HarbourVest Global Private Equity Ltd.

Capital Markets Session

15 June 2016

HarbourVest CONFIDENTIAL

Agenda

Chairman’s Introduction

HVPE Factsheet & Overview

HVPE Performance vs. Peers

Financial Performance & Portfolio Highlights

Managers and Investments

Key Take-Aways

1

HarbourVest CONFIDENTIAL

Chairman’s Introduction

2

The history of HarbourVest Global Private Equity

Manager award

The management team

The Board

The year to 31 January 2016 in review

Balance sheet and commitments

0

200

400

600

800

1000

1200

1400

2012 2013 2014 2015

$11.42 NAV per Share

$12.46 NAV per Share

$14.38 NAV per Share

$944 $1,030 $1,167

$1,266

(▲12%) (▲9%)

(▲15%) (▲10%)

HVPE NET ASSET VALUE GROWTH ($ millions except per share data)

$15.86 NAV per Share

$1,337 (▲6%)

2016

$16.75 NAV per Share

HarbourVest CONFIDENTIAL

HVPE Factsheet

3

Investment strategy has remained focused since launch

HVPE is now the fourth largest listed PE investment company in London

NAV performance over all time periods since inception has been very strong

* Share price data as of market close, 3rd June 2016. GBP/USD 1.440

Key data points 30 April 2016 / Current*

NAV $1,358 million

Market capitalisation $1,072 million

NAV/share USD (GBP) $17.01 (£11.82)

Share price USD (GBP) $13.42 (£9.32)*

Discount to NAV 21.1%

NAV growth, 5 years USD (GBP) 62% (82%)

Share price growth, 5 years USD (GBP) 94% (120%)

Total shares in issue 79.9 million

Shares traded, year to 3rd Nov 2015 9.9 million (avg. 39,000 / day)

Shares traded, 4th Nov to 3rd June 2016 18.3 million (avg. 125,000 / day)

HVPE is a Guernsey domiciled investment company, first listed in December 2007

HarbourVest CONFIDENTIAL

HVPE Overview

4

HVPE is designed to provide access to a range of private market investments

Invests in and alongside HarbourVest funds

HarbourVest funds in turn make investments into private market funds and operating

companies

HVPE

Primary

49%

Secondary

36%

Direct

15%

Buyout

66%

VC & Growth

34%

Consumer / Financial

35%

Technology / Telecom

31%

Industrial /

Other

18%

34 HarbourVest Funds + 2 Co-Investments

764 Funds / Partnerships

6,923 Operating Companies

Medical /

Biotech

16%

HarbourVest CONFIDENTIAL

Top 10 HarbourVest Funds

5

HVPE is offered a minimum 5% investment into all new HarbourVest funds

Commitment amounts are fine-tuned with respect to a series of portfolio construction

targets

HVPE’s top 10 HarbourVest fund holdings are shown below

Data as of 31 Jan 2016

Fund Proportion of HVPE

NAV

Fund Proportion of HVPE

NAV

Fund VIII Buyout 11.0% Fund IX Venture 4.4%

Dover VIII 8.7% 2007 Direct 4.4%

Fund VII Partnership 7.5% Conversus 4.2%

HIPEP VI Partnership 6.8% HIPEP VI Asia Pacific 3.2%

2013 Direct 4.7% Fund VIII Venture 3.2%

HarbourVest CONFIDENTIAL

HVPE Portfolio Construction Targets

HVPE commitments are made with reference to a set of agreed five-year targets

Other external/macro factors will influence portfolio composition over time

6

By Stage By Geography By Strategy

INVESTMENT PORTFOLIO CONSTRUCTION TARGETS

70% Buyout

30% Venture and Growth Equity

60% US

25% Europe

10% Asia Pacific

5% Rest of World

60% Primary

25% Secondary

15% Direct

HarbourVest CONFIDENTIAL

Diversification at 30 April 2016

The current breakdown by stage, geography and strategy is shown below

New commitments to Europe are expected to move this allocation closer to the target

level over time

7

By Stage By Geography By Strategy

INVESTMENT PORTFOLIO DIVERSIFICATION

62% Buyout

34% Venture and Growth Equity

4% Other

62% US

21% Europe

11% Asia Pacific

6% Rest of World

49% Primary

34% Secondary

17% Direct

HarbourVest CONFIDENTIAL

HVPE Performance

HVPE vs. Public Markets

Share Price Discount to NAV

Share Price Performance – Short-term

Shareholder Register

8

HarbourVest CONFIDENTIAL

NAV Total Return

9

HVPE total NAV return including the total distributions of $0.49 per share is now 70.1% since

inception, representing annual growth of 6.5% vs. 2.5%* for the MSCI ACWI on a total return basis

