What really drives an investment decision and what happens before a trade ever reaches your portfolio?

L&G’s Francis Chua, Fund Manager, and Chris Franklin, Investment Specialist in our Asset Allocation team take us behind the scenes to unpack what the decision-making process actually looks like in practice. The discussion moves beyond models and market headlines to explore how views are formed, challenged and, at times, left
unresolved.

From the first signal, whether new data, market dislocation or a divergence in views, through to scenario analysis and portfolio positioning, the conversation highlights a process shaped less by prediction and more by preparation.
Along the way, the team examine how disagreement sharpens outcomes, how conviction is expressed through sizing, and why “no action” can still be a deliberate choice.
They also unpack the role of external perspectives, the importance of structured debate, and how behavioural biases are identified and managed in real time.

This podcast is hosted by Sarka Halas, Content Manager, and was recorded on 19 May 2026.

For professional investors only. Capital at risk. Risk management cannot fully eliminate the risk of investment loss. It should be noted that diversification is no guarantee against a loss in a declining market.

For illustrative purposes only. Reference to a particular security is on a historic basis and does not mean that the security is currently held or will be held within an L&G portfolio. The above information does not constitute a recommendation to buy or sell any security

On this week’s episode of L&G Talks Asset Management, we sit down
with Achal Arora, Managing Director of Digital Infrastructure
Investments.

With digital infrastructure increasingly being seen as critical to
modern economies, Achal runs down some of the ongoing trends in the
sector and how investors should understand present dynamics.

Among topics discussed are the influence of artificial intelligence,
reasons for a current focus on data centres and why clean power
infrastructure and digital infrastructure are converging.

This podcast was moderated by Nick Jardine, Content Manager and was
recorded on 20 May, 2026.

Assumptions, opinions and estimates are provided for illustrative
purposes only. There is no guarantee that any forecast will come to
pass.

What is meant by the term ‘systematic solutions’? Why are they increasingly important for investors? And how is AI changing the way they are constructed?

In this podcast we hear from three key members of L&G’s systematic solutions capability to discover the answers to these questions. Our speakers are:

• Elena Cardella, Head of Index & ETFs Investment Specialists
• Boyang Liu, Head of Systematic Solutions
• Raj Shah, Senior Quant & Factor Strategist - Index Solutions.

This podcast was recorded on 15 May 2026 and is hosted by Luka Lukic, Product Proposals Specialist.

For illustrative purposes only. Reference to a particular security is on a historic basis and does not mean that the security is currently held or will be held within an L&G portfolio. The above information does not constitute a recommendation to buy or sell any security.

L&G AUM figures as at 31 December 2025. Excludes assets managed by associates (Pemberton, NTR, BTR). The AUM includes the value of securities and derivatives positions and may not total due to rounding.

Money illusion is one of the most common behavioural biases and with nearly £30 billion held in cash, are UK charities assuming that the most cautious investment is also the safest choice?

L&G’s Nancy Kilpatrick, Head of Charities and Andrzej Pioch, Fund Manager and the Head of Risk Targeted Funds explore the risks that may be hiding in plain sight: the risk of holding too much cash, what that actually costs charities and how Trustees could be thinking about their investments.

They discuss:

• The scale and risks of the cash challenge
• Practical first steps that Trustees can take to put their reserves to work
• How recent volatility and macro events have highlighted potential concentration risk

This podcast is hosted by Sarka Halas, Content Manager, and was recorded on 30 March 2026.

For professional investors only. Capital at risk. Risk management cannot fully eliminate the risk of investment loss. It should be noted that diversification is no guarantee against a loss
in a declining market.

For illustrative purposes only. Reference to a particular security is on a historic basis and does not mean that the security is currently held or will be held within an L&G portfolio. The above information does not constitute a recommendation to buy or sell any security

• Why AI disruption may be the bigger, longer-lasting market force than episodic geopolitical shocks
• Insights into fixed income markets, including our base-case outlook for rates and spreads over the next quarter
• Where AI buildout spending is creating private credit opportunities—and the red flags to watch for
• How we think about AI-related opportunities in equities

• How asset managers can adapt to meet changing client needs
• The importance of culture in enabling team performance
• What it takes as an individual to achieve your ambitions

L&G’s Affordable Housing platform is a demonstration of how investing in real assets has the potential to make a real difference.

Aside from offering a potentially compelling opportunity for institutional investors, the provision of these homes addresses a critical societal need. In our latest podcast, we turn our attention to this space, while also noting some exciting recent developments around L&G’s efforts in Affordable Housing.

Joining us on the podcast this week we have:

• Ali Farrell, Head of Impact Strategies for Real Estate, L&G
• Shaun Holdcroft, Head of Affordable Homes, L&G

This podcast is moderated by Nick Jardine, Content Manager at L&G.

All data is from the UK’s Ministry of Housing, Communities and Local Government as of March 2025.

Assumptions, opinions and estimates are provided for illustrative
purposes only. There is no guarantee that any forecast will come to
pass.

This episode explores how the DC industry – and L&G – can move from member engagement to action, at a time when new research* indicates that 41% of working people aged 25 to 55 are not on track for the retirement income they’ll need.

DC Close Up host Lesley‑Ann Morgan, Global Head of DC in our Asset Management business, is joined by Jenny Hazan, Director of Customer Strategy and Engagement at L&G. Together, they discuss why the biggest challenge in DC pensions is not participation but adequacy – and why information alone rarely changes behaviour.

Drawing on examples spanning compound growth, behavioural biases and artificial intelligence (AI), this episode considers how behavioural science, data and technology must work together to support better member outcomes.

This podcast was recorded on 31 March 2026. All information and views from L&G as at date of recording.

*Decades Ahead research launched by L&G and research partner Public First on the 18 March 2026.
https://group.legalandgeneral.com/en/about-us/our-purpose/safeguarding-financial-futures/decades-ahead

For professional investors only. Capital at risk.

Assumptions, opinions, and estimates are provided for illustrative purposes only. There is no guarantee that any forecasts made will come to pass.

Past performance is not a guide to the future. The value of an investment and any income taken from it is not guaranteed and can go down as well as up, you may not get back the amount you originally invested.

The information in this podcast is for information purposes only and we are not soliciting any action based on it. It is not a recommendation to buy or sell securities or pursue a particular investment strategy. It is not investment, legal, regulatory or tax advice.