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18 July 2023

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

Highlights (as of 30 June 2023)

• NAV per share of $28.43 (£22.36), a 1.0% increase during the month
• Two main drivers in the month were an increase in quoted holdings, and positive FX movements
• 14% of the valuation information based on quoted holdings as of 30 June 2023; additional Q2 valuation information expected in the coming weeks. NBPE expects to issue its Interim Financial Report in September
• 250,024 shares repurchased during the month of June, accretive to NAV per share by ~$0.05
• Two new pending portfolio company realisations with the recently announced sales of both Accedian and FV Hospital to strategic acquirers. These two exits are estimated to generate a total of approximately $40 million of proceeds and are expected to close in the coming months¹
• NBPE continues to be well positioned to take advantage of investment opportunities - $291 million of available liquidity (excluding the above pending realisations)

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

Portfolio Update to 30 June 2023

NAV performance during the month driven by:

• 0.6% NAV increase ($8 million) from the value of quoted holdings (which constitute 14% of portfolio fair value)
• 0.6% NAV increase ($8 million) from positive FX movements, primarily attributable to changes in the EUR/USD rate
• 0.2% NAV decrease ($2 million) attributable to changes in the Zero Dividend Preference share (ZDP) liability and expense accruals

Robust liquidity – $45 million of proceeds received year to date and two additional announced pending realisations during June / early July

• Two recently announced pending realisations of Accedian and FV Hospital are estimated to generate approximately $40 million of additional proceeds and are expected to close in the coming months¹
• $291 million of available liquidity ($1 million of cash, $290 million of undrawn credit facility), excluding the above pending realisations

Portfolio Valuation

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

• 20% of the portfolio was valued as of 30 June 2023

• • 14% in public securities
  • 6% in private direct investments

• 80% of the portfolio was valued as of 31 March 2023

• • 79% in private direct investments
  • 1% in private funds

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.com
Luke Dampier
Charlotte Francis

Supplementary Information (as of 30 June 2023)

 *Undisclosed company due to confidentiality provisions.

[1] Pending realisations are subject to customary closing conditions. No assurances can be given that the referenced transactions will ultimately close.

About NB Private Equity Partners Limited
NBPE 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 Berman
Neuberger 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. Neuberger Berman’s investment philosophy is founded on active management, engaged ownership and fundamental research, including industry-leading research into material environmental, social and governance factors. Neuberger Berman is a PRI Leader, a designation awarded to fewer than 1% of investment firms. With offices in 26 countries, the firm’s diverse team has over 2,750 professionals. For nine consecutive years, Neuberger Berman 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). The firm manages $443 billion in client assets as of June 30, 2023. For more information, please visit our website at www.nb.com.

Attachment

• June 2023 NBPE Factsheet vF