Lazard Ltd - 2026年季度报告

LAZARD, INC. (Exact name of registrant as specified in its charter) Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90days. YesNo Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). YesNo Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of theExchange Act. TABLE OF CONTENTS When we use the terms “Lazard”, “we”, “us”, “our” and “the Company”, we mean Lazard, Inc., a company incorporated under thelaws of the state of Delaware, and its subsidiaries. Lazard’s subsidiaries include Lazard Group LLC, a Delaware limited liability company, thatis the current holding company for our businesses. Lazard’s primary operating asset is its indirect ownership of all of the common membership Part I. Financial Information Item 1. Financial Statements (Unaudited)Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3. Quantitative and Qualitative Disclosures About Market RiskItem 4. Controls and Procedures Part II. Other Information Item 1. Legal ProceedingsItem 1A. Risk FactorsItem 2. Unregistered Sales of Equity Securities and Use of ProceedsItem 3. Defaults Upon Senior SecuritiesItem 4. Mine Safety DisclosuresItem 5. Other InformationItem 6. ExhibitsSignatures i PART I. FINANCIAL INFORMATION Item 1.Financial Statements (Unaudited) Condensed Consolidated Statements of Financial Condition as of March 31, 2026 and December 31, 2025 LAZARD, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1.ORGANIZATION AND BASIS OF PRESENTATION Organization Lazard, Inc. is a global financial advisory and asset management firm, incorporated in Delaware that specializes in crafting solutionsto the complex financial and strategic challenges and opportunities of our clients. Lazard provides advice on mergers and acquisitions, capitalmarkets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, as well as asset management and Lazard, Inc. indirectly held 100% of all outstanding common membership interests of Lazard Group LLC, a Delaware limited liabilitycompany (collectively referred to, together with its subsidiaries, as “Lazard Group”), as of March31, 2026 and December31, 2025. Lazard,Inc., through its control of the managing members of Lazard Group LLC, controls Lazard Group, which is governed by a Third Amended and Lazard, Inc.’s primary operating asset is its indirect ownership of the common membership interests of, and managing memberinterests in, Lazard Group, whose principal operating activities are included in two business segments: •Financial Advisory, which offers corporate, partnership, institutional, government, sovereign and individual clients across the globea wide array of financial advisory services including mergers and acquisitions (“M&A”) advisory, strategic capital solutions, •Asset Management, which offers a broad range of global investment solutions and investment and wealth management services inequity and fixed income strategies, asset allocation strategies, alternative investments and private equity funds to corporations, In addition, we record selected other activities in our Corporate segment, including cash management, certain investments, deferredtax assets, outstanding indebtedness and certain contingent obligations. Basis of Presentation The accompanying condensed consolidated financial statements of Lazard have been prepared pursuant to the rules and regulations ofthe United States Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include allof the information and notes required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for completefinancial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in Lazard,Inc.’s Annual Report on Form 10-K for the year ended December31, 2025. The accompanying December31, 2025 unaudited condensed Preparing financial statements requires management to make estimates and assumptions that affect the amounts that are reported in thecondensed consolidated financial statements and th