Eurazeo / 2019 Universal Registration Document

Financial Statements Consolidated Financial Statements for the year ended December 31, 2019

GENERAL PRINCIPLES NOTE 1

The consolidatedfinancial statementswere authorized for publication by Eurazeo's Executive Board on February 28, 2020. They were reviewed by the Audit Committee on March 4, 2020 and by the Supervisory Boardon March 11,2020. The consolidatedfinancial statementsinclude the financial statements of Eurazeo and its subsidiaries and associates, for the year to December 31. In the case of subsidiaries or associates with fiscal years ending on a date other than December 31, the consolidated financial statements use accounts covering the period from January 1 to December 31. The financialstatements of all subsidiaries and associates accordingly cover the same period as those of the parent company and are prepared in accordancewith IFRS. Adjustmentsare made to bring into line any differencesin accounting policiesthat may exist. 1.1. When preparing its consolidated financial statements, Eurazeo must make estimates and assumptions that affect the carrying amount of certain assets, liabilities, revenue and expenses and can have an impact on the information contained in the Notes to the financial statements.Eurazeo regularly reviews these estimates and judgments, taking into consideration past experience and other factors deemed relevant in light of economicconditions. Depending on changes in those assumptions or if conditions vary from those anticipated, amounts in future financial statements could differ from the current estimates. Critical estimatesand judgment

The estimates and assumptions adopted for the preparation of the financial statements for the year ended December 31, 2019 concern: the fair value of identifiable assets and liabilities and contingent • liabilities for the purpose of allocating the goodwill (see Notes 1.2 and 6); the recoverable amount of goodwill and intangible assets with an • indefinite life(see Note 6); the recoverable amountof investments inassociates (seeNote 8.1); • the fair valueof financialassets (see Note 8.2). • Presentation of restatedcomparative 1.2 financial statements The comparative financial statements (balance sheet, income statement and statement of cash flows) for the year ended December 31, 2018have been restated for the allocation of goodwill, mainly for the Idinvest and Rhône Group acquired in the first half of 2018. Eurazeo Group elected to apply IFRS 16 using the modified retrospective transition method and, as such, the restated comparative financial statements were not impacted (see Note 16.1, Adoption of IFRS 16).

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2019 UNIVERSAL REGISTRATION DOCUMENT