Eurazeo : Corporate brochure - april 2021

To meet today's major challenges, businesses must embrace change, grow, innovate, expand worldwide, and look beyond their core business. To support them, they need a robust, bold, visio- nary, exemplary and engaged partner. Eurazeo is that partner.

From startups to SMEs, mid-caps and international groups, we identify, finance, accelerate and support companies that invent and reinvent themselves, innovative entrepreneurs, and emerging talent.

We turn constraints into opportunities, challenges into ways to create value, and bold ideas into real successes.

We stand alongside creative innovators. We support senior managers and investors.

We provide expert support at the right time. And we invest for the long term.

Power

Better

Growth

COUNTRIES

NATIONALITIES

ASSET CLASSES

With its 10 countries, 25 nationalities, a diversified offering that creates sustainable value, and its firm belief in responsible growth, Eurazeo is the ideal pathway to capital and expertise for entrepreneurs, a trusted portal to the French and European markets for international investors, and provides direct access to the real economy for individual investors. Championing meaningful growth is what we are all about.

Power

Better

Growth

P A R I S N E W   Y O R K S Ã O   P A U L O S E O U L S H A N G H A I S I N G A P O R E L O N D O N LUXEMBOURG F R A N K F U R T B E R L I N M A D R I D

Eurazeo is a leading global investment group, with a diversified portfolio of over €20 billion in assets under management, including €15 billion managed on behalf of third parties, invested in some 450 companies.

With our considerable private equity, real estate and private debt expertise, we support companies of all sizes, helping them develop through the commitment and skills of our nearly 300 professionals, our in-depth sector expertise, the privileged access we provide to global markets, and our identity as a responsible and sustainable investor.

P	O R T F O	L	I	O	3
C	O M P A N	I	E	S

Our institutional and family shareholder base, and in particular the long-standing support of the David-Weill and Decaux families, our solid financial position with no structural debt on the balance sheet, and our flexible investment horizon enable us to support companies over the long term.

To help our portfolio companies with their international expansion and to be as close as possible to our investment partners, we have offices in Paris, New York, Berlin, Frankfurt, London, Luxembourg, Madrid, São Paulo, Seoul, Shanghai and Singapore.

The Group is listed on Euronext Paris.

Power Better Growth

YEARS

OF HISTORY

		Luxembourg
		Berlin
		Frankfurt
	London
	Paris	SLOVAKIA
4	Madrid
New York
	Seoul

Eurazeo focuses on three asset classes - Private Equity (which accounts for two- thirds of our assets under management), Private Debt and Real Assets - to support and fund businesses.

Virginie Morgon,	5
Présidente du Directoire

	Shanghai
COLOMBIA	Singapore
	São Paulo

NEARLY

	COUNTRIES
E M P L O Y E E S	NATIONALITIES
Offices dedicated to investment	Offices dedicated to development

With steady growth in both assets under management and portfolio value, strong fundrai- sing momentum, and continued asset rotation into promising sectors, Eurazeo is moving forward on its growth trajectory focused on value creation for its shareholders and investors.

How would you describe Eurazeo today?

Virginie Morgon : With over €20 billion in assets under management invested on our own behalf and on behalf of institutional investors, Eurazeo is one of the most diversified investment and asset management groups, and we apply our expertise in all promising sectors.

With 450 portfolio companies in which we have invested or to which we have provided funding, we contribute to development, responsible growth, and job creation in all geographies in which we operate.

As a listed investment company with a history going back more than 130 years, the Group has a long-standing presence in France, with a broad footprint in Europe. We are also pursuing our global ambitions, having expanded into North America and Asia in the last 10 years.

What makes you different in the industry?

V.M. : We have a number of strengths, such as the exceptional quality of our people, our digital expertise, and our exemplary governance. But I would highlight four things that set us apart.

Firstly, diversification. We are one of very few firms in the sector having put in place dedicated teams with expertise in all phases of a company's development - startups, unicorns, SMEs, mid-caps, multinationals - as well as in real estate. We can offer all types of funding solutions: equity, quasi-equity and private debt.

Secondly, our international presence. We have local teams in 10 countries across four conti- nents. Not only can we support our companies

with their international expansion projects and give them access to our business network, but we can also forge close ties with international private investors in North America, Europe and Asia.

Our third main distinguishing feature is that, among global players, we have an unusually large amount of our own money to invest, as well as the funds we raise from third-party in- vestors. We use our balance sheet to support the creation, development and acceleration of businesses that we believe to have major long- term potential. Our balance sheet also ensures that the interests of Eurazeo, our shareholders and our private investors are perfectly aligned, since we invest in all of the funds we manage.

