THE ROTHSCHILD FAMILY

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5 THE ROTHSCHILD FAMILY THE ROTHSCHILD FAMILY EDMOND DE ROTHSCHILD, IN TUNE WITH TODAY S WORLD Like his ancestors, Baron Edmond de Rothschild was both a visionary and a pioneer in finance. He was able to foresee the changes in the industry that little by little were transforming Private Banking and Asset Management. The Group he founded in 1953 is now a key player in these business lines. A keen humanist, Edmond de Rothschild continued and expanded his forebears tradition of philanthropy and support for large-scale projects that make the world a better place. His entire professional life was a reflection of the qualities so characteristic of the Rothschild family: courage and openness to modernity in all areas, ranging from industry and leisure to agriculture and new technologies. These qualities shone through in his direct involvement in the Group s businesses as well as in his commitments to personal and family endeavours. A keen humanist, Edmond de Rothschild continued and expanded his forebears tradition of philanthropy and support for large-scale projects that make the world a better place. By passing the Group on to his son Benjamin, who now runs it with his wife Ariane, Edmond de Rothschild is preserving these values and this vision of the world. Pediment of the Château de Pregny, Geneva

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7 THE ROTHSCHILD FAMILY VALUES AND COMMITMENT Independence, creativity, discipline and the pursuit of excellence have fuelled our family s success for more than 250 years. In our Private Banking and Asset Management businesses, these values are reflected in our unique ability to blend innovation with prudence. We are prudent because we know that it takes time to create wealth. Thus we are not lured by the temptations of short-term gains or the excesses of the financial system. And we are innovative because every era brings new challenges that demand fresh solutions. My wife Ariane and I share with the Group s employees a broad vision of the global economic and financial landscape and a compelling awareness of its constraints and challenges. Together we are developing the ability to find new solutions and to control their impacts, with a view to understanding and responding to each client s expectations. The demands of today s financial industry were already written into the values that the Rothschild dynasty s founder instilled in his five sons and which appear on our coat of arms: Concordia, Integritas, Industria. Concordia means working together on a common project; Integritas means being loyal to both client and company; Industria means working with enthusiasm and striving for a better solution. It was by remaining true to these values that the Edmond de Rothschild Group, comprising the most talented professionals in the industry, has attracted and earned the loyalty of a prestigious clientele and expanded worldwide. We now operate in many countries and in the past 60 years have become a front-runner in Private Banking and Asset Management, as well as in Corporate Finance, Private Equity and Institutional & Fund Services. The Group is growing and will continue to grow while preserving the values of my family, which has always staked its name on the service we provide to each of our clients. Benjamin de Rothschild CHAIRMAN OF THE EDMOND DE ROTHSCHILD GROUP Circular diadem by Karaja Indians (Brazil) at the Group office in Paris, Benjamin and Ariane de Rothschild collection

8 8 Mayer Amschel Rothschild Nathan London Amschel Frankfurt Salomon Vienna Carl Naples James Paris Lionel Nathaniel Alphonse Gustave Edmond Nathaniel Leopold Nathan Edouard Robert Maurice Nathaniel Anthony Henry Guy Alain Elie Edmond Victor Evelyn 1931 Philippe David 1942 Edouard 1957 Eric 1940 Robert 1947 Nathaniel 1946 Benjamin 1963 Jacob 1936 Philippine 1933 French branch English branch English branch, established in France Extinct branches

