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INVESTOR PRESENTATION May 2021 EURAZEO 1 in a NUTSHELL

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INVESTOR PRESENTATION May 2021 EURAZEO 1 in a NUTSHELL INVESTOR PRESENTATION May 2021 EURAZEO 1 IN A NUTSHELL RECENT 2 Agenda DEVELOPMENTS LONG-TERM 3 GROWTH 4 OUTLOOK INVESTOR PRESENTATION 3 01. EURAZEO IN A NUTSHELL INVESTOR PRESENTATION A LEADING HIGH VALUE-ADDED 4 EUROPEAN PRIVATE MARKETS INVESTMENT MANAGER ASSETS UNDER MANAGEMENT €22.7bn1 PRIVATE EQUITY PRIVATE REAL 74% of AUM2 DEBT ASSETS 20%2 6%2 PRIVATE VENTURE ACCELERATION BUYOUT FUNDS − Digital − Growth − Mid-large − Dedicated − Direct Lending − Real Estate buyout Funds and − Smart City − Brands Mandates − Asset-based Finance − Infrastructure − Small-mid − Biotech − Healthcare buyout − Secondary Fund 1 As of March 31, 2021 – Net asset value not revalued on a quarterly basis 2 Excluding cash and the Asset Management activity INVESTOR PRESENTATION OUR ENHANCED MODEL OFFERS 5 MULTIPLE BENEFITS TO OUR SHAREHOLDERS Sources of funds Benefits for Eurazeo Management Advantages Fees Third-party Investing management Partners Performance Fees – Additional and recurring revenues – Expanding our investment opportunities’ pipeline Investments – Access to new asset classes Balance Sheet Capital Gains (debt...) – Team synergies – … Better returns for Eurazeo INVESTOR PRESENTATION OPTIMIZED BALANCE SHEET ALLOCATION MODEL 6 SEED SCALE & ACCELERATE Target 3rd party in 2021-22e Eurazeo Real Estate Eurazeo Private Eurazeo Brands 100% Capital 28% 72% Private Funds 100% (2014) Capital IV Funds IV Brands EurazeoEurazeo Private Private Debt 99% Real(2017) Assets 100% PMEPME III III 38% 62% Debt Eurazeo Infrastructure Eurazeo Under Growth 25% Venture 99% Infrastructure(Q1 2021) Growth III 75% construction III Balance sheet capital 3rd party capital 3rd party capital expected to be raised shortly _ Generate capital gains _ Benefit from value creation for the balance sheet _ Increase share of recurring revenues _ Seed new strategies _ Leveraging track record and team _ Asset light for Eurazeo to attract 3rd party capital _ Create track record to raise 3rd party capital _ Limited investment to accelerate growth of _ Benefit from management fees and share of fee-oriented strategy performance fees _ Create value in the General Partner INVESTOR PRESENTATION STRONG GROWTH AND SUCCESSFUL 7 TRANSFORMATION Growing … planting seeds in the asset management … most promising segments AUM (€bn) Weight of tech & healthcare in Private Equity AUM 22 43% 7% x3 8% 2017 2020 7 15% 2017 2020 Tech Healthcare INVESTOR PRESENTATION ESG: A MAJOR DRIVER OF VALUE CREATION 8 Improved Reduced risk, Access to company better a wider range performance risk/return of investors ratio INVESTOR PRESENTATION SETTING THE ESG BENCHMARK IN OUR SECTOR 9 PLACING SUSTAINABILITY AND IMPACT AT THE HEART OF OUR INVESTMENT MANAGEMENT TO CREATE VALUE THE BEST-IN-CLASS THE MOST AMBITIOUS player in our industry ESG strategy CLIMATE A+ − Achieve net zero emissions by 2040 (SBTi) ON ALL RELEVANT UNPRI CATEGORIES 01. Strategy & Governance 07. Private Equity (Indirect) INCLUSION 14. Fixed Income - Corporate Non-Financial − Promoting a more inclusive 16. Private Equity (Direct) economy The only private market investment company in the TOP 5 ESG index families A roadmap including all 17 of the UN Sustainable Development Goals INVESTOR PRESENTATION A ROBUST FINANCIAL STRUCTURE IS 10 A KEY CHARACTERISTIC OF EURAZEO NET CASH m position1 €255 REVOLVING bn credit facility €1.5 DRY bn powder €3.7 1 Net cash position proforma as of March 31, 2021 INVESTOR PRESENTATION 11 RECENT 02. DEVELOPMENTS INVESTOR PRESENTATION 2020, A RECORD YEAR ON ALL FRONTS 12 RECORD ASSETS UNDER MANAGEMENT RECORD FUNDRAISING RECORD NET ASSET VALUE (in €bn) (in €bn) (in €/share) 85.4 80.3 21.8 18.8 2.9 +16% 2.4 +6.3% +19% 2019 2020 2019 2020 Dec. 2019 Dec. 2020 INVESTOR PRESENTATION STRONG MOMENTUM CARRIED THROUGH 2021 13 AMOUNT RAISED FROM LPS A RICH PROGRAM OF FUNDRAISING (in €bn) in 2021-22 2021 2022 2.9 Growth 2.4 Secondary fund Private debt Mid-large buyout Small-mid buyout 1.2 Digital 2020 2021e Real assets 20192019 2020 2021e 1 Total YTD Amount to be raised Brands 1 As of May 14, 2021 INVESTOR PRESENTATION STRONG PORTFOLIO PERFORMANCE 14 OUTSIDE TRAVEL & LEISURE PORTFOLIO (excl. Travel & Leisure) Travel & Leisure Category 1-3 Category 4 CONSOLIDATED COMPANIES GROWTH COMPANIES ENCOURAGING EARLY TRENDS ECONOMIC REVENUE (LFL1) NOT CONSOLIDATED − Worldstrides: first signs of Strong recovery for summer and 2022 notably on domestic travels Resilient upswing AVERAGE portfolio REVENUE GROWTH − Planet: development of +20% electronic-payments following c.+61% acquisition of 3C +1% IN Q1 2021 − Grape (hotels): optimized structure, ready to benefit from local travel restart Q12019 2019 Q12020 2020 Q12021 2021 1) Life-for-like ie. at constant Eurazeo scope INVESTOR PRESENTATION 1 A DYNAMIC INVESTMENT ACTIVITY YTD 15 PRIVATE EQUITY: Omnichannel IP software & communication services Local payments Well-being, natural platform infrastructure beauty products 4 build-ups platform Cybersecurity Testing and Homecare services certification Premium products petfood a major build-up 1) Selection of representative investments signed on balance sheet as of May 14, 2021 INVESTOR PRESENTATION DELIVERING ON OUR ACCELERATED EXIT PROGRAM 16 Syndications / Co-investments Secondary Growth − Digital marketing − Asset management − Marketing tech − Tech companies corporation company 49% 20% 100% 32% stake sold strategic sale stake sold strategic sale for proceeds of 40-50% €340m In progress €280m €70m gross IRR 3rd party commitment on strategy x2.8 x2.1 x2.0 €215m CoC CoC 1 CoC sale from balance sheet 1) Gross CoC. Based on share price of Applovin as of May 17, 2021. Potential variation post 6-month lock up period. INVESTOR PRESENTATION 17 LONG-TERM 03. GROWTH INVESTOR PRESENTATION EURAZEO’S CONSISTENT TRACK RECORD IS A KEY 18 SUCCESS FACTOR TO ATTRACT LP CAPITAL C.60% EXITS BETWEEN 1.5X-3.0X COC INVESTMENT Moncler2 SIZE: 10.0x Moncler2 10.0 2 7.0x Moncler Moncler2 Asmodee 6.7 Farfetch >€150m 4.0x 4.6 4.1 4.0 4.1 Terreal Mors Smitt1 C2S 3.5x 3.5 3.5 Vignal Flexitallic Lighting1 3.4 Group1 ANF 3.2 3 Foncia 2.8 3.0x Fraikin Immo.2 2.9 Rexel Colisée1 2 2.8 Elis ANF 1-2 iM 2.8 IMV 2 Smile Iberchem €100–150m 1 Immobilier 2 2.5x 2.4 Tech. Accor2 Cap Vert 