Half Year Results a STABILIZING FORCE

H12020 Half Year Results A STABILIZING FORCE

1 VIRGINIE MORGON - CEO

2 9 . 0 7 . 2 0 2 0 - RESILIENT NET ASSET VALUE 2 AND ROBUST BALANCE SHEET PHILIPPE AUDOUIN - CFO

AGENDA HALF YEAR RESULTS

- H 1 2 0 2 0

ACCELERATING GROWTH 3 VIRGINIE MORGON - CEO

1 Eurazeo: a stabilizing force

2 9 . 0 7 . 2 0 2 0

HALF YEAR RESULTS

- H 1 2 0 2 0

Virginie Morgon Chairwoman of the Executive Board

3 An € managemen Assets 3 efficient business model rd 18.5 bn party =+4% unprecedented context under t Management €116 M Fees +18% per share Net Asset €70.7 Value - 12% in an 4 H 1 2 0 2 0 - HALF YEAR RESULTS - 2 9 . 0 7 . 2 0 2 0

A leading European Private Equity house

2 9 . 0 7 . 2 0 2 0 - (1) DIVERSIFICATION Private Equity Private Debt Real Assets

OF BUSINESSES (71% of AuM) (23% of AuM) (6% of AuM)

HALF YEAR RESULTS - €18.5 BN OF Investment partners’ AuM (70% of Assets under Management)

ASSETS UNDER H 1 2 0 2 0 MANAGEMENT Equity (30%)

EXPERT TEAMS Fundraising CSR International Corporate SERVING THE GROUP teams policy network teams

1) Including Private Funds 5 A multi-sector specialist with a diversified economic exposure

DIGITAL RETAIL HEALTHCARE FINANCIAL SERVICES

Shareholder 2 9 . 0 7 . 2 0 2 0

or finance - provider to 430

SMART CITIES REAL ESTATE BUSINESS SERVICES MANUFACTURING HALF YEAR RESULTS

companies(1) - H 1 2 0 2 0

1) Of which 2/3 through equity investments and 1/3 financed through private debt 6 Asset Management: Asset Management: 1.4% blended management fees 1.4% management blended 10 + years 1 98% of closed High High value Extended duration No riskof early redemption - added business - 2 of years extension for PE - end funds end – long long visibility a fast growing Earnings fees&FeeManagement FY 2017PF 144 36 (“FRE”) growing fast (“FRE”) FY 2018PF 173 business Management Management 47 fees 215 FY 2019 - Related 59 FRE LTM June 2020 232 69 + + 30 23 pa pa % % 7 H 1 2 0 2 0 - HALF YEAR RESULTS - 2 9 . 0 7 . 2 0 2 0 Adequate financing of our Group companies

Cautious financial structure of PE portfolio going into the crisis(1)

Almost all portfolio companies had 2 9 . 0 7 . 2 0 2 0

adequate liquidity and financing - opportunities going into the crisis Eurazeo Eurazeo Buyout Buyout PME Capital Europe(2) US(2) Limited financial support needed : ▪ Enhance liquidity with limited capital

injections: Nest NY and Sommet Education HALF YEAR RESULTS

▪ Financial restructuring and new financing - in WorldStrides to preserve the asset

c.2% of NAV in total to be spent to H 1 2 0 2 0 support our portfolio companies 4.0x 4.5x 5.0x 5.5x 6.0x

1) Net debt / EBITDA end 2019 2) Sector 2 year average Net Debt/EBITDA of LBO. Source: Pitchbook 8 Private Debt: a robust activity with positive outlook

Net Debt / EBITDA of portfolio companies

Eurazeo Direct Leveraged Buyout Buyout Lending(1) Loans(1) Europe(2) US(2) Resilient debt portfolio going into the

crisis: companies with low leverage 2 9 . 0 7 . 2 0 2 0

and high equity contribution -

4.0x 4.5x 5.0x 5.5x 6.0x All portfolio companies have adequate liquidity and financing opportunities

Default rate Acceleration of banks retrenchment, HALF YEAR RESULTS leaving opportunities for alternative - European Leveraged lenders with flexible and innovative Loan Index Eurazeo tools (private debt, sale & leaseback, H 1 2 0 2 0 Direct Leveraged Average Average quasi equity…) Lending(3) Loans(3) since 2013(4) since 2007(4)

