Exhibit (c)(viii)

SUGARCANE\Presentations\2010-05-16 Revised Board Book\04 2010-05-16 Revised Board Presentation.doc gbertail 20 May 2010 13:10 1/37 Project SUGARCANE Presentation to the Board of George 16-May-2010

SUGARCANE\Presentations\2010-05-16 Revised Board Book\04 2010-05-16 Revised Board Presentation.doc gbertail 20 May 2010 13:10 2/37 Disclaimer Goldman Sachs International (“GSI”) has prepared and provided these materials and GSI’s related presentation (the “Confidential Information”) solely for the information and assistance of the Board of Directors (the “Board”) of George (the “Company”) in connection with its consideration of the matters referred to herein. Without GSI’s prior written consent, the Confidential Information may not be circulated or referred to publicly, disclosed to or relied upon by any other person, or used or relied upon for any other purpose. Notwithstanding anything hereinto the contrary, the Company may disclose to any person the US federal income and state income tax treatment and tax structure of any transaction described herein and all materials of any kind (including tax opinions and other tax analyses) that are provided to the Company relating to such tax treatment and tax structure, without GSI imposing any limitation of any kind. The Confidential Information, including this disclaimer, is subject to, and governed by, any written agreement between the Company, the Board and/or any committee thereof, on the hand, and GSI, on the other hand. GSI and its affiliates are engaged in investment banking, commercial banking and financial advisory services, securities trading, investment management, principal investment, financial planning, benefits counseling, risk management, hedging, financing, brokerage activities and other financial and non-financial activities and services for various persons and entities. In the ordinary course of these activities and services, GSI and its affiliates may at any time make or hold long or short positions and investments, as well as actively trade or effect transactions, in the equity, debt and other securities (or related derivative securities) and financial instruments (including bank loans and other obligations) of third parties, the Company, any other party to any transaction and any of their respective affiliates or any currency or commodity that may be involved in any transaction for their own account and for the accounts of their customers. The Confidential Information has been prepared and based on information obtained by GSI from publicly available sources, the Company’s management and/or other sources. In preparing the Confidential Information, GSI has relied upon and assumed, without assuming any responsibility for independent verification, the accuracy and completeness of all of the financial, legal, regulatory, tax, accounting and other information provided to, discussed with or reviewed by GSI, and GSI does not assume any liability for any such information. GSI does not provide accounting, tax, legal or regulatory advice. GSI’s role in any due diligence review is limited solely to performing such a review as it shall deem necessary to support its own advice and analysis and shall not be on behalf of the Company. Analyses based upon forecasts of future results are not necessarily indicative of actual future results, which may be significantly more or less favorable than suggested by these analyses, and GSI does not assume responsibility if future results are materially different from those forecast. GSI has not made an independent evaluation or appraisal of the assets and liabilities of the Company or any other person and has no obligation to evaluate the solvency of the Company or any person under any law. The analyses in the Confidential Information are not appraisals nor do they necessarily reflect the prices at which businesses or securities actually may be sold or purchased. The Confidential Information does not address the underlying business decision of the Company to engage in any transaction, or the relative merits of any strategic alternative referred to herein as compared to any other alternative that may be available to the Company. The Confidential Information is necessarily based on economic, monetary, market and other conditions as in effect on, and the information made available to GSI as of, the date of such Confidential Information and GSI assumes no responsibility for updating or revising the Confidential Information.

SUGARCANE\Presentations\2010-05-16 Revised Board Book\04 2010-05-16 Revised Board Presentation.doc gbertail 20 May 2010 13:10 1/37 Table of Contents I. Summary Overview II. Financial Analysis A. George B. Melvin III. Pro Forma Analysis Appendix A: Melvin Dividend Forecasts Appendix B: Melvin Pro Forma Capital Impact Analysis Appendix C: Cost of Equity Calculation

SUGARCANE\Presentations\2010-05-16 Revised Board Book\04 2010-05-16 Revised Board Presentation.doc gbertail 20 May 2010 13:10 1/37 I. Summary Overview            Summary Overview 1

