Janus Henderson Group plc (JHG) Earnings Call Transcript & Summary

Hello, everyone, and welcome to the Janus Henderson 2025 Annual General Meeting. I am John Cassaday, Chair of Janus Henderson Group plc. And joining me today on the call and in the room are the members of your Board of Directors. A quorum is present, so we can open the Annual General Meeting. Certain matters discussed at today's meeting may constitute forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements due to a number of factors, including, but not limited to, those described in the forward-looking statements and Risk Factors section of the company's most recent Form 10-K, Form 10-Q and other filings with the SEC. Janus Henderson assumes no obligation to update any forward-looking statements made during the meeting. Before we get to the formal items of this meeting, we would like to touch on our company performance over the past year. We demonstrated meaningful progress on numerous fronts in 2024. We achieved solid investment performance, a 13% year-over-year increase in assets under management, a 31% increase in adjusted operating income, a 34% increase in adjusted earnings per share and positive net inflows of $2.4 billion in an industry with well-documented active flow headwinds. We generated healthy cash flows from operations of nearly $700 million, enabling us to both return approximately $460 million to shareholders through dividends and share repurchases and reinvest in our business. Our teams work together to execute on our strategy to protect and grow our core businesses, amplify strengths not fully leveraged and diversify where clients give us the right to win, which is delivering growth across channels and regions. Acquisitions of NBK Capital Partners, Victory Park Capital, Tabula Investment Management as well as the recently announced multifaceted strategic partnership with Guardian Life Insurance underscore our commitment to continue to deliver for our clients, their clients and our shareholders. Year-to-date, in 2025, global markets have been volatile, driven by a combination of persistent macroeconomic uncertainty shifting monetary policy, geopolitical tensions and evolving investor sentiment. We remain confident in the ability of our executive team and our Board to meet these challenges. We are confident that continued superb investment discipline and collaborative, innovative thinking will deliver superior outcomes for our clients and all our stakeholders. In conclusion, our business fundamentals are solid. Our financial position is strong. We continue to return capital to shareholders, and we are making progress towards our long-term strategic objectives. There is still work to be done, but our focus remains the same. We will control what we can control and continue to position Janus Henderson for growth. On behalf of the Board, we extend our sincere appreciation to our employees for their commitment and diligence, and we are grateful to our shareholders and clients for their trust and support. Now we'll move to the formal items of business. We remind you of the votes needed to pass the proposals as required by our articles. Proposals 1, 2 and 4 as ordinary proposals require votes in favor of more than 50% of the votes cast. Proposal 3, as a special proposal requires votes in favor of at least 2/3. I will proceed and now begin with the first proposal. Proposal 1.1 approves the election of Mr. Baldwin as a director. Proposal 1.2 approves the election of Mr. Cassaday. Proposal 1.3 approves the election of Ms. Desai. Proposal 1.4 approves the election of Mr. Dibadj. Proposal 1.5 approves the election of Mr. Dolan. 1.6 approves the election of Mr. Flood Jr. Proposal 1.7 approves the election of Mr. Frank. Proposal 1.8 approves the election of Ms. Quirk. Proposal 1.9 approves the election of Ms. Seidman, Proposal 1.10 approves the election of Ms. Seymour-Jackson, and proposal 1-11 approves the election of Ms. Sheehan. Proposal 2 is an advisory proposal to approve the company's executive compensation as disclosed in the proxy statement. This is called a Say-on-Pay vote. Proposal 3 authorizes the company to purchase its own shares to a limited extent. And Proposal 4 approves the reappointment of PwC as auditors of the company and renews the Audit Committee's authority to agree to their remuneration. This completes the summary of the proposals. We will now conduct the polls for the proposals included in the company's notice of Annual General Meeting and proxy statement. I appoint Patrick Hayes of Computershare as the Inspector of Election for the conduct of the polls. And if there are shareholders present in Denver who have not submitted their voting cards yet, please do so now. [Voting]

I now direct the inspector of election to count the votes and to report the results to me. The Inspector of Election has provided me with his preliminary report on the voting. All proposals have received sufficient votes to pass and are therefore adopted. Final voting results will be announced to the NYCE (sic) [ NYSE ], will be disclosed in a Form 8-K to be filed with the SEC and will also be published on our website. This concludes the formal business of the AGM, and we declare the meeting closed. We thank you for being loyal shareholders of Janus Henderson, and we look forward to welcome you to the AGM next year.