REG-NB Private Equity Partners Announces Updated Company Operating Metrics

NB Private Equity PartnersAnnouncement

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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



St Peter Port, Guernsey    29 April 2025

RNS Announcement of Audited 2024 Results and 31 March 2025 Est. NAV and
investor presentation dated 28 April 2025. NB Private Equity Partners
(“NBPE” or the “Company”) today announces an update to previously
published portfolio performance metrics, valuation and leverage statistics
following the receipt of additional information. The updated metrics are LTM
Revenue and LTM EBITDA growth(1) as of 31 December 2024 of 8.1% and 12.1%,
respectively, and 15.3x EV/EBITDA valuation multiple(2), and 5.3x net
debt/EBITDA(2). An updated investor presentation is available on the
Company’s website.
For further information, please contact:

NBPE Investor Relations        +44 20 3214 9002
Luke Mason        NBPrivateMarketsIR@nb.com

Kaso Legg Communications        +44 (0)20 3882 6644

Charles Gorman        nbpe@kl-communications.com
Luke Dampier
Charlotte Francis

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 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.

(1) Revenue & EBITDA Growth: Past performance is no guarantee of future
results. Fair value as of 31 December 2024 and the data is subject to the
following adjustments: 1) Excludes public companies, Marquee Brands and other
investments not valued on multiples of EBITDA. 2) Analysis based on 66 private
companies. 3) The private companies included in the data represent
approximately 89% of the total direct equity portfolio. 4) The following
exclusions to the data were made: a) growth of one company ($5 million of
value) was excluded from the data as the Manager believed the EBITDA growth
rate was an outlier due to an extraordinary percentage change c) four
companies (8% of direct equity fair value) were held less than one year and
excluded from the growth rates d) three companies (1% of direct equity fair
value) were excluded with non-comparable time frames of LTM revenue and/or LTM
EBITDA data or insufficient information to calculate a growth rate. Portfolio
company operating metrics are based on the most recently available (unaudited)
financial information for each company and based on as reported by the lead
private equity sponsor to the Manager as of 28 April 2025. Where necessary,
estimates were used, which include pro forma adjusted EBITDA and other EBITDA
adjustments, pro forma revenue adjustments, run-rate adjustments for
acquisitions, and annualised quarterly operating metrics. LTM periods as of
31/12/24 and 30/9/24 and 31/12/23 and 30/9/23. LTM revenue and LTM EBITDA
growth rates are weighted by fair value. Growth rate data is based on 66
companies and subject to the aforementioned exclusions; underlying EBITDA
reported by the GPs may include pro forma or other adjustments to LTM EBITDA
in one or both periods and this reported EBITDA used to calculate growth rates
may not be the same EBITDA for valuation purposes by underlying GPs. As a
result, growth and valuation multiple data are not directly comparable.

(2) Valuation & Leverage: Past performance is no guarantee of future results.
Fair value as of 31 December 2024 and subject to the following adjustments.
1) Excludes public companies, Marquee Brands and other investments not valued
on a multiple of EBITDA. 2) Based on 58 private companies which are valued
based on EV/EBITDA metrics 3) The private companies included in the data
represents 79% of direct equity investment fair value. 4) Companies not valued
on multiples of trailing EBITDA are excluded from valuation statistics. 5)
Leverage statistics exclude companies with net cash position and leverage data
represents 78% of direct equity investment fair value. Portfolio company
operating metrics are based on the most recently available (unaudited)
financial information for each company and are as reported by the lead private
equity sponsor to the Manager as of 28 April 2025, based on reporting periods
as of 31 December 2024 and 30 September 2024. EV and leverage data is
weighted by fair value. LTM EBITDA used by underlying GPs for valuation
purposes may differ from EBITDA used to calculate growth rates due to pro
forma or other adjustments and therefore the two data sets are not directly
comparable. 
(.)

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