*Compound annual growth rate calculated through 30 April 2016. Note: past performance is not an indication of future results

$10.39

$7.61

$8.65

$10.24

$11.42

$12.45

$14.38

$15.86

$17.01

$2.00

$4.00

$6.00

$8.00

$10.00

$12.00

$14.00

$16.00

$18.00

$20.00

HVPE NAV

MSCI ACWI TR

HVPE Share Price

Total Return Jan

2008

Jan

2009

Jan

2010

Jan

2011

Jan

2012

Jan

2013

Jan

2014

Jan

2015

Jan

2016

HVPE NAV $10.39 $7.61 $8.65 $10.24 $11.42 $12.46 $14.38 $15.86 $16.75

3.9% (26.8%) 13.7% 18.4% 11.5% 9.1% 15.4% 10.3% 5.6%

MSCI ACWI 571.4 332.7 465.1 554.7 538.2 621.5 704.0 755.8 708.3

(8.7%) (41.8%) 39.8% 19.3% (3.0%) 15.5% 13.3% 7.4% (6.3%)

Cumulative Return

(6 Dec 07 – 30 Apr 16)

HVPE NAV 70.1%

HVPE Share Price 38.2%

MSCI ACWI TR 22.7%

$13.81

HarbourVest CONFIDENTIAL

Share Price Discount to NAV

HVPE’s discount to NAV has narrowed in recent years

Main Market listing has improved marketability of the shares

Trading range among HVPE’s peer group is very wide

10

Source: J.P. Morgan Cazenove Investment Companies Daily Interactive Stats sheet as of 6 June 2016.

-39.6%

-33.8%

-27.9%

-27.4%

-26.8%

-25.6%

-25.0%

-24.2%

-22.1%

-21.1%

-14.7%

-12.6%

14.1%

-50% -40% -30% -20% -10% 0% 10% 20%

Altamir

Aberdeen Private Equity

ICG (Graphite)

Standard Life Euro Private Eq

NB Private Equity Partners

Pantheon International

JP Morgan Private Equity

UK FOFS Weighted Average

SVG Capital

HarbourVest Private Equity

F&C Private Equity Trust

Electra

3i

Current Share Price Discount to NAV

HarbourVest CONFIDENTIAL

Share Price Performance – Sep 2015 Onwards

HVPE’s share price has performed well since the Main Market listing

Volatility has been significantly lower than that seen in the broader sector

11

Source: Bloomberg data, 3rd June 2016

Note: past performance is not an indication of future results

80

85

90

95

100

105

110

115

120

125

130

Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16

Electra

SVG

HVPE

Pantheon

NBPE

3i

HarbourVest CONFIDENTIAL

Shareholder Register

12

US ownership has fallen from 48% in September to 42% today

Recent buyers include the UK arm of the Prudential (+6%), index funds (+6%), retail

investors (+0.5%) and private wealth managers (+0.4%)

September 2015 April 2016

US 48%

UK 44%

Other 8%

US 42%

UK 49%

Other 9%

HarbourVest CONFIDENTIAL

Financial Performance & Portfolio Highlights

Investments and Commitments

NAV Performance

Realisations

Uplift on Carrying Values

Expenses

Portfolio Growth

13

HarbourVest CONFIDENTIAL

Investments and Commitments to 31 January 2016

Activity during the period (in millions except % data)

14

Financial Summary

Year Ended

31 January 2016

Year Ended

31 January 2015

Commitments to HarbourVest funds $526.4 $350.5

Total Investment Pipeline $1,043.0 $734.1

Cash Invested in HarbourVest funds $211.0 $162.2

% of Investment Pipeline* 16.7% 12.8%

Since 31 January 2016, HVPE has made commitments of a further $200m

* % of Investment Pipeline at prior financial year-end, adjusted for commitments made during the year

