QUARTERLY REPORT Q4-16

Advanzia Bank S.A.

9, rue Gabriel Lippmann

Parc d’Activité Syrdall 2

L-5365 Munsbach (Luxembourg)

Registre de Commerce

et des Sociétés Luxembourg:

B109476

Tel.: +352 263 875 1

Fax: +352 263 875 699

E-mail: advanzia@advanzia.com

BIC (SWIFT): ADVZLULL

www.advanzia.com www.gebuhrenfrei.com www.advanziakonto.com www.cartezero.fr www.free.at

Quarterly Report

For the Quarter ended 31 December 2016

Advanzia Bank S.A. Simplicity, Transparency and Trust

Advanzia Bank S.A. Quarterly Report Q4-16 2

Jeppe Hein, Path of Silence, 2016 Kistefos Museum, Norway @ Courtesy of the Kistefos Museum. Photo: Kistefos Museum / Hege E. Johnsen Polished stainless steel, giant stones from the forests of the Kistefos, Norwegian slates, Siberian maple, Norwegian moss and flora. Jeppe Hein’s art puts people at the center. His artistic expression is located at the intersection of conceptual art, architecture and technology. Yet it is the meeting between man and art, or man in the encounter with himself that Hein is most occupying of. Jeppe Hein was born in Denmark in 1974 and lives and works in Berlin. He is represented by a number of key public and private collections, including museums such as the Tate Gallery, London UK, MNAM-Centre Pompidou, Paris, France and MOCA, Museum of Contemporary Art, Los Angeles, USA.

Advanzia Bank S.A. Quarterly Report Q4-16 3

The Advanzia strategy is to create long-term value by aggressively increasing the number of customers

and the loan balance. The plan requires substantial investments in customer acquisition that will yield in

the short-term a lower growth in profits as it takes 2 to 3 quarters before new clients start to make a

positive contribution and up to three years before total investments are recouped.

Highlights: For the Quarter ended 31 December 2016

Gross credit card loan balance of MEUR 940, growth +4% QoQ and +22% YoY

614 000 active clients , growth +3% QoQ and +17% YoY

997 000 cards in force1, growth +3% QoQ and +20% YoY

Loan loss rate of 4.5% declined by 0.1%-points QoQ and 0.1%-points YoY

Customer acquisition cost of MEUR 5.1, +4% QoQ and +9% YoY

After-tax profit of MEUR 15.4,+78% QoQ and +29% YoY

Annualized return on equity of 63.0% vs. 37.9 % in Q3-16

In December, the BoD decided to pay an interim dividend of MEUR 9.2

Advanzia continues to show strong growth. The Bank recorded an increase of 22% in gross loan balance

and 29% in net profit compared to Q4-15. The progression of the loan balance is a consequence of

increased investments in customer acquisition over the last year which have increased by 35% from

MEUR 15.0 in 2015 to 20.2 in 2016. During the quarter, Advanzia has issued 42 200 new active cards and

193 700 during the full year 2016 which is 32% more than in 2015. The total number of active cards by

the end of 2016 amounts to 614 000. The loan loss rate continued to improve during the quarter. Net

profit in the quarter amounted to MEUR 15.4, the best performance recorded so far.

668 701 745 772 805 842 905 940

21% 20% 21% 22%

Q1 Q2 Q3 Q4

Credit card loan balanceMEUR, YoY

2015 2016 Gross loan balance (% growth, YoY)

25,1 26,8 28,7 30,030,6 32,4 34,4 35,8

22% 21% 20% 20%

5

10

15

20

25

30

35

40

Q1 Q2 Q3 Q4

Net interest incomeMEUR, YoY

2015 2016 Net interest margin (% growth, YoY)

Figure 1: YoY growth – loan balance and net interest margin.

CAGR (2010 - 2016)

2016 vs. 2015

Growth metricsLoans and advances to

credit card clientsProfit after tax

Active credit card

clients

22% 25% 36%

13%22%21% Figure 2: CAGR and YTD growth.

Since the end of 2010, Advanzia has delivered a CAGR of 36% in net profit, 25% in loan balance and 22% in number of active credit card clients.

