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Altitude Partners introduces its Business Property Relief

and Investor Relief qualifying regional private equity fund

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Robert Burns Wells Fargo Advisors, LLC, member SIPC 315 Hawthorne Ln Athens, GA 30606 (800)
432-6666

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Altitude Two, a capital growth focused private equity fund, has been created to benefit investors
with investments qualifying for two significant HMRC reliefs: Business Property Relief and Investor
Relief. The fund is rapidly approaching its first close target. Overall, the fund is looking to deliver a
final close of 20m by the end of the year.

Altitude Two follows the principles of Altitudes first fund with a geographical focus on the south, and
a unique investment model into the equity gap. The professionally managed fund benefits from the
rigour and focus provided by an advisory panel that includes Michael Joseph, previously MD of
Lloyds Development Capital, and Angela Lane, previously a partner of 3i Plc ensuring thorough pre-
investment transaction appraisal and corporate governance.

Altitude Two

With a clear strategy on providing a private equity fund for high net worth individuals, the second
fund has been developed so investments can qualify for two beneficial reliefs, Business Property
Relief (BPR) and Investor Relief (IR). The investments made through this new fund qualify for BPR*
after two years and are therefore not subject to Inheritance Tax charges. Equally investments should
also qualify for IR upon disposal of the shares resulting in a 10% capital gain rate under current
legislation and subject to an investors own lifetime personal allowance of 10m.

Formed in 2011 Altitude Partners is a South of England focused private equity business established
by Simon White, previously the founding partner of BDO Stoy Hayward Corporate Finance in the
South and Jonathan Simm, the former regional head for the south at LDC. More recently, Andrew
Syvret joined from Santander Corporate Bank to support fund raising and deal origination.

Simon White, Partner & Co-Founder states, The main interest from private investors focus on the
themes of credibility and investment return. Altitudes investment approach and the professional
track records of its partners support those requirements.
In structuring Altitude Two we were very aware that we needed to provide an attractive investment
proposition for the high net worth investor market that has strong regulation, credibility and
performance. The rate of uptake on our recently announced fund is a resounding affirmation that we
have achieved this balance.

Our investors have confidence in our approach and track record, and also understand our
commercial focus on growing businesses in the South of England. Equally I think that the unique
nature of a fund that combines the benefits of Business Property Relief and Investor Relief is
attractive to those looking to optimise returns.

Their first fund, Altitude One LP, was developed specifically to support growing businesses in
Southern England for buyouts, restructuring and growth opportunities. Investments from this fund
included Gradwell, a provider of VoIP and cloud-based services, which has recently been sold for a
gross return of 2.7x investment. It also includes James Tobias, a manufacturer of office storage walls
and media walls and more recently Moortec, a semiconductor Intellectual Property business which is
world leading in Performance Voltage and Temperature Sensing. This fund also supported The Care
Division, which was sold in 2015 producing an overall gross return of 2.9x investment.

Jonathan Simm, Partner & Co-founder at Altitude, also comments: Simon and I have refined and
developed our approach over the past seven years. We have, with both funds, raised private equity
money that really helps SMEs in the South looking for supportive investment partners. We are in a
private equity space few other providers are able to support which, alongside our local knowledge
and operational experience, makes Altitude the partner of choice for growth businesses.

The new fund is open to new investors for a limited period before the final close. It will seek
investments of 1m - 4m in development and MBO situations for established South of England-based
companies with a minimum 2m turnover, led by ambitious leadership teams. The fund will target a
minimum 25% gross IRR return and a minimum 2x net cash return to investors. Fund Two is
currently in discussion with five potential transactions in the region.

* NOTE:

Shares held in unlisted Trading Companies are eligible for Business Property Relief (BPR) when held
for two years and BPR relieves 100% of the value in your estate.

Investor Relief is a new relief for share acquisition of unquoted trading companies made after 6th
April 2016. This results in investors having a 10% Capital Gains Tax rate on disposal of the shares up
to a 10m lifetime personal allowance.

Altitude Two offers the prospect of strong capital growth with low Capital Gains Tax rate outside the
Inheritance Tax regime. Both reliefs are applicable with or without each other.

This reflects the correct tax legislation at the date of this press release, which, like all tax legislation
is subject to change.

Ends

For more information on Altitude Partners, please contact Jonathan Simm, Simon White or, Andrew
Syvret on 023 8000 2030

Email jsimm@altitudepartners.co.uk or swhite@altitudepartners.co.uk or


asyvret@altitudepartners.co.uk

Website; www.altitudepartners.co.uk

Notes to editors

Altitude Partners LLP is authorised and regulated by the Financial Conduct Authority.Altitude
Partners provides a structure for High Net Worth Investors and family offices who are seeking a
managed portfolio approach to direct private equity investment. Altitude, unlike investment clubs,
act as an institutional investor delivering structured funding in realistic timescales and working with
the companies to build value after the transaction. Altitude Partners will invest between 1m and
4million into established growing businesses with ambitious and innovative management teams
looking for organic growth, buyout or acquisition support.The Partners and Advisory Panel of
Altitude Partners have collective private equity investment and portfolio experience in excess of 80
years.

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