French open-end investment company

with a board of directors

Head Office: 121, boulevard Haussmann 75008 Paris

333 455 459 R.C.S. Paris


This English translation is provided solely for the convenience of English speaking shareholders.

Combined General Meeting

The Shareholders are hereby informed that they are convened to the Combined General Meeting that will be held on February 12th, 2021 at 15:00 p.m. “Paris time” at the premises of Lazard Frères Gestion SAS, 25, rue de Courcelles, 75008 Paris, to deliberate on the below agenda.

In the event that the Extraordinary General Meeting of February 12th, 2021 would not be validly held on first notice in the absence of the requisite quorum, a second notice will be published on February 24th, 2021 at 15:00 p.m.


Items to be considered by the Ordinary General Meeting

– Board of Directors’ reports on operations for the financial year ending October 30th , 2020 and on its management;

– Auditor’s general report on the financial statements for the financial year ending October 30th , 2020;

– Discharge to directors;

– Approval of the financial statements for the financial year ending October 30th , 2020 and allocation of the net income;

– Auditor‘ special report on conventions addressed by article L.225-38 of the French Code de commerce and approval of the aforementioned conventions;

– Fixing of the total amount of attendance fees;

– Renewal of directors‘ mandates;

– Non-Renewal of a director’s mandate;

– Renewal of a non-voting board member’s mandate;

– Nomination of two directors;

– Powers to carry out formalities.

Items to be considered by the Extraordinary General Meeting

– Amendment of the articles of association : article 4 “Head Office”;

– Powers to carry out formalities.

All shareholders, irrespective of the number of shares held, may attend this meeting either by participating personally or by appointing another shareholder or their spouse to attend by proxy. The ­ownership of shares shall be evidenced by providing a shareholder certificate of participation at the headquarters of Lazard Frères Gestion at the latest two business days prior to the meeting.

The holders of registered shares (custody only or administered account) will be allowed to attend the meeting if they provide proof of their identity and subject to their prior registration in the company shareholder register at least two business days before the date set for the meeting.

Pursuant to Article R.225-72 of the French Code de commerce, shareholders may, from the date of this insertion and up to 25 days before the shareholders’ meeting, request the addition of draft resolutions to the agenda for the meeting.

Requests should be sent to the company’s registered office. They must be accompanied by a brief explanatory statement as well as a share registration certificate.

This notice shall also serve as formal notice of meeting provided that no modification is made to the agenda following the applications for registration of draft resolutions submitted by shareholders. 520065

The Board of Directors