UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

	

 
FORM 8-K

	

 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): November 4, 2015

	

OM Asset Management plc
(Exact name of registrant as specified in its charter)

	

 

			
England and Wales	001-36683	98-1179929	
(State or other jurisdiction
of incorporation)	(Commission File Number)	(IRS Employer
Identification Number)	
 
5th Floor, Millennium Bridge House
2 Lambeth Hill
London EC4V 4GG, United Kingdom
+44-20-7002-7000
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)

	

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o                   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o                   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o                   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o                   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

	

 

		
ITEM 2.02	Results of Operations and Financial Condition.	
          
On November 4, 2015 , OM Asset Management plc (the “Company”) issued a press release and presentation materials setting forth its financial and operating results for the quarter ended September 30, 2015 . Copies of the press release and the presentation materials are furnished as Exhibit 99.1 and Exhibit 99.2, respectively, hereto.

	
		
ITEM 5.02	Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.	

On October 30, 2015, Julian Roberts stepped down as Chairman of the Company’s Board of Directors, following his retirement as Group Chief Executive of the Company's Parent.  James Ritchie, one of the Company’s current Directors, who has chaired the Board’s Audit Committee and served on its Nominating and Corporate Governance Committee, will serve as its new Chairman. Mr. Ritchie has served on the Board of OMAM and its predecessor company since 2007. Mr. Ritchie has served as a member of the Board of Directors of a number of companies in the insurance and financial services industries. In addition, Mr. Ritchie has served in such roles as Non-Executive Chairman of the Board of Directors, Chairman of the Audit Committee and Member of the Compensation Committee for certain of such companies.

	
		
ITEM 9.01	Financial Statements and Exhibits.	
 
(d)           Exhibits.

The information in Item 2.02 and the information filed as Exhibit 99.1 and Exhibit 99.2 to this Form 8-K is being furnished in accordance with Item 2.02 and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended. Such information shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, except as may be expressly set forth in a specific filing.

	
			
Exhibit No.	 	Description	
 	 	 	
99.1	 	Earnings press release issued by the Company on November 4, 2015	
99.2	 	Third quarter 2015 earnings presentation of OM Asset Management plc	

SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this form to be signed on its behalf by the undersigned, thereto duly authorized. 

	
					
Date:	November 4, 2015	OM ASSET MANAGEMENT PLC	 	

 	 	By:	/s/ STEPHEN H. BELGRAD	 	
 	 	Name: 	Stephen H. Belgrad 	 	
 	 	Title: 	Executive Vice President and Chief Financial Officer 	 	

EXHIBIT INDEX

	
			
Exhibit No.	 	Description	
 	 	 	
99.1	 	Earnings press release issued by the Company on November 4, 2015	
99.2	 	Third quarter 2015 earnings presentation of OM Asset Management plc	

Exhibit 99.1

	
					
Contact:
Brett Perryman
ir@omam.com
(617) 369-7300	 	 	  	
OMAM Reports Financial and Operating Results for the Third Quarter Ended September 30, 2015

•	Economic net income of $37.9 million ( $0.31 per share) for the quarter, up 0.8% compared to the 2014 period	
		
•	Year to date economic net income of $113.2 million ( $0.94 per share) excluding extraordinary performance fee, and $124.6 million ( $1.03 per share) including extraordinary performance fee, up 8.5% and 19.5% respectively, compared to the 2014 period	
		
•	U.S. GAAP earnings of $35.0 million ( $0.29 per share) for the quarter and $118.6 million ( $0.98 per share) for the year to date	
		
•	AUM of $208.7 billion at September 30, 2015 , a decrease of (2.4)% from September 30, 2014	
		
•	Net client cash flows ("NCCF") for the quarter of $(2.5) billion yielding a positive annualized revenue impact of $0.7 million	
 
London - November 4, 2015 - OM Asset Management plc (NYSE: OMAM) reports its results for the third quarter ended September 30, 2015 . 
“Our business performed well in a difficult environment during the third quarter,” said Peter L. Bain, OMAM’s President and Chief Executive Officer. “Our Affiliates are among the industry’s leaders in their respective investment disciplines, with long-term track records of excellent investment performance generated by adherence to their investment disciplines over market cycles. They continue to produce strong results, with assets representing 68% , 84% , and 93% of revenue outperforming benchmarks over the one-, three-, and five-year periods as of September 30, 2015 . We also continue to benefit from growth in higher-fee, in-demand products such as alternative and global/non-U.S. strategies as we generated positive annualized revenue of $0.7 million from net client cash flows during the quarter notwithstanding net AUM flows of $(2.5) billion . Our year-to-date annualized revenue of $25.5 million from net flows represents 3.5% of beginning of year run-rate management fee revenue."
Mr. Bain continued, “We continue to make progress in executing our growth strategy. We are working with a number of Affiliates to undertake business expansion and product development initiatives. In a volatile market environment, our Global Distribution team remains focused on strengthening its relationships with consultants and institutional investors across the globe and working with Affiliates to expand the product offerings available through our platform. In addition, we remain actively engaged in cultivating relationships with attractive, at-scale asset management boutiques seeking to enhance and expand their businesses for the long-term in partnership with us.
“With the passage of our first anniversary as a public company and the subsequent filing of a shelf registration statement relating to $2.0 billion of debt securities and ordinary shares, we are well positioned to access the capital markets over time to support the growth of our business,” Mr. Bain added. “Finally, we would like to express our gratitude to Julian Roberts, who recently retired as CEO of Old Mutual plc and as Chairman of OMAM’s Board of Directors. His personal warmth, insight and leadership during his tenure at Old Mutual and on our Board have been vital to our growth and have positioned OMAM for success in the years ahead. I am pleased that our long-term director, Jim Ritchie, has agreed to serve as our new Chairman. Jim has been a member of our Board since 2007, and has chaired the Board’s Audit Committee and served on its Nominating and Corporate Governance Committee. Jim brings deep experience in financial services and a strong commitment to the effective governance and growth of our business and we look forward to his future contributions in his new role.”

																						
Table 1: Key Performance Metrics (unaudited)	
($ in millions, unless otherwise noted)	Three Months Ended September 30,	 	Nine Months Ended September 30,	
Economic Net Income Basis	2015	 	2014	 	Increase
(Decrease)	 	2015	 	2014	 	Increase
(Decrease)	
(Non-GAAP measure used by management)	 	 	 	 	 	 	 	 	 	 	 	
ENI revenue**	$	165.9		 	$	159.0		 	4.3	 %	 	$	497.0		 	$	451.0		 	10.2	 %	
Pre-tax economic net income**	51.0		 	49.5		 	3.0	 %	 	154.2		 	140.8		 	9.5	 %	
Economic net income, excluding extraordinary performance fee**	37.9		 	37.6		 	0.8	 %	 	113.2		 	104.3		 	8.5	 %	
ENI diluted EPS, excluding extraordinary performance fee, $ + **	$	0.31		 	$	0.31		 	—	 %	 	$	0.94		 	$	0.87		 	8.0	 %	
Adjusted EBITDA, excluding extraordinary performance fee**	53.3		 	51.1		 	4.3	 %	 	161.2		 	145.1		 	11.1	 %	
ENI operating margin before Affiliate key employee distributions**	37	%	 	38	 %	 	(146) bps		 	37	%	 	38	 %	 	(50) bps		
ENI operating margin after Affiliate key employee distributions**	31	%	 	31	 %	 	(9) bps		 	31	%	 	31	 %	 	23 bps		
Economic net income (including extraordinary performance fee)	37.9		 	37.6		 	0.8	 %	 	124.6		 	104.3		 	19.5	 %	
ENI diluted EPS (including extraordinary performance fee), $ +	$	0.31		 	$	0.31		 	—	 %	 	$	1.03		 	$	0.87		 	18.4	 %	
 	 	 	 	 	 	 	 	 	 	 	 	
U.S. GAAP Basis	 	 	 	 	 	 	 		 	 		 	 		
Revenue***	$	161.8		 	$	260.0		 	(37.8	)%	 	$	535.9		 	$	789.8		 	(32.1	)%	
Net income (loss) attributable to controlling interests	35.0		 	(1.7	)	 	n/m		 	118.6		 	17.4		 	581.6	 %	
U.S. GAAP operating margin***	27	%	 	(7	)%	 	n/m		 	28	%	 	(7	)%	 	n/m		
Diluted shares outstanding (in millions) +	120.5		 	120.0		 	 	 	120.5		 	120.0		 	 		
Diluted earnings per share $ +	$	0.29		 	$	(0.01	)	 	n/m		 	$	0.98		 	$	0.15		 	553.3	 %	
 	 	 	 	 	 	 	 	 	 	 	 	
Other Operational Information	 	 	 	 	 	 	 		 	 		 	 		
Assets under management at period end ($ in billions)	$	208.7		 	$	213.8		 	(2.4	)%	 	$	208.7		 	$	213.8		 	(2.4	)%	
Net client cash flows ($ in billions)	(2.5	)	 	3.1		 	n/m		 	$	(1.9	)	 	$	5.7		 	n/m		
Annualized revenue impact of net flows ($ in millions)	0.7		 	19.1		 	(96.3	)%	 	$	25.5		 	$	34.5		 	(26.1	)%	
+  Reflects proforma shares outstanding in prior periods.	
** Excludes impact of extraordinary performance fee.	
*** Amounts as of September 30, 2015 reflect the adoption of ASU 2015-02 resulting in the de-consolidation of all Funds consolidated as of December 31, 2014. See "Balance Sheet and Capital Management."	
Please see "Definitions and Additional Notes."  Please see Table 12 for a reconciliation of U.S. GAAP net income attributable to controlling interests to economic net income.	

1

Assets Under Management and Flows
 
At September 30, 2015 , OMAM’s total assets under management (“AUM”) were $208.7 billion , down $(17.9) billion or (7.9)% compared to $226.6 billion at June 30, 2015 , and down $(5.1) billion or (2.4)% compared to $213.8 billion at September 30, 2014 . The decrease in AUM during the three months ended September 30, 2015 reflects net market depreciation of $(15.4) billion and net outflows of $(2.5) billion . 
 
For the three months ended September 30, 2015 , OMAM’s net flows were $(2.5) billion compared to $0.8 billion for the three months ended June 30, 2015 and $3.1 billion for the three months ended September 30, 2014 .  Hard asset disposals of $(0.9) billion , $(0.2) billion , and $(0.5) billion are reflected in the net flows for the three months ended September 30, 2015 , June 30, 2015 and September 30, 2014 , respectively. Outflows include the termination of a single $1.9 billion U.S. equity account by a non-U.S. institutional client. Likewise, the U.S. equity sub-advisory channel has continued to see higher withdrawals. For the three months ended September 30, 2015 , the annualized revenue impact of the net flows was positive $0.7 million , as gross inflows of $6.2 billion during the three-month period were into higher fee asset classes yielding approximately 46 bps , versus gross outflows and hard asset disposals in the same period of $(8.7) billion out of asset classes yielding approximately 32 bps .  This is compared to the annualized revenue impact of net flows of $13.5 million for the three months ended June 30, 2015 and $19.1 million for the three months ended September 30, 2014 (see "Definitions and Additional Notes").

For the nine months ended September 30, 2015 , OMAM’s net flows were $(1.9) billion compared to $5.7 billion for the nine months ended September 30, 2014 . Hard asset disposals of $(1.4) billion are reflected in the net flows for the nine month period for both 2015 and 2014. For the nine months ended September 30, 2015 , the annualized revenue impact of the net flows were $25.5 million compared to $34.5 million for the nine months ended September 30, 2014 . Gross inflows of $20.7 billion in the nine months ended September 30, 2015 yielded an average of 46 bps compared to 43 bps in the year-ago period while gross outflows and hard asset disposals of $(22.6) billion yielded only 31 bps in the nine months ended September 30, 2015 compared to 38 bps in the year-ago period.

