Silvercrest Asset Management Group (SAMG) investor relations material

Executive summary

• Discretionary AUM rose 6.9% sequentially to $24.7 billion at June 30, 2026, and 4.2% year-over-year, driven by market appreciation despite net client outflows, including seasonal tax-related withdrawals and institutional outflows.

• Total AUM increased 3.6% sequentially and 0.8% year-over-year to $37.0 billion, with organic new client account flows of $111 million, up from $81 million in Q1.

• Revenue for Q2 2026 was $30.8 million, up 0.4% year-over-year, reflecting stable average AUM levels.

• Institutional pipeline and global/international equity strategies remain robust, highlighted by a new AUD 500 million ($351 million) investment in the Global Value strategy.

• Strategic build-out in global infrastructure and distribution is nearing completion, with MiFID licensing in Ireland expected by Q3 end and new hires in Dublin.

Financial highlights

• Q2 2026 revenue was $30.8 million, up 0.4% year-over-year; six-month revenue was $62.2 million, up 0.2%.

• Q2 2026 net income was $0.5 million (1.5% margin), down from $3.1 million (10.3%) in Q2 2025, reflecting higher expenses and lower profitability.

• Adjusted EBITDA for Q2 2026 was $3.4 million (11.2% margin), down from $5.7 million (18.7%) in Q2 2025.

• Adjusted net income for Q2 2026 was $1.2 million; adjusted EPS was $0.10.

• Compensation and benefits expense for Q2 2026 was $20.5 million, 66.6% of revenue.

Outlook and guidance

• Discretionary AUM at an all-time high entering Q3, expected to drive higher future revenue.

• MiFID license in Ireland expected by end of Q3 2026, with European and Australian distribution infrastructure nearing completion.

• Administrative and legal costs related to global expansion are expected to decline as licensing and infrastructure build-out complete.

• Compensation ratio will remain elevated as investment in talent and infrastructure continues.

• G&A expenses are expected to decrease post-licensure, with some recurring statutory and administrative costs remaining.