StepStone acquisitions, on the record

Word for word“On September 20, 2021, we completed the acquisition of 100% of Greenspring in exchange for (i) cash consideration of approximately $185 million, net of an agreed upon adjustment based upon Greenspring’s net working capital balance at the closing date, (ii) 12,686,756 shares of Class A common stock and (iii) 3,071,519 newly issued Class C units of the Partnership.” 10-K for 2024

Word for word“On December 31, 2023, we completed the sale of 100% of the equity interests in Greenspring Back Office Solutions, LLC (“GBOS”) in exchange for a secured promissory note in the amount of $8.4 million to be received by us over approximately six years.” 10-K for 2024

Word for word“On February 7, 2024, we entered into transactions agreements with each of SRA, SRE, and SPD (the “Asset Class Entities”).” 10-K for 2024

Word for word“(6) Infrastructure includes 298 investments totaling $63.4 billion of capital commitments and excludes (i) eight infrastructure investments made by the Partnership prior to the formation of the infrastructure subsidiary in 2013 or made prior to StepStone's acquisition of Courtland Partners, Ltd. on April 1, 2018 (the "Courtland acquisition"), totaling $501.9 million of capital commitments, (ii) 40 client-directed infrastructure investments, totaling $9.2 billion of capital commitments, and (iii) investments that do not have client data monitored in SPI Reporting.” 10-K for 2025

Word for word“On February 7, 2024, we entered into transactions agreements with each of SRA, SRE, and SPD (the "Asset Class Entities").” 10-K for 2025

Word for word“On May 31, 2024, we completed the first annual exchange (the "2024 Exchange") to acquire approximately 5% of the equity interests of each of SRA, SRE and SPD pursuant to the Transaction Agreements dated as of February 7, 2024.” 10-K for 2025

Word for word“We expect the second annual exchange under the Transaction Agreements to occur on or about May 31, 2025.” 10-K for 2025

Word for word“In November 2022, we entered into arrangements with the SPW management team (the "Private Wealth Transaction") under which certain members of the SPW team received a profits interest in SPW and concurrently entered into an option agreement which provides that (i) we have the right to acquire the profits interest at the end of any fiscal quarter after June 30, 2027 in exchange for payment of a call price and (ii) the SPW management team, through an entity named CH Equity Partners, LLC, has the right to put the profits interest to us on June 30, 2026 or at the end of any fiscal quarter thereafter, in exchange for payment of a put price.” 10-K for 2025

Word for word“In the Blocker Mergers, the 100% owners of the Blocker Companies acquired an aggregate of 9,112,500 shares of newly issued Class A common stock and the Company acquired a corresponding amount of Partnership units.” 10-K for 2025

Word for word“references to the “ Greenspring acquisition ” refer to the acquisition of Greenspring Associates, Inc. and certain of its affiliates (“ Greenspring ”) that was completed on September 20, 2021;” 10-K for 2026

Word for word“On May 31, 2024, we completed the first annual exchange (the “2024 Exchange”) to acquire approximately 5% of the equity interests of each of SRA, SRE and SPD pursuant to the Transaction Agreements dated as of February 7, 2024.” 10-K for 2026

Word for word“On May 30, 2025, we completed the second annual exchange (the “2025 Exchange”) to acquire approximately 5% of the equity interests of each of SRA, SRE and SPD pursuant to the Transaction Agreements dated as of February 7, 2024.” 10-K for 2026