Slide 1: Earnings Presentation 3Q 2022
1 EARNINGS PRESENTATION 3Q 2022 N o v e m b e r 4 , 2 0 2 2
Slide 2: Forward-looking statements
2 This presentation may contain forward-looking statements within the meaning of the federal securities laws, including statements relating to (i) our strategy, outlook and growth prospects; (ii) our operational and financial targets and (iii) general economic trends and trends in our industry and m
Slide 3: Agenda
3 AGENDA 1 2 3BUSINESS UPDATE FINANCIAL RESULTS EXECUTING THE DIGITAL PLAYBOOK
Slide 4: Business Update
5 Km Pe itll ig j oP 0° \ i : 4 DIGITALBRIDGE A 4 . » il OH — ; fl a 4 et ‘ oe a t a i Ma re yet 4 go im : o f i *D) 1 BUSINESS UPDATE is 3 } 9 —| 4
Slide 5: Executive Summary: The Things That Matter
5 EXECUTIVE SUMMARY: THE 3 THINGS THAT MATTER Our focus today remains clear - deliver resilient performance through a turbulent macro environment Form Capital Around Great Companies and Strategies Deliver Great Outcomes for our Investors Simplify Our Business and Build Strong Liquidity New Core and
Slide 6: Portfolio Company Performance: Digital Infra Is Resilient
6 PORTFOLIO COMPANY PERFORMANCE: DIGITAL INFRA IS RESILIENT Demand for more, better, faster connectivity and our deep domain expertise is the driver of our businesses and our returns, not interest rates. (1) We define monthly recurring revenue as recurring contractual revenue, including rental, powe
Slide 7: Capital Formation Update
7 CAPITAL FORMATION UPDATE YTD capital formation of $6.8 billion, including $3.4 billion of FEEUM, positions DBRG to meet/exceed 2022 targets and $3.4 billion (following slide) in our co-invest program CREDIT FUND Floating rate product well suited for rising rate environment. Fundraising expected to
Slide 8: Co-Invest: Delivering for Our LPs
8 CO-INVEST: DELIVERING FOR OUR LPs DigitalBridge’s co-invest program is an important component of our investment platform $2.0B $1.5B $0.8B $0.7B $1.3B $1.5B $0.8B $0.6B DataBank GD Towers Switch EdgePoint Taken by Fund LPs Total Closed Disclaimer: Past performance is not indicative of future resul
Slide 9: Continued to Simplify Our Business and Capital Structure
9 CONTINUED TO SIMPLIFY OUR BUSINESS AND CAPITAL STRUCTURE Simple, highly-scalable roadmap with asset management at the core, a strong liquidity position, and taking advantage of dislocated markets with accretive buybacks of our common and preferred shares Asset Management Platform is Strategic Grow
Slide 10: Financial Results
DIGITALBRIDGE ) FINANCIAL RESULTS
Slide 11: 3Q 2022 Financial Overview
11 3Q 2022 FINANCIAL OVERVIEW Note: All $ in millions except per share & AUM TOTAL COMPANY 3Q21 3Q22 % Change from 3Q21 3Q21 LTM 3Q22 LTM % Change from 3Q21 LTM Consolidated Revenues $252.2 $296.6 +18% $865.3 $1,099.3 +27% DBRG OP Share of Revenues $73.6 $99.7 +35% $229.1 $345.2 +51% Net Income (DBR
Slide 12: 3Q 2022 Segment Earnings – Investment Management
12 3Q 2022 SEGMENT EARNINGS – INVESTMENT MANAGEMENT Note: All $ in millions except FEEUM INVESTMENT MANAGEMENT 3Q21 3Q22 % Change from 3Q21 3Q21 LTM 3Q22 LTM % Change from 3Q21 LTM Consolidated Revenues $53.8 $44.0 (18%) $157.0 $194.9 +24% Fee Related Earnings (FRE) $33.7 $21.5 (36%) $87.9 $106.4 +2
Slide 13: 3Q 2022 Segment Earnings – Operating Segment
13 3Q 2022 SEGMENT EARNINGS – OPERATING SEGMENT Note: All $ in millions Continued growth from additions of Houston data center at DataBank and CA-22 at Vantage SDC OPERATING 3Q21 3Q22 % Change from 3Q21 3Q21 LTM 3Q22 LTM % Change from 3Q21 LTM Consolidated Revenues $195.0 $225.4 +16% $700.8 $845.5 +
Slide 14: Stabilized Growth
14 STABILIZED GROWTH Investment Management and Operating segments continue to grow consistently with ‘lower left to upper right trajectory’ (1) Includes run-rate adjustments for closing of the AMP Capital transaction. The purchase of the AMP Capital business is currently under contract and is subjec
Slide 15: Strong Corporate Liquidity
15 STRONG CORPORATE LIQUIDITY During 3Q, proceeds from the DataBank recap, partial return of warehouse funding, and continued legacy asset sales built significant liquidity for the DBRG balance sheet, Over the next two quarters, DigitalBridge expects to maintain strong liquidity and be well position
Slide 16: Continuing to De-Lever the Balance Sheet
16 CONTINUING TO DE-LEVER THE BALANCE SHEET 6/30/22 VFN Repayment DataBank Pro Rata Debt Reduction 9/30/22 DataBank Pro Rata Debt Reduction (2nd Stage) Deconsolidation of Warehoused Investments Repayment & Conversion of Convertible Notes Warehoused Debt Transfer(1) 3/31/23 Operating Segment & Temp.
