Company: CGABL
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001527166-25-000032
Chunk: 107

Company: Carlyle Group Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 107
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 excluded from the segment results, adjustments to reflect the reimbursement of certain costs incurred on behalf of Carlyle funds on a net basis, and the inclusion of tax expenses associated with certain foreign performance revenues, as detailed below:

|                                                                                                  | Year Ended December 31, 
 (in millions)           |     2024 |     |       2023 |
|:-------------------------------------------------------------------------------------------------|:------------------------|---------:|:----|-----------:|
| Unrealized performance and fee related performance revenues                                      |                         | $1,031.9 |     | $(1,046.6) |
| Unrealized principal investment income                                                           |                         |     34.1 |     |       36.1 |
| Principal investment loss from dilution of indirect investment in Fortitude                      |                         |        — |     |     -104.0 |
| Adjustments related to expenses associated with investments in NGP Management and its affiliates |                         |    -13.1 |     |      -13.8 |
| Non-controlling interests and other adjustments to present certain costs on a net basis          |                         |    167.9 |     |      191.6 |
| Elimination of revenues of Consolidated Funds                                                    |                         |    -82.0 |     |      -74.6 |
|                                                                                                  |                         | $1,138.8 |     | $(1,011.3) |

| A-2 | CARLYLE | Proxy Statement2025 |

| Appendix A: Reconciliations of Non-GAAP Measures |

The following table reconciles the total segments fund level fee revenue to the most directly comparable U.S. GAAP measure, the Company’s consolidated fund management fees, for the years ended December 31, 2024 and 2023 :

|                                                     | Year Ended December 31, 
 (in millions)           |     2024 |     |     2023 |
|:----------------------------------------------------|:------------------------|---------:|:----|---------:|
| Total Reportable Segments - Fund level fee revenues |                         | $2,403.8 |     | $2,305.8 |
| Adjustments(1)                                      |                         |   -215.7 |     |   -262.6 |
| Carlyle Consolidated - Fund management fees         |                         | $2,188.1 |     | $2,043.2 |

(1) Adjustments represent the reclassification of NGP management fees from principal investment income