Carlyle Group Inc.

Risk Management and Strategy

We regularly assess risks from cybersecurity threats, monitor our information systems for potential vulnerabilities, and

test those systems pursuant to our cybersecurity policies, standards, processes, and practices, which are integrated into our

overall risk management system. To protect our information systems from cybersecurity threats, we use various security tools

that help us identify, protect against, detect, respond to, and recover from security incidents. These efforts are implemented by

our Global Technology & Solutions (“GTS”) team in partnership with other stakeholders and are essential for our operations.

Our systems, data, network, and infrastructure are monitored and administered by formal controls and risk management

processes that log events and help protect the firm’s data. In addition, our business continuity plans are designed to allow

critical business functions to continue in the event of an emergency. The GTS team works closely with our business segment

teams to maintain operational resilience through business continuity planning and annual information technology disaster

recovery and incident response plan testing. These efforts are underpinned by the implementation of security best practices,

where possible, such as:

•Multi-factor authentication for remote access, privileged access management for system administrators,

application whitelisting, laptop encryption, mobile device management software, and advanced malware

defenses on endpoints;

•Incident preparedness and response planning and risk mitigation;

•Independent and continuous security testing, assessment, and third-party risk management;

•Regular security awareness training, including phishing simulations;

•Restrictions on access to personal email accounts, cloud storage, social media, risk-based categories of

websites, and USB storage devices;

•Device and system access management policies and procedures that restrict access upon employee or

contractor separation from the Company; and

•Attestations by Carlyle personnel to abide by firm policies, such as our acceptable use policy, upon hire and

annually.

In addition, we partner with third parties to assess the effectiveness of our cybersecurity program, including audits and

assessments performed under the direction of Carlyle’s Internal Audit team, which co-sources with third-party cybersecurity

experts in conducting its reviews. GTS also administers the firm’s cyber third-party risk management program, which assesses

external service providers before onboarding and provides ongoing monitoring in accordance with certain risk-based

cybersecurity criteria.

To our knowledge, cybersecurity threats, including as a result of any previous detected or undetected cybersecurity

incidents, have not materially affected us, including our business strategy, results of operations, or financial condition; however,

we may learn new facts about these detected or undetected incidents and these facts may lead us to change this materiality

assessment. The sophistication of cyber threats continues to increase and there can be no assurance that the various procedures

and controls we utilize to mitigate these threats will be sufficient to prevent disruptions to our systems. Consequently, given

that the magnitude of cybersecurity incidents or threats are difficult to predict, we are unable to determine at this time whether

risks from cybersecurity threats are reasonably likely to materially affect us, including our business strategy, results of

operations, or financial condition. For an additional description of cybersecurity risk and potential related impacts on us, see

Part I, Item 1A “Risk Factors—Risks Related to Our Company—Operational risks (including those associated with our

business model), system security risks, breaches of data protection, cyberattacks, or actions or failure to act by our employees

or others with authorized access to our networks, including our ability to insure against such risks, may disrupt our businesses,

result in losses, or limit our growth.”

Governance

Our Board of Directors oversees our enterprise risk management strategy, including our strategy on cybersecurity

risks, directly and through its committees. In this respect, the Audit Committee of the Board of Directors (the “Audit

Committee”) oversees our risk management program, which focuses on the most significant risks we face in the short-,

intermediate-, and long-term timeframe. Audit Committee meetings include discussions of specific risk areas throughout the

year, including, among others, those relating to cybersecurity, and reports from the Chief Audit Executive on our enterprise risk

profile on an annual basis. In addition, our Chief Information Security Officer (“CISO”) leads our cybersecurity program, chairs

our ISC, and provides cybersecurity status reporting to our Audit Committee at least annually. The ISC meets quarterly and

ensures that cybersecurity initiatives are in alignment with Carlyle’s strategic priorities.

We take a risk-based approach to cybersecurity and have implemented cybersecurity policies, standards, processes,

and practices throughout our operations that are designed to address cybersecurity threats, events, and incidents. In particular,

our cybersecurity program supports security governance, security awareness and training, security engineering and architecture,

security risk management, vulnerability management, security monitoring, and incident response capabilities. In addition, our

incident response plan contains escalation and reporting protocols, including reporting to the firm’s Disclosure Committee to

consider materiality of cybersecurity incidents. Policies and procedures are in place to assist the firm’s Disclosure Committee

with these materiality assessments and any resulting reporting requirements.

Our CISO, in coordination with our Chief Financial Officer, Chief Compliance Officer, Chief Information Officer,

Chief Risk Officer, and Chief Audit Executive, among certain other senior executives, is responsible for leading the assessment

and management of cybersecurity risks. The current CISO has over 20 years of experience in information security that includes

key roles managing cybersecurity risk in both government and the private sector.