Slide 1: First Quarter 2026 Results
First Quarter 2026 Results Earnings Presentation 7 May 2026
Slide 2: Important Disclosures
Important Disclosures IMPORTANT NOTICES The inclusion of references to Ridgepost Capital, Inc. (“Ridgepost Capital” or the “Company”) in this presentation is for inf orm ation purposes only as the holding company of various subsidiaries. Ridgepost Capital does not offer investment advisory services
Slide 3: First Quarter 2026 Financial Highlights
HIGHLIGHTS First Quarter 2026 Financial Highlights Financial Results Three Months Ended Q1'26 vs Q1'25 ($ in Millions, except as otherwise indicated) March 31, 2026 March 31, 2025 % Change Actual FPAUM ($Bn) $ 31.0 $ 26.3 18% GAAP Financial Metrics Revenue $ 75.0 $ 67.7 11% Operating Expenses $ 55.4
Slide 4: Firm Overview
HIGHLIGHTS Firm Overview Ridgepost Capital is a leading private markets solutions provider with over $45 billion in AUM We invest across Private Equity, Private Credit, and Venture Capital in access - constrained strategies, with a focus on the middle and lower -middle market Private Equity Private
Slide 5: First Quarter 2026 Highlights
HIGHLIGHTS First Quarter 2026 Highlights Key Business • Fee paying assets under management (FPAUM) of $31.0B represented an Drivers 18% increase from the prior year • In the quarter, approximately $2.0B of fundraising and deployment was offset by $413M of stepdowns and expirations • Private Equity S
Slide 6: First Quarter 2026 Highlights, continued
HIGHLIGHTS First Quarter 2026 Highlights, continued Balance Sheet & • Declared a quarterly cash dividend of $0.04 per share for Class A and Class B stock, Capital Return payable on June 18, 2026, for holders as of the close of business on May 29, 2026 • In the first quarter, we made a net drawdown o
Slide 7: FPAUM and Average Fee Rate Detail
HIGHLIGHTS FPAUM and Average Fee Rate Detail Robust FPAUM growth and stable, attractive fee rates Average Fee Rate 1 (Bps) FPAUM Growth ($B) Quarterly average fee rates show the basis points attributable to management & advisory fees excl. direct & co - invest/secondaries catch -up fees and direct &
Slide 8: Fee Paying AUM Growth Model
HIGHLIGHTS Fee Paying AUM Growth Model Long -term, contractually locked -up funds ensure highly sticky FPAUM base Trailing Twelve Months FPAUM Roll Forward ($B) Quarterly FPAUM Roll Forward ($B) 1.0 0.1 1.5 31.0 1.6 0.4 31.0 4.2 29.4 (2.1) (0.0) (0.4) 26.3 Mar-25 Raised Deployed Acquisition FX Stepd
Slide 9: Financial Details
Financial Details
Slide 10: Consolidated Statements of Operations (unaudited)
FINANCIAL DETAILS Consolidated Statements of Operations (unaudited) Three Months Ended % Change (Dollars in thousands except share and per share amounts) March 31, 2026 March 31, 2025 Q1'26 vs Q1'25 Revenues Management and advisory fees 73,609 66,735 10% Other revenue 1,415 932 52% Total Revenues $
Slide 11: Adjusted FRE (unaudited)
FINANCIAL DETAILS Adjusted FRE (unaudited) Three Months Ended Three Months Ended (Dollars in thousands except share and per share amounts) March 31, 2026 March 31, 2026 Adjustments Adjusted Line Item Revenues Management and advisory fees 73,609 327 73,936 Other revenue 1,415 1,415 Total revenues $ 7
Slide 12: Non-GAAP Financial Measures (unaudited)
FINANCIAL DETAILS Non - GAAP Financial Measures (unaudited) T hre e M o nt hs E nde d % C ha nge (Do llars in tho usands except share and per share amo unts) M a rc h 3 1, 2 0 2 6 M a rc h 3 1, 2 0 2 5 Q 1'2 6 v s Q 1'2 5 G A A P N e t Inc o m e $ 9 ,6 8 9 $ 4 ,6 9 6 10 6 % A djus t m e nt s : Depre
Slide 13: Consolidated Balance Sheets (unaudited)
FINANCIAL DETAILS Consolidated Balance Sheets (unaudited) (Dollars in thousands except share amounts) March 31, 2026 December 31, 2025 Assets Cash and cash equivalents $ 29,029 $ 28,152 Restricted cash 909 734 Accounts receivable 25,353 26,955 Notes receivable 7,216 7,205 Due from related parties 98
