Princess reports February NAV

News Release

Guernsey, 24 March 2014

Princess reports February NAV - New direct investments completed

è Princess' net asset value (NAV) decreased by 0.3% to EUR 8.09 per share

è Princess deployed EUR 22.5 million to new direct investments and received EUR 1.9 million in distributions

è Although operational improvements in underlying companies continued to positively impact performance over the month (+0.3%), negative currency movements more than offset these gains (-0.6%)

In February, Princess completed the previously announced direct investments in Fermaca, a Latin American pipeline operator and Swiss-based VAT Holding AG.

The latter is the global market leader in high-end vacuum valves and has a strong market position in these mission-critical parts for the vacuum industry. The company offers its clients the largest product portfolio available globally and generates an annual turnover of more than CHF 300 million. Despite the underlying end markets such as semiconductors having faced challenging market environments at times, VAT has constantly increased its market share whilst delivering stable and attractive margins, due in part to its flexible cost structure and best-in-class engineering and production capabilities.

Furthermore, Princess invested in Fermaca, a leading provider of gas transportation infrastructure in Mexico. The company currently owns and operates pipelines capable of shipping about 20% of Mexico's natural gas needs. Fermaca is also finishing the construction of an additional pipeline which will transport cheap shale gas from the United States to serve the rapidly rising demand in Mexico, primarily driven by power generation needs. Its customers include Mexico's largest natural energy companies while the bulk of Fermaca's capacity is contracted under long-term agreements, providing the business with stable and predictable cash flows.

Also in February, Partners Group agreed to acquire MultiPlan Inc., a provider of comprehensive healthcare cost management solutions. The transaction is subject to regulatory approvals and customary closing conditions.

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.