EURAZEO_REGISTRATION_DOCUMENT_2017

CONSOLIDATED FINANCIAL STATEMENTS Notes to the Consolidated Financial Statements

GENERAL PRINCIPLES NOTE 1

IFRS annual improvements (2014-2016 cycle) for IFRS 12, applicable • to fiscal years beginning on or after January 1, 2017. The principles adopted do not differ from the IFRS as published by the IASB. In addition, the Group did not opt for early application of the following standards and interpretations not of mandatory application in 2017: the amendment to IFRS 4, Applying IFRS 9, Financial Instruments • with IFRS 4, Insurance Contracts, applicable to fiscal years beginning on or after January 1, 2018; IFRS 15, Revenue from Contracts with Customers, applicable to • fiscal years beginning on or after January 1, 2018; the IFRS 15 clarification applicable to fiscal years beginning on or • after January 1, 2018; the amendment to IFRS 2, Classification and measurement of • share-based payment transactions, applicable to fiscal years beginning on or after January 1, 2018; the amendment to IAS 40, Transfers of investment property, • applicable to fiscal years beginning on or after January 1, 2018 (not adopted by the European Union); IFRIC 22, Foreign Currency Transactions and Advance • Consideration, applicable to fiscal years beginning on or after January 1, 2018 (not adopted by the European Union); IFRS annual improvements (2014-2016 cycle) for IFRS 1 and IAS 28, • applicable to fiscal years beginning on or after January 1, 2018; IFRS 16, Leases, applicable to fiscal years beginning on or after • January 1, 2019; the amendment to IFRS 9, Prepayment features, applicable to fiscal • years beginning on or after January 1, 2019 (not adopted by the European Union); the amendments to IAS 28, Long-term interests in Associates and • Joint Ventures, applicable to fiscal years beginning on or after January 1, 2019 (not adopted by the European Union); IFRIC 23, Uncertainty over income tax treatment, applicable to fiscal • years beginning on or after January 1, 2019 (not adopted by the European Union); IFRS annual improvements (2015-2017 cycle), applicable to fiscal • years beginning on or after January 1, 2019 (not adopted by the European Union); IFRS 17, Insurance contracts, applicable to fiscal years beginning on • or after January 1, 2021 (not adopted by the European Union); IFRS 14, Regulatory Deferral Accounts, applicable to fiscal years • beginning on or after January 1, 2016 (the European Commission has decided not to launch the adoption process for this standard considering it transitional); the amendments to IFRS 10 and IAS 28, Sales or contributions of • assets between an investor and its associate/joint venture, (postponed by the European Union to an undefined date). Eurazeo is currently determining the potential impacts of these new standards and standard amendments on the Group’s consolidated financial statements. The Group has not currently identified a significant impact of the adoption of IFRS 15. The Group has set up working groups in each of the investments to assess the impact of the adoption of IFRS 16. Contracts falling within the scope of this new standard were identified and an initial analysis of the impact on the financial statements and the information systems performed. The main expected impacts concern the recognition of real estate assets in the consolidated balance sheet, as well as the corresponding debt and interest.

The consolidated financial statements were authorized for publication by the Eurazeo’s Executive Board on March 5, 2018. They were reviewed by the Audit Committee on March 6, 2018 and by the Supervisory Board on March 8, 2018. The consolidated financial statements include the financial statements of Eurazeo and its subsidiaries and associates, for the year to December 31. In the case of subsidiaries or associates with fiscal years ending on a date other than December 31, the consolidated financial statements use accounts covering the period from January 1 to December 31. The financial statements of all subsidiaries and associates accordingly cover the same period as those of the parent company and are prepared in accordance with IFRS. Adjustments are made to bring into line any differences in accounting policies that may exist. financial statements Except for the impact of the early application of IFRS 9, the accounting policies used to prepare the consolidated financial statements are compliant with IFRS standards and interpretations as adopted by the European Union on December 31, 2017, and available on the website: http://ec.europa.eu/finance/company-reporting/ standards-interpretations/index_en.htm. Eurazeo applied IFRS 9, Financial Instruments, early with effect from January 1, 2017. IFRS 9 introduces new requirements regarding: the classification and measurement of financial assets and financial • liabilities: overall, the classification of financial assets in IFRS 9 categories • did not impact their respective measurement bases. The only impact concerns the presentation of fair value gains and losses on equity instruments classified at fair value through other comprehensive income, which can no longer be reclassified to profit or loss. This was possible under IAS 39. The Group has therefore designated all its investments in equity instruments at fair value through profit or loss; financial asset impairment: • no adjustments were made to the value of financial assets as • provision estimates based on known losses are close to estimates of expected losses; hedge accounting: • all existing hedging relationships are considered to be • maintained and remain in effect. The consolidated financial statements are prepared on an historical cost basis, except for investment properties, derivative financial instruments and financial assets which are measured at fair value. The financial statements are presented in euros, with thousands omitted. The accounting principles adopted are consistent with those used to prepare the annual consolidated financial statements for the year ended December 31, 2016, except for the adoption of IFRS 9 and the following standards which are of mandatory application for fiscal years beginning on or after January 1, 2017. These standards did not have an impact on the financial statements for the year: the amendments to IAS 12, Recognition of Deferred Tax Assets for • Unrealized Losses, applicable to fiscal years beginning on or after January 1, 2017; the amendments to IAS 7, Disclosure initiatives, applicable to fiscal • years beginning on or after January 1, 2017; Basis of preparation of the consolidated 1.1

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Eurazeo

2017 Registration document