Eurazeo / 2019 Universal Registration Document

Activity during the year and outlook

2.1.5 Shareholder returnand dividends 2.1.5.1 Improveddividends

SHAREHOLDERS: LOYALTY AND STABILITYAT THE CORE OFOUR MODEL

Eurazeo’s shareholder distribution policy is founded in the long term. Over the period 2003 to 2018, the dividend per share reported sustained average annual growth of 6.7%. Circumstances permitting, exceptional dividends are paid out in addition to ordinary dividends. A dividend of €1.50 per share will be proposed to the next Shareholders’Meeting in respect of 2019, an increase of +20% per share and nearly 24% for the total distribution, taking into account the one for twenty bonus share grant to all shareholders in 2019. Eurazeo has decided to end this bonus share grant from 2020, to improve the clarity of per share trends in its aggregates. In return, Eurazeo will introduce an increased dividend for its loyal shareholders: shareholderswho have held their sharesin registeredform formore than twoyears will receivea 10% dividend supplement. To reward the loyalty of its long-term investors, the Executive Board will ask the Shareholders’ Meeting to introduce a 10% loyalty dividend rewarding shareholderswho have held their shares in registered form continuously for two years, up to the legal maximumof 0.5% of the share capital. This bonus would apply for the first time on payment of the dividend for the fiscal year ending December 31, 2022 on shares deposited in registeredaccounts since at least December31, 2020. Combinedwith the significant increase in the dividend, this systemwill replace favorably the distribution of bonusshares, which will thereforebe discontinuedfrom this year.

DIVIDEND (EXERCISE DATE)

02

+24%

80

293

64

114

79 90 92

57 63 63 64 67 74 76 75 79 80

45 38

45

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019*

Ordinary dividend

Exceptional dividend

Exercise date

* Subjectto the approvalof the 2020 Shareholders’Meeting. Estimatedamountbased on the numberof outstandingshares as of 02/21/2020.

Share buybacks andcancellations Eurazeo also implementsan active share buyback policy, if justified by majority of the shares purchased are canceled during the year. the discount, i.e. the difference between the NAV per share and the This practice increases the NAV per share and automatically creates stock market price, and within the limit of its authorizations. The vast value for the shareholders.

/ EURAZEO

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2019 UNIVERSAL REGISTRATION DOCUMENT