Lagardre seeks damages of 84 million from activist fund Amber Capital

Lagard re seeks damages of 84 million from activist fund Amber Capital Lagard re SCA and Lagard re Capital & Management are seeking nearly 84 million in damages from the activist fund Amber Capital as compensation for the harm caused by a destabilisation campaign involving numerous cases of abuse of minority shareholder powers, smears and acts of harassment.

Since the activist fund Amber Capital became one of its shareholders in 2016, Lagard re SCA has been the subject of violent attacks by the fund, which has systematically misused its rights to the detriment of shareholder democracy, underhandedly initiated several legal proceedings and orchestrated an ongoing smear campaign, particularly through the press, against the Group, its General Partners and its Supervisory Board.

The persistence of this aggressive conduct and the methods used by Amber Capital have impacted Lagard re SCA's ability to convince the market and shareholders of its attractiveness, causing the share price to fall significantly. Lagard re SCA and Lagard re Capital & Management's losses are currently estimated at nearly 84 million based on the report issued by a firm of experts registered with the Paris Court of Appeal.

Lagard re SCA and Lagard re Capital & Management have therefore decided to file legal action against Amber Capital before the Paris Court of Appeal seeking compensation and justice for the losses and harm caused.

Press Contacts

Thierry Funck-Brentano - Tel: +33 1 40 69 16 34 - tfb@lagardere.fr

Ramzi Khiroun - Tel: +33 1 40 69 16 33 - rk@lagardere.fr

Investor Relations Contact

Florence Lonis - Tel. +33 1 40 69 18 02 - flonis@lagardere.fr

Until recently, the Lagard re group was structured into four business divisions: Lagard re Publishing, Lagard re Travel Retail, Lagard re Sports and Entertainment and Lagard re Active.

In 2018, the Group launched its strategic refocusing around two priority divisions: Lagard re Publishing and Lagard re Travel Retail.

Lagard re shares are listed on Euronext Paris.

www.lagardere.com

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