CECP Advisors LLP
2024 UK TCFD ENTITY REPORTIMPORTANT INFORMATION
The disclosures in this report are prepared on behalf of CECP Advisors LLP, a limited liability
partnership registered in England and Wales under number OC357077 and authorised and regulatedby the Financial Conduct Authority (“FCA”) in the United Kingdom (firm reference number 531409),(the "UK Entity").
This report ("UK TCFD Report") has been prepared to comply with the UK Entity’s obligations (asapplicable) under Chapter 2 of the FCA's Handbook's Environment, Social and GovernanceSourcebook ("FCA ESG"). It cross‐refers to information which can be found in the Carlyle 2024 TCFD
report (“Group Report”), which is incorporated in the Carlyle 2024 ESG Report ("Group ESG Report")(see link here). The Group Report should be read in conjunction with the sections of the otherreports cross‐referenced in this UK TCFD Report.
The UK Entity is a part of Carlyle, a multinational private equity, alternative asset management andfinancial services corporation traded on the NASDAQ stock exchange with ticker "CG" ("Carlyle", the"Group", "we").
The UK Entity’s TCFD in‐scope business covers the provision of "portfolio management services" (asthat term is defined in FCA ESG, which, in this context, includes advising on investments). The UK
Entity’s TCFD in‐scope business is covered by this UK TCFD Report, to the extent that the in‐scopebusiness is addressed by the Group Report.
Carlyle's governance of, and approach to, climate‐related financial risks and opportunities isgenerally determined at group level. As an investment advisor to its US Carlyle affiliates in relation
to funds and other products managed by its affiliates, the climate‐related financial risks andopportunities to which the UK Entity is exposed directly correlate to the climate‐related financial
risks and opportunities arising for those affiliates, via their portfolios, funds and other managed
products. The UK Entity may also arrange transactions relating to such funds and act as a distributorof Carlyle funds in the UK and certain other jurisdictions (excluding the EEA). The UK Entity does notdelegate its advisory functions and therefore it is not necessary to address delegation and theinteraction between climate‐related risks and opportunities in this UK TCFD Report.
The reference period for this UK TCFD Report and the Group Report is 1 January 2023 – 31 December
2023.

CECP Advisors LLP, Registered in England and Wales, Partnership Number OC357077, Registered Office: 1 St James’s Market, London SW1Y 4AH
CECP Advisors LLP is authorised and regulated by the Financial Conduct Authority

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COMPLIANCE STATEMENT
The disclosures in this report, including any third party or group disclosures cross-referenced in it,comply with the relevant requirements set out in chapter 2 of the FCA's Environment, Social andGovernance (ESG 2) sourcebook as of 28 June 2024.

Signature: ____________________
Name:
Matthew Cottrell
Title:
Compliance Officer
CECP Advisors LLP
Date: 28/06/2024

CECP Advisors LLP, Registered in England and Wales, Partnership Number OC357077, Registered Office: 1 St James’s Market, London SW1Y 4AH
CECP Advisors LLP is authorised and regulated by the Financial Conduct Authority

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GOVERNANCE
Disclose the organisation's governance around climate‐related risks and opportunities.
The governance recommendations are addressed on pages 56‐57 of the Group Report. Specificreferences are provided below.
Carlyle's Board of Directors has ultimate
oversight over ESG activities, including theDescribe the board's oversight of climate‐ approach to climate risks and opportunities, inrelated risks and opportunities.
respect of the whole Group including the UKEntity. The UK Entity’s own directors have, aspart of their directors' duties and regulatory
obligations, responsibility for any climate risks
that arise specifically within their own entity tothe extent that these pose a risk to the interestsof the company, though due to the nature ofthe business this is not expected to occur.
Recommended Disclosure a)

For details of the Group's governancearrangements please refer to page 57 of theGroup Report. In addition, please see theresponse to GRI 102‐19 on page 70 of theGroup ESG Report, which describes board
oversight of ESG matters including climate‐
related financial risks and opportunities.
Recommended Disclosure b)

Carlyle's Sustainability team oversees theapproach of the Group to ESG and climate‐
Describe management’s role in assessing and related risks and opportunities. Carlyle’s Co‐
managingclimate‐relatedrisksand Heads of Sustainability report into the Global
opportunities.
Head of Corporate Affairs, with ultimate
oversight from the firm's Chief OperatingOfficer. For details of the Group's management
arrangements please refer to page 57 of theGroup Report.

