# EDGAR Filing Document

**Accession Number:** 0001854401
**File Stem:** 0001854401-23-000037
**Filing Date:** 2023-2
**Character Count:** 138137
**Document Hash:** 5376ee87a54e1cf60a8ee9b3e2c268da
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001854401-23-000037.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001854401-23-000037

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 73

**CONFORMED PERIOD OF REPORT**: 20230213

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bridge Investment Group Holdings Inc.
- **CENTRAL INDEX KEY:** 0001854401
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTMENT ADVICE [6282]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40622
- **FILM NUMBER:** 23621751

**BUSINESS ADDRESS:**
- **STREET 1:** 111 EAST SEGO LILY DRIVE
- **STREET 2:** SUITE 400
- **CITY:** SALT LAKE CITY
- **STATE:** UT
- **ZIP:** 84070
- **BUSINESS PHONE:** (801) 506-1463

**MAIL ADDRESS:**
- **STREET 1:** 111 EAST SEGO LILY DRIVE
- **STREET 2:** SUITE 400
- **CITY:** SALT LAKE CITY
- **STATE:** UT
- **ZIP:** 84070

?xml version="1.0" ? brdg-20230213

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

_________________________

**FORM 8-K**

_________________________

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of report (Date of earliest event reported): February 13, 2023**

_________________________

**Bridge Investment Group Holdings Inc.**

**(Exact Name of Registrant as Specified in its Charter)**

_________________________

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| | | |
|:---|:---|:---|
| **Delaware** | **001-40622** | **86-2769085** |
| **(State or Other Jurisdiction**<br>**of Incorporation)** | **(Commission**<br>**File Number)** | **(IRS Employer**<br>**Identification No.)** |

---

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| | |
|:---|:---|
| **111 East Sego Lily Drive, Suite 400**<br>**Salt Lake City, Utah**  | **84070** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

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**(801) 716-4500**

**(Registrant's telephone number, including area code)**

**Not applicable**

**(Former Name or Former Address, if Changed Since Last Report)**

_________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br>**Symbol(s)** | **Name of each exchange**<br>**on which registered** |
| **Class A Common Stock, $0.01 par value per share** | **BRDG** | **New York Stock Exchange** |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 1.01. Entry into a Material Definitive Agreement.** 

*Asset Purchase Agreement*

On February 13, 2023, affiliates of Bridge Investment Group Holdings Inc. ("Bridge") entered into a definitive agreement to purchase substantially all of the assets of Newbury Partners LLC, a Delaware limited liability company (the "Seller"), pursuant to the terms of an Asset Purchase Agreement (the "Asset Purchase Agreement") by and among Bridge Investment Group Holdings LLC, a Delaware limited liability company (a wholly owned subsidiary of Bridge) (the "Operating Company"), Newbury Partners-Bridge LLC, a Delaware limited liability company (an indirect wholly owned subsidiary of the Operating Company, the "Buyer"), the Seller and Richard Lichter, an individual, and RLP Navigator LLC, a Delaware limited liability company (collectively, the "Newbury Holders"). The Asset Purchase Agreement provides that the Buyer will acquire substantially all of the Seller's assets and in exchange the Buyer will assume certain of the Seller's liabilities and pay the Seller $320.1 million in cash, subject to certain purchase price adjustments as set forth in the Asset Purchase Agreement (the "Acquisition"). The board of directors of Bridge has unanimously approved the Acquisition, the Asset Purchase Agreement and the transactions contemplated thereby.

Bridge, the Seller and the Newbury Holders agreed to customary representations, warranties and covenants in the Asset Purchase Agreement. Subject to certain limitations, the Seller is required to indemnify the Buyer for losses resulting from any breaches of Seller's and the Newbury Holders' representations, warranties and covenants made in the Asset Purchase Agreement and certain other matters. To supplement the indemnification provided by the Seller and the Newbury Holders, Bridge has obtained representations and warranties insurance. Except as specifically set forth in the Asset Purchase Agreement, during the period from the date of the Asset Purchase Agreement until the closing of the Acquisition (the "Closing"), the Seller has agreed to conduct its business in all material respects in the ordinary course of business and not to take certain actions prior to the Closing without the consent of the Buyer.

The Acquisition is expected to close in the first half of 2023, subject to regulatory approvals, consents and other customary closing conditions. The Asset Purchase Agreement contains termination rights for both the Buyer and the Seller, including, among other bases for termination, if the Acquisition is not consummated by May 15, 2023, subject to certain exceptions. The Asset Purchase Agreement further provides that, upon termination of the Asset Purchase Agreement under specified circumstances, the Buyer may be required to pay the Seller a termination fee of $22.0 million.

The foregoing description of the Asset Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Asset Purchase Agreement, a copy of which is expected to be filed as an exhibit to our next Quarterly Report on Form 10-Q for the quarter ending March 31, 2023. The Asset Purchase Agreement is not intended to provide any other factual information about Bridge, the Seller or any of their respective subsidiaries or affiliates. The warranties and covenants contained in the Asset Purchase Agreement were made only for purposes of the Asset Purchase Agreement as of the specific dates set forth therein, were solely for the benefit of the parties to the Asset Purchase Agreement, may be subject to important qualifications and limitations agreed upon by the parties for the purposes of allocating contractual risk among such parties to the Asset Purchase Agreement instead of establishing these matters as facts, and may be subject to standards of materiality applicable to such contracting parties that differ from those applicable to investors. Investors should not rely on the warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the parties to the Asset Purchase Agreement or any of their respective subsidiaries or affiliates. Moreover, information concerning the subject matter of warranties may change after the date of the Asset Purchase Agreement, which subsequent information may or may not be fully reflected in Bridge's public disclosures.

**Item 2.02. Results of Operations and Financial Condition.** 

On February 14, 2023, Bridge issued a press release announcing its financial results for its fourth quarter and year ended December 31, 2022. A copy of the press release and earnings presentation is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information furnished pursuant to this Item 2.02 and the attached Exhibit 99.1 shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

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**Item 7.01. Regulation FD Disclosure.**

On February 14, 2023, Bridge issued a press release announcing the execution of the Asset Purchase Agreement. A copy of the press release is furnished as Exhibit 99.2 to this Current Report on Form 8-K. Bridge also published a presentation with respect to the Acquisition. The presentation can be found at https://ir.bridgeig.com. A copy of the presentation is also furnished in Exhibit 99.2 to this Current Report on Form 8-K.

The information furnished pursuant to this Item 7.01 and the attached Exhibit 99.2 shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

**Item 9.01. Financial Statements and Exhibits.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Exhibits</u>.

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | <u>[Press Release](ex991brdgq42022earningsrel.htm)[dated](ex991brdgq42022earningsrel.htm)[February 14, 2023](ex991brdgq42022earningsrel.htm)</u>. |
| 99.2 | <u>[Press Release dated](ex992brdgnewburypressreleaa.htm)[February 14, 2023](ex992brdgnewburypressreleaa.htm)</u>. |
| Exhibit 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. |

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**Cautionary Statement Regarding Forward Looking Statements**

This Current Report on Form 8-K contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future events or our future performance or financial condition. All statements other than statements of historical facts may be forward-looking statements, including statements relating to the expected timing, completion and effects of the Acquisition and the other transactions contemplated by the Asset Purchase Agreement and all other statements in this report and the exhibits furnished or filed herewith. In some cases, you can identify forward-looking statements by terms such as "outlook," "could," "believes," "expects," "potential," "opportunity," "continues," "may," "will," "should," "over time," "seeks," "predicts," "intends," "plans," "estimates," "anticipates," "foresees" or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. Accordingly, we caution you that any such forward-looking statements are based on our beliefs, assumptions and expectations as of the date made, taking into account all information available to us at that time. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties that are difficult to predict and beyond our control. Bridge may not be able to complete the proposed Acquisition on the terms described above or at all because of a number of factors, including, without limitation, (i) the occurrence of any event, change or other circumstances that could give rise to the termination of the Asset Purchase Agreement, (ii) the failure of the parties to satisfy the closing conditions to the Acquisition and (iii) the effect of the announcement of the Acquisition on the ability of the parties to retain and hire key personnel and maintain their operating results and business generally. Actual results may differ materially from those express or implied in the forward-looking statements as a result of a number of factors, including but not limited to those risks described from time to time in our filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. Bridge undertakes no duty to publicly update any forward-looking statements herein, on the webcast/conference call, or otherwise, whether as a result of new information, future developments or otherwise, except as required by law. Nothing in this report constitutes an offer to sell or solicitation of an offer to buy any securities of Bridge or any investment fund managed by Bridge or its affiliates.

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**<u>SIGNATURES</u>**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| BRIDGE INVESTMENT GROUP HOLDINGS INC. | BRIDGE INVESTMENT GROUP HOLDINGS INC. |
| By: | /s/ Jonathan Slager |
| Name: | Jonathan Slager |
| Title: | Chief Executive Officer |

---

Date: February 14, 2023

## Exhibit 99.1

**Exhibit 99.1**&nbsp;&nbsp;&nbsp;&nbsp;

![image.jpg](image.jpg)

**BRIDGE INVESTMENT GROUP HOLDINGS INC. REPORTS FOURTH QUARTER AND FULL YEAR 2022 RESULTS**

SALT LAKE CITY, UTAH—February 14, 2023—Bridge Investment Group Holdings Inc. (NYSE: BRDG) ("Bridge" or the "Company") today reported its financial results for the fourth quarter and year ended December 31, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;

**Net Income** was $18.2 million and $272.4 million for the quarter and year ended December 31, 2022, respectively. On a basic and diluted basis, net (loss) income attributable to Bridge per share of Class A common stock was $(0.04) and $0.92, respectively.

**Distributable Earnings** of Bridge Investment Group Holdings LLC (the "Operating Company") was $35.6 million, or $0.21 per share after-tax, for the quarter ended December 31, 2022 and $187.9 million, or $1.10 per share after-tax, for the year ended December 31, 2022. Fee Related Earnings to the Operating Company were $30.9 million and $158.3 million for the quarter and year ended December 31, 2022, respectively.

Robert Morse, Bridge's Executive Chairman, remarked "Bridge delivered another strong year of financial results despite a challenging macroeconomic environment. We achieved record closes for three of our specialized strategies with Debt Strategies IV at $2.9 billion, Multifamily V at $2.3 billion and Workforce & Affordable Housing II at $1.7 billion, highlighting the confidence investors place in our best-in-class investment teams. Our newer strategies continue to scale as demonstrated by the $1.3 billion of gross capital deployed by our logistics team, a strong portfolio of over 3,300 homes in our Single-Family Rental platform, and a growing Net Lease Income vehicle. Looking forward, we're excited about the compelling opportunities for our Renewable Energy and PropTech strategies, as ESG and technological solutions become more critical for the real estate industry."

Jonathan Slager, Bridge's Chief Executive Officer, added "Bridge's specialized investment approach, vertically integrated business model, and focus on value-add strategies continues to be a strength in a difficult market. The structure of our fund capital allows us to be patient and selective while also nimble to take advantage of opportunities generated from market dislocations. We demonstrated this within our Debt Strategies vertical, investing over $1.2 billion opportunistically from 2Q to 4Q 2022, and have $3.5 billion of dry powder across our funds to invest at what we think will be an attractive point in the cycle."

**Common Dividend**

Bridge declared a quarterly dividend of $0.17 per share of its Class A common stock, payable on March 24, 2023 to its Class A common stockholders of record at the close of business on March 10, 2023.

**Newbury Transaction**

In a separate press release issued today, Bridge announced it has entered into a definitive agreement to acquire substantially all of the business of Newbury Partners LLC, an investment manager that specializes in acquiring limited partnership interests through secondary transactions, for $320.1 million. The transaction will add significant assets to the Bridge platform, while enabling Bridge to expand into the rapidly growing private equity secondaries market. The transaction is expected to close in the first half of 2023 and is subject to customary closing conditions, including regulatory and investor approvals.

**Additional Information**

Bridge Investment Group Holdings Inc. issued a full detailed presentation of its fourth quarter and full year 2022 results, which can be viewed on the Investors section of our website at www.bridgeig.com. The presentation is titled "Fourth Quarter 2022 Earnings Presentation."

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**Conference Call and Webcast Information**

The Company will host a conference call on February 14, 2023 at 8:30 a.m. ET to discuss its fourth quarter and full year 2022 results. Interested parties may access the conference call live over the phone by dialing 1-877-405-1210 (domestic) or 1-201-689-8721 (international) and requesting Bridge Investment Group Holdings Inc.'s Fourth Quarter 2022 Earnings Conference Call. Participants are asked to dial in a few minutes prior to the call to register for the event. The event will also be available live via webcast which can be accessed here or from our Investor Relations website https://ir.bridgeig.com.

An audio replay of the conference call will be available approximately three hours after the conference call until 11:59 p.m. ET on February 28, 2023 and can be accessed by dialing 1-877-660-6853 (domestic) or 1-201-612-7415 (international), and providing the passcode 13736320.

**About Bridge Investment Group**

Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $43.3 billion of assets under management as of December 31, 2022. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: residential rental, office, development, logistics properties, net lease, real estate-backed credit, renewable energy and proptech.

**Forward-Looking Statements**

This earnings release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future events or our future performance or financial condition. All statements other than statements of historical facts may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "outlook," "could," "believes," "expects," "potential," "opportunity," "continues," "may," "will," "should," "over time," "seeks," "predicts," "intends," "plans," "estimates," "anticipates," "foresees" or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. Accordingly, we caution you that any such forward-looking statements are based on our beliefs, assumptions and expectations as of the date made, taking into account all information available to us at that time. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties that are difficult to predict and beyond our control. Actual results may differ materially from those express or implied in the forward-looking statements as a result of a number of factors, including but not limited to those risks described from time to time in our filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. Bridge undertakes no duty to publicly update any forward-looking statements made herein or on the webcast/conference call or otherwise, whether as a result of new information, future developments or otherwise, except as required by law.

Nothing in this press release constitutes an offer to sell or solicitation of an offer to buy any securities of the Company or any investment fund managed by the Company or its affiliates.

------

**Shareholder Relations:**

Bonni Rosen

Bridge Investment Group Holdings Inc.

<u>shareholderrelations@bridgeig.com</u>

**Media:**

Charlotte Morse

Bridge Investment Group Holdings Inc.

