Altamir - 2018 Registration document

1

Business description and activities

Presentation of the Company

1.2 PRESENTATION OF THE COMPANY

1.2.1 GENERAL PRESENTATION

INVESTMENT POLICY

Before 2011, Altamir co-invested alongside the funds managed by Apax Partners SA (1) , and still holds three investments in its portfolio from that legacy business. Since 2011, Altamir has both invested in funds managed by Apax Partners and co-invested alongside these same funds: n investment in funds managed by Apax Partners SAS, Paris: n €277m in Apax France VIII, n €306m committed to Apax France IX, n €15m committed to Apax Development; n investment in funds managed by Apax Partners LLP, London: n €60m in Apax VIII LP,

PROFILE

Altamir is a listed private equity company (Euronext Paris, Compartment B) with assets under management of close to €1bn. The Company was founded in 1995 to enable all investors to gain access via the stock market to private equity, one of the best-performing asset classes over the long term. Altamir invests exclusively in or alongside the funds managed or advised by Apax Partners SAS and Apax Partners LLP, two leading private equity firms withmore than 40 years of investing experience. As a majority or lead shareholder, the Apax funds carry out LBO and growth capital transactions and support corporate executives as they implement ambitious value-creation objectives. In this way, Altamir offers investors access to a portfolio of companies with high-growth potential, diversified by geography and by size across the four sectors in which Apax specialises: TMT (Technologies-Media-Telecom), Consumer, Healthcare and Services. The Company opted at inception for the status of “SCR” (société de capital risque) and has maintained this status ever since. As such, Altamir is exempt fromcorporation tax and the Company’s investors may benefit from tax exemptions, subject to specific holding-period and dividend-reinvestment conditions. Altamir is not an alternative investment fund (AIF) subject to the exemption for holding companies mentioned in para. 7 of V of Article L. 532-9 of the French Monetary and Financial Code. This does not presume, however, that the European or other competent authoritiesmight not in future take a contraryposition. To create value for shareholders over the long term, Altamir pursues the following objectives: n increaseNet Asset Value per share (NAV) by outperforming the benchmark indices (LPX Europe, CAC Mid & Small); n maintain a simple, attractive, and sustainable dividend policy; n reach a critical size of €1bn in assets under management in order to: n be a keypartner of ApaxPartners SASandApaxPartners LLP, n increase the liquidity of Altamir shares, thus attracting a broader universe of investors and reducing the share price to NAV discount. OBJECTIVES

n €138m committed to Apax IX LP, n $5m committed to Apax Digital; n co-investment: €62m in five investments.

In the future, Altamir will maintain its partnership with Apax Partners but the company’s investment strategymight change in order to seize investment opportunities inpromisingmarkets such asAsia or inmarket segmentswhose investment horizon exceeds the customary duration (7–10 years) of private equity funds.

INVESTMENT STRATEGY

Altamir’s strategy is clear, differentiated and proven. It relies on that of Apax Partners, which consists in: n investing in growth companies , diversified in terms of size and geography: n medium-sizedand small capcompanies inEurope (enterprise values of €50m to €500m), n larger companies (enterprise values of €500m to €3bn) in Europe, North America and emerging markets (China, India and Brazil); n investing only in Apax’s four sectors of specialisation (TMT, Consumer, Healthcare, Services); n carrying out LBO/growth capital investments; n establishing positions as majority or lead shareholder; n creating value, aiming for a multiple of two to three times the amount invested; n carrying out responsible investments, measuring the ESG (Environment, Social, Governance) performance of each investment.

(1) Apax Partners SA was renamed Amboise Partners SA on 1 January 2018.

18 Registration document ALTAMIR 2018

www.altamir.fr