	
																				
Table 2: Assets Under Management Rollforward Summary   	
 	 	 	 	 	
($ in billions, unless otherwise noted)	Three Months Ended	 	Nine Months Ended	
 	September 30, 2015	 	June 30, 2015	 	September 30, 2014	 	September 30, 2015	 	September 30, 2014	
Beginning AUM	$	226.6		 	$	224.0		 	$	214.9		 	$	220.8		 	$	198.8		
Gross inflows	6.2		 	7.5		 	8.9		 	20.7		 	22.8		
Gross outflows	(7.8	)	 	(6.5	)	 	(5.3	)	 	(21.2	)	 	(15.7	)	
Hard asset disposals	(0.9	)	 	(0.2	)	 	(0.5	)	 	(1.4	)	 	(1.4	)	
Net flows	(2.5	)	 	0.8		 	3.1		 	(1.9	)	 	5.7		
Market appreciation (depreciation)	(15.4	)	 	1.1		 	(4.2	)	 	(10.9	)	 	9.7		
Other*	—		 	0.7		 	—		 	0.7		 	(0.4	)	
Ending AUM	$	208.7		 	$	226.6		 	$	213.8		 	$	208.7		 	$	213.8		
 	 	 	 	 	 	 	 	 	 	
Basis points: inflows	45.6		 	46.1		 	46.3		 	46.1		 	43.3		
Basis points: outflows	31.6		 	31.4		 	38.4		 	30.9		 	37.6		
Annualized revenue impact of net flows
     ($ in millions)	$	0.7		 	$	13.5		 	$	19.1		 	$	25.5		 	$	34.5		
Derived average weighted NCCF ($ in billions)	0.2		 	3.9		 	5.8		 	7.4		 	10.4		
*"Other" in 2015 primarily relates to an Affiliate's purchase of a joint venture.	
Please see "Definitions and Additional Notes"	 	 	 	 	

2

Exhibit 99.1

Balance Sheet and Capital Management
 
Selected Balance Sheet information as of September 30, 2015 and December 31, 2014 is provided in Table 3 below. The December 31, 2014 balance sheet is presented both on a U.S. GAAP basis, which includes Consolidated Funds, and on a non-GAAP basis which excludes those elements of Consolidated Funds which are not economically attributable to OMAM shareholders. As discussed below, in the first quarter of 2015, the Company adopted a new accounting standard which resulted in the de-consolidation of all Funds previously consolidated as of December 31, 2014. Therefore, the U.S. GAAP balance sheet as of September 30, 2015 is most comparable to the non-GAAP balance sheet as of December 31, 2014.
 
During the three months ended September 30, 2015 the Company made payments of $75.0 million against third party borrowings. In the nine months ended September 30, 2015 , the Company made payments of $107.0 million and $37.0 million against third party borrowings and notes payable to related parties, respectively. At September 30, 2015 , the Company had third party borrowings of $70.0 million and shareholders’ equity of $124.2 million . The Company’s ratio of third party borrowings to trailing twelve months Adjusted EBITDA, excluding the extraordinary performance fee, was 0.3x , well below the maximum 3.0x leverage covenant under OMAM’s revolving credit facility. Of the Company's cash and cash equivalents of $126.8 million at September 30, 2015 , $105.3 million was held at Affiliates and $21.5 million was available at the Company.
 
As of September 30, 2015 , the Company had access to approximately $143 million of seed capital, provided by Old Mutual plc ("the Parent"), to invest in products managed by OMAM’s Affiliates. This seed capital is not reflected on the balance sheet of OMAM, as it is directly owned by a subsidiary of the Parent. In addition, at September 30, 2015 , the Company had $35.3 million of co-investments in funds managed by its Affiliates on its balance sheet, with an off-setting liability to reflect those investments where economic ownership is retained by the Parent.

In February 2015, the FASB issued Accounting Standard Update 2015-02 ("ASU 2015-02"),  Consolidation: Amendments to the Consolidation Analysis . The Company elected to early adopt ASU 2015-02 as of January 1, 2015, which has resulted in the de-consolidation of all previously consolidated funds as well as the removal of non-controlling interests on the Company’s balance sheet dated September 30, 2015 and statement of operations for the three and nine months ended September 30, 2015 . The Company elected to implement ASU 2015-02 using the modified retrospective method, which resulted in an effective date of adoption of January 1, 2015 and did not require the restatement of prior period results.

												
Table 3: Selected Balance Sheet Information	
 	 	 	 	 	 	
($ in millions)	September 30, 2015	 	December 31, 2014	
 	(U.S. GAAP)	 	Excluding Consolidated Funds
(Non-GAAP)	 	Including Consolidated Funds
(U.S. GAAP)	
Cash and cash equivalents	$	126.8		 	$	175.6		 	$	175.6		
Assets of Consolidated Funds	—		 	—		 	6,783.7		
Total assets	911.9		 	993.2		 	7,772.9		
 	 	 	 	 	 	
Notes payable to related parties	—		 	37.0		 	37.0		
Third party borrowings	70.0		 	177.0		 	177.0		
Due to related parties	239.9		 	289.9		 	289.9		
Liabilities of Consolidated Funds	—		 	—		 	4,258.8		
Total liabilities	787.7		 	956.7		 	5,215.5		
 	 	 	 	 	 	
Total equity	124.2		 	36.5		 	2,557.4		
 	 	 	 	 	 	
Third party borrowings / trailing
twelve months Adjusted EBITDA, excluding extraordinary performance fee	0.3	x	 	0.8x	 	0.8x	
Please see "Definitions and Additional Notes"	

3

Exhibit 99.1

Financial Results: Non-GAAP Economic Net Income
 
For each of the three months ended September 30, 2015 and 2014, diluted economic net income per share was $0.31 , on economic net income of $37.9 million and $37.6 million , respectively, an increase of $0.3 million , or 0.8% .  See Table 4 for a summary of economic net income and Table 12 for a reconciliation of U.S. GAAP net income attributable to controlling interests to economic net income.
 
For the three months ended September 30, 2015 , compared to the three months ended September 30, 2014 , ENI Revenue increased $6.9 million or 4.3% , from $159.0 million to $165.9 million , driven primarily by a 4.0% increase in management fees from $152.3 million to $158.4 million . Average assets under management in those respective periods, excluding equity accounted Affiliates, was unchanged at $188.5 billion , while the bps yield on these assets rose from 32.1 bps to 33.3 bps primarily due to an increase in average assets in higher fee rate global/non-U.S. and alternative products combined with a shift into higher fee rate products for U.S. equity assets. Core operating expenses (before sales-based compensation and public company costs) increased 6.6% quarter-over-quarter. Including sales-based compensation and public company costs, total operating expenses grew 10.1% to $60.2 million , and total operating expenses as a percentage of management fee revenue increased to 38.0% from 35.9% for the three months ended September 30, 2015 and 2014, respectively. Total variable compensation grew 2.7% quarter-over-quarter to $44.9 million , and the ratio of variable compensation to earnings before variable compensation grew to 42.5% from 41.9% . The higher growth rate of operating expenses relative to revenue growth resulted in a decrease in OMAM’s ENI operating margin before Affiliate key employee distributions to 36.6% from 38.1% . For the three months ended September 30, 2015 , expenses related to being a public company (excluding interest expense) totaled $2.7 million ( $1.8 million of operating expenses; $0.9 million of variable compensation) and negatively impacted ENI operating margin by 1.6% . Affiliate key employee distributions decreased (16.2)% quarter-over-quarter to $9.3 million , due to the repurchase of equity from an Affiliate in the fourth quarter of 2014. The ratio of Affiliate key employee distributions over earnings before Affiliate key employee distributions fell to 15.3% from 18.3% primarily due to the aforementioned repurchase of equity, as well as the allocation of performance fee revenue.

For the three months ended September 30, 2015 , Adjusted EBITDA was $53.3 million , up 4.3% compared to $51.1 million for the same period of 2014 . See Table 13 for a reconciliation of economic net income to Adjusted EBITDA.
 
For the nine months ended September 30, 2015 and 2014, diluted economic net income per share before the extraordinary performance fee was $0.94 and $0.87 , respectively, an increase of 8.0% on economic net income of $113.2 million and $104.3 million , respectively, an increase of $8.9 million , or 8.5% .  For the nine months ended September 30, 2015 and 2014, diluted economic net income per share after the extraordinary performance fee was $1.03 and $0.87 , respectively, an increase of 18.4% on economic net income of $124.6 million and $104.3 million , respectively, an increase of $20.3 million , or 19.5% .  In the second quarter of 2015, the Company recorded an extraordinary performance fee of $11.4 million ( $0.09 per share), net of associated expenses and taxes. Unless explicitly noted, the revenue, expense and key metrics discussed below exclude the impact of the extraordinary performance fee. For additional information, refer to the Company's Quarterly Report on Form 10-Q for the period ending June 30, 2015 for further discussion on the extraordinary performance fee. See Table 4 for a summary of economic net income and Table 12 for a reconciliation of U.S. GAAP net income attributable to controlling interests to economic net income.
 
For the nine months ended September 30, 2015 , compared to the nine months ended September 30, 2014 , ENI Revenue increased $46.0 million or 10.2% , from $451.0 million to $497.0 million , driven primarily by a 9.7% increase in management fees from $437.9 million to $480.2 million . Average assets under management in those respective periods, excluding equity accounted Affiliates, increased 6.5% , while the bps yield on these assets rose to 33.4 bps from 32.4 bps, primarily due to inflows in 2015 coming into higher fee rate assets. Core operating expenses (before sales-based compensation and public company costs) increased 9.6% year-over-year. Including sales-based compensation and public company costs, total operating expenses grew 14.6% to $180.8 million , and total operating expenses as a percentage of management fee revenue increased to 37.7% from 36.0% for the nine months ended September 30, 2015 and 2014, respectively. Total variable compensation grew 6.5% period-over-period to $132.0 million , while the ratio of variable compensation to earnings before variable compensation fell to 41.7% from 42.2% . The higher growth rate of operating expenses relative to revenue growth resulted in a (50) bps decrease in OMAM’s ENI operating margin before Affiliate key employee distributions to 37.1% from 37.6% . For the nine months ended September 30, 2015 , expenses related to being a public company (excluding interest expense) totaled $7.4 million ( $5.2 million of operating expenses; $2.2 million of variable compensation) and negatively impacted ENI operating margin by 1.5% . Affiliate key employee distributions decreased (2.4)% period-over-period to $28.0 million reflecting the repurchase of equity from an Affiliate in the fourth quarter of 2014. The ratio of Affiliate key employee distributions over earnings before Affiliate key employee distributions fell to 15.2% from 16.9% primarily due to the aforementioned repurchase of employee equity, as well as the allocation of performance fee revenue.

4

Exhibit 99.1

For the nine months ended September 30, 2015 , Adjusted EBITDA, excluding the extraordinary performance fee was $161.2 million , up 11.1% compared to $145.1 million for the same period of 2014 . See Table 13 for a reconciliation of economic net income before the extraordinary performance fee to Adjusted EBITDA, excluding the extraordinary performance fee.

																						
Table 4: Economic Net Income (Non-GAAP measure)	
 	 	 	 	 	 	 	 	 	 	 	 	
($ in millions, except per share data)	Three Months Ended September 30,	 	Nine Months Ended September 30,	
Economic Net Income (Non-GAAP measure)*	2015	 	2014	 	Increase
(Decrease)	 	2015	 	2014	 	Increase
(Decrease)	
Management fees	$	158.4		 	$	152.3		 	4.0	 %	 	$	480.2		 	$	437.9		 	9.7	 %	
Performance fees (excluding extraordinary performance fee)	3.3		 	2.9		 	13.8	 %	 	7.4		 	5.3		 	39.6	 %	
Other income, including equity-accounted subsidiaries	4.2		 	3.8		 	10.5	 %	 	9.4		 	7.8		 	20.5	 %	
Total ENI revenue	165.9		 	159.0		 	4.3	 %	 	497.0		 	451.0		 	10.2	 %	
Fixed compensation & benefits	32.6		 	29.0		 	12.4	 %	 	97.5		 	88.5		 	10.2	 %	
General and administrative expenses	25.8		 	24.1		 	7.1	 %	 	78.3		 	64.8		 	20.8	 %	
Depreciation and amortization	1.8		 	1.6		 	12.5	 %	 	5.0		 	4.4		 	13.6	 %	
Total ENI operating expenses	60.2		 	54.7		 	10.1	 %	 	180.8		 	157.7		 	14.6	 %	
Earnings before variable compensation	105.7		 	104.3		 	1.3	 %	 	316.2		 	293.3		 	7.8	 %	
Variable compensation	44.9		 	43.7		 	2.7	 %	 	132.0		 	123.9		 	6.5	 %	
Earnings after variable compensation	60.8		 	60.6		 	0.3	 %	 	184.2		 	169.4		 	8.7	 %	
Affiliate key employee distributions	9.3		 	11.1		 	(16.2	)%	 	28.0		 	28.7		 	(2.4	)%	
Earnings after Affiliate key employee distributions	51.5		 	49.5		 	4.0	 %	 	156.2		 	140.7		 	11.0	 %	
Interest income	0.1		 	—		 	n/m		 	0.2		 	0.1		 	100.0	 %	
Interest expense	(0.6	)	 	—		 	n/m		 	(2.2	)	 	—		 	n/m		
Pre-tax economic net income	51.0		 	49.5		 	3.0	 %	 	154.2		 	140.8		 	9.5	 %	
Tax on economic net income	13.1		 	11.9		 	10.1	 %	 	41.0		 	36.5		 	12.3	 %	
Economic net income excluding extraordinary performance fee	37.9		 	37.6		 	0.8	 %	 	113.2		 	104.3		 	8.5	 %	
Extraordinary performance fee, net***	—		 	—		 	n/m		 	11.4		 	—		 	n/m		
Economic net income (including extraordinary performance fee)	$	37.9		 	$	37.6		 	0.8	 %	 	$	124.6		 	$	104.3		 	19.5	 %	
ENI earnings per share excluding extraordinary performance fee, basic**	$	0.32		 	$	0.31		 	3.2	 %	 	$	0.94		 	$	0.87		 	8.0	 %	
ENI earnings per share excluding extraordinary performance fee, diluted**	0.31		 	0.31		 	—	 %	 	0.94		 	0.87		 	8.0	 %	
Economic net income earnings per share (including extraordinary performance fee), basic**	0.32		 	0.31		 	3.2	 %	 	1.04		 	0.87		 	19.5	 %	
Economic net income earnings per share (including extraordinary performance fee), diluted**	0.31		 	0.31		 	—	 %	 	1.03		 	0.87		 	18.4	 %	
Basic shares outstanding (in millions)**	120.0		 	120.0		 	 	 	120.0		 	120.0		 	 		
Diluted shares outstanding (in millions)**	120.5		 	120.0		 	 	 	120.5		 	120.0		 	 	
 	 	 	 	 	 	 	 	 	 	 	 	
