We are publishing this company brochure on the occasion of our

General Meeting of Shareholders in March 2020. We are conscious

that the Group figures mentioned in this brochure and the way

they are organised will change very significantly as a result

of the coronavirus epidemic.

I would like to take this opportunity to assure you that our Group

as presented to the shareholders on 27 March is sound, and that

the liquidity and core capital ratios far exceed the regulatory

requirements. We know that the impact of the current crisis is

certain to weigh on the results for 2020. However, we can confirm

that the structure of our Group 90% of employees can work

on a mobile basis has already proved itself resilient.

I firmly believe that the current crisis, which in all likelihood will

persist only for a limited period, also provides an opportunity

to make our Group even stronger in the coming years thanks

to the high-quality performance of all our teams.

I hope you enjoy reading our company brochure.

Dear clients, employees and partners,

PHILIPPE ODDO General Partner and CEO, ODDO BHF

Sincerely,

24 March 2020