Consideration Summary Price and Form of Consideration for George Securities            Consideration Securities            Beneficiaries            Number            Offered $m            Emmanuel Roman, Pierre Lagrange, their affiliated entities and trusts, and two equity participation limited 1.0856 Melvin shares Principal Group partnerships (Sage Summit LP and Lavender Heights            per George share Shares of Common 90,995,933 318.51 Capital LP), except with respect to shares into which subject to cap of $4.25 Stock convertible notes are converted and shares acquired in            at closing open market purchases To be converted into 1.0856 Melvin shares Principal Group 58,904,993 per George share Noam Gottesman and his affiliated trust 206.2 ¹ Exchangeable Shares            shares of George            subject to cap of $4.25 common stock            at closing All other George shareholders (other than Melvin and Other Shares of            its affiliates), as well as Noam Gottesman and $4.50 per George share 160,247,036 721.1 Common Stock            Emmanuel Roman with respect to shares acquired in            in cash open market purchases Total Consideration to Holders of Shares of Common Stock and Exchangeable Shares 310,147,962 1,245.8 To be converted into Convertible note holders (including Noam Gottesman, 66,127,3424 $4.50 per George share Convertible Notes            Emmanuel Roman and Pierre Lagrange whose affiliates 297.64 shares of George            in cash hold 13%2 out of the total $228.5m3 outstanding) common stock Aggregate Consideration 376,275,304 1,543.3 Private and institutional investors Warrants George’s founders 54,484,677 $0.129 per warrant 7.0 Certain affiliates of George Outstanding Debt (Excluding Convertible            Banks            To be refinanced5 302.7 ³ Notes) 1 Based on the Melvin share closing price (£2.215) and USD to GBP exchange rate (USD/GBP 1.45555) of May 14. 2 Based on February 19 Schedule 13Ds for Gottesman, Roman and Lagrange. 3 Based on March 31 Form 10-Q. 4 Based on George estimates. 5 Confirmed by Melvin on due diligence calls. Summary Overview 2

Valuation Overview Transaction Multiples and Premiums of Aggregate Consideration ($ in millions) 12 Transaction Terms Consideration to Equity Holders 1,246 Consideration to Convertible Bond Holders 298 Aggregate Consideration 1,543 Enterprise Value ¹ 1,659 Premium to Market Capitalisation 25-Mar-2010 Close ² 827 51% LTM High 1,395 (11)% LTM Low 798 56% Current 903 38% Enterprise Value Multiple of Assets Under Management 23,668 7.0% LTM Revenue (Non GAAP) 303 5.5 x LTM EBITDA (Non GAAP) (5) NM 2010E EBITDA 84 19.8 x 2011E EBITDA 158 10.5 x Aggregate Consideration Multiple of 2010E Net Income (As Converted) 68 22.6 x 2011E Net Income (As Converted) 108 14.3 x 1 Net of $7.0m cash use to fund self tender of warrants at 12.9 cents per warrant pre closing pursuant to the Agreement. 2 Day prior to market rumours about a potential acquisition of George by Melvin. Summary Overview 3

II. Financial Analysis            Financial Analysis 4

Historical Share Price Development Since George’s Merger1234 Performance (%) George Merger1 LTM 3M 6M            YTD 16 George (79)% (19)% 8% 2% (10)% Melvin (61)% (3)% 1% (40)% (28)% 14 European Alt. AM (35)% 17% 3% (20)% (7)% North America Alt. AM (67)% 24% 14% 17% 8% ) UK Trad. AM (16)% 45% 23% 6% 6% $ ( George 12 (16)% for 10 Price (35)% 8 Closing 6 to (61)% Rebased 4 (67)% (79)% 2 0 Nov-2007 Apr-2008 Sep-2008 Feb-2009 Jul-2009 Dec-2009 May-2010 George Melvin            UK Trad. AM4 North America Alt. AM ³ European Alt. AM ² Source: Bloomberg as of 14-May-2010 Note: Market capitalisation weighted indices 1 Since close of 02-Nov-2007 for “George merger” (reverse acquisition transaction with Freedom Acquisition Holdings). 2 Includes Ashmore, BlueBay, Gartmore and Gottex. 3 Includes Och-Ziff, Fortress and Sprott. 4 Includes Schroders, Aberdeen and Henderson. Financial Analysis 5

Historical Exchange Ratio Development Since George’s Merger Exchange Rate USD/GBP 1.456 1.70x            Average Exchange Ratio Since Average Share Price G. Merger 2Y 1Y 6M 3M            YTD Current            George IPO L12M 6M 3M            YTD            Current 1.60x 0.84x 0.76x 0.77x 0.73x 0.81x 0.78x 0.90x Melvin (£) 3.70 2.79 2.71 2.43 2.52 2.22 Melvin ($) 6.60 4.48 4.28 3.70 3.90 3.22 George ($) 5.76 3.39 3.04 2.99 3.02 2.91 1.50x            Apr-2008 George announces resignation 1.40x            of portfolio manager Greg            May-2009 Coffey (responsible for            George reports positive Q1 1.30x            managing $7.0bn of funds) results and announces amendment of Credit Agreement 1.20x            and issuance of Convertible bond Oct-2009 1.10x            Galleon insider trading probe 1.00x 0.90x 0.90x 0.80x Average: 0.84x 0.70x 0.60x 0.50x 0.40x Nov-2007 Apr-2008 Sep-2008 Feb-2009 Jul-2009 Dec-2009 May-2010 Source: Bloomberg as of 14-May-2010 Financial Analysis 6

