Apax Global Alpha Regulatory News (APAX)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR WITHIN THE UNITED STATES OR TO "US PERSONS" (AS DEFINED IN REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT")) OR INTO OR WITHIN AUSTRALIA, CANADA, SOUTH AFRICA OR JAPAN. RECIPIENTS OF THIS ANNOUNCEMENT IN JURISDICTIONS OUTSIDE THE UK SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY APPLICABLE LEGAL REQUIREMENTS IN THEIR JURISDICTIONS. IN PARTICULAR, THE DISTRIBUTION OF THE ANNOUNCEMENT MAY BE RESTRICTED BY LAW IN CERTAIN JURISDICTIONS.

Note that any references in this announcement to Apax Global Alpha Limited have been abbreviated to "AGA" or "the Company". Any references to Apax Partners LLP have been abbreviated to "Apax Partners" or "the Investment Adviser".

FOR IMMEDIATE RELEASE

5 February 2016

APAX GLOBAL ALPHA LIMITED

Proposed commitment to Apax IX and amendment and extension of Revolving Credit Facility

AGA is pleased to announce that it has agreed an amendment and restatement of the multicurrency revolving credit facility agreement with Lloyds Bank plc dated 30 January 2015 (the "Amended and Restated Revolving Credit Facility") described in the prospectus of the Company dated 22 May 2015. The Amended and Restated Revolving Credit Facility increases the funds available from €90 million to €140 million, with an extension to the maturity date to 3 years from 4 February 2016. The margin in the Amended and Restated Revolving Credit Facility has also increased from 200 bps to 210 bps (over Euribor or Libor depending on the currency drawn).

The Amended and Restated Revolving Credit Facility will be used in accordance with the Company's investment policy to finance or refinance its general corporate purposes, including financing short-term investments such as the draw down on commitments to Apax Funds.

AGA also wishes to announce that the Board intends to commit $350 million to the Apax IX private equity fund ("Apax IX") as part of the initial close of Apax IX. This commitment is expected to be split 50:50 between the Euro and USD tranches of the fund. This is in accordance with the Company's investment policy to invest in new private equity funds launched by Apax Partners and with a view to maintaining a balanced exposure to Private Equity and Derived Investments. This commitment remains conditional on, inter alia, the approval and execution of the relevant legal documentation.

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About Apax Global Alpha Limited

AGA is a company limited by shares which has been incorporated in Guernsey and is supervised by the Guernsey Financial Services Commission as a registered closed-ended investment scheme, the ordinary shares of which were listed on the Premium segment of the Main Market, the market of that name operated by the London Stock Exchange, on 15 June 2015.

AGA's objective is to provide shareholders with capital appreciation from its investment portfolio and regular dividends. The Company is targeting an annualised Total Shareholder Return (TSR), across economic cycles, of 12-15% (net of fees and expenses) including a dividend yield of 5% of Net Asset Value (NAV), once fully invested.

The investment policy of the Company is to make private equity investments in Apax Funds and Derived Investments which are investments in equities and debt derived from the insights gained via Apax Partners' Private Equity activities. The Company's portfolio is expected to be allocated in approximately equal proportions between Private Equity and Derived Investments, although the investment mix will fluctuate over time due to market conditions, investments opportunities, cash flow requirements, the dividend policy and other factors.

Further information regarding the Company and its publications are available on the Company's website at www.apaxglobalalpha.com

About Apax Partners LLP

Apax Partners is a leading global private equity advisory firm. It operates globally and has more than 30 years of investing experience. Apax Partners has advised funds that total over €34 billion in aggregate as at 31 December 2015. Funds advised by Apax Partners invest in companies across four global sectors of Technology & Telecoms, Services, Healthcare and Consumer. These funds provide long‐term equity financing to build and strengthen world‐class companies. For further information about Apax Partners, please visit www.apax.com.

Apax Partners LLP is authorised and regulated by the Financial Conduct Authority in the UK.