Résultats 1er semestre 2013

1st HALF 2013 RESULTS
1
August 28, 2013
Good results,
as Eurazeo’s efforts bear fruit

Contents
1st HALF 2013 RESULTS2
03 H1 2013 highlights
Good results, as Eurazeo’s efforts bear fruit
08
15
21
29
Value creation
H1 2013 Results
Very good results
Accelerating transformation
Appendices

H1 2013 HIGHLIGHTS
Good results, as Eurazeo’s efforts bear fruit
3 1st HALF 2013 RESULTS

Consolidated net
income group share
Strong disposals driving performance
Net proceeds
from disposals
€853m*
(*) Of which €413m for Rexel (€225m in February, €85m in June and €103m in August 2013)
(**) Between June 30, 2012 and June 30, 2013 proforma from the acquisition of Péters Surgical by Eurazeo PME and the sales of the Flexitallic Group and Rexel
(***) Between Dec. 31, 2012 and August 20, 2013
Net cash
€794m€329m
Average multiple
on disposals
2.1x
NAV/share
€59.0
+9%***
Decrease in conso-
lidated net debt**
~-2.1bn

Accelerating our asset rotation
6.0%
4.0%
2.0%
13.0%
23.0%
2008 2009 2010 2011 2012 YTD
DISPOSALS
in % of NAV as of Jan. 1
2012 YTD 2013
+€853m
23% of NAV
+€436m
13% of NAV
(*) Rexel = 3 disposals (February, June & August 2013)
*
8 DISPOSALS IN 2012 & 2013
In €m
▲ 23% of the NAV sold since January 2013

12
14
16
18
20
22
24
26
30/12/11 29/2/12 30/4/12 30/6/12 31/8/12 31/10/12 31/12/12 28/2/13 30/4/13 30/6/13
Accurate market timing
February 14, 2013
Second partial sale
June 4, 2013
Third partial sale
Aug 7, 2013
Fourth partial sale
March 5, 2013
Sale of the entire stake
Share price in €
March 01, 2012
First partial sale
12/30/11 02/29/12 04/30/12 06/30/12 08/31/12 10/31/12 12/31/12 02/28/13 04/30/13 06/30/13

Strengthening of the financial structure both
at Eurazeo level and within portfolio companies
Net cash
x3 since December 31, 2012
Consolidated net debt 2.1bn* decrease
 €3,197m
Successful refinancing of Elis  Debt maturities
extended to 2017-18
No debt
at company level
Debt
(*) Between June 30, 2012 and June 30, 2013 excluding Europcar fleet debt. Proforma of the sale of Flexitallic Group
and the block of Rexel shares sold in August 2013 and the acquisition of Péters Surgical by Eurazeo PME

VALUE CREATION

A 3-step strategy towards value creation
Value creation
Detect quality
companies and identify
strategic sectors
Realize capital gains
when transformation
objective achieved
Activate all
transformation levers
Eurazeo: well structured and positioned
to create value from growth megatrends
MONETIZATIONDETECTION ACCELERATION

Example: The Flexitallic Group
DETECTION MONETIZATIONACCELERATION
7 years holding
Revenue €18m
11% international
EBITDA €6m
EV €37m
Headcount 46
Revenue €210m
90% international
EBITDA €49m
EV €450m
Headcount 1,250
Limited auction Sale to Bridgepoint
2006 2013
Radical transformation of
a French distributor into a global
manufacturing leader through:
• Strong corporate governance
• 5 international acquisitions
• Penetration of new markets
• Heavy investment in innovation
and manufacturing
2.9x cash multiple*
performance:
€145m net proceeds28% IRR*
(*) 2.4x cash multiple and 70% IRR at Eurazeo level, based on the acquisition of OFIPEC in April 2011

Value creation: solid NAV growth
▲ June 30, 2013 NAV/share: +7% versus Dec. 31, 2012
▲ Non-listed companies valuation: +9% versus Dec. 31, 2012
NAV
In € per share
49.2
54.1*
58.0*
59.0*
June 30, 2012 Dec. 31, 2012 June 30, 2013 August 20, 2013
(*) NAV with ANF Immobilier at its NAV: €54.8 as of December 31, 2012, €58.8 as of June 30, 2013, €59.8 as of August 20, 2013
(**) Restated for bonus share allocation
+20%
**

NAV change by division
3,751
3,972
+6
+284 -594
+21
+33 -3 +20 -9 +1 -10
+472
NAV
12/31/12
NAV
06/30/13
Investments Change in
fair value
Disposals
Cash
& other
Rexel, E
denred
Idéal
Résidences
BFR
Groupe
IES and
add-on
In €m

Conservative valuation of non-listed assets
121
15
115
184
22
145
▲ Net proceeds of disposals exceeded the latest valuation in our NAV
B&B Hotels
Sept 10
Mors Smitt
June 2012
The Flexitallic Group
July 2013
NAV
in €m
Last NAV Net proceeds from disposals
+52%
+47%
+26%

A strong track record over the long-term:
weighted average cash on cash multiple of 2.1x
0.0x
0.5x
1.0x
1.5x
2.0x
2.5x
3.0x
3.5x
4.0x
Fraikin
Eutelsat
Terreal
Station
Casinos
Sirti
B&B
Rexel
Rexel
(February) Edenred
2005 2007 2010 2012 H1 2013
Mors Smitt*
0.0
3.5
3.4
0.2
Y E A R O F D I S P O S A L
Weighted average
multiple of 2.1x
2.1
2.4
3.5
ANF
Immobilier 2.9
2.1
2.3
Aug 2013
Multiple
<€50m
€50–100m
€100–150m
>€150m
Investment size:
x
Rexel
(June)
Flexitallic
Group*
Rexel
(Aug)
(*) At Eurazeo PME level
2.0
2.4
2.02.0