1 It represents the number of issued cards including active and inactive cards.

Advanzia Bank S.A. Quarterly Report Q4-16 4

Loan balance development

605 630 662 705 732 763 798 858 890

37 38

39 40

41 43

44

47 49

642 668

701 745

772 805

842

905 940

3,4% 4,0%5,0%

6,3%

3,7% 4,3% 4,5%

7,5%

3,8%

Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16

Credit card loan balanceMEUR, QoQ

Net loan balance Impairments Gross loan balance (% growth)

Figure 3: Loan balance development.

Advanzia increased its total gross loan balance by 4% QoQ and 22% YoY. The impaired loan balance followed a similar development, demonstrating an effective risk management. The growth rate in the fourth quarter is lower following an expected seasonal pattern which can also be observed in the previous years.

Active clients/credit cards

433 450 468 488 509 534 564 598 614

65 67 69 72 74 78

82 87 92

3,1%4,0% 3,8% 4,2% 4,2%

4,9%5,5%

6,1%

3,2%

Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16

Number of active credit card clientsin 000's, QoQ

Non-delinquent

active clients

Delinquent active clients

(excl. monitoring)

Total active clients

(growth %, excl. monitoring) Figure 4: Credit card clients.

The number of active clients reached 614 300, a growth of 3% QoQ and 17% YoY. The total intake of active clients during the quarter amounted to 42 200, a decrease of 20% QoQ and stable YoY. Total new active cards intake during the full year 2016 was 32% higher than in 2015.

Key figures (000's)Actual

Q4-16

Actual

Q3-16

QoQ

growth

Actual

Q4-15

YoY

growth

Actual

YTD-16

Actual

YTD-15

YTD

growth

New active cards 42,2 52,9 -20% 42,1 0% 193,7 146,7 32%

Germany/Luxembourg 35,8 46,9 -24% 37,7 -5% 167,0 135,9 23%

France 1,7 2,2 -23% 2,6 -33% 9,8 9,0 9%

Austria 4,7 3,8 25% 1,8 160% 16,9 1,8 829%

Non delinquent active clients (total, after churn) 614,3 598,0 3% 525,2 17% 614,3 525,2 17%

Germany/Luxembourg 577,7 565,8 2% 504,3 15% 577,7 504,3 15%

France 21,1 20,8 1% 19,2 10% 21,1 19,2 10%

Austria 15,5 11,4 36% 1,8 755% 15,5 1,8 755%

Figure 5: Client/card statistics.

The lower intake (-24%) in Q4-16 compared to Q3-16 is a result of year-end being characterized by high acquisition spend from all players/competitors utilizing the online distribution channel in Germany. This

Advanzia Bank S.A. Quarterly Report Q4-16 5

resulted in a higher cost per active client in this particular market and thus a lower growth in number of active clients. On the other hand, the intake in Austria was 25% higher in Q4-16 compared to Q3-16.

As earlier reported, in France, Advanzia is expecting a slower growth trajectory in the short-term, reflecting challenges in that particular market to apply a similar strategy and marketing tools as in Germany and Austria. As a consequence of this, the Bank implemented a new strategy, temporarily reducing the focus on the B2C segment in favor of the B2B segment. Advanzia remains optimistic that success will be achieved with time in France.

Professional Card Services (PCS)

Key Figures, PCS clients Actual

Q4-16

Actual

Q3-16

QoQ

growth

Actual

Q4-15

YoY

growth

Actual

YTD-16

Actual

YTD-15

YTD

growth

Number of banks 18 15 20% 7 157% 18 7 157%

New active cards 139 88 58% 97 43% 588 572 3%

Total cards (opened) 1.131 1.019 11% 641 76% 1.131 641 76%

Turnover (in MEUR) 5,2 4,3 21% 2,2 132% 15,1 5,9 158% Figure 6: Professional Card Services.

Three new partner banks joined the Professional Card Services (PCS) programme during Q4-16. Advanzia has at the end of 2016, 18 partner banks, an increase of 11 banks through 2016. Turnover has increased by 158% in the same period. Advanzia is actively working with several new prospects and continues to develop the offering.

