Presentation

April 2, 2015

Summary

Yearly consolidated results

(January 1, 2014 – December 31, 2014)

Marc Ladreit de Lacharrière

Groupe Marc de Lacharrière

Fimalac

Fitch Fimalac Développement

Fitch Ratings

Fitch Solutions

NorthColonnade

100 %

80.3%

50 % 100 %

100 %

100 %

80 %

Groupe Lucien Barrière

Groupe SFCMC

Vega

Gilbert CoullierProductions

Auguri Productions

Trois S

40 %

10 %

100 %

40 %

40 %

Webedia

79.1 %

Fitch Learning100 %

K-Wet Productions40 %

100 %

Simplified group structure as at December 31, 2014

7.2 %Treasury stocks

Business Monitor

International

100 %

Encore Productions

DebjamComedy Club

40 %

50 %

Page 3

Pôle Nord100 %

CONSOLIDATED DATA

SALESEconomic weight (100%) and consolidated data by activity

(in € millions) 2013

(jan 13 – dec 13)

2014

(jan 14 – dec 14)

ChangeConso

2013

Conso

2014

Fitch 740.0 840.9+ 13.6 % as reported

+ 9 % like for like0.0 0.0

Groupe Lucien Barrière 607.0 602.8 - 0.7 % 0.0 0.0

Entertainment 165.6 166.1 + 0.3 % 40.2 41.7

Digital 21.4 62.3 NC 21.4 62.3

Real Estate / Others 6.2 10.8 NC 6.2 10.8

Sales 1 540.2 1 682.9 + 9.3 % 67.8 114.8

Economic weight 100%

Page 5

EBITDA Economic weight (100%) and consolidated data by activity

(in € millions)2013

(jan 13 – dec 13)

2014

(jan 14 – dec 14)Change

Conso

2013

Conso

2014

Fitch 302.5 357.7+ 18.2 % as reported

+ 16.6 % like for like0.0 0.0

Sales Margin 40.9 % 42.5 %

Groupe Lucien Barrière 140.2 131.4 - 6.3% 0.0 0.0

Sales Margin 23.1 % 21.8 %

Entertainment 10.8 13.9 + 28.7 % 2.3 0.4

Sales Margin 6.5 % 8.4 %

Digital -0.7 11.5 NC - 0.7 11.5

Sales Margin 18.5 %

Real Estate 3.3 9.6 NC 3.3 9.6

Others -9.6 -12.3 - 9.6 - 12.3

EBITDA 446.5 511.8 + 14.6 % - 4.7 9.2

Sales Margin 29.0 % 30.4 %

Economic weight 100%

Page 6

From consolidated EBITDA to consolidated Net Earnings

(in € millions)2013

(jan 13 – dec 13)

2014(jan 14 – dec 14)

Net result from fully consolidated companies :

EBITDA - 4.7 9.2

Depreciation and provision - 9.6 - 11.5

Recurring operating result - 14.3 - 2.3

Non recurring result - 2.7 - 9.0

Net financial result 6.4 - 3.6

Others (miscellaneous. taxes. minority interests) - 0.7 9.6

- 11.3 - 5.3

Fitch Group profit for the period 78.1 81.5

GLB profit for the period 10.9 8.9

Profit of others associates 1.3 1.9

Net earnings – group share 79.0 87.0

Page 7

Sale of 30 % of Fitch Group

Completion date : Mars 12, 2015

Net proceeds after tax : 1 849 M€

Gross proceeds for the sale of 30 % of Fitch Group : 1 989.5 M$

Equivalent in € the day of the sale : 1 875 M€

Page 8

FITCH GROUP

Fitch GroupSales by segment

(in € millions) 2013(jan 13 – dec 13)

2014(jan 14 – dec 14)

Change

reported

Change

Like for like

Fitch Ratings (ratings):

Corporate Finance 321.9 350.6 8.9 % 9.2 %

Structured Finance 160.4 177.5 10.7 % 10.9 %

Public Finance 85.4 87.5 2.5 % 2.7 %

567.6 615.7 8.5% 8.7 %

Fitch Solutions (research, subscriptions)

