BGHL (GBP)

NAV(s)

                                      BOUSSARD & GAVAUDAN HOLDING LIMITED

Ordinary Shares

The Directors of Boussard & Gavaudan Holding Limited would like to announce the following information for the Company.

Close of business 18 Sep 2020.

Estimated NAV

	Euro Shares	Sterling Shares
Estimated NAV	€    23.4510	£    20.7730
Estimated MTD return	0.49 %	0.46 %
Estimated YTD return	2.41 %	0.66 %
Estimated ITD return	134.51 %	107.73 %

NAV and returns are calculated net of management and performance fees

Market information

Euro Shares	Amsterdam (AEX)	London (LSE)
Market Close	€    16.90	N/A
Premium/discount to estimated NAV	-27.93 %	N/A
Sterling Shares	Amsterdam (AEX)	London (LSE)
Market Close	N/A	GBX 1,500.00
Premium/discount to estimated NAV	N/A	-27.79 %

Transactions in own securities purchased into treasury

Ordinary Shares	Euro Shares	Sterling Shares
Number of shares	N/A	N/A
Average Price	N/A	N/A
Range of Price	N/A	N/A