Monthly NAV Reporting

NEWS RELEASE

Zug, May 14, 2024

Net Asset Value as of April 30, 2024

As of April 30, 2024, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 159.71 (CHF 156.54), which remains almost unchanged in EUR and represents a change of +0.7% in CHF since March 31, 2024.

The flat performance in April was a result of relatively small negative valuation adjustments for several portfolio funds offset by favourable FX movements and a few positive valuation adjustments in the portfolio. The largest positive valuation adjustment was recorded for Blossom II, a London-based European early-stage venture fund.

In April, the portfolio was cash-flow negative with total distributions amounting to EUR 0.7m vs. EUR 2.5m paid into the portfolio. PEH received distributions from Abry Senior Equity V relating to several investments including Powerfleet, a global leader of internet of things (IoT) software-as-a-service (SaaS) solutions, as well as from Alpha CEE II, which distributed proceeds from various transactions. Notable capital calls were received from various portfolio funds including Sycamore III that funded two transactions, namely the acquisition of SP Cruises, a cruise line based in Florida, and an add-on investment in Chateau Ste. Michelle, a Napa Valley based winery.

The Annual General Meeting of PEH will take place on June 3, 2024, in Zug.

***

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 Amundi 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 2,468,262 as of April 30, 2024 (March 31, 2024: 2,468,262). 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. 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.