TPG Results Presentation Deck slide image

TPG Results Presentation Deck

Non-GAAP Balance Sheet 2Q'22 cash and cash equivalents of $585 million increased 142% over actual 4Q'21 largely driven by $391 million of net IPO proceeds ■ ■ Our borrowings include securitized notes with a principal amount of $250 million, which are backed by $469 million in pledged assets at 2Q'22, and a senior unsecured term loan with a principal amount of $200 million that was issued as part of the Reorganization At 2Q'22, our net cash(¹) was $135 million, and we had an undrawn $300 million credit facility; in July 2022 we expanded our credit facility to $700 million In 4Q'21 we effectuated certain aspects of the Reorganization with respect to assets transferred to RemainCo, including cash and economic entitlements associated with certain other investments, which is reflected in our Non-GAAP actuals; the pro forma column includes the impact of the IPO and additional Reorganization activities ($ in thousands) Book Assets Cash and cash equivalents Restricted cash Accrued performance allocations Investments in funds Other assets, net Total Book Assets Book Liabilities Accounts payable, accrued expenses and other Securitized borrowing, net Senior unsecured term loan Total Book Liabilities Net Book Value $ $ Non-GAAP 4Q'21 242,370 13,135 1,344,348 559,810 733,085 2,892,748 525,267 244,950 199,494 969,711 1,923,037 $ $ Pro Forma 4Q'21 646,387 13,135 769,283 559,810 504,644 2,493,259 308,421 244,950 199,494 752,865 1,740,394 $ $ Non-GAAP 2Q'22 585,494 13,135 677,277 554,316 591,716 2,421,938 40,095 245,105 198,930 484,130 1,937,808 Note: Pro forma financial measures are on an adjusted basis, assuming the Reorganization and IPO on January 1, 2020; see the Reconciliations and Disclosures section of this presentation for a full reconciliation and description of adjustments. 1. Net cash comprised of $585 million of cash and cash equivalents less $450 million in debt principal. TPG | 14
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