0% 1% 2% 3% 1) Net debt / EBITDA end Q1 2020 for current and exited companies 2) Sector 2 year average Net Debt/EBITDA of LBO. Source: Pitchbook 3) Annualized default rate since inception: direct lending created in 2007, leveraged loans in 2013 4) Source: Global Leveraged Lending Report 2020, average default rate until H1 2020 9 Bringing our legal, financing, HR, IT and other operational expertise to our companies

Direct Group support from investment Digital platform to connect the management professional, operating partners and senior of our portfolio companies and share best

support functions practices

2 9 . 0 7 . 2 0 2 0 -

HR: health & safety measures, furlough / state aids,…

Financial controlling: cost control, business plans

sensitivity analyses, reprioritization of investments, HALF YEAR RESULTS insurance claims… -

Cybersecurity: additional resources to cope H 1 2 0 2 0 with increased risk

Financing: cash flow reforecasts, support on state guaranteed loans when needed, renegotiations…

10 An ESG role model with positive implications

A Private Equity leader in ESG Our long-standing ESG commitment is aligned with social aspirations of business today

In the 5 leading ESG benchmark indices 2 9 . 0 7 . 2 0 2 0 Supply chain resilience -

Essential / useful products

and services for Society

HALF YEAR RESULTS - Measuring socio-economic impact of our activity Social responsible

and accountable governance H 1 2 0 2 0 100% of due diligence incorporate a ESG Section Anticipation of “black-swan” risks 100% of companies have ESG roadmap and reporting

11 Resilient Net Asset Value

2 and robust balance sheet

2 9 . 0 7 . 2 0 2 0

HALF YEAR RESULTS

- H 1 2 0 2 0

Philippe Audouin Directeur Général Finances - CFO

12 € managemen Assets 18.5 bn under t Key figures Management €116 M Fees +18% H1 2020 per share Net Asset €70.7 Value - 12% ( attributable owners to of Consolidated Consolidated - net income €390 M the the Company ) 13

H 1 2 0 2 0 - HALF YEAR RESULTS - 2 9 . 0 7 . 2 0 2 0 resilience in the crisis crisis in the resilience Eurazeo’s income limitedor exposure to high a level of recurring Staples, digital platforms, solar plants Little impact expected in the short term due to the consequences Category 1 asset management of the pandemic activities and Group’s diversified portfolio as a resultas a of the economic hospitality schools, clinics impacted by the lockdown B2B commercial real estate Companies indirectly and residential and Category 2 service environment companies , Companies directly impacted by the widespread lockdown but expected to recover activities or receiving activities or receiving the lockdown islifted providing consumerproviding C Category 3 fairly quickly once ompanies provides the public directly by the widespread lockdown, Companies directly impacted whose business recovery isexpected to be more to Travel Leisureand Companies exposed Category 4 gradual 14

H 1 2 0 2 0 - HALF YEAR RESULTS - 2 9 . 0 7 . 2 0 2 0 Economic revenue (% of previous year) (% of Economic revenue previous Category 1 Category A rapidrevenue: in recovery 100% 120% 60% 40% 80% 20% 0% Jan - 3 : 3 Eurazeo Feb back to pre Category Growth 1 (not : >60% Mar Category included - in r evenue 2 crisis revenues in June in revenuescrisis economic Category revenue) growth Apr 3 in in H1 H1 2020 Category May 4 Jun 15

H 1 2 0 2 0 - HALF YEAR RESULTS - 2 9 . 0 7 . 2 0 2 0 Category 1 Category EBITDAeconomic Resilient growth Economic EBITDA growth Category 256 - 3: +5 % +5% in H12020 +5% in 269 1 - 3 H1 2019 PF 2019 H1 Category 181 - 135 - 4 63 % H1 2020 H1 Totalportfolio 437 - 53 206 % 16

H 1 2 0 2 0 - HALF YEAR RESULTS - 2 9 . 0 7 . 2 0 2 0 Contribution of Contribution the Contribution of the Investment Activity Operating expenses other & Impairments and other investment revenue Net capital gains losses or & dividends €MIN (2) 2) Operating expenses: transaction costs, calculated management fees on on fees management calculated costs, transaction expenses: Operating Investment Activity H12019 PF 191.6 248.6 - - 56.6 0.3 Eurazeo Growth Eurazeo Moncler: Neovia: balance sheet (€35 m) (€35 sheet balance on Eurazeo calculated share costsIncl. of including (1) : Eurazeo €57 m €57 m €54 m €83 balance sheet and Group general management & listing costs (less than 10% of total costs)total 10%of than (less costs listing & management general Group and sheet balance 1) Change in fair value of valuefair in Change - - H12020 - 388.8 417.0 77.4 49.1 Eurazeo Growth companies passed through the P&L the through passed companies Growth WorldStrides: Growth Eurazeo balance sheet (€41 (€41 m) sheet balance on calculated Incl. share costs of including Eurazeo (1) : €333 m €333 €71 m €71 17

