Investor Presentaiton

Fee Summary Vehicle Level Fees | Vehicle Level Fees (Management Fee) Underlying Level Fees (Carry) (Management % Directs Blended Fee Rate Fee/Carry) Listed Fund of Generally 1-1.5% of NAV. In some cases also a commitment based fee 0-5% after hurdle 1.5% -2.0% on committed + 20% 0--30% Vehicle fees + 1.5% - 2.0% fee and 20% carry Funds carry on underlying committed Direct Funds 1.5% management fee on PE NAV or greater 15%-20% carry 80-100% 1.5%+ management fee / (ex cash) 15-20% carry NBPE 1.5% on Private Equity Value 7.5% of gains providing 7.5% hurdle is met _1 98% PE 1.50% management fee / fair value 7.5% carry at vehicle level NBPE's fee structure is highly attractive Note: As of 31 May 2021 1. Approximately 97% of the direct investment portfolio (measured on 31 May 2021 fair value) is on a no management fee, no carry basis to underlying third-party GPs. Key Information Document is available on NBPE's website. NEUBERGER BERMAN 35

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