Princess NAV increased by 1.6% in March

News Release

Guernsey, 29 April 2014

+1.6% in March - New direct investments completed

è Princess' net asset value (NAV) increased by 1.6% to EUR 8.22 per share

è Princess deployed EUR 31.0 million to its direct investments and received EUR 7.2 million in distributions

è Overall portfolio developments (1.7%) and currency movements (0.1%) have been positive

In March, Princess completed the previously announced direct equity investment in MultiPlan Inc., a provider of comprehensive healthcare cost management solutions. With a network of almost 900'000 healthcare providers and extensive proprietary analytics, MultiPlan generates over USD 11 billion in medical cost savings on 40 million claims annually. The company generates an attractive cash flow through robust margins and low capital expenditure. Partners Group, which has established a close relationship with MultiPlan over the past three years, expects to strategically support the company's plan to grow revenue through the expansion of MultiPlan's business, while leveraging its highly-scalable operating platform.

Princess also invested in the EUR 600 million acquisition of Kerneos, the global leader in the production and sale of specialty cements used in the refractory materials and building-chemistry industries. Headquartered in Paris, the company sells its products in more than 100 countries, and has in recent years expanded its foothold into emerging markets, which now account for close to one-third of its total revenues. Kerneos' sales have been steadily growing over the last ten years to reach EUR 370 million in 2013, and the company has maintained its margins despite challenging market conditions. Going forward, Kerneos intends to expand its geographical footprint and invest in innovation to improve and widen its product range.

Princess will hold an investor conference call on 8 May 2014, at 11:00 am BST to update interested parties on the recent developments of the Princess portfolio. The information announced will refer to unaudited figures as of 31 March 2014.

The results presentation will be available shortly before the call at http://www.princess-privateequity.net/en/investor_relations/web_cast_live-events.php?ml

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 31 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.