113.8 129.7 14.0 % 11.6 %

Fitch Learning (specialized training)

32.9 38.4 16.7 % 8.1 %

BMI(Sectorial and country analyses)

0.0 28.9 NC (*) NC (*)

Others (**) 25.8 28.2 9.3 % 4.7 %

SALES

FITCH GROUP740.0 840.9 13.6 % 9.0 %

(*) BMI (Business Monitor International) was acquired mid-March 2014(**) « Non-ratings » activity of Korea Ratings

Page 10

Fitch GroupSales by region

(in € millions) 2013(jan 13 – dec 13)

2014(jan 14 – dec 14)

Change

reported

Change

Like for like

North America 299.9 323.9 8.0 % 8.3 %

EMEA

(Europe, Middle-East, Africa)286.1 341.6 19.4 % 6.3 %

Asia Pacific 94.0 112.3 19.4 % 19.3 %

Latin America 60.1 63.1 5.1 % 9.1 %

SALES

FITCH GROUP740.0 840.9 13.6 % 9.0 %

Page 11

Fitch Group - EBITDA (*)

(*) EBITDA : recurring operating income + depreciation / amortization and provisions

(in € millions) 2013(jan 13 – dec 13)

2014(jan 14 – dec 14)

Change

EBITDA reported 302.5 357.7 18.2 %

Currency translation and change in

perimeter- 5.0

EBITDA like for like 302.5 352.7 16.6 %

EBITDA / SALES margin reported 40.9 % 42.5 %

EBITDA / SALES margin like for like 40.8 % 43.6 %

Page 12

GROUPE LUCIEN BARRIERE

39 casinos (*)

Including 35 in France, 3 in

Switzerland and 1 in Egypt

15 luxury hotels

Including 14 in France and

1 in Morocco

Almost 130 restaurants and bars

(*) The casinos located in Cap d’Agde and Megève have joined the group during the first half of FY14

(in € millions) 2013(Nov 12 – Oct 13)

2014(Nov 13 – Oct 14)

Change

Summary income statement

Revenue (before gambling taxes) 1 055.7 1 037.5 - 1.7%

Casino (before gambling taxes) 895.6 876.7 - 2.1 %

Casino (after gambling taxes) 446.8 442.0 -1.1 %

Hotels and Others 160.1 160.9 + 0.4 %

EBITDA 140.2 131.4 - 6.3 %

Page 15

ENTERTAINMENT

Fimalac

Fimalac Développement

100 %

Vega

Ellipse/Carilis

Gilbert CoullierProductions

AuguriProductions

100 %

40 %

40 %

K-WetProductions

40 %

Simplified Group structure – Entertainment

Venue and aquatic facility managementShow Productions

Trois S

100%

Services and ticketing

100 %

AP2S

Kyro

100 %

50 %

Encore Productions

40 %

Debjam / Comedy Club

50 %

Page 17

Pôle Nord100 %

(in € millions) 2013(jan 13 – dec 13)

2014(jan 14 – dec 14)

Show Production 129.0 127.4

Ticketing 0.0 2.4

Services 2.3 1.8

Venue management 26.1 26.5

Aquatic facility 8.2 8.0

SALES 165.6 166.1

Page 18

(in € millions) 2013(jan 13 – dec 13)

2014(jan 14 – dec 14)

Show Production 7.9 9.2

Ticketing 0.0 0.8

Services 0.6 0.4

Venue management 2.0 3.1

Aquatic facility 0.3 0.4

TOTAL EBITDA 10.8 13.9

Page 19

DIGITAL

(in € millions)2013 (*)

(jan 13 – dec 13)

Actual

2014(jan 14 – dec 14)

Actual

2014

(jan 14 – dec 14)

Pro-forma **

SALES 21.4 62.3 66.0

EBITDA -0.7 11.5 13.5

(*) Acquisition in July 2013(**) Management pro-forma including acquisitions done in 2014