A. George            Financial Analysis 7

SUGARCANE\Presentations\2010-05-16 Revised Board Book\04 2010-05-16 Revised Board Presentation.doc gbertail 20 May 2010 13:10 8/37 Market Prices: Share Price Performance Last 12 Months1234 George Average Share Price 1M 3M 6M 12M Prior to 14-May ($3.02)1 3.21 3.00 3.04 3.40 Prior to 26-Mar ($2.68)1 2.81 2.96 3.09 3.34 George Minimum Share Price 26-Mar-2010 1M 3M 6M 12M Prior to 14-May ($3.02)1 2.72 2.65 2.65 2.58 Melvin reported to be in talk Prior to 26-Mar ($2.68)1 2.65 2.65 2.58 2.28 with SAC, George on George Maximum Share Price            potential acquisition 1M 3M 6M 12M ) 5.8 Prior to 14-May ($3.02)1 3.52 3.52 3.52 4.52 $ ( Prior to 26-Mar ($2.68)1 2.99 3.47 4.23 4.52 45% George 5.1 24% 4.5 Price for 17% 3.8 (3)% Closing 3.1 (19)% to Rebased 2.5 1.8 May-2009 Jul-2009 Sep-2009 Nov-2009 Jan-2010 Mar-2010 May-2010 George Melvin            UK Trad. AM4 North America Alt. AM ³ European Alt. AM ² Source: Bloomberg as of 14-May-2010 Note: Market capitalisation weighted indices 1 Share price for George as of 13-May-2010 and 25-Mar-2010. 2 Includes Ashmore, BlueBay, Gartmore and Gottex. 3 Includes Sprott, Och-Ziff and Fortress. 4 Includes Schroders, Aberdeen and Henderson. Financial Analysis 8

SUGARCANE\Presentations\2010-05-16 Revised Board Book\04 2010-05-16 Revised Board Presentation.doc gbertail 20 May 2010 13:10 9/37 Market Prices: Historical Valuation Metrics 1 Year Forward P/E Evolution 18x 16x 14x 14.2 x 12.9 x 12x Multiple NTM P/E 10x 8x 6x 4x 2x May-2008 Nov-2008 May-2009 Nov-2009 May-2010 George 1 Year Average Source: Bloomberg as of 14-May-2010 Financial Analysis 9

2 George Detailed Enterprise Value Calculation $m 25-Mar-2010 14-May-2010 Total Number of Shares Outstanding (m) 309 310 ow/ Common Shares Outstanding 250 251 ow/ FA Sub 2 Limited Exchangeable Shares 59 59 Share Price ($) 2.68 2.91 Market Capitalisation 827 903 Convertible Notes 229 229 Warrants (In the Money Value) 0 0 Equity Value 1,055 1,131 Net Debt 41 109 ow/ Cash (264) (194) ow/ Revolving Credit Facility 12 12 ow/ Loan Payable 293 290 Enterprise Value 1,097 1,240 Financial Analysis 10

2 Equity Research Analysts Projections            George is covered by three equity analysts: Barclays, KBW and Credit Suisse Barclays (19-Feb-2010) KBW (19-Feb-2010) CS (06-May-2010) Average $m 2010 2011 2010 2011 2010 2011 2010 2011 Revenues 411 555 378 494 429 558 406 536 Expenses (316) (404) (287) (317) (363) (413) (322) (378) Cost/Income Ratio 77% 73% 76% 64% 85% 74% 79% 71% EBITDA 95 152 91 177 66 145 84 158 Net Income 66 112 64 132 49 103 60 116 Fully Diluted EPS 0.20 0.30 0.20 0.38 0.13 0.28 0.18 0.32 Source: Research reports Financial Analysis 11

SUGARCANE\Presentations\2010-05-16 Revised Board Book\04 2010-05-16 Revised Board Presentation.doc gbertail 20 May 2010 13:10 12/37 2 George Income Statement Management Projections $m 2010 2011 Revenues 406 536 Expenses (322) (378) Cost/Income Ratio 79% 71% EBITDA 84 158 D&A (4) (5) Interest Expense (14) (21) ow/ Convertible Interest Expense (11) (11) Profit Before Tax 66 133 Tax Expense (6) (33) Net Income 60 100 Net Income (As Converted) 68 108 Basic Number of Shares 310.1 310.1 Basic EPS 0.19 0.32 FD Number of Shares (As Converted) 371.6 371.6 FD EPS (As Converted) 0.18 0.29 Source: Management projections Note: Increase in interest expense in 2011 reflects expectations of higher interest rate on floating debt            Financial Analysis 12

