LAZARD LTD

CUSIP: G54050102 Class: Foreign Stock

TRIAN FUND MANAGEMENT, L.P.'s Holding History (CIK: 0001345471)

Note: Option positions (PUT/CALL) are excluded.

Q4 2014
Shares 4,973,851 Value ($000) $248,842 Avg Close — Range —
Q3 2014
Shares 4,973,851 Value ($000) $252,174 Avg Close — Range —
Q2 2014
Shares 6,606,540 Value ($000) $340,633 Avg Close — Range —
Q1 2014
Shares 6,606,540 Value ($000) $311,102 Avg Close — Range —
Q4 2013
Shares 6,702,380 Value ($000) $303,752 Avg Close — Range —
Q3 2013
Shares 6,702,380 Value ($000) $241,420 Avg Close — Range —
Q2 2013
Shares 6,702,380 Value ($000) $215,482 Avg Close — Range —