9 THE ROTHSCHILD FAMILY A DYNASTY OF EUROPEAN ENTREPRENEURS AND BANKERS The Rothschild name is synonymous with continuity. The dynasty began with Mayer Amschel, born in Frankfurt am Main in 1744, and has since included merchants, bankers to royal families and governments, financiers, manufacturers, patrons and collectors. It was Mayer Amschel who adopted the patronymic Rothschild to stand for the red sign (rotes Schild in German) adorning the front of the house that served as both family residence and premises of the bank founded by his father Moses. In addition to exchanging money and trading in coins and medals, Mayer Amschel extended the bank s offering to include stock and bond dealing and investment advisory services. A trail-blazer with an international vision, he set up his five sons in Frankfurt, Vienna, London, Naples and Paris (the major European capitals of the day), thus establishing the Continent s first banking network. Like their father, the five brothers (including James de Rothschild in Paris) were driven by a spirit of entrepreneurship and innovation, and their descendants played an active role in the industrial, financial and cultural revolution of the 19th century. Their vitality and eminent role led Emperor Francis I of Austria to grant them the hereditary title of baron in Two centuries on, these values are still upheld. They continue to inspire the family s various branches and, in particular, the Group founded in 1953 by Baron Edmond de Rothschild, a descendant of Baron James. Originally an export agent, he established a firm in Paris that went on to become an investment company, a financial institution and finally a full-fledged bank in During this expansion the Group bought out a Geneva-based private bank, in 1965, and in 1969 set up a subsidiary in Luxembourg, laying the foundation for an international banking group that has since continued to specialise in its core businesses of Private Banking and Asset Management. Taken one by one, the five arrows can easily be snapped; together, they are unbreakable. This is the path that Benjamin de Rothschild, who succeeded his father in 1997, and his wife Ariane have taken in order to grow the Group by extending its international reach and equipping it to meet the challenges of the 21st century. It was then that they adopted the coat of arms with the five bound arrows representing the parable told by Mayer Amschel: Taken one by one, the five arrows can easily be snapped; together they are unbreakable. The coat of arms also symbolises the mantra inspired by Mayer Amschel s instructions to his sons to work together loyally, harmoniously and diligently.

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11 EDMOND DE ROTHSCHILD GROUP THE EDMOND DE ROTHSCHILD GROUP 1953 The now eponymous Group is founded by Baron Edmond de Rothschild in Paris Banque Privée, a Geneva-based wealth management firm, is taken over. The Group s Geneva hub opens the first subsidiary of a Swiss bank in Luxembourg 1969 and launches the world s first fund of hedge funds An Asset Management segment is set up in France Group advisory services play a pivotal role in privatisations in France and abroad An Institutional & Fund Services segment is established in Luxembourg La Compagnie de Trésorerie Benjamin de Rothschild is founded in Geneva. Benjamin de Rothschild succeeds his father as head of the Group 1997 CHF 33BN IN ASSETS 840 EMPLOYEES 10 OFFICES Asset Management sees stepped-up growth on the international level The first Executive Committee of the Edmond Rothschild group is appointed. The pace of regional and international office openings increases and the Private Equity segment is developed. LCF Rothschild Group changes its name to Edmond de Rothschild Group in honour of its founder Appointment of Ariane de Rothschild as Chairwoman of the Group Executive Committee. A new strategy unites the Group around its two core businesses, Private Banking and Asset Management CHF 163 BN IN ASSETS 2,700 EMPLOYEES 31 OFFICES. Work by contemporary artist Philippe Druillet. Benjamin and Ariane de Rothschild collection

12 12 A UNIQUE GROUP IN THE BANKING INDUSTRY The Edmond de Rothschild Group occupies a unique position in the realm of finance. First of all we have a unique vision that is firmly rooted in the new global paradigm. Our old business model had worked successfully for decades, but in 2012 Benjamin and Ariane de Rothschild had the foresight and courage to work profound changes aimed at adapting it to our changing world. We reassessed our organisational structure, redefined our strategy and rallied our teams around new long-term objectives. The result is that while other financial institutions are wondering about their future, the Edmond de Rothschild Group is ready to meet today s challenges. Our growth is propelled by two powerful engines: Private Banking and Asset Management. The Group is also unique in its values. We continue to uphold values that many other financial players have neglected. The Edmond de Rothschild Group s deep family roots give us an unusually long-term perspective, and this is reflected in the way we manage clients assets. Creativity does not rule out prudence. Entrepreneurial daring goes hand and hand with risk control. We are relying on these same attributes to grow our Private Equity, Corporate Finance and Institutional & Fund Services lines. The strength that comes with such determination and loyalty to our convictions holds out very favourable prospects. The world continues to change economically, culturally, politically and from a regulatory standpoint. We will face these changes with a carefully planned and proven approach. More to the point, we want to be able to protect our clients assets in a shifting environment and achieve long-term returns. To do so, we will constantly reassess our working methods and seek new ways to innovate. This will also mean continuing to expand internationally. With offices on all the continents, the Group already has a global network. We will further bolster our positions both inside and outside Europe to provide additional gateways for our clients, no matter where they are located. As we move forward, we are counting on the ability of our Group s teams in particular. Forming long-lasting bonds of trust and performing their work creatively and efficiently are part of their everyday work. One seldom finds all these qualities combined in space and time, but our Group has made them its priority. Maybe that, especially, is what makes us so unique. We moreover have a unique approach. Our growth is propelled by two powerful engines: Private Banking and Asset Management. Private Banking has become a must for entrepreneurs and their families who seek personalised financial assistance throughout their lives. We offer not only broad-based expertise in this area but also bespoke solutions and attentiveness to clients needs. Our Asset Management model is driven by teamwork. Our convictions are not forged on the basis of benchmarks but on the research and innovations of savvy specialists. This enables us to provide active management delivering long-term performance.