2 Public Market Multiples — Public Market Multiples of Selected Companies Selected Traditional and Alternative Asset Managers Equity            Closing            Calendarized Enterprise Value            Div. Market            Price            P / E Multiples            EBITDA            Yield Company Cap ($m) 14-May-2010 2010E 2011E            AUM 2010E 2011E 2010 European Alternative AM Melvin $5,521 $3.22 11.2 x 7.7 x 8.4% 5.1 x 3.9 x 13.7% Ashmore 2,674 3.77 14.4 12.9 7.2 8.9 8.0 4.8 BlueBay 998 5.02 14.0 10.6 2.4 8.7 6.9 4.7 Gartmore 644 2.09 7.7 6.5 2.4 6.2 5.4 2.5 Gottex 205 6.72 16.6 8.0 2.2 11.9 6.6 2.4 Average 12.8 9.1 4.5 8.2 6.2 5.6 North American Alternative AM Och-Ziff $5,895 $16.34 11.3 x 9.6 x 24.9% 9.4 x 7.2 x 6.9% Fortress 2,100 4.63 9.1 6.6 6.3 11.0 9.4 NA Sprott 597 3.96 13.2 10.8 12.9 8.3 7.1 3.2 Average 11.2 9.0 14.7 9.6 7.9 5.0 UK Traditional AM Schroders $5,483 $20.22 16.7 x 14.0 x 1.4% 7.3 x 6.0 x 2.4% Aberdeen 2,210 2.00 11.0 9.5 1.1 9.6 8.0 5.0 Henderson 1,703 2.08 14.4 12.8 2.1 11.4 10.0 4.5 Average 14.0 12.1 1.5 9.5 8.0 4.0 George (Broker Average - Undisturbed) $1,055 $2.68 15.3 x 8.4 x 4.6% 13.1 x 6.9 x George (As Converted - Undisturbed) $1,055 $2.68 14.6 x 9.2 x 4.6% 13.1 x 6.9 x George (As Converted — 14-May-10) $1,131 $2.91 15.8 x 10.0 x 5.2% 14.8 x 7.8 x Source: Bloomberg, IBES as of 14-May-2010 Note: FX rate used for conversion are as of 14-May-2010: USD/GBP 1.456. George undisturbed price represents 25-Mar-2010 closing price            Financial Analysis 13

3 Discounted Future Value Analysis — George Based on P/E Multiple Discounted Future Value Analysis1 Sensitivity Analysis Median U.S. Alt. AM P/E Multiple $1,234 Discounted 12/31/10 Value Median Alt. AM P/E Multiple P/E Multiple $1,138 U.S. Median            Alt. Median $1,138 11.3 x 12.3 x 10.0% $1,151 $1,248 12/31/10 12/31/10 Discount Forward Year Net Income (as converted)² $108 12.0 1,138 1,234 Rate Forward P/E Multiple Median U.S. Alt. Asset Managers 11.3 x Median Alt. Asset Managers 12.3 14.0 1,125 1,220 Implied Future Value Median U.S. Alt. Asset Managers $1,222 Median Alt. Asset Managers 1,325 Discounted Future Value @ 12.0% Discount Rate Median U.S. Alt. Asset Managers $1,138 Median Alt. Asset Managers 1,234 1 Discounted to 14-May-10 at a 12.0% discount rate. 2 Figure excludes interest expense associated with convertible debt. Financial Analysis 14

4 George: Analysts’ Target Prices Current Share Price: $2.91 Broker Recommendations 6M Ago Today Buy            Buy 33% 33% Hold            Hold 67% 67% Target Prices ($) 6M Ago            Today Upside vs. Upside vs. Broker            Date            Target            Trading Price            Broker            Date Target            Trading Price CS 06-Aug-2009 4.0 50.4% KBW 07-May-2010 4.0 37.5% KBW 06-Nov-2009 3.5 31.6% CS 07-May-2010 4.0 37.5% BarCap 06-Nov-2009 4.0 50.4% BarCap 07-May-2010 3.0 3.1% Median 4.0 50.4% Median 4.0 37.5% Average 3.8 44.1% Average 3.7 26.0% Source: Datastream as of 14-May-2010 Financial Analysis 15

