CVC CAPITAL PARTNERS PLC ANNUAL

Capital management

26. Capital management T he primary objectives of the Group’s capital management strategy are to effectively manage returns to shareholders and ensure adequate capital is available in order to conduct the Group’s principal activities. To meet these objectives the Group manages its contracted management fees, which primarily generates cash on a quarterly or half-yearly basis in advance (with the exception of Credit which is quarterly in arrears), against its investment commitments. Any short-term funding requirements are managed by the Group through its RCF. In addition, the dividend policy is assessed when distributions are made to appropriately reflect any change. Under Part 17 of the Companies (Jersey) Law 1991, distributions may be debited to any profit or capital account of the Parent Company. The equity position of the Group remains strong with total equity attributable to equity holders of the parent of €1,618.2m as at 31 December 2025 (Dec-24: €985.7m ). The private placement notes and RCF are subject to financial covenants in the form of a leverage ratio and a minimum AUM amount, which is tested on a bi-annual basis. The Group, through certain subsidiaries, is also subject to certain regulatory capital requirements. During the current and prior periods the Group was fully compliant with regulatory capital requirements and banking covenants. Refer to note 19 for further details on covenants.