preliminary resultsYear to 27th September 2009

contentsOverview 2Results — Year to September 2009 3Dividends 5Investment Management excluding redundancy and amortisation of client relationships 6Split of Income (Investment Management) 7Investment Management — FUM 8Return on Funds 9New Teams and Branches 10

Brewin Dolphin Investment Banking Investment Banking excluding redundancy costs 12

Cash and Capital Adequacy 14Break Even — Other Things Being Equal 15

Positives for the Future Enhancing the Brand 17 New Business Development 18Awards 19Strategy 20Outlook 21

Appendix Analysis of Funds 23 Other Facts 24 Staff 25 Approach to Investment 26

2

overview

· Resilience during a turbulent year

· Benefits of scale and focus on our clients

· 40 offices give national coverage

· Increasing market focus on equity vs debt

3

results — year to september 2009

2009 2008 % Change (Restated)

FTSE 100 Average for year 4,506 5,750 -21.6%

£’000 £’000

Total Income 212,312 206,495 2.8%

Salaries (75,552) (71,983) 5.0%

Other Operating Costs (78,873) (70,607) 11.7%

Profit before profit share* 57,887 63,905 -9.4%

Profit share (27,211) (33,217) -18.1%

Operating Profit* 30,676 30,688 0.0%

Net Finance Income 1,467 6,148 -76.1%

Profit before tax* 32,143 36,836 -12.7%

* Excluding redundancy costs and amortisation of client relationships

4

results — year to september 2009

2009 2008 (Restated) % Change

£’000 £’000

Profit before tax* 32,143 36,836 -12.7%Redundancy costs (3,638) (634) Intangible asset client relationship amortisation (6,566) (4,244)

Profit before tax 21,939 31,958 -31.4%Taxation (6,404) (9,939) Dividends (15,060) (14,771)

475 7,248

Earnings per share Basic Earnings per share 7.4p 10.7p -30.8% Diluted earnings per share 7.2p 10.3p -30.1%Earnings per share* Basic earnings per share 10.8p 12.4p -12.9% Diluted earnings per share 10.6p 11.9p -10.9%* Excluding redundancy costs and amortisation of client relationships

5

dividends

Interim 3.55p maintained

Final 3.55p maintained

Total 7.10p maintained

Strong financial position – over £60m cash today.

6

2009 2008 % change £000’s £000’s

Revenue 178,944 174,170 2.7%

Interest turn 25,071 19,526 28.4%

Total income 204,015 193,696 5.3%

Staff costs (71,562) (67,370) 6.2%

Other operating costs (74,712) (64,326) 16.1%

Total cost (146,274) (131,696) 11.1%

Pre profit share profit 57,741 62,000 -6.8%

Profit share (27,140) (32,310) -16.0%

Operating profit 30,601 29,690 3.1%

investment management*

* Excluding redundancy costs and amortisation of client relationships

7

Recurring Income (54%) (2008: 55%)

Non-recurring Income (46%) (2008: 45%)

split of incomeinvestment management

8

investment managementfum

At 27th Sept 09 At 28th Sept 08 % change

Indices

FTSE APCIMS Private Investor Series Balanced Portfolio 2,640 2,586 2.1%

FTSE 100 5,082 5,089 - 0.1%

Funds

Discretionary funds under management £11.8bn £10.2bn 15.7%

Advisory funds under management £8.7bn £8.5bn 2.4%

TOTAL MANAGED FUNDS £20.5bn £18.7bn 9.6%

9

return on funds

2007 2008 2009 2009 (adjusted for interest)

Return on Discretionary Funds 1.13% 1.18% 1.27% 1.23%

Return on Advisory Funds 0.66% 0.73% 0.96% 0.93%

10

new teams and branches

2009 – 6 New Teams

including branches in Truro and Brighton

loss making in first year (£0.4m)

2008 – 21 New Teams

£2.0bn funds introduced to date (£1.3bn disc)

Cost of funds acquired: 1.3%

Net Profit in 2009: £1.5 m

11

brewin dolphin investment banking

12

2009 2008 % change £000’s £000’s

Revenue 8,297 12,799 -35.2%

Interest turn - - -

Total income 8,297 12,799 -35.2%

Staff costs (3,990) (5,113) -22.0%

Other operating costs (4,161) (5,781) -28.0%

Total cost (8,151) (10,894) -25.2%

Pre profit share profit 146 1,905 -92.3%

Profit share (71) (907) -92.2%

Operating profit 75 998 -92.5%

investment bankingeXcluding redundancy costs

13

14

cash and capital adequacy

2009 2008

Cash at year end £39m £34m

Cash at end of November £60m £50m

Capital adequacy surplus £11m £23m

15

break even – other things being equal

FTSE

In 2003 4,000

In 2007 3,600

In 2008 2,500

Now 2,500

16

positives for the future

SOME COMPANIES USE COMPUTERS TO MAKE BUYING AND SELLING STOCK DECISIONS.

