AMP LIMITED — Capital/Financing Update 2025

Jan 30, 2025

ASX Release

31 January 2025

AMP announces details for FY 24 Results

AMP Limited will announce its FY 24 Results on Friday 14 February 2025. An analyst and investor briefing with CEO Alexis George and CFO Blair Vernon, starting at 11.00am can be viewed (listen only) via webcast here: AMP FY 24 Results Webcast.

Updated reporting template

Ahead of its FY 24 Results, AMP today provides an updated reporting template. This follows the completed sale of the AMP Advice business, which will be treated as discontinued operations going forward.

AMP’s ongoing 30% stake in the joint venture with Entireti, as well as a small amount of retained items, will be reported within the Group business unit going forward.

As announced, the stranded costs that emerge from the transaction will be addressed within the existing Business Simplification program.

The restatement (Appendix 1) reflects the removal of the revenue and the direct cost base of the Advice business.

Media enquiries

Investor enquiries

Brett Zarb Richard Nelson Mobile: +61 417 256 563 Mobile: +61 455 088 099 Adrian Howard Jo Starr Mobile: +61 413 184 488 Mobile: +61 416 835 301

All amounts are in Australian dollars (A$) unless otherwise stated. Authorised for release by the Market Disclosure Committee.

Appendix I: Updated reporting template for FY 24 Results

Profit and loss ($m) FY 24 2H 24	1H 24	FY 23
Revenue AUM based revenue Net interest income Strategic partnerships Other revenue	380 163 37 41	751 373 58 84
Total revenue	621	1,266
Variable costs Investment management expense Marketing and distribution Brokerage and commissions Loan impairment expense Other variable costs Total variable costs	(62) (14) (40) (1) (31) (148)	(143) (27) (82) (7) (59) (318)
Gross profit	473	948
Controllable costs Employee costs Technology Regulatory, insurance and professional services Project costs Property costs Other operating expenses Total controllable costs	(123) (84) (26) (36) (33) (15) (317)	(294) (160) (76) (72) (62) (26) (690)
EBIT	156	258
Interest expense Investment income Tax expense	(27) 35 (44)	(61) 83 (75)
NPAT (underlying) AMP Bank Platforms Superannuation & Investments New Zealand Wealth Management Group	120 35 54 34 17 (20)	205 93 90 53 34 (65)
NPAT (underlying) by business unit	120	205
Items reported below NPAT Discontinued operations	(15) (2)	62 (2)
NPAT (statutory)	103	265

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