Portfolio Update

Premier Energy and Water Trust PLC announces that at close of business on 31
May 2012 its ten largest investments were as follows:

% of total assets

GDF Suez 6.2

ENAGAS 3.9

Duet Group 3.2

National Grid 3.1

Veolia Environnement 2.9

EDF 2.9

E.ON 2.8

United Utilities Ord 2.7

RWE 2.7

UIL Holdings 2.7

At close of business on 31 May 2012 the total net assets of Premier Energy and
Water Trust PLC amounted to £57 million. The sector breakdown and geographical
allocation were as follows:

Sector Breakdown :

Electricity 49.7 %

Water 20.4 %

Gas 17.3 %

Infrastructure 6.4 %

Cash & Net Assets 6.2 %

Total 100.0 %

Geographical Allocation :

USA 18.7 %

China/Hong Kong 11.6 %

France 14.4 %

United Kingdom 11.8 %

Australia 6.8 %

Thailand 7.0 %

Spain 3.9 %

Italy 5.1 %

Brazil 3.3 %

Germany 5.5 %

Singapore 1.4 %

Czech Republic 2.1 %

Indonesia 1.2 %

Malaysia 1.0 %

Cash & Net Assets 6.2 %

Total 100.0 %