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LAZARD LAZARD LTD REPORTS THIRD - QUARTER AND NINE - MONTH 2021 RESULTS Record operating revenue for the third quarter and first nine months of 2021 NEW YORK , October 29 , 2021 – Lazard Ltd ( NYSE : LAZ ) today reported operating revenue¹ of $ 702 million for the quarter ended September 30 , 2021. Net income , as adjusted² , was $ 111 million , or $ 0.98 per share ( diluted ) for the quarter . On a U.S. GAAP basis , third - quarter 2021 net income was $ 107 million , or $ 0.94 per share ( diluted ) . For the first nine months of 2021 , net income , as adjusted , was $ 358 million , or $ 3.13 per share ( diluted ) . On a U.S. GAAP basis , net income for the first nine months was $ 318 million , or $ 2.78 per share ( diluted ) . ( $ in millions , except per share data and AUM ) Net Income US GAAP " Record third - quarter and year - to - date operating revenue reflect continued strong performance across the firm globally , " said Kenneth M. Jacobs , Chairman and Chief Executive Officer of Lazard . " We are well positioned with unprecedented advisory activity and a record level of average assets under management , and we continue to invest for growth across our businesses . " Per share , diluted Adjusted² Per share , diluted Operating Revenue¹ Total operating revenue Financial Advisory Asset Management AUM ( $ in billions ) Period End Average Record Financial Advisory third - quarter revenue ; high levels of activity globally 2021 $ 107 $ 0.94 $ 111 $ 0.98 $ 702 $ 381 $ 311 $ 273 $ 278 Quarter Ended Sept. 30 , 2020 $ 75 $ 0.66 $ 76 $ 0.67 $ 569 $ 307 $ 261 $ 228 $ 226 % '21 -'20 Record average assets under management of $ 278 billion in third quarter 43 % 42 % 46 % 46 % 1 23 % 24 % 19 % 20 % 23 % 2021 $ 318 $ 2.78 $ 358 $ 3.13 $ 2,171 $ 1,170 $ 982 $ 272 Nine Months Ended Sept. 30 , 2020 % '21 -'20 $ 213 $ 1.88 $ 218 $ 1.92 $ 1,675 $ 895 $ 775 $ 219 Media Contact : Judi Frost Mackey +1 212 632 1428 Investor Contact : Alexandra Deignan +1 212 632 6886 Note : Endnotes are on page 6 of this release . A reconciliation of U.S. GAAP to adjusted GAAP is on pages 13-14 . 49 % 48 % 65 % 63 % 30 % 31 % 27 % 24 % judi.mackey@lazard.com alexandra.deignan@lazard.com