Q3 Trading Statement for the period to 31 December 2025

Core Insights - ICG plc reported a total AUM of $127 billion as of 31 December 2025, with fee-earning AUM at $85 billion, reflecting a 1% increase quarter-on-quarter and an 11% increase year-on-year [6][11] - The company raised $4.4 billion in fundraising during the quarter, with significant contributions from Europe IX ($1.6 billion), Metropolitan II ($0.6 billion), and LP Secondaries II ($0.3 billion) [6][5] - The total available liquidity for ICG is £1.4 billion, with net financial debt reduced to £239 million [6] Fundraising and Deployment - Fundraising activities for Q3 FY26 included $2.5 billion in Structured Capital and Secondaries, $0.6 billion in Real Assets, and $1.3 billion in Debt [5][7] - Deployment of funds in Q3 FY26 amounted to $2.8 billion for Structured Capital and Secondaries, $0.6 billion for Real Assets, and $1.6 billion for Debt [5][7] - Realisations during the same period were $0.1 billion for Structured Capital and Secondaries, $0.2 billion for Real Assets, and $1.7 billion for Debt [5][7] Financial Performance - The company experienced a net addition of $1.328 billion in AUM, with structured capital and secondaries contributing $1.538 billion, while real assets and debt saw net reductions [3] - Year-on-year changes in AUM showed a 22% increase in Structured Capital, a 17% increase in Secondaries, a 3% decrease in Real Assets, and an 11% overall increase [3] - The total balance sheet return was positive at both the group level for the quarter and year-to-date [6] Market Conditions - The company noted variability in transaction activity across different asset classes, indicating a modest recovery in market conditions [6] - The foreign exchange rates for GBP to EUR and GBP to USD showed slight fluctuations, which may impact financial results [8]