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

NEWS RELEASE

Zurich, August 13, 2025

Net Asset Value as of July 31, 2025

As of July 31, 2025, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 153.99 (CHF 143.05), representing a change of 0.8% in EUR (0.3% in CHF) since June 30, 2025 (including the dividend of CHF 1.00 paid on July 1, 2025).

PEH's portfolio performance was positive in July, driven by favourable FX movements. Several portfolio funds had notable positive valuation adjustments, including TA Associates XIV, a fund focusing on buyout and growth capital for high-growth, mid-market companies in North America and Europe, and Mid Europa Fund IV, a fund targeting mid-market buyout investments in Central and Eastern Europe.

The portfolio was cash-flow negative in July, with total distributions amounting to EUR 2.6m vs. EUR 3.3m paid into the portfolio. PEH received noteworthy distributions from Mid Europa V, distributing proceeds from the sale of Mlinar, the largest bakery group in the Adria region, as well as from TA Associates XIV, distributing proceeds from two transactions, namely Cliffwater, an independent alternative investment adviser, and esPublico, a software and data provider for the Spanish public sector.

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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 2,445,862 as of July 31, 2025 (June 30, 2025: 2,445,862). 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.