X0306 4 2022-02-23 0 0001311370 Lazard Ltd LAZ 0001287727 BHUTANI ASHISH C/O LAZARD LTD 30 ROCKEFELLER PLAZA NEW YORK NY 10112 1 1 0 0 CEO of Lazard Asset Management Performance-based Restricted Participation Units 2022-02-23 4 A 0 181390 A Class A Common Stock 181390 267279 D Represents prior grants of Performance-based Restricted Participation Units ("PRPUs") awarded with respect to compensation for 2018 and 2019 for which performance conditions have been satisfied. The grants at target were previously reflected in the Company's proxy statement for the relevant years. Each PRPU (the performance and other conditions of which have been satisfied) represents an interest in Lazard Group LLC that may be exchanged for one share of Class A Common Stock. Of these PRPUs, 156,719 will vest on or around March 1, 2022, and 24,671 will vest on or around March 1, 2023. Amount excludes 712,430 shares of Class A Common Stock directly or indirectly beneficially owned by the reporting person. /s/ Ashish Bhutani by Scott D. Hoffman under a P of A 2022-02-25