Banque Richelieu entities The asset management expertise of the Banque Richelieu Group Richelieu Gestion offers a range of open and dedicated UCITS products and services through discretionary portfolio management for private clients. It is aimed at both external professional clients (financial advisors, Family Offices, third-party management compa- nies, corporate investors, etc.), who constitute the bulk of its business, and private clients of the Banque Richelieu Group, for whom this competitive positioning is the assurance of the quality of its management solution. 2019 Overhaul of Richelieu Gestion’s organisation The asset allocation and development management team has been strengthened. Governance is provided by a management team composed of Christophe Boulanger, Chief Executive Officer, Laurence Adam, Deputy Chief Executive Officer, Alexandre Hezez, Chief Investment Officer, Head of asset management, and Michel Dinet, Chief Development Officer. Repositioning of our selection of funds. Historically focused on European equities, it now has a very complementary dual polarity: A thematic and sustainable offer, via a prism for analysis based on Environment, Social, and Governance (Richelieu CityZen, Richelieu Family Small Cap). This expertise now goes beyond the Franco-European framework with the launch of the Richelieu America fund, focused on American companies with regular dividend generation over a long period; A range of conservative funds largely redeployed with the Richelieu Obligations Court Terme (short-term bond), fund with a high-quality long-term performance history which showed strong growth in 2019 and the Richelieu Harmonies asset allocation fund. 16 BANQUE RICHELIEU