Webhelp and Concentrix announced yesterday that they have entered into an agreement to combine the two groups
(the “Transaction”), thereby creating a prominent global player in customer experience (“CX”). Access the Concentrix
press release here.

GBL, the majority shareholder of Webhelp, has supported this Transaction alongside Webhelp’s co-founders, Olivier Duha and
Frédéric Jousset, and management.
Upon completion of the Transaction1, GBL would become the largest shareholder of the combined entity and be represented on
its Board of Directors. The new company’s high-quality management and first-rate client portfolio will support growth and
profitability that should lead to further value creation for GBL and its stakeholders.
GBL would be paid in (i) Concentrix shares, (ii) earn-out shares and (iii) a seller note as follows: 12.9% of Concentrix’s outstanding
common stock; earn-out shares that could give access to additional capital to the combined entity if certain thresholds are reached;
and a note entitling GBL to receive approximately €500m in cash on the second anniversary of the Transaction closing.
The implied valuation of €1.529bn for GBL’s stake in Webhelp represents a MoIC of 1.8x since GBL’s initial investment in
November 2019.

This Transaction is in line with the strategy GBL initiated in 2019 to invest in solid, fast-growing private platforms well positioned
to participate in sector consolidation and attain leadership.

For more information, please contact:
Xavier Likin Alison Donohoe
Chief Financial Officer Head of Investor Relations
Tel: +32 2 289 17 72 Tel: +32 2 289 17 64

About Groupe Bruxelles Lambert
Groupe Bruxelles Lambert (“GBL”) is an established investment holding company, with over sixty years of stock exchange listing
and a net asset value of €17.8bn at the end of December 2022. As a leading and active investor in Europe, GBL focuses on longterm value creation with the support of a stable family shareholder base. As a responsible company and investor, GBL perceives
ESG factors as being inextricably linked to value creation.
GBL aims to grow its diversified high-quality portfolio of listed, private and alternative investments.
GBL is focused on delivering meaningful growth by providing attractive returns to its shareholders through a combination of growth
in its net asset value, a sustainable dividend and share buybacks.
GBL is listed on Euronext Brussels (Ticker: GBLB BB; ISIN code: BE0003797140) and is included in the BEL20 index.

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