Private Equity Holding AG: Net Asset Value as of March 31, 2025

NEWS RELEASE

Zürich, April 10, 2025

Net Asset Value as of March 31, 2025

As of March 31, 2025, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 163.28 (CHF 156.03), representing a change of -1.1% in EUR (+0.8% in CHF) since February 28, 2025, and of 2.9% respectively for the financial year 2024/2025 (in EUR, incl. distributions).

PEH's share price closed the financial year at CHF 75.00, representing a total performance of 8.6% over the past 12 months (incl. distributions).

At constant EUR/USD exchange rates, PEH's portfolio performance in March would have been significantly positive. However, the positive valuation adjustments in the portfolio could not fully compensate the adverse FX movements due to the substantial depreciation of the USD in the first half of the month. Among others, positive portfolio adjustments were recorded for Highland Europe III, Alpha CEE Opportunity V and Evolution Technology II as well as for PEH's direct co-investment in Earnix, an artificial intelligence software provider.

The portfolio was cash-flow positive with total distributions amounting to EUR 3.9m vs. EUR 3.0m paid into the portfolio. Noteworthy distributions were received from Alpha CEE Opportunity IV, related to proceeds from the IPO of Diagnostyka, a market leader in the laboratory diagnostics space in Poland, as well as from Pelion VI, which distributed proceeds from the sale of three stocks, namely Bill.com, a provider of automated, cloud-based software for financial operations, Weave, an integrated communications platform, and Red Cat Holdings, a drone technology company.

In the reporting period, PEH made a EUR 5.0m commitment to a Nordic mid-market fund with a focus on three categories: Technology Services, Business Software, and Scalable Business Models.

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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 2,449,045 as of March 31, 2025 (February 28, 2025: 2,454,601). 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.