The final competitive advantage I would men- tion, and an important one at that, is our status as an innovative leader in terms of social and environmental responsibility. We started down that path 20 years ago, before the rest of our industry, and we are still out in front today.

Power Better Growth

Power Better Growth

Which three features sum up Eurazeo's investment activities today?

V.M. : Dynamic capabilities, tech and value crea- tion! We continue to strengthen our position as a major player in the tech sector. In 2020, almost 50% of our private equity investments were in this sector. Our expertise in selecting, targeting and completing investments has made us one of the leading providers of funding to European tech players. Tech represents almost two-thirds of our assets under management, and we support more than half of the French tech companies included in the Next40 index.

We made the strategic decision to take greater advantage of value creation opportunities via an asset divestment program, which will be accelerated in 2021 and 2022.

6

In 2021,

we will

continue

In the current circumstances, how do you identify attractive investment areas? What types of companiesareyou looking at?

V.M. : Today's markets are even more polarized than before. At Eurazeo, we anticipated this trend several years ago, when we began shifting our investment strategy towards the sectors and companies best positioned to meet tomorrow's challenges.

Naturally, technology companies form part of that. Overall, we have invested €5 billion in 220 tech companies, and the sector currently accounts for almost 40% of the opportunities we are studying. The Covid-19 crisis has given

• further boost to e-commerce, the adoption of digital tools by consumers, the internet of things, robotics, software development, and electronic payments.

Power Better Growth means anticipating and activating the right levers at the right times to create value for all.

Power Better Growth is about identifying, targeting and investing in promising sectors to create a more circular and sustainable future.

Power Better Growth means mobilizing resources and energies to help meet the significant challenges of our time.

THREE WORDS THAT FUEL OUR ACTIONS

FOR MEANINGFUL GROWTH

7

Will the market continue to be as buoyant as it used to be?

V.M. : The private equity market has shown its ability to navigate a volatile and complex environment. The market still has good momentum today.

There is strong demand for capital among companies of all types and all sizes that want to grow. To meet this demand, we are seeing growing inflows of capital from institutional investors looking for strong returns of the kind that the private equity industry has been delivering for 20 years now.

In this buoyant market, Eurazeo has learned a lot in the last 10 years and we have made our model even more solid, less risky and more dynamic: focusing on diversification, reducing leverage, and achieving a balance between investments in high-growth and more resilient sectors.

to invest

in

promising

sectors.

The same has happened in health care, with faster progress in the fields of biotech, diagnostics, onshoring of production, accelerated digitization of processes through remote medicine, and clinical trials. This has created a number of new opportunities for an experienced group like ours, which has invested €1.2 billion in 50 companies in the last 15 years. And it is also why Caisse des Dépôts and a group of French insurers selected Eurazeo, from a field of around 15 competitors, to manage a fund worth almost €420 million dedicated to developing a hub of excellence for the French health care sector. Our teams are also closely monitoring other promising sectors: financial services, asset management, education, premium consumer goods, and manufacturing.

ESG and sustainability issues are increasingly front and center around the world, and Eurazeo recently unveiled its new strategy in this area. What does it involve and why is this important for Eurazeo?

V.M. : Eurazeo is reaping the rewards of the commitments we made to ESG over 20 years ago. We are now included in the five leading ESG indexes and we received the maximum score of A+ in the 2020 UN PRI assessment.

I'm proud to say that O+, our new ESG program for the next 20 years, is one of a kind in our industry. We are still at the forefront of our industry in this area, as no other firm has adop-

ted such ambitious targets. The O+ program establishes some very practical objectives, such as making further improvements in terms of gender balance and inclusion, and sharing a greater proportion of the value we create. We have also made a commitment that is unique in our industry: we are aiming to cut net carbon emissions across the entire Group to zero by 2040 through a very demanding protocol approved by the Science Based Targets initiative.

And what about right now? What are your short to medium term objectives?

V.M. : We intend to continue investing in the real economy. Our strategy has proven its resilience and we plan to strengthen it further in the years

to come. We expect that our continued growth trajectory will allow us to double our assets under management in the next five to seven years, driven by ongoing growth across all our divisions, a buoyant market, and our proven ability to raise funds.

We have broadened the scope of our invest- ments, with the arrival of a new team focusing on infrastructure to support the ecological tran- sition. We have also bolstered our position in health care with our Nov Santé fund.

And we will keep up the pace in terms of value creation in our portfolio. After some good exits in 2020, the pace of divestments is likely to remain high in the near future. This will allow us to realize the hidden value in our portfolio and thus support growth in net asset value.

Power Better Growth

Power Better Growth