A SOLID 2016 MULTIPLE INITIATIVES TO CREATE VALUE · > Build a global footprint > Increase IP content > Build a digital offer > Recruitment of talented staff bringing new skills to

A SOLID 2016

MULTIPLE INITIATIVES TO CREATE VALUE

MAXIMIZING RETURNS ON A RISK ADJUSTED BASIS

A SOLID 2016

Solid revenue growth in 2016

1,996 2,181

2,119 2,153

FY 2015 FY 2016

+1.6%

+9.3%

Companies consolidated under equity method

Fully consolidated companies

4,115 4,334

+5.3%

1,102 1,176

Q4 2015 Q4 2016

Série 1 +6.7%

ECONOMIC REVENUES

Growth at constant Eurazeo scope In €m

FY 2016 Results 4

Outperforming organic growth

GROWTH OF ECONOMIC REVENUE

at constant Eurazeo scope In %

(*) Source: World Bank (2011-2015) (**) 2016E: European Commission

+2.9% +2.9%

-0.3%

+7.1%

+12.0%

+5.3%

+1.5%

-0.9% -0.3% +1.1%

+2.0% +1.7%

2011 2012 2013 2014 2015 2016

Eurazeo

GDP growth of Euro Area*

**

FY 2016 Results 5

Continued increase in companies’ contribution

CONTRIBUTION OF COMPANIES NET OF FINANCE COSTS

In €m

2016 2015 PF Change

Adjusted EBIT of Group consolidated companies 279.0 251.3 +11%

Cost of financial debt of Group consolidated companies (net) (122.4) (113.1) -8%

Results for companies consolidated by the equity method, net cost of debt 84.8 57.1 49%

Contribution of companies’ net of finance cost 241.5 195.3 +24%

FY 2016 Results 6

Increasing EBITDA

x%

CAGR

2013

20

14

2015

20

16

(*) Eurazeo PME: proforma, portfolio as of December 31, 2016 (**) Europcar: adjusted Corporate EBITDA (***) Sommet Education: adjusted EBITDA in million swiss francs

13

242

401

99

157

192

22

261

429

105

213

67

233

41

200

446

134

251

41

92

92

300

28

65

166

468

146

254

43

93

92

355

25

+69.5%

* **

-11.8%

+5.3%

+13.9%

+17.3%

+3.8%

+17.3% +0.0% -9.9%

+22.8%

***

EBITDA

in €m

FY 2016 Results 7

Profit & Loss details

PORTFOLIO COMPANIES’ CONTRIBUTION (net cost of debt) in €m

2016 2015 PF

Contribution of companies net cost of debt 241.5 195.3

Change in value of real estate properties 3.3 25.5

Capital gains (net) 831.6 1,741.4

Other(1) (65.1) (55.5)

Taxes (32.2) (32.1)

Non-recurring items (336.0) (313.9)

Net consolidated income 643.0 1,560.6

Net consolidated income Group share 519.7 1,290.2

(1) Revenue at the holding company, net cost of financial debt of holding sector, operating costs and amortization of commercial contracts

FY 2016 Results 8

Non-recurring items in 2016

Total non-recurring items (€m) (336.0)

• Adjustment for Europcar valuation (180.4)

• Acquisition, Restructuring & Carve-out costs (91.9)

• Others (63.7)

FY 2016 Results 9

Strong financial position

AT EURAZEO LEVEL

No structural financial debt at Eurazeo level

Solid net cash position: c.€998m* as of Dec. 31, 2016

Portfolio companies’ financial debts are non recourse to Eurazeo

6,307 6,021

3,619

4,587

355

1,501

2011 2012 2013 2014 2015 2016

CONSOLIDATED NET DEBT In €m

AT CONSOLIDATED LEVEL

(*) €998m: proforma of the repayment of the AccorHotels debt in LH19 (the holding company carrying AccorHotels shares)

FY 2016 Results 10

A good progression in NAV per share

NAV: +4.9% €5,026m

NAV per share in 2016: +6.7%

28%

24% 8%

5%

9%

3%

22%

2% Eurazeo Capital

(listed)

Eurazeo Capital (non-listed) Eurazeo PME

Eurazeo Croissance

Eurazeo Patrimoine

Eurazeo Development

Cash

Others

2016 NAV

+8.2% +18.0%

+9.0% +28.0%

Eurazeo non listed: +27% Eurazeo listed: -4%

excl ANF Immobilier & Colyzeo

FY 2016 Results 11 NAV per share: Adjusted for the payment of the exceptional dividend

MULTIPLE INITIATIVES TO CREATE VALUE

TRANSFORMATION Activation of growth drivers

BUILD-UPS ORGANIC GROWTH

Elis Les Petits Chaperons Rouges Colisée Neovia Asmodee …

> Digitalization Asmodee

Flash Europe Europcar

AccorHotels …

FY 2016 Results 13

> Operational Excellence Asmodee

Colisée …

TRANSFORMATION Build-ups deeply embedded within the strategy

Whatever the size 29 acquisitions*

invested in 2016 €228m 6 acquisitions

23 acquisitions

Full Support And the Winners are:

7 acquisitions

4 acquisitions

Deal structuring Financials Operational

Due Diligence Consulting Human Resources

(*) Excluding AccorHotels’s acquisitions

7 acquisitions

FY 2016 Results 14

TRANSFORMATION Eurazeo, fully engaged in the digital transformation

The PE with embedded digital capability

Every company involved

Parisfashionshops.com, CIFA online market place

Be the reference of physical and digital board games

FY 2016 Results 15

Be the disrupter, not the disruptee

TRANSFORMATION Flash Europe: digitalization, a powerful booster

• Flash Europe network, a full response shipment <12hrs

• An asset light model

The European leader in premium freight

for critical shipment

The disrupter, ahead of its competitors

Boost competitivity & address new markets

• Digital roadmap for business operations & corporate

• An innovative digital freight platform (big data, new pricing model)

• Cost reduction through automation

• Opportunity to expand in new markets with new products

Addressable companies

10%

All companies

European Premium Market

Transport Market

Express Market

Development Strategy (Internal & External Growth)

Digital Strategy

Addressable Premium

Freight market

All manufacturing

industries

FY 2016 Results 16

DIGITAL RETAIL STORES

Distribute digital

board games

TRANSFORMATION Asmodee: digitalization at the core of strategy

BOARD GAME PUBLISHER

DIGITAL DEVELOPMENT STUDIOS

3rd party studio

+

PROPRIETARY TECHNOLOGY & CONCEPT

Aggregate content

+

Provide service to game

publishers

Aggregate communities

across devices

End customer

4.2m cumulative downloads for Ticket To Ride App

CDO’s recruitment, 2 digital experts on the Board, partnership with FDJ (Française des Jeux)

10 boardgames already available & more to be added

Strengthening digital skills

Develop a new digital offer

Creating a digital ecosystem

FY 2016 Results 17

TRANSFORMATION Asmodee: growth & operational excellence

Activities

2013 2016

Distribution

~50%

Publishing

65% Announced after acquisition date (March 2014)

(1) Based on EFT (2) At constant scope and exchange rates

Revenues (in €m)

124 175

270

402 X 3.2

2015 2013 2014

2016 PF*

EBITDA (in €m)

13 22

41

78

10.7% 12.4%

15.3%

19.4%

2013 2014 2015 2016 PF*

EBITDA Margin

X 6.0

> Innovate through new games > Build a global footprint > Increase IP content > Build a digital offer

> Recruitment of talented staff bringing new skills to the organization (632 people in 2016 proforma vs. 116 in 2013)(1)

Team

Strategic build-ups

Business model: strategic pillars

Strong organic growth(2)

2014 2015 2016

+34% +19% +19%

Long-term target:

Publishing activity >60%

* Proforma of acquisitions

FY 2016 Results 18

TRANSFORMATION Colisée, from family-owned to mid-cap

Nursing Homes (#)

2014

46

2016

77 +67% > New website > My Colisée, the first nursing home social network > digitalization of its facilities