H1 2013 RESULTS
Very good results

Increase in revenue in Q2
2,093 2,083
1,286 1,285
H1 2012(1) H1 2013
-0.1%
-0.5%
Equity accounted
companies
Fully consolidated
companies
3,379 3,368
-0.3%
ECONOMIC REVENUE
In €m
(1) Restated
▲ Improvement in Q2
Q1: -0.9%
Q2: +1.2% excl. impact
of Danone dividends

Profit & loss details
(in €m) H1 2012 H1 2012 PF(2) H1 2013
Contribution of companies’ net of finance cost 40.8 4.6 4.0
Fair value gains (losses) on investment properties (3.6) (4.8) 3.4
Capital gains 9.6 9.6 580.5
Taxes and other(1) (50.2) (49.4) (60.1)
Non-recurring items (144.2) (138.0) (165)
Net consolidated income (147.4) (177.9) 362.3
Net consolidated income group share (126.6) (146.7) 328.8
(1) Net finance costs of the holding company business
(2) Proforma: impact of disposals of a part of ANF Immobilier, Mors Smitt, Edenred, Rexel and deconsolidation of Fraikin

Stable contribution of portfolio companies
H1 2012 H1 2012 PF(1)
H1 2013 Change
Adjusted EBIT of Group
consolidated companies
239.1 214.8 215.5 +0.3%
Net finance costs of Group
consolidated companies
(240.9) (238.7) (228.0) (4.5%)
Share of net income of associates
after net finance costs
42.6 28.6 16.5 -42%
Contribution of companies
net of finance costs
40.8 4.6 4.0
CONTRIBUTION OF COMPANIES NET OF FINANCE COSTS (at 100%)
(1) Proforma: impact of disposals of a part of ANF Immobilier, Mors Smitt, Edenred, Rexel and deconsolidation of Fraikin
+ 8% excl. Elis
laundry impact
▲ Heavy seasonality of large Eurazeo companies (Moncler, Europcar)
In €m

Capital gains and non-recurring items
4.0
329
0.9
112 -23
381 -19
-53
-74
Contribution
of companies’
net of finance costs*
Capital
gains
Danone EB
early
redemption
Deconso. and
impairment
of Fraikin
H1 2013
net income*
Other
recurring
items
Impairments
(APCOA
+Colyzeo
+Banca
Leonardo)
Other non-
recurring
items
Recurring income €475m(*) Group share
MAIN ITEMS OF H1 2013 NET INCOME GROUP SHARE
In €m
Impact of
group share on
contribution net
cost of debt

A solid financial structure
CONSOLIDATED NET DEBT
In €m
NET CASH AND CASH EQUIVALENTS
In €m
5,277
3,197
1,508
1,446
H1 2012 PF H1 2013
Consolidated net debt
(excl. Europcar fleet debt)
Europcar fleet
debt(w/o leasing)
(*) Proforma of the acquisition of Péters Surgical by Eurazeo PME
and the sale of the Flexitallic Group and Rexel
*
▲ A fully available revolving credit line of €1bn
▲ No debt at company level
-39%
138
292
794
Dec. 31,
2011
Dec. 31,
2012
Aug. 20,
2013

ACCELERATING TRANSFORMATION

Transformations under way & next ambitions (1/2)
To date: • Efficient roll-out of Fast Lane transformational Program driving profitability
Next ambitions: • New mobility services, further internal efficiency projects
To date:
• Management team reinforcement
• Kick-off commercial strategy on core business
• New strategy for brokerage business
• Focus on strategic areas
• Relaunch of M&A strategy
Next ambitions:
• Harmonize performance across the network
• Accelerate organic growth in core business
• Drive sector innovation
• Increase accretive acquisitions in strategic areas
To date: • Active portfolio management
• Enhanced group structure and operating model concepts
Next ambitions:
• Roll out optimal operational model and local successful products
• Enhanced new business
• Refinancing
To date:
• Disposal of non core assets and focus on hospitality
• Asset light strategy
• Investment in distribution and digitalization
• Organization by brand in Europe and appointment of the new Head of Property
Department
Next ambitions:
• Distribution and digitalization
• Opportunistic M&A

Transformations under way & next ambitions (2/2)
To date:
• Globalization, development of the distribution network and expansion
of the product range
Next ambitions:
• Further geographical rebalancing (North America, etc.)
• Further diversification towards accessories
To date:
• 50MW photovoltaic plants operational in France
• First plant in India (22MW)
• 200MW license obtained in Porto Rico
• Development of biogas projects and license obtained in geothermia
Next ambitions:
• 200MW under development in Porto Rico
• Opening of new countries in photovoltaic
• First biogas facilities
To date: • Strong increase in rents and profitability
Next ambitions: • Increase new investmentsto rebalancethe portfolio
To date:
• Launch of new pest control activity
• Successful refinancing
• Proven M&A and integration know-how
• Continuous performance improvements
Next ambitions:
• Finalize New ERP roll-out
• Accelerate international expansion
• Accelerate products and services innovation
• Increase penetration in strategic segments

