PM Acket Press Release shaPE Capital AG - Annual results 2013

Freienbach, 2 April 2014

Solid fourth full year under realization strategy with a net asset value per share and share price increase of +6.5% and +33.9% respectively in 2013.

Strong fund distributions and secondary sales enable record distributions of CHF 56 per share to shareholders in 2013.

Harvesting and opportunistic secondary sales remain first priority of realization strategy; role of share buybacks expected to further diminish due to narrowed discount.

The year 2013 marked the fourth full year under the realization strategy and turned out to be another very satisfactory year with a distribution-adjusted NAV per share increase of 6.5% and a share price increase of
33.9%. The year-over-year distribution-adjusted NAV per share increase of 6.5% can be broken down into an effect of 7.3% from the increased valuations of the underlying funds, a positive impact of 2.9% from the continued purchase of treasury shares at a discount to NAV, -1.0% from FX movements and a negative impact of -2.7% from costs. The mature private equity portfolio continued to produce strong positive cash flows in 2013. Excluding sale proceeds distributions received amounted to CHF 24.5 million representing 24.6% of the beginning years' investment value of CHF 99.4 million. Total capital calls paid over the year amounted to merely CHF 0.5 million which is again significantly lower as in the previous two years (2012: CHF 6.5 million, 2011: CHF
7.7 million) and is a direct consequence of the elapsed investment periods of 2007 vintage funds.
With a distribution of CHF 38 per share paid out in May and a distribution of CHF 18 per share paid out in
December, a total of CHF 56 per share was returned to the shareholders in 2013, which is equivalent to almost
28% of the beginning years' NAV. Together with the CHF 25 per share distribution paid out in 2011, a total of CHF 81 per share has so far been returned to shareholders. For the upcoming annual general meeting the board of directors proposes a cash distribution of CHF 22 per share. If approved, a total amount of CHF 103 per share will have been returned to shareholders.
shaPE intends to continue the adopted harvesting strategy over the coming quarters while opportunistically selling funds if deemed attractive. Share buybacks are expected to play a minor role due to the narrowed discount.
The full annual report 2013 is available on www.shape-capital.com.

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shaPE Capital AG

shaPE is a SIX Swiss Exchange-listed investment company with exposure to a global private equity portfolio. In
2009 shaPE decided to initiate a realization strategy with the ultimate goal to return the intrinsic value of the current portfolio to its shareholders. Under this realization strategy shaPE does not make any new commitments to private equity funds, but focuses on harvesting the value of the current portfolio over the coming years. shaPE is listed on the SIX Swiss Exchange under the ticker symbol "SHPN".
For further information please contact: Dr. Simon Lamprecht
shaPE Capital AG Wolleraustrasse 41a
8807 Freienbach
Phone: +41 58 596 12 96
Fax: +41 58 596 12 97
E-mail: info@shape-capital.com
Internet: www.shape-capital.com

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