September 2009 HarbourVest Global Limited Semi-Annual Results for the Six Months Ended 31 July 2009 Contents

1. Financial Highlights 2. Portfolio Composition 3. Commitments and Balance Sheet 4. Manager’s Outlook

Appendix: ƒ Additional Portfolio Information ƒ Investment Manager

1 Financial Highlights HVPE – Six Months Ended 31 July 2009 Summary

31 31 31 1/09 – 7/09 Change 1/08 – 1/09 Change July Jan Jan 2009 2009 2008 $ % $ % NAV $652.0 $631.3 $862.1 $20.7 3% ($230.8) (27%) NAV per Share $7.86 $7.61 $10.39 $0.25 3% ($2.78) (27%) Commitments $659.8 $682.5 $689.6 ($22.7) (3%) ($7.1) (1%) Financial NAV of Investments $714.4 $668.1 $847.6 $46.3 7% ($179.5) (21%) Performance Total PE Exposure $1,374.2 $1,350.6 $1,537.2 $23.6 2% ($186.6) (12%) % Invested 110% 106% 98% 4% 8% % Committed 211% 214% 178% (3%) 36% Commitment 53% 52% 76% 1% (24%) Coverage Ratio

March 2009 • Completed staffing of HVPE with the hire of Amanda McCrystal, -based Head of Investor Relations May 2009 • Oriel Securities appointed corporate broker Key Events June 2009 • Lock-up expired on additional 25% of shares held by “rolling” shareholders; No sales have resulted September 2009 • Fishburn Hedges appointed media relations advisors

3 NAV per Share has Increased by $0.25 for the Six Months Ended 31 July 2009

NAV per Share ($)

$11.00

$10.5 0 $10.47 $10.3 9 $10.42 $10.46 $10.50 $10.16 $10.22 $10.13

$10.00 $9 .84

$9.50 $9 .22

$9.00 $8.81

$8.50

$7.84 $7.86 $7.83 $8.00 $7.70 $7.6 6 $7.6 5 $7.6 1 $7.6 0 $7.46 $7.50

$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 30-Jun 31-Jul 31-Aug

Fiscal Year Fiscal Year Ended Fiscal Year Ending Ended 31 Jan 2009 31 Jan 2010 31 Jan 2008

4 Changes in HVPE NAV per Share

$0.22 $8.00 $7.86 $0.06 ($0.14 ) $0.11 ($0.02) $0.02 $7.61

$7.50

$7.00 NAV at 31- HarbourVest HarbourVest HarbourVest HarbourVest Unrealised Operating NAV at 31- Jan-09 U.S. Funds Non-U.S. Direct Funds Secondary Foreign Expenses July-09 Funds Fund Currency Movement

5 Portfolio Composition HVPE has a Distinct Three-Tiered Investment Structure

ƒ Interests in 20 HarbourVest-managed NAV of Investments + Unfunded Commitments(2) funds (1)

$185 million Unfunded Commitments ƒ Comprised of 628 (Not Allocated to Underlying Partnerships)(2) fund interests across multiple high-quality managers (1)

ƒ Exposure to 5,600 $475 million Unfunded Commitments company investments (Allocated to Underlying Partnerships) (directly or indirectly) (1) $660 MILLION TOTAL UNFUNDED COMMITMENTS ƒ NAV split approximately 64% primary, $714 MILLION NAV OF INVESTMENTS 21% secondary and 15% direct $1,374 million investments at Total Private Equity Exposure 31 July 2009

______Note: 1. HVPE portfolio fund exposure as of 31 July 2009 2. At 31 July, approximately $185 million of HVPE’s total unfunded commitments of $660 million represent commitments to 7 HarbourVest funds that have not yet been committed to underlying partnerships. Diversification of Portfolio Based on NAV at 31 July 2009

