Princess publishes April NAV

News Release

Guernsey, 31 May 2022

Princess publishes April NAV

· Princess Private Equity Holding Limited's ("Princess" or the "Company") net asset value decreased by 0.6% to EUR 15.18 per share

· Portfolio developments were negative (-0.4%) while currency movements were positive (+0.3%)

· Princess invested EUR 22.7 million and received distributions of EUR 12.4 million

In April, the Company's NAV decreased by 0.6%, reflecting declines in global equity markets which are putting downward pressure on the valuation multiples used to value Princess' portfolio companies.

Princess invested a total of EUR 22.7 million, of which EUR 12.4 million was invested in Forefront Dermatology ("Forefront"), the largest, most diversified dermatology group practice in the US. Founded in 1980 and headquartered in Manitowoc, Wisconsin, Forefront has over 200 dermatology clinics across 22 states. The group practice comprises over 400 board-certified dermatologists, physician assistants, and nurse practitioners. The company's mission is to offer patients superior access to world-class, board-certified care within their communities. Partners Group will draw on its extensive experience working with physician partners, multi-site healthcare practices, and executive teams to maintain Forefront's quality- and outcomes-focused culture and support its differentiated patient- and physician-centric approach. Key value creation initiatives will include investing in physician leadership and ownership, improving operational excellence, and expanding Forefront's integrated dermatology ecosystem through investing in its technology, cosmetics service offering, and patient care.

EUR 5.2 million was invested in Climeworks, a leading Swiss designer, developer, and operator of Direct Air Capture ("DAC") plants. Founded in 2009 as a spin-off from ETH Zurich, Climeworks generates revenues through selling carbon dioxide removal services to businesses and individuals. Today, the company has built 15 DAC plants, including the world's largest DAC and storage plant, which started operations last September in Iceland. The capital from this equity round is anticipated to be used for capacity scale-up and geographical expansion - pilot projects have started in the US, the Nordics, and the Middle East - as well as investment into technology development and scaling the organization. Climeworks aims to become a dominant platform in the growing DAC market. Partners Group will work with the management team and other investors to help scale Climeworks, as well as support its commercialization strategy and international expansion.

Princess received distributions of EUR 12.4 million during April, of which EUR 10 million stemmed from a partial redemption from its investment in senior loans. In line with previous guidance, the capital will be redeployed in direct private equity investments. The remaining balance of EUR 2.4 million was predominantly received from Princess' mature legacy fund portfolio.

Further information is available in the monthly report, which can be accessed via: http://www.princess-privateequity.net/en/investor-relations/financial-reports/.

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 managed in its investment activities by Partners Group, a global private markets investment management firm with USD 127 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

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.