Bending the Curve: Driving Transformative Growth

Next Generation Public Company Structure Alignment of Interests FRE Centricity Balance Sheet Light Well- Defined Governance Plan Partner Compensation only from Salary, Carried Interest, and Equity in TPG 100% of Fee-Related Earnings 20% of Performance Allocations1 1. Primarily current and future generation funds, excluding legacy and former affiliate funds. TPG Capital-light with flexible capital structure Transition to independent board within 5 years 24

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