SEI Investments Co

________________________________________ SEI INVESTMENTS COMPANY (Exact Name of Registrant as Specified in its Charter) ________________________________________ Pennsylvania 23-1707341 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.)

PART I - FINANCIAL INFORMATION Page Item 1. Financial Statements. 2 Consolidated Balance Sheets (Unaudited) -- September 30, 2025 and December 31, 2024 2 Consolidated Statements of Operations (Unaudited) -- For the Three and Nine Months Ended September 30, 2025 and 2024 4 Consolidated Statements of Comprehensive Income (Unaudited) -- For the Three and Nine Months Ended September 30, 2025 and 2024 5 Consolidated Statements of Changes in Equity (Unaudited) -- For the Three and Nine Months Ended September 30, 2025 and 2024 6 Consolidated Condensed Statements of Cash Flows (Unaudited) -- For the Nine Months Ended September 30, 2025 and 2024 8 Notes to Consolidated Financial Statements 10 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 32 Item 3. Quantitative and Qualitative Disclosures About Market Risk. 48 Item 4. Controls and Procedures. 48

PART II - OTHER INFORMATION Item 1. Legal Proceedings. 49 Item 1A. Risk Factors. 49 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 49 Item 5. Other Information 49 Item 6. Exhibits. 50 Signatures 51

PART I - FINANCIAL INFORMATION Item 1. Financial Statements.

Consolidated Balance Sheets SEI Investments Company (unaudited) and Subsidiaries (Dollars in thousands, except per-share data)

September 30, 2025 December 31, 2024 Assets Current Assets: Cash and cash equivalents $ 792,822 $ 840,193 Receivables from investment products 50,563 54,118 Receivables, net of allowance for doubtful accounts of $ 2,228 and $ 1,435 670,116 567,634 Securities owned 31,242 29,583 Other current assets 66,975 60,282 Total Current Assets 1,611,718 1,551,810 Property and Equipment, net of accumulated depreciation of $ 461,304 and $ 493,219 156,065 159,643 Operating Lease Right-of-Use Assets 24,065 28,905 Capitalized Software, net of accumulated amortization of $ 661,413 and $ 641,071 235,559 236,023 Investments 293,865 315,567 Assets of Consolidated Variable Interest Entities 170,657 - Goodwill 168,430 170,287 Intangible Assets, net of accumulated amortization of $ 44,506 and $ 55,835 61,387 77,370 Deferred Contract Costs 49,113 45,855 Deferred Income Taxes 17,490 51,984 Other Assets, net 56,761 47,162 Total Assets $ 2,845,110 $ 2,684,606

The accompanying notes are an integral part of these consolidated financial statements.

Consolidated Balance Sheets SEI Investments Company (unaudited) and Subsidiaries (Dollars in thousands, except per-share data)

September 30, 2025 December 31, 2024 Liabilities, Redeemable Non-controlling Interests and Shareholders' Equity Current Liabilities: Accounts payable $ 7,871 $ 13,081 Accrued liabilities 254,162 347,513 Current portion of long-term operating lease liabilities 7,083 7,900 Deferred revenue 12,307 12,019 Total Current Liabilities 281,423 380,513 Liabilities of Consolidated Variable Interest Entities 100,492 - Long-term Income Taxes Payable - 803 Long-term Operating Lease Liabilities 19,234 24,235 Other Long-term Liabilities 24,552 26,943 Total Liabilities 425,701 432,494 Commitments and Contingencies Redeemable Non-controlling Interests 18,852 - Shareholders' Equity: Common stock, $ 0.01 par value, 750,000,000 shares authorized; 122,632,620 and 126,839,734 shares issued and outstanding 1,226 1,268 Capital in excess of par value 1,648,817 1,539,816 Retained earnings 774,892 758,003 Accumulated other comprehensive loss, net ( 24,378 ) ( 46,975 ) Total Shareholders' Equity 2,400,557 2,252,112 Total Liabilities, Redeemable Non-controlling Interests and Shareholders' Equity $ 2,845,110 $ 2,684,606

The accompanying notes are an integral part of these consolidated financial statements.

