Net Asset Value as of August 31, 2024

NEWS RELEASE

Zug, September 12, 2024

Net Asset Value as of August 31, 2024

As of August 31, 2024, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 158.55 (CHF 148.95), representing a change of -0.9% in EUR (-2.3% in CHF) since July 31, 2024.

Valuation adjustments at the portfolio level were mostly positive and included Clarus IV, Highland Europe I, and Highland Europe II, as well as the direct co-investment in artificial intelligence software provider Earnix and another direct co-investment in one of the leading premium integrated private healthcare provider in Romania and Serbia; however, they could not fully compensate the adverse FX movements throughout the month.

In August, the portfolio was cash-flow positive with total distributions amounting to EUR 6.2m vs. EUR 4.0m paid into the portfolio. The biggest distribution was received from Highland Europe I distributing proceeds from its investment in WeTransfer, a cloud-based file transfer service company.

A notable capital call was received from Abry IX, to fund the acquisition of Chambers, a global provider of independent legal research and analysis.

In August, PEH committed USD 6.0m to Insight Partners XIII, a fund targeting growth-stage software-enabled services and internet companies globally.

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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 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 +41-44-515 70 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 2,466,855 as of August 31, 2024 (July 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.