FFP_REGISTRATION_DOCUMENT_2017

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GROUP PRESENTATION Portfolio presentation

www.tikehaucapital.com

BUSINESS

OWNERSHIP STRUCTURE (31/12/2017)

Tikehau Capital was founded in 2004 by Antoine Flamarion and Matthieu Chabran, and is an asset management and investment group focusing on four asset classes: private debt, real estate, equity and liquid strategies. The group employs almost 200 people across eight offices (Paris, London, Brussels, Madrid, Milan, New York, Seoul and Singapore). The group reorganised its business in 2017 in order to simplify its ownership structure and bring all its activities under the Tikehau Capital banner. That reorganisation led to the group’s IPO in early 2017. Tikehau Capital has seen rapid growth and had €13.8 billion of assets under management at 31 December 2017, up 38.2% compared with 31 December 2016, and attracted net new money of €3.9 billion in 2017. Net profit, group share, amounted to €314.4 million in 2017, driven by asset management (operating income of €16.0 million) and investing activities (operating income of €347.3 million). Tikehau Capital’s equity amounted to €2.5 billion at the end of 2017, having been strengthened by the €702 million capital increase in July 2017. At end-2017, the group had €975 million of cash and €900 million of undrawn credit facilities, along with €548 million of debt. Tikehau Capital Advisors (TCA) is the Tikehau group’s parent company and owns 100% of the managing company of Tikehau Capital SCA, the group’s listed investment vehicle. FFP INVEST invested €73 million in the Tikehau Capital group in 2016, and then a further €26 million in 2017, mainly through capital increases. Those investments were made in both Tikehau Capital Advisors and Tikehau Capital. The FFP group (via wholly owned subsidiary FFP INVEST ) is party to a Tikehau Capital Advisors shareholder agreement (1) . At 31 December 2017, the FFP group (via its wholly owned subsidiary FFP INVEST ) owned 6.0% of Tikehau Capital Advisors’ equity and 3.0% of Tikehau Capital’s equity. The value of the Tikehau Capital Advisors stake for the purposes of Net Asset Value and the consolidated financial statements is estimated using FFP’s policies for valuing unlisted assets. The value of the Tikehau Capital shareholding, for the purposes of Net Asset Value and the consolidated financial statements, is based on the share price at 31 December 2017. Robert Peugeot is a member of Tikehau Capital Advisors’ Board of Directors. FFP’S INVESTMENT

Founders and management

FFP I NVEST

Others

24.1%

6.0%

69.9%

Tikehau Capital Advisors

37.1% with Fakarava (management)

3.0%

Tikehau Capital

MAIN FIGURES (in millions euros)

2016*

2017

Assets under management (€ bn)

10.0

13.8

Revenue

130.0

445.0

Operating income from asset management activities Operating income from investing activities Net profit attributable to equity holders of the parent

3.5

16.0

119.2

347.3

124.6

314.4

0.00 1.00**

Dividend per share (€)

* 2016 figures are pro forma data taking into account the reorganisation of the Tikehau Capital group, which was completed in 2017. ** Proposed to the AGM, including a special dividend of €0.50 per share.

BREAKDOWN OF TIKEHAU CAPITAL’S ASSETS UNDER MANAGEMENT (31/12/2017)

18% Private equity

16% Real estate

44% Private debt

22% Liquid strategies

(1) The main features of shareholder agreements formed by FFP and/or FFP INVEST are set out in section 3.1.

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FFP

2017 REGISTRATION DOCUMENT