Refer to pages 15-19 of this presentation for reconciliations of U.S. GAAP to as adjusted results. Cohen & Steers: Q4 2025 and Full Year 2025 Earnings Presentation Summary of fourth quarter and full year 2025 results Fourth quarter 2025 Full year 2025 Assets under management • Net inflows of $1.5 billion in FY 2025 versus net outflows of $171 million in FY 2024 2 Flows Financial results, as adjusted • December 31, 2025 AUM was $90.5 billion versus $85.8 billion at December 31, 2024 • Average AUM was $88.6 b ...

Core Insights - T. Rowe Price Group, Inc. (NASDAQ:TROW) is recognized among the Best Stocks for a Dividend Achievers List [1] Group 1: Price Target and Earnings Estimates - Morgan Stanley raised its price target on T. Rowe Price to $128 from $126 while maintaining an Equal Weight rating, citing weaker-than-expected client flows in Q4 [2] - The firm lowered its Q4 flow estimate by 30 basis points and reduced its Q4 earnings estimates by approximately 5% across the asset managers it covers, indicating near-term pressures rather than a long-term shift [2] Group 2: Strategic Alliances and Product Launches - Goldman Sachs Asset Management and T. Rowe Price announced the launch of co-branded model portfolios, marking the first products since their strategic alliance in September [3] - Four model portfolios are available on the GeoWealth platform, designed for registered investment advisors, with a fifth portfolio expected to launch in the first half of 2026, aimed at high-net-worth investors [4] Group 3: Company Overview - T. Rowe Price is a global investment management firm providing mutual funds, subadvisory services, separate accounts, and retirement solutions to a diverse client base including individuals, institutions, and financial intermediaries [5]