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

NEWS RELEASE

Zurich, January 14, 2026

Net Asset Value as of December 31, 2025

As of December 31, 2025, the Net Asset Value (NAV) per share of Private Equity Holding AG (PEH) stood at EUR 152.52 (CHF 142.01), representing a change of -0.6% in EUR (-0.7% in CHF) since November 30, 2025.

In December, PEH's portfolio performance in fund currency was positive, largely driven by the share price appreciation of Shawbrook Bank, a direct co-investment listed on the London Stock Exchange since October 2025. While several portfolio funds recorded positive valuation adjustments, these gains only partially offset adverse FX movements at the overall portfolio level, resulting in a slightly negative total performance for the month.

The portfolio was cash-flow positive during the reporting period, with total distributions of EUR 12.3m significantly exceeding the EUR 5.1m paid into the portfolio. This substantial inflow was primarily driven by two major events: a distribution from Eagletree III following the sale of Moss, a global leader in experiential marketing and visual communications, and the successful exit of a direct co-investment in a healthcare provider.

During the month, PEH AG sold 1% of the Luxembourg subsidiary PEF SA at NAV to a related party. Further, the credit facility arrangement was increased to EUR 40m and has a new term ending December 31, 2028.

                                                                               ***

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 2,444,104 as of December 31, 2025 (November 30, 2025: 2,444,104). 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.