Private Equity Holding AG — AGM Information 2009

Jun 25, 2009

Private Equity Holding AG

12th Annual General Meeting

Dr. Hans Baumgartner g Chairman of the Board of Directors

Dr. Peter Derendinger CEO Alpha Associates AG

Zug, June 25, 2009

• 1. Address of welcome
• 1. Approval of the Annual Report the Consolidated Annual Report, Annual Financial Statements and the Financial Statements of the Financial Year 2008/2009; Application of the Deficit
• 1. Discharge of the Board of Directors
• 1. Election to the Board of Directors
• 1. Election of the External Auditors
• 1. Renewal Authorized Capital
• 1. Miscellaneous

1. Address of welcome

2. Approval of the Annual Report, the Annual Financial Statements and the Consolidated Financial Statements of the Financial Year 2008/2009

The Board of Directors proposes

• – to approve the Annual Report, the Annual Financial Statements and the Consolidated Financial Statements of the Financial Year 2008/2009, and
• –that the deficit of CHF 14.748 million be carried forward.

Financial Year 2008/2009Key gu es ( ) Figures (1)

E U R M i o.		1 2 t h m o n s 0 1. 0 4. 0 8- 3 1. 0 3. 0 9	1 2 t h m o n s 0 1. 0 4. 0 7- 3 1. 0 3. 0 9	A t b l c c e p a e r e s
C h i G i / ( L ) o m p r e e n s e a n o s s v		( 2 4. 4 )	2 8. 4	f f i d i i l t n a c u
I n c o m e I i t m p a r m e n		( ) 7. 5	5 0. 3	i t e n v r o n m e n
		( 3 2. ) 5	( 6. 1 )	( f in ia l c is is h ig h an c r , la t i l i ty ) vo
O t i l E E p e r a o n a p p e e n n s s e e s s x		( ( 2 2. 2 2 ) )	( ( 7 7. 5 5 ) )
C h i F i V l R a n g e n a r a u e e s e r v e		1 8 7.	( 8. 3 )	H i h l i i d i t g q u y
				( d t c o m p a r e o
E U R M M i i o o.	3 3 1 1. 1 1 2 2. 0 0 8 8	3 3 1 1. 0 0 3 3. 0 0 9 9	3 3 1 1. 0 0 3 3. 0 0 8 8	) p e e r s
T t l A t o a s s e s	2 0 0. 9	1 8 6. 6	2 1 6. 7
h f l t t t e r e o o n g e r m a s s e s -	1 3 7 5.	1 6 4. 9	1 6 1. 3	f D b t- e r e e
t h f t t e r e o c r r e n a s s e s u	2 5. 7	2 1. 7	5 5. 4	b l h t a a n c e s e e
P b l d d a y a e s a n a c c r u e e x p s e n s e s	6. 2	4. 7	8. 0	( ( t t fo f d d ex ce p r a cc ru e fo fe h ic p er rm an ce es w ,
T l h h l d ' i t t o a s a r e o e r s e q u y	1 9 4. 7	1 8 1. 9	2 0 8. 7	ly du f fu t o tu on e ou re
U f d d C i t t n u n e o m m m e n s	1 0 0. 1	9 9. 6	8 4. 6	f ) i ts p ro

31.03.09 Acceptable result in a difficult environment(financial crisis, high FX volatility)

Debt-free balance sheet(except for accrued performance fees, which are only due out of future profits)

Financial Year 2008/2009Key gu es ( ) Figures (2)

• Distributions- Fund and Direct Portfolio EUR 8.2m Earn-O t u EUR 4 6 4.6m Investments EUR 36.5m New Commitments EUR 44.7m Treasury Shares 31 03 2009 31.03.20095 01% . 31.05.20094.94%
• Management Transactions 1 4 2008 1.4.2008-31 5 2009: 31.5.2009:

Board members and Management bought a total of approx. 28'000 shares for the amount of approx. CHF 650 000 ' during the last 14 months (published on www.six-swiss-exchange.com).

Development Fair Value and Share Price

Development PEHN vs. LPX-50 vs. Peers (0 0 0 1. 1. 7 – 3 05 09) 1.05.09)

Private Equity Holding AG

Development PEHN vs. Peers(1.1.2007-31.05.2009)

Financing of the Portfolio

Debt-Free Balance Sheet ( ) numbers as of 31.03.2009)

PortfolioAsset ocat o Allocation

Portfolio Breakdown By Stage1

PortfolioAsset ocat o Allocation

Portfolio Breakdown By Geography as of March 31, 20091

1 Based on fair values of underlying companies ¹²

PortfolioAsset ocat o Allocation

Portfolio Breakdown by Vintage Year1

1 Based on fair values of the fund investments, excl. earn-out portfolio

Private Equity Holding AG

New Investments since Re-Start in Q1-2007 De e s e o t o o due to o tufensive Portfolio to Downturn

