Altamir - Registration Document 2016

3

FINANCIAL STATEMENTS

Consolidated financial statements

31 December 2015 Investment portfolio Sundry receivables Canadian dollars (CAD) Canadian dollars (CAD)

Assets in euros

4,345,751

Liabilities Net position before management Off-balance-sheet position Net position after management

4,345,751

0

4,345,751 434,575

0 0

IMPACT IN EUROS OF A 10% CHANGE IN THE EXCHANGE RATE

Investment portfolio Sundry receivables US dollars (USD) US dollars (USD)

Assets in euros

33,305,910

2,394,636

Liabilities Net position before management Off-balance-sheet position Net position after management

33,305,910

2,394,636

33,305,910 3,330,591

2,394,636 239,464

IMPACT IN EUROS OF A 10% CHANGE IN THE EXCHANGE RATE

Investment portfolio Sundry receivables Hong Kong dollars (HKD) Hong Kong dollars (HKD)

Assets in euros

553,465

Liabilities Net position before management Off-balance-sheet position Net position after management

553,465

0

553,465 55,347

0 0

IMPACT IN EUROS OF A 10% CHANGE IN THE EXCHANGE RATE

Investment portfolio Sundry receivables Indian rupee (INR) Indian rupee (INR)

Assets in euros

3,966,018

Liabilities Net position before management Off-balance-sheet position Net position after management

3,966,018

0

3,966,018 396,602

0 0

IMPACT IN EUROS OF A 10% CHANGE IN THE EXCHANGE RATE

Investment portfolio Sundry receivables Norwegian krone (NOK) Norwegian krone (NOK)

Assets in euros

7,236,270

Liabilities Net position before management Off-balance-sheet position Net position after management

7,236,270

0

7,236,270 723,627

0 0

IMPACT IN EUROS OF A 10% CHANGE IN THE EXCHANGE RATE

Altamir does not hedge against currency fluctuations, because the foreign exchange impact is notmaterial with respect to the expected gains on the securities in absolute value.

122 REGISTRATION DOCUMENT 1 ALTAMIR 2016

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