Neuberger Berman High Yield Strategies Fund Announces Decrease In Distribution Rate And Declaration Of Next Monthly Distribution

NEW YORK, March 29, 2018

NHS decreased its monthly distribution rate to $0.0658 per share of common stock from the prior monthly distribution rate of $0.0725 per share.  NHS's annual distribution per share of common stock is now $0.7896 versus the prior annual amount of $0.87.  The new distribution rate represents an annualized distribution rate of approximately 6.21% per share of common stock based on the Fund's net asset value of $12.71 per share on March 28, 2018.

The Fund's decrease in distribution rate is the result of numerous factors, including the decline in the absolute level of yields available in the high yield market, the degree of credit spread tightening that has occurred in the high yield market, the increase in the Fund's cost of leverage and the resultant overall reduction in the level of income generated by the Fund relative to its current distribution amount.

In an effort to maintain a stable distribution amount, the distribution declared, as well as future distributions, may consist of net investment income, realized capital gains and return of capital. In compliance with Section 19 of the Investment Company Act of 1940, as amended, a notice would be provided for any distribution that does not consist solely of net investment income. This notice would be for informational purposes, and would disclose, among other things, estimated portions of the distributions, if any, consisting of net investment income, capital gain and return of capital.

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 20 countries, Neuberger Berman's team is approximately 1,900 professionals. For five consecutive years, the company has been named to 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 fosters an investment culture of fundamental research and independent thinking. It manages $295 billion in client assets as of December 31, 2017. For more information, please visit our website at www.nb.com.