Deposit accounts

As the Bank is well funded, it decided to reduce its standard rate from 0.70% effective interest rate p.a. to 0.50% effective p.a. in December.

Advanzia aligns the deposits to the prevailing liquidity requirements to efficiently fund the growing loan balance. Total deposits amount to MEUR 1 102 and the number of active depositors is 30 500 per end December 2016.

25 25 26 26 27 28 2830 31

1,9%2,7%

0,5% 0,5%

3,4%

4,8%

-0,2%

6,6%

2,9%

Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16

Number of active depositorsin 000's, QoQ

Depositors Depositors (% growth)

651 690 725 741 791

862 850

1.031 1.102

4,3%6,0% 5,1%

2,2%

6,8%8,9%

-1,4%

21,3%

6,9%

Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16

Deposit balanceMEUR, QoQ

Deposits Deposits (% growth)

Figure 7: Depositors and deposit balance.

Board, management and staff

At the end of October, Christian Holme resigned as a member of the Board of Directors and was succeeded by Nishant Fafalia. At the end of December, Tor Erland Fyksen stepped down as Chief Risk Officer. The Bank is in the process of hiring a replacement and until then, Marc Hentgen, Chief Executive Officer, takes on the responsibility as Chief Risk Officer.

Advanzia Bank S.A. Quarterly Report Q4-16 6

As of 31 December 2016, Advanzia employed 125 full-time equivalent employees, up from 105 at 31 December 2015 and 117 in the end of the previous quarter. The increase in FTEs in 2016 is due to the increase in the overall size of the business.

Shareholding

There were no movements or changes in the distribution of shares during the quarter. Kistefos AS is the largest shareholder with 60.3%. Other shareholders hold below 10% individually.

Financial statements

Below are the unaudited accounts for Advanzia as at end of the fourth quarter of 2016. All amounts are in millions of euro (MEUR). Advanzia follows IFRS accounting principles and the figures are presented so that they reflect Advanzia’s actual business activities and operations.

Assets (MEUR)Actual

Q4-16

Actual

Q3-16

QoQ

growth

Actual

Q4-15

YoY

growth

Actual

YTD-16

Actual

YTD-15

YTD

growth

Cash, balances with central banks 238,1 108,0 121% 89,9 165% 238,1 89,9 165%

Loans and advances to credit institutions 97,5 185,7 -47% 80,1 22% 97,5 80,1 22%

Loans and advances to credit card clients 939,8 905,3 4% 772,4 22% 939,8 772,4 22%

Value adjustment (losses) (49,4) (46,9) 5% (40,6) 22% (49,4) (40,6) 22%

Net loans and advances to credit card clients 890,4 858,4 4% 731,8 22% 890,4 731,8 22%

Investments - 0,9 -100% 0,9 -100% - 0,9 -100%

Tangible and intangible assets 5,8 5,8 0% 1,6 251% 5,8 1,6 251%

Other assets 2,4 1,7 44% 1,9 29% 2,4 1,9 29%

Total assets 1.234,2 1.160,4 6% 906,2 36% 1.234,2 906,2 36%

Liabilities and equity (MEUR)Actual

Q4-16

Actual

Q3-16

QoQ

growth

Actual

Q4-15

YoY

growth

Actual

YTD-16

Actual

YTD-15

YTD

growth

Amounts owed to credit institutions 0,1 0,1 29% - 0,1 -

Amounts owed to customers 1.102,1 1.030,6 7% 791,2 39% 1.102,1 791,2 39%

Other liabilities, accruals, provisions 23,2 27,1 -14% 19,3 20% 23,2 19,3 20%

Subordinated loan (AT1) 9,4 9,5 -1% 8,9 6% 9,4 8,9 6%

Sum liabilities 1.134,8 1.067,2 6% 819,4 38% 1.134,8 819,4 38%

Subscribed capital 27,4 27,4 0% 26,4 4% 27,4 26,4 4%

Reserves 13,1 13,1 0% 11,0 19% 13,1 11,0 19%

Profit (loss) brought forward 38,4 38,4 0% 27,3 40% 38,4 27,3 40%

Profit for the financial year (net of interim dividend) 20,5 14,3 43% 22,2 -8% 20,5 22,2 -8%