(877) 866-4540

<u>charlotte.morse@bridgeig.com</u>

Jonathan Keehner / Kara Brickman / Erik Carlson

Joele Frank, Wilkinson Brimmer Katcher

(212) 355-4449

![](brdg20221231ex991earning001.jpg)

February 14, 2023 4th Quarter and Full Year 2022 Earnings Presentation

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![](brdg20221231ex991earning002.jpg)

2 DISCLAIMER The information contained herein does not constitute or form part of, and should not be construed as, an offer or invitation to subscribe for, underwrite or otherwise acquire, any securities of Bridge Investment Group Holdings Inc. ("Bridge" or the "Company") or any affiliate of Bridge, or any fund or other investment vehicle managed by Bridge or an affiliate of Bridge. This presentation should not form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of Bridge or any fund or other investment vehicle managed by Bridge or an affiliate of Bridge, or in connection with any other contract or commitment whatsoever. This presentation does not constitute a "prospectus" within the meaning of the Securities Act of 1933, as amended. Any decision to purchase securities of Bridge or any of its affiliates should be made solely on the basis of the information contained in a prospectus to be issued by Bridge in relation to a specific offering. Forward-Looking Statements This presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation may be forward-looking statements. Statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operations, including, among others, statements regarding expected growth, capital raising, expectations or targets related to financial and non-financial measures, future capital expenditures, fund performance and debt service obligations, are forward-looking statements. In some cases, you can identify forward-looking statements by terms, such as "may," "will," "should," "expects," "plans," "seek," "anticipates," "plan," "forecasts," "outlook," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict and beyond our ability to control. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. If one or more events related to these forward-looking statements or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. Many of the important factors that will determine these results are beyond our ability to control or predict. We believe these factors include but are not limited to those risk factors described under the section entitled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2021, filed with the United States Securities and Exchange Commission (the "SEC") on March 18, 2022, which will be updated upon filing our Annual Report on Form 10-K for the year ended December 31, 2022, accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements included in this report and our other filings. You should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as otherwise required by law, we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. New factors emerge from time to time, and it is not possible for us to predict which will arise. We cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Industry Information Unless otherwise indicated, information contained in this presentation concerning our industry, competitive position and the markets in which we operate is based on information from independent industry and research organizations, other third-party sources and management estimates. Management estimates are derived from publicly available information released by independent industry analysts and other third-party sources, as well as data from our internal research, and are based on assumptions made by us upon reviewing such data, and our experience in, and knowledge of, such industry and markets, which we believe to be reasonable. In addition, projections, assumptions and estimates of the future performance of the industry in which we operate and our future performance are necessarily subject to uncertainty and risk due to a variety of factors, which could cause results to differ materially from those expressed in the estimates made by the independent parties and by us. Non-GAAP Financial Measures This presentation uses financial measures that are not presented in accordance with generally accepted accounted principles in the United States ("GAAP"), such as Distributable Earnings, Fee Related Earnings, Fee Related Revenues and Performance Related Earnings, to supplement financial information presented in accordance with GAAP. There are limitations to the use of the non-GAAP financial measures presented in this presentation. For example, the non-GAAP financial measures may not be comparable to similarly titled measures of other companies. Other companies may calculate non-GAAP financial measures differently than the Company, limiting the usefulness of those measures for comparative purposes. Throughout this presentation, all current period amounts are preliminary and unaudited.

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![](brdg20221231ex991earning003.jpg)

3 GAAP INCOME STATEMENT GAAP Consolidated and Combined Statements of Operations (Unaudited) Three Months Ended December 31, Year Ended December 31, ($ in thousands, except shares and per share amounts) 2022 2021 2022 2021 Revenues: Fund management fees $55,408 $49,965 $221,584 $155,928 Property management and leasing fees 19,527 16,062 76,210 69,654 Construction management fees 3,246 2,304 10,973 8,292 Development fees 1,651 1,136 4,688 3,703 Transaction fees 5,033 31,598 56,205 75,073 Fund administration fees 3,925 — 15,031 — Insurance premiums 4,208 3,605 12,856 10,051 Other asset management and property income 2,475 2,649 11,502 7,313 Total revenues 95,473 107,319 409,049 330,014 Investment income: Incentive fees — 1,559 — 2,469 Performance allocations: realized 4,455 8,786 69,280 80,970 Performance allocations: unrealized (4,437) 137,638 115,175 248,647 Earnings from investments in real estate 60 333 2,169 2,132 Total investment income 78 148,316 186,624 334,218 Expenses: Employee compensation and benefits 47,489 41,487 196,629 142,707 Incentive fee compensation — 133 — 215 Performance allocations compensation: realized 349 515 4,396 6,611 Performance allocations compensation: unrealized 3,856 20,910 24,870 31,069 Loss and loss adjustment expenses 1,125 3,729 6,520 8,075 Third-party operating expenses 6,033 7,102 25,675 33,427 General and administrative expenses 11,108 8,619 41,070 24,815 Depreciation and amortization 713 651 2,936 2,830 Total expenses 70,673 83,146 302,096 249,749 Other income (expense): Realized and unrealized gains, net (100) 705 4,215 9,368 Interest income 3,402 1,093 7,867 3,265 Other income (expense), net 1,246 (1,723) 1,246 (1,723) Interest expense (3,571) (1,957) (12,340) (8,504) Total other income (expense) 977 (1,882) 988 2,406 Income before provision for income taxes 25,855 170,607 294,565 416,889 Income tax provision (7,610) (4,821) (22,195) (8,262) Net income 18,245 165,786 272,370 408,627 Net income attributable to non-controlling interests in Bridge Investment Group Holdings LLC 299 85,259 88,141 155,922 Net income attributable to Bridge Investment Group Holdings LLC 17,946 80,527 184,229 252,705 Net income attributable to Common Control Group prior to Transactions and IPO — — — 117,971 Net income attributable to non-controlling interests in Bridge Investment Group Holdings Inc. subsequent to Transactions and IPO 18,385 67,604 156,960 111,508 Net income (loss) attributable to Bridge Investment Group Holdings Inc. subsequent to Transactions and IPO $(439) $12,923 $27,269 $23,226 Earnings (loss) per share of Class A common stock - Basic and Diluted1 $(0.04) $0.52 $0.92 $0.93 Weighted-average shares of Class A common stock outstanding - Basic and Diluted1 24,373,172 22,742,137 23,928,408 22,515,868 Financial Results • GAAP Net Income was $18.2 million and $272.4 million for the 4th quarter and FY 2022, respectively • GAAP Net Income (Loss) attributable to Bridge Investment Group Holdings Inc. was $(0.4) million and $27.3 million for the 4th quarter and FY 2022, respectively • Earnings (loss) per share of Class A common stock - basic and diluted was $(0.04) and $0.92 for the 4th quarter and FY 2022, respectively 1 For the quarter and year ended December 31, 2021, the earnings per share amounts are for the period following the Transaction and IPO from July 16, 2021 through December 31, 2021. Refer to Notes 1 and 19 of the Form 10-K for further information.

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![](brdg20221231ex991earning004.jpg)

4 Financial Highlights 4TH QUARTER AND FULL YEAR 2022 OVERVIEW Key Operating Metrics Business Update • Declared quarterly dividend of $0.17 per share of Class A common stock, payable on March 24, 2023 to stockholders of record on March 10, 2023 • On January 31, 2023, the Company upsized its existing Senior Secured Credit Facility ("Credit Facility"), increasing it from $125 million to $225 million • During January 2023, the Company completed the final closing of our Multifamily Fund V, which raised $2.26 billion in equity commitments, the largest dedicated value-add multifamily fund ever raised • At the end of Q4 2022, the Company had $3.5 billion of dry powder across all fund verticals of which 67% is tied to our Multifamily and Workforce & Affordable Housing vehicles 1 For the year ended December 31, 2021 the pro forma information assumes the Transactions and IPO occurred prior to reported period. ($ in MM, except per share data or as noted) Q4 2022 Q4 2021 YoY Change % FY 2022 FY 2021 YoY Change % Total Revenue $95.5 $107.3 (11)% $409.0 $330.0 24% GAAP Net Income $18.2 $165.8 (89)% $272.4 $408.6 (33)% Earnings (Loss) per share $(0.04) $0.52 (108)% $0.92 $0.93 (1)% Fee Related Earnings ("FRE") to the Operating Company1 $30.9 $35.5 (13)% $158.3 $105.3 50% Distributable Earnings ("DE") of the Operating Company1 $35.6 $38.7 (8)% $187.9 $134.6 40% After-tax DE per share1 $0.21 $0.26 (19)% $1.10 $0.89 24% Q4 2022 Q4 2021 YoY Change % FY 2022 FY 2021 YoY Change % Gross AUM $43.3 Bn $36.3 Bn 19% $43.3 Bn $36.3 Bn 19% Fee-Earning AUM $17.3 Bn $13.4 Bn 30% $17.3 Bn $13.4 Bn 29% Capital Raised $0.5 Bn $2.3 Bn (77)% $4.5 Bn $5.0 Bn (10)% Capital Deployed $1.0 Bn $2.1 Bn (52)% $3.2 Bn $4.6 Bn (30)% Dry Powder $3.5 Bn $2.7 Bn 30% $3.5 Bn $2.7 Bn 30% Realized Performance Allocations $4.5 $10.3 (57%) $69.3 $83.4 (17)% Unrealized Accrued Performance Allocations $554.7 $439.5 26% $554.7 $439.5 26%

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![](brdg20221231ex991earning005.jpg)

5 $10.3 $14.5 $20.0 $25.2 $36.3 $43.3 2017 2018 2019 2020 2021 2022 Gross Assets Under Management (AUM) ($ in Bn) Fee-Earning Assets Under Management (FEAUM) ($ in Bn) PROVEN RECORD OF STRONG AND STEADY GROWTH ~33% 5-Yr CAGR (2017 – 2022) ~19% YoY Growth (4Q'21 vs 4Q'22) $4.3 $5.8 $8.7 $10.2 $13.4 $17.3 2017 2018 2019 2020 2021 2022 ~32% 5-Yr CAGR (2017 – 2022) ~30% YoY Growth (4Q'21 vs 4Q'22)

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6 $77 $108 $181 $166 $254 $320 Recurring Fund Management Fee Revenue Catchup Fund Management Fee Revenue Transaction and Other Fee Revenue 2017 2018 2019 2020 2021 2022 $98 $138 $246 $232 $330 $409 2017 2018 2019 2020 2021 2022 Total Revenues ($ in MM) Fee-Related Revenue ($ in MM) PROVEN RECORD OF STRONG AND STEADY GROWTH ~33% 5-Yr CAGR (2017 – 2022) ~24% YoY Growth (4Q'21 vs 4Q'22) Fund Mgmt. Fees (Recurring & Catchup): ~36% 5-Yr CAGR (2017 – 2022) Total Fee-Related Revenue: ~33% 5-Yr CAGR (2017 – 2022) 1 Netted out for placement agent fees (allocated pro rata between recurring and catch-up fund management fees). 1 1

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7 NON-GAAP FINANCIAL MEASURES Fee Related Earnings • Growth driven by continued FEAUM growth Fee Related Revenues • Strong growth in recurring fund management fees driven by 30% year-over- year increase in FEAUM for the 4th quarter 2022 • Includes fund administration fees from internalization of fund administration Realized Performance Fees • Performance fees were driven by realizations in the Multifamily vertical Three Months Ended December 31, Year Ended December 31, 2022 2021 YoY % growth 2022 2021 YoY % growth($ in thousands) Pro Forma Fund-level fee revenues Fund management fees $55,408 $49,965 $221,584 $155,945 Transaction fees 5,033 31,598 56,205 75,073 Total net fund-level fee revenues 60,441 81,563 (26) % 277,789 231,018 20 % Net earnings from Bridge property operators 4,164 2,469 10,504 11,519 Development fees 1,651 1,136 4,688 3,703 Fund administration fees 3,925 — 15,031 — Other asset management and property income 2,475 2,649 11,502 7,313 Fee Related Revenues 72,656 87,817 (17) % 319,514 253,553 26 % Cash-based employee compensation and benefits (29,351) (31,228) (126,252) (96,113) Net administrative expenses (7,968) (6,507) (28,334) (16,971) Fee Related Expenses (37,319) (37,735) (154,586) (113,084) Total Fee Related Earnings 35,337 50,082 (29) % 164,928 140,469 17 % Less: Total Fee Related Earnings attributable to non-controlling interests (4,424) (14,568) (6,603) (35,199) Total Fee Related Earnings to the Operating Company 30,913 35,514 (13) % 158,325 105,270 50 % Fund level performance fee revenues Realized performance allocations and incentive fees 4,455 10,345 (57) % 69,280 83,439 (17) % Realized performance allocations and incentive fees compensation (349) (648) (4,396) (5,155) Net realized performance allocations attributable to non-controlling interests (2,357) (5,913) (39,320) (48,133) Net insurance income (loss) 3,083 (124) 6,336 1,976 Earnings (losses) from investments in real estate1 60 333 2,169 2,092 Net interest income (expense) and realized gain (loss) (168) (848) (4,472) (4,853) Distributable Earnings attributable to the Operating Company $35,637 $38,659 (8) % $187,922 $134,636 40 % Distributable After-Tax Earnings per share of Class A common stock - Basic and Diluted $0.21 $0.26 $1.10 $0.89 Weighted-average shares of Class A common stock outstanding - Basic and Diluted 24,373,172 22,742,137 23,928,408 22,515,868 1 Earnings from investments in real estate is offset by interest expense related to GP Lenders.

