• Profit attributable to shareholders decreased 11% to $67.3 million
• Funds under management increased 13% to $202.5 billion
• Announced acquisition of 5% stake in Japanese private markets firm Advantage Partners

Pinnacle Investment Management Group Limited reported a profit attributable to shareholders of $67.3 million for the half year ended 31 December 2025, a decrease of 11% compared to the prior corresponding period. This translated to earnings per share of 30.4 cents (basic) and 30.1 cents (fully diluted), representing decreases of 18% in both basic earnings and on a fully diluted basis. An interim dividend of 29.0 cents per share, franked to 80%, has been declared. Aggregate Affiliates' funds under management increased by 13% during the half year from $179.4 billion at 30 June 2025 to $202.5 billion at 31 December 2025, with total net inflows of $17.2 billion. Affiliate revenues including performance fees grew by 85% over the prior corresponding period (128% excluding performance fees). Within the Pinnacle Parent, staff costs were deliberately grown by a total of $4.9 million (22%) compared to the prior corresponding period. The return on Principal Investments, prior to interest expense, for the half year was $3.9 million. In October 2025, the company announced the acquisition of up to 13% of Advantage Partners, the largest independent, multi-strategy private markets platform in Japan, via an initial 5% stake for A$92 million and a 3-year option over a further 8%. Subsequent to the reporting period, the company also reached an agreement to acquire the remaining 79.2% interest in Pacific Asset Management LLP.