Strategy Geography ƒ Portfolio provides Early Stage ROW Large Other Asia- access to a broad Venture 5% Buyouts 3% Pacific cross-section of 8% 14% 4% private equity Balanced Medium Venture investments 26% Buyouts 13% 28% ƒ 40% venture Venture / U.S. Growth 65% Small Equity ƒ 65% U.S. Buyouts 13% 21% ƒ Minimal exposure to Vintage Industry large buyouts 1993 - Other Cleantech Consumer 1998 Other 5% 3% 16% Media / ƒ Well-diversified by 2008 5% 5% 1999 Telecom vintage year and 2007 7% 8% Products 12% 11% 2000 11% industry Medical / 9% Other Biotech 2006 ƒ No concentration in 8% 18% Tech 12% 2001 recent vintages 12% 12% Services 4% Industrial Software 2005 2002 8% 13% 5% Business Financial 12% 2003 2004 Services 7% 10% ______9% 6% Note: As estimated in HVPE’s NAV statement for the month ended 31 July 2009 The diversification analysis is based on the fair value of the underlying investments, as estimated by the Investment Manager. Strategy, vintage, and geography diversification are based on the estimated net asset value of partnership investments within HVPE’s fund-of-funds and company investments within HVPE’s direct funds. Industry diversification is based on the reported value of the underlying company investments. Some of the funds held in HVPE have not been fully invested. The composition of investments by strategy, vintage, industry, and geography may change as additional investments are made and existing investments are realised. Large buyout includes funds of more than $7 billion in size, medium buyout includes those between $1 billion and $7 billion in size, and small buyout includes those less than $1 billion in size. Direct investments in operating companies are categorised by deal size. 8 Performance by Strategy

31 January 2009 – 31 July 2009

Portfolio Strategy Venture and Buyout Strategy Total Small Medium Large Early Balanced Growth HVPE Total Buyout Venture Total Other % of Buyout Buyout Buyout Venture Venture Equity 15% NAV 57% 40% 3%15% 20% 27% 8% 15% 14% 13%

10% 10% 10% 8% 7% 5% 5% 4% 5% 2% 2%

0% 0% 0%

-2% -3% -5% -5% Fiscal Year Ended 31 Jan 2009: -25% -32% -16% -22% -26% -30% -54% -18% -15% -15%

______Note: Analysis includes primary, secondary and direct investments Diversification as at 31 July 2009 9 Allocation of 2005-2007 Vintage Years by Strategy

Portfolio Vintage Diversification 2005 – 2007 Vintage by Strategy

Small Growth Other Buyout Equity 2% 4% 4%

Balanced All Other Venture Vintage 2005 - 3% Medium Years 2007 35% Buyout 65% 35% 10% Early Venture 5% Large Buyout 7%

(% of Total NAV)

______Note: Diversification as at 31 July 2009 See diversification note on slide 9 10 Allocation of Buyout and Venture by Geography

Portfolio Geography Diversification Buyout and Venture by Geography

Rest of World 11%

Rest of Buyout World Europe 57% of Total NAV U.S. 9% 34% 55%

Europe 26% Rest of World U.S. Europe 5% 65% 15%

U.S. 80% Venture 40% of Total NAV

______Note: Diversification as at 31 July 2009 See diversification note on slide 9 11 MSCI Sector Performance and HVPE’s NAV by Sector

31 January 2009 to 31 July 2009

MSCI All Country World Index – Local Currency MSCI ACWI Sector Performance – Local Currency 47% of HVPE NAV % of NAV* 1% 18% 12% 9% 4% 8% 7% 7% 25%

40% 38% 38%

35% 33%

30%

25% 22% 22%

20%

15% 11% 11% 10% 10% 5% 5%

0% -1% -5% Utilities Healthcare Telecom Consumer Energy MSCI ACWI Industrials Consumer Financials IT Staples Discretionary Fiscal Year Ended 31 Jan 2009: -26% -18% -32% -20% -31% -40% -45% -43% -56% -40% ______*9% of NAV has not been classified in defined MSCI ACWI sectors; HVPE’s industry diversification has been modified to better align with the MSCI ACWI sectors and may not match HVPE diversification information presented elsewhere in this document. 12 Comparison of HVPE Portfolio with Private Equity Fund-of-Funds Peer Group

HVPE Strategy1 HVPE Geography1 HVPE Vintage1

Other ROW 2008 Pre-2000 3% 9% 7% 13%

Europe Venture 2005- 26% 40% 2007 Buyout 35% 2000- 57% U.S. 2004 65% 45%

Peer Average Strategy2 Peer Average Geography2 Peer Average Vintage2

ROW Other 2008 Pre-2000 13% 19% 9% 6% 2000- U.S. 2004 40% Venture 28% 11%

Buyout 2005- 70% Europe 2007 47% 57% ______Note: HVPE diversification as at 31 July 2009; peer data based on most recent financial reports (ranging from 31 March 2009 to 30 June 2009) 1. See note related to diversification analysis on slide 9. 2. Peer group includes: Absolute Private Equity AG, AIG Private Equity Ltd, J.P. Morgan Private Equity Ltd, Castle Private Equity AG, Conversus Capital LP, F&C Private Equity Trust PLC, Graphite Enterprise Trust PLC, NB Private Equity Partners Ltd, Pantheon International Participations PLC, Princess Private Equity Holdings Ltd, Standard Life European Private Equity PLC, and SVG Capital PLC 13 Portfolio Concentration and Largest 25 Underlying Companies at 31 July 2009

