Princess Priv E Regulatory News (PEY)

News Release

Guernsey, 1 March 2018

NAV increases by 0.2%

· Princess Private Equity Holding Limited's (Princess) net asset value increased by 0.2% to EUR 10.75 per share

· Portfolio developments were positive (0.7%) and currency movements (-0.5%) were negative

· Princess received distributions of EUR 19.2 million and invested EUR 2.7 million over the reporting period

Princess received distributions of EUR 19.2 million during the month, including EUR 12.4 million of proceeds from the sale of its remaining shares in VAT Group AG (VAT). After four years of ownership, the investment generated a multiple of 6x on invested capital and an IRR of 74%. Since the acquisition of the company in February 2014, Partners Group has driven forward a wide range of value creation initiatives to strengthen VAT's organizational, process and financial capabilities. Princess also received a dividend of EUR 2.7 million from Varsity Brands, a US-based manufacturer and distributor of sports and affinity products to the K-12 and collegiate student market. The dividend, which represents 53% of invested capital, was funded by the issuance of new term loans and balance sheet cash. Between December 2014 and November 2017, Varsity Brands' revenue increased significantly, mainly driven by strong organic growth and several add-on acquisitions in the BSN Sports and Varsity Spirits business segments. EUR 2.1 million stemmed from the sale of the remaining shares in a US entertainment company (name withheld due to a confidentiality agreement), a global leisure corporation that owns and operates casinos, hotels and golf courses. The remaining distributions of EUR 2.0 million came predominantly from Princess' mature legacy fund portfolio.

Princess invested a total of EUR 2.7 million during the month, the majority of which was allocated to liquid loans for liquidity management purposes.

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, a global private markets investment management firm with EUR 61.9 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:

princess@partnersgroup.com

www.princess-privateequity.net

Registered Number: 35241

LEI: 54930038LU8RDPFFVJ57

Investor relations contact

George Crowe

Phone: +44 (0)20 7575 2771

Email: george.crowe@partnersgroup.com

Media relations contact

Jenny Blinch

Phone: +41 41 784 65 26

Email: 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 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.