Investor Presentaiton
Glossary
Assets Under Management and Assets Under Advisement. For financial presentation purposes, total assets under management and assets under advisement ("AUM / AUA") of AITI Global consists of: (i) assets under
advisement ("AUA") and assets under management ("AUM") of TWMH; (ii) AUM of TIG Entities; and (iii) AUA and AUM of Alvarium.
AUM/AUA of TWMH includes billable and non-billable assets. Billable assets represent the portion of assets on which TWMH charges fees. Non-billable assets are exempt of fees. They consist of assets such as cash and
cash equivalents, real estate, investment consulting assets and other designated assets. As of December 31, 2022, TWMH'S AUM / AUA is $29.9 billion; AUM accounts for $19.3 billion and AUA accounts for $10.6 billion.
AUM/AUA of Alvarium includes billable and non-billable assets. Billable assets represent the portion of assets on which Alvarium charges fees; these are assets in which Alvarium is acting in a fiduciary capacity as well as co-
investment assets. For the purpose of calculating co-investment assets, Alvarium includes the gross asset value of all assets managed or supervised by operating partner subsidiaries, affiliates and joint ventures in which
Alvarium holds either a majority or minority stake. Non-billable assets are exempt of fees. As of December 31, 2022, Alvarium's AUM/AUA was $26.8 billion.
AUM of the TIG Entities includes the assets under management of each of the TIG Entities' external strategic managers. External strategic managers are those managers in which the TIG Entities have made an external
investment, and the strategies of these managers include Real Estate Bridge Lending, European Long/Short Equity and Asian Credit. As of December 31, 2022 the TIG Entities' AUM was $8.3 billion; internal strategies account
for $3.0 billion and external strategic managers account for a combined $5.3 billion.
Unless otherwise defined, AUM refers to assets on which a business provides continuous and regular billable supervisory or management services. As noted, the AUM of each of the TIG Entities and AITi Global includes the
AUM of the TIG Entities' external strategic managers as we believe including such AUM presents a more accurate depiction of the respective businesses. However, the AUM of the external strategic managers should not be
viewed as part of the AUM of the TIG Entities or AlTi Global for regulatory and/or statutory purposes under the U.S. Investment Advisers Act of 1940, as amended.
Economic EBITDA. For financial presentation purposes, Economic EBITDA represents management's view of the underlying economic earnings generated by the Company after the recognition of a profit by the Company
after the recognition of a profit-share participation in one of the affiliates of the AITI Global.
Mgmt./Advisory Fees. Mgmt/Advisory fees represent fees recurring in nature, primarily management fees.
AITI Tiedemann Global
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