Altamir - Registration Document 2016

CORPORATE GOVERNANCE

Report of the Chairman of the Supervisory Board

B. Combat against money laundering and terrorist financing

Investment and Divestment Committee: composed of four senior partners, the committee takes the final decisions on investments and divestments: full or partial sale, merger, IPO, reinvestment; Portfolio Monitoring Committee: composed of four partners and external consultants, the committee meets according to a pre-determined schedule. Its role is to work with the team in charge of an investment so as to ensure that the strategic and operational objectives aremet and that the performance of the investment is controlled. All investments are subject toa financial, legal and tax audit byone or more renowned independent auditors. Other reviews (market, insurance and environment) are carried out when necessary. The Management Company has ensured that Apax Partners LLP operates similarly to the French asset management companies. The second objective is to control cash flows and assets. This is achieved by implementing the following processes: the accounting and fund administration processes are segregated; securities are registered in “pure” nominative form and periodically reconciled with the custodian and registrars of each company; payment instructions are centralised with the Chairman of the management companies in the case of the funds, and with the Chairman of the Management Company of Altamir; fund administration, together with the bank custodian, ensures that the legal documentation is completebefore submitting the documents to the Chairman for signing; fund administration and the accountingdepartment ensure the pari passu distributionof investments anddivestments between the funds and Altamir and between the Apax France VIII-A, Apax France VIII-B, Apax France IX-A and Apax France IX-B funds, Altamir’s new investment vehicles, based on the rules defined at the start of every half-year. As previously reported, Altamir’s Supervisory Board has created an Audit Committee, which can be assisted by the Company’s Statutory Auditors. The third objective is the accuracy of financial reporting. The objective is achieved by cross-checking accounting data with data from the securities management system. Increasingly sophisticated automation limits the risk of human error. The fourth objective is compliance with laws and regulations in force. The Company does everything in its power to adhere not only to general regulations, but also to the regulations specific to SCRs (investment eligibility quotas) and to listed companies.

As every year, Apax Partners employees took part in a training course on combatingmoney laundering and terrorist financing. Controlssuitedtothenatureofthetransactionswereperformed.

SUMMARY OF THE COMPANY’S INTERNAL CONTROL PROCEDURES

This section reiterates much of the content of previous reports on internal control. Its purpose is to refresh the reader’s memory of the practices implemented by the Company.

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A. Organisation of the Company’s internal control procedures A) INTERNAL CONTROL PARTICIPANTS AND THEIR ACTIVITIES The purpose of the Company is to invest, in principle, in securities of unlisted companies, either directly, or via investment vehicles such as French or European private equity funds. Altamir continues to create value and divest alongside the funds from Apax France VI to Apax France VII, managed by Apax Partners SA. Since 2011, Altamir has also invested via the Apax France VIII-B and Apax France IX-B funds, managed by Apax Partners MidMarket SAS, and since 2012, via the Apax VIII LP and Apax IX LP funds advised by London-based Apax Partners LLP. Occasionally, theCompanymay co-investwith all these funds. For these investments, it is assistedby investment and support teams. The first objective of internal control is to ensure the quality of the investment and divestment process. Internal control involves ensuring that the investment teams focus solely on projects in line with the Company strategy in terms of sector, maturity, size and expected financial performance. The investment monitoring bodies for the funds managed in France are: Approvals Committee: composed of two or three experienced partners, theApprovals Committeemonitors the due diligence and negotiation procedures undertaken by the investment team;

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REGISTRATION DOCUMENT 1 ALTAMIR 2016