From the ASX Announcement 18/2/22

"Magellan Financial Group Limited (“Magellan” or the “Group”) Interim results for the period ended 31 December 2021 • Profit before tax and performance fees of the Funds Management business up 15% to $293.6 million • Adjusted net profit after tax up 16% to $248.1 million • Interim dividend up 13% to 110.1 cents per share"

Capital Management.

Intention to progress with a 1-for-8 bonus issue of options to Magellan shareholders:

o Exercise price $35 per option;

o 5 year term – exercisable at any time until expiry;

o Prospectus expected to be lodged in March 2022;

o An application will be made with ASX to have the options quoted on ASX;

• Intention to progress with an issue of approximately 10 million unlisted options to Magellan staff ($35 exercise price, 5 year term) as part of a staff retention programme;

• Considering the implementation of an on-market share buy-back, subject to various factors including market conditions;

• Confirming the dividend policy of 90-95% payout of the profit after tax of the Group’s Funds Management Business;

• Suspending the dividend reinvestment plan; and • No plans to make further investments via Magellan Capital Partners.