Company: CGABL
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001527166-25-000032
Chunk: 0

Company: Carlyle Group Inc.
Filing Date: 2025-04-17
Form: DEF 14A
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, a focused strategy, and disciplined execution, Carlyle is built for what is next. Letter From Our Board of Directors Dear Fellow Shareholders, It is my privilege to write to you on behalf of the Board as Carlyle’s newly appointed Lead Independent Director. We thank Lawton Fitt for her dedicated service in this role over the past decade and look forward to her continued contributions to the Board. As outlined in our 2024 Annual Report, Carlyle delivered record financial performance last year. The Board believes that this momentum—driven by Harvey’s leadership, a refreshed management team, and a clear strategic focus—positions the firm well for continued success. I look forward to working closely with my fellow directors, including our co-founders, Bill, David, and Dan, as well as Harvey and the broader management team, to drive long- term value for our shareholders. Our Board is focused on providing oversight and guidance on long-term corporate strategy and governance, alongside our goal of delivering superior long-term returns to our shareholders. In our engagement with shareholders over the past year, we appreciated your thoughtful feedback regarding our performance-based compensation program introduced in early 2024, and the longer-term strategic direction of our business. The enhanced compensation program has strengthened alignment among shareholders, the management team, and other senior leaders. Looking ahead, ensuring this alignment is a priority for the Board, as well as supporting the management team as they execute on Carlyle’s growth strategy.

| On behalf of the Board and the entire Carlyle team, thank you for your support. We look forward to continueddialogue with you in various forums during the year. |

| 2 | CARLYLE | Proxy Statement2025 |

Executive Summary VOTING ROADMAP

| Proposal |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | BoardRecommendation |                         | PageReference |
| Item 1   | Election to our Board of Directors of eight director nominees namedin this Proxy Statement for a one-year termThe Board believes that each of the director nominees has the knowledge,experience, skills, and background necessary to contribute to an effectiveand well-functioning Board.                                                                                                                                                                                                     |                     | FOReach directornominee |             6 |
| Item 2   | Ratification of Ernst & Young as Our Independent Registered PublicAccounting Firm for2025The Audit Committee has appointed Ernst & Young to serve as Carlyle’sindependent registered public accounting firm for the 2025 calendar yearand this appointment is being submitted to our shareholders forratification. The Audit Committee believes that the continued retention