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 25 Feb 2021.

Estimated NAV

	Euro Shares	Sterling Shares
Estimated NAV	€    26.3727	£    23.0346
Estimated MTD return	0.69 %	0.54 %
Estimated YTD return	1.69 %	1.17 %
Estimated ITD return	163.73 %	130.35 %

NAV and returns are calculated net of management and performance fees

Market information

Euro Shares	Amsterdam (AEX)	London (LSE)
Market Close	€    21.50	N/A
Premium/discount to estimated NAV	-18.48 %	N/A
Sterling Shares	Amsterdam (AEX)	London (LSE)
Market Close	N/A	GBX 1,800.00
Premium/discount to estimated NAV	N/A	-21.86 %

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