BGHL (EUR)

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 24 Nov 2020.

Estimated NAV

	Euro Shares	Sterling Shares
Estimated NAV	€    25.1174	£    22.1338
Estimated MTD return	4.09 %	3.73 %
Estimated YTD return	9.69 %	7.26 %
Estimated ITD return	151.17 %	121.34 %

NAV and returns are calculated net of management and performance fees

Market information

Euro Shares	Amsterdam (AEX)	London (LSE)
Market Close	€    18.70	N/A
Premium/discount to estimated NAV	-25.55 %	N/A
Sterling Shares	Amsterdam (AEX)	London (LSE)
Market Close	N/A	GBX 1,650.00
Premium/discount to estimated NAV	N/A	-25.45 %

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