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Portfolio Company: D-Marin Fund Investment: Europe / Americas VII 30 July 2026 2026 Half-Year Results Presentation
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H1 2026 key highlights 2 Continued record realisations1 – €24bn LTM, at highly attractive returns Private Wealth aggregate value3 x4 YoY; strong progress in Insurance with the AIG partnership and expanded capabilities with Marathon €153bn FPAUM, +9% YoY, with Credit, Secondaries & Infrastructure +19% Diversification continues: Credit, Secondaries and Infrastructure now >55% of FPAUM2 Strong financial performance – H1-26 EBITDA4 +12% YoY to €554m Note: Totals may not sum due to rounding. 1. Signed realisations across Private Equity, Secondaries and Infrastructure (excl. Credit) as at 30 June 2026. 2. As at 30 June 2026, pro forma for the closing of the acquisition of Marathon. 3. Including 1 July 2026 subscriptions and corresponding leverage, as applicable. 4. References throughout this presentation to Revenue, EBITDA, Profit after tax, Management fees, Operating expenses, Fee-related earnings, Performance-related earnings, Earnings per share are equivalent to the adjusted measures presented in the Group’s 2026 Half-Year financial report.
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€11bn H1 FPAUM gross inflows with broad- based strength across the platform Consistent deployment driving LTM to €26bn, with strong pipeline Record LTM realisations +79%YoY. PE realisations at 2.8x Gross MOIC3 and 21% Gross IRR3 H1-26 – Strong operating performance… 3 Note: Totals may not sum due to rounding. 1. Signed realisations across Private Equity, Secondaries and Infrastructure (excl. Credit) as at 30 June 2026. 2. Includes signed but not yet closed investments as at 30 June 2026. Secondaries deployment is net investment exposure which re presents the initial funded equity purchase price plus unfunded commitments reasonably expected to be called over the life of th e transaction. Credit deployment based on movement in FPAUM by vehicle (excl. FX and exits). 3. Weighted average by invested capital for Private Equity signed realisations over LTM-Jun-26. 4. Across PE and Infrastructure. Excluding FX. 11% including FX. 3.6 12.3 9.6 11.5 €13.2bn €23.8bn LTM Jun-25 LTM Jun-26 Realisations1 Deployment2 H2 H1 LTM value creation +11%4, reflecting benefits of our powerful sourcing and value creation engines 11.6 12.4 13.3 13.5 €24.9bn €25.9bn LTM Jun-25 LTM Jun-26
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397 442 96 110- 2 €493m €554m H1-25 H1-26 71.5 71.3 42.8 46.7 11.8 16.5 14.1 18.8 €140bn €153bn Jun-25 Jun-26 … translating into strong financial performance 4 Note: Totals may not sum due to rounding. 1. References throughout this presentation to Revenue, EBITDA, Profit after tax, Management fees, Operating expenses, Fee-related earnings, Performance-related earnings, Earnings per share are equivalent to the adjusted measures presented in the Group’s 2026 Half-Year financial report. FPAUM +9% YoY, with Credit, Secondaries & Infrastructure +19% H1-26 fee-related revenues +9% YoY Strong cash generation supports ~€0.26 interim DPS, up 12% YoY, and ongoing buy-back programme EBITDA1 +12% YoY and EPS1 +11% YoY at €0.40 EBITDA1Fee-related revenues1FPAUM PRE2 FRE2Private Equity Credit Secondaries Infrastructure Other op. income 697 749 8 22€705m €771m H1-25 H1-26 of which catch-up fees
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Another record year for realisations… 5 LTM-Jun-26 realisations grew +79% YoY1 Record realisations at 2.8x Gross MOIC2 and 21% Gross IRR2 Note: Totals may not sum due to rounding. 1. Signed realisations as at 30 June 2026. 2. Weighted average by invested capital for Private Equity signed realisations over LTM -Jun-26. Private Equity InfrastructureSecondaries 11.3 20.7 8.7 9.9 0.9 1.6 0.4 0.7 1.0 1.4 0.5 0.8 €13.2bn €23.8bn €9.6bn €11.5bn LTM Jun-25 LTM Jun-26 H1-25 H1-26 Selected H1 2026 realisations1 Europe / AmericasInfraAsia