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4TH QUARTER FINANCIAL RESULTS

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9 $1,657 $175 $1,056 $1,493 $2,307 $1,101 $1,498 $1,345 $518 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 • $518 million of capital raised in Q4 2022 driven by Multifamily, Development, Agency MBS, Net Lease Income and Logistics • For the FY 2022, raised $4.5 billion of capital in across the firm, focused primarily in Multifamily, Debt, Workforce & Affordable Housing and Development • $980 million of deployment in Q4 2022, driven by Debt, Logistics and Net Lease Income • During FY 2022 the funds deployed $3.2 billion primarily in our Debt, Multifamily, Workforce & Affordable Housing, Logistics and Net Lease Income Capital Raised ($ in MM) FEE EARNING AUM DRIVERS Deployment ($ in MM) Fee-Earning Assets Under Management ($ in Bn) Total AUM: $25 $26 $29 $32 $36 $39 $42 $44 $43 $1,137 $212 $998 $1,303 $2,060 $639 $938 $633 $980 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $10.2 $10.3 $10.8 $12.1 $13.4 $14.7 $15.5 $16.6 $17.3 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022

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10 Management Fees ($ in MM) FEE RELATED REVENUE SUMMARY Transaction Fees ($ in MM) All Other Fees ($ in MM) • Fund management fees includes $28.6 million of Catch-Up Fees in FY 2022 which is an 85% increase over FY 2021, these fees are primarily driven by the final capital closes for Debt Fund IV and Workforce Fund II, plus the ongoing fundraise for Multifamily Fund V • All Other Fees includes Fund administration fees which the Operating Company began earning in Q1 2022, these fees total $3.9 million and $15.0 million for the fourth quarter and FY 2022, respectively Fee Related Revenue ($ in MM) $19 $5 $16 $22 $32 $22 $18 $12 $5 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $32 $31 $35 $41 $50 $53 $49 $64 $55 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $3 $4 $5 $8 $6 $10 $9 $11 $12 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $54 $40 $56 $70 $88 $84 $76 $86 $73 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022

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11 1 Weighted-average fund life for closed-end funds as of December 31, 2022. 2 Weighted-average fund life for closed-end funds as of December 31, 2021. 3 As of December 31, 2022. LONG DURATION CAPITAL DRIVES FEE VISIBILITY FEAUM by Remaining Duration3 • $4.5 billion raised in 2022 continues to drive strong recurring Fund Management Fee growth which increased by 37% year-over-year • Capital commitments raised in 4th quarter averaged 11.2 years in duration • In addition to fund lives increasing in duration, we have two open-end funds – Agency MBS and Net Lease Income • Our weighted-average FEAUM by remaining duration is 7.7 years1 versus 8.0 years2 as of December 31 10+ Years, 31% 7-10 Years, 31% 5-7 Years, 12% 3-5 Years, 19% 0-3 Years, 4% Perpetual, 3%

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12 Total Revenues & GAAP Net Income ($ in MM) 1All earnings prior to Q3 2021 are on a pro forma basis; assumes the Transactions and IPO occurred prior to reported period. 4TH QUARTER AND FULL YEAR – EARNINGS SUMMARY Fee Related Earnings & Distributable Earnings to the Operating Company ($ in MM)1 • Fee Related Earnings driven by continued FEAUM growth and healthy margins - FY 2022 impacted by timing of catch-up and transaction fees • FY 2022 includes the impact of collapsing the 2019 profits interests which has been accretive to the Operating Company Fee Related Earnings & Margin ($ in MM) $31 $18 $31 $42 $50 $45 $40 $45 $35 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $72 $59 $72 $92 $107 $104 $99 $110 $95$93 $41 $83 $119 $166 $98 $124 $32 $18 Total Revenues GAAP Net Income Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $23 $15 $25 $30 $36 $45 $40 $42 $31$34 $17 $37 $42 $39 $48 $55 $50 $36 Fee Related Earnings attributable to Operating Company Distributable Earnings attributable to Operating Company Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 57% 44% 55% 60% 57% 54% 52% 52% 49%Margin:

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13 $199 $203 $247 $302 $440 $505 $576 $559 $555 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 +178% (58% CAGR) PERFORMANCE FEE SUMMARY Net Unrealized Performance Allocations by Vintage2Accrued Performance Allocations1 ($ in MM) 1 Based on fair value one quarter in arrears. All earnings prior to Q3 2021 are on a pro forma basis; assumes the Transactions and IPO occurred prior to reported period. 2 As of December 31, 2022. Performance Fees & Realizations ($ in MM) • Carry-eligible AUM of $17.3 billion, over 99% of FEAUM • Accrued performance allocations attributable to the operating company is $210.8 million • Pipeline for future performance-driven Distributable Earnings is significant • Quarterly realization pace and performance fees will vary based upon market conditions $28.5 $6.5 $35.6 $31.0 $10.3 $8.9 $33.6 $21.0 $4.1 Net performance fees to the Operating Company - realized Gross performance fees to the Operating Company - realized Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2015 11.7% 2016 2.6% 2017 18.7% 2018 58.5% Post 2018 8.5%

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14 COMPELLING FUND-LEVEL TRACK RECORD This is a summary only. Please refer to Appendix for the Notes to Performance Summary on slide 39 for additional information. • Continued strong performance for residential housing funds driven by Bridge's vertical integration approach • Performance is driving demand for new commitments in our newly launched vehicles • Multifamily Funds II, III, IV, Workforce Housing Fund I, Debt Funds II and III were ranked in the first quartile by Preqin1 • Excludes performance for strategies currently raising capital including: Multifamily, Logistics, Net Lease Income, Single-Family Rental, Development, Agency MBS, Renewable Energy & PropTech 1Includes value-add strategies as of Q3 2022. Preqin rankings based on self-reported data and do not imply an endorsement from Preqin or any other organization. As of December 31, 2022 Closed-End Funds Investor Levered Investor Unlevered (Investment Period Beginning, Ending Date) Net IRR Net IRR Equity Strategies Funds Multifamily Bridge Multifamily I (Mar 2009, Mar 2012) 15.1 % 15.1 % Bridge Multifamily II (Apr 2012, Mar 2015) 23.0 % 22.5 % Bridge Multifamily III (Jan 2015, Jan 2018) 20.5 % 19.8 % Bridge Multifamily IV (Jun 2018, Jun 2021) 25.4 % 24.5 % Total Multifamily Funds 21.5 % 21.0 % Workforce & Affordable Housing Bridge Workforce Housing I (Aug 2017, Aug 2020) 20.6 % 20.6 % Bridge Workforce Housing II (Aug 2020, to present) 0.3 % 0.9 % Total Workforce & Affordable Housing Funds 15.7 % 15.2 % Seniors Housing Bridge Seniors I (Jan 2014, Jan 2018) 0.5 % 0.6 % Bridge Seniors II (Mar 2017, Mar 2020) 5.2 % 5.2 % Bridge Seniors III (Nov 2020, to present) 2.1 % 2.1 % Total Seniors Housing Funds 2.6 % 2.6 % Office Bridge Office I (Jul 2017, Jul 2020) (2.6) % (2.3) % Bridge Office II (Dec 2019, Dec 2022) 16.1 % 14.6 % Total Office Funds 0.3 % 0.6 % Debt Strategies Funds Bridge Debt I (Sep 2014, Sep 2017) 5.5 % 5.5 % Bridge Debt II (Jul 2016, Jul 2019) 8.7 % 8.6 % Bridge Debt III (May 2018, May 2021) 9.0 % 8.9 % Bridge Debt IV (Nov 2020, to present) 6.2 % 5.4 % Total Debt Strategies Funds 8.3 % 8.0 %

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15 $0.41 $0.52 $0.35 $0.44 $0.17 $(0.04) Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 DISTRIBUTABLE EARNINGS AND CAPITALIZATION Balance Sheet ($ in MM) As of December 31, 2022 After-Tax Distributable Earnings Per Share2 1 Prior to the Company's IPO in July 2021, no earnings per share information is available. 2 All earnings prior to Q3 2021 are on a pro forma basis; assumes the Transactions and IPO occurred prior to reported period. $0.24 $0.12 $0.25 $0.26 $0.26 $0.28 $0.32 $0.29 $0.21 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Assets Cash and cash equivalents $183.6 Restricted cash 9.7 Marketable securities, at fair value 14.6 Receivables from affiliates 53.8 Notes receivable from affiliates 67.2 Other assets 70.5 Other investments 85.5 Accrued performance allocations 554.7 Intangible assets, net 4.9 Goodwill 56.0 Deferred tax assets, net 54.4 Total assets $1,154.8 Liabilities Accrued performance allocations compensation $66.8 Accrued compensation and benefits 15.6 Accounts payable and accrued expenses 24.9 Due to affiliates 52.0 General partner notes payable, at fair value 8.6 Insurance loss reserves 9.4 Self-insurance reserves and unearned premiums 3.5 Other liabilities 30.4 Notes payable 297.3 Total liabilities $508.5 Earnings (Loss) Per Share of Class A Common Stock - Basic and Diluted1 N/A N/A N/A

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INTRODUCTION TO BRIDGE

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17 Multifamily 22.2% Workforce & Affordable Housing 12.6% Seniors Housing 9.5% Single-Family Rental 2.3% Development 12.3% Office 6.0% Logistics 1.6% Net Lease Income 1.3% Debt 26.8% Agency MBS 5.4% INTRODUCING BRIDGE INVESTMENT GROUP A leading vertically integrated investment manager, diversified across specialized asset classes Nationwide, "boots on the ground" team and scalable infrastructure with active asset management, property management, leasing, and construction management Ranked #13 global private equity real estate firm (June 2022) & #14 global real estate debt fund manager (May 2022) for fundraising by PERE Loyal global investor base with ~$18.3Bn of capital raised over the last five years2 Key Stats1 $43.3Bn Gross AUM ~$625MM+ Principal, Employee, and Affiliate Capital Commitments FY 2022 Pre-Tax Distributable Earnings $188MM AUM by Strategy1 Equity Strategies Debt Strategies FY17-FY22 Fee-Related Earnings CAGR ~34% Experienced and aligned management team leading a deep and talented organization Track record of strong organic and inorganic growth with proven ability to grow new business lines 1 As of December 31, 2022. 2 From January 1, 2018 through December 31, 2022.

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18 Strong Tailwinds from Favorable Industry Trends Diversified and Synergistic Business Model Spanning Residential Rental, Office, Development, Logistics, Real Estate-Backed Credit, Renewable Energy and PropTech Vertically Integrated Business Model and Scalable Infrastructure Drive Competitive Advantages and Attractive Investment Returns National Footprint with High-Touch Operating Model and Local Expertise High Proportion of Recurring Fees and "Sticky" Contractual Revenue Streams from Long-duration Capital Proven Record of Fundraising Success with a Loyal Investor Base Significant Organic and Inorganic Opportunities to Accelerate Growth Long-tenured Senior Management Team with High Alignment and Support of Deep and Talented Employee Pool BRIDGE INVESTMENT GROUP KEY INVESTMENT HIGHLIGHTS

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19 Bridge has continued to expand into high-growth asset classes to complement existing investment verticals THREE NEW INVESTMENT STRATEGIES LAUNCHED WITHIN THE LAST YEAR • Investment Strategy: In partnership with Lumen Energy, seeks to create value through the production of clean energy by building and operating renewable energy infrastructure on existing commercial properties, while at the same time providing owners and tenants a discount to market energy prices • Market Opportunity: Participation in a growing sector with anticipated strong demand for green energy fueled by price sensitivity, environmental awareness and regulatory pressure • Team Experience: The Bridge Renewable Energy principals have more than 60+ years of collective experience and relationships across the real estate industry in multiple asset classes as well as decades of experience in commercializing & financing energy technologies that have led to the development of over 600 MW of onsite power generation systems for major property owners. Renewable Energy PropTech • Investment Strategy: Seeks to identify and invest in transformative real estate technology companies (i.e., PropTech) that are positioned to drive revenue and operating improvements in the built world • Market Opportunity: Real estate owners are adopting PropTech solutions in a significant way in the post-pandemic era, catalyzed by the growth of e-commerce, remote workplaces, ESG adoption and the digitization of real estate • Team Experience: The Bridge Ventures team brings over 25 years of relevant experience in technology, real estate investing and building and operating high growth technology companies with on-the-ground technology and real estate experience providing differentiated capabilities to source, evaluate, identify, and scale future high growth companies Single- Family Rental • Investment Strategy: Bridge acquired the majority ownership of the management platform of Gorelick Brothers Capital and launched a single-family rental strategy within Bridge ("Bridge Homes"). Bridge Homes has been seeded with a portfolio of approximately 2,700 homes in 14 markets, concentrated in the Sunbelt and certain Midwest markets of the United States and seeks to construct a recession resilient portfolio across build-to-rent, bulk purchases, and 1x1 acquisitions • Market Opportunity: Continued lack of affordable housing backed by demographic tailwinds and a fragmented single- family rental market with low institutional ownership approximating only 2% • Team Experience: The single-family rental team is made up of industry pioneers with a demonstrated ability to source, manage, and scale single-family rental assets

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20 VERTICALLY INTEGRATED BUSINESS MODEL DRIVES COMPETITIVE ADVANTAGES AND ATTRACTIVE INVESTMENT RETURNS Operational impact and alpha generation enhanced by collaborative teams Bridge's operational expertise extends beyond asset management and includes a full spectrum of alpha-generating services Bridge's ability to offer specialized operational capabilities translates directly to investor returns

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21 DIFFERENTIATED DATA-DRIVEN INVESTMENT STRATEGY ENABLED BY SPECIALIZED UNDERWRITING CAPABILITIES Data-Driven Top-Down Investment Strategy Bottom-up Underwriting Capabilities 1 Such as higher household formation growth or higher office-using employment growth. Analytics & Geospatial Models Yardi Customizations to Drive Multifamily Alpha Bridge's deep expertise and vertically integrated platform facilitate a comprehensive top-down investment strategy supported by specialized asset level underwriting u Nationwide on-the-ground footprint allows Bridge to uncover the most attractive opportunities in its target markets u Proprietary Bridge business intelligence tool supports both underwriting of new investments & value maximization of investments u Benefits across investment strategies: for example, Bridge Multifamily property management team conducts physical due diligence of multifamily assets for potential loan investments by Debt Strategies u Utilizes a comprehensive, data-driven approach to analyze macroeconomic trends & identify compelling investment opportunities u Analytical metrics include detailed demand forecasts, supply forecasts and marking pricing, all at the local level u Extensive underwriting and transactional experience helps secure off-market deals u Bridge's identified "target markets" are projected to outperform substantially on key metrics1

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22 AUM MIX IS WELL DIVERSIFIED ACROSS OUR STRATEGIES Gross AUM1 Fee-Earning AUM1 Multifamily 22% Workforce & Affordable Housing 13% Seniors Housing 10% Single-Family Rental 2% Development 12% Office 6% Logistics 2% Net Lease Income 1% Debt 27% Agency MBS 5% Multifamily 21% Workforce & Affordable Housing 13% Seniors Housing 9% Single-Family Rental 2% Development 22% Office 5% Logistics 2% Net Lease Income 1% Debt 24% Agency MBS 1% 1 As of December 31, 2022.

