1. Introduction to Wendel

2. “A strong tradition of entrepreneurship supporting long-term investing” 2 A 310 -year-old history 272 years in the steel industry Nearly 40 years of investment experience 1. View of steelworks in 1866. Watercolor by Bertier 2. François de Wendel (1778-1829) 12

3. €11bn Gross asset value 13 Portfolio companies Wendel at a glance As of March 16, 2015 3 €5.5bn Market capitalization €1.7bn Cash on balance sheet €1.5bn Undrawn available facilities >15.0% Total shareholder return (annualized) for the last 40 years

4. 310 years of history and industrial roots Family business with reference family shareholder Permanent capital from own balance sheet Publicly listed investment company Who we are 4

5. How we operate 5 Long- (no-) term investor Moderate/cautious use of debt  At Wendel level  At portfolio company level Professional shareholder (non-executive)

6. FamilyLong-term ExcellenceOpenness Our values 6

7. Profitable growth  Organic (best practices)  External (screening, priorities, funding) Value for all stakeholders Build highly valued assets  Over the long-term through industrial strategies and operational excellence Sustainability  Safety / Health / Social Responsibility  Environment Our priorities 7 Compliance

8. A global footprint of offices to support our portfolio 8 85 employees at holding level c. 275k employees across portfolio New York Casablanca Paris Luxembourg Frankfurt Amsterdam Tokyo Singapore

9. www.cflex.com 9