February 7, 2023 KKR & Co. Inc. Overview Presentation – 4Q'25 March 2026 Legal Disclosures This presentation has been prepared by KKR & Co. Inc. solely for informational purposes for its public stockholders in connection with evaluating the business, operations and financial results of KKR & Co. Inc. and its subsidiaries (collectively, "KKR"), which includes The Global Atlantic Financial Group LLC and its subsidiaries (collectively, "Global Atlantic" or "GA"), unless the context requires otherwise. This pre ...

Core Insights - Hamilton Lane's annual Market Overview indicates a transformative period for global investment, emphasizing the need for investors to prioritize manager selection, resilience, and adaptability over certainty [1] Group 1: AI and Investment Landscape - AI is identified as the most significant factor influencing returns and investment activity, with public markets heavily concentrated in AI-linked companies, particularly large language models (LLMs) [2] - Private markets, especially venture capital, are positioned to offer broader exposure compared to public markets [2] Group 2: Secondary Markets - The secondary market is characterized by strong dynamics, with both GP and LP-led markets remaining robust due to a slow exit environment and LPs seeking to rebalance portfolios [3] - Supply in the secondary market is outpacing capital, leading to attractive entry pricing and enhanced portfolio flexibility for investors [3] Group 3: Private Credit - Hamilton Lane asserts that there is no private credit bubble, as the market has shown resilience and limited stress, outperforming public benchmarks for 24 consecutive years [4] - Private credit is expected to maintain its resilience across economic cycles, outperforming broadly syndicated or bank-held loans [4] Group 4: Performance Metrics - The report highlights that private equity performance has lagged due to strong public equity performance, raising questions about the sustainability of the leading public stocks [6][7] - Private equity and secondary-focused evergreen funds have outperformed closed-end fund peers over one- and three-year periods, countering the narrative of sacrificing returns for liquidity [7] - 2025 saw the second highest year for aggregate distributions, although private equity and real assets experienced subdued distribution activity [7] - Valuation multiples for unrealized deals from the 2021-2022 cohort have increased, but overall valuations remain aligned with fundamentals [7] Group 5: Market Dynamics - The report emphasizes the critical moment for global investing, influenced by geopolitical fragmentation, tariff tensions, and rapid technological disruption, particularly from AI [8] - Investment success will hinge on adapting to new vehicles, liquidity models, and evolving market dynamics [8]

Core Insights - Calamos Investments is a diversified global investment firm offering a range of innovative investment strategies [1] - The firm provides investment strategies through various vehicles including separately managed portfolios, mutual funds, closed-end funds, private funds, an exchange traded fund, and UCITS funds [1] - Clients of Calamos Investments include major corporations, pension funds, endowments, foundations, individuals, and financial advisors [1] - The firm is headquartered in the Chicago metropolitan area and has additional offices in London, New York, and San Francisco [1]

Core Viewpoint - Invesco is an independent investment management firm focused on enhancing the investment experience for individuals [1] Group 1 - Invesco emphasizes the importance of understanding investment objectives, risks, charges, and expenses before making investment decisions [1] - The firm provides educational information but does not offer specific investment recommendations or tax advice [1] - Invesco's opinions are based on current market conditions and may change without notice, indicating a dynamic approach to investment management [1] Group 2 - Invesco Distributors, Inc. serves as the US distributor for Invesco Ltd.'s retail products and collective trust funds [1] - The company operates through various affiliated investment advisers that provide advisory services without selling securities [1] - Invesco Unit Investment Trusts are distributed by Invesco Capital Markets, Inc. and other broker-dealers, highlighting the firm's extensive distribution network [1]

