Slide 1: Supplemental Financial Report Second Quarter 2022
DIGITAL SUPPLEMENTAL FINANCIAL REPORT Second Quarter 2022 August 4, 2022
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. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and
Slide 3: Important Note Regarding Non-GAAP Financial Measures
Important Note Regarding Non-GAAP Financial Measures This financial supplemental package includes certain non-GAAP financial measures and operating metrics that are not defined by generally accepted accounting principles, or GAAP. Following our decision not to maintain qualification as a REIT for 20
Slide 4: Note Regarding DBRG Reportable Segments / Consolidated and OP Share of Consolidated Amounts
Note Regarding DBRG Reportable Segments / Consolidated and OP Share of Consolidated Amounts This presentation includes supplemental financial information for the following segments: Digital Investment Management (Digital IM) This business represents a leading global digital infrastructure investment
Slide 5: Table of Contents
Table of Contents Page I. Financial Overview a. Summary Financial Metrics 6 II. Financial Results a. Balance Sheet Consolidated & Noncontrolling Interests’ Share 7 b. Consolidated Segment Operating Results 8 c. Noncontrolling Interests’ Share Segment Operating Results 9 d. Segment Reconciliation of
Slide 6: Ia. Summary Financial Metrics
Ia. Summary Financial Metrics ($ and shares in thousands, except per share data and as noted) (Unaudited) 6/30/2022 - 3/31/2022 - 12/31/2021 - 9/30/2021 - 6/30/2021 - 3/31/2021 - 12/31/2020 - 9/30/2020- 2Q22 1Q22 4Q21 3Q21 2Q21 1Q21 4Q20 3Q20 Financial Data Net income (loss) attributable to common s
Slide 7: IIa. Financial Results - Balance Sheet
IIa. Financial Results - Balance Sheet ($ in thousands, except per share data) (unaudited) As of June 30, 2022 Noncontrolling Consolidated Interests' Share Assets Cash and cash equivalents $ 337,150 $ 175,818 Restricted cash 108,686 83,851 Real estate, net 6,047,928 4,878,537 Loans receivable 514,16
Slide 8: IIb. Financial Results - Consolidated Segment Operating Results
IIb. Financial Results - Consolidated Segment Operating Results Three Months Ended June 30, 2022 Digital Investment Corporate and Discontinued ($ in thousands) (unaudited) Management Digital Operating Other Operations Total Revenues Property operating income $ — $ 227,646 $ 6,605 $ — $ 234,251 Inter
Slide 9: IIc. Financial Results - Noncontrolling Interests' Share Segment Operating Results
IIc. Financial Results - Noncontrolling Interests’ Share Segment Operating Results Three Months Ended June 30, 2022 Digital Investment Corporate and Discontinued ($ in thousands) (unaudited) Management Digital Operating Other Operations Total Revenues Property operating income $ — $ 186,828 $ 2,871
Slide 10: IId. Segment Reconciliation of Net Income to DE and Adjusted EBITDA
IId. Financial Results - Segment Reconciliation of Net Income to DE and Adjusted EBITDA Amounts OP pro rata share by segment attributable to DBRG Digital Corporate Discontinued Total OP pro noncontrolling consolidated ($ in thousands; for the three months ended June 30, 2022; and unaudited) Digital
Slide 11: IId. Segment Reconciliation of Net Income to DE and Adjusted EBITDA
IId. Financial Results - Segment Reconciliation of Net Income to DE and Adjusted EBITDA OP pro rata share by segment Digital Corporate and Discontinued Total OP pro ($ in thousands; for the three months ended June 30, 2022; and unaudited) Digital IM Operating Other Operations rata share After-tax DE
Slide 12: IIIa. Capitalization - Debt Summary
IIIa. Capitalization - Debt Summary ($ in thousands; as of June 30, 2022) Consolidated debt Payments due by period(1) 2022 2023 2024 2025 2026 and after Total Investment-level debt: Digital Operating - Fixed $ 3,116 $ 219,792 $ 600,753 $ 700,000 $ 2,119,690 $ 3,643,351 Digital Operating - Variable 9
Slide 13: IIIb. Capitalization - DBRG Series 2021-1
IIIb. Capitalization - DBRG Series 2021-1 ($ in thousands, as of June 30, 2022) Class A-2 Term Notes Amount outstanding $ 300,000 Interest rate 3.933 % Anticipated Repayment Date (ARD) September 25, 2026 Kroll Rating BBB Class A-1 Variable Funding Notes Maximum Available $ 300,000 (1) Amount outstan
Slide 14: IIIc. Convertible/Exchangeable Notes & Perpetual Preferred Stock
