LAZ

• Asset Management revenue grew 20% (GAAP) and 23% (adjusted) year-over-year in Q2, with record ending AUM of $285 billion as of June 30, 2026, up 15% from a year earlier.
• Financial Advisory revenue declined 9% (both GAAP and adjusted) in Q2, though the firm advised on notable deals including NextEra Energy's combination with Dominion Energy ($420 billion enterprise value) and Vertex's $10 billion acquisition of Crinetics Pharmaceuticals.
• The company returned $103 million to shareholders in Q2 2026, including $49 million in dividends and $50 million in share repurchases, and declared a quarterly dividend of $0.50 per share payable August 14, 2026.
• The effective tax rate for Q2 was elevated (63.5% GAAP, 69.7% adjusted) due to anomalous factors, which management said is not indicative of the full-year rate.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Andrew M. Alper notified the company on July 7, 2026, of his retirement from the Board and all committees, effective that day, with no disagreement with the company.
• Elsesser, a retired Goldman Sachs partner and former Global Chair of Consumer Retail and Healthcare Groups, also serves on TPG's Board and is a trustee of Sesame Workshop.
• Elsesser will receive compensation under the company's non-employee director compensation program, as described in the April 7, 2026 proxy statement.
• Alper retired after more than 13 years of service on Lazard's Board.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• The Certificate of Amendment was filed with Delaware on May 22, 2026, and became effective that day.
• Amended and Restated By-Laws reflecting the phased declassification also became effective on May 22, 2026.
• Directors elected: Orszag, Jarrard, and Knobloch, each with over 73 million votes for.
• Shareholders also approved executive compensation (non-binding), the 2018 Incentive Compensation Plan amendment, and ratification of Deloitte & Touche as auditor.

5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year · 5.07 Submission of Matters to a Vote of Security Holders · 9.01 Financial Statements and Exhibits

• First-quarter 2026 net revenue was $757 million, up 17% from $648 million in Q1 2025; adjusted net revenue was $673 million, up 5%.
• Asset Management adjusted net revenue rose 17% to $309 million, with positive net flows of $9 billion; ending AUM was $259 billion, up 14% YoY.
• Financial Advisory adjusted net revenue fell 4% to $356 million, with 28 net Managing Director additions in 2025.
• On April 30, 2026, Lazard agreed to acquire Campbell Lutyens, expecting combined 2027 revenue of approximately $500 million; deal expected to close in H2 2026.
• Lazard declared a quarterly dividend of $0.50 per share, payable May 22, 2026.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Total consideration includes $460 million initial closing payment (subject to adjustments), $115 million deferred payment at second anniversary, and up to $85 million earn-out based on revenue growth through 2030.
• Initial consideration will be primarily paid in Lazard common stock at $46.50 per share, with cash for closing adjustments; deferred and earn-out may be settled in stock, loan notes, or cash.
• Closing is subject to regulatory approvals, including the U.K. Competition and Markets Authority; a $50 million termination fee may apply if the deal fails due to that condition.
• The acquisition is expected to create a global leader in private capital advisory, combining Lazard's and Campbell Lutyens' fund placement, secondary advisory, and GP capital advisory services.

1.01 Entry into a Material Definitive Agreement · 3.02 Unregistered Sales of Equity Securities · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• Total consideration is approximately $575 million, payable partly at closing and partly two years later, with potential additional consideration of up to $85 million based on performance criteria.
• The combined business will operate as Lazard CL, a new third global business, with Holcombe Green and Gordon Bajnai appointed Co-CEOs.
• The combined entities represent approximately $500 million in estimated combined 2027 revenue and over 280 advisory professionals across 18 offices.
• Closing is anticipated in calendar year 2026, subject to regulatory approvals, and the transaction is expected to be accretive to 2027 earnings.
• The disclosure was made under Item 7.01 Regulation FD, with a press release furnished as Exhibit 99.1 and a presentation posted to Lazard's website.

7.01 Regulation FD Disclosure

• Tracy Farr, a Managing Director in Lazard's Capital Structure Advisory group, will become CFO on February 1, 2026.
• Farr's salary will increase to $750,000, with eligibility for a discretionary annual bonus.
• Betsch will receive her current base salary and benefit plan participation during the advisory period, plus severance benefits after separation.
• The company may accelerate vesting of certain deferred incentive awards in February 2026.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 7.01 Regulation FD Disclosure · 8.01 Other Events · 9.01 Financial Statements and Exhibits

• Full-year 2025 GAAP net income was $237M ($2.17 per diluted share); adjusted net income was $266M ($2.44 per diluted share).
• Financial Advisory full-year adjusted net revenue was a record $1.8B, with revenue per MD of $8.9M and 21 Managing Directors hired in 2025.
• Asset Management full-year adjusted net revenue was $1,166M; ending AUM was $254B, up 12% year-over-year.
• Lazard declared a quarterly dividend of $0.50 per share, payable February 20, 2026.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits