Slide 1: Interim results for six months to 30 September 2021
iCG Interim results For six months to 30 September 2021 16 NOVEMBER 2021
Slide 2: H1 key themes and messages
iCG H1 key themes and messages Business performance Benoit Durteste Benoit Darke: Financial results Looking ahead Q&A Vijay Bharadia CFOO PRIVATE AND CONFIDENTIAL 2
Slide 3: Business performance
iCG Business performance
Slide 4: H1 FY22 review: key themes and messages
H1 FY22 review: key themes and messages icG all Broad-based momentum continuing across established and emerging strategies “gS Strong growth in client base $= Delivered against strategic and financial objectives, building on historical track-record Ww) Sustainability and people integral to future gr
Slide 5: H1 FY22 review: financial snapshot
H] FY22 review: financial snapshot icG PLATFORM FUND ACTIVITY Deployment ($bn)? Realisations ($bn)? 8.4 35 d hird Future Fundraising Third-party growt ‘AUM 24 1.0 $13.8bm $65bn £116m +16%2 Seed investments for new strategies H1'21 H1'22 H1'21 H1'22 FINANCIAL PERFORMANCE Third-party fee income (£m) F
Slide 6: H1 FY22 review: sustainability and people
H1 FY22 review: sustainability and people GROUP ey Climate change nie P Net zero by 2040 across our operations and relevant investments! SBTi-approved 2030 target to reduce Scope 1 and 2 emissions by 80% eople and culture Employees? 8% Employee engagement re D&l-focussed internship 470 and insight p
Slide 7: Our growth strategy is delivering
Our growth strategy is delivering GROW “UP” Ho’ ‘e gro Ts, Ww we grow Q Examples in the period Raising larger vintages of existing strategies Europe Corporate! €5.7bn +128% +42% Still raising i i i €4.0bn & Financial drivers €2.Sbn Vi vil Vill 2015 2018 2021 aot NN CTT TTT =--\. Enhanced ESG engagem
Slide 8: Record fundraising: more raised in H1 FY22 than in any financial year in our history
Record fundraising: more raised in H1 FY22 than in icG any financial year in our history FUNDRAISING ni 1 Weighted-average H 1 contractual life of ~I2 years! '>* $13.8br? ‘ FY. FY: tee _ 300 os ey ' : : : " $0.8bn ' Hl Hl oo ' i ' : $1.9bn H ' LOH eae | $6.7bn | | $6.9bn | ! : H1: : » $5.1bn ; ‘ 1 \
Slide 9: Significant levels of deployment and realisation
Significant levels of deployment and realisation iCG support future fundraising programs DEPLOYMENT!" $8.4bn FY17 FY18 FY19 FY20 FY21 H1!22 mStructured and Private Equity m™PrivateDebt Real Assets SELECTED TRANSACTIONS? 6POINT6 <SJEY = ames @© BROADSTONE a IRON MOUNTAIN® REALISATIONS? FY: fy Sven $3
Slide 10: Consistently growing AUM
Consistently growing AUM THIRD-PARTY AUM srapn $136" $15bn $17bn n @ Structured and Private Equity ™ Private Debt Real Assets = Credit ' Compared to 31 March 2021;? Total may not sum due to rounding iCG $65bn +16%! Third- party AUM $56bn +19%! Third-party fee - earning AUM PRIVATE AND CONFIDENTIAL
Slide 11: Growing and diversified client franchise
Growing and diversified client franchise iCG NUMBER OF CLIENTS 542 396 331 : I FY17 FY18 FY19 FY20 FY21 H1FY22 DIVERSIFIED! LOW CONCENTRATION! oe 1% ; . | < » 6 20% 31% 23% 26% MEMEA (excl. UK and Ireland) ™Asia Pacific Americas = UK and Ireland F a 42% 14% 1% 7% Insurance companies ™ Pension funds
Slide 12: Broad-based pipeline of future fundraising
Broad-based pipeline of future fundraising VISIBILITY ON FUNDRAISING PIPELINE FOR REMAINDER OF FY22 Structured Real Assets and Private Equity Grow established Europe Fund VIII Real Estate CLOs strategies SDP V Partnership (ongoing) Strategic Equity IV Capital VI . Infrastructure Develop emerging Equ
Slide 13: Financial results
iCG Financial results
Slide 14: Continued growth in third-party fee income
Continued growth in third-party fee income icG THIRD-PARTY FEE INCOME < 4m Performance fees of 1 £18.5mrepresented ' 9.3% of third-party 1 feeincome ” H1 £154m £139m £136m £27m, +59%! H1: £105m £26m, +2%! H1 Hi: £78m £63m £1TIm, +36%! FYI7 FY18 FY19 FY20 FY21 H1'22 m Structured and Private equity m
Slide 15: Fundraising and deployment build future management fee visibility
Fundraising and deployment build future icG management fee visibility ILLUSTRATIVE ANNUALISED MANAGEMENT FEE POTENTIAL From additions to From AUM raised n — AUM in H1FY22 previous periods and — Total not yet paying fees ~£50m ~£168m ~£63m not reflected in ~£118m this period’s P&L ~£105m (partially)
Slide 16: Third-party fee income driving growth in PBT
Third-party fee income driving growth in PBT icG FMC PBT £95m Hi: ey £85m £50m €74m H1: £64m H1: H1: £44m £34m FY17 FY18 FY19 FY20 FY21 Third-party fee Other income Expenses H1FY22 income Policy of paying 80 - 100% of FMC full-year post-tax profits in dividends to shareholders PRIVATE AND CONFIDENTI
Slide 17: Growing operating margin while investing for future growth
oe . . ye . iCG Growing operating margin while investing for future growth FMC OPERATING EXPENSES GROUP PERMANENT HEADCOUNT CAGR: H1’21 H1?22 508 OT ave 470 408 Employee costs £64m £82m 336 281 297 Depreciation and amortisation £3m £4m Other operating expenses £19m £25m Total operating expenses £86m
Slide 18: Balance sheet supporting growth
Balance sheet supporting growth iCG INVESTS ALONGSIDE OUR FUNDS AND SEEDS NEW STRATEGIES 5% 18% " ™ Structured and Private Equity ™ Private Debt 1% £2.7B N! m Real Assets GROWING NAV PER SHARE 60% = Credit % 6 ™ Warehoused investments NET INVESTMENT RETURNS! £254m £238m FY17 - FY21 annual average H1
Slide 19: Medium-term guidance maintained
Medium-term guidance maintained FUNDRAISING * $40bn in aggregate over next four years * Atleast $7bn every year H1 ‘22 outturn PERFORMANCE FEES * 10 - 15% of total third-party fees FMC OPERATING MARGIN * Above 50% NET INVESTMENT RETURNS * Low double-digit percentage points iCG NET GEARING * No highe
Slide 20: Looking ahead
iCG Looking ahead
Slide 21: Building a scalable waterfront of products
Dg: iCG Building a scalable waterfront of products GROW “UP” GROW “OUT” Raising larger vintages of existing strategies Bringing new strategies to market +$10bn! 5 4 D th Numbé if Numb if wring the Nunber aber $100bn+ strategies? Organic path to tiple drivers of high quality compounding growth ‘Third
Slide 22: Q&A
Q&A PRIVATE AND CONFIDENTIAL
Slide 23: Disclaimer
a . iCG Disclaimer The materials being provided to you are intended only for informational purposes and convenient reference and may not be relied upon for any purpose. This information is not intended to provide, and should not be relied upon, for accounting, legal, tax advice or investment recomme