Private Equity Holding AG: Net Asset Value Net Asset Value as of May 31, 2023

NEWS RELEASE

Zug, June 12, 2023

Net Asset Value as of May 31, 2023

As of May 31, 2023, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 155.95 (CHF 151.84), representing an increase of 3.8% in EUR (2.9% in CHF) since April 30, 2023.

PEH's portfolio performance was positive in May. The strong NAV increase results from both favourable FX developments and positive valuation adjustments for several portfolio funds including Pelion VI and Abry IX and the direct co-investments in dss+, a specialized consulting company, Guala Closures, a market leader in the production of aluminium and “non-refillable” closures, and Earnix, an artificial intelligence software provider for the insurance industry.

The portfolio was cash-flow positive with total distributions amounting to EUR 2.6m vs. EUR 2.0m paid into the portfolio. PEH received noteworthy distributions from Abry IX, distributing proceeds from the fund's exit of Reward Gateway, a SaaS based employee engagement platform, as well as from Evolution Technology, distributing proceeds from the sale of LogPoint, a cybersecurity platform.

In early June, PEH received a significant distribution of USD 20.7m from the sale of 80% of its direct co-investment in dss+, in which PEH co-invested USD 4.2m in 2019 alongside Gyrus Capital. The partial realisation strengthens PEH's liquidity base and allows PEH to pay back a large tranche of the outstanding credit facility and to pay the dividend, which was approved by shareholders at the Annual General Meeting which took place in Zug, on June 5, 2023.

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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 2,505,606 as of May 31, 2023 (April 30, 2023: 2,505,606). 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.