2020was a year when Ardian’s resilience and the strength of our culture and values were tested as never before. Alongside many others the world over, we had to respond to the calamitous spread of the pan- demic and play our part in the global effort to overcome the virus. We reorganized rapidly to protect our staff, support our portfolio companies and ensure our work could continue with minimal disruption. Along with our portfolio companies, we contributed to the fightback by making financial donations, supplying essential equipment and offering services free of charge. Ardian has always had a strong sense of social solidarity. Our company has a history of responding to crisis by focusing on our responsibilities to stakehol- ders and our role in society. In 2008, during the Global Financial Crisis, our President Dominique Senequier launched Ardian’s pioneering profit sharing charter, pledging wherever possible to distribute a portion of our capital gains on exit to every employee of the companies involved. Over the 12 years since then, we have become one of the private investment world’s leading practitio- ners and advocates of responsible investment. COHESION AND RESOLVE People and organizations reveal their true character during times of crisis and adversity. We owed our ability to react quickly and positively to the onset of the pandemic to the exceptional cohesion and resolve of our staff. The outstanding work of our business continuity team was also critical, as they implemented the plan that we had developed over the previous five years. The results of these collective efforts during 2020 speak for themselves. Ardian has continued to raise and deploy funds with minimal disruption, closing new generations of our Secondary Fund of Funds and Expansion funds. 2020 ACTIVITY REPORT 11