ALTAMIR_REGISTRATION_DOCUMENT_2017

CORPORATE GOVERNANCE – REPORT OF THE SUPERVISORY BOARD Management and supervisory bodies

„ it monitors the Statutory Auditors’ assignment and takes into account any observations and conclusions made by the High Council of Statutory Auditors after the controls carried out pursuant to Articles L. 821-9 et seq . of the French Commercial Code; „ it ensures that the Statutory Auditor meets the conditions for independence; „ it approves the provision of any services other than the certification of financial statements, provided that the services are not prohibited by regulations; „ it informs the Board regularly on its activities. It also reports on the results the financial statement certification process, on how this assignment contributed to the integrity of the financial information, and on the role the Committee played in the process. It informs the Board immediately of any problems encountered. Organisation and operating procedures of the Audit Committee In 2017, the Audit Committee met four times to verify the Company’s financial statements and review the internal control procedures implemented by the Management Company. The attendance rate at these meetings was 100%. In fulfilment of its duties, which primarily consisted of reviewing the statutory and consolidated financial statements, analytical cost reports, portfolio Company valuations and management report, the Audit Committee met with the Statutory Auditors and Finance Department at the end of each quarterly financial reporting period. It also met with PCI, the Company performing internal control on behalf of Apax Partners SAS and Amboise Partners SA. The Audit Committee examined two subjects more closely at its 4 September and 7 November meetings: (i) investment valuation methods, and (ii) calculation of the ratio the Company must adhere to as a private equity Company ( société de capital risque , or SCR). The Audit Committee’s work covered each of the items listed in Article L. 823-19 of the French Commercial Code and the 22 July 2010 report of theAMFworkinggroupchairedbyOlivier Poupart- Lafarge. This entailed overseeing: „ the procedure for preparing financial information, with particular attention to the valuation of portfolio companies; „ the effectiveness of the internal control and risk management systems; „ the audit of statutory and consolidated financial statements by the StatutoryAuditors, by periodically interviewing auditors on their work, in particular with regard to their audit of security valuations; „ the independence of the Statutory Auditors and the process which resulted in the appointment of RSM Paris. This appointment amounts to a renewel of Corevise, as Corevise had merged with another accounting firm to form RSM Paris. The Committee systematically reviewed: „ statutory financial statements; „ IFRS financial statements; „ analytic dashboards;

„ valuation rules; „ monitoringof theperformanceof portfoliocompanies (EBITDA, debt) as the underpinning for their valuation using peer-group multiples; „ the correct application of internal control procedures by AmboisePartners SA for the portionof its business activity that consists of providing investment advisory services to Altamir. The Committee regularly reported its findings to the Supervisory Board. Although the Supervisory Board met shortly after the Audit Committee, the latter considers that the allotted time for examination of the financial statements was sufficient, given that some members live abroad. In 2018, the Audit Committee will continue to meet each quarter before the accounts are closed for that period. It will take all assignmentsmentioned in laws and regulations into account. The Audit Committee can request: „ a presentationby the StatutoryAuditors of the complementary report to the Audit Committee; this new report includes the main characteristics of theAuditors’ work and the key points of (i) the results of the legal audit and (ii) the accounting options chosen; „ a presentation by the CFO on the Company’s financial results, risks and significant off-balance-sheet commitments; „ informationon the selectionprocedure used to renewthe terms of the Statutory Auditors; „ meetings with the Statutory Auditors, CFO and head of accounting, „ meetings with internal audit and risk control managers; „ advice from external experts. Altamir’s SupervisoryBoardhas decided tomeet as aNomination and Remuneration Committee at least once a year to examine issues related to the remuneration of theManagement Company and the members of the Board, and to the composition of the Board and the Audit Committee. Organisation and operating procedures of the Nomination and Remuneration Committee The Supervisory Board met three times in 2017 as a Nomination and Remuneration Committee. The attendance rate at these meetings was 98%: Jean Besson 100% Sophie Etchandy-Stabile 86% Marleen Groen 100% Gérard Hascoët 100% Jean-Hugues Loyez 100% Philippe Santini 100% NOMINATION AND REMUNERATION COMMITTEE

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• ALTAMIR 2017

REGISTRATION DOCUMENT