LOOKING AHEAD TO 2018: MANY REASONS TO STAY POSITIVE

2017 was the first full year of trading for APQ Global, following our successful IPO in August 2016. We are delighted to be able to look back and say we delivered on our income and capital gains goals in the first full year, paying four dividends and putting ourselves on target for a 6 percent dividend yield in 2017. We would like to thank our Board of Directors and management team, who worked hard to make this happen.

In addition, we achieved an increase in our USD book value of 4.6 percent and a total return of 9.9 percent in US Dollar terms, our functional currency

Over the past year we have also achieved other important milestones in our company’s growth. In September, we successfully issued a seven-year convertible bond with a coupon of 3.5% denominated in Pound Sterling. We are grateful to our new bond holders and look forward to working with them in the years ahead. We have also significantly expanded our International Advisory Council and have gained very valuable expertise in specific geographies and sectors. We welcome all our new members and look forward to working with all of you in 2018.