HarbourVest Global Private Equity (HVPE) investor relations material

Governance and Shareholder Initiatives

• Introduced investor-friendly governance, including a market-leading tender offer for 10% of shares at a 10% discount, open to all shareholders and subject to a vote at the AGM on July 15.

• Ongoing commitment to annual tenders of 5–10% of NAV until the next continuation vote, with over $500 million to be returned to shareholders this year.

• Distribution pool allocation doubled to 30% of gross incoming cash, primarily used for buybacks and special dividends.

• Investment structure to be simplified, with a continuation vote and biannual secondary sale reviews.

• Strong encouragement for shareholder participation in the AGM and continuation vote.

Portfolio Performance and Structure

• Achieved a 10-year share price total return of 260% in GBP and a 13.5% annualized USD portfolio return.

• NAV per share return for the year ended January 2026 was 9.7% in USD, with 537 portfolio company exits and a 13.6% share price total return in GBP.

• Portfolio is highly diversified: over 1,000 private company exposures, 60% buyout, 32% venture/growth, and 8% private credit/infrastructure.

• Exposure to 16 of the world’s 20 largest unicorns and 38 of the top 50, including OpenAI, Anthropic, Stripe, and SpaceX.

• Portfolio companies showed 12.7% weighted average revenue growth and 13.3% EBITDA growth, with 66% increasing EBITDA.

Liquidity, Buybacks, and Financial Resources

• Over $327 million in share buybacks since 2022, adding nearly 7% to NAV per share.

• $123 million in cash and $630 million available on a revolving credit line as of January 2026, both improved since then.

• Asset sale in December generated $300 million at a 6% discount to NAV, strengthening liquidity.

• Net $54 million cash received over the year, with distributions rising and capital calls declining.

• Distribution pool balance reached $184 million, funded by 30% of distributions and secondary sale proceeds.