Neuberger Private Equity Partners Limited Finalizes Buyback of 50,000 Class A Shares on LSE

Share Buyback Executed Within Targeted Price Range

On 27 July 2026, NBPE repurchased exactly 50,000 Class A Shares on the London Stock Exchange through its appointed broker, Jefferies International Limited. The shares were acquired at prices ranging from a low of a314.50 to a high of a314.64 per share, reflecting prevailing market conditions and disciplined capital deployment by the board. This targeted buyback represents a strategic reduction in NBPE’s share capital, with each share identified by ISIN GG00B1ZBD492 for settlement and regulatory purposes.

This buyback underlines the company’s confidence in its financial strength and commitment to enhancing shareholder value through prudent capital management. Share repurchase programs like this are commonly used by investment firms to optimize capital structure and potentially improve earnings per share. The price range achieved indicates careful execution aligned with market opportunities, ensuring shareholder interests are protected.

Reduction in Issued Share Capital Following Share Cancellation

Following the buyback and subsequent cancellation of the repurchased shares, NBPE’s issued Class A Share capital has decreased to 40,379,301 shares. This figure will be used for regulatory reporting under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules. The cancellation permanently reduces the company’s capital base.

NBPE continues to hold 3,150,408 Class A shares in treasury, representing previously repurchased shares not yet cancelled. Treasury shares remain company property and may be reissued or cancelled at the board’s discretion, providing flexibility in future capital management. The distinction between cancelled and treasury shares is crucial for investors: cancelled shares are permanently removed, whereas treasury shares can be reintroduced into the market.

Shareholder Approval and Broker Execution

The buyback was carried out under a general authority granted by shareholders at the annual general meeting on 11 June 2026. This authorization empowers the board to repurchase shares within specified limits, in compliance with Guernsey company law and London Stock Exchange regulations. Jefferies International Limited, a reputable broker, executed the transaction ensuring adherence to best execution practices and regulatory standards for listed company share repurchases on the LSE.

Utilizing Jefferies International Limited underscores NBPE’s dedication to transparency and regulatory compliance. Brokers in such transactions must follow strict protocols to ensure fair pricing and adherence to market abuse and insider trading regulations. The general authority mechanism is a standard governance feature, providing shareholders assurance that buybacks are properly approved.

NBPE’s Direct Private Equity Investment Approach and Fee Advantages

NBPE is a Guernsey-domiciled closed-end investment company specializing in direct private equity investments alongside leading global private equity firms. The company’s strategy focuses on capital appreciation through net asset value growth while distributing capital to shareholders via bi-annual dividends. NB Alternatives Advisers LLC, an indirect wholly owned subsidiary of Neuberger Berman Group LLC, serves as the Investment Manager responsible for sourcing and managing NBPE’s portfolio.

A notable competitive advantage of NBPE’s model is its fee efficiency: most direct investments incur no management fees or carried interest payable to third-party general partners. This structure enhances returns to shareholders compared to other listed private equity companies that typically bear higher fee burdens. This approach addresses investor concerns about multiple fee layers diminishing net returns and positions NBPE as a cost-effective alternative to traditional private equity funds or listed vehicles.

Support from Neuberger Berman’s Scale and Expertise

NBPE benefits from the extensive resources of its parent company, Neuberger Berman Group LLC, an employee-owned independent investment manager founded in 1939. As of 31 March 2026, Neuberger manages $567 billion in assets across global equities, fixed income, private markets, real estate, and hedge funds, serving clients in 26 countries with approximately 3,000 employees. This infrastructure provides NBPE with access to deep industry expertise, deal flow, and operational capabilities critical for managing direct private equity investments at scale.

The backing of Neuberger Berman offers NBPE significant competitive advantages in deal sourcing, execution, and portfolio management. The firm’s reputation, investment experience, and global footprint facilitate unique co-investment opportunities. Neuberger’s active management philosophy and industry recognition further enhance NBPE’s credibility and operational stability, providing investors confidence in the company’s investment execution.

Regulatory Environment and Guernsey Domicile Implications

NBPE operates as a closed-end investment company under Guernsey law, with regulatory consent from the Guernsey Financial Services Commission. Guernsey’s mature regulatory framework offers stability but differs from UK regulatory regimes applicable to UK-registered funds. Investors should be aware that NBPE’s governance and operations are subject to Guernsey law and regulations.

Despite its Guernsey domicile, NBPE’s shares trade on the London Stock Exchange, ensuring liquidity and accessibility for UK and international investors under UK market rules. The announcement specifies that the information is not for release in certain jurisdictions including the United States, Canada, Australia, Italy, Denmark, and Japan, reflecting applicable regulatory restrictions. Prospective investors are advised to seek expert legal, financial, and tax counsel before investing.

Capital Growth and Dividend Distribution Strategy

NBPE aims to deliver shareholder value through capital appreciation of its private equity portfolio and bi-annual dividend payments. This dual approach provides both growth potential and periodic income, contrasting with some private equity structures that only distribute capital upon investment realizations.

This combination appeals to investors seeking private equity exposure with regular income and those with long-term horizons benefiting from net asset value compounding. However, dividends are not guaranteed and depend on investment performance and realizations. The company cautions that investment values may fluctuate and past results do not guarantee future outcomes.

Investment Risks and Forward-Looking Statements

The announcement includes detailed risk disclosures and forward-looking statements based on current expectations of NBPE’s investment manager. These statements involve uncertainties and actual results may differ materially. The immediate impact on NBPE’s share price following the buyback was not publicly disclosed.

Investors should conduct thorough due diligence, recognizing risks including capital loss, liquidity constraints, portfolio underperformance, and valuation changes. While NBPE’s co-investment with leading private equity firms provides diversification and expertise, it does not eliminate investment risks. Additionally, as a listed entity, NBPE’s shares may trade at premiums or discounts to net asset value depending on market conditions.

Disclosure Requirements and Voting Rights Reporting

NBPE has clarified that the figure of 40,379,301 voting rights—representing issued and outstanding Class A Shares after cancellation—should be used by market participants to determine disclosure obligations under FCA Transparency Rules. These obligations arise when holdings cross thresholds such as 3%, 5%, or 10% of voting rights.

The company distinguishes between issued shares and treasury shares (3,150,408), noting treasury shares do not carry voting rights and should be excluded from denominator calculations. Investors near notification thresholds should calculate their percentage interests based on 40,379,301 voting rights. Investor relations can be contacted at +44 20 3214 9002 or via email at [email protected] for queries related to disclosure requirements.