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23 Individual 56% Institutional 44% BALANCED INVESTOR BASE Fund Investor by Geography1 Fund Investor by Type1 Bridge's Client Solutions Group maintains deep institutional and retail investor relationships and has built an impressive track record of raising capital and driving growth u During FY 2022, 48% of capital was raised internationally and 61% came from institutional investors u Deep and broad individual investors relationships driven in part by relationships with some of the largest wirehouses and RIAs in the world u During FY 2022, 32 new prominent global institutional investors finalized fund commitments u AIFM license in Luxembourg approved July 2022, which has opened up marketing efforts for real estate funds in Europe in a more direct and efficient manner US 65% Rest of World 35% 1 Based on committed capital as of December 31, 2022.

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24 High Proportion of Repeat Investors1, 2 High Proportion of Investors Invested Across Multiple Funds1 LP Composition1 1 Based on committed capital as of December 31, 2022. 2 Repeat investors groups investors coming through wirehouse platforms as one repeat investor as of December 31, 2022. TRACK RECORD OF FUNDRAISING SUCCESS WITH A LOYAL INVESTOR BASE Bridge enjoys a diverse investor base with many repeat investors u Bridge has succeeded in penetrating key institutional segments (e.g., sovereign wealth funds, pension funds, insurance) as a complement to its extensive high-net-worth relationships u Continued success gathering assets across wirehouses driven by strong investment results, excellent client service and positioning as a sector specialist Non-Repeat 26.1% Repeat Investors 73.9% Invested Across Multiple Funds 57.5% Invested in Single Fund 42.5% Wealth Management 35.2% SWF, Pension 20.8% Family Office, HNW, RIA 18.3% Insurance, Bank, Foundation 14.6% Fund of Funds 8.7% Employees 2.4%

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25 ESG INITIATIVES ARE CORE TO OUR CULTURE Our commitment to ESG spans our organization as we seek to analyze, integrate and report ESG metrics across our assets, investments, and practices. Select Associations Select ESG Awards3 2021 Pension Bridge ESG Strategy of the Year Award 2021 ESG Investing Awards: Private Equity 2021 & 2022 Environmental Finance Social Fund of the Year 1 For our Workforce and Affordable Housing Funds 2 Bridge completed its first GRESB reporting submission in 2021 for Bridge Workforce and Affordable Housing Fund I and Bridge Office Fund II and submitted its 2022 GRESB reports recently for the aforementioned funds, as well as for Bridge Multifamily Fund IV and Bridge Seniors Housing Fund II. 3 For Workforce and Affordable Housing strategy. Awards are based on self-reported data and are not intended to imply any endorsement or testimonial from any of these organizations. Social / Community & Citizenship Cross-Divisional Integration l Passionate community revitalization mindset, with dedicated social & community programming funded by the Bridge Community Enhancement Initiative ("BCEI")1, integrated into WFAH assets. l Firmwide citizenship initiatives such as Charitable Giving, Employee Engagement, and Employee Resource Groups. l Engage with CERES, NCREIF, Sorenson Impact, and PropTech firms for continuous dialogue on ESG best practices and new technologies. l Employee, resident, and tenant engagement to promote sustainable and healthy practices. l Cross-functional ESG Steering Committee and integration of business lines and leadership for decision making, opportunity assessment, and risk mitigation. l Dedicated Climate Change Task Force to increase awareness of climate risks and opportunities. l Diversity, Equity and Inclusion ("DE&I") Committee to drive progress at all levels of the organization. Measuring Reporting l Seeking to integrate ESG parameters into investment due diligence process in certain equity strategies as a defining criteria for asset, market and vendor selection. l Seeking measurement and reporting of energy, emissions, water, and waste to steadily improve environmental performance across Value-Add Multifamily, Workforce & Affordable Housing ("WFAH"), Office, and Seniors Housing strategies and communities. l Seeking alignment with industry-leading benchmarks and global frameworks such as Global Impact Investing Network's 1 ("GIIN") & UN Principles for Responsible Investment ("UNPRI"), which provides unbiased assessment of progress and best practices. l Completed GRESB reporting submissions in 2021 and 2022.2 l Support the achievement of the United Nations Sustainable Development Goals ("SDGs") in its annual ESG report and GIIN IRIS metrics for WFAH.1

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APPENDIX

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27 Appendix GAAP Consolidated Balance Sheets As of ($ in thousands) December 31, 2022 December 31, 2021 Assets Cash and cash equivalents $183,576 $78,417 Restricted cash 9,689 5,455 Marketable securities, at fair value 14,614 8,035 Receivables from affiliates 53,804 35,379 Notes receivable from affiliates 67,244 118,508 Other assets 70,466 44,463 Other investments 85,456 44,006 Accrued performance allocations 554,723 439,548 Intangible assets, net 4,894 3,441 Goodwill 55,982 9,830 Deferred tax assets, net 54,387 59,210 Total assets $1,154,835 $846,292 Liabilities and shareholdersʼ equity Accrued performance allocations compensation $66,754 $41,020 Accrued compensation and benefits 15,643 15,107 Accounts payable and accrued expenses 24,942 13,586 Due to affiliates 51,966 46,134 General Partner Notes Payable, at fair value 8,633 12,003 Insurance loss reserves 9,445 8,086 Self-insurance reserves and unearned premiums 3,453 3,504 Other liabilities 30,386 8,973 Notes payable 297,294 148,142 Total liabilities $508,516 $296,555 Total shareholdersʼ equity $646,319 $549,737 Total liabilities and shareholdersʼ equity $1,154,835 $846,292

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28 Appendix Unaudited Historical Pro Forma & Actual Non-GAAP Measures ¹ Pro forma assumes the Transactions and IPO occurred prior to reported period. Pro Forma1 Actual Three Months Ended ($ in thousands) 12/31/2020 3/31/2021 6/30/2021 9/30/2021 12/31/2021 3/31/2022 6/30/2022 9/30/2022 12/31/2022 Net income $93,171 $38,378 $84,031 $118,882 $165,786 $97,505 $124,382 $32,241 $18,245 Income tax provision 2,829 1,703 2,340 2,607 4,821 5,545 5,837 3,203 7,610 Income before provision for income taxes 96,000 40,081 86,371 121,489 170,607 103,050 130,219 35,444 25,855 Depreciation and amortization 1,198 753 727 699 651 633 887 703 713 Less: Unrealized performance allocations (49,639) (14,729) (43,204) (53,042) (137,638) (65,862) (70,116) 16,367 4,437 Plus: Unrealized performance allocations compensation 3,348 623 2,540 2,682 20,910 9,238 7,987 3,789 3,856 Less: Unrealized (gains) losses, net 225 (5,780) (317) (2,565) (705) (479) (3,483) (387) 101 Plus: Other (income) expenses, net — — — — 1,723 — — — (1,246) Plus: Share-based compensation 7,287 3,133 16,916 2,452 3,592 7,264 6,553 9,624 8,702 Less: Net realized performance allocations attributable to non-controlling interests (15,827) (4,486) (20,593) (17,142) (5,913) (6,094) (18,409) (12,460) (2,357) Less: Cash income attributable to non-controlling interests in subsidiaries (8,133) (2,648) (5,829) (12,154) (14,568) 150 977 (3,307) (4,424) Distributable Earnings attributable to the Operating Company $34,459 $16,947 $36,611 $42,419 $38,659 $47,900 $54,615 $49,773 $35,637 Realized performance allocations and incentive fees (28,493) (6,467) (35,629) (30,999) (10,345) (8,937) (33,581) (22,308) (4,455) Realized performance allocations and incentive fees compensation 1,704 429 2,223 1,855 648 560 2,165 1,321 349 Net realized performance allocations to non-controlling interests 15,827 4,486 20,593 17,142 5,913 6,094 18,409 12,460 2,357 Net insurance (income) loss (1,660) (1,108) 110 (1,101) 124 (665) (1,406) (1,183) (3,083) (Earnings) losses from investments in real estate (909) 43 (980) (823) (333) (40) (1,251) (818) (60) Net interest (income) expense and realized (gain) loss 1,751 630 1,995 1,381 848 450 1,529 2,323 168 Less: Cash income attributable to non-controlling interests in subsidiaries 8,133 2,648 5,829 12,154 14,568 (150) (977) 3,307 4,424 Total Fee Related Earnings $30,812 $17,608 $30,752 $42,028 $50,082 $45,212 $39,503 $44,875 $35,337 Less: Total Fee Related Earnings attributable to non- controlling interests (8,133) (2,648) (5,829) (12,154) (14,568) 150 977 (3,307) (4,424) Total Fee Related Earnings attributable to the Operating Company $22,679 $14,960 $24,923 $29,874 $35,514 $45,362 $40,480 $41,568 $30,913

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29 Appendix Unaudited Historical Pro Forma & Actual Non-GAAP Measures ¹ Pro forma assumes the Transactions and IPO occurred prior to reported period. Pro Forma1 Actual Three Months Ended ($ in thousands) 12/31/2020 3/31/2021 6/30/2021 9/30/2021 12/31/2021 3/31/2022 6/30/2022 9/30/2022 12/31/2022 Fund-level fee revenues Fund management fees $32,180 $30,860 $34,545 $40,576 $49,965 $52,700 $49,380 $64,096 $55,408 Transaction fees 18,574 5,326 16,242 21,907 31,598 21,998 17,643 11,532 5,033 Total net fund-level fee revenues 50,754 36,186 50,787 62,483 81,563 74,698 67,023 75,628 60,441 Net earnings from Bridge property operators 1,171 2,094 1,988 4,969 2,469 2,939 2,108 1,294 4,164 Development fees 651 386 1,163 1,018 1,136 1,259 793 986 1,651 Fund administration fees — — — — 320 3,640 3,657 3,808 3,925 Other asset management and property income 1,327 1,520 1,611 1,533 2,329 1,955 2,659 4,413 2,475 Fee Related Revenues 53,903 40,186 55,549 70,003 87,817 84,491 76,240 86,129 72,656 Cash-based employee compensation and benefits (21,653) (20,308) (21,403) (23,173) (31,228) (32,539) (30,120) (34,242) (29,351) Net administrative expenses (1,438) (2,270) (3,394) (4,802) (6,507) (6,740) (6,617) (7,012) (7,968) Fee Related Expenses (23,091) (22,578) (24,797) (27,975) (37,735) (39,279) (36,737) (41,254) (37,319) Total Fee Related Earnings 30,812 17,608 30,752 42,028 50,082 45,212 39,503 44,875 35,337 Less: Total Fee Related Earnings attributable to non-controlling interests (8,133) (2,648) (5,829) (12,154) (14,568) 150 977 (3,307) (4,424) Total Fee Related Earnings to the Operating Company 22,679 14,960 24,923 29,874 35,514 45,362 40,480 41,568 30,913 Realized performance allocations and incentive fees 28,493 6,467 35,629 30,999 10,345 8,937 33,581 22,308 4,455 Realized performance allocations and incentive fees compensation (1,704) (429) (2,223) (1,855) (648) (560) (2,165) (1,321) (349) Net realized performance allocations attributable to non-controlling interests (15,827) (4,486) (20,593) (17,142) (5,913) (6,094) (18,409) (12,460) (2,357) Net insurance income (loss) 1,660 1,108 (110) 1,101 (124) 665 1,406 1,183 3,083 Earnings (losses) from investments in real estate 909 (43) 980 823 333 40 1,251 818 60 Net interest income (expense) and realized gain (loss) (1,751) (630) (1,995) (1,381) (848) (450) (1,529) (2,323) (168) Distributable Earnings attributable to the Operating Company $34,459 $16,947 $36,611 $42,419 $38,659 $47,900 $54,615 $49,773 $35,637

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30 Appendix Unaudited Historical Pro Forma & Actual Reconciliation of Non-GAAP Distributable Earnings per Share ¹ Pro forma assumes the Transactions and IPO occurred prior to reported period. Pro Forma1 Actual Three Months Ended ($ in thousands, except per share and per share amounts) 12/31/2020 3/31/2021 6/30/2021 9/30/2021 12/31/2021 3/31/2022 6/30/2022 9/30/2022 12/31/2022 Numerator Distributable Earnings ("DE") attributable to the Operating Company $34,459 $16,947 $36,611 $42,419 $38,659 $47,900 $54,615 $49,773 $35,637 Less: DE attributable to non-controlling interest in the Operating Company (26,692) (13,127) (28,359) (33,792) (29,957) (37,380) (42,256) (38,451) (27,488) DE attributable to Bridge Investment Group Holdings Inc. 7,767 3,820 8,252 8,627 8,702 10,520 12,359 11,322 8,149 Less: Income allocated to participating Restricted Shares (676) (332) (718) (823) (743) (1,897) (2,126) (1,969) (1,405) DE available to common shareholders - Basic and Diluted 7,091 3,488 7,534 7,804 7,959 8,623 10,233 9,353 6,744 Less: Income tax expense (1,773) (872) (1,884) (1,951) (1,990) (2,156) (2,558) (2,338) (1,686) After-tax DE available to common shareholders - Basic and Diluted 5,319 2,616 5,651 5,853 5,969 6,467 7,675 7,015 5,058 Denominator Weighted-average shares of Class A Common stock outstanding - Basic and Diluted 22,284,351 22,284,351 22,284,351 22,284,351 22,742,137 23,138,030 24,029,107 24,157,236 24,373,172 After-Tax Non-GAAP Distributable Earnings Per Share Basic and Diluted $0.24 $0.12 $0.25 $0.26 $0.26 $0.28 $0.32 $0.29 $0.21

