Investor Presentaiton

NAV Growth Over Time Assuming re-investment of dividends, NBPE's total return NAV has increased 53.1% since 2018 Quarterly NAV Plus Dividends Progression Since 2018 NAV per Share $35.00 $29.68 $30.00 $26.51 $25.00 $23.89 $22.27 $22.21 $22.55 $22.01 $21.54 $20.74 $20.57 $20.00 $15.00 $10.00 $5.00 $0.00 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 NAV per Share ■Dividends per Share Note: Based on NBPE NAV data as of 31 March 2021. NEUBERGER BERMAN 16

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