From the Editor

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Dear Shareholders,

In an effort to enrich the information we provide to shareholders, we have decided to upgrade your Letter to shareholders.

Your letter will now look more like a news magazine with more detailed articles, interviews, analyses, and more. Our aim is to better inform you about what is happening at Wendel and what we have accomplished.

You will also find this letter in its entirety on the individual shareholders pages of Wendel’s website, which have also been redesigned.

Enjoy reading your new Letter to shareholders!

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