2.5 PeopleDoc Global Trader 2.4 2.4 2.4 2 2.3 2.3 2.2 Finance1 2.3 2.3 Elis 2.1 Moncler2 2.2 2.1 2.1 2.0x 2.0 2.0 2.0 2.0 CIFA Eutelsat B&B 1.8 1.9 1.9 1.9 Gault & 1 Frémont1 1.7 1.7 Odealim €50–100m 1.5x Edenred 1.4 Neovia 1.5 Accor2 2 Europcar2 1.0x Intercos 1.2 Elis Léon de Europcar2 Desigual Bruxelles Europcar2 0.7 APCOA 2 <€50m 0.5x Station Casinos Elis 0.5 Sirti 3SP 0.1 0.2 0.0 0.0 0.0x 0.0 x 2005 2013 2014 2015 2016 2017 2018 2019 2020 2021 Multiple 1 At Eurazeo PME level. 2 Partial sales. 3 On average over the entire investment. INVESTOR PRESENTATION SHORT-TERM DISCOUNT TO NAV WIDENED TO -20%1 19 AFTER 10 YEARS OF SIGNIFICANT AND REGULAR IMPROVEMENT 3-YEAR AVERAGE SHARE PRICE DISCOUNT TO NAV SPOT (%) DISCOUNT -31% -15% -12% c.-20%1 +12% pa net, incl. dividends €85.4 €34.7 NAV/share2 Dec. 2011 Dec. 2012 Dec. 2013 Dec. 2014 Dec. 2015 Dec. 2016 Dec. 2017 Dec. 2018 Dec. 2019 Dec. 2020 1 Spot discount compared to the share price as of May 10th, 2021. 2 NAV per share is adjusted for bonus share allocation INVESTOR PRESENTATION 20 04. OUTLOOK INVESTOR PRESENTATION ON TRACK TO DOUBLE OUR AUM WITHIN 5-7 YEARS1 21 POSITIVE DOUBLING 202X MARKET OUTLOOK FOR PRIVATE CAPITAL AUM + in 5-7 years ACCELERATING +FUNDRAISING SCALING UP 2020 +INVESTMENT DIVISIONS OPTIMIZING 2017 +OUR BALANCE SHEET 1. Announced in November 2020 INVESTOR PRESENTATION STRONG DYNAMIC OF EXITS IN 2021 AND 2022 22 SUPPORTING NET ASSET VALUE GROWTH Unlocking hidden value − Rebound in PE transactions expected in 2021 from investments following a global decline of 24% in 2020 − High asset valuations = − A sale premium for high-quality A mature assets that have emerged stronger portfolio +25% from the coronavirus crisis €3.4/sh +33% >+60% +22% €2.8/sh €2.7 €4.6/sh /share +31% + €2.5/sh A favorable market for exits 2016 2017 2018 2019 2020 INVESTOR PRESENTATION REGULARLY GROWING DIVIDEND POLICY 23 SUPPORTED BY HIGHER RECURRING REVENUES FROM ASSET MANAGEMENT (in €) +6.7% +20% CAGR 1.50 1.25 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 INVESTOR PRESENTATION 24 SCALING UP − Further fundraising OUR INVESTMENT growth in 2021-2022 Key DIVISIONS takeaways GROWING − Increase shareholder RECURRING remuneration EARNINGS / dividend − Ambitious exit INCREASING program in 2021 NET ASSET and 2022 VALUE − Portfolio development INVESTOR PRESENTATION 25 APPENDICES INVESTOR PRESENTATION ASSETS UNDER MANAGEMENT 26 In €m 31/12/2020 PF 31/03/2021 Change (%) vs. vs. NAV 3rd party AUM Total AUM NAV 3rd party AUM Total AUM LTM 31/12/2020 PF Private Equity, Eurazeo 4,536 8,465 13,001 4,439 9,412 13,851 26% 7% Mid-large buyout 2,523 1,226 3,749 2,542 1,406 3,949 -1% 5% Small-mid buyout 570 470 1,040 629 572 1,201 55% 15% Growth 1,000 845 1,845 822 1,260 2,081 78% 13% Brands 425 - 425 425 - 425 64% 0% Healthcare - 415 415 - 415 415 n.s. 0% Venture 18 2,472 2,490 22 2,610 2,632 16% 6% Private Funds - 3,038 3,038 - 3,149 3,149 24% 4% Private Debt 21 4,308 4,329 56 4,323 4,379 9% 1% Real Assets, Eurazeo 1,020 51 1,071 1,098 51 1,150 35% 7% Rhône1(30%) - 1,839 1,839 - 1,836 1,836 20% 0% MCH Private Equity (25%) - 220 220 - 220 220 12% 0% Kurma (40%) - 132 132 - 131 131 n.s.
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