INVESTOR PRESENTATION - May 2021 - Eurazeo
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INVESTOR PRESENTATION May 2021
EURAZEO
1 IN A NUTSHELL
RECENT
Agenda 2 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
PRIVATE
20%2 6%2
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 PrivatePrivate
Funds 100%
Eurazeo Brands 100% Capital 28% 72%
(2014) Capital IV Funds
IV
Brands Eurazeo
Eurazeo Private
Real(2017)
Assets 100% PMEIIIIII 38% 62% Private Debt
Debt 99%
PME
Eurazeo
Infrastructure Under Eurazeo
Infrastructure
(Q1 2021)
Growth
Growth III
75% 25% Venture 99%
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%
x3 7%
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
A+ CLIMATE
− 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
€255
NET CASH m
position1
€1.5 bn
REVOLVING
credit facility
€3.7 bn
DRY
powder
1 Net cash position proforma as of March 31, 2021 INVESTOR PRESENTATION11
RECENT
02. DEVELOPMENTS
INVESTOR PRESENTATION2020, 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 PRESENTATIONSTRONG 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
2019 2020 2021e Real assets
2019 2020 2021e
Total YTD1 Amount to be raised Brands
1 As of May 14, 2021 INVESTOR PRESENTATIONSTRONG 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
+1%
+20%
c.+61% electronic-payments following
acquisition of 3C
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 PRESENTATIONA DYNAMIC INVESTMENT ACTIVITY YTD 1 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 Premium
services certification
products petfood
a major build-up
1) Selection of representative investments signed on balance sheet as of May 14, 2021 INVESTOR PRESENTATIONDELIVERING 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
€280m
proceeds of
40-50% €340m
€70m gross IRR 3rd party commitment
In progress
on strategy
x2.8
CoC
x2.1
CoC
x2.0 €215m
CoC1 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 PRESENTATION17
LONG-TERM
03. GROWTH
INVESTOR PRESENTATIONEURAZEO’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
7.0x Moncler2 Moncler2 Asmodee
6.7 Farfetch
>€150m
4.0x 4.6 4.1 4.0 4.1
Terreal Mors Smitt1
Vignal C2S
3.5x 3.5 3.5
Flexitallic
3.4 Lighting1
Group1 3.2
ANF
3.0x Fraikin Immo.2 2.9 Rexel3
Foncia
Colisée1 ANF 2.8 2.8
Elis2 iM
2.8 IMV Smile1-2 Iberchem €100–150m
Immobilier2
2.5x 2.4 Tech.1 Accor2 Cap Vert
2.4 2.5 PeopleDoc Global Trader2
2.4 2.3 Elis2 2.3
2.2 Finance1 2.3 2.3 2.4
2.2
2.1 Moncler2 2.1 2.1
2.0x 2.0 2.0 2.0 2.0 CIFA
Eutelsat B&B Gault &
1.8 1.9 1.9 1.9
1.5x Frémont1 1.7 1.7 Odealim1 €50–100m
Edenred 1.4 Neovia 1.5
Accor2
1.0x Intercos 1.2 Elis2 Europcar2
Léon de
Europcar2
Desigual Bruxelles Europcar2
0.7 APCOASHORT-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 PRESENTATION20
04. OUTLOOK
INVESTOR PRESENTATIONON TRACK TO DOUBLE OUR AUM WITHIN 5-7 YEARS1 21
+ POSITIVE
MARKET OUTLOOK
FOR PRIVATE CAPITAL
DOUBLING
AUM
202X
+
in 5-7 years
ACCELERATING
FUNDRAISING
+ SCALING UP
INVESTMENT DIVISIONS
2020
+ OPTIMIZING
OUR BALANCE SHEET
2017
1. Announced in November 2020 INVESTOR PRESENTATIONSTRONG 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
+22% +33% >+60%
€2.8/sh €4.6/sh
€2.7
/share +31%
€2.5/sh
A favorable market
for exits
2016 2017 2018 2019 2020
INVESTOR PRESENTATIONREGULARLY 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 PRESENTATIONKey
24
SCALING UP − Further fundraising
