Carlyle Investor Day Presentation Deck

Real-Time Data Provide Insights into Ongoing Macroeconomic & Industry-Specific Developments Average China: % Change in Activity vs Pre-Lockdown CHINESE LOGISTICS VOLUMES: PORTFOLIO DATA RELATIVE TO BASELINE 60% 40% 20% 0% -20% -40% -60% -80% -100% Jan-20 Feb-20 Zero business volumes for >21 days! Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Source: Carlyle Analysis of Portfolio Company Data, January 2021. There is no guarantee any trends will continue. INVESTOR DAY 2021 31.3% Jan-21 EURO AREA RETAIL SALES & FOOT TRAFFIC: PORTFOLIO DATA RELATIVE TO YEAR AGO LEVELS 7-Day Average % Change in Trips to Retail Centers vs Pre-Pandemic Average 10% 0% -10% -20% -30% -40% -50% -60% -70% 23-Feb Retail Foot Traffic 23-Mar 23-Apr 23-May Rapid growth in online sales / logistics volumes as sales decouple from foot traffic 23-Jun -Discretionary Retail Sales 23-Jul 23-Aug 23-Sep 23-Oct 23-Nov -31.3% -59.6% 23-Dec 23-Jan 20% 10% 0% -10% -20% -30% -40% -50% -60% -70% -80% YOY % Change in Sales 199

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