ALTAMIR_REGISTRATION_DOCUMENT_2017

PRESENTATION OF THE COMPANY AND ITS ACTIVITIES Internal control procedures implemented by the Company

Valuation of the securities in the portfolio For a portfolio management firm or SCR, reporting is based in particular on the valuation of the securities in its portfolio. „ For investments on a pari passu basis with the funds managed by Amboise Partners SA: A half-yearly valuation is prepared by the partner in charge of each equity holding. These proposals are reviewed and may be amended during the portfolio review meeting attended by all partners. Altamir’s Audit Committee also reviews valuations and may question them. The valuations derived from financial models (for securities acquired in LBOs) are checked by the finance department, which carries out tests of consistency with past valuations. As indicated above, the process of preparing and checking valuations has been improved to include measures such as an analysis of the value created over time. The Statutory Auditors and the finance department review the valuations with the sector teams. „ For the Apax France VIII-B, Apax France IX-B, Apax VIII LP and Apax IX LP funds: The finance department and Statutory Auditors rely on the reviews performed by the Statutory Auditors of those entities, as well as on interviews directly with the investment teams. Relationship between internal control procedures and risk factors This report does not aim to describe the procedures in detail. The description of the organisation and internal control principles is intended to provide an outline of how the Company’s internal control system functions. In2017, theCompanypursued internal control initiatives, continued to combat money laundering and the financing of terrorism and implemented new reporting software. It also conducted a complete review of the FATCA status of the Company and all of its investment holdings. In 2018, we will continue to implement corrective actions if we or our auditors identify weaknesses or omissions.

PREPARING FINANCIAL AND ACCOUNTING REPORTS FOR SHAREHOLDERS

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Systems and processes for preparing accounting and financial statements Since2014, two software tools havebeenused tomanage financial and accounting data: „ Sage 100Comptabilité, developedbySage andused for general accounting and payroll; „ Capital Venture 3 (CV3), developed by Klee Group to manage FPCI and Altamir securities, and to prepare financial and analytical statements. CV3 has been usedwith a CRM interface and outsourced hosting. All Altamir’s data since its inception have been migrated into the new software, and customised reports have been developed. The consolidated (IFRS) financial statements are generated using the statutory financial statements produced by Sage, but via Excel spreadsheets. A meticulous process is used to convert the statutory financial statements into consolidated financial statements and to carry out compliance analyses. The Company is still considering the purchase of software dedicated to the production of IFRS statements. All the systems have a significant user base. The accounting system is used in France, and CV3 is used throughout the world. They are well documented. The two transaction processing systems are used independently of eachother. The accountingdepartment uses SageComptabilité 100whereas fundadministrationusesCV3. As a result, information must be reconciled and checked during reporting. PCI, the firm in charge of second-level controls, regularly reviews compliance with procedures and updates themwhen necessary. The Audit Committee also plays a part in ensuring that established procedures are followed. Once it has completed its investigations, theAudit Committee addresses its comments and recommendations to the Supervisory Board.

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• ALTAMIR 2017

REGISTRATION DOCUMENT