Acquisitions in our strategic sectors
Identifying
and selecting
key sectors
2
Strategic
monitoring
of social trends
1
Targeting and pro-actively
approaching investment
opportunities (proprietary deals)
3
 Increasing purchasing
power in the emerging
markets
 Evolution of purchasing
patterns
 Longevity
 Health awareness
 Environmental concern,
natural resources
scarcity, etc.
 Luxury & global brands
 Technology & digital
 Financial services
 Healthcare:
 Environment & energy-
driven businesses:
• IES: pioneer in electric vehicle chargers
• Idéal Résidences: group of medical, social
and health care facilities
• Péters Surgical: the world's 4th-largest surgical
suture specialist
• Groupe Cap Vert Finance: European
leader in electronics recycling
4 acquisitions in H1 2013,
amounting to ~€100m

CONCLUSION

Conclusion
▲ Accelerating new investments
▲ Pursuing value creation within portfolio companies
▲ Aiming at a lower discount rate

Active share buyback
865,700 shares
bought in 2013
902,747 shares
cancelled at July 19, 2013
A C T I V E S H A R E B U Y B A C K P R O G R A M
€36m | €41/share i.e. 1.3% of total shares

As of August 20, 2013
In €m
High discount on non-listed assets
56 56
882 882
992 992
2,017
1,370
NAV Market Cap.
4,036
3,299
▲ 19% discount on our NAV as of August 20, 2013
implies a 35% discount on non-listed assets
Implicit value of
non-listed assets
Other
Non listed assets
Listed assets
Cash & treasury shares
35%
discount on
non-listed
assets

APPENDICES
Including Group company detailed information

Contents
31 Financial appendices
36 Group company detailed information
75 Other

43%
21%
4%
7%
7%
17%
NAV
in €m
Breakdown of NAV as of June 30, 2013
EURAZEO CAPITAL (LISTED)
CASH & OTHER
EURAZEO PATRIMOINE
EURAZEO PME
EURAZEO CROISSANCE
EURAZEO CAPITAL
CAPITAL (NON LISTED)

Net Asset Value as of June 30, 2013
(1) Net of allocated debt
(2) Accor shares held indirectly through Colyzeo funds are included on the line for these funds
Interest Nb shares Price NAV as of June. 30, 2013 with ANF at its NAV
€ €M ANF @ €30.7
Eurazeo Capital Listed 824,6
Rexel 11.08% 31,368,739 17.32 543,2
Accor 8.83% 20,101,821 26.60 534,8
Accor net debt -250,2
Accor net (1) (2) 20,101,821 281,3
Eurazeo Capital Non Listed 1,725,0
Eurazeo Croissance 172,0
Eurazeo PME 278,8
Eurazeo Patrimoine 282,2 353.4
ANF Immobilier 48.93% 8,675,095 22.49 195.1 266.3
Colyzeo and Colyzeo 2 (2) 87.0
Other assets 20.9
Cash 637.2
Tax on unrealized capital gains -51,5 -65.5
Treasury shares 3.39% 2,346,578 82,7
Total value of assets after tax 3,971.9 4,029.1
NAV per share 58.0 58.8
Number of shares 68,502,238 68,502,238

Net Asset Value as of August 20, 2013
Interest Nb shares Price NAV as of August 20, 2013 with ANF at its NAV
€ €M ANF @ €30.7
Eurazeo Capital Listed 797.8
Rexel 9.07% 25,668,739 18.22 467.7
Accor 8.83% 20,101,821 28.98 582.6
Accor net debt -252.6
Accor net(1) (2) 20,101,821 330.1
Eurazeo Capital Non Listed 1,725.0
Eurazeo Croissance 172.0
Eurazeo PME 209.9
Eurazeo Patrimoine 281.0 353.4
ANF Immobilier 48.93% 8,675,095 22.36 194.0 266.3
Colyzeo and Colyzeo 2 (2) 87.0
Other assets 21.1
Cash 793.6
Non-affected debt
Tax on unrealized capital gains -51.8 -66.0
Treasury shares 3.43% 2,346,578 87.9
Total value of assets after tax 4,036.4 4,094.6
NAV per share 59.0 59.8
Number of shares 68,419,738 68,419,738
(1) Net of allocated debt
(2) Accor shares held indirectly through Colyzeo funds are included on the line for these funds

Strengthened cash position
CASH POSITION
In €m
292
637
794
-7636
-32
-48
-142
248
-15
Net
disposals
12/31/2012 06/30/2013 08/20/2013
Dividends
received Dividends
paid
605
Shares
repurchased
Investments*
Debt
reimbursement
and other
Disposals
Other
(*) Mostly investments in Idéal Résidences and IES
(**) Including investment in Cap Vert Finances (€36m), Péters Surgical (€30m) and reinvestment in Flexitallic (€10m)
Investments**
-76

Eurazeo share price performance
20
25
30
35
40
45
50
Eurazeo
LPX
CAC 40
▲ YTD 2013 TSR: +45% vs. 17% for the CAC40
▲ TSR: +126% vs. +54% for the CAC40 between July 2002 and August 16, 2013
12/30/11 02/29/12 04/30/12 06/30/12 08/31/12 10/31/12 12/31/12 02/28/13 04/30/13 06/30/13 08/16/13

