Princess Priv Regulatory News (PEYS)

(LSE: PEYS/PEY)

Princess Private Equity Holding Limited

Princess Q4 2022 results presentation

Hedging to cease from 1 April 2023

Extension and increase to the revolving credit facility

Dividend objective reconfirmed

Changes to board composition

Princess Q4 2022 results presentation

Princess will hold a quarterly investor update today Tuesday, 28 February 2023, at 10:00 GMT / 11:00 CET. During the webcast, Partners Group, the Investment Manager to Princess, will give an update on the recent developments of the Princess portfolio based on unaudited figures as of 31 December 2022. Please find the registration details below or on the Company's webpage.

The results presentation is now available at: https://www.princess-privateequity.net/en/investor-relations/web-cast-live-events/.

Discontinuation of hedging

The foreign exchange ("FX") hedging strategy of the Investment Manager prioritized net asset value ("NAV") stability in times of more significant changes in exchange rates against the Euro. To align with the investment company universe, the board has agreed for Princess to discontinue with the hedging of currency exposures from 1 April 2023. The contracts which are currently in place are of a short duration and will be closed out as of 31 March. The Company will report the underlying investment currencies, to allow investors who prefer a hedged exposure to apply their own hedging overlay. Ceasing hedging will reduce the volatility of cash flows while increasing NAV volatility as a result of changing FX rates.

Extension and increase to the revolving credit facility

The Company has entered into an extension and a modest increase in the size of its senior revolving credit facility ("facility") with Lloyds Bank Corporate Markets plc. The previous facility of EUR 110m was due to expire on 14 December 2024. The facility will be increased to EUR 140 million and the term extended to 13 December 2026. The terms of the extension and increase were made at substantially similar terms.

The Company takes a conservative approach to balance sheet management, while aiming to maintain a high investment level at approximately 95% - 100%. The facility supports these objectives as well as providing the Company with the flexibility to manage short-term funding requirements.

Dividend reconfirmed

The dividend objective to pay 5% of opening NAV through semi-annual payments is reconfirmed, with the first payment for FY23 expected to be EUR 0.36 payable in June 2023. The prospective dividend yield for FY23 is in excess of 7% at the current share price.

Changes to board composition

After serving as Chair since August 2018 and a Princess board member for 13 years, Richard Battey will be stepping down from the board and the role of Chair by not standing for re-election at the annual general meeting ("AGM") in June 2023. All other board members will stand for re-election. Subject to the members' re-election, Steve Le Page will assume the role of Chair from the date of the AGM, Merise Wheatley will become Chair of the Audit & Risk Committee, Fionnuala Carvill will become Chair of the Management Engagement Committee, and Felix Haldner, as Advisory Partner for Partners Group will remain as the Investment Manager representative on the Princess board.

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 135 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

Investor relations contact: Media relations contact:

Sarah Page Jenny Blinch

Phone: +44 20 7575 2695 Phone: +41 41 784 65 26

Email: sarah.page@partnersgroup.com E-mail: jenny.blinch@partnersgroup.com

Registered Number: 35241 LEI: 54930038LU8RDPFFVJ57

1. Note that references in this announcement to Princess Private Equity Holding Limited have been abbreviated to "Princess" or "Company". References to Partners Group AG have been abbreviated to "Partners Group " or "Investment Manager".

2. 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.

3. 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.