NAV increases by 5.6% in April

News Release

Guernsey, 27 May 2020

NAV increases by 5.6% in April

· Princess Private Equity Holding Limited's (Princess) net asset value increased by 5.6% to EUR 11.31 per share

· Portfolio developments (+6.2%) were positive and currency movements were flat

· Princess invested EUR 0.2 million during the month and received distributions of EUR 0.9 million

In April, Princess' NAV partially recovered from the sharp decline in March and increased in value by 5.6%. After the negative revaluations in March, which fully reflected the correction observed in public markets during the month, markets recovered some ground in April which had a positive impact on the valuations of a number of Princess' portfolio companies at April month-end.

The largest contributor to the positive performance in April was Techem, a leading German sub-metering service provider. Techem operates in a non-cyclical market and has a proven track record of growth and recession resilience with over 80% of Techem's revenues underpinned by long-term contracts. Techem continues to monitor the potential impact of COVID-19 on its business and results of operations.

Following the imposition of lockdown measures by governments around the world, Partners Group's focus has been on supporting portfolio companies and their employees, ensuring companies maintain sufficient liquidity and implementing short-term cost reduction measures where necessary. These actions have been effective in preserving value in the portfolio during this challenging period. With many countries slowly easing their lockdowns, Princess' affected portfolio companies are also re-opening their businesses according to the local policies. Partners Group maintains its focus on supporting portfolio companies as they emerge from lockdown and remains confident in the long-term outlook for the portfolio.

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.