NAV up by 0.6% in November

News Release

Guernsey, 22 December 2014

NAV up by 0.6% in November bringing year to date performance to +11.7%

è Princess Private Equity Holding Limited's ("Princess") net asset value ("NAV") increased by 0.6% to EUR 8.47 per share, adjusted for the interim dividend of EUR 0.27 per share

è Overall portfolio developments were positive (+0.6%) and currency movements were flat for the month

è Distributions over the period amounted to EUR 4.2 million and came predominately from Princess' legacy third party fund portfolio

In November, the direct investment portfolio had the greatest impact on Princess' favorable NAV development. For example, the Company's direct investment in Hofmann Menue Manufaktur increased in value on the back of increased revenues and strong cash generation. The company has also added to its sales force and hired a new regional sales manager for the northern part of Germany. In addition, Hofmann successfully entered the Swiss market through the acquisition of a small catering company from which Hofmann Menue Manufaktur will systematically roll out its offering in Switzerland.

Distributions over the reporting period came predominately from Princess' legacy third party fund portfolio.

After the review period, on 17 December 2014, Princess paid a second dividend of EUR 0.27 for each Ordinary Share. The total dividend paid to shareholders for the calendar year is therefore EUR 0.54 per share, including the interim dividend of EUR 0.27 per share paid in June. This translates into a dividend yield of 6.4% on NAV per share (as of 30 November 2014) and a yield of 7.6% on Princess' share price, based on the 30 November 2014 closing share price. Princess has a dividend policy to distribute 5-8% p.a. of opening NAV via semi-annual dividends following the publication of the quarterly reports as of 31 March and 30 September.

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 AG, a global private markets investment management firm with over EUR 33 billion (over USD 40 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 London Stock Exchange (ticker symbol: PEY). Further information: www.princess-privateequity.net

Contacts

Princess Private Equity Holding Limited:

[email protected]

www.princess-privateequity.net

Registered Number: 35241

Investor relations contact

George Crowe

Phone: +44 (0)20 7575 2771

E-mail: [email protected]

Media relations contact

Partners Group AG

Jenny Blinch

Phone: +41 41 784 65 26

E-mail: [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 is 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.