The views expressed in this publication reflect the current views of Apax Partners LLP (together with its affiliates, "Apax") as of the date hereof and Apax undertakes no
responsibility to advise you of any changes in the views expressed herein.
This publication is not intended to be, and must not be taken as, the basis for any investment decision by any recipient. No offer or solicitation of an offer in respect of any
Apax fund is being made by Apax by communication of this publication and no reliance should be placed upon this publication by any person, nor should it act as an inducement to
enter into any investment activity.
This publication discusses broad market, industry or sector trends, or other economic, market or political conditions, and may refer to securities of companies in which certain
Apax funds may be invested, or in respect of which Apax may seek to or have provided services (or receive services from). No representation or warranty, either express or implied,
is provided in relation to the accuracy, adequacy or completeness of the information contained herein. None of the information herein has been independently verified and neither
Apax nor any other person accepts responsibility for the publication.
Past performance referred to herein is not indicative of future results and there is no assurance that any Apax fund will achieve its objectives or avoid significant losses. This
publication may contain forward looking statements, including in relation to the financial condition, results of operations and businesses of companies referred to herein; any such
statements are subject to various assumptions, risks and uncertainties, many of which are difficult to predict.
Recipient should not treat the contents of this publication as research or advice relating to legal, taxation, ERISA, financial, investment or accounting matters, or as a
recommendation by Apax and are strongly advised to consult their own professional advisers concerning their own circumstances, or in relation to any investment concepts mentioned
in this publication (which may be unsuitable for the recipient depending on their specific investment objectives and financial position).