OUR INVESTMENT growth in 2021-2022
DIVISIONS
takeaways
GROWING − Increase shareholder
RECURRING remuneration
/ dividend
EARNINGS
− Ambitious exit
INCREASING program in 2021
and 2022
NET ASSET
− Portfolio development
VALUE
INVESTOR PRESENTATION25
APPENDICES
INVESTOR PRESENTATIONASSETS 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. -1%
Asset Management2 1,440 - 1,440 1,440 - 1,440 43% 0%
Net cash and other items3 -271 - -271 -274 - -274 n.s. 1%
Total 6,746 15,015 21,760 6,759 15,972 22,732 21% 4%
1 Including Private Equity and Real Assets. 2 Equity value for Eurazeo Group of Idinvest, Rhône, MCH, IMG and Eurazeo’s GP fund
management activities. 3 Including Eurazeo’s commitment as LP outside the Group INVESTOR PRESENTATIONHIGH VALUE ADDED: PRIVATE EQUITY 74% OF AUM 27
REAL ASSETS
Real Estate PRIVATE EQUITY (€15.9BN; 74% AUM)
Infrastructure
− 1.7% average management fee1
− 20% performance fee
PRIVATE − Fee paying AUM based on commitment
DEBT
Mid-large PRIVATE DEBT (€4.4BN; 20% AUM)
€22.7bn2 buyout
BUYOUT
− 0.8% average management fee1
− 10% performance fee
ASSETS UNDER − Fee paying based on Invested Capital
Small-mid
MANAGEMENT buyout
Brands REAL ASSETS (€1.3BN; 6% AUM)
PRIVATE
Healthcare − 1.4% average management fee1
FUNDS
ACCELERATION − Performance fees depending on sub-segment
Growth
VENTURE
1.4% AVERAGE MANAGEMENT FEE RATE
Cash and Asset Management are not included in percentage of AUM
1) Calculated on Fee Paying AUM
2) As of March 31, 2021 INVESTOR PRESENTATIONEURAZEO’S NET ASSET VALUE IS WELL EXPOSED 28
TO THE MOST PROMISING SECTORS
Real Assets
(15%) TRANSVERSAL
FOCUS ON:
Asset (% of NAV)
Management
(21%)
€6.8bn1 32% TECH
Others Net Asset Value
Acceleration
Buyout
(44%) 17% HEALTHCARE
(20%)
1) Assets not revalued on a quarterly basis INVESTOR PRESENTATIONCONTINUING OUR FAST REVENUE EXPANSION 29
FROM ASSET MANAGEMENT
MANAGEMENT FEES1
98 %
(in €m)
243
216
186 OF AUM IN CLOSED-END FUNDS
144 +13% No risk of early redemption
FY 2017 PF FY 2018 PF
FRE MARGIN
FY 2019 PF FY 2020
6-10 YEARS + POTENTIAL EXTENSIONS
Long-term visibility
80 (in €m)
+18% 70 34.0%
60 59 32.0%
47
1.4 %
36 29% 30.0%
40
28%
26% 28.0%
20 25% 26.0%
BLENDED MANAGEMENT FEES
0 24.0% High value-added business
FY 2017 PF FY 2018 PF FY 2019 PF FY 2020
FRE (€m) FRE margin 1 Management fees paid by third party and calculated on balance sheet INVESTOR PRESENTATIONP&L, UNDER IFRS STANDARDS 30
In €m 2019 PF 2020
Fee Related Earnings (FRE) 59 70
Performance Related Earnings (PRE) 65 50
A. Contribution of the Asset Management Activity 125 120
B. Contribution of the Investment Activity 100 191
C. Contribution of portfolio companies net of finance costs 229 -139
Amortization of contracts and other assets relating to goodwill allocation -207 -204
Income tax expense -8 -21
Non-recurring items -135 -236
Consolidated net income/(loss) 103 -289
ow Europcar1: -€237m
Attributable to owners of the Company 99 -160 ow WorldStrides : -€140m
1
Attributable to non-controlling interests 4 -129
1 Total Group share impact including impairments, share of results and others INVESTOR PRESENTATIONCONTRIBUTION OF THE ASSET MANAGEMENT ACTIVITY 31
In €m 2019 PF 2020 %
Management fees 216 243 +12.7%
_ from 3rd party limited partners 141 163 +16.0%
_ from calculated Eurazeo Investment Activity 75 80 +6.6%
Operating expenses1 -156 -173 +10.8%
Finance costs and other income -0.4 -0.7 n.s.
