Partners Group to exit Trimco

 Princess Private Equity Holding

 Limited

 Tudor House

 P.O. Box 477

 St. Peter Port Guernsey, GY1 1BT

 Channel Islands

 Phone: +44 (0) 1481 711 690

 Fax: +44 (0) 1481 730 947

 www.princess-privateequity.net

News release

Guernsey, 23 January 2018

Partners Group to exit Trimco International Holdings Limited

Partners Group, the investment advisor to Princess Private Equity Holding Limited (Princess), has agreed the sale of Trimco International Holdings Limited (Trimco), a Hong Kong-headquartered apparel-labelling producer, on behalf of its clients. The Company will be acquired by funds advised by Affinity Equity Partners for a total consideration of USD 520 million, generating a 3.4x return on the original investment for Partners Group's programs.

Princess will receive proceeds of approximately USD 24.4 million subject to closing adjustments. This compares to a carrying value of USD 24.9 million (EUR 20.9 million) at 30 November 2017.

Further information is available in the press release issued by Partners Group:

https://www.partnersgroup.com/en/news-views/investment-news/current/detail/article/partners-group-to-exit-trimco-a-global-provider-of-labels-and-brand-identification-solutions-to-the-apparel-sector/

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 62 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 symbols: PEY and PEYS).

Contacts

Princess Private Equity Holding Limited:

princess@partnersgroup.com

www.princess-privateequity.net

Registered Number: 35241

LEI: 54930038LU8RDPFFVJ57

Investor relations contact

George Crowe

Phone: +44 20 7575 2771

E-mail: george.crowe@partnersgroup.com

Media relations contact

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 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.