Carlyle Investor Day Presentation Deck

Expanding Opportunity Set: Growing Demand for Private Capital Among Management Teams, Founders & Entrepreneurs Companies 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 O 6,247 1,697 -PE-Backed Company Inventory 2007 -Publicly Listed Companies Source: Jay Ritter, IPO Data, University of Florida, February 2021. Carlyle Analysis; PitchBook; Morgan Stanley, August 2020. There is no guarantee these trends will continue. INVESTOR DAY 2021 8,651 3.300 204

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