Eurazeo (RF) investor relations material

Opening remarks and agenda

• The meeting welcomed shareholders, supervisory board, and management, outlining the agenda and confirming regulatory compliance for convening and documentation.

• Attendance and quorum were confirmed, with digital access to documents provided in line with CSR policy.

Financial performance review

• Asset management saw double-digit growth, with assets under management reaching EUR 39 billion, up 8% year-on-year.

• Third-party assets rose 15% to EUR 30 billion, and recurring fee-related earnings margin reached 36%.

• EBITDA for asset management increased 12% to EUR 206 million, with a margin of 44%.

• Net portfolio value at year-end was EUR 6.8 billion, with organic value creation slightly down at -1.6%.

• Disposals and asset rotation remained strong, with a gross multiple of 2.1x since 2012.

Board and executive committee updates

• The supervisory board comprised 11 members, with 44.4% women and 55.5% independent members.

• Board activities included 29 meetings, high attendance, and focus on fund performance, governance, and succession planning.

• Remuneration policy adjustments aligned incentives with strategic priorities; 2025 variable remuneration reached 90.7% of target.

• No shares vested under the 2023-26 long-term plan due to unmet performance conditions.