Holding(s) in Company

Form to be used for the purposes of notifying a change in major holdings pursuant to the modified law and grand-ducal regulation of 11 January 2008 on transparency requirements for issuers of securities (referred to as "the Transparency Law" and "the Transparency Regulation")

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the CSSF)i

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:

Lazard World Trust Fund

2. Reason for the notification (please tick the appropriate box or boxes):

 An acquisition or disposal of voting rights

 An acquisition or disposal of financial instruments

 An event changing the breakdown of voting rights

 Other (please specify)iii:

3. Details of person subject to the notification obligationiv :

Name: Wells Capital Management

City and country of registered office (if applicable): San Francisco , USA

4. Full name of shareholder(s) (if different from 3.)v:

5. Date on which the threshold was crossed or reachedvi: March 14, 2018

6. Total positions of person(s) subject to the notification obligation:

% of voting rights attached to shares (total of 7.A)

% of voting rights through financial instruments(total of 7.B.1 + 7.B.2)

Total of both in % (7.A + 7.B)

Total number of voting rights of issuervii

Resulting situation on the date on which threshold was crossed or reached

10.13 %

%

10.13 %

46,635,770

Position of previous notification (if applicable)

8.92 %

%

8.92 %

7. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii:

A: Voting rights attached to shares

Class/type ofshares

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

(Art 8 of the

Transparency Law)

Indirect

(Art 9 of the

Transparency Law)

Direct

(Art 8 of the

Transparency Law)

Indirect

(Art 9 of the Transparency Law)

LU0483266259

4,722,925

%

10.13 %

%

%

%

%

SUBTOTAL A

(Direct & Indirect)

10.13 %

B 1: Financial Instruments according to Art. 12(1)(a) of the Transparency Law

Type of financial instrument

Expirationdatex

Exercise/Conversion Periodxi

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

%

%

%

SUBTOTAL B.1

%

B 2: Financial Instruments with similar economic effect according to Art. 12(1)(b) of the Transparency Law

Type of financial instrument

Expirationdatex

Exercise/Conversion Periodxi

Physical or cash settlementxii

Number of voting rights

% of voting rights

%

%

%

SUBTOTAL B.2

%

8. Information in relation to the person subject to the notification obligation:

(please tick the applicable box)

 Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.xiii

 Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please provide a separate organisational chart in case of a complex structure):

N°

Namexv

% of voting rights held by ultimate controlling person or entity or held directly by any subsidiary if it equals or is higher than the notifiable

threshold

% of voting rights through financial instruments held by ultimate controlling person or entity or held directly by any subsidiary if it equals or is higher than the notifiable

threshold

Total of both

Directly controlled by (use number(s) from 1st column)

%

%

%

%

%

%

%

%

%

%

%

%

%

%

%

9. In case of proxy voting:

The proxy holder named Wells Capital Management added 228,000 voting rights and 0.49% as of March 14, 2018.

10. Additional informationxvi:

Done at

San Francisco, CA

On

March 20, 2018