Purpose & Patience

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Purpose & Patience PURPOSE & PATIENCE We aspire to be the preferred partner of entrepreneurs and families who lead growing companies by backing them with patient capital and supportive advice — Q2 2021 Edition — OUR MISSION Our goal at Sofina is to create economic value with a human approach We believe that the entrepreneurial spirit that characterises many family businesses and growth companies is a source of progress. By supporting these entrepreneurs and innovators, we intend to contribute to global growth, development and innovation. We believe entrepreneurs become successful by being competitive in a globalised market Our mission is to provide patient capital, expertise and advice to growing companies led by entrepreneurs and families. We as- pire to be their preferred partner, and have a long-term horizon that few other investors can match. Our heritage and culture are what make us unique We put human relationships at the heart of what we do. All our investments are stories of shared values, friendships and ambitious projects with talented entrepreneurs and their management teams. By continuously working in this way, we aspire to become the preferred investment partner of those sharing our beliefs and vision. 2 SOFINA - PURPOSE & PATIENCE OUR MISSION 3 KEY FIGURES Highlights EUR 10.4 BN GLOBAL SHAREHOLDERS’ EQUITY (2) REACH A FAMILY RUN 3 US EUROPE ASIA AND CONTROLLED COMPLEMENTARY Change over the last INVESTMENT COMPANY INVESTMENT 20 years (3) STYLES 10.00 9.00 8.00 7.00 6.00 FOUR FOCUS 5.00 4.00 SECTORS Long-term minority 3.00 investments 2.00 37% OF SHAREHOLDERS’ EQUITY (1) 1.00 Offices in Brussels, 0 Luxembourg and Singapore Consumer and Retail 2001 H1 2021 Sofina Private Funds – Investments in venture and growth capital funds Digital Transformation 44% OF SHAREHOLDERS’ EQUITY (1) Roots going back 30 Sofina Growth – Investments in Education investment fast-growing businesses professionals 120+ YEARS across our 15% OF SHAREHOLDERS’ EQUITY (1) 3 offices Healthcare (1) Considering the portfolio in transparency as at 30 June 2021. (2) As at 30 June 2021. (3) Since 1 January 2018, Sofina has adopted the status of investment entity in accordance with IFRS 10. Figures relating to the financial years 2016 and 2017 have been restated in accordance with IAS 28, §18 to ensure that the shareholders’ equity can be compared to that of following years. Accounting data are established in accordance with IFRS since 31 December 2004. Shareholders’ equity for the financial years prior to 2004 correspond to the estimated value of the assets. 4 SOFINA - PURPOSE & PATIENCE HIGHLIGHTS 5 MILESTONES 1898 – 2021 Founded more than 120 years ago as an engineering conglomerate, Sofina is now a listed investment company with equity holdings in Europe, the United States and Asia, across many sectors with a particular focus on Consumer and Retail, Digital Transformation, Our history Education and Healthcare. 2016 2014 First direct investment in the Fifth anniversary of the 2015 2020 2017 United States through a share- ‘Platform for Education and The Singapore office Launch of the 2018 More than half holding in Mérieux Talent’, Sofina’s Philanthropic opens and Sofina Growth Sofina Covid Exit from Flipkart of Sofina’s portfolio NutriSciences project is reinforced, mainly Solidarity Fund is invested in India, China Sir David Verey CBE outside Europe The investment team and the United States becomes Chair counts 20 professionals 2011 2005 2007 2009 Strategic move towards 2012 Partnership with the growth and more 2013 First investments Investment First investment Forestier family for the international exposure Investment in Flipkart in venture and growth in bioMérieux in e-commerce delisting of Groupe capital funds in India Count Goblet d’Alviella is Petit Forestier appointed Executive Chair 1988 Yves Boël is appointed Chair 1998 and Count Goblet d’Alviella co- 1987 1978 1975 1965-70 Managing Director First investments Investment Investment in Danone Investment in Colruyt Sofina becomes an in venture and growth in SES Reinforcement of the family investment company shareholders following the capital funds acquisition of Société Générale in the United States de Belgique’s stake 1898 1956 Foundation of Sofina 1910 Yves Boël is appointed as (‘Société Financière de First1910 investment 1938 1950s Sofina’s Managing Director Transport et d’Entreprises in a Private Initial Public Offering The Luxembourg First investment by current Since 1956, Sofina Industrielles’), an engineering Equity fund in India office opens family shareholders has increased its annual conglomerate, active in the dividend per share without energy and interruption transportation sectors 6 SOFINA - PURPOSE & PATIENCE OUR HISTORY 7 STRATEGY Our strategy Our strategy could be thought