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31 Appendix Unaudited Non-GAAP to GAAP Reconciliation - Historical Pro Forma & Actual ¹ Pro forma assumes the Transactions and IPO occurred prior to reported period. Pro Forma1 Actual Three Months Ended ($ in thousands) 12/31/2020 3/31/2021 6/30/2021 9/30/2021 12/31/2021 3/31/2022 6/30/2022 9/30/2022 12/31/2022 Cash-based employee compensation and benefits $21,653 $20,308 $21,403 $23,173 $31,228 $32,539 $30,120 $34,242 $29,351 Compensation expense of Bridge property operators 6,925 6,002 6,279 6,138 6,667 7,677 10,020 11,102 9,436 Share-based compensation 7,287 3,133 16,916 2,452 3,592 7,264 6,553 9,624 8,702 Employee compensation and benefits $35,865 $29,443 $44,598 $31,763 $41,487 $47,480 $46,693 $54,968 $47,489 Administrative expenses, net of Bridge property operators $1,438 $2,270 $3,394 $4,802 $6,507 $6,740 $6,617 $7,012 $7,968 Administrative expenses of Bridge property operators 2,601 1,830 1,997 1,901 2,112 2,768 3,152 3,673 3,140 General and administrative expenses $4,039 $4,100 $5,391 $6,703 $8,619 $9,508 $9,769 $10,685 $11,108 Unrealized gains (losses) $(225) $5,780 $317 $2,565 $705 $479 $3,483 $387 $(101) Other expenses from Bridge property operators (22) (21) (19) (18) (16) (14) (13) (8) — Net interest income (expense) and realized gain (loss) (1,751) (630) (1,995) (1,381) (848) (450) (1,529) (2,323) (168) Other income (expense), net — — — — (1,723) — — — 1,246 Total other income (expense) $(1,998) $5,129 $(1,697) $1,166 $(1,882) $15 $1,941 $(1,944) $977 Cash income attributable to non-controlling interests in subsidiaries $8,133 $2,648 $5,829 $12,154 $14,568 $(150) $(977) $3,307 $4,424 Non-cash income attributable to non-controlling interest in subsidiaries — — — — — — — — (644) Realized performance allocations attributable to non-controlling interests 15,827 4,486 20,593 17,142 5,913 6,094 18,409 12,460 2,357 Unrealized performance allocations attributable to non-controlling interests 28,994 9,586 25,517 31,605 64,778 30,769 32,316 (14,386) (5,838) Net income attributable to non-controlling interests in Bridge Investment Group Holdings LLC $52,954 $16,720 $51,939 $60,901 $85,259 $36,713 $49,748 $1,381 $299

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32 Appendix AUM Roll Forward (Unaudited) FEAUM Roll Forward (Unaudited) ($ in millions) Three Months Ended December 31, 2022 Year Ended December 31, 2022 Balance as of beginning of period $16,580 $13,363 Increases (capital raised/deployment)4 870 4,693 Changes in fair market value (149) (143) Decreases (liquidations/other)5 33 (579) FEAUM as of end of period $17,334 $17,334 % Change 5 % 30 % 1 New capital / commitments raised generally represents limited partner capital raised by our funds and other vehicles, including any reinvestments in our open-ended vehicles. 2 Distributions / return of capital generally represents the realization proceeds from the disposition of assets, current income, or capital returned to investors. 3 Change in fair value and acquisitions generally represents realized and unrealized activity on investments held by our funds and other vehicles (including changes in fair value and changes in leverage) as well as the net impact of fees, expenses, and non-investment income. 4 Increases generally represents limited partner capital raised or deployed by our funds and other vehicles that is fee-earning when raised or deployed, respectively, including any reinvestments in our open- ended vehicles. 5 Decreases generally represents liquidations of investments held by our funds or other vehicles or other changes in fee basis, including the change from committed capital to invested capital after the expiration or termination of the investment period. ($ in millions) Three Months Ended December 31, 2022 Year Ended December 31, 2022 Balance as of beginning of period $43,833 $36,315 New capital / commitments raised1 486 4,337 Distributions / return of capital2 (173) (1,615) Change in fair value and acquisitions3 (854) 4,255 AUM as of end of period $43,292 $43,292 % Change (1) % 19 %

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33 Appendix FEAUM by Fund (Unaudited) December 31, ($ in millions) 2020 2021 2022 Bridge Debt Strategies Fund IV $305 $1,133 $2,381 Bridge Multifamily Fund V — 976 2,143 Bridge Workforce Fund II 166 915 1,719 Bridge Opportunity Zone Fund IV — 1,490 1,476 Bridge Multifamily Fund IV 1,574 1,284 1,347 Bridge Debt Strategies Fund III 1,549 1,286 1,028 Bridge Opportunity Zone Fund III 1,028 1,019 1,019 Bridge Seniors Housing Fund II 769 805 793 Bridge Seniors Housing Fund I 626 626 615 Bridge Workforce Fund I 499 556 556 Bridge Opportunity Zone Fund V — — 504 Bridge Opportunity Zone Fund I 482 482 482 Bridge Office Fund I 500 499 478 Bridge Opportunity Zone Fund II 408 408 408 Bridge Debt Strategies Fund II 678 354 280 Bridge Logistics U.S. Venture I — 110 256 Bridge Agency MBS Fund 104 123 245 Bridge Single-Family Rental Fund IV — — 229 Bridge Debt Strategies III JV Partners 416 308 223 Bridge Multifamily Fund III 401 269 188 Bridge Net Lease Income Fund — 29 179 Bridge Office Fund II 89 176 161 Bridge Debt Strategies II JV Partners 343 195 145 Bridge Debt Strategies IV JV Partners — 129 142 Bridge Office I JV Partners 154 130 132 Bridge Office III JV Partners — — 93 Bridge Seniors Housing Fund III 33 33 66 Morrocroft Neighborhood Fund III — — 32 Bridge Office II JV Partners 21 6 6 Bridge Debt Strategies I JV Partners 18 18 4 Bridge Multifamily III JV Partners 10 4 4 Bridge Debt Strategies Fund I 41 — — Total FEAUM by Fund $10,214 $13,363 $17,334

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34 Appendix Reconciliation of GAAP Shares of Common Stock Outstanding to Total Shares Outstanding Q4 2022 January 31, 2023 GAAP Shares of Common Stock Outstanding 24,484,585 25,055,577 Unvested Participating Shares of Common Stock 5,003,936 7,705,526 Total Participating Shares of Common Stock 29,488,521 32,761,103 Participating Partnership Units 96,085,111 98,825,923 Unvested Participating Partnership Units 3,136,544 2,421,685 Total Shares Outstanding 128,710,176 134,008,711 Shareholder Dividends ($ in thousands, except per share data) Q4 2022 Distributable Earnings Attributable to the Operating Company $35,637 Less: 10% Holdback of Profits in the Operating Company to reinvest (3,564) Less: DE attributable to non-controlling interests in Operating Company (24,519) DE before Certain Payables Attributable to Common Stockholders $7,554 Less: Other Payables Attributable to Common Stockholders (1,889) DE Attributable to Participating Common Stockholders $5,665 Total Participating Shares of Common Stock 32,761,103 DE per Share $0.17 Less: Retained Capital per Share 0.00 Dividend per Share $0.17 Record Date March 10, 2023 Payment Date March 24, 2023

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35 Appendix Reconciliation of GAAP Loss per Share to Distributable Earnings per Share Q4 2022 ($ in thousands, except per share data) Amount Weighted- Average Shares Outstanding Amount per Share Net loss available to Common Shareholders $(357) 24,373,172 $(0.04) Add: Loss allocated to unvested Participating Shares of Restricted Stock (82) Net loss attributable to Bridge Investment Group Holdings Inc. $(439) 29,449,523 $(0.04) Net income attributable to non-controlling interests in Operating Company 18,385 Net income attributable to non-controlling interests in subsidiaries of Operating Company 299 Net income $18,245 128,782,591 $0.14 Income tax provision 7,610 Income before provision for income taxes $25,855 128,782,591 $0.20 Depreciation and amortization 713 Less: Unrealized performance allocations 4,437 Plus: Unrealized performance allocations compensation 3,856 Less: Unrealized (gains) losses, net 101 Plus: Share-based compensation 8,702 Plus: Other (income) expenses, net (1,246) Less: Net realized performance allocations attributable to non-controlling interests (2,357) Less: Cash income attributable to non-controlling interests in subsidiaries (4,424) Distributable Earnings attributable to the Operating Company $35,637 128,782,591 $0.28 Less: DE attributable to non-controlling interests in the Operating Company 27,488 99,333,068 0.28 Distributable Pre-Tax Earnings attributable to Bridge Investment Group Holdings Inc. $8,149 29,449,523 $0.28 Less: Income allocated to participating Restricted Shares 1,405 Distributable Pre-Tax Earnings available to Common Shareholders $6,744 24,373,172 $0.28 Less: Income tax expense 1,686 Distributable After-Tax Earnings available to Common Shareholders $5,058 24,373,172 $0.21

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36 Appendix Profits Interests • 2019 profits interests converted on January 1, 2022 • 2020 profits interests converted on January 1, 2023 • 2021 profits interests expected to be converted on July 1, 2023 • Will result in a reduction in NCI and increase in Net Income to the Operating Company • Will result in an increase in share count; however, expected to be antidilutive to public shareholders Performance Income • The Operating Company receives 24% to 40% of the gross performance allocations Non-Controlling Interests ($ in thousands) For Three Months Ended December 31, 2022 NON-GAAP FINANCIAL MEASURES Total Fund Management Performance income Fund-level fee revenues Fund management fees $55,408 $55,408 $— Transaction fees net 5,033 5,033 — Total Fund-level fee revenues 60,441 60,441 — Net earnings from Bridge property operators 4,164 4,164 — Development fees 1,651 1,651 — Fund administration fees 3,925 3,925 — Other asset management and property income 2,475 2,475 — Fee Related Revenues 72,656 72,656 — Cash-based employee compensation and benefits (29,351) (29,351) — Net administrative expenses (7,968) (7,968) — Fee Related Expenses (37,319) (37,319) — Total Fee Related Earnings 35,337 35,337 — Total Fee Related Earnings attributable to non-controlling interests from 2020 Profits Interests (1,807) (1,807) — Total Fee Related Earnings attributable to non-controlling interests from 2021 Profits Interests (2,068) (2,068) — Total Fee Related Earnings attributable to non-controlling interests from subsidiaries of the Operating Company (549) (549) — Total Fee Related Earnings to the Operating Company 30,913 30,913 — Realized performance allocations and incentive fees 4,455 - 4,455 Realized performance allocations and incentive fees compensation (349) - (349) Net realized performance allocations attributable to non-controlling interests (2,357) - (2,357) Net insurance income 3,083 3,083 - Earnings from investments in real estate 60 60 - Net interest income/(expense) and realized gain/(loss) (168) (168) - Distributable Earnings Attributable to the Operating Company $35,637 $33,888 $1,749

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37 Appendix Composition of Fund Management Fees ($ in MM)

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38 Investment Performance Summary - As of December 31, 2022 ($ in MM) Appendix Total Investment-Level Fund-Level Returns Closed-End Funds(1) (Investment Period Beginning, Ending Date) Cumulative Fund Committed Capital(2) Unreturned Drawn Capital plus Accrued Pref(3) Cumulative Investment Invested Capital(4) Realized Investment Value(5) Unrealized Investment Value(6) Unrealized Investment MOIC(7) Total Investment Fair Value(8) Total Investment MOIC(9) Investor Levered Net IRR(10) Investor Unlevered Net IRR(11) Equity Strategies Funds Multifamily Bridge Multifamily I (Mar 2009, Mar 2012) $124 $— $150 $280 $— N/A $280 1.87x 15.1 % 15.1 % Bridge Multifamily II (Apr 2012, Mar 2015) 596 — 605 1,264 — N/A 1,264 2.09x 23.0 % 22.5 % Bridge Multifamily III (Jan 2015, Jan 2018) 912 552 881 1,784 349 2.62x 2,133 2.42x 20.5 % 19.8 % Bridge Multifamily IV (Jun 2018, Jun 2021) 1,590 1,505 1,416 347 2,611 2.07x 2,957 2.09x 25.4 % 24.5 % Total Multifamily Funds $3,222 $2,057 $3,052 $3,675 $2,960 2.13x $6,634 2.17x 21.5 % 21.0 % Workforce & Affordable Housing Bridge Workforce Housing I (Aug 2017, Aug 2020) $619 $656 $578 $119 $1,069 2.05x $1,188 2.05x 20.6 % 20.6 % Bridge Workforce Housing II (Aug 2020, to present) 1,741 968 911 69 922 1.09x 991 1.09x 0.3 % 0.9 % Total Workforce & Affordable Housing Funds $2,360 $1,624 $1,489 $188 $1,991 1.46x $2,179 1.46x 15.7 % 15.2 % Seniors Housing Bridge Seniors I (Jan 2014, Jan 2018) $578 $812 $720 $404 $430 1.02x $834 1.16x 0.5 % 0.6 % Bridge Seniors II (Mar 2017, Mar 2020) 820 833 730 236 733 1.30x 969 1.33x 5.2 % 5.2 % Bridge Seniors III (Nov 2020, to present) 48 32 24 1 28 1.24x 29 1.24x 2.1 % 2.1 % Total Seniors Housing Funds $1,446 $1,677 $1,474 $641 $1,191 1.18x $1,832 1.24x 2.6 % 2.6 % Office Bridge Office I (Jul 2017, Jul 2020) $573 $672 $619 $187 $446 1.00x $633 1.02x (2.6) % (2.3) % Bridge Office II (Dec 2019, Dec 2022) 208 207 206 39 268 1.49x 307 1.49x 16.1 % 14.6 % Total Office Funds $781 $879 $825 $226 $714 1.13x $940 1.14x 0.3 % 0.6 % Debt Strategies Funds Bridge Debt I (Sep 2014, Sep 2017) $132 $— $219 $264 $— 1.25x $264 1.21x 5.5 % 5.5 % Bridge Debt II (Jul 2016, Jul 2019) 1,002 241 2,617 2,804 272 1.25x 3,076 1.18x 8.7 % 8.6 % Bridge Debt III (May 2018, May 2021) 1,624 1,031 5,555 5,090 1,044 1.25x 6,134 1.10x 9.0 % 8.9 % Bridge Debt IV (Nov 2020, to present) 2,888 1,935 6,984 4,981 2,197 1.04x 7,178 1.03x 6.2 % 5.4 % Total Debt Strategies Funds $5,646 $3,207 $15,375 $13,139 $3,513 1.12x $16,652 1.08x 8.3 % 8.0 % Please refer to Notes to Performance Summary on slide 39 for additional information.

