen Group plc were £0.5bn (FY 2025: £0.6bn).

Further information on cash and liquid resources, and a reconciliation to IFRS cash and cash equivalents, are provided in Supplementary information.

At 30 June 2026 Aberdeen Group plc had £3.2bn (FY 2025: £3.3bn) of distributable reserves.

IFRS net cash flows

•  Net cash inflows from operating activities were £161m (H1 2025: £241m) which includes outflows from restructuring and corporate transaction expenses, net of tax, of £26m (H1 2025: £42m).

•  Net cash outflows from investing activities were £176m (H1 2025: £490m inflows) reflecting the net impact of corporate cash management activity. H1 2025 included the maturity of cash invested in money market instruments which were not classified as cash equivalents.

•  Net cash outflows from financing activities were £171m (H1 2025: £222m) which includes £130m relating to the dividend payment.

The cash inflows and outflows described above resulted in closing cash and cash equivalents of £1,617m as at 30 June 2026 (FY 2025: £1,802m).

IFPR total own funds

The indicative total own funds at 30 June 2026 were £1,909m (FY 2025: £1,918m).

Key movements in total own funds are shown in the table below.

1. Financial planning business in H1 2026.

2. MFS in H1 2026. Jarvis in FY 2025.

3. Movement in T2 own funds relating to US$ FX rate and regulatory amortisation.

The full value of the Group's significant listed investment in Standard Life plc of £867m, and the IAS19 staff defined benefit pension scheme surplus of £796m, are excluded from the capital position under IFPR.

A summary of our capital base is shown in the table below.

£210m of Tier 1 debt is expected to be redeemed at the first call date in December 2026, subject to regulatory approval. This debt is contributing c.25ppts to capital coverage at H1 2026.

IFRS net assets

IFRS net assets attributable to equity holders increased to £5.0bn (FY 2025: £4.9bn) reflecting the IFRS profit before tax partly offset by dividends paid in the period:

•  Intangible assets were stable at £1.3bn (FY 2025: £1.3bn) reflecting additions in the period offset by regular amortisation. Further details are provided in Note 9.

•  Our principal defined benefit staff pension scheme, which is closed to future accrual, continues to have a significant surplus of £0.8bn (FY 2025: £0.8bn).

•  Financial investments increased slightly to £2.0bn (FY 2025: £1.7bn). At 30 June 2026, financial investments included £0.9bn (FY 2025: £0.8bn) in relation to our stake in Standard Life plc.

Principal risks and uncertainties

We believe that the Group will be exposed to the same risks during the second half of 2026 as those set out in March with the publication of the Annual report and accounts 2025. These cover the following nine categories: (i) Strategic, (ii) Financial, (iii) Conduct, (iv) Regulatory and Legal, (v) Process execution, (vi) People, (vii) Technology, Security and Resilience, (viii) Third party and (ix) Sustainability. The evolving nature of some of these risks is set out below.

Key developments in relation to our principal risks

The following developments are relevant to how we think about our principal risks for the second half of 2026:

•  Recent geopolitical events have led to higher energy prices and inflation pressures that have resulted in central banks signalling that policy rates are unlikely to fall for the next 12 months and may actually rise. While this may present a possible headwind for markets that may manifest in a slower rise in ad valorem fee revenue, it is supportive of business planning assumptions for interest margins.

•  Developments in the technology industry, especially in relation to Artificial Intelligence, are moving at a rapid pace and pose questions across a wide range of issues including (a) concentration of value in market indices and benchmarks, (b) forecasted profitability of historical software investments, (c) the evolution of workforce capabilities and operational processes and (d) sustainability.

•  Competitor activity in key business markets has the potential to impact our business models in those areas.

•  Cyber-related threats continue to evolve.

Media and analyst calls

A conference call for media will take place today at 07:15am (BST). To access the conference call, you will need to pre-register at: https://b.link/ABDN_MC_REG

A presentation for analysts and investors will take place at 08:00am (BST). To access a webcast of the presentation, please use the following link: https://brrmedia.news/ABDN_HY26

For further information please contact:

*Calls may be monitored and/or recorded. Call charges will vary.

