< PreviousESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS ASSETS UNDER MANAGEMENT Sophie FLAK Member of the Executive Board, Managing Partner ESG & Digital ESG TEAM esg@eurazeo.com +33 (0)1 44 15 01 11 1 RUE GEORGES BERGER 75017 PARIS www.eurazeo.com AREAS OF EXPERTISE LBO Capital-développement Growth Private Debt Funds of funds Impact Venture Real assets PRIORITY VERTICAL SECTORS Tech Business Services Specialty Financial Services Healthcare Environmental transition New consumer trends QUALITATIVE DESCRIPTION EURAZEO Managing ESG issues and integrating them at the core of the business model, at every stage of the investment process, is central to ensuring the resilience and performance of the group and financed companies. This has been Eurazeo’s strongly held belief for 15 years, setting the Group apart as a pioneer with a solid reputation for its ESG performance. In 2020, Eurazeo launched a new ESG strategy named O + , in order to contribute to the emergence of a fairer and more sustainable society. Structured around two flagship commitments, O+ projects the Group and its 600 financed companies in a sustainable direction, making it is a significant driver of transformation. CLIMATE: ACHIEVING CARBON NET NEUTRALITY (O) Financing companies that contribute to climate change mitigation and adaptation. Promoting decarbonization at Group and portfolio level to meet the goals of the Paris Agreement (targets validated by SBTi). Championing the safeguarding of planetary boundaries beyond the challenges related to global warming INCLUSION: FOSTERING A MORE INCLUSIVE SOCIETY (+) Financing companies that contribute to social inclusion with a particular emphasis on the healthcare sector. Promoting diversity, equity and inclusion at Group and portfolio level. Championing equal opportunity through philanthropic projects that foster youth protection and education. The implementation of O + is detailed in Eurazeo’s ESG Policies, available at eurazeo.com. Together, they contribute to the selection, transformation and growth of financed companies, and influence Eurazeo’s decision to invest, reinvest or divest. O + results are presented in the O + progress report. INITIATIVES PRI (2009) SBTi (2020) ICI (2015) - co-founder UN Global Compact (2014) French Business Climate Pledge (2019) One Planet Sovereign Wealth Funds (OPSWF) (2021) Finance for Biodiversity Pledge (2024) … Non exhaustive list. Please refer to Eurazeo’s URD for further detail. SEE THE ENTIRE TEAM € 35Bn * *as of 31/12/2023 READ THE 2023/2024 VERSION DOWNLOAD THE FILEESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS SYSTEMATIC MAJORITYOCCASIONAL NEVER ARTICLE 9 FUNDS 1 Woman *as of Dec 31, 2023 Integrating ESG objectives into the remuneration of portfolio managers? ESG GOVERNANCE CLIMATE 425 Employees 8 Members 2 % 25 % Integrating ESG objectives into the variable remuneration of investment teams? EURAZEO ESG BOOK 2024/2025 Is the ESG manager a member of the Investment Committee? SOCIAL Is the percentage of sustainable assets held in the portfolio measured? Are you committed to a Net Zero trajectory for yourself and your portfolio holdings? Do you assess the carbon footprint of your holdings, including scope 3 ? ARTICLE 8 FUNDS Eurazeo is committed to achieving carbon net neutrality by 2040 latest € 5.3 Bn (as of 31/12/2023) 15 % Référentiel interne How often are Sustainability Linked Loans implemented on operations? SYSTEMATIC Integrate yourself questions social (diversity, diversity of teams, etc.) in your due diligence questionnaires selection managers? 96% of Eurazeo funds being raised or in the investment phase are classified Article 8 or 9 as per SFDR (as of 31/12/2023, excluding Private Funds Group) Bn 35 *€ ESG TEAMEXECUTIVE BOARD MEMBERS EMPLOYEES ASSETS UNDER MANAGEMENT 96 % ESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS ESG TEAM 59, RUE LA BOÉTIE CS 10017 75008 PARIS www.fonds-fcde.fr AREAS OF EXPERTISE Development and transformation of SMEs with a strong growth potential PRIORITY VERTICAL SECTORS All sectors INITIATIVES Label Relance ESG Data Convergence Initiative (EDCI) Charter promoting gender equality in PE QUALITATIVE DESCRIPTION FCDE Sustainability is at the heart of FCDE’s concerns and has been an important part of its strategy as an investor since 2015. FCDE has implemented an ambitious and structured ESG framework based on a comprehensive approach at each stage of the investment process: Investment resctrictions based on sustainability criteria; Pre-investment ESG due diligence, discussions during Investment Committees and set up of dedicated post-investment ESG action plans; Annual ESG Committee to analyse the sustainability performances of the portfolio companies; Annual ESG seminar with the participation of the full FCDE team. Both FCDE