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6 … further underpinning our unparalleled track record of returning capital to our clients €8bn €12bn €25bn €35bn €42bn €10bn €15bn €26bn €46bn €56bn To Dec-22 To Dec-23 To Dec-24 To Dec-25 To Jun-26 33% more capital returned than called since 2022 across Private Equity PE deployment PE realisations Note: Totals may not sum due to rounding. 1. Signed realisations as at 30 June 2026. 2. Includes signed but not yet closed investments as at 30 June 2026. 3. Weighted average by invested capital for Private Equity (or Europe / Americas) signed realisations over since 31 December 202 1. Delivered at highly attractive investment returns of 3.6x Gross MOIC3 and 26% Gross IRR3, evidencing portfolio quality, exit flexibility and validating conservatism of marks Private Equity cumulative realisations1 vs. deployment2 since Jan-22
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5% 9% 11% 14% 16% Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Strong momentum in value creation and portfolio company growth LTM value creation (excl. FX)2 7 LTM revenue and EBITDA growth1 9% 10% 11% 11% 11% Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 13%13%14%12% 10% 9%9%10%10%9% May-26Mar-26Dec-25Sep-25Jun-25 14%14%13%12% 10% 9%9%9%8%8% May-26Mar-26Dec-25Sep-25Jun-25 Private Equity – all funds Europe / Americas Fund VIII Revenue EBITDA Strong value creation through active ownership; including high focus on AI adoption across portfolio companies Private Equity & Infrastructure Europe / Americas Fund VIII 1. Weighted average of reporting currency growth per portfolio company. Latest figure as of May-26 given reporting lag. 2. 11% as at 30 June 2026 including FX for Private Equity & Infrastructure. 17% as at 30 June 2026 including FX for Europe / Americas Fund VIII.
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Highly diversified deployment shows the power of our Network 8 Broad-based deployment1 momentum Selected H1 2026 investments1 10.7 10.9 5.8 6.9 10.3 9.0 5.8 4.3 1.9 3.4 0.9 1.3 2.0 2.6 0.9 0.9 €24.9bn €25.9bn €13.3bn €13.5bn LTM Jun-25 LTM Jun-26 H1-25 H1-26 Deployment in line with 3-4-year investment cycle, with healthy pipeline ahead Note: Totals may not sum due to rounding. 1. Includes signed but not yet closed investments as at 30 June 2026. 2. Credit deployment based on movement in FPAUM by vehicle (excl. FX and exits). 3. Secondaries deployment is net investment exposure which represents the initial funded equity purchase price plus unfunded com mitments reasonably expected to be called over the life of the transaction. Private Equity InfrastructureSecondaries3Credit2 Europe / AmericasCatalystStratOpsPrivate Credit Animal Nutrition & Health Food Ingredients Asia Infra
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CVC – a world-class platform, Built for Performance… 9 Exceptional investment and value creation engine • Diversified platform with strong positions in sizeable, attractive markets • Extensive global Network of 30 offices and specialist teams • Deep deal-origination funnel within each of our platforms • Strong value creation through active ownership • Unique compensation model, designed for shared, long-term success • Fully integrated as One CVC Highest quality client base and relationships • Outstanding and consistent performance track record through the cycle • Deep investor relationships with a high- quality client base who want to do more with us • Scale to provide for complex and changing client needs • Diversified fundraising across sources of capital: Institutions, Insurance and Private Wealth
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Underpinning double digit CAGR in FPAUM to 2028 and a clear path to earnings step-up in 2028 … and positioned for growth 10 Market share gains reflecting consistent outperformance and investor appetite for Europe Significant potential with established Institutional clients, substantial runway with Insurance and Private Wealth Attractive growth in Private Equity, fast scaling in Credit, Secondaries and Infrastructure Note: Please refer to the Important Information and Risk Disclosures at the back of this presentation.