DETAILED INFORMATION
ON EURAZEO CAPITAL

37
8.9%
ECONOMIC INTEREST
EQUITY METHOD
▲ Solid revenues growth in first-half 2013, supported by a favorable calendar of events
in the second quarter
• Up 1.8% increase like-for-like, including 3.3% in the second quarter
▲ Robust growth from management and franchise fees
• Up15.9% in first-half revenue, confirming Group transformation
▲ Development in line with the transformation plan of the company: 9,940 rooms
opened, of which 80% asset light
▲ Transforming actions in H1 to sustain future performance of the Group:
• Investments in distribution (€120m over 4 years starting from H1 2013)
• Savings plan (€100m in 2013–2014) with effects in H2 2013
• Reorganization by brand in Europe and appointment of the new Head of Property
Department management

1st Half 2013 highlights
In €m H1 2013 H1 2012
Reported
change
Comparable
change
Revenue 2,694 2,717 -0.9% +1.8%
EBITDAR
% margin
817
30.3%
835
30.7%
-2.2% -0.4%
EBIT
% margin
198
7.4%
212
7.8%
-6.6% -6.4%
Net debt 581 804 -27.7% -

(€m) H1 2013 H1 2012 Var. Var. L-f-L(1)
Hotels 2,628 2,662 -1.3% +1.7%
Upscale & Midscale
Economy
1,680
948
1,710
952
-1.7%
-0.5%
+2.3%
+0.5%
Other businesses 66 55 +19.6%(2) +6.1%
Total 2,694 2,717 -0.9% +1.8%
(1) At comparable scope of consolidation and exchange rates
(2) Strata acquisition (Mirvac)
▲ Highlights:
– First-half 2013 performance driven by a very dynamic second quarter
▲ Financial situation:
– Revenue in the Upscale and Midscale segment rose by 3.7% like-for-like in Q2 (+2.3% in H1),
led by emerging markets, with double-digit growth in Latin America (up 13.9% in Q2)
and Africa-Middle East (up 15.3% in Q2)
– Revenue from Economy hotels increased by 2.4% like-for-like in Q2 (+0.5% in H1), driven by
Germany and the UK, benefited from a few signs of improvement in Italy and Portugal. France’s
performance improved, compared with the early part of the year
– Asset management on track: €248m Adjusted Net Debt Impact to date from binding agreements
▲ Mid-term targets and outlook:
– First-half 2013 trends confirmed in July and expected to continue in H2,
especially in Up & Midscale segment
– The €100m savings plan between 2013 and 2014 has been launched in H1 and will generate
effects starting from H2
– 2013 EBIT guidance: €510–530m vs. €526m in 2012

40
82.2%
ECONOMIC INTEREST
FULLY CONSOLIDATED
▲ Stable sales
+1.6% excluding impact of renegotiation from 2 airports from lease to management
contracts
▲ Slight decrease in EBITDA
Difficult weather conditions early 2013 and slightly disappointing performance
of Park and Guard in Scandinavia
▲ Stabilized net debt
Unfavorable swap rates ended end of H1 2012
In €m H1 2013 H1 2012
Reported
change
Comparable
change
Revenue 334.0 340.1 -1.8% -1.6%
EBITDA
% margin
25.5
7.6%
26.8
7.9%
-4.8% -4.6%
Net debt 641.6 659.3 -2.7% -1.2%

41
▲ Highlights:
• Germany: reorganization & implementation of optimal operational model
• Next debt maturity in April 2014: currently being addressed
▲ Mid-term targets:
• Continuous active portfolio management
• Roll-out of international best-practices
• Focus on new business acquisition

(1) FY impact in 2012 and 2013: €40m and €12m respectively
82.6%
ECONOMIC INTEREST
FULLY CONSOLIDATED
▲ Steady topline performance
• French activities posting a 1.9% organic growth
• International activities suffering from current turmoil, particularly in southern Europe
▲ Improving margins
• +1.5pt increase thanks to tight cost control, accretive acquisitions
and CICE impact (+€4m in H1 2013)
• Temporary impact on EBIT due to change in linen amortization(1)
▲ Successful refinancing
• Amend & Extend of senior facility to October 2017
• Issuance of a €450m High-yield bond as well as a €553m private mezzanine tranche
In €m H1 2013 H1 2012
Reported
change
Comparable
change
Revenue 600.0 580.7 +3.3% +1.0%
EBITDA
% margin
190.3
31.7%
175.9
30.3%
+8.2%
EBIT
% margin
100.5
16.8%
105.8
18.2%
-4.9%
Net debt 2,003 1,969 +1.7%

▲ Highlights:
• Successful refinancing of Elis in June, leveraging on the attractive profile
of the company and the appetite of the market
• Continued M&A strategy with several acquisitions in Europe, o/w Inotex
in January, and the disposal of non-core subsidiary Molinel in May
• Continuous growth supported by strong positions in France and increasingly
in other European countries (e.g. Switzerland)
• Sustained attention on cash generation and deleveraging initiatives
• Clear focus on international expansion both through further acquisitions
and organic growth

▲ Amend & Extend of Senior Facility:
pushing first maturity from 2014 to 2017
• 3 year extension of senior tranches
with next maturity in October 2017
• Uplift in margin to 425bp
▲ Issuance of new debt tranches
• €450m issuance of senior bond (B+) at 6%, due 2018
• Private placement of €553m of mezzanine debt,
split between cash (380) and PIK (173) instruments
at an average margin of 8% over euribor, due 2018
▲ Swap renegotiation
• Sharp reduction of average swap rate at 1,4%,
hedging around 80% of current Senior facilities
▲ Controlled financial cash costs
• Estimated normative cash cost around €115m,
in line with average historical figures(1)
• 5 times PF LTM EBITDA of cash-pay debt as of June
▲ Increasing room to focus on Elis’ development
BEFORE (12/31/2012) AFTER (06/30/2013)
Senior facilities 1,258 Senior facilities 895
General facility 86 General facility 110
Other debts 18 Other debts 21
Senior Sec. Bonds 450
Senior debt 1,362 Senior debt 1,476
Junior Mezz. 350 Senior Sub. Bonds 380
Senior Mezz. 270 Senior PIK Notes 173
Accrued interests 20 Accrued interests 15
Cash (54) Cash (41)
Net financial debt 1,948 Net financial debt 2,003
(1) Based on current Euribor forecasts
In €m
R E F I N A N C I N G

