Carlyle Investor Day Presentation Deck

Growing Performance Accrual Will Accelerate Investment Solutions Earnings • Net accrual balance has grown to $145 MM ● Carlyle's carry ownership is mostly in AlpInvest funds launched post- acquisition • Net Realized Performance ● Revenue will steadily increase over next few years Data presented as of December 31, 2020. There is no assurance that trends will continue or market forecasts will be realized. INVESTOR DAY 2021 $45 2015 INVESTMENT SOLUTIONS NET ACCRUED PERFORMANCE REVENUE ($MM) $45 2016 $74 2017 $81 2018 $101 2019 $145 2020 174

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