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Paris, November 5th, 2026 9M 2026 Trading update
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2 - 9M 2026 TRADING UPDATE - 05.11.2026 KEY HIGHLIGHTS STRONG GROWTH IN ASSET MANAGEMENT ROBUST PERFORMANCE OF THE BALANCE SHEET Fundraising €2.8Bn Private Markets Management Fees1 +18% AUM +12%1 (€40Bn) PRE (3rd party) +24% (10 M€) portfolio realizations2 13% of N-1 NAV Solid performance of portfolio companies 1 Scale our Asset Manager 2 Complete the shift towards an asset-light model 3 Return capital to shareholders Strategic ambitions 9M 2026 trading update €0.9Bn or
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3 - 9M 2026 TRADING UPDATE - 05.11.2026 FUNDRAISING STRONG FUNDRAISING MOMENTUM IN 2026 1,4 0,9 1,7 1,6 0,2 9M 2025 9M 2026 Third party fundraising PRIVATE EQUITY PRIVATE DEBT REAL ASSETS 9M 2026 facts Final close of ESF V (Secondaries) Continued growth of evergreen EPVE 3 vehicle with positive net inflows Final close of EPD VII (Direct Lending) First close of PME V (Buyout) €3.2BN €2.8BN FUNDRAISING EXPECTED ABOVE €4.5BN FY 2026 Good start for Future Industries III
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4 - 9M 2026 TRADING UPDATE - 05.11.2026 ASSETS UNDER MANAGEMENT STEADY GROWTH OF THIRD-PARTY FPAUM UP +13% LTM 28,0 31,5 9,4 8,9 37,4 40,4 9M 2025 9M 2026 ASSETS UNDER MANAGEMENT THIRD PARTYBALANCE SHEET FEE-PAYING ASSETS UNDER MANAGEMENT THIRD PARTYBALANCE SHEET 20,5 23,1 7,4 6,3 27,9 29,5 9M 2025 9M 2026 +8% +12% +6% +13% -5% -14%
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5 - 9M 2026 TRADING UPDATE - 05.11.2026 86 75 166 195 51 52 9M 2025 PF 9M 2026 MANAGEMENT FEES THIRD-PARTY MANAGEMENT FEES UP +14%1 1. Proforma of RBA and the Wealth Management division of IMGP, which have been sold MANAGEMENT FEES1 €302m €322m BALANCE SHEET THIRD-PARTY PRIVATE MARKETS THIRD-PARTY IMGP +6% +18% -13% Third-party private markets +3% Third-party IMGP Balance sheet Third Parties : • Private Markets : Strong inflows over the last 12 months, stable fee rate • IMGP : Record fundraising on own funds , mixed performance of partners Balance Sheet : • Management fees down as expected thanks to exits and reduced commitments
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6 - 9M 2026 TRADING UPDATE - 05.11.2026 ASSET ROTATION INCREASED LEVELS OF REALIZATIONS 1. €8 bn to be deployed in total, including €1.8bn of commitments from Eurazeo’s balance sheet Amounts deployed Realizations Private Equity Private Debt Real assets 1,7 1,8 2,0 1,6 €3,9BN €3,5BN 9M 2025 9M 2026¹ 1,1 1,8 0,6 0,4€1,7BN €2,3BN 9M 2025 9M 2026¹ ~€6.3BN1 DRYPOWDER FROM 3rd PARTY (+19%)
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7 - 9M 2026 TRADING UPDATE - 05.11.2026 790 ASSET ROTATION REALIZATIONS ON GOOD FINANCIAL TERMS ~2.0x Gross MOIC realized since 2012 x2.7 x3.2 x3.3 x2.7 x3.0 x2.6 x1.3 x1.6 x3.0 x2.2 x1.5 x2.1 x2.1 >3x 2,6x 2,7x 1,4x 3x Gross CoC multiple Uplift at exit 1 2023 2024 2025 2 9M 2026 +22% +60% +10% +54% +17% +17% -18% +15% +42% +2% +1% >+100% +2% >+100% +150% +150% ~0% >150% ~0% up to 5x
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8 - 9M 2026 TRADING UPDATE - 05.11.2026 790 FINANCIAL RESULTS ROBUST PIPELINE OF BALANCE SHEET REALIZATIONS FOR 2026 % OF (N-1) PORTFOLIO VALUE REALIZED IN YEAR N REALIZATIONS N/ PORTFOLIO VALUE (N-1)REALIZATIONS EXITS IN M€ 28% 27% 23% 27% 28% 11% 52% 18% 6% 13% 20% 13%1 0 500 1 000 1 500 2 000 2 500 3 000 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 YTD 2026 EXPECTED BALANCE SHEET REALIZATIONS ~15% OF N-1 NAV FY 2026 1. Proforma of announced exits
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9 - 9M 2026 TRADING UPDATE - 05.11.2026 FINANCIAL RESULTS SOLID PERFORMANCE OF PORTFOLIO COMPANIES 56% 21% 13% 9% Net Portfolio Value €7.1BN2 1. 2. 3. 4. 5. GROWTH +18% REAL ASSETS Stable Hospitality5 Good momentum in Infrastructure BUYOUT4 +6 % +43% EGF IV RevenuesRevenues
