Allfunds Group PLC — Earnings Release 2026

Apr 21, 2026

allfunds

Allfunds Publishes Trading Update for Q1 2026

London/Madrid/Amsterdam. 21 April 2026 - Allfunds Group plc ("Allfunds" or the "Company") (AMS: ALLFG), a leading global dealing and distribution platform in the wealth management industry, today releases a trading update for the three month-period ended 31 March, 2026.

Flows and commercial dynamics

• Allfunds' total assets under administration (AuA) stood at €1,766 billion, broadly in line with the end of 2025 and representing an increase of 16.4% year-on-year, underlining the strength and resilience of the Allfunds platform in the face of the challenging market conditions.
• Platform service AuA rose by 14.6% year-on-year to €1,253 billion, driven by robust net flows from both new and existing clients:
• Net flows of €21.7 billion in the first quarter represented a strong performance and accounted for 6.9% of Beginning-of-Period (BoP) platform service AuA on an annualised basis.
• Flows from existing clients reached €20.5 billion in the first quarter, equivalent to 6.6% of BoP platform service AuA on annualised basis.
• Migrations for the quarter remained broadly flat at €1.2 billion, driven by the timing impact of the deferred onboarding of a large new client.
• Market performance was -€18.4 billion in the first quarter, impacted by recent market volatility.
• Dealing & Execution AuA continued to grow, increasing 21.0% year-on-year to €512 billion.
• Allfunds' alternatives business continued to perform strongly and attract significant investor interest from both distributors and fund partners. As of 31 March 2026, 233 alternative fund partners are available on the platform, a 30.9% increase year-on-year and 9.4% since December 2025.
• Allfunds Alternatives Solutions grew to €37.9 billion AuA, 61.0% year-on-year and 12.1% since the end of 2025, driven by increasing retail customer appetite. A total of €20.7 billion of the overall alternatives AuA are under distribution agreement, reflecting a 68.0% increase versus the same period in 2025.
• Client onboarding continued at a solid pace in the first quarter, with 21 new distributors and 56 fund partners added, as clients replaced internal solutions and embraced open architecture.

Financial performance

• Total net revenue was €170.9 million in the first quarter, an 8.3% year-on-year increase, with solid structural growth of 10.3% excluding Net Treasury Income("NTI").
• Platform revenue reached €157.8 million, an 8.4% year-on-year increase with the platform margin, excluding Net Treasury income (NTI) at 3.1 basis points in the first quarter of 2026.
• Commission revenue increased by 13.9% year-on-year to €103.2 million in the first quarter, supported by significant growth in AuA.
• Transaction revenue rose to €33.5 million, a 1.5% year-on-year increase, driven by sustained customer activity.
• Net Treasury income came to €21.0 million in the first quarter, down 3.9% year-on-year, primarily due to the impact of a lower interest rate environment.
• Value added services (VAS) revenues of €13.1 million in the first quarter, up 7.6% year-on-year.

CEO statement

Annabel Spring, Chief Executive Officer, said:

"Allfunds delivered a strong set of results in the first quarter despite a complex market environment, clearly demonstrating the underlying resilience of our platform. With stable AuA, strong net flows including sustained growth in alternatives, we have significant momentum following our decisive refocusing last year"

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Non-financial highlights

Figures in € billion, unless otherwise stated	1Q 2026	1Q 2025	Change Y-o-Y (%)	Dec 2025	Change vs Dec 2025 (%)
AuA EoP	1,765.6	1,516.6	16.4%	1,760.4	0.3%
Platform Service	1,253.2	1,093.1	14.6%	1,249.9	0.3%
Dealing & Execution (1)	512.4	423.4	21.0%	510.4	0.4%
Platform Service Net flows	21.7	34.6	(37.4)%	120.6	n.m.
Flows from existing clients	20.5	23.8	(13.9%)	64.9	n.m.
Migrations (new clients)	1.2	10.8	(89.1)%	55.7	n.m.
Platform Service Market performance	(18.4)	(24.1)	(23.8%)	46.7	n.m.
Net flows as a % of BoP AuA (2)	1.7%	3.2%	(1.5 p.p.)	11.1%	n.m.
Net flows as a % annualised of BoP AuA (2)	6.9%	12.8%	(5.9 p.p.)	n.m	n.m.
D&E Flows	1.9	2.8	(30.2)%	89.8	n.m.
D&E Var. as a % of BoP AuA (3)	0.4%	0.7%	(0.3 p.p.)	21.3%	n.m.
D&E Var. as a % annualised of BoP AuA (3)	1.5%	2.6%	(1.1 p.p.)	n.m	n.m.

