FUM as at 31 December 2025

• GQG Partners experienced net outflows of US$2.1 billion for December 2025
• Total net outflows for the year ended 31 December 2025 were US$3.9 billion
• Positive investment performance of US$14.8 billion offset net outflows, bringing total FUM to US$163.9 billion

GQG Partners Inc reported Funds Under Management (FUM) of US$163.9 billion as at 31 December 2025, down from US$153.0 billion as at 31 December 2024. The decrease was due to net outflows of US$3.9 billion for the year, which were partially offset by positive investment performance of US$14.8 billion. For the month of December 2025, GQG Partners experienced net outflows of US$2.1 billion. The company maintained a defensive positioning through the end of the year, which resulted in relative underperformance across all its strategies versus their benchmarks for the year. However, the company noted that its management fees, which are a percentage of assets managed, continue to comprise the vast majority of its net revenue, rather than performance fees. The company's management team remains highly aligned with shareholders and clients and is focused on GQG's future.