Tikehau Capital Sca · EURONEXT:TKO
Tikehau Capital Sca — Tikehau Capital — Shareholder Meeting (April 2026)
94 slides from Tikehau Capital Sca's shareholder meeting presentation, Apr 30, 2026
Slide 1: Annual General Meeting 2026
ANNUAL GENERAL MEETING 2026 30 APRIL 2026
Slide 2: General Meeting Opening
1. GENERAL MEETING OPENING Xavier Musca Chairman of the Supervisory Board TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 2
Slide 3: Agenda
1. General meeting opening 2 1. General meeting opening 2 2. 2025 key figures 4 2. 2025 key figures 4 Agenda 3. Discipline and conviction 7 3. Discipline and conviction 7 4. Credit: trends and outlook 11 4. Credit: trends and outlook 11 5. Markets update 14 5. Markets update 14 6. Strategic executio
Slide 4: 2025 Key Figures
2. 2025 KEY FIGURES Mathieu Chabran Co-founder TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 4
Slide 5: Record levels of deployment, realizations and inflows in 2025
Record levels of deployment, realizations and inflows in 2025 Deployment Realizations Capital formation Larger and more global Acceleration in Private Equity 4th consecutive record year transactions and Credit in fundraising €7.6bn €4.0bn €10.5bn €8.0bn Deployed Realized of gross inflows of net infl
Slide 6: 2025 financials takeaways
2025 financials takeaways Solid growth in Solid portfolio revenues growth Asset Management profit generation excluding main currency effects +8% +18% +19% €136m Net result, Group share YoY growth in YoY growth YoY growth in realized Asset Management revenues Asset Management EBIT revenues +51% YoY i
Slide 7: Discipline and Conviction
3. DISCIPLINE AND CONVICTION Antoine Flamarion Co-founder TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 7
Slide 8: Our conviction-based thematic investments
Our conviction-based thematic investments LONG-LASTING EXPERTISE IN MID-MARKET FINANCING ACROSS ASSET CLASSES AND STRATEGIES CREDIT CAPITAL MARKETS TACTICAL REAL ASSETS PRIVATE EQUITY PRIVATE DEBT STRATEGIES STRATEGIES • Conviction-based management • Mid-market financing • Special and hybrid • Funda
Slide 9: Attractive portfolio metrics with embedded downside protection
Attractive portfolio metrics with embedded downside protection Conviction-based Granular Conservative use Low entry investment approach portfolios of leverage multiples Direct Lending(1) Private Equity(2) Real Estate(3) 100% +13% Covenanted investments LTM EBITDA growth >9,000 Units across Real Esta
Slide 10: Alignment of interests: a key differentiator
Alignment of interests: a key differentiator Unique alignment of interests powered by a robust equity base Management Management is the #1 shareholder owning 56% of the Group’s capital 53% of carried interest(1) retained by the firm Shareholders Dividend policy: distribute >80% of Asset Management E
Slide 11: Credit: Trends and Outlook
4. CREDIT: TRENDS AND OUTLOOK Cécile Mayer-Lévi Co-Head of Credit Head of Private Debt TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 11
Slide 12: Private Debt: three key themes shaping the current debate
Private Debt: three key themes shaping the current debate AI disruption Asset-liability mismatch in US Deployment pressure in a fast- Software / SaaS exposure as a semi-liquid funds growing market catalyst for credit risk repricing Redemption requests Investment discipline as the key differentiating
Slide 13: Tikehau Capital: a disciplined European pioneer in Credit
Tikehau Capital: a disciplined European pioneer in Credit AuM breakdown High-quality underlying assets Tactical Strategies Secondaries 8% ~12% 100% 5% Software Covenanted exposition(1) investments(3) Direct and €24.5bn Corporate Lending 47% CLO and Leveraged Credit AuM as of 31/12/25 4.1x 1.3% loans
Slide 14: Markets Update
5. MARKETS UPDATE Nina Majstorovic Investment Strategist, Capital Markets Strategies TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 14
Slide 15: Risk assets are gradually recouping their losses
Risk assets are gradually recouping their losses A MARKED RECOVERY IN EQUITY MARKETS A RISING CREDIT MARKET 102 125 +20.3% 120 IG US +1.3% 101 115 Nikkei Europe +0.5% 110 IG EUR HY US +0.4% Stoxx 600 +7.1% +4.8% +0.1% 105 100 +2.8% S&P 500 100 +1.2% Euro Stoxx 50 95 99 HY EUR Nasdaq 90 85 98 31-12 3
Slide 16: Concerns over inflation remain
Concerns over inflation remain OIL REMAINS CLOSE TO $100 PER BARREL THE MARKET IS ANTICIPATING HIGHER INFLATION 140 65 4 1-year US inflation swap 60 3.6% 120 3.5 111.2 55 3.5% 100 50 Oil (left) 3 43.6 45 80 2.5 40 1-year euro area inflation swap 60 35 2 30 40 Natural gas in Europe (right) 25 1.5 20
