Mar 21, 2023

03/21/2023 | 03:01am EDT Message : *Required fields THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS 21 March 2023 NB Private Equity Partners (NBPE), the $1.3bn, FTSE 250, listed private equity investment company managed by Neuberger Berman, today releases its 28 February 2023 Monthly Net Asset Value (“NAV”) estimate. Highlights (as of 28 February 2023) NAV per share of $28.09 (£23.36), a decline of 0.4% during the month, driven by quoted holdings and negative foreign exchange movements Positive valuation movements of additional Q4 2022 private company valuations – on a constant currency basis, private valuations received to date, in aggregate, were up 2% in Q4 and 4% in 2022 as a whole 80% of the valuation information for the 28 February 2023 monthly estimate as of 31 December 2022 or 28 February 2023 $289 million of available liquidity, and a further $16 million of proceeds from previously announced realisations expected in the coming months As of 28 February 2023 YTD Business review (as of 28 February 2023) NAV performance during the month driven by: 0.7% NAV decrease ($9 million) from the value of quoted holdings (which constitute 13% of portfolio fair value) 0.7% NAV decrease ($9 million) from negative FX movements, primarily attributable to changes in the EUR/USD rate in February 2023 Excluding FX, 1% NAV increase ($13 million) from the receipt of fourth quarter private company valuation information (74% of private companies valuations based on Q4 2022 valuation information) 0.1% NAV decrease ($2 million) attributable to changes in the Zero Dividend Preference share (ZDP) liability and expense accruals $289 million of available liquidity $4 million of cash and $285 million of undrawn credit facility A further $16 million of proceeds from previously announced realisations expected in the coming months $0.47 dividend paid in February 2023 In line with August 2022 dividend Annualised dividend yield on 28 February NAV of 3.3%; annualised share price yield is 4.9%1 Payment date of 28 February 2023 Portfolio Valuation The fair value of NBPE’s portfolio as of 28 February 2023 was based on the following information: 16% of the portfolio was valued as of 28 February 2023 13% in public securities 64% of the portfolio was valued as of 31 December 2022 64% in private direct investments 20% of the portfolio was valued as of 30 September 2022 19% in private direct investments 1% in private fund investments For further information, please contact: NBPE Investor Relations         +1 214 647 9593 Kaso Legg Communications   +44 (0)20 3995 6673 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. 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. This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security. NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE's investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains "forward-looking statements." Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements. Attachments