Hg's quarterly update

Together we build enduring software and services leaders that transform how people work

of proceeds returned from all software and services businesses since 2001 at 3.0x gross MOIC / 32% gross IRR 1

years of investing (30+ including pre-independence)

aggregate EV of the Hg portfolio

total Software & Services Investments (200+ Total)

assets under management

employees across London, Munich, New York, Paris, San Francisco & Singapore

(All facts and figures as at 30 June 2025, adjusted to currency spot rates)

1 Returns presented are gross and do not include the effects of fees, commissions and other charges. Past performance is not a reliable indicator of future results. The value of investments and the income from them can go down as well as up as a result of market and currency fluctuations and other factors, some of which may be outside of our control, and investors may not get back the amount they originally invested. 2 Adjusted to currency spot rates.

Our portfolio in numbers

an ecosystem of software and services champions

Portfolio companies

portfolio employees

portfolio employee growth

portfolio sale growth LTM

portfolio EBITDA growth LTM

total revenue of our companies

Investment activity

LTM platform investment activity 5

Total deal EV

New platform investments

Last 10yrs investment activity

Total platform deal EV

Platform investments across software and services

3 As at 31 March 2025, adjusted for post period events, including realised and partially realised software & services investments made post-independence from 2001 to 2024. Past performance is not a reliable indicator of future results. Returns presented are gross and do not include the effects of fees, commissions and other charges. 4 4 These figures represent LTM 31 March 2025 sales and EBITDA growth of the investments held by HgCapital Trust plc (100% Hg portfolio), calculated on a weighted basis, based on the respective gross valuations of the underlying investments. HgT, whose shares are listed on the London Stock Exchange, gives private and institutional investors the opportunity to participate in all Hg's investments. 5 As at 30 June 2025, adjusted pro forma for post period events, with some transactions remain subject to closing

2025 M&A activity

6 Publicly disclosed transactions on company website from 1st January 2025 to 30th June 2025. Some investments remain subject to closing

Over a decade of software and services transactions

Year Invested
Total EV of investments (excl exits)⁷
<$500m EV
$500m-$2bn EV
>$2bn EV
2025
+$25bn
Scopevisio
Ascendia
The Citation Group (exit and recap)
SmartTrade (exit)
Trackunit (Part exit)
P&I (c.€5.5bn) (recap)
IFS (c.€15bn) (recap)
2024
~$40bn
Induver
CTAIMA
CUBE
MeinAuto (part exit) (Now called Athletic Sport Sponsoring)
F24 (part exit)
Ncontracts
Ivalua
Focus Group
Empyrean
CINC Systems
Dext (full exit)
GGW (recap)
AuditBoard (>$3bn)
IRIS (c.£3bn) (recap)
team.blue (recap) (c.€4.8bn)
Septeo (recap) (>$3bn)
Visma (c.€19bn) (recap) Argus Media (full exit) (c.$4.6bn)
TeamSystem (full exit)
2023
~$800m
JTL
NomadIA
Commify (c.€300mn) (full exit)
Silverfin (full exit)
GTreasury
Azets (recap)
TeamSystem (partial exit)
2022
$28bn+
Fonds Finanz
Quantios
Blinqx
Ideagen
LucaNet
Pirum
Rhapsody
Waystone
Itm8 (exit)
Medifox-DAN (~$1bn) (exit)
team.blue
IFS + Workwave (~$10bn)
Access Group (~$10bn) (recap)
2021
$25bn
Auvesy-MDT
Nitrogen
Bright
Geomatikk
Prophix
GGW
Dext
ProcessMAP
Norstella (c.$1.6bn)
HHAeXchange
Litera
Revalize (~$1.8bn)
Benevity (~$1bn)
FE fundinfo
Trackunit
Seralla
Mitratech (exit)
Allocate (exit)
FE fundinfo (exit)
Teamsystem
Insightsfotware (~$4bn)
Howden Group (~$5bn)
2020
$22bn
SmartTrade
GGW
F24
MMIT Evaluate
Evaluate (Exit)
Citation Group
Septeo (c.$1bn)
CaseWare
Gen II
Intelerad
Citation (exit)
Visma (c.$12.2bn)
P&I (c.€2 bn)
Sovos (c.$3bn)
Argus Media
Sovos (exit)
2019
$7.5bn
Silverfin
Litera
team.blue
Transporeon (c.$800m)

Foundry (exit) Register (exit)

Visma (c.€6.5 bn)
2018
$10bn
Allocate
Financial Express
itm8
Rhapsody
Medifox
IRIS (c.£1.2 bn)
Access Group (c. £1bn)
Visma (c.$5.3bn)
2017
$1.3bn
fundinfo
Register
MeinAuto Group Parts Alliance (exit)

Sequel (exit)

Mitratech
Zenith (exit)
2016
$2.7bn
Kinapse
The Citation Group
Trace One
STP
Commify
Evaluate
Sovos
Raet
Azets
2015
$1.0bn
APG Foundry Eucon EidosMedia Zitcom

7 Includes all announced investments, some may remain subject to closing

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The information in this video is not intended to be, and shall not be regarded or construed as, a recommendation or solicitation for any transaction or investment, nor financial, legal, tax or other advice of any kind, nor constitute or imply any commitment whatsoever, including, without limitation, an offer to purchase, sell or hold any security, investment, loan or other financial product or to enter into or arrange any type of transaction or investment. Nothing contained in this Information may be relied on as the basis for any contract for the purchase or sale of any investment. The Information was prepared exclusively by Hg, and the opinions expressed therein are current as of the date specified only.

Neither the Securities and Exchange Commission nor any other regulator has approved, passed on or endorsed the merits of any investment opportunity that may be described herein, nor have any foregoing authority confirmed the accuracy or determined the adequacy of this information. Any representation to the contrary is a criminal offense. Nothing contained in the information shall be relied upon as a promise or representation whether as to past or future performance. Hg does not have or undertake any obligation to update or keep current the information. Any performance information contained is based in part on hypothetical assumptions and, for certain assets, projected performance and “forward-looking statements”. These include, among other things, projections, hypothetical analyses of income, yield or return, future performance targets, sample or pro forma portfolio structures or portfolio composition. All forward-looking statements included are based on information available on the date of this document and neither Hg nor any of its affiliates assumes any duty to update any forward-looking statement. Such results are presented for illustrative purposes only and are based on various assumptions, not all of which are described herein. No representation or warranty is made by Hg, or any of its affiliates as to the reasonableness of such assumptions or as to any other financial information contained in the performance information (including the assumptions on which they are based). The actual performance of any underlying investment may differ, and may differ substantially, from that set forth in the performance information and undue reliance should not be placed on any such forward-looking statements. The performance information is provided on the understanding that a sophisticated investor will understand and accept its inherent limitations.

In all circumstances no representation, warranty or undertaking, express or implied, is or will be made or given and no responsibility or liability is or will be accepted by, and no party shall have any right of action (except in the case of fraud) against Hg or its directors, officers, employees, partners, shareholders, advisers or agents or any other person in relation to the accuracy or completeness of the information.

Hg Pooled Management Limited and its parent entity HgCapital LLP are authorised and regulated by the Financial Conduct Authority. Recipients of the Information are not clients of HgCapital LLP or Hg Pooled Management Limited. Neither HgCapital LLP or Hg Pooled Management Limited act for any recipient and neither firm will be responsible for providing protections afforded to their clients or advising recipients.