BGHL Euro 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 01 Dec 2020.

Estimated NAV

	Euro Shares	Sterling Shares
Estimated NAV	€    25.2544	£    22.1961
Estimated MTD return	0.21 %	-0.09 %
Estimated YTD return	10.28 %	7.56 %
Estimated ITD return	152.54 %	121.96 %

NAV and returns are calculated net of management and performance fees

Market information

Euro Shares	Amsterdam (AEX)	London (LSE)
Market Close	€    18.90	N/A
Premium/discount to estimated NAV	-25.16 %	N/A
Sterling Shares	Amsterdam (AEX)	London (LSE)
Market Close	N/A	GBX 1,750.00
Premium/discount to estimated NAV	N/A	-21.16 %

Transactions in own securities purchased into treasury

Ordinary Shares	Euro Shares	Sterling Shares
Number of shares	200,000	N/A
Average Price	€    18.85	N/A
Range of Price	N/A	N/A