Altamir - Registration Document 2016

3

FINANCIAL STATEMENTS

Consolidated financial statements

NOTE 27 Contingent liabilities

The contingent liabilities of the Company broke down as follows:

31/12/2016

31/12/2015 15,910,448

(in euros)

Irrevocable purchase obligations (investment commitments) Other long-term obligations (liability guarantees and other)

172,514

6,184,051

6,184,051

TOTAL

6,356,565 16,877,068

22,094,499 91,363,175 7,409,145 17,000,000

Altamir’s investment commitments in Apax France VIII-B Altamir’s investment commitments in Apax VIII LP Altamir’s investment commitments in Apax France IX-B Altamir’s investment commitments in Apax IX LP

0

295,950,000 138,000,000 457,183,633

0

TOTAL

137,866,819

€4.05m. The amount actually investedwas €64.5m. The fund did not call this amount; it was funded by credit lines. The table above does not include distributions paid by the Apax VIII LP and Apax France VIII-B funds, which can legally be called back by the management company to meet the funds’ cash requirements, principally for follow-on investments in their portfolios. The investment period of these two funds has now expired and they cannot make any new investments. For information, the sums distributed that can legally be called back amount to €29.6m for Apax France VIII-B and €5.1m for Apax VIII LP. As part of the divestment of Buy Way, Altamir provided a guarantee, capped at 15%of the sale price, i.e. €6,184,051, in order to meet any third-party claims, and to cover the sellers’ filings and any tax risks.

The tables above show the subscription commitments not yet called as of 31 December 2016 and 31 December 2015. Altamir committed to invest €60m in Apax VIII LP. As of 31 December 2016, the total amount had been invested. Altamir had committed to invest between €200m and €280m in Apax France VIII-B. Altamir’s definitive commitment is €276.7m. As of 31 December 2016, the amount invested was €259.8m. Altamir has committed to invest €138m in Apax IX LP. As of 31 December 2016, no investment had been made. Two investments have now been made by this fund: €2.5m was invested in Dominion Marine Media in 2016, although the capital has not yet been called; and approximately €9mwas invested in Unilabs II in February 2017. Altamir has committed to invest between €220m and €300m in Apax France IX-B. As of 31 December 2016, the amount calledwas

27.1 DIRECT INVESTMENT COMMITMENTS

Cancellation of commitments as of 31/12/16

Commitments as of 31/12/2015

New commitments as of 31/12/16

Investments during the year

Commitments as of 31/12/16

Companies

Listed securities Investment commitment in Altimus Unlisted securities Investment commitment in Marlink

172,514

15,910,448

15,910,448

TOTAL

15,910,448 15,910,448

0 172,514

0

124 REGISTRATION DOCUMENT 1 ALTAMIR 2016

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