NAV increases by 3.0% in May

News Release

Guernsey, 25 June 2020

NAV increases by 3.0% in May

· Princess Private Equity Holding Limited's (Princess) net asset value increased by 3.0% to EUR 11.65 per share

· Portfolio developments were positive (+3.6%) and currency movements were negative (-0.4%)

· Princess invested EUR 3.4 million during the month and received distributions of EUR 3.0 million

In May, Princess' NAV continued its recovery and increased in value by 3.0%.

Amongst the largest contributors to the positive performance was AMMEGA, the global leader in mission critical industrial power transmission, lightweight process and conveyor belting. It benefitted from its exposure to diversified end markets with an important share in food and pharma which helped as governments classified its products as "essential" during the lockdowns.

EUR 2.5 million was invested in Fermaca, a leading operator of gas infrastructure in Mexico. The capital was used to repay a bridge loan which Fermaca had obtained during the fourth quarter of 2019 to finance the completion of its construction of natural gas pipelines as well as certain interconnections. The company reached a significant milestone in December 2019 as the La Laguna - Aguascalientes project, a pipeline that transports 1'189 million cubic feet of natural gas per day, commenced commercial operation.

Princess received distributions of EUR 3.0 million during the month, predominantly from the mature legacy fund portfolio.

Post-period end, Princess announced that the sale of its stake in Action had closed. The Company received initial proceeds of EUR 80.9 million following the closing of the transaction.

On 23 June the Board of Directors declared a first interim dividend of EUR 0.145 per share for FY 2020. The dividend will be paid on 24 July 2020. The relevant date for the entitlement to the dividend (record date) will be 3 July 2020 and the corresponding ex-dividend date will be 2 July 2020. The Company intends to pay a second interim dividend in December such that the total dividend for the year is not less than EUR 0.29 per share, representing a prospective yield of 3.1% on the closing share price of EUR 9.46 on 23 June 2020.

Further information is available in the monthly report, which can be accessed via: http://www.princess-privateequity.net/financialreports.

Ends.

About Princess

Princess is an investment holding company founded in 1999 and domiciled in Guernsey. It invests, inter alia, in private equity and private debt investments. Princess is advised in its investment activities by Partners Group, a global private markets investment management firm with USD 94 billion in investment programs under management in private equity, private debt, private real estate and private infrastructure. Princess aims to provide shareholders with long-term capital growth and an attractive dividend yield. Princess is traded on the Main Market of the London Stock Exchange (ticker: PEY for the Euro Quote; PEYS for the Sterling Quote).

Contacts

Princess Private Equity Holding Limited:

[email protected]

www.princess-privateequity.net

Registered Number: 35241

LEI: 54930038LU8RDPFFVJ57

Investor relations contact

George Crowe

Phone: +44 (0)20 7575 2771

Email: [email protected]

Media relations contact

Jenny Blinch

Phone: +44 207 575 2571

Email: [email protected]

www.partnersgroup.com

This document does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities and neither is it intended to be an investment advertisement or sales instrument of Princess. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes must inform themselves about and observe any such restrictions on the distribution of this document. In particular, this document and the information contained therein are not for distribution or publication, neither directly nor indirectly, in or into the United States of America, Canada, Australia or Japan.

This document may have been prepared using financial information contained in the books and records of the product described herein as of the reporting date. This information is believed to be accurate but has not been audited by any third party. This document may describe past performance, which may not be indicative of future results. No liability is accepted for any actions taken on the basis of the information provided in this document. Neither the contents of Princess' website nor the contents of any website accessible from hyperlinks on Princess' website (or any other website) is incorporated into, or forms part of, this announcement.