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11 Strong execution of closed-end Institutional capital raising… Note: Please refer to the Important Information and Risk Disclosures at the back of this presentation. 1. Including leverage, co-invest and SMAs. 2. Includes co-invest and SMAs. 3. Includes co-invest, overflow fund and GP commitment. 4. Includes GP commitment. 5. Includes GP commitment and SMAs. 6. Excluding leverage, co-invest and SMAs. H1 2026 final close Active marketing Final close imminent Credit: CLO Equity IV $1.0bn1 (+25% on previous fund) Private Equity: Catalyst III $3.4bn2 (+70% on target) Infrastructure: DIF VIII €3.3bn to date4 (€6bn target, H1-27 final close) Credit: CapSol IV €515m to date5 (€2bn target, Q4-27 final close) Credit: EUDL V €5bn target6 Secondaries: Credit $500m target Future launch – next 12 months Secondaries: SOF VI $9.3bn to date3 ($7bn target, Q3-26 final close) Infrastructure: Value Add IV €1.9bn to date4 (€2bn target, Q4-26 final close) Private Equity: Europe / Americas Fund X Secondaries: Infrastructure
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€6bn €6bn €4bn €13bn €12bn €9bn €14bn €11bn €26bn €5bn €11bn €17bn €20bn €59bn €71bn €80bn €94bn €104bn H1-22 H2-22 H1-23 H2-23 H1-24 H2-24 H1-25 H2-25 H1-26 …driven by continued momentum in longer-term structural trends 12 Well placed for Fund X fundraising given performance, capital returns, and rebalancing towards Europe Note: Totals may not sum due to rounding. Please refer to the Important Information and Risk Disclosures at the back of this presentation. Concentration of GP relationships Focus on GPs consistently generating “alpha” in private markets Emphasis on “cash on cash” returns and DPI Rebalancing towards Europe Prior period cumulative gross inflows Half yearly gross inflows - excluding Europe / Americas Fund IX Significant step change in gross inflows over last four years, reflecting the scaling of our platform Half-yearly FPAUM gross inflows since 2022 Europe / Americas Fund IX
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CVC Private Wealth continues to expand €0.3bn €0.8bn €1.7bn €3.5bn €6.7bn1 Dec-23 Jun-24 Dec-24 Jun-25 Dec-25 Jun-26 13 All CVC platforms now have an evergreen structure active Further gains in total aggregate value driven by market-leading performance Private Equity CVC-PE CVC-PEF US Secondaries CVC-PESEC Lux CVC-PESEC US Infrastructure CVC-INFRA CVC-CRED 9% annualised return since inception2 Note: Totals may not sum due to rounding. Please refer to the Important Information and Risk Disclosures at the back of this presentation. 1. Including 1 July 2026 subscriptions and corresponding leverage, as applicable. 2. CVC-CRED Class I EUR accumulating and Class I EUR distributing shares, since inception date (15 May 2024), as at 29 May 2026. 3. CVC-PE Class I EUR accumulating shares, since inception date (20 February 2025), as at 29 May 2026. CVC-PE 22% annualised return since inception3 CVC-PE(F) CVC-CRED CVC-PESEC CVC-INFRA Credit CVC-CRED €6.7bn of value at H1 2026, with a growing pipeline of distributors globally