Digitalization :

Beds (#)

3,397 5,881

2014 2016

+73% Homecare Hours (#)

> 3m

Agencies (#)

66

New market penetration – Homecare

#1 in France (owned

agencies) Services offered: meal preparation, eating assistance, personal care and grooming, house keeping, mobility assistance, companionship, recreational activities

International presence

> Consolidating the market : +31 since Sept. 2014

> Manages 77 facilities : • 70 facilities in France • 6 in Italy • 1 in Spain

Growth

> Italy: 6 residences

> China: JV agreement – facility under construction

Sales operations (in €m)

140 265

2014 2016

CAGR

+38%

Occupancy rate

2014 2016

Bien à la Maison NouvelHorizon

96.9% 93.8%

FY 2016 Results 19

GLOBALISATION of our companies

Broad INTERNATIONAL DEAL FLOW

INTERNATIONALISATION

FY 2016 Results 20

of economic revenues outside France in 2016 versus 54% in 2015

At Eurazeo level, 62%

INTERNATIONALISATION of our investments

Fintrax invested outside France

since 2014

44% Sommet

Education

Farfetch

Asmodee Desigual Farfetch Fintrax Les Petits Chaperons Rouges

Neovia Orolia Péters Surgical Sommet Education …

Desigual

INTERNATIONALISATION Globalisation of our companies

USA: 11 acquisitions since 2014

UK: acquisition of Magic Nurseries in 2017

Germany: investment in Infanterix in 2016

60% revenue outside France in 2016 vs. 51% end of 2013

India: acquisition of Stericat in 2015

75% revenue outside France in 2016 vs. ~50% end of 2013

Scandinavia, UK, Italy, …

Brazil: acquisition of Btech in 2015 Philippines: acquisition of Popular Feedmill in 2015 Indonesia: acquisition of Welgro in 2015 China: exclusive discussions with Sanpo in 2017 …

ACTIVE SUPPORT FROM INVESTMENT

TEAMS FOR INTERNATIONAL DEVELOPMENT

FY 2016 Results 21

INTERNATIONALISATION Eurazeo offices key actions for development

Recent achievements of Eurazeo China

Business partnership with Shouqi Car Rental

Exclusive negotiation to become the majority shareholder of Sanpo

Joint Venture with Wanma

Joint Venture with the Lotte Data Communications Corporation

First milestone for Eurazeo South America

Acquisition of Lavebras

Head of China recruited in 2016

ACTIVE LOCAL SUPPORT

FOR INTERNATIONAL DEVELOPMENT

FY 2016 Results 22

INTERNATIONALISATION Broad dealflow

355 Opportunities

France

U.S.A.

46%

3%

International (#)

o/w U.S.A.

2015 Dealflow 2016 Dealflow

291

55

193

9

Rest of the world

x1.5

x6.1

>75% outside France

Rest of the world

24%

385 Opportunities

France

14% U.S.A.

FY 2016 Results 23

INTERNATIONALISATION Broad deal flow in the U.S.

EXPAND AND DIVERSIFY OUR INVESTMENT

OPPORTUNITIES IN THE U.S.

US deal flow

• Initiated reverse coverage of the top 15 M&A banks in our size range and key sectors: - Financial sponsors coverage, key sector bankers, sponsor M&A person,

and Leveraged Finance - Explain our investment philosophy and unique differentiating angles

• Build network with midcap & debt funds, transaction service providers, lawyers

• Differentiated U.S. sourcing approach vs Europe

• Leverage industry sector focus and foreign offices

28%

22% 9%

10%

7%

7%

5% 4% 4% 4%

Bus. Serv.

Consumer & Retail

Total 113

10

18 20

38

27

Q1 2016 Q2 2016 Q3 2016 Q4 2016 2017 YTD*

FIG

Food & Bev.

Healthcare

Industrials

Media & Telco

Tech

Nat. Res.

Size of companies: mean EBITDA ($50m), median EBITDA ($77m) (*) As of March 14, 2017

New opportunities by quarter

Since September 2016: • 28 NDAs signed • 3 offers submitted

Deal flow by Sector

Other

FY 2016 Results 24

CARVE OUT, a different route to growth

EURAZEO DEVELOPMENT, a new lever to create value

INVESTMENT PLATFORMS

Accelerating our FUNDRAISING

NEW HORIZONS

FY 2016 Results 25

Deal Sourcing | Platforms | Fundraising

iM Square | Capzanine | Raise

NEW HORIZONS Carve out: creating new champions

Uniquely positioned for carve-outs

Ambitious twofold approach to develop champions

Three transactions signed in 2016

> Grape Hospitality in the hotel sector

> Sommet Education in Education

> CPK, the future company for confectionery and chocolate brands

> Relaunching hidden gems

> Future consolidation when relevant

> Corporate teams

> Blue chip status

FY 2016 Results 26

NEW HORIZONS Sommet Education: A new talented team

Benoît-Etienne DOMENGET Group CEO

Fabien FRESNEL Group COO

Pete SHEMILT Group VP Marketing and Enrolment

2015-2016 CEO of Michel Reybier Hospitality Group, encompassing luxury hotels such as La Réserve, Victoria-Jungfrau Collection, vineyards and wellness businesses

2011-2015 Managing Director Accor Switzerland. Leading the expansion of the brand portfolio in the Swiss market

Before 2011 Senior Vice President Development EMEA – Accor Group

Education HEC Paris

2011-2016 Dean & Chief Academic Officer for Ecole Hôtelière de Lausanne

Before 2011 Professor at Ecole Hôtelière de Lausanne (Real Estate finance) Leading the expansion of Jacques Gourmet, a luxury restaurant chain in the USA. Leading food and beverage operations for Michelin-starred restaurants and luxury hotel properties in France and abroad

Education Master in Hospitality Management - Cornell University PhD in Management Science - University of Bordeaux IV Montesquieu

2008-2016 Director of marketing and enrolment strategy of Cambridge Education Group leading recruitment, marketing and admissions teams in 18 countries

2005-2008 Sales and Marketing Director EMEA at Cambridge University Press

Education BA Language & Literatures – University of Hull MBA – University of Cape Town

FY 2016 Results 27

NEW HORIZONS Sommet Education: Refocusing on premium education

S T U D E N T C E N T R I C – I N D U S T RY D R I V E N – E N T R E P R E N E U R I A L

Focus & Agility

• Prestigious & powerful brands

• Speed & proactive organization

• Dynamic product development

• Global & efficient distribution model

Super Premium positioning

• Life changing Experience

• Rooted in Swiss Values

• 100+ student nationalities

• Outstanding employability & career perspectives

Exclusive educational model

• Personalized educational paths

• Disruptive learning methods

• Unique multi-campus offer

• Talented Faculty

Growing industry needs

• Sustained industry growth

• Enlarged industry spectrum

• Market driven portfolio diversification

• Life-long education opportunities

> Build a Global integrated leader in Hospitality Education

> Enhance Brand Value Creation

> Drive scalable & resilient business models

GROWTH & DEVELOPMENT

FY 2016 Results 28

NEW HORIZONS Investment platforms to explore new activities

Alternative financing for SME

> New funds and new products launched with Eurazeo’s operational support

> A €100m commitment by Eurazeo to be invested in Capzanine funds from 2017

(Year of investment)

> An international bridge between mid-sized entrepreneurial asset managers, global distributors and investors

> The sole European-based international development platform with long term, direct capital ownership, mainly as a minority investor

June 30, 2015 Dec. 31, 2016

€1.4bn €1.0bn

AUM

Asset Managers growth accelerator

FY 2016 Results 29

NEW HORIZONS – iM Square, an innovative asset management business development platform

Philippe COUVRECELLE Founder & CEO

2007 - 2012 Chairman of the Executive Board of Edmond de Rothschild Asset Management Led in-depth resrtructuring program covering, which enabled the globalization of the company with international sales network covering South America, Europe and Asia