Recent M&A Activity Control Transactions in Traditional and Alternative Asset Management ($ in millions, except where otherwise noted) Upfront Consideration Stake            Transaction Multiples Date/ Upfront Plus PV of Full Acquired AuM            LTM EBITDA            Run Rate EBITDA            AUM (%) Month Acquirer            Target            Consideration Cont. Pmnt.¹ (%) ($bn) Upfront Upfront + PV Upfront Upfront + PV Upfront Upfront + PV Apr-10 F&C Investments Thames River Capital $82 — 100% $6.4 — — — — 1.3% — Feb-10 AMG            Pantheon 700 $908 85 22.0 — — 8.8 x 11.4 x 3.7 4.9% Jan-10 Aberdeen            RBS A.M. 135 — 100 21.6 8.7x ² — — — 0.6 —Oct-09 Invesco            MS Retail AM (Van Kampen) 1,500 — 100 118.7 — — 7.7 — 1.3 — Sep-09 Ameriprise            Columbia Management 1,000 — 100 166.7 — — 7.0 — 0.6 —Aug-09 Macquarie            Delaware Investments 428 — 100 125.0 — — — — 0.3 — Jun-09 BlackRock BGI 13,500 — 100 1,495.0 7.4 — — — 0.9 —Jan-09 Henderson Group New Star 165 — 100 14.3 2.2 ³ — — — 1.2 —Dec-08 Aberdeen CSG-fund Mgmt. 360 — 100 57.8 2.8 — — — 0.6 —Jan-08 Blackstone GSO 620 855 100 8.0 — — — — 7.8 10.7 Jul-07 HFA            Lighthouse 661 — 100 7.3 — — 11.34 — 9.1 — Jun-07 BlackRock            Quellos 750 1,569 100 17.4 5.0 10.5 x — — 4.3 9.0 Jun-07 Madison Dearborn Nuveen 6,302 — 100 165.8 18.0 — 16.5 — 3.8 —Apr-07 Citigroup            Old Lane 800 100 4.5 — — — — 17.8 — Feb-07 Great-West            Putnam 3,900 — 100 195.0 12.9 — — — 2.0 —Feb-06 BlackRock            ML Asset Management 9,487 — 100 527.1 15.3 — — — 1.8 — Dec-05 Bank of Ireland Guggenheim 184 — 72 2.8 — — — — 9.2 —Nov-05 Legg Mason            Permal 800 1,2405 80 19.3 — — — — 5.2 6.4 Jun-05 Legg Mason            Citigroup 3,700 — 100 462.5 9.3 — 8.0 — 0.8 — Note: Represents selected control transactions with available public data. RBS A.M consideration converted at USD/GBP of 1.5959 as of 08-Jan-10; Lighthouse consideration converted at USD/AUD of 0.91 as of 31-Oct-07. 1 Upfront Consideration Plus PV of Full Contingent Payment calculated assumes full notional contingent payment discounted to transaction date at 10% annual discount rate. 2 Based on operating profit for twelve months to 30-Sep-2009. 3 Based on estimated marginal cost income ratio for the business acquired following the integration, as indicated by the acquirer. 4 NTM multiple per HFA investor presentation. 5 Represents consideration for 100% stake. Financial Analysis 16

SUGARCANE\Presentations\2010-05-16 Revised Board Book\04 2010-05-16 Revised Board Presentation.doc gbertail 20 May 2010 13:10 17/37 B. Melvin            Financial Analysis 17

Market Prices: Share Price Performance Last 12 Months1234 Melvin Average Share Price 1M 3M 6M 12M 26-Mar-2010 Prior to 14-May (GBP2.30)1 2.45 2.44 2.71 2.78 Prior to 26-Mar (GBP2.51)1 2.38 2.64 2.95 2.77 Melvin Reported to be in talk with SAC, George on Melvin Minimum Share Price potential acquisition 1M 3M 6M 12M Prior to 14-May (GBP2.30)1 2.10 2.10 2.10 2.10 Prior to 26-Mar (GBP2.51)1 2.18 2.15 2.15 1.99 Melvin Maximum Share Price (GBP) 1M 3M 6M 12M 3.7 Prior to 14-May (GBP2.30)1 2.71 2.72 3.71 3.71 Prior to 26-Mar (GBP2.51)1 2.52 3.27 3.71 3.71 45% Melvin 3.3 24% for 2.9 17% Price 2.4 (3)% Closing 2.0 (19)% to 1.6 Rebased 1.2 May-2009 Jul-2009 Sep-2009 Nov-2009 Jan-2010 Mar-2010 May-2010 Melvin George            UK Trad. AM4 North America Alt. AM ³ European Alt. AM ² Source: Bloomberg as of 14-May-2010 Note: Market capitalisation weighted indices 1 Share price for Melvin as of 25-Mar-2010 and 13-May-2010. 2 Includes Ashmore, BlueBay, Gartmore and Gottex. 3 Includes Sprott, Och-Ziff and Fortress. 4 Includes Schroders, Aberdeen and Henderson. Financial Analysis 18

Market Prices: Historical Valuation Metrics 1 Year Forward EV/EBITDA 1 Year Forward P/E 10x 16x 14x 8x 12x 11.7 x Multiple            Multiple 6x 6.0 10x 10.1 x EBITDA 4.5 x 8x NTM 4x            NTM P/E 6x 2x 4x 0x 2x May-2008 Nov-2008 May-2009 Nov-2009 May-2010 May-2008 Nov-2008 May-2009 Nov-2009 May-2010 Melvin 1 Year Average            Melvin 1 Year Average Source: Bloomberg as of 14-May-2010 Financial Analysis 19

