NAV up by 2.8% in March

News Release

Guernsey, 28 April 2015

Direct investments drive performance,bringing quarter-to-date performance to +6.3%

è Princess Private Equity Holding Limited's ("Princess") net asset value ("NAV") up by 2.8% to EUR 9.12 per share

è Overall portfolio developments (+2.2%)and currency movements (+1.3%) were positive for the month

è Princess received distributions of EUR 8.9 million and invested EUR 2.2 million

During the reporting period, Partners Group's value creation initiatives continued to bear fruit and several direct portfolio companies were written up based on positive results. The direct investments in VAT Vakuumventile and Action were amongst the largest contributors to NAV growth.

VAT is the global market leader for high-end vacuum valves, a critical component in highly complex manufacturing processes. VAT offers its clients the largest product portfolio globally, with customized solutions as well as over 1'000 standard valves covering all relevant ranges of vacuum pressure. The company was revalued mainly due to favorable market conditions and a positive market outlook. Additionally, strategic initiatives such as the strengthening of the company's presence in Asia and the expansion of its after sales business have been triggered and should impact the business positively over the next 12 months.

Action is a Dutch discount retailer which recently saw the opening of its 500th store and offers a wide and varied product range, which includes household and office supplies, cosmetics, toys, textiles, glass, etc. The company was revalued as it witnessed further growth momentum in its financial performance. In other positive developments, Action was voted "Retailer of the year Europe 2014-2015", in Europe's largest consumer survey of over one million consumers, spanning nine countries and assessing 665 retailers.

Distributions over the reporting period came predominately from Princess' legacy third party fund portfolio (EUR 8.8 million).

Princess will hold an investor conference call on 5 May 2015, at 10:00 am BST to update interested parties on the recent developments of the Princess portfolio. The information announced will refer to unaudited figures as of 31 March 2015.

The results presentation will be available shortly before the call at http://www.princess-privateequity.net/en/investor_relations/web_cast_live-events.php?ml

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 37 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

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.