Monthly NAV Reporting

NEWS RELEASE

Zug, May 11, 2022

Net Asset Value as of April 30, 2022

As of April 30, 2022, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 155.74 (CHF 159.69), representing an increase of 1.5% in EUR (1.8% in CHF) since March 31, 2022.

PEH’s positive performance in April was largely driven by the favourable strengthening of the USD versus the EUR and a positive valuation adjustment of dss+, a co-investment alongside Gyrus Capital and global leader in health, safety and environmental consulting and operation risk management. dss+ had a good first quarter of the year and forecasts significant growth in revenues and profitability for the year. On the other side, there have been negative adjustments as well, mainly in respect of listed technology shares held by funds and PEH’s indirect exposure to non-listed investments in Russia.

PEH received noteworthy distributions from Abry Heritage, completing the sale of Aftermath, a trauma and biohazard remediation firm and from Abry VIII, distributing proceeds from the sale of MobileHelp, a medical alert service provider with telehealth capabilities. On balance, however, the portfolio cash-flow was negative in April. Notwithstanding, PEH reduced its bank debt by 38% using excess cash.

The Annual General Meeting will take place on June 2, 2022, and the invitation has been published on PEH’s website.

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Private Equity Holding AG (SIX: PEHN) is a listed investment company for private equity investments. It offers institutional and private investors the opportunity to participate in a simple and tax-efficient manner in a diversified and professionally managed private equity portfolio with selective fund and direct investments.

Income from the portfolio is partially reinvested, as well as passed on to the shareholders as annual distributions. Private Equity Holding’s portfolio is managed by Alpha Associates, an independent Private Equity, Private Debt and Infrastructure investment manager based in Zurich.

For further information, please contact:
Kerstin von Stechow, Investor Relations, Kerstin.Stechow@peh.ch, phone +41 41 726 79 80, http://www.peh.ch

The basis of the Net Asset Value Calculation and Disclaimer

The number of outstanding shares used for calculation of the Net Asset Value per share amounted to 2,524,604 as of April 30, 2022 (March 31, 2022: 2,524,604). The calculations are prepared in accordance with International Financial Reporting Standards (IFRS) and pursuant to the guidelines of Invest Europe (formerly known as the European Venture Capital Association). The valuations of the fund investments are based on the most recent reported net asset values (NAVs) of the funds. In estimating the fair value of unquoted direct investments, Private Equity Holding AG considers the most appropriate market valuation techniques. The fair value of listed direct investments is the market value. The NAV of Private Equity Holding AG is calculated at the end of each month under a going concern assumption and usually published within six trading days after the cut-off date. The different reporting cut-off dates of the individual companies and funds in which participations are held can lead to short-term distortions and cause discrepancies between the published NAV and the actual total value of Private Equity Holding AG's net assets.