ƒ In aggregate, these investments represented 18.1% of investment value Portfolio Concentration by Managers ƒ The five largest investments represented 7.6% of investment value and Investments Company Status Location Industry Top 25 as a Percentage of NAV 2.0% to 2.5% of Investment Value Nycomed SCA-SICAR Private Denmark Medical/Biotech 1.5% to 2.0% of Investment Value The Sun Products Corporation Private U.S. Consumer Products All Managers 29% 1.0% to 1.5% of Investment Value Legrand Holdings S.A. Public Industrial Shenzhen Development Bank Public Financial 0.5% to 1.0% of Investment Value U.S. Managers 24% Avago Technologies, Inc. Private** Singapore Tech Other AWS Convergence Technologies, Inc. Private U.S. Tech Services The Hillman Group Private U.S. Consumer Products Buyout Managers 24% LM Glasfiber A/S Private Denmark Cleantech Mimeo.com, Inc. Private U.S. Software MYOB Limited Private Australia Software Venture Managers 20% Nero A.G. Private Germany Software Transmode Private Sweden Media/Telecom Up to 0.5% of Investment Value All Investments 18% Acresso Software* Private U.S. Software Acromas Holdings (Saga/AA) Private U.K. Consumer Products Birds Eye Foods* Private U.S. Consumer Products European Managers 17% Brenntag Group* Private Germany Industrial Camstar Systems, Inc. Private U.S. Software Clearwater Undersea Cable Investments Private Singapore Media/Telecom Direct Investments 13% Datatel, Inc. Private U.S. Software GTS Central European Private Hungary Media/Telecom Net 1 UEPS Technologies Inc. Public South Africa Software Public Investments 6% Pepkor Holdings Private South Africa Consumer Other PSI Holdings Inc. (Akibia) Private U.S. Business Services Radiation Therapy Services Private U.S. Medical/Biotech 0% 10% 20% 30% SunGard Data Systems, Inc. Private U.S. Software ______* Company not included in top 25 at 31 January 2009. Bold text denotes direct investments made by HarbourVest funds. 14 ** Avago Technologies completed an initial public offering in August 2009. Sensitivity of NAV to Investments Held Below Cost

Impact of Segment Write-off

Valued at <0.5x Valued at <1.0x and >0.5x Small / Medium Small / Medium Large Buyout Buyout Venture Large Buyout Buyout Venture 0%

-2% -2% -2% -2% -3% -4%

-6%

-7% -8% -8%

-10%

15 Commitments and Balance Sheet HVPE Quarterly Contributions and Distributions From 1 February 2008 to 31 July 2009

Six Months to 31 July 2009

$ in millions Contributions Distributions Net Cash Flow U.S. Fund-of-Funds $22.5 $8.6 ($13.9) Non-U.S. Fund-of-Funds 8.7 10.0 1.3 Direct Funds 8.7 0.0 ($8.7) $ Millions Secondary Funds 2.0 0.7 ($1.3) $41.9 $19.3 ($22.6) $50 $43.3 Net Cash Flow = $40 Net Cash $35.8 ($3.3) Flow = $32.1 ($16.7) $32.5

$30 $26.6 $26.6

Net Cash Net Cash Net Cash Flow = Flow = Flow = Net Cash $20 ($19.3) $17.3 ($5.9) ($15.8) $15.3 Flow = $12.8 ($6.8) $11.4 $10.8 $10 $8.5

$0 Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4 Q1 Q1 Q2 Q2 Calls Dist Calls Dist Calls Dist Calls Dist Calls Dist Calls Dist Feb – Apr May – July Aug – Oct Nov 2008 – Feb – Apr May – July 2008 2008 2008 Jan 2009 2009 2009 17 HVPE’s Credit Facility Provides Strategic Flexibility

ƒ Seven year committed facility through December 2014 ƒ $500 million facility size – $80 million drawn at 31 July 2009 ($18 million held in cash) – $330 million available at 31 July 2009 based on the most restrictive bank covenants ƒ Lender is Bank of Scotland, now part of Lloyds Banking Group plc ƒ Attractive terms – 40 bps annually on undrawn line – Borrowing at LIBOR plus 150 bps – Covenant flexibility

