ICG Strategic Partnership Presentation to State of Connecticut Retirement Plans and Trust Funds (CRPTF)

Current market themes 1 2 3 Evaporation of senior debt liquidity Leverage loan issuance < 46% in the LTM¹ Equity valuations in flux Lowest European buy-out volumes in 10 years² Greater emphasis on bilateral transactions Requiring structured capital solutions ICG Flexible financing strategies come to the fore Optimal environment for structured capital solutions Established players like ICG poised to benefit Source: ICG, as at 30 June 2023. ¹Represents European institutional loan volume from S&P LCD as at 30 June 2023. 2Preqin as at 1st September 2023, on a rolling LTM basis. 14

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