AMP (AMP) Trading update summary

Executive summary

• Underlying NPAT for 1H 26 is expected to be between $170 million and $180 million, reflecting a significant increase from prior periods.

• Growth is primarily driven by stronger China partnerships, favorable investment income, and recognition of carried interest.

Financial highlights

• China partnerships contributed approximately $56 million, a 24% increase compared to 2H 25.

• Group investment income improved by about $5 million over 1H 25 due to higher interest rates.

• Platforms segment benefited from a $5 million favorable impact from the North Guarantee in 1H 26.

• Recognition of $13 million in carried interest from the partial sale of legacy fund assets.

• Negative revaluation of $12 million in sponsor investments within 'Other Partnerships.'

Outlook and guidance

• Further guidance on FY 26 outlook will be provided with the 1H 26 results announcement on 6 August 2026.

• Potential for additional carried interest earnings exists, but realization is uncertain and contingent on future asset sales.