Eurazeo

Johann-Felix, Jovana and I were delighted to host the first CAIA Association event at our new Eurazeo office in Munich this week. A big thank you to our outstanding panelists Sophie , Pei Pei, Marvin , Ingo and Sascha , as well as Patrick for moderating a highly engaging discussion on the lower mid-market buyout space. And many thanks to all attendees for the strong engagement and thoughtful conversations throughout the evening. Looking forward to the next one already. Allianz Global Investors Eurazeo MEAG Penguin Capital Piper Sandler SwanCap SHS Capital

🚀 Thrilled to announce the exit of our investment in Rendesco to Pioneer Point Partners ⚡ At Eurazeo Future Industries, we back companies building the energy and industrial systems of tomorrow, driven by long-term structural trends and increasingly attractive to infrastructure and strategic investors as they scale. 🏗️ Rendesco is a strong illustration of this “pre-buyout / pre-infrastructure” positioning, which can also enable shorter investment cycles and faster realizations as companies mature into infrastructure-grade platforms. Alongside Alastair and his team, we supported the company through an ambitious scaling phase: 🔹 tripling revenues in two years 🔹 strengthening its leadership in low-carbon heat networks in the UK 🔹 supporting the acquisition of ADP’s geothermal drilling operations 🔹 helping transform the business into a scalable end-to-end energy platform 📈 Today, Pioneer Point Partners takes over with a £100m commitment to support the next phase of growth. 👏 A huge thank you to Alastair Murray and his team for their trust and execution throughout this journey and to our fellow investors throughout this journey. Very proud of what we achieved together. Pierre Devillard Antoine Daviaud

Q1 2026 trading update confirms Eurazeo 's growth trajectory. Q1 showed good momentum across the board. The Group raised €1.1bn (vs. €0.9bn in Q1 2025) and we recorded healthy paces of capital deployment and realizations. Our underlying portfolio companies keep delivering, with solid revenue growth across all strategies, in an environment that continues to be complex to navigate. Furthermore, our new Investment Grade ratings from S&P and Fitch (BBB) and the success of our inaugural €500m bond issue further underscored the strength of Eurazeo's financial profile. This marks an important step in Eurazeo 's journey, highlighting the confidence investors place in us. Many thanks to our clients and partners for their trust and congratulations to the entire Eurazeo team! Christophe BAVIERE Sophie Flak Laurence Branthomme Pierre Bernardin Gabriel KUNDE

Very proud to support the growth of the European biotech sector! Kurma Partners , a member of the Eurazeo group, today announces the final closing of Biofund IV at €215 million! For the past 15 years, Kurma has patiently built a unique network with Europe’s top academic researchers to identify the most promising science, fund it from day one, and support it through to maturity. Biofund III has already proven this: Amolyt Pharma acquired by AstraZeneca , Emergence Therapeutics acquired by Eli Lilly and Company , Corlieve Therapeutics acquired by uniQure ➡️ 3 acquisitions by leading groups, born from European science. Biofund IV continues this ambition: around twenty investments in early-stage startups and the creation of new biotech companies from scratch, all focused on treating serious or incurable diseases. Europe is one of the richest regions in the world in terms of academic research. Our mission is to ensure it has funding structures that match this strength. Our motto, "Building European champions" has never resonated more strongly. 👏 Thank you to all our investors for their renewed trust in this new vintage and kudos to the Kurma teams for all their hard work! Rémi Droller Thierry Laugel

US data is striking: secondaries are rapidly becoming a core liquidity engine in venture. Europe is still catching up — but longer exit timelines and weaker IPO markets may make this shift even more structural. This shift was at the core of a recent discussion on secondary transactions, hosted by ScaleX Invest ( Sébastien Paillet ), Jasmin Capital ( Gilles Morel ) and Stephenson Harwood ( Emmanuelle Corcos ), bringing together very practical perspectives from both buyers and sellers. A few takeaways from the panel: • Secondaries are no longer a niche tool. With exit timelines extending, they have become a key lever to manage portfolios, generate DPI and create liquidity in a more constrained environment • The market is evolving quickly, with multiple structures co-existing: LP-led transactions, GP-led processes, continuation funds, direct secondaries and SPVs around large late-stage rounds • It remains a buyer’s market. Asset quality is critical: Tier-1 companies and Tier-1 GPs attract capital, while revenue-only valuation frameworks are increasingly challenged. Profitability and clear exit visibility matter more than ever At Eurazeo, we see this shift very concretely. In 2025, Eurazeo raised €1bn+ of continuation vehicles, and within our Venture platform, a dedicated team now works alongside the investment teams to actively structure liquidity and exit strategies across the portfolio. Thanks to the team driving this forward: Christophe BAVIERE Benoist Grossmann Matthieu Baret Louis Bô Raphael Lavner Emilie Termignon Arthur Berthollet Gaston Samele María Robledo Martín Victoire de Boisanger Pauline Crochard Guillaume Cavalin Eurazeo The implication is clear: secondaries are moving from a tactical tool to a strategic capability. Great to share the stage with Augustin Palle (Quadrille Capital), Richard Clarke-Jervoise (ODDO BHF) and Pauline Roux (Elaia). Looking forward to continuing the conversation.

