Strong AUM Growth and Strategic …

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• AUM and Fee Earning Assets: $56.8 billion at the end of Q3, up 14% year-over-year.

• Retail Mutual Funds Net Sales: $262 million, or 0.08% of mutual fund AUM.

• SMA and ETF AUM: Increased by 64% year-over-year to $3.5 billion.

• Adjusted Diluted EPS: $0.46, up 18% from the previous quarter.

• Short- and Long-term Investments: $432 million on the balance sheet.

• Net Debt: $17 million with $186 million remaining on the credit facility.

• Dividend: $12.5 per share declared for Q3 2025.

• Adjusted EBITDA: $46 million, $7 million higher than Q2 and $6 million higher year-over-year.

• SG&A Expenses: $61 million, up $2 million from both the previous quarter and the same time last year.

• Adjusted Net Income: $31 million.

• Free Cash Flows: $31 million, up $7 million from Q2.

• Net Management Fees: $92 million for the quarter, $8 million higher than the prior quarter.

• AGF Capital Partners Revenue: $16 million for the quarter.

• Trailing-12 Month Free Cash Flows: $108 million.

• Share Buybacks: Over 1 million shares repurchased for approximately $12 million.

• Enterprise Value: Approximately $920 million with a 3.7 times enterprise value to EBITDA multiple.

Release Date: September 24, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

• AGF Management Ltd (AGFMF) reported a 14% year-over-year increase in AUM and fee-earning assets, reaching $56.8 billion.

• The company achieved net sales of $262 million in retail mutual funds, outpacing the Canadian mutual fund industry.

• Adjusted diluted EPS increased by 18% from the previous quarter, reaching $0.46.

• AGF Management Ltd (AGFMF) maintained a strong balance sheet with $432 million in short- and long-term investments and $186 million remaining on its credit facility.

• The company’s European subsidiary was accepted as a signatory to the UK Stewardship Code, highlighting its commitment to best practices in investment stewardship.

• The sudden passing of former CEO and CIO Kevin McCreadie marked a significant loss for the company.

• AGF Management Ltd (AGFMF) received a redemption notice from an institutional client for $500 million, driven by the client’s shift toward passive management.

• SG&A expenses increased by $2 million from both the previous quarter and the same time last year, primarily due to higher performance-based compensation.

• Revenues from AGF Capital Partners decreased compared to the prior year due to elevated recurring manager earnings and carried interest income in Q3 of 2024.

• The company is undergoing a global search for a permanent CIO, indicating a period of transition in its leadership team.