2 Melvin Detailed Enterprise Value Calculation As of 31-Mar-2010 $m Total Number of Shares Outstanding (m) 1,712 ow/ Common 1,712 Share Price ($) 3.22 Market Capitalisation 5,511 Net Debt (1,440) ow/ Cash (3,229) ow/ Bank Loans & Overdrafts 55 ow/ Fixed Rate Notes 1,034 ow/ Euro Bond 0 ow/ Floating Rate Notes 400 ow/ Hybrid 300 Minority Interests 0 Associates (815) ow/ BlueCrest (720) ow/ Ore Hill (53) Other (42) Enterprise Value 3,256 Note: Market prices as of 14-May-2010 Financial Analysis 20

2 Public Market Multiples — Public Market Multiples of Selected Companies Selected Traditional and Alternative Asset Managers Equity            Closing            Calendarized Enterprise Value            Div. Market            Price            P / E Multiples            EBITDA            Yield Company Cap ($m) 14-May-2010 2010E 2011E            AUM 2010E 2011E 2010 European Alternative AM Ashmore $2,674 $3.77 14.4 x 12.9 x 7.2% 8.9 x 8.0 x 4.8% BlueBay 998 5.02 14.0 10.6 2.4 8.7 6.9 4.7 Gartmore 644 2.09 7.7 6.5 2.4 6.2 5.4 2.5 Gottex 205 6.72 16.6 8.0 2.2 11.9 6.6 2.4 Average 13.2 9.5 3.6 8.9 6.7 3.6 North American Alternative AM Och-Ziff $5,895 $16.34 11.3 x 9.6 x 24.9% 9.4 x 7.2 x 6.9% Fortress 2,100 4.63 9.1 6.6 6.3 11.0 9.4 NA George 1,131 2.91 15.8 10.0 5.2 14.8 7.8 Sprott 597 3.96 13.2 10.8 12.9 8.3 7.1 3.2 Average 12.4 9.3 12.4 10.9 7.9 5.0 UK Traditional AM Schroders $5,483 $20.22 16.7 x 14.0 x 1.4% 7.3 x 6.0 x 2.4% Aberdeen 2,210 2.00 11.0 9.5 1.1 9.6 8.0 5.0 Henderson 1,703 2.08 14.4 12.8 2.1 11.4 10.0 4.5 Average 14.0 12.1 1.5 9.5 8.0 4.0 Melvin $5,521 $3.22 11.2 x 7.7 x 8.4% 5.1 x 3.9 x 13.7% Source: Bloomberg, IBES as of 14-May-2010 Note: FX rate used for conversion are as of 14-May-2010: USD/GBP 1.456 Financial Analysis 21

SUGARCANE\Presentations\2010-05-16 Revised Board Book\04 2010-05-16 Revised Board Presentation.doc gbertail 20 May 2010 13:10 22/37 2 Public Market Multiples: Implied Multiples at Different Values Fiscal Year-End 31-Dec Value per Share ($) 2.90 3.06 3.22 3.38 3.54 3.70 3.86 Premium vs. Current (10)% (5)% 0% 5% 10% 15% 20% Total Number of Shares 1712 1712 1,712 1,712 1,712 1,712 1,712 Equity Value 4,960 5,235 5,511 5,787 6,062 6,338 6,613 Enterprise Value 2,705 2,981 3,256 3,532 3,807 4,083 4,358 Base ($m) P/E Multiples 2010E 491 10.1 x 10.7 x 11.2 x 11.8 x 12.3 x 12.9 x 13.5 x 2011E 717 6.9 7.3 7.7 8.1 8.5 8.8 9.2 EV/EBITDA Multiples 2010E 643 4.2 4.6 5.1 5.5 5.9 6.4 6.8 2011E 834 3.2 x 3.6 x 3.9 x 4.2 x 4.6 x 4.9 x 5.2 x EV/AuM Multiples Latest Reported 39,100 6.9% 7.6% 8.3% 9.0% 9.7% 10.4% 11.1% Note: Market data as of 14-May-2010 Financial Analysis 22

3 Present Value of Future Share Price Analysis — Melvin Based on P/E Multiple            Calendarised to 31-Dec Fiscal Year End Present Value of Future Share Price Analysis1 Sensitivity Analysis Median Eur. Alt. AM P/E Multiple $3.22 Current Stock Price Median Alt. AM P/E Multiple Present Value of 12/31/10 Stock Price Current P/E Multiple $5.32 $5.09 $4.19 P/E Multiple Eur. Median Alt. Median            Current $5.32 14.2 x 13.6 x 11.2 x 9.0% $5.38 $5.15 $4.24 12/31/10 12/31/10 Discount 11.0 5.32 5.09 4.19 Forward Year EPS (IBES) $0.40 Rate Forward P/E Multiple Median Eur. Alt. Asset Managers 14.2 x Median Alt. Asset Managers 13.6 13.0 5.26 5.04 4.15 Current 11.2 Implied Share Price Median Eur. Alt. Asset Managers $5.68 Median Alt. Asset Managers 5.44 Current 4.48 Present Value of Share Price @ 11.0% Discount Rate Median Eur. Alt. Asset Managers $5.32 Median Alt. Asset Managers 5.09 Current 4.19 1 Discounted to 14-May-10 at a 11.0% discount rate. Financial Analysis 23

