Eurazeo / 2019 Universal Registration Document

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

financial instruments designated as cash flow hedges: impact on • the fair value of the instrument recognized in hedging reserves in equity; non-derivative floating-rate financial instruments (not hedged): • impact ontotal finance costs,gross; interest rate derivatives not qualifying for hedge accounting • (interest rate swaps, caps, etc.): impact on fair value with gains and losses recognized inprofit or loss. The following table presents the impact on Eurazeo group net finance costs and equity (before tax) of a 100 basis point increase or decrease in interest rates and assumingan instant impact, parallel across the full length of the curve, occurring from Day 1 of the fiscal year and remainingconstantthereafter:

Interest rate risk 9.5.2. The Eurazeo group is exposed to interest rate risk (the impact of interest rate movements on the net financial expense and equity). Managementactivelymanagesthis exposureto risk using a number of derivative instruments. The purpose is to reduce fluctuations in cash flow resulting from changes in interest rates, where the Company deems itappropriate. Account is not taken of fixed-rate financial instruments measured at amortizedcost when calculating sensitivity to interest rate risk. Changes inthe yield curveimpact financialinstrumentsas follows:

+ 100bp

- 100bp

Hedging reserves

Netfinancial expense

Hedging reserves

Netfinancial expense

Nature (In thousandsof euros)

Financial instruments designatedas hedging instruments Non-derivative floating-rate financial instruments (not hedged) Interest-rate derivatives (not qualifying for hedge accounting)

6

6,315

(2)

(6,241)

(4,488)

-  - 

3,972 (551) 3,419

-  - 

292

IMPACTTOTAL(BEFORETAX)

(4,190) + 100bp + 100bp

6,315 0.0%

(6,241)

Sensitivityof equityto changes ininterest rates

- 100bp - 100bp

0.0% -2.7%

Sensitivityof netfinance costs to changes in interest rates

2.8%

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