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10 - 9M 2026 TRADING UPDATE - 05.11.2026 CONCLUSION CONCLUSION 01 WE ARE SCALING A LEADING EUROPEAN ASSET MANAGER 03 02 WE DELIVER STEADY EARNINGS GROWTH THANKS TO REVENUE UPLIFT AND DISCIPLINED COST MANAGEMENT WE ARE COMPLETING THE SHIFT TOWARDS AN ASSET LIGHT BUSINESS MODEL , RETURNING SIGNIFICANT CAPITAL TO SHAREHOLDERS
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11 - 9M 2026 TRADING UPDATE - 05.11.2026 Questions & Answers
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12 - 9M 2026 TRADING UPDATE - 05.11.2026 APPENDICES
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13 - 9M 2026 TRADING UPDATE - 05.11.2026 New “Prime” line FUNDRAISING SOLID AND DIVERSIFIED FUNDRAISING PIPELINE IN 2026 PRIVATE EQUITY PRIVATE DEBT REAL ASSETS Flagship Funds INSTITUTIONALWEALTH SOLUTIONS Thematic Funds ESF V Secondaries EGF IV Growth PME V Buyout EPBF Impact buyout ESMI II Asset-based EZORE Real Estate ETIF II Sust. infra. Eurazeo Private Value 3 E.P.I.C. Private Credit E.P.S.O. Secondaries EEC III Growth Evergreen fund Evergreen fundEvergreen fund Art. 9 Art. 9 Art. 9 (Closed) (1st Close) (1st Close) (1st Close) (1st Close) EPD VII Direct Lending (Closed) Future Industries Venture Biofund IV Kurma / Venture (Closed) “FCPI” Venture/Growth
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14 - 9M 2026 TRADING UPDATE - 05.11.2026 790 2022 2023 2024 2025 9M 2026 FUNDRAISING EXPANDING OUR INSTITUTIONAL CLIENT FRANCHISE INCREASING SHARE OF INTERNATIONAL IN INSTITUTIONAL LPS INFLOWS NUMBER OF INSTITUTIONAL CLIENTS # 10% 16% 20% 27% 31% 27% 39% 43% 44% 45% 63% 45% 37% 29% 24% 2018-2020 2021-2022 2023-2024 2025 9M 2026 37% International 55% International 63% International FRANCE OTHER EUROPE REST OF THE WORLD 396 531 427 456 71% International 50076% International
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15 - 9M 2026 TRADING UPDATE - 05.11.2026 790 FUNDRAISING GROWING AUM IN WEALTH SOLUTION WEALTH SOLUTION AUM 3,5 4,3 5,0 5,8 6,1 2022 2023 2024 2025 9M 2026 16% CAGR Continued momentum for blockbuster evergreen EPVE 3, surpassing €3.8bn in AUM Limited redemptions, in line with historical average Roll-out of new evergreen line Eurazeo Prime for International markets: • EPIC : Private Credit • EPSO : Secondaries
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16 - 9M 2026 TRADING UPDATE - 05.11.2026 APPENDIX STRONG FINANCIAL PROFILE NET 21% Gearing1 Solid financial profile €500M bond 5Y 4.625% 4x over-subscribed Diversified source of financing Strong Credit Rating Liquidity €0.7bn available RCF + bilateral lines €1.8bn capacity BBB rating
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17 - 9M 2026 TRADING UPDATE - 05.11.2026 APPENDIX ASSETS UNDER MANAGEMENT In €M 30/09/2025 30/09/2026 Change (%) Private Equity 17,149 7,760 24,909 18,663 7,407 26,070 5% Capital (ex MLBO) 3,575 3,691 7,266 3,760 3,497 7,257 0% Elevate (ex SMBO) 1,764 957 2,721 2,718 808 3,526 30% Brands 4 656 660 0 516 516 -22% Healthcare (Nov Santé) 396 1 397 365 1 366 -8% Growth 2,178 1,735 3,913 2,113 1,622 3,735 -5% Venture 2,724 154 2,878 2,522 216 2,738 -5% Kurma 478 98 576 535 99 634 10% Secondaries & Mandates 5,827 304 6,131 6,339 306 6,645 8% Planet Boundaries 203 98 301 311 96 407 35% Other investments as LP - 66 66 0 246 246 273% Private Debt 9,913 482 10,395 11,848 420 12,268 18% Real Assets 984 1,112 2,096 954 1,104 2,058 -2% Total 28,046 9,354 37,400 31,465 8,931 40,396 8%