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€21bn €27bn €34bn €38bn €41bn €45bn €47bn Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 Jun-26 Credit & Insurance: strong historical growth… 14 #1 / #9 CLO manager in Europe / globally3 0.8% / 0.2% CLO default / loss rate since inception4 1. #2 European Private Credit Manager in European Direct Lending Q1’26 transactions, as per Octus’ European Q1 2026 Direct Lending Market Review. 2. As at 31 March 2026. CVC annualised default rate is calculated based on payment defaults and restructured investments on the European Direct Lending platform. 3. As per Creditflux CLO-I AUM ranking, as at 30 June 2026. The Creditflux rankings provide a full and comprehensive view of CLO managers by their principal liabilities (debt and equity) as at 30 June 2026. 4. As at 31 December 2025. Refers to loan defaults within the J.P. Morgan Loan Default Monitor universe. Liquid Credit +12% CAGR Private Credit +30% CAGR +16% CAGR Top 3 European Private Credit manager1 0.2% European Direct Lending annualised default rate since inception2 FPAUM evolution, Dec-20 to Jun-26 … underpinned by strong investment performance and a 0.2% loss rate across multiple cycles
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Credit & Insurance: future growth vectors 15 CVC Credit FPAUM, pro forma for Marathon Jun-26Credit & Insurance: €60bn+ of FPAUM (pro forma for acquisition of Marathon as at 30 June 2026) Asset-based Lending Structured Credit Real Estate Credit Direct Lending (95% Europe) Capital Solutions / Opportunistic Credit Liquid Credit (CLOs) Key new capabilities in attractive segments of the market Expanded investment capabilities overlaid with widened distribution channels: ➢ Deepen and grow in the Institutional channel, ➢ Accelerate scaling in Private Wealth, ➢ Drive further penetration in Insurance… Note: Please refer to the Important Information and Risk Disclosures at the back of this presentation.
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Credit & Insurance: supporting insurers with their growing demand for private markets 16 Investing in further origination and specialist capabilities to increase share of walletStrong existing momentum with Insurance clients Investment capabilities expanded by acquisition of Marathon Capital and risk modelling advisory Customised solutions Strategic partnerships to support insurers’ strategic needs €18bn+ of capital raised from Insurers since 2021 25% of EUDL IV commitments 29% of SOF VI commitments Direct expertise through our portfolio companies AIG $3.5bn strategic partnership $1bn insurance structure1 raised for Secondaries 1. Collateralised Fund Obligation or CFO, raised in 2025.
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26.0 (13.7) (0.6) 1.4 140.1 153.2 Jun-25 Gross inflows Exits Step downs FX and other Jun-26 FPAUM +9% YoY with strong growth in Credit, Secondaries, and Infrastructure 17 LTM FPAUM development (€bn) FPAUM by platform (€bn) +19% FPAUM YoY in Credit, Secondaries and Infrastructure, while PE fundraising offset by strong realisations Note: Totals may not sum due to rounding. 1. FPAUM as at 30 June 2025 are pro forma for Continuation Vehicle deployment / realisation. Jun-251 Jun-26 Private Equity 71.5 71.3 Secondaries 11.8 16.5 Credit 42.8 46.7 Infrastructure 14.1 18.8 Total 140.1 153.2
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P&L evolution 18 Double-digit % growth in H1-26 in FRE and PRE Fee-related revenues (€m)1 8 22705 771 H1-25 H1-26 397 442 96 110- 2493 554 H1-25 H1-26 Note: Totals may not sum due to rounding. 1. References throughout this presentation to Revenue, EBITDA, Profit after tax, Management fees, Operating expenses, Fee-related earnings, Performance-related earnings, Earnings per share are equivalent to the adjusted measures presented in the Group’s 2026 Half-Year financial report. +9% EBITDA (€m)1 +12% +11% FRE margin Profit after tax (€m)1 56% 396 57% 434 FRE PRE Other op. income +9% in fee-related revenues vs. H1-25 +11% increase in FRE vs. H1-25 57% FRE margin €110m PRE in H1-26 €434m profit after tax in H1-26 +15% of which catch-up fees