H 1 2 0 2 0 - HALF YEAR RESULTS - 2 9 . 0 7 . 2 0 2 0 Contribution of Contribution the Contribution of the Asset Management Activity Performance Fee Finance costs and other income Operating Management €MIN Related • • • • calculated from calculated Eurazeo from balance sheet from expenses investment investment Earnings fees fees from , realized (1) Eurazeo Eurazeo balance (FRE) partners partners sheet Asset Management Activity 1) Including 100% costs of costs100% Including Eurazeo H12019 PF (less - 67.6 49.5 18.2 79.2 98.6 - 46.9 35.1 63.5 Eurazeo 1.3 2.6 Group general management & listing costs), listing & management general Group H12020 116.1 - 40.6 12.3 28.2 87.1 - 10.3 41.3 74.8 0.7 2.0 Idinvest , iM Global Partner and Partner Global prorata of Rhône, MCH Private Equity Private MCH Rhône, of +56% - +10% +18% 40% +18% +18% n.s n.s n.s n.s % . . . . 18

H 1 2 0 2 0 - HALF YEAR RESULTS - 2 9 . 0 7 . 2 0 2 0 P&L, Attributable Company the Attributable of to owners Consolidated Non Income Amortization of contracts and other assets relating Contribution of the toManagement Asset Activity goodwill allocation Contribution of Investment the Activity net of companies finance Contribution of portfolio costs Adjusted Adjusted IN €M - recurring tax EBITDA, EBITDA, EBIT, expense to non net net under items consolidated consolidated income - controlling /( loss ) interests IFRS standards H12019 PF 192 192 127 164 246 368 - - - 68 29 63 33 98 H12020 - - - - - 390 641 389 135 251 224 - - 41 89 24 93 83 owEuropcar: owWorldStrides : - - €118 m €163 m 19

H 1 2 0 2 0 - HALF YEAR RESULTS - 2 9 . 0 7 . 2 0 2 0 (ow €400M from(owRCF) €400M Cash position € 587m Gross Strong Strong financial (ow €400M drawn) (ow €400M Credit Facility €1.5 bn Revolving Revolving situation € 4.0 bn powder Dry 20

H 1 2 0 2 0 - HALF YEAR RESULTS - 2 9 . 0 7 . 2 0 2 0 in €m AuM December 2019 31, : 18,785 12,468 6,317 €18.5 bn Fundraising 1,123 0 & Dividends,& SBB Net Net value asset Distribution - - 315 33 3 rd party party asset valueasset Change inChange - - 754 266 AuM Others - 105 34 18,469 June 30,June 2020 12,905 5,564 21

H 1 2 0 2 0 - HALF YEAR RESULTS - 2 9 . 0 7 . 2 0 2 0 Group asset rotation in H1 2020 Total

908 Amount Amount in €m in €m

578 of which:

- Venture: €205 m 2 9 . 0 7 . 2 0 2 0

- Growth: €188 m - - Private funds: €153 m

429

HALF YEAR RESULTS -

212 188 154 H 1 2 0 2 0 313 Permanent 54 63 capital 73

Investments Exits Private Equity(1) Private Debt Real Assets Investments Exits

1) Including Private Funds 22 Seizing bolt-on acquisition opportunities

3C, another strategic M&A for Planet A platform strengthened Payment to consolidate value chain by multiple acquisitions

Planet + 3C payment Power plants capacity

(in MW) 2 9 . 0 7 . 2 0 2 0 - Tax refund Gateway x1.4 567

Dynamic Currency in 6 months Conversion (“DCC”) 420

Online & physical PoS x2 HALF YEAR RESULTS

Processing & Acquiring terminal services - H 1 2 0 2 0 x2 212 New end-markets (hospitality, parking, food & beverage) for Planet to deploy existing payment services 111 A more balanced exposure between international travel and domestic expenditure business

