(LSE: PEYS/PEY)

Princess Private Equity Holding Limited

Changes to Board composition

Princess Private Equity Holding Limited today announces the following:

Mr Peter McKellar has accepted an invitation to join the Board as Non-Executive Chair with effect from 23 November 2023, subject to the necessary regulatory registrations in Guernsey.

Peter has extensive experience in the asset management, investment company and private equity sectors. He is currently a Non-Executive Director of 3i Group plc, the Deputy Chairman of AssetCo plc, a Board Member of Scottish Enterprise, and the Vice Chairman of Investcorp Europe Acquisition Corp 1. He was formerly Global Head of Private Markets at Standard Life Aberdeen plc, before which he led Standard Life Investments' private equity and infrastructure business and was their Chief Investment Officer. During his time at Standard Life Investments Peter led the listing in 2001 and was then lead manager of Standard Life Private Equity Trust (now called Abrdn Private Equity Opportunities) until 2015. Prior to that, he held a variety of finance posts in industry and corporate finance positions.

Neither Peter nor any connected party to Peter has any beneficial interest in shares of the Company at the date of this announcement.

There are no further details required to be disclosed pursuant to section 9.6.13 of the UKLA Listing Rules.

Mr Henning von der Forst has notified the Board that, having served as a Non-Executive Director since 2012, he intends, in line with best practice for UK-listed companies, not to seek re-election at the next AGM scheduled to be held in June 2024.

Fionnuala Carvill, Interim Chair, commented:

"Following the AGM in June, the Board announced that it had initiated the necessary measures to recruit a successor Chair. We are very pleased that this independent process has culminated in Peter McKellar, who is eminently suited to the role, agreeing to be appointed as Chair next month. The Board records its appreciation for the support of major shareholders during this comprehensive process."

Peter McKellar, Chair-elect, commented:

"I look forward to working with the Directors to build out and further strengthen the Board, which we envisage will involve the appointment of both UK and European nationals with complementary and relevant skill sets.

Additionally, the Board is committed in the near term to working with the Company's investment manager to enhance engagement with current and prospective shareholders, and will establish a clear and robust capital allocation policy appropriate to the Company's investment strategy, portfolio liquidity, prevailing market conditions, and particularly the dividend objective, which we recognise is important to many Princess shareholders."

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 142 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:

[email protected]

www.princess-privateequity.net

Investor relations contact:                                                                    Media relations contact:

Sarah Page                                                                                                    Jenny Blinch

Phone: +44 20 7575 2695                                                                  Phone: +41 41 784 65 26

Email: [email protected]                                        E-mail: [email protected]

Registered Number: 35241   LEI: 54930038LU8RDPFFVJ57

Notes:

1.     Note that references in this announcement to Princess Private Equity Holding Limited have been abbreviated to "Princess" or "Company". References to Partners Group AG have been abbreviated to "Partners Group " or "Investment Manager".

2.     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.

3.     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.