Update on Partners Group March 2021 Gonzalo Fernández Castro Private Equity Americas | Hal Avidano Co-Head Private Equity Integrated Investments Americas UPDATE ON PARTNERS GROUP 2 Table of contents 1 Overview 2 Clients 3 Industry 4 Investments 5 ESG 6 Financials OVERVIEW 3 About us Dedicated to private markets Leveraging strong resources • Our AuM stands at USD 109 billion:1 USD 52 billion in • We have over 1,500 employees worldwide2 across 20 corporate equity & USD 57 billion real assets / financing offices and over 750 private markets professionals • We leverage our database of over 36,000 private markets • Our platform, portfolio and network provide extensive assets to generate attractive deal flow synergies and opportunities for owners and entrepreneurs We have a global presence with 20 offices across key investment regions Tokyo Shanghai Seoul Toronto Dubai Denver London New York Mumbai Guernsey Luxembourg Manila Houston Munich Paris Singapore Zug Milan São Paulo Sydney Americas Europe Asia Pacific For illustrative purposes only. Source: Partners Group (2020). 1 Unaudited, inclusive of all Partners Group affiliates, as of 31 December 2020. 2 As of 31 December 2020. OVERVIEW 4 About our portfolio Partner to business Entrepreneurial ownership Corporate assets (USD 52 billion AuM1) Healthcare Industrials Consumer & services Technology Real assets / financing (USD 57 billion AuM2) Infrastructure Real estate Real asset services Financing We are "responsible for the dreams" of the 200,000+ partners and employees who work alongside us in our portfolio For illustrative purposes only. Source: Partners Group (2019). 1 Corporate equity includes Partners Group's private equity asset under management as of 31 December 2020. 2 Real assets / financing includes Partners Group's asset under management relating to private real estate, private infrastructure and private debt as of 31 December 2020. OVERVIEW 5 The Partners Group formula Attractive industry Partners Group business model Rising private Institutional Outperformance Multi-asset class markets asset growth across cycles offerings allocations + Complex client Globally needs/market integrated service consolidation organization Competitive shareholder returns Continued x Stable + Balance sheet- = Earnings ≈ Dividend AuM growth margins light approach growth growth Source: Partners Group. UPDATE ON PARTNERS GROUP 6 Table of contents 1 Overview 2 Clients 3 Industry 4 Investments 5 ESG 6 Financials CLIENTS 7 Around 900 institutional organizations as clients Public pension funds and sovereign wealth funds Insurance companies Private pension funds Banks and distribution partners We are "responsible for the dreams" of our 200+ million beneficiaries Clients listed include direct clients of Partners Group (USA) Inc., Partners Group AG or their affiliates, and investors in funds managed or advised by such parties. Clients listed were selected to demonstrate the breadth and types of clients served by Partners Group. Inclusion in the list does not indicate approval or disapproval by any of the clients of Partners Group or the services rendered by Partners Group to the relevant client. As of 31 December 2019. CLIENTS 8 Our sustainable returns and service excellence are expected to drive future growth Total assets under management1 (in USD billion) +16% 109 Private AuM 16 94 infrastructure 1533 # employees Private 83 1464 17 real estate 74 +5% 1203 25 Private 57 debt 50 1036 43 45 930 37 840 31 746 24 28 701 Private 22 625 52 18 574 equity 11 447 334 361 6 273 137 175 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Initial public offering Note: assets under management exclude discontinued public alternative investment activities and divested affiliated companies held up to 2013. 1 Partners Group aims to mirror the fee basis for its various programs and mandates when calculating AuM. AuM covers programs, mandates and assets to which Partners Group renders (full or partial) investment management or advisory services, but does not cover consultant, transaction or other ancillary services it may render to clients or assets from time to time. AuM is typically calculated as either i) the program size, ii) outstanding commitments to investments, iii) the net asset value or the outstanding principal of investments, or iv) the respective investment exposure. The AuM basis is increased by the amount of assets raised that are based on i) subscriptions, or ii) new fee-paying assets and amounts planned to be invested which would become fee-paying assets in the following six months. Reductions in the AuM basis for mature programs i) may follow a fixed schedule, ii) can be based on the cost of realizing assets, or iii) may be the result of such programs being liquidated. The AuM