AMP 1Q 26 cashflows and business update

• 45% growth in Platforms net cashflows
• Continued improvement in Superannuation & Investments net cash outflows
• AMP Bank GO deposits grow to $942 million, up $632 million on 4Q 25

AMP Limited has reported its 1Q 26 cashflows and business update, highlighting several key developments across its wealth management and banking businesses. Platforms net cashflows increased by 45% to $1.1 billion, driven by the benefit of new adviser relationships built over the past 12-24 months. Superannuation & Investments net cash outflows also improved by 26% to $80 million, supported by initiatives to address member retention and acquisition. In New Zealand, cashflows were reflective of current market uncertainty, but AMP sees a growing opportunity to target the retirement segment. AMP's partnerships in China continued to deliver strong growth, with AUM in China Life Pension Company (CLPC) up 17% in FY 25 to approximately RMB 2.4 trillion (~A$515 billion). AMP Bank's GO deposits performed strongly, growing to $942 million, up $632 million from 4Q 25, driven by the Qantas Frequent Flyer offer and competitive GO Save rates. The bank's total loan book remained steady at $24.1 billion. AMP is focused on optimizing the bank's balance sheet through capital relief transactions to reduce the capital deployed. The company also announced a $150 million on-market share buyback, demonstrating its commitment to returning surplus capital to shareholders.

FY 26 AMP Bank GO deposits are now expected to exceed $1.5 billion, while all other guidance remains unchanged and is subject to market conditions.