Slide 17: Strategic Execution and Value Creation
6. STRATEGIC EXECUTION AND VALUE CREATION Antoine Flamarion Co-founder TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 17
Slide 18: Since our IPO, we have executed the announced roadmap with discipline
Since our IPO, we have executed the announced roadmap with discipline 31 December 2016 31 December 2025 Scaling up AuM €9bn €53bn Internationalization of % of AuM from international client base investors ~20% 46% Democratization of % of AuM from private private markets investors 17% 34% Shareholders
Slide 19: Since our IPO, growth with clear improvement in economic profile
Since our IPO, we have combined growth with a clear improvement in our economic profile Asset Management revenues Asset Management profitability (€m) (€m) 380 150 Improved revenues quality Enhanced profitability 39 4 2016 2025 2016 2025 TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 19
Slide 20: Over one billion distributed since 2017
Over one billion distributed since 2017 A payout objective linked to Significant shareholder Asset Management profitability returns since IPO >80% Asset Management EBIT >€1bn distributed to shareholders distributed each year since 2017 TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 20
Slide 21: Continued globalization of our client base
Continued globalization of our client base Most represented nationalities in Increasing share of international clients 2025 third-party net new money(1) in our AuM (€bn) ~80% of 2025 third-party net new money Others 53 Italy 49 raised from international clients Israel US South Korea Japan UAE 2025 F
Slide 22: Democratization of private markets
Democratization of private markets 25% of 2025 third-party inflows raised 19% growth in AuM from private clients % of total AuM 30% 34% from private clients +19% 18 €1.5bn 15 of total commitments for Private Debt unit-linked products ~€445m €bn raised since inception in 2022 31 Dec 2024 31 Dec 2025
Slide 23: Our sustainability milestones
Our sustainability milestones €5bn ~40% Target set for climate of AuM covered by our net zero 1st sustainable bond and biodiversity AuM asset manager targets(1) commitment for €500m by 2025 2014-2015 2016-2017 2018- 2019 2020-2021 2022-2023 2024-2025 First carbon footprint assessment Signatory of 20
Slide 24: Outlook
7. OUTLOOK Mathieu Chabran Co-founder TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 24
Slide 25: 2026: an intermediary step towards future profitable growth
2026: an intermediary step in our journey towards future profitable growth AuM FRE Net result(1) Return on Equity(1) >€60bn €175-225m €420-520m 13-16% As of 31 December 2026 In 2026 In 2026 In 2026 Above market expectations(2) (1) Excluding currency effects. (2) “Market expectations” refers to avera
Slide 26: A new chapter focused on scalability and profitability
A new chapter focused on scalability and profitability 1 Cumulative net new money expected to exceed €34bn over 2026-2029 (+22% vs. €28bn raised 2022-2025) 2 Core FRE margin expected to reach between 45-50% by 2029 (vs. 41% in 2025) 3 Commitment to maintain Investment Grade rating 4 Commitment to di
Slide 27: Two distinct and synergistic growing engines offering optionality
Two distinct and synergistic growing engines offering optionality Asset Management Principal Investing From buildout Compounding effect and to harvesting velocity focus Significant embedded value Greater focus Acceleration in operating leverage Enhanced selectivity Higher PRE contribution More strat
Slide 28: Ongoing expansion of our Asset Management platform
Ongoing expansion of our Asset Management platform Expected benefits Cost control, simplification and greater efficiency Creation of a unified Asset Management division Stronger synergies across teams under Tikehau Investment Management Enhanced opportunities to establish industrial and equity partn
Slide 29: Presentation of the Financial Statements
8. PRESENTATION OF THE FINANCIAL STATEMENTS Henri Marcoux Group Deputy CEO TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 29
Slide 30: Acceleration in Asset Management profitability generation
Acceleration in Asset Management profitability generation 12% yoy increase in Core FRE(1) 18% yoy increase in AM EBIT Core FRE AM EBIT 39% 41% 36% 39% margin margin 148 150 132 +12% +18% 126 €m €m 2024 2025 2024 2025 (1) Core FRE correspond to Fee-Related Earnings excluding expenses linked to share-
Slide 31: +33% growth in portfolio revenues excluding currency effects
