Financial Performance - Management/advisory fees increased to $49,633,000 for the three months ended September 30, 2024, compared to $44,004,000 for the same period in 2023, representing an increase of 6.1%[41] - Total income for the three months ended September 30, 2024, was $53,343,000, up from $48,186,000 in the same period of 2023, reflecting a growth of 10.0%[41] - Total operating expenses decreased to $69,356,000 for the three months ended September 30, 2024, down from $73,255,000 in the same period of 2023, a reduction of 5.2%[41] - Net income (loss) attributable to AlTi Global, Inc. was $(68,638,000) for the three months ended September 30, 2024, compared to $(89,671,000) for the same period in 2023, showing an improvement of 23.4%[41] - Total comprehensive income (loss) for the three months ended September 30, 2024, was $(115,690,000), compared to $(182,677,000) for the same period in 2023, indicating a reduction in losses of 36.6%[42] - Basic net income (loss) per share was $(0.88) for the three months ended September 30, 2024, compared to $(1.41) for the same period in 2023, reflecting an improvement of 37.5%[41] - The net loss for the period ending September 30, 2024, was $98,619,000, compared to a net loss of $172,768,000 for the previous period[49] - For the nine months ended September 30, 2024, AlTi Global reported a net loss of $98,619,000, an improvement from a net loss of $234,928,000 for the same period in 2023, representing a 58% reduction in losses[54]. Asset Management - The company managed or advised approximately $77.3 billion in combined assets as of September 30, 2024[58]. - As of September 30, 2024, AlTi Global, Inc. had $68.3 billion in Assets Under Administration (AUA) for the Wealth & Capital Solutions segment, up from $58.7 billion as of December 31, 2023, representing a growth of approximately 27.2%[77] - The International Real Estate segment reported AUA of approximately $8.9 billion as of September 30, 2024, down from $12.7 billion as of December 31, 2023, indicating a decline of about 30%[83]. Shareholder Equity and Capital Structure - The total shareholders' equity as of September 30, 2024, is $1,039,494,000, reflecting an increase from $782,493,000 at the beginning of the year[47] - The weighted average shares of Class A common stock outstanding increased to 86,399,551 for the three months ended September 30, 2024, from 63,568,646 in the same period of 2023, an increase of 35.8%[41] - The balance of Class A Common Stock shares increased to 93,686,980 as of September 30, 2024, from 65,110,875 at the beginning of the year[47] - The company issued 2,100,000 shares to the Alvarium Employee Benefit Trust, resulting in an increase of $21,000,000 in additional paid-in capital[51] - The total amount of preferred shares issued, net of issuance costs, was $280,612,000 as of September 30, 2024[47]. Cash Flow and Liquidity - Cash flows from operating activities resulted in a net cash outflow of $50,596,000 for the nine months ended September 30, 2024, compared to an outflow of $81,001,000 in the same period of 2023, indicating a 37% improvement[54]. - Cash flows from investing activities showed a net cash outflow of $53,467,000 for the nine months ended September 30, 2024, compared to an outflow of $132,383,000 in the same period of 2023, reflecting a 60% decrease in cash used for investments[57]. - The company reported a cash and cash equivalents balance of $222,138,000 at the end of the period, a significant increase from $14,363,000 at the end of September 30, 2023[57]. - As of September 30, 2024, restricted cash and cash equivalents amounted to $7.1 million, up from $5.4 million as of December 31, 2023, indicating increased liquidity requirements for regulatory compliance[121]. Business Combinations and Acquisitions - The Company acquired 51% of the equity interests of Umbrella, which holds 100% of the equity interests of Alvarium, TWMH, and TIG[179] - The total purchase consideration for the Business Combination was $1,071.1 million, including contingent consideration of $85.1 million[185] - The Company incurred $17.8 million in acquisition-related costs and $4.6 million in debt issuance costs during the period ended September 30, 2023[184] - The Company completed the acquisition of EEA for $69,182,000 during the nine months ended September 30, 2024[57]. - The total purchase consideration for the acquisition of AlTi Wealth Management (Singapore) Pte Limited was $15.5 million, paid entirely in cash[196] - The acquisition of AlTi Wealth Management (Switzerland) SA involved a total purchase consideration of $16.8 million, including cash, equity, and deferred payments[206] - The acquisition of East End Advisors, LLC had a total purchase consideration of $93.1 million, which includes estimated contingent consideration of $23.3 million based on future EBITDA performance[218]. Impairment and Losses - The company reported an impairment loss on goodwill and intangible assets of $(116,082,000) for the three months ended September 30, 2024, compared to $(153,859,000) in the same period of 2023, a decrease of 24.6%[41] - The company recognized an intangible asset impairment charge of $23.5 million related to the disposal of LXi REIT Advisors Limited, recorded in the year ended December 31, 2023[87] - The impairment charge for indefinite lived intangible assets was $44.9 million due to reassessment related to changes in reporting segments[193]. Revenue Recognition - The company recognizes revenue from investment management, trustee, and custody fees based on the fair value of assets under administration (AUA), which can fluctuate due to market movements[110] - Incentive fees are recognized when it is no longer probable that a significant reversal of revenue will occur, calculated as a percentage of net profit from customer earnings[114]. Strategic Initiatives - The company is currently evaluating strategic options for its Real Estate Businesses, which are no longer considered core to its forward-looking strategy[76] - The company aims to finalize its strategic review of the Real Estate Businesses by year-end 2024[76].

