Private Equity : Profile März 2024

PRIVATE EQUITY HOLDING AG

March 2024

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ACCESS TO LEADING PRIVATE EQUITY & VENTURE CAPITAL FUNDS AND ATTRACTIVE DIRECT CO-INVESTMENTS

Private Equity Holding AG is a listed investment company for private equity and venture capital investments (SIX: PEHN). 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 leading funds and attractive direct co-investments. Income generated by the portfolio is used for new investments, share buybacks, and annual dividends, which form the three pillars of the strategy.

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01 EXECUTIVE SUMMARY

02 STRATEGY

03 INVESTMENT EXAMPLES

04 PERFORMANCE

05 SUMMARY

EXECUTIVE SUMMARY

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EXECUTIVE SUMMARY

PEH 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.

SIX Swiss Exchange

Shareholders

BoD

PEH AG

Portfolio

• Private Private Equity Holding AG (PEH) is a SIX-listed investment company that invests in funds and direct investments.
• Alpha Associates has been managing PEH's portfolio since 2004; since then, the NAV per share has increased by 426% (total return).
• Depending on the liquidity situation of the company and the discount level the balance between the strategic pillars (investments, share buyback, dividend payments) is adjusted.
• The aim is to further increase the NAV per share.

Management Agreement

31.12.2023

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EXECUTIVE SUMMARY

EXAMPLES

Private Equity &

Venture Capital

Fund Investments

80%

Direct Co-Investments

20%

PE and VC

Fonds a-n

A1

A2

An

31.12.2023

STRATEGY

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CONTINUOUS INCREASE OF THE COMPANY'S NAV PER SHARE

LONG-TERM GROWTH	NAV	CURRENT
OF THE PORTFOLIO	ACCRETION	YIELD

Selective commitments to	Purchase of	Annual
private equity & venture capital	treasury shares	dividend
funds as well as		payments
direct co-investments

ROBUST BALANCE SHEET & POSITIVE CASH FLOW FROM PORTFOLIO

PORTFOLIO DIVERSIFICATION

INVESTMENT STAGES

(Fair Value + Unfunded Commitments)

VINTAGE YEAR

(Fair Value)

9

3%

27%

42%

15%

13%

INDUSTRY SEGMENTS

(Fair Value)

Buyout Funds

Buyout Direct

Investments

Special Situation Funds

Venture Funds

Venture Direct

Investments

14% 2% 4%4%4%

5%

8%10%

14%

16%

13% 6%

GEOGRAPHIES

(Fair Value)

1997-2010	2011
2012	2014
2015	2016
2017	2018
2019	2020
2021	2022

8%

4% 1%

IT/Software Consumer

3%2%

Europe

10%

17%

42%

Financials

Industrials Health Care

44%51%

USA

MENA

Asia

18%

Materials

Other

31.12.2023

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DIRECTLY AND INDIRECTLY, PEH IS INVESTED IN MORE THAN 800 COMPANIES

IT / SOFTWARE 42%

CONSUMER 18%

FINANCIALS 17%

INDUSTRIALS 10%

HEALTH CARE 8%

31.12.2023