Company: LAZ
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010240
Chunk: 2

Company: Lazard, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 2
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, as well as improving business conditions throughout the year. In 2024, firm-wide net revenue increased 21% (18% on an Adjusted basis), Financial Advisory net revenue increased 27% (28% on an Adjusted basis), and Asset Management net revenue increased 3% (3% on an Adjusted basis). We believe these results represent significant progress towards the achievement of our long-term growth objectives and initiatives, which are referred to herein as the “Lazard 2030 Strategic Plan” and discussed further below.

| Net Revenue        |     | $3,052 million on a U.S. GAAP basis and $2,890 million on an Adjusted basis* |
| Net Income         |     | $280 million on a U.S. GAAP basis and $244 million on an Adjusted basis*     |
| Earnings Per Share |     | $2.68 on a U.S. GAAP basis and $2.34 on an Adjusted basis*                   |
| Operating Margin   |     | 12.7% on a U.S. GAAP basis and 14.2% on an Adjusted basis*                   |
| Compensation Ratio |     | 65.6% on a U.S. GAAP basis and 65.9% on an Adjusted basis*                   |
| Return of Capital  |     | $303 million returned to shareholders                                        |

| * | Adjusted net revenue, adjusted net income, adjusted earnings per share, adjusted operating margin, and adjusted compensation ratio are non-GAAP measures. For a description of how to calculate each non-GAAP measure and a reconciliation between each non-GAAP measure and the respective comparable GAAP financial measure, see Annex A to this Proxy Statement: Calculation of Non-GAAP Measures. |

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TABLE OF CONTENTS

| Proxy   
 Summary |     | Governance |     | Executive    
 Compensation |     | Audit   
 Matters |     | Shareholder 
 Proposals   |     | General     
 Information |

Lazard 2030 Strategic Plan The Lazard 2030 Strategic Plan includes a series of ambitious long-term growth objectives and initiatives. To achieve these goals, we plan to:

| • | Steadily expand the number of managing directors (“MDs”) in Financial Advisory, adding approximately 10 to 15 net MDs annually. |

| • | Achieve stable growth in our traditional asset management business while diligently pursuing acquisition opportunities in the alternative asset management space. |

| • | Redirect our capital allocation