and the portfolio companies show a common commitment to ESG and apply a process of continuous improvement with the aim of creating sustainable value. FCDE’s sustainability strategy is based on the priority given to targeted ESG improvements, adapted to the profitability analysis of each portfolio company. In order to encourage portfolio companies to make progress in the area of sustainability and to take into account sustainability risks and PAIs: Annual Sustainability reporting campaign for all portfolio companies which displays areas for improvement; Full carbon footprint (Scope 1, 2 and 3) for all portfolio companies; Calculation of EU Taxonomy eligibility and alignment (SFDR article 8 Fund). RAISED CAPITAL € 675M * SEE THE ENTIRE TEAM *as of June 30, 2024 Charlotte LEPETIT Partner & Corporate Secretary Réjean GUERN Partner and member of the Executive Board charlotte.lepetit@fonds-fcde.fr +33 (0)1 80 40 04 65 rejean.guern@fonds-fcde.fr +33 (0)1 80 40 04 65 READ THE 2023/2024 VERSION DOWNLOAD THE FILEESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS ESG GOVERNANCE 14 People EXECUTIVE BOARDEMPLOYEES 3 Members 1 Woman in the Executive Board 1 Woman in the Investment Committee 2 Women are Partners % of women in the team FCDE has put in place an annual ESG Committee comprised of two FCDE Partners with the participation of an appointed advisor specialized in ESG FCDE ESG BOOK 2024/2025 The ESG approach at FCDE is delivered by all investment team members at the portfolio company level and is managed by a three-person team at the corporate level. ESG TEAM 21 % 20 % 20 % 33 % 36 % CLIMATE ARTICLE 6 1 FUND ARTICLE 8 1 FUND Not applicable SOCIAL in progress *as of June 30, 2024 M€ 675 * RAISED CAPITAL Is the percentage of sustainable assets held in the portfolio measured? Are you committed to a Net Zero trajectory for yourself and your portfolio holdings? Do you assess the carbon footprint of your holdings, including scope 3 ? Are you implementing the France Invest value-sharing scheme within your holdings? SYSTEMATICMAJORITYOCCASIONAL NEVER Integrating ESG objectives into the remuneration of portfolio managers? Integrating ESG objectives into the variable remuneration of investment teams?ESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS Annabel VÄÄNÄNEN ESG Analyst Samira BOUSSEM CFA, Head of Sustainability ESG TEAM annabel.vaananen@flexstonepartners.com + 33 (0)6 65 82 13 20 samira.boussem@flexstonepartners.com +33 (0) 86 17 01 53 Paris Office 5-7 rue de Monttessuy 75007 Paris - France www.flexstonepartners.com QUALITATIVE DESCRIPTION FLEXSTONE PARTNERS Principle 1 - Aligning with industry best practices and continuously improving our ESG approach: In the beginning of 2024, we reviewed our proprietary ESG assessment framework (in alignment with the ILPA ESG assessment), responsible investment process, and exclusion policy, and formalized our internal controversy management framework. Principle 2 - Having a holistic, global approach to sustainability: Flexstone’s responsible investment process is applied systematically to all prospective investments to manage material ESG risks and opportunities. This includes negative screening of high-risk activities, ESG scoring and due diligence completed by the ESG team , negotiation of side letters with ESG provisions, annual monitoring of 50+ ESG KPIs at GP and portfolio company level, and monitoring of material ESG controversies. Principle 3 – Transparency: To date, we have completed two annual ESG data collection campaigns on Reporting 21 to monitor the ESG performance of our portfolios. In 2023, we also partnered with Weefin and Sweep to improve our ESG data management and reporting capabilities. Our first annual ESG report was published in 2023, and we will continue to report on our progress. Principle 4 - Promotion of DEI: As a signatory of the France Invest Gender Parity Charter, we are committed to achieving time-bound, quantitative objectives, including having women represent 40% of the investment team by 2030. In addition, we joined the ILPA Diversity in Action initiative in 2022 and implemented annual DEI training through the Paradigm Reach platform. Principle 5 – Strong governance around sustainability: Over the last two years, we have continued to build our ESG expertise and resources, notably with the recruitment of our Head of Sustainability, Samira Boussem, in January 2024, and the formalization of our internal Sustainability Committee in 2022 which meets on a quarterly basis to evaluate our ESG priorities, objectives, and progress. Principle 6 - Contribution to international sustainability initiatives: Flexstone seeks to be an active participant in the responsible investing ecosystem by contributing to working groups and consultations. We currently contribute to two