Other Operational Information (excluding extraordinary performance fee)	 	 	 	 	 	 		 	 		 	 		
ENI operating margin before Affiliate key employee distributions	37	%	 	38	%	 	 	 	37	%	 	38	%	 	 		
ENI operating margin after Affiliate key employee distributions	31	%	 	31	%	 	 	 	31	%	 	31	%	 	 		
ENI operating expense / management fee revenue	38	%	 	36	%	 	 	 	38	%	 	36	%	 	 		
Variable compensation / earnings before variable compensation	42	%	 	42	%	 	 	 	42	%	 	42	%	 	 		
Affiliate key employee distributions / earnings before Affiliate key employee distributions	15	%	 	18	%	 	 	 	15	%	 	17	%	 	 		
Effective ENI tax rate	26	%	 	24	%	 	 	 	27	%	 	26	%	 	 		
Adjusted EBITDA, excluding extraordinary performance fee	$	53.3		 	$	51.1		 	4.3	 %	 	$	161.2		 	$	145.1		 	11.1	 %	
 	 	 	 	 	 	 	 	 	 	 	 	
* Amounts shown exclude the effect of the extraordinary performance fee, unless otherwise noted.	
** Reflects pro forma shares outstanding in prior periods	 	 	 	 	 	 	 	 	 	 	
*** Net of associated expenses and tax	
Please see "Definitions and Additional Notes"	

5

Financial Results: U.S. GAAP
 
For the three months ended September 30, 2015 and 2014, diluted earnings per share was $0.29 and $(0.01) , respectively. For the three months ended September 30, 2015 and 2014 , net income attributable to controlling interests was $35.0 million and $(1.7) million , respectively.  For the nine months ended September 30, 2015 and 2014, diluted earnings per share was $0.98 and $0.15 , respectively. For the nine months ended September 30, 2015 and 2014 , net income attributable to controlling interests was $118.6 million and $17.4 million , respectively.  See Table 5 for the Company's U.S. GAAP Statement of Operations. Due to our January 1, 2015 adoption of a new accounting standard that resulted in the de-consolidation of all Funds previously consolidated at December 31, 2014, certain line items such as Total revenue, Total expenses, and Net income have been impacted on a comparative basis. Refer to the "Balance Sheet and Capital Management" section above for additional information.

	
																						
Table 5: U.S. GAAP Statement of Operations	
 	 	 	 	 	 	 	 	 	 	 	 	
($ in millions)	Three Months Ended September 30,	 	Nine Months Ended September 30,	
 	2015	 	2014	 	Increase (Decrease)	 	2015	 	2014	 	Increase (Decrease)	
Management fees	$	158.4		 	$	147.4		 	7.5	 %	 	$	480.2		 	$	422.8		 	13.6	 %	
Performance fees	3.3		 	2.9		 	13.8	 %	 	55.5		 	5.3		 	n/m		
Other revenue	0.1		 	1.2		 	(91.7	)%	 	0.2		 	1.5		 	(86.7	)%	
Consolidated Funds’ revenue	—		 	108.5		 	(100.0	)%	 	—		 	360.2		 	(100.0	)%	
Total revenue	161.8		 	260.0		 	(37.8	)%	 	535.9		 	789.8		 	(32.1	)%	
Compensation and benefits	93.7		 	128.7		 	(27.2	)%	 	314.5		 	310.0		 	1.5	 %	
General and administrative	23.3		 	21.7		 	7.4	 %	 	66.0		 	58.8		 	12.2	 %	
Amortization and impairment of acquired intangibles	—		 	—		 	n/m		 	0.1		 	0.1		 	—	 %	
Depreciation and amortization	1.8		 	1.6		 	12.5	 %	 	5.0		 	4.4		 	13.6	 %	
Consolidated Funds’ expense	—		 	126.2		 	(100.0	)%	 	—		 	474.6		 	(100.0	)%	
Total expenses	118.8		 	278.2		 	(57.3	)%	 	385.6		 	847.9		 	(54.5	)%	
Operating income (loss)	43.0		 	(18.2	)	 	n/m		 	150.3		 	(58.1	)	 	n/m		
Investment income	4.2		 	3.1		 	35.5	 %	 	9.3		 	8.9		 	4.5	 %	
Interest income	0.1		 	—		 	n/m		 	0.2		 	0.1		 	100.0	 %	
Interest expense	(0.6	)	 	(16.6	)	 	96.4	 %	 	(2.2	)	 	(49.8	)	 	95.6	 %	
Consolidated Funds’ investment gain	—		 	16.0		 	(100.0	)%	 	—		 	47.5		 	(100.0	)%	
Income (loss) from continuing operations before taxes	46.7		 	(15.7	)	 	n/m		 	157.6		 	(51.4	)	 	n/m		
Income tax expense (benefit)	12.7		 	(6.0	)	 	(311.7	)%	 	40.9		 	10.2		 	301.0	 %	
Income (loss) from continuing operations	34.0		 	(9.7	)	 	n/m		 	116.7		 	(61.6	)	 	n/m		
Loss from discontinued operations, net of tax	—		 	—		 	n/m		 	—		 	(2.0	)	 	(100.0	)%	
Gain on disposal of discontinued operations, net of tax	1.0		 	1.3		 	(23.1	)%	 	1.9		 	3.7		 	(48.6	)%	
Net income (loss)	35.0		 	(8.4	)	 	n/m		 	118.6		 	(59.9	)	 	n/m		
Net loss attributable to non-controlling interests	—		 	(6.7	)	 	100.0	 %	 	—		 	(77.3	)	 	100.0	 %	
Net income (loss) attributable to controlling interests	$	35.0		 	$	(1.7	)	 	n/m		 	$	118.6		 	$	17.4		 	581.6	 %	
Earnings per share, basic $*	$	0.29		 	$	(0.01	)	 	n/m		 	$	0.98		 	$	0.15		 	553.3	 %	
Earnings per share, diluted $*	0.29		 	(0.01	)	 	n/m		 	0.98		 	0.15		 	553.3	 %	
Basic shares outstanding (in millions)*	120.0		 	120.0		 	 	 	120.0		 	120.0		 	 		
Diluted shares outstanding (in millions)*	120.5		 	120.0		 	 	 	120.5		 	120.0		 	 	
 	 	 	 	 	 	 	 	 	 	 	 	
U.S. GAAP operating margin	27	%	 	(7	)%	 	n/m		 	28	%	 	(7	)%	 	n/m		
Net income (loss) from continuing operations attributable to controlling interests	34.0		 	(3.0	)	 	n/m		 	116.7		 	20.4		 	472.1	 %	
Pre-tax income (loss) from continuing operations attributable to controlling interests	46.7		 	(9.0	)	 	n/m		 	157.6		 	30.6		 	415.0	 %	
* Reflects pro forma shares outstanding in prior periods	 	 	 	 	 	 	 	 	 	 	 	
Please see "Definitions and Additional Notes"	

6

Exhibit 99.1

Recent Events

On October 30, 2015, Julian Roberts stepped down as Chairman of the Company’s Board of Directors, following his retirement as Group Chief Executive of the Company's Parent.  James Ritchie, one of the Company’s current Directors, who has chaired the Board’s Audit Committee and served on its Nominating and Corporate Governance Committee, will serve as its new Chairman. Mr. Ritchie has served on the Board of OMAM and its predecessor company since 2007, and has served as a member of the Board of Directors of a number of companies in the insurance and financial services industries. In addition, Mr. Ritchie has served in such roles as Non-Executive Chairman of the Board of Directors, Chairman of the Audit Committee and Member of the Compensation Committee for certain of such companies. OMAM’s Board of Directors has commenced a search for an additional independent director.

On November 4, 2015, the Company filed a shelf registration statement on Form S-3 to register $2.0 billion of debt securities and ordinary shares.   

Dividend Declaration

The Company's Board of Directors approved a quarterly interim dividend of $0.08 per share payable on December 29, 2015 to shareholders of record as of the close of business on December 11, 2015.

About OMAM
 
OMAM is a global, multi-boutique asset management company with $208.7 billion of assets under management as of September 30, 2015 . Its diverse Affiliates offer leading, alpha generating investment products to investors around the world. OMAM’s partnership approach, which includes equity ownership at the Affiliate level and a profit sharing relationship between OMAM and its Affiliates, aligns the interests of the Company and its Affiliates to work collaboratively in accelerating their growth. OMAM’s business model combines the investment talent, entrepreneurialism, focus and creativity of leading asset management boutiques with the resources and capabilities of a larger firm. For more information about OMAM, please visit the Company’s website at www.omam.com.

  Forward Looking Statements
 
This press release includes forward-looking statements, as that term is used in the Private Securities Litigation Reform Act of 1995, including information relating to anticipated growth in revenues, margins or earnings, anticipated changes in the Company’s business, anticipated future performance of the Company’s business, anticipated future investment performance of the Company’s Affiliates, expected future net cash flows, anticipated expense levels, changes in expense, the expected effects of acquisitions and expectations regarding market conditions.  The words or phrases ‘‘will likely result,’’ ‘‘are expected to,’’ ‘‘will continue,’’ ‘‘is anticipated,’’ ‘‘can be,’’ ‘‘may be,’’ ‘‘aim to,’’ ‘‘may affect,’’ ‘‘may depend,’’ ‘‘intends,’’ ‘‘expects,’’ ‘‘believes,’’ ‘‘estimate,’’ ‘‘project,’’ and other similar expressions are intended to identify such forward-looking statements. Such statements are subject to various known and unknown risks and uncertainties and readers should be cautioned that any forward-looking information provided by or on behalf of the Company is not a guarantee of future performance.
 