HarbourVest CONFIDENTIAL

Total Unfunded Commitments at 31 January 2016

15

Of the total $1,043m in unfunded commitments, $423m (41%) is unallocated

The rolling coverage ratio rose from 72% to 104% during the period as the net cash

position continued to improve and the credit facility was increased from $300m to

$500m

Unallocated $423

Allocated $620

Investment Pipeline At 31 January 2016

1-3 yrs 4-6 yrs 7-10 yrs >10 yrs

$316 $197 $60 $47

Rolling Coverage Ratio (31 January 2016)

Cash + Available Credit Facility $704m

Current Year Projected Realisations $286m

A: Total Liquid Resources $990m

B: Next Three Years’ Estimated Investments $948m

Rolling Coverage Ratio = A/B = 104%

HarbourVest CONFIDENTIAL

NAV Performance to 31 January 2016

NAV increased in the period by 5.6%, from $15.86 to $16.75, vs. a decrease of

6.3% for the MSCI ACWI on a total return basis

The increase was driven by profitable realisations

By value, 67% of a large sample of underlying companies* grew EBITDA in the

twelve months ending 31 January 2016

– Of these, 3/5 were growing at a rate greater than 10% per annum

The weighted average EBITDA multiple in the sampled portfolio is 9.9x (from 9.4x

in the prior year)

The average debt multiple is 4.2x (3.9x)

16

*These portfolio metrics reflect an analysis of 1,696 buyout companies in developing and investing U.S. and international HarbourVest funds where data is available. This represented

39% of the total buyout NAV at 31 January 2016. Please note that the sample is larger than that taken in the prior year, hence figures will not tie back to last year’s Annual Report.

$12

$13

$14

$15

$16

$17

$18

NAV per Share

at 31 Jan 2015

Realised Gain /

Value Change

Management and

Performance Fees

Operating

Expenses

NAV per Share

at 31 Jan 2016

$15.86

$1.43

($0.26) ($0.16)

Foreign

Currency

($0.12)

$16.75

CHANGES IN NAV PER SHARE

HarbourVest CONFIDENTIAL

Profile of Realisations to 31 January 2016

HVPE’s mature portfolio continues to generate cash from realisations

The average age of the underlying companies is 6.3 years

The 2005-8 vintages are generating the strongest realisation flow, but there is an

increasingly significant contribution from the 2010 and 2011 vintages

17

Note: past performance is not an indication of future results

0%

20%

INVESTMENT PORTFOLIO REALISATIONS BY VINTAGE YEAR ($ millions) Realised During Twelve Months Ended 31 January 2016

HarbourVest CONFIDENTIAL

Uplift on Carrying Value at Realisation to 31 January 2016

The weighted average uplift achieved at realisation was 38% in the year ended 31

January 2016

Realisations from the Buyout portfolio were particularly strong, with an average

multiple on cost of 4.0x

18

3.9x 3.5x

4.0x 4.1x

3.1x

0x

2x

4x

6x

8x

Total Venture Buyout M&A IPO

Weighted Average Multiple on the Cost of Investment

38%

31%

40% 40%

28%

0%

20%

40%

60%

80%

Total Venture Buyout M&A IPO

Weighted Average Uplift % on the Carrying Value*

* Uplift represents weighted average return for the 173 largest M&A and IPO transactions which represent approximately 83% of the value of the

known transactions during the financial year. This analysis represents a subset of the transactions and does not represent the portfolio as a

whole. Additionally, this analysis does not reflect management fees, carried interests, and other expenses of the HarbourVest funds or the

underlying managers, which will reduce returns. Past performance is not a guarantee of future success.

