Partners Grp E Regulatory News (PEY)

News Release

Guernsey, 8 March 2016

Princess publishes annual report 2015

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

n Princess' audited net asset value (NAV) increased by 17.5% on a total return basis, adjusted for a total dividend of EUR 0.54 per share paid to shareholders. This translated to an annualized dividend yield of 5.7% based on the NAV per share as of 31 December 2015, or an annualized dividend yield of 6.9% based on the closing price of EUR 7.87 on the London Stock Exchange at the end of the year.

n Positive valuation developments were mainly responsible for the Company's NAV growth, contributing +18.8% to the overall NAV development. The largest contributors to NAV growth in 2015 were Princess' direct investments including VAT Vakuumventile AG, MultiPlan or Action.

n During 2015, Princess invested EUR 65.5 million in five new direct private equity, five new direct private debt and one new direct infrastructure investment, bringing the allocation to direct investments to 68% of NAV compared to 56% of NAV at the end of 2014. Overall, EUR 78.1 million were deployed with the investment level increasing to 93.5% of NAV, up from 85.9% at the start of the year.

n Throughout 2015, distribution proceeds to Princess remained strong with the portfolio generating proceeds of EUR 130.7 million, representing 22.0% of the opening NAV.

Brian Human, Chairman, comments: "In 2015 Princess again showed a strong NAV performance, despite a volatile macroeconomic environment. The continued repositioning of the portfolio towards direct investments was a key driver of the positive performance. The successful implementation of operational and strategic initiatives led to EBITDA growth and robust capital structures of the underlying portfolio companies. With the continuing strong trading performance of the majority of the underlying investments, the high number of realizations and the further transition towards a direct investment company, I am confident that Princess is well positioned to further create value for its shareholders in the future."

A detailed analysis and commentary on the developments of Princess during 2015 is presented in the Annual Report published today, which can be accessed via: http://www.princess-privateequity.net/financialreports

A copy of the report has also 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, a global private markets investment management firm with over EUR 46 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:

princess@princess-privateequity.net

www.princess-privateequity.net

Registered Number: 35241

Investor relations contact

George Crowe

Phone: +44 (0)20 7575 2771

E-mail: george.crowe@partnersgroup.com

Media relations contact

Partners Group

Jenny Blinch

Phone: +41 41 784 65 26

E-mail: Jenny.Blinch@partnersgroup.com

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.