Actual results may differ materially from those in forward-looking information as a result of various factors, some of which are beyond the Company’s control, including but not limited to those discussed above and elsewhere in this press release and in the Company's most recent Registration Statement on Form S-1, as amended, filed with the Securities and Exchange Commission on June 8, 2015. Due to such risks and uncertainties and other factors, the Company cautions each person receiving such forward-looking information not to place undue reliance on such statements. Further, such forward-looking statements speak only as of the date of this press release and the Company undertakes no obligations to update any forward looking statement to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

7

Exhibit 99.1

Conference Call Dial-in

The Company will hold a conference call and simultaneous webcast to discuss the results at 10:00 a.m. Eastern Time on November 4, 2015. The Company has also released an earnings presentation that will be discussed during the conference call. Please go to http://ir.omam.com to download the presentation. To listen to the call or view the webcast, participants should:

Dial-in :               
Toll Free Dial-in Number:            (866) 393-4306
International Dial-in Number:        (734) 385-2616
Conference ID:                64955127

Link to Webcast :
http://event.on24.com/r.htm?e=1080875&s=1&k=BC0F0976768FA970C91A82A91D02A3EC

Dial-in Replay :
A replay of the call will be available beginning approximately one hour after its conclusion either on OMAM’s website, at http://ir.omam.com or at:
Toll Free Dial-in Number:            (855) 859-2056
International Dial-in Number:        (404) 537-3406
Conference ID:                64955127

8

Exhibit 99.1

Financial Tables

	
												
Table 6: Condensed and Consolidated Balance Sheets	
 	 	 	 	 	 	
($ in millions)	September 30, 2015	 	December 31, 2014	
 	(U.S. GAAP)	 	Excluding Consolidated Funds
(Non-GAAP)	 	Including Consolidated Funds
(U.S. GAAP)	
Assets	 		 	 	 	 		
Cash and cash equivalents	$	126.8		 	$	175.6		 	$	175.6		
Investment advisory fees receivable	145.3		 	165.1		 	161.1		
Investments	152.2		 	149.3		 	149.3		
Other assets	487.6		 	503.2		 	503.2		
Assets of Consolidated Funds	—		 	—		 	6,783.7		
Total assets	$	911.9		 	$	993.2		 	$	7,772.9		
 	 	 	 	 	 	
Liabilities and equity	 		 	 		 	 		
Accounts payable and accrued expenses	$	160.1		 	$	171.6		 	$	171.6		
Due to related parties	239.9		 	289.9		 	289.9		
Notes payable to related parties	—		 	37.0		 	37.0		
Third party borrowings	70.0		 	177.0		 	177.0		
Other liabilities	317.7		 	281.2		 	281.2		
Liabilities of Consolidated Funds	—		 	—		 	4,258.8		
Total liabilities	787.7		 	956.7		 	5,215.5		
 	 	 	 	 	 	
Redeemable non-controlling interests in
Consolidated Funds	—		 	—		 	61.9		
Shareholders' equity	124.2		 	36.5		 	36.5		
Non-controlling interests in Consolidated Funds	—		 	—		 	2,459.0		
Total equity	124.2		 	36.5		 	2,557.4		
Total liabilities and equity	$	911.9		 	$	993.2		 	$	7,772.9		
Please see "Definitions and Additional Notes"	
The Non-GAAP Balance Sheet as of December 31, 2014 excludes the assets and liabilities of Consolidated Funds and includes all receivables and seed investments otherwise eliminated upon Funds consolidation. Amounts as of September 30, 2015 reflect the adoption of ASU 2015-02 resulting in the de-consolidation of all Funds. See "Balance Sheet and Capital Management" herein for further discussion.	

9

Exhibit 99.1

	
																				
Table 7: Assets Under Management Rollforward by Asset Class	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	
($ in billions, unless otherwise noted)	Three Months Ended	 	Nine Months Ended	
 	September 30, 2015	 	June 30, 2015	 	September 30, 2014	 	September 30, 2015	 	September 30, 2014	
U.S. equity	 		 	 		 	 		 	 	 	 	
Beginning balance	$	85.4		 	$	85.5		 	$	86.0		 	$	87.3		 	$	80.6		
Gross inflows	1.3		 	2.3		 	2.3		 	4.5		 	6.6		
Gross outflows	(4.9	)	 	(3.2	)	 	(3.0	)	 	(11.5	)	 	(7.2	)	
Net flows	(3.6	)	 	(0.9	)	 	(0.7	)	 	(7.0	)	 	(0.6	)	
Market appreciation (depreciation)	(6.7	)	 	0.8		 	(0.9	)	 	(5.2	)	 	4.8		
Other	—		 	—		 	—		 	—		 	(0.4	)	
Ending balance	$	75.1		 	$	85.4		 	$	84.4		 	$	75.1		 	$	84.4		
Average AUM	$	80.8		 	$	86.0		 	$	85.3		 	$	84.0		 	$	82.9		
 	 	 	 	 	 	 	 	 	 	
Global / non-U.S. equity	 		 	 	 	 		 	 	 	 	
Beginning balance	$	90.7		 	$	88.1		 	$	82.7		 	$	84.0		 	$	74.3		
Gross inflows	3.3		 	3.2		 	5.0		 	10.9		 	11.7		
Gross outflows	(2.0	)	 	(2.3	)	 	(1.8	)	 	(6.9	)	 	(6.3	)	
Net flows	1.3		 	0.9		 	3.2		 	4.0		 	5.4		
Market appreciation (depreciation)	(9.6	)	 	1.1		 	(3.7	)	 	(6.2	)	 	2.5		
Other	—		 	0.6		 	—		 	0.6		 	—		
Ending balance	$	82.4		 	$	90.7		 	$	82.2		 	$	82.4		 	$	82.2		
Average AUM	$	86.9		 	$	90.8		 	$	83.5		 	$	87.6		 	$	78.8		
 	 	 	 	 	 	 	 	 	 	
Fixed income	 		 	 	 	 		 	 	 	 	
Beginning balance	$	14.8		 	$	15.3		 	$	14.5		 	$	15.2		 	$	13.5		
Gross inflows	0.3		 	0.5		 	0.5		 	1.2		 	1.8		
Gross outflows	(0.5	)	 	(0.4	)	 	(0.3	)	 	(1.5	)	 	(1.6	)	
Net flows	(0.2	)	 	0.1		 	0.2		 	(0.3	)	 	0.2		
Market appreciation (depreciation)	0.1		 	(0.6	)	 	(0.1	)	 	(0.2	)	 	0.9		
Ending balance	$	14.7		 	$	14.8		 	$	14.6		 	$	14.7		 	$	14.6		
Average AUM	$	14.8		 	$	15.2		 	$	14.7		 	$	15.1		 	$	14.3		
 	 	 	 	 	 	 	 	 	 	
Alternative, real estate & timber	 		 	 	 	 		 	 	 	 	
Beginning balance	$	35.7		 	$	35.1		 	$	31.7		 	$	34.3		 	$	30.4		
Gross inflows	1.3		 	1.5		 	1.1		 	4.1		 	2.7		
Gross outflows	(0.4	)	 	(0.6	)	 	(0.2	)	 	(1.3	)	 	(0.6	)	
Hard asset disposals	(0.9	)	 	(0.2	)	 	(0.5	)	 	(1.4	)	 	(1.4	)	
Net flows	—		 	0.7		 	0.4		 	1.4		 	0.7		
Market appreciation (depreciation)	0.8		 	(0.2	)	 	0.5		 	0.7		 	1.5		
Other	—		 	0.1		 	—		 	0.1		 	—		
Ending balance	$	36.5		 	$	35.7		 	$	32.6		 	$	36.5		 	$	32.6		
Average AUM	$	36.1		 	$	35.2		 	$	32.5		 	$	35.5		 	$	31.6		
 	 	 	 	 	 	 	 	 	 	
Total	 		 	 	 	 		 	 	 	 	
Beginning balance	$	226.6		 	$	224.0		 	$	214.9		 	$	220.8		 	$	198.8		
Gross inflows	6.2		 	7.5		 	8.9		 	20.7		 	22.8		
Gross outflows	(7.8	)	 	(6.5	)	 	(5.3	)	 	(21.2	)	 	(15.7	)	
Hard asset disposals	(0.9	)	 	(0.2	)	 	(0.5	)	 	(1.4	)	 	(1.4	)	
Net flows	(2.5	)	 	0.8		 	3.1		 	(1.9	)	 	5.7		
Market appreciation (depreciation)	(15.4	)	 	1.1		 	(4.2	)	 	(10.9	)	 	9.7		
Other	—		 	0.7		 	—		 	0.7		 	(0.4	)	
Ending balance	$	208.7		 	$	226.6		 	$	213.8		 	$	208.7		 	$	213.8		
Average AUM	$	218.6		 	$	227.2		 	$	216.0		 	$	222.2		 	$	207.6		
 	 	 	 	 	 	 	 	 	 	
Basis points: inflows	45.6		 	46.1		 	46.3		 	46.1		 	43.3		
Basis points: outflows	31.6		 	31.4		 	38.4		 	30.9		 	37.6		
Annualized revenue impact of net flows (in millions)	$	0.7		 	$	13.5		 	$	19.1		 	$	25.5		 	$	34.5		
Derived weighted average NCCF	0.2		 	3.9		 	5.8		 	7.4		 	10.4		
Please see "Definitions and Additional Notes"	 	 	 	 	

10

Exhibit 99.1

	
																																			
Table 8: Management Fee Revenue and Average Fee Rates on Assets Under Management	
 	 	 	 	 	 	 	 	 	
($ in millions, except AUM data in billions)	Three Months Ended	 	Nine Months Ended	
	September 30, 2015	 	June 30, 2015	 	September 30, 2014		September 30, 2015	 	September 30, 2014	
 	Revenue	 	Basis Pts	 	Revenue	 	Basis Pts	 	Revenue	 	Basis Pts	 	Revenue	 	Basis Pts	 	Revenue	 	Basis Pts	
U.S. equity	$	52.9		 	26		 	$	52.2		 	24		 	$	50.6		 	24		 	$	156.9		 	25		 	$	148.0		 	24		
Global / non-U.S. equity	89.5		 	41		 	96.1		 	42		 	87.4		 	42		 	274.9		 	42		 	248.7		 	42		
Fixed income	7.7		 	21		 	8.3		 	22		 	8.1		 	22		 	24.2		 	21		 	23.5		 	22		
Alternative, real estate & timber	39.9		 	44		 	37.9		 	43		 	34.0		 	42		 	114.9		 	43		 	99.2		 	42		
Weighted average fee rate on average AUM	$	190.0		 	34.5		 	$	194.5		 	34.3		 	$	180.1		 	33.1		 	$	570.9		 	34.4		 	$	519.4		 	33.5		
Less: Revenue from equity-accounted Affiliates	(31.6	)	 	 	 	(29.6	)	 	 		 	(27.8	)	 	 	 	(90.7	)	 	 	 	(81.5	)	 	 	
ENI management fee revenue	$	158.4		 	33.3		 	$	164.9		 	33.5		 	$	152.3		 	32.1		 	$	480.2		 	33.4		 	$	437.9		 	32.4		
Average AUM	218.6		 	 		 	227.2		 	 		 	216.0		 	 	 	222.2		 	 	 	207.6		 	 	
Average AUM excluding equity accounted Affiliates	188.5		 	 		 	197.5		 	 	 	188.5		 	 	 	192.5		 	 	 	180.8		 	 	
Please see "Definitions and Additional Notes"	 	 	 	 	 	 	 	 	

	
																
Table 9: Assets Under Management by Strategy	
 	
($ in billions)	September 30, 2015	 	June 30, 2015	 	December 31, 2014	 	September 30, 2014	
U.S. equity, small/smid cap	$	6.9		 	$	8.0		 	$	7.8		 	$	7.3		
U.S. equity, mid cap value	9.1		 	9.8		 	9.5		 	9.1		
U.S. equity, large cap value	56.3		 	62.7		 	65.4		 	63.7		
U.S. equity, core/blend	2.8		 	4.9		 	4.6		 	4.3		
Total U.S. equity	75.1		 	85.4		 	87.3		 	84.4		
Global equity	28.2		 	30.2		 	30.0		 	28.7		
International equity	34.1		 	36.7		 	31.9		 	31.3		
Emerging markets equity	20.1		 	23.8		 	22.1		 	22.2		
Total Global/non-U.S. equity	82.4		 	90.7		 	84.0		 	82.2		
Fixed income	14.7		 	14.8		 	15.2		 	14.6		
Alternative, real estate & timber	36.5		 	35.7		 	34.3		 	32.6		
Total assets under management	$	208.7		 	$	226.6		 	$	220.8		 	$	213.8		
Please see "Definitions and Additional Notes"	

11

Exhibit 99.1

	
																
Table 10: Assets Under Management by Affiliate	
 	
($ in billions)	September 30, 2015	 	June 30, 2015	 	December 31, 2014	 	September 30, 2014	
Acadian Asset Management	$	66.4		 	$	74.8		 	$	70.3		 	$	69.7		
Barrow, Hanley, Mewhinney & Strauss	88.1		 	97.1		 	99.7		 	96.3		
Campbell Global	6.5		 	6.5		 	6.8		 	6.7		
Copper Rock Capital	4.1		 	4.4		 	3.2		 	2.9		
Heitman*	28.3		 	27.7		 	26.7		 	25.3		
Investment Counselors of Maryland*	1.7		 	2.2		 	2.1		 	2.1		
Thompson, Siegel & Walmsley	13.6		 	13.9		 	12.0		 	10.8		
Total assets under management	$	208.7		 	$	226.6		 	$	220.8		 	$	213.8		
*Equity-accounted Affiliates
Please see "Definitions and Additional Notes"	

	
								
  Table 11: Investment Performance	
 	
The following table represents the percentages of products performing ahead of their respective benchmarks on a 1-, 3-, and 5- year basis as of the dates indicated.  Please see definitions and additional notes for information regarding the calculation of these performance measures.	
 	 	 	 	 	 	 	 	
