KKR Private Markets Equity Fund

VERY EXTENSIVELY DOCUMENTED: (a) measured at TOTAL FUND LEVEL – more precisely at the level of the K-PRIME AGGREGATOR ('Total Return at K-PRIME Aggregator level'), NOT deal-by-deal; (b) measurement basis TOTAL RETURN = distributions PLUS the change in aggregate NAV, i.e. including UNREALISED appreciation; (c) HURDLE 5.00 % as an ANNUALISED IRR HURDLE on the K-PRIME Aggregator units – described as 'HARD high-water mark via Loss Carryforward'; (d) 100 % CATCH-UP: 'Excess Profits above 5% hurdle and Loss Carryforward until 15% of profits is allocated to the Recipient; then 15% on further Excess Profits' – economically, therefore, the hurdle is SOFT (full catch-up); (e) PERPETUAL HIGH-WATER MARK via a loss carryforward amount: negative annual total returns are accumulated and worked off by positive annual total returns until they are fully offset – NO time-based reset, only path-dependent loss recovery. IMPORTANT LIMITATION: merely falling short of the 5 % hurdle (without a loss) is NOT carried forward ('shortfalls vs 5% hurdle alone are not carried forward') – so years with a positive return below 5 % do not raise the later hurdle; (f) crystallisation: measurement ANNUAL, MONTHLY ACCRUAL, fixed at YEAR-END AND ON REDEMPTIONS, pro rata calculation for part-periods

KID Class R-EUR (as at 19 May 2026), investment of EUR 10,000: management fees and other administrative or operating costs 1.47 % p.a. (EUR 147, estimated on the basis of the actual costs of the previous year) + transaction costs 0.01 % p.a. (EUR 1) + performance fees EUR 250 (average of the last 5 years = 2.50 % p.a.). Total costs EUR 924 after 1 year (includes the 5 % exit fee), EUR 5,053 after 8 years. Annual cost impact (reduction in yield): 9.2 % for 1 year, 4.0 % p.a. for 8 years (return 16.5 % before costs / 12.5 % after costs)