+33% growth in portfolio revenues excluding currency effects 166 207 Unrealized 5 revenues(2) 239 +19% growth compared to 2024 Realized revenues(1) 202 • €(52)m of currency effects in 2025 (vs. €43m in +33% Portfolio revenues growth €m 2024) excluding currency effects • Positive fair value changes o
Slide 32: Consolidated P&L
Consolidated P&L Management accounts (€m) 2024 2025 Management fees & other revenues 337.1 358.3 Core Fee-Related Earnings 132.0 14706 Fee-Related Earnings(1) 112.7 127.6 Asset Management EBIT 126.3 149.6 +18% AM profitability improvement year-over-year Investment portfolio revenues 207.1 165.8 Main
Slide 33: Consolidated balance sheet
Consolidated balance sheet Consolidated balance sheet (€bn) 5.4 5.4 €3.1bn €1.2bn 0.4 Other Other assets 0.9 liabilities Cash Shareholders’ Equity, Group share Short-term financial resources 0.2 & equivalents 1.9 Financial Debt Strong investment grade credit ratings Investment Shareholders’ portfoli
Slide 34: Proposed dividend
Proposed dividend 0.80 0.40 0.50 0.80 0.75 Linked to the strong value creation across the 0.70 Group’s business lines 0.60 0.50 0.50 0.50 Greater than the Group’s payout objective(1) 0.25 € 2017 2018 2019 2020 2021 2022 2023 2024 2025 Ordinary dividend Special dividend (1) More than 80% of Asset Man
Slide 35: Presentation of the Statutory Auditors
9. PRESENTATION OF THE STATUTORY AUDITORS REPORTS OF THE STATUTORY AUDITORS TO THE COMBINED GENERAL MEETING OF 30 APRIL 2026 Vincent Roty Gilles Magnan Partner at Ernst & Young et Partner at Forvis Mazars Autres TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 35
Slide 36: Reports of the Statutory Auditors
Reports of the Statutory Auditors Ordinary General Meeting – Report on the annual accounts – Report on the consolidated financial statements – Special report on regulated agreements – Report on the certification of sustainability information and verification of the disclosure requirements under Arti
Slide 37: Reports on the annual accounts and consolidated financial statements (1/2)
Reports on the annual accounts and consolidated financial statements (1/2) 1st resolution: annual financial statements of the Company Tikehau Capital – Section 7.2 of the 2025 Universal Registration Document. – We hereby certify that, pursuant to French accounting rules and principles, the annual fi
Slide 38: Reports on the annual accounts and consolidated financial statements (2/2)
Reports on the annual accounts and consolidated financial statements (2/2) 2nd resolution: consolidated financial statements of the Tikehau Capital Group – Section 6.2 of the 2025 Universal Registration Document. – We certify that the consolidated financial statements are, in accordance with IFRS as
Slide 39: Special reports of the statutory auditors on regulated agreements
Special reports of the statutory auditors on regulated agreements 4th resolution: review and authorization of agreements governed by Article L.226-10 of the French Commercial Code ▪ Section 3.5.4 of the 2025 Universal Registration Document. – AGREEMENTS SUBMITTED TO THE APPROVAL OF THE GENERAL MEETI
Slide 40: Report on certification of sustainability information
Report on the certification of sustainability information and verification of the disclosure requirements under Article 8 of Regulation (EU) 2020/852 – Section 4.2.4.6 of the 2025 Universal Registration Document. – On the basis of the procedures we have carried out, we have not identified any materi
Slide 41: Presentation of the Draft Resolutions
10. PRESENTATION OF THE DRAFT RESOLUTIONS Geoffroy Renard General Counsel TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 41
Slide 42: Presentation of the draft resolutions
Presentation of the draft resolutions RESOLUTIONS RELATED TO THE END OF THE FINANCIAL YEAR APPROVAL OF THE ANNUAL FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025 (1st resolution) APPROVAL OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025 (2nd r
Slide 43: Presentation of the draft resolutions
Presentation of the draft resolutions RESOLUTIONS RELATED TO TIKEHAU CAPITAL’S GOVERNANCE RATIFICATION OF THE CO-OPTING OF MR XAVIER MUSCA AS MEMBER OF THE SUPERVISORY BOARD (5th resolution) RENEWAL OF THE TERM OF OFFICE OF FOUR MEMBERS OF THE SUPERVISORY BOARD (6th to 9th resolutions) – Mr Xavier M
Slide 44: Presentation of the draft resolutions
Presentation of the draft resolutions RESOLUTIONS RELATED TO TIKEHAU CAPITAL’S GOVERNANCE APPROVAL OF THE COMPONENTS OF THE REMUNERATION POLICY APPLICABLE TO THE MANAGERS (11th resolution) – Fixed remuneration: amount unchanged of €1.265m per year and per Manager – Annual variable remuneration: ▪ Su
