Company Announcements

News Release

Guernsey, 31 October 2022

NAV increases by 1.0% in September

·      Princess Private Equity Holding Limited's ("Princess" or the "Company") net asset value increased by 1.0% to EUR 14.27 per share, total NAV at EUR 986.7 million

·      Currency movements were positive (+2.1%) and portfolio developments were negative (-0.7%)

·      Princess invested EUR 27.0 million and received distributions of EUR 2.2 million

In September, Princess invested a total of EUR 27.0 million, of which EUR 17.4 million was invested in Foundation Risk Partners ("FRP"), a specialist insurance broker in the US. Headquartered in Daytona Beach, Florida, FRP assists businesses and private individuals in navigating the complex US insurance landscape. The company's areas of expertise include commercial insurance, employee benefits, personal insurance, and risk management services. It has a footprint of 139 offices across 18 states, with a primary focus in Florida, New Jersey, New York, and California. The company generates revenues from fees on the initial placement and the recurring annual renewal of insurance policies, leading to highly predictable cash flows. Insurance brokerage is a large market that has proven highly resilient through economic cycles as insurance coverage is a non-discretionary expense. The market further benefits from several transformative trends including the emergence of new risks, such as cyber and social media exposure; the increase in the cost and frequency of litigation; and an evolving regulatory environment that emphasizes the need for insurance advice and coverage. Partners Group will work with management to drive further growth at FRP and expand its presence across the US.

EUR 8.8 million was invested in Accell Group, a manufacturer of bicycles and bicycle parts and accessories ("P&A"). Founded in 1904 and headquartered in the Netherlands, Accell Group is one of the largest producers of e-bikes and bicycle parts globally. The company's core bike brands include Haibike, Batavus, Lapierre, Raleigh, Koga, and Babboe, as well as the company's proprietary P&A brand, XLC. Accell Group has more than 3,000 employees across 15 countries and production facilities located in the Netherlands, Hungary, Turkey, France and Germany.

Princess received distributions of EUR 2.2 million during the month, predominantly from the mature legacy fund portfolio.

Princess will hold a quarterly investor update on 22 November 2022 at 10:00 GMT / 11:00 CET. During the webcast, Partners Group, the Investment Manager of Princess, will give an update on the recent developments of the Princess portfolio based on unaudited figures as at 30 September 2022. Please find the registration details on the Company's webpage or register directly here.

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 131 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

Sarah Page

Phone: +44 20 7575 2695

Email: sarah.page@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.