ICG PLC: Q1 trading statement for the three months ended 30 June 2026

ICG PLC

Q1 FY27 trading update

For the three months ended 30 June 2026

Highlights

AUM and fee-earning AUM	AUM of $126bn Fee-earning AUM of $88bn, up 3% in the quarter and up 10% year-on-year1 $2.4bn net additions2 to fee-earning AUM Gross additions of $4.4bn ($2.1bn from funds raised that charge fees on committed capital, $2.3bn from deployment), gross realisations of $2.0bn Dry powder of $36bn, of which $18bn is not yet earning fees
Fundraising	Strong traction from clients, with total fundraising of $4.1bn in the quarter Structured Capital & Secondaries $2.2bn raised, largely from Europe IX that raised $2.1bn (€1.8bn) Europe IX stood at €11bn at 30 June 2026 and is on track to close at a total fund size of €12bn in Q2 FY27, significantly in excess of its €10bn target and 50% larger than the prior vintage. It is materially oversubscribed, reflecting the highly differentiated nature of the strategy and its strong track record Europe IX is ICG's largest-ever co-mingled fund and at €12bn will be the largest co-mingled structured capital fund ever raised globally3 Real Assets SRE III (European Real Estate equity) has launched, first close expected before end of FY274. SRE II total fund size was €0.7bn Debt SDP VI has launched, first close expected before end of FY274
Transaction activity	ICG's funds deployed $3bn of capital during the quarter (LTM: $14.3bn)5, broadly balanced across all asset classes
Corporate	Final dividend for FY26 of 59.3p to be paid on 31 July 2026 Bank of America Securities appointed as joint corporate broker alongside Deutsche Numis Fitch Ratings affirmed ICG's rating at BBB+ (stable)6
1 On a constant currency basis; 2 Pre step-downs, ICG commitment and FX & other movements; 3 Preqin, as of June 2026; 4 The timings of launches and closes depend on a number of factors, including the prevailing market conditions; 5 Direct investment funds; 6 Rating reaffirmed on 10 July 2026

COMPANY TIMETABLE

Payment of ordinary dividend	31 July 2026
Half year results announcement	11 November 2026

ENQUIRIES

Shareholders and debtholders / analysts:
Chris Hunt, Head of Corporate Development and Shareholder Relations, ICG	[phone]
Media:
Fiona Laffan, Global Head of Corporate Affairs, ICG	[phone]

ABOUT ICG

ICG (LSE: ICG) is a global alternative asset manager with $126bn* in AUM and more than three decades of experience generating attractive returns. We operate from over 20 locations globally and invest our clients' capital across Structured Capital and Secondaries (Structured Capital and Private Equity Secondaries); Debt (Private Debt and Credit); and Real Assets. Our exceptional people originate differentiated opportunities, invest responsibly, and deliver long-term value. We partner with management teams, founders, and business owners in a creative and solutions-focused approach, supporting them with our expertise and flexible capital. For more information visit our website and follow us on LinkedIn

*As at 30 June 2026.

PERFORMANCE OVERVIEW

Fee-earning AUM $m	Structured Capital and Secondaries		Real Assets			Debt		Total
At 1 April 2026	43,134		9,793			33,589		86,516
Funds raised: fees on committed capital	2,073		-			-		2,073
Deployment of funds: fees on invested capital	76		310			1,891		2,277
Total additions	2,149		310			1,891		4,350
Realisations	(140)		(278)			(1,562)		(1,980)
Net additions / (realisations)	2,009		32			329		2,370
Stepdowns	-		-			-		-
FX and other	(511)		(124)			(76)		(711)
At 30 June 2026	44,632		9,701			33,842		88,175
Q-o-Q change ($m)	1,498		(92)			253		1,659
Q-o-Q change (%)	3%		(1%)			1%		2%
Constant currency:
Q-o-Q change	4%		-			1%		3%
Y-o-Y change	16%		7%			3%		10%
Last five years CAGR	21%		12%			5%		12%
Business activity
$bn	Fundraising				Deployment1					Realisations1,2
	Q1 FY27	LTM			Q1 FY27		LTM			Q1 FY27	LTM
Structured Capital and Secondaries	2.2	7.2			1.0		6.2			0.1	0.9
Real Assets	1.3	5.5			0.7		2.7			0.3	1.6
Debt3	0.6	4.6			1.3		5.4			0.7	4.2
Total	4.1	17.3			3.0		14.3			1.1	6.7
1 Direct investment funds; 2 Realisations of fee-earning AUM; 3 Includes Deployment and Realisations for Private Debt only

FOREIGN EXCHANGE RATES

	Average rate		Period end
	Q4 FY26	Q1 FY27	31 March 2026	30 June 2026
GBP:EUR	1.1470	1.1582	1.1449	1.1611
GBP:USD	1.3465	1.3441	1.3228	1.3262
EUR:USD	1.1739	1.1605	1.1553	1.1422

This results statement may contain forward-looking statements. These statements have been made by the Directors in good faith based on the information available to them up to the time of their approval of this report and should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward looking information.

References to investment strategies, fundraising activities or products are provided for information purposes only and do not constitute an offer to sell, or a solicitation of an offer to subscribe for, any fund, security or investment product in any jurisdiction.

Unless otherwise stated the financial results discussed herein are on the basis of alternative performance measures (APM) basis; see full year results.