Slide 17: Executing the Digital Playbook
17 3 EXECUTING THE DIGITAL PLAYBOOK
Slide 18: Delivering Great Outcomes for Our Investors
18 DELIVERING GREAT OUTCOMES FOR OUR INVESTORS Despite rising rates and an inflationary environment, DigitalBridge closed realizations during Q3’22 at ATTRACTIVE VALUATIONS, creating strong proof points for future capital formation while generating $20M net carry for our shareholders1 PREMIER EDGE/C
Slide 19: Case Study: DataBank Recapitalization
19 DELIVERING GREAT OUTCOMES FOR OUR INVESTORS Case Study: DataBank Recapitalization DataBank recapitalization demonstrated our ability deliver great outcomes on multiples fronts, all at the same time, while validating our position as the “partner of choice” to investors $454M(1) $905M Invested Capi
Slide 20: DBRG Accelerates Into Top 10
20 DBRG ACCELERATES INTO TOP 10 Source: Infrastructure Investor, October 2022. Ranking based on capital raised for infrastructure over past 5-years. DBRG’s ranking excludes pro-forma impact of AMP Capital as the transaction has not closed yet, which if included, would push DBRG into rank #7. $7B $13
Slide 21: 3Q 2022 CEO Checklist
21 3Q 2022 CEO CHECKLIST FORM CAPITAL AROUND GREAT COMPANIES AND STRATEGIES SIMPLIFYING OUR BUSINESS AND BUILD STRONG LIQUIDITY o FINISH CORE AND CREDIT o CLOSE AMP LOOKING FORWARD o CLOSE SWITCH o CONTINUE TO STRENGTHEN OUR LIQUIDITY DELIVER GREAT OUTCOMES FOR OUR INVESTORS 4Q $3.4B FEEUM YTD, on t
Slide 22: Q&A Session
east tial DIGITALBRIDGE Q&A SESSION
Slide 23: Appendix
23 5 APPENDIX
Slide 24: Distributable Earnings reconciliation
24 3Q22 LTM 3Q22 2Q22 1Q22 4Q21 3Q21 LTM 3Q21 2Q21 1Q21 4Q20 Net income (loss) attributable to common stockholders $ (383,596) $ (63,273) $ (37,321) $ (262,316) $ (20,686) $ (505,605) $ 41,036 $ (141,260) $ (264,806) $ (140,575) Net income (loss) attributable to noncontrolling common interests in Op
Slide 25: Non-GAAP Reconciliations
25 NON-GAAP RECONCILIATIONS ($ in thousands) 3Q22 LTM 3Q22 2Q22 1Q22 4Q21 3Q21 LTM 3Q21 2Q21 1Q21 4Q20 Digital IM net income (loss) $ 133,111 $ 46,065 $ 67,995 $ (9,143) $ 28,194 $ 65,423 $ 39,272 $ 15,786 $ 7,663 $ 2,702 Adjustments: Interest expense (income) 10,676 2,906 2,771 2,500 2,499 2,248 2,
Slide 26: Important Note Regarding Non-GAAP Financial Measures
26 IMPORTANT NOTE REGARDING NON-GAAP FINANCIAL MEASURES This presentation includes certain “non-GAAP” supplemental measures that are not defined by generally accepted accounting principles, or GAAP, including the financial metrics defined below, of which the calculations may from methodologies utili
Slide 27: DigitalBridge
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