Company Announcements

 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, 22 November 2022

Q3 report to 30 September 2022 based on unaudited figures, additional information relating to Q4 2022 and update on suspended second interim dividend

Princess Private Equity Holding Limited ("Princess" or the "Company") today published its third-quarter results for 2022.

Please find below a link to the Quarterly Report, covering performance to 30 September 2022.

Webcast & live events: Princess Private Equity Holding Limited (princess-privateequity.net)

The current economic environment remains uncertain, and the underlying conditions such as the challenging debt markets are still limiting the facilitation of asset sales across the industry. As a reaction to the H1 currency movements, Princess has paused new investments since August 2022 in the short-term, to strengthen its liquidity position and enable cautious investment in the future.

All new investments that were committed to before the investment pause are now largely funded and therefore, no material investment outflows are expected imminently. Together with the decision to suspend the H2 dividend, the investment pause is allowing Princess to weather further potential significant negative FX movements and a continuing challenged exit environment. Liquidity i.e. cash and undrawn credit facility amounts to EUR 88 million as of 18 November 2022.

The Princess portfolio continues to provide exposure to thematic growth trends across investments in value creation mode, and mature investments which seek to crystallise value in the future.

The Board confirms that Princess' dividend objective to pay 5% of opening NAV remains in place. Absent of a further significant USD appreciation and assuming somewhat normalised exit markets, the Board of Princess expects to pay the next dividend in June 2023. However, the suspended second dividend for 2022 will not be paid.

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: +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.