EURAZEO_REGISTRATION_DOCUMENT_2017

2 CSR in the investment policy

EURAZEO’S CORPORATE SOCIAL RESPONSIBILITY

Restitution to stakeholders 3. Following the performance of CSR analyses coordinated by Eurazeo’s CSR Department, restitution is scheduled first of all with the investment team in charge of the review of the target company. One of its main purposes is to specify the points to be given top priority during in-depth due diligence carried out internally or externally. The summary is discussed during the presentation of the target to the Investment Committee. 4. During the acceleration phase, an action plan is drawn up with the Company. It is prepared on the basis of the material challenges identified during the identification phase, and includes the seven essential commitments underpinning Eurazeo’s CSR strategy. These essential commitments are to: appoint a CSR manager; • establish annual CSR reporting; • create an operational CSR Committee; • include CSR issues on the agenda of Board meetings at least once • a year; conduct an environmental and/or greenhouse gas assessment • every three years; perform a social barometer every three years; • conduct CSR audits of priority suppliers. • The “7 essentials” incorporate annual CSR reporting of more than 160 indicators covering all environmental, social, societal, supply chain and governance issues. 17 of these indicators are dedicated to energy and climate issues, such as the measurement of CO 2 emissions on the three scopes and the ratio of carbon emissions to EBITDA. This indicator facilitates the annual monitoring of the improvement in the investments’ carbon footprint from one year to the next. The results relating to the measurement of the greenhouse gas emissions of the investments are set out in Section 2.4.4, p. 118 in accordance with the Grenelle II law to which Eurazeo is subject. Monitoring and rollout of action plans

2020 objective: 100% of companies to perform CSR reporting (1) . Setting CSR progress targets is also part of the 7 essentials. These objectives must include at least a carbon, a social, a supply chain and a governance objective. At the end of 2017, several investments had quantified CSR targets including a specific commitment on carbon. Examples include: Elis: 25% reduction in energy consumption by 2020; • Vignal: 15% reduction in CO 2 emissions as a proportion of sales • between 2015 and 2020. 2020 objective: 100% of investments to have quantified CSR targets (1) This objective is part of action plans designed in a process of continuous improvement with perspectives reaching beyond Eurazeo’s investment horizon. On certain issues such as the climate, commitments and action plans need to take a long-term perspective. Eurazeo is currently assisting some of its investments in establishing carbon trajectories for the years to 2030 or even 2050, based notably on the methodology provided by the Science Based Targets initiative. To monitor the deployment of specific action plans for each company, Eurazeo organizes at least three meetings per year with each of its investments, and ensures that CSR is placed on the agenda of a Supervisory Board and/or Audit Committee meeting at least once a year. 5. During the value enhancement phase, a complete new overview is carried out on all criterea to measure progress since the acquisition by Eurazeo. If they are material, some challenges may also be the focus of a specific review in order to clarify any risks or opportunities beyond Eurazeo’s investment horizon. For instance, in early 2017, Eurazeo carried out a study on the sustainability of and potential changes in a company’s supply of raw materials, as some sectors may be subject to variations due to climate change. 2020 objective: 100% of divestments to incorporate CSR information. Value enhancement

Taking companies into account from the end of the second full year of ownership at the latest. (1)

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2017 Registration document

Eurazeo