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Click to Add Title Confidential 9 December 2008 HarbourVest Global Private Equity Limited Shareholder Meeting 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. 4 December 2008 1 Confidential Welcome Sir Michael Bunbury Chairman, HVPE Confidential Agenda Welcome Sir Michael Bunbury, Chairman Overview of the Manager – HarbourVest George Anson, Managing Director, HarbourVest Director, HVPE HVPE Review Steve Belgrad, CFO, HVPE Outlook for Private Equity Peter Wilson, Managing Director, HarbourVest Summary / Questions and Answers Steve Belgrad, CFO, HVPE 3 Confidential Overview of the Manager — HarbourVest George Anson Managing Director, HarbourVest Director, HVPE Confidential Overview of HarbourVest Independent, 100% owner-managed private equity fund-of-funds Largest Private 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 144 (222 total) 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 One of the longest track records in the industry Demonstrated Upper Quartile Achieved by the same professionals that manage the portfolio today Investment Performance Demonstrated top quartile performance across all private equity strategies1 __________________ Note: (1) Where relevant benchmarks exist. See notes in Appendix. 5 Confidential 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 Confidential 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 direct secondary owned by investment investment management team '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 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 Confidential 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 2007) U.S. Buyout U.S. Venture Europe Vintage Years 1989-2005 Vintage Years 1989-2005 Vintage Years 1990-2005 25% Public Equity Private Equity 25% Public Equity Private Equity 25% Public Equity Private Equity Benchmark 1 Benchmarks 2 21.7% Benchmark 1 Benchmarks 4 21.4% Benchmark 6 Benchmarks 7 Total Return Total Return Total Return 19.7% 20% 18.1% 20% 18.9% 20% 15% 15% 15% 10.7% 10.9% 9.2% 10% 7.7% 10% 10% 7.1% 5% 5% 3.4% 5% 0.0% 0% 0% 0% S&P 500 Median Upper HarbourVest NASDAQ Median Upper HarbourVest MSCI Median Upper HarbourVest 3 5 8 ________________ Quartile* Portfolio 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 2007. 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.
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