87.4%
ECONOMIC INTEREST
FULLY CONSOLIDATED
In €m H1 2013 H1 2012 reported
Reported
change
Comparable
change
Revenue 864 888 -2.7% -1.9%
Adj. Corp. EBITDA
% margin
18.2
2.1%
7.8
0.9%
+133.3% +137.7%
Adj. EBIT
% margin
68.0
7.9%
58.4
6.6%
+16.4% +17.4%
Corp. Net debt 567 567 +0.1% n/a
▲ Resilience of Europcar’s volumes and better quality of business in still tough but slightly
recovering leisure market resulting in slight decrease in revenues by -1.9%*
▲ Improved EBIT and Corporate EBITDA thanks to successful execution of new revenue
capacity management and continuous deployment of FastLane program measures
more than offsetting decrease in revenues
▲ Continuous focus on Cash management
(*) at constant exchange rates and perimeter

▲ Resilient volumes in tough market environment
– Revenues down by -1.9% vs. H1 2012 at constant exchange rate and perimeter
• Limited decrease in volumes (rental days down by -0.3%) despite exit from non profitable business
in Italy thanks to improved market conditions at Q2 2013 in the B2B segment, still resilient Leisure
demand and a strong refocus on Commercial initiatives
• RPD down by -1.6% in a still tough competitive environment but already reflecting better trend
thanks to Revenue and Capacity Management initiatives
– InterRent launch since April / May 2013 in France, UK and Germany
▲ FastLane costs reduction initiatives already resulting in significant margins improvement
– Continuous improvement of the fleet utilization rate by +1.1pt (74.8% vs. 73.7% as of H1 2012)
– Average Fleet holding cost per unit down by –6.4% over the period
– Network and Headquarters optimization
– Decrease in other overhead costs (incl. insurance)
– Significant Corporate EBITDA margin improvement by +1.2pt vs. H1 2012
▲ Improved Cash-flow generation
– Strong improvement of non fleet and fleet working capital
– Corporate Net Debt of €567m as of June 30, 2013, with Corporate leverage at 4.4x

33.8%
ECONOMIC INTEREST
EQUITY METHOD
▲ Resilience of the Residential Real Estate Services Business in tough Brokerage market
environment
▲ Stable EBITDA despite continuous marketing investment linked to the
“Foncia’s 40th Birthday” Commercial Action Plan thanks to tight cost management
▲ Re-launch of the acquisition strategy with 7 acquisitions closed since the beginning
of the year
In €m H1 2013 H1 2012 reported
Reported
change
Comparable
change
Revenue 287.6 286.7 +0.3% -0.8%
EBITDA
% margin
44.2
15.4%
44.6
15.6%
-1.0% -2.3%
Net debt 339 359 -5.7% n.a.

72%
12%
7%
9%
▲ Slightly increase in revenues by +0,3%
– Resilience of the RRES activities
– Decrease in the Brokerage business but
better trend observed for the Q2 2013
benefitting from recent investments
▲ Stable EBITDA standing at €44.1m
– Good resilience of the EBITDA margin
(15.4% vs. 15.6% in H1 2012) despite lower
revenues and sales force investment in
Brokerage business and lower interest rates
on Client Accounts
▲ Strong deleveraging, in particular thanks to
good management of the Working Capital
– Net debt stands at €339m at June 2013
vs €359m last year despite €14m of
acquisitions outflows as of H1 2013
– Net Debt / EBITDA at 3.8x vs. 4.3x
as of H1 2012
▲ Re-launch of the acquisition strategy
– 7 acquisitions closed since Jan-13 with
a full-year revenue contribution of €12.4m
In €m H1 2013A H1 2012A % var.
RRES France(1) 207.2 204.0 +1.6%
Brokerage 33.3 37.1 -10,2%
Total France 240.6 241.1 -0.2%
International 25.3 24.4 +3.7%
Other and Interco 21.7 21.3 +1.9%
Total 287.6 286.7 +0,3%
Real Estate
Services France
Recurring
revenue: 88%
Brokerage
Other and interco
International
H1 2013A
revenue
(1) RRES France: Residential Real Estate Services France including Joint-Property Management and Lease Management businesses

49
(1) Unaudited management reporting
33.6%
ECONOMIC INTEREST
EQUITY METHOD
▲ Solid top line growth mainly driven by pencil business, with sound growth
in the color business and lower growth in Skin Care
▲ EBITDA is down by 21.9% compared to H1 2012 mainly due to higher production costs
and overheads, and €1.1m one-off costs in the US
▲ €15.4m deleverage compared to June last year, some improvements in working
capital management
In €m (1)
H1 2013 H1 2012
Reported
change
Net sales 153.1 138.2 +10.8%
EBITDA
% margin
14.9
9.7%
19.1
13.8%
-21.9%
Net debt 195.5 210.9 -7.3%

