Investor Presentaiton

Asset Management Performance Doubling of AUM since global financial crisis and stable fees drive earnings AUM1 ($ in billions) $300 250 Earnings from Operations, Awarded Basis ($ in millions) $600 $273 500 200 150 100 50 50 400 300 200 100 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 3Q '212 AUM Earnings from Operations, Awarded Basis Avg. Fees (bps) 49 50 50 48 480 3 1 LAZARD 2 3 50 50 54 56 54 54 ...... 54 ..... 54 ....4 Assets under management as of December 31 each year Assets under management as of September 30, 2021 Average Fees (bps) represent management and other revenues 52 529 53 51 49 49 47 44 20

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