ROBUST AUM GROWTH TO €27BN AT END-SEPTEMBER (+44% OVER 12 MONTHS) DUE TO EXCELLENT FUNDRAISING MOMENTUM AND PERFORMANCE OF INVESTMENTS

ROBUST AUM GROWTH TO €27BN AT END-SEPTEMBER (+44% OVER 12 MONTHS) DUE TO EXCELLENT FUNDRAISING MOMENTUM AND PERFORMANCE OF INVESTMENTS

Paris, November 9, 2021

Solid growth in fundraising, expected to exceed €4bn in 2021

• Fundraising of €3.0bn over 9M 2021, nearly twice that raised over 9M 2020
• Assets Under Management: €27bn, +44% over 12 months (+24% YTD)
• Management fees: +24% to €221m1 over 9 months, including +36% from limited partners
• Dry powder of €4.1bn

Very strong growth in portfolio activity compared to 2019

• Portfolio economic revenue growth2: +23% over 9M 2021 period-on-period (+21% vs. 9M 2019), excluding Travel and Leisure which demonstrate encouraging signs of recovery;
• Revenue up by around 50% for Growth companies (not consolidated)
• NAV per share: €99 (not revalued in Q3)

Deployment and realizations over 9 months

• €4.1bn deployed over 9M, with a substantial business flow in buoyant sectors such as
  Tech, Healthcare and Financial Services (of which €1.0bn on the balance sheet)
• €2.4bn realized under excellent conditions (of which €1.3bn on the balance sheet)

Significant financial leeway

• Net cash and cash equivalents as of October 31, 2021: €697m
• €1.5bn confirmed and undrawn revolving credit facility

ESG leader

• 20% of private equity AUM (around €4bn) already allocated to a more inclusive, low- carbon economy
• Eurazeo joined the One Planet Summit initiative to bring about a green economy
• 80% of active funds with Article 8 or 9 classification under the EU Disclosure regulation

Virginie Morgon, Chairwoman of the Executive Board, declared: "Eurazeo's excellent business performance at the end of September is a fitting testament to the strength of its fundamentals and its strategic priorities. The twofold increase in fundraising, which has reached a new record high, illustrates the trust that investors have placed in Eurazeo's ability to invest in the best companies and the most buoyant sectors. The relevance of these choices has also been demonstrated through steady realizations that have created significant value, and deployment in the tech, healthcare, financial services and energy transition sectors. Furthermore, with 20% of AUM already allocated to a more inclusive, low-carboneconomy, Eurazeo has strengthened its position as ESG leader and renewed its commitment to making a positive impact on the economy. With these solid cornerstones, Eurazeo has got what it takes to stay on the offensive in a context of global recover y."

1. see table on page 4
2. at constant Eurazeo scope

EURAZEO PARIS

1, rue Georges Berger - 75017 Paris www.eurazeo.com

1. ASSETS UNDER MANAGEMENT AND DEPLOYMENT

As of September 30, 2021, Eurazeo Group Assets Under Management (AUM) totaled €27.0bn, up 44% over 12 months, and 24% since the end of 2020.

Eurazeo manages limited partner (LP) AUM of €19.2bn, up 44% on a 12-monthsliding basis, and the Group's permanent capital (Net Asset Value or NAV) of €7.8bn, up 44% year-on-year (+46% per share, dividend included) and +16% compared to December 31, 2020. It is recalled that, in line with our methodology, unlisted assets, which account for 100% of the Group's balance sheet assets, are not revalued quarterly.

	Assets under management (€m)		12/31		09/30		% change			% AUM
		2020		2021
					Last 9M			LTM
Private Equity	15,021	19,853	32%		54%		76%
Private Debt	4,329	4,940	14%		22%		20%
Real Assets	1,242	1,100	-11%		13%		4%
Total asset management AUM	20,592	25,894	26%		45%		100%
Value of the asset management activity	1,440	1,572	9%		52%
Cash and other items	(271)	(435)		n.m.		n.m.
	of which net cash	287	199		n.m.		n.m.
Total Group AUM	21,760	27,030	24%		44%
of which limited partner AUM	15,014	19,192	28%		44%		69%
of which permanent capital (NAV)	6,746	7,838	16%		44%		31%

Over 9 months, Eurazeo raised €3bn from limited partners, nearly twice that raised period- on-period.The excellent first-halfmomentum continued in Q3, with fundraising in several major programs surpassing initial targets (Growth, Secondaries, Private Debt) and the launch of fundraising in the fourth Small-MidBuyout program.

Considering the successes achieved since the beginning of the year, the Group expects 2021 fundraising to break the €4bn mark.

A breakdown of fundraising is shown in Appendix 1

Fundraising1 (€m)	9M 2020	9M 2021	% change
Private Equity	1,357	2,114	+56%
Private Debt	184	883	x4.8
Real Assets	-	-	-
Total	1,541	2,997	+94%

1 excluding Eurazeo's commitments in the Group's programs

Furthermore, Eurazeo has announced its intention to raise its stake in Kurma Partners by acquiring an additional 30% of its capital. It now holds 70.6%. Kurma Partners is a French venture capital firm managing around €500m in assets that specializes in biotechnologies and medical innovation. Following the decision of the French Insurance Federation (FFA) and Caisse des Dépôts to entrust Eurazeo with the management of the Nov Santé fund, the increase in the Group's stake in Kurma Partners confirms Eurazeo's position as a leading investor in healthcare.

