Monthly Performance Update

24th April 2014 Pantheon International Participations PLC Performance update at 31st March 2014 Pantheon International Participations PLC ("PIP") announced an unaudited netasset value ("NAV") per share at 31st March 2014 of 1,344.1p, an increase of12.9p (1.0%) from the NAV per share at 28th February 2014. Valuation gains(7.9p, 0.6%), investment income (0.6p, 0.0%) and foreign exchange gains (6.0p,0.5%) were partially offset by expenses and interest (-1.6p, -0.1%). PIP's valuation policy for private equity funds is based on the latestvaluations reported by the managers of the funds in which PIP has holdings. Inthe case of PIP's valuation at 31st March 2014, the majority of reportedvaluations (accounting for circa 94% by value) are dated 31st December 2013. At 31st March 2014, PIP's private equity assets stood at £803m, with cashbalances of £95m. Undrawn commitments to investments stood at £188m at 31stMarch 2014, calculated using exchange rates at that date. In addition, theCompany's multi-currency revolving credit facility agreement, comprising aUS$82m facility and a €57m facility, remained completely undrawn. PIP's portfolio generated net cash of £14.2m during the month, withdistributions of £16.8m relative to £2.6m of calls from existing commitments toprivate equity funds. PIP completed one secondary investment during the month, an £8.5m commitment totwo European small buyout funds, which on aggregate were approximately 62%funded on completion. In addition, PIP also made a £2.4m primary commitment toClayton, Dubilier & Rice Fund IX, a large buyout fund based in the USA. Monthly Report The March monthly newsletter can be accessed on PIP's website at www.pipplc.comin the Investor Relations section under the heading "Reports & Newsletters", orby following this link: http://www.pipplc.com/investor-relations/financial-reports. Ends NOTES PIP PIP is a London quoted investment trust, managed by Pantheon Ventures (UK) LLP("Pantheon"), a leading global private equity fund investor, investing in bothprimary funds and secondary transactions, and from time to time capitalisingfurther on its fund investment activities by acquiring direct holdings inunquoted companies, usually either where a vendor is seeking to sell a combinedportfolio of fund interests and direct holdings or where there is a privateequity manager, well known to Pantheon, investing on substantially the sameterms. With investments in private equity funds, covering multiple privateequity strategies ranging from investments in late stage buyouts to early stagetechnology, PIP enables individuals as well as institutions to gain access to asubstantial portfolio of unquoted companies in the USA, the UK, ContinentalEurope and Asia, within funds managed by experienced private equity managers. Pantheon Pantheon is a leading global private equity fund investor that invests onbehalf of over 400 institutional investors. Established over 30 years, Pantheonhas developed a strong reputation and track record in primary, secondary andco-investments and across all stages and geographies. Pantheon has £17.3billion in AUM (as at 31st December 2013), over 180 employees, including over70 investment professionals, located across offices in London, San Francisco,New York, Hong Kong, Seoul and Bogotá. For more information please visit PIP's website at www.pipplc.com or contact: Andrew Lebus or Alexis Barling Pantheon 020 7484 6200 Neither the contents of the Company's website nor the contents of any websiteaccessible from hyperlinks on the Company's website (or any other website) isincorporated into, or forms part of this announcement. Pantheon International Telephone +44 (0) 20 Participations PLC 7484 6200 Norfolk House Facsimile +44 (0)20 7484 6201 31 St. James's Square E-mail: London SW1Y 4JR [email protected] Internet: www.pipplc.com Registered office: Beaufort House, 51 New North Road, Exeter, Devon EX4 4EP.Incorporated in England number: 2147984. An investment company under section 833 of the Companies Act 2006. Managed byPantheon Ventures (UK) LLP.