Groupe Bruxelles Lambert : Non-deal roadshow (fixed income) – Investor presentation (January 2022)

Delivering meaningful growth

January 19, 2022	1

GBL's strategic journey

1	GBL's unique model	3

2	Active investor	7

1. Portfolio rotation
2. Diversified portfolio
3. Proprietary sourcing

3	Instrumental in growth	14
	& value creation

a. for our portfolio

b. for GBL shareholders

4	Transformation toward	19
	more private assets & Sienna

1. Private assets
2. Sienna

5	ESG integration

6	Conservative balance sheet
management &

dividend policy

7 Conclusion

8 Appendix

1. Financial update
2. Reinforced teams

32

48

55

57

2

GBL's strategic journey

	1	GBL's unique model	3

3

1. GBL's unique model

Solid and stable shareholding structure

data as of November 30, 2021 (1)

Treasury	Float -
shares	registered
4.66%	1.66%

Frère

Group

50%

Pargesa		29% of capital	GBL
Power
	Corporation of	44% of voting rights
	Canada group
	50%		Pargesa
			29.13%

Float -

dematerialized

64.55%

(1) Accounts for cancellation of 5 million shares on November 4, 2021	4

1. GBL's unique model

One-of-a-kind features, reaffirmed DNA

Patrimonial

Active &

Focused

Flexible

Unique

Low structure

Engaged

mandate

network

costs

• Solid and stable shareholder base, family values and
  DNA
• Permanent capital with long-term outlook
• Conservative leverage
• 1. See page 29 for more detail

• Creative, supportive	• Sizeable deal flow
and challenging	but selecting and
Board member	overseeing a limited
aiming to unlock	number of core
long-term value	investments

• Able to tackle	• Geographic
complex situations	and sector focus

• Ambitious 1.5°C SBTi climate commitment

• Equity investments ranging in size from €250m to €2bn
• Majority or minority stakes with influence
• Public or private companies
• Growing exposure to alternative assets through its dedicated asset management platform Sienna (1)

• Strong pan-European•< 20bps Opex vs.

network through		NAV (2016-20)
previous professional	•	46% Opex coverage
experiences and		by yield
presence in
	enhancement
high-quality Boards
	income (2016-20)
• Multicultural	•	No material tax
Board of Directors
	leakage

5