NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

16 October 2023

For Immediate Release

abrdn Private Equity Opportunities Trust plc

Statement regarding Investment Manager

The Board of abrdn Private Equity Opportunities Trust plc ("APEO" or the "Company") notes the announcement made today by abrdn plc ("abrdn") in respect of the conditional sale (the "Transaction") of its European-headquartered Private Equity business ("abrdn Private Equity"), including abrdn Capital Partners LLP ("abrdn Capital Partners"), to Patria Investments Ltd ("Patria"), a global alternative asset manager established in Latin America.  Further information on Patria is set out below.

abrdn Capital Partners is the Company's investment manager and Alternative Investment Fund Manager (AIFM).  The Board has been discussing the proposed Transaction with abrdn, the Company's investment management team and with Patria.  The Board has received assurances from abrdn and Patria that the Company's investment management team will remain unchanged should the Transaction proceed.  abrdn has also confirmed that appropriate arrangements will be put in place to maintain the existing administration and other services currently provided by abrdn or third party service providers.

The Board is evaluating the impact of the Transaction on the Company and its management team and is continuing to have constructive discussions with Patria.  No changes will be made to the Company's existing management and administration arrangements prior to the Transaction completing.  The Board will provide an update to APEO's shareholders on the progress of the Transaction in due course.

For further information, please contact:

About Patria Investments

Patria is a leading alternative investment firm focused on Latin America, with over 30 years of history and combined assets under management of $28.2 billion, and a global presence with offices in 10 cities across 4 continents. Further information is available at www.patria.com.

Important Information

This announcement is released by the Company and the information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Article 7 of the UK version of the EU Market Abuse Regulation (Regulation (EU) No. 596/2014) which forms part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a Regulatory Information Service, such information is now considered to be in the public domain.

Legal Entity Identifier (LEI): 2138004MK7VPTZ99EV13