28 January 2014 Brokers. Asset Managers & Exchanges Alternative Asset Manager Initiation [Figure 52' KKR Private Markets Segment Income Statement Forecasts INCOME STATEMENT 2012 1013 2013 3018 4013E 1013E 101E 2014E 3014E 404 F to memos: Monspemini 8 inainOW *Rs lesnegerner4 lees 4239 1066 1147 1194 1264 " 4671 1316 137 3 1425 145 7 hcenWe lees 10 20 30 TOW IT TI & rent* lees lksuitrong 6 vannceon loos ttnecrog foes ' 4239 1166 056 321 114 7 289 1194 330 1264 319 487 1259 131.6 348 int 363 146 377 148.7 335 Tweak* lees 965 164 252 560 618 106 614 468 325 326 494 (3114$ (97 4) (2101 (29 5) (466) (50 2 11474) 148 I) 1399/ 133 7) (35 5 Tote) ircedormg 8 kensectal lees " 115 7 275 246 414 445 1390 481 432 38.5 36.5 TOMl14. ree*ne* skeitTelf IncontolloW: 5316 134.1 1393 18011 1701 eat 1717 111.5 161.1 194.2 Rahncicorrlo3 Monet 475 7 882 3698 815 105 6290 2350 2350 IWO 252 4 1.13.4130 carnal nen( 9170 3108 1212151 2640 3342 062 99 190 429 527 TOW 0/:46 crawl InWost 13928 300 570 3455 5237 13252 2449 254 0 3029 305.1 0844 mean*, ncsv. 06 (20) (0 2) 34 • 10 21 10 • 10' 10' 10 Total lnnetaienl ram • (loos) 1333.4 MAI 560 MO 534.7 1.327.3 245.9 255.0 3031 3011 Total Ronne* ' 1.9129 631.0 1914 5017 06.7 ' 1332.4 4216 430 48411 490.3 TWO 701al Ammo net d and 314m1 cow 4:( 12237 300 4 101 3620 4798 33714 3145 200 3068 310.0 12,priss: CarmxOnlorese cap @sperms Atocatica to NCR carry 00:4 5665 161 3 222 1399 205 5330 930 101 6 121 2 122.0 kerasernan N. MAIMS 1437 92 47 76 63 2130 132 549 570 563 TOW CCM *WM (14114003140 te440410)(44039 1W3 1706 270 107 2158 5510 1111 156 5 1752 18.3 Come non 4 beneete 1926 433 515 654 834 233.3 719 726 724 73.7 OCC*64nCy OM WON C1144901 486 114 III 134 14 7 506 132 131 135 148 Ceki opet09/9 spenses 147 3 339 340