News Release

Guernsey, 30 March 2022

Princess publishes February NAV

·      Princess Private Equity Holding Limited's ("Princess" or the "Company") net asset value decreased by 0.8% to EUR 15.00 per share

·      Portfolio developments were negative (-0.7%) while currency movements were flat

·      Princess received distributions of EUR 14.2 million and invested EUR 4.4 million

In February, Princess received distributions of EUR 14.2 million, of which EUR 13.5 million stemmed from the sale of a Swiss-based pharmaceutical developer. Over a more than eight-year holding period, the company has been transformed into a high-growth, emerging markets-focused pharmaceutical firm through several strategic acquisitions.

The remaining distributions of EUR 0.7 million were received from the Company's legacy fund portfolio.

Princess invested EUR 4.4 million in a co-investment in HTL Biotechnology, a leading biotech and industrial player in the development and production of pharmaceutical-grade biopolymers used in pharmaceutical applications such as medical aesthetics, ophthalmology and rheumatology. The company is a pioneer in the production of hyaluronic acid ("HA") and is one of the few global manufacturers that can produce a significant volume of high-grade pharmaceutical quality HA. The investment in HTL Biotechnology stands to benefit from its leading position in the fast-growing HA market. The company also benefits from a diversified customer base that includes major pharmaceutical players with long-term contracts, leading to high cash flow visibility. With a strong international focus and a growing demand in all markets, the company has expanded over the past three years with new offices opened in Singapore and the US. HTL Biotechnology will look to accelerate its development strategy by creating new types of biopolymers and chemical modifications while exploring the untapped potential of biopolymers in innovative applications such as regenerative medicine or drug delivery.

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 127 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

Email: princess@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.