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Press Release

Neuberger Berman Short Duration High Income Fund Marks 3-Year Anniversary

Media Contacts:

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

New York, October 21, 2015 — Neuberger Berman, a private, independent, employee-owned investment manager, is pleased to mark the third anniversary of the Neuberger Berman Short Duration High Income Fund (tickers: NHSAX, NHSCX, NHSIX) (the “Fund”), which seeks to offer investors a high income strategy with lower sensitivity to interest rates than traditional high yield bond funds. Over the one-year period ending 9/30/2015, the institutional share class of the Fund outperformed the Morningstar Inc. high yield category (which contains 771 funds as of 9/30/2015) by 239 basis points.

The Fund, launched Sept. 28, 2012, is managed by a seasoned group of portfolio managers and analysts averaging 28 years of experience. The portfolio team invests a total of $38 billion in non-investment grade bond assets globally for U.S. and non-U.S. institutional and individual investors.

“The Fund’s strategy is to seek attractive income with low volatility by investing primarily in short duration, high quality high yield bonds,” said Russ Covode, co-manager of the Fund. “With an improving U.S. economy and labor market, and rising consumer spending, the fundamentals appear positive for our asset class. We believe a modest Fed rate hike in December is possible and with our focus on credit and short duration high income bonds, the Fund is, in our view, poised to perform well in a rising rate environment.”

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 19 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 $237 billion in client assets as of September 30, 2015. For more information, please visit our website at www.nb.com.