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39 Notes to Performance Summary Appendix The investment performance presented herein is intended to illustrate the performance of investments held by the funds and other vehicles we manage and the potential for which is relevant to the performance-based fees to Bridge. Other than the Investor Unlevered Net IRR and the Investor Levered Net IRR numbers presented, the cash flows in the investment performance do not reflect the cash flows used in presentations of fund performance due to the fund level expenses, reserves, and reinvested capital. (1) Closed-End Funds represented herein does not include performance for (i) Opportunity Zone funds as such funds are invested in active development projects and have minimal stabilized assets, (ii) funds that are currently raising capital, including our open-ended funds, or (iii) strategic acquisitions within the last 12 months. Each fund identified contemplates all associated parallel and feeder limited partnerships in which investors subscribe and accordingly share common management. All intercompany accounts and transactions have been eliminated in the combined presentation. Values and performance presented herein are the combined investor returns gross of any applicable legal entity taxes. (2) Cumulative Fund Committed Capital represents total capital commitments to the fund (excluding joint ventures or separately managed accounts). (3) Unreturned Drawn Capital plus Accrued Pref represents the amount the fund needs to distribute to its investors as a return of capital and a preferred return before the General Partner is entitled to receive performance fees or allocations from the fund. (4) Cumulative Investment Invested Capital represents the total cost of investments since inception (including any recycling or refinancing of investments). This figure will differ from Cumulative Paid-In Capital, which represents the total contributions or drawn down commitments from all investors since inception. (5) Realized Investment Value represents net cash proceeds received in connection with all investments, including distributions from investments and disposition proceeds. (6) Unrealized Investment Value represents the estimated liquidation values that are generally based upon appraisals, contracts and internal estimates. There can be no assurance that Unrealized Investment Fair Value will be realized at valuations shown, and realized values will depend on numerous factors including, among others, future asset-level operating results, asset values and market conditions at the time of disposition, transaction costs, and the timing and manner of disposition, all of which may differ from the assumptions on which the Unrealized Investment Value are based. Direct fund investments in real property are held at cost minus transaction expenses for the first six months. (7) Unrealized Investment MOIC represents the Multiple on Invested Capital ("MOIC") for Total Investment Fair Value associated with unrealized investments before management fees, fund level expenses and carried interest, divided by Cumulative Investment Invested Capital attributable to those unrealized investments. (8) Total Investment Fair Value represents the sum of Realized Investment Value and Unrealized Investment Value, before management fees, expenses and carried interest. (9) Total Investment MOIC represents the MOIC for Total Investment Fair Value divided by Cumulative Investment Invested Capital. (10) Investor Levered Gross IRR is an annualized realized and unrealized fund-level internal rate of return to fee-paying fund investors, computed from inception based on the effective dates of cash inflows (capital contributions) and cash outflows (distributions) and the remaining fair value (to fee-paying investors), gross of management fees and carried interest. Because IRRs are time-weighted calculations, for certain newer funds with short measurement periods, IRRs may be amplified by fund leverage and early fund expenses and may not be meaningful. For certain IRRs calculated with an initial date less than one year from the reporting date, the IRR presented is de-annualized, representing such period's return. (11) Investor Levered Net IRR is an annualized realized and unrealized return to fee-paying investors since the date of the first capital call, net of the investors actual management fees, fund level expenses and carried interest. Net return information reflects the aggregated fund fee-paying investor level returns net of all fees, which may differ from an individual investor's returns due to timing of investment, variance in fees paid by such investor, and other investor-specific investment costs such as taxes.

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40 Glossary Assets Under Management Assets under management, or AUM, represents the sum of (a) the fair value of the assets of the funds and vehicles we manage, plus (b) the contractual amount of any uncalled capital commitments to those funds and vehicles (including our commitments to the funds and vehicles and those of Bridge affiliates). Our AUM is not reduced by any outstanding indebtedness or other accrued but unpaid liabilities of the assets we manage. Our calculations of AUM and fee-earning AUM may differ from the calculations of other investment managers. As a result, these measures may not be comparable to similar measures presented by other investment managers. In addition, our calculation of AUM includes uncalled commitments to (and the fair value of the assets in) the funds and vehicles we manage from Bridge and Bridge affiliates, regardless of whether such commitments or investments are subject to fees. Our definition of AUM is not based on any definition contained in the agreements governing the funds and vehicles we manage or advise. Distributable Earnings Distributable Earnings, or DE, is a key performance measure used in our industry and is evaluated regularly by management in making resource deployment and compensation decisions, and in assessing our performance. DE differs from net income before provision for income taxes, computed in accordance with U.S. GAAP in that it does not include depreciation and amortization, unrealized performance allocations and related compensation expense, unrealized gains (losses), share-based compensation, cash income attributable to non-controlling interests, charges (credits) related to corporate actions and non- recurring items. Although we believe the inclusion or exclusion of these items provides investors with a meaningful indication of our core operating performance, the use of DE without consideration of the related U.S. GAAP measures is not adequate due to the adjustments described herein. This measure supplements and should be considered in addition to and not in lieu of the results of operations discussed further in our most recent annual report on Form 10-K and quarterly report of Form 10-Q under "Management's Discussion and Analysis of Financial Condition and Results of Operations—Key Components of our Results of Operations—Combined Results of Operations" prepared in accordance with U.S. GAAP. Our calculations of DE may differ from the calculations of other investment managers. As a result, these measures may not be comparable to similar measures presented by other investment managers. Fee-Earning AUM Fee-Earning AUM, or FEAUM, reflects the assets from which we earn management fee revenue. The assets we manage that are included in our FEAUM typically pay management fees based on capital commitments, invested capital or, in certain cases, NAV, depending on the fee terms. Fee Related Earnings Fee Related Earnings, or FRE, is a supplemental performance measure used to assess our ability of to generate profits from fee-based revenues that are measured and received on a recurring basis. FRE differs from income before provision for income taxes computed in accordance with U.S. GAAP in that it adjusts for the items included in the calculation of Distributable Earnings, and also adjusts Distributable Earnings to exclude realized performance allocations income and related compensation expense, net insurance income, earnings from investments in real estate, net interest (interest income less interest expense), net realized gain/(loss), and, if applicable, certain general and administrative expenses when the timing of any future payment is uncertain. FRE is not a measure of performance calculated in accordance with U.S. GAAP. The use of FRE without consideration of the related U.S. GAAP measures is not adequate due to the adjustments described herein. Our calculations of FRE may differ from the calculations of other investment managers. As a result, these measures may not be comparable to similar measures presented by other investment managers.

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41 Glossary (cont'd) Fee Related Expenses Fee Related Expenses is a component of Fee Related Earnings. Fee Related Expenses differs from expenses computed in accordance with U.S. GAAP in that it does not include incentive fee compensation, performance allocations compensation, share-based compensation, loss and loss adjustment expenses associated with our insurance business, depreciation and amortization, or charges (credits) related to corporate actions and non-recurring items, and expenses attributable to non- controlling interest in consolidated entities. Additionally, Fee Related Expenses is reduced by the costs associated with our property operations, which are managed internally in order to enhance returns to the Limited Partners in our funds. Fee Related Expenses are used in management's review of the business. Please refer to the reconciliation to the comparable line items on the consolidated and combined statements of operations. Fee Related Revenues Fee Related Revenues is a component of Fee Related Earnings. Fee Related Revenues is comprised of fund management fees, transaction fees net of any third-party operating expenses, net earnings from Bridge property operators, development fees, and other asset management and property income. Net earnings from Bridge property operators is calculated as a summation of property management, leasing fees and construction management fees less third-party operating expenses and property operating expenses. Property operating expenses is calculated as a summation of employee compensation and benefits, general and administrative expenses and interest expense at our property operators. We believe our vertical integration enhances returns to our shareholders and fund investors, and we view the net earnings from Bridge property operators as part of our fee related revenue as these services are provided to essentially all of the real estate properties in our equity funds. Net earnings from Bridge property operators is a metric that is included in management's review of our business. Please refer to the reconciliation to the comparable line items on the combined statements of operations. Fee Related Revenues differs from revenue computed in accordance with U.S. GAAP in that it excludes insurance premiums. Additionally, Fee Related Revenues is reduced by the costs associated with our property operations, which are managed internally in order to enhance returns to the Limited Partners in our funds. Fund Management Fees Fund management fees refers to fees we earn for advisory services provided to our funds, which are generally based on total commitments, invested capital or net asset value managed by us. Fund management fees are generally based on a quarterly measurement period and amounts are paid in advance of recognizing revenue. Operating Company Bridge Investment Group Holdings LLC, or the Operating Company, acts as a holding company of certain affiliates that provide an array of real estate-related services. The Operating Company is the ultimate controlling entity, through its wholly owned subsidiary Bridge Fund Management Holdings LLC, of the investment manager entities, which we refer to collectively as the Fund Managers. Sponsored Funds Sponsored Funds refers to the funds, co-investment vehicles and other entities and accounts that are managed by Bridge, and which are structured to pay fees.

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## Exhibit 99.2

**Exhibit 99.2**&nbsp;&nbsp;&nbsp;&nbsp;

![imageb.jpg](imageb.jpg)**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

**Bridge Investment Group to Acquire the Business of Newbury Partners, Diversifying Bridge's Product Offerings and Client Base with Leading PE Secondaries Platform** 

*Accretive Transaction Would Create Combined Organization with $48.5 Billion in Assets Under Management*

*Highly Experienced Team Positions Bridge to Capitalize on Growing Secondaries Opportunity Set*

*Bridge to Host Conference Call Today at 8:30am ET*

**SALT LAKE CITY – February 14, 2023 –** Bridge Investment Group Holdings Inc. (NYSE: BRDG) ("Bridge" or the "Company") today announced it has entered into a definitive agreement to acquire substantially all of the business of Newbury Partners LLC ("Newbury"), an investment manager that specializes in acquiring limited partnership interests in private equity funds through secondary transactions. The all-cash transaction is valued at $320.1 million.

Newbury is a leader in the secondaries market, with a focus on acquiring limited partnership interests in established buyout, growth equity and venture capital funds. Founded in 2006, Newbury has raised over $6.2 billion of committed investor capital across five dedicated funds and has invested in over 500 underlying interests on behalf of more than 250 limited partners worldwide. With $4.3 billion in fee earning assets under management, Newbury's experienced management team has a decades-long track record of investment performance. Newbury has a diverse portfolio, attractive institutional investor base, and strong competitive position in the secondaries market.

The transaction would add significant assets to the Bridge platform, while enabling Bridge to expand into the rapidly growing private equity secondaries market, which continues to see accelerating demand. Newbury's extensive direct sourcing network and middle market focus allow it to benefit from specialized expertise and drive attractive risk-adjusted returns, which strategy aligns closely with Bridge's own approach to real estate investments. The addition of Newbury would diversify Bridge's product offerings and expand its institutional client base, with minimal overlap between Newbury's fund investors and existing Bridge limited partners. Upon completion of the transaction, Newbury will retain its headquarters in Stamford, Conn., and will continue to be led by its long-standing management team.

Robert Morse, Executive Chairman of Bridge, said, "The acquisition of Newbury is a natural next step in thoughtfully expanding Bridge's investment platform and capitalizing on a value-enhancing growth opportunity. As investors' allocations to alternative investments grow, we believe growth in the secondaries market will also accelerate."

Bridge CEO Jonathan Slager added, "This acquisition is expected to be immediately accretive to Bridge's core earnings metrics. We see significant near- and long-term growth opportunities to further enhance Bridge's fee related earnings."

Richard Lichter, Managing Partner and Founder of Newbury, said, "The opportunity in the secondaries market is as compelling as ever. We are excited about the common vision and fit between Bridge and Newbury and believe strongly that the partnership will accelerate our growth within both our existing strategy and adjacent secondaries opportunities. Bridge has the platform to support our growth, and is the natural next step for Newbury. I am confident that this transaction will position Newbury and Bridge for shared success, and we look forward to working closely with the entire Bridge team to realize the benefits of this complementary combination."

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**Financing Details**

In connection with this transaction, Bridge has entered into a $150 million note purchase agreement pursuant to which its operating company, Bridge Investment Group Holdings LLC, issued two tranches of notes in a private placement. The transaction consists of $120 million of 5.99% notes with a seven-year term and $30 million of 6.10% notes with a ten-year term. The note purchase agreement is contingent upon closing the Newbury transaction and funding would occur at that time, subject to customary closing conditions. Additionally, the Company has exercised an option to increase its Senior Secured Credit Facility from $125 million to $225 million, with full capacity currently available.

**Approvals and Timeline to Closing**

The transaction is expected to close in the first half of 2023 and is subject to customary closing conditions, including regulatory and investor approvals.

**Advisors**

Latham & Watkins LLP and Kirkland & Ellis LLP are serving as legal advisors to Bridge on this transaction. Berkshire Global Advisors is serving as financial advisor and Proskauer Rose LLP is serving as legal advisor to Newbury.

**Conference Call Information**

A conference call to discuss the transaction is scheduled for today at 8:30 am Eastern Time. A supplemental presentation is available by logging on to Bridge's website at <u>www.ir.bridgeig.com</u>.

Interested parties may access the conference call live over the phone by dialing 1-877-405-1210 (domestic) or 1-201-689-8721 (international). Participants are asked to dial in a few minutes prior to the call to register for the event. The event will also be available live via webcast which can be accessed here or from our Investor Relations website https://ir.bridgeig.com.

An audio replay of the conference call will be available approximately three hours after the conference call until 11:59 p.m. ET on February 28, 2023 and can be accessed by dialing 1-877-660-6853 (domestic) or 1-201-612-7415 (international), and providing the passcode 13736320.

**About Bridge Investment Group**

<u>Bridge</u> is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $43.3 billion of assets under management as of December 31, 2022. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: residential rental, office, development, logistics properties, net lease, real estate-backed credit, renewable energy, and prop tech.

**About Newbury Partners**

Newbury is a leading institutional investor in the private equity secondaries market. The firm was established in 2006 and is led by a deeply experienced team. Newbury has raised more than $6.2 billion of committed investor capital from more than 250 limited partners worldwide and has returned more than $4.2 billion in distributions since inception. The firm currently manages more than $4.3 billion of fee earning committed capital. Across its series of five funds to date, the Newbury team has completed more than 200 secondary transactions encompassing more than 500 underlying fund interests and has made more than 50 co-investments.

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**Forward-Looking Statements**

This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future events or our future performance or financial condition. All statements other than statements of historical facts may be forward-looking statements, including statements relating to the expected timing, completion and effects of the transaction with Newbury or the financing contemplated by the note purchase agreement; the expected benefits of the transaction, including future synergies and growth opportunities; and the future business and prospects of Bridge and Newbury. In some cases, you can identify forward-looking statements by terms such as "outlook," "could," "believes," "expects," "potential," "opportunity," "continues," "may," "will," "should," "over time," "seeks," "predicts," "intends," "plans," "estimates," "anticipates," "foresees" or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. Accordingly, we caution you that any such forward-looking statements are based on our beliefs, assumptions and expectations as of the date made, taking into account all information available to us at that time. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties that are difficult to predict and beyond our control. Bridge may not be able to complete the proposed transaction or obtain the proposed financing on the terms described above or at all because of a number of factors, including, without limitation, (i) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive transaction agreement or the note purchase agreement, (ii) the failure of the parties to satisfy the closing conditions to the transaction or the financing and (iii) the effect of the announcement of the transaction on the ability of the parties to retain and hire key personnel and maintain their operating results and business generally. Actual results may differ materially from those express or implied in the forward-looking statements as a result of a number of factors, including but not limited to those risks described from time to time in our filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. Bridge undertakes no duty to publicly update any forward-looking statements herein, on the webcast/conference call, or otherwise, whether as a result of new information, future developments or otherwise, except as required by law. Nothing in this press release constitutes an offer to sell or solicitation of an offer to buy any securities of the Company or any investment fund managed by the Company or its affiliates.

