ALTAMIR_REGISTRATION_DOCUMENT_2017

3

FINANCIAL STATEMENTS

Consolidated financial statements

NOTE 27 Contingent liabilities

The contingent liabilities of the Company broke down as follows:

31/12/2017

31/12/2016

(in euros)

Irrevocable purchase obligations (investment commitments) Other long-term obligations (liability guarantees and other)

515,843 6,184,051

172,514

6,184,051

TOTAL

6,699,894 16,877,068 228,681,131 74,244,000 326,502,093

6,356,565 16,877,068

Altamir’s investment commitments in Apax France VIII-B Altamir’s investment commitments in Apax France IX-B Altamir’s investment commitments in Apax IX LP

295,950,000 138,000,000 457,183,633

TOTAL

The table above does not include distributions paid by the funds, which can legally be called back by the Management Company to meet the funds’ cash requirements, principally for follow- on investments in their portfolios. As of 31 December 2017, the distributions that could be called back amounted to €5.4m and related solely to the Apax VIII LP fund. As part of the divestment of Buy Way, Altamir provided a guarantee, capped at 15%of the sale price, i.e . €6,184,051, in order to meet any third-party claims, and to cover the sellers’ filings and any tax risks.

The tables above show the subscription commitments not yet called as of 31 December 2017 and 31 December 2016. Altamir had committed to invest between €200m and €280m in Apax France VIII-B. Altamir’s definitive commitment is €276.7m. As of 31 December 2017, the amount called was €259.8m. Altamir has committed to invest €138m in Apax IX LP. As of 31 December 2017, the amount invested was €63.8m. Altamir has committed to invest between €226m and €306m in Apax France IX-B. As of 31 December 2017, the amount called was €77.2m. The amount invested, but financed by credit lines and thus not called by the fund, was €37.2m.

DIRECT INVESTMENT COMMITMENTS

27.1

Cancellation of Commitments as of 31/12/2017

New commitments as of 31/12/2017

Commitments as of 31/12/2016

Investments during the year

Commitments as of 31/12/2017

Companies

Listed securities

0

0

0

0

0

Investment commitment in Altimus

172,514

172,514

Investment commitment in Turing Equity Co LP

515,843 515,843 515,843

515,843 515,843 515,843

Unlisted securities

172,514 172,514

172,514 172,514

0 0

TOTAL

128 REGISTRATION DOCUMENT

• ALTAMIR 2017

www.altamir.fr