Slide 1: EQT AB Q3 Announcement 2023
EQT AB Q3 Announcement 2023 Webcast presentation 17 October 2023
Slide 2: Differentiation and diversification at work
Differentiation and diversification at work The webcast will begin shortly
Slide 3: Differentiation and diversification at work
Differentiation and diversification at work
Slide 4: Q3 2023 in brief
Q3 2023 in brief Differentiation and diversification at work Strategic Fundraising Deal activity (EURbn) Total AUM FAUM (EURbn) 128 Investments1 Q3 EUR 232bn 17 Of which 14 EUR 1bn 2 in BPEA for Launch of EQRT 3 Q3’23 92 15 12 Preparations for new strategies Q3 2022 Q3 2023 Q4 2021 - Q3 2022 Q4 20
Slide 5: EQT has created a diverse and global platform
EQT has created a diverse and global platform … Diversified across strategies Commitments by client geography FAUM ~1,200 €128bn clients Total AUM1 €232bn Middle East Real Estate Nordics Infrastructure Europe Private ~440 Capital Asia clients FAUM APAC €37bn Private Capital EU & NA Americas Q3 2019
Slide 6: Paced by strong performance, scaling of flagship funds and M&A
... paced by strong performance, scaling of flagship funds and M&A Private Equity Private Equity Infrastructure Real Estate Europe & North America Asia (BPEA) EQT Exeter3 ~40% ~60% ~40% 145% (EUR bn) (USD bn) (EUR bn) (USD bn) 10.5 4.9 4/4 15.6 19.8 15.7 key funds in 6.5 11.2 realization mode 10.9 9
Slide 7: With multiple opportunities to scale
With multiple opportunities to scale … FAUM at IPO… … current FAUM… … ongoing fundraises… … and scaling through four main avenues 1 Scaling of flagship funds 2 Scaling of recent strategies 3 New strategies 4 M&A 128 37 Q3’19 Q3’23 Ongoing fundraises Next 7
Slide 8: Future-proof our platform and performance
… and future-proof our platform and performance EUR +50bn1 Performance Clients People dry powder first & fundraising Repeatable sector playbooks Flagship Thematic Integrated global fundraising investments teams Capital markets Scale recent Global insights Thematic expertise Digital
Slide 9: Private Wealth is a long-term opportunity
Private Wealth is a long-term opportunity Global alternatives AUM - private wealth investors Reaching private wealth investors USD 13T Fundraising in our ~10 ~20 distribution banks distribution banks close-ended funds in EQT IX in EQT X • EQT Nexus progressing with additional Fundraising in our dist
Slide 10: Relative strength in fundraising despite market challenges
Relative strength in fundraising despite market challenges EQT X expected to close at or near its hard cap Ongoing fundraises Fundraising status FAUM Fundraising market EUR 73bn Private Capital EQT Future EQT X Global private markets fundraising volumes Private Capital in H1 2023 are down 35% vers
Slide 11: Investment activity continues at a measured pace, with selected realizations
Investment activity continues at a measured pace, with selected realizations Macro uncertainties prevail Investments1 (EURbn) Exits1 (EURbn) Q3 Q3 Investment levels2 Of which 22 EUR 1bn EQT X 17 in BPEA for 2 Of which 14 Q3’23 EUR 1bn 20-25% 2 in BPEA for 3 11 Q3’23 EQT Infrastructure VI 20 2 15-20%
Slide 12: Long-term development of EQT's shareholder base
Long-term development of EQT’s shareholder base The lock-up expiry is a contractual event Total lock-up September’23 expiry Now Other considerations 56% 7% ~100% of fund re-investment of EQT’s share expired in commitments capital subject to September 2023 completed¹ lock-ups 49% 2x of EQT’s share in
Slide 13: Fund valuations remain resilient
Fund valuations remain resilient Audited and reviewed externally twice a year EQT VII - EQT VIII - EQT IX - EQT X - Above plan Above plan On plan On plan 2.7x 2.6x 2.7x 2.7x 2.6x 2.3x 2.3x 2.3x 2.3x Private 2.2x Capital 1.4x 1.3x 1.4x 1.4x 1.4x EU & NA 1.0x 1.0x 1.0x 1.1x 1.1x Private Sep-22 Dec
Slide 14: Q3 FAUM development
Q3 FAUM development The EQT funds have a 10-year life cycle or longer Incl. BPEA FAUM EUR 22bn1 FAUM development Q3 2023 LTM FAUM development Q3 2023 14 1) Closing on 18 October 18 2022. FAUM as of closing FX
Slide 15: Driving scale and efficiencies
Driving scale and efficiencies Headcount remained largely flat over the last 9 months Number of FTE+ Majority of increase in Private Wealth Of which BPEA and Investment • Selective hiring primarily in North other M&A ~3101 1,790 1,832 teams America, and APAC Of which Exeter ~300 1,160 Central platfo
Slide 16: EQT has built a global and diverse platform
EQT has built a global and diverse platform, with multiple opportunities for continued scalable growth Investment activity continues at a measured pace, with a robust pipeline of investment opportunities Fund valuations remain resilient, underpinned by underlying operational performance in portfolio
Slide 17: Questions?
Questions?
Slide 18: A diversified platform to seize opportunities on a global scale
A diversified platform to seize opportunities on a global scale Private Capital Real Assets FAUM EUR 128bn Asia Europe North America Infrastructure Real Estate Total AUM1 EUR 17bn2 EUR 55bn EUR 33bn EUR 22bn3 EUR 232bn Emerging Ventures Companies & Assets Life Sciences Growth Private Equity Valu
Slide 19: Real estate fundraising facing headwinds
Real estate fundraising facing headwinds Ranking1 (USDbn) Fund size development Dec 2020 Q3 2023 Real EQT Exeter US EQT Exeter US Estate 2019 2023 Industrial Value Industrial Core-Plus FAUM2 4.9 (EUR) 8bn 22bn 3.0 40 10 2.0 1.3 $3bn $15bn (EUR) Since combination3 Fund V Fund VI Fund III Fund IV (202