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213 241 95 88 308 329 H1-25 H1-26 Operating expenses 19 Operating expenses (€m)1 Note: Totals may not sum due to rounding. 1. References throughout this presentation to Revenue, EBITDA, Profit after tax, Management fees, Operating expenses, Fee-related earnings, Performance-related earnings, Earnings per share are equivalent to the adjusted measures presented in the Group’s 2026 Half-Year financial report. 2. Performance-fee-related costs (PFC) (€42m in H1-25 and €58m in H1-26) relate to employee compensation that is deemed attributabl e to the generation of carried interest, performance fees and investment income. Total operating expenses growth of +7% in H1-26 YoY, reflecting cost discipline despite investment in new initiatives Still expect cost growth slightly below 10% for the full year, with higher growth in the second half due to phasing of hirings Continued cost discipline even as we continue to invest in our growth areas Total people costs (net of PFC2) Non-people costs +7%
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Substantial further build over 2028-2029, with expected aggregate PRE of €1.2-1.5bn, as Fund VIII recognises initial IFRS carry at 30% contribution to IPO perimeter (vs. 0% for Fund VI and 15% for Fund VII) Reaffirming PRE1 guidance for 2026-27 and 2028-29 20 €5bn2 future carry potential3, underpinning future PRE growth Unchanged guidance of ~€600-700m aggregate PRE over 2026-27, with most likely path being 2026 still at around the 2025 level of €254m Note: Please refer to the Important Information and Risk Disclosures at the back of this presentation. 1. References throughout this presentation to Revenue, EBITDA, Profit after tax, Management fees, Operating expenses, Fee-related earnings, Performance-related earnings, Earnings per share are equivalent to the adjusted measures presented in the Group’s 2026 Half-Year financial report. 2. Mid-point of a €3.3-7.2bn range implied by key funds performing on plan. List of material funds and definition of “on plan” and “above plan” as per the Group’s 2026 Q1 Activity Update. Excluding €0.8bn of carry recognised as at 30 June 2026. 3. Net carried interest as presented above is calculated net of management fees and other expenses. Excluding investment income and performance-related costs.
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21 Strong balance sheet and cash generative model support growing distributions Simple and capital-light balance sheet Strong cash generation and conservative leverage Growing distributions to shareholders, along with investment for organic growth Committed to progressive dividends linked to FRE growth, with excess cashflow distributions - €275m dividend for H1 2026 to be paid in September 2026 - Ongoing share buyback programme of up to €350m – €194m completed Summary balance sheet as at 30 June 2026 1. CVC’s share of the net assets in each of the investment vehicles after excluding assets attributable to non-controlling interests (€778m). 