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 26 Nov 2020.

Estimated NAV

	Euro Shares	Sterling Shares
Estimated NAV	€    25.1441	£    22.1613
Estimated MTD return	4.20 %	3.85 %
Estimated YTD return	9.80 %	7.39 %
Estimated ITD return	151.44 %	121.61 %

NAV and returns are calculated net of management and performance fees

Market information

Euro Shares	Amsterdam (AEX)	London (LSE)
Market Close	€    18.75	N/A
Premium/discount to estimated NAV	-25.43 %	N/A
Sterling Shares	Amsterdam (AEX)	London (LSE)
Market Close	N/A	GBX 1,750.00
Premium/discount to estimated NAV	N/A	-21.03 %

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