Portfolio Update

Premier Energy and Water Trust PLC announces that at close of business on 28
November 2014 its ten largest investments were as follows:

                                  % of total assets

OPG Power Ventures                              9.4

Renewable Energy Generation                     6.1

China Power Intl. Develop                       4.9

Huaneng Power International                     3.8

GDF Suez                                        3.4

Ecofin Water & Power Conv 6.00%                 3.4

Enersis                                         3.3

China Everbright International                  3.2

SSE                                             3.0

Qatar Electricity & Water                       3.0

At close of business on 28 November 2014 the total net assets of Premier Energy
and Water Trust PLC amounted to £78.2 million. The sector breakdown and
geographical allocation were as follows:

Sector Breakdown:

Electricity                                     52.6 %

Multi Utilities                                 21.2 %

Water & Waste                                    5.8 %

Gas                                              5.9 %

Cash/Net Current Assets                          1.8 %

Renewable Energy                                12.7 %

Total 100.0 %

Geographical Allocation:

Europe (excluding UK)                            5.7 %

China                                           22.1 %

North America                                   12.2 %

Global                                           7.5 %

Asia (excluding China)                          17.1 %

United Kingdom                                  16.0 %

Latin America                                    8.2 %

Cash/Net Current Assets                          1.8 %

Australasia                                      1.2 %

Eastern Europe                                   5.2 %

Middle East                                      3.0 %