BrightSphere Investment Group, Inc. (NYSE:BSIG) Q3 2022 Results Conference Call November 3, 2022 11:00 AM ET Company Participants Elie Sugarman - Head of Strategy and Corporate Development Suren Rana - President and Chief Executive Officer Conference Call Participants Kenneth Lee - RBC Capital Markets Michael Cyprys - Morgan Stanley John Dunn - Evercore ISI Operator Ladies and gentlemen, thank you for standing by. Welcome to the BrightSphere Investment Group earnings conference call and webcast for the thir ...

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 September 30, 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: 001-38979 BRIGHTSPHERE Investment Group Inc. (Exact name of registrant as specified in its charter) Delaware ...

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, 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: 001-38979 BRIGHTSPHERE Investment Group Inc. (Exact name of registrant as specified in its charter) Delaware 47-11 ...

BrightSphere Investment Group Inc. (NYSE:BSIG) Q2 2022 Earnings Conference Call July 28, 2022 11:00 AM ET Company Participants Elie Sugarman – Head of Strategy and Corporate Development Suren Rana – President and Chief Executive Officer Conference Call Participants Kenneth Lee – RBC Capital Markets Operator Ladies and gentlemen, thank you for standing by. Welcome to the BrightSphere Investment Group Earnings Conference Call and Webcast for the Second Quarter 2022. During the call, all participants will be i ...

Contact: Elie Sugarman ir@bsig.com (617) 369-7300 BrightSphere Reports Financial and Operating Results for the Second Quarter Ended June 30, 2022 • U.S. GAAP earnings per share of $0.67 for the quarter, compared to $6.42 for Q2'21 due to the gain on sale of Landmark Partners ("Landmark") in Q2'21 • ENI earnings per share of $0.41 for the quarter, compared to $0.40 for Q2'21; Q2'21 EPS included $0.07 per share contribution from since divested Affiliates Campbell Global LLC ("Campbell Global") and Investment ...

Contact: ir@bsig.com (617) 369-7300 BrightSphere Reports Financial and Operating Results for the First Quarter Ended March 31, 2022 • U.S. GAAP earnings per share of $0.53 for the quarter, compared to $0.33 for Q1'21 • ENI earnings per share of $0.52 for the quarter, compared to $0.27 for Q1'21 • Net client cash flows ("NCCF") for the quarter of $(2.2) billion • AUM of $110.2 billion at March 31, 2022 compared to $117.2 billion at December 31, 2021 • 96%, 86%, 88% and 90% of strategies by revenue beat their ...

Financial Data and Key Metrics Changes - The company reported ENI per share of $0.52 for Q1 2022, an increase from $0.27 in Q1 2021, primarily driven by share repurchases and stronger performance fees [4] - Net client cash flows in Q1 2022 were negative at $2.2 billion, with an annualized revenue impact of negative $1.1 million, approximately 0.3% of Acadian's management fee revenue for 2021 [5][6] - The company bought back about 9% of its outstanding shares for $100 million in Q1 2022 and redeemed $125 million of senior notes, leaving $275 million of long-term debt maturing in 2026 [7] Business Line Data and Key Metrics Changes - Acadian generated $48.1 million of adjusted EBITDA in Q1 2022, up from $45.5 million in Q1 2021, driven by stronger performance fees of $10 million compared to $4.6 million in the prior year [8] - The EBITDA for Q4 2021 was significantly higher at $87.6 million due to seasonality, with $56 million of performance fees earned in that quarter [8] Market Data and Key Metrics Changes - The company noted that 96%, 86%, 88%, and 90% of its strategies by revenue outperformed their benchmarks over the prior 1, 3, 5, and 10-year periods respectively, indicating strong investment performance [5] Company Strategy and Development Direction - The company is focused on leveraging its unique quant platform to explore new areas, including ESG, equity alternatives, and the China market, which are expected to drive long-term growth [10][14] - There is a growing demand for ESG-focused mandates, and the company is well-positioned to benefit from this trend by customizing portfolios to match clients' ESG values [12][13] - The company is also exploring opportunities in retail distribution channels and is open to partnerships or acquisitions to enhance its presence in this market [32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future flow trajectory, citing strong investment performance and a healthy pipeline across various strategies [6] - The company is focused on growth and is investing in new initiatives while maintaining discipline in expenses [20] - Management indicated that while there were idiosyncratic factors affecting net flows in Q1 2022, they expect improved flow situations in the future due to strong performance [18] Other Important Information - The company had a cash balance of $89 million as of March 31, 2022, and expects to continue deploying capital for organic growth and share buybacks [7] - The ending share count for the quarter was approximately 41.4 million basic shares and about 42 million on a diluted basis [29] Q&A Session Summary Question: Contributions from specific strategies to net flows - Management noted that there were no particular patterns in net flows for Q1 2022, describing it as idiosyncratic, with some larger outflows affecting the overall number [17][18] Question: Updates on cost reduction efforts - Management stated that the focus is on growth, with ongoing investments in new initiatives while being disciplined in expenses, particularly in central operations [19][20] Question: Cash flow allocation for seeding strategies and buybacks - Management indicated that cash flow will be allocated between seeding new strategies and share repurchases, but specific budgets are not set [23][24] Question: Buyback program details - The company conducted open market repurchases in Q1 and has the option for 10b5-1 Safe harbor for future repurchases [27] Question: Restrictions on share repurchases - Management mentioned that closed windows during earnings periods and potential partnership discussions could restrict repurchase plans, but no other significant restrictions exist [28] Question: Strategic actions and M&A considerations - Management is focused on leveraging its platform for organic growth and is open to smaller strategic acquisitions that align with its capabilities [30][31]

