EURAZEO_REGISTRATION_DOCUMENT_2017

CONSOLIDATED FINANCIAL STATEMENTS Notes to the Consolidated Financial Statements

Non-controlling interests and Interests relating to 12.1.3 investments in investment funds Non-controlling interests mainly correspond to the syndication of Eurazeo’s investments in the context of the Eurazeo Partners and Eurazeo Capital II funds. Eurazeo’s percentage interest in the fund companies may be nil if the allocation of capital gains is not expected

to provide Eurazeo with any entitlement other than the repayment of its stake in the amount of its investment share via the fund (hurdle mechanism in favor of the limited partners). In addition, Eurazeo may occasionally perform investments in partnerships, such as Grape Hospitality, in which AccorHotels has a 29% minority shareholding.

Earnings per share 12.2

2017

2016

(In thousands of euros)

Net income attributable to owners of the Company Weighted average number of ordinary shares outstanding

440,609

519,747

68,069,772

67,993,206

Reported basic earnings per share

6.47

7.64 7.28

Basic earnings per share adjusted for bonus share grants * Weighted average number of potential ordinary shares

-

68,140,493

67,993,206

Reported diluted earnings per share

6.52

7.64 7.28

Basic earnings per share adjusted for bonus share grants

-

Adjusted for the decision of the Shareholders’ Meeting of May 12, 2016 (distribution of 3,485,204 bonus shares on May 19, 2017). *

BREAKDOWN OF CASH FLOWS NOTE 13

Cash assets 13.1 The cash flow statement analyzes changes in cash presented net of bank overdrafts and including restricted cash.

As of December 31, 2017, restricted cash consists of cash allocated to the Eurazeo liquidity contract and the restricted cash of the Eurazeo Capital and Eurazeo PME investments.

4

Note

12/31/2017

12/31/2016 1,087,500

(In thousands of euros)

Demand deposits

867,234

Term deposits and marketable securities Cash and cash equivalent assets

5,158

415,797

9.1 9.1

872,392 20,441 (10,360) (10,360) 882,473

1,503,297

Restricted cash Bank overdrafts

12,070 (5,161) (5,161)

Cash and cash equivalent liabilities NET CASH AND CASH EQUIVALENTS

1,510,205

Other short-term deposits

9.1

15,306

64,917

TOTAL GROSS CASH ASSETS

908,139

1,580,284

243

Eurazeo

2017 Registration document