NB Private Equity Partners Ltd. — Net Asset Value 2015

Jun 10, 2015

NB Private Equity Partners Announces Monthly Net Asset Value Update for May 2015

10 June 2015

NB Private Equity Partners Limited ("NBPE" or the "Company"), a closed-end private equity investment company, today announced an updated Net Asset Value ("NAV"). During May, NBPE's NAV increased by \$8.3 million, driven by unrealized gains on public and private equity holdings as well as cash and PIK interest on its income investment portfolio.

Key Highlights

• Change in NAV per Share:
• o Month: 1.2%
  • o Year to date: 2.5%
• o Last Twelve Months: 9.7%
• Change in Total Return NAV per Share*:
• o Month: 1.2%
• o Year to date: 4.4%
• o Last Twelve Months: 14.1%

* Assumes reinvestment of dividends and reflects cumulative returns over time period shown.

NBPE's NAV increase during the month included:

• \$8.5 million of unrealized gains on public securities
• \$2.9 million of accrued cash and PIK interest from the income investment portfolio
• \$2.5 million of unrealized gains attributable to the receipt of new valuation information
• \$0.9 million of negative foreign exchange adjustments
• \$4.7 million of net losses from other realized gains, investment income, and expenses

Year to date, through 31 May 2015, the average uplift as a result of sales was 30%¹ . There were no shares repurchased during the month of May.

Portfolio Valuation

The value of NBPE's private equity portfolio as presented in the May 2015 monthly report was based on the following information:

• 51% of the private equity fair value was valued as of 31 May 2015
• 37% in private direct investments based on 31 May 2015 valuation information
• 11% in public securities
• 3% in credit-related fund investments
• 2% of the private equity fair value was valued as of 30 April 2015
• 2% in fund investments based on 30 April 2015 valuation information
• 47% of the private equity fair value was valued as of 31 March 2015
• 29% in private direct investments based on Q1 2015 valuation information
• 18% in fund investments based on Q1 2015 valuation information

^1. Through 31 May 2015, NBPE received \$30.6 million from buyout funds and co-investments. Of this amount, the Investment Manager analyzed \$25.0 million of distributions. \$1.4 million was the result of sales with an average uplift of 30%, relative to the carrying value the quarter end prior to the announcement of the transaction, \$4.9 million was the result of dividends and \$18.7 million was the result of partial sales and secondary offerings.

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 April and 31 March 2015, our analysis and historical experience lead us to believe that this approximates fair value at 31 May 2015.

During the month of May, NBPE's aggregate trading volume on Euronext Amsterdam, the London Stock Exchange, and overthe-counter trading platforms was 1,689,788 Class A ordinary shares, which represents an average daily trading volume of approximately 84,489 Class A ordinary shares.

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 May 2015 monthly report, which is published on NBPE's website at www.nbprivateequitypartners.com. The monthly report should be read in conjunction with this announcement.

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 income investments, equity 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, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 18 countries, Neuberger Berman's team is more than 2,100 professionals and the company was named by Pensions & Investments as a 2013 and 2014 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages \$251 billion in client assets as of March 31, 2015. 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.