2004 - 2007 Deputy CEO at Natixis Asset Management Redeployed sales and marketing teams in the institutional market and external distribution with total net inflows of almost €20 bn in 3 years. EdRAM was named best European asset manager at the Funds Europe Awards 2011 and 2012 in London

2001 Founder of Asset Square Subsidiary of Natixis based in Paris and London, which specialized in multi-management with €4.5 bn after 5 years

West Palm Beach (FL) / Boston (MA)

> Established in 1993

> Listed on NYSE since 1997 à US$ 9bn market cap, as of March 2017

> US$ 7bn invested in affiliates since inception

> c.40 Affiliates essentially based in the US for total AuM of US$ 727bn

> EBITDA 2016: US$ 946m, a 34% average growth since inception

> Estimated blended yield of 9.4% (equity and convertibles)

Paris / London

> Established in June 2015

> €92m raised

> Investment of €500m in asset managers by 2019

> 3 investments as of March 2017

> Target of 5 to 10 minority international stakes (20-49%) by 2019

> Targeted yield around 15%-17% with a scenario of moderate net inflows and without leverage à vs > 20% performance in 2016

iM Square: a competitive universe led by one major US player, AMG

FY 2016 Results 30

NEW HORIZONS – iM Square Strong execution to date

Targetting small & mid sized asset managers

ASIA

TARGET GEOGRAPHIES

$1bn $15bn To:

ASSET CLASSES

> Global, US, European or emerging equities

> Corporate, high yield or emerging bonds

> Asset allocation strategies

Groupe Dassault / La Maison

€40m €52m

June 2015 July 2016

COMMITMENTS

+

Investment date: December 2015

20% 45% $11.2bn $5.8bn +$3.5bn since investment

% stake held by iM Square

> Acquisition of Paris-based asset management firm in December 2016

> Distribution of funds managed by the partners in Europe to start in Q1 2017

> Launch of US operations expected in 2017-2018

AUM

Priority

Targets: successful independent asset managers with substantial room to grow their AuM

Funding

Investments Distribution

From:

AuM Dec 16

Investment date: November 2016

FY 2016 Results 31

NEW HORIZONS Fundraising, strong lever for growth

Third party funds

Eurazeo PME III

2017

Eurazeo Capital II

2016

Eurazeo PME I & II

2015

Eurazeo Partners

2006

€500m €27m PME I PME II

€183m €500m Fundraising

8 9 8 5 # of investments

CPK

€1bn AUM Fee streams: €9m annual management fees* & incremental performance fees

Increased investment capacity International network development

(*) Excluding performance fees, proforma for Eurazeo Capital II and Eurazeo PME funds

FY 2016 Results 32

NEW HORIZONS Multiple initiatives for future growth and value creation

2015 2016 2017 2002 2005 2006 2010 2011 2013

AND TOMORROW, PLENTY OF POSSIBILITIES

(*) CPK: confectionary business. Closing expected in H1 2017

Investment strategies

Eurazeo Development

Eurazeo Capital

Eurazeo Croissance

Eurazeo Patrimoine

Eurazeo PME

Fundraising Eurazeo Capital II

Eurazeo PME III

Eurazeo PME I & II

Eurazeo Partners

New types of investment

Capzanine

Sommet Education

Grape Hospitality

CPK*

iM Square

Internationalization São Paulo New York Shanghai Luxembourg

FY 2016 Results 33

MAXIMIZING RETURNS ON A RISK ADJUSTED BASIS

How do we run our business?

Risk mitigation

Superior returns

FY 2016 Results 35

RISK MITIGATION Permanent evolution of Eurazeo

INVESTMENT STRATEGIES

2016 2008

OFFICES

NUMBER OF PORTFOLIO COMPANIES

2016 2008

2016 2008

13

(*) CPK not included

34*

Eurazeo Capital 12

Eurazeo Croissance 6 Eurazeo PME 9

Eurazeo Patrimoine 4 Eurazeo Development 3

FY 2016 Results 36

RISK MITIGATION Increased diversification through sectors

Excluding Cash, tax & treasury shares

21%

11%

21%

23%

3%

10%

7% 4%

Services (Financial/

Digital/Business)

Brands & Consumer Goods

Renewable Energy

Healthcare

Education Others

Mobility & Leisure

As of Dec. 31, 2016 Real

Assets

35%

14%

31%

18%

1% 1%

Mobility & Leisure

Real Assets

Brands & Consumer Goods

Renewable Energy Others

Split of NAV by sector

As of Dec. 31, 2008

Services (Financial/

Digital/ Business)

FY 2016 Results 37

RISK MITIGATION Third parties’ involvement

Since 2002

ASSOCIATION

Eurazeo Partners

SYNDICATION Since 2002

FUNDRAISING Since 2006

Eurazeo PME I & II

Eurazeo Capital II

FY 2016 Results 38

RISK MITIGATION Key pillars of our model

Long holding period

Time Freedom # portfolio companies:

Recent 6 years 9 years 12 years

22 7 1 5

Patient capital

Executive Board

Corporate Team

Investment/ Sourcing Teams

Experienced teams

Accelerate the growth of companies / Transform our portfolio companies

Capital Increase

Build-ups

Shareholder base

Accelerating growth

Solid financial position

Evergreen

No debt Net cash €1,084m As of Dec. 31, 2016

Long-term family shareholders

FY 2016 Results 39

RISK MITIGATION Direct benefits for our shareholders

10

20

30

40

50

60

02/01/2012 02/01/2013 02/01/2014 02/01/2015 02/01/2016

(%)

(*) Daily volatility calculated on 90-rolling days Source: Bloomberg

9,892

4,295

2012 2016

Distributable reserves >20yrs

of current dividends

€1,801m As of Dec. 31st, 2016

Decreasing volatility January 1, 2012 – Dec. 31, 2016*

Increasing market liquidity

Amount per day (in thousands of euros)

FY 2016 Results 40

RISK MITIGATION Measureable improvements

Continuously Multi-asset class categories

adapting Eurazeo Organisation

Increase diversification

in order to enhance returns

Sectors Geographies

A long-term approach A strong financial position based on solid roots Long-term shareholders

FY 2016 Results 41


Risk mitigation

Superior returns

FY 2016 Results 42

SUPERIOR RETURNS Asset rotation to drive returns

To transform a potential capital gain into a realized capital gain

To externalize hidden value

To adapt to the evolving environment: selecting the most attractive sectors, continuously exploring new promising businesses

FY 2016 Results 43

SUPERIOR RETURNS Active on investments and exits

55 436

1,112

486

1,192 1,424

688 143

114

538

550

833

2011 2012 2013 2014 2015 2016

Investments

Exits

743 579

1,226

1,024

1,742

2,257

ASSET ROTATION in €m

FY 2016 Results 44

SUPERIOR RETURNS Asset rotation in 2016

€833m

Invested in 2016(1)

(1) All transaction fees are included (2) Net of fees

(Re-investment)

€104m €529m

€22m €154m

€24m

€1,424m

Net proceeds in 2016(2) €394m 1.7x

CoC multiple

€469m 2.4x

CoC multiple

€195m 4.1x

CoC multiple

€366m

Eurazeo Capital II Grape Hospitality

FY 2016 Results 45

SUPERIOR RETURNS Continuous NAV growth

36.1 43.8

54.0

39.3 45.7

60.0 61.8 67.8 72.3

Dec. 31, 2008 Dec. 31, 2009 Dec. 31, 2010 Dec. 31, 2011 Dec. 31, 2012 Dec. 31, 2013 Dec. 31, 2014 Dec. 31, 2015 Dec. 31, 2016

