1. Think of it as a boutique Goldman Sachs Private Wealth Management for ultra-high net worth families.

2. An independent J.P. Morgan Private Bank serving multi-million dollar individuals and families.

• Financial Advisory Services: Provides strategic financial guidance to ultra-high net worth individuals, families, and institutional investors.
• Family Office Services: Offers specialized, comprehensive services catering to the complex needs of ultra-high net worth individuals and families.
• Investment Fund Management: Manages various pooled investment vehicles, including funds of funds, for their client base.

Silvercrest Asset Management Group Inc. (SAMG) provides financial advisory and related family office services primarily to the following categories of customers:

• Ultra-high net worth individuals and families, as well as their trusts
• Endowments and foundations
• Other institutional investors

Richard R. Hough III, Chairman and Chief Executive Officer

Mr. Hough joined Silvercrest in 2003 and became a partner in 2006. He served on the firm's Executive Committee since 2007, focusing on marketing and corporate strategy and development, and was President and Chief Operating Officer from 2010-2013. He was named CEO in November 2013, succeeding co-founder G. Moffett Cochran. Prior to Silvercrest, Mr. Hough worked as a policy analyst and was the founding national program director of Children's Scholarship Fund. He was a crucial part of Silvercrest's founding team, contributing expertise in policy analysis, non-profit development, and shaping early alternative investment strategies. He also serves as chairman of the board of the Institute for Family Studies and on the boards of the Calvin Coolidge Presidential Foundation, New York Men's Leadership Forum, Christendom College, Boy Scouts of America, and the advisory board of The New Criterion.

Scott A. Gerard, Chief Financial Officer

Mr. Gerard has served as Chief Financial Officer of Silvercrest since 2010. Before joining Silvercrest, he was Chief Financial Officer of Brand Connections, LLC, a private equity-backed marketing and media company, from December 2008 through November 2009. Previously, he served as Chief Financial Officer of Guideline, Inc., a publicly-held business research firm. His earlier career includes a role as Division Controller with Citigroup Inc. and beginning his career with KPMG LLP. Mr. Gerard is a Certified Public Accountant.

David J. Campbell, General Counsel and Secretary

Mr. Campbell joined Silvercrest from Jefferies & Company, Inc., where he held the position of Managing Director and Associate General Counsel, providing support to the Equities, Fixed Income, and Operations groups. His career began at Donaldson, Lufkin & Jenrette Securities Corporation as a Senior Vice President, where he advised DLJ's Pershing Division, Investment Services Group, and DLJdirect. Later, he became a partner at the law firm of Bressler, Amery & Ross, P.C., specializing in various securities matters.

Albert S. Messina, Member of the Board of Directors and Executive Committee

Mr. Messina was a founding member of Silvercrest Asset Management, joining as a Managing Director and portfolio manager for equity and fixed income portfolios. Before Silvercrest, he was a Managing Director at Credit Suisse Asset Management, a position he assumed following Credit Suisse's merger with Donaldson, Lufkin & Jenrette (DLJ), where he had worked since 1983. He also spent 14 years at Bankers Trust Company, where he advised private clients and oversaw the Tax Services Division of the fiduciary department.

J. Allen Gray, Managing Director and Head of Institutional Business

Prior to his role at Silvercrest, Mr. Gray served as a Managing Partner and a Member of the Management Committee of Osprey Partners Investment Management, LLC, and as President of the Osprey Concentrated Large Cap Value Equity Fund. Before Osprey Partners, he was a Managing Director at Radnor Capital Management, a start-up investment firm, where he was responsible for sales, marketing, and client relations. He started his career at Kidder, Peabody & Co. as a financial advisor and later served as Vice President for institutional equity sales and a financial advisor at Wheat, First Securities, Inc.

1. Market Volatility: Silvercrest Asset Management Group's revenue is intrinsically tied to the market value of its assets under management (AUM). Market downturns or instability can directly reduce AUM, leading to a corresponding decrease in fee-based revenues and potentially impacting short-term financial results and top-line growth. The firm's financial performance is subject to the inherent risks of the asset management industry, where a significant market downturn could negatively impact its AUM.
2. Client Retention and Net Flows: As Silvercrest serves ultra-high-net-worth individuals and families, as well as institutional investors, its overall client base can be concentrated. Client retention is critical, as negative net flows can offset positive market appreciation and affect overall AUM growth. If key clients were to depart or withdraw assets, the impact on the firm's revenues could be material.
3. Competitive Landscape and Fee Compression: The wealth management sector is highly competitive, with both established firms and new entrants vying for high-net-worth clients. This intensified competition can lead to pricing pressure from competitors, potentially compressing advisory and platform fees. A shift in asset mix towards lower-fee institutional mandates can also contribute to a decrease in the average annual management fee rate, threatening margin expansion and slowing top-line growth.