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, 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: 001-38979 BRIGHTSPHERE Investment Group Inc. (Exact name of registrant as specified in its charter) Delaware 47-1 ...

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, 2021 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 001-38979 | --- | --- | --- | --- | --- | |------------------------------------|------------|-------------------------------------------- ...

Financial Data and Key Metrics Changes - The company reported ENI per share of $0.53 for Q4 2021, an increase from $0.28 in Q4 2020 and $0.28 in Q3 2021, primarily driven by strong performance [5] - Adjusted EBITDA for Acadian was $87.6 million in Q4 2021, compared to $40.4 million in Q4 2020 and $49.1 million in Q3 2021, reflecting strong performance fees [6] Business Line Data and Key Metrics Changes - Acadian recorded net outflows of $0.8 billion in Q4 2021, an improvement from net outflows of $1.3 billion in Q4 2020, with breakeven revenue flows in Q4 2021 compared to an annualized revenue impact of -$6.1 million in Q4 2020 [6] Market Data and Key Metrics Changes - The company noted a growing demand for uncorrelated strategies and customized solutions, particularly in ESG and diversification, which are well-suited for data-driven approaches [9][12] Company Strategy and Development Direction - The company aims to continue investing in its quant capabilities to remain at the forefront of the industry, focusing on secular growth areas such as ESG, absolute return alternatives, and new markets like China [12] - The company is also developing systematic macro strategies and equity alternative strategies to meet the increasing demand for yield with downside protection [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term growth prospects following the divestiture of affiliates, emphasizing the company's strong cash flow generation and commitment to share repurchases [17] - The management indicated that the current market environment is favorable for performance, as it rewards different investment factors rather than just growth [29] Other Important Information - The company has a cash balance of approximately $125 million after paying down retail notes and plans to use this for share repurchases and organic growth initiatives [15] - The company is in the process of integrating its public company functions with its operating business to streamline operations and reduce corporate overhead costs [20] Q&A Session Summary Question: Capital allocation for organic growth and share repurchases - Management indicated that a significant portion of cash generation will be directed towards share repurchases, with incremental needs primarily for seeding new strategies [14][15] Question: Corporate overhead expenses and potential integration - Management confirmed plans to simplify the business structure and integrate public company functions with the operating business, aiming to reduce corporate overhead costs [20][21] Question: Performance fees and their drivers - Management noted that strong investment performance led to significant performance fees in 2021, but they expect lower performance fees in 2022 due to the nature of performance fee recognition [23][30] Question: Demand for quant strategies in 2022 - Management expressed optimism about the performance of quant strategies in the current market environment, which is seen as more discerning [29] Question: Share buyback potential and cash management - Management stated that they typically maintain over $20 million in cash for operations, with plans to allocate around $120 million for share buybacks in the near term [38] Question: Corporate overhead cost reduction timeline - Management confirmed that the process of reducing corporate overhead costs is underway, with a target of reaching around $10 million in the future [39]