Partners : 2023 Interim Financial Results presentation

Interim Financial Results 2023

David Layton Chief Executive Officer | Philip Sauer Head Corporate Development and Interim Chief Financial Officer

Private Infrastructure Wind

INTERIM FINANCIAL RESULTS 2023

2

Strong revenue growth supported by robust underlying portfolio performance

Business

Transformational investing is key

Focus on thematic investing and entrepreneurial

governance will be key to generating attractive returns

Bespoke drove growth

Bespoke solutions led H1 client demand, accounting for 68% of total funds raised

2023 guidance confirmed

USD 17-22 billion gross demand confirmed based on normalization of conversion periods

Financials

Solid performance fee development

Revenue growth of 19% year-on-year supported

by strong performance fee generation

Sustained mgmt fee growth

Management fees impacted by lower late fees

and unfavorable FX developments

~60% EBIT margin target confirmed

Continued focus on profitable growth of new business;

margin affected by unfavorable FX

Note: Figures as of 30 June 2023. For illustrative purposes only. Past performance is not indicative of future results. Refers to Partners Group Holding AG.

Source: Partners Group (2023).

INTERIM FINANCIAL RESULTS 2023

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How we deliver sustainable growth

Investments

Clients

Financials

Transformational investing	Bespoke solutions	Performance
is more relevant than ever	continue to drive	drives solid
in new environment	client demand	financials

INTERIM FINANCIAL RESULTS 2023

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Private equity returns have proven to remain healthy through macroeconomic cycles

	Higher interest		Dislocation	Low interest rate	Higher interest	Dislocation				Low interest rate
rate environment	and recovery	environment	rate environment	and recovery			environment
Base rates					US Fed Funds rate		ECB Deposit rate		GDP Growth (%)					GDP growth
8												6
6																				4
4																				2
																			0
2
																			-2
0																				-4
-2																				-6
1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017

Median buyouts TVPI
			1.63x	1.73x	1.90x	1.76x	1.67x
1.43x	1.38x
		Avg.			Avg.
		1.54x			1.83x

2.60x

Partners Group Direct Equity Fund I1

2.34x

2.08x

Partners Group Direct Equity Fund II 1

Partners Group Direct Equity Fund III1

1.63x

1.58x

1.65x

1.85x

1.69x

1.71x

1.91x

1.81x

1.78x

1.57x

1.50x

1.49x

1.51x

1.52x

Avg.

Avg.

Avg.

Avg.

1.60x

1.53x

1.59x

1.76x

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

For illustrative purposes only. The actual development depends on many factors and may differ significantly. There is no assurance that similar results will be achieved. GDP growth is represented by the GDP CYOY Index. Source: Partners Group, Bloomberg (May 2023), Pitchbook. The inclusion of this index is used for comparison purposes only and should not be construed to mean that there will necessarily be a correlation between the fund/investment return and the index. The fund is not managed nor designed to track such index. 1 Performance for Partners Group direct private equity closed-end funds, net of fees, with 2009, 2012 and 2016 vintages, as of 30 June 2023. Note: Past performance is not indicative of future returns. Source: Partners Group (2023).

INTERIM FINANCIAL RESULTS 2023

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Transformational investing builds resilience across cycles…

Thematic investing focuses on structural growth

90+ themes

across all asset classes

Identifying areas of structural growth with potential for

transformation

Entrepreneurial governance focuses on transformation

Taking the best from conglomerates while avoiding their

mistakes and risks

Building

thematic depth

Leveraging

advisor networks

Sourcing

thematically

Compounding

long-term winners

Leveraging		Deliberate
global platform		board design
Systematic strategy		Applying network of
setting and driving		operating directors

For illustrative purposes only. Source: Partners Group (2023).