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Dear Shareholders,

In this Letter to Shareholders, you will find a wide variety of information: (i) our results in the first quarter of 2020, (ii) a message from André François-Poncet about the dividend and the Annual Shareholders’ Meeting, which we are obligated to hold behind closed doors, (iii) a report on our most recent acquisition, Crisis Prevention Institute (CPI), with additional information from Adam Reinmann, CEO of Wendel North America, and Tony Jace, CEO of CPI and (iv) an exclusive interview with Didier Michaud-Daniel, CEO of Bureau Veritas.

In this unprecedented context, we feel it is important to inform you of how we are operating amid the Covid-19 pandemic. As such, in a report dedicated to our organization, you will learn how Wendel’s staff have worked remotely to maintain our business activity.

Next, on the occasion of the tenth anniversary of the Centre Pompidou-Metz, we will turn to Chiara Parisi, the Center’s curator appointed in December 2019, to hear about her plans for the museum. Finally, Alain Missoffe, co-author of the book entitled Femmes de fer and a member of the Wendel family, will present the legacy of the women who have left their mark on the Wendel dynasty.

Enjoy reading your new Letter to Shareholders.

The editorial staff

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