2. CVC issued private placement notes with a principal balance of €1.25bn in June 2021. At issue, the notes had a weighted avera ge tenor of 15 years and weighted average interest rate of 1.8% (fixed). In June 2024, CVC issued additional private placement notes with a principal balance of €200m. At issue, the notes had a weighted average tenor of 15 years and weighted average interest rate of 4.7% (fixed). In June 2026, CVC issued $550m of additional private placement notes. At issue, the notes had a weighted average tenor of 7 years and weighted average inter est rate of 5.76% (fixed). Long-term corporate debt excludes capitalised borrowing costs of €22m, borrowings related to specific Credit investments of € 122m, and other long-term debt of €14m. 3. Cash excludes cash held by the consolidated funds, RCF drawings, and an adjustment for the cash consideration of the Marathon acquisition, closed on July 1st (€365m). 4. Based on long term debt of €2,063m (inclusive of €131m of guarantees and interest), cash of €645m and LTM -Jun-26 EBITDA of 1,151m. €1,047m1 €1,932m2 Weighted avg. tenor of 9 years Weighted avg. interest rate of 3.06% (fixed) €645m3 GP commitments Long-term debt Cash 1.2x4Net debt leverage €275m interim dividend Ongoing buy-back programmeCash returns
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Underpinning double digit CAGR in FPAUM to 2028 and a clear path to earnings step-up in 2028 CVC – Built for Performance, positioned for growth 22 Record realisations, healthy deployment and strong value creation across platforms Translating to strong double-digit growth in EBITDA, EPS and DPS H1-26 Strong fundraising momentum diversified by client channel and strategy Market share gains reflecting consistent outperformance and investor appetite for Europe Significant potential with established Institutional clients, substantial runway with Insurance and Private Wealth Further growth in Private Equity, fast scaling in Credit, Secondaries and Infrastructure Strong delivery in H1-26… …and well positioned for future growth
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Appendix
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Summary adjusted pro forma income statement1 24 Note: Totals may not sum due to rounding. 1. References throughout this presentation to Revenue, EBITDA, Profit after tax, Management fees, Operating expenses, Fee-related earnings, Performance-related earnings, Earnings per share are equivalent to the adjusted measures presented in the Group’s 2026 Half-Year financial report. 2. Includes CVC DIF unless otherwise stated (acquisition closed on 1 July 2024). 3. For the half-year ended 30 June 2026, fee-related revenues includes €1m of fee-related performance revenues (2025: nil). (€m) FY 20232 FY 20242 FY 2025 H1-2025 H1-2026 H1-2025-26 growth Fee-related revenues3 1,080 1,328 1,451 705 771 9% (+) Performance-related earnings 174 182 254 96 110 15% (+) Other operating income 3 3 2 - 2 n.a. Revenue 1,257 1,513 1,707 802 882 10% (-) Personnel expenses (369) (399) (431) (213) (241) 13% (-) Other expenses (153) (148) (186) (95) (88) (7%) EBITDA 734 966 1,091 493 554 12% (-) D&A (37) (39) (44) (22) (20) (9%) (-) Net finance charges (18) (27) (27) (12) (14) 17% (-) Tax (71) (70) (148) (63) (86) 37% Profit after tax 609 830 873 396 434 10% of which attributable to CVC Infrastructure non-controlling interests 30 20 9 18 Select KPIs: Fee-related earnings (FRE) 557 780 835 397 442 11% Fee-related revenues (% of revenue) 86% 88% 85% 88% 87% FRE margin 52% 59% 58% 56% 57% EBITDA margin 58% 64% 64% 62% 63%