Silvercrest Asset Management Group Inc. (SAMG) serves ultra-high net worth individuals and families, their trusts, endowments, foundations, and other institutional investors in the United States, offering financial advisory, wealth management, and family office services. The addressable markets for these services in the U.S. are substantial.

For ultra-high net worth (UHNW) clients, the investable assets held by this demographic represent a significant addressable market. In 2024, UHNW investors in the U.S. held more than $22.5 trillion in investable assets.

For institutional investors, the assets under management (AUM) by such entities in the U.S. indicate the market size for institutional asset management services. By 2023, institutional investors, including government pension funds and private endowments in the U.S., were responsible for over USD 55 trillion in assets under management.

The family office services market in the U.S., which includes financial planning, tax planning, and consolidated wealth reporting, is also a key addressable market for Silvercrest. The global family office market size was valued at USD 20.13 billion in 2025. North America held a 47.67% share of this market in 2025, with the U.S. accounting for approximately 94% of the total North American family offices market. Based on these figures, the estimated addressable market for family office services in the U.S. in 2025 is approximately USD 9.00 billion.

Silvercrest Asset Management (SAMG) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market factors:

1. Organic Growth through New Client Acquisition: The company is focused on securing significant organic client inflows, particularly within the institutional segment. Silvercrest has a robust new business pipeline and anticipates strong organic flows in 2025 and 2026. For example, the firm reported strong new client organic flows of $0.4 billion in Q1 2025, building on $1.4 billion in Q4 2024.
2. Market Appreciation of Assets Under Management (AUM): As a wealth management firm, Silvercrest's revenue is directly influenced by the market value of its Assets Under Management. Increases in AUM due to market appreciation are a key driver for revenue growth.
3. Expansion into New Markets and Services: Silvercrest is actively pursuing international expansion and seeking to diversify its wealth management services and offerings. This includes investing in talent and business development to target global and institutional markets.
4. Strategic Investments in Intellectual Capital and Headcount: The company is making strategic investments in talent, business development, and new strategies to promote growth and enhance financial performance. These investments are expected to contribute to future growth and a return to higher profitability over an 18-24 month horizon.
5. Growth in Family Office Services: Revenue from family office services has shown strong growth, increasing 17.6% for the quarter and 8.2% for the nine months ended Q3 2025, indicating this as a growing segment for the company.

Share Repurchases

• Silvercrest Asset Management's Board of Directors authorized a common stock repurchase program of up to $25.0 million on May 23, 2025. Approximately $16 million worth of shares were repurchased under this program as of September 30, 2025.
• On August 20, 2024, the company's board approved a share repurchase program authorizing the company to repurchase up to $12 million worth of shares over the subsequent 12 months.
• A $15.0 million share repurchase program was approved on July 29, 2021. As of June 30, 2024, Silvercrest purchased $15.06 million worth of common stock under this program.

Share Issuance

• The company reported no significant net issuance of preferred stock as of September 2025 and for the trailing twelve months ending in September 2025.
• In 2022, Silvercrest issued common stock for services or in consideration, including 2,500,000 shares for $250 in January, 167,500 shares for $3,350 in July, and 625,250 shares for $12,505 in October.
• Additional common shares were issued in 2023 for consideration: 275,000 shares for $5,500 in January and 65,000 shares for $1,300 in April.

Outbound Investments

• Silvercrest undertook new strategic investments in 2024 to drive growth, including investing in talent and building a new Global Value Equity strategy.
• In Q4 2024, the new Global Value Equity strategy secured a significant seed investment of $1.3 billion.
• The company's growth strategy includes targeted acquisitions and expanding its presence through new business development and market leads in locations such as Atlanta and Singapore.

Capital Expenditures

• For the nine months ended September 30, 2025, capital expenditures for the acquisition of furniture, equipment, and leasehold improvements amounted to $1.681 million.
• For the nine months ended September 30, 2024, capital expenditures for the acquisition of furniture, equipment, and leasehold improvements totaled $1.337 million.