Tranche Update on Lazard, Inc.'s Equity Buyback Plan announced on May 1, 2014.

Lazard, Inc. is a financial advisory and asset management company. The Financial Advisory segment offers corporate, partnership, institutional, government, sovereign and individual clients across the globe an array of financial advisory services regarding strategic and mergers and acquisitions (M&A) advisory, capital markets advisory, shareholder advisory, restructuring and capital solutions, sovereign advisory, geopolitical advisory, and other strategic advisory matters and capital raising and placement. The Asset Management segment offers a range of global investment solutions and investment and wealth management services in equity and fixed income strategies, asset allocation strategies, alternative investments and private equity funds to corporations, public funds, sovereign entities, endowments and foundations, labor funds, financial intermediaries and private clients. The Company operates in North and South America, Europe, Asia and Australia.