Carlyle Investor Day Presentation Deck

Notes Notes on Accrued Performance Revenue (Pages 83, 100, 101) Net accrued performance revenues as of December 31, 2020 are net of $19 million in accrued giveback obligations and $2.5 billion in accrued performance allocations and incentive fee compensation related to non-controlling interests. We generally earn performance revenues (or carried interest) from our carry funds representing a 20% allocation of profits generated on third-party capital, and on which the general partner receives a special residual allocation of income from limited partners, which we refer to as carried interest, in the event that specified investment returns are achieved by the fund. Disclosures referring to carry funds also include the impact of certain commitments that do not earn carried interest but are either part of, or associated with, our carry funds. The rate of carried interest, as well as the share of carried interest allocated to Carlyle, may vary across the carry fund platform. Note on Remaining Fair Value (Page 102) (1) Fair Value of Investments generally reflects the unrealized carrying value of investments for all Global Private Equity and Global Credit carry funds, and related co-investment vehicles. Note on Balance Sheet Investments (Page 103) (1) Investments exclude the equity investments by Carlyle in NGP Energy Capital Management and the portion of CLO and CCS investments attributable to Carlyle stockholders that were financed with debt. INVESTOR DAY 2021 110

View entire presentation