18 HVPE Resources Relative to Commitments as at 31 July 2009

$ Millions ƒ Of HVPE’s total commitments of $660 million, 72% ($475 million) $1,062 have been allocated to underlying partnerships and 28% ($185 $1,000 million) are not allocated

ƒ Total resources of $1,062 million $800 represent 161% of commitments NAV of Investments $660 ƒ Liquid resources equal $348 million $714 Liquid $600 resources Commit ment s equal 73% of Not Allocated ƒ Liquid resources represent 73% of Allocated $185 allocated commitments and 53% Commitments and 53% of of total commitments $400 Total Commitments

Allocat ed Available Credit Commit ment s $200 Facilit y (ACF) $475 $330 LIQUID LIQUID

RESOURCES Cash $18 $0 HVPE Resources Commitments

19 HVPE’s Commitment Strategy is Supported by its Investment Structure and Credit Facility

Commitment Level Ratio (%) 1 Commitment Coverage Ratio (%) 2

80% 250% 73% 211% 70% 200% 60% 182% 178% 53% 50% 150% 40% 35%

100% 30%

20% 50% 10%

0% 0% HVPE (Total HVPE (Allocated Peer Median (3) HVPE (Total HVPE (Allocated Peer Median (3) Commitments) Commitments Only) Commitments) Commitments Only)

SUMMARY OF COMMITMENTS Amounts shown in millions 31-Jul-09 Unfunded Commitments (Allocated to Underlying Partnerships) $474.6 Unfunded Commitments (Not Allocated to Underlying Partnerships) 185.2 Total Unfunded Commitments $659.8 Estimated NAV of Investments $714.4 Total Private Equity Exposure $1,374.2

HVPE Estimated NAV $652.0 HVPE Cash and Available Credit Facility $347.7 ______Note: HVPE data as at 31 July 2009; peer reporting dates as at 30 June 2009 1. Commitment level ratio is calculated as Total Private Equity Exposure divided by HVPE NAV 2. Commitment coverage ratio is calculated as cash and available credit facility divided by unfunded commitments 3. peer group includes: Absolute Private Equity AG, AIG Private Equity Ltd, J.P. Morgan Private Equity Ltd, Castle Private Equity AG, Conversus Capital LP, F&C Private Equity Trust PLC, Graphite Enterprise Trust PLC, NB Private Equity Partners Ltd, Pantheon International Participations PLC, Princess Private Equity Holdings Ltd, Standard Life European Private Equity PLC, and SVG Capital PLC 20 HVPE Historical Trading Since Listing

Per Share Volume Volume Closing Price per Share Estimated NAV per Share (000’s) 580 $11.00 580200 $10.50 $10.00 175 $9.50 150150 $9.00 150 $8.50 $8.00 125 $7.50 $7.83 $7.00 100 $6.50 $6.00 75 $5.50 39% $5.00 Most recent trade Discount 7 September $4.50 50 at $4.75 $4.00 15.9 $3.50 15.5 25 2.0 2.5 $3.00 2.5 0.5 2.0 5.1 2.6 1.0 0.7 0.2 0.1 $2.50 0

7 8 8 8 8 8 9 9 07 0 08 0 08 09 0 00 0 00 008 008 00 00 0 0 00 0 2 2 2 2 2 2 2 2 20 2 2 20 r l 2008 t 2009 v c y 20 n 2008 u p n 2009 b n g a u J a e No Mar Ap J Oc J F Jul 2009 0 0 0 Ju 0 0 De 0 M 3 3 0 8 0 Mar 30 Apr 2009 3 30 3 30 Jan 29 Feb 30 30 3 30 30 Aug 30 Se 30 Nov 230 Dec 20083 2 3 30 May 20093 30 Au

______Source: Trading data shown through 25 September 2009, NAV and discount shown as at 31 August 2009. 21 Peer Group Share Price Discount to NAV and Share Price Increase from Lows Including HVPE

800% 763% Percent Increase from 2009 Share Price Lows 700%

600%

500%

400% 354% 300% 300% 267% 188% 200% 172% 166% 136% 125% 95% 113% 95% 113% 100% 58% 69% 45% 0% 0% PE JPM JPM SVG -20% Capital Graphite Enterprise European PE European Standard Life (19%) (17%) Investors (24%) (27%) KKR Private Equity Equity Private KKR HVPE

-40% Equity NB Private F&C Private Equity Ords Equity Private F&C Sector Median (1) Sector Conversus Capital Capital Conversus

