APAX_ANNUAL_REPORT_2017

Interview with Eddie Misrahi CEO

In 2017, Apax Partners once again demonstrated its ability to create value in its portfolio.

Performance We invested €317m in three new companies and follow-on investments in existing portfolio companies; we received €280m in proceeds. Positive activity In 2017, our portfolio companies again demonstrated their ability to create value: their revenue grew on average by 16% and their EBITDA by 18%, and we carried out 19 build-ups. Seven of the nine mid-sized companies in our portfolio ranked among the 150 that outperformed in France, and four of them were in the top ten. European expansion 2018 is set to be just as active as 2017. Our next challenges are to complete the Development activity’s first fundraising and continue to grow in Europe. After recruiting a new Senior Advisor for the Benelux countries, we have our sights set on Italy and the opening of our new office in Milan and the recruitment of a senior advisor.

€317 m INVESTED +16% REVENUE GROWTH +18% EBITDA GROWTH

“2017 was an especially active year”

2017 FIRM OF THE YEAR IN FRANCE

In March 2018, Apax Partners received the Private Equity International Award 2017 “Firm of the year in France”. Organised since 2001, the prize is awarded by Private Equity professionals based on a list of nominees selected by the PEI revue.

Full video interview available on Apax Talks www.apax.fr/en/apaxtalks/

2 I APAX PARTNERS I Annual report 2017

Annual report 2017 I APAX PARTNERS I 3