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 23 Nov 2020.

Estimated NAV

	Euro Shares	Sterling Shares
Estimated NAV	€    25.1402	£    22.1534
Estimated MTD return	4.18 %	3.82 %
Estimated YTD return	9.79 %	7.35 %
Estimated ITD return	151.40 %	121.53 %

NAV and returns are calculated net of management and performance fees

Market information

Euro Shares	Amsterdam (AEX)	London (LSE)
Market Close	€    19.00	N/A
Premium/discount to estimated NAV	-24.42 %	N/A
Sterling Shares	Amsterdam (AEX)	London (LSE)
Market Close	N/A	GBX 1,650.00
Premium/discount to estimated NAV	N/A	-25.52 %

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