Dear Shareholders,

In the current context related to the Covid-19 pandemic and in a difficult market environment, I wanted to share a few messages with you.

Wavestone’s Crisis Unit has been in operation for several weeks now, monitoring the development and impacts of the Covid-19 epidemic. The unit has taken swift action to protect the health of the firm’s employees, help limit the spread of the virus, and minimize the impact of the situation on its business and that of its clients.

The firm remains fully operational, despite the lockdown measures in force in many countries. As a result, the company is continuing to deliver the vast majority of projects effectively, despite the circumstances.

The increasingly widespread lockdown measures are starting to have a noticeable impact on the company’s level of business activity, and the degraded and uncertain economic environment carries the risk of compromises and of a reduction in demand. This situation is likely to affect the annual financial objectives for the 2019/20 fiscal year, but to a limited extent.

In financial terms, Wavestone is on a sound footing, which enables it to face the current circumstances with confidence.

The times we’re now going through are testing for us all. I know that Wavestone will rise to meet the challenges ahead of us, just as we’ve done on several occasions in the past. Wavestone’s employees’ skills, shared sense of purpose and commitment are our greatest assets.

In the current situation, shareholder meetings can unfortunately no longer be held. Rest assured that we are fully mobilized to keep you informed of the measures we are taking to deal with this unprecedented health crisis.

Our Shareholders Services team is at your disposal to support you and answer any questions you may have by email. The team will get back to you very soon about our upcoming events (Club Actionnaires, Annual Shareholders Meeting, etc) and news (Individual Shareholders’ Consultative Committee).

I would like to thank you for your loyalty.

Pascal Imbert, CEO of Wavestone

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