Altamir - Registration Document 2016

3

FINANCIAL STATEMENTS

Consolidated financial statements

NOTE 15 Other current financial liabilities

As of 31 December 2016, this line itemprimarily included debts to Apax France IX-B (€64.3m) and Apax IX LP (€3.9m), corresponding to investmentsmade that Altamir has not yet been asked to fund. This line itemalso includes €16moutstanding under the line of credit used by Apax France VIII-B.

NOTE 16 Valuation differences on divestments during the year

31/12/2016 205,040,489 193,907,477

31/12/2015 29,789,652 14,748,520 15,041,133 15,298,998

(in euros) Sale price

Fair value at start of year IMPACT ON INCOME

11,133,012 23,015,963 -11,882,951

Of which positive price spread on divestments Of which negative price spread on divestments

-257,865

NOTE 17 Other portfolio income

Other portfolio income is detailed as follows:

31/12/2016

31/12/2015

(in euros)

Interest and other portfolio income received

102,891

60,413

Dividends

1,350,373 1,453,264

18,461,104 18,521,517

TOTAL

NOTE 18 Purchases and other external expenses (incl. tax)

Purchases and other external expenses broke down as follows:

31/12/2016 9,196,977

31/12/2015 10,666,036 7,016,201 1,403,240 2,246,595

31/12/2014 10,288,298

(in euros)

Direct fees (incl. tax): (1)

Altamir Gérance management fees (excl. tax)

5,791,549 1,158,310 2,247,118

7,023,612 1,404,722 1,859,963

Non-recoverable VAT on Altamir Gérance management fees

Other fees and expenses (incl. tax)

including fees related to the portfolio

133,184

227,792

144,588

including recharges for services, administration and investor relations

686,477

659,980 391,965 7,745,386

708,190 118,986

including fees related to overdraft lines

172,147

Indirect fees (incl. tax):

11,772,021

6,814,793

Apax France VIII-B, Apax VIII LP, Phénix, Apia Vista, Apax France IX-B and Apax IX LP management fees Other Apax France VIII-B, Apax VIII LP, Phénix, Apia Vista, Apax France IX-B and Apax IX LP expenses TOTAL EXPENSES AND EXTERNAL PURCHASES (2)

8,188,840

6,026,382

5,600,581

3,583,181

1,719,004 18,411,423

1,214,213

20,968,997

17,103,091

Direct investments at cost:

273,148,716 596,676,379 869,825,095

301,731,265 339,720,000 641,451,265

305,390,218 339,720,000 645,110,218

Subscription commitments in the Apax funds CAPITAL COMMITTED AND INVESTED

(1) / Average NAV.

1.25% 2.78%

1.69% 2.86%

1.82% 2.63%

(2) / Average capital committed and invested

118 REGISTRATION DOCUMENT 1 ALTAMIR 2016

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