Company: CGABL
Filing Date: 2025-09-17
Form Type: 424B5
Source: 0001193125-25-206326
Chunk: 25

Company: Carlyle Group Inc.
Filing Date: 2025-09-17
Form: 424B5
Chunk 25
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ness is so secured. “Permitted Liens” means (a) liens on voting stock or profit participating equity interests of any subsidiary existing at the time such entity becomes a direct or indirect subsidiary of the Issuer or is merged into a direct or indirect subsidiary of the Issuer (provided such liens are not created or incurred in connection with such transaction and do not extend to any other subsidiary), (b) statutory liens, liens for taxes or assessments or governmental liens not yet due or delinquent or which can be paid without penalty or are being contested in good faith, (c) other liens of a similar nature as those described above and (d) liens securing indebtedness for money borrowed in an aggregate amount outstanding at any one time not to exceed $1.25 billion. This covenant will not limit the ability of the Credit Parties or their subsidiaries to incur indebtedness or other obligations secured by liens on assets other than the voting stock or profit participating equity interests of the Credit Parties and their respective subsidiaries. S-20

Consolidation, Merger, Sale of Assets and Other Transactions None of the Credit Parties shall be party to a Substantially All Merger or participate in a Substantially All Sale, unless:

| • |     | the Credit Party is the surviving Person, or the Person formed by or surviving such Substantially All Merger or                                                                                                                            
 to which such Substantially All Sale has been made (the “Successor Party”) is organized under the laws of the United States or any state thereof or, Belgium, Bermuda, Canada, Cayman Islands, France, Germany, Gibraltar, Ireland, Italy, 
 Luxembourg, the Netherlands, Switzerland, the United Kingdom or British Crown Dependencies, a member country of the Organisation for Economic Co-operation and Development, or any political subdivision of any                            
 of the foregoing (collectively, the “Permitted Jurisdictions”), and has expressly assumed by supplemental indenture all of the obligations of such Credit Party under the Indenture;                                                       |

| • |     | immediately after giving effect to such transaction, no default or Event of Default has occurred and is 
 continuing; and                                                                                         |

| • |     | the Issuer delivers to the Trustee an officers’ certificate and an opinion of counsel, each stating that                                                                                        
 such transaction and any supplemental indenture comply with the Indenture and that all conditions precedent provided for in the Indenture relating to such transaction have been complied with. |

For as long as any