NAV*

In € per share

(*) Adjusted for bonus share allocations and exceptional dividends

+9.1%

CAGR

+13.0%

CAGR

FY 2016 Results 46

SUPERIOR RETURNS Cash on cash multiples, mostly driven by EBITDA growth

CapitalInvested

EBITDAGrowth

MultipleGrowth

Deleverage Exit

Cap Vert Finance Flexitallic Gault & Frémont Mors Smitt

Multiple

2.4x

Multiple

3.3x

EBITDA Growth Deleverage Multiple Expansion

1.0x

2.4x

(0.9)x 0.6x

1.7x

3.3x

1.0x

2.1x 0.3x (0.2)x

CapitalInvested

EBITDAGrowth

MultipleGrowth

Deleverage Exit

Foncia Moncler

Disposals on investments realized since 2011

FY 2016 Results 47

Deleverage: includes build-ups financing

SUPERIOR RETURNS Sustainable value creation for our shareholders

2016

2008–2016

Share buybacks Dividends

€642m

Criteria: • Significant net cash position • Shares trading at a discount to intrinsic NAV • Legal requirements

i.e.5.6% of total shares

As of Dec. 31, 2015 €213m

Cumulative dividends €722m

€160m

38 45 45 57 63 63 64 67 74 76 75 79 80

293 64 80

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014* 2015 2016

Special dividendOrdinary dividend

ANF Immobilier shares

Ordinary dividend CAGR: +6.4% over 12 years

Dividend distribution in €m

(*) Purchase and cancellation of 5.8% of total shares in 2013

FY 2016 Results 48

SUPERIOR RETURNS Investments: on track to deliver targeted returns

15–20%

IRR: Our achievements Our targets Our aims

€400 – 500m

March 2014 announcement

15–20%

>20%

>10%

Build-ups included

c.€100m

November 2015 announcement

€100-170m

March 2014 announcement

€15-20m Initial investment ticket

November 2015 announcement

€443m

€400m €500m

€111m

€72m (4 deals)

€150m

€100m €120m

(Annual average investment 2014-2016)

€100m €170m

(Investment per annum)

FY 2016 Results 49

SUPERIOR RETURNS Long-term total return since 2008 & 2011

Cost of equity

Superior returns

Cost of equity

8.4%

+15%

7.8%

+25%

Annualised TSR

Dec. 31, 2008–Dec. 31, 2016 Dec. 31, 2011–Dec. 31, 2016

FY 2016 Results 50


Superior returns

Risk mitigation Favorable

risk reward

FY 2016 Results 51

APPENDICES Including Group companies’ detailed information

Financial appendices 54

Group companies’ detailed information 62

Other 98

FINANCIAL APPENDICES

Change in NAV

4,994 5,026

-1,299

+256

+532

+50 -35

+42 +17 -28 +139 +10 +29

+92 +121

+106

NAV Dec. 31, 2015

Others

+€121m

NAV Dec. 31, 2016

€m

Disposals & dividends

Change in value

Acquisitions

-€511m +€121m +€59m +€121m

FY 2016 Results 55

Cash-on-cash multiple: a strong track record

(1) At Eurazeo PME level (2) Sale of part of ANF Immobilier’s portfolio (Lyon) (3) On average over the entire investment:

4 disposals in June & August 2013 and April & Sept. 2014

Multiple

<€50m

€50–100m

€100–150m

>€150m

Investment size:

x 0,0x

0,5x

1,0x

1,5x

2,0x

2,5x

3,0x

3,5x

4,0x

4,5x

5,0x

2016

Fraikin

Eutelsat

Terreal

Station Casinos

B&B

2005

3.5 3.4

0.2

2.1

2.4

2013

Sirti

Edenred

0.0

3.5

2.9 Flexitallic Group(1)

APCOA

0.0

Mors Smitt(1)

ANF Immobilier(2)

0.7

0.0

Intercos

3SP

2014

Rexel(3)

2015

1.8 Gault &

Frémont(1)

2.0

Accor

4.6 Moncler(5)

2.4

2.0 2.3 2.2

1.2

Elis(4)

1.4

Europcar

2.0

Cap Vert Finance

IMV Techno.(1)

Elis (4)

Foncia

4.1

Moncler(5)

2.8

Moncler(5)

(4) Partial sales of Elis in February 2015, April 2016 and May 2016 respectively (5) Partial sales of Moncler in December 2013, May 2015 and September 2016

1.7

2.4

FY 2016 Results 56

Eurazeo: A diversified group of market leaders (1/5)

FY 2016 Results 57

% of Control

% of Interest Ranking 2016 sales

(€m) %

International

4.3% 3.7% Hotel manager: Accor operates in 92 countries with 160,000 employees #1 in the world 5,631 72%

79.7% 59.8% Leading European board games and trading cards publisher & distributors Fast growing market 377 75%

In process In process New group dedicated to 10+ iconic European chocolate and confectionery brands from Mondelez International - - -

10.0% 7.4% High-growth clothing and accessories designer & distributor Fast growing market 861 78% (2)

23.3% 14.2% Rental and cleaning of textiles and hygiene services #1 in Europe 1,513 36%

48.7% 42.4% Short-term car rentals with a fleet of ca.200,000 vehicles #1 in Europe 2,151 82%

90.7% 72.4% Leading player in Tax Free Shopping & Dynamic Currency Conversion #2 in the world 223 80%

41.1% 30.7% Pioneer in employer-sponsored nurseries #2 in French nursery market 155 0%

9.5% 7.9% Leading brand in luxury outerwear Fast growing luxury brand 1,040 86% (4)

17.3% 13.0% Leader in the animal nutrition and health sector Fast growing market 1,608 80%

65.8% 49.4% Leading global pharmaceutical and essential chemicals company

Leading positions in its target growing end-markets 638 71%

99.9% 75.0% Global leaders in the hospitality and services management education sector #2 & #3 in the world CHF164(3) 100%

CPK

(1) Outside France (2) Outside Spain (3) Sommet Education: adjusted sales (4) Outside Italy


FY 2016 Results 58

% of Control

% of Interest

2016 sales (€m)

% International

49.7% 34.8% French leader in insurance brokerage specialized in building protection - (2) -

64.1% 33.6% Fourth-largest French group specialized in accommodation for the dependent elderly persons (medical senior nursing homes) 283 8%

76.3% 64.7% Global network of c. 1,900 franchised hair care and beauty salons 101 20%

42.9% 30.0% European leader in premium freight, specialized in urgent and critical shipment for automotive, industrial sectors and lab testing 170 59%

60.5% 51.2% Belgian Brasserie theme-based restaurant chain 117 0%

54.3% 38.0% Complementary brands specializing in home linen 98(3) 5%

51.9% 36.3% World leader in critical GPS applications 44(3) 88%

86.8% 60.8% Leading player in the design, manufacture and distribution of sutures and other single-use sterilized surgical devices 68 61%

77.1% 54.0% European leader in signaling and lighting for industrial and commercial vehicles 83 78%

MK Direct

(1) Outside France (2) AssurCopro will be consolidated as of January 1, 2017 (3) Orolia and MK Direct are consolidated since July 2016

(1)


% of Control

% of Interest Ranking 2016 sales

(€m) %

International

55.1% 53.0% French real estate investment company with downtown trophy assets in major French cities

Large operator in Lyon, Bordeaux and Marseille 51 (2) 0%

78.0% 77.6% Leading ready-to-wear wholesale center in Europe Located in Paris inner rim 18 0%

46.8% (3) 46.8%(3) Major player in renewable energies 44

70.4% 59.0% A platform dedicated to the hotel business Portfolio of 85 Accorhotels hotels in Europe 216 32%

(1) Outside France (2) Gross rental income (3) Since February 2, 2017 (vs 39.3% on December 31, 2016)

(1)

FY 2016 Results 59


Online market place for luxury goods and beauty products

A pioneer in electric vehicle fast chargers

Hi-tech company specialized in high power electronics solutions

The leading provider of cloud-based human resources service delivery solutions

Leading marketplace of pre-owned fashion and luxury products

Leading peer-to-peer lending platform in Continental Europe

FY 2016 Results 60


Independent investment company specialized in ‘capital and private debt’ financing to French SMEs and SMIs for development projects and transmission transactions.

Europe’s first investment and development platform dedicated to the asset management industry

Raise invests with minority capital on the long run in mid-cap companies with strong growth strategies

18.3% A private and independent investment bank founded in Milan.