Sum equity 99,4 93,2 7% 86,8 14% 99,4 86,8 14%

Total liabilities and equity 1.234,2 1.160,4 6% 906,2 36% 1.234,2 906,2 36% Income statement (MEUR)

Actual

Q4-16

Actual

Q3-16

QoQ

growth

Actual

Q4-15

YoY

growth

Actual

YTD-16

Actual

YTD-15

YTD

growth

Interest receivable, credit cards 38,2 36,4 5% 31,8 20% 141,3 117,8 20%

Interest receivable and similar income, others (0,2) (0,1) 147% 0,0 -1463% (0,3) 0,1 -601%

Interest payable and similar expenses (2,0) (1,7) 15% (1,7) 13% (7,1) (6,9) 2%

Interest payable, other (0,2) (0,1) 20% (0,1) 33% (0,6) (0,3) 113%

Net interest income 35,8 34,4 4% 30,0 20% 133,3 110,6 21%

Commission receivable 2,7 3,0 -12% 3,1 -14% 11,0 12,2 -10%

Commission payable (2,6) (2,6) 1% (2,2) 17% (9,7) (8,4) 16%

Other financial items/operating income 0,9 0,2 267% (1,2) -172% 2,9 0,8 250%

Total income 36,8 35,2 5% 29,7 24% 137,5 115,2 19%

Card acquisition costs (5,1) (5,0) 4% (4,7) 9% (20,2) (15,0) 35%

Card operating costs (3,3) (3,2) 4% (2,6) 28% (12,5) (9,7) 29%

Staff costs (3,2) (2,8) 13% (2,9) 12% (11,4) (10,1) 12%

Other administrative expenses (1,3) (1,2) 8% (0,8) 74% (4,0) (3,0) 36%

Depreciation, tangible + intangible assets (0,5) (0,4) 4% (0,2) 89% (1,6) (1,0) 66%

Sum operating expenses (13,5) (12,7) 6% (11,2) 20% (49,8) (38,8) 28%

Value adjustments (2,5) (2,9) -16% (0,5) 450% (8,8) (3,7) 138%

Write-offs (7,0) (7,3) -5% (7,9) -12% (30,0) (29,3) 3%

Total loan losses (9,5) (10,3) -8% (8,4) 13% (38,8) (33,0) 18%

Profit (loss) on ordinary activities before taxes 13,9 12,2 14% 10,1 37% 48,9 43,5 12%

Income tax and net worth tax 1,5 (3,6) -143% 1,9 -19% (8,7) (7,9) 11%

Profit (loss) for the period 15,4 8,6 78% 12,0 29% 40,2 35,6 13% Figure 8: Unaudited accounts as at 31 December 2016.

Advanzia Bank S.A. Quarterly Report Q4-16 7

Comments to the accounts

In Q4-16, the gross loan balance on credit cards grew by MEUR 34.5 reaching MEUR 940, which represents a 4% increase compared to Q3-16 and a 22% increase compared to Q4-15. The customer acquisition costs were MEUR 5.1 in Q4-16 compared to MEUR 4.7 in Q4-15, an increase of 9%. Annual customer acquisition costs increased from MEUR 15.0 in 2015 to MEUR 20.2 in 2016, an increase of 35%.

Overall liquidity increased approximately by MEUR 42 during the quarter as a result of higher net deposit inflow than loan balance growth.

Total income in Q4-16 increased by 24% compared to Q4-15, landing at MEUR 36.8 (5% higher QoQ). This was mainly driven by higher interest income due to the larger credit card loan balance.

Commission receivable decreased slightly QoQ mainly as the result of lowered cardholder fees. Other income is significantly higher in Q4-16 mainly due to a release of a provision in relation to FGDL (Luxembourg Deposit Guarantee Fund) for 2015/2016 amounting to MEUR 1.5.

Operating expenses increased by 6% compared to previous quarter, mainly a result of higher acquisition and staff costs.

On an annual basis, the growth in loan losses from 2015 to 2016 (+18%) is below the growth in gross loan balance (+22%) and the growth in interest income on credit cards (+20%) implying effective credit risk management. The Bank has also undertaken transactions related to financial instruments, which have reduced the effective tax cost and has recorded a gain of 5.6 MEUR with respect to the income tax.