50
▲ Highlights:
• Sales up 10.8% in the first semester 2013
• EBITDA margin down by 4.1 pt due to c. €1.1m one-off in the US (0.7% of sales)
and higher operational cost: management is working to recover the profitability
in the second semester of the year
• Net debt reduction by €15.4m compared to June last year and in line
with last December (-0.2%)
• Working capital improvements especially in the payables and receivables
management, with a strong focus on collection and tangible results in overdue
reduction
• Order intake has been showing positive trend across all the regions
since beginning of the year
• Focus on cash flows and margins to translate the topline growth into cash

51
(1) Italian Fiduciary business (2) Unaudited management reporting
(3) Distribution of 0.12 €/share dividend in H1 2013, corresponding to a total amount of €34m and a dividend of €6.1m for Eurazeo
19.3%
ECONOMIC INTEREST
▲ Stable Group net revenues in a difficult financial environment
Sales negatively impacted from lower Proprietary Trading revenues
▲ The macro-economic environment is mainly affecting the M&A advisory business,
slow growth of sales (+3.7%) although the strengthening of the pan-European team
▲ Strong progression of Customer Financial Assest
Growth supported by both:
(i) Net New Money (including +€0.2bn via COFIB(1) acquisition), and
(ii) Market Performance
▲ €34m dividend distribution in 2013
€6.1m paid to Eurazeo
In €m (2)
H1 2013 H1 2012
Reported
change
Total net revenue 67.4 68.2 -1.2%
Net profit
% margin
7.7
11.4%
7.6
11.2%
+0.7%
Total customer financial assets 6,212 5,355 +16.0%
Total equity(3) 342 338 +0.9%

52
▲ 6 months net revenues at €67.4m, almost stable compared to last last year
same period (€68.2m)
• Advisory fees up 3.7% to €27.4m, leveraging on pan-European team which now
includes Swiss and Scandinavian offices, along with teams based in
Italy, France, Benelux, Germany and Spain
▲ Private banking showing sound growth
• Revenues up 22.9% to €27.3m
• Leveraging on:
(i) main Italian business, which is growing organically and through small
acquisition such as COFIB (independent fiduciary business)
(ii) French division,
(iii) newly built Swiss activity
▲ Net result in line with H1 2012
• GBL is working in two directions: strengthening business teams and leaning
corporate and support functions
• Creating:
(i) strong independent European plateform for M&A advisory on one side,
(ii) strong Private Banking activities on the other side, leveraging on the current
leadership position among Italian independent Private Banking networks
• Recurring dividend distribution (double digit yield)

53
(1) Excluding other revenues (€1.9m in H1 2013 and €4.8m in H1 2012)
31.2%
ECONOMIC INTEREST
EQUITY METHOD
▲ Moncler is pursuing its rapid development
+10% growth in sales for the group
+18% growth in sales for the Moncler brand
▲ The Moncler brand continues to develop its retail channel and to diversify
geographically its sales
The Moncler brand opened 4 new stores in the first half 2013
In €m H1 2013 H1 2012 Change
Net sales(1) 247 225 +10%
Moncler 183 155 +18%
Sportswear 64 70 -9%
Net Debt 239 295 -19.0%

54
M O N C L E R R E T A I L N E T W O R K A S O F J U N E 2 0 1 2
87 stores | + 4 in H1 2013
Retail stores: 31
ASIA
50
EUROPE
6
NORTH AMERICA
• Retail sales represent in H1 2013 more than half of the brand’s sales versus 44% in H1 2012
• The retail channel continues to enjoy a sustained like for like growth at +16%
(at comparable foreign exchange rates) which compares to +13% in the full year 2012
• Continued geographic expansion, Italy representing around a quarter
of the sales in H1 2013

9.1%
ECONOMIC INTEREST
EQUITY METHOD
▲ Another resilient performance in Q2, despite a challenging environment in Europe
and the Pacific
• Q2 sales broadly stable year-on-year on a reported basis ; strong contribution
from Platt and Munro, acquired in H2 2012
• Sequential improvement on a constant and same-day basis (-3.3% in Q2 after
-3.7% in Q1), mainly driven by the United States, but also by China and Brazil
▲ Resilient profitability in H1 with Adjusted EBITA margin of 5.1% thanks to margin
discipline and cost control
• Calendar impact in H1 represented half of the 40bp drop in Adj. EBITA margin
• Distribution and administrative expenses (excl. depreciation) reduced by 2.9%
in H1, close to the 3.5% drop in sales on a constant and same-day basis
In €m H1 2013 H1 2012 Change
Reported revenue 6,468.8 6,568.1 -1.5%
Adjusted EBITA
% margin
331.9
5.1%
370.7
5.5%
-10.5%
Reported net debt 2,628.9 2,458.4 6.9%

ON EURAZEO PME

Financials
(€m) H1 2013 H1 2012
Reported
change
Like-for-like
change
Revenue 220.3 218.4 + 1% + 7%
EBITDA*
% margin
34.8
15.8%
37.5
17.2%
- 7% - 2%
Net debt
Portfolio leverage
163,2**
2.7x
266.7
3.4x
(*) Majority Investments as of June 30, 2013
(**) Net debt out of Flexitallic recorded as Assets for Sale

3 acquisitions in H1 2013
▲Idéal Résidences: group of medical, social and health
care facilities
▲Péters Surgical: the world's 4th-largest surgical suture
specialist
▲Groupe Cap Vert Finance: European leader in electronics
recycling

