X0306 4 2020-01-01 0 0001527166 Carlyle Group Inc. CG 0001176400 HANCE JAMES H JR 1001 PENNSYLVANIA AVENUE NW WASHINGTON DC 20004 1 0 0 0 Common Stock 2020-01-01 4 C 0 251380 0.00 A 280979 D Carlyle Holdings partnership units 2020-01-01 4 C 0 251380 D Common Units Representing limited partnership interests 251380 0 D On January 1, 2020, The Carlyle Group L.P., a Delaware limited partnership, converted into a Delaware corporation named The Carlyle Group Inc. (the "Conversion"). As a result of such conversion, each common unit of limited partner interest of The Carlyle Group L.P. converted into a share of common stock of The Carlyle Group Inc. (the "Common Stock"). Pursuant to the terms of the Conversion, partnership units of Carlyle Holdings were exchanged for shares of Common Stock on a one-for-one basis. Pursuant to the terms of the exchange agreement and subject to certain requirements and restrictions, the partnership units of Carlyle Holdings were exchangeable for common units of The Carlyle Group L.P. on a one-for-one basis. Pursuant to Rule 16a-1(a)(4) of the Securities Exchange Act of 1934, as amended, the reporting person herein states that this filing shall not be deemed to be an admission that such reporting person is the beneficial owner of any of these interests, and disclaims beneficial ownership of such interests, except to the extent of such reporting person's pecuniary interest in such interests. /s/ Jeffrey W. Ferguson by power of attorney for James H. Hance, Jr. 2020-01-03