Financial Data and Key Metrics Changes - Assets under management and advisement grew 13% year-over-year to $77 billion, with a 9% increase on a like-for-like basis [12] - Revenues for Q3 2024 were $53.3 million, up 8% from the previous quarter and 11% compared to Q3 2023, with 97% of revenues coming from recurring fees [12][34] - Adjusted EBITDA was $9.6 million, an increase of $12.6 million compared to Q3 2023, with a 62% increase in the core Wealth & Capital Solutions segment [13][40] Business Line Data and Key Metrics Changes - Wealth & Capital Solutions segment revenues increased 17% to $51.7 million in Q3 2024 compared to $44 million in Q3 2023, with assets in this segment growing 22% year-over-year [36][20] - International Real Estate segment revenues were $1.5 million in Q3 2024, down from $4.1 million in Q3 2023 due to exiting and restructuring certain businesses [37] Market Data and Key Metrics Changes - The target market represents a $102 trillion addressable market expected to grow at a 7% CAGR by 2028, with increasing demand for integrated capabilities from trusted advisors [7][19] - The global private debt market, initially focusing on approximately $1.5 trillion, is expected to see significant interest from ultra-high-net-worth clients [11] Company Strategy and Development Direction - The company aims to expand its global platform and establish itself as a leading wealth management firm for ultra-high-net-worth clients, focusing on alternatives and impact investing [6] - Strategic partnerships with Allianz X and Constellation Wealth Capital have been established to enhance wealth management solutions and expand market presence [8][10] - A strategic review of the real estate businesses has led to a restructuring of segment reporting, focusing on core business strengths [14][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of the private debt market and its importance in wealth management portfolios [49] - The company is focused on maintaining tight cost discipline while investing in infrastructure and talent to support growth [52] - Management anticipates that falling interest rates will benefit the company's ability to borrow and enhance portfolio performance [58] Other Important Information - The company recorded a GAAP net loss of $111.4 million, primarily due to $116.1 million in goodwill and intangible asset impairment charges [39] - The company had $222 million in cash and $128 million in debt at the end of the quarter, positioning it well for growth [43] Q&A Session Summary Question: Demand for private debt in ultra-high-net-worth portfolios - Management indicated that private debt is already a significant allocation in many portfolios, generating competitive returns and helping to diversify against inflation [49][50] Question: Run rate for expenses - Management noted improvements in normalized expenses year-over-year, with ongoing efforts to reduce costs while making necessary investments [51][52] Question: Technology focuses with the new CTO - The focus includes improving service delivery, data control, and operational efficiency through technology investments [54][55] Question: Impact of interest rates and potential U.S. election effects - Management highlighted that higher interest rates create a more attractive fixed income environment for portfolios, while avoiding political discussions [58][59]

n 1970 第2 @ � $ t o a re . SA t do E te 心 B 48 g gg d A OTI 130 8 2 g . B p F Se the . y be @ il III AANN 2 p P. y & . 12 f & �� t e � & � e e a Third Quarter 2024 Earnings | November 8, 2024 Notes and Important Disclosures This Presentation (together with oral statements made in connection herewith, the "Presentation") is for informational purposes only to assist interested parties in evaluating AlTi Global, Inc. (along with its consolidated subsidiaries, "AlTi Global" or the "Company"). | --- | --- ...

