Eurazeo / 2018 Registration document

CONSOLIDATED FINANCIAL STATEMENTS Notes to the Consolidated Financial Statements

FINANCING AND FINANCIAL INSTRUMENTS NOTE 9

Net debt 9.1 Net debt, as defined by the Group, breaks down as follows:

12/31/2018

(In thousands of euros)

Note

Gross debt

Cash assets (427,270) (17,808) (445,078)

Net debt (427,270) (17,808) (445,078)

Comments/Type of main covenants

Eurazeo

Other companies Investment activity

-

Idinvest

(7,817) (8,717)

(7,817) (8,717)

IM Global Partner

(13,088)

Eurazeo PME

(13,088)

Other companies

(2,257)

(2,257)

Asset management activity

-

(31,879) (36,848)

(31,879) (36,817)

Carambar & Co

31

Maturities: 2019 (credit facility), 2019-2025 (other loans) • Cov-Lite Loan •

398,882

(50,005)

348,877

Planet

Maturities: 2024 • Covenants: •

Iberchem

125,203

(19,600)

105,603

Net debt/EBITDA (1) •

Maturities: 2023 (credit facility) and 2025 (other loans) • Cov-Lite Loan •

Seqens

772,621

(85,566)

687,055

Maturities: 2023 • Covenants: •

Sommet Education

147,687

(26,030)

121,657

Net debt/EBITDA (1)

4

Capex (3) • Minimum cash amount •

Maturities: 2024 (credit facility), 2022 (revolving) • Cov-Lite Loan •

WorldStrides

483,839

(52,249)

431,590

Other companies Eurazeo Capital

5,142

(2,032)

3,110

1,933,405 (272,330)

1,661,075

Maturities: 2019 to 2028 • Covenants: •

Debt service coverage ratio • Net debt/EBITDA (1) • EBITDA (1) /net interest expense • Capex (3) •

Eurazeo PME Capital

772,437

(113,736)

658,701

Eurazeo PME

772,437

(113,736)

658,701

Nest

6,550 6,550

(341) (341)

6,209 6,209

Eurazeo Brands

Eurazeo

243

2018 Registration Document