Shareholder Meeting

17 June 2009 HarbourVest Global Private Equity Limited Informal Meeting for Shareholders Welcome Sir Michael Bunbury Chairman, HVPE HarbourVest and HVPE Attendees Sir Michael Bunbury Chairman of HVPE D. Brooks Zug Senior Managing Director and Founder of HarbourVest; Director of HVPE George Anson Managing Director of HarbourVest; Director of HVPE Steve Belgrad CFO of HVPE Amanda McCrystal Head of Investor Relations and Communications for HVPE 2 Agenda I. Welcome Sir Michael Bunbury II. Overview of the Manager – HarbourVest D. Brooks Zug III. HVPE Review Steve Belgrad • Financial Highlights • Portfolio • Commitments and Balance Sheet • Trading and Investor Relations • HVPE Outlook IV. Outlook for Private Equity George Anson V. Summary / Questions and Answers Steve Belgrad 6/1/2009 3 Overview of the Manager – HarbourVest D. Brooks Zug Senior Managing Director and Founder, HarbourVest Director, HVPE Overview of the Investment Manager – HarbourVest Partners Largest Private Independent, 100% owner-managed private equity fund-of-funds Equity Founders began private equity investing in 1978 Fund-of-Funds Manager with Total capital raised over 25 years of $30 billion Experienced, Global 78 investment professionals in Boston, London and Hong Kong Team together with a support staff of more than 140 Focus on three private equity investment strategies: primary Consistent partnerships, secondary investments, direct investments Private Equity Strategy Four principal product lines: U.S. fund-of-funds, non-U.S. fund-of-funds, secondary-focused funds, direct / co-investment funds Demonstrated One of the longest track records in the industry Upper Quartile Achieved by the same professionals that manage the portfolio today Investment Demonstrated top quartile performance across all private equity Performance strategies1 __________________ Note: (1) Where relevant benchmarks exist. See notes in Appendix. 5 Consistent Integrated Strategy and Extensive Knowledge Base Primary Partnerships Secondary Direct Investments Investments HarbourVest Partners Investment Strategy • Consistent approach for more than 25 years • Integrated strategy provides significant advantages Overlapping knowledge base Strong relationships across the industry Collaborative environment Enhanced deal flow, evaluation, and monitoring 6 HarbourVest History Established Firm 1978 1982 1984 1990 1996 2007 First Fund I First international London Hong Kong 25 years of fund U.S. formed partnership investments subsidiary subsidiary management by investment in Europe and Asia formed formed team 1983 1986 1997 First First Firm independently 2007 direct secondary owned by Launch of investment investment management team HVPE '78 '79 '80 '81 '82 '83 '84 '85 '86 '87 '88 '89 '90 '91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 U.S. Fund I Fund II Fund III Fund IV Fund V Fund VI Fund VII Fund VIII FUND OF 1982-86 1986-89 1989-93 1993-96 1996-1999 1999-03 2003-06 2006-09 FUNDS HIPEP NON-U.S. HIPEP HIPEP II HIPEP III HIPEP IV HIPEP V VI FUND OF 1990-95 1995-98 1998-01 2001-05 2005-08 FUNDS 2008-11 SECONDARY Dover Ia Dover II Dover III Dover IV Dover V Dover VI Dover VII FUNDS 1991-94 1994-96 1996-99 1999-02 2002-05 2005-07 2007-09 DIRECT/ Fund I through Fund VI 2004 Direct 2007 Direct CO-INVEST 2004-07 2007-10 FUNDS HIPEP I through HIPEP V Dotted element represents history of investments in respective private equity strategies. For example, we began investing outside of the U.S. in 1984, but raised our first dedicated non U.S. pool of capital (HIPEP) in 1990. 7 HarbourVest’s Long-Term General Partner Relationships U.S. Europe Asia Pacific TA Associates 1983 APAX Partners 1987 MKS (Japan Venture) 1994 Oak Investment Partners 1983 Charterhouse 1989 Pacific Equity Partners 1998 New Enterprise Assoc. 1984 Permira 1989 CVC Asia 1999 Battery Ventures 1988 Sofinnova 1989 TPG Asia 2000 Summit Partners 1988 Abingworth 1991 CCMP Capital 2000 Bain Capital 1989 Alpha Group 1993 CHAMP 2000 Accel Partners 1989 BC Partners 1993 Hellman & Freidman 1994 Doughty Hanson 1993 IK Investment Partners 1994 Emerging Markets Index Ventures 2000 Advent International 1997 Brait 1998 Evergreen Partners 1998 8 Upper Quartile Private Equity Investment Performance HarbourVest investments have produced superior private equity returns – Rigorous approach to fund manager selection and asset allocation across strategies – Experienced management team across many cycles – Access to leading sponsors Partnership Investment Performance (as of 31 December 2008) U.S. Europe Vintage Years 1989-2005 Vintage Years 1990-2005 Public Equity Private Equity Public Equity Private Equity 20% 1 2 20% 4 5 Benchmark Benchmarks Benchmark Benchmarks 16.3% Total Return 15.5% 16.4% Total Return 15% 15% 10.2% 10% 10% 6.1% 5% 4.5% 5% 3.2% 0.0% 0% 0% S&P 500 Median Upper HarbourVes t MSCI Median Upper HarbourVest 3 6 ________________ Quartile* Portfolio Quartile* Portfolio Note: Comparison of public equity returns with private equity returns may not be meaningful HarbourVest has outperformed private equity