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Press Release

Manager Richard Nackenson Leads Neuberger Berman Multi-Cap Opportunities Fund to Top Decile Performance Over Past Five Years

Media Contacts:

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

New York, January 15, 2016 — The Neuberger Berman Multi-Cap Opportunities Fund (the “Fund”) Institutional Class (ticker: NMULX) has delivered performance for investors that ranks in the top 10th percentile of the large blend category (of 1,234 funds) over the last five years ending December 31, 2015, according to data from Morningstar Inc.

The Neuberger Berman Multi-Cap Opportunities Fund is an actively managed U.S. equity fund which typically invests in 30-40 core holdings across the market capitalization spectrum. The Fund has been managed by Richard Nackenson, a Managing Director and Portfolio Manager at Neuberger Berman, since 2009. As of December 31, 2015, the Fund’s Institutional Class ranks in the top 50th percentile for one year (of 1,601 funds), top 22nd percentile over three years (of 1,402 funds), and top 10th percentile for five years (of 1,234 funds).

Nackenson and his team employ fundamental research and disciplined valuation analysis to uncover companies that they believe can generate strong free cash flow and return on invested capital. The holdings typically go into three investment categories: Special Situations, Opportunistic, and Classic. Find more information on the Fund here.

“We believe the current environment is attractive for free cash flow focused investing,” Nackenson said. “Companies have some of the healthiest balance sheets in recent history and free cash flow generation remains strong. As a result, management teams have a significant opportunity to create value for shareholders by allocating capital effectively.”

Nackenson, a 24-year industry veteran, joined Neuberger Berman in 1999. In addition to his duties managing the $2.1 billion Neuberger Berman Multi-Cap Opportunities Fund, Nackenson heads the Nackenson Group, currently overseeing more than $4 billion for individuals and institutions.

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