13 EDMOND DE ROTHSCHILD GROUP THE EDMOND DE ROTHSCHILD GROUP TODAY OUR GROUP OFFERS A COMPREHENSIVE RANGE OF SERVICES FOR AN INTERNATIONAL CLIENTELE MADE UP OF WEALTHY FAMILIES, ENTREPRENEURS AND LARGE INSTITUTIONS. The main strengths of the Edmond de Rothschild Group lie in synergies between our business lines and in our finely honed ability to preserve and grow clients assets. Our core businesses, Private Banking and Asset Management, form a balanced service offering and combining customised solutions, stability, performance and innovation. Our other linescorporate Finance, Private Equity and Institutional & Fund Servicesprovide state-of-the-art expertise in financial engineering, unlisted investments and complex investment vehicles. OUR BUSINESS LINES PRIVATE BANKING Corporate Finance ASSET MANAGEMENT Private Equity Institutional & Fund Services 163 bn OF CHF IN ASSETS 49% PRIVATE BANKING 51% ASSET MANAGEMENT 24.8% SOLVENCY RATIO (RATIO FINMA) 2,700 EMPLOYEES REPRESENTING MORE THAN 30 NATIONALITIES OUR STRENGTHS The sturdiness and stability of an independent financial group Uniquely close-knit relationships combined with the expertise of an international group Proactive teams that anticipate economic changes when designing our products and services Access to a full array of financial services and products Figures at 31/12/2014

14 14 INTERNATIONAL REACH 31 OFFICES THROUGHOUT THE WORLD 19 COUNTRIES Bahamas Nassau Brazil Chile Rio de Janeiro Santiago Uruguay Montevideo Offices Partnerships

15 EDMOND DE ROTHSCHILD GROUP Belgium Antwerp, Brussels, Liege Luxembourg Luxembourg France United Kingdom Guernsey, London Bordeaux, Lille, Lyon, Marseille, Nantes, Paris, Strasbourg, Toulouse Germany Frankfurt Switzerland Fribourg, Geneva, Lausanne, Lugano Italy Milan Monaco Monaco Portugal Lisbon Spain Madrid, Barcelona China Shanghai Japan Tokyo Israel Tel Aviv United Arab Emirates Dubai Hong Kong Hong Kong

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17 PRIVATE BANKING PRIVATE BANKING PRIVATE BANKING IS ONE OF OUR GROUP S TWO CORE BUSINESSES, OFFERING CLIENTS A CLOSE-KNIT, LONG-TERM RELATIONSHIP WITH AN ATTENTIVE MANAGER INSPIRED BY SHARED VALUES. THIS IS ABSOLUTELY NECESSARY FOR IMPLEMENTING BESPOKE SOLUTIONS AND MAINTAINING A PROPER BALANCE BETWEEN PRUDENCE AND INNOVATION. 80 bn OF CHF IN ASSETS 22 OFFICES THROUGHOUT THE WORLD OUR EXPERTISE Financial and wealth planning Wealth management Life insurance Family advisory services Philanthropic advisory services Hundred-year-old tree in the park at Pregny, Geneva. Figures as at 31/12/2014