**Shareholder Relations:**

Bonni Rosen

Bridge Investment Group Holdings Inc.

<u>shareholderrelations@bridgeig.com</u>

**Media:**

Charlotte Morse

Bridge Investment Group Holdings Inc.

<u>charlotte.morse@bridgeig.com</u>

(877) 866-4540

Jonathan Keehner / Kara Brickman / Erik Carlson

Joele Frank, Wilkinson Brimmer Katcher

(212) 355-4449

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February 14, 2023 Bridge Newbury Partners Transaction Overview

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2 DISCLAIMER The information contained herein is summary information that is intended to be considered in the context of Bridge Investment Group Holdings Inc.'s ("Bridge" or the "Company") Securities and Exchange Commission filings and other public announcements that Bridge may make, by press release or otherwise. Bridge has entered into certain agreements with Newbury Partners LLC ("Newbury") pursuant to which Bridge will acquire Newbury's investment management business and the Newbury team will join Bridge to launch Bridge's secondaries strategy (the "Transaction"). The Transaction is subject to customary closing conditions, including regulatory and other approvals. Nothing contained herein constitutes or forms a part of, and should not be construed as, an offer or invitation to subscribe for, underwrite or otherwise acquire, any securities of Bridge or Newbury, or any affiliate of Bridge or, Newbury or any fund or other investment vehicle managed by Bridge or Newbury or an affiliate of Bridge or Newbury. This presentation should not form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of Bridge or any fund or other investment vehicle managed by Bridge or an affiliate of Bridge, or in connection with any other contract or commitment whatsoever. This presentation does not constitute a "prospectus" within the meaning of the Securities Act of 1933, as amended. Any decision to purchase securities of Bridge or any of its affiliates should be made solely on the basis of the information contained in a prospectus to be issued by Bridge in relation to a specific offering. This presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation may be forward-looking statements. Statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operations, including, among others, statements regarding expected growth, capital raising, expectations or targets related to financial and non-financial measures, future capital expenditures, fund performance, debt service obligations, the expected timing, completion and effects of the Transaction with Newbury, the expected benefits of the Transaction, including future synergies and growth opportunities, and the future business and prospects of Bridge and Newbury, are forward-looking statements. In some cases, you can identify forward-looking statements by terms, such as "may," "will," "should," "expects," "plans," "seek," "anticipates," "plan," "forecasts," "outlook," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict and beyond our ability to control. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. If one or more events related to these forward-looking statements or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. Many of the important factors that will determine these results are beyond our ability to control or predict. We believe these factors include but are not limited to the possibility of the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive transaction agreement, the possibility that the Transaction could be delayed or terminated based on a failure of the parties to satisfy the closing conditions to the Transaction, the effect of the announcement of the Transaction on the ability of the parties to retain and hire key personnel and maintain their operating results and business generally, Bridge's ability to obtain its proposed financing, the possibility that regulatory and other approvals and conditions to the Transaction are not received or satisfied on a timely basis or at all, the possibility that modifications to the terms of the Transaction may be required in order to obtain or satisfy such approvals or conditions, delays in the closing of the Transaction, difficulties, delays or unanticipated costs in integrating Newbury's operations, purchase price adjustments, unexpected costs resulting from the Transaction, delays or other disruptions associated with the Transaction or integration of personnel or operations in international jurisdictions, changes in economic conditions and regulatory conditions, and those risk factors described under the section entitled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2021, filed with the United States Securities and Exchange Commission (the "SEC") on March 18, 2022, or those that will be included in our Annual Report on Form 10-K for the year ended December 31, 2022, or any other filings we make, which filings will be accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements included in our SEC filings. You should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as otherwise required by law, we do not undertake any obligation to publicly update or review any forward- looking statement, whether as a result of new information, future developments or otherwise. New factors emerge from time to time, and it is not possible for us to predict which will arise. We cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Unless otherwise indicated, information contained in this presentation concerning our industry, competitive position and the markets in which we operate is based on information from independent industry and research organizations, other third-party sources and management estimates. Management estimates are derived from publicly available information released by independent industry analysts and other third-party sources, as well as data from our internal research, and are based on assumptions made by us upon reviewing such data, and our experience in, and knowledge of, such industry and markets, which we believe to be reasonable. In addition, projections, assumptions and estimates of the future performance of the industry in which we operate and our future performance are necessarily subject to uncertainty and risk due to a variety of factors, which could cause results to differ materially from those expressed in the estimates made by the independent parties and by us. Non-GAAP Financial Measures This presentation uses financial measures that are not presented in accordance with generally accepted accounted principles in the United States ("GAAP"), such as Distributable Earnings, Fee Related Earnings, Fee Related Revenues and Performance Related Earnings, to supplement financial information presented in accordance with GAAP. There are limitations to the use of the non-GAAP financial measures presented in this presentation. For example, the non-GAAP financial measures may not be comparable to similarly titled measures of other companies. Other companies may calculate non-GAAP financial measures differently than the Company, limiting the usefulness of those measures for comparative purposes. With the exception of the Newbury performance information, capitalized terms used but not defined herein with respect to certain Bridge metrics are defined in Bridge's earnings presentation. The non-GAAP financial measures are not meant to be considered as indicators of performance in isolation from or as a substitute for measures prepared in accordance with GAAP, and should be read only in conjunction with financial information presented on a GAAP basis. Reconciliations of each of Fee Related Revenues, Fee Related Earnings and Distributable Earnings to its most directly comparable GAAP financial measure are presented herein. We encourage you to review the reconciliations in conjunction with the presentation of the non-GAAP financial measures for each of the periods presented. Throughout this presentation, all current period amounts are preliminary and unaudited.

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3 EXECUTING ON GROWTH OPPORTUNITIES IDENTIFIED AT IPO Expanded to serve additional fund investors who value Bridge's established operating platform, sharpshooter investment strategies, and strong performance history Drove competitive advantages and attractive investment returns through a diversified and synergistic business model spanning residential rental, real estate backed credit, development, logistics, and office Opened offices in Luxembourg and South Korea Expanded marketing efforts for real estate products in Europe in a more direct and efficient manner through the approval of AIFM license in Luxembourg in July 2022 Actively pursued organic and inorganic opportunities to accelerate growth such as the acquisition of our Single-Family Rental platform and the pending acquisition of Newbury Partners Continued to expand into high-growth sectors to complement existing investment verticals through the launch of Logistics, Net Lease Income, Renewable Energy and PropTech Scalable platform along with substantial recent investments in infrastructure position Bridge to further increase size and efficiency        Pursue Accretive Acquisitions to Complement Platform Continue to Strengthen and Expand Fund Investor Network Expand Product Offerings Across the Risk-Return Spectrum Launch New Strategies Across Real Estate & Adjacent Sectors and Expand Geographically Leverage Scale to Enhance Operating Margins Expand Distribution Capabilities Domestically & Internationally

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4 NEWBURY PARTNERS ACQUISITION WOULD ENHANCE POSITIONING AND PROVIDE NEW GROWTH OPPORTUNITIES • Adds $4.3Bn of Fee Earning Assets Under Management1 and 250+ high quality global LPs • Diversifies product offerings and institutional client base via existing Newbury funds • Expands investment profile beyond North America and Real Estate through Newbury fund investments Adds Scale and Diversity to Bridge Platform • Newbury Partners is one of the leading independent secondaries investment firms in the market • High growth private equity secondaries market continues to generate attractive risk- adjusted returns and is expected to continue to grow over the coming decade Enhances Bridge's Positioning in Attractive Secondaries Market • Opportunity to combine Bridge's expertise in real estate underwriting with Newbury's capabilities as a leading secondary market investor to develop real estate secondaries funds and expand investment offerings to both Bridge and Newbury investors Provides Synergistic Growth Opportunities • Newbury has an experienced management team with an average of 20 years of industry experience and strong track record; transaction structure provides alignment • Self-contained fundraising and investment capabilities gives Newbury ability to scale growth with support from Bridge Aligned Management Team and Platform Highly complementary transaction expected to enhance scale and secondaries market capabilities while providing significant growth opportunities • The transaction is estimated to be accretive to 2022 FRE, FRE margin, and After-Tax Distributable Earnings per share (2) • Expect meaningful earnings and margin growth from new Newbury fund launches • Attractive terms relative to recent precedents Financially Attractive Structure and Terms 1. References to Assets Under Management with respect to the Transaction refers to the assets under management as reported by Newbury as of December 31, 2022. Bridge's definition of Assets Under Management may differ from Newbury's historical definitions and Newbury's historical definitions are subject to change. 2. We estimate the Transaction would be mid-single digit accretive to our after-tax distributable earnings per share if the transaction had occurred on January 1, 2022. No assurance can be given that the Transaction will achieve any such estimated accretion or that the Transaction will be consummated on the contemplated terms/timeline or at all.

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5 OVERVIEW OF NEWBURY PARTNERS : 1. As of December 31, 2022. 2. Committed capital as of December 31, 2022. 3. Transaction is subject to customary closing conditions, including regulatory approvals. Newbury Partners Overview Key Newbury Partners Stats (1) 16+ Years as Secondary Specialists $5.2Bn AUM 5 Existing Funds (NEP I-V) ~8 years Average duration of FEAUM 200+ Transactions Executed To-Date 250+ Limited Partners Worldwide Newbury Partners Leadership RICHARD LICHTER Managing Partner & Founder • 29 years of private equity experience • Previously held Managing Director-level roles at Auda Private Equity, where he was also Head of Secondary Investments, Lexington Partners, and Landmark Partners • Earned an MBA from M.I.T. Sloan School of Management and an AB from Dartmouth College with Phi Beta Kappa honors CHRIS JAROCH Partner • 20 years of private equity experience • Previously held Vice President-level roles in the Secondary Group at Auda Private Equity, Perry Capital, and the Private Placements Group at Salomon Smith Barney, as well as a Senior Associate role at Advest • Earned an MBA from Harvard Business School and received a BA from Amherst College GERRY ESPOSITO Partner, CFO & CCO • 24 years of private equity experience • Previously held the roles of CFO and CAO for the Private Capital Group of BNP Paribas, as well as Senior Manager with the Deloitte & Touche Private Equity Investor Services Group • Board Member of the NY Private Equity CFO Association • Earned a BBA degree from Siena College and is a CPA in the state of NY WARREN SYMON Partner • 19 years of private equity experience • Previously held the roles of Vice President at Quilvest Private Equity, Senior Associate at Pomona Capital, and Equity Research Associate at Bear, Stearns & Co. Inc. • Earned an MBA from the Fuqua School of Business at Duke University and received a BA with honors from Amherst College  Founded in 2006, Newbury Partners specializes in acquiring limited partnership interests in established leveraged buyout, growth equity and venture capital funds through secondary transactions  Newbury's strategy differentiates it from other secondary market participants and is highly defensible ‒ Newbury Partners pursues an opportunistic and value-oriented investment strategy, targeting small- to mid-size transactions in the secondary market ‒ Significant investment focus on the U.S. private equity middle market  Newbury''s most recent fund, NEP V with a 2020 vintage, raised $2Bn (2)  Bridge has agreed to acquire substantially all of the business of Newbury Partners for $320.1MM (3) ‒ Bridge will receive 40% of carry on Bridge's ownership interest on all incremental funds raised ‒ In-place management team of Newbury will continue to lead the business post-closing

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6 76% 21% 3% North America Europe Asia 85% 3% 12% Secondaries Co-Investments Primaries 53% 18% 15% 14% Small / Mid LBO Large LBO Venture Growth 2.8 4.2 4.3 5.1 5.6 6.2 2016 2017 2018 2019 2020 2021 Cumulative Equity Raised ($Bn) (2) OVERVIEW OF NEWBURY PARTNERS (CONT'D) 1. Committed capital as of December 31, 2022. 2. As of December 31, 2022. 3. Transaction exposure as of December 31, 2022. 4. As a percentage of 2022 total transactions of $601MM. Investments by Fund Type (3) Transactions by Type (4) Diverse Portfolio Geography (3) Fund Year Size (1) Newbury Equity Partners 2007 $0.7Bn Newbury Equity Partners II 2010 $1.0Bn Newbury Equity Partners III 2014 $1.1Bn Newbury Equity Partners IV 2017 $1.4Bn Newbury Equity Partners V 2020 $2.0Bn Fund Overview ($Bn)

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7 12 22 27 42 18 48 5725 36 47 46 42 84 51 2016 2017 2018 2019 2020 2021 2022 H1 H2 NEWBURY PARTNERS IS WELL POSITIONED IN THE FAST- GROWING SECONDARIES MARKET 1. Source: Preqin, Assets Under Management by Date, as of June 2022. 2. Source: Greenhill Cogent, Secondary Market Trends & Outlook, January 2016. 3. Source: Jefferies, "Global Secondary Market Review, January 2023." Secondary Market Volume ($Bn) (3) 37 58 74 88 60 132 Secondaries Is An Attractive Growth Market • After two decades of significant growth, the alternative assets sector has $13.3Tn AUM (1) held in largely illiquid investments, driving the need for a secondary market to provide liquidity to LPs • Since Newbury Partners' founding, the secondary market has grown by a factor of 10 (2)(3), with an estimated $240 billion of transactions completed in 2021 – 2022 (3) • Secondary funds provide several advantages over traditional private equity funds, including: – Buy-in at a discount to NAV – Seasoned investments offer j-curve mitigation and early cash flows – Limited blind pool risk provides visibility into underlying fund investment holdings – Increased diversification Several growth drivers for further market expansion including growth in the broader private equity market and increasing investor need for liquidity 108

