Eurazeo / 2019 Universal Registration Document

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

Consolidation method

Changein consol.scope

Companyname

Country

% control

% interest

Oxbridge Academic Resources LLC WorldStrides International LLC

United States United States United States

FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC FC

42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10%

Explorica Inc.

Explorica Canada Inc. Explorica Travel Inc. Explorica U.K. Ltd.

Canada

United States

United Kingdom

Explorica S. de R.L. de C.V.

Mexico Sweden

Explorica Europe AB

Explorica Merida Holdings LLC Casterbridge Tours Limited Rhapsody Tours Limited Rhapsody Travel Limited

United States

United Kingdom United Kingdom United Kingdom

WorldStrides Travel Information Consulting (Shanghai) Co. Ltd. National Educational Travel Council LLC

China

42.10% 42.10%

United States United States HongKong British Virgin Islands HongKong

FawkesTravelInc.

-

Disposal

CBL InternationalManagement Limited

42.10%

Global EducationGroupHoldingInc. CBL InternationalAcademic Education Ltd. CBL InternationalOxbridge Programmes Ltd.

42.10% 42.10%

United Kingdom

-

Disposal

WorldStrides PTYLtd

Australia Australia Australia

42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% 42.10% -

SnowmanProperty Management PTY Ltd

WorldStrides PTYLtd

International StudiesAbroadLLC

United States United States

06

AGU LLC

Disposal

Asociacion Educativa Y CulturalISA– Peru

Peru

GlobaLinks –CanadaLLC

United States United States

GlobaLinks LLC

Gustavo Jose Artaza Programa de Estudios Internacionales EmpresaIndividualDe Responsabilidad Limitada International StudiesAbroad(ISA) Belgium sprl International StudiesAbroad(ISA) EnglandLimited International StudiesAbroad(ISA) Sociedad Anonima International StudiesAbroad(Thailand)Co. LTD International StudiesAbroadBrasil Intercâmbios Ltda. International StudiesAbroadEspaña Sociedad Limitada International StudiesAbroadInc PeruS.A.C. International StudiesAbroadIndiaPrivateLimited International StudiesAbroadJapan KabushikiKaisha

Chile

Belgium

United Kingdom

Costa Rica

Thailand

Brazil Spain Peru India Japan

International StudiesAbroadPragues.r.o. International StudiesAbroadPTY Ltd International StudiesAbroadS.A.S.

Czech Republic

Australia Colombia

International StudiesAbroadS.r.l.

Italy

Dominican Republic

International StudiesAbroadS.R.L.

FC

42.10%

FC = Fullconsolidation. EA = Equityaccounted.

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2019 UNIVERSAL REGISTRATION DOCUMENT