NBPU Nb Private Equity Partners Limited

26 May 2023

NB Private Equity Partners (NBPE), the $1.3bn, FTSE 250, listed private equity investment company managed by Neuberger Berman, today releases its 30 April 2023 Monthly Net Asset Value (“NAV”) estimate.

Highlights (as of 30 April 2023)

• NAV per share of $28.26 (£22.48), an increase of 0.2% during the month
• Performance driven by positive valuation movements of Q1 2023 private company valuations and foreign exchange movements
• 72% of the valuation information as of 31 March 2023 or 30 April 2023
• Well positioned to take advantage of investment opportunities - $305 million of available liquidity

*Reflects cumulative returns over the time periods shown and are not annualised.

Portfolio Update to 30 April 2023

NAV performance during the month driven by:

• 0.5% NAV decrease ($6 million) from the value of quoted holdings (which constitute 13% of portfolio fair value)
• 0.2% NAV increase ($3 million) from positive FX movements, primarily attributable to changes in the EUR/USD rate in April 2023
• Excluding FX, 0.7% NAV increase ($10 million) from the receipt of first quarter private company valuation information (56% of private companies valuations based on Q1 2023 valuation information)
• 0.1% NAV decrease ($2 million) attributable to changes in the Zero Dividend Preference share (ZDP) liability and expense accruals

Realisation activity - $40 million of proceeds received year to date

• Includes $10 million from partial realisations of NBPE’s co-investment in Action at December 2022 holding value. Following the realisation, Action remains NBPE’s largest company, valued at $71 million at 30 April 2023

Robust liquidity – well positioned to take advantage of opportunities

• $305 million of available liquidity ($5 million of cash, $300 million of undrawn credit facility)

Portfolio Valuation

The fair value of NBPE’s portfolio as of 30 April 2023 was based on the following information:

• 16% of the portfolio was valued as of 30 April 2023

• • 13% in public securities
  • 3% in private direct investments

• 56% of the portfolio was valued as of 31 March 2023

• • 56% in private direct investments

• 28% of the portfolio was valued as of 31 December 2022

• • 28% in private investments

For further information, please contact:

NBPE Investor Relations          +1 214 647 9593

Kaso Legg Communications    +44 (0)20 3995 6673

Charles Gorman                        nbpe@kl-communications.comLuke DampierCharlotte Francis

Supplementary Information (as of 30 April 2023)

*Undisclosed company due to confidentiality provisions.

About NB Private Equity Partners LimitedNBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

LEI number: 213800UJH93NH8IOFQ77

About Neuberger BermanNeuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 26 countries, Neuberger Berman’s diverse team has over 2,600 professionals. For eight consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). Neuberger Berman is a PRI Leader, a designation, since last assessed, that was awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. In the 2021 PRI Assessment, the firm obtained the highest possible scoring for its overarching approach to ESG investment and stewardship, and integration across asset classes. The firm manages $427 billion in client assets as of December 31, 2022. For more information, please visit our website at www.nb.com.

Attachment

• April 2023 NBPE Factsheet vFinal

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