LEI: 0TMBS544NMO7GLCE7H90

Forward-looking statements

This document may contain certain 'forward-looking statements' with respect to the financial condition, performance, results, strategies, targets (including sustainability targets), objectives, plans, goals and expectations of the Company and its affiliates. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts.

Forward-looking statements are prospective in nature and are not based on historical or current facts, but rather on current expectations, assumptions and projections of management of the Aberdeen Group about future events, and are therefore subject to known and unknown risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements.

For example but without limitation, statements containing words such as 'may', 'will', 'should', 'could', 'continues', 'aims', 'estimates', 'forecasts', 'projects', 'believes', 'intends', 'expects', 'hopes', 'plans', 'pursues', 'ensure', 'seeks', 'targets' and 'anticipates', and words of similar meaning (including the negative of these terms), may be forward-looking. These statements are based on assumptions and assessments made by the Company in light of its experience and its perception of historical trends, current conditions, future developments and other factors it believes appropriate.

By their nature, all forward-looking statements involve risk and uncertainty because they are based on information available at the time they are made, including current expectations and assumptions, and relate to future events and/or depend on circumstances which may be or are beyond the Group's control, including, among other things: UK domestic and global political, economic and business conditions; the impact of conflicts and geopolitical tensions (including the Russia-Ukraine conflict, and conflict involving Iran and in the Middle East) on global macroeconomic conditions, political stability and financial markets; market-related risks such as fluctuations in interest rates, exchange rates and commodity prices, and the performance of financial markets generally; the impact of inflation and deflation; the impact of competition; the impact of tariffs, both imposed and threatened, and changes to underlying policies governing global trade; the timing, impact and other uncertainties associated with future acquisitions, disposals or combinations undertaken by the Company or its affiliates and/or within relevant industries; risks affecting defined benefit pension schemes; experience in particular with regard to mortality and morbidity trends, lapse rates and policy renewal rates; the value of and earnings from the Group's strategic investments and ongoing commercial relationships; default by counterparties; information technology or data security breaches (including the Group being subject to cyberattacks); operational information technology risks, including the Group's operations being highly dependent on its information technology systems (both internal and outsourced) and the continued development and enhancement of said technology systems (including the utilisation of artificial intelligence (AI)); natural or man-made catastrophic events; the impact of pandemics; exposure to third-party risks including as a result of outsourcing; the failure to attract or retain necessary key personnel; the policies and actions of regulatory authorities and the impact of changes in capital, solvency or accounting standards, sustainability disclosure and reporting requirements, and tax and other legislation and regulations (including changes to the regulatory capital requirements) that the Group is subject to in the jurisdictions in which the Company and its affiliates operate. Metrics, projections, forecasts and other forward-looking statements relating to sustainability should be treated with particular caution given their complex nature, their dependence on models and methodologies which are nascent, and challenges with data quality, consistency and comparability. Risks and potential impacts arising due to climate change cannot be evaluated in the same way as more conventional financial risk due to their long-term nature and the way in which they interact with non-climate-related risks. As a result, the Group's actual future financial condition, performance and results may differ materially from the plans, goals, objectives and expectations set forth in the forward-looking statements.

Neither the Company, nor any of its associates, directors, officers or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this document will actually occur. Persons receiving this document should not place reliance on forward-looking statements. All forward-looking statements contained in this document are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Each forward-looking statement speaks only as at the date of the particular statement. Neither the Company nor its affiliates assume any obligation to update or correct any of the forward-looking statements contained in this document or any other forward-looking statements it or they may make (whether as a result of new information, future events or otherwise), except as required by law. Past performance is not an indicator of future results and the results of the Company and its affiliates in this document may not be indicative of, and are not an estimate, forecast or projection of, the Company's or its affiliates' future results.