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FPAUM evolution 25 FPAUM by segment (€bn) Europe / Americas Asia Strategic Opportunities Catalyst Secondaries Credit Infrastructure Total At 30 June 2025 54.9 8.5 6.7 1.4 11.8 42.8 14.1 140.1 Gross inflows / investments 3.1 0.2 1.1 2.9 4.3 9.0 5.4 26.0 Step-downs - 0.0 - (0.6) 0.0 - - (0.6) Exits (6.0) (0.3) (0.9) (0.1) - (5.6) (0.7) (13.7) FX / other 0.2 0.2 (0.0) 0.1 0.5 0.5 0.0 1.4 At 30 June 2026 52.2 8.6 6.9 3.6 16.5 46.7 18.8 153.2 Weighted average FPAUM1 54.1 8.4 6.9 2.9 18.3 44.1 17.4 152.2 Fee-related revenues (€m)2,3,4 699 113 58 40 174 232 201 1,518 Management fee rate (%) 1.3% 1.3% 0.8% 1.4% 0.9% 0.5% 1.2% 1.0% FPAUM by segment (€bn) Europe / Americas Asia Strategic Opportunities Catalyst Secondaries Credit Infrastructure Total At 31 December 2025 54.0 8.4 7.2 2.0 14.5 44.6 17.4 148.3 Gross inflows / investments 1.0 - 0.4 1.7 1.5 4.3 1.9 10.8 Step-downs - - - (0.1) - - - (0.1) Exits (3.0) (0.0) (0.8) (0.0) - (2.7) (0.6) (7.1) FX / other 0.1 0.2 (0.0) 0.1 0.5 0.5 0.0 1.4 At 30 June 2026 52.2 8.6 6.9 3.6 16.5 46.7 18.8 153.2 Weighted average FPAUM1 55.0 8.4 6.9 4.2 18.1 45.0 19.6 157.2 Fee-related revenues (€m)2,5,6 342 56 29 29 85 118 113 771 Management fee rate (%) 1.3% 1.3% 0.8% 1.4% 0.9% 0.5% 1.2% 1.0% FPAUM evolution since 31 December 2025 FPAUM evolution since 30 June 2025 Note: Totals may not sum due to rounding. 1. Catalyst, Secondaries and Infrastructure WAFPAUM is grossed up to reflect the impact of catch-up fees. 2. References throughout this presentation to Revenue, EBITDA, Profit after tax, Management fees, Operating expenses, Fee-related earnings, Performance-related earnings, Earnings per share are equivalent to the adjusted measures presented in the Group’s 2026 Half -Year financial report. 3. For the year ended 30 June 2026, fee-related revenues includes €3m (2025: €2m) related to managed funds. 4. For the year ended 30 June 2026 fee-related revenues includes €5m of fee-related performance revenues (2025: nil). 5. For the 6 months ended 30 June 2026 fee-related revenues includes €1m (2025: €1m) related to managed funds. 6. For the 6 months ended 30 June 2026 fee-related revenues includes €1m of fee-related performance revenues (2025: nil).
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Investment activity summary 26 (€bn) 2025 2026 Q1 Q2 H1 LTM-Jun FY Q1 Q2 H1 LTM-Jun Private Equity 1.1 4.6 5.8 10.7 9.7 0.9 6.0 6.9 10.9 Secondaries2 0.7 0.2 0.9 1.9 2.9 0.6 0.7 1.3 3.4 Credit3 2.6 3.2 5.8 10.3 10.5 1.8 2.5 4.3 9.0 Infrastructure 0.2 0.7 0.9 2.0 2.6 0.5 0.4 0.9 2.6 Total Deployment 4.6 8.8 13.3 24.9 25.7 3.9 9.7 13.5 25.9 Realisations summary4 Deployment summary1 (€bn) 2025 2026 Q1 Q2 H1 LTM-Jun FY Q1 Q2 H1 LTM-Jun Private Equity 4.9 3.8 8.7 11.3 19.5 4.1 5.9 9.9 20.7 Secondaries 0.2 0.2 0.4 0.9 1.3 0.3 0.4 0.7 1.6 Infrastructure 0.2 0.2 0.5 1.0 1.1 0.6 0.2 0.8 1.4 Total Realisations 5.4 4.2 9.6 13.2 21.9 5.0 6.5 11.5 23.8 Note: Totals may not sum due to rounding. 1. Includes signed but not yet closed investments as at 30 June 2026. 2. Secondaries deployment is net investment exposure which represents the initial funded equity purchase price plus unfunded com mitments reasonably expected to be called over the life of the transaction. 3. Credit deployment based on movement in FPAUM by vehicle (excl. FX and exits). 4. Signed realisations as at 30 June 2026, across Private Equity, Secondaries and Infrastructure (excludes Credit).
