Premier Energy and Water Trust PLC announce that at close of business on 31
    December 2015 its twenty largest investments were as follows:     

                                Company                                   % of
                                                                     total net
                                                                        assets
                                                                              
    OPG Power Ventures                                                     7.6
                                                                              
    China Power Intl. Develop                                              4.6
                                                                              
    SSE PLC                                                                3.6
                                                                              
    First Trust MLP and Energy Income Fund                                 2.8
                                                                              
    TerraForm Global Ord & 9.75% Bond 15/08/2022*                          2.8
                                                                              
    Engie                                                                  2.7
                                                                              
    Beijing Enterprises Holdings                                           2.5
                                                                              
    Nextera Energy                                                         2.5
                                                                              
    Pennon Group                                                           2.1
                                                                              
    iShares Global Utilities ETF                                           1.9
                                                                              
    EDP - Energias do Brasil                                               1.9
                                                                              
    Qatar Electricity & Water                                              1.9
                                                                              
    Transelectrica                                                         1.8
                                                                              
    GCP Infrastructure Investments                                         1.6
                                                                              
    China Everbright Intl.                                                 1.6
                                                                              
    ACEA                                                                   1.4
                                                                              
    Huaneng Power International                                            1.2
                                                                              
    Keppel Infrastructure Trust                                            1.2
                                                                              
    National Grid                                                          1.1
                                                                              
    Transgaz                                                               1.0

    * Holding in both convertible bond and equity

    At close of business on 31 December 2015 the total net assets of Premier Energy
    and Water Trust PLC amounted to £76.1 million. The sector breakdown and
    geographical allocation were as follows:

    Sector Breakdown                                                      % of
                                                                     total net
                                                                        assets
                                                                              
    Electricity                                                           35.0
                                                                              
    Multi Utilities                                                       14.7
                                                                              
    Water & Waste                                                          5.2
                                                                              
    Gas                                                                    4.5
                                                                              
    Cash/Net Current Assets                                               36.3
                                                                              
    Renewable Energy                                                       4.3
                                                                              
    Index Options                                                          0.0
                                                                              
    Total                                                                100.0

       

    Geographical Allocation                                               % of
                                                                     total net
                                                                        assets
                                                                              
    Europe (excluding UK)                                                  3.8
                                                                              
    China                                                                 12.2
                                                                              
    North America                                                         10.8
                                                                              
    Global                                                                 7.7
                                                                              
    Asia (excluding China)                                                10.7
                                                                              
    United Kingdom                                                         8.4
                                                                              
    Latin America                                                          4.1
                                                                              
    Cash/Net Current Assets                                               36.4
                                                                              
    Eastern Europe                                                         4.0
                                                                              
    Middle East                                                            1.9
                                                                              
    Index Options                                                          0.0
                                                                              
    Total                                                                100.0