Carlyle Investor Day Presentation Deck

Current & Future Stable Fee Rates 1.0% 0.8% 0.6% 0.4% 0.2% 0.0% INVESTOR DAY 2021 0.79% 0.78% 2012 EFFECTIVE MANAGEMENT FEE RATE 0.88% 0.91% 0.89% 0.90% 0.96% 2013 2014 2015 2016 2017 2018 0.98% 2019 0.94% 2020 ~0.95%+ 2024 Note: Excludes the impact of former hedge fund platform. Effective Management Fee Rate reflects management fee revenue divided by average Fee-earning AUM for each year. Please see the "Important Information" slide for more information about the use of and reliance on projections. 91

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