Slide 45: Presentation of the draft resolutions
Presentation of the draft resolutions RESOLUTIONS RELATED TO TIKEHAU CAPITAL’S GOVERNANCE APPROVAL OF THE COMPONENTS OF THE REMUNERATION POLICY APPLICABLE TO THE MANAGERS (11th resolution) Annual variable remuneration: Criteria Weighting Total Shareholder Return 40% Financial criteria (85%) Net new
Slide 46: Presentation of the draft resolutions
Presentation of the draft resolutions RESOLUTIONS RELATED TO TIKEHAU CAPITAL’S GOVERNANCE APPROVAL OF THE COMPONENTS OF THE REMUNERATION POLICY APPLICABLE TO THE MANAGERS (11th resolution) Multi-annual variable remuneration (LTI 2026-2029) : Criteria Weighting Total Shareholder Return (TSR) 35% Cumu
Slide 47: Presentation of the draft resolutions
Presentation of the draft resolutions RESOLUTIONS RELATED TO TIKEHAU CAPITAL’S GOVERNANCE OTHER RESOLUTIONS RELATING TO THE REMUNERATION OF TIKEHAU CAPITAL’S CORPORATE OFFICERS SUBMITTED IN ACCORDANCE WITH ARTICLES L.22-10-76 AND L.22-10-77 OF THE FRENCH COMMERCIAL CODE (‘SAY ON PAY’) (12th to 18th
Slide 48: Presentation of the draft resolutions
Presentation of the draft resolutions AUTHORISATION TO BE GIVEN TO THE MANAGERS TO MAKE TRANSACTIONS IN TIKEHAU CAPITAL SHARES (19th resolution) Employee Incentive Schemes (employee share offerings, free shares, stock options, etc.) Delivery of shares upon exercise of rights attached to securities g
Slide 49: Presentation of the draft resolutions
Presentation of the draft resolutions SUMMARY OF THE FINANCIAL DELEGATIONS TO BE SUBMITTED TO TIKEHAU CAPITAL’S AGM (20TH TO 23RD RESOLUTIONS) Maximum amount of Maximum amount of Purpose of the resolution issuance (as nominal or % of Duration debt instruments capital) for each resolution Issuance wi
Slide 50: Presentation of the draft resolutions
Presentation of the draft resolutions SUMMARY OF THE FINANCIAL DELEGATIONS TO BE SUBMITTED TO TIKEHAU CAPITAL’S AGM (24TH TO 29TH RESOLUTIONS) Maximum amount of issuance Maximum amount of debt Purpose of the resolution (as nominal or % of capital) for Duration instruments each resolution Issuance of
Slide 51: Presentation of the draft resolutions
Presentation of the draft resolutions SUMMARY OF CHANGES RELATED TO THE LOI ATTRACTIVITÉ Maximum amount of issuance unchanged compared to the financial delegations adopted by the 2024 AGM, with the exception of the delegation relating to contributions in kind (amounts have increased from €320m to €5
Slide 52: Presentation of the draft resolutions
Presentation of the draft resolutions AUTHORISATION TO BE GIVEN TO THE MANAGERS TO REDUCE THE SHARE CAPITAL BY CANCELLING TREASURY SHARES (30th resolution) Maximum number of shares that may be cancelled 10% of the share capital Duration 26 months TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 202
Slide 53: Presentation of the draft resolutions
Presentation of the draft resolutions AMENDMENT OF ARTICLE 11.1 OF THE ARTICLES OF ASSOCIATION – AMENDMENT TO THE RECORD DATE FOR SHARES (31st resolution) – Amendment of Article 11.1 of the Articles of Association, in order to incorporate therein the provisions of Decree No. 2026-94 of 13 February 2
Slide 54: Q&A Session
11. Q&A SESSION TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 54
Slide 55: Vote on the Resolutions
12. VOTE ON THE RESOLUTIONS TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 55
Slide 56: Vote on the resolutions
Vote on the resolutions FIRST RESOLUTION − Approval of the annual financial statements for the financial year ended 31 December 2025 TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 56
Slide 57: Vote on the resolutions
Vote on the resolutions SECOND RESOLUTION − Approval of the consolidated financial statements for the financial year ended 31 December 2025 TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 57
Slide 58: Vote on the resolutions
Vote on the resolutions THIRD RESOLUTION − Allocation of result for the financial year ended 31 December 2025 TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 58
Slide 59: Vote on the resolutions
Vote on the resolutions FOURTH RESOLUTION − Review and authorization of agreements governed by Article L.226-10 of the French Commercial Code TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 59
Slide 60: Vote on the resolutions
Vote on the resolutions FIFTH RESOLUTION − Ratification of the co-opting of Mr Xavier Musca as member of the Supervisory Board TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 60
Slide 61: Vote on the resolutions
Vote on the resolutions SIXTH RESOLUTION − Renewal of the term of office of Mr Xavier Musca as member of the Supervisory Board TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 61
