Investor Highlights

Capital Management Strategy Commitment to shareholder value creation Goals Gradually increase common dividend over time Repurchase shares to offset dilution from year-end share-based compensation Retain appropriate cash balance to support operations, accruals consistent with our business, and regulatory requirements Disciplined approach to identifying and executing on growth and investment opportunities Return capital to shareholders annually in the form of additional share repurchases and/or extra cash dividends LAZARD Note: Subject to other uses of capital 33

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