iCI working groups, and participated in the PRI in a Changing World workshop in Paris. * side letters negotiated at closing on a best effort basis. AREAS OF EXPERTISE Fund of funds Secondary transactions Co-investments PRIORITY VERTICAL SECTORS Generalist strategy INITIATIVES PRI (2015) ICI (2022) France Invest Charte Parité (2020) ILPA Diversity in Action (2022) France Invest Sustainability Commission (2022) € 10.3Bn * *as of March 31 st , 2024 ASSETS UNDER MANAGEMENT READ THE 2023/2024 VERSION DOWNLOAD THE FILE As a responsible investor and a corporate citizen, we believe that it is our responsibility to integrate ESG considerations throughout our investment and corporate activities. Our ESG approach is defined by our six core responsible investing principles:ESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS SYSTEMATIC ESG GOVERNANCE 58 FTEs ESG AND CLIMATE COMMITTEE COMEX MEMBERS EMPLOYEES 2 FTE 0 women Integrating ESG objectives into the variable remuneration of investment teams? Is the ESG manager a member of the Investment Committee? FLEXSTONE PARTNERS ESG BOOK 2024/2025 Integrating ESG objectives into the remuneration of portfolio managers? 10 people, lead by Flexstone’s Head of Sustainability, Samira Boussem. The Committee has a representative from each operational team and office, including Flexstone’s CEO and global COO & CFO. ESG Committee Is the percentage of sustainable assets held in the portfolio measured? CLIMATE Are you committed to a Net Zero trajectory ? Do you assess the carbon footprint of your holdings, including scope 3? To date, Flexstone does not have a formal Net Zero trajectory; In 2023, we partnered with Sweep, a GHG accounting and monitoring tool, to automate the estimation, reporting, and tracking of our corporate and financed GHG emissions as a first step to setting our baseline. We believe that implementing systems to accurately. We will continue to report on our progress on an annual basis. Flexstone does not currently have any financial products that have sustainable investment as their core objective, and therefore does not assess the % of sustainable investments as defined by the EU SFDR. SOCIAL Do you include social issues (diversity, team mix, etc.) in your manager selection due diligence questionnaires *as of March 31st, 2024 ARTICLE 8 4 FUNDS ASSETS UNDER MANAGEMENT Bn 10.3 *€ MAJORITYOCCASIONAL NEVER 3 % .5ESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS Gabin PRIMAULT ESG Manager ESG TEAM gabin.primault@idico.fr 06 30 08 21 69 QUALITATIVE DESCRIPTION idiCO At idiCo, we integrate ESG into our decision-making. We firmly believe that good ESG management allows our portfolio companies to create sustainable value. We invest in SMEs and mid-sized companies across all sectors. Our ESG strategy, adaptable to each company, aims to support them towards more sustainable models. We have defined four key objectives that guide our ap- proach: Structure and develop businesses Contribute to the attractiveness and retention of talent Encourage directors and their teams to address environmental, social, and governance (ESG) issues Contribute to the ecological transition and compliance with the Paris Agreement. Since the creation of idiCo, we have established a robust ESG governance with an ESG Supervisory Board composed notably of external members (Corinne Lepage and Stéphane Voisin) and an internal Operational ESG Committee. Our ESG strategy is at the core of our investment process, structured in several phases: Pre-investment: application of our exclusion policy (aligned with the Paris-Aligned Benchmark) and vigilance, systematic analysis of climate and biodiversity risks, conduct of ESG due diligence Investment: integration of ESG clauses in legal documentation, implementation of an ESG action plan Monitoring: funding of the first carbon assessment, annual collection of ESG data, tracking of idiCo's ESG Score, access to the CSR toolkit provided by idiCo Exit: assessment of ESG achievements This group-level strategy constitutes the ESG foundation of our company, with each investment strategy adding its own specificities. DOWNLOAD THE FILE 23-25 AVE. FRANKLIN D. ROOSEVELT 75008 PARIS, FRANCE www.idico.fr AREAS OF EXPERTISE LBO Capital-développement Growth Private Debt PRIORITY VERTICAL SECTORS Education Healthcare Industry All sector Technology B2B services € 1Bn ASSETS UNDER MANAGEMENT INITIATIVES PRI iCI ESG Data Convergence Initiative (EDCI) (2024) Benjamin ARM CEO benjamin.arm@idico.fr 06 88 05 46 49 SEE THE ENTIRE TEAMESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS Is the percentage of sustainable assets held in the portfolio measured? ESG GOVERNANCE CLIMATE 29 People ESG AND CLIMATE COMMITTEE COMEX MEMBERS EMPLOYEES 3 Members Are you committed to a Net Zero trajectory for