BGHL GBP NAV & Share buy back

                                      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 23 Sep 2020.

Estimated NAV

	Euro Shares	Sterling Shares
Estimated NAV	€    23.6555	£    20.9593
Estimated MTD return	1.37 %	1.36 %
Estimated YTD return	3.30 %	1.57 %
Estimated ITD return	136.55 %	109.59 %

NAV and returns are calculated net of management and performance fees

Market information

Euro Shares	Amsterdam (AEX)	London (LSE)
Market Close	€    17.00	N/A
Premium/discount to estimated NAV	-28.14 %	N/A
Sterling Shares	Amsterdam (AEX)	London (LSE)
Market Close	N/A	GBX 1,500.00
Premium/discount to estimated NAV	N/A	-28.43 %

Transactions in own securities purchased into treasury

Ordinary Shares	Euro Shares	Sterling Shares
Number of shares	720	N/A
Average Price	€    17.00	N/A
Range of Price	N/A	N/A