Altamir - Registration Document 2016

3

FINANCIAL STATEMENTS Statutory financial statements

2.4 EQUITY INVESTMENTS AND PORTFOLIO INVESTMENTS HELD AS NON-CURRENT ASSETS

Amount at start of year

Amount as of 31 December 2016

Financial year 2016 (in thousands of euros)

Gross book value

Net book value

Estimated value

Gross book value

Net book value

Estimated value

Fractions of the portfolio valued: at cost

0

0

0

0

0

0

below cost based on market price

154,951

148,880

226,668

93,032

90,849

157,720

based on net book value based on re-estimated net book value (Apax France VIII-B/Apax VIIIA LP/Phénix: A units) (Apax France VIII-B/Apax VIII-A LP: E and B units) based on a yield or profitability measure

177,837

177,807

244,196

284,814

280,756

509,766

22,020 101,556 20,230

22,020 100,871

10,265 90,408 20,230

10,265 89,780

189,599

171,059

by other methods

1,978

1,978

2,101

2,101

TOTAL

476,595

451,556 662,440 498,749

473,752 840,647

Total related receivables PORTFOLIO TOTAL

24,905

23,905

24,034

34,817

33,817

33,936

501,499 475,460 686,474 533,566 507,569 874,583 Amount at start of year Amount as of 31/12/2016

Provisions

26,039

25,997

Unrealised, unrecognised gains 367,014* * Unrealised, unrecognised gains include gains on investments held in the Apax France VIII-B and Apax France IX-B funds. As these two funds had drawn down on credit lines as of 31 December 2016, the amounts used to finance these investments were not fully paid by Altamir and, accordingly, are not included in gross book value and net book value. These credit-line financed investments are, however, included in the estimated value figures. 211,014

CHANGES IN VALUE OF THE PORTFOLIO (NET BOOK VALUE AND ESTIMATED VALUE)

Portfolio value

Changes during the year (in thousands of euros) Amount at start of year Acquisitions during the year (1) Divestments during the year (2)

Net book value

Estimated value

475,460 114,270 -70,449

686,474 207,856 -205,040

Reversal of impairment on securities sold Gains on sale of securities held at the start of the year acquired during the year Other changes in unrealised gains on securities acquired during the year on securities acquired previously Distribution by portfolio companies Other accounting movements (3) Change in provision for impairment of the portfolio

11,133

42

174,159

-11,755

CLOSING BALANCE 874,583 (1) The net book value amount corresponds to acquisitions undertaken by Altamir, and to Apax France VIII-B, Apax VIII LP (A units), Phénix and Apia Vista capital calls less distributions. (2) The amounts indicated in the line “Divestments during the year” represent, for the column “Net book value”, the net book value of the assets sold and, for the column “Estimated value”, their sale price. (3) The net book value amount corresponds to the subscription of E units in Apax France VIII-B, to the acquisition of E and B units in Apax VIII LP and to the subscription of E units in Apax France IX-B. 507,569

134 REGISTRATION DOCUMENT 1 ALTAMIR 2016

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