18 18 OUR APPROACH TO PRIVATE BANKING We base Private Banking on a long-term bond of trust between you and your relationship manager. His role is to listen to you and coordinate the assistance of Group specialists so that together you can devise the best possible strategy for preserving your assets, making them grow and handing them down to future generations. The strategy consists not only in structuring your portfolio optimally from a legal and financial standpoint but also in integrating changes to your situation and plans into a long-range view. We study your full financial situation (including professional assets, real estate, works of art, cash, etc.), with a view to proposing the best possible allocations within the limits of your appetite for risk. Our management philosophy emphasises capital preservation, risk control and long-term performance. Finally, we offer families comprehensive management of their assets through bespoke family advisory services. OUR STRENGTHS Autonomous, stable teams ensuring long-lasting, close relationships An entrepreneurial-style corporate culture allowing us to better assist business leaders in managing their personal and professional assets Proximity to clients thanks to our international network and the linguistic and cultural diversity of our teams Complementary areas of expertise guaranteeing a made-tomeasure response covering all your needs Open architecture providing access to the best internal and external specialists

19 PRIVATE BANKING CORPORATE FINANCE TRANSACTIONS SINCE % WITH FAMILY-OWNED COMPANIES CORPORATE FINANCE IS A LEGACY SEGMENT OF OUR GROUP, PROVIDING CONFIDENTIAL, INDEPENDENT ADVICE TO HELP COMPANY SHAREHOLDERS MANAGE THEIR BUSINESS PORTFOLIOS. UNDERPINNED BY A NATURAL AFFINITY WITH ENTREPRENEURS, OUR ROLE CONSISTS IN SUPPORTING FIRMS UNDER FAMILY OWNERSHIP OR CONTROL AT EVERY STAGE OF THEIR DEVELOPMENT. OUR EXPERTISE Mergers and acquisitions Equity capital operations Financial engineering Real estate strategy consulting OUR APPROACH We chiefly advise family shareholders and company founders on the sale or succession of their businesses. By maintaining close, long-term ties with business owners, we can ensure that prior to any transaction we have an in-depth understanding of the strategic and asset-related stakes involved. We take each company s strategic objectives into account, along with its family and asset-related constraints, in order to optimise the legal, fiscal and financial aspects of the proposed deal. For each project, our M&A personnel assemble a multidisciplinary team with complementary expertise wealth engineers, tax and legal specialists, etc. to plan your financial transactions in the best possible conditions. We assist family shareholders throughout the transaction chain, from advisory stage to execution. OUR STRENGTHS Ability to help company managers address the challenges that arise throughout the life cycle of their businesses, including by advising them on financing, company appraisals, growth and succession Independence, meaning we can provide companies and their shareholders with corporate finance solutions free of conflicts of interest

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21 ASSET MANAGEMENT ASSET MANAGEMENT ASSET MANAGEMENT IS THE EDMOND DE ROTHSCHILD GROUP S SECOND CORE BUSINESS. COMBINING PERFORMANCE AND RISK MANAGE- MENT, OUR EXPERTISE SPANS A LARGE SELECTION OF ASSET CLASSES AND GEOGRAPHICAL AREAS. THIS BREADTH ENABLES US TO DESIGN A VARIETY OF INVESTMENT SOLUTIONS THAT CATER TO THE NEEDS OF A WIDE-RANGING INTERNATIONAL CLIENTELE. OUR EXPERTISE Equities Corporate debt Asset allocation and sovereign debt Quantitative asset management Long only multi-management Alternative multi-management Socially responsible investments Overlay management Real estate Infrastructure Debt Edmond de Rothschild trimaran Gitana XV, winner of the 2013 Transat Jacques Vabre race 83 bn OF CHF IN ASSETS (1) 59 bn OF CHF IN ASSETS UNDER MANAGEMENT (2) 6 ASSET MANAGEMENT HUBS (1) Of which CHF 24.5bn administered. (2) Of which CHF 2.6 bn in Private Equity. Figures at 31/12/2014