as a multi-dimensional network: by investment style, by region and by sector with incorporation of ESG criteria LONG-TERM SOFINA PRIVATE FUNDS SOFINA GROWTH – MINORITY – INVESTMENTS INVESTMENTS IN INVESTMENTS IN VENTURE AND FAST-GROWING GROWTH CAPITAL BUSINESSES FUNDS CONSUMER AND RETAIL EUROPE “Our strategy is simple. Wherever strong HEALTHCARE relationships can be created with like-minded ASIA partners as interested as we are by what makes companies grow, we will be present.” DIGITAL TRANSFORMATION US HAROLD BOËL, CHIEF EXECUTIVE OFFICER EDUCATION RESPONSIBLE INVESTOR AND SIGNATORY OF THE UNPRI 8 SOFINA - PURPOSE & PATIENCE OUR STRATEGY 9 OUR APPROACH What makes us unique WE UNDERSTAND FAMILY AND WE ONLY WE PROVIDE EXPERTISE IN OUR CORE SECTORS ENTREPRENEURIAL OUR TAKE DYNAMICS AND WORK THROUGH INVESTMENTS MINORITY FOR SUCCESSIVE GUIDANCE, HAVE A GLOBAL WE TAKE A OWNERSHIP GENERATIONS MARKET KNOWLEDGE FOOTPRINT LONG-TERM VIEW POSITIONS AND GLOBAL NETWORK AND INVEST OUR EQUITY ONLY WE ARE A PARTNER WE DO OUR THROUGH CYCLES, WE BACK ENTREPRENEURIAL AND BEST TO BE GROWING COMPANIES IN GOOD AND BAD WE ARE PRAGMATIC TIMES A RESPONSIBLE FROM START-UPS TO MATURE AND SOLUTION- INVESTOR. WE CARE FOR COMPANIES OUR COMMUNITES, OUR ORIENTED PEOPLE AND THE PLANET THROUGH OUR THREE INVESTMENT STYLES WE ARE AGILE AND HAVE A FAST WE OFFER DECADES DECISION- OF CUMULATED COMMON VISION EXPERIENCE AND MAKING THROUGH THE THREE INVESTMENT EXPERTISE IN A WIDE AND ALIGNMENT PROCESS STYLES, WE BRING OUR PARTNERS AN RANGE OF BOARD OF INTERESTS GUIDE ALL OUR INTERNATIONAL NETWORK OF DECISIONS SITUATIONS KEY DECISION-MAKERS 10 SOFINA - PURPOSE & PATIENCE WHAT MAKES US UNIQUE 11 TESTIMONIALS What our partners say... “After a partnership of more “Sofina continues to be a valuable “At a time when the methods of “Healthcare stands on the pillars of than four decades, Sofina has and supportive long term partner of education took a drastic turn, Sofina unwavering dedication, deeply seated decided to quietly but steadily THG as we consolidate our position helped us navigate through the passion, out of the box innovation sell its shareholding in Colruyt. as the leading e-commerce pure uncertain and complex environment and globalized communication. Sofina has had a very nice ride with us player and technology group in by continuously providing us with Rarely does one find these qualities and has always been very supportive, beauty and nutrition worldwide. global updates, information, analysis in investors, but we did find them in even in the 80s when there was some The support of their team has been and advice. This has kept us motivated Sofina. LYFE realizes that healthcare uncertainty about Colruyt Group’s particularly appreciated this year to provide new and innovative goes beyond borders, we have survival. Sofina even reinvested due in a context of high growth, the education services and solutions dedicated our efforts in generating to their belief and trust in us. listing of THG on the London Stock to Indian educators and students. international value for our companies Today we say goodbye to François Exchange and the realisation of The Sofina team is always there to by building bridges, Sofina has Gillet, whose mandate will not be several strategic acquisitions.” provide assistance, connect with supported and advised us in this extended. François, who has been a people in the industry or just be a endeavor. We look forward to our director with us since 1996, has always MATT MOULDING, sounding board to bounce off ideas.” long term relationship for building been a great help to me in terms FOUNDER AND CEO, THG strong human connections globally.” of support, suggestions, advice ... JAI DECOSTA, CEO, and sometimes a finger that goes K12 TECHNOSERVICES JAMES ZHAO, up: “should we be cautious of this” FOUNDING PARTNER, LYFE CAPITAL or “maybe it is worth analyzing this further”. It wasn’t always very explicit “Our partnership with Sofina is signals, but they were always spot on.” underpinned by a common operating “With its experience in long term ethos and shared values that allow us minority investments in fast growing J. COLRUYT DURING THE SHAREHOLDER to work hand-in-glove on investment businesses Sofina is an excellent GENERAL MEETING IN SEPTEMBER 2020 opportunities. We have enjoyed success partner for Collibra. With Collibra together and addressed challenging we are building a global leader in situations, but always with a similar Data Intelligence. Sofina’s strategy is frame of mind and positive orientation. perfectly aligned with our objectives. We I am certain that Highland Europe appreciate their long-term vision, their and Sofina will continue to work in advice and their worldwide network.” tandem for decades to come.” FELIX VAN DE MAELE, FERGAL MULLEN, CO-FOUNDER AND
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