How can we move from awareness to action, by meaningfully integrating biodiversity into our investment activities and processes? A topic that is very close to our hearts at Eurazeo Planetary Boundaries ( #EPBF ). We took advantage of the arrival of spring to explore it during an afternoon at #De_Hortus , #Amsterdam , one of the world’s oldest and most iconic botanical gardens. This workshop was an opportunity to demonstrate that there is a real field of opportunities beyond natural capital approaches, and to reiterate that regeneration approaches are essential but not sufficient. We proposed a framework for action organized around four key levers, which help reconcile the various global frameworks and objectives (IPBES, Kunming-Montreal…): 1️⃣ Prevent biodiversity loss by reducing pressures 2️⃣ Protect what exists 3️⃣ Regenerate degraded ecosystems 4️⃣ Transform business models and integrate biodiversity into decision-making processes Together with Jobien Laurijssen , we also explored the landscape of tools and methods for measuring impacts on biodiversity, to inform and enrich our investment processes, based on concrete examples. Finally, we had the privilege of welcoming Camille Etienne , who had just returned from a scientific expedition to Antarctica that lasted more than two months. Wilfried Piskula interviewed this leading French environmental activist about how she bridges the gap between rigorous environmental science and impactful public advocacy. The resource allocation choices we make today shape the trajectories of tomorrow: “Businesses and other key actors can either lead the way toward a more sustainable global economy or ultimately risk extinction… both of species in nature, but potentially also their own.” IPBES , February 9, 2026 Thank you all for this special moment—a unique opportunity to bring ideas from diverse backgrounds into the world of investing, to compare our realities and challenges, and to draw inspiration from each other’s insights to expand the realm of possibilities. Eurazeo has developed a unique method for analysing and assessing the impact on biodiversity, thanks notably to the work carried out throught its new fund Planetary Boundaries. Contact us to learn more. Wilfried Piskula , Erwann Le Ligné , Lea Le Berre , Anjini Sharma , Marième Diack , Benoit Dessolain , Axel de Robillard , Mathéo JAGOT , Caroline Flaissier , Sophie Flak #biodiveristy #Kunming_Montreal #impact_investing #amsterdam

⚡ Deal announced !!! Eurazeo sells its stake in WeMaintain to Otis Elevator Co. A French tech gem joining forces with the global category leader. WeMaintain was built on a simple idea: bringing technology to a largely undigitalized building maintenance market. When we invested in 2019, the vision and a great product was already there. The challenge was execution: industrialize the tech and scale internationally. The team delivered at scale. From France, to the UK and Asia (Singapore, Hong Kong). The model proved robust in complex environments, while navigating COVID and the tech downturn with strong, consistent growth. This transaction is the result of that journey. A powerful combination of: 👉 best technologies and product 👉 execution 👉 exceptional founders Now entering a new phase of global scale alongside Otis Benoit DUPONT Jade Francine stepping off your Board with strong conviction that the next chapter will be another great success ! Thank you for your trust over the past years. #Deal #ScaleUp #IndustrialTech #Eurazeo #WeMaintain Raphael Cattan Marc OIKNINE Antoine Boulin Tom H. Marine A. David GRIOT Pierre-Edouard BERION Jing Shi Isaac Ng Adrien Neel Marinus Oosterbeek Yann Lagalaye Hélène Parent Thibaut Schlaeppi Michael Benabou Claudio Bruno Victoire de Boisanger Pierre Devillard Alice Besomi Antoine Daviaud Maryam Mahla Julien Mialaret Xinle Su, CFA Ernest Xue Louis Bô Vanessa Campbell Benoist Grossmann Matthieu Baret Emilie Termignon Zainab JOUIBLI Stello Cyr Raphael Lavner Arthur Berthollet Gaston Samele Hortense Salet

Very pleased to announce that the Capital team at Eurazeo has signed an agreement to acquire a majority stake in NETCO , a leading European provider of critical maintenance services for conveyor systems in vital industries. And very excited to partner with Samuel and James PERRIEZ , as well as the whole NETCO team, to continue supporting together the impressive growth trajectory of the Group across Europe and beyond! Many thanks to everyone involved who supported us making this transaction happen. And congratulations to the Ardian team, notably Alexis Lavaillote and Maxime Séquier , for the successful development of NETCO over the past years, alongside Samuel and James. 🤝 Edouard Guigou , Félicité du Pasquier , Arthur de Gibon , Thomas Gallois , Christian Hoyos , Cécile Gilliet , Sébastien Ouvry , Stéphane Bostyn , Guillaume Gratias , Céline Allignol , Simon-Pierre Ben Soussan , Henri HELIER , Renaud THIARD , Antonin de Margerie , Eric Sondag , Amandine Ayrem , Maxime de Bentzmann , Henri Domange , David Dongwei Yang 杨东为