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18 - 9M 2026 TRADING UPDATE - 05.11.2026 APPENDIX SELECTED FUNDS PERFORMANCE1 Strategy Fund name Vintage Year Fund size (€m) o/w BS (€m) % invested Gross MOIC Gross IRR Gross DPI Private Equity CAPITAL EC V 2022 2 992 1 737 58% 1.0x 2% 0.0x Pluto (Planet) 2021 985 465 87% 1.5x 9% 0.0x ECAF B 2020 666 224 65% 1.3x 14% 0.5x EC IV 2017 2 500 1 712 86% 2.0x 15% 1.1x ELEVATE PME IV 2021 1 049 200 79% 2.0x 29% 0.5x ECAF A 2021 222 75 75% 1.2x 7% 0.0x PME III 2017 607 203 92% 1.8x 15% 1.0x GROWTH EGF IV 2025 663 250 45% 1.4x 90% 0.3x EGF III 2019 1 084 250 90% 1.0x -1% 0.1x VENTURE DIGITAL IV 2021 289 75 60% 1.1x 6% 0.1x DIGITAL III 2018 350 21 78% 1.2x 4% 0.1x SECONDARIES ESF V 2025 1 250 200 44% 1.2x 12% 0.1x ESF IV 2021 695 60 115% 1.5x 13% 0.5x KURMA Kurma Biofund III 2018 128 6 73% 1.7x 22% 0.9x Kurma Growth Opportunities Fund 2022 167 41 52% 1.4x 21% 0.5x PRIVATE DEBT DIRECT LENDING EURAZEO PRIVATE DEBT VII 2024 4 050 100 68% 1.1x 13% 0.1x EURAZEO PRIVATE DEBT VI 2021 2 328 120 122% 1.2x 8% 0.5x REAL ASSETS REAL ESTATE Patrimoine 3 2020 504 500 79% 1.0x 0% 0.1x Patrimoine 2 2015 522 500 89% 1.8x 23% 1.5x INFRASTRUCTURE ETIF 2022 663 100 84% 1.3x 11% 0.0x
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19 - 9M 2026 TRADING UPDATE - 05.11.2026 790 APPENDIX SHAREHOLDER BASE & GOVERNANCE CORPORATE GOVERNANCE Separation of the roles of Chairman and CEO Independence of the Supervisory Board: 6 independent members out of 12 Four committees : • Audit Committee • Finance Committee • Compensation and Appointments Committee • CSR Committee Existence of shareholder agreements between main shareholders and Eurazeo Free float 47,8% JCDecaux Holding SAS 21,6% Famille Michel David-Weill 10,6% Famille Solages 5,1% Famille Richardson 4,3% Famille Guyot 0,4% Treasury shares 8,6% Management & employés 1,5% Shareholding structure 30/09/2026
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20 - 9M 2026 TRADING UPDATE - 05.11.2026 APPENDIX FINANCIAL AGENDA 1ST QUARTER 2027 Revenues May 13, 2027 FULL YEAR 2026 Results March 10, 2027
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21 - 9M 2026 TRADING UPDATE - 05.11.2026 APPENDIX EURAZEO CONTACTS Pierre BERNARDIN INVESTOR RELATIONS pbernardin@eurazeo.com +33 (0)1 44 15 16 76 EURAZEO SHARES Share capital as of 31/12/2025 69,165,760 Statutory threshold declarations 1% Bloomberg/Reuters RF FP, Eura.pa ISIN code FR0000121121 Indices DJ STOXX EUROPE 600 DJ EURO STOXX MSCI NEXT 150 CAC MID&SMALL CAC FINANCIALS SBF120 www.eurazeo.com ANALYST COVERAGE Alexandre DesprezAlpha Value in transitionAutonomous Bernstein Christoph GreulichBerenberg Arnaud Palliez & Alexandre GérardCM-CIC Nicolas VaysselierExane BNP Paribas Oliver CarruthersGoldman Sachs Matthew HoseJefferies Christopher BrownJP Morgan Cazenove David CerdanKepler Cheuvreux Julian DobrovolschiODDO BHF
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22 - 9M 2026 TRADING UPDATE - 05.11.2026 APPENDIX DISCLAIMER CONFIDENTIALITY This presentation (the “Presentation”) has been prepared by Eurazeo. This presentation may not be distributed, published or reproduced, in full or in part, and the information contained herein must not be released by its recipients to third parties. The recipients of this Presentation undertake not to use the information received hereby for purposes other than those for which the information was communicated to them. REGULATION Eurazeo SE is a company listed on Euronext Paris. The recipients of information acknowledge having read and understood the provisions of applicable securities laws and market regulations relating to the use of inside information, and in particular of EU Market Abuse Regulation (Regulation (EU) 596/2014 of the European Parliament and of the Council dated 16 April 2014) as well as article L.465-1 of the French Monetary and Financial Code. The recipients of information acknowledge moreover that some of the confidential information contained in the Presentation may be regarded as inside information within the meaning of such securities laws and market regulations relating to the use of inside information. The recipients undertake, in