yourself and your portfolio holdings? Do you assess the carbon footprint of your holdings, including scope 3? Integrating ESG objectives into the variable remuneration of investment teams? Is the ESG manager a member of the Investment Committee? idiCO ESG BOOK 2024/2025 Integrating ESG objectives into the remuneration of portfolio managers? For Article 9 funds For Article 9 funds 2 Women 25 % * Internal framework developed with a specialized third-party provider 34 % * How often are Sustainability Linked Loans implemented on operations? MAJORITY ARTICLE 6 9 FUNDS ARTICLE 8 10 FUNDS ARTICLE 8 1 FUNDS with sustainable asset share commitment € 497M € 55M € 305M ARTICLE 9 3 FUNDS € 179M Bn 1 € ASSETS UNDER MANAGEMENT SOCIAL Are you implementing the France Invest value-sharing scheme within your holdings? SYSTEMATICMAJORITYOCCASIONAL NEVER 10 % ,3ESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS François-Xavier OLIVEAU Partner Transformation Solenne CHEURET Investment Director ESG TEAM fxo@initiative-finance.com +33 (0)1 56 89 97 00 sch@initiative-finance.com +33 (0)1 56 89 97 00 20, RUE QUENTIN-BAUCHART 75008 PARIS www.initiative-finance.com *as of Dec 31, 2023 QUALITATIVE DESCRIPTION INITIATIVE & FINANCE For Initiative & Finance, including ESG criteria in the investment policy helps to sustain and enhance the value of the companies in its portfolio: improving their risk profile, seizing additional growth opportunities and, ultimately, crea- ting more value. In 2020, Initiative & Finance launched a new fund, «Tomorrow Private Equity Fund 1», with the aim of supporting the environmental transition of French and European SMEs, in terms of both climate change (mitigation and adap- tation) and the preservation of ecosystems (biodiversity, resources, water and pollution). In practical terms, this transition becomes a strategic pillar of the company and is concretely deployed in operations: business model change, develop- ment of sustainable offerings, eco-design, redesign of production and logis- tics chains, circular model, etc. Tomorrow positions as an active partner in all aspects of this transition: strategy, operational priorities, action plans, perfor- mance measurement. This support is provided with dedicated resources, in particular Tomorrow’s Transformation partner and the support of managers who have themselves carried out an environmental transformation. A set of indicators building on the UN SDGs is put in place, monitored and shared with investors. In addition, for all its funds, Initiative & Finance systematically carries out an ESG assessment of companies during the investment phase. In the case of Tomorrow, this assessment deepens all environmental aspects. Once invested, Initiative & Finance supports its holdings in their continuous improvement process and systematically monitors ESG indicators. Particular attention is paid to four specific themes: climate change, training, integration of young people and gender equality. SEE THE ENTIRE TEAM ASSETS UNDER MANAGEMENT € 600M * AREAS OF EXPERTISE Buyout Growth capital Small and Mid Caps (from €2m to €80m tickets, including co-investment) PRIORITY VERTICAL SECTORS All sectors INITIATIVES PRI (2020) France Invest charters (including the Mixité charter) and BPI France READ THE 2023/2024 VERSION DOWNLOAD THE FILEESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS Integrating ESG objectives into the remuneration of portfolio managers? Integrating ESG objectives into the variable remuneration of investment teams? Is the ESG manager a member of the Investment Committee? Is the percentage of sustainable assets held in the portfolio measured? ESG GOVERNANCE CLIMATE SOCIAL 28 People ESG AND CLIMATE COMMITTEE COMEX MEMBERS EMPLOYEES 4 Members 1 Woman 14 % 12 Are you committed to a Net Zero trajectory for yourself and your portfolio holdings? Do you assess the carbon footprint of your holdings, including scope 3? *For Tomorrow, 100% sustainable investments as defined SFDR regulations, including 49% aligned with European Taxonomy Are you implementing the France Invest value-sharing scheme within your holdings? SYSTEMATICMAJORITYOCCASIONAL NEVER INITIATIVE & FINANCE ESG BOOK 2024/2025 ASSETS UNDER MANAGEMENT 100 % ARTICLE 6 3 FUNDS ARTICLE 9 1 FUND *as of Dec 31, 2023 M 600 * * % ,5 Yes (for the Tomorrow Fund Investment Committee) No (for the SME strategy) For Tomorrow, strategy, subject to approval by the management team for the SME strategy Yes for Tomorrow Yes (objectives not quantified but integrated into variable remuneration ; for Tomorrow strategy, part of the carried is also linked to the achievement of ESG objectives) Yes for Tomorrow Yes for Tomorrow Initiative & Finance FCPR I Initiative & Finance FPCI II Initiative & Finance FPCI III Tomorrow Private Equity Fund I €Next >