Core Insights - AlTi Global, Inc. reported quarterly earnings of $0.38 per share, significantly exceeding the Zacks Consensus Estimate of $0.01 per share, but down from $1.18 per share a year ago, resulting in an earnings surprise of 3,700% [1] - The company posted revenues of $53.34 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 4.06%, compared to $49.24 million in the same quarter last year [2] - AlTi Global's shares have declined approximately 45.3% year-to-date, contrasting with the S&P 500's gain of 25.2% [3] Earnings Outlook - The future performance of AlTi Global's stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [4][6] - The current consensus EPS estimate for the upcoming quarter is $0.10 on revenues of $70.6 million, and for the current fiscal year, it is $0.05 on revenues of $228.8 million [7] Industry Context - The Financial - Miscellaneous Services industry, to which AlTi Global belongs, is currently ranked in the top 35% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Core Viewpoint - AlTi Global, an independent registered investment advisor, manages $72 billion in assets but has seen a 58% decline in share price since going public, despite an analyst projecting a potential upside of over 100% [1][8] Company Overview - AlTi Global operates in two segments: Wealth Management and Strategic Alternatives, with the wealth management segment catering to ultra-high-net-worth clients, averaging $40 million per account [2] - The Strategic Alternatives segment manages $16 billion in assets, focusing on private investments such as hedge fund strategies, private debt, and real estate [2] Financial Performance - In Q2, AlTi reported an adjusted EPS loss of $0.04, beating expectations of a $0.10 loss, but missed revenue expectations by $3 million, totaling $49 million, a 4% decrease year-over-year [3][4] - Wealth management revenues grew by 20%, attributed to strong market performance and acquisitions, while Strategic Alternatives revenue declined by 51% due to a 21% decrease in assets under management [4] Market Trends and Growth Potential - The wealth management industry is expected to grow assets under management at a rate of 7.9% annually through 2028, with RIAs increasing their client base of high-net-worth individuals faster than traditional wirehouses [5][6] - The shift towards independent wealth advisors is gaining traction, providing AlTi with an advantage in attracting top talent [6] Investment Outlook - AlTi's revenue from private alternative investments is expected to benefit from a growing appetite for such assets, which typically outperform public investments [6] - Analyst price targets suggest a potential upside of 121% from current levels, with a focus on continued growth through acquisitions [8][9]

Financial Performance - The company reported a total revenue of $150 million for the quarter, representing a 20% increase year-over-year[10]. - The company reported a net income of $30 million, which is a 25% increase compared to the same quarter last year[10]. - Revenue for the three months ended June 30, 2024, was $49,453,000, compared to $51,285,000 for the same period in 2023, reflecting a decline of approximately 3.2%[38]. - Net loss attributable to AlTi Global, Inc. for the three months ended June 30, 2024, was $(5,994,000), compared to a net income of $42,740,000 for the same period in 2023[38]. - The company reported a net income (loss) per share of $(0.18) for the three months ended June 30, 2024, compared to $0.72 for the same period in 2023[38]. - The company reported a total shareholders' equity of $898,343,000 as of June 30, 2024, reflecting an increase from $782,493,000 at the beginning of the year[44]. - The company reported a total accumulated deficit in retained earnings reached $170,172,000, indicating ongoing challenges in profitability[48]. - For the six months ended June 30, 2024, the net income was $12,786, compared to a net loss of $62,160 for the same period in 2023[54]. Assets and Liabilities - Assets under management (AUM) reached $5 billion, up from $4.2 billion in the previous quarter, indicating a 19% growth[10]. - Total assets increased to $1,322,730,000 as of June 30, 2024, from $1,266,297,000 as of December 31, 2023, representing a growth of approximately 4.5%[36]. - Total liabilities decreased to $399,209,000 as of June 30, 2024, down from $483,804,000 as of December 31, 2023, a reduction of about 17.5%[36]. - Cash and cash equivalents increased significantly to $59,984,000 as of June 30, 2024, from $15,348,000 as of December 31, 2023[36]. - Cash and cash equivalents at the end of the period were $59.984 million, significantly up from $27.105 million as of June 30, 2023[doc id='56']. Strategic Initiatives - The company expects to achieve a revenue target of $200 million for the next quarter, reflecting a projected growth of 33%[10]. - A strategic acquisition of a competitor is anticipated to enhance the company's service offerings and is expected to close by Q3 2024[10]. - The company is expanding its market presence in Europe, aiming to increase its market share by 10% over the next year[10]. - The company has invested $10 million in research and development for new technologies aimed at improving operational efficiency[10]. - The company has commenced a strategic review of certain businesses within the Strategic Alternatives segment, expected to be completed by the end of Q3 2024[71]. Employee and Compensation - Share-based compensation expenses totaled $9,074,000, reflecting the company's commitment to employee incentives[48]. - The company issued 1,815,560 shares to employees on vesting of equity awards, reflecting ongoing employee engagement strategies[48]. - Compensation and benefits include salaries, bonuses, commissions, and payroll taxes, accrued over the related service period[116]. Investment and Acquisitions - The company incurred cash payments of $69.014 million for the acquisition of East End Advisors, LLC, net of cash acquired[doc id='56']. - The total purchase consideration for the AWMS Acquisition was $16.8 million, with an earn-out liability of $1.1 million reported as of June 30, 2024[150]. - The EEA Acquisition had a total purchase consideration of $93.1 million, including an estimated contingent consideration of $23.3 million, with the earn-out liability's fair value reported at $24.0 million as of June 30, 2024[151]. - The company completed the sale of LXi REIT Advisors Limited for approximately $33.1 million, with an additional contingent consideration of up to $5.1 million based on exchange rates[79]. - The company recognized an intangible asset impairment charge of $23.5 million related to the disposal of LRA, recorded in the Consolidated Statement of Operations for the year ended December 31, 2023[80]. Market and User Engagement - New product launches contributed to a 15% increase in user engagement metrics, with active users rising to 1.2 million[10]. - The Wealth Management segment reported $55.9 billion in Assets Under Administration (AUA) as of June 30, 2024, up from $51.0 billion as of December 31, 2023, representing a growth of approximately 17.1%[72]. - The Strategic Alternatives segment had $7.3 billion in AUA as of June 30, 2024, a slight decrease from $7.6 billion as of December 31, 2023[75]. Financial Adjustments and Impairments - The Company recognized goodwill impairment charges of $153.9 million for the Strategic Alternatives segment as of December 31, 2023, with no impairment charges for the Wealth Management segment[139]. - The Company recognized intangible asset impairment charges of $0.7 million for the three months ended June 30, 2024, compared to $52.9 million for the year ended December 31, 2023, reflecting a significant reduction in impairment[136]. - The company experienced an impairment loss on goodwill and intangible assets of $695 for the six months ended June 30, 2024, compared to $29,393 in 2023[54].