Other

FY 2016 Results 61

GROUP COMPANIES’ DETAILED INFORMATION

Detailed information on

AccorHotels & Moncler

Deconsolidated from the Eurazeo scope since November 15, 2016 based on the June 30, 2016 accounts (as of Septembre 30, 2016 for economic revenue) due to the loss of significant influence following Colony’s decision to sell its shares and the end of the resulting joint action.

Moncler was deconsolidated from the Eurazeo scope since October 14, 2016 based on the June 30, 2016 accounts (as of September 30, 2016 for economic revenue) due to the loss of significant influence following the sale of a block of shares in September 2016 and the conclusion of a new shareholders’ agreement following the expiry of the previous agreement.

In €m FY 2016 FY 2015 PF Reported

change Comparable

change

Revenue 5,631 5,581 +0.9% +2.2%

EBITDAR % margin

1,781 31.6%

1,780 31.9%

+0.1% +1.5%

EBIT % margin

696 12.4%

665 11.9%

+4.5% +3.8%

Net debt 1,488 -194

In €m FY 2016 FY 2015 Change

Net sales 1,040.3 880.4 +18%

EBITDA Adjusted 355.1 300.0 +18%

% margin 34.1% 34.1%

Net debt 105.8 49.6 -52%

FY 2016 Results 64

o Robust growth at +39% • Supported both by organic (+19%) and M&A (+20%) • Organic sales driven by all categories and geographies • International representing 75% of topline in 2016

o EBITDA growth of +57% • Increased margin of EBITDA by 2,0 pts to 17,3 % • Proof of transformation towards a mix of publishing and distributions

59.8% % OF INTEREST

FULLY CONSOLIDATED

79.7% % OF CONTROL

In €m 2016 2015 Reported change Comparable change

Sales 377 270 + 39.5% + 18.5%

EBITDA 65 41 + 57.5% + 23.7%

% margin 17.3% 15.3%

Net Debt 224 125 + 79.5% + 79.5%

EBITDA proforma for 2016 acquisition: €78m

FY 2016 Results 65

2016 Full-Year Highlights

o Successful transformation • PF Sales €402m, multiplied by 3.2x between 2013 and 2016 • PF EBITDA €78m, multiplied by 6x over the same period • Leveraged below 3.0x EBITDA in 2016 proforma acquisitions (€78m)

o Transformation of a distributor into an IP-rich publisher • Over 2/3 of net sales from Games generated by owned IP in Dec-16 with world-class brands

like Ticket-to-Ride, Catan, Pandemic, Splendor, Spot-it!, Star Wars…

o Successful structuring of the company to support growth and globalization • High profile ExCom team with strongly committed managers • Intense structuring of most corporate functions

o M&A: 11 major acquisitions since end-2013, of which 4 in 2016 • 2016 acquisitions: F2Z (Canada), Heidelberger (Germany), Edge (France/Spain)

and Millenium (Spain)

FY 2016 Results 66

o Sales landed at €861m, down by 7.8% in 2016 • Mature countries recorded the poorest performance • Outside Europe, sales were up 1%

o EBITDA margin stood at 19.3%, down 2.1pt yoy • The decrease is due to the combined effect of sales decline and the devaluation of the Euro

against the US dollar as a significant part of products are sourced in US dollar while revenues are mainly Euro denominated

• The implementation of the efficiency plan partially compensated the profitability erosion

o Net cash position of €381m, increasing by €83m yoy

7.4% % OF INTEREST

EQUITY METHOD

10.0% % OF CONTROL

In €m 2016 2015 Reported change

Net Sales 861 933 -7.8%

EBITDA 166 200 -16.8%

% margin 19.3% 21.4%

Net cash position 381 298 +27.8%

FY 2016 Results 67

2016 Highlights

o Implementation of a comprehensive 2-year cost savings plan (“the efficiency plan”) • This plan has already delivered positive results in 2016

o Ongoing rationalization of the store network • This will be pursued in 2017

o Implementation of the first measures foreseen by the Transformation Plan • Revitalization of the collections thanks to

- A new segmentation by wear purpose & increased innovation in order to meet customer needs - Several drops in shops by collection in order to create additional newness and pull traffic

• The first results should start being visible in H2 2017, especially in the Fall-Winter collection

o Strengthening of the management team • Alberto Ojinaga has joined Desigual in 2016 as Chief Corporate Officer • Announcement of David Meire as new Chief Client Officer

- Former General Manager of Retail in Europe at Nike where he spent 17 years and held various positions

FY 2016 Results 68

14.2% % OF INTEREST

EQUITY METHOD

23.3% % OF CONTROL

o Revenue growth and EBITDA margin in line with expectation despite the impact of terrorist attacks in France • Revenue: €1,512.8m (+6.9% of which +2.7% organic growth). At constant exchange rate: +7.4% • EBITDA: €467,9m, with EBITDA margin of 30% • Slight decrease of EBITDA margin in France • Further improvement of EBITDA margin in Europe and in Latin America

o Improved financial structure, investments well controlled and strong improvement in each generation • Lower interest charge following the refinancing in H1 2015 • Net result increasing at €108.2m • Free cash-flow at €104.5m, up €47.6m

In €m FY 2016

FY 2015 Reported change

Revenue 1,513 1,415 +6.9%

EBITDA % margin

468 30.9%

446 31.5%

+4.9%

Adj. EBIT % margin

215 14.2%

208 14.7% +3.2%

Net debt 1,596 1,440

FY 2016 Results 69

2016 Full-Year Highlights & outlook

o Acceleration of international development with 2 major acquisitions in Spain and Brazil • By acquisition of Indusal, Elis doubles its size in Spain with revenues of c.180m

on a full-year basis(1) and becomes market leader with more than 25% market share • By acquisition of Lavebras, Elis consolidated its leadership position in Brazil

with more than 25% market share and revenues of c. €220m on a full-year basis(1)

o Further consolidation in Germany • January 2016: Acquisition of 2 laundries serving mainly Hospitality and Healthcare clients • December 2016: Acquisition of Puschendorf • Elis becomes n°6 player in Germany

o December 2016: Elis enters the Colombian market

o 2017 Outlook • Revenue: above €1.7bn (excluding Lavebras contribution); group organic growth comparable

to 2016 level; working assumptions do not factor any activity pick-up in France • EBITDA margin: stable in France; new improvement in Europe and in Latin America

(1) Calculated based on 2016 revenues, proforma of the full-year effect of the acquisition of Indusal and Lavebras

FY 2016 Results 70

o Strong revenues amounted to €2,151 million, up +3.0% at constant exchange rates • Positive growth across all the Group’s major business unites with Cars growing by 1.7%,

Vans & Trucks growing by 0.7% and InterRent growing by an impressive +74% • The number of rental days increased to 59.9 million in 2016, up +4.9% • Revenue per rental day decreased by -1.7% at Group level due to strategic shift in Vans & Trucks

o Adjusted Corporate EBITDA of €254 million, up +3.2% at constant exchange rates • Adjusted corporate EBITDA margin up 10 basis points to 11.8%

o 2016 revised guidance delivered

In €m FY 2016

FY 2015 Reported change Comparable change

Revenue 2,151 2,142 +0.4% +3.0%

Adj. Corp. EBITDA

% margin

254

11.8%

251

11.7%

+1.3%

+3.2%

Corp. Net debt 220 235

42.4% % OF INTEREST

EQUITY METHOD

48.7% % OF CONTROL

FY 2016 Results 71


o Recent Customer Journey initiatives deliver encouraging results

o Newly implemented corporate organization by Business Unit • Better response to customers’ needs and expectations • Better anticipation of the industry’s wider challenges • Better focus on increasing the market penetration

o M&A strategy starting to unfold in 2016, totally investing €47m in 2016 • Franchisees: Customer-base & value accretive deals with rapid integration processes & swift

synergy deliveries; Locaroise in France in March; Ireland in December • New Mobility Services: Aim to enhance Europcar’s penetration in new mobility business models;

