Carlyle Investor Day Presentation Deck

Secular Trends Powering Infrastructure Growth INDUSTRY UNLISTED INFRASTRUCTURE ASSETS UNDER MANAGEMENT¹ ($ BILLIONS) $167 2010 $213 $223 $272 $293 INVESTOR DAY 2021 $322 $383 2011 2012 2013 2014 2015 2016 Note: There is no guarantee these trends will continue. 1. Preqin Special Report: The Future of Alternatives 2025. November 2020. 2. McKinsey & Co. "Bridging infrastructure gaps: Has the world made progress?" October 2017. $452 $527 2017 2018 $634 $639 2019 2020 INFRASTRUCTURE AUM HAS NEARLY QUADRUPLED IN THE PAST DECADE, DRIVEN BY $3.7 TN REQUIRED ANNUAL GLOBAL INFRASTRUCTURE SPENDING ² 131

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