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

Herschelsub-group LegendreHolding75 LegendreHolding72

France France Canada

FC FC EA FC FC EA FC FC EA

100.00% 100.00%

95.60% Acquisition 95.60% Acquisition 14.34% Acquisition

Herschel

15.00%

QMixerssub-group LH Q Tonic Eurazeo Q US Blocker Inc

France

100.00% 99.95% 32.00%

99.40% Acquisition 99.35% Acquisition 31.79% Acquisition

United States United States

Q Mixers

Bandiersub-group LH Bandier

France

100.00% 100.00%

99.40% Acquisition 99.40% Acquisition 31.73% Acquisition

Eurazeo Bandier US Blocker Inc

United States United States

Bandier

31.92%

EurazeoGrowthstrategy AdjustGmbH

Germany

EA EA

16.94% 28.77%

14.26% Acquisition 22.65% Acquisition

Meero SAS

France

FC = Fullconsolidation. EA = Equityaccounted.

ACCOUNTING PRINCIPLES AND METHODS NOTE 16

limited amendments to IFRS 3, Definition of a business , applicable • to fiscal years beginning on or after January 1, 2020 (not adopted by the EuropeanUnion); the amendments to IAS 1 and IAS 8, Amendment of the definition • of material , applicable to fiscal years beginning on or after January 1,2020 (notadoptedby the European Union); IFRS 17, Insurancecontracts , applicableto fiscal years beginningon • or after January 1,2021 (not adoptedby the European Union). IFRS 14, Regulatory Deferral Accounts , applicable to fiscal years • beginning on or after January 1, 2016 (the European Commission has decided not to launch the adoption process for this standard considering ittransitional); the amendments to IFRS 10 and IAS 28, Sales or contributions of • assets between an investor and its associate/joint venture , (postponedby the EuropeanUnion to an undefineddate); the amendments to IFRS 9, IAS 39 and IFRS 7, Interest rate • benchmark reform , applicable to fiscal years beginning on or after January 1,2020 (notadoptedby the European Union); Eurazeo is currently determining the potential impacts of these new standards and standard amendments on the Group's consolidated financialstatements. The Eurazeo Group chose to apply the modified retrospective transition method on adopting IFRS 16. The lease liability is therefore equal to the right-of-userecognized in assets (adjusted for the effects of rent-free periods)(see Note 8.1). The followingpractical expedientswere applied: exclusion of contracts with aresidual termof less than 12months; • exclusion of leasesof low-value assets. • Adoption ofIFRS 16, Leases, with effect fromJanuary 1, 2019

Basis of preparationof the consolidated 16.1. financial statements The accounting principles used to prepare the consolidated financial statements are compliant with IFRS standards and interpretations as adopted by the European Union on December 31, 2019,and available on the website:http://ec.europa.eu/finance/company-reporting/ standards-interpretations/index_en.htm. The consolidated financial statements are prepared on an historical cost basis, except for investment properties, derivative financial instruments and financial assets which are measured at fair value. The financial statements are presented in euros, rounded to the nearest thousand.In certain cases, this rounding may lead to a slight differencein totalsand variations. The accounting principles adopted are consistent with those used to prepare the annual consolidated financial statements for the year ended December 31, 2018, updated for the adoption of IFRS 16 (see below) and the following standards which are of mandatory applicationfor fiscal years beginningon or after January 1, 2019.These standards did not have an impact on the financial statements for the year: the amendmentto IFRS 9, Prepaymentfeatures , applicableto fiscal • years beginningon or afterJanuary 1, 2019; IFRIC 23, Uncertaintyover incometax treatment , applicableto fiscal • years beginningon or after January 1, 2019;Amendmentsto IAS 28, Long-term interests in Associates and Joint Ventures , applicable to fiscalyears beginningon or after January 1, 2019; IFRS annual improvements (2015-2017 cycle), applicable to fiscal • years beginningon or afterJanuary 1, 2019; the amendments to IAS 19, Plan amendment, curtailment or • settlement , applicable to fiscal years beginning on or after January 1, 2019. The principles adopted do not differ from the IFRS as published by the IASB. In addition, the Group did not opt for early application of the following standards and interpretations not of mandatory applicationin 2019 in the European Union:

06

/ EURAZEO

287

2019 UNIVERSAL REGISTRATION DOCUMENT