(LSE: PEYS/PEY)

Princess Private Equity Holding Limited

Sale of SRS Distribution

SRS Distribution Inc. ("SRS") announced on 28 March 2024 that it has entered into a definitive agreement to be acquired by The Home Depot.

·    As of 31 January 2024, SRS represented 5.2% of Princess' NAV.

·    Princess will value its stake in SRS at approximately EUR 67 million[1] as of 31 March 2024. This compares to a carrying value of EUR 51.4 million at 31 January 2024. The uplift of approximately EUR 16 million¹ corresponds to 1.6% of Princess' NAV as of 31 January 2024.

·    Princess invested EUR 14.1 million in SRS in June 2018 and has already received EUR 12.9 million of distributions until 31 January 2024; upon closing of the sale transaction, total distributions received by Princess are expected to amount to approximately EUR 83 million¹.

·    Completion of the transaction is expected by the end of 2024 and is subject to regulatory approvals and other customary closing conditions.

Founded in 2008 and headquartered in McKinney, Texas, SRS Distribution has grown to become one of the fastest-growing building products distributors in the United States. Since its inception, it has established a differentiated growth strategy and entrepreneurial culture that is focused on serving customers, partnering with suppliers, and attracting the industry's best talent. SRS Distribution currently operates under a family of distinct local brands encompassing more than 760 locations across 47 states. For more information, visit www.srsdistribution.com.

Ends.

About Princess

Princess is an investment holding company founded in 1999 and domiciled in Guernsey. It invests in private equity direct investments. Princess is managed in its investment activities by Partners Group, a global private markets investment management firm with USD 147 billion in investment programs under management in private markets, of which USD 76 billion is in private equity. 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

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.