(LSE: PEY/PEYS)

Partners Group Private Equity Limited

PGPE Ltd publishes Half-Year Report 2026

Results presentation webcast details

Partners Group Private Equity Limited today published its Half-Year Report for 2026. The key highlights are:

·    Further to the announcement in June of a proposed dual share class structure, a circular and prospectus providing details of the structure, for approval and election, will be sent to shareholders in early September.

·    The first half of 2026 was characterized by heightened geopolitical uncertainty, intermittent market volatility and evolving economic policy expectations. Events in the Middle East, shifting interest rate expectations, and ongoing concerns around growth and inflation contributed to a softer trading environment and selective pressures on valuations.

·    Against this backdrop, PGPE Ltd. faced a challenging reporting period, with the Company's NAV declining 8.6% on a total return basis, including dividends paid to shareholders. Portfolio developments (-8.6%) were the primary driver of the decline, while favorable currency movements provided a partial offset (+1.0%). Despite this decline, which was driven by a limited number of investments, realization activity remained robust, with the Company receiving proceeds equivalent to approximately 14% of net assets during the period. This demonstrated the continued ability of the portfolio to generate liquidity across varying market conditions.

·    A total of EUR 35.7 million was returned to shareholders during the first half of 2026, comprising EUR 22.3 million through the first interim dividend paid to shareholders in June and EUR 13.4 million through share buybacks. The dividend distribution reflects the importance placed by the Board on regular and predictable shareholder distributions in line with the Company's dividend policy. The Company continued to execute its share buyback program announced in October 2025, with EUR 15 million allocated to share buy backs in October 2025 and a further EUR 18 million allocated in April. The Company has extended the program through to 30 September 2026, enabling utilization of the remaining allocated amount.

·    Distribution activity remained robust during the first half of 2026, with PGPE Ltd receiving total proceeds of EUR 110.6 million. The amount includes EUR 37 million from listed holdings, primarily Galderma and Vishal. Other notable realizations during the period included Clario and Convex Group. Distribution proceeds supported capital returns to shareholders, funded limited new investment activity and further strengthened the Company's liquidity position.

·    During the reporting period, the Investment Manager transacted cautiously amid geopolitical and macroeconomic uncertainty and in light of high valuations for many assets. The Investment Manager continues to build its solid investment pipeline, ready for execution in a more normalized environment. In the first half of 2026, the Company invested a total of EUR 13.5 million, of which EUR 12.0 million was allocated to three new smaller investments. PGPE Ltd also made several add-on investments in existing portfolio companies to support ongoing operations and strategic acquisition pipelines.

·    PGPE Ltd remains well positioned from a liquidity perspective. As of 30 June 2026, the cash balance of PGPE Ltd stood at EUR 51.2 million and the revolving credit facility of EUR 150 million was undrawn.

Peter McKellar, Chair of PGPE Ltd, said:

"The geopolitical and macroeconomic environment in developed economies remains challenging, with elevated interest rates and concerns around growth, corporate profitability and inflation. This continues to have an impact on private equity transactional activity across the broader market. Against this background, the Investment Manager remains focused on delivering new and existing value creation initiatives at investee companies. For the Board, the focus is on finalising, and executing on, the reconstruction proposals to be sent to shareholders in September."

A detailed analysis and commentary on the developments of PGPE Ltd during H1 2026 is presented in the Half-Year Report published today, which can be accessed via:

https://www.partnersgroupprivateequitylimited.com/investors/reports-and-presentations

PGPE Ltd will hold an investor update today Thursday, 27 August 2026 at 10:00 AM BST / 11:00 AM CEST. During the webcast, Partners Group, the Investment Manager of the Company, will give an update on the recent developments of the PGPE Ltd portfolio based on unaudited figures as of 30 June 2026.

Please find the registration details here.

The results presentation is now available on the Company's webpage, under Investors - Reports & Presentations section.

Ends.

About Partners Group Private Equity Limited

PGPE Ltd is an investment holding company founded in 1999 and domiciled in Guernsey. It invests in private equity direct investments. PGPE Ltd is managed in its investment activities by Partners Group, one of the largest firms in the global private markets industry, with USD 186 billion in investment programs under management in private markets, of which USD 79 billion is in private equity. Partners Group itself is listed on the Swiss Stock Exchange (ticker: PGHN). PGPE Ltd aims to provide shareholders with long-term capital growth and an attractive dividend yield. PGPE Ltd is traded on the Main Market of the London Stock Exchange (ticker: PEY for the Euro Quote; PEYS for the Sterling Quote).

Contacts

Partners Group Private Equity Limited:

[email protected]

www.partnersgroupprivateequitylimited.com

Registered Number: 35241   LEI: 54930038LU8RDPFFVJ57

Notes:

1.     Note that references in this announcement to Partners Group Private Equity Limited have been abbreviated to "PGPE Ltd" or "the Company". References to Partners Group AG have been abbreviated to "Partners Group" or "the 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 Partners Group Private Equity Limited. 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.

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 PGPE Ltd's website nor the contents of any website accessible from hyperlinks on PGPE Ltd's website (or any other website) are incorporated into, or form part of, this announcement.