Portfolio Update

Premier Energy and Water Trust PLC announces that at close of business on 31
May 2013 its ten largest investments were as follows:

                                 % of total assets

China Suntien Green Energy                     6.4

China Everbright Intl.                         5.9

OPG Power Ventures                             5.6

Essar Energy PLC*                              3.8

Enersis                                        3.8

National Grid                                  3.7

Ecofin Water & Power Conv 6.00%**              3.6

Qatar Electricity & Water Co.                  3.4

GDF Suez                                       3.3

Centrica PLC                                   3.3

* Holding in both convertible bond and equity

** Holding in convertible bonds

At close of business on 31 May 2013 the total net assets of Premier Energy and
Water Trust PLC amounted to £69 million. The sector breakdown and geographical
allocation were as follows:

Sector Breakdown:

Electricity                                45.7 %

Multi Utilities                            24.9 %

Water & Waste                              10.2 %

Gas                                         9.9 %

Cash/Net Current Assets                     1.9 %

Renewable Energy                            6.2 %

Infrastructure                              1.2 %

Total                                     100.0 %

Geographical Allocation:

Europe (excluding UK)                       9.0 %

China                                      28.5 %

North America                               8.0 %

Global                                      7.0 %

Asia (excluding China)                     17.2 %

United Kingdom                             13.1 %

Latin America                               8.5 %

Cash/Net Current Assets                     1.9 %

Australasia                                 1.2 %

Eastern Europe                              2.0 %

Middle East                                 3.6 %