Altamir - 2018 Registration document

Supplementary information

Glossary

5.6 GLOSSARY

NET ASSET VALUE (NAV) Net Asset Value is the most relevant financial indicator for reviewing the Company’s business activity. It corresponds to shareholder’s equity, calculated in accordance with IFRS for consolidated financial statements, i.e. the total value of assets less liabilities. It is calculated by valuing investments based on International Private Equity Valuation (IPEV) guidelines. NAV includes unrealised capital gains and losses. NAV PER SHARE NAV per share is the value of one ordinary share of the Company’s shareholder’s equity, calculated in accordance with IFRS for consolidated financial statements. It is calculated by dividing the Company’s shareholder’s equity by the total number of ordinary shares outstanding. NAV per share is stated net of the amount attributable to the general partner and to the holders of Class B shares, as well as the carried interest provisions for the funds in which the company invests. CLASS B SHARES Class B shares are preferred shares allocated to members of the Apax fund management team which entitle the holder to a share in the Company’s performance, called carried interest. ORDINARY SHARES Shares conferring the same rights (voting, preferential subscription, dividends, etc.) to all holders, in proportion to the amount of equity held. BUILD-UP Acquisition carried out by a company taken over through an LBO. It is intended to create a larger, more profitable group by creating synergies, and one with a higher valuation for its shareholders when it is subsequently sold. BUSINESS PLAN The Company’s strategic development plan for three to five years, with a detailed action plan for marketing, competition, products, techniques, production methods, investments, manpower, IT, financing, etc. GROWTH CAPITAL Growth capital is a segment of private equity (like acquisition/LBO transactions) aimed at financing companies that have achieved a significant size and are profitable. The equity investment, usually aminority interest, is intended to finance the growth of the company. PRIVATE EQUITY Acquiring an ownership interest in companies that are generally not listed. Private equity provides vital support for an unlisted company throughout its existence. It finances the start-up (venture capital), growth (growth capital), and acquisition/LBO phases in the life of the company. CLOSING Final step of a transaction, with the signing by all participants (company officers and financial investors) of the legal documentation (including any shareholders’ agreements) and disbursement of funds. CARRIED INTEREST Share of profit fromperformance returned to the fundmanagement company, calculated on the basis of a private equity fund’s income and capital gains (usually 20%). In Altamir’s case, carried interest is equal to 20% of net gains as per the Articles of Association, allocated as follows: 2% is allocated to the general partner, and 18% to the Class B shareholders, who are the members of the management team. Since Altamir’s inception, carried interest has been calculated based on adjusted statutory net income. This result includes realised capital gains and unrealised capital losses (impairment of securities) but does not include unrealised capital gains, contrary to IFRS income, which is used to determine Net Asset Value (NAV). WARRANTS A warrant issued by a company gives the right to subscribe to new shares of the company.

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ALTAMIR 2018

Registration document