A mix revenue generator of transaction volumes and recurring fees 2017 2018 2019 2020 (June) Organic capacity M&A added capacity 23 Resilient portfolio: portfolio: Resilient NAVshare per Total Group Net cash and other items Total portfolio Category Resilient Category Category Category Net value asset (in €M) 4 3 2 1 portfolio stability ofc.90% of NAV FY2019 €80.3 5,983 4,685 6,317 1,298 1,592 2,430 334 664 €70.7 H12020 5,473 4,904 5,564 1,585 2,716 569 603 92 % of of % NAV 100% 99% 89% 10% 11% 29% 49% 1% value value - - 11.9% - 12.5% Effective Effective 11.9% creation - - 56% 14% +4% - 0% 1% (%) 24

H 1 2 0 2 0 - HALF YEAR RESULTS - 2 9 . 0 7 . 2 0 2 0

3 Accelerating growth

2 9 . 0 7 . 2 0 2 0

HALF YEAR RESULTS

- H 1 2 0 2 0

Virginie Morgon Chairwoman of the Executive Board

25 Harnessing the power of Digital

Leader in Europe Digital Spreading digital and tech

on Venture and Growth / Tech in our portfolio

2 9 . 0 7 . 2 0 2 0 -

>€4 bn in tech companies since Creation of a Digital inception Assets Under committee at group level

One of the strongest Management Digital roadmap built for all HALF YEAR RESULTS

current portfolio in Europe group companies -

Outstanding track-record Digital platform to connect H 1 2 0 2 0 of value creation venture/tech companies to other companies in the portfolio

26 Eurazeo Growth, strengthened outlook in a more digital world

Strong track record and an ongoing 16% of Eurazeo’s Net Asset Value2 promising portfolio

IRR IRR

(Exits1) (all portfolio1)

2 9 . 0 7 . 2 0 2 0 - Eurazeo Growth Fund I

(Vintage 2004) 27% 25%

HALF YEAR RESULTS - Eurazeo Growth Fund II

(Vintage 2015) 36% 21% H 1 2 0 2 0

Eurazeo Growth Fund III (launched in 2020) +11% value creation in H1 2020

1) IRR as of March 31, 2020 2) As of June 30, 2020 27 Our ability to support digitization is crucial in the world to come

Digitizing Process E-learning Telemedicine Data analysis

sales optimization

2 9 . 0 7 . 2 0 2 0 -

Digital pivot Digital pivot Digital pivot Digital pivot Digital pivot HALF YEAR RESULTS -

E-commerce revenue Converting product 4,400 new online 32,000 doctors Data analysis x2 or x3 during demonstration courses created enrolled on purchasing habits lockdown to online and >800k patients for vendors H 1 2 0 2 0 High attendance in teleconsultations From c25% to 40% Webinars with more of e-commerce in mix than 1,000 contacts from 1,000 to 100,000 online in 45 countries teleconsultations (DORC) per day in 1 month (2.5 M in total)

28 Preparing for the post-crisis by staying loyal to our values

Three new flagship commitments 2 9 . 0 7 . 2 0 2 0 1 Prepare for high performance in a low carbon economy: -

target of net zero emissions by 2040 HALF YEAR RESULTS 2 Contribute to the emergence of an inclusive society: -

gender equality, sharing value-added H 1 2 0 2 0

3 Commit all our companies to a CSR improvement approach

29 Uninterrupted fundraising despite Covid-19 slowdown

Amount raised Full year Half year in €m

2,432

2 9 . 0 7 . 2 0 2 0 -

1,548 1,239 1,123

x1.4 HALF YEAR RESULTS -

(Private Equity) H 1 2 0 2 0

2018 2019 HY 2019 PF HY 2020

Private Equity Private Debt Real Assets

1) Proforma for the final closing of Eurazeo Capital IV closed in July 2019 30 A strong fundraising pipeline

Fundraising pipeline

Eurazeo Capital V Eurazeo PME IV

Eurazeo Brands II 2 9 . 0 7 . 2 0 2 0 - Venture (IDF IV) Private Equity Eurazeo Growth III Smart City (Venture)

Eurazeo China Acceleration Fund HALF YEAR RESULTS

MCH - Rhône

Secondary Fund IV H 1 2 0 2 0

Real Assets Eurazeo Patrimoine III

Private Debt Several Private Debt funds (Private debt, Senior Debt, Sale & Leaseback, …)

31 RELEVANCE OF OUR ENLARGED AND DIVERSIFED

1 PLATFORM IN A POST - COVID WORLD 2 9 . 0 7 . 2 0 2 0 What we want - STRONG TRACK RECORD CREATING LONG - T E R M

you to retain: 2 VISIBILITY AND RECURRING EARNINGS HALF YEAR RESULTS 3 take-aways -

