Eurazeo / 2019 Universal Registration Document

Activity during the year and outlook

INCOME STATEMENTBY BUSINESS 2.1.2 Eurazeo’sbusinessmodelhas significantlychangedin recentyearswith the development of third-party fund management. Strengthened in 2015, this activity represented66% of assets under managementas of December 31, 2019,following the acquisition of Idinvest and a 30% stake in RhôneGroupanda 25% takein MCHPrivateEquity.

In this context, Eurazeo adapted the presentation of its segment reporting to present aggregates enabling the valuation of asset management activities, in accordance with market practices. The income statement by activity forms an integral part of the notes to the financial statements pursuant to IFRS 8 and is reviewed by our statutoryauditors.

2019 689.5 428.1 236.1 107.0 124.1 (173.8) (25.0) (135.6) 132.9 122.9

2018 PF*

(In millionsof euros) Adjusted EBITDA

625.5 380.7 226.4 253.9

Adjusted EBIT

1.

Contributionof portfoliocompanies,netof financecosts Contributionof theinvestmentactivity Contributionof theassetmanagementactivity Amortizationof assets relating to goodwill allocation

2. 3.

79.0

(204.8)

Income taxexpense Non-recurring items

16.9

(162.7) 208.7 272.8 (64.0)

Consolidatednetincome

ATTRIBUTABLETOOWNERSOFTHECOMPANY

Non-controlling interests

9.9

2018figuresat constantEurazeo scope: * - 2018scopeentries:consolidatedfor a 12-monthperiodin theproformacomparativeincomestatement; - 2018scopeexits:excludedfromtheproformacomparativeincomestatement; - 2019scopeentries/exits:consolidatedfor an equivalentperiodin theproformacomparativeincomestatement.

EURAZEO / 2019 UNIVERSAL REGISTRATION DOCUMENT

30