Neuberger Berman Sees Global Opportunities Amid Market Volatility

1AUM outperformance data is asset-weighted and based on the gross of fee performance of the firm's traditional equity and fixed income strategies against their respective benchmarks. Individual strategies may have experienced negative performance during certain periods of time. See disclosures at the end of this material for additional information regarding AUM outperformance (including 3-and 5-yr statistics). Indexes are unmanaged and are not available for direct investment. Investing entails risks, including possible loss of principal. Past performance is no guarantee of future results.

This material is provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. Information is obtained from sources deemed reliable, but there is no representation or warranty as to its accuracy, completeness or reliability. All information is current as of the date of this material and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Neuberger Berman products and services may not be available in all jurisdictions or to all client types. Investing entails risks, including possible loss of principal. Investments in hedge funds and private equity are speculative and involve a higher degree of risk than more traditional investments. Investments in hedge funds and private equity are intended for sophisticated investors only. Indexes are unmanaged and are not available for direct investment. Past performance is no guarantee of future results.

All information is as of June 30, 2013, unless otherwise indicated and is subject to change without notice. Firm data, including employee and assets under management figures, reflects collective data for the various affiliated investment advisers that are subsidiaries of Neuberger Berman Group LLC. Firm history dates back to the 1939 founding of Neuberger & Berman (the predecessor to Neuberger Berman LLC).

Equity and Fixed Income AUM Benchmark Outperformance Note: For the period ending June 30, 2013, the percentage of total firm equity and fixed income Assets Under Management ("AUM") that outperformed the benchmark on 10-yr; 5-yr and 3-yr basis was as follows: Total Equity and Fixed Income AUM: 10-year: 88%; 5-year: 50%; and 3-year: 42%; Total Equity AUM: 10-year: 94%; 5-year: 26%; and 3-year: 18%; and Total Fixed Income AUM: 10-year: 77%; 5-year: 91%; and 3-year: 84%. Firm equity and fixed income Assets Under Management ("AUM") outperformance figures are based upon the aggregate assets for all Neuberger Berman LLC and Neuberger Berman Fixed Income LLC traditional equity and fixed income strategies that are included in the firm's institutional separate account ("ISA"), managed account/wrap ("MAG") and private asset management/high net worth ("PAM") composites. The results are based on the overall performance of each individual investment strategy against its respective strategy benchmark, and results are asset weighted so strategies with the largest amount of assets under management have the largest impact on the results. As of June 30,2013, eight equity teams/strategies accounted for approximately 50% of the total firm equity (PAM, ISA and MAG combined) assets reflected, and eight strategies accounted for approximately 62% of the total firm fixed income (PAM, ISA and MAG combined) assets reflected. The performance of the individual PAM equity teams/strategies is generally shown as a supplemental exhibit to the PAM Equity Composite. The respective ISA, MAG and PAM composite reports, as well as the PAM Management Team supplemental performance exhibits are available upon request. Individual strategies may have experienced negative performance during certain periods of time. Hedge fund, private equity and other private investment vehicle assets are not reflected in the AUM and product outperformance results shown. AUM outperformance for ISA, PAM and MAG strategies is based on gross of fee returns. Gross of fee returns do not reflect the deduction of investment advisory fees and other expenses. If such fees and expenses were reflected, AUM outperformance results would be lower.

This material has been issued for use by the following entities; in the U.S. and Canada by Neuberger Berman LLC, a U.S. registered investment advisor and broker-dealer and member FINRA/SIPC; in Europe, Latin America and the Middle East by Neuberger Berman Europe Limited, which is authorised and regulated by the UK Financial Conduct Authority and is registered in England and Wales, Lansdowne House, 57 Berkeley Square, London, W1J 6ER; in Australia by Neuberger Berman Australia Pty Ltd (ACN 146 033 801, AFS Licence No. 391401), which is licensed and regulated by the Australian Securities and Investments Commission to deal in, and to provide financial product advice for, certain financial products to wholesale clients; in Hong Kong by Neuberger Berman Asia Limited, which is licensed and regulated by the Hong Kong Securities and Futures Commission; in Singapore by Neuberger Berman Singapore Pte. Limited (Company No. 200821844K), which currently operates under an exemption from licensing under the Financial Advisers Act (Chapter 110) of Singapore for marketing of collective investment schemes to institutional investors; in Taiwan by Neuberger Berman Taiwan Limited, which is licensed and regulated by the Financial Services Commission ("FSC") to deal with specific professional investors or financial institutions for internal use only, and which is a separate entity and independently operated business, with SFB operating licence no.:(101) FSC SICE no.008, and address at: 10F, No. 1, Songzhi Road, Taipei, Telephone number: (02) 87268280; and in Japan and Korea by Neuberger Berman East Asia Limited, which is authorized and regulated by the Financial Services Agency of Japan and the Financial Services Commission of Republic of Korea, respectively (please visit http://www.nb.com/Japan/risk.html for additional disclosure items required under the Financial Instruments and Exchange Act of Japan). Except for the foregoing, this material is not intended for use or distribution within or aimed at the residents of any other country or jurisdiction. This document is not an advertisement and is not intended for public use or additional distribution in the following jurisdictions: Brunei, Thailand, Malaysia and China.

Neuberger Berman Management LLC, a registered Investment Advisor and Broker-Dealer, is the distributor of the Neuberger Berman mutual funds and is an affiliate of Neuberger Berman LLC. Member FINRA. “Neuberger Berman Management LLC” and the individual fund names in this piece are either service marks or registered service marks of Neuberger Berman Management LLC. The “Neuberger Berman” name and logo are registered service marks of Neuberger Berman Group LLC. © 2013 Neuberger Berman LLC. All rights reserved.