XXXXX | Neuberger Energy Infrastructure and Income Fund Inc.

*Prior to December 18th, 2025, the Fund included “Neuberger Berman” in place of “Neuberger” in its name.

Why Invest

NML is a non-diversified, closed-end management investment company that invests primarily in midstream infrastructure investments and other energy companies, including renewables

The Fund’s investment strategy focuses on companies that provide essential services to move, store, and process energy. The Fund seeks to provide investors with attractive total return and cash distributions

NML’s energy infrastructure investments are expected to emphasize companies that the Portfolio Managers believe have growth potential, scale, geographic and business-line diversity, high-quality counterparty exposure, strong balance sheets and coverage ratios, and sustainable cash flow

The Fund’s investment process is driven by first-hand research supported by a team of industry research analysts, as well as one-on-one meetings with company management and industry experts
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Fund Facts

As of 09/30/2026

Exchange

NYSE American

Symbol

NML

CUSIP

64129H104

Fund Inception Date

03/25/2013

Portfolio Management Team

Documents

Fund Literature - 1 documents

Fund Literature Documents Listing and Download
Document NameDateDownload
July 2026

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Equity

NML | Neuberger Energy Infrastructure and Income Fund Inc.

NML is a non-diversified, closed-end management investment company that invests primarily in midstream infrastructure investments and other energy companies, including renewables

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*This link is to a third party Internet site that is publicly available through the Internet, and therefore you will be leaving the Neuberger site. Linked sites are provided only as a convenience to you. The inclusion of such links is neither an endorsement by Neuberger, implied or otherwise, of the linked site or any products or services in such site nor a recommendation or suggestion that such linked site need be reviewed or consulted. Neuberger has not reviewed any of the sites linked to this site, and is not responsible for the content of off-site pages or any other site linked or linking to this site. Your linking to any off-site pages or other sites is at your own risk. Please refer to the Terms of Use of the site to which you are transferring.

Investments in MLP units entail substantial risks. The values and prices of MLP units depend on business, economic and other factors affecting those issuers. In addition, the prices of MLP units may decline due to general market conditions which are not specifically related to a particular company, such as real or perceived adverse economic conditions, changes in the general outlook for earnings, changes in interest or currency rates, commodity prices or adverse investor sentiment ----generally.

An investment in MLP units involves certain risks which differ from an investment in the securities of a corporation. Holders of MLP units or similar securities have limited control and voting rights on matters affecting the entity in which they hold an interest. In addition, there are certain tax risks associated with an investment in MLP units (see below) and conflicts of interest exist between common unit holders and the general partner. For example, conflicts of interest may arise from incentive distribution payments paid to the general partner, or referral of business opportunities by the general partner or one of its affiliates to an entity other than the MLP. The Fund is not responsible for operating MLPs and similar entities and cannot control or monitor their compliance with applicable tax, securities and other laws and regulations necessary for the profitability of such investments. Furthermore, the structures and terms of MLPs and other entities may not be indicative of the structure and terms of every entity in which the Fund invests. Although the MLP sector has grown significantly in recent years, such market trends may not continue due to economic conditions, which are not predictable, or other factors.

Because of its concentration in MLP investments, the Fund is not eligible to be a regulated investment company under the Internal Revenue Code of 1986, as amended (the “Code”). Accordingly, the Fund will be treated as a taxable regular corporation, or so called “C” corporation, for federal tax purposes (“‘C’ corporation”). As a result, the Fund will be subject to federal income tax on its taxable income at the graduated rates applicable to corporations (currently at a maximum rate of 21%) as well as state and local income taxes. As a consequence of this concentration, the aggregate returns the Fund realizes may be adversely affected if a small number of investments perform poorly.

Given that the Fund will be treated as a “C” corporation for federal tax purposes, it will incur tax expenses. In calculating its NAV in accordance with generally accepted accounting principles, the Fund will, among other things, account for its deferred tax liability and/or asset balances. The Fund will accrue a deferred income tax liability balance, at the currently effective maximum statutory federal income tax rate (currently 21%) plus an estimated state and local income tax rate, for its future tax liability associated with the capital appreciation of its investments and the distributions it receives on equity securities of MLPs considered to be returns of capital and for any net operating gains. Any deferred tax liability balance will reduce the Fund's NAV. On the Fund's sale of a portfolio security, it may recognize gains for federal, state and local income tax purposes, which may result in income taxes imposed on the Fund. No assurance can be given that such taxes will not exceed the Fund's deferred tax liability assumptions for purposes of computing its NAV per share, which would result in an immediate reduction of that value, which could be material.

Unless otherwise stated, information (including holdings and portfolio characteristics) is as of the date indicated and is subject to change without notice.

Your common stock at any point in time may be worth less than your original investment, even after taking into account any reinvestment of dividends and distributions. Closed-end funds do not continuously offer shares for sale as open-end mutual funds do. A closed-end fund is not required to buy its shares back from investors upon request. The share price of a closed-end fund is based on the market value. Additional risks and uncertainties may also adversely affect and impair the Fund.

Shares of closed end funds frequently trade at a discount of their net asset value in the secondary market and the net asset value of the closed-end shares may decrease. Closed-end funds are subject to various risks, including management’s ability to meet the Fund’s investment objective and to manage the Fund’s portfolio when the underlying securities are redeemed or sold, during periods of market turmoil and as investors’ perceptions regarding closed-end funds or their underlying investments change. The investment return and principal value of an investment will fluctuate so that the shares may be worth more or less than their original cost.

The Fund is classified as non-diversified. As such, the percentage of the Fund’s assets invested in any single issuer or a few issuers is not limited as much as it is for a fund classified as diversified. Investing a higher percentage of its assets in any one or a few issuers could increase the Fund’s risk of loss and its share price volatility, because the value of its shares would be more susceptible to adverse events affecting those issuers.

Certain products and services may not be available in all jurisdictions or to all client types. The information provided herein is not directed at any investor or category of investors and is provided solely as general information about our products and services and to otherwise provide general investment education. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action as Neuberger Berman Group LLC (and its affiliates, “Neuberger”) is not undertaking to provide impartial investment advice, act as an impartial adviser, or give advice in a fiduciary capacity with respect to the materials presented herein. If you are an individual retirement investor, contact your financial advisor or other non-Neuberger fiduciary about whether any given investment idea, strategy, product or service described herein may be appropriate for your circumstances.

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