Apollo Absolute PrivateEquity Equity Princess Private (39%) (39%) Castle Private Equity (41%) Pantheon InternationalPantheon (46%) (43%) (50%) (49%) (49%) (49%) (48%) -60% (52%) AIG Private Equity Private AIG

-80% (71%) Discount to NAV

-100%

(1) Fund-of-Funds only excluding HVPE; Note that Apollo and KKR are Direct Investment funds Source: Bloomberg (as of 25 September 2009) and most recent NAV per share which is obtained from company reports 22 Manager’s Outlook Investment Manager’s Outlook

ƒ Market expectation that private equity NAVs will be flat to slightly positive for the remainder of 2009 assuming: – Ongoing signs of economic recovery – Stable to positive public market movements ƒ HVPE’s diversified portfolio is well positioned in the current environment – Attractive secondary market exposure through Dover VII – Underweight 2005-2007 large buyout and financial sector ƒ Balance sheet and financial position are strong – Cash invested is likely to exceed distributions in the near to medium term – Expect to use HVPE’s $500 million 7-year credit facility to bridge funding differences ƒ Continued investment through existing HarbourVest commitments – HVPE will continue to invest as underlying HarbourVest Funds allocate committed capital ƒ The investment manager is increasingly optimistic about the long-term potential of private equity markets and HVPE

24 Fact Sheet

ƒ Structure ƒ Investor Communications Calendar – 2009/2010 – Guernsey-registered closed-end investment company – Monthly NAV – generally within 15 days of month end ƒ Currency denomination – Interim Management Statement – November 2009 – U.S. dollar – Annual Report and Audited Consolidated Financial Statements – ƒ Listing May 2010 – Amsterdam by NYSE Euronext – Interim Management Statement – June 2010 – Annual Information Document – June 2010 ƒ Trading information – Informal Meeting for Shareholders – June 2010 – Ticker – HVPE Management fee – Bloomberg – HVPE NA ƒ – The Investment Manager does not charge HVPE management – ISIN – GG00B28XHD63 fees or performance fees, except with respect to parallel ƒ Investment Manager investments – HarbourVest Advisers L.P., an affiliate of HarbourVest – As an investor in HarbourVest funds, HVPE is charged the same Partners, LLC management fees and is subject to the same performance ƒ Registration allocations as other investors in HarbourVest funds – Netherlands Authority for the Financial Markets ƒ Web site ƒ Fund Consent – www.hvgpe.com – Guernsey Commission ƒ Investor Contact ƒ Corporate Broker – Steve Belgrad Chief Financial Officer – Oriel Securities Limited Tel: +1 617 348 3653 125 Wood Street [email protected] London EC2V 7AN – Amanda McCrystal Tel: +44 (0) 20 7710 7600 Head of IR and Communications Tel: +44 (0) 20 7399 9830 [email protected]

25 Appendix Additional Portfolio Information Portfolio Listing at 31 July 2009

The portfolio listing illustrates HVPE’s diversity and shows the major attributes of the 20 HarbourVest funds in which HVPE is invested

28 Portfolio Listing at 31 July 2009

29 Largest Managers by Strategy at 31 July 2009 Venture / Growth Equity

ƒ In aggregate, these managers represented 20.3% of investment value ƒ The five largest managers represented 7.4% of investment value

2.0% to 2.5% of Investment Value 0.5% to 1.0% of Investment Value (continued..) Oak Investment Partners InterWest Partners Mayfield Fund 1.5% to 2.0% of Investment Value Menlo Ventures New Enterprise Associates Venture Partners TA Associates Polaris Venture Partners Sanderling Venture Partners 1.0% to 1.5% of Investment Value Sequoia Capital Sofinnova Partners* Summit Partners Thoma Bravo 0.5% to 1.0% of Investment Value Versant Ventures Accel Partners Atlas Ventures Up to 0.5% of Investment Value Austin Venture Doll Capital Management** Battery Ventures Domain Associates Draper Fisher Jurvetson Foundation Capital Highland Capital Partners HealthCare Ventures** Index Ventures

______* Jean-Bernard Schmidt, an Independent Director of HVPE, is Managing Partner of Sofinnova Partners. ** Not included in Largest Managers in HVPE’s Annual Report at 31 January 2009. 30 Largest Managers by Strategy at 31 July 2009 Buyout

ƒ In aggregate, these managers represented 23.5% of investment value ƒ The five largest managers represented 7.6% of investment value