HarbourVest CONFIDENTIAL

Total Expenses to 31 January 2016

19

$0.0

$5.0

$10.0

$15.0

$20.0

$25.0

$30.0

$35.0

$40.0

Year Ended 31 Jan2015

Year Ended 31 Jan2016

Carried Interest

Management Fees(HarbourVest)

Management Fees (Co-investments)

Other Expenses

Directors' Fees andExpenses

Professional Fees

Investment Services

Credit facility

$33.0m $30.2m

$10.0m $11.2m

HVPE incurred direct operating expenses of $11.2m in the year ending 31 January 2016,

up from $10.0m in the previous year

The increase was driven by one-off costs, incurred as part of the Main Market listing, of

$1.7m

Total expenses fell from 2.7% of NAV in 2015 to 2.3% in 2016

HarbourVest CONFIDENTIAL

Portfolio Growth to 31 January 2016

Value growth in the portfolio is analysed on a regular basis in order to verify the asset

allocation strategy

During the year, value growth was particularly strong across buyout and growth equity

investments. By geography, Europe saw the strongest growth rate

Growth in Asia Pacific, having slowed at the half-year, staged a recovery in H2

20

Note: past performance is not an indication of future results

15%

11%

7%

-1%

-5%

0%

5%

10%

15%

Europe AsiaPacific

U.S. RoW

By Geography

10%

8%

3% 3%

0%

5%

10%

15%

Buyout GrowthEquity

EarlyVenture

Other

By Stage

9% 9%

6%

0%

5%

10%

15%

Primary Secondary Direct

By Strategy

INVESTMENT PORTFOLIO GROWTH

Gain Over 31 January 2015 Value

HarbourVest CONFIDENTIAL

Managers and Investments

Top 10 managers

Top 10 portfolio companies

Notable exits

Key Take-Aways

21

HarbourVest CONFIDENTIAL

Top 10 Managers by Share of HVPE NAV at 31 January 2016

22

No single manager represents more than 2.0% of the portfolio

Portfolio includes household names as well as more specialised groups

Manager Region Stage % of Investment Value

WCAS US Buyout and Mezzanine 1.93%

The Blackstone Group US Buyout 1.72%

Thoma Bravo US Buyout, Venture and Growth 1.61%

Compass Partners International Europe Buyout 1.50%

Kohlberg Kravis Roberts US Buyout 1.47%

Health Evolution Investments US Venture and Growth Equity 1.40%

DCM US/Asia Pacific Venture and Growth Equity 1.37%

Index Ventures Europe Venture and Growth Equity 1.36%

PAI Partners Europe Buyout 1.28%

Hellman & Friedman US Buyout 1.14%

HarbourVest CONFIDENTIAL

Top 10 Companies by Share of HVPE NAV at 31 January 2016

23

No single company represents more than 1.6% of the portfolio

As of 31 January, the top 10 companies shown below represented 8.5% of the portfolio

value, while the top 100 companies represented 32.2%

Top 10 companies Country Description % of Investment Value

Lightower Fiber Networks US Broadband networks 1.58%

Wayfair US Online home goods retailer 1.31%

Capsugel US Drug delivery systems 0.93%

Earth Networks US Weather observation 0.83%

The Sun Products US Household products 0.77%

Riverbed Technology US Network management 0.74%

Zayo Group US Telecommunications 0.67%

Censeo Health US Home health care services 0.58%

Securus Technologies US Public safety technology 0.57%

Uber Technologies US Personal transportation 0.53%

HarbourVest CONFIDENTIAL

Company Date Country Stage Exit route

Facebook May 2012 US Venture NASDAQ

Twitter Nov 2013 US Venture NYSE

GoPro Jun 2014 US Venture NASDAQ

The Trainline Jan 2015 UK Buyout M&A (KKR)

Auto Trader Mar 2015 UK Buyout LSE

Glaukos Jun 2015 US Venture NASDAQ

Worldpay Oct 2015 UK Buyout LSE

PhotoBox Oct 2015 UK Venture M&A (Exponent & Electra Partners)

China Hydroelectric Corporation Dec 2015 China Venture M&A (Shenzhen Energy)

Quotient Clinical Dec 2015 US Venture M&A (GHO)

Notable exits

24

Below is a selection of particularly interesting companies sold from within the HVPE

portfolio in recent years

With more than 6,900 underlying company investments, HVPE typically sees 30-50

liquidity events per month

Note: As of 31 May, HVPE retains a holding (directly or via an underlying manager) in a number of the public companies listed above. Company names shown for illustrative

purposes.

