Title Coatue EMW 2025 - Keynote.pdf ✅

Agenda Publics Privates 3
1960-1980 1980s 1990s 2000s 2010s 2015 - 2020 Cloud / SaaS PC Desktop Internet (Web 1.0) Networking Mobile Internet (Web 2.0) Mainframe AI 2022 - 2025+ Source: Coatue opinion and analysis as of June 2025. For illustrative purposes only. Lines illustrating prior waves and “Coatue’s View” of the general potential Generative AI wave are meant to indicate Coatue’s view of the relative impact and broad reach of technology waves globally, not a specific numerical value. There is no guarantee that Coatue’s views and projections regarding the future potential of AI are accurate or that any particular Coatue investment or fund will benefit from the AI trend. Figures, estimates and Coatue calculations based on available data and are subject to change at any time based on additional information received. See Appendix - Disclosures for additional information including regarding AI, forward looking statements. Tech is driven by major waves of innovation 4