Princess Priv E Regulatory News (PEY)

News Release

Guernsey, 23 August 2017

Princess publishes Half-Year Report 2017

Princess Private Equity Holding Limited ("Princess" or the "Company") today published its Half-Year Report for 2017. The key items were:

n In the first half of 2017, the NAV of Princess achieved a total return of 8.8%, closing the period at EUR 10.77 per share.

n Princess paid a first interim dividend of EUR 0.28 per share, representing a 3.7% increase on the same period in the previous year. The Company maintains its objective to distribute 5-8% of NAV per annum.

n The largest contributors to Princess' NAV growth were the direct investments in VAT Group AG, Action and Permotio International Learning.

n Princess invested a total amount of EUR 47.0 million. EUR 21.6 million was invested in two new direct equity investments (Cerba HealthCare, Oberthur - Morpho) and one add-on investment (Dynacast).

n Princess generated distribution proceeds from exited investments totaling EUR 69.3 million. EUR 43.7 million stemmed from direct investments with the balance of EUR 25.6 million from Princess' legacy fund portfolio.

Brian Human, Chairman, comments: "In the first half of 2017 Princess continued to develop positively, mainly due to the successful implementation of operational and strategic initiatives at its direct portfolio companies. The board remains confident that Princess with its high dividend yield objective and its positioning as a leading global mid-market direct private equity fund is well-placed to generate value for its shareholders over the years to come".

Detailed analysis and commentary on the developments and performance of Princess' portfolio over the first half of 2017 will be presented in a report published today. The report can be accessed via:

http://www.princess-privateequity.net/financialreports

A copy of the above document has 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, 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 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

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 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.