Castle Private Equity : September 2021

In USD and unaudited, unless otherwise stated

NAV update as at 30 September 2021

Monthly net return*

Year to date* net return

NAV per share

NAV per share in CHF

Share price as at 30 September 2021

Price in CHF

Year to date price return in CHF

Premium / discount in CHF

Portfolio information

Net asset value (USD million)

Private equity assets (USD million)

Investment degree

Net liquidity** (USD million)

Net liquidity** monthly change (USD million)

Uncalled commitments (USD million)

Uncalled commitments (% of NAV)

Shares in circulation (million, net of buybacks)

CHF / USD exchange rate

*from audited December NAV. Adjusted for distribution on 21 May 2021

**cash + short-term assets - bank debt and other liabilities

www.castlepe.com

Monthly report - 30 September 2021

	CastlePE's net asset value increased by 1.9 per cent during September.
1.9%	The positive monthly investment result was mainly driven by exits and
valuation increases throughout the portfolio, namely the write-up in the
19.5%
valuation of Summit Partners Europe Private Equity Fund L.P and EOS
15.38
Capital Partners IV, L.P.
14.35

The positive investment performance was slightly decreased by the 1.8 per cent decrease in the value of the Euro versus the Dollar during the month

9.00 resulting in an unrealised currency loss of USD 0.6 million.

-10.0%

-37.3% September's cash flows were once again favourable: CastlePE received distributions of USD 2.4 million, while overall investment outflows in the month were not significant. Uncalled capital ended the month at USD 44.5

1. million or 28.6 per cent of net asset value.

84.1%

24.7

2.3

44.5

28.6%

10.105

0.93

NAV by investment stage as at 30 September 2021		NAV performance in USD from April 1997 to September 2021
	distressed	balanced	20		10%
	4%
	2%	18
	large buyout		8%
	early VC
	3%	16
	26%		6%
			14		4%
			12		2%
			10		0%
			8
			6		-2%
mid buyout		late VC
	4		-4%
42%		6%
		growth	2		-6%
		4%	0		-8%

small buyout	Mar 97 Mar 99 Mar 01 Mar 03 Mar 05 Mar 07 Mar 09 Mar 11 Mar 13 Mar 15 Mar 17 Mar 19 Mar 21
13%
			Monthly returns	Net asset value

Monthly net returns (%), NAV in USD (from April 1997 to September 2021)

		Jan		Feb		Mar		Apr		May
2021		0.74		1.20		2.20		1.68		8.51	1
2020		-1.04		-0.24		0.18		1.73		-2.87
2019		-0.31		-0.48		-0.19		-0.26		1.20
2018		0.44		-1.40		2.17		0.31		0.15
2017		0.36		0.36		1.17		0.92		0.78
2016		-0.05		0.15		1.55		0.17		0.17
2015		-0.86		0.44		0.70		1.09		0.55
2014		-0.54		1.76		2.64		0.32		1.50
2013		0.70		-1.04		0.02		0.80		2.06
2012		-0.36		1.48		0.77		1.97		-0.03
2011		-3.27		5.34		1.76		2.54		1.35
2010		-3.05		2.09		2.43		0.12		0.87
2009		6.25		-9.55		-1.14		-2.60		-0.64
2008		1.25		0.76		0.86		-0.35		-1.40
2007		1.48		3.57		5.12		0.86		2.54
2006		1.90		0.11		3.69		3.39		1.47
2005		-0.66		2.53		1.85		1.35		-0.32
2004		0.10		1.07		-0.74		0.32		1.39
2003		-0.98		-1.10		-1.81		-0.91		-0.24
2002		-1.06		-1.51		-3.24		-2.51		-2.33
2001		-1.24		-2.64		-1.54		-1.72		-3.01
2000		9.64		0.52		0.54		13.18		3.03
1999		0.00		0.00		0.00		0.00		0.64
1998		0.00		0.00		0.98		0.00		0.00
1997								0.00		0.22

Source: LGT CP / Bloomberg

1 The Net performance for May 2021 is adjusted for the dividend payment of USD 3.33 (CHF 3.00) per share. Please see disclaimer on the last page of this document.