HarbourVest CONFIDENTIAL

Key Take-Aways

25

Focused, consistent strategy: PE fund of funds

Integrated, complementary approach: primary, secondary, and direct co-investment

The most diversified portfolio in the market

Provides access to pre-IPO US Venture

Run by a high quality manager

Now a FTSE 250 company

Currently trading at a discount to NAV whilst realising assets at a near-40% premium

GLOBAL MARKETS REVIEW

Peter Wilson

15 June 2016

HarbourVest CONFIDENTIAL

Investing in an age of uncertainty

Global private equity market 2015/16

Reflections on the current macro environment

Outlook

27

HarbourVest CONFIDENTIAL

Global private equity market 2015/16

– Liquidity

– Fundraising

– Investing

Reflections on the current macro environment

Outlook

Investing in an age of uncertainty

28

HarbourVest CONFIDENTIAL

4.0x

6.0x

8.0x

10.0x

12.0x

14.0x

Jan ’06 Jan ’07 Jan ’08 Jan ’09 Jan ’10 Jan ’11 Jan ’12 Jan ’13 Jan ’14 Jan ’15 Jan ’16

MSCI World S&P 500 10 Yr Average

Equity valuations have provided ideal conditions for selling

10 yr average

MSCI World and S&P 500 EV / EBITDA Multiples

Source: Bloomberg

29

HarbourVest CONFIDENTIAL

’11-’15 cycle

(+5.1%

CAGR)

Private equity exits at near-record highs

Global private equity-backed exits by region

Source: Thomson Reuters, Incisive Media, MergerMarket, and HarbourVest analysis of Asia from AVCJ, APER, EMPEA, and GP reporting

Global private equity-backed exits by type

$0

$100

$200

$300

$400

’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15 Q1

'15

Q1

'16U.S. Europe Asia EM

$ B

illio

ns

% o

f To

tal E

xit V

alu

e

0%

20%

40%

60%

80%

100%

’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15

M&A IPO

30

HarbourVest CONFIDENTIAL

’11-’15 cycle

(+9.2% CAGR)

Distributions fuelled another strong year of fundraising

Private equity funds raised by region

Source: Thomson Reuters, Incisive Media, and HarbourVest analysis of Asia from AVCJ, APER, EMPEA, and GP reporting

0

150

300

450

600

0

100

200

300

400

’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15 Q1'15

Q1'16

U.S. Buyout U.S. Venture Europe Buyout

Asia EM # Funds Raised

$ B

illio

ns

46% 46%

15% 12%

29%

23%

8% 16%

2% 3%

0%

20%

40%

60%

80%

100%

’05 ’15

U.S.

Buyout

U.S.

Venture

Europe

Buyout

Asia

EM

$205B $232B

31

HarbourVest CONFIDENTIAL

General Partners raised funds quicker and more successfully

Global buyout fundraising success and timing

Source: Preqin

91%

80%

58%

48% 49%

70% 70%

76% 77% 79%

94%

0

5

10

15

20

25

0%

20%

40%

60%

80%

100%

’06 ’07 ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15 Q1 '16

% of funds that met or exceeded targets (LHS) Average months to final close (RHS)

32

HarbourVest CONFIDENTIAL

’11-’15 cycle

(+4.8%

CAGR)

0

100

200

300

400

500

600

700

800

900

1,000

’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15 Q1

'15

Q1

'16U.S. Buyout U.S. Venture Europe Buyout Asia EM

Modest deal activity in elevated pricing environment

Source: Thomson Reuters, MergerMarket

$ B

illio

ns

5.0x

6.0x

7.0x

8.0x

9.0x

10.0x

11.0x

’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15 Q1

’16 Europe U.S. Asia

xLT

M E

BIT

DA

Add Q1 data to

notes

Global private equity investment activity Entry EV/EBITDA pricing for buyout deals

33

HarbourVest CONFIDENTIAL

6 months to Q1 ’16

Deals - $73B (-18%)

Exits - $114B (-39%)