Core Viewpoint - Partners Group Holding AG (PGPHF) is a global private markets investment manager that provides various investment solutions to institutional clients, including private equity, private debt, private real estate, and private infrastructure [1] Financial Performance - On March 10, 2026, PGPHF reported earnings per share (EPS) of $35.59, slightly below the estimated $35.78, indicating a minor shortfall in a competitive market [2] - The company's revenue was approximately $1.76 billion, nearly in line with expectations, showcasing its ability to generate substantial income [2][6] Valuation Metrics - PGPHF has a price-to-earnings (P/E) ratio of approximately 17.15, suggesting that investors have confidence in the company's future earnings potential [3] - The price-to-sales ratio stands at about 9.23, reflecting the market's valuation of each dollar of the company's sales [4] - The enterprise value to sales ratio is around 10.48, indicating the company's total valuation relative to its sales [4] Financial Health - The debt-to-equity ratio is approximately 1.81, showing the proportion of debt used to finance assets relative to shareholders' equity [5][6] - With a current ratio of about 1.50, PGPHF demonstrates its ability to cover short-term liabilities with short-term assets, indicating a stable financial position [5]

Group 1 - BlackRock, Inc. is recognized as one of the 14 stocks nearing the status of Dividend Aristocrats, indicating its potential for consistent dividend growth [1] - Evercore ISI has reduced its price target for BlackRock to $1,235 from $1,275 while maintaining an Outperform rating, reflecting adjustments based on early assessments of asset manager flows for February and Q1 [2] - BlackRock sold its remaining 11.4% stake in Naturgy for approximately €2.79 billion (around $3.25 billion), selling 110,753,554 shares at €25.20 each, following a previous sale of a 7% stake in December for about $2 billion [3][4] Group 2 - BlackRock is an investment management firm that offers a range of services including active strategies, private markets, index investing, and cash management solutions, catering to both institutional and retail clients [5] - The firm appointed J.P. Morgan and Goldman Sachs to manage the accelerated bookbuild for the sale of its Naturgy stake, indicating a strategic approach to asset management [4]

Group 1 - Crude oil prices increased by as much as 28% over the weekend, indicating potential volatility in the US stock market [1] - The Monday trading session was anticipated to be challenging for US stocks, particularly the SPY index [1] Group 2 - Daniel Martins is the founder of DM Martins Research, focusing on creating efficient, replicable portfolios that balance growth with reduced downside risk [1] - The firm has been featured in over 2,000 articles across various platforms and cited by major media outlets such as the New York Times and CNN [1] - Daniel Martins has extensive experience in equity research and investment management, having worked with notable firms including FBR Capital Markets and Bridgewater Associates [1]

Core Insights - Fidelity Investments, Future Standard, and Hamilton Lane have invested in Corastone's platform for alternative investments, which utilizes a private, permissioned blockchain network as infrastructure and a data standard for private markets operations [1][5] - The platform aims to replace traditional file-based and point-to-point processes with a single network that enables direct processing across market participants [1][2] Group 1: Platform Functionality - The system connects general partners, wealth managers, and administrators on one platform, supporting activity across various asset classes while managing operational complexity [2] - Corastone's co-founder and CEO, Rashad Kurbanov, emphasized that the platform's launch with industry leaders validates their vision for a faster, more transparent, and scalable operation in private markets [3] Group 2: Industry Adoption and Goals - Other firms such as Apollo, Franklin Templeton, KKR, and Morgan Stanley have also adopted Corastone's technology for private market distribution, indicating a growing trend in the industry [3] - Co-founder and president Hamid Gayibov noted the need for standardized, digital infrastructure to support higher volumes and complex structures in private markets without adding operational burdens [4] - Corastone aims to serve as a common operating layer for the ecosystem, helping investors of all sizes access private market assets as efficiently and reliably as public markets [5]

Investor Presentation NASDAQ: OCSL Unless otherwise indicated, data provided herein are as of December 31, 2025. First Quarter 2026 Investor Presentation NASDAQ: OCSL First Quarter 2026 Confidential Forward Looking Statements & Legal Disclosures Some of the statements in this presentation constitute forward-looking statements because they relate to future events or our future performance or financial condition. The forward-looking statements contained in this presentation may include statements as to: our f ...

Group 1 - Jean Boivin is the head of economic and markets research at the Blackrock Investment Institute [1] - Prior to joining BlackRock, Dr. Boivin held significant positions including deputy governor of the Bank of Canada and associate deputy minister at Finance Canada [1] - Dr. Boivin has experience in teaching at prestigious institutions such as Columbia Business School and HEC Montreal [1] Group 2 - The focus of Dr. Boivin's work includes analysis of the global economy, global markets, and policy [1]