TRANSACTIONS CLOSED IN THE SPANISH LARGE MARKET Medium GPs - manage or advise on between €50 - €150M Large GPs - manage or advise on more than €150M Small GPs - manage or advise on less than €50M Source: SPAINCAP/webcapitalriesgo 400 300 200 100 0 61 84 98 132 157 182 205 240 292 358 379 419 2014 2017 2012 2015 2018 2020 2013 2016 2019 2021 2022 2023 Number of international entities investing in Spain (by size of funds managed) No. of entities 2021 2022 2020 Notes In terms of volume, in 2023, international GPs focused the majority of their investments in Spain on leveraged transactions3 and growth transactions4. By number of transactions, recent years have shown a growing interest by international GPs in investing in Spa-nish start-ups and scale-ups. This trend extended throu-ghout 2023, with a total of 121 investments in this segment, with the “late stage venture” category standing out as re-ceiving the largest number of investments (51) compared to the other categories. In 2023, investment activity was spread across nearly all sectors. By volume, the following sectors stood out: Heal-thcare (38.7% of investments), Industrial Products and Ser-vices (29.4%) and IT (7%). By number of investments: IT (66 investments), Financial Services (15), Consumer Goods (13), Industrial Products and Services (12) and Healthcare (12) among others. 2020 The Carlyle Group (Cepsa), CPPIB y Bridgepoint (Dorna Sports), Permira Asesores (Universidad Europea de Madrid), PAI Management (Areas), Rhone Capital, (Maxam), ICG (Konecta), EQT Partners (Ingenomix), Advent International (Vitaldent), CVC (Alfonso X El Sabio), KKR (Telepizza), KKR (Grupo Alvic), Bridgepoint (Miya Water), Providence (Masmovil), Investindustrial (Neolith), The Carlyle Group (Jeanologia), Investindustrial (Natra), Platinum Equity (Iberconsa), Vista Equity (Accelya) 2021 Platinum Equity (Urbaser), Cinven (Restaurant Brands Iberia), Silver Lake (Grupo BC), Apax Partners y Oakley Capital (Idealista), ICG (Alvinesa), Archimed (Suanfarma), Kinnevik y Softbank Vision Fund (Jobandtalent), Fremman Capital (Palex Medical) y Orient Hontai (Imagina Media Visual) 2022 CVC Capital Partners (La Liga), The Carlyle Group (Esmalglass), Bain Capital (ITP Aero), KKR (GeneraLife), CVC Capital Partners (Neolith), Ardian (Aire Netwroks), Advent International (Seedtag), The Carlyle Group (Grupo Garnica Plywood), Pai Partners (Uvesco), TA Associates (Espublico), ICG (Grupo Konecta), Natra (CapVest), Trilantic Capital Partners (Grupo Gransolar), Goldman Sachs (Fever) y Vitruvian Partners (Civitatis Group)