Princess publishes Half-Year Report 2015

News Release

Guernsey, 13 August 2015

Princess publishes Half-Year Report 2015

Princess Private Equity Holding Limited (Princess or the Company) today published its Half-Year Report for 2015. The key items were:

n The NAV of Princess increased by 9.7% to EUR 9.14 per share, adjusted for the first interim dividend of EUR 0.27 per share distributed in June.

n Partners Group's focus on value creation continued to foster strong revenue and EBITDA growth and healthy capital structures at portfolio company level. Consequently, positive valuation developments (+9.4%) were responsible for the bulk of NAV growth.

n The largest contributors to Princess' NAV growth over the reporting period were the direct investments in Universal Services of America, VAT Vakuumventile AG, MultiPlan, Action and Hofmann Menue Manufaktur.

n Princess invested a total of EUR 26.7 million in four new direct investments, Dynacast, a new direct equity investment, an add-on acquisition by Permotio International Learning and two North American direct debt investments.

n Overall, new investment activity amounted to EUR 35.5 million with the investment level increasing to 92.2% of NAV, up from 85.9% at the start of the year.

n Distribution activity continued to be healthy over the reporting period. Overall distribution proceeds to Princess totaled EUR 40.9 million, compared to EUR 32.0 million in the corresponding period last year.

Brian Human, Chairman, comments: "After a successful 2014, Princess continued to develop positively over the first half of 2015, mainly due to the successful implementation of operational and strategic initiatives of its direct portfolio companies. The repositioning of the portfolio on direct investments continues to bear fruit and we remain positive on the outlook for the Company for the remainder of the year. In particular, the Board was pleased to note the successful exit of Princess' direct investment in Universal Services of America, the first material direct exit since the repositioning of the portfolio. It continues to be our intention to pay semi-annual dividends to our shareholders and we are confident that the Company's high dividend yield and increasing allocation to direct investments provide a basis for attractive shareholder returns in the future."

Detailed analysis and commentary on the developments and performance of Princess' portfolio over the first six months of 2015 will be presented in a report published today. The report can be accessed via: http://www.princess-privateequity.net/financialreports.

A copy of the above document has been submitted to the National Storage Mechanism and will shortly be available for inspection at: http://www.Hemscott.com/nsm.do.

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 42 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.