	E & C E E u r o p e	U S	N M
B t u y o u	C A L P H A E E I I ƒ In du i Ka i l 2 0 0 7 tr ta s p ƒ Ca is I I I p v ƒ Br i dg in I V t ep o ƒ Inv t in du tr ia l I V es s ƒ M i les to 2 0 0 7 & 2 0 0 8 ne ƒ	Ca Av is ta i ta l Pa tn p r er s ƒ ( d p im ) ag e r ar y Av is Ca i l Pa I I ta ta tn p r er s ƒ A B R Y Pa V I tn r er s ƒ ( W bu P inc X lo ba l ar rg us g ƒ i ion i i l l ) ) t ta ex p an s ca p	o e g a B t F d u y o u o n s A i d d I d i & v o e n a C h i H n a y p e
V t e n u r e	Ke t I I I nn e ƒ	Ins t i tu t ion l Ve tu Pa tn X I I a n re r er s ƒ	S N E l t o a r y a g e V t e n u r e
S S / i l i t t i p e c a u a o n s S d i / e c o n a r e s D i t d s r e s s e	C ( / O ) E A da R F R se co n ry ƒ 1 7 Ca i ta l Fu d p n ƒ ( ine fo me zz an r ) da ies se co n r	O O C C M M O Op t tu i i t t i ies V I I p or n ƒ O C M Op i ies V I I b tu t p or n ƒ W L R Re Fu d I V co ve ry n ƒ O C M Eu Pr inc ip l ro p ea n a ƒ Op tu i t ies Fu d I I p or n n Fr isc Pa I ( da ) tn an c o r er s se co n ry ƒ A B R Y A A d dv S Se i i t t ies i F Fu d d cu r n ƒ	F o c u s o n S d i e c o n a r e s d D i t d a n s r e s s e
D i C I t t t r e c o- n v e s m e n s	Ac ta no ƒ	Ep ice t p ƒ	F d u n s

Financial Year 2008/2009Ne Co t ^e ts ( /3) w Commitments (1/3)

Kennet III EUR 5 m

• EUR 200 illi E th it f d200 million European growth equity fund
• Focus on information technology businesses (software, semiconductors, communication systems)
• Team has been investing successfully in high growth technology businesses since 1997
• Kennet I and II are top quartile funds

OCM European Principal Opportunities Fund II EUR 5 m

• EUR 1 7 billion special situations fund 1.7 situations
• Focus on distress-for-control opportunities and special situations in the European market
• Fund manager has ^a longstanding and experienced team, a solid track record and a strong reputation in investing in distressed assets 15

Private Equity Holding AG

Financial Year 2008/2009Ne Co t ^e ts ( /3) w Commitments (2/3)

Milestone 2007 und Milestone 2008 EUR 5 m

• EUR 19 3 illi id19.3 million mid-mark tb tf d ket buyout fund
• Focus on lower UK and French mid-market buyout segment and diverse sectors

Francisco Partners I USD 2.9 m

• USD 2.5 billion buyout fund
• Attractive secondary transaction
• Focus on IT companies worldwide with ^a majority in the US.
• Fund is fully invested
• One of the largest and most recognized technology One focused buyout firms

Private Equity Holding AG

Financial Year 2008/2009Ne Co t ^e ts (3/3) w Commitments

17 Capital Fund EUR 10 m

• EUR 200 illi it d i f d200 million equity and mezzanine fund
• Provides preferred equity and mezzanine financing for private equity secondary market transactions

Avista Capital Partners II USD 10 m

• USD 3 billion mid-market buyout fund
• Focus on mid-market investments in energy, healthcare & media primarily in media, the US
• Team is a leading US mid-market fund manager with an outstanding track record

Private Equity Holding AG

Earn-out Portfolio as of March 31, 2009 12 Fu ds, ^a y uyout nds, mainly Buyout( ^g Vinta e Years 1997-2000)

E U R M io.	3 1. 0 3. 2 0 0 9	E O t a r n- u
f f f f f f F F i i V V l l t t h h E E t t P P t t l l i i M M h h 3 3 1 1, 2 0 0 3 a r a e o e a r n- o o r o o a s o a r c u u	1 1 7 7 1 1. 4 4 4 4 3 3	b k t g o e s a c o P E H t o
C C C S 1, 2 0 0 3 i t l l l F d d b F B i A i l a p a a s n e s n c e p r u y	9. 6 4 7 7
D d i f f d i d b C S F B S i L i f t t t e u c o n o r p r e e r r e r e u r n p a y o w s s e	4. 9 4 7	t t i r e s r u c u r n g
T l D i i b i i d b C S F B i l D b 3 1, 2 0 0 8 t t t t o a s r u o n s r e c e v e y u n e c e m e r	3 2 4. 5 2 1	i H 1- 2 0 0 3 n
A t F i V l f E t P t f l i f D b 3 1, 2 0 0 8 g g r e g a e a r a u e o a r n- o u o r o o a s o e c e m e r	6 7. 8 4 9
( ) E t P t 0 1. 0 1. 0 7 3 1. 0 3. 0 8 a r n- o a m e n s u y -	( ) 3 9. 7 8 0	O b l i i g o r s a P E F d f
( 0 1. 0 0 8 - 3 1. 0 3. 0 9 ) E t P t 4. a r n- o a m e n s u y	( 6 3 ) 4. 4	u n o C S
T l E P ( 0 1. 0 1. 0 3 1. 0 3. 0 9 ) t t t 7 – o a a r n- o u a y m e n s	( 4 4. 4 1 4 )