Financial Data and Key Metrics Changes - AlTi generated revenues of $49 million in Q2 2024, reflecting a 4% decrease compared to Q2 2023, but on a like-for-like basis, revenues would have increased by 4% year-on-year [20][21] - The company reported a net loss of $9 million in Q2 2024, compared to a net income of $28 million in the same period last year, largely due to a decline in other income [23] - Adjusted EBITDA for Q2 was $5.5 million, with an adjusted EBITDA margin of 11%, down from 13% in the previous quarter [25] Business Line Data and Key Metrics Changes - Wealth management revenues increased by 20% to $41 million in Q2 2024, with assets under management (AUM) growing by 15% to $56 billion [21][9] - The strategic alternative segment generated $9 million in revenue, down from $17 million in Q2 2023, primarily due to lower management fees and reduced transactional fees [22] Market Data and Key Metrics Changes - Assets under management and advisement grew 4% to $72 billion over the trailing 12 months, with a notable 15% growth in the wealth management business [8] - The domestic business saw an 11% increase on an organic basis over the past year, while the international platform secured significant wins across multiple jurisdictions [12] Company Strategy and Development Direction - The company aims to become a leading global independent ultra-high net worth wealth management firm, focusing on strategic acquisitions and optimizing its cost structure [5][7] - Recent investments from Allianz X and Constellation Wealth are expected to enhance AlTi's global footprint and facilitate accretive acquisitions [6][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential in the ultra-high net worth market, particularly in light of the estimated $80 trillion generational wealth transfer over the next 20 years [28] - The company is positioned to capitalize on trends among European and Middle Eastern families seeking holistic wealth management solutions [13][14] Other Important Information - The company completed the sale of its European-based trust and private office services businesses for approximately $20 million, allowing it to focus on core recurring revenue businesses [12] - AlTi's normalized operating expenses decreased by 15% compared to the same period in 2023, reflecting ongoing cost-saving initiatives [16] Q&A Session Summary Question: Can you discuss the EBITDA margin improvement in wealth management? - Management expects margin improvement driven by the integration of East End and Envoi, along with future M&A activity [30][31] Question: Is the decline in alternative AUM due to repositioning in the real estate business? - Yes, the decline is primarily due to repositioning efforts, including the sale of LXi and the impact of deconsolidating certain funds [32][33] Question: How much capital is left to deploy from the Allianz investment? - The company has not yet deployed any of the Allianz capital and has a pipeline for inorganic growth opportunities [36][38] Question: What is the outlook for operating expenses? - Operating expenses have seen significant reductions, but additional costs may arise from M&A activities [40][42] Question: Can you clarify the revenue guidance for wealth management? - Most of the revenue increase was driven by acquisitions, with seasonal outflows expected in Q2 due to tax payments [44][46]

AlTi Global, Inc. (ALTI) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.06. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 100%. A quarter ago, it was expected that this company would post earnings of $0.03 per share when it actually produced earnings of $0.01, delivering a surprise of -66.67%.Over the last four quarters, the company has ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number 001-40103 AlTi Global, Inc. (Exact name of registrant as specified in its charter) Delaware 92- ...

AlTi Global, Inc. (NASDAQ:ALTI) Q1 2024 Earnings Conference Call May 10, 2024 9:00 AM ET Company Participants Lily Arteaga – Head-Investor Relations Michael Tiedemann – Chief Executive Officer Stephen Yarad – Chief Financial Officer Conference Call Participants Wilma Burdis – Raymond James Operator Good morning. My name is Sherry, and I will be your conference operator today. At this time, I would like to welcome everyone to AlTi’s First Quarter 2024 Earnings Conference Call. During the call, your lines wil ...