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TIKEHAU K CAPITAL Press release Paris , 22 October 2026 € 2.2bn returned to clients year - to - date , with a solid momentum across activities heading into Q4 TIKEHAU ASSET MANAGEMENT • • • € 42.5bn¹ of Fee - Paying AuM as of 30 September 2026 , + 6 % y - o - y at constant perimeter² € 51.7bn of AuM as of 30 September 2026 , + 3 % y - o - y at constant perimeter² € 2.2bn of distributions and returns of capital to LPs year - to - date , including € 1.1bn in Q3 2026 , the highest quarter of the year , demonstrating the platform's ability to deliver liquidity to clients € 3.4bn deployed and € 1.9bn realized in the first nine months of the year . Tikehau maintained a selective approach to deployment , focused on investment quality and attractive risk - adjusted returns . Realizations included the exit of Aubert & Duval and the full liquidation of the third Direct Lending vintage ( 8.1 % net IRR , € 15m of performance - related earnings³ ) € 2.2bn raised year - to - date , including € 0.5bn in Q3 2026 , reflecting a selective fundraising approach focused on supporting FRE generation . Real Assets year - to - date net inflows increased 22 % compared with the same period in 2025 , while the third Credit Secondaries vehicle , anchored by a Korean institutional investor , held its first close BALANCE SHEET • • Investment portfolio of € 4.0bn as of 30 September 2026 , compared with € 4.4bn as of 31 December 2025 , reflecting € 846m of returns of capital and exits , including Schroders ( 1.65x gross MOIC ) € 1.5bn of available resources as of 30 September 2026 , providing the Group with financial flexibility to support its operations and future growth OUTLOOK . Activity is set to accelerate in Q4 , underpinned by a healthy transaction and exit pipeline notably in Private Equity with over € 200m of transactions and three signed exits expected to close in the quarter Fundraising is also expected to be more active in Q4 with € 1.5bn to € 2.0bn anticipated to be raised during the period , driven by a strong pipeline of ongoing discussions across strategies , notably in Private Equity . AuM are expected to reach between € 52.0bn and € 52.5bn as of 31 December 20265 ୧୧ We returned € 2.2bn to our clients over the first nine months , including € 1.1bn in the third quarter alone , and crystallized strong outcomes across the platform , from Aubert & Duval to the full liquidation of our third Direct Lending vintage . Real Assets and Credit Secondaries continued to gain momentum , and our deployment remains disciplined in a market that rewards selectivity . With Private Equity transactions and exits already signed and an active fundraising pipeline , we enter the fourth quarter with positive developments . Our objective is unchanged : deliver profitable AuM growth and long - term value for our clients and shareholders . " Antoine Flamarion and Mathieu Chabran - co - founders of Tikehau 1 Figures have been rounded for presentation purposes , which in some cases may result in rounding differences . 2 At constant perimeter , excluding the change in scope related to the disposal of an 80 % stake in Homunity and Opale Capital , representing € 1bn of AuM and Fee - Paying AuM . 3 Generated between 1 January 2023 and 30 June 2026 . 4 Including cash and cash equivalents and undrawn Revolving Credit Facility . 5 At constant AuM for Capital Markets Strategies vs. 30 September 2026 . KCAPITAL TIKEHAU Press release ⚫ Paris , 22 October 2026 1