Wendel : Shareholders’ Meeting Presentation – May 15, 2025

Shareholders' Meeting

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Agenda

2024 highlights, Asset Management & Principal Investments Performance

by Laurent Mignon, Group CEO

2025 and recent events

by David Darmon, Member of the Executive Board and Group Deputy CEO

ESG performance

by Christine Anglade, Director of Sustainable Development and Communication, Executive Board Advisor

Governance and compensation

by William D. Torchiana, Chairman of the Governance and Sustainability Committee

Resolutions

by Caroline Bertin Delacour, General Counsel

2

Statutory auditors reports Questions from shareholders Vote on resolutions

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2024 highlights, Asset Management & Principal Investments Performance

L a u r e n t M i g n o n , G r o u p C E O

A strong 2024 performance leads to a strong 17.5% growth of proposed dividend

Strong 2024 value creation : NAV up 16.9% (1)

Principal Investments Third party AM platform

Significant Value Creation :

+€21.1 per share

Strong Bureau Veritas 2024 performance: share price up

+28.3%

IK Fee Related Earnings :

€69.9m,

above expectations

AuM: €13.8bn, up +24% YoY €3.4Bn raised in 2024

2.5% of Principal investments NAV returned to shareholders

~90% of after tax FRE

+

returned to shareholders (on average)

Stronger Return

with proposed 2024 dividend of €4.7 per share, up +17.5%

Representing >2.5% return to 2024 total NAV(2)

Announced Target

More than 2.5% of NAV to be paid in dividends(3),

heading to c.3.5% mid-term with the development of Asset Management(4)

1. Compared to Dec. 31, 2023, NAV fully diluted of €162.3 per share. +16.9% over 2024 when restated for the €4 dividend paid in May 2024

2. €185.7 as of December 31, 2024.

3. Based on N-1 December non diluted NAV and with a minimum objective of maintaining stability of dividend vs. previous year.

   
   
   

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4. Dividend target of c. 3.5% of NAV including 2.5% of Principal Investments NAV (hence NAV restated from GPs ownership values) returned to shareholders + 2.5% of invested Sponsor Money + ~90% of after tax FRE to be returned to shareholders(on average)

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Delivering strong and recurring returns to shareholders, in line with the strategic roadmap published

in 2023

Proposing a €4.70 per share dividend, up +17.5% Representing a yield of c.5.2%(1) on Share Price and >2.5% of NAV

€100 million share buyback launched in October 2023 completed in July 2024.

€92.5 million share bought back in 2024

+21.2%

CAGR 2024 dividend to be

4,70 €

proposed today

1,25 € 1,30 €

1,75 € 1,85 € 2,00 €

2,15 € 2,35 €

2,65 € 2,80 € 2,80 €

2,90 € 3,00 € 3,20 €

4,00 €

2024

2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
1.3%	1.7%	1.5%	1.4%	1.6%	1.6%	1.5%	1.5%	1.9%	1.7%	1.8%	1.6%	1.9%	2.5%	>2.5%

Div/ANR yield

In euros per share, ordinary dividend

The 2011 ordinary dividend included an exceptional distribution of 1 Legrand share for every 50 Wendel shares held.

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(1) Based on Wendel's share price of €90.6 as of May 13, 2025.

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