CECP Advisors LLP, Registered in England and Wales, Partnership Number OC357077, Registered Office: 1 St James’s Market, London SW1Y 4AH
CECP Advisors LLP is authorised and regulated by the Financial Conduct Authority

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STRATEGY
Disclose the actual and potential impacts of climate‐related risks and opportunities on theorganisation’s businesses, strategy, and financial planning where such information is material.
The strategy recommendations are addressed on pages 57‐58 of the Group Report. Specificreferences are provided below.
Recommended Disclosure a)

Please see page 58 for information on theclimate‐related risks faced by the Group overDescribe the climate‐related risks and the short, medium and long term. Further
opportunities the organisation has identified investigation by the Group is needed toover the short, medium, and long term.
accurately
determineclimate‐related
opportunities, as well as the timeframe inwhich each climate‐related risk andopportunity is most likely to materialise. TheUK Entity has not identified climate‐relatedrisks relating to its business that would merit
having additional regulatory capital as a part ofits internal capital adequacy and risk
assessment (ICARA) process under the FCA's
MIFIDPRU rules.
Recommended Disclosure b)

The Group views ESG efforts as part of theoverall value creation plan, and when ESG can
Describe the impact of climate‐related risks and be directly tied to financial outcomes within
opportunities on the organisation's businesses, our portfolio, we endeavour to describe thatstrategy, and financial planning.
relationship – please see some examples in thispaper published by Carlyle.
Further analysis is required to fully predict the
impact of climate‐related risks andopportunities for Carlyle, including the UK
Entity. However, please see disclosure a) above
in relation to no additional regulatory capitalbeing assessed to be needed to cover climate‐
related risks.
Recommended Disclosure c)

At this time the Group has yet to undertakeclimate scenario analysis. We are currently
Describe the resilience of the organisation's investigating integrating scenario analysis intostrategy, taking into consideration different our future reporting for the Group, including
climate‐related scenarios
the UK entity.

CECP Advisors LLP, Registered in England and Wales, Partnership Number OC357077, Registered Office: 1 St James’s Market, London SW1Y 4AH
CECP Advisors LLP is authorised and regulated by the Financial Conduct Authority

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RISK MANAGEMENT
Disclose how the organisation identifies, assesses and manages climate‐related risks.
The way in which climate‐related risks are identified and managed are addressed on pages 59‐60of the Group Report. Specific references are provided below.
For more information on the Group's risk
management approach please refer to pages
Describe the organisation's processes for 59‐60 of the Group Report.
identifying and assessing climate‐related risks.
Recommended Disclosure a)

Recommended Disclosure b)

There is a firm‐wide ESG review committee
focused on ESG risks, including climate‐related
Describe the organisation's processes for risks, that is comprised of the Chief Operating
managing climate‐related risks.
Officer, Chief Risk Officer and the Global Headof Corporate Affairs.
For more information on the Group's risk
management approach please refer to pages
59‐60 of the Group Report.
Recommended Disclosure c)

Climate‐related risks which are suﬃciently
material are managed by the Group in the same
Describe how processes for identifying, way as other risk ma ers. See page 23 of theassessing, and managing climate‐related risks Group's 2024 Proxy Statement.
are integrated into the organisation's overallrisk management.

METRICS AND TARGETS
Disclose the metrics and targets used to assess and manage relevant climate‐related risks andopportunities where such information is material.
The metrics and targets recommendations are addressed on page 60 of the Group Report. Specificreferences are provided below. Data in the Group Report, or other cross‐referenced report, thatare estimated, approximated, or limited in scope (or statements based on such data) areidentified as such in the Group Report or other cross‐referenced report.
Recommended Disclosure a)

For information on the Group's tracking ofmetrics please refer to page 60 of the Group
Disclose the metrics used by the organisation to Report.
assess climate‐related risks and opportunities
in line with its strategy and risk management
process.

CECP Advisors LLP, Registered in England and Wales, Partnership Number OC357077, Registered Office: 1 St James’s Market, London SW1Y 4AH
CECP Advisors LLP is authorised and regulated by the Financial Conduct Authority

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The emissions of the Group are provided on
page 65 of the Group ESG Report.

Recommended Disclosure b)
Disclose Scope 1, Scope 2, and, if appropriate,
Scope 3 greenhouse gas (GHG) emissions, andthe related risks.

The Group has a goal to achieve net zero
greenhouse gas emissions by 2050 or sooner
Describe the targets used by the organisation across direct investments and supports thisto manage climate‐related risks and long‐term goal with near‐term goals. Further
opportunities and performance against targets. details of the Group's targets and the KPIs used
to measure progress can be found on pages 61
to 64 of the Group ESG report.
Recommended Disclosure c)

At this time, the Group does not use an internalcarbon price.

CECP Advisors LLP, Registered in England and Wales, Partnership Number OC357077, Registered Office: 1 St James’s Market, London SW1Y 4AH
CECP Advisors LLP is authorised and regulated by the Financial Conduct Authority

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