 	Revenue-Weighted	
 	September 30, 2015	 	June 30, 2015	 	December 31, 2014	 	September 30, 2014	
1-Year	68%	 	70%	 	63%	 	66%	
3-Year	84%	 	74%	 	66%	 	70%	
5-Year	93%	 	89%	 	78%	 	81%	
 	 	 	 	 	 	 	 	
 	Equal-Weighted	
 	September 30, 2015	 	June 30, 2015	 	December 31, 2014	 	September 30, 2014	
1-Year	73%	 	64%	 	66%	 	75%	
3-Year	82%	 	81%	 	76%	 	80%	
5-Year	90%	 	88%	 	88%	 	91%	
 	 	 	 	 	 	 	 	
 	Asset-Weighted	
 	September 30, 2015	 	June 30, 2015	 	December 31, 2014	 	September 30, 2014	
1-Year	61%	 	61%	 	48%	 	53%	
3-Year	75%	 	61%	 	52%	 	57%	
5-Year	95%	 	80%	 	64%	 	68%	
Please see "Definitions and Additional Notes"	 	 	 	 	 	 	 	

12

Exhibit 99.1

	
																		
Table 12: Reconciliation of U.S. GAAP Net Income Attributable to Controlling Interests to Economic Net Income	 	
 	 	
($ in millions)	Three Months Ended September 30,	 	Nine Months Ended September 30,	 	
 	2015	 	2014	 	2015	 	2014	 	
U.S. GAAP net income attributable to controlling interests	$	35.0		 	$	(1.7	)	 	$	118.6		 	$	17.4		 	
Adjustments related to restructuring and reorganization actions undertaken in connection with the Company’s initial public offering:	 	 	 	 	 	 	 	 	
i.	Non-cash notional parent corporate cost allocation	—		 	1.8		 	—		 	3.4		 	
ii.	Intercompany interest expense	—		 	16.6		 	—		 	49.8		 	
iii.	Co-investment (gain)	—		 	(0.5	)	 	—		 	(2.6	)	 	
Adjustments to reflect the economic earnings of the Company:	 	 	 	 	 	 	 	 	
iv.	Non-cash key employee-owned equity and profit-interest revaluations	2.7		 	40.2	*	 	14.0		 	57.1	*	 	
v.	Amortization and impairment of goodwill and acquired intangible assets	—		 	—		 	0.1		 	0.1		 	
vi.	Capital transaction costs	1.6		 	—		 	1.6		 	—		 	
vii.	Discontinued operations attributable to controlling interests and restructuring	(1.0	)	 	(0.9	)	 	(1.9	)	 	5.4		 	
viii.	ENI tax normalization	1.3		 	(1.7	)	 	(1.5	)	 	(3.5	)	 	
Tax effect of above adjustments, as applicable	(1.7	)	 	(16.2	)	 	(6.3	)	 	(22.8	)	 	
Economic net income (including extraordinary performance fee)	$	37.9		 	$	37.6		 	$	124.6		 	$	104.3		 	
 	 	
($ per diluted share)	 	 	 	 	 	 	 	 	
U.S. GAAP net income attributable to controlling interests	$	0.29		 	$	(0.01	)	 	$	0.98		 	$	0.15		 	
Adjustments related to restructuring and reorganization actions undertaken in connection with the Company’s initial public offering:	 	 	 	 	 	 	 	 	
i.	Non-cash notional parent corporate cost allocation	—		 	0.01		 	—		 	0.03		 	
ii.	Intercompany interest expense	—		 	0.14		 	—		 	0.41		 	
iii.	Co-investment (gain)	—		 	—		 	—		 	(0.02	)	 	
Adjustments to reflect the economic earnings of the Company:	 	 	 	 	 	 	 	 	
iv.	Non-cash key employee-owned equity and profit-interest revaluations	0.02		 	0.34		 	0.12		 	0.48		 	
v.	Amortization and impairment of goodwill and acquired intangible assets	—		 	—		 	—		 	—		 	
vi.	Capital transaction costs	0.01		 	—		 	0.01		 	—		 	
vii.	Discontinued operations attributable to controlling interests and restructuring	(0.01	)	 	(0.01	)	 	(0.02	)	 	0.04		 	
viii.	ENI tax normalization	0.01		 	(0.01	)	 	(0.01	)	 	(0.03	)	 	
Tax effect of above adjustments, as applicable	(0.01	)	 	(0.15	)	 	(0.05	)	 	(0.19	)	 	
Economic net income (including extraordinary performance fee)	$	0.31		 	$	0.31		 	$	1.03		 	$	0.87		 	
Please see "Definitions and Additional Notes"	 	
*Includes $31.6 million related to the purchase of additional ownership interests in an Affiliate	

13

Exhibit 99.1

	
																
Table 13: Reconciliation of Economic Net Income to Adjusted EBITDA	
 	
($ in millions)	Three Months Ended September 30,	 	Nine Months Ended September 30,	
 	2015	 	2014	 	2015	 	2014	
Economic net income, excluding extraordinary performance fee	$	37.9		 	$	37.6		 	$	113.2		 	$	104.3		
Depreciation and amortization	1.8		 	1.6		 	5.0		 	4.4		
Net interest (income) expense	0.5		 	—		 	2.0		 	(0.1	)	
Tax on economic net income	13.1		 	11.9		 	41.0		 	36.5		
Adjusted EBITDA, excluding extraordinary performance fee	$	53.3		 	$	51.1		 	$	161.2		 	$	145.1		
Please see "Definitions and Additional Notes"	

14

Exhibit 99.1

Definitions and Additional Notes
 
References to “OMAM” or the “Company” refer to OM Asset Management plc; references to the “Parent” or “Old Mutual” refer to Old Mutual plc; references to the “Offering” refer to the Company’s initial public offering dated October 8, 2014 and references to the “Prospectus” refer to the Company’s Prospectus dated as of that date; references to the “Reorganization” refer to the steps taken by OMAM’s Parent prior to the Offering to reorganize the ownership of the business, as described in the Company’s Prospectus. OMAM operates its business through seven boutique asset management firms (the “Affiliates”). OMAM's distribution activities are conducted in various jurisdictions through affiliated companies in accordance with local regulatory requirements.

Economic Net Income
 
The Company uses a non-GAAP performance measure referred to as economic net income (“ENI”) to represent its view of the underlying economic earnings of the business. ENI is used to make resource allocation decisions, determine appropriate levels of investment or dividend payout, manage balance sheet leverage, determine Affiliate variable compensation and equity distributions, and incentivize management. The Company’s ENI adjustments to U.S. GAAP include both reclassifications of U.S. GAAP revenue and expense items, as well as adjustments to U.S. GAAP results, primarily to exclude non-cash, non-economic expenses, or to reflect cash benefits not recognized under U.S. GAAP.
 
The Company re-categorizes certain line items on the income statement to:

•	exclude the effect of Fund consolidation by removing the portion of Fund revenues, expenses and investment return which is not attributable to its shareholders;	
		
•	include within management fee revenue any fees paid to Affiliates by Consolidated Funds, which are viewed as investment income under U.S. GAAP;	
		
•	include the Company’s share of earnings from equity-accounted Affiliates within other income, rather than investment income;	
		
•	treat sales-based compensation as a general and administrative expense, rather than part of fixed compensation and benefits;	
		
•	identify separately, the fixed and variable components of compensation and benefits expense; and	
		
•	identify separately as Affiliate distributions the component of U.S. GAAP compensation that represents earnings shared with Affiliate key employee equity and profit-interest holders.	

To reflect the Reorganization which took place at the time of the Offering, the Company has excluded:

i.	notional corporate cost allocations which are non-cash expenses that will not recur following the Offering;	
		
ii.	interest expense historically paid to the Parent, as the related debt was restructured in connection with the Offering and thereafter has been eliminated from consolidated results; and	
		
iii.	historic mark-to-market co-investment gains and losses, because these investments and ongoing returns thereon have been allocated wholly to Old Mutual plc in connection with the Offering.	
 
The Company also makes the following adjustments to U.S. GAAP results to more closely reflect its economic results by excluding:

iv.	non-cash expenses representing changes in the value of Affiliate equity and profit interests held by Affiliate key employees. These ownerships interests may in certain circumstances be repurchased by OMAM at a value based on a pre-determined fixed multiple of trailing earnings and as such this value is carried on the Company’s balance sheet as a liability. Non-cash movements in the value of this liability are treated as compensation expense under U.S. GAAP. However, any equity or profit interests repurchased by OMAM can be used to fund a portion of future variable compensation awards, resulting in savings in cash variable compensation that offset the negative cash effect of repurchasing the equity.	
		
v.	non-cash amortization or impairment expenses related to acquired goodwill and other intangibles as these are non-cash charges that do not result in an outflow of tangible economic benefits from the business. 	
		
vi.	capital transaction costs, including the costs of raising debt or equity, gains or losses realized as a result of redeeming debt or equity and direct incremental costs associated with acquisitions of businesses or assets.	
		
vii.	the results of discontinued operations attributable to controlling interests since they are not part of the Company’s ongoing business, and restructuring costs incurred in continuing operations which represent an exit from a distinct product or line of business.	

15

Exhibit 99.1

viii.	deferred tax resulting from changes in tax law and expiration of statutes, adjustments for uncertain tax positions, deferred tax attributable to intangible assets and other unusual items not related to current operating results to reflect ENI tax normalization.	
 
The Company adjusts its income tax expense to reflect any tax impact of its ENI adjustments.  Please see Table 12 for a reconciliation of net income attributable to controlling interests to economic net income.
 
Adjusted EBITDA
 
Adjusted EBITDA is defined as economic net income before interest, income taxes, depreciation and amortization. For the nine months ended September 30, 2015, it is presented here excluding the impact of the extraordinary performance fee. The Company notes that its calculation of Adjusted EBITDA may not be consistent with Adjusted EBITDA as calculated by other companies. The Company believes Adjusted EBITDA is a useful liquidity metric because it indicates the Company’s ability to make further investments in its business, service debt and meet working capital requirements. Please see Table 13 for a reconciliation of economic net income to Adjusted EBITDA.
 
Methodologies for calculating investment performance (1) :
 
Revenue-weighted investment performance measures the percentage of management fee revenue generated by Affiliate strategies which are beating benchmarks. It calculates each strategy’s percentage weight by taking its estimated composite revenue over total composite revenues in each period, then sums the total percentage of revenue for strategies outperforming.
 
Equal-weighted investment performance measures the percentage of Affiliates’ scale strategies (defined as strategies with greater than $100 million of AUM) beating benchmarks. Each outperforming strategy over $100 million has the same weight; the calculation sums the number of strategies outperforming relative to the total number of composites over $100 million.
 
Asset-weighted investment performance measures the percentage of AUM in strategies beating benchmarks.  It calculates each strategy’s percentage weight by taking its composite AUM over total composite AUM in each period, then sums the total percentage of AUM for strategies outperforming.
 
ENI Operating Margin before Affiliate key employee distributions
 
ENI operating margin before Affiliate key employee distributions is a non-GAAP efficiency measure, calculated based on earnings after variable compensation divided by ENI revenue.
 
ENI Operating Margin after Affiliate key employee distributions
 
ENI operating margin after Affiliate key employee distributions is a non-GAAP efficiency measure, calculated based on earnings after Affiliate key employee distributions, divided by ENI revenue.
 
U.S. GAAP operating margin
 
U.S. GAAP operating margin equals operating income (loss) from continuing operations divided by total revenue.
 
Consolidated Funds
 
Prior to January 1, 2015, financial information presented in accordance with U.S. GAAP includes the results of consolidated pooled investment vehicles, or Funds, managed by our Affiliates, where it has been determined that these entities are controlled by the Company. Financial results which are “attributable to controlling interests” exclude the impact of Funds which are not attributable to our shareholders.
 
______________________
(1) Barrow Hanley’s Windsor II Large Cap Value account AUM and return are separated from Barrow Hanley’s Large Cap Value composite in revenue-weighted, equal-weighted and asset-weighted outperformance percentage calculations.

16

Exhibit 99.1

Annualized Revenue Impact of Net Flows (NCCF)
 
Annualized revenue impact of net flows represents the difference between annualized management fees expected to be earned on new accounts and net assets contributed to existing accounts, less the annualized management fees lost on terminated accounts or net assets withdrawn from existing accounts, including equity-accounted Affiliates. Annualized revenue is calculated by multiplying the annual gross fee rate for the relevant account by the net assets gained in the account in the event of a positive flow or the net assets lost in the account in the event of an outflow.
 
Hard asset disposals
 
Net flows in Table 2 and Table 7 include hard asset disposals made by OMAM’s Affiliates.  This category is made up of investment-driven asset dispositions made by Heitman, a real estate manager, or Campbell, a timber manager.