ROBUST FINANCIAL POSITION AND DRY POWDER H 1 2 0 2 0 3 TO SEIZE OPPORTUNITIES

32 6 Appendices

33 Assets under Management

in €M 31/12/2019 30/06/2020 NAV 3rd party AuM Total AuM NAV 3rd party AuM Total AuM Private Equity, Eurazeo 4,211 7,029 11,240 3,694 6,941 10,635 Capital 2,850 1,273 4,124 2,169 1,157 3,326

PME 410 364 774 357 382 739 2 9 . 0 7 . 2 0

Growth 684 565 1,249 897 431 1,328 –

Brands 259 - 259 255 - 255

Venture 8 2,263 2,271 16 2,220 2,236

Private Funds - 2,564 2,564 - 2,751 2,751

Private Debt 13 3,648 3,661 15 3,988 4,003 HALF YEARLY RESULTS

Real Assets (Eurazeo Patrimoine) 760 67 826 731 55 786 – Rhône1(30%) - 1,529 1,529 - 1 725 1,725

MCH Private Equity (25%) - 194 194 - 195 195 H 1 2 0 2 0 Asset Management2 999 - 999 1,034 - 1,034 Net cash and other items3 334 - 334 92 - 92 Total 6,317 12,468 18,785 5,564 12,905 18,469

1) Including Private Equity and Real Assets 2) Equity value for Eurazeo Group of Idinvest, Rhone, MCH, IMG and Eurazeo’s GP fund management activities 3) Including Eurazeo’s commitment as LP outside the Group 34 Net asset value evolution in H1 2020

Value creation

-24% -13% +11% -4% -3% -4% 2 9 . 0 7 . 2 0 –

2 169

HALF YEARLY RESULTS –

897 1 034

731 H 1 2 0 2 0 357 255 Capital PME Growth Brands Patrimoine AssetDevelopment Management activities

Non-listed assets in NAV > 97%

35 Solid financial structure

Cash position Eurazeo SE in €m

2 9 . 0 7 . 2 0 – -313 400

587 533 533 33

HALF YEARLY RESULTS – 293 260

187 187 187 H 1 2 0 2 0

31 Dec. 2019 Proceeds & dividends Investments & Share buy-backs Others Net cash Partially drawn Available cash received Reinvestments 30 June 2020 credit line facility 30 June 2020

Shareholders’ equity: €4.5 bn

36 Portfolio economic revenues & economic EBITDA in H1 2020

in €m

-25% -53% -30% -64% -9% -5% -19% -39% +5% n.s. 2 9 . 0 7 . 2 0 2,240 –

1 496

HALF YEARLY RESULTS

– H 1 2 0 2 0 464 250 116 206 57 36 29 -3

Eurazeo Capital Eurazeo PME Eurazeo Patrimoine Eurazeo Brands Economic Economic Revenue EBITDA

Economic Revenues Economic EBITDA 37 Constant Eurazeo scope A long-term shareholder base & a strong corporate governance A strong corporate governance 3.6% 2.5% Treasury 3.5% Rhône Shares Richardson Partners Separation of the roles

Family of Chairman and CEO

2 9 . 0 7 . 2 0 – Independence 16.8% of the Supervisory Board: Michel David 7 independent members out Weill Concert of 13(2)

Shareholding HALF YEARLY RESULTS Audit Committee, Finance – 55.6% Committee, Compensation structure (1)

Free float and Appointments Committee, H 1 2 0 2 0 As of June 30, 2020 CSR Committee Existence of shareholder 18.0% agreements between main JCDecaux Holding SAS shareholders and Eurazeo

1) Including Tikehau (6.6%) 2) Excluding honorary chairman, 2 representing employees and 2 non-voting members 38 Financial Agenda

November 17, 2020 March 11, 2021 20 May, 2021

3rd Quarter 2020 Revenues 2020 Annual Results 1st Quarter 2021 Revenues 2 9 . 0 7 . 2 0

Investor Day –

HALF YEARLY RESULTS

– H 1 2 0 2 0

1) Including re-investments and partial exits 39 About us EURAZEO CONTACTS ANALYST COVERAGE Investor relations CM-CIC Alexandre Gérard Pierre Bernardin Haojing Pan Exane BNP Paribas Mourad Lahmidi [email protected] [email protected]

Goldman Sachs Matija Gergolet / David Peat 2 9 . 0 7 . 2 0 +33 (0)1 44 15 16 76 +33 (0)1 44 15 89 36 HSBC Pierre Bosset –