22 22 OUR APPROACH TO ASSET MANAGEMENT Our offering is available through dedicated management mandates and open-ended funds distributed in 14 countries, providing a tailored response to the specific needs of a variety of institutional and private investors inside and outside Europe. Our fund managers seek long-term performance by carefully building and actively managing their portfolios, basing their selection of investments on strong convictions that disregard benchmarks. Our solid expertise in implementing dedicated risk management solutions provides our clients with additional methods for actively managing risk. OUR STRENGTHS Unique positioning as an independent multi-specialist focusing our know-how on the investment styles, themes and regions in which we are recognised leaders International market coverage, with more than a hundred investment specialists spread across six asset management hubs: Frankfurt, Geneva, Hong Kong, London, Luxembourg and Paris A strategy fuelled by continuous innovation that takes account of the current and future challenges facing our clients An award-winning selection of products that testifies to our expertise in picking underlying funds and securities and to our insistence on long-term performance PRIVATE EQUITY 2.6 bn OF CHF UNDER MANAGEMENT 25 YEARS EXPERIENCE PRIVATE EQUITY COMPLEMENTS OUR ASSET MANAGEMENT BUSINESS, ENABLING PRIVATE CLIENTS AND INSTITUTIONAL INVESTORS TO ALLOCATE A PORTION OF THEIR PORTFOLIO TO UNLISTED ASSETS OFFERING ATTRACTIVE MEDIUM-TERM RETURNS AND A DEGREE OF MARKET DECORRELATION. OUR EXPERTISE Venture capital Development capital Project, infrastructure and environmental funds Emerging and frontier countries OUR APPROACH The Group has independent teams with expertise in unlisted investments and real assets. We propose a partnership emphasising entrepreneurship, acquisitions and international growth rather than returns that rely on leverage. We only work with company managers who share our vision and roadmap. To help them implement their growth plans, we systematically play a role in their firms corporate governance. Our unique expertise in sustainable finance combines returns to investors and a significant impact in terms of development, environmental protection and social benefits. We strive for an optimal alignment of investor interests and impeccable governance.

23 ASSET MANAGEMENT OUR STRENGTHS Stable, experienced teams who have been through numerous investment cycles Highly differentiated cash management, allowing us to return capital to investors much more quickly and regularly than the markets do Ability to generate a top-quality deal flow and offer our clients compelling co-investment opportunities A range of funds attracting a stable of prestigious institutional investors, publicly and privately owned financial institu- tions and private investors A leading position in the life sciences and pharmaceutical sectors, with one of Europe s largest allocations to biotechnologies An innovative private equity funds platform dedicated to sustainable and socially responsible finance, investing in environmental themes, infrastructure and emerging and frontier countries, with a focus on sub-saharan Africa and Latin America INSTITUTIONAL & FUND SERVICES 25 bn OF CHF IN ASSETS ADMINISTERED 120 FUNDS 420 SUBFUNDS IN ADDITION TO MANAGING INVESTMENT FUNDS, WE PROVIDE A WIDE VARIETY OF HIGH VALUE-ADDED FUND ADMINISTRATION SERVICES AND ARE ACTIVE IN ASSET SERVICING. OUR EXPERTISE Fund incorporation and administration Asset servicing OUR APPROACH We provide institutional investors with a comprehensive, transversal range of services as administrative agent, custodian bank and management company (for UCITSs and AIFMs). Our expertise encompasses fund feasibility studies, incorporation, operational monitoring and risk control. In addition to the traditional options, we offer high value-added, leading-edge expertise in the most complex and innovative vehicles (private equity, real estate, hedge funds, etc.). OUR STRENGTHS A comprehensive, integrated array of tailored services for other institutions, including where applicable as management company and risk manager Teams guided by a philosophy combining attentiveness, quick responses and top-quality, personalised solutions Sophisticated, customised reporting Special access to an institutional offering for private clients (UHNWIs) A platform for independent asset managers ISAE 3402 certification since 2003 Figures as at 31/12/2014

24 Legal notice This document is issued for informational purposes only. It does not constitute an agreement and is not intended for persons who are citizens or residents of a country or a jurisdiction in which the distribution, publication, availability or use of this document would infringe existing laws or regulations. In particular, no UCITS or investment fund referred to in this document may be offered to a person if the legislation of his/her/its country of origin or of any other country concerning such a person or product prohibits its offering. Nor do the information and figures in this document constitute an offer of services or a solicitation to buy, sell or subscribe securities or any other financial instrument. References to rankings or awards herein are no indication of future rankings or awards. This document and its contents may be quoted by disclosing the source, but their reproduction or distribution, in whole or in part, is prohibited. All rights reserved. Copyright 2015 Edmond de Rothschild All rights reserved Design and production: Edmond de Rothschild Communication S.A., Geneva (Switzerland) Photo credits: Tobias Regell, Olivier Seignette, Philippe Schaff, DR Published in April 2015

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