IIIc. Capitalization - Convertible/Exchangeable Notes & Perpetual Preferred Stock ($ in thousands; except per share data; as of June 30, 2022) Convertible/exchangeable debt Conversion price (per share Outstanding of common Conversion Conversion Description principal Final due date(1) Interest rate s
Slide 15: IIId. Capitalization - Organization Structure
IIId. Capitalization - Organization Structure DigitalBridge | Supplemental Financial Report 15
Slide 16: IV. Assets Under Management
IV. Assets Under Management ($ in millions) DBRG OP Share Segment 6/30/22 3/31/22 12/31/21 9/30/21 6/30/21 3/31/21 12/31/20 9/30/20 Digital Investment Management $ 45,296 $ 44,517 $ 43,619 $ 36,337 $ 33,551 $ 30,711 $ 28,577 $ 22,237 Digital Operating 1,466 1,460 1,233 1,157 1,093 1,073 1,087 724 (1
Slide 17: V. Digital Investment Management
V. Digital Investment Management ($ in millions) AUM DBRG OP Share 6/30/22 3/31/22 12/31/21 9/30/21 6/30/21 3/31/21 12/31/20 9/30/20 DigitalBridge Partners I $ 5,988 $ 5,766 $ 6,180 $ 6,180 $ 6,003 $ 5,931 $ 6,089 $ 5,686 DigitalBridge Partners II 10,739 10,687 10,430 8,005 6,431 4,775 3,241 — Separ
Slide 18: VI. Digital Operating
VI. Digital Operating ($ in millions, unless otherwise noted) Portfolio Overview 6/30/22 3/31/22 12/31/21 9/30/21 6/30/21 3/31/21 12/31/20 9/30/20 Consolidated amount Asset(1) $ 8,429 $ 8,397 $ 7,624 $ 7,211 $ 6,736 $ 6,633 $ 6,248 $ 4,925 Debt(2)(3) (4,477) (4,479) (4,217) (3,817) (3,374) (3,369) (
Slide 19: VI. Digital Operating
VI. Digital Operating ($ in thousands) Digital Operating Adjusted EBITDA 2Q22 1Q22 4Q21 3Q21 2Q21 1Q21 4Q20 3Q20 Consolidated amount Total revenues $ 227,687 $ 202,522 $ 189,938 $ 194,966 $ 189,093 $ 189,202 $ 127,546 $ 98,549 Property operating expenses (94,744) (84,003) (78,950) (80,226) (77,140)
Slide 20: VI. Digital Operating
VI. Digital Operating ($ in thousands) Capital Expenditures Consolidated amount 2Q22 1Q22 4Q21 3Q21 2Q21 1Q21 4Q20 3Q20 Non-revenue enhancing capital expenditures $ 13,377 $ 7,418 $ 6,410 $ 7,387 $ 4,423 $ 1,220 $ 1,416 $ 1,551 Revenue enhancing capital expenditures 101,100 84,668 94,018 42,841 40,4
Slide 21: VII. Other
VII. Other ($ in thousands) Consolidated amount 2Q22 1Q22 4Q21 3Q21 2Q21 1Q21 4Q20 3Q20 DBRG's GP Co-investment in DBP I and II Investments $ 284,282 $ 248,663 $ 242,856 $ 230,972 $ 225,411 $ 173,831 $ 171,204 $ 184,829 Equity interests in digital investment vehicles, warehouse / seed investments an
Slide 22: VIII. Cash G&A Expense
VIII. Cash G&A Expense ($ in thousands) 2Q22 1Q22 4Q21 3Q21 2Q21 1Q21 4Q20 3Q20 Digital Investment Management Cash G&A Cash and equity-based compensation $ 23,230 $ 24,808 $ 20,802 $ 21,606 $ 16,262 $ 12,385 $ 19,007 $ 9,603 Administrative expenses 4,869 4,171 4,387 5,820 9,345 2,131 3,511 1,847 Com
Slide 23: Appendices
Appendices DigitalBridge | Supplemental Financial Report 23
Slide 24: Reconciliations of Digital IM FRE and Digital Operating Adjusted EBITDA to Net Income (Loss)
Reconciliations of Digital IM FRE and Digital Operating Adjusted EBITDA to Net Income (Loss) ($ in thousands) 2Q22 1Q22 4Q21 3Q21 2Q21 1Q21 4Q20 3Q20 Digital IM net income (loss) 67,995 (9,143) 28,194 39,272 15,786 7,663 2,702 3,799 Adjustments: Interest expense (income) 2,771 2,500 2,499 2,250 — (1
Slide 25: Reconciliations of DE and Adjusted EBITDA to Net Income (Loss)
Reconciliations of DE and Adjusted EBITDA to Net Income (Loss) ($ in thousands) 2Q22 1Q22 4Q21 3Q21 2Q21 1Q21 4Q20 3Q20 Net income (loss) attributable to common stockholders $ (37,321) $ (262,316) $ (20,686) $ 41,036 $ (141,260) $ (264,806) $ (140,575) $ (205,784) Net income (loss) attributable to n
Slide 26: Reconciliations of DE and Adjusted EBITDA to Net Income (Loss)
Reconciliations of DE and Adjusted EBITDA to Net Income (Loss) ($ in thousands) 2Q22 1Q22 4Q21 3Q21 2Q21 1Q21 4Q20 3Q20 After-tax DE $ 7,585 $ 1,569 $ (5,352) $ 700 $ (5,578) $ (10,213) $ (25,373) $ (31,010) Interest expense included in DE 14,142 13,280 13,775 14,160 11,834 12,387 11,972 12,234 Inco
Slide 27: Definitions
Definitions Assets Under Management (“AUM”) Assets owned by the Company’s balance sheet and assets for which the Company and its affiliates provide investment management services, including assets for which the Company may or may not charge management fees and/or performance allocations. Balance she