NBPE - May Monthly Net Asset Value Estimate

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 NBPE Announces May Monthly NAV Estimate St Peter Port, Guernsey 27 June 2025 NB Private Equity Partners (NBPE), the $1.2bn1, FTSE 250, listed private equity investment company managed by Neuberger Berman, today announces its 31 May 2025 monthly NAV estimate. NAV Highlights (31 May 2025) NAV per share was $27.24 (£20.20), a total return of (0.2%) in the monthApproximately 98% of fair value based on private company valuation information as of Q1 2025 or based on 31 May 2025 quoted pricesBased on information received, private company valuations decreased in fair value by (0.4%) during Q1 2025 on a constant currency basis$285 million of available liquidity at 31 May 2025~51k shares repurchased (~$1 million) during May 2025 at a weighted average discount of 30% which was accretive to NAV by ~$0.01 per share. Year-to-date, NBPE has repurchased ~738k shares (~$14 million) at a weighted average discount of 29% which was accretive to NAV by ~$0.11 per share As of 31 May 2025Year to DateOne Year3 years5 years10 yearsNAV TR (USD)*Annualised0.7%2.5%2.0%0.7%85.8%13.2%157.2%9.9%MSCI World TR (USD)*Annualised5.2%14.2%47.1%13.7%98.7%14.7%171.5%10.5% Share price TR (GBP)*Annualised(7.9%)(7.2%)7.9%2.6%102.0%15.1%179.4%10.8%FTSE All-Share TR (GBP)*Annualised4.1%8.6%26.8%9.4%69.0%11.1%80.7%6.1% * All NBPE performance figures assume re-investment of dividends on the ex-dividend date and reflect cumulative returns over the relevant time periods shown. Three-year, five-year and ten-year annualised returns are presented for USD NAV, MSCI World (USD), GBP Share Price and FTSE All-Share (GBP) Total Returns. Portfolio Update to 31 May 2025 NAV performance during the month driven by: 0.6% NAV decrease ($8 million) in the value of private holdings0.6% NAV increase ($8 million) attributable to changes in prices of quoted holdings (which now constitute 6% of portfolio fair value)Immaterial impact on NAV from FX changes0.2% NAV decrease ($3 million) attributable to expense accruals $66 million of realisations in 2025 year to date $8 million of proceeds received during the month of May $285 million of total liquidity at 31 May 2025 $75 million of cash and liquid investments with $210 million of undrawn credit line available 2025 Share Buybacks ~51k shares repurchased in May 2025 at a weighted average discount of 30%; buybacks were accretive to NAV by ~$0.01 per shareYear-to-date, NBPE has repurchased ~738k shares at a weighted average discount of 29% which were accretive to NAV by ~$0.11 per share Portfolio Valuation The fair value of NBPE’s portfolio as of 31 May 2025 was based on the following information: 6% of the portfolio was valued as of 31 May 2025 6% in public securities 92% of the portfolio was valued as of 31 March 2025 92% in private direct investments 2% of the portfolio was valued as of 31 December 2024 2% in private direct investments For further information, please contact: NBPE Investor Relations +44 (0) 20 3214 9002Luke Mason NBPrivateMarketsIR@nb.com Kaso Legg Communications +44 (0)20 3882 6644 Charles Gorman nbpe@kl-communications.comLuke DampierCharlotte Francis Supplementary Information (as at 31 May 2025) Company NameVintageLead SponsorSectorFair Value ($m)% of FVAction20203iConsumer83.76.7%Osaic2019Reverence CapitalFinancial Services65.55.2%Solenis2021Platinum EquityIndustrials59.84.8%BeyondTrust2018Francisco PartnersTechnology / IT47.73.8%Monroe Engineering2021AEA InvestorsIndustrials44.73.6%Business Services Company*2017Not DisclosedBusiness Services40.63.2%Branded Cities Network2017Shamrock CapitalCommunications / Media37.43.0%True Potential2022CinvenFinancial Services34.42.7%Mariner2024Leonard Green & PartnersFinancial Services33.72.7%FDH Aero2024Audax GroupIndustrials32.92.6%Marquee Brands2014Neuberger BermanConsumer31.62.5%GFL (NYSE: GFL)2018BC PartnersBusiness Services30.62.4%Auctane2021Thoma BravoTechnology / IT29.12.3%Fortna2017THLIndustrials28.72.3%Staples2017Sycamore PartnersBusiness Services27.72.2%Viant2018JLL PartnersHealthcare27.32.2%Stubhub2020Neuberger BermanConsumer26.42.1%Engineering2020NB Renaissance / Bain CapitalTechnology / IT26.32.1%Agiliti2019THLHealthcare25.32.0%Kroll2020Further Global / Stone PointFinancial Services25.02.0%Benecon2024TA AssociatesHealthcare24.72.0%Solace Systems2016Bridge Growth PartnersTechnology / IT24.62.0%Excelitas2022AEA InvestorsIndustrials24.11.9%Exact2019KKRTechnology / IT23.21.9%CH Guenther2021Pritzker Private CapitalConsumer21.21.7%Addison Group2021Trilantic Capital PartnersBusiness Services19.91.6%Constellation Automotive2019TDR CapitalBusiness Services19.51.6%Bylight2017Sagewind PartnersTechnology / IT19.11.5%Tendam2017PAIConsumer19.01.5%Real Page2021Thoma BravoTechnology / IT18.81.5%Total Top 30 Investments $972.5 77.5% *Undisclosed company due to confidentiality provisions. Geography% of PortfolioNorth America77%Europe22%Asia / Rest of World1%Total Portfolio100% Industry% of PortfolioTech, Media & Telecom22%Consumer / E-commerce22%Industrials / Industrial Technology17%Financial Services14%Business Services11%Healthcare9%Other4%Energy1%Total Portfolio100% Vintage Year% of Portfolio2016 & Earlier10%201716%201814%201914%202013%202118%20225%20232%20248%Total Portfolio100% 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 is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $515 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman's investment philosophy is founded on active management, fundamental research and engaged ownership. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of March 31, 2025. 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. 1 Based on net asset value. May 2025 NBPE FactsheetvF

NBPE - May Monthly Net Asset Value Estimate

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