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 -Section 2







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</LabelSeparator><Level>4</Level><ElementName>nbef_SupplementTextBlock</ElementName><ElementPrefix>nbef_</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="S000007842Member" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt; &lt;font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"&gt;Supplement to the Prospectus and Statement of Additional Information, each dated December 15, 2012, as amended January 25, 2013&lt;/font&gt;&lt;font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"&gt;&amp;#160;&lt;/font&gt; &lt;/div&gt; &lt;br/&gt;&lt;div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt; &lt;font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"&gt;Neuberger Berman International Equity Fund&lt;/font&gt; &lt;/div&gt; &lt;br/&gt;&lt;div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt; &lt;font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"&gt;Class A and Class C&lt;/font&gt; &lt;/div&gt; &lt;br/&gt;&lt;div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt; &lt;font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"&gt;New Expense Limitations for Class A and Class C&lt;/font&gt; &lt;/div&gt; &lt;br/&gt;&lt;div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt; &lt;font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"&gt;Effective June 28, 2013, NB Management is decreasing the contractual expense limitation for Class A and Class C to 1.21% and 1.96% of average net assets, respectively.&amp;#160;&amp;#160;Accordingly, the Fee Table and Expense Example on page 6 of the Class A and Class C prospectus is replaced with the following:&lt;/font&gt; &lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>No authoritative reference available.</ElementDefenition><ElementReferences>No definition available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Supplement [Text Block]</Label></Row><Row FlagID="0"><Id>4</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

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