Company Announcements

News Release

Guernsey, 5 January 2023

NAV increases by 0.5% in November

·      Princess Private Equity Holding Limited's ("Princess" or the "Company") net asset value increased by 0.5% to  EUR 14.15 per share, total NAV at EUR 978.4 million

·      Currency movements were negative (-0.4%) and portfolio revaluations were positive (+1.0%)

·      Princess received distributions of EUR 62.8 million and invested EUR 21.4 million

In November, Princess' NAV increased by 0.5%. The positive development was driven by a number of portfolio companies. Among the largest contributors was Ammega (Megadyne - Ammeraal Beltech), a global leader in mission critical belting solutions, whose value increased due to sustained healthy financial performance. Sales growth remains robust in Ammega's core geographies, while price increases and cost saving initiatives have served to offset rising raw material, energy and freight costs.

Princess received distributions of EUR 62.8 million, of which EUR 36.6 million stemmed from United States Infrastructure Corporation ("USIC"), the leading North American provider of utility location services. Partners Group closed the transaction to expand the shareholding base of USIC to incoming investor Kohlberg & Company and re-underwrite the transaction with a 50% co-lead interest in USIC. Founded in 2008 and headquartered in Indianapolis, USIC serves over 1'300 customers and has a workforce of 9'000 technicians that perform 80 million locates each year.

As part of the transaction, Princess reduced its exposure to USIC but re-invested EUR 20.6 million. Moving forward, Partners Group and Kohlberg will implement new value creation initiatives, including investing in sales and digital capabilities.

EUR 11.9 million stemmed from Princess' redemption from its allocation to senior loans. Following this transaction, Princess no longer has an allocation to the related fund that invests in floating rate senior loans. Princess received EUR 11.7 million from distributed proceeds from the sale of its remaining stake in Trimco Joint-investment 2018. The remaining balance of EUR 2.6 million was predominantly received from the mature legacy fund portfolio.

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.