Derived average weighted NCCF

Derived average weighted NCCF reflects the implied NCCF if annualized revenue represents asset flows at the weighted fee rate for OMAM overall (i.e. 34.5 bps in Q3 '15). For example, NCCF annualized revenue impact of $0.7 million divided by the average weighted fee rate of OMAM's overall AUM of 34.5 bps equals the derived average weighted NCCF of $0.2 billion.

n/m

"Not meaningful."

17

Exhibit 99.1

Supplemental Information

	
																												
Table 14: Assets Under Management by Client Type	
 	
($ in billions)	September 30, 2015	 	June 30, 2015	 	December 31, 2014	 	September 30, 2014	
 	AUM	 	% of total	 	AUM	 	% of total	 	AUM	 	% of total	 	AUM	 	% of total	
Sub-advisory	$	67.4		 	32.3	%	 	$	74.1		 	32.7	%	 	$	74.1		 	33.5	%	 	$	72.1		 	33.7	%	
Corporate / Union	41.5		 	19.9	%	 	43.5		 	19.2	%	 	44.4		 	20.1	%	 	42.5		 	19.9	%	
Public / Government	68.9		 	33.0	%	 	74.1		 	32.7	%	 	70.2		 	31.8	%	 	68.5		 	32.0	%	
Endowment / Foundation	4.2		 	2.0	%	 	4.6		 	2.0	%	 	3.7		 	1.7	%	 	3.9		 	1.8	%	
Old Mutual Group	3.6		 	1.7	%	 	4.0		 	1.8	%	 	4.2		 	1.9	%	 	4.6		 	2.2	%	
Commingled Trust/UCITS	13.9		 	6.7	%	 	16.2		 	7.2	%	 	14.7		 	6.7	%	 	13.7		 	6.4	%	
Mutual Fund	2.5		 	1.2	%	 	3.0		 	1.3	%	 	3.0		 	1.4	%	 	2.8		 	1.3	%	
Other	6.7		 	3.2	%	 	7.1		 	3.1	%	 	6.5		 	2.9	%	 	5.7		 	2.7	%	
Total Assets Under Management	$	208.7		 	 	 	$	226.6		 	 	 	$	220.8		 	 	 	$	213.8		 	 	
Please see "Definitions and Additional Notes"	

	
																												
Table 15: AUM by Client Location	
 	
($ in billions)	September 30, 2015	 	June 30, 2015	 	December 31, 2014	 	September 30, 2014	
 	AUM	 	% of total	 	AUM	 	% of total	 	AUM	 	% of total	 	AUM	 	% of total	
U.S.	$	167.6		 	80.3	%	 	$	180.0		 	79.4	%	 	$	176.6		 	80.0	%	 	$	170.4		 	79.7	%	
Europe	14.1		 	6.8	%	 	15.5		 	6.9	%	 	15.8		 	7.2	%	 	15.7		 	7.4	%	
Asia	11.7		 	5.6	%	 	12.2		 	5.4	%	 	11.6		 	5.2	%	 	11.2		 	5.2	%	
Middle East	1.7		 	0.8	%	 	4.1		 	1.8	%	 	4.1		 	1.9	%	 	3.9		 	1.8	%	
Australia	5.4		 	2.6	%	 	6.0		 	2.6	%	 	4.9		 	2.2	%	 	4.7		 	2.2	%	
Other	8.2		 	3.9	%	 	8.8		 	3.9	%	 	7.8		 	3.5	%	 	7.9		 	3.7	%	
Total Assets Under Management	$	208.7		 	 	 	$	226.6		 	 	 	$	220.8		 	 	 	$	213.8		 	 	
Please see "Definitions and Additional Notes"	

	
																		
Table 16: AUM NCCF, Annualized Revenue Impact of NCCF, Fee Rates and Derived Average Weighted NCCF	
 	 	 	 	 	 	 	 	
 	 	 	AUM NCCF
($ billions)	 	Annualized Revenue
Impact of NCCF
($ millions)	 	Weighted Average Fee Rate on Total Average AUM (bps)	 	Derived Average Weighted NCCF
($ billions)	 	
 	2012	Q1	$	1.2		 	$	4.5		 	35.2		 	$	1.3		 	
 	 	Q2	(1.4	)	 	(4.4	)	 	33.6		 	(1.3	)	 	
 	 	Q3	(1.0	)	 	1.1		 	34.0		 	0.3		 	
 	 	Q4	1.6		 	10.0		 	34.0		 	2.9		 	
 	2013	Q1	3.0		 	11.6		 	34.6		 	3.4		 	
 	 	Q2	3.2		 	8.6		 	33.4		 	2.6		 	
 	 	Q3	1.0		 	5.8		 	33.4		 	1.7		 	
 	 	Q4	3.3		 	16.5		 	33.5		 	4.9		 	
 	2014	Q1	(1.0	)	 	(3.0	)	 	33.7		 	(0.9	)	 	
 	 	Q2	3.6		 	18.4		 	33.5		 	5.5		 	
 	 	Q3	3.1		 	19.1		 	33.1		 	5.8		 	
 	 	Q4	3.8		 	20.0		 	32.9		 	6.1		 	
 	2015	Q1	(0.2	)	 	11.3		 	34.0		 	3.3		 	
 	 	Q2	0.8		 	13.5		 	34.3		 	3.9		 	
 	 	Q3	(2.5	)	 	0.7		 	34.5		 	0.2		 	
Please see "Definitions and Additional Notes"	 	 	 	 	 	

18

Q3 2015 Earnings Presentation November 4, 2015 Exhibit 99.2

 

│ Disclaimer 2 Forward Looking Statements This presentation may contain forward looking statements for the purposes of the safe harbor provision under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by words such as “expect,” “anticipate,” “may,” “intends,” “believes,” “estimate,” “project,” and other similar expressions. Such statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from these forward looking statements. These factors include, but are not limited to, the factors described in OMAM’s filings made with the Securities and Exchange Commission, including our Form S-1, as filed with the SEC on June 8, 2015, as amended, under the heading “Risk Factors.” Any forward-looking statements in this presentation are based on assumptions as of today and we undertake no obligation to update these statements as a result of new information or future events. We urge you not to place undue reliance on any forward-looking statements. Non-GAAP Financial Measures This presentation may contain non-GAAP financial measures. A reconciliation of GAAP to non- GAAP measures is included in the appendix to this presentation.

 

│ • Q3’15 ENI per share of $0.31 consistent with Q3’14 ENI per share of $0.31 ‒ Total Q3’15 ENI of $37.9 million up 0.8% over Q3’14 ENI of $37.6 million • Net Client Cash Flows of $(2.5) billion for Q3’15 yielding positive annualized revenue impact of $0.7 million for Q3 and $25.5 million for the year to date (3.5% of beginning run-rate management fees) ‒ Concentration of inflows in higher fee products ‒ NCCF were impacted by several lumpy outflows, including a large institutional withdrawal • AUM of $209 billion down 2% over Q3’14 and 8% over Q2’15 ‒ Of this decrease, (7)% decline from Q2’15 is attributed to Q3 market movement • Long-term investment performance remains strong with strategies representing 68%, 84% and 93% of revenue outperforming benchmarks on a 1-, 3-, and 5-yr basis • Partnership pipeline continues to progress • Jim Ritchie named Chairman of OMAM Board following retirement of Julian Roberts as Old Mutual plc CEO and OMAM Chairman ___________________________________________________________ Overview and Highlights 3 Please see definitions and additional notes.

 

│ Growth Strategy 4 OMAM’s multi-boutique model is well positioned for growth, with four key areas of focus… Please see definitions and additional notes. Global Distribution New Partnerships Collaborative Organic Growth (Growth and Seed / Co-Investment Capital) Core Affiliate Growth (Investment Performance and Net Client Cash Flows) OMAM’s Aligned Partnership Model - Affiliate-level employee ownership - Long-term perspective - Talent management - Operating autonomy - At-scale Affiliates - Profit-sharing model Four Key Growth Areas Unique Partnership Approach Provides Stability and the Foundation For Growth Multi-Boutique Value Proposition Drives Incremental Growth Opportunities ___________________________________________________________

 

│ AUM Progression and Mix 5 Please see definitions and additional notes. Net Flows AUM at Period End Market Appreciation (Depreciation) and Other As % of BoP AUM AUM Progression (Last 12 Months) $213.8 $208.7 $1.9 $(7.0) $150 $170 $190 $210 $230 Q3'14 Q3'15 0.9% -3.3% $B AUM Progression (3rd Quarter) $226.6 $208.7 $(2.5) $(15.4) $150 $170 $190 $210 $230 Q2'15 Q3'15 $B -1.1% -6.8% AUM Mix (9/30/15) ___________________________________________________________ AUM AUM by Affiliate $B % Total $66 32% 88 42% 7 3% 4 2% 28 13% 2 1% 14 7% Total $209 100% AUM AUM by Asset Class $B % Total U.S. Equity $75 36 Alternative, Real Estate & Timber 37 18 International Equity 34 16% Global Equity 28 13% Emerging Markets Equity 20 10% Fixed Income 15 7% Total $209 100%

 

│ 2015 Net Client Cash Flows and Revenue Impact 6 42 39 42 42 40 35 41 44 40 43 46 44 47 46 46 44 37 34 35 41 40 38 41 38 36 38 38 30 31 32 AUM Net Client Cash Flows (“NCCF”) Revenue Impact of NCCF(1) $B $M 2014 2012 2013 $10.5 $0.4 $9.5 2014 2012 2013 $42.5 $11.2 $54.5 2015 $(1.9) $25.5 $1.3 $(1.3) $0.3 $2.9 $3.4 $2.6 $1.7 $4.9 $(0.9) $5.5 $5.8 $6.1 $3.3 $3.9 $0.2 (1) Annualized revenue impact of net flows represents the difference between annualized management fees expected to be earned on new accounts and net assets contributed to existing accounts, less the annualized management fees lost on terminated accounts or net assets withdrawn from existing accounts, including equity-accounted Affiliates. Annualized revenue is calculated by multiplying the annual gross fee rate for the relevant account by the net assets gained in the account in the event of a positive flow or the net assets lost in the account in the event of an outflow. (2) Derived Average Weighted NCCF reflects the implied NCCF if annualized revenue represents asset flows at the weighted fee rate for OMAM overall (ie 34.5 bps in Q3’15). For example, NCCF annualized revenue impact of $0.7m divided by average weighted fee rate of OMAM’s overall AUM of 34.5 bps equals the derived average weighted NCCF of $0.2b. Bps inflows Bps outflows Derived Average Weighted NCCF ($b)(2) $1.2 $(1.4) $(1.0) $1.6 $3.0 $3.2 $1.0 $3.3 $(1.0) $3.6 $3.1 $3.8 $(0.2) $0.8 $(2.5) $(3) $(2) $(1) $- $1 $2 $3 $4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 $4.5 $(4.4) $1.1 $10.0 $11.6 $8.6 $5.8 $16.5 $(3.0) $18.4 $19.1 $20.0 $11.3 $13.5 $0.7 $(5) $- $5 $10 $15 $20 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 ___________________________________________________________

 

│ $(0.7) $(0.4) $(2.5) $(0.9) $(3.6) $3.2 $2.6 $1.8 $0.9 $1.3 $0.2 $0.3 $(0.2) $0.1 $(0.2) $0.4 $1.3 $0.7 $0.7 $0.0 $(4) $(3) $(2) $(1) $- $1 $2 $3 $4 $5 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Net Client Cash Flows Breakdown 7 AUM Net Client Cash Flows (“NCCF”) - by Asset Class Revenue Impact of NCCF - by Asset Class $B $M $3.1 $3.8 $(0.2) $0.8 $19.1 $20.0 $11.3 $13.5 Total NCCF Total Revenue Impact(2) (1) Average fee rate represents the average blended fee rate on overall assets for each asset class for the three months ended September 30, 2015. (2) Annualized revenue impact of net flows represents the difference between annualized management fees expected to be earned on new accounts and net assets contributed to existing accounts, less the annualized management fees lost on terminated accounts or net assets withdrawn from existing accounts, including equity-accounted Affiliates. Annualized revenue is calculated by multiplying the annual gross fee rate for the relevant account by the net assets gained in the account in the event of a positive flow or the net assets lost in the account in the event of an outflow. U.S. Equity Global/non-U.S. Equity Fixed Income Alternative, Real Estate & Timber Avg. Fee Rate (bps)(1) 21 41 26 44 ___________________________________________________________ $(2.5) $0.7 $(1.6) $(0.9) $(4.0) $(0.7) $(6.4) $18.6 $13.0 $10.7 $9.8 $5.6 $0.7 $0.1 $(0.6) $0.2 $(0.5) $1.4 $7.8 $5.2 $4.2 $2.0 $(10) $(5) $- $5 $10 $15 $20 $25 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015

