Princess Priv E Regulatory News (PEY)

News Release

Guernsey, 25 October 2018

NAV increases by 2.1% in September

· Princess Private Equity Holding Limited's (Princess) net asset value increased by 2.1% to EUR 11.44 per share

· Portfolio developments (2.5%) were positive and currency movements flat

· Princess received distributions of EUR 6.9 million and invested EUR 8.2 million over the month

The direct investments Permotio International Learning (Permotio), Vermaat, and Foncia were the largest contributors to NAV growth during September. Permotio, an investment vehicle formed to create a leading international schools group through a 'buy and build' strategy, was positively revalued on the back of strong financial performance. For the twelve months ended 30 June 2018, revenue increased by 53.6% year on year to EUR 158.7 million and EBITDA grew 92.4% over the same period to EUR 40.0 million. This was primarily attributable to add-on investments, which included the Middle East-based Nibras, US-based Kehoe France, Tenby schools in Malaysia, Claremont in UK and St. Jude in Costa Rica as well as ongoing cost control initiatives. The valuation of Vermaat, a Dutch hospitality and catering services provider, was also written-up. EBITDA increased 19.2% during the year to July 2018, primarily driven by sales growth and the addition of new sites. Vermaat added 19 new sites in 2018, bringing the total to 307 locations. Foncia, a French provider of property management services, was written up as a result of continued positive progression in its financial results. For the twelve months ended June 2018, EBITDA increased by 12.5% year on year, mainly driven by strong performance in residential real estate services and brokerage activities in France, as well as robust growth in its international branches. Partners Group continues to work closely with Foncia to support its M&A strategy. As of the end of July 2018, Foncia had signed or closed 39 acquisitions year-to-date, representing incremental EBITDA of over EUR 10 million.

Partners Group closed the acquisition of global power transmission belt manufacturer Megadyne Group from Astorg Partners in September, following the July acquisition of Ammeraal Beltech, a global leader in lightweight process and conveyor belting, from Advent International. Partners Group intends to merge the two companies, which have highly complementary product and service offerings, to create a clear market leader. The merger is underpinned by strong industrial and operating logic and is expected to benefit both companies and their clients, by creating a full-service provider across specialist industrial transmission belting and lightweight conveyor belting. Going forward, Partners Group will work closely with management on post-merger integration and other value creation initiatives including realizing identified cost and revenue synergies, strengthening the sales and distribution network in the US, and leveraging its leading market position to drive further M&A activity.

Princess received distributions of EUR 6.9 million during September, which came predominantly from Princess' mature legacy fund portfolio.

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 67 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: +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.