WENDEL: Wendel Investor Day

Core Insights - Wendel is undergoing a significant transformation into a global investment firm focused on private assets, aiming to generate over €7 billion in cash flow by 2030 and return at least €1.6 billion to shareholders [1][11][10] Group 1: Strategic Transformation - Wendel has evolved from a traditional investment holding company to a global investment firm with a focus on controlled private assets, maintaining its long-term investor DNA [1][10] - The company has established a unique private asset investment ecosystem in North America and Europe, supported by two complementary value creation engines: Wendel Investment Managers (WIM) and Wendel Principal Investments (WPI) [3][10] Group 2: Financial Projections - By 2030, Wendel expects to generate cash flows exceeding €7 billion, with over €1.6 billion allocated for shareholder returns through dividends and share buybacks [5][11] - WIM is projected to manage more than €46 billion in assets and generate annual Fee Related Earnings (FRE) exceeding €200 million by 2026, with an average organic FRE annual growth target of 15% through 2030 [3][18] Group 3: Shareholder Returns - Wendel plans to cancel 3.8% of its treasury shares and initiate a share buyback program representing 9% of its share capital in 2026, with the share cancellation expected to occur soon [1][12] - The return to shareholders will include annual dividends based on 2.5% of WPI's Net Asset Value and around 90% of dividends distributed by WIM, with a cumulative total of approximately €1.3 billion expected by the end of 2030 [12][11] Group 4: Investment Strategy - WPI aims for an average annual increase in intrinsic value of 12% to 16%, with plans to invest over €1.7 billion in principal investments and more than €2.5 billion in the WIM platform by 2030 [6][12] - The company will continue to assess selective external growth opportunities to enhance its platform and expertise [3][12]