Carlyle Investor Day Presentation Deck

Fortitude Is the Foundation of Our Insurance Solutions Strategy LEVERAGES OUR INVESTMENT SOLUTIONS DRIVES MULTIPLE SOURCES OF REVENUE PLATFORM $4.7 BN Assets rotated / committed to 25 Carlyle products (through 2020) INVESTOR DAY 2021 ~$50 MN Fee run-rate on related funds & investment income / carry to come ASSET-LIGHT STRATEGY Strong underlying performance / self- fund acquisition of additional blocks STRONG OPERATING FUNDAMENTALS 13-15% Mid-teens ROE on $465 MN investment into Fortitude EXCEPTIONAL LEADERSHIP Fully stood-up independent company / deep & focused management 50

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