6 months to Q1 ’15

Deals - $88B

Exits - $186B

36

46

62

50

39

61 63

42

32

68

86

110

104

82 85

77 79

35

0

20

40

60

80

100

120

Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016

Deals Exits

GPs continuing to prioritize selling over buying

Global private equity activity by quarter

Source: MergerMarket, Thomson Reuters as of 6 April 2015

$ B

illio

ns

34

HarbourVest CONFIDENTIAL

Global private equity market 2015/16

Reflections on the current macro environment

Outlook

Investing in an age of uncertainty

35

HarbourVest CONFIDENTIAL

27 21

50

80

37 45

39

24

106

36

58

12

92

120

73 82

-13

-43

-13 -8 -11 -10 -8 -10 -11

-16 -6

-16 -8 -8

-18

-50

0

50

100

150

192

4 -

19

26

’26

- ’27

’27

- ’29

’29

- ’33

’33

-’37

’37

- ’38

’38

- ’45

’45

- ’45

’45

- ’48

’48

- ’4

9

’49

- ’53

’53

- ’54

’54

- ’57

’57

- ’5

8

’58

- ’60

’60

- ’61

’61

- ’69

’69

- ’7

0

’70

- ’73

’73

- ’75

’74

- ’80

’80

- ’80

’80

- ’81

’81

- ’82

’82

- ’90

’90

- ’91

’91

- ’01

’01

- ’01

’01

- ’07

’08

- ’09

’09

- Q

1 ’1

6

Length of U.S. expansion and recession periods

A growing probability of a downturn in the next investing cycle?

Mo

nth

s

What did we say in

‘13/’14/’15 – “room

to run” etc.

Source: World Bank

36

HarbourVest CONFIDENTIAL

Complex and divergent outcomes create challenging investment backdrop

EU

Upside Case

> Sustained lower Euro

> “Brexit” – remain

Downside Case

> Migration crisis

> “Brexit” – leave

China

“Soft” landing

> Growing tertiary sectors

> Effective SOE reform

“Hard” landing

> Liquidity drain

> Stagflation

Oil

“Lower for longer”

> Consumer tailwind

> Oil producers suffer

Price recovery

> Deflation relief

> E&P spending resumes

U.S. Fed

Tighten

> Recession risk

> Global capital flows

Sustained low rates

> Asset bubbles

> Rising inflation

Geopolitics

Risks

> U.S. election

> ISIS / global terror

> Military build-up

> Isolationism

Emerging

Markets

Sustained recovery

> Strengthening growth

> Employment increase

“Doldrums”

> Currency depreciation

> Sub-trend growth

Have sent to

Sally to check

China comments

37

HarbourVest CONFIDENTIAL

8.5%

7.0%

6.3% 6.5%

6.1%

5.4%

4.7%

4.1% 4.5%

3.9% 3.8%

3.2% 3.4%

3.0% 3.1%

2.4%

1.6% 1.5% 1.6% 1.5%

0%

2%

4%

6%

8%

10%

Apr ’13 Apr ’14 Apr ’15 Apr ’16

China EM World United States Euro area

Annual IMF forecasts for 2016 Real GDP Growth

Decelerating global growth outlook

As of:

Source: IMF World Economic Outlook

38

HarbourVest CONFIDENTIAL

Global private equity market 2015/16

Reflections on the current macro environment

Outlook

Investing in an age of uncertainty

39

HarbourVest CONFIDENTIAL

6.0%

5.5%

7.2%

12.9%

MSCI World

Hedge Funds

Infrastructure

Real Estate

Private Equity

10 year returns

Pooled returns by global asset class*

The importance of being invested

20 year returns

Private equity

Other alternatives

Public markets

4.7%

5.3%

6.4%

7.8%

11.5%

MSCI World

Real Estate

Infrastructure

Hedge Funds

Private Equity

8.3%

4.7%

7.6%

12.4%

12.7%

MSCI World

Hedge Funds

Infrastructure

Real Estate

Private Equity

3 year returns 5 year returns

8.6%

4.2%

7.5%

13.6%

12.4%

MSCI World

Hedge Funds

Infrastructure

Real Estate

Private Equity

1.5x

1.6x

1.7x

1.8x

1.9x

Impact of market timing**

Exclude

Worst

Three

Vintages

Exclude

Best

Three

Vintages

1.92x

All

Vintages

N/A – no data

1.83x

+5%

-10%

1.66x

* Source: Cambridge Associates as of September 30, 2015 and Preqin as of February 2016 (for Global Hedge Funds only)

** HarbourVest global primary portfolio returns as of September 30 2015. Gross returns from 1992 to 2011 assuming even commitments every year. Exclusion of worst three vintages

refers to ’98, ‘99, ‘00; exclusion of best three vintages refers to ‘93, ’94, ’96. Past performance is no guarantee of future returns.