E U R M i o.	3 1. 0 3. 2 0 0 9	3 1. 1 2. 2 0 0 8	3 0. 0 9. 2 0 0 8	3 0. 0 6. 2 0 0 8	3 1. 0 3. 2 0 0 8	3 1. 1 2. 2 0 0 7
T l l f E t t o a v a u e o a r n- o u	1 0 5. 5 3 5	1 1 0. 8 5 1	1 1 5. 7 6 3	1 1 1. 6 0 6	1 1 2. 2 1 8	9 4. 5 7 5
/. ( ) E t P t i d l t i a r n- o u a y m e n s r e c e v e c u m u a v e	( 1 ) 4 4. 4 4	( 1 ) 4 4. 4 4	( 1 9 ) 4 4. 4	( 0. 9 6 2 ) 4	( 3 9. 8 0 ) 7	( 3 6. 1 1 1 )
B l S h t V l f R i i E O t a a n c e e e a u e o e m a n n g a r n- u	6 1. 1 2 1	6 6. 4 3 7	7 1. 6 1 4	7 0. 6 4 4	7 2. 4 3 8	5 8. 4 6 4
I / D i V l i R i Q t t n c r e a s e e c r e a s e n a u e n e p o r n g u a r e r	( 5. 3 1 7 )	( 4. 9 1 2 )	4. 1 5 7	( 6 1 2 )	1 7. 6 4 2	( 6. 5 7 9 )

3. Discharge of the Board of Directors

The Board of Directors proposes that discharge be granted to the corporate bodies for their activities during the financial year 2008/2009.

4. Election to the Board of Directors

The period of office of the present Members of the Board of Directors expires as of this Annual General Meeting. All the acting Members of the Board of Directors stand for reelection. The Board of Directors of Private Equity Holding AG proposes to re-elect Dr. Hans Baumgartner, Dr. Hans Christoph Tanner and Stuart D. Frankel to the Board of Di t f t di th d f th 2010 A l Directors for a term ending on the day of the Annual General Meeting.

5. Election of the Auditors

The Board of Directors proposes that KPMG AG, Zurich, be elected for a one-year term of office as new auditors.

6. Renewal Authorized Capital

The Annual General Meeting held on June 19, 2007 authorized the Board of Directors to increase the company's share capital until June 18, 2009 by a maximum of CHF 16,000,000 through th i f i f 2 000 000 h the issuance of a maximum of 2,000,000 shares with CHF ith 8 nominal value each. The Board of Directors did not make any use of this authorization and the issuance period expires in June 2009 The Board of Directors proposes that the Annual General 2009. Directors proposes Meeting approve the creation of a new authorized capital, thereby giving the company the flexibility to react quickly at any time in the next two years to raise additional equity in the market the if conditions are favorable and the issuance of new shares is in the best interest of the Company. The main purpose of any increase in capital would be to further diversify the current to portfolio. It therefore proposes that the Annual General Meeting approve the following amendment to Art. 3a of the by-laws:

23

Private Equity Holding AG

Agenda Item 6

"1 The Board of Directors is hereby authorized to increase the company's share capital pursuant to Art. 3 of the by-laws by a maxi f CHF 16 000 000 th h th i f imum of 16,000,000 through the issuance ofa maximum of 2,000,000 shares with CHF 8 nominal value each, all to be fully paid up, such authorization to be effective until June 24, 2011. The increases may be underwritten or may be effected in partial amounts. The subscription price, the date on which the shares will rank for dividends and the kind of contribution shall be determined by the Board of Directors Directors.

Private Equity Holding AG

Agenda Item 6

2 The Board of Directors is entitled to waive the preemptive rights of the shareholders and to allocate subscription rights to third parti if th i t d h t b d b th ties, the new registered shares are to be used by the company or a group company to acquire companies, company divisions or private equity portfolios. If, in connection with corporate acquisitions, the company assumes any obligations to convert warrants or warrants convertible bonds into shares, then the Board of Directors is entitled to issue new shares waiving the preemptive rights of the shareholders in order to meet such obligations Apart from these obligations. from exceptions shareholders shall have preemptive rights.

3 Registered shares for which subscription rights have been granted but not exercised shall be sold in the market at current prices."

7. Miscellaneous

Thank you very much for your att ti enon.