Eurazeo / 2018 Registration document

COMPANY FINANCIAL STATEMENTS Notes to the Company financial statements

LH Novacap (Seqens) of €6,580 thousand; • Legendre Holding 26 (I-Pulse) of €4,365 thousand; • Carryco Capital 1 of €3,503 thousand; • Carryco Capital 2 of €127,990 thousand; • Carryco Patrimoine 2 of €14,945 thousand; • Carryco Croissance 2 of €4,156 thousand. • The decrease in receivables mainly reflects the repayment of advances by: Legendre Holding 25 (Reden Solar) of €35,475 thousand; • Legendre Holding 19 (Accor) of €150,760 thousand; • Legendre Holding 44 (Planet) of €3,900 thousand; • LH Novacap (Seqens) of €2,121 thousand; • Legendre Holding 36 (IM Square) of €2,344 thousand; • Carryco Capital 2 of €4,746 thousand. • “Other changes” mainly consist of the capitalization of advances in investments of €304,936 thousand (see breakdown in point 1). Eurazeo PME Capital of €130,883 thousand; • Eurazeo Real Estate Lux of €6,165 thousand; • subscriptions to Capzanine funds of €25,031 thousand; • subscriptions to Idinvest funds of €58,439 thousand; • acquisition of “Performance fees” in the Rhône of • €48,193 thousand. Disposals mainly concern bonds and PECS sold under the Financière Truck Investissement (Fraikin) conciliation agreement of €31,755 thousand. Loan 4. The increase in this heading reflects the loans granted for: the investment in Pat McGrath of US$20,000 thousand, i.e. a • euro-equivalent of €17,304 thousand. This loan was transferred during the fiscal year; the investment in Albingia through the subsidiary, Financière de • l'Eclosion, of €84,200 thousand. 5. The “Treasury shares” heading comprises purchases and sales of shares under the liquidity contract. 118,925 shares were held as of December 31, 2018. “Treasury shares in the course of cancellation” reflect the purchase of 1,002,364 shares during fiscal year 2018. On December 21, 2018, 1,488,037 shares were canceled in the amount of €88,113 thousand. As of December 31, 2018, the Company held 281,199 shares in the course of cancellation, representing 0.4% of the share capital. Treasury shares Other securities holdings 3. Additions concern:

“Other changes” mainly consist of the capitalization of advances in investments of €304,936 thousand (see breakdown below) and the contribution of Rhône shares for €148,310 thousand: Planet (through Legendre Holding 44) for €74,310 thousand; • Idinvest (through LH GP) for €11,134 thousand; • Pat McGrath (through LH PMG) for €52,917 thousand; • IM Square (through Legendre Holding 36) for €40,354 thousand; • Eurazeo Real Estate Lux for €19,278 thousand; • The decrease in “Investments” is due to the removal of shares from assets and share capital reduction transactions performed on the distribution of premiums in addition to dividends received after disposals: Gruppo Banca Leonardo for €80,950 thousand, following the • disposal of the investment; Financière Truck Investissements (Fraikin) for €36,621 thousand • (divestment of all shares under a conciliation agreement dated February 15, 2018); Asmodee for €98,605 thousand following the disposal of the • company; Desigual (through Legendre Holding 29) for €96,495 thousand, • following the disposal of the investment; CPK (through LH CPK) for €19,745 thousand, following the • repayment of contributions; LH Open Road (Trader Interactive) for €40,953 thousand, following • the repayment of contributions; LH WS (WorldStrides) for €85,385 thousand, following the • repayment of contributions; the cost price of the following shares was reduced following the • divestment by Eurazeo of a 12% stake to Carryco Capital 2: LH Open Road (Trader Interactive) for €24,280 thousand, • LH Iberchem for €32,743 thousand, • LH WS (WorldStrides) for €38,109 thousand. • 2. The increase in receivables mainly reflects additional advances to: Eurazeo PME Capital of €96,452 thousand; • LH GP (Idinvest) of €121,134 thousand; • Eurazeo Patrimoine (C2S) of €103,083 thousand; • LH PMG (Pat McGrath) of €52,917 thousand; • Legendre Holding 65 (Albingia) of €231,228 thousand; • Legendre Holding 25 (Reden Solar) of €35,923 thousand; • Legendre Holding 36 (IM Square) of €41,426 thousand; • Receivables from investments Carryco Capital 1 for €11,164 thousand; • Carryco Capital 2 for €91,703 thousand; • Carryco Croissance 2 for €4,076 thousand. •

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LH Mano (ManoMano) of €35,047 thousand; • Eurazeo Real Estate Lux of €17,616 thousand; • Eurazeo North America of €7,046 thousand; •

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2018 Registration Document