Slide 14: Consolidated Statements of Cash Flows (unaudited)
FINANCIAL DETAILS Consolidated Statements of Cash Flows (unaudited) Thre e Months Ende d (Dollars in thousands) Ma rc h 3 1, 2 0 2 6 Ma rc h 3 1, 2 0 2 5 Ca sh Flows From O pe ra ting Ac tivitie s Net income $ 9,689 $ 4,696 Adjustments to reconcile net income to net cash provided by (used in) operat
Slide 15: Appendix
Appendix
Slide 16: Compelling Business Model Built on Durable Fee-Related Earnings
APPENDIX Compelling Business Model Built on Durable Fee -Related Earnings FRE - Centric Business Aligned Incentives Predictable, Stable “Model” • Carried interest structured Earnings Growth • Highly -recurring, diversified to stay overwhelmingly with revenues composed almost investment teams to opti
Slide 17: Focused Investment Strategies with Leadership in Attractive MM/LMM
APPENDIX Focused Investment Strategies with Leadership in Attractive MM/LMM Strategies investing in specialized and/or fragmented markets, with a Long Investment particular focus on the attractive History of Stategy middle and lower - middle market Success Focus segment • Capital availability / oppo
Slide 18: Well-Positioned to Utilize Variety of Levers to Drive Growth
APPENDIX Well-Positioned to Utilize Variety of Levers to Drive Growth Robust Foundation for a Range of Levers to Drive Organic and Inorganic Growth Attractive Private Markets Ecosystem World - class private Leader in attractive Compelling business Large and diverse markets strategies with MM/ LMM ,
Slide 19: Performance Summary – Private Equity
APPENDIX Performance Summary – Private Equity Preeminent investment teams with a superior track record across portfolio solutions 1 Fund Size Fund Size Fund Vintage Called Capital Net IRR Net ROIC Fund Vintage Called Capital Net IRR Net ROIC ($M) ($M) Fund - of- Funds (Fund size as of 3/31/26, perfo
Slide 20: Performance Summary – Private Equity
APPENDIX Performance Summary – Private Equity Preeminent investment teams with a superior track record across portfolio solutions 1 Called Net Fund Size Fund Vintage Fund Size ($M) Net IRR Fund Vintage Called Capital Net IRR Net ROIC Capital ROIC (€M) GP Stakes Funds (Fund size as of 3/31/26, perfor
Slide 21: Performance Summary – Private Credit
APPENDIX Performance Summary – Private Credit Preeminent investment teams with a superior track record across portfolio solutions 1 Called Called Net Fund Vintage Fund Size ($M) Net IRR Net ROIC Fund Vintage Fund Size ($M) Net IRR Capital Capital ROIC NAV Lending Funds (Fund size as of 3/31/26, perf
Slide 22: Performance Summary – Private Credit
APPENDIX Performance Summary – Private Credit Preeminent investment teams with a superior track record across portfolio solutions 1 Called Called Fund Vintage Fund Size ($M) Net IRR Net ROIC Fund Vintage Fund Size ($M) Net IRR Net ROIC Capital Capital Credit Funds (Fund size as of 3/31/26, performan
Slide 23: Performance Summary – Venture Capital
APPENDIX Performance Summary – Venture Capital Preeminent investment teams with a superior track record across portfolio solutions 1 Fund Size Called Net Fund Vintage Net IRR ($M) Capital ROIC Fund - of- Funds (Fund size as of 3/31/26, performance as of 12/31/25) Fund I 2007 $311 93% 13.2% 2.9x Fund
Slide 24: Premier Private Markets Solutions Provider
APPENDIX Premier Private Markets Solutions Provider Comprehensive suite of private market vehicles 1 Primary Solutions Direct and Co - Investments Secondary Investments Asset Class • Private Equity • Private Equity • Private Equity • Venture Capital • Venture Capital • Venture Capital • Private Cred
Slide 25: Fee Paying AUM Across Diversified Vehicles
APPENDIX Fee Paying AUM Across Diversified Vehicles Multi -asset investment platform with strong organic growth Diversified Base and Growth Across Vehicles Key Metrics FPAUM Composition (As of Q1’26) Primary Solutions $16.5B 14% FPAUM as of Q1’26 Actual FPAUM CAGR Total Primary Solutions 53% Q4’20 –