1.5% to 2.0% of Investment Value 0.5% to 1.0% of Investment Value (continued..) BC Partners (U.K.) Doughty Hanson & Co. Bain Capital Berkshire Partners 1.0% to 1.5% of Investment Value American Capital Brait Manager Mauritius Limited CVC Capital Partners BS Investments IK Investment Partners Clyde Blowers Capital The Jordan Company GTCR Golder Rauner Newbridge Capital Group Hellman & Friedman Silver Lake Technology Management Kelso & Company** KKR Associates Europe 0.5% to 1.0% of Investment Value Nordic Capital Accretive Exit Capital Partners Providence Equity Partners Advent International Welsh, Carson, Anderson & Stowe Alpha Group

______** Not included in Largest Managers in HVPE’s Annual Report at 31 January 2009. 31 Largest Managers by Strategy at 31 July 2009 Mezzanine and Other

ƒ In aggregate, these managers represented 2.3% of investment value ƒ The five largest managers represented 1.5% of investment value

0.5% to 1.0% of Investment Value Welsh, Carson, Anderson & Stowe

Up to 0.5% of Investment Value ABRY Partners** Capital Resource Partners Clearwater Capital Partners Falcon Investment Advisors GSO Capital Partners Indigo Capital Levine Leichtman Capital Partners Oaktree Capital Management RBS

______** Not included in Largest Managers in HVPE’s Annual Report at 31 January 2009. 32 Largest Managers by Region at 31 July 2009 U.S.

ƒ In aggregate, these managers represented 23.9% of investment value ƒ The five largest managers represented 8.2% of investment value

2.0% to 2.5% of Investment Value 0.5% to 1.0% of Investment Value (continued..) Oak Investment Partners Bain Capital Battery Ventures 1.5% to 2.0% of Investment Value Berkshire Partners New Enterprise Associates The Blackstone Group TA Associates Draper Fisher Jurvetson GTCR Golder Rauner 1.0% to 1.5% of Investment Value Hellman & Friedman American Capital Highland Capital Partners The Jordan Company InterWest Partners Silver Lake Technology Management Kelso & Company** Thoma Bravo Menlo Ventures Welsh, Carson, Anderson & Stowe Polaris Venture Partners Providence Equity Partners 0.5% to 1.0% of Investment Value Sanderling Venture Partners Accretive Exit Capital Partners Summit Partners Austin Ventures

______** Not included in Largest Managers in HVPE’s Annual Report at 31 January 2009. 33 Largest Managers by Region at 31 July 2009 Europe

ƒ In aggregate, these managers represented 17.5% of investment value ƒ The five largest managers represented 7.3% of net asset value

1.5% to 2.0% of Investment Value 0.5% to 1.0% of Investment Value (continued..) BC Partners KKR Associates Europe Doughty Hanson & Co. Nordic Capital Permira Advisers 1.0% to 1.5% of Investment Value CVC Capital Partners Up to 0.5% of Investment Value IK Investment Partners Accel Partners Sofinnova Partners* Candover Partners CapVis Limited 0.5% to 1.0% of Investment Value Cinven Limited Alpha Group EQT Managers** Apax Partners (U.K.) Galileo Partners Atlas Venture Global Finance S.A.** BS Investments Kennet Venture Partners CapVis Limited Macquarie Capital Funds Clyde Blowers Capital QC Private Equity Index Ventures Tempo Capital Partners

______* Jean-Bernard Schmidt, an Independent Director of HVPE, is Managing Partner of Sofinnova Partners. ** Not included in Largest Managers in HVPE’s Annual Report at 31 January 2009. 34 Largest Managers by Region at 31 July 2009 Asia and Rest of World

ƒ In aggregate, these managers represented 5.5% of investment value ƒ The five largest managers represented 3.8% of investment value

1.0% to 1.5% of Investment Value Newbridge Capital Group

0.5% to 1.0% of Investment Value Advent International Brait Manager Mauritius Limited Pitango

Up to 0.5% of Investment Value CHAMP Clearwater Capital Partners CVC Capital Partners Asia HM Capital Partners Jerusalem Venture Partners Unitas Capital

35 Publicly-Listed Securities at 31 July 2009

ƒ Approximately 12% of the portfolio was made up of publicly-listed securities ƒ 25 largest publicly-listed investments based on NAV **:

