Slide 1: DigitalBridge Corporate Overview March 2025
DIGITALBRIDGE CORPORATE OVERVIEW M arc h 2025 1
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS 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)
Slide 3: Important Note Regarding Non-GAAP Financial Measures
IMPORTANT NOTE REGARDING NON -GAAP FINANCIAL MEASURES This presentation contains the following non-GAAP financial measures attributable to the Operating Company: Fee Related Earnings (“FRE”) and Distributable Earnings (“DE”). FRE and DE are common metrics utilized in the investment management sector
Slide 4: Table of Contents
TABLE OF CONTENTS 1 SECTION OVERVIEW An Alternative Asset Manager Levered to INTRODUCTION Secular Growth in The Digital Economy STRATEGY & A Platform Built to Capitalize on PROFILE Opportunities Across Digital Infrastructure INVESTMENT AI-Powered Digital Simple, Secular Infrastructure High-Growth TH
Slide 5: DigitalBridge is a leading global alternative asset manager
DigitalBridge is a leading global alternative asset manager dedicated to investing in digital infrastructure. As an Infrastructure Partner to the Digital Economy, we manage capital on behalf of institutional investors across five key verticals: data centers, cell towers, fiber networks, small cells,
Slide 6: A Leading Global Digital Infrastructure Asset Manager
A LEADING GLOBAL DIGITAL INFRASTRUCTURE ASSET MANAGER $96B Portfolio AUM1 $36B Portfolio FEEUM 40+ Data Centers Portfolio Companies2 INVESTING Hyper- Edge ACROSS Infrastructure Converged Digital Cell Towers THE DIGITAL Infrastructure ECOSYSTEM 25+ Small Cell s Fiber Networks Years of Experience Sect
Slide 7: Infrastructure Partner to the Digital Economy
INFRASTRUCTURE PARTNER TO THE DIGITAL ECONOMY The DBRG roadmap is designed to give us the global scale that drives efficiency, growth, and presence where customers need it Top 3 Top 4 Data Center Provider Independent Global in the World(2) Tower Portfolio(3) Global Tower Total Owned and 7 Global Dat
Slide 8: Why Digital Infrastructure?
WHY DIGITAL INFRASTRUCTURE? ‘Pick & Shovel’ exposure to powerful AI and Cloud thematics Mission-critical, essential infrastructure Mobile-First engagement across consumers and enterprises Resilient, defensible and uncorrelated asset class D i g i t a l I n f r a s t r u c t u r e DALL·E 3 Sora Attra
Slide 9: Strategy & Profile
1 OVERVIEW STRATEGY & PROFILE 9
Slide 10: A Leading Global Digital Infrastructure Asset Manager
A LEADING GLOBAL DIGITAL INFRASTRUCTURE ASSET MANAGER An Alternative Asset Manager Focused on Digital Our Platform DigitalBridge is a leading alternative asset manager levered to the powerful tailwinds driving global investment in digital Positioned to deliver long-duration investment solutions acro
Slide 11: DBRG Roadmap – Primed to Generate Long-Term Shareholder Value
DBRG ROADMAP – PRIMED TO GENERATE LONG-TERM SHAREHOLDER VALUE BY SCALING OUR LEADING DIGITAL INFRA PLATFORM 1 DBRG TRANSFORMATION 2 SCALING THE PLATFORM COMPLETE With our transformation complete, the Business Strategy is focused on building momentum within the DigitalBridge flywheel, scaling our pla
Slide 12: An Alternative Way to Invest in Digital Infrastructure
AN ALTERNATIVE AN ALTERNATIVE WAY IN WAY TO INVEST TODIGITAL INVEST IN DIGITAL INFRASTRUCTURE INFRASTRUCTURE Highly-scalable alternative EXPECTED FINANCIAL IMPACT: asset management business Platform with lower capital ASSET-LIGHT model capitalizes on DBRG intensity has structurally higher and improv
Slide 13: Fee Earning Equity Under Management Growth Profile
FEE EARNING EQUITY UNDER +29% $32.8B $35.5B Core, Credit, MANAGEMENT Liquid FEEUM CAGR 20’ - 24’ InfraBridge GROWTH $22.2B PROFILE IM FEEUM (AS REPORTED) Co-invest $18.3B Long-term contracted $12.8B fee streams provide DBP Series predictable revenue and earnings that we expect to grow over time SCV
Slide 14: Investment Solutions Across the Digital Infra Ecosystem
INVESTMENT SOLUTIONS ACROSS THE DIGITAL INFRA ECOSYSTEM Expanding our capabilities to match capital with the right Strategy Overview risk-adjusted opportunity across the digital ecosystem Our Core equity strategy is centered around investing in stabilized, high- Core quality digital infrastructure p
