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Press Release

Neuberger Berman Trust Company Names Richard Gardiner Chief Investment Officer

Media Contacts:

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

New York, March 14, 2016 — Neuberger Berman, a private, independent, employee-owned investment manager, announced today that Richard Gardiner has joined the firm and is appointed chief investment officer of Neuberger Berman Trust Company, an affiliate of Neuberger Berman. Mr. Gardiner will also lead the firm’s Investment Strategy Group and join the firm’s Asset Allocation Committee.

As part of his role within the $11.4 billion Neuberger Berman Trust Company, Mr. Gardiner will work along with Neuberger Berman’s wealth advisors and trust officers on high-net worth individual and foundation and endowment clients. With oversight of asset allocation, manager selection, and portfolio construction, Mr. Gardiner and the Investment Strategy Group will identify the most appropriate managers and investment strategies across multiple regions to provide the most optimal outcomes for Neuberger Berman clients.

“Richard’s skill set complements and enhances our approach to wealth management and investing, including traditional and alternative investments. His diverse background working in wealth management and in alternative investment strategies for a wide range of clients is a great match for his role as chief investment officer of the Neuberger Berman Trust Company. We are delighted to have him join us in that position as well as leading the firm’s Investment Strategy Group,” said Erik Knutzen, chief investment officer of multi-asset class portfolios at Neuberger Berman.

Prior to joining the firm, Mr. Gardiner was a consultant at the Reservoir Capital Group and chief investment officer and co-founder of an independent wealth management firm. Earlier, Mr. Gardiner was at Man Investments as head of Arbitrage & Credit and a member of the firm’s Investment Committee. Before joining Man, he was responsible for convertible sales and trading at J.P. Morgan and Goldman Sachs. Currently, Mr. Gardiner is a board trustee of the Emma Willard School and a member of the school’s Investment Committee and Finance & Audit Committee. Mr. Gardiner graduated cum laude from Yale University and earned his M.B.A. from Harvard Business School. He lives in New York City with his wife and two daughters.

“It is a privilege to join Neuberger Berman, one of the world’s most respected asset management firms in public and private markets at a time when diversification and asset allocation is crucially important to meeting clients’ goals. Global financial market volatility and changing economic conditions have caused dramatic shifts in the risk-reward characteristics of various assets classes. However, these obstacles can be overcome by pairing our clients’ investment goals with the right set of portfolio managers who can execute on specific strategies utilizing a range of asset classes,” said Mr. Gardiner.

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, 2014 and 2015 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 $240 billion in client assets as of December 31, 2015. For more information, please visit our website at www.nb.com.