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Artio Global Investors Reports Third Quarter 2012 Results; Announces Dividend Of $0.02 Per Share

Shareholder Servicing and Marketing Expenses

Shareholder servicing and marketing expenses for the third quarter of 2012 were $2.6 million, a decrease of 14% from $3.0 million for the second quarter of 2012, due primarily to lower platform costs, reflecting a decrease in average assets under management in proprietary funds.

General and Administrative Expenses

Adjusted general and administrative expenses were $8.7 million for the third quarter of 2012, an increase of 12% from $7.7 million for the second quarter of 2012, due primarily to higher professional fees.

GAAP general and administrative expenses were $10.3 million for the third quarter of 2012, an increase of 33% from $7.7 million for the second quarter of 2012, due primarily to the offshore fund expense and the reason noted above.

Non-operating Income (Loss)

Adjusted non-operating income for the third quarter of 2012 was $2.4 million, up from adjusted non-operating loss of $1.2 million for the second quarter of 2012, primarily reflecting gains on seed capital investments in the third quarter of 2012, as compared to losses in the second quarter of 2012.

GAAP non-operating income for the third quarter of 2012 was $144.2 million, up from GAAP non-operating loss of $1.4 million for the second quarter of 2012 due primarily to a reduction in amounts payable under the tax receivable agreement, which is associated with the valuation allowance on the Company’s deferred tax assets and the reason noted above.

Income Taxes

For the third quarter of 2012, adjusted income tax benefit was $0.3 million, compared to adjusted income tax expense of $0.9 million in the second quarter of 2012. The decrease was due primarily to a true-up to reflect the finalization of the prior year’s tax return.

GAAP income tax expense for the third quarter of 2012 was $171.6 million, compared to GAAP income tax benefit of $0.3 million for the second quarter of 2012, due primarily to a valuation allowance on the Company’s deferred tax assets and a write-off of deferred tax assets related to the vesting of RSUs granted at the time of the IPO, at a price below their grant date fair value in the third quarter of 2012.

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