Advanzia’s profit after tax grew by 78% QoQ to MEUR 15.4 in Q4-16, the best performance recorded so far.

25,0 25,1 26,8 28,7 30,0 30,6 32,4 34,4 35,8

26,7 26,528,5

30,5 29,7 31,434,1 35,2 36,8

Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16

Income split and developmentMEUR, QoQ

Net interest margin Net commisions Net other income Total income

26,7 26,5 28,5 30,5 29,7 31,4 34,1 35,2 36,8

-11,4 -11,8 -12,7 -12,9 -9,3 -14,4 -15,9 -16,3 -11,9

-8,1 -7,9 -7,7 -9,0-8,4

-9,5 -9,6 -10,3-9,5

7,2 6,88,2 8,7

12,0

7,58,7 8,6

15,4

-10,0

-5,0

0,0

5,0

10,0

15,0

Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16

Profit developmentMEUR, QoQ

Total income Total expenses & income taxes

Total loan losses Profit after tax Figure 9: Income and profit development.

Note: Q4-15 and Q4-16 were affected by a lower tax expense applicable to the entire year, but recognised in that period (MEUR 4.8 and MEUR 5.6 respectively).

Advanzia Bank S.A. Quarterly Report Q4-16 8

Key performance indicators (KPIs)

Financial ratiosActual

Q4-16

Actual

Q3-16

QoQ

growth

Actual

Q4-15

YoY

growth

Actual

YTD-16

Actual

YTD-15

YTD

growth

Yield, credit card loans, weighted (%) 17,7% 17,8% -0,1%-p 18,0% -0,3%-p 17,9% 18,1% -0,2%-p

Net interest margin, int. bearing assets, weighted (%) 12,0% 13,2% -1,2%-p 13,8% -1,8%-p 13,0% 13,7% -0,8%-p

Loan loss rate (12 months trailing, credit cards) (%) 4,5% 4,6% -0,1%-p 4,7% -0,1%-p 4,5% 4,7% -0,1%-p

Cost/Income (%) 36,6% 36,1% 0,5%-p 37,7% -1,1%-p 36,2% 33,6% 2,6%-p

Cost/Income (%) (excl. acquisition costs) 22,6% 22,0% 0,6%-p 21,9% 0,8%-p 21,5% 20,6% 0,9%-p

Return on equity (%), annualised 63,0% 37,9% 25,1%-p 59,0% 4,0%-p 44,0% 47,5% -3,5%-p

Capital adequacy ratio Tier 1 (%) (incl. interim profit) 13,8% 13,0% 0,7%-p 15,0% -1,3%-p 13,8% 15,0% -1,3%-p

Capital adequacy ratio Tier 1 (%) (excl. interim profit) 11,6% 11,8% -0,1%-p 12,3% -0,7%-p 11,6% 12,3% -0,7%-p

Liquidity coverage ratio (LCR) (min 100%) 387,9% 303,6% 84,3%-p 415,0% -27,1%-p 387,9% 415,0% -27,1%-p

Net stable funding ratio (NSFR) (min 100%) 129,0% 125,2% 3,8%-p 115,8% 13,3%-p 129,0% 115,8% 13,3%-p Figure 10: Key performance indicators.

The KPIs are in line with expectations and the development of the business as explained beforehand. The gross yield on credit cards remains stable at around 18%. Advanzia managed to reduce its loan loss rate by 0.1%-points YoY. The cost-income ratio excluding acquisition cost was 22.6% in Q4-16. Advanzia maintains an ample solvency and liquidity, having a capital adequacy ratio (incl. interim profits) of 13.8% and a liquidity coverage ratio of 388% in Q4-16.