Jefferies Matthew Hose

EURAZEO SHARES JP Morgan Cazenove Christopher Brown

Kepler Cheuvreux David Cerdan HALF YEARLY RESULTS

ISIN code: FR0000121121 Indices: – Oddo Geoffroy Michalet Bloomberg/Reuters: RF FP, Eura.pa SBF120 DJ EURO STOXX H 1 2 0 2 0 Société Générale Patrick Jousseaume Share capital DJ STOXX EUROPE 600 as of Dec 31, 2019: 78,645,486 MSCI NEXT 150 Bank of America Elizabeth Miliatis Statutory threshold CAC MID&SMALL declarations 1% CAC FINANCIALS Berenberg Christoph Greulich

www.eurazeo.com 40 Disclaimer

CONFIDENTIALITY This presentation (the “Presentation”) has been prepared by Eurazeo. This presentation may not be distributed, published or reproduced, in full or in part, and the information contained herein must not be released by its recipients to third parties. The recipients of this Presentation undertake not to use the information received hereby for purposes other than those for which the information was communicated to them.

REGULATION

Eurazeo SE is a company listed on Euronext Paris. The recipients of information acknowledge having read and understood the provisions of applicable securities laws and market regulations relating to the use of inside information, and in particular of EU Market Abuse Regulation (Regulation (EU) 596/2014 of the European Parliament and of the Council dated 16 April 2014) as well as article L.465-1 of the French Monetary and Financial Code. The recipients of information acknowledge moreover that some of the confidential information contained in the Presentation may be regarded as inside information within the meaning of such securities laws and market regulations relating

to the use of inside information. 2 9 . 0 7 . 2 0

The recipients undertake, in their name and on behalf of the companies of their group, to comply with applicable securities laws and market regulations. –

DISCLAIMER

The information contained in this Presentation is provided for information purposes only. Some of the information contained in this Presentation has been obtained from published sources prepared by other parties and it has not been independently verified. Neither Eurazeo nor the group to which it belongs nor any other person assumes any responsibility for the accuracy or completeness of the information contained in this Presentation and no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of this information or opinions contained herein. The information set out herein is provided as of the date of the Presentation and Eurazeo is under no obligation to update, complete, revise, verify or amend the information contained in this Presentation and/or to provide to you any previous, current or future other materials in relation to Eurazeo or its products or services. Certain statements contained in this document may be statements of future expectations and other forward-looking statements that are based on certain assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements.

No information provided in the Presentation constitutes or should be used or considered as an offer to sell or a solicitation of any offer to buy the securities or services of Eurazeo or any other issuer in any jurisdiction whatsoever. HALF YEARLY RESULTS – None of Eurazeo or any of its affiliates, advisors or representatives shall have any liability whatsoever for any loss howsoever arising from any use of this document or its content or otherwise arising in connection with this document.

UNITED STATES OF AMERICA H 1 2 0 2 0 None of the interests of funds managed by Eurazeo or any entity of its group has been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any U.S. state or other relevant jurisdiction. No such registration is contemplated. Neither the U.S. Securities and Exchange Commission nor any U.S. state or other authority or securities commission has reviewed or passed upon the accuracy or adequacy of this Presentation. Any representation to the contrary is a criminal offense. In addition, none of the funds managed by Eurazeo will be registered as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”), in reliance on one or more exclusions or exemptions therefrom. Investors in any such funds will be required to make certain representations regarding their qualifications, including that each is an “accredited investor” and a “qualified purchaser” as those terms are defined in the Securities Act and Investment Company Act, respectively. There is no public market for the interests in the funds managed by Eurazeo and no such market is expected to develop in the future. Accordingly, investors should be aware that they will be required to bear the financial risks of an investment for an indefinite period of time, including the risk of loss of their entire investment. Past performance is not necessarily indicative of future results and no guarantee can be given that the investment objectives of Eurazeo will be achieved or that investors will receive a return of capital or return on any of their capital. No representations or warranties of any kind are intended or should be inferred with respect to the economic returns or the tax consequences of an investment any fund managed by Eurazeo. This Presentation relates to investments managed by Eurazeo, which is not registered as an investment adviser pursuant to the Investment Advisers Act of 1940, as amended. As a result, the protections of such registration shall not be afforded to any investor in any fund managed by Eurazeo.

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HALF YEARLY RESULTS

– H 1 2 0 2 0