Jun	Jul					Aug		Sep		Oct		Nov		Dec		YTD
2.47	2.14			-0.48		1.88								19.45	1
-2.64	1.29			1.17		0.28		-0.72		6.50		0.15		3.54
1.05	-0.09			0.33		-0.24		-0.50		0.43		0.75		1.35
1.32	0.11			0.09		-1.69		-1.02		2.21		-0.14		5.25
1.47	0.84			1.36		0.11		0.08		0.82		0.51		9.13
-0.32	1.29			0.73		1.09		0.07		0.80		0.85		6.68
2.04	0.21			1.84		0.69		0.03		-0.16		0.30		7.07
1.17	-1.02			1.15		0.30		0.15		0.86		-1.70		6.71
0.27	0.47			1.24		1.81		-0.05		2.41		1.98		11.12
1.30	-1.05				0.61		0.55		0.94		0.86		2.93		10.35
1.34	-0.20				1.03		-0.55		-0.42		-2.59		0.94		7.20
0.28	1.92				0.42		2.97		2.78		0.90		7.59		20.73
-0.74	4.94				-0.22		0.62		3.10		2.89		1.45		3.48
0.64	-0.51				-3.72		-3.17		-11.87		-4.87		-12.79		-30.99
1.19	1.45				4.13		2.13		2.78		2.82		0.23		32.13
1.01	-0.04				1.03		-0.05		0.18		4.52		2.44		21.37
2.16	1.64				2.66		0.24		-0.68		4.48		0.75		17.07
1.90	0.79				1.15		1.70		-0.21		2.55		2.20		12.86
-0.61	0.59				0.17		0.57		1.60		3.42		1.54		2.14
-1.76	0.44				-2.53		-1.28		-1.03		-0.31		-2.68		-18.14
-2.96	-1.14				-3.52		-0.73		-2.30		-5.40		-0.82		-24.00
-0.36	-0.14				8.75		-0.34		6.43		-0.21		0.52		48.74
2.66	5.70				0.01		1.30		2.89		0.02		0.06		13.92
-0.38	0.00				0.00		2.44		0.00		0.00		4.25		7.43
0.00	0.87				0.00		0.58		0.00		0.00		-0.29		1.38

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NAV, price and premium/discount

Listing to September 2021, in CHF

25					90%
20					60%
15					30%
10					0%
5					-30%
0						-60%
Mar 97Mar 99 Mar 01 Mar 03Mar 05 Mar 07Mar 09 Mar 11 Mar 13 Mar 15 Mar 17 Mar 19 Mar 21
			Premium/Discount CHF	NAV CHF	Price CHF

Key facts

Investment manager

LGT Private Equity Advisers

Investment adviser

LGT Capital Partners

Custodian*

BNP Paribas Fund Administration Services Ireland Limited

Auditor

PricewaterhouseCoopers

Swiss legal counsel

Niederer Kraft & Frey

Fees

1.0% management fee and 10% performance fee (subject to high watermark of USD 932.8 million)

Market quote

Quoted and traded daily in CHF on SIX

Listing date

CHF: 7 September 1998

ISIN/Valor

CH004885474

Bloomberg

CHF: CPEN SW

*of the company's main subsidiary in Ireland

Company structure

Castle Private Equity AG ("the Company") is a joint stock corporation established for an indefinite period in the Canton of Schwyz, Switzerland, by deed dated 19 July 1997. The Company's shares have been listed in Swiss Francs on the SIX Swiss Exchange since 7 September 1998 and in US Dollars since 21 January 2002. Trading in CastlePE's USD shares was discontinued on 31 October 2016.

On 21 May 2019 Castle Private Equity Ltd. announced a share buyback programme by issuing put options tradable on SIX Swiss Exchange. Every 20 put options entitled shareholders to tender one registered share at the exercise price of CHF 20.00. In total, 547,654 registered shares were tendered. Furthermore, following the termination of the buyback via issuance of tradable put options, the Board of Directors of Castle Private Equity Ltd. decided to launch a new share buyback programme on a second trading line at SIX Swiss Exchange. It started on 14 June 2019 and a maximum of 578,598 registered shares (maximum 3.21% of the share capital and voting rights registered in the commercial register) will be purchased for cancellation purposes. On 10 August 2020, Castle cancelled 849,410 shares as approved at the general meeting of shareholders on 12 May 2020.

As of 30 September 2021, Castle held 308,371 shares from the previous buyback program, which was completed on 18th March 2021.

Swiss Security Number: 4885474

Board of directors	Address
Gilbert Chalk (Chairman)	Castle Private Equity AG
Konrad Baechinger (Deputy Chairman)	Schuetzenstrasse 6, CH-8808 Pfaeffikon SZ, Switzerland
Thomas Amstutz
Heinz Nipp
For further information, please contact
Benedikt Meyer, GM, tel. [phone]

Disclaimer

This document is for the intended recipient only and may not be passed on or disclosed to any other person. This document is solely for information purposes and does not constitute an offer to sell or an invitation to invest. In particular, it does not constitute an offer or solicitation in any jurisdiction where it is unlawful or where the person making the offer or solicitation is not qualified to do so or the recipient may not lawfully receive any such offer or solicitation. It is the responsibility of any person in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of relevant jurisdictions.

The information and any opinions contained herein have been obtained from or are based on sources which are believed to be reliable, but their accuracy cannot be guaranteed. No responsibility can be accepted for any consequential loss from this information. Prospective investors should rely only on the information contained in the Company's prospectus. Prospective investors should also inform themselves, and should take appropriate advice, on the legal requirements and as to the possible tax consequences, foreign exchange restrictions or exchange control requirements that they may encounter under the laws of the countries of their citizenship, residence or domicile and that may be relevant to the subscription, purchase, holding, exchange, redemption or disposal of any investments. Performance numbers shown are records of past performance and not an indication of future performance. See also http://www.castlepe.com/en/cpe/disclaimer.html

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