Eurazeo / 2019 Universal Registration Document

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

Segment aggregatesfor the contributionof portfolio companies 3.2. The main performance indicators for portfolio companies are as follows: adjusted EBITDA (Earnings before interest, taxes, depreciationand • amortization); adjustedEBIT (Earningsbefore interestand taxes); • IFRS net debt •

Adjustments between operating income before other income and expenses and the income statement performance indicators mainly concern non-recurring items. These adjustments were calculated directly based on the IFRS contributions of each operating segment and can be reconciled directly with the published consolidated financialstatements.

Segment income statementfor the year endedDecember 31, 2019

Contribution of portfolio companies

Asset management activity

Investment activity

Eurazeo Capital

Eurazeo PME

Eurazeo Patrimoine

Eurazeo Brands

2019

(In millionsof euros)

Revenue

4,680.7

7.75 137.68 2,766.8 1,236.9 489.8

41.9

Contributionof investmentand assetmanagementactivities*

438.0 307.0

131.0

Other items

(14.5)

(14.4)

(0.1)

Operatingincomebeforeotherincome& expenses

778.2

292.6

130.9

182.6

103.4

66.5

2.3

Restructuringandtransition costs Acquisition costsandearn-out

34.2 9.4 3.7 17.5

- - -

1.2

- -

- -

Non-recurring employee benefits expense

0.1 1.8

Other non-recurring items

3.9

1.2

AdjustedEBIT

428.1

247.5

107.4

69.0

4.3

Charges to/reversals of deprec., amort. &provisions

261.4

155.8

58.0

45.8

1.8 6.1

AdjustedEBITDA

689.5

403.3

165.3

114.8

Impairment

(195.6)

-

Net income ofassociates

-

(2.2) (4.6)

Transaction costsandfinancial items Contributionof investmentandasset managementactivities

10.0

107.0 124.1 * Before impairment, transaction costsandfinancial items (for the investmentactivity) – before financial items andnet income ofassociates(forthe assetmanagementactivity).

Segment netdebt as ofDecember 31, 2019

Contribution of portfolio companies

Asset management activity

Investment activity

Eurazeo Capital

Eurazeo PME

Eurazeo Patrimoine

Eurazeo Brands

12/31/2019

(In millionsof euros)

Borrowings Cash assets NETDEBT

3,719.9

-

0.0

2,281.4

784.4

649.4

4.6

(1,092.3)

(535.4)

(50.3) (50.3)

(326.3) 1,955.1

(105.9) 678.6

(73.1)

(1.3)

2,627.5 (535.4)

576.3

3.3

Leaseliabilities IFRS NETDEBT

503.3

14.2

11.0

296.4

80.9

99.4

1.4

3,130.8 (521.3)

(39.3)

2,251.5

759.5

675.8

4.7

Detailed informationon debtmaturitiesand the type ofcovenantsis presentedin Note 9.1.

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