basis is also reduced by redemptions on open-ended programs. Further changes in the AuM basis may be explained by factors such as performance or changes in FX rates. Source: Partners Group (2021). CLIENTS 9 Bespoke client solutions remain the largest constituent of our AuM Assets raised during 2020 AuM as of 31 December 2020 Private infrastructure Private infrastructure 22% 14% Private real Private equity Private equity Private real estate USD USD 40% 48% estate 16 billion 15% 109 billion 15% Private debt Private debt 23% 23% Traditional Bespoke USD Traditional USD Bespoke client programs client solutions 16 billion 109 billion client programs client solutions 36% 64% 42% 58% Evergreen programs (26%) Note: Mandates AuM include commitments by select mandate clients into traditional programs; therefore, the corresponding amount is not included within the AuM category traditional but within mandates. Source: Partners Group (2021). CLIENTS 10 Solid client demand and performance led to 11% AuM growth in 2020, excluding FX effects; net AuM growth stands at 16%, including FX effects Total assets under management development (in USD billion, except where stated otherwise) +16.0 -8.1 +7.1 = EUR 89.2 bn Tail-downs: -6.2 FX +4.9 USD 109.1 = CHF 96.4 bn H2: 7.7 Redemptions: -2.0 Others +2.2 USD 94.1 H1: 8.3 Performance- Typically based on a formula Net redemptions are Driven by the related effects on in traditional closed-ended typically limited to 20- Euro appreciation select programs programs which was pre- 25% p.a. of the of 9% against the that link their AuM agreed with clients at the prevailing NAV for US Dollar to their NAV time of contract. evergreen programs. (EUR AuM: 47%). development. 2019 New money/ Tail-downs & FX & others2 2020 commitments redemptions1 1 Tail-downs & redemptions: tail-downs consist of maturing investment programs (typically closed-ended structures); redemptions stem from evergreen programs. 2 Others consist of performance and investment program changes from select programs. Due to rounding, some totals may not correspond with the sum of the separate figures. Source: Partners Group (2021). CLIENTS 11 AuM stem from an international and broad range of clients AuM by region (as of 31 December 2020) AuM by client type (as of 31 December 2020) Asia Australia Distribution 6% 7% Switzerland partners / private Middle East 16% individuals Public pension 3% 18% funds & SWFs 24% South America Germany & 2% USD Austria Asset managers, USD North America 109 billion 16% family offices, 109 billion 16% banks & others France & Benelux 19% 6% UK Southern Europe Corporate & other 21% Scandinavia Insurance 4% pension funds 4% companies 10% 29% Note: due to rounding, some totals may not correspond with the sum of the separate figures. Source: Partners Group (2021). CLIENTS 12 AuM well-diversified across programs and clients Breakdown by private market programs and mandates1 Breakdown by client and program structure1 Largest client 3% Top 2-5 clients 7% Top 6-10 clients 5% Top 11-20 clients USD >850 other 7% 109 billion USD institutions 78% 109 billion (around 300 programs & mandates) Traditional Bespoke USD client programs client solutions 109 billion 36% 64% Evergreen programs (26%) Note: due to rounding, some totals may not correspond with the sum of the separate figures. 1 Assets under management as of 31 December 2020. Mandates AuM include commitments by select mandate clients into traditional programs; therefore, the corresponding amount is not included within the AuM category "traditional client programs". Source: Partners Group (2021). CLIENTS 13 Our portfolio management enables clients to reach their targeted exposure Investment-level steering to achieve target allocation Risk Return potential management through asset allocation Cash management & Access to multi-asset FX hedging class platform Outperformance through relative value investing For illustrative purposes only. There is no guarantee that similar investments will be made. The investment selection is not an exhaustive list. Source: Partners Group (2021). CLIENTS 14 We are leaders in constructing highly customized private markets portfolios Strong growth in bespoke solutions Sustainable growth in traditional offering Evergreen programs Mandates Traditional programs (in USD billion) (in USD billion) (in USD billion) 50 50 42 39 40 40 40 35 28 17% p.a. 12% p.a. 30 30 30 25 27% p.a. 23 20 20 19 20 15 9 10 10 10 5 0 - 0 2015 2020 2015 2020 2015 2020 Highly sophisticated offerings that are tailored to Traditional closed- clients' needs and steered by portfolio management ended structures Note: Growth p.a. represents the CAGR of AuM by the respective program structure over the period 31 December 2015 – 31 December 2020. Mandates AuM include