Neuberger Berman Next Generation Connectivity Fund Announces Initial Distribution

NEW YORK, June 17, 2021 /PRNewswire/ -- Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE: NBXG) (the "Fund"), a newly organized closed-end fund, announced today the declaration of its initial monthly distribution of $0.10 per share of common stock. The monthly distribution amount represents a 6.0% distribution rate relative to the Fund's initial public offering price of $20.00 per share. The distribution announced today is payable on July 30, 2021, has a record date of July 15, 2021 and has an ex-date of July 14, 2021.

Under its level distribution policy, the Fund anticipates that it will make regular monthly distributions, subject to market conditions, of $0.10 per share of common stock, unless further action is taken to determine another amount. The Fund's ability to maintain its current distribution rate will depend on a number of factors, including the amount and stability of income received from its investments, availability of capital gains, and the level of other Fund fees and expenses. There is no assurance that the Fund will always be able to pay a distribution of any particular amount or that a distribution will consist of only net investment income.

Due to an effort to maintain a stable distribution amount, the distribution announced today, 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. The notice would be for informational purposes and not for tax reporting purposes, and would disclose, among other things, estimated portions of the distribution, if any, consisting of net investment income, capital gains and return of capital. The final determination of the source and tax characteristics of all distributions paid in 2021 will be made after the end of the year.

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, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 25 countries, Neuberger Berman's diverse team has over 2,300 professionals. For seven 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). In 2020, the PRI named Neuberger Berman a Leader, a designation awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. The PRI also awarded Neuberger Berman an A+ in every eligible category for our approach to ESG integration across asset classes. The firm manages $402 billion in client assets as of March 31, 2021. For more information, please visit our website at www.nb.com.

A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security. The Fund has completed its initial public offering. An investor should carefully read the Fund's prospectus, which includes a discussion of investment objectives, risk factors, fees and expenses, before investing. A copy of the final prospectus relating to the offering may be obtained from the Fund at 877.628.2583, or contact your financial advisor.

Statements made in this release that look forward in time involve risks and uncertainties. Such risks and uncertainties include, without limitation, 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.

Contact:
Neuberger Berman