 

│ Strong Long-Term Investment Performance 8 • OMAM uses revenue-weighted performance as its primary investment metric ‒ Ties investment performance to business performance ‒ Reflects percent of management fee revenue in products outperforming their benchmarks (1) • OMAM also uses equal-weighted performance as it considers earlier stage products that may grow to have significant impact • Asset-weighted performance is broadly used across the industry Commentary Equal-Weighted (>$100m) (2)(4)(6) Asset-Weighted (2)(5)(6) Revenue-Weighted (2)(3)(6) Products representing ≥ 80% of revenue outperforming on a 3- and 5-year basis ___________________________________________________________ (1) Excludes revenue in products which are not benchmarked; includes management fee revenue from equity-accounted Affiliates in the analysis. (2) Data as of September 30, 2015. (3) Revenue-Weighted: Calculates each strategy’s percentage weight by taking its estimated composite revenue over total composite revenues in each period, then sums the total percentage of strategies outperforming. (4) Equal-Weighted (>$100m): Each strategy over $100m has the same weight, then sums the total percentage of strategies outperforming. (5) Asset-Weighted: Calculates each strategy’s percentage weight by taking its composite AUM over total composite AUM in each period, then sums the total percentage of strategies outperforming. (6) Barrow Hanley’s Windsor II Large Cap Value account AUM and return are separated from Barrow Hanley’s Large Cap Value composite in revenue-weighted, equal-weighted and asset-weighted outperformance percentage calculations. % outperformance vs. benchmark % outperformance vs. benchmark % outperformance vs. benchmark 68% 84% 93% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 1-Year 3-Year 5-Year 70% 74% 89% 66% 70% 81% Q2'15 Q3'14 73% 82% 90% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 1-Year 3-Year 5-Year 64% 81% 88% 75% 80% 91% Q2'15 Q3'14 61% 75% 95% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 1-Year 3-Year 5-Year 61% 61% 80% 53% 57% 68% Q2'15 Q3'14

 

│ • Q3’15 Economic Net Income up 0.8% to $37.9 million from $37.6 million in Q3’14 ‒ Positive impact of higher management fees, partially offset by public company expense and increases in core general and administrative expenses • ENI Revenue increase of 4% to $166 million from $159 million in Q3’14 ‒ Flat average assets (excluding equity accounted Affiliates) drive a 4% rise in management fees to $158 million for Q3’15 ‒ Increase of Q3’15 asset yield to 33.3(1) bps driven by flows and market appreciation in higher yielding assets • Expense growth of 7% to $105 million from $98 million in Q3’14 impacted by sales based compensation and public company expense ‒ Core operating expenses up 7% to $53 million (excludes sales based compensation and public company expense) ‒ Variable compensation up 3% to $45 million, remaining steady at 42% of earnings before variable compensation ‒ Total public company expense (including operating and variable comp) of approximately $2.7 million in Q3 ‒ Key ENI expense ratios in line with expectations • ENI Operating margin (before Affiliate key employee distributions) of 36.7% slightly reduced from 38.1% in year ago quarter ‒ Public company expenses negatively impact operating margin by approximately 1.6% in Q3 • Adjusted EBITDA rises 4% to $53.3 million from $51.1 million in Q3’14 • Revolving credit facility debt of $70 million at September 30 represents 0.3x adjusted LTM EBITDA • S-3 shelf for $2 billion of securities filed November 4 ___________________________________________________________ Please see definitions and additional notes. (1) Excludes Equity-Accounted Affiliates. Financial Highlights – Q3 2015 9

 

│ $M Steady Results in a Volatile Market 10 $216 $218 $222 $227 $219 $25 $50 $75 $100 $125 $150 $175 $200 $225 $250 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 (1) ENI Revenue consists of management fees, performance fees, and other income, which primarily consists of earnings of our equity-accounted Affiliates. (2) ENI Operating Margin represents ENI operating margin before Affiliate key employee distributions. This is a non-GAAP efficiency measure, calculated based on earnings after variable compensation divided by ENI Revenue. (3) ENI per share is calculated as Economic Net Income divided by total diluted shares outstanding. ENI per share reflects pro forma shares outstanding in periods prior to Q4’14. (4) Includes Equity-Accounted Affiliates. (5) Excludes impact of extraordinary performance fee. Pre-tax ENI(5) Average AUM(4) ENI Revenue(1) (5) Fee Rate (Basis Points)(4) $B $M Performance Fees ENI Operating Margin(2) (5) ENI Per Share(3) % Change Q3’14 to Q3’15: 1% % Change Q3’14 to Q3’15: 4% $49 $63 $51 $52 $51 $0 $10 $20 $30 $40 $50 $60 $70 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 % Change Q3’14 to Q3’15: 3% 33.1 32.9 34.0 34.3 34.5 20.0 25.0 30.0 35.0 40.0 Q3'14 Q4'14 Q1'14 Q2'15 Q3'15 38% 41% 37% 38% 37% 0% 7% 14% 21% 28% 35% 42% Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 ___________________________________________________________ $0.31 $0.39 $0.31 $0.41 $0.31 $0.00 $0.10 $0.20 $0.30 $0.40 $0.50 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Extraordinary Performance Fee $156 $155 $160 $167 $163 $159 $184 $163 $168 $166 $0 $50 $100 $150 $200 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 % Change Q3’14 to Q3’15: 0% $0.32 $0.09

 

│ ___________________________________________________________ Key Drivers of Financial Performance 11 Economic Net Income (“ENI”) reflects the underlying economic earnings of the business (1) See Slide 18 for a reconciliation of GAAP to ENI. Moderate revenue growth: High quality, recurring management fees, impacted by volatile market Financial Highlights (1) Expense management: Investment in the business and public company expenses offset by scale in variable compensation Affiliate equitization complete: Benefit from repurchase of Affiliate equity in Q4’14 Lower tax rate: Estimated to be 27-30% 2 3 4 1 Q-O-Q P-O-P $M 2015 2014 2015 2014 Growth Growth Management fees $158.4 $152.3 $480.2 $437.9 4.0% 9.7% Performance fees 3.3 2.9 7.4 5.3 13.8% 39.6% Other income, incl. equity-accounted Affil iates 4.2 3.8 9.4 7.8 10.5% 20.5% Total ENI revenue 165.9 159.0 497.0 451.0 4.3% 10.2% Less: Total ENI operating expenses (60.2) (54.7) (180.8) (157.7) 10.1% 14.6% Earnings before variable compensation 105.7 104.3 316.2 293.3 1.3% 7.8% Less: Variable compensation (44.9) (43.7) (132.0) (123.9) 2.7% 6.5% Earnings after variable compensation 60.8 60.6 184.2 169.4 0.3% 8.7% Operating Margin 37% 38% 37% 38% Less: Affil iate key employee distributions (9.3) (11.1) (28.0) (28.7) -16.2% -2.4% Earnings after Affiliate key employee distributions 51.5 49.5 156.2 140.7 4.0% 11.0% Net interest (expens ) i come (0.5) - (2.0) 0.1 n/m n/m Pre-tax economic net i come 51.0 49.5 154.2 140.8 3.0% 9.5% Economic net income, excluding extraordinary performance fee $37.9 $37.6 $113.2 $104.3 0.8% 8.5% Nine Months EndedThree Months Ended September 30, September 30,

 

│ Increasing Management Fee Rate in Q3’15 Driven by Mix Shift in U.S. and Alternatives (1) 12 (1) Figures in parenthesis represent the percent of the total respective bar. (2) Equity-Accounted Affiliates’ net revenue included in other income. 1 $216 $219 $0 $50 $100 $150 $200 $250 Q3 2014 Q3 2015 Gross Management Fee Revenue by Asset Class Average AUM and Fee Rate by Asset Class $180 $190 $0 $50 $100 $150 $200 Q3 2014 Q3 2015 $M 17% -5% 2% 5% U.S. Equity Global/non-U.S. Equity Fixed Income Alternative, Real Estate & Timber Avg. Fee Rate (bps) $B Avg. AUM % Change 11% 1% 4% -5% % Change Avg. AUM: Less: Equity Accounted Affiliates: Avg. AUM excl. Equity Accounted Affiliates: $(27.5) $(30.1) $216.0 $218.6 $188.5 $188.5 Gross Mgmt. Fee Revenue: Less: Revenue from Equity Accounted Affiliates (2): Revenue excl. Equity Accounted Affiliates (ENI Mgmt Fee Revenue): $(27.8) $(31.6) $180.1 $190.0 $152.3 $158.4 24 42 22 42 26 41 21 44 % Change: 1% % Change: 5% $80.8 (37%) $83.5 (39%) $86.9 (40%) $14.7 (7%) $14.8 (7%) $32.5 (15%) $36.1 (16%) $52.9 (28%) $87.4 (49%) $89.5 (47%) $8.1 (4%) $7.7 (4%) $34.0 (19%) $39.9 (21%) $50.6 (28%) $85.3 (39%) 33.1 34.5 ___________________________________________________________

 

│ • Total ENI operating expenses reflect Affiliate operating expenses, Center expenses including public company expenses, and key initiatives, including Global Distribution (excluding variable compensation) • Q3’15 core operating expense grew approximately 7% v. Q3’14, reflecting increases in head-count at the Affiliates • Public company operating expense of $1.8 million in Q3’15 likely to approximate +$6 million annual level in 2015 Core Expense Growth Reflects Investment in the Business 13 2 (1) Represents Management Fee Revenue. Total ENI Operating Expenses Commentary (1) (1) ___________________________________________________________ (1) (1) Q-O-Q P-O-P $M % of MFs $M % of MFs 2015 vs. 2014 $M % of MFs $M % of MFs 2015 vs. 2014 Fix d compe sation and benefits $32.4 20.5% $29.0 19.0% 11.7% $96.8 20.2% $88.5 20.2% 9.4% G&A expenses (excl. sales based compensation) 19.1 12.1% 19.4 12.7% (1.5%) 58.8 12.2% 53.6 12.2% 9.7% Depreciation and amortization 1.8 1.1% 1.6 1.1% 12.5% 5.0 1.0% 4.4 1.0% 13.6% Core operating expense subtotal $53.3 33.6% $50.0 32.8% 6.6% $160.6 33.4% $146.5 33.5% 9.6% Sales based compensation 5.1 3.2% 4.7 3.1% 8.5% 15.0 3.1% 11.2 2.6% 33.9% Public company operating expenses 1.8 1.1% - - N/A 5.2 1.1% - - N/A Total ENI operating expenses $60.2 38.0% $54.7 35.9% 10.1% $180.8 37.7% $157.7 36.0% 14.6% 9/30/2015 9/30/2014 9/30/2015 9/30/2014 Three Months Ended Nine Months Ended

 

│ • Variable compensation typically awarded based on contractual percentage (e.g., ~25 – 30%) of each Affiliate’s ENI earnings before variable compensation, plus Center bonuses ‒ Affiliate variable compensation includes cash and equity provided through recycling ‒ Center variable compensation includes cash and OMAM equity • Slightly higher Q3’15 Variable Compensation Ratio v. Q3’14 reflects enhanced scale at Center and certain Affiliates, offset by public company related variable compensation • Public company related variable compensation of approximately $0.9 million in Q3; likely to have a full-year 2015 impact of approximately $3 million related to new hires and 2015 – 2017 LTIP Variable Compensation Aligned With Business Performance 14 3 Please see definitions and additional notes. Variable Compensation Commentary ___________________________________________________________ Q-O-Q P-O-P $M 9/30/2015 9/30/2014 2015 vs. 2014 9/30/2015 9/30/2014 2015 vs. 2014 Ca h variable compensation $38.9 $39.4 (1.3%) $115.2 $110.9 3.9% Add: Non-cash equity-based award amortization 6.0 4.3 39.5% 16.8 13.0 29.2% Vari ble compensation $44.9 $43.7 2.7% $132.0 $123.9 6.5% Earnings before variable compensation $105.7 $104.3 1.3% $316.2 $293.3 7.8% Variable Compensation Ratio (VC as % of earnings before variable comp.) 42.5% 41.9% 58 bps 41.7% 42.2% -50 bps Note: Public company related variable compensation (included above): 0.9 - N/A 2.2 - N/A Three Months Ended Nine Months Ended

 