Fee Related Earnings (FRE) 59 70 +17.5%
Performance fees, realized 65 50 -22.8%
_ from investment partners 3 2 -7.0%
_ from calculated Eurazeo Investment Activity 63 48 -23.5%
Contribution of the Asset Management Activity 124.6 120.1 -3.6%
Ow minority share of iM Global Partner 2.2 3.3
1 Including 100% of Eurazeo’s operating costs (less Eurazeo Group Strategic and general management costs), Idinvest, iM Global
Partner and pro rata of Rhône, MCH Private Equity INVESTOR PRESENTATIONCONTRIBUTION OF THE INVESTMENT ACTIVITY 32
In €m 2019 PF 2020
Capital gains or loss & other revenue1 474 633
Performance fees paid to Eurazeo Asset Management Activity -63 -48
Impairments -196 -264
Investment-related expenses -28 -37
Management fees paid to Eurazeo Asset Management Activity -75 -80
Investment Activity Net Return 112 204
Strategic and general management costs -13 -14
Contribution of the Investment Activity 99.8 190.9
1 Change in fair value of Eurazeo Growth companies passed through the P&L INVESTOR PRESENTATIONA EUROPEAN LEADER POWERED BY ITS WORLDWIDE 33
NETWORK
Luxembourg
Berlin
London Frankfurt
11
Paris
OFFICES
New York Madrid
internationally
Seoul
Shanghai
300 PARTNERS
Singapore
25 NATIONALITIES
at Group level* São Paulo
53% OF PORTFOLIO
ECONOMIC
REVENUES
earned outside France
Development offices Investment offices
INVESTOR PRESENTATION
*consolidated perimeterHIDDEN VALUE IS MATERIALIZED AT EXITS 34
NAV (IN €M)
B&B MORS THE MONCLER IMV GAULT CAP VERT ELIS EUROPCAR FONCIA COLISÉE
HOTELS SMITT FLEXITALLIC Exit date: TECHNOLOGIES & FRÉMONT FINANCE Exit date: Exit date: Exit date: Exit date:
GROUP Dec. 2013 Exit date: Feb. 2015 June 2015 Sept. 2016 July 2017
Exit date: Exit date: Exit date: Exit date:
Sept. 2010 June 2012 Exit date: Dec. 2014 Dec. 2014 July 2015 359
+11%
July 2013 1,066 +41%
+98% 469
+52% 979 +15% 963
184 621
+26%
145 541 +39%
334
+55% 123
121 115 50
+47%
22 495 +55% 89
+44% 16 32 496
15 11 707
709 11
8
ODEALIM ASMODEE NEOVIA PEOPLEDOC DESIGUAL FARFETCH VIGNAL SMILE IBERCHEM C2S TRADER
Exit date: Exit date: Exit date: Exit date: Exit date: IPO date: LIGHTING Exit date: Exit date: Exit date: INTERACTIVE
Oct. 2018 Oct. 2018 Q1 2019 July 2018 August 2018 Sept. 2018 GROUP H2 2019 H2 2020 H1 2021 Exit date (expected):
Exit date: H1 2021
Dec. 2018
+74% +35%
+1% 169 >70%
+66% 426 +120% 384
78
92 +59% +10%
423
+21% 83
+51%
106 282
47
97 +56% 67
41 88
52
42 44
26
Last NAV before disposal NAV as of Dec. 31 of exit year NAV as of Sept. 30, 2018 Net proceeds from disposals