Company Location Industry 1.0% to 1.5% of Investment Value Legrand Holdings S.A. France Industrial Shenzhen Development Bank China Financial Up to 0.5% of Investment Value 3PAR, Inc. U.S. Tech Other Ablynx NV Medical/Biotech Acme Packet, Inc.* U.S. Software Alpha Radio BV France Media/Telecom Cadence Pharmaceuticals* U.S. Medical/Biotech Dufry AG* Switzerland Consumer Other Emeritus Corporation U.S. Other Flextronics International U.S. Tech Services Isilon Systems U.S. Tech Other MedAssets, Inc. U.S Medical/Biotech MetroPCS Communications U.S. Media/Telecom The Nasdaq OMX Group, Inc U.S. Financial Net 1 UEPS Technologies Inc. South Africa Software Network Engines, Inc.* U.S. Tech Other Nikas S.A. Greece Consumer Products Otor SA France Industrial Palm, Inc. U.S. Media/Telecom PARIS RE France Financial Rockwood Holdings, Inc.* U.S. Industrial Smurfit Kappa Ireland Other SolarWinds, Inc.* U.S. Software TRW Automotive Holdings* U.S. Other Zhuhai Zhongfu China Consumer Products ______* Company not included in top 25 public companies at 31 January 2009. ** In aggregate, these investments represented 6.0% of investment value. The five largest investments represented 3.5% of investment value. 36 Investment Manager Overview of the Investment Manager – HarbourVest Partners

Largest Private ƒ Independent, 100% owner-managed private equity fund-of-funds Equity ƒ Founders began private equity investing in 1978 Fund-of-Funds Manager with ƒ Total capital raised over 26 years of $35 billion Experienced, Global ƒ 82 investment professionals in Boston, London and Hong Kong Team together with a support staff of more than 150

ƒ Focus on three private equity investment strategies: primary Consistent partnerships, secondary investments, direct investments Private Equity Strategy ƒ Four principal product lines: U.S. fund-of-funds, non-U.S. fund-of- funds, secondary-focused funds, direct / co-investment funds

Demonstrated ƒ One of the longest track records in the industry Upper Quartile ƒ Achieved by the same professionals that manage the portfolio today Investment ƒ Demonstrated top quartile performance across all private equity Performance strategies1

______Note: (1) Where relevant benchmarks exist. See notes in Appendix. 38 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 ƒ Overlapping knowledge base ƒ Strong relationships across the industry ƒ Collaborative environment ƒ Enhanced deal flow, evaluation, and monitoring

39 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. 40 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. 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 41 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.

42 Forward-Looking Statements

This report 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.

43 Track Record Disclosure

Historical data includes both funds managed directly by HarbourVest and its affiliates and funds currently managed by HarbourVest as sub-manager to HVP Inc. (defined below). In addition, historical data includes periods when the funds were managed by the management team of HarbourVest when they were employees of HVP Inc. The HarbourVest team originated in the late 1970s when D. Brooks Zug and Edward W. Kane began making primary investments on behalf of John Hancock. In 1982, they founded Hancock Venture Partners, Inc. (“HVP Inc.”). On 29 January 1997, the management team of HVP Inc. formed a new management company known as HarbourVest Partners, LLC or HarbourVest. Concurrent with the formation of HarbourVest, all of the employees of HVP Inc. became owners and/or employees of HarbourVest. In addition, concurrent with the formation of HarbourVest, HVP Inc. engaged HarbourVest as sub-manager to carry out the terms of its management agreements with the funds formed when the management team was employed by HVP Inc. Other than a sub-management agreement, no relationship exists between HarbourVest and HVP Inc. The performance shown includes realised and unrealised investments. Unrealised investments are valued by the applicable manager in accordance with the valuation guidelines contained in the applicable partnership agreement. Actual realised returns on unrealised investments will depend on, among other factors, future operating results, the value of the assets, and market conditions at the time of disposition, any related transaction costs, and the timing and manner of sale, all of which may differ from the assumptions on which the valuations used in prior performance data contained herein are based and therefore may differ materially from returns indicated herein. Note 1: Source: Bloomberg–Total Returns. The public equity benchmark does not reflect the reinvestment of dividends. The public equity benchmark return is based on the value of an original investment made on 1 January 1989. These returns do not reflect the cash flows used to calculate the HarbourVest Portfolio return. In addition, the securities comprising the public equity benchmarks have substantially different investment characteristics and risk characteristics than the investments held by the HarbourVest managed funds. Accordingly, a direct comparison may not be meaningful. Note 2: Source: Venture Economics VentureXpert Database. Benchmark Summary Report. U.S. Private Equity, vintage years 1989-2005. Venture Economics provides performance data which is typically used by private equity firms as a broad based benchmark of private equity performance. For these vintage years, the VentureXpert Database is comprised of 1,350 U.S. partnerships and the HarbourVest portfolio is comprised of 383 U.S. partnerships. Note 3: Performance of all U.S. partnership investments (primary and secondary) made by HarbourVest and/or by HVP Inc. through HarbourVest Partners III, IV, V, VI, VII, and VIII, their companion funds, and Dover Street II, III, IV, V, and VI in years 1989-2005. Represents the annual return (IRR) calculated using monthly cash flows from the funds managed by HarbourVest to and from the various funds in which the HarbourVest funds invested during the period specified, after all fees, expenses, and performance fees of all the fund investments but before the HarbourVest funds’ own fees, expenses, and performance fees. These returns do not represent the returns to investors or the aggregate returns of any specific fund. If performance for prior funds was included, the results would still be in the upper quartile. Vintage years 2006-2008 are not included because the funds are actively investing capital and it is too early to assess their performance. If vintage years 2006- 2008 are included, the HarbourVest portfolio return is 13.9%, while the median private equity benchmark is 3.6% and the upper quartile is 14.4%. HarbourVest vintage classification is based on the year in which capital was first funded to each underlying fund (for primary fund investments) or the year of HarbourVest’s purchase (for secondary investments).