Investment in Idéal Résidences
Attractive industry with strong resilience brought by longevity,
health awareness, numerus clausus and lack of capacities
Quality platform in leading locations for building-up a larger,
homogenous and consistent group
Highly skilled management team with demonstrated ability
to integrate and transform new acquisitions
Build
a group
of about
20 facilities
1. Numerous French
build-ups opportunities
2. Focus on underperforming
healthcare facilities, pricing power
3. Rerating of a cohesive group
• Idéal Résidences
manages five senior
assisted living facilities
and a post-acute care
and rehabilitation
center, all located in
the greater Paris region
and representing a
total of 515 beds.
• The group generated
€27 million in revenue
in 2012.
Direct sourcing March 2013
Investment €21 million
Equity interest 54%
Group of 5 nursing homes
and post-acute facilities

Investment in Idéal Résidences
AGING POPULATION IN FRANCE
In million people over 60 years old
NURSING HOME MARKET
In France
23.6
18.9
15.6
2060*2025*2013
New opportunities:
• New consumer expectations
• Investment needs
+21%
+25%
(*) Insee expectation in 2010
13.9
12.0
9.2
9.0
55.9
• 225,000 new dependent
people every year in France
• Expenses for dependency will rise up
to €22bn in 2012 (1.1% of the GDP)
• Government's position toward dependency
is expected to change and therefore bring
opportunities
Orpéa
Domus Vi
Korian
Médica
Others
In %

Investment in Péters Surgical
• Founded in 1926,
Péters Surgical has three
operating locations
all maintaining a high
standard of service.
Its products are
recognized worldwide
and distributed in over
75 countries.
in 2012 (50% outside
France).
4th largest surgical
suture specialist
Auction July 2013
Equity interest 90% French specialist in sutures, wall reinforcement and drains
Resilient and duplicable business model internationally
Strong network abroad, 75 countries covered at export,
base for further international expansion
Build
an international
leader
1. Room to accelerate
organic growth in France
2. Consolidate business position
through the strengthening of R&D
3. Numerous identified
international build-ups

The surgical suture market
WORLDWIDE SUTURE MARKET
In €bn
FRENCH SUTURE MARKET
3.2
2.4
2018e2011
+4.4% CAGR
• US, Brazilian and Chinese markets:
the most attractive markets in terms
of size and growth perspective
• Eastern European and Asian countries:
important development potential
remaining
• The French sutures market (7% of the
worldwide sutures market) is mature and
stable, concentrated among 4 players
making the arrival of a new challenger
very unlikely
• High entry barriers mainly due to
regulatory requirements (EC-marking,
etc.)
• Sutures have proved to be more resilient
to public spending’s higher monitoring
than medical equipment
• #4 player worldwide
• #3 in France
Péters Surgical benefits
from a strong position:

Investment in Cap Vert Finance
• CVF is specialized in
leasing, recycling and
maintaining IT systems
through its brands AS
Lease and IB
Remarketing.
in 2012.
Direct sourcing July 2013
Equity interest 57%
European leader in
electronics recycling
through PLC management
Sustainable strong growth in maintaining activities
High recurring revenues
Strong profitability notably related to the recycling activity
Efficient operational reporting
Build an
international
leader
1. International business
development in emerging
countries and the USA
2. Numerous build-ups opportunities
in light of effective economies
of scale
3. Business developments beyond
telecom industry

Electronics recycling market
FLEET OF SERVERS (WORLDWIDE)
In million units
WORLDWIDE STORAGE MARKET
4138
3532
2013201220112010
TCAM: +9%
21
19
17
201120102009
In Mds$
TCAM: +11%
• Increase in demand for IT equipment
• Need for spare parts for maintenance and power increase
• New maintenance needs to increase the IT equipment lifespan
• Exponential increase in power needs and medium-term storage
• Continuous increase worldwide in the volume of data to process
(servers), to deliver (network equipment) or to store
• Fleets of servers grow worldwide
Many
opportunities:

Portfolio
As of June 30, 2013
€279m
As of July 17, 2013
€210m

Highlights
34.8
24.7
6.5
30.4
55.7
103.0
220.3
37.5
45.0
30.1
58.4
84.8
218.4
Other
(Gault & Frémont,
Mors Smitt, Fondis)
Portfolio EBITDA**
+1%
+21%
-5%
+1%
na
-7%
• Strong activity in maintenance programs in France & USA
• Decrease on the Canadian activity
• New projects in Asia and Germany
• Opening of 3 restaurants in H1 2013 and one
on the new concept “Leon de B”
• On a comparable basis, sales decreased by 5.6%
(like the market)
• Launch of the Camille Albane activity in the US
• Acquisition of Idéal Résidences the 26th of March 2013
• New build up projects
• Sale of Mors Smitt to Wabtec mid-June 2012
• Average margin: 15.8%
• Decrease mainly due to Léon de Bruxelles
market conditions
+7%
-2%
Change
Change in
l.f.l. basis*
H1 2012
H1 2013
R E V E N U E (€m)
(*) Adjusted for Mors Smitt sale and Idéal Résidences acquisition (**) Majority Investments as of june 30,2013

ON EURAZEO CROISSANCE

Financials*
(*) Economic financials: 100% of 3SP Group’s consolidated financials and 39.3% of Fonroche’s consolidated financials
(€m) H1 2013 H1 2012
Reported
change
Revenue 29.3 33.7 -13%
EBITDA
% margin
-0.7
NM
6.1
18.1%
nm

