Carlyle Investor Day Presentation Deck

Actively Manage Headwinds Carbon-based energy continues to present attractive investment opportunities, but with fundraising challenges ● ● Our long-term carry fund capital will continue to earn management fees with upside from performance revenue Carbon energy investments are generally in dedicated funds We are well-positioned to capitalize on the transition to renewable energy through our integrated infrastructure platform INVESTOR DAY 2021 TOTAL AUM IN CARBON-BASED ENERGY FUNDS ($BN) $23 12% OF TOTAL AUM 2015 $19 8% OF TOTAL AUM 2020 105

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