AMP (AMP) Investor Update summary

Strategic Repositioning and Market Positioning

• Business has been simplified, costs reduced, and a stable executive team established, focusing on Australian wealth management and retirement solutions.

• Portfolio simplification completed, with 75% of operating profit from platforms and S&I businesses.

• Emphasizes a challenger mindset, leveraging technology, partnerships, and agility to capture retirement market opportunities.

• Holds significant equity stakes in China Life Pension Company and China Life AMP Asset Management, providing international exposure.

• Maintains a strong balance sheet, enabling exploration of new growth opportunities.

Retirement Solutions and Product Innovation

• MyNorth Lifetime and Lifetime Super combine account-based pension flexibility with annuity-like income, offering up to 60% higher retirement income and Centrelink advantages.

• Lifetime Super feature automatically applied to 141,000–140,000 members, with a new Lifetime Pension product launching in 2026.

• Digital advice tools and calculators have driven a 12x increase in member engagement for retirement planning.

• Unique capital guarantees and digital advice tools enhance client engagement and retention.

• Significant tailwinds from demographic shifts and $750 billion in assets moving into retirement phase by 2030.

Platforms, Adviser Enablement, and Cash Flow Momentum

• North Platform is the third largest in super and pension, managing $83.2bn in FUA, $21.8bn in managed portfolios, and serving 232,000 clients.

• Adviser base is growing, with 4,211 active advice relationships and high adviser retention rates.

• Adviser network expansion, new business manager roles, and CRM investments are driving increased net cash flows and adviser productivity.

• Net cash flows in North Platform up 99% YoY in H1 2025, with AMP Super achieving positive net cash flows in Q2 for the first time since 2017.

• Corporate super new members grew 17% YoY, with payroll partnerships supporting acquisition and retention.