Slide 1: EQT AB Q1 Announcement 2024
EQT AB Q1 Announcement 2024 Webcast presentation 18 April 2024
Slide 2: A promising start to 2024 - and to EQT's fourth decade
A promising start to 2024 - and to EQT’s fourth decade The webcast will begin shortly
Slide 3: Q1 2024 in brief
Q1 2024 in brief A promising start to 2024 - and to EQT’s fourth decade Strategic Fundraising Total AUM Deal activity (EURbn) EUR 242bn FAUM (EURbn) Investments4 Q1 ✓ EQT X closed at hard cap, EUR ~22bn1 132 17 119 14 ✓ EQT Future fund closed 4 5 14 ✓ Launch of EQT Healthcare Growth 9 ✓ Reconfirme
Slide 4: We have a long runway for growth
We have a long runway for growth Selectively pursue M&A opportunities Continue to invest in relationships and distribution channels Scale recent initiatives, while building new initiatives Grow flagship funds across all platforms 4
Slide 5: A large part of our portfolio is still in value creation mode
A large part of our portfolio is still in value creation mode With a young portfolio, there is still some time before realization volumes are expected to pick up materially Share of current portfolio held for longer than 5 years ✓ Thematic investments approach 4/4 ~25% ✓ ✓ Deep sector expertise Valu
Slide 6: Forward thinking from the start
Forward thinking from the start 6
Slide 7: Successful final close of EQT X and EQT Future
Successful final close of EQT X and EQT Future Fundraising market continues to be challenging Fundraising activity Fundraising update Dry powder EUR >50bn Private BPEA EQT Mid EQT Healthcare Capital ✓ EQT X closed at hard cap, Market Growth Growth EUR 21.7bn1 ✓ The EQT Future fund closed at EUR 3bn
Slide 8: Continued healthy investment activity, whilst exit volumes are yet to pick up
Continued healthy investment activity, whilst exit volumes are yet to pick up Investments1 Exits1 (EURbn) Per quarter (EURbn) Per quarter LTM 35 35 LTM 30 26 22 22 22 20 19 17 17 18 17 Only includes a 16 16 15 17 14 15 14 14 minimal sale of 12 12 Galderma at IPO 11 8 8 7 7 7 7 6 6 5 5 4 5 5 4 4 3 3
Slide 9: Increase in FAUM mainly driven by closed out commitments from EQT X and EQT Infrastructure VI
Increase in FAUM mainly driven by closed out commitments from EQT X and EQT Infrastructure VI FAUM development Q1 2024 LTM FAUM development Q1 2024 9
Slide 10: All of EQT's ten Key funds continue to perform On or Above plan
All of EQT’s ten Key funds continue to perform On or Above plan New deals enter at 1.0x. Underlying value increase was ~2-6% EQT VII EQT VIII EQT IX EQT X – Above plan – Above plan – On plan – On plan Private 2.7x 2.7x 2.6x 2.6x 2.5x 2.3x 2.2x 2.3x 2.2x 2.2x Capital 1.4x 1.4x 1.4x 1.3x 1.4x EU & NA
Slide 11: Performance is the foundation for future success, and is expected to drive material carried interest
Performance is the foundation for future success, and is expected to drive material carried interest Gross # of Fund 2015 2016 2017 2018 2019 2020 2021 2022 2023 MOIC exits1 EQT VII 2.5x 12 ~5 years 2.7x EQT Infra III 8 ~4 years EUR ~8.5bn future EQT VIII 2.2x 7 ~3 years total EQT AB share of
Slide 12: Slight increase in FTE+ during the first quarter
Slight increase in FTE+ during the first quarter Hiring set to continue in strategic growth areas Number of FTE+ Prioritizations Majority of increase in Private Wealth Of which BPEA and other M&A ~3101 • Selective hiring within 1,838 1,859 Investment strategic areas, such as the 1,790 advisory teams
Slide 13: Summary: key funds perform On or Above plan
Strong final close of EQT X and EQT Future, yet fundraising market is expected to remain slow until realizations pick up materially All of EQT’s ten Key funds continue to perform On or Above plan 1 Continued execution on thematic investments, while exit activity is expected to pick up more gradually
Slide 14: Appendix
Appendix 14
Slide 15: A truly diversified and global platform
A truly diversified and global platform Private Capital Real Assets FAUM EUR 132bn Asia Europe & North America Infrastructure Real Estate Total AUM EUR 17bn EUR 56bn EUR 37bn EUR 22bn EUR 242bn Emerging Companies & Assets Early Stage Early Stage Technology Healthcare Mid Market Growth Pr