KKR, a leading global investment firm, and XPV Water Partners, a leading water-focused investment firm, today announced the signing of a definitive agreement to sell Axius Water ("Axius") to CRH, a leading building materials company.

Formed in 2019 by KKR and XPV to unify high-potential companies across nutrient management, Axius has grown into a global leader in advanced water quality solutions.

"As pressures on global water systems intensify, water quality challenges in developed markets are mounting. We formed Axius alongside XPV to help address these challenges, bringing together specialized businesses into a scaled platform with real depth of talent and expertise," said Kyle Matter, Managing Director and Head of North America Global Impact at KKR. "Purpose-built to meet a critical global need, Axius exemplifies our Global Impact strategy. We are proud of what Chris and the team have accomplished and believe CRH is the right choice to carry that momentum forward."

"Over the past several years, we've assembled a talented team and a unique set of capabilities in water quality, and I'm incredibly proud of what we've built with KKR and XPV. We're excited to enter this next chapter with CRH, whose resources and reach will allow us to bring our solutions to even more communities facing these challenges," said Chris McIntire, Axius Water CEO.

"Together with KKR, we've supported the company in building out its core scaling capabilities, enabling a broader deployment of water quality solutions that are needed to meet a growing demand," said David Henderson, Managing Partner at XPV Water Partners. "We're proud of the progress to date and believe CRH is well positioned to take that platform to the next level."

The transaction is expected to close in Q2 2026, subject to customary regulatory approvals and closing conditions.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR's website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at www.globalatlantic.com.

About XPV Water Partners

XPV Water Partners is a team of experienced growth investors and business builders committed to making a difference in water. With more than US $1 billion in AUM, XPV leverages exceptional talent, deep industry knowledge, and a proven growth platform to rapidly scale businesses, generate superior returns for all stakeholders, and meaningfully contribute to a water-secure future. For more information, visit www.xpvwaterpartners.com.

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KKR and XPV Water Partners Agree to Sell Axius Water