ALTAMIR_REGISTRATION_DOCUMENT_2017

Presentation of the Company 1 PRESENTATION OF THE COMPANY AND ITS ACTIVITIES

www.altran.com

1) Business description Altrafin Participations, a holding company controlled by theApax funds, is the principal shareholder of Altran, with 8.4%of its capital and 16.7% of its voting rights. Altran is listed on Euronext Paris, Compartment A. Altran is a world leader in innovation and high-tech engineering consulting. Altran works with its clients over the entire value chain, from design to production. The group has been providing its expertise for over 30 years to key players in the Aerospace, Automotive, Defence, Energy, Finance, Life Sciences, Railway, Telecoms and other sectors. Altran has nearly 34,000 employees in over 20 countries. 2) Why did we invest? As the pioneer in its industry, Altran has developed the only international networkwith a comprehensive offering in innovation consulting. The company has a very strong brand in the industry and a diversified andwell-balanced portfolio of blue-chip clients. At the time of investment, Apax became the core shareholder that the Group needed. 3) How do we intend to create value? The investment thesis is based upon growing sales and EBITDA through organic growth, increasing Altran’s share of the outsourced R&D market, rationalising its portfolio of activities andgeographies, taking advantage of build-up opportunities and optimising costs. 4) What has been achieved? Altran’s portfolio of activities and geographies has been actively managed. The group has exited from loss-making countries, like Brazil, and reinforced its presence in keymarkets such asGermany, the UK and the US. It has also targeted investments in emerging

geographies (India and China) and exited from underperforming activities that were not in line with its strategy (Arthur D. Little). The company has implemented an active build-up strategy focused on Altran’s key markets, i.e., Germany, the UK, the US, India, China, andkey strategic sectors suchas EmbeddedSoftware and Intelligent Systems. In 2011, Philippe Salles was appointed as CEO to implement and accelerate Altran’s growth strategy. He was replaced in 2015 by Dominique Cerutti, who presented an ambitious strategic plan called “Altran 2020. Ignition” in November 2015. At the end of November 2017, Altran announced its intention to acquireUS companyAricent for €1.7bn and create the undisputed world leader in innovation and high-tech engineering consulting, with nearly 45,000 employees in some 30 countries and nearly €3bn in annual revenue. The transaction, which closed in March 2018, will be financed in part by a €750m capital increase. Apax Partners and Altamir have confirmed their intention to participate in the capital increase, pro-rata to their stake in the company. 5) How is it performing? In2017, Altrancontinued togrowandpostedconsolidated revenue of €2,282.2m, up 10% (4.8% organic growth and 5.6% economic growth) compared to 2016. EBIT came in at €246.3m, up 13.6% compared to 2016, representing a 10.8%margin vs. 10.5% in 2016. The valuation of our investment in Altran grew by €5.9m during the 2017 financial year. 6) How will we crystallise value? The successful transformation of the group, its financial performance and its new scale following its combination with Aricent should increase market investor interest, as well as that of trade or financial buyers.

SECTOR

COUNTRY

DATE OF INVESTMENT RESIDUAL COST IN €M

FAIR VALUE IN €M

% OF THE PORTFOLIO AT FAIR VALUE

2008

18.7

45.8

5.1

France

32 REGISTRATION DOCUMENT

• ALTAMIR 2017

www.altamir.fr