Q2 2026 Earnings

Client-Service Professionals

300

To do this, we leverage our team of over 5,800 investment and asset management professionals and employees, including over 300 client service professionals across 32 global offices, to ensure that the business exceeds our clients’ service expectations.

Private-Wealth Distribution and Product Team

150

We also have a dedicated team of approximately 150 people that are focused on distributing and developing catered products to the private wealth channel.

Fee Revenues

$1.49B

FOR THE THREE MONTHS ENDED JUNE 30, (MILLIONS) 2026 vs. 2025 2026 | | | 2025 | | | $ | | | % Base management fees 1 $ | | 1,357 | | | | $ | | 1,159 | | | | $ | | 198 | | | | 17 | | % Incentive distributions | | 128 | | | | 116 | | | | 12 | | | | 10 | | % Performance fees | | 1 | | | | — | | | | 1 | | | | NM Transaction and advisory fees | | 8 | | | | 10 | | | | (2) | | | | (20) | | % Fee Revenues | | 1,494 | | | | 1,285 | | | | 209 | | | | 16 | | %

Fee-Bearing Capital Inflows

$68.11B

FOR THE THREE MONTHS ENDED JUNE 30, (MILLIONS) Infrastructure | | | Energy | | | Private equity | | | Real estate | | | Credit | | | Total March 31, 2026 | | $ | | 109,187 | | | $ | | 72,160 | | | $ | | 48,029 | | | $ | | 102,846 | | | $ | | 281,565 | | | $ | | 613,787 Inflows | | 4,506 | | | 888 | | | 5,374 | | | 4,632 | | | 52,715 | | | 68,115

Uncalled Fund Commitments Not Currently Earning Fees

$68.00B

Approximately $68 billion of the Uncalled Fund Commitments are currently not earning fees, but will become fee-bearing once the capital is invested.

Global Offices

32

To do this, we leverage our team of over 5,800 investment and asset management professionals and employees, including over 300 client service professionals across 32 global offices, to ensure that the business exceeds our clients’ service expectations.

Assets Under Management

$1000.00B

We are a leading global alternative asset manager, headquartered in New York, NY, with over $1 trillion of Assets Under Management across infrastructure, energy, private equity, real estate, and credit.

Fee-Bearing Capital

$672.16B

The following tables summarize Fee-Bearing Capital as of June 30, 2026 and December 31, 2025: AS OF (MILLIONS) Long-term private funds | | | Permanent capital and perpetual strategies | | | Liquid strategies | | | Total Infrastructure | | $ | | 51,158 | | | | $ | | 63,083 | | | | $ | | — | | | | $ | | 114,241 Energy | | 39,531 | | | | 34,778 | | | | — | | | | 74,309 Private equity | | 44,153 | | | | 9,389 | | | | — | | | | 53,542 Real estate | | 73,945 | | | | 30,245 | | | | — | | | | 104,190 Credit | | 88,896 | | | | 155,989 | | | | 80,992 | | | | 325,877 June 30, 2026 | | $ | | 297,683 | | | | $ | | 293,484 | | | | $ | | 80,992 | | | | $ | | 672,159

Fee-Related Earnings

$808.0M

FOR THE THREE MONTHS ENDED JUNE 30, (MILLIONS) 2026 vs. 2025 2026 | | | 2025 | | | $ | | | % Base management fees 1 $ | | 1,357 | | | | $ | | 1,159 | | | | $ | | 198 | | | | 17 | | % Incentive distributions | | 128 | | | | 116 | | | | 12 | | | | 10 | | % Performance fees | | 1 | | | | — | | | | 1 | | | | NM Transaction and advisory fees | | 8 | | | | 10 | | | | (2) | | | | (20) | | % Fee Revenues | | 1,494 | | | | 1,285 | | | | 209 | | | | 16 | | % Less: direct costs 1,2 (664) | | | | (590) | | | | (74) | | | | 13 | | % 830 | | | | 695 | | | | 135 | | | | 19 | | % Less: Fee-Related Earnings not attributable to BAM | | (22) | | | | (19) | | | | (3) | | | | 16 | | % Fee-Related Earnings 3 808 | | | | 676 | | | | 132 | | | | 20 | | %

Segment Earnings

$640.0M

FOR THE THREE MONTHS ENDED JUNE 30, 2026 (MILLIONS) Infrastructure | | | Energy | | | Private equity | | | Real estate | | | Credit | | | Total Segments Segment Revenues | | $ | | 270 | | | | $ | | 186 | | | | $ | | 129 | | | | $ | | 258 | | | | $ | | 474 | | | | $ | | 1,317 Segment Expenses Compensation and benefits | | ( 79 ) | | | | ( 55 ) | | | | ( 66 ) | | | | ( 99 ) | | | | ( 179 ) | | | | ( 478 ) Facilities, technology and professional fees | | ( 20 ) | | | | ( 10 ) | | | | ( 14 ) | | | | ( 23 ) | | | | ( 33 ) | | | | ( 100 ) Travel and other operating expenses (a) ( 14 ) | | | | ( 12 ) | | | | ( 8 ) | | | | ( 11 ) | | | | ( 54 ) | | | | ( 99 ) Segment Earnings | | $ | | 157 | | | | $ | | 109 | | | | $ | | 41 | | | | $ | | 125 | | | | $ | | 208 | | | | $ | | 640

Active Investment Strategies

59

We have 59 unique active strategies that span a wide range of risk-adjusted returns, including opportunistic, value-add, core, super-core, and credit.

Investment and Asset-Management Professionals and Employees

5.8K

To do this, we leverage our team of over 5,800 investment and asset management professionals and employees, including over 300 client service professionals across 32 global offices, to ensure that the business exceeds our clients’ service expectations.