Portfolio Update

Premier Energy and Water Trust PLC announces that at close of business on 31
May 2014 its ten largest investments were as follows:

                               % of total assets

OPG Power Ventures                    10.2

Renewable Energy Generation            6.4

Fortune Oil                            4.4

Huaneng Power International            3.6

GDF Suez                               3.5

SSE                                    3.4

Ecofin Water & Power Conv 6.00%        3.4

China Power Intl. Develop              3.3

Qatar Electricity & Water Co.          3.3

National Grid                          3.1


At close of business on 31 May 2014 the total net assets of Premier Energy and
Water Trust PLC amounted to £77 million. The sector breakdown and geographical
allocation were as follows:

Sector Breakdown:

Electricity                           49.7 %

Multi Utilities                       18.9 %

Water & Waste                          7.3 %

Gas                                    9.6 %

Cash/Net Current Assets                3.9 %

Renewable Energy                      10.6 %

Total                                100.0 %


Geographical Allocation:

Europe (excluding UK)                  8.9 %

China                                 22.9 %

North America                          8.0 %

Global                                 6.8 %

Asia (excluding China)                16.7 %

United Kingdom                        16.1 %

Latin America                         10.7 %

Cash/Net Current Assets                3.9 %

Australasia                            1.3 %

Eastern Europe                         1.5 %

Middle East                            3.2 %