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Each of the subsidiaries of TPG Inc. (the “Company”) listed below is a guarantor of the 5.875% Senior Notes due 2034 and 6.950% Fixed-Rate Junior Subordinated Notes due 2064 (collectively, the “Notes”) issued by TPG Operating Group II, L.P., a Delaware limited partnership and subsidiary of the Company. In addition to the subsidiaries listed below, the Company is also a guarantor of the Notes.  
 |  |  |  |  |  |  |  |  | 
| Subsidiary Guarantor |  | Jurisdiction of Organization | 
| TPG Operating Group I, L.P. |  | Delaware | 
| TPG Operating Group III, L.P. |  | Delaware | 
| TPG Holdings II Sub, L.P. |  | Delaware |