Princess Priv E Regulatory News (PEY)

News Release

Guernsey, 24 November 2015

Princess' NAV up by 0.5% in October

è Princess Private Equity Holding Limited's ("Princess") net asset value ("NAV") up by 0.5% to EUR 9.48 per share

è Portfolio developments (+0.5%) and currency movements (+0.3%) were positive for the month

è New direct equity investments in TOUS as well as Taco Bell and Buffalo Wild Wings franchisees

Princess invested a total of EUR 10.1 million in October, of which EUR 4.0 million was allocated to TOUS, a leading global jewelry and accessories brand founded in 1920 by the TOUS family in Manresa (Barcelona), Spain. Recently ranked as one of Europe's 50 most valuable retail brands, TOUS is positioned in the fast-growing affordable luxury segment. Led by a strong management team and operating nearly 500 retail outlets on five continents, the company reported growth of over 10% to generate EUR 371 million in sales for 2014. Partners Group intends to leverage its global network to build TOUS' international presence in key markets such as the US and China and will work in close partnership with the management, focusing on further institutionalization of the business, upgrading of the e-commerce platform and developing integrated systems and new distribution channels.

Furthermore, Partners Group acquired a majority stake in restaurant businesses Pacific Bells and World Wide Wings (together, the Companies). Princess invested EUR 3.7 million in this transaction. The Companies are leading franchisees of the Taco Bell and Buffalo Wild Wings brands and operate 139 restaurants across five US states. The Companies have shared infrastructure and the founders and management teams have retained a significant stake following the transaction. Partners Group will work with the management teams to carry out an ambitious growth plan for the Companies. This plan encompasses further store openings within existing markets, additional franchise acquisitions, and facility improvements at existing outlets.

Princess also invested EUR 1.6 million in the debt of Affordable Care to support Berkshire Partners' acquisition. Operating in the US, the company is a dental support organization for more than 200 affiliated dental practices that focus exclusively on tooth replacement services.

During the month of October, distributions (EUR 13.2 million) came from both the legacy funds portfolio (EUR 4.7 million) and several direct investments. Princess received EUR 6.6 million following the realization of Partners Group's mezzanine investment in Securitas Direct, a Sweden-based provider of integrated safety and security solutions for homes and businesses. In 2011, Securitas Direct was jointly acquired by equity sponsors Hellman & Friedman and Bain Capital. During the fourth quarter of 2015, Hellman & Friedman acquired Bain Capital's stake in Securitas Direct and subsequently refinanced the company's capital structure, which triggered the repayment of the mezzanine loan. Princess also received EUR 1.5 million from its investment in Information Service Company, a major provider of outsourced processing services, which distributed proceeds from the sale of one of its subsidiaries.

After month-end, Princess announced a second interim dividend of EUR 0.27 per share. The total dividend due to shareholders for the calendar year 2015 is therefore EUR 0.54 per share, including the interim dividend of EUR 0.27 per share distributed in June. This represents a dividend yield of 5.7% on NAV per share (as of 31 October 2015). The relevant dates for the entitlement to the dividend and the corresponding ex-dividend date are 27 November 2015 and 26 November 2015 respectively. The dividend will be paid on 18 December.

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 AG, a global private markets investment management firm with over EUR 42 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 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.