Neuberger Berman Deeply Saddened to Announce Unexpected Passing of Patrick Flynn, Co-Portfolio Manager of Neuberger Berman High Yield Strategies Fund Inc.

Media Contact:

Alex Samuelson, 212 476 5392, Alexander.Samuelson@NB.com

NEW YORK, APRIL 26, 2019 — Neuberger Berman and the Neuberger Berman High Yield Strategies Fund Inc. [NYSE American: NHS] (the “Fund”) are deeply saddened to announce that Patrick Flynn, Co-Portfolio Manager of the Fund, passed away unexpectedly the evening of April 23, 2019. Neuberger Berman and the Fund’s Directors mourn his untimely passing and along with our colleagues and clients extend our deepest condolences to his loved ones.

Current Co-Portfolio Managers Thomas P. O’Reilly, Russ Covode, Daniel Doyle and Joseph Lind, with an average of 29 years of industry experience, continue to manage the Fund. Chris Kocinski, Managing Director, and Steve Ruh, Senior Vice President, Co-Directors of Non-Investment Grade Credit Research, who lead a team of 26 research analysts with an average of 12 years of industry experience, support them.

All of those individuals contribute to Neuberger Berman’s broader Non-Investment Grade Credit team of portfolio managers, research analysts, portfolio specialists and traders. Other senior leaders on the team include Managing Directors and Portfolio Managers Joe Lynch, Steve Casey, Vivek Bommi, and Pim van Schie. The team-based approach to portfolio management positions the Non-Investment Grade team to deliver the same continuity of investment process and risk management that has distinguished it for the past two decades.

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 23 countries, Neuberger Berman’s team is more than 2,100 professionals. For five consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). Tenured, stable and long-term in focus, the firm has built a diverse team of individuals united in their commitment to delivering compelling investment results for our clients over the long term. That commitment includes active consideration of environmental, social and governance factors. The firm manages $323 billion in client assets as of March 31, 2019. For more information, please visit our website at www.nb.com.

Certain statements in this press release, such as those related to changes in a portfolio management team, constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Fund, or industry results, to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Among other risks and uncertainties are the possibility of differences in the timing or nature of any portfolio manager changes, the adverse effect from a decline in the securities markets or a decline in the Fund's performance, a general downturn in the economy, competition from other closed end investment companies, changes in government policy or regulation, inability of the Fund’s investment adviser to attract or retain key employees, inability of the Fund to implement its investment strategy, inability of the Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations. As a result, no assurance can be given as to future results, levels of activity, performance or achievements, and neither the Fund nor any other person assumes responsibility for the accuracy.