Slide 62: Vote on the resolutions
Vote on the resolutions SEVENTH RESOLUTION − Renewal of the term of office of Mr Roger Caniard as member of the Supervisory Board TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 62
Slide 63: Vote on the resolutions
Vote on the resolutions EIGHTH RESOLUTION − Renewal of the term of office of Ms Fanny Picard as member of the Supervisory Board TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 63
Slide 64: Vote on the resolutions
Vote on the resolutions NINTH RESOLUTION − Renewal of the term of office of Ms Constance de Poncins as member of the Supervisory Board TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 64
Slide 65: Vote on the resolutions
Vote on the resolutions TENTH RESOLUTION − Appointment of Mr Jean-Pierre Denis as member of the Supervisory Board to replace Mr François Pauly TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 65
Slide 66: Vote on the resolutions
Vote on the resolutions ELEVENTH RESOLUTION − Approval of the components of the remuneration policy applicable to the Managers TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 66
Slide 67: Vote on the resolutions
Vote on the resolutions TWELFTH RESOLUTION − Approval of the amendment of the components of the remuneration policy applicable to the Supervisory Board for the 2025 financial year, for the period from 15 May to 31 December TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 67
Slide 68: Vote on the resolutions
Vote on the resolutions THIRTEENTH RESOLUTION − Approval of the components of the remuneration policy applicable to the Supervisory Board TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 68
Slide 69: Vote on the resolutions
Vote on the resolutions FOURTEENTH RESOLUTION − Approval of information referred to in Article L.22-10-9, I of the French Commercial Code and presented in the corporate governance report TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 69
Slide 70: Vote on the resolutions
Vote on the resolutions FIFTEENTH RESOLUTION − Approval of the components of remuneration paid to AF&Co Management, Manager, during the 2025 financial year or awarded in respect of the 2025 financial year TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 70
Slide 71: Vote on the resolutions
Vote on the resolutions SIXTEENTH RESOLUTION − Approval of the components of remuneration paid to MCH Management, Manager, during the 2025 financial year or awarded in respect of the 2025 financial year) TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 71
Slide 72: Vote on the resolutions
Vote on the resolutions SEVENTEENTH RESOLUTION − Approval of the components of remuneration paid to Mr Christian de Labriffe as Chairman of the Supervisory Board from 1 January to 15 May 2025, during the 2025 financial year or awarded in respect of the 2025 financial year TIKEHAU CAPITAL ANNUAL GENE
Slide 73: Vote on the resolutions
Vote on the resolutions EIGHTEENTH RESOLUTION − Approval of the components of remuneration paid to Mr Xavier Musca as Chairman of the Supervisory Board from 15 May 2025, during the 2025 financial year or awarded in respect of the 2025 financial year TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL
Slide 74: Vote on the resolutions
Vote on the resolutions NINETEENTH RESOLUTION − Authorisation to be given to the Managers to trade in the Company’s shares TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 74
Slide 75: Vote on the resolutions
Vote on the resolutions TWENTIETH RESOLUTION − Delegation of authority to be given to the Managers to decide to increase the share capital of the Company or of another company through the issue of shares and/or securities giving immediate or future access to the share capital, with preferential subs
Slide 76: Vote on the resolutions
Vote on the resolutions TWENTY-FIRST RESOLUTION − Delegation of authority to be given to the Managers to decide to increase the share capital of the Company or another company through the issue of shares and/or securities giving immediate or future access to the share capital, without preferential s
Slide 77: Vote on the resolutions
Vote on the resolutions TWENTY-SECOND RESOLUTION − Delegation of authority to be given to the Managers to decide to increase the share capital of the Company or another company through the issue of shares and/or securities giving immediate or future access to the share capital, without preferential
Slide 78: Vote on the resolutions