Investment in IES
O N B O A R D C H A R G E R S E X T E R N A L C H A R G E R S
Car
manufacturers
Tier 1
Electric vehicles
manufacturers
Industrial
electric vehicles
External chargers
for private and
professional use
Public
charging
stations
• IES is specialized in the
design and manufacturing
of charging solutions,
being among the few
companies globally
to manage both of the
existing standards in
electric vehicle chargers,
CHAdeMO and Combo
• IES managed to grow
its revenue from €5m
in 2006 to €14m in 2012
Direct sourcing June 2013
EV €22 million
Equity interest 93%
Pioneer in electric
vehicle chargers
Diversified product offering
Strong R&D and technological knowhow
Demonstrated capability to supply the world’s major OEMs
Build a global
leader in electric
vehicle chargers
1. International business
development in Europe,
North America and Asia
2. Boost R&D activities
3. External growth opportunities
Wall-box

The electric vehicle market
0
100
200
300
2011 2012 2013 2014 2015 2016 2017 2018
(*) Excluding conventional
hybrids (no recharge)
Source: market surveys
THE EUROPEAN ELECTRIC VEHICLE MARKET*
In k units
Low expansion scenario:
Steady growth but limited
to a niche market
Significant expansion scenario:
Strong consumer adoption
▲ The electric vehicle addresses several critical challenges of which:
• Decreasing CO2 emissions
• Reducing dependence on fossil fuels
• Cutting urban air pollution
▲ The electric vehicle market presents a high growth potential with
all major car manufacturers launching an electric model
2
1

NAV as of June 30, 2013
€179m
Portfolio
Invested
amount as of
June 30, 2013

ON EURAZEO PATRIMOINE

73
▲ H1 Rents in line with budget
– +8% like-for-like growth
– FY 2013 rents target +14% confirmed
▲ Appraisal and NAV stable
– +€3.4m change in fair value
– Triple Net NAV stable at 30.7 €/share (despite dividend paid of 1€/share)
▲ Follow on projects in Marseille
– Ilot 34 project to be delivered this summer in Marseille fully commercialized
– Desbief site in Marseille available for restructuring
▲ Acquisition in progress
– Bordeaux: two investments secured out of one fully rent to Casino
– Lyon “Carré de Soie”: new investment for 36,000 m² offices building rent
to Alstom Transport
– Bid placed for an asset in Lyon – Rue de la République

Financials
74
IFRS (in €m) H1 2013
H1 2012
ProForma
Change H1 2012 H1 2011
Gross Rental Income 17.1 14.5 17.9% 38.5 45.2
EBITDA 11.4 8.4 40.5% 30.6 38.3
% margin 66.7% 57.9% 11.1 79.5% 84.7%
Recurring EBITDA 11.4 8.4 40.5% 30.6 30.5
% margin 66.7% 57.9% 11.1 79,5% 81.5%
Cash Flow 8.3 5.1 70.6% 21.8 29.6
Recurring cash flow 8.3 5.1 70.6% 21.8 21.7
RCF per share 0.5 0.8 0.8
In €m
H1 2013
Reported
H1 2012
Reported
H1 2011
Reported
Real Estate portfolio 927 1,685 1,607
Net Debt 357 542 489
NAV per share 31.4 41.2 40.5
Triple Net NAV 30.7 39.7 39.6
LTV 38.7% 32.2% 30.4%

OTHER

A long-term shareholder base and strong corporate
governance
SHAREHOLDING STRUCTURE
as of June 30, 2013
- Separation of the roles
of Chairman and CEO
- Independence of the Supervisory
Board: 7 independent members
out of 12
- Audit Committee, Finance
Committee, Compensation
and Appointments Committee
- Existence of a shareholder
agreement between founding
families (former SCHP)
(1) Including 3.39% of treasury shares
(2) Concert as of June 13, 2013
Crédit Agricole
18.01%
Sofina
5.73%
8.74%
22.23%
Founding
Families(2)
20.29%
x.x% = voting rights
23.46%
Strong corporate Governance
Free float(1)
55.97%

Financial Agenda
3rd Quarter Revenue November 7, 2013
FY 2013 Revenue & Results March 19, 2014
1st Quarter 2014 Revenue (after market close) May 6, 2014
Shareholders' Meeting May 7, 2014

About us
Eurazeo contacts
Investor Relations
Caroline Cohen
• ccohen@eurazeo.com
+ 33 (0)1 44 15 16 76
Corporate & Financial Communication
Sandra Cadiou
• scadiou@eurazeo.com
+ 33 (0)1 44 15 80 26
Eurazeo shares
• ISIN code : FR0000121121
• Bloomberg/Reuters : RF FP, Eura.pa
• Indices : SBF120, DJ EURO STOXX, DJ STOXX
EUROPE 600, MSCI, NEXT 150, LPX Europe,
CAC MID&SMALL, CAC FINANCIALS
• 68,419,738 shares in circulation
• Statutory threshold declarations 1%
Research on Eurazeo
• Alpha Value Catherine Radiguer
• Exane BNP-Paribas Charles-Henri de Mortemart
• Goldman Sachs Markus Iwar
• HSBC Pierre Bosset
• JP Morgan Cazenove Christopher Brown
• Kepler Cheuvreux Pierre Boucheny
& David Cerdan
• Natixis Céline Chérubin
• Oddo Christophe Chaput
• SG Patrick Jousseaume
• UBS Denis Moreau
www.eurazeo.com

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