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Over 9M 2021, Group's deployment surged in all asset classes, totaling €4.1bn compared to €1.7bn over 9M 2020. The Group has set up divisions offering cross-cutting sector expertise in buoyant segments such as Tech and Digital, Healthcare and the Green Economy. This expertise enables the Group to enjoy a very rich dealflow and remain particularly selective in its deployment.

Realizations completed over 9M 2021 rose sharply to €2.4bn (vs €0.7bn over 9M 2020), as the Group continued its ambitious asset divestment program in a buoyant environment.

A breakdown of deployment and realizations is shown in Appendix 2

	(€m)			Deployment			Realizations
			9M 2020			9M 2021			9M 2020			9M 2021
Private Equity	1,169			2,871		318			1,418
Private Debt	356			1,047		302			455
Real Assets	70			172		63			433
Other	102			34		-			112
Total	1,696			4,123		683			2,417
of which balance sheet	542			1,049		117			1,256

2. REVENUE FROM THE ASSET MANAGEMENT ACTIVITY

The asset management activity posted solid revenue growth in 9M 2021, demonstrating the platform's appeal.

The development of this strategic business creates numerous synergies within the Group, mainly through risk diversification, the greater investment universe, the increase in the share of recurring foreseeable income, the leverage impact on costs and the appeal for talents.

• Management fees increased by +24% to €221m for the nine months ended September 30,
  2021 and break down as follows: i) management activities for limited partners up by +36% to €158m, driven by the embedded effect of good fundraising in 2020 and H1 2021; ii) management fees calculated on Eurazeo's balance sheet of €62m, up slightly by +1% due to numerous recent realizations and completed syndications;
• Realized performance fees were substantial during the period (€75m) due to completed realizations, and accrued for Growth companies whose change in fair value was taken to P&L.

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(€m)	9M 2020	9M 2021		% change
Management fees	179		221	+24%
of which limited partners	117		158	+36%
of which calculated on the balance sheet	62		62	+1%
Realized performance fees	13		75	x6
of which limited partners	3		11	x4
of which calculated on the balance sheet	10		64	x6
Total fees	191		295	+55%

3. PORTFOLIO REVENUE

Portfolio economic revenue carried on the balance sheet rose by 20% over 9M 2021 at constant Eurazeo scope. Excluding the Travel & Leisure segment (T&L), economic revenue rose sharply by +23% compared to 9M 2020.

As a reminder, the comparable base for the first nine months of 2020 was high. Compared to 9M 2019, economic revenue excluding T&L at constant Eurazeo scope increased by +21%. This striking performance once again demonstrates the quality of the Group's portfolio.

The Growth portfolio benefits from its digital native positioning and reported weighted average revenue growth of approximately 50% in Q3 2021 (not included in the figures below as the companies are not consolidated).

Travel & Leisure segment revenue has shown encouraging signs of recovery but has yet to fully regain its 2019 level: the occupancy rate of Grape Hospitality hotels stood at over 60% in Q3 and WorldStrides student travel bookings indicate the strong likelihood of a more marked turnaround in 2022. These two assets represent less than 3% of NAV as of September 30, 2021.

Given the strong capitalization of portfolio companies and their performance, the Group does not expect to provide them with additional financial support.

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REVENUE BY INVESTMENT DIVISION

	9 months (€m)
	2019 PF	2020 PF	2021		% chg.		% chg.
		vs. 19 PF		vs. 20 PF
Mid-large buyout	2,315	1,651	1,945		-16%		18%
excluding Travel & Leisure	1,479	1,415	1,735		17%		23%
Small-mid buyout	946	907	1,128		19%		24%
Brands	78	93	142		82%		52%
Real Assets	422	369	416		-2%		13%
Portfolio economic revenue	3,761	3,020	3,630		-3%		20%
excluding Travel & Leisure	2,750	2,702	3,319		21%		23%

N.B.: 2019, 2020 pro forma figures at constant Eurazeo scope.

4. ESG COMMITMENT

An ESG (environmental, social and governance) pioneer for nearly 20 years, Eurazeo has again sought to integrate the highest ESG standards, with the launch of its "O+" strategy in 2020.

In 2021, the Group stepped up its commitments and accelerated its investments to drive forward the transition to a more inclusive, low-carbon economy: 20% of its private equity assets, i.e. around €4bn, are already dedicated to this focus.

Committed to accelerating the emergence of a more inclusive, low-carbon economy, Eurazeo has incorporated ESG criteria into each of its investment strategies, as illustrated by some 80% of its active funds having Article 8 or 9 classification under the new European Disclosure regulation.

Decarbonization and inclusion are two pillars of the Group's ESG strategy:

• With respect to decarbonization, Eurazeo has submitted a CO2 emissions reduction trajectory calculated using the SBTi methodology, the most stringent benchmark in this area. In one year, Eurazeo has already reduced its carbon emissions by 27% and increased its share of renewable energies to 56%.
• With respect to inclusion, women accounted for 50% of hirings in the past nine months, raising the company's gender diversity rate to 43%. Furthermore, 73% of the 160,000 employees working in the Group's portfolio companies across the globe now benefit from a health plan.

Eurazeo also joined the initiative to bring about a green economy at the One Planet Sovereign Wealth Funds (OPSWF) fourth annual summit by signing the One Planet Private Equity Funds Statement on Climate-Related Financial Disclosures.

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