Eurazeo / 2019 Universal Registration Document

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

CONSOLIDATION SCOPE NOTE 2

Eurazeo Patrimoine On March 12, 2019, Eurazeo acquired Euston House, a London office building. This investmentis fully consolidated from April 1, 2019 2019 revenue and EBITDA of this new investment are €5.0 million and €3.7 million, respectively. On July 23, 2019, Eurazeo acquired a stake in the Emerige group. This investmentis equity-accountedfrom July 1, 2019 in the amount of 44%. Eurazeo Brands On February 20, 2019, Eurazeo acquired a stake in Bandier. This investment is equity-accounted from February 3, 2019 in the amountof 28%. On April 4, 2019,Eurazeo acquireda stake in Q Mixers. This investment is equity-accounted from April 1, 2019 in theamount of 32%. On December 5, 2019, Eurazeo acquired a stake in Herschel. This investment is equity-accounted from December 31, 2019 in the amount of 15%. Eurazeo Development On July 18, 2019, Eurazeo acquired a stake in MCH. This investment is equity-accounted fromJuly 1, 2019in the amountof 25%. Assets and liabilities classified as held for sale as of December 31, 2019 include certain assets and liabilities of Eurazeo PME group investments,one of the Asian businessesof the Seqens group and the assets of CIFA Asset and CIFA 4 Asset (sold on February 18, 2020). Accordingly,the off-balancesheet commitmentsconcerningthe CIFA Asset leasefinance agreementare no longer includedin Note 14.2. Assets and liabilities classified as held for sale as of December 31, 2018 concerned the assets and liabilities representing the investment in Neovia group, Capzanine shares and certain Asian businesses of the Seqens group. IFRS 5 reclassification–group of assets 2.2. classified as heldfor sale

The list of subsidiaries and associates is presented in the scope of consolidation in Note 15. Non-consolidated entities are not material compared with the consolidated financial statements of the companies included in the scope of consolidation. 2.1. The main changes in the scope of consolidation in the year ended December 31, 2019are as follows: Eurazeo Capital On April 25, 2019, Eurazeo acquired DORC group (Dutch Ophthalmic Research Center). This investment is fully consolidated from May 1, 2019. On May 23, 2019,Eurazeo lost its significant influence in the Elis group, following the loss of a seat on the group’s Supervisory Board. The Elis group was therefore deconsolidated from this date based on its reserves as of January 1, 2019. The remaining shares were sold on July 25, 2019, generating a consolidated capital gain net of disposal costs of €34.1 million (€20.4 million after the release of foreign currency translationreserves and costs). On September 17, 2019, Eurazeo acquired Elemica. This investment is fully consolidated fromOctober 1, 2019. 2019 revenue and EBITDA of the new investments totaled €178.3 millionand €52.3 million,respectively. Eurazeo PME On January 17, 2019, Eurazeo PME acquired the EFESO group. This group is fully consolidated from January 1, 2019. 2019 revenue and EBITDA of this new investmentare €81.8 millionand €12.7 million, respectively. Eurazeo PME sold its investment in Smile on July 1, 2019 and its investment in Léon de Bruxelles on October 30, 2019, generating a total capital gain of €32.6 million net of carried interests. The Smile shares were deconsolidated based on reserves as of June 30, 2019 and the Léon de Bruxelles shares were deconsolidated based on reservesas of September 30, 2019. Changes inconsolidationscope

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2019 UNIVERSAL REGISTRATION DOCUMENT