Vote on the resolutions TWENTY-THIRD RESOLUTION − Delegation of authority to be given to the Managers to decide to increase the share capital of the Company or another company through the issue of shares and/or securities giving immediate or future access to the share capital, without preferential s
Slide 79: Vote on the resolutions
Vote on the resolutions TWENTY-FOURTH RESOLUTION − Authorisation to be granted to the Managers to issue shares and/or securities giving immediate or future access to shares to be issued by the Company as compensation for contributions in kind consisting in equity securities or securities giving acce
Slide 80: Vote on the resolutions
Vote on the resolutions TWENTY-FIFTH RESOLUTION − Delegation of authority to be given to the Managers to decide to increase the share capital by incorporation of premiums, reserves, profits or any other amounts TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 80
Slide 81: Vote on the resolutions
Vote on the resolutions TWENTY-SIXTH RESOLUTION − Delegation of authority to be given to the Managers to increase the number of shares to be issued in the event of a share capital increase with or without preferential subscription rights TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 81
Slide 82: Vote on the resolutions
Vote on the resolutions TWENTY-SEVENTH RESOLUTION − Delegation of authority to be given to the Managers to decide to increase the share capital of the Company through the issue of shares and/or securities giving immediate or future access to the share capital, without preferential subscription right
Slide 83: Vote on the resolutions
Vote on the resolutions TWENTY-EIGHTH RESOLUTION − Delegation of authority to be given to the Managers to grant share subscription or purchase options to some or all of the group’s salaried employees and corporate officers TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 83
Slide 84: Vote on the resolutions
Vote on the resolutions TWENTY-NINTH RESOLUTION − Delegation of authority to be given to the Managers to grant existing free shares or shares to be issued to some or all of the group’s salaried employees and corporate officers TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 84
Slide 85: Vote on the resolutions
Vote on the resolutions THIRTIETH RESOLUTION − Authorisation to be given to the Managers to reduce the share capital by cancelling treasury shares TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 85
Slide 86: Vote on the resolutions
Vote on the resolutions THIRTY-FIRST RESOLUTION − Amendment of Article 11.1 of the Articles of Association TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 86
Slide 87: Vote on the resolutions
Vote on the resolutions THIRTY-SECOND RESOLUTION − Powers to carry out legal formalities TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 87
Slide 88: Appendix
13. APPENDIX TIKEHAU CAPITAL ASSEMBLÉE GÉNÉRALE ANNUELLE - 30 AVRIL 2026 88
Slide 89: Disciplined execution in Q1 2026
Disciplined execution in Q1 2026 Deployment Realizations Net new money €1.0bn in Q1 2026 €0.4bn in Q1 2026 €0.7bn in Q1 2026 (€6.9bn over the LTM) (€3.7bn over the LTM) (€7.0bn over the LTM) Private Equity Private Equity Private Equity 11% 11% 15% Real Assets 29% Real Assets Net new Real Assets Depl
Slide 90: Presentation of intermediate investment holdings
Presentation of intermediate investment holdings Since 2013, intermediate investment holdings have been established to support and accelerate the Group’s development and to perform investment-related services: ⎯ Contribution to accelerate the development of the Group’s Asset Management activities, b
Slide 91: Key alignments and differences between IFRS financial statements and Management Accounts
Key alignments and differences between the IFRS financial statements and the Management Accounts TIKEHAU CAPITAL ANNUAL GENERAL MEETING - 30 APRIL 2026 91
Slide 92: Impacts of the change in scope on the income statement
Impacts of the change in scope on the income statement Main impact linked to FX effects on investment portfolio ⎯ Management Accounts: 100% recognized amongst Other Comprehensive Income (balance sheet item) ⎯ IFRS accounts: 100% recognized within P&L through unrealized portfolio revenues TIKEHAU CAP
Slide 93: Impacts of the change in scope on consolidated balance sheet items
Impacts of the change in scope on the selection of consolidated balance sheet items on the 2025 and 2024 financial statements No change in Group shareholders’ equity ⎯ P&L impact on net result fully compensated through Other Comprehensive Income Limited impact on total assets and liabilities TIKEHAU
Slide 94: Slide 94