Investments made include BlueMove in Spain, Guidami and Wanderio in Italy, Brunel in the UK

o 2017 Priorities • Placing the Customer Journey at the heart of the Group’s digital strategy • Building commercial momentum across all the Group’s business units • Accelerating online / mobile revenue & direct-to-brand growth

o 2017 Guidance • Accelerating organic revenue growth, i.e. >3% • Increase in adjusted corporate EBITDA margin (excluding New Mobility), i.e. >11.8% • A corporate operating free cash flow conversion rate > 50% • A dividend payout ratio >30%

FY 2016 Results 72

o Robust performance in 2016, with revenues up +5.6 % at €223m and +8.4 % at constant FX and perimeter • Strong resilience of Fintrax business model in 2016 despite a less promising tourism industry

in Europe thanks to : - A dynamic commercial policy with contract wins in Tax Free Shopping and Dynamic Currency Conversion - Operational actions to increase both TFS and DCC service penetration

• Strengthening of business organization • Investment in innovative technology and geographic expansion with the acquisition of e-TaxFree

o 2016 EBITDA of €43 million, up +3.8 % vs 2015, representing a +8.7 % growth at constant FX and perimeter

o Net debt of €238 million as of 31 December 2016

72.4%* % OF INTEREST

FULLY CONSOLIDATED*

90.7% % OF CONTROL


Sales 223 212 + 5.6% + 8.4%

Ebitda 43 41 + 3.8% + 8.7%

% margin 19.1% 19.4%

Net Debt 238 230

(*) Fully consolidated from January 1, 2016

FY 2016 Results 73


o Tax Free Shopping vouchers up 8% in 2016 • Strong performance seen in Spain, Germany and Italy • Lower tax free spending in France, due to lower tourist inflows mainly from China and

the Middle East and an unfavorable retailer mix effect on the average transaction value, but recovery observed at the end of the year

o Solid evolution of the DCC business • Fueled by organic growth as well as new contract gains in various geographies

o 2016 key achievements • Pursuit of global development while reinforcing the operational structure • Acquisition of e-TaxFree, the Finnish tax free company offering Europe’s first paperless

tax refund solution, allowing Fintrax to enhance its footprint in the Nordic region and providing an innovative technology

• Contract wins both in TFS and DCC, sustaining 2016 results and securing 2017 pipeline • Launch of initiatives aiming to increase digitization, improving customer experience

and delivering value-added services to merchants

o Priorities for 2017 • Continued focus on driving organic income growth, sustaining the momentum of contract wins

and enhancing TFS and DCC service penetration • Targeting specific investments to structure the company, drive innovation and lead to future growth • Broadening business and geographic presence through the analysis of M&A opportunities

and operational partnerships, notably in Asia

FY 2016 Results 74

o Strong 2016 topline growth

o 2016 net revenue up +9.5% at €155m**

• Steady ramp-up of existing network of nurseries and 90+% client retention

• Organic net opening of 42 new nurseries (+11.4% available cradles) - Well balanced on all three segments: regular nurseries, public service delegations and micro-nurseries

• Solid rise of our partner program: more than 800 independent nurseries are members

• Margins in line with historical and projected levels


EQUITY METHOD

41.1% % OF CONTROL

In €m 2016 2015 Reported change

Sales 155 142 + 9.5%

# cradles 8,573 7,693 + 880

(*) Equity accounted from April 1, 2016 (**) Figures do not include minority stake participations in France nor international development

FY 2016 Results 75


o Implementation of international expansion plan:

• Acquisition of a minority stake in Infanterix in Germany (with subsequent calls up to 100%) offering c. 520 cradles in 9 nurseries in Munich, and sales of c. €7.7m; beyond entering into a new promising geography, this acquisitions brings to the group expertise in multilingual nurseries as well as on the 4-6 years-old age group

• Acquisition of 100% of Magic Nurseries in the UK as a quality platform for childcare sector consolidation; the chain has 16 nurseries North of London and in the Midlands, and sales of c. €11m. It welcomes daily 1,100 children between 0 and 6 years old, thanks to 300 dedicated employees

Les Petits Chaperons Rouge have also worked hand in hand with the French administration and certification group SGS Qualicert to create the first quality label for private nurseries in France – called “Crèch’EXPERT” – and are actively certifying the groups’ nurseries

FY 2016 Results 76

o Steady external growth

o 2016 Revenue up +5.9 % at €1,608 m and +5.5 % growth at constant FX and perimeter

o 2016 EBITDA up +1.0 % at €93 m and -3.5% contraction at constant FX and perimeter • Negative effects of the economic situation in Brazil, impacting margins, and a lag in EMEA’s activity • Good performance in Asia, mainly in Vietnam and in the recently acquired business in Philippines,

as well as in Mexico and Additives & Ingredients • Negative impact of the continued French agricultural difficulties, especially in milk production (premix)

o 2016 Net Debt at €177m, i.e. 1.8x leverage • Continued portfolio development and balancing through external growth • Capex investments in the development of the industrial facilities

13.0% % OF INTEREST

EQUITY METHOD

17.3% % OF CONTROL

in €m 2016* 2015* Reported change Comparable change

Sales 1,608 1,518 + 5.9% + 5.5%

EBITDA 93 92 + 1.0% - 3.5%

% margin 5.8% 6.0%

Net Debt 177 91 (*) Calendar year

EBITDA LTM pro forma for recent acquisitions: €99m

FY 2016 Results 77


o M&A • Further strengthening in the Philippines with the acquisition of a recognized player in feed:

Popular Feedmill Corporation • Acquisition of Agrindustria to develop analysis laboratories business in Italy • Strengthening in the specialty additives business through the acquisitions of Daavision

and a majority stake in Keybio • Development in Chinese petfood with the start in early 2017 of exclusive negotiations

to acquire the assets of Sanpo (2017) • Continued expansion in Brazil with the acquisition of Nutrizon • Expansion in South Africa with the acquisition of Pennville • Smaller acquisitions in aquaculture and niche horse products with Acui-T and Agranix

o Launch of Neovia Venture • With 5 million euros, Neovia Venture aims to take minority interests in innovative companies,

related to its 5 priority innovation fields: interactive petline, smart farming, intensive aquaculture, optimization of resources and functional ingredients

• 2016 has seen Neovia Venture’s first investment in Equisense (connected objects for the equine market), followed by Pitpatpet Ltd (pet telematics) in early 2017

o Organization • Continued investment in R&D and headquarters capabilities to support the group’s expansion

FY 2016 Results 78

o Revenues of €638m, down 0.7% on a reported basis and down 3.5% at constant scope and exchange rates • This decline was principally due to falling sale prices for certain products indexed to oil prices

(no impact on margin)

o Stable EBITDA in 2016 at €92m (compared to 2015 EBITDA at constant perimeter) • The Pharma & Cosmetics division was affected by a difficult market environment

on the Para Aminophenol (‘PAP’, intermediate for the production of paracetamol) and lower volumes on some other products

• The Mineral Specialties and the Performance Chemicals divisions performed well

o Novacap’s net debt amount to €427m, resulting in a 4.7x leverage • Increased by €16m compared to H1 2016 following important growth capex recorded in Q4

for the construction of the new sodium bicarbonate plant


FULLY CONSOLIDATED

65.8% % OF CONTROL


Net Sales 638 642 -0.7% -3.5%

EBITDA 92 86 +6.7% -2.1%

% margin 14.4% 13.4%

Net debt 427 n.m(1) n.m n.m

(*) Fully consolidated from June 30, 2016 (1) Debt financing package pre Eurazeo acquisition

FY 2016 Results 79


o Construction of the new sodium bicarbonate plant in Singapore is well on track • Expected to start production in April 2017

o Continued innovations to fuel downstream developments • Novacap was awarded the Pierre Potier Prize for the innovative isopropyl acetate

production process developed by the Performance Chemicals division

o Successful repricing of Novacap’s financing costs, reduced by 75bps

o Progresses on CSR initiatives focused on carbon emissions reduction, improving the energy mix and continuing the focus on security on production sites

FY 2016 Results 80

o Smooth transition ongoing from Laureate, with expected go-live in the coming weeks

o Adjusted Revenues and EBITDA globally in line with expectations in FY16, with revenues slightly declining vs FY15 (-2.0%)

o Adjusted EBITDA down -9,9% at CHF 25.1m • Impact of ongoing transition and lower new enrolments achieved in recent intakes following

lack of leadership, investment and communication efforts over the last months of previous ownership

o Net debt at CHF 119.2m • 4.7x leverage at year-end


FULLY CONSOLIDATED

99.9% % OF CONTROL

In CHFm 2016 2015 Reported change Comparable change

Adjusted Sales 164 168 - 2.0% - 2.0%

Adjusted EBITDA 25.1 27.9 - 9.9% - 9.9%

% margin 15.3% 16.6%

Net Debt 119.2

(*) Fully consolidated from July 1, 2016 Sales and EBITDA are adjusted to eliminate the exceptional positive impact linked with Change in academic calendar as well as to take into account the cash impact of some items on profitability. The reported change is calculated on reported data which are already adjusted for those elements, leading consequently to Reported change being ion line with Comparable change.