SUGARCANE\Presentations\2010-05-16 Revised Board Book\04 2010-05-16 Revised Board Presentation.doc gbertail 20 May 2010 13:10 24/37 4 Melvin: Analysts’ Target Prices Current Share Price: £2.22 / $3.22 Target Prices            Analysts’ Recommendations Target Price      % vs. Current Today Broker            Date£ $ Share Price            Sell 6% BofA-ML 25-Mar-2010 3.65 5.44 69% Buy Charles Stanley 18-Nov-2009 3.12 4.65 45% 48% Citi 07-May-2010 3.24 4.84 50% CS 26-Mar-2010 2.68 4.00 24% Evolution 26-Mar-2010 3.34 4.99 55% Hold HSBC 04-May-2010 3.39 5.06 57% 47% KBW 25-Mar-2010 2.43 3.63 13% Macquari 09-Apr-2010 3.49 5.21 62% 6M Ago Morgan Stanley 06-May-2010 2.63 3.93 22% Sell 6% Nomura 08-Apr-2010 3.04 4.53 41% Buy Numis 22-Apr-2010 2.89 4.31 34% 48% Shore 25-Mar-2010 1.93 2.88 (10)% Singer 31-Mar-2010 3.85 5.74 78% Median 3.12 4.65 45% Hold Mean 3.05 4.55 42% 47% Source: Datastream as of 14-May-2010 Note: USD to GBP exchange rate applied is 1.456 Financial Analysis 24

4 Melvin Annotated Share Price LTM Share Price Performance            Dividend Analysis 2010E 2011E 2012E 27-Jan-2010 (Oriel Securities) 17-Mar-2010 (Morgan Stanley) We continue to anticipate an unchanged dividend for FY10 of 44c given the large            Despite surplus capital, we expect a re-base and            IBES EPS ($) 0.25 0.30 0.43 170% capital surplus of $1.6bn. This means that            forecast $0.25 DPS FY11 (Cons $0.44). Surplus capital confers the shares are currently yielding 11%. options and management has indicated interest in acquiring a 25-However on the basis of an EPS for FY11 of 50% stake in an equity L/S manager to address capacity/content 160% only 32c, the sustainability of the dividend            concerns which we could see as positive. However, accessing must be in question and there is a risk of re- institutional names with capacity and a need to access Man’s            IBES Net Income ($m) 426 513 786 basing. distribution strength will be tough, in our view. 150% IBES DPS ($) 0.44 0.44 0.44 26-Mar-2010 140% Melvin reported to be Price            in talk with SAC, George on potential            Implied Dividend ($m) 753 753 753 130% acquisition Indexed 120% Payout Ratio 176% 147% 102% 110% 12-Mar-2010 (Credit Suisse) Dividend Yield (%) 13.6% 13.6% 13.6% 100% Given the weak earnings trends we have reduced            our dividend per share forecast for the coming year (3.4)% to be line in with our EPS forecasts 90% 80% May-2009 Aug-2009 Nov-2009 Feb-2010 May-2010 Melvin Source: Datastream as of 14-May-2010 Financial Analysis 25

SUGARCANE\Presentations\2010-05-16 Revised Board Book\04 2010-05-16 Revised Board Presentation.doc gbertail 20 May 2010 13:10 26/37 III. Pro Forma Analysis            Pro Forma Analysis 26

Accretion / (Dilution) Analysis Assuming $50m Pre-tax Synergies Fiscal Year End 31-Mar 2011E $m            Phased-in Synergies            Fully Phased Synergies Combined Earnings (Pre Synergies) Melvin Net Income 513 513 George Net Income 70 70 Convertible Notes Interest Expense 9 9 Return on Excess Capital Consumed (15) (15) Pro Forma Net Income 576 576 Combined Earnings (Post Synergies) Pre-tax Synergies 50 50 Phasing 25% 100% Post-tax Synergies (Phased in) 10 40 Pro Forma Net Income 586 616 Pro Forma Number of Shares Melvin Total Shares Outstanding 1,712 1,712 Shares Issued 163 163 Pro Forma Number of Shares 1,875 1,875 Accretion / (Dilution) Pro Forma EPS (Pre Synergies) ($) 0.31 0.31 Current Melvin EPS ($) 0.30 0.30 EPS Accretion / (Dilution) (Pre Synergies) 2.5% 2.5% Pro Forma EPS (Post Synergies) ($) 0.31 0.33 Current Melvin EPS ($) 0.30 0.30 EPS Accretion / (Dilution) (Post Synergies) 4.3% 9.6% Pro Forma Analysis 27

