Altamir - Registration Document 2016

5

SUPPLEMENTARY INFORMATION

Glossary

5.6 GLOSSARY

AFIC AFIC (Association Française des Investisseurs pour la Croissance), established in 1984, is a professional association that includes nearly all private equity investors in France. Its mission is to promote and develop private equity investment by federating all the players in the marketplace (www.afic-asso.fr). BUILD-UP Acquisition financed usually with debt, carried out by a company taken over through an LBO. It is intended to create a larger, more profitable group by creating synergies, and one with a higher valuation for its shareholders when it is subsequently sold. BUSINESS PLAN The company’s strategic development plan for three to five years, with a detailed action plan for marketing, competition, products, techniques, production methods, investments, manpower, IT, financing, etc. CARRIED INTEREST Share of profit fromperformance returned to the fundmanagement company, calculated on the basis of a private equity fund’s income and capital gains (usually 20%). In Altamir’s case, carried interest is equal to 20% of net gains as per the Articles of Association, allocated as follows: 2% to the general partner, and 18% to the Class B shareholders, who are the members of the management team. Since Altamir’s inception, carried interest has been calculated based on adjusted statutory net income. This result includes realised capital gains and unrealised capital losses (impairment of securities) but does not include unrealised capital gains, contrary to IFRS income, which is used to determine Net Asset Value (NAV). CLASS B SHARES Class B shares are preferred shares allocated to members of the Apax fund management team which entitle the holder to a share in the company’s performance, called carried interest. CLOSING Final step of a transaction, with the signing by all participants (company officers and financial investors) of the legal documentation (including any shareholders’ agreements) and disbursement of funds. BUYOUT FUND A private equity fund that acquires majority interests in established companies.

CO-INVESTMENT Direct investment in a company along with a private equity fund, with equivalent pricing, conditions and rights.

DEBT MULTIPLE Ratio of a company’s debt to its EBITDA.

DISCOUNT Shares of listed private equity companies often trade with a discount to NAV, i.e. at a share price less than the NAV per share. The discount is the difference between the market price and NAV per share, expressed as a percentage of NAV. DIVIDENDS The dividend is the remuneration paid to shareholders in exchange for their investment in the company’s equity. It is the portion of distributable income that, based on the recommendation of the Supervisory Board and approval by shareholders, is paid to each shareholder. DUE DILIGENCE All measures taken in the analysis and review of information that allow the equity investor to make a judgement about the business, financial condition, income, growth prospects and organisation of the company being considered for acquisition.

176 REGISTRATION DOCUMENT 1 ALTAMIR 2016

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