40

HarbourVest CONFIDENTIAL

Evolving asset allocation

– Asia increasingly core

– Sustained allocation to U.S. / Europe

– Co-investment: enhance returns, lower cost

Enhancing manager search

– Larger manager pool, increasingly complex succession dynamics

– “Established leaders”: relationships, incumbency advantage, speed

– “Emerging winners”: coverage, experience-based risk analytics

“Fire-proofing” your portfolio

– Greater reach into small / mid-market

– Focused strategies – sector, operational & consolidation

– Non-cyclical growth niches

Looking ahead

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HarbourVest CONFIDENTIAL

Disclaimer

STRICTLY CONFIDENTIAL

This document and this presentation have been prepared and issued by HarbourVest Global Private Equity Limited (the “Company”) for information purposes only and may

not be used in making any investment decision.

None of the Company, its investment manager, HarbourVest Advisers, L.P. (the “Investment Manager”) or HarbourVest Partners, LLC (“HarbourVest”) has independently

verified the information contained in this document and this presentation. This document and this presentation contain only summary information and no representation or

warranty, express or implied, is or will be made in relation to the accuracy or completeness of the information contained herein and no responsibility, obligation or liability

(whether direct or indirect, in contract, tort or otherwise) is or will be accepted by the Company, HarbourVest, the Investment Manager or any of their respective affiliates or

by any of their respective officers, employees or agents in relation to it. Each of the Company, HarbourVest, the Investment Manager and their respective affiliates and

officers, employees or agents expressly disclaims any and all liability which may be based on the document and any errors therein or omissions therefrom. In particular, no

representation or warranty is given as to the achievement or reasonableness of future projections, management targets, estimates, prospects or returns, if any. Any views

contained herein are based on financial, economic, market and other conditions prevailing as of the date of this document and this presentation. The information contained

in this document and this presentation will not be updated. Further information on the Company, its Investment Manager and HarbourVest can be found in the prospectus

published on 2 November 2007, in connection with the listing of the Company’s A ordinary shares on Euronext Amsterdam by NYSE Euronext (available at no cost from

www.euronext.com), and on the Company’s website at www.hvgpe.com and HarbourVest’s website at www.harbourvest.com, including in announcements available on

those sites.

This document and this presentation do not constitute any form of financial opinion or recommendation on the part of the Company, HarbourVest or the Investment

Manager or any of their respective affiliates and are not intended to be an offer, or the solicitation of any offer, to buy or sell any securities in any jurisdiction.

This document and this presentation contain track record data in relation to the performance of funds of funds managed by HarbourVest and its affiliates. When considering

such track record data, investors should bear in mind that past performance is not necessarily indicative of future results and, as a result, the Company’s actual returns may

be greater or less than the amounts shown herein. Investment returns will depend on the increase or decrease in the trading price of the Company’s shares. In addition the

Company is a closed-end investment company and the performance data presented herein for HarbourVest, as well as the private equity index performance data, relates

principally to funds structured as self-liquidating partnerships and in which investor contributions were made only when the underlying fund made an actual investment.

Neither this document, nor this presentation, nor any copy of either may be taken or transmitted into the United States of America, its territories or possessions or

distributed, directly or indirectly, in the United States of America, its territories or to any US person (as defined in Rule 902 of Regulation S under the US Securities Act of

1933 (the “Securities Act”)). The distribution of this document and this presentation in other jurisdictions may be restricted by law and persons into whose possession this

document comes should inform themselves about, and observe, any such restrictions.

This document and this presentation are being distributed in the United Kingdom only to (a) persons who have professional experience in matters relating to investments

who fall within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (b) high net worth entities, and other persons to

whom it may otherwise lawfully be communicated, falling within Article 49(2) (a) to (d) of the Order (all such persons together being referred to as “relevant persons”). Any

person who is not a relevant person should not act or rely on this presentation or any of its contents. Any investment or investment activity to which the presentation and

these slides relate is available only to relevant persons and will be engaged in only with relevant persons.

The Company has been registered with the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten) as a collective investment institution which may

offer participations in the Netherlands pursuant to article 2:66 of the Dutch Financial Markets Supervision Act.

