Q3 2026 Activity Update

Scaling and diversifying: Fee-paying AUM up 24% to €177bn

Growth & diversification

• Double-digit FPAUM organic growth (+11%) YoY and total growth +24% including first-time consolidation of Marathon
• Further diversification with Credit, Secondaries and Infrastructure FPAUM of €105bn, +21% YoY on an organic basis, now 60% of Group FPAUM

Fundraising

• High confidence in Fund X reaching the same size or larger than Fund IX (€26bn+ FPAUM), following strong engagement with LPs in extensive premarketing
• Institutional fundraising showing momentum and breadth – Secondaries SOF VI closed at $10bn¹ vs $7bn target, Infrastructure showing continued progress in Q3-26
• Continued rapid scaling in Private Wealth: aggregate value² of €8.2bn, up ~3x YoY and net inflows in all products and all quarters
• Further progress in Insurance with the signing of our strategic partnership with Standard Life

Realisations and deployment

• Realisations continue at record levels; €23bn over the last twelve months, +31% YoY; strong returns of 2.9x gross MOIC and 23% gross IRR across Private Equity³
• Reaffirming guidance for 2026 performance-related earnings at around the 2025 level
• LTM deployment of €29bn, +26% YoY

Investment performance

• Encouraging value creation of +12%⁴ LTM across Private Equity and Infrastructure, supported by +14%5 LTM EBITDA growth across Private Equity

Leadership

• Leadership succession announced on 9 September: Todd Sisitsky and Peter Rutland to become Co-Chief Executive Officers by Q1 2028
• John Hourican joined as Chief Financial Officer on 1 September

Rob Lucas, CEO, comments: "CVC delivered another strong quarter and is well positioned for continued growth. Fee-paying AUM increased by 24% year-on-year to €177bn, and our Credit, Secondaries and Infrastructure platforms now make up 60% of the total. Fundraising momentum is broad-based across strategies and client channels, from the $10bn final close of SOF VI to the continued rapid scaling of Private Wealth and our new partnership with Standard Life. We are realising investments at record levels, which gives us high confidence in our target of €26bn FPAUM or more for Europe / Americas Fund X."

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1. Including GP commitment, SOOF III and co-invest.

2. Including 1 October 2026 subscriptions and corresponding leverage, as applicable.

3. Weighted average by invested capital for Private Equity signed exits.

4. Including FX. +11% excluding FX.