FY 2016 Results 81


o Recruitment of a strong and complementary international management team • New CEO: Benoît-Etienne Domenget (former CEO of Michel Reybier Hospitality) • New COO: Fabien Fresnel (coming from Ecole Hoteliere de Lausanne) • VP Marketing and Enrolment: Pete Shemilt (former head marketing and enrolment strategy of CEG) • Ensuring relocation of HQ functions in Europe, closer to the business

o Finalization of carve out on track with no major issue identified to date • Creation of an ad hoc organization (IT and Finance) to manage all carveout issues • Full leverage of Eurazeo corporate team over the past 6 months (PMO, Internal audit, Digital,

CSR, Controlling, Treasury…) • Weekly PMO steering committees to ensure successful transition • Ongoing IT transition

o Strengthening of Finance department team and processes • New Shared Service Center implemented in Spain in January • Recruitment of treasurer • Implementation of monthly business reviews

o Reinforcement of Group organigram to improve Sales & Marketing capabilities and capture growth • Ongoing work performed on Sales & marketing following arrival of new VP Enrolment... • … With inherent delay before such measures are reflected in financial performance

FY 2016 Results 82


Financials

(€m) FY 2016 FY 2015 PF Like-for-like

change FY 2015 Reported change

Revenue 965.3 899.4 +7% 652.9 +48%

EBITDA(1)

% margin

126.9

13.1%

118.1

13.1% +7%

94.1

14.4% +35%

Net debt

Portfolio leverage

511.2

3.4x

313.5

2.9x

(1) Consolidated portfolio companies EBITDA

FY 2016 Results 84

Portfolio

As of December 31, 2016 As of December 31, 2015

Eurazeo Stake €284m

Under Management €414m

Eurazeo Stake €405m

Under Management €599m

FY 2016 Results 85


1,3

117,3

169,9

83,2

68,2

44,0

97,5

100,9

283,0

965,3

0,7

114,4

166,2

82,7

63,3

47,3

96,1

64,7

264,1

899,4

Change

+7%

+56%

+1%

-7%

+7%

+8%

+1%

• Diversification in homecare services for seniors : NHS closing in May and BALM in October – Total of 66 offices

• Total of 76 facilities (compared to 47 at the acquisition in sept. 2014), with 69 in France, 6 in Italy and 1 in Spain

2015 PF* 2016 Revenue (€m)

Other (*) adjusted for Cap Vert Finance sale, Flash Europe acquisition, MKDirect

and Orolia (both integrated in the consolidated accounts as at July 1st, 2016) AssurCopro will be consolidated as of January 1, 2017

• Acquisition in January 2016 of Coiff’Idis, French leader in professional care products (revenue of €35 million)

• On a like for like basis, sales are stable

• Recovery (except in Paris) of the attendance (+4% in like for like whereas market is at -3%).

• Openings of Léon de B. in Paris (bd MacDonald – 19e), and Pau (Léon de Bruxelles)

• Good performance overall both in France and abroad • Diversification of the offer with the acquisition of Vectec, in Dec. 2016,

specialist in laparoscopic single-use instrumentation.

• Expansion with the acquisition of CEA in Switzerland, specialized in safety products for special vehicles

• The group now has industrial facilities in Europe, North America and Asia to serve local on and off-road vehicle markets

• Acquisition of EF Express in Germany end of Jan. 2017 (significant German player) • Sale of non core subsidiary Biologistic • On a like for like basis, growth is +12% (excluding Biologistic)

+2%

+3%

• Posting double-digit Web sales growth for both brands • Acceleration of the planned number of store openings

• On September, finalization of the delisting of Orolia • Decrease due to postponements of major equipment projects over 2017

and an unfavorable baseline effect

FY 2016 Results 86



• Strong performance with group revenues almost doubling

• Italy successfully launched; Spain schedule for Q1 2017

• Several key recruitments at the Executive Committee level

• Continued trend in 2016 with solid growth and international expansion

• €58m raised in January 2017 to accelerate in the US and in Asia, either organically or through M&A

• Strong growth in saas revenue, almost doubling

• Step change with big international contracts signed in 2016 to fuel growth in 2017

• Key recruitments at the Executive Committee level in the US

• Acceleration in 2016, building upon the trend in 2015

• Addition of new boutiques and flagship brands

• Recruitments of very talented people, such as Natalie Massenet

• 26% growth in 2016, notably thanks to the fast development of EV external chargers

• Successful start of the JV in China with first significant orders

• Promising growth in Europe and in the US

• Continued development of mining and O&G asset porfolio.

• Recruitment of a dedicated team in O&G

• Recovery in mining and energy which were at historically low prices

• Breakthrough contracts in manufacturing

FY 2016 Results 88



FY 2016 Results 90

• Second investment for Eurazeo Patrimoine as of June 30th 2016

• Acquisition value of €504m, equity investment for Eurazeo Patrimoine of c. €130m for 55% of the capital following €35m syndication

• Good performance and proved resilience of the activity under challenging market conditions

• Progressive launch of the capex plan through the portfolio

• First investment for Eurazeo Patrimoine as of June 30th 2015

• Increase in asset value leading to a NAV of €47m, vs equity investment for Eurazeo Patrimoine of €26,5m for 78% of the capital

• Strong cash flow generation and financial performance over 2016

• Strong growth of rental income (+4%)

• Improved profitability: EBITDA margin of 74% at end of 2016, recurring EBITDA of €39m, a +9% increase compared to 2015

• A comprehensive skill set to optimize value creation

• Third investment for Eurazeo Patrimoine as of February 2nd, 2017

• €78.9m equity investment for Eurazeo Patrimoine for 47% of the capital (entry price equal to EZ Croissance exit price, plus transaction costs)

• Eurazeo Patrimoine team: Post hiring of a new Associate in October 2016, the team is composed of 4 professionals, combining a solid corporate finance and real assets experience


o Earnings exceeded target along with an increased rental income • Adjusted EPRA Earnings at €16.3 million, a +12% increase exceeding target of +10% (IFRS -€3.7 million)

• FY 2016 Rental Income improved by +4% (Like-for-Like –2%)

• Share of commercial real estate rental income amounting to 84%

o Improved profitability, recurring EBITDA and Cash Flow • EBITDA margin of 74% at end of 2016, recurring EBITDA of €39 million, a +9% increase compared to 2015

• Recurring Cash Flow of €24 million, a +15% increase compared to 2015, or 1.02 €/share after minority interests

o Asset rotation, ignition and deliveries of new projects • €60 million high yield investments opposed to €90 million low yield assets sold:

rental yield of core projects +200 bps higher than yields of assets sold

• Deliveries of 13 100 sqm offices fully let in Lyon and 3 hotels (€59 million)

• Acquisition of 31 500 sqm offices in Bordeaux, next to new train station (partnership with Foncière des Régions)

• Consolidated pipeline which amounts now to €198 million (ANF Share €138 million)

