Carlyle Group Inc. — Director's Dealing 2021

May 4, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Carlyle Group Inc. (CG)
CIK: 0001527166
Period of Report: 2021-05-03

Reporting Person: LEE KEWSONG (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-03	Common Stock	S	2639	$43.49	Disposed	538339	Direct
2021-03-03	Common Stock	G	283563	$0.00	Disposed	2283407	Indirect
2021-03-03	Common Stock	G	283563	$0.00	Acquired	283563	Indirect

Footnotes

F1: These shares of common stock were sold on behalf of the reporting person to cover tax withholding obligations in connection with the vesting of restricted stock units, the grant of which was previously reported.

F2: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $43.4900 to $43.5121 per share, inclusive. The reporting person undertakes to provide to The Carlyle Group Inc., any security holder of The Carlyle Group Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of common stock sold at each separate price within the range set forth in this footnote.

F3: Reflects transfers made between the reporting person and grantor retained annuity trusts. Such transfers were exempt from reporting pursuant to Rule 16a-13 under the Securities Exchange Act of 1934, as amended.

F4: Reflects a transfer made between a grantor retained annuity trust and a trust for the benefit of the reporting person's family.

F5: Such shares of common stock are held in a grantor retained annuity trust.

F6: Such shares of common stock are held by a trust for the benefit of the reporting person's family of which the reporting person is the Investment Adviser and has sole investment power over the securities.