Princess Priv E Regulatory News (PEY)

News Release

Guernsey, 23 December 2013

Princess reports November NAV - AHT Cooling exit completed

è Princess' net asset value (NAV) decreased by 0.5% to EUR 8.00 per share, adjusted for the second interim dividend of EUR 0.27

è Overall portfolio developments (-0.2%) and currency movements (-0.1%) have been negative in November

è Strong net cash flow for the month of EUR 17.0 million mainly due to AHT Cooling exit

During November, Princess' mature portfolio generated distributions of EUR 17.8 million. The largest distribution (EUR 14.0 million) came from the previously announced exit of AHT Cooling. The valuation uplift on this exit was already reflected in the August NAV.

After the review period Partners Group announced two new investments which are expected to close in early 2014. In the first of these, Partners Group, together with its investment partner Capvis, agreed to acquire the majority of VAT Holding AG, the global market leader in high-end vacuum valves. Furthermore, Partners Group announced the buyout of Hofmann Menü Manufaktur, a leading German provider of customized cook and freeze products. In aggregate, Princess is expected to contribute approximately EUR 34 million to these investments. Further details will be provided following the completion of the investments, which are subject to approval by the respective anti-trust authorities.

In November, the Investment Advisor pursued the Princess Board's decision to renegotiate the terms of Princess' credit facility, which included reducing the total facility from EUR 80 million to EUR 50 million, reflecting the reduction in unfunded commitments to third party funds. The new multi-currency credit facility runs until 26 July 2017 and has an unchanged margin rate of 2.95% p.a. if the loan to value ratio is below 15% and 3.25% p.a. above. In addition, it offers a reduction in the non-utilization fee from 1.05% p.a. to 0.90% p.a.

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 30 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. 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.