Eurazeo / Shareholder's Letter (june 2019)

VIEWPOINT by Michel David-Weil, Chairman of the Supervisory Board

Combining the best of two worlds

TAKEAWAYS FROMTHE SHAREHOLDERS’ MEETING R Adoption of all resolutions: further details on our website.

In keepingwith its history, our company has broadened its horizons and accelerated its international growth strategy. These changes were required to deal with an increasingly complex environment and meet our objective: create more and more value for our shareholders.

Ordinary dividend of €1.25 per share. One bonus share for 20 shares held.

R

R

2018 was a particularly significant year for Eurazeo”

R Renewal of the term of office of Françoise Mercadal-Delassale, CEO of Crédit du Nord.

In an uncertain environment, private equity has enjoyed steady growth, combined with increasing demands from investors. This is both a challenge and an opportunity for Eurazeo, which has focused its approach on responsibility and developed a tailored model. Our company, attentive to the needs of both

of the relationship with the Decaux family and the bond between the Supervisory Board and the management team. These strengths make me confident in the future, and there is no better illustration than the strong momentum in 2019 1

its shareholders and its investors, has taken the initiative and added new businesses and talents to combine the best of two worlds: an entrepreneurial spirit with no structural debt and management results that ensure recurring income. 2018 also confirmed the quality

ANALYSIS by Philippe Audouin, Directeur Général Finances

Solid performances, driven by the transformation of companies

In2018, Eurazeopostedexcellent results,whichsupport our investment strategy: accelerate thegrowthof our companies and improve their performance. From a stock market perspective, 2018 was a year of consolidation, following a record- breaking 2017 when our share clearly outperformed. Despite the market correction, Eurazeo continues to achieve long-term returns for its shareholders that exceed stock market benchmark comparables and indexes (over 5 years, 18% versus 8% for the CAC 40) 1

SOLID RESULTS:

R Economic revenue increased by 11% .

6.2 % Average annual Eurazeo dividend growth over the last 17 years.

R NAV growth of 5.7% including dividends (+ 11% for Eurazeo Capital (excluding listed assets), + 16% for Eurazeo PME, + 21% for Eurazeo Patrimoine and + 36% for Eurazeo Croissance). R In 7 years, Eurazeo has more than quadrupled its assets under management, from €4 billion to €17 billion.

To find out more: watch our 2019 Shareholders’ Meeting in full at www.eurazeo.com

EN ACTION - June 2019