Princess Priv E Regulatory News (PEY)

News Release

Guernsey, 24 March 2021

NAV increases by 0.9% in February

· Princess Private Equity Holding Limited's (Princess or the Company) net asset value increased by 0.9% to EUR 13.50 per share

· Portfolio developments were positive (+1.2%), while currency movements were flat

· Princess invested EUR 10.9 million during the month and received distributions of EUR 7.7 million

During February, Princess made an additional EUR 25 million commitment to Partners Group Direct Equity 2019 program, bringing its total commitments to the program to EUR 75 million. In connection with the new commitment, Princess financed an initial capital call of EUR 6.6 million.

EUR 4.3 million of additional capital was provided to portfolio company Form Technologies ("Form"), a global manufacturer of customized, highly engineered metal components, as part of a broader balance sheet restructuring. The company's recent performance has been closely tied to that of the automotive and oil and gas industries, which have been hit hard by the COVID-19 pandemic. The restructuring will enhance Form's liquidity profile, extend its debt maturities and reduce net leverage, while also improving the company's credit rating. As part of this transaction, the company also successfully raised additional debt to repay its senior loans. The timely execution of this debt transaction will minimize customer and supplier disruption and ensure operations continue smoothly. Form is recovering strongly from the pandemic, with positive year over year performance in December 2020 and January 2021. Volumes are expected to re-bound further in the coming months due to renewed activity in the company's end markets. The investment in Form represented 1.6% of Princess' net asset value at February month-end.

Princess received distributions of EUR 7.7 million this month, of which EUR 6.3 million stemmed from CSS Corp ("CSS"). In February 2021, Partners Group closed the sale of CSS, a global technology support services leader. During Partners Group's ownership the company's growth strategy was revamped with a focus on innovation in its service offering and sales pitches to prospective customers. CSS has won several marquee accounts with international businesses across the telecommunications sector over the past 18 months. Given the potential for further upside, Princess, alongside other Partners Group clients, will retain a minority stake in the company.

The remaining balance of EUR 1.4 million was received from Princess' mature legacy fund portfolio.

Further information is available in the monthly report, which can be accessed via: http://www.princess-privateequity.net/en/investor-relations/financial-reports/.

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 managed in its investment activities by Partners Group, a global private markets investment management firm with USD 109 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 20 7575 2771

Email: george.crowe@partnersgroup.com

Media relations contact

Jenny Blinch

Phone: +44 207 575 2571

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.