Altamir - 2018 Registration document

Financial statements

Consolidated financial statements

25.2 LIABILITY GUARANTEES AND OTHER COMMITMENTS

A commitment was given to certain managers of THOM Europe, Snacks Développement, Ciprés, Melita, InfoVista and AEB to repurchase their shares and bonds in the event of their departure. These commitments were not material as of 31 December 2018. TheApaxFrance IX-B fundgave a securitydeposit toTransatlantic Bank as part of the investment in Sandaya relating to the funding of future acquisitions. An earn-out could be due to the seller of Marlink based on the multiple achieved by the Apax France VIII-B and Apax France IX-B funds when the company is sold. Pledged securities: n Securities pledged to Transatlantique Bank: As of 31 December 2018, 1,111,111,112 A units in the Apax France VIII-B fund were pledgedagainst acredit lineof €8m, undrawnasof 31December 2018. Thepledgedsecurities cover 150%of theamountsgranted based on the valuation of the units in the Apax France VIII-B fund as of 31 December 2016. n Securities pledged to LCL Bank (banking pool with LCL, BNP, Neuflize OBC, HSBC and Palatine Bank): As of 31 December 2018, 6,141,732,283 A units in the Apax France VIII-B fund and one A unit in the Apax France IX-B fund were pledged to the banking pool against a credit line of €52m, drawn down by €33.3m as of 31 December 2018. The pledged securities cover 150% of the amounts granted based on the valuation of the units in the Apax France VIII-B fund as of 31 December 2016. n Securities pledged toABNAMRO: With respect to a credit line, the Apax France VIII-B fund has pledged all of the financial instruments of Amplitude that it holds to ABN AMRO.

Liability guarantees / Other accrued income None

Other off-balance-sheet commitments Altamir carries out LBO transactions via special-purpose acquisition companies (SPACs). If the underlying target company is listed, the debt is guaranteed by all or part of that company’s assets. When the share price of these companies falls, and the average share price over a given period drops below a certain threshold, the SPACs become responsible for meeting collateral or margin calls. This involves putting cash in escrow in addition to the collateralised securities so as to maintain the same collateral-to-loan ratio (“collateral top-up clause”). In the event of default, banks may demand repayment of all or part of the loan. This collateral is furnished by the shareholders of the SPACs, including Altamir, in proportion to their share in the capital. They have no impact on Altamir’s revenue andNAV (listed companies are valued on the last trading dayof theperiod), but can tie uppart of its cash. Conversely, when the share price of these companies rises, all or part of the balance in escrow is released, and the calls repaid. In terms of sensitivity, a 10% or 20% drop in the average market prices of these listed securities compared to the calculation performed on 31 December 2018 would trigger a collateral call for Altamir of €2m or €6.2m, respectively.

3

3.1.7 AUDITORS’ FEES

Pursuant to Decree No. 2008-1487 of 20 December 2008, fees paid to the statutory auditors broke down as follows:

Ernst & Young and other members of the Ernst & Young network

RSM

Amount excl. taxes

%

Amount excl. taxes

%

2018

2017

2018

2017

2018

2017

2018

2017

(in €)

Audit Audit, certification and examination of the statutory and consolidated financial statements Issuer Fully consolidated subsidiaries Other duties and services directly related to the audit assignment Issuer Fully consolidated subsidiaries SUBTOTAL Other services performed by the networks for the fully consolidated subsidiaries Legal, tax, employee-related Other

109,600 102,600

60 % 54 % 74,400 87,400

40 % 46 %

20,923

22,118

100 % 100 %

130,523 124,718

64 % 59 % 74,400 87,400 36 % 41 %

10,000 15,000 100 % 100 %

SUBTOTAL TOTAL

140,523 139,718

65 % 62 % 74,400 87,400 35 % 38 %

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ALTAMIR 2018

Registration document