44 Track Record Disclosure (continued)

Note 4: Source: Bloomberg – Total return, MSCI All European Countries (MSEUE18), in euro. The public equity benchmark does not reflect the reinvestment of dividends. The public equity benchmark return is based on the value of an original investment made on 1 January 1990. These returns do not reflect cash flows used to calculate the HarbourVest Portfolio return. In addition, the securities comprising the public equity benchmarks have substantially different investment characteristics than the investments held by the HarbourVest managed funds. Accordingly, a direct comparison may not be meaningful. Note 5: Source: Venture Economics VentureXpert Database, Benchmark Summary Report. All Private Equity – Europe, vintage years 1990-2005; in euro. Venture Economics provides performance data which is typically used by private equity firms as a broad based benchmark of private equity performance. For these vintage years, the VentureXpert Database is comprised of 1,011 European partnerships and the HarbourVest portfolio is comprised of 201 European partnerships. Note 6: Performance of all European partnership investments (primary and secondary) made by HarbourVest and/or by HVP Inc. through HarbourVest International Private Equity Partners I, II, III, IV, and V, their companion funds, Global Select, and Dover Street II, III, IV, V, and VI in years 1990-2005. Prior to 1990, HarbourVest did not offer any funds whose investment strategy was primarily focused on investments outside the U.S. Represents the annual return (IRR) calculated using monthly cash flows from the funds managed by HarbourVest to and from the various funds in which the HarbourVest funds invested during the period specified, after all fees, expenses, and performance fees of all the fund investments but before the HarbourVest funds’ own fees, expenses, and performance fees. These returns do not represent the returns to investors or the aggregate returns of any specific fund. For the purposes of comparing HarbourVest’s gross return on European partnership investments to private equity benchmarks on a like basis, IRRs for European investments were calculated by converting U.S. dollar denominated cash flows to euro at historic daily exchange rates. The euro-based IRR is a hypothetical return since certain of the partnership investments were denominated in currencies other than the euro. The IRR calculated based on U.S. dollar cash flows is 19.1%. Non-U.S. / non-European partnership investments are not included because no relevant private equity benchmarks exist. If all non-U.S. partnership investments were included, the HarbourVest portfolio return would be 15.7% in U.S. dollars. Vintage years 2006 - 2008 are not included because the funds are actively investing capital and it is too early to assess their performance. If vintage years 2006 - 2008 are included, the HarbourVest Portfolio return is 14.4%, while the median private equity benchmark is 0.0% and the upper quartile is 9.4%. HarbourVest vintage classification is based on the year in which capital was first funded to each underlying fund (for primary fund investments) or the year of HarbourVest’s purchase (for secondary investments).

Note A: These awards do not necessarily represent investor experience with HarbourVest Partners, LLC or its funds, nor do they constitute a recommendation of HarbourVest Partners, LLC or its services. The Global Private Equity Awards, sponsored by Private Equity International magazine and PrivateEquityOnline.com, is based on a one reader, one vote per category basis. There are no predetermined shortlists nor is there a panel of judges to influence votes; the person or firm with the greatest number of votes wins. The Editor’s Choice Award is chosen by the editors. These awards are based on surveys that are not limited to investors in HarbourVest funds and may not have included all of the investors in HarbourVest funds. These awards are not indicative of HarbourVest’s or HVPE’s future performance.

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