orming 16.4 63 250-500bps $9,461 S16,923 $516 Carry-Generating AUM $26,900 1.2 > 500bps + Uninvested CE AUM 16,528 8,701 1,059 26,288 Permanent Capital NM Vehicles ex AAM + Invested AUM Not Currently Generating 6,793 21,583 865 29,241 Credit 21.6 13.0 11% Carry Carry-Eligible AUM $32,7

TAUSSIG CAPITAL Outperformance & Permanent Capital O r..,,,,121'2012 EFTA00506380 TAUSSIG CAPITAL The General Idea (Re)insur or Ban Con Ass Strateg e)insurance Banking a agement o sor Ca