Investor Highlights

Long-term Investment Thesis Lazard is a uniquely diversified, global financial advisory and investment manager with an established track record of performance Distinctive culture and people provide a sustainable foundation through macroeconomic cycles, market and industry evolution Seasoned expertise and innovative insights attract clients across the spectrum of industries and geographies Premier brand established in the world's developed and emerging markets, providing both stability and growth for our franchise LAZARD Demonstrated cost discipline and consistent focus on long-term value creation Two businesses, independent and complementary, provide diversified access to deep markets with independent demand dynamics LAZARD Strong capital structure and cash flow generation enables annual capital returns through dividends and share repurchases 4

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