Slide 15: Investment Thesis
1 OVERVIEW INVESTMENT THESIS 15
Slide 16: The DBRG Investment Case
THE DBRG INVESTMENT CASE The Demand – More, Better, Faster compute and connectivity is driving significant global digital AI-POWERED infrastructure investment and DBRG is well positioned with exposure to powerful thematics including SECULAR TAILWINDS AI, Cloud, 5G, and IoT. At the Intersection of Su
Slide 17: The Demand: More, Better, Faster Connectivity & Compute
THE DEMAND: MORE, BETTER, FASTER CONNECTIVITY & COMPUTE DEMAND DRIVERS FUEL DATA TRAFFIC'S EXPONENTIAL GROWTH MORE COMPUTE AND PIPES REQUIRED Digital Infra Ensures Secure, Scalable, and Reliable Compute Power Data Centers Will Need Far More Power Global Mobile Network Data Traffic AI workloads are c
Slide 18: The Supply: DigitalBridge Is a Partner of Choice
THE SUPPLY: DIGITALBRIDGE IS A PARTNER OF CHOICE ALTERNATIVES CONTINUE TO EXHIBIT STEADY GROWTH… ...WE ARE GROWING FASTER AND TAKING SHARE Global Alternatives AUM $25T FEEUM 14% 39% $33B $36B FEEUM CAGR* CAGR $22B $16T $18B Institutional $13B investors $7T projected to $7B continue to Wallet Share O
Slide 19: The Digital Infrastructure Specialists
THE DIGITAL INFRASTRUCTURE SPECIALISTS The DigitalBridge team has a 25+ year track record of successfully building businesses in the digital infrastructure sector. Our specialization creates durable competitive advantages that seek to generate alpha for our portfolio companies and investors. OPERATI
Slide 20: Power of the Platform: Follow the Logos
POWER OF THE TODAY DBRG IS BUILDING THE AI REVOLUTION PLATFORM $18 billion budgeted portfolio-level capex in 2025, DBRG leads in global mission- “FOLLOW THE LOGOS” critical investment. Building for the Future Data Centers Dominate Capex: DigitalBridge’s flexible capital allocation strategy is built
Slide 21: Financials
2 FINANCIALS 21
Slide 22: Non-GAAP Financial Results
NON-GAAP FINANCIAL RESULTS ($ in millions) 4Q23 4Q24 % Change YOY 2023 2024 % Change YOY Fee Revenue $74.4 $101.6 +37 % $267.1 $329.8 +23 % Cash Compensation ($31.2) ($45.0) +44 % ($126.0) ($151.3) +20 % Administrative and Other Expenses ($16.8) ($21.2) +27 % ($59.3) ($71.4) +20 % Fee Related Earnin
Slide 23: Long-Term Fee Revenue & FRE Target
F I N A N C I A L S LONG-TERM FEE REVENUE & FRE TARGET As our business grows, we expect our margins to continue to expand…driven by maturation of subscale strategies and operating scale efficiencies $600M Fee Revenue ($M) FRE ($M) $500M % FRE Margin $330M Target Mid-40%’s FRE Margin % 32% 20%+ $107M
Slide 24: Balance Sheet Profile
BALANCE SHEET PROFILE Key Corporate Assets Key Corporate Liabilities Blended Avg. Cost (Per ($ in millions) 12/31/2024 ($ in millions) 12/31/2024 Annum) GP Affiliated Investments(1) Corporate Debt DBP Series $364 Securitized Notes $300 3.9 % DataBank and Vantage SDC * 677 Revolver (VFN; $300M Availa
Slide 25: Guidance - Continued Growth and Expanding Margins
GUIDANCE - CONTINUED GROWTH AND EXPANDING MARGINS In 2024, DigitalBridge aligned its guidance practices with its alternative asset manager peer set, focusing on growth and profitability over a 5-year cycle. DigitalBridge is supplementing this guidance for 2025 on selected key metrics to facilitate i
Slide 26: DigitalBridge Corporate Capital Allocation Priorities
DIGITALBRIDGE CORPORATE CAPITAL ALLOCATION PRIORITIES As DBRG executes on a near/medium term focus on strategic M&A and capital structure optimization, we expect additional free cash flow will become available to invest and compound capital alongside LPs in our fund vehicles CAPITAL ALLOCATION FRAME
Slide 27: Appendix
DIGITALBRIDGE APPENDIX 3
Slide 28: Distributable Earnings & Fee Related Earnings
DISTRIBUTABLE EARNINGS & FEE RELATED EARNINGS 202 4 202 3 ($ in thousands) 4Q 24 3Q 24 2Q 24 1Q 24 4Q 23 3Q 23 2Q 23 1Q 23 Net income (loss) attributable to common stockholders $ (19,711) $ (883) $ 76,763 $ (44,288) $ 100,607 $ 261,828 $ (22,411) $ (212,473) Net income (loss) attributable to noncont