By participating in this presentation or by accepting any copy of this document, you agree to be bound by the foregoing limitations.

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HarbourVest CONFIDENTIAL

Disclaimer ctd.

STRICTLY CONFIDENTIAL

The distribution of interests in HarbourVest Global Private Equity Limited (the “Fund”), a closed-ended investment company organised under the law of Guernsey, in

Switzerland will be exclusively made to, and directed at, qualified investors (the "Qualified Investors"), as defined in the Swiss Collective Investment Schemes Act of 23 June

2006, as amended ("CISA") and its implementing ordinance. Accordingly, the Fund has not been and will not be registered with the Swiss Financial Market Supervisory

Authority (FINMA). The representative of the Fund in Switzerland is Hugo Fund Services SA, 6 Cours de Rive, 1204 Geneva. The Paying Agent in Switzerland is Banque

Cantonale de Genève, 17 Quai de l'Ile, CH-1211 Geneva 2, Switzerland. The place of performance for Interests of the Fund offered or distributed in or from Switzerland is

the registered office of the Representative. Copies of the Prospectus, Articles of Association and annual and semi-annual reports of the Fund can be obtained free of charge

from the Representative.

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HarbourVest CONFIDENTIAL

Forward-Looking Statements

This document contains certain forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated

events or trends and similar expressions concerning matters that are not historical facts. In some cases, forward-looking statements can be indentified by terms such as

‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘may,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘should,’’ ‘‘will,’’ and ‘‘would,’’ or the negative of those terms or other

comparable terminology. The forward-looking statements are based on the Investment Manager’s beliefs, assumptions, and expectations of future performance and market

developments, taking into account all information currently available. These beliefs, assumptions, and expectations can change as a result of many possible events or factors,

not all of which are known or are within the Investment Manager’s control. If a change occurs, the Company’s business, financial condition, liquidity, and results of operations

may vary materially from those expressed in forward-looking statements. Some of the factors that could cause actual results to vary from those expressed in forward-looking

statements, include, but are not limited to: the factors described in this report; the rate at which HVPE deploys its capital in investments and achieves expected rates of return;

HarbourVest’s ability to execute its investment strategy, including through the identification of a sufficient number of appropriate investments; the ability of third-party managers

of funds in which the HarbourVest funds are invested and of funds in which the Company may invest through parallel investments to execute their own strategies and achieve

intended returns; the continuation of the Investment Manager as manager of the Company’s investments, the continued affiliation with HarbourVest of its key investment

professionals and the continued willingness of HarbourVest to sponsor the formation of and capital raising by, and to manage, new private equity funds; HVPE’s financial

condition and liquidity, including its ability to access or obtain new sources of financing at attractive rates in order to fund short term liquidity needs in accordance with the

investment strategy and commitment policy; changes in the values of or returns on investments that the Company makes; changes in financial markets, interest rates or industry,

general economic or political conditions; and the general volatility of the capital markets and the market price of HVPE’s shares. By their nature, forward-looking statements

involve known and unknown risks and uncertainties because they relate to events, and depend on circumstances that may or may not occur in the future. Forward-looking

statements are not guarantees of future performance. Any forward-looking statements are only made as at the date of this document, and the Investment Manager neither

intends nor assumes any obligation to update forward-looking statements set forth in this document whether as a result of new information, future events, or otherwise, except

as required by law or other applicable regulation. In light of these risks, uncertainties, and assumptions, the events described by any such forward-looking statements might not

occur. HarbourVest qualifies any and all of its forward-looking statements by these cautionary factors. Please keep this cautionary note in mind while reading this report.

REGISTERED OFFICE

HarbourVest Global Private Equity Limited

Company Registration Number: 47907

Ground Floor

Dorey Court

Admiral Park

St Peter Port

Guernsey GY1 2HT

Tel +44 (0)14 8170 2400

Fax +44 (0)14 8170 2407

INVESTMENT MANAGER

HarbourVest Advisers L.P.

c/o HarbourVest Partners, LLC

One Financial Center

44th Floor

Boston MA 02111

U.S.A.

Tel +1 617 348 3707

Fax +1 617 350 0305

Member of LPEQ

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