Slide 26: Highly Diversified Investor Base
APPENDIX Highly Diversified Investor Base Multi -asset class investment plat form attracts diversified investors across various channels Investor Type by Channel Investor Channel Breakdown Wealth Manager / HNW 37% Pension Fund 18% Endowment / Foundation 18% Financial Institution 13% Insurance Compan
Slide 27: Well Positioned in Attractive, Specialized, and Growing Markets
APPENDIX Well Positioned in Attractive, Specialized, and Growing Markets 1 Capital Available Universe of by Fund Size 2 Companies by Revenue Size 3 $861B of capital available to PE 6,708 Funds over $1B 84% companies 7% w/ revenues >$250M Lower - Middle Market $170B of capital Benefits available to F
Slide 28: Unique Proprietary Data Set Driving Sourcing and Evaluation
APPENDIX Unique Proprietary Data Set Driving Sourcing and Evaluation Differentiation and Provides Asymmetric Information Advantage Distinct market access, deal flow, and data analytics to navigate private markets Overview • Unique and extensive proprietary analytics database • A competitive edge for
Slide 29: Tax Assets
APPENDIX Tax Assets Combination of intangible assets, goodwill, and NOLs generate tax benefits Commentary Size • Tax basis intangible assets and tax - deductible Intangible goodwill are available to reduce federal income Assets and tax ratably over fifteen years Goodwill and Goodwill • Currently, ta
Slide 30: Notes
Notes
Slide 31: Key Terms & Supplemental Information
NOTES Key Terms & Supplemental Information Below is a description of our unaudited non -GAAP financial measures. These are not FEE - RELATED EARNINGS measures of financial performance under GAAP and should not be construed as a Fee -Related Earnings is a non -GAAP performance measure used to monitor
Slide 32: Disclosures
NOTES Disclosures PERFORMANCE DISCLOSURES RCP ADVISORS PERFORMANCE DISCLOSURES : The historical performance of our investments should not be considered as indicative of the future • Past performance does not predict, and is not a guarantee of, future results. The historical results of our investment
Slide 33: Disclosures
NOTES Disclosures RCP ADVISORS PERFORMANCE DISCLOSURES (CONTINUED) : RCP ADVISORS PERFORMANCE DISCLOSURES (CONTINUED) : • The actual performance returns of each investor may vary (in some cases, materially) and are • Direct Fund Performance. With limited exceptions, Direct Funds generally do not pay
Slide 34: Disclosures
NOTES Disclosures BONACCORD PERFORMANCE DISCLOSURES : QUALITAS PERFORMANCE DISCLOSURES : • Net Performance for BCP I is determined assuming a limited partner was admitted at the first • The information presented herein is for informational purposes only, reflects historical data as of closing and is
Slide 35: Disclosures
NOTES Disclosures HARK PERFORMANCE DISCLOSURES : ENHANCED PERFORMANCE DISCLOSURES : • ROIC: Represents the return on invested capital. ROIC is calculated by dividing the sum of • Past performance is not indicative of future results. All investments bear the risk of loss. Risks distributions plus tot
Slide 36: Disclosures
NOTES Disclosures ENHANCED PERFORMANCE DISCLOSURES (CONTINUED) : ENHANCED PERFORMANCE DISCLOSURES (CONTINUED) : • Project Finance, Small Business Lending Net is hypothetical and reflects Client returns after • Net Internal Rate of Return is unlevered. allocation of management fees, interest expense,
Slide 37: Disclosures
NOTES Disclosures WTI PERFORMANCE DISCLOSURES : WTI PERFORMANCE DISCLOSURES (CONTINUED) : • The performance data in this presentation represents past performance only and is not a • Private Funds Entail Risks. Private funds are speculative investments and are not suitable for all guarantee of future
Slide 38: Thank You
Thank You 2699 HOWELL STREET, SUITE 1000 DALLAS, TX 75204 214.865.7998 INFO@RIDGEPOSTCAPITAL.COM