Altamir

Earnings Release • Aug 29, 2014

• THOM Europe: EBITDA growth of 4% (over six months at 31^st March 2014) despite a challenging market. Five new stores were opened or bought during the period, and thirty additional stores were acquired in August. On 18^th July, the company refinanced its debt by issuing a high yield bond, for a total of €345m.
• Investment portfolio held via the Apax VIII LP Fund: five of the companies Cole Haan, Garda, GlobalLogic, One Call and Rhiag - have performed well. The performance of rue21 has been below expectations. The overall value of the portfolio increased by 17.2% during the first half of 2014.

Altamir portfolio and cash position

As of 30 June 2014, Altamir's portfolio held 22 companies, with a total IFRS value of €511.0m. The portfolio included 18 unlisted holdings accounting for 64% of portfolio value, and 4 listed holdings accounting for 36% of the total.

The top 10 investments accounted for 87% of total portfolio value at the end of the reporting period (versus 82% at year-end 2013). In descending order, these are: Infopro, Altran, Albioma, GFI, THOM Europe, Groupe Inseec, Snacks Développement, Capio, Amplitude and Texa.

The company's cash position was $\epsilon$ 88.4m at 30 June 2014 (compared to $\epsilon$ 82.1m at year-end 2013). Outstanding commitments totalled €175m as of mid-year.

For the period from 1 August 2014 to 31 January 2015, the Management Company will maintain Altamir's share of any new investment made by Apax France VIII at the upper end of the commitment range ( $\epsilon$ 280m), i.e. 40% of any new commitment undertaken by the Apax France VIII Fund.

Events after 30 June 2014

• The acquisition of SK FireSafety Group by the Apax France VIII Fund closed on 16th July 2014.
• At the end of July, Altamir recovered €16.0m, equivalent to 40% of its initial investment in THOM Europe, following the refinancing of that company's debt via a high yield placement.
• In July and August of 2014, funds advised by Apax Partners LLP signed commitments to acquire three new portfolio companies, as follows:
• o A stake in China Huarong Asset Management Company Ltd, one of the largest stateowned non-performing-loan asset management companies in China;
• A stake in Cholamandalam Investment and Finance Company Limited ("Chola"), a $\circ$ leading listed Indian Non-banking Financial Company;
• o Answers Corporation, the parent company of Answers.com, a leading American provider of cloud-based solutions that enhance customer acquisition and brand engagement.

These acquisitions are expected to be finalized during the fourth quarter of 2014.

Altamir's 2014 half-year financial report is available on the company's website, www.altamir.fr

Next publication

14 November 2014 NAV at 30 September 2014

About Altamir

Altamir is a listed private equity company with more than €500 million in assets under management. The objective of Altamir is to grow its net asset value (NAV) per share and to outperform the most relevant indices (CAC Mid & Small, and LPX Europe).

Altamir invests via the funds managed by Apax Partners France, a leading private equity firm in French-speaking Europe, and via Apax Partners LLP, one of the world's leading private equity investment groups. Both firms target buyout and growth capital investments in which they are majority shareholders or lead investors, and help management teams to implement ambitious value creation plans.

Altamir provides access to a diversified portfolio of fast-growing companies across Apax's sectors of specialization: Technology, Telecom, Media, Retail, Healthcare and Services. The portfolio is also diversified by size and geography: mid-sized companies in French-speaking European countries; and larger companies across Europe, North America and key emerging markets (China, India, Brazil).

Altamir is listed, since its inception in 1995, on the NYSE Euronext Paris exchange, Compartment B, ticker: LTA, ISIN code: FR0000053837. It is listed on the CAC Small, CAC Mid & Small, CAC All-Tradable and LPX Europe indices, among others. The total number of Altamir ordinary shares in circulation at 30 June 2014 was 36,512,301. For further information, please visit www.altamir.fr.

Contact Raquel Lizarraga Tél.: +33 1 53 65 01 33 E-mail: raquel.lizarraga@altamir.fr