X0306 4 2020-02-10 0 0001527166 Carlyle Group Inc. CG 0001220640 LEE KEWSONG 1001 PENNSYLVANIA AVENUE, NW WASHINGTON DC 20004 1 1 0 0 Co-Chief Executive Officer Common Stock 2020-02-10 4 A 0 300000 0.00 A 2651754 D Common Stock 495814 I See Footnote 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. These shares of common stock were acquired upon the settlement of a performance-based restricted stock unit award previously granted to the reporting person. Reflects a transfer made between a grantor retained annuity trust and the reporting person. Such transfer was exempt from reporting pursuant to Rule 16a-13 under the Securities Exchange Act of 1934, as amended. Such shares of common stock are held in a grantor retained annuity trust. 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. Jeffrey W. Ferguson by power of attorney for Kewsong Lee 2020-02-12