Partners Grp Regulatory News (PEYS)

News Release

Guernsey, 24 December 2021

Princess publishes November NAV

· Princess Private Equity Holding Limited's (Princess or the Company) net asset value decreased by 0.4% to EUR 15.38 per share

· Portfolio developments were flat (-0.0%) while currency movements were positive (+0.1%)

· Princess received distributions of EUR 26.8 million and invested EUR 13.8 million

In November, Princess received distributions of EUR 26.8 million, of which EUR 16.4 million was received from the sale of Pacific Bells, a leading franchisee of the Taco Bell brand in the US. Since Partners Group acquired Pacific Bells in 2015, it has worked with the Company's management team to meaningfully grow EBITDA and headcount, as well as almost triple the number of stores from 86 at the time of investment. In the last six years, Pacific Bells has also entered new markets, including in Wisconsin, California, Mississippi, Tennessee, and Alabama, introduced new energy efficiency projects, and optimized operating processes.

EUR 9.8 million was received from the sale of Hortifruti Natural da Terra ("Hortifruti"), Brazil's largest fresh food retail chain. Over the last five years, Partners Group has employed its entrepreneurial governance approach at Hortifruti to support the implementation of several transformational value creation initiatives and drive the company's strong growth. Partners Group helped the business almost double its store base through both organic expansion and add-on acquisitions, created and expanded its online capabilities, and optimized its delivery of fresh products to homes, ensuring the same high level of service and product quality that shoppers are accustomed to when buying in person.

Princess invested EUR 13.8 million, of which EUR 8.1 million was invested in a large grocery retailer in the UK. The company has several hundred stores, which are primarily located in city centers and suburban areas, and a portfolio of petrol stations. The company benefits from a vertically integrated supply chain, with food manufacturing sites and distribution centers, and has a growing online presence. EUR 1.2 million was invested in EyeCare Partners, a leading clinically integrated network of ophthalmology and optometry providers in the US, and EUR 4.6 million was invested in a confidential investment.

Princess declared a second interim dividend of EUR 0.335 per share in November, with the shares trading ex-dividend during the month. In aggregate with the first interim dividend of EUR 0.335 per share, this represents a total dividend for FY 2021 of EUR 0.67 per share, in-line with previous guidance to distribute 5% of opening net asset value for each financial year, via semi-annual payments.

Further information is available in the monthly report, which can be accessed via: http://www.princess-privateequity.net/en/investor-relations/financial-reports/.

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 managed in its investment activities by Partners Group, a global private markets investment management firm with USD 119 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

Email: princess@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.