Princess NAV increased by 1.4% in May

News Release

Guernsey, 24 June 2014

+1.4% in May - Direct investment drives NAV growth

è Princess Private Equity Holding Limited's ("Princess") net asset value (NAV) increased by 1.4% to EUR 8.05 per share, adjusted for the interim dividend of EUR 0.27 per share

è Overall portfolio developments (1.2%) and currency movements (0.4%) have been positive

è Princess deployed EUR 2.4 million to new and existing direct investments and received EUR 2.8 million in distributions

In May, Princess' investment in Action, a Netherlands-based non-food discount retailer, had its carrying value written up due to Action's consistent year on year earnings growth and the inclusion of additional public comparables. The favourable revaluation was the main driver behind Princess' NAV growth during the period.

Also in May, Princess' investment in Permotio International Learning, an investment vehicle formed to give Partners Group clients access to the creation of a leading international schools group, completed its first acquisition. Colegios Laude operates several internationally-oriented schools across Spain, providing bilingual education to both local and expat communities. The schools are well regarded and to date have been resilient despite the tough economic environment in Spain. Permotio's management team now plans to focus on completing further acquisitions while implementing value-creation initiatives targeted at improving the learning experience, the managerial capabilities within the schools and their key marketing activities.

Distributions over the reporting period came predominately from Princess' legacy fund portfolio. The investment in Applus Group, a Spain-headquartered inspection, certification and technological services company in both the automotive and non-destructive testing and inspection markets was successfully realized by ICG European Fund 2006. The company went public on the Madrid stock exchange and repaid the mezzanine financing provided by the investment partner. Since the investment in the company in 2007, Applus Group had doubled its revenues to over EUR 1.5 billion in 2013, of which it generated 60% outside Europe. The strong development was driven by its international growth strategy and resulted in more than 20 overseas acquisitions since 2007.

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 31 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

Alexander von Wolffradt

Phone: +41 41 784 66 45

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.