INVESTOR PRESENTATIONA LONG-TERM SHAREHOLDER BASE 35
& A STRONG CORPORATE GOVERNANCE
2.3% 3.5%
3.5% Rhône Treasury A STRONG
Richardson Partners shares
family
CORPORATE GOVERNANCE
– Separation of the roles of
Chairman and CEO
16.7%
Michel David-Weill – Independence of the Supervisory
Concert Board: 7 independent members out
Shareholding of 132
structure
56.1%
Free float1 – Audit Committee, Finance
As of December 31, 2020
Committee, Compensation and
Appointments Committee, CSR
17.9% Committee, Digital Committee
JCDecaux Holding SAS
– Existence of shareholder
agreements between main
shareholders and Eurazeo
1 Including individual shareholders (c.12%) and Tikehau (6.5%).
2 Existing honorary chairman, 2 representing employees and 2 non-voting members INVESTOR PRESENTATIONSUPERVISORY BOARD 36
STRONG CORPORATE GOVERNANCE
Michel David-Weill3 Jean-Charles Decaux3 Olivier Merveilleux Roland du Luart2-4 Anne Lalou*(3)(4)
Chairman of the Supervisory Board, Vice-Chairman of the Supervisory Board du Vignaux2-3 Chairman of the Compensation Chairwoman of the CSR Committee
Chairman of the Finance Committee Joint CEO of JCDecaux Holding Vice-Chairman of the Supervisory Board and Appointment Committee Director of La Web School Factory
Current term of office expires: 2022 Current term of office expires: 2024 Manager of MVM Search Belgium Company Director Current term of office expires: 2022
Current term of office expires: 2022 Current term of office expires: 2024
Victoire de Margerie*3 Françoise Mercadal- Amélie Oudéa-Castera* Stéphane Pallez*1-4 Georges Pauget*1-2 JCDecaux Holding represented b
Principal shareholder and Chairwoman Delasalles*2-3 Chairwoman and Co-founder of the Chairwoman and Chief Executive Managing Partner of Almitage.Lda Emmanuel Russel(1)(2)(4)
of Rondol Industrie Deputy Managing Director Rénovons le Sport Français association Officer of La Française des Jeux (FDJ) Current term of office expires: Deputy Managing Director of JCDecaux Holding SAS
Current term of office expires: 2024 of Crédit du Nord Current term of office expires: 2022 Current term of office expires: 2021 2024 Current term of office expires: 2022
Current term of office expires: 2023
HONORARY CHAIRMAN NON-VOTING MEMBER NON-VOTING MEMBER
Patrick Sayer Christophe Aubut2 Vivianne Akriche Bruno Roger3 Jean-Pierre Richardson1 Robert Agostinelli(3)
Previous CEO of Eurazeo Employee representative Employee representative Chairman of Global Investment Chairman and Chief Executive Co-founder & Managing Director
Companies Director Investor Current term of office expires: 2023 Current term of office expires: 2023 Banking of Lazard Group Officer of Joliette Matériel SA of Rhône Group
Current term of office expires: 2022 Current term of office expires: 2022 Current term of office expires: 2022
*Independent member
1 Member of the Audit Committee. 2 Member and permanent guest of the Compensation and Appointment Committee. 3 Member INVESTOR PRESENTATION
and permanent guest of the Finance Committee. 4 Member of the CSR CommitteePEOPLE ARE OUR CORE ASSET 37
PARTNERS COMMITTEE: 20+ YEARS IN THE INDUSTRY
EXECUTIVE BOARD
c.300 STAFF
Virginie Morgon Philippe Audouin Nicolas Huet Olivier Millet Christophe Bavière Marc Frappier
Chief Executive Officer Directeur Général General Secretary Chairman of EMC1’s Senior Managing Partner - Managing Partner –
c.120
Finances – Group CFO Executive Board Head Investment Partners Head Mid-large buyout
INVESTMENT
PROFESSIONALS
5
Benoist Grossman Jill Granoff Frans Tieleman Sophie Flak Renaud Haberkorn
CEO of EIM2 – Managing Partner – Managing Partner - Managing Partner – Managing Partner –
Senior Managing Partner CEO, Brands Investment Partners ESG & Digital Real Assets
YEARS
Venture & Growth Europe Average tenure
Matthieu Baret
Managing Partner –
Caroline Hadrbolec
Managing Partner –
Christophe Simon
Managing Partner –
38 YEARS OLD
Average age
Venture Chief Human Resources Officer Private Funds
1 1) Former Eurazeo PME. 2) Eurazeo Investment Manager, former Idinvest Partners. INVESTOR PRESENTATIONFINANCIAL AGENDA 38
May 20, 2021 July 28, 2021 November 09, 2021
1st Quarter 2021 Half-Year 2021 3rd Quarter 2021
Revenues Results Revenues
INVESTOR PRESENTATIONABOUT US 39
EURAZEO CONTACTS ANALYST COVERAGE
INVESTOR RELATIONS
Bank of America Philip Middleton
Berenberg Christoph Greulich
Pierre Haojing
BERNARDIN PAN CM-CIC Alexandre Gérard
pbernardin@eurazeo.com hpan@eurazeo.com Degroof Petercam Joren Van Aken
+33 (0)1 44 15 16 76 +33 (0)1 44 15 89 36 Exane BNP Paribas Mourad Lahmidi
Goldman Sachs Roberta De Luca
EURAZEO SHARES
Jefferies Matthew Hose
ISIN code: FR0000121121 Indices:
JP Morgan Cazenove Christopher Brown
Bloomberg/Reuters: RF FP, Eura.pa SBF120
DJ EURO STOXX Kepler Cheuvreux David Cerdan
Share capital DJ STOXX EUROPE 600
as of Dec 31, 2020: 79,015,524 MSCI ODDO BHF Geoffroy Michalet
NEXT 150
Statutory threshold SG Patrick Jousseaume
CAC MID&SMALL
declarations 1%
CAC FINANCIALS
www.eurazeo.com
INVESTOR PRESENTATIONDISCLAIMER 40
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.
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.
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
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.
INVESTOR PRESENTATIONwww.eurazeo.com
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