18,1% 18,2% 18,1% 18,0% 18,0% 18,1% 17,9% 17,8% 17,7%

14,1% 13,6% 13,7% 13,9% 13,8% 13,2% 13,7% 13,2%12,0%

5,1% 5,0% 4,8% 4,8% 4,7% 4,7% 4,7% 4,6% 4,5%

Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16

Profitabilityin %, QoQ

Yield on credit card loans Net interest margin(all interest bearing assets)

Loan loss rate

12,2% 12,4%14,5% 13,4%

15,0%13,5% 14,5%

13,0% 13,8%

176% 163% 206% 230%

415%

145%

351% 304%388%

Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16

Solvency & liquidityin %, QoQ

Capital adequacy ratio (incl. interim profit) Liquidity coverage ratio

42,6%39,0%

43,5%47,0%

59,0%

34,6%38,8% 37,9%

63,0%

Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16

Return on equityin %, annualised,QoQ

Return on equity (ROE)

31,4%33,9% 32,6% 30,5%

37,7% 36,1% 36,0% 36,1% 36,6%

Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16

Cost/income ratioin %, QoQ

Cost-income ratio

Figure 11: Key performance indicators.

Advanzia Bank S.A. Quarterly Report Q4-16 9

Selected market performance indicators

Germany/Luxembourg (in 000's)Actual

Q4-16

Actual

Q3-16

QoQ

growth

Actual

Q4-15

YoY

growth

Actual

YTD-16

Actual

YTD-15

YTD

growth

Gross loan balance (KEUR) 895,0 867,0 3% 752,6 19% 895,0 752,6 19%

Interest receivable, credit cards (KEUR) 36,7 35,2 4% 31,1 18% 136,9 115,4 19%

Loan losses (KEUR) (8,6) (9,0) -5% (7,7) 11% (34,6) (30,5) 13%

France (in 000's)Actual

Q4-16

Actual

Q3-16

QoQ

growth

Actual

Q4-15

YoY

growth

Actual

YTD-16

Actual

YTD-15

YTD

growth

Gross loan balance (KEUR) 30,8 29,0 6% 19,3 60% 30,8 19,3 60%

Interest receivable, credit cards (KEUR) 1,0 1,0 1% 0,7 41% 3,6 2,3 53%

Loan losses (KEUR) (0,7) (1,1) -37% (0,7) 4% (3,7) (2,5) 49%

Austria (in 000's)Actual

Q4-16

Actual

Q3-16

QoQ

growth

Actual

Q4-15

YoY

growth

Actual

YTD-16

Actual

YTD-15

YTD

growth

Gross loan balance (KEUR) 13,9 9,3 49% 0,5 - 13,9 0,5 -

Interest receivable, credit cards (KEUR) 0,5 0,2 89% 0,0 - 0,9 0,0 -

Loan losses (KEUR) (0,2) (0,1) 40% (0,0) - (0,5) (0,0) -

Figure 12: Market performance indicators.

Germany/Luxembourg is growing satisfactorily. Austria, launched at the end of 2015, follows a similar successful pattern to the first year in Germany/Luxembourg. It is, however, too early to draw any final conclusions with regards to Austria. France remains weak but is expected to deliver better results with time.

Advanzia Bank S.A. Quarterly Report Q4-16 10

Outlook

The economic environment in all countries remains stable and is favourable for Austria and Germany. Advanzia will continue its momentum in Germany and Austria, but remains prudent about the development in France.

As pointed out, in line with the strategy, the Bank’s gross loan balance is growing quickly, while profit growth is more subdued due to high acquisition investments and other general investments needed to realise the Bank’s growth potential.

The Bank’s financial situation is expected to remain solid, with prudently managed operating costs and loan losses, all contributing to continued strong financial performance.

Munsbach, Luxembourg

31.10.2017

Gregor Sanner Marc Hentgen Chief Operating Officer Chief Executive Officer

Advanzia Bank S.A. Quarterly Report Q4-16 11

Tony Cragg, I’m Alive, 2001 Kistefos Museum, Norway @ Courtesy of the Kistefos Museum. Photo: Frédéric Boudin I’m Alive was created in 2001 by the British artist Tony Cragg (b. 1949). The sculpture with the telling title, I’m Alive, at first glance looks like a powerful creature that meanders forward. The surface is glossy, which underlines the impression that it is almost bursting with energy. The performance is intensified by all that moves around the sculpture – on the ground, in the sky and in the air – get caught up in a shiny surface that helps create exciting new experiences. The artist gives the impression of vitality in every centimetre!