Consolidated Statements of Operations SEI Investments Company (unaudited) and Subsidiaries (Dollars in thousands, except per-share data)

Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Revenues: Asset management, administration and distribution fees $ 461,964 $ 423,859 $ 1,331,650 $ 1,237,623 Information processing and software servicing fees 116,547 113,537 357,806 330,338 Total revenues 578,511 537,396 1,689,456 1,567,961 Expenses: Subadvisory, distribution and other asset management costs 55,072 47,969 152,313 141,279 Software royalties and other information processing costs 9,434 8,936 27,706 25,503 Compensation, benefits and other personnel 203,739 191,740 594,097 570,534 Stock-based compensation 13,956 13,696 41,985 37,224 Consulting, outsourcing and professional fees 54,401 53,291 167,344 159,258 Data processing and computer related 41,569 37,556 122,689 112,790 Facilities, supplies and other costs 20,982 21,622 61,481 58,795 Amortization 11,912 10,413 33,071 31,284 Depreciation 7,485 8,341 23,077 25,097 Total expenses 418,550 393,564 1,223,763 1,161,764 Income from operations 159,961 143,832 465,693 406,197 Net gain from investments 1,992 427 4,244 3,349 Interest and dividend income 10,207 13,579 29,711 35,950 Interest expense ( 109 ) ( 141 ) ( 386 ) ( 419 ) Gain on sale of business - - 94,412 - Other income 4,922 8,151 9,422 8,151 Equity in earnings of unconsolidated affiliate 31,903 36,513 94,290 102,375 Net gain from consolidated variable interest entities 1,845 - 1,845 - Income before income taxes 210,721 202,361 699,231 555,603 Income taxes 46,135 47,461 156,045 130,183 Net income 164,586 154,900 543,186 425,420 Less: Net income attributable to non-controlling interests 382 - 382 - Net income attributable to SEI Investments Company $ 164,204 $ 154,900 $ 542,804 $ 425,420 Basic earnings per common share $ 1.33 $ 1.20 $ 4.35 $ 3.26 Shares used to compute basic earnings per share 123,099 129,418 124,710 130,550 Diluted earnings per common share $ 1.30 $ 1.19 $ 4.25 $ 3.23 Shares used to compute diluted earnings per share 126,325 130,671 127,684 131,830 Dividends declared per common share $ - $ - $ 0.49 $ 0.46

The accompanying notes are an integral part of these consolidated financial statements.

Consolidated Statements of Comprehensive Income SEI Investments Company (unaudited) and Subsidiaries (Dollars in thousands)

Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Net income $ 164,586 $ 154,900 $ 543,186 $ 425,420 Other comprehensive (loss) income, net of tax: Foreign currency translation adjustments ( 3,855 ) 12,413 18,038 9,071 Unrealized gain (loss) on investments: Unrealized gains (losses) during the period, net of income taxes of $( 276 ), $( 1,007 ), $( 1,410 ) and $( 463 ) 924 3,373 4,731 1,546 Reclassification adjustment for gains realized in net income, net of income taxes of $ 18 , $ 21 , $ 49 and $ 76 ( 64 ) ( 70 ) ( 172 ) ( 251 ) Total other comprehensive (loss) income, net of tax ( 2,995 ) 15,716 22,597 10,366 Comprehensive income $ 161,591 $ 170,616 $ 565,783 $ 435,786 Less: Comprehensive income attributable to the non-controlling interests 382 - 382 - Comprehensive income attributable to SEI Investments Company $ 161,209 $ 170,616 $ 565,401 $ 435,786

The accompanying notes are an integral part of these consolidated financial statements.

Consolidated Statements of Changes in Equity SEI Investments Company (unaudited) and Subsidiaries (Dollars in thousands, except per-share data)

Shares of Common Stock Common Stock Capital In Excess of Par Value Retained Earnings Accumulated Other Comprehensive Loss Total Equity For the Three Months Ended September 30, 2025 Balance, July 1, 2025 123,697 $ 1,236 $ 1,619,133 $ 739,453 $ ( 21,383 ) $ 2,338,439 Net income - - - 164,204 - 164,204 Other comprehensive loss - - - - ( 2,995 ) ( 2,995 ) Purchase and retirement of common stock ( 1,572 ) ( 15 ) ( 12,775 ) ( 128,765 ) -