Princess Priv E Regulatory News (PEY)

News Release

Guernsey, 24 November 2017

NAV increases by 0.4%

· Princess Private Equity Holding Limited's ("Princess") net asset value increased by 0.4% to EUR 10.95 per share

· Overall portfolio developments (+0.5%) and currency movements (+0.2%) were positive

· Princess received distributions of EUR 51.9 million and invested EUR 18.7 million over the reporting period

Princess received distributions of EUR 51.9 million during the month, including EUR 45.1 million of proceeds from the previously announced placings of shares in VAT Group AG ("VAT") in September and October. Additional proceeds of EUR 11.9 million were received shortly after October month-end and will be reflected in the company's net liquidity position in the November month-end report. The remaining distributions of EUR 6.8 million came predominantly from Princess' mature legacy fund portfolio.

Princess invested a total of EUR 18.7 million during the month, of which EUR 13.8 million was allocated to Civica, a leading UK-based provider of specialist software, digital solutions and outsourcing services. Civica provides business-critical software and technology-based outsourcing services to both public sector organizations and to commercial organizations in highly regulated sectors. The company has a highly diversified customer base. Civica is considered an attractive investment opportunity, given its leading and defensible market positions, recurring revenues from multi-year contracts and strong financial performance with continuous growth, stable margins and high cash conversion. Partners Group will work with Civica's management team to help expand the company both organically and through accretive acquisitions, with a particular focus on accelerating Civica's growth in existing international markets such as Australia and New Zealand. Princess also invested EUR 2.9 million in a globally diversified portfolio of senior secured floating rate syndicated loans. The investment was made for liquidity management purposes to mitigate the potential drag on NAV performance of holding cash in the current low interest rate environment.

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 over EUR 57 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). Further information: www.princess-privateequity.net.

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.