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 JUNE 30, 2023 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: 001-35826 Artisan Partners Asset Management Inc. (Exact name of registrant as specified in its charter) Delaware 4 ...

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, 2023 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: 001-35826 Artisan Partners Asset Management Inc. (Exact name of registrant as specified in its charter) Delaware ...

Artisan Partners Asset Management Inc. (NYSE:APAM) Q1 2023 Earnings Conference Call May 3, 2023 1:00 PM ET Company Participants Makela Taphorn - IR Eric Colson - CEO C.J. Daley - CFO Conference Call Participants Mike Brown - KBW John Dunn - Evercore ISI Bill Katz - Credit Suisse Operator Hello, and thank you for standing by. My name is Roger and I will be your conference operator today. At this time all participants are in a listen-only mode. After the prepared remarks, management will come back the questio ...

Artisan Partners Asset Management BUSINESS UPDATE AND FIRST QUARTER 2023 EARNINGS PRESENTATION BUSINESS PHILOSOPHY & APPROACH High Value Added Talent Driven Thoughtful Investment Firm Business Model Growth Designed for Investment Active Strategies Active Talent Identification Talent to Thrive Autonomous Franchises Managed by Business Professionals Entrepreneurial Commitment Focus on Long-Term Proven Results Structured to Align Interests Global Demand ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022 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: 001-35826 Artisan Partners Asset Management Inc. (Exact name of registrant as specified in its charter) Delaware 45-0969585 (State or ot ...

Financial Data and Key Metrics Changes - Assets under management (AUM) decreased from $175 billion to $128 billion, a 27% decline [4][17] - Net outflows totaled $9.8 billion for the year, with over $5 billion occurring in the fourth quarter [4][17] - Revenues declined by 19% year-over-year, reflecting the decrease in average AUM [17][19] - Adjusted operating income fell by 37% for the year compared to 2021 [21] - Average AUM for 2022 was down 18% year-over-year [19] Business Line Data and Key Metrics Changes - The Artisan High Income strategy generated average annual returns of 5.1% after fees, outperforming its benchmark by 178 basis points [9] - The Credit team has generated cumulative net flows of $7 billion since inception, averaging approximately $750 million per year [10] - The firm diversified from five long-only equity investment teams managing 12 strategies to 10 investment teams managing 25 strategies [17] Market Data and Key Metrics Changes - Non-U.S. equity strategies outperformed in the fourth quarter, contributing to over $12 billion in investment returns [15] - Approximately 55% of equity AUM is invested in companies domiciled outside the U.S. [14] - The index yield to worst for high-yield credit is currently about 8%, significantly higher than the 4% to 6% range of the past decade [12] Company Strategy and Development Direction - The company is focusing on fixed income and global equities, anticipating increased demand due to rising rates and spreads [6][8] - The firm aims to leverage its investment capabilities to capture growth opportunities in fixed income and credit-oriented strategies [8][12] - The company is optimistic about the current level of market volatility, which may benefit active management strategies [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for growth in fixed income and non-U.S. equities despite a challenging 2022 [6][16] - The firm is focused on executing growth opportunities and filling capacity in 2023 [32] - Management acknowledged the uncertainty in the market but highlighted the importance of client research and due diligence in driving future asset flows [28][30] Other Important Information - The company declared a quarterly dividend of $0.55 per share and a special annual dividend of $0.35 per share [22] - Seed capital investments increased to $125 million, up from $72 million a year ago, indicating a focus on future growth [22] - The firm plans to maintain a flat year-over-year expense structure while managing variable costs based on revenue levels [47] Q&A Session Summary Question: Opportunities in non-U.S. equities and emerging markets - Management noted an increase in due diligence activity and a strong list of meetings for non-U.S. strategies, but emphasized the mixed asset flow trends [27][28] Question: Expense margins and operating leverage - Management highlighted the strength of their model in managing expenses during revenue declines and discussed the focus on growth opportunities in 2023 [31][32] Question: Institutional vs. retail growth opportunities - Management indicated a focus on institutional markets for growth, while also recognizing the potential in retail democratization through partnerships [39][41] Question: EMsights opportunity and asset ramp-up - Management acknowledged the longer sales cycle for institutional assets but expressed confidence in the strong position of the EMsights team [43][45] Question: Future seed capital investments - Management stated that there are no major seed capital requirements planned for 2023, focusing instead on filling existing capacity [50][51]

Artisan Partners Business Model & Philosophy - Artisan Partners' business is built on a consistent philosophy and business model focused on high value-added active strategies, talent-driven autonomous franchises, and thoughtful long-term growth [2] - The company's financial model emphasizes sustainable long-term growth, fee discipline, high variable costs, a conservative balance sheet, and aligned interests [14] Artisan Partners Historical Financial Performance - Since 2012, Artisan Partners has experienced a compounded annual growth rate of 8% in average AUM, 7% in revenue, and 5% in adjusted operating income [16] - For the year 2022, Artisan Partners' revenue was $993.3 million, a decrease of 19% compared to $1227.2 million in 2021 [30] - The adjusted operating income for 2022 was $340.3 million, a decrease of 37% compared to $540.8 million in 2021 [30] - The adjusted operating margin for 2022 was 34.3%, a decrease of 980 bps compared to 44.1% in 2021 [30] - In Q4 2022, revenues decreased by 4% to $226 million compared to Q3 2022's $234.3 million [29] - Adjusted operating expenses in Q4 2022 decreased by 1% to $157.2 million compared to Q3 2022's $155.4 million [29] Assets Under Management (AUM) - Assets Under Management (AUM) decreased by 27% from $174.8 billion in 2021 to $127.9 billion in 2022 [24] - Average AUM decreased by 18% from $171.8 billion in 2021 to $141.5 billion in 2022 [24] - Net client cash flows for the year 2022 were $(9.8) billion [24] Credit Team Performance - Since inception, the High Income strategy has an average annual value added of 178 bps [4] - Since inception, the Credit Opportunities strategy has an average annual value added of 631 bps [4] - Since its launch on January 1, 2022, the Floating Rate strategy has a value added of -42 bps [4]

Artisan Partners Asset Management Inc. (NYSE:APAM) Q3 2022 Earnings Conference Call November 2, 2022 1:00 PM ET Company Participants Makela Taphorn - IR Eric Colson - CEO Charles Daley - CFO Conference Call Participants Alex Blostein - Goldman Sachs Kenneth Lee - RBC Capital Markets Operator Hello, and thank you for standing by. My name is Rocco, and I will be your conference operator today. At this time all participants are in a listen-only mode. [Operator Instructions]. As a reminder, this conference call ...