CLEVER.

BUT YOU TRY GETTING A COMPUTER TO MEET YOU IN THE CAFE ON PLATFORM 3 AT BRISTOL TEMPLE MEADS ON A WET FRIDAY AFTERNOON.

At Brewin Dolphin, we don’t let computers make the decisions that can affect your life and your livelihood, only real people, individuals thinking about their individual client’s circumstances and portfolio. That’s why we take time to talk with, meet with, and often just chat about nothing with our clients, so we can better respond to their individual wants, needs, and dare we say it, idiosyncrasies. The reference in our headline is true, we do have a client who always wants to meet in that particular cafe at that particular railway station. Unusual maybe, but it does serve as an example of the same simple philosophy that guides everything we do: that the first thing we earn is your trust.

0845 213 1000 brewin.co.uk Brewin Dolphin is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority No.124444.

enhancing the brand

At Brewin Dolphin, everyinvestment relationship beginswith a blank sheet of paper andthe individual. Our investmentmanagers have the freedom tochoose from the whole investmentmarket, as do their clients.There are no in-house funds to‘push’ or ‘sell’, and we’re happyto give advice that is not alwaysin our commercial interests.You see, we’re independentlyowned, and we’re free to tailorportfolios to the individual’s needs.So you’ll �nd the way we do thingsis rather different to the way someother companies do them, andyou’ll see that it all stems fromthe simple philosophy that guideseverything we do: that the �rstthing we earn is your trust.

0845 213 1000 brewin.co.uk Brewin Dolphin is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority No.124444.

LISTENING TO WHAT OUR CLIENTS WANT HELPS US TAILOR-MAKE EACH PORTFOLIO TO SUIT THE INDIVIDUAL.

IN OTHER WORDS, WE LET YOU SPEAK BEFORE YOU’RE BESPOKEN TO.

Bespoken_210x297.indd 2 27/10/2009 09:15:13

0845 213 1000 brewin.co.uk Brewin Dolphin is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority No.124444.

Our investment managers have found themselves doing some strange things for their clients over the years. They’ve turned out for local cricket teams,fed fish, even looked after pet dogs. Unusual, butwith such a willingness to go beyond the call of duty it’s no surprise that clients tend to stay with us a long time. But neither is it unusual for relationships to last beyond a lifetime. Some of our investment managers have helped several generations of the same family. So, as well as all the other things we do, you could say we look after people’s kids too. Perfect testimony to the simple philosophy that guides everything we do: that the first thing we earn is your trust.

SOME OF OUR RELATIONSHIPSGO BACK FOUR GENERATIONS.

THAT’S NOT JUST GREAT.

THAT’S GREAT-GREAT.

17

18

2008/09

Intermediaries sales team £235m

New Charity team £200m

Tax Wrappers and SIPPs £525m

new business development

19

awards

Best Discretionary Broker at Shares Magazine Awards 2009

Outstanding Individual in Business Support and Best Market Newsletter in The Daily Telegraph Wealth Management Awards 2009

20

strategy

· Leverage scale of UK’s largest independent investment manager

· Build on recurring revenue and discretionary management

· Retain and attract clients through high levels of customer service

· Develop Investment Banking flexible model to exploit market recovery

· Attract and motivate talented people

21

· More stable markets

· National branch network now in place

· Client base focus on long term equity investment

· Business model and scale will support continued development

outlook

22

appendiX

analysis of funds

Discretionary

Advisory

Execution-only

· Discretionary £11.8bn

· Advisory £8.7bn

· Execution-only £4.1bn

Total funds £24.6bn

· Custody £22.5bn

· Certificated £2.1bn

Total funds £24.6bn

23

other facts

· Assets under management

Pensions funds and tax wrapped products ..................... £2.5bn

Charitable funds ............................................................. £1.5bn

ISAs ............................................................................... £2.5bn

· 40 offices

· Corporate Adviser to 103 quoted companies

24

staff

· Total Staff at year end ............................... 1731

· FSA Approved Staff ........................................ 643

· Staff shareholders own ................................... 24.5%

25

approach to investment

What makes us special is that the person who talks to the client makes the investment decisions.

With the help of our:

· Asset Allocation Committee

· Strong research departments

· Collective funds analysis service

· Model portfolios management options

· Strong compliance

26

preliminary resultsYear to 27th September 2009