Groupe Bruxelles Lambert Sa · EURONEXT:GBLB
Groupe Bruxelles Lambert Sa — Shareholder Meeting (May 2025)
26 slides from Groupe Bruxelles Lambert Sa's shareholder meeting presentation, May 2, 2025
Slide 1: Delivering meaningful growth
Delivering meaningful growth
Slide 2: 2025 Ordinary Shareholders' Meeting
2025 Ordinary Geu@r¢ Shareholders’ \ \_
Slide 3: Agenda
Agenda Pn a Strategy & performance... Financial update 0.0.0.0... cccccceccsessesseseesessesessesseeeeseeseeneneeenees 14 Commitment to solidarity — GBL ACT.............0ccceeeeees 17 OQUtlOOK 0.0... ees eeceeceeseecesseesessesseeseesnesseesessseesesseessesseeseessesneens 20
Slide 4: 1. Strategy & performance
1. Strategy & performance GBL | «
Slide 5: GBL's portfolio: moving toward more private assets
GBL’s portfolio: moving toward more private assets 2021 2027 target WEIGHT | RETURNS" LISTED Rep i High single pe oo () Defined as growth in net asset value per share GBL | s
Slide 6: Generating €7bn of resources to finance investments in private assets and shareholder returns
Generating €7bn of resources to finance investments in private assets and shareholder returns over 2024 - 2027 ~€7bn ~€7bn INVESTMENTS & CASH GENERATION RETURNS TO SHAREHOLDERS ~€2.4bn Disposals already executed() -€5bn (value crystallization on listed assets adidas and SGS) anticipated disposals Ca
Slide 7: Completion of nearly half of the anticipated disposals through two partial sales
Completion of nearly half of the anticipated disposals co eS through two partial sales » Strong positioning and recent - An attractive sector (“TIC”) and operational performance favor model (b-to-b) future share gains » Sector fragmentation provides » Share price performance in 2024: +29% consolidat
Slide 8: Focus on operational performance
Focus on operational performance * FY 2025': Macroeconomic and geopolitical top-line headwinds » Efficiencies offsetting the impact » H1 2025): + 65bps margin®) expansion » FY 2025": sustained margin®) and dividend per share (0) Ending June 30, 2025 {2) Ending December 31, 2024 (8) Organic Profit fr
Slide 9: Solid operational performance overall and continued value creation
° ° 1) Solid operational performance overall and +€225m continued value creation Value creation Direct private assets in 2024 (22% of the portfolio) @ sffidea Sancptis TAMQ\KQ 6% 2% of the portfolio of the portfolio. 10% of the portfolio Challenging context Positioned to become a for the bicycle sec
Slide 10: Sanoptis - video
Sanoptis - video
Slide 11: Sanoptis: Accelerating growth with a third-party capital raise in preferred equity
Sancptis Accelerating growth with a third-party capital raise in preferred equity Since GBL's entry in July 2022: > +173 +4 surgical centers countries +348 +1.5m doctors annual treatments > Implementation of Al to enhance diagnostics, enabling earlier treatments and better outcomes Capital raise in
Slide 12: Disciplined capital allocation and strategy execution
Disciplined capital allocation and strategy execution GBL Capital (18% of the portfolio) GBL|ICAPITAL Successful renewed strategy Investments in funds and co-investments that: * are typically up to €50m contribute to NAV growth diversify the portfolio offer downside protection contribute to GBL’s di
Slide 13: Stable Net Asset Value per share in 2024
Stable Net Asset Value per share in 2024 NAV per share €113,302) NAV per share €113.64", Share price gains of SGS and adidas offset by the evolutions of Pernod Ricard, Umicore and Concentrix falue creation of + €: at GBL Capital m compensated by significant distributions of €(487)m 16,671 15,681 (18
Slide 14: 2. Financial update
| 2. Financial update GBL | 1s
Slide 15: Resilient cash earnings
Resilient cash earnings 4 Resilient at €336m (€414m in 2023) 4 €132m in 2024, compared to 4 Dividends €389m (vs. €465m €1723m in 2023 in 2023): Idividend paid b 4 Lower contribution from the 4 exceptional dividend paid by operating companies, mainly due Imerys in 2023 (€109m) to deconsolidation of W
Slide 16: Strong balance sheet and sound financial position
Strong balance sheet and sound financial position Strong liquidity profile €5.1bn at year-end 2024 Undrawn credit lines €2.45bn Loan To Value 3.0% at year-end 2024 enabling GBL to seize attractive investment opportunities Credit rating Al from Moody’s 25% 20% 15% 10% 5% 0% Loan To Value the healthca
Slide 17: 3. Commitment to solidarity — GBL ACT
3. Commitment to solidarity — GBL ACT GBL |v
Slide 18: Acting today for a better tomorrow
Acting today for a better tomorrow 2024 €2.5 million supporting close to 40 projects, mainly in Belgium 4 pillars > Education > Healthcare & Scientific Research » Social Impact » Environment GBLIACT DUOFORAJOB intergenerational coaching TOEKOMST AT ined b~<| CHU Saint-Pierre 7) UMC Sint-Pieter SUO¥
Slide 19: km of Brussels — video
20 km of Brussels — video
Slide 20: Outlook
Outlook + GBL |20
Slide 21: Shareholder returns — a sharply enhanced dividend combined with opportunistic share buybacks
Shareholder returns — a sharply enhanced dividend combined with opportunistic share buybacks Steady growth beyond 2024 6 ! following asset disposals! | executed in 2024 and QI 2025 } Dividend per share Year end 2021 2022 2023 2024 2025 2026 , C2) »~ >» Share ~€1.9bn Continuing opportunistic buybacks
Slide 22: Aiming to deliver double-digit TSR, driven by NAV per share growth
GBL Aiming to deliver double-digit TSR, driven by NAV per share growth and attractive shareholder distributions 2024-202 Increasing distributions to shareholders Double-digit TSR off an already enhanced base = per annum?) of €5.00 dividend per share for 2024" NAV per share growth + () Payable in 202
Slide 23: 5. Appendix
5. Appendix GBL | 2s
Slide 24: Diversification in terms of sector and geography
Appendix Diversification in terms of sector and geography SECTOR GEOGRAPHY" United States; 2% Digitat 4: ; Spain; 2% ‘etal ave Belgium; 3% Industry: Nhe Switzerland; 29% Netherlands; 10% Consumer; 27% Healthcare; 16% Germany; 12% Services; 23% France; 23% GBL Capital & other; 19% Other; 19% ‘Asat De
Slide 25: Disclaimer
Disclaimer This presentation has been prepared by Groupe Bruxelles Lambert (“GBL”) exclusively for information purposes. This presentation is incomplete without reference to, and should be viewed solely in conjunction with, the oral briefing provided by GBL. This document should not be construed as
Slide 26: For more information
GBL For more information: Xavier Likin Chief Financial Officer Tel: +32 2 2891772 xlikin@gbl.com Alison Donohoe Head of Investor Relations Tel: +32 2 28917 64 adonohoe@gbl.com Groupe Bruxelles Lambert (“GBL”) is an established investment holding company, with seventy years of stock exchange listing
Groupe Bruxelles Lambert — Shareholder Meeting (May 2025) on 6ix