Investor Presentaiton

WM AM M&A Will Continue to be a Key Driver of Growth Compelling universe of opportunities Transacted AUM/AUA by Asset Class and Share Alternative Asset Management Industry $ Billions Traditional $4,000 $3,000 ■Alternative ■Wealth management Combined alternative and wealth management share of total transactions $2,000 79% $1,262 $1,000 82% 80% $3,354 $2,952 91% Seeding & Incubation $1,620 $- 2019 2020 2021 2022 AITI Tiedemann Global Source: Piper Sandler • • OPPORTUNITY SET 2,000+ funds have AUM/AUA of $500M to $5B Larger Funds Selling Stakes Mid-Market Growth $500M $5B Opportunity By focusing on mid-sized specialist firms in our target AUM/AUA range, we seek to capitalize on businesses that have reached a growth inflection point. We look to accelerate growth by providing efficient, low-touch operational support, strategic guidance and distribution. 24

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