Future Share Price Analysis — Pro Forma Based on P/E Multiple Future Share Price Analysis            Blended Multiple Calculation Melvin P/E Mult. — ex. Synergies $3.22 Current Melvin Market Cap. Multiple Blended P/E Mult. — ex. Synergies            Stock Price Melvin P/E Mult. — inc. Synergies $5.35 Melvin $5,511 11.2 x Blended P/E Mult — inc. Synergies $5.15 $5.06 George 903 15.8 $4.87 Blended $6,414 11.8 x 12/31/10 Value Creation Breakdown            Present Value of Future Share Price1 12/31/10 PV of 12/31/10 Excl. Synergies            Incl. Synergies Standalone Melvin Forward EPS (IBES) $0.40 Transaction EPS Acc / (Dil) w/o synergies 0.04 Stock Price            Melvin            Blended            Melvin            Blended Synergies EPS Acc / (Dil) 0.02 $4.56 11.2 x 11.8 x 11.2 x 11.8 x Pro Forma EPS $0.45 9.0% $4.61 $4.88 $4.79 $5.07 Melvin P/E Multiple 11.2 x Discount PF Stock Price w/o Multiple Expansion $5.06 11.0 4.56 4.83 4.74 5.01 Rate Multiple Expansion to Blended Multiple 11.8 x 13.0 4.51 4.77 4.69 4.96 PF Stock Price w/ Multiple Expansion $5.35 1 Discounted to 14-May-10. Pro Forma Analysis 28

Appendix A: Melvin Dividend Forecasts            Melvin Dividend Forecasts 29

Melvin Dividend Forecast Dividend Per Share Individual Analyst Estimates ($) Broker            Last Confirmed Date 2010E 2011E 2012E BAML 25-Mar-2010 0.44 0.44 0.44 Charles Stanley 18-Nov-2009 0.44 0.44 0.44 Citi 10-May-2010 0.44 0.44 0.44 Credit Suisse 13-May-2010 0.44 0.22 0.34 Evolution 25-Mar-2010 0.40 0.40 -HSBC 13-May-2010 0.44 0.44 0.44 KBW 25-Mar-2010 0.44 0.44 0.44 Macquarie 09-Apr-2010 0.44 0.44 0.44 Morgan Stanley 10-May-2010 0.44 0.25 0.33 Nomura 08-Apr-2010 0.44 0.44 0.46 Numis 12-May-2010 0.44 0.44 0.44 Oriel 14-Apr-2010 0.44 0.41 -Shore 25-Mar-2010 0.44 0.44 0.44 Singer 01-Apr-2010 0.40 0.40 0.40 Median 0.44 0.44 0.44 Note: 2009A dividend per share was $0.44. Melvin Dividend Forecasts 30

Appendix B: Melvin Pro Forma Capital Impact Analysis            Melvin Pro Forma Capital Impact Analysis 31

Capital Impact Analysis As of 31-Mar-2010 Transaction Impacts $m            Melvin            George Share Issuance            Goodwill            Other            PF 31-Mar-2010 Core Tier 1 Capital 2,107 68 525 (1,640) 992 Innovative Tier 1 Capital 300 0 300 Tier 1 Capital 2,407 68 1,292 Tier 2 Capital 400 12 400 Own Funds 2,807 79 1,692 Material Holdings Deductions (200) (0) (200) Total Capital 2,607 79 1,492 Capital Requirements 1,098 29 (150) 948 Solvency Ratio 237% 272% 157% Regulatory Surplus Capital 1,509 50 544 Net decrease of $150m in pro forma capital requirements include — $250m lower capital requirements due to the intention of Man not to call $400m FRN Tier II subordinated debt callable in September 2010 — $100m additional capital requirements            Melvin Pro Forma Capital Impact Analysis 32

Appendix C: Cost of Equity Calculation            Cost of Equity Calculation 33

$E—BNE—US—Standard            Centerhead

Cost of Equity Calculation George            Melvin U.S. Risk-Free Rate 4.16% U.K. Risk-Free Rate 4.30% Axioma Historical Equity Beta 0.82 Axioma Historical Equity Beta 1.20 U.S. Equity Risk Premium 6.67% U.K. Equity Risk Premium 5.44% U.S. Size Premium 1.73 Cost of Equity 11.37% Cost of Equity 10.82% Note: Market data as of 14-May-10. U.S. risk-free rate based on 20 Yr, 5 3/8% Feb 2031; U.K. risk-free rate based on benchmark 20 year Ds. Govt. Index. Cost of Equity Calculation 34