• Stable asset value of €1.1 billion at end of 2016

o A comprehensive skill set to optimize value creation • Partnership signed with Vinci Immobilier to develop assets in Bordeaux, increasing value from operations

• Increasing exposure to high yield hotels through acquisition of Eurazeo’s share of ANF Immobilier Hotels

• Expanding operations to Toulouse, 3rd office market in France

FY 2016 Results 91

Financials

IFRS (in €m) 2016 Reported Change 2015 Reported 2014 Reported

Gross Rental Income 51.2 +4% 49.2 40.1

EBITDA 37.8 +17% 32.2 24.4

% margin 74% +800bps 66% 61%

Recurring EBITDA 38.8 +9% 35.6 27.0

% margin 76% +400bps 72% 67%

Recurring cash flow 23.6 +15% 20.6 14.8

RCF per share* 1.02 0.84 0.80

(In €m) 2016 Reported 2015 Reported 2014 Reported

Real Estate portfolio 1,068 1,101 1,107

Net Debt 452 474 526

NAV per share 28.4 29.6 30.1

Triple Net NAV 27.3 28.5 28.4

LTV 41.90% 43.00% 47.50%

FY 2016 Results 92


o Stable, defensive and resilient cash flow stream, allowing for an efficient financial operation

o Strategic location in the heart of the wholesale district of Aubervilliers

o High quality, modern building compared to the surrounding wholesale centres

o Leading and internationally recognized site, with a unique and differentiated positioning

CIFA key advantages

Perspectives / Valuation

o Solid rental income is warranted by: • prime asset situation within its sector • high tenant captivity • low deficiency rate (unpaid rents)

o Yet low rental growth is forecast due to the almost full occupancy rate of the building and projected low indexation rate

o Net Asset Value as of December 31, 2016 of €47m (up 38% from equity value at acquisition), mainly driven by deleveraging out of cash flows

2016 Key financial data

€47m Net Asset Value

7.2% net acquisition yield (ie NOI / EV)

85% leverage on cost with a 12 year loan

Eurazeo Patrimoine: €26.5m investment, for a 78% ownership

RoE before debt amortization of 30%

Revenues 2016: €18.1m Rental income 2016: €15.2m

Banks Real estate leasing

Wholesalers

Rents

100%

Seller CIFA: Centre International France Asie

FY 2016 Results 93


61

9 2 3

4

4

1 1

Mapping of the hotels

Hotels 85

Rooms upscale midscale budget

9,125 1.1%

45.9% 53.0%

Total revenues (€m) 216.3

GOI (€m) % margin

75.2 34.8%

2016 Key financial data • Acquisition of a significant pan European portfolio of 85 budget and mid-range hotels, most of which located in France (69 % of revenues) and in major European cities - Proprietary transaction negotiated off market with Accor,

which holds a 30% stake of the capital

• Hotels grouped within a newly created platform, dedicated to the hotel business, and headed by a team of experienced professionals

• Main axes for significant value creation: - Strategic repositioning and performance improvement - Switch from a model where misalignment of interests between owners

of freeholds and leaseholds has led to significant under-investment, to an integrated model

- Massive capex plan and productivity enhancement - Dynamic asset and hotel management led by a light non-AccorHotels

structure - Market risk mitigation thanks to geographical and product diversity across

the portfolio - Hotels under various AccorHotels brands (franchise contracts)

• Acquisition of 57 hotels freehold from Foncière des Murs, Axa and Invesco, alongside with all the leaseholds and 28 of the freeholds from AccorHotels

• Opportunity to further develop the portfolio, through other acquisitions

FY 2016 Results 94


2016 Key financial data

(in MW) Dec-16 % total

France (Group share) 81 76% o/w CRE 3 18

International 26 24% Humacao Phase 1 26 Humacao Phase 2 -

TOTAL 107 100%

Revenues (€m) 43.6 EBITDA (€m) % margin

30.6 70.2%

Capital structure

100% Fonroche Energie

Solar (b)

100%

47% 53% NewCo

• Split of Fonroche Groupe, with the full exit of the founders who keep Biogaz and Geothermal branches

• Spin off of the Solar branch (France + International) in February 2017 - Entry of Infravia who acquires 53% of the share capital of Fonroche

Solaire

- Transfer of the remaining 47% of the capital to Eurazeo Patrimoine

• From a France-focused asset base to an international portfolio - 157 owned power plants: 63MW production

(group share, 76MW total)

- 63MW won through CRE3 RfP (9 plants / 18MW developed to date)

- First phase of Puerto Rican project fully operational (26MW)

- 1 photovoltaic modules assembly plant in France

• Main axes for significant value creation: - Optimization and strengthening of the management platform - Build up of French capacity under CRE schemes

- Development strategy focused on Latin America - Selective approach on international projects

• Opportunity to refinance at the group level

FY 2016 Results 95


• Two new partners promoted; new hires recruited by investment team

• Successful closing of Capzanine 4 at €350m, of which €70m from Eurazeo

• AUM increases to €1.4bn: +45% since Eurazeo investment in June 2015

• Strong performance of 1st investment Polen Capital (+$3.5bn AuM since investment)

• 2nd investment in Dolan Mc Eniry, a $5.8bn AuM credit and high yield value asset manager

• Acquisition of a Paris-based asset management firm to set up global distribution platform

• €52m 2nd commitment from investors

• Eurazeo Capital II closed at €500m in December 2016

• Top international investors subscribe to Eurazeo’s unique long term growth model (Europe: 73%, North America: 15%, Asia: 12%)

• €9m annual fees (excluding performance fees) proforma for Eurazeo Capital II and Eurazeo PME funds

• 5 investments

• 1 exit

• €350m raised as of December 2016


Fund Management

FY 2016 Results 97

OTHER

A long-term shareholder base and a strong corporate governance

Crédit Agricole 15.4%

Sofina 5.5%

Concert(1)

17.4%

Joliette Matériel 2.2%

(1) Concert as of December 31, 2016 (2) Including 3.5% of treasury shares

Free float(2)

59.5%

SHAREHOLDING STRUCTURE

As of December 31, 2016

A STRONG CORPORATE GOVERNANCE

• Separation of the roles of Chairman and CEO

• Independence of the Supervisory Board: 8 independent members out of 15

• Audit Committee, Finance Committee, Compensation and Appointments Committee, CSR Committee

• Existence of a shareholder agreement between founding families (“Concert”, former SCHP)

FY 2016 Results 99

Financial Agenda

May 11, 2017 1st Quarter 2017 Revenues

July 27, 2017 1st Half 2017 Results

November 10, 2017 3rd Quarter 2017 Revenues

May 11, 2017 Annual Shareholders’ Meeting

FY 2016 Results 100

About us

Investor Relations Caroline Cohen

• [email protected] + 33 (0)1 44 15 16 76

Communication Anne-Marie Cravero • [email protected] + 33 (0)1 44 15 80 26

• ISIN code: FR0000121121

• Bloomberg/Reuters: RF FP, Eura.pa

• Indices: SBF120, DJ EURO STOXX, DJ STOXX EUROPE 600, MSCI, NEXT 150, LPX Europe, CAC MID&SMALL, CAC FINANCIALS

• 69,704,094 shares in circulation as of Dec. 31, 2016

• Statutory threshold declarations 1%

• Goldman Sachs Matija Gergolet Philip Richards

• Exane BNP Paribas Raphaël Veverka

• HSBC Pierre Bosset

• JP Morgan Cazenove Christopher Brown

• Kepler Cheuvreux David Cerdan

• Natixis Céline Chérubin

• Oddo Christophe Chaput

• SG Patrick Jousseaume

www.eurazeo.com

EURAZEO CONTACTS RESEARCH ON EURAZEO

EURAZEO SHARES

FY 2016 Results 101

Documents

A SOLID 2016 MULTIPLE INITIATIVES TO CREATE VALUE · > Build a global footprint > Increase IP content > Build a digital offer > Recruitment of talented staff bringing new skills to