Note: AuA EoP refer to Assets under administration at End of Period ('EoP'), 31 March or 31 December. (1) AuA for which we provide only Dealing & Execution services. (2) Calculated as the sum of flows from existing clients and from new clients (migrations) over Allfunds total Platform service AuA as of Beginning-of-Period ('BoP') (for 1Q 2026, it is 31 December 2025 amounting to €1,249.9 billion; for 1Q 2025, it is 31 December 2024 amounting to €1,082.6 billion, and for December 2025, it is 31 December 2024 amounting to €1,082.6 billion). (3) Variation coming from Dealing and Execution AuA refers to market performance, flows from existing clients and flows from new clients (migrations). Percentage calculated as total D&E variation over Dealing & Execution AuA as of Beginning-of-Period (for 1Q 2026, it is 31 December 2025 amounting to €510.4 billion; for 1Q 2025, it is 31 December 2024 amounting to €420.6 billion, and for December 2025, it is December 2024 amounting to €420.6 billion).

Financial highlights

Figures in € million, unless otherwise stated	1Q 2026	1Q 2025	Change Y-o-Y (%)
Net Platform revenue	157.8	145.5	8.4%
o/w Commission revenue	103.2	90.6	13.9%
o/w Transaction revenue	33.5	33.0	1.5%
o/w Net Treasury income	21.0	21.8	(3.9)%
Value added services (VAS) revenues	13.1	12.2	7.6%
Total net revenue	170.9	157.7	8.3%
Total net revenue ex. NTI	149.9	135.9	10.3%

Note: 1Q 2026 financial data unaudited. Note 2: All figures exclude assets classified as "Non-current assets held for sale" under IFRS 5.

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Media

Sara Boyes, Global Head of Communications +44 (0)7926 287615 sara.boyes@allfunds.com

Investors

Allfunds Group Investor Relations +34 91 274 64 00 investors@allfunds.com

Conference call and webcast

At 9:30 AM BST / 10:30 AM CEST / 4:30 AM EDT, today, 21 April 2026 Annabel Spring, CEO, and Alvaro Perera, CFO, will host a conference call to present the trading update and offer. To access the call, kindly pre-register in the following link:

https://www.netroadshow.com/events/login/LE9zwo4C1l5TsrIqhRW0uTVdMkVRnoJjOdU

Once you have registered, you will receive an email with your personal credentials: dial-in numbers, access code and PIN number. A conference call replay will be available on our website on the same day at www.allfunds.com

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allfunds

Important Information

This press release may contain inside information within the meaning of Article 7(1) of Regulation (EU) 596/2014 (Market Abuse Regulation).

For the purposes of this disclaimer, Allfunds Group plc and its consolidated subsidiaries are referred to as "Allfunds".

Non-IFRS and alternative performance measures

This document may contain non-IFRS and alternative performance measures ("APMs"). Allfunds considers these APMs and non-IFRS measures to be useful metrics for our management and investors to compare operating performance between accounting periods, but they should be considered supplemental information to, and are not meant to substitute, IFRS measures. For further details on non-IFRS measures, including its definition or a reconciliation with IFRS measures, please see the 2025 Annual Report of Allfunds available on the investors section of the corporate website (www.allfunds.com).

Forward-looking statements

Certain statements in this document may be forward-looking. There are a number of risks, uncertainties and other important factors which could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These include, among other factors, changing economic, business, or other market conditions, changing political conditions and the prospects for growth anticipated by the management of Allfunds. Any forward-looking statements contained in this document based upon past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Allfunds does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No undue reliance should be placed in such forward-looking statements.

Past performance does not indicate future outcomes

Statements about historical performance or growth rates must not be construed as suggesting that future performance, share price or earnings (including earnings per share) will necessarily be the same or higher than in a previous period. Nothing mentioned in this document should be taken as profit and loss forecast.

Not a securities offer

This press release does not constitute or form part of, and should not be construed as, an offer of securities nor a solicitation to make such an offer, in any jurisdiction. The press release neither constitutes investment advice or recommendation with respect to any securities of Allfunds, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. Any purchase of or subscription for securities of Allfunds shall be based solely on each investor's own analysis of all public information, the assessment of risk involved and its own determination of the suitability of any such investment. No reliance shall be placed, and no decision shall be based, on this document.

The distribution of this document in some jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about and observe any such restrictions.

This document is subject to, and should be viewed solely in conjunction with, all the publicly available information provided by the Allfunds. It does not intend to provide, and recipients may not rely on these materials as providing, a complete or comprehensive analysis of Allfunds' financial or trading position or prospects.

The information and opinions contained in this document are provided as at its date and are subject to verification, correction, completion and change without notice. No obligation is undertaken to provide access to any additional information that may arise in connection with it.

Third party information

With respect to the data provided by third parties, neither Allfunds nor any of its directors, managers or employees, either explicitly or implicitly, guarantees that these contents are exact, accurate, comprehensive or complete, nor are they obliged to keep them updated, nor to correct them in the case that any deficiency, error or omission were to be detected. Allfunds assumes no liability for any discrepancy.

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