their name and on behalf of the companies of their group, to comply with applicable securities laws and market regulations. DISCLAIMER The information contained in this Presentation is provided for information purposes only. Some of the information contained in this Presentation has been obtained from published sources prepared by other parties and it has not been independently verified. Neither Eurazeo nor the group to which it belongs nor any other person assumes any responsibility for the accuracy or completeness of the information contained in this Presentation and no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of this information or opinions contained herein. The information set out herein is provided as of the date of the Presentation and Eurazeo is under no obligation to update, complete, revise, verify or amend the information contained in this Presentation and/or to provide to you any previous, current or future other materials in relation to Eurazeo or its products or services. Certain statements contained in this document may be statements of future expectations and other forward-looking statements that are based on certain assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materiallyfrom those expressed or implied in such statements. No information provided in the Presentation constitutes or should be used or considered as an offer to sell or a solicitationof any offer to buy the securities or services of Eurazeo or any other issuer in any jurisdiction whatsoever. None of Eurazeo or any of its affiliates, advisors or representatives shall have any liability whatsoever for any loss howsoever arising from any use of this document or its content or otherwise arising in connection with this document. UNITED STATES OF AMERICA None of the interests of funds managed by Eurazeo or any entity of its group has been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any U.S. state or other relevant jurisdiction. No such registration is contemplated. Neither the U.S. Securities and Exchange Commission nor any U.S. state or other authority or securities commission has reviewed or passed upon the accuracy or adequacy of this Presentation. Any representation to the contrary is a criminal offense. In addition, none of the funds managed by Eurazeo will be registered as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”), in reliance on one or more exclusions or exemptions therefrom. Investors in any such funds will be required to make certain representations regarding their qualifications, including that each is an “accredited investor” and a “qualified purchaser” as those terms are defined in the Securities Act and Investment Company Act, respectively. There is no public market for the interests in the funds managed by Eurazeo and no such market is expected to develop in the future. Accordingly, investors should be aware that they will be required to bear the financial risks of an investment for an indefinite period of time, including the risk of loss of their entire investment. Past performance is not necessarily indicative of future results and no guarantee can be given that the investment objectives of Eurazeo will be achieved or that investors will receive a return of capital or return on any of their capital. No representations or warranties of any kind are intended or should be inferred with respect to the economic returns or the tax consequences of an investment any fund managed by Eurazeo. This Presentation relates to investments managed by Eurazeo, which is not registered as an investment adviser pursuant to theInvestment Advisers Act of 1940, as amended. As a result, the protections of such registration shall not be afforded to any investor in any fund managed by Eurazeo.
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23 - 9M 2026 TRADING UPDATE - 05.11.2026 www.eurazeo.com