WESTWOOD HOLDINGS GROUP INC Q4 FY2024 earnings call

• Distribution channel: Institutional team won and funded eight mandates totaling over $600 million last year, a 100% increase from the prior year; SMidCap strategies had new institutional flows and growth in SMid CIT vehicle. • ETF success: Launched two active ETFs in midstream and broad energy space; Westwood Salient Enhanced Midstream Income ETF (MDST) reached $73 million in assets by year-end; expanded ETF platform with two new products via Westwood-Engineered Beta (WEBs) partnership with Ben Fulton. • Strategic growth: Completed build-out of managed investment solutions platform; Energy Secondaries Fund performing as expected; exploring additional investment vehicles. • Market performance: S&P 500 gained 25% in 2024, marking the best back-to-back performances since 1997-1998; growth stocks outperformed value stocks. • Distribution details: Institutional team exceeded $1 billion annual growth sales goal; intermediary channel had net outflows but MDST reached $73 million in assets; wealth management had net flows uptick in 4Q. • Technology: Launched new client portal at year-end; implemented comprehensive client relationship management system. • Salient acquisition: Two-year anniversary of acquisition; enhanced capabilities in energy and real estate income strategies; launched two new ETFs leveraging combined teams. • Partnership: Formed WEBs Investments Incorporated; launched two new ETFs with defined volatility strategy. • Share buyback: Bought back 108,225 shares for approximately $1.34 million in the past year.

Total revenues for the fourth quarter of 2024 were $25.6 million, compared to $23.7 million in the third quarter and $23.2 million in the prior year's fourth quarter. For fiscal 2024, total revenues amounted to $94.7 million, up from $89.8 million in 2023. Firmwide assets under management and advisement totaled $17.6 billion at quarter-end. Assets under management consisted of institutional assets of $8.3 billion (50% of the total), wealth management assets of $4.4 billion (26% of the total), and mutual fund assets of $3.9 billion (24% of the total). Over the year, assets under management had net outflows of $0.8 billion but market appreciation of $1.9 billion, while assets under advisement had net outflows of $211 million and market appreciation of $92 million.

• Cautiously optimistic outlook with benign credit conditions, attractive equity valuations, and accommodative federal policy. • Managed Investment Solutions: Promising client conversations underway, expect to onboard first MIS client in first half of 2025. • ETF initiative: Continued momentum with WEBs partnership and potential for more ETF launches.

• Forward-looking statements subject to known and unknown risks, uncertainties, and other factors that may cause actual results to materially differ from contemplated; additional information regarding such factors is in the press release issued earlier today and in the Form 10-K for the year ended December 31, 2024.