benchmarks while providing far greater diversification than a single private equity fund ________________ Note (*): Minimum performance of funds in upper quartile. Notes 1-8: See Track Record Disclosure in Appendix. As of 31 December 2008. U.S. figures are calculated in U.S. dollars, Europe figures are calculated in euros. These returns represent HarbourVest’s experience in selecting top-tier private equity managers over the long term. An investor’s return in a specific fund would have been different and would have been reduced by the management fees, expenses, and performance allocations of the HarbourVest funds. For example, the difference between the net internal rate of return to Limited Partners (net L.P. IRR) and the gross IRR for HarbourVest Partners VI-Partnership Fund L.P. is 3.3%; for HarbourVest Partners VI-Buyout Partnership Fund L.P. is 4.0%; and for HarbourVest International Private Equity Partners III-Partnership Fund L.P. is 3.6%. 9 A Leading Manager Across Regions and Strategies Private Equity International Awards 2008 U.S. Fund-of-Funds European Fund-of-Funds U.S. Secondary 1. HarbourVest 1. Partners Group 1. Lexington 2. Goldman Sachs 2. HarbourVest 2. HarbourVest 3. Adams Street 3. LGT Capital 3. Goldman Sachs See Note A within Track Record Disclosure in Appendix 10 HVPE Review Steve Belgrad CFO, HVPE Financial Highlights HVPE – Period Ended 31 May 2009 Summary 31 31 31 1/08 – 1/09 1/09 – 5/09 May Jan Jan Change Change 2009 2009 2008 $ % $ % NAV $635.9 $631.3 $862.1 ($230.8) (27%) $4.6 1% NAV per Share $7.66 $7.61 $10.39 ($2.78) (27%) $0.05 1% Commitments $667.9 $682.5 $689.6 ($7.1) (1%) ($14.6) (2%) Financial NAV of Investments $695.2 $668.1 $847.6 ($179.5) (21%) $27.1 4% Performance Total PE Exposure $1,363.1 $1,350.6 $1,537.2 ($186.6) (12%) $12.5 1% % Invested 109% 106% 98% 8% 3% % Committed 214% 214% 178% 36% 0% Commitment 50% 52% 76% (24%) (2%) Coverage Ratio June 2008 • Announced sale of ersol Solar Energy AG resulted in $.09 gain; sale closed in August July 2008 • Committed €100 million to HIPEP VI 2nd Half 2008 • Completed staffing of HVPE with Boston-based CFO and London- Key Events based Head of Investor Relations May 2009 • Oriel Securities appointed corporate broker June 2009 • Lock-up expired on additional 25% of shares held by “rolling” shareholders; No sales have resulted 13 NAV per Share has Increased by $0.05 for the Four Months Ended 31 May 2009 NAV per Share ($) $11.00 $10.50 $10.47 $10.42 $10.46 $10.50 $10.39 $10.16 $10.22 $10.13 $10.00 $9.84 $9.50 $9.22 $9.00 $8.81 $8.50 12 Months Ended 4 Months Ended 31 Jan 2009 31 May 2009 $8.00 Estimated Drivers of NAV Change $ % $ $7.84 U.S. Fund-of-Funds and Direct (1.24) 45% (0.04) $7.70 $7.66 Non-U.S. Fund-of-Funds and Direct (1.27) 45% 0.18 $7.61 $7.60 Secondary 0.01 0% 0.00 $7.46 $7.50 Expenses (0.28) 10% (0.09) Change in NAV per Share (2.78) 100% 0.05 $7.00 31-Jan 29-Feb 30-Mar 30-Apr 31-May 30-Jun 31-Jul 31-Aug 31-Sep 31-Oct 30-Nov 31-Dec 31-Jan 28-Feb 31-Mar 30-Apr 31-May Fiscal Year Fiscal Year Ended Fiscal Year Ending Ended 31 Jan 2009 31 Jan 2010 31 Jan 2008 14 Portfolio Composition HVPE has a Distinct Three-Tiered Investment Structure Interests in 20 HarbourVest-managed NAV of Investments + Unfunded Commitments(2) funds (1) $189 million Unfunded Commitments Comprised of 626 fund (Not Allocated to Underlying Partnerships)(2) interests across multiple high-quality managers (1) Exposure to 5,705 $479 million Unfunded Commitments company investments (Allocated to Underlying Partnerships) (directly or indirectly) (1) $668 MILLION TOTAL UNFUNDED COMMITMENTS NAV split approximately 64% primary, $695 MILLION NAV OFINVESTMENTS 21% secondary and 15% direct $1,363 million investments at Total Private Equity Exposure 31 May 2009 ________________ Note: 1. HVPE portfolio fund exposure as of 31 January 2009 2. At 31 May, approximately $189 million of HVPE’s total unfunded commitments of $668 million represent commitments to 16 HarbourVest funds that have not yet been committed to underlying partnerships. Diversification of Portfolio Based on NAV at 31 May 2009 Strategy Geography Portfolio provides ROW Large Other Early Stage Asia- access to a broad 5% Buyouts 3% Venture Pacific cross-section of private 8% 3% 15% equity investments Europe Balanced Medium 26% Venture Buyouts 41% venture 13% 28% Venture / U.S. 66% U.S. Growth 66% Small Equity Buyouts Minimal exposure to 13% 20% large buyouts Vintage Industry 1993 - Other Cleantech Well-diversified by 1998 Consumer Other 5% 3% Media / vintage year and 2008 5% 16% 1999 5% Telecom 2007 7% industry 8% Products 13% 11% 2000 11% 9% Medical / No concentration in 2006 Other Biotech recent vintages Tech 8% 12% 2001 19% 12% 12% Services 4% Industrial 2005 2002 Software 9% 12% 5% 13% Financial 2004 2003 Business 5% 9% 10% Services ________________ 5% Note: As estimated in HVPE’s NAV statement for the month ended 31 May 2009 The diversification analysis is based on the fair value of the underlying investments, as estimated by the Investment Manager.

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