Portfolio Update

Premier Energy and Water Trust PLC announce that at close of business on 31 March 2016 its twenty largest investments were as follows:           

Company	% of total net assets
OPG Power Ventures	10.4
China Power Intl. Develop	6.5
SSE PLC	6.2
TerraForm Global Ord & 9.75% Bond*	4.9
First Trust MLP and Energy Income Fund	4.9
Engie	3.9
Beijing Enterprises Holdings	3.5
China Everbright Intl.	3.4
Cia Paranaense Energia ADR	3.1
Transelectrica	3.0
Pennon Group	3.0
Qatar Electricity & Water Co.	2.8
Pattern Energy Conv 4% 15/7/2020	2.7
Nextera Energy	2.6
ACEA	2.1
GCP Infrastructure Investments	2.1
Huaneng Power International	2.0
Keppel Infrastructure Trust	1.9
Enersis	1.7
EDP - Energias do Brasil	1.7

* Holding in both convertible bond and equity

At close of business on 31 March 2016 the total net assets of Premier Energy and Water Trust PLC amounted to £50.0 million. The sector breakdown and geographical allocation were as follows:

Sector Breakdown	% of total net assets
Electricity	48.6
Multi Utilities	24.2
Water & Waste	8.7
Gas	7.0
Cash/Net Current Assets	1.2
Renewable Energy	10.3
Total	100.0

Geographical Allocation	% of total net assets
Europe (excluding UK)	6.5
China	18.0
North America	19.3
Global	10.1
Asia (excluding China)	4.1
United Kingdom	12.9
Latin America	7.6
Cash/Net Current Assets	1.2
India	11.1
Eastern Europe	6.6
Middle East	2.8
Total	100.0