Altamir - 2018 Registration document

3

Financial statements

Consolidated financial statements

NOTE 1 Entity presenting the financial statements

Altamir (the “Company”) is a Frenchpartnership limitedby shares governedbyArticles L. 226.1 toL. 226.14of theFrenchCommercial Code. Its principal activity is the acquisition of equity interests in other companies. The Company opted to become a société de capital risque (special tax status for certain private equity and other investment companies) as of financial year 1996.

The Company is domiciled in France. Altamir presents its consolidated financial statements including the Apax France VIII-B private equity fund, in which it holds a 99.90% stake, the Apax France IX-B private equity fund, inwhich it holds a 99% stake, and FinancièreHélios SASU, inwhich it holds a 100% stake.

NOTE 2 Basis of preparation

DECLARATION OF CONFORMITY

OPERATING CURRENCY AND PRESENTATION CURRENCY

2.1

2.3

Pursuant to European regulation 1606/2002 of 19 July 2002, the annual consolidated financial statements of Altamir as of 31 December 2018 have been prepared in compliance with IAS/IFRS international accounting standards as adopted by the European Union and available on its website at: https:// ec.europa.eu/info/business-economy-euro/companyreporting- and-auditing/company-reporting/financial-reporting_en#ifrs- financial-statements The accounting rules andmethods applied to the annual financial statements are identical to thoseused toprepare the consolidated financial statements for the financial year ended 31 December 2017 inasmuch as the new IFRSs (standards, amendments, or IFRIC interpretations) that became applicable on 1 January 2018 did not have an impact on the Group’s consolidated financial statements. These consolidated financial statements cover the financial year from 1 January to 31 December 2018. They were approved by the Management Company on 7 March 2019. The consolidated financial statements are preparedon a fair value basis for the following items: n financial instruments for which the Company has chosen the “fair value through profit or loss” option, pursuant to the provisions of IAS 39 (by application of the fair value option) and IAS 28 for “venture capital organisations” whose purpose is to hold a portfolio of securities with a view to selling them in the short or medium term; n derivative financial instruments; n carried interest attributable to the general partner and Class B shareholders; and n carried interest attributable to the portfolio fund managers. The methods used to measure fair value are discussed in note 4. 2.2 VALUATION BASES

The consolidated (IFRS) financial statements are presented in euros, which is the Company’s operating currency.

USE OF ESTIMATES AND JUDGEMENTS

2.4

The preparation of financial statements under IFRS requires management to formulate judgements and to use estimates and assumptions that may affect the application of accounting methods and the amounts of assets, liabilities, income and expenses. Actual values may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. The impact of changes in accounting estimates is accounted for during the period of the change and in all subsequent periods affected. More specifically, information about the principal sources of uncertainty regarding the estimates and judgements made in applying the accounting methods that have the most significant impact on the amounts recognised in the financial statements is described in note 4 on the determination of fair value.

KEY ASSUMPTIONS

2.5

Continuity of operations is based on key assumptions including the availability of sufficient cash flowuntil 31 December 2019. The Company has credit lines totalling€60m, whichweredrawndown by €33.3m as of 31 December 2018. It also has cash equivalents of €3.9m and €19.6m of other financial assets that it considers as cash.

112 Registration document ALTAMIR 2018

www.altamir.fr