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Gross investment performance of key CVC funds 27 Note: Totals may not sum due to rounding. Carried interest contribution to the Group is 30% of total carried interest except for Fund VI (0%), Fund VII (15%), SOF II-V (0%), DIF V-VII / VA I-III (0%) and DIF VIII / VA IV (20%). Carried interest rates are 20% except for StratOps I and StratOps II (12.5% – headline rate), StratOps III (15%) and SOF funds (12.5%). 1. Includes investments that have been signed but have not yet closed as at 30 June 2026 (figures are presented on a committed b asis, e.g. upon signing or announcement of a new investment or investment exit, which may include estimated cashflows that may differ to actual cashf lows that eventuate at closing). Deployment percentages include fees and expenses for which capital has been called from clients. Funds with over 100% deployment include triggered recycled capital. 2. Gross MOIC calculated as total value of investments divided by total invested capital. Total value and invested capital for I nfrastructure includes committed but not yet funded capital of closed investments as at 30 June 2026. 3. Catalyst includes associated co-invest vehicles. 4. The SOF funds account for their investments using a three-month lag, updated for the SOF funds share of capital contributions to and distributions from the underlying investments and a material look through public company exposure. Secondaries includes overflow fund. 5. Impact of true-up commitments made in previous periods. As of 30 June 2026 Invested Capital Value of investments H1-26 activity Gross MOIC2Start date FPAUM Deployment %1 Total Realised Remaining Total Realised Remaining Deployment Realisations Europe / Americas (€bn) Fund VI 2014 - >100% 11.1 6.9 4.2 29.1 23.0 6.1 0.0 0.5 2.6x Fund VII 2018 4.8 >100% 15.1 10.1 5.0 42.8 26.7 16.1 (0.2)5 6.5 2.8x Fund VIII 2021 16.7 95-100% 19.4 1.9 17.5 28.3 1.8 26.5 0.1 1.4 1.5x Fund IX 2024 26.0 60-65% 13.2 - 13.2 16.7 - 16.7 5.2 0.0 1.3x Asia ($bn) Asia IV 2014 - 95-100% 2.9 2.3 0.6 6.4 5.6 0.8 - 0.2 2.2x Asia V 2020 3.0 95-100% 3.7 0.6 3.1 7.4 2.1 5.3 - 0.8 2.0x Asia VI 2024 6.6 40-45% 2.6 0.1 2.5 3.2 0.2 3.0 0.5 0.0 1.2x StratOps (€bn) StratOps I 2016 2.0 90-95% 3.4 2.4 1.0 8.5 4.5 3.9 - 0.0 2.5x StratOps II 2019 3.8 >100% 4.4 1.5 2.9 7.8 2.1 5.7 - 0.5 1.8x StratOps III 2024 1.1 35-40% 1.1 - 1.1 1.3 - 1.3 0.3 0.0 1.1x Catalyst ($bn)3 Growth I 2015 - >100% 0.9 0.8 0.1 2.0 1.4 0.5 - - 2.2x Growth II 2019 1.0 95-100% 1.3 0.2 1.1 1.8 0.3 1.6 (0.0)5 0.0 1.4x Catalyst III 2025 3.1 15-20% 0.1 - 0.1 0.1 - 0.1 0.2 - 1.0x Secondaries ($bn)4 SOF II/III/IV Various 3.3 95-100% 4.9 4.1 0.8 7.8 5.7 2.1 - 0.1 1.6x SOF V 2021 5.6 >100% 5.5 2.3 3.2 8.4 2.6 5.8 - 0.4 1.5x SOF VI 2024 8.7 35-40% 3.0 0.2 2.8 3.7 0.2 3.5 0.7 0.1 1.3x Infrastructure (€bn) DIF V 2017 1.5 95-100% 1.7 0.2 1.4 3.0 0.4 2.6 (0.0)5 0.3 1.8x DIF VI 2020 2.6 95-100% 2.5 0.1 2.4 4.0 0.2 3.8 0.1 0.0 1.6x DIF VII 2022 4.4 90-95% 3.4 - 3.4 4.5 - 4.5 0.1 0.0 1.3x DIF VIII 2025 3.2 15-20% 0.9 - 0.9 0.9 - 0.9 (0.1)5 0.0 1.1x Value-Add I 2017 0.2 95-100% 0.4 0.2 0.2 0.7 0.4 0.3 0.0 0.0 1.7x Value-Add II 2019 0.8 95-100% 0.9 0.1 0.7 1.6 0.3 1.3 0.0 0.1 1.8x Value-Add III 2022 1.6 75-80% 1.1 - 1.1 1.6 - 1.6 0.1 0.0 1.5x
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