│ • Represents employees’ share of profit from their respective Affiliates, ranging from 15 – 35%, in some cases following an initial preference to OMAM(1) • Employee ownership levels projected to remain stable following the purchase and sale of certain Affiliate equity positions in 2014 • Employee distributions as a percentage of earnings after variable compensation below expectations due to mix of performance fees; full year ratio expected to be approximately 15% ___________________________________________________________ Affiliate Key Employee Distributions Typically Will Grow In-Line With the Business 15 4 (1) For consolidated Affiliates. Affiliate Key Employee Distributions Commentary B A ( / ) AB Q-O-Q P-O-P $M 9/30/2015 9/30/2014 2015 vs. 2014 9/30/2015 9/30/2014 2015 vs. 2014 Earnings after variable compensation $60.8 $60.6 0.3% $184.2 $169.4 8.7% Less: Affiliate key employee distributions (9.3) (11.1) (16.2%) (28.0) (28.7) (2.4%) Earnings after Affiliate key employee distributions $51.5 $49.5 4.0% $156.2 $140.7 11.0% 15.3% 18.3% -302 bps 15.2% 16.9% -174 bps Affiliate key employee distributions as % of earnings after variable comp. ("Distribution Ratio") Nine Months EndedThree Months Ended

 

│ • In the nine months ended 2015, repaid $37 million Notes payable to related parties and $107 million drawn on revolving credit facility • $70 million currently drawn on OMAM’s $350 million revolving credit facility • Leverage ratio (Debt / EBITDA) of 0.3x well below 3.0x covenant limit • $143 million seed capital pool provided by Old Mutual plc—off balance sheet to OMAM • $0.08 per share interim dividend approved • Payable December 29 to shareholders of record as of December 11 • Reflects 25% payout rate • Dividends expected to be paid at the end of each quarter ($M ) September 30, 2015 (U.S. GAAP) Excluding Consolidated Funds (Non-GAAP) Including Consolidated Funds (U.S. GAAP) Assets Cash and cash equivalents 126.8$ 175.6$ 175.6$ Investment advisory fees receivable 145.3 165.1 161.1 Investments 152.2 149.3 149.3 Other assets 487.6 503.2 503.2 Assets of Consolidated Funds - - 6,783.7 Total assets 911.9$ 993.2$ 7,772.9$ Liabilities and shareholders' equity Accounts payable and accrued expenses 160.1$ 171.6$ 171.6$ Due to related parties 239.9 289.9 289.9 Notes payable to related parties - 37.0 37.0 Third party borrowings 70.0 177.0 177.0 Other l iabilities 317.7 281.2 281.2 Liabilities of Consolidated Funds - - 4,258.8 Total liabilities 787.7 956.7 5,215.5 Total equity 124.2 36.5 2,557.4 Total liabilities and equity 911.9$ 993.2$ 7,772.9$ Shares outstanding: Basic 120.0 120.0 120.0 Diluted(1) 120.5 120.0 120.0 December 31, 2014 Balance Sheet Can Be Leveraged To Grow Business 16 Dividend • New fund consolidation guidance adopted by OMAM in 2015 results in removal of Consolidated Funds from GAAP balance sheet and income statement ___________________________________________________________ Please see definitions and additional notes. (1) Diluted shares expected to be approximately 120.5 million for Q4 2015, assuming no issuance of primary equity. Balance Sheet Capital

 

Appendix 17

 

│ $m 2015 2014 2015 2014 U.S. GAAP net income attributable to controlling interests $35.0 ($1.7) $118.6 $17.4 Adjustments for restructuring & reorganization related to IPO: i. Non-cash notional parent corporate cost allocation - 1.8 - 3.4 ii. Intercompany interest expense - 16.6 - 49.8 iii. Co-investment (gain) - (0.5) - (2.6) Total restructuring and reorganization adjustments $0.0 $17.9 $0.0 $50.6 Adjustments to reflect the economic earnings of the Company: iv. Non-cash Key employee-owned equity and profit interest revaluations 2.7 40.2 14.0 57.1 v. Amortization of goodwill and acquired intangibles - - 0.1 0.1 vii. Capital transaction costs 1.6 - 1.6 - viii. Discontinued operations and restructuring costs (1.0) (0.9) (1.9) 5.4 Total adjustment to reflect earnings of the Company $3.3 $39.3 $13.8 $62.6 Less: Tax effect of above adjustments (1.7) (16.2) (6.3) (22.8) Less: ENI tax normalization 1.3 (1.7) (1.5) (3.5) Economic net income (including extraordinary performance fee) $37.9 $37.6 $124.6 $104.3 Extraordinary performance fee - - (11.4) - Economic net income excluding extraordinary performance fee $37.9 $37.6 $113.2 $104.3 Net interest (income) expense 0.5 - 2.0 (0.1) Depreciation and amortization 1.8 1.6 5.0 4.4 Tax on Economic Net Income 13.1 11.9 41.0 36.5 Adjusted EBITDA excluding extraordinary performance fee $53.3 $51.1 $161.2 $145.1 September 30, Three Months Ended Nine Months Ended September 30, i. Exclude notional non-cash corporate cost allocations ii. Exclude interest expense historically paid to OM plc as the related debt was restructured in connection with the Offering and thereafter has been eliminated from consolidated results iii. Exclude historical mark-to-market co-investment gains and losses as co-investments and ongoing returns have been wholly allocated to OM plc in connection with the Offering v. Exclude non-cash expenses representing changes in the value of Affiliate equity and profit interests held by Affiliate key employees vi. Exclude amortization or impairment expenses related to acquired goodwill and other intangibles as they represent non-cash charges that do not result in an outflow of tangible economic benefits from the business vii. Exclude capital transaction costs viii. Exclude results of discontinued operations attributable to controlling interests as they are not part of the ongoing business, and restructuring costs incurred in continuing operations which represent an exit from a distinct product or line of business ix. Exclude one-off tax benefits or costs unrelated to current operations Reconciliation: GAAP to ENI and Adjusted EBITDA 18 (1) Tax-affected items for which adjustments are included in “Tax effect of above adjustments” line; taxed at 40.2% U.S. statutory rate (including state tax). (2) Includes $31.6 million related to the purchase of additional ownership interests in an Affiliate. 1 2 4 5 6 ENI Adjustments 1 2 3 4 5 6 7 8 (1) (1) (1) (1) ___________________________________________________________ 3 8 7 (1) (2) (2)

 

│ Definitions and Additional Notes 19 References to “OMAM” or the “Company” refer to OM Asset Management plc; references to the “Parent” or “Old Mutual” refer to Old Mutual plc; references to the “Offering” refer to the Company’s initial public offering dated October 8, 2014 and references to the “Prospectus” refer to the Company’s Prospectus dated as of that date; references to the “Reorganization” refer to the steps taken by OMAM’s Parent prior to the Offering to reorganize the ownership of the business, as described in the Company’s Prospectus. Economic Net Income The Company uses a non-GAAP performance measure referred to as economic net income (“ENI”) to represent its view of the underlying economic earnings of the business. ENI is used to make resource allocation decisions, determine appropriate levels of investment or dividend payout, manage balance sheet leverage, determine Affiliate variable compensation and equity distributions, and incentivize management. The Company’s ENI adjustments to U.S. GAAP include both reclassifications of U.S. GAAP revenue and expense items, as well as adjustments to U.S. GAAP results, primarily to exclude non-cash, non-economic expenses, or to reflect cash benefits not recognized under U.S. GAAP. The Company re-categorizes certain line items on the income statement to: • exclude the effect of Fund consolidation by removing the portion of Fund revenues, expenses and investment return which is not attributable to its shareholders; • include within management fee revenue any fees paid to Affiliates by Consolidated Funds, which are viewed as investment income under U.S. GAAP; • include the Company’s share of earnings from equity-accounted Affiliates within other income, rather than investment income; • treat sales-based compensation as a general and administrative expense, rather than part of fixed compensation and benefits; • identify separately, the fixed and variable components of compensation and benefits expense; and • identify separately as Affiliate distributions the component of U.S. GAAP compensation that represents earnings shared with Affiliate key employee equity and profit-interest holders. To reflect the Reorganization which took place at the time of the Offering, the Company has excluded: i. notional corporate cost allocations which are non-cash expenses that will not recur following the Offering; ii. interest expense historically paid to the Parent, as the related debt was restructured in connection with the Offering and has been eliminated from consolidated results; and iii. historic mark-to-market co-investment gains and losses, because these investments and ongoing returns thereon have been allocated wholly to Old Mutual plc in connection with the Offering. The Company also makes the following adjustments to U.S. GAAP results to more closely reflect its economic results by excluding: iv. non-cash expenses representing changes in the value of Affiliate equity and profit interests held by Affiliate key employees. These ownerships interests may in certain circumstances be repurchased by OMAM at a value based on a pre-determined fixed multiple of trailing earnings and as such this value is carried on the Company’s balance sheet as a liability. Non-cash movements in the value of this liability are treated as compensation expense under U.S. GAAP. However, any equity or profit interests repurchased by OMAM can be used to fund a portion of future variable compensation awards, resulting in savings in cash variable compensation that offset the negative cash effect of repurchasing the equity. v. non-cash amortization or impairment expenses related to acquired goodwill and other intangibles as these are non-cash charges that do not result in an outflow of tangible economic benefits from the business. vi. capital transaction costs, including the costs of raising debt or equity, gains or losses realized as a result of redeeming debt or equity and direct incremental costs associated with acquisitions of businesses or assets. vii. the results of discontinued operations attributable to controlling interests since they are not part of the Company’s ongoing business, and restructuring costs incurred in continuing operations which represent an exit from a distinct product or line of business. viii. deferred tax resulting from changes in tax law and expiration of statutes, adjustments for uncertain tax positions, deferred tax attributable to intangible assets and other unusual items not related to current operating results to reflect ENI tax normalization. The Company adjusts its income tax expense to reflect any tax impact of its ENI adjustments. Please see Slide 18 for a reconciliation of net income attributable to controlling interests to economic net income. Adjusted EBITDA Adjusted EBITDA is defined as economic net income before interest, income taxes, depreciation and amortization. The Company notes that its calculation of Adjusted EBITDA may not be consistent with Adjusted EBITDA as calculated by other companies. The Company believes Adjusted EBITDA is a useful liquidity metric because it indicates the Company’s ability to make further investments in its business, service debt and meet working capital requirements. Please see Slide 18 for a reconciliation of economic net income to Adjusted EBITDA.

 

│ Definitions and Additional Notes 20 Methodologies for calculating investment performance: Revenue-weighted investment performance measures the percentage of management fee revenue generated by Affiliate strategies which are beating benchmarks. It calculates each strategy’s percentage weight by taking its estimated composite revenue over total composite revenues in each period, then sums the total percentage of revenue for strategies outperforming. Equal-weighted investment performance measures the percentage of Affiliates’ scale strategies (defined as strategies with greater than $100 million of AUM) beating benchmarks. Each outperforming strategy over $100 million has the same weight; the calculation sums the number of strategies outperforming relative to the total number of composites over $100 million. Asset-weighted investment performance measures the percentage of AUM in strategies beating benchmarks. It calculates each strategy’s percentage weight by taking its composite AUM over total composite AUM in each period, then sums the total percentage of AUM for strategies outperforming. ENI Operating Margin before Affiliate key employee distributions ENI operating margin before Affiliate key employee distributions is a non-GAAP efficiency measure, calculated based on earnings after variable compensation divided by ENI revenue. ENI Operating Margin after Affiliate key employee distributions ENI operating margin after Affiliate key employee distributions is a non-GAAP efficiency measure, calculated based on earnings after Affiliate key employee distributions, divided by ENI revenue. U.S. GAAP operating margin U.S. GAAP operating margin equals operating income (loss) from continuing operations divided by total revenue. Consolidated Funds Prior to January 1, 2015, financial information presented in accordance with U.S. GAAP includes the results of consolidated pooled investment vehicles, or Funds, managed by our Affiliates, where it has been determined that these entities are controlled by the Company. Financial results which are “attributable to controlling interests” exclude the impact of Funds which are not attributable to our shareholders. Annualized Revenue Impact of Net Flows (NCCF) Annualized revenue impact of net flows represents the difference between annualized management fees expected to be earned on new accounts and net assets contributed to existing accounts, less the annualized management fees lost on terminated accounts or net assets withdrawn from existing accounts, including equity-accounted Affiliates. Annualized revenue is calculated by multiplying the annual gross fee rate for the relevant account by the net assets gained in the account in the event of a positive flow or the net assets lost in the account in the event of an outflow. Hard asset disposals Net flows include hard asset disposals made by OMAM’s Affiliates. This category is made up of investment-driven asset dispositions made by Heitman, a real estate manager, or Campbell, a timber manager. Derived Average Weighted NCCF Derived Average Weighted NCCF reflects the implied NCCF if annualized revenue represents asset flows at the weighted fee rate for OMAM overall (ie 34.5bps in Q3’15). For example, NCCF annualized revenue impact of $0.7m divided by average weighted fee rate of OMAM’s overall AUM of 34.5bps equals the derived average weighted NCCF of $0.2b.