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8 NEWBURY PARTNERS FUND PERFORMANCE Past performance is not a guarantee of future results. Please refer to Notes to Performance on slide 10 for additional information Gross Net Vintage Year Size (MM) (2) Gross IRR (3) Net IRR (4) Distributed / Paid-In Capital (5) Total Value / Paid-In Capital (6) Distributed / Paid-In Capital (7) Total Value / Paid-In Capital (8) Newbury Equity Partners 2007 $702 11.5% 8.2% 1.64x 1.69x 1.38x 1.41x Newbury Equity Partners II 2010 $1,024 20.7% 15.0% 1.73x 1.87x 1.45x 1.55x Newbury Equity Partners III 2014 $1,102 21.9% 17.1% 1.36x 1.98x 1.16x 1.64x Newbury Equity Partners IV 2017 $1,447 27.4% 21.4% 0.58x 2.01x 0.52x 1.69x Newbury Equity Partners V 2020 $2,000 44.9% 27.0% 0.09x 1.34x 0.09x 1.20x Fund-Level Performance Summary - as of September 30, 2022 (1)

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9 DETAILED FINANCIAL METRICS 1 Based on Bridge's financial statements and underlying records as of and for the year ended December 31, 2022. 2 This column presents estimates based on the unaudited financial statements and underlying records of Newbury Partners as of and for the year ended December 31, 2022, which remain subject to change upon finalization of review and audit procedures. The numbers in this column exclude the results of the operations of certain assets of Newbury Partners not proposed to be acquired by Bridge in the Transaction, including carried interest related to NEP I-V. 3 References to Assets Under Management with respect to the Transaction refers to the assets under management as reported by Newbury as of December 31, 2022. Bridge's definition of Assets Under Management may differ from Newbury's historical definitions and Newbury's historical definitions are subject to change. BRIDGE INVESTMENT GROUP (1) NEWBURY PARTNERS (2) ASSETS UNDER MANAGEMENT $43.3Bn $5.2Bn (3) FEE EARNING AUM $17.3Bn $4.3Bn (3) TOTAL FEE RELATED REVENUES $319.5MM $42.9MM FEE RELATED EARNINGS $164.9MM $27.7MM FRE MARGIN 51.6% ~65% Acquisition of a complementary, high-growth platform that is expected to broaden Bridge's product offerings and capabilities and continue the strong execution of our growth plan presented at IPO

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10 Notes to Historical Newbury Partners Fund Performance Summary Appendix The investment performance presented herein is intended to illustrate the historical performance of investments held by the funds and other vehicles managed by Newbury and the potential for which is relevant to the performance-based fees to Bridge. All performance information included in this presentation regarding Newbury is based on information provided by Newbury in connection with the transaction and is subject to change. 1. Past performance is not indicative of future results and reflects realized and unrealized investments. No assurance can be made that any unrealized values will be realized at current values. 2. Size represents total capital commitments to the fund as of December 31, 2022. 3. Gross IRR is an annualized realized and unrealized fund-level internal rate of return to fund investors, computed from inception based on the effective dates of cash inflows (capital contributions) and cash outflows (distributions) and the remaining fair value, gross of management fees and carried interest. Because IRRs are time- weighted calculations, for certain newer funds with short measurement periods, IRRs may be amplified by fund leverage and early fund expenses and may not be meaningful. 4. Net IRR is an annualized realized and unrealized return to fund investors since the date of the first capital call, net of the investors actual management fees, fund level expenses and carried interest. 5. Gross Distributed to Paid-In Capital multiple represents net cash proceeds distributed to fund investors, including current income and disposition proceeds divided by the total contributions or drawn down commitments from all investors since inception gross of management fees and carried interest. 6. Gross Total Value to Paid-In Capital multiple represents the sum of net cash proceeds distributed to fund investors, including current income and disposition proceeds, and the estimated liquidation value to fund investors, which includes investment values that are generally based upon appraisals, contracts and internal estimates divided by the total contributions or drawn down commitments from all investors since inception gross of management fees and carried interest. 7. Net Distributed to Paid-In Capital multiple represents net cash proceeds distributed to fund investors, including current income and disposition proceeds divided by the total contributions or drawn down commitments from fund investors since inception. 8. Net Total Value to Paid-In Capital multiple represents the sum of net cash proceeds distributed to fund investors, including current income and disposition proceeds, and the estimated liquidation value to all investors, which includes investment values that are generally based upon appraisals, contracts and internal estimates divided by the total contributions or drawn down commitments from fund investors since inception.

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11 Appendix Bridge Investment Group's GAAP Consolidated and Combined Statements of Operations (Unaudited) Year Ended December 31, ($ in thousands, except shares and per share amounts) 2022 Revenues: Fund management fees $221,584 Property management and leasing fees 76,210 Construction management fees 10,973 Development fees 4,688 Transaction fees 56,205 Fund administration fees 15,031 Insurance premiums 12,856 Other asset management and property income 11,502 Total revenues 409,049 Investment income: Incentive fees — Performance allocations: realized 69,280 Performance allocations: unrealized 115,175 Earnings from investments in real estate 2,169 Total investment income 186,624 Expenses: Employee compensation and benefits 196,629 Incentive fee compensation — Performance allocations compensation: realized 4,396 Performance allocations compensation: unrealized 24,870 Loss and loss adjustment expenses 6,520 Third-party operating expenses 25,675 General and administrative expenses 41,070 Depreciation and amortization 2,936 Total expenses 302,096 Other income (expense): Realized and unrealized gains, net 4,215 Interest income 7,867 Other income (expense), net 1,246 Interest expense (12,340) Total other income (expense) 988 Income before provision for income taxes 294,565 Income tax provision (22,195) Net income 272,370 Net income attributable to non-controlling interests in Bridge Investment Group Holdings LLC 88,141 Net income attributable to Bridge Investment Group Holdings LLC 184,229 Net income attributable to non-controlling interests in Bridge Investment Group Holdings Inc. 156,960 Net income (loss) attributable to Bridge Investment Group Holdings Inc. $27,269 Earnings (loss) per share of Class A common stock - Basic and Diluted $0.92 Weighted-average shares of Class A common stock outstanding - Basic and Diluted 23,928,408

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12 ($ in thousands) Year Ended December 31, 2022 Net income $272,370 Income tax provision 22,195 Income before provision for income taxes 294,565 Depreciation and amortization 2,936 Less: Unrealized performance allocations (115,175) Plus: Unrealized performance allocations compensation 24,870 Less: Unrealized (gains) losses, net (4,249) Plus: Other (income) expenses, net (1,246) Plus: Share-based compensation 32,144 Less: Net realized performance allocations attributable to non- controlling interests (39,320) Less: Cash income attributable to non-controlling interests in subsidiaries (6,603) Distributable Earnings attributable to the Operating Company $187,922 Realized performance allocations and incentive fees (69,280) Realized performance allocations and incentive fees compensation 4,396 Net realized performance allocations to non-controlling interests 39,320 Net insurance (income) loss (6,336) (Earnings) losses from investments in real estate (2,169) Net interest (income) expense and realized (gain) loss 4,472 Less: Cash income attributable to non-controlling interests in subsidiaries 6,603 Total Fee Related Earnings $164,928 Less: Total Fee Related Earnings attributable to non-controlling interests (6,603) Total Fee Related Earnings attributable to the Operating Company $158,325 Appendix Bridge Investment Group's Unaudited Non-GAAP Financial Measures

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13 Appendix Bridge Investment Group's Unaudited Non-GAAP Financial Measures ($ in thousands) Year Ended December 31, 2022 Fund-level fee revenues Fund management fees $221,584 Transaction fees 56,205 Total net fund-level fee revenues 277,789 Net earnings from Bridge property operators 10,504 Development fees 4,688 Fund administration fees 15,031 Other asset management and property income 11,502 Fee Related Revenues 319,514 Cash-based employee compensation and benefits (126,252) Net administrative expenses (28,334) Fee Related Expenses (154,586) Total Fee Related Earnings 164,928 Less: Total Fee Related Earnings attributable to non-controlling interests (6,603) Total Fee Related Earnings to the Operating Company 158,325 Realized performance allocations and incentive fees 69,280 Realized performance allocations and incentive fees compensation (4,396) Net realized performance allocations attributable to non-controlling interests (39,320) Net insurance income (loss) 6,336 Earnings (losses) from investments in real estate 2,169 Net interest income (expense) and realized gain (loss) (4,472) Distributable Earnings attributable to the Operating Company $187,922

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14 Appendix Bridge Investment Group's Unaudited Non-GAAP to GAAP Reconciliation ($ in thousands) Year Ended December 31, 2022 Cash-based employee compensation and benefits $126,252 Compensation expense of Bridge property operators 38,233 Share-based compensation 32,144 Employee compensation and benefits $196,629 Administrative expenses, net of Bridge property operators $28,334 Administrative expenses of Bridge property operators 12,736 General and administrative expenses $41,070 Unrealized gains (losses) $4,249 Other expenses from Bridge property operators (35) Net interest income (expense) and realized gain (loss) 1,246 Other income (expense), net (4,472) Total other income (expense) $988 Cash income attributable to non-controlling interests in subsidiaries $6,603 Non-cash income attributable to non-controlling interest in subsidiaries (644) Realized performance allocations attributable to non-controlling interests 39,320 Unrealized performance allocations attributable to non-controlling interests 42,862 Net income attributable to non-controlling interests in Bridge Investment Group Holdings LLC $88,141

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15 Glossary Assets Under Management Assets under management, or AUM, represents the sum of (a) the fair value of the assets of the funds and vehicles we manage, plus (b) the contractual amount of any uncalled capital commitments to those funds and vehicles (including our commitments to the funds and vehicles and those of Bridge affiliates). Our AUM is not reduced by any outstanding indebtedness or other accrued but unpaid liabilities of the assets we manage. Our calculations of AUM and fee-earning AUM may differ from the calculations of other investment managers. As a result, these measures may not be comparable to similar measures presented by other investment managers. In addition, our calculation of AUM includes uncalled commitments to (and the fair value of the assets in) the funds and vehicles we manage from Bridge and Bridge affiliates, regardless of whether such commitments or investments are subject to fees. Our definition of AUM is not based on any definition contained in the agreements governing the funds and vehicles we manage or advise. Distributable Earnings Distributable Earnings, or DE, is a key performance measure used in our industry and is evaluated regularly by management in making resource deployment and compensation decisions, and in assessing our performance. DE differs from net income before provision for income taxes, computed in accordance with U.S. GAAP in that it does not include depreciation and amortization, unrealized performance allocations and related compensation expense, unrealized gains (losses), share-based compensation, cash income attributable to non-controlling interests, charges (credits) related to corporate actions and non- recurring items. Although we believe the inclusion or exclusion of these items provides investors with a meaningful indication of our core operating performance, the use of DE without consideration of the related U.S. GAAP measures is not adequate due to the adjustments described herein. This measure supplements and should be considered in addition to and not in lieu of the results of operations discussed further in our most recent annual report on Form 10-K and quarterly report of Form 10-Q under "Management's Discussion and Analysis of Financial Condition and Results of Operations—Key Components of our Results of Operations—Combined Results of Operations" prepared in accordance with U.S. GAAP. Our calculations of DE may differ from the calculations of other investment managers. As a result, these measures may not be comparable to similar measures presented by other investment managers. Fee-Earning AUM Fee-Earning AUM, or FEAUM, reflects the assets from which we earn management fee revenue. The assets we manage that are included in our FEAUM typically pay management fees based on capital commitments, invested capital or, in certain cases, NAV, depending on the fee terms. Fee Related Earnings Fee Related Earnings, or FRE, is a supplemental performance measure used to assess our ability of to generate profits from fee-based revenues that are measured and received on a recurring basis. FRE differs from income before provision for income taxes computed in accordance with U.S. GAAP in that it adjusts for the items included in the calculation of Distributable Earnings, and also adjusts Distributable Earnings to exclude realized performance allocations income and related compensation expense, net insurance income, earnings from investments in real estate, net interest (interest income less interest expense), net realized gain/(loss), and, if applicable, certain general and administrative expenses when the timing of any future payment is uncertain. FRE is not a measure of performance calculated in accordance with U.S. GAAP. The use of FRE without consideration of the related U.S. GAAP measures is not adequate due to the adjustments described herein. Our calculations of FRE may differ from the calculations of other investment managers. As a result, these measures may not be comparable to similar measures presented by other investment managers.

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16 Glossary (cont'd) FRE Margin Fee Related Earnings Margin represents the quotient of Fee Related Earnings and Fee Related Revenues. Fee Related Expenses Fee Related Expenses is a component of Fee Related Earnings. Fee Related Expenses differs from expenses computed in accordance with U.S. GAAP in that it does not include incentive fee compensation, performance allocations compensation, share-based compensation, loss and loss adjustment expenses associated with our insurance business, depreciation and amortization, or charges (credits) related to corporate actions and non-recurring items, and expenses attributable to non- controlling interest in consolidated entities. Additionally, Fee Related Expenses is reduced by the costs associated with our property operations, which are managed internally in order to enhance returns to the Limited Partners in our funds. Fee Related Expenses are used in management's review of the business. Please refer to the reconciliation to the comparable line items on the consolidated and combined statements of operations. Fee Related Revenues Fee Related Revenues is a component of Fee Related Earnings. Fee Related Revenues is comprised of fund management fees, transaction fees net of any third-party operating expenses, net earnings from Bridge property operators, development fees, and other asset management and property income. Net earnings from Bridge property operators is calculated as a summation of property management, leasing fees and construction management fees less third-party operating expenses and property operating expenses. Property operating expenses is calculated as a summation of employee compensation and benefits, general and administrative expenses and interest expense at our property operators. We believe our vertical integration enhances returns to our shareholders and fund investors, and we view the net earnings from Bridge property operators as part of our fee related revenue as these services are provided to essentially all of the real estate properties in our equity funds. Net earnings from Bridge property operators is a metric that is included in management's review of our business. Please refer to the reconciliation to the comparable line items on the combined statements of operations. Fee Related Revenues differs from revenue computed in accordance with U.S. GAAP in that it excludes insurance premiums. Additionally, Fee Related Revenues is reduced by the costs associated with our property operations, which are managed internally in order to enhance returns to the Limited Partners in our funds. Fund Management Fees Fund management fees refers to fees we earn for advisory services provided to our funds, which are generally based on total commitments, invested capital or net asset value managed by us. Fund management fees are generally based on a quarterly measurement period and amounts are paid in advance of recognizing revenue. Operating Company Bridge Investment Group Holdings LLC, or the Operating Company, acts as a holding company of certain affiliates that provide an array of real estate-related services. The Operating Company is the ultimate controlling entity, through its wholly owned subsidiary Bridge Fund Management Holdings LLC, of the investment manager entities, which we refer to collectively as the Fund Managers.

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