Partners Grp E Regulatory News (PEY)

News Release

Guernsey, 13 March 2014

Princess publishes annual report 2013

Princess Private Equity Holding Limited (Princess or the Company) today published its Annual Report for 2013. The key items were:

n Princess' audited net asset value (NAV) increased by 2.6% on a total return basis, adjusted for a total dividend of EUR 0.53 per share paid to investors. This is an 8.2% increase compared to last year's total dividend and an annualized dividend yield of 6.6% based on the NAV per share as of 31 December 2013, and of 8.4% based on the 2013 closing price of EUR 6.30 on the London Stock Exchange.

n Valuation developments were positive, contributing as much as +5.7% to Princess' NAV. However, negative currency movements detracted (-1.4%) from Princess' NAV. Also the cash drag had a dilutive effect on Princess' NAV performance.

n Princess invested EUR 37.5 million in ten direct investments. This year's overall investments of EUR 49.2 million included only EUR 11.7 million in drawdowns from existing fund commitments, which clearly reflects the success in repositioning Princess further towards a pure direct vehicle.

n Throughout 2013, distribution proceeds to Princess remained robust with the mature portfolio generating proceeds of EUR 78.7 million.

n Following the strong share price performance during 2012 (+26.0%), Princess' share price performance was slightly negative during 2013 (-0.3%), adjusted for the dividend.

Brian Human, Chairman, comments: "2013 was a year of transition in a challenging macroeconomic environment. With market valuations across the size spectrum near historic peaks, the Investment Advisor remained highly selective in its investment process throughout 2013. While the repositioning of the portfolio and the accumulation of higher than expected cash reserves within the fund resulted in a NAV performance which was modest and below public markets for the year, I believe that the transition and disciplined investment approach will be of long-term benefit to Princess shareholders. I expect the direct investments made during the year to create shareholder value in the coming years and to help position Princess as the leading global mid-market private equity fund on the London Stock Exchange."

A detailed analysis and commentary on the developments of Princess during 2013 is presented in the Annual Report published today, which can be accessed via: http://www.princess-privateequity.net/financialreports

A copy of the report has also been submitted to the National Storage Mechanism and will shortly be available for inspection at: http://www.Hemscott.com/nsm.do

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 31 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 AG

Alexander von Wolffradt

Phone: +41 41 784 66 45

E-mail: alexander.wolffradt@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 Private Equity Holdings. 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 is 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.