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Press Release

Neuberger Berman Appoints Matthew Malloy Global Head of Insurance Solutions

Media Contact:

Alexander Samuelson, 212 476 5392, Alexander.Samuelson@nb.com

New York, October 5, 2015 — Neuberger Berman, a private, independent, employee-owned investment manager, today announced that industry veteran Matthew Malloy will join the firm as Global Head of Insurance Solutions effective October 5, 2015.

In this newly created role, Mr. Malloy will lead efforts to deepen relationships with existing clients and to guide the firm’s strategy for delivering general account advice and solutions to the global insurance client segment. Currently, Neuberger Berman has approximately $20 billion in insurance assets under management including general account mandates.

Andrew Komaroff, Chief Operating Officer, Neuberger Berman, said “Faced with a low interest rate environment, our insurance clients are seeking advice and access to diverse solutions across traditional and alternative asset classes. I’m confident that under Matt’s leadership we will increase the value we offer clients by combining the best of Neuberger Berman’s investment expertise with advice tailored to insurance companies.”

Matt Malloy said of coming to Neuberger Berman, “The research, diligence and culture of investing here at Neuberger Berman are compelling. Insurance companies globally have unique needs that require a depth of investment expertise that comes from fundamental, bottoms-up, active management. I’m looking forward to being part of a private, employee-owned firm working toward that objective.”

Mr. Malloy has over 20 years of insurance, investment management and investment banking experience, most recently with J.P. Morgan Asset Management, where he was a Managing Director and Global Head of Institutional Solutions & Advisory. Prior to that, he built and led the firm’s Global Insurance Solutions business. Before joining J.P. Morgan, he was a Managing Director at Goldman Sachs Asset Management and UBS Investment Bank, serving in insurance-related roles.

Mr. Malloy holds an MBA from the Fuqua School of Business at Duke University and a BA from Washington and Lee University.

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 18 countries, Neuberger Berman’s team is more than 2,100 professionals and the company was named by Pensions & Investments as a 2013 and 2014 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $251 billion in client assets as of June 30, 2015. For more information, please visit our website at www.nb.com.