NB Private Equity Partners Ltd. — Net Asset Value 2014

Aug 12, 2014

NB Private Equity Partners Announces Monthly Net Asset Value Update for July 2014

11 August 2014

NB Private Equity Partners Limited ("NBPE" or the "Company"), a closed-end private equity investment company, today announced an updated Net Asset Value ("NAV").

Key Highlights

Unaudited estimated	30 June 2014	31 July 2014	% Change in NAV
NAV per share	\$13.53	\$13.42	-0.8%
Unaudited Total Return per share*	\$14.16	\$14.28	0.9%
NAV per share	Year to Date	Last Twelve Months
% change	4.8%	12.0%
Total Return per share % change*	8.3%	15.8%

* Including cumulative dividends

On a total return basis, including the declared dividend, NBPE's NAV increased by \$5.7 million. Including the impact of the declared divided, NBPE's NAV decreased by \$5.5 million during July, including:

• \$11.2 million of dividend declared
• \$11.1 million of unrealized gains attributable to the receipt of new valuation information or recent valuation event
• \$4.4 million of unrealized losses on public securities
• \$2.1 million of accrued cash and PIK interest from the direct yielding portfolio
• \$0.9 million of negative foreign exchange adjustments
• \$0.5 million of unrealized gains on credit-related fund investments
• \$2.7 million of net losses from other realized gains, investment income, and expenses

There were no shares repurchased during the month of July.

Portfolio Valuation

The value of NBPE's private equity portfolio as presented in the July 2014 monthly report was based on the following information:

• 51% of the private equity fair value was valued as of 31 July 2014
• 38% in private direct/co-investments based on 31 July 2014 valuation information
• 9% in public securities
• 4% in credit-related fund investments
• 36% of the private equity fair value was valued as of 30 June 2014
• 19% in private direct/co-investments based on Q2 2014 valuation information
  • 17% in fund investments based on Q2 2014 valuation information
• 13% of the private equity fair value was valued as of 31 March 2014
• 9% in fund investments based on Q1 2014 valuation information
  • 4% in private direct/co-investments based on Q1 2014 valuation information

Please refer to the valuation methodology section of the monthly report for a description of our valuation policy. While some valuation data is as of 30 June and 31 March 2014, our analysis and historical experience lead us to believe that this approximates fair value at 31 July 2014.

During the month of July, NBPE's aggregate trading volume on Euronext Amsterdam, the London Stock Exchange, and overthe-counter trading platforms was 1,815,692 Class A ordinary shares, which represents an average daily trading volume of approximately 78,943 Class A ordinary shares. The trading volume in July included approximately 94 Class A ordinary shares traded over-the-counter and not reported on Euronext Amsterdam or the London Stock Exchange.

NBPE expects to continue to provide regular NAV updates within seven business days of each month's end. A breakdown of NBPE's NAV can be obtained in the July 2014 monthly report, which is published on NBPE's website at www.nbprivateequitypartners.com. The monthly report should be read in conjunction with this announcement.

NBPE expects to issue its interim financial report for the six month period ended 30 June 2014 in August. The interim financial report will include unaudited financial information prepared in accordance with accounting principles generally accepted in the United States. NBPE is required to consider, and will consider, all known material information in preparing such interim financial report, including information that may become known subsequent to the issuance of this monthly report. Accordingly, amounts included in the interim financial report may differ from this monthly report.

For further information, please contact: NBPE Investor Relations +1 214 647 9593

FTI Consulting +44 20 3727 1046/1160 Edward Berry Laura Ewart

ABOUT NB PRIVATE EQUITY PARTNERS LIMITED

NBPE is a closed-end private equity investment company with class A ordinary shares admitted to trading on Euronext Amsterdam and the Specialist Fund Market of the London Stock Exchange. NBPE has ZDP shares admitted to trading on the Specialist Fund Market of the London Stock Exchange and the Daily Official List of The Channel Islands Securities Exchange Authority Limited. NBPE holds a diversified portfolio of direct yielding investments, co-investments and fund investments selected by the NB Alternatives group of Neuberger Berman, diversified across private equity asset class, geography, industry, vintage year, and sponsor.

ABOUT NEUBERGER BERMAN

Neuberger Berman is a private, independent, employee-controlled investment manager. It partners with institutions, advisors and individuals throughout the world to customize solutions that address their needs for income, growth and capital preservation. With more than 2,000 professionals focused exclusively on asset management, it offers an investment culture of independent thinking. Founded in 1939, the company provides solutions across equities, fixed income, hedge funds and private equity, and had \$257 billion in assets under management as of 30 June 2014. 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 and the States of Guernsey Policy Council. NBPE is registered with the Dutch Authority for the Financial Markets as a collective investment scheme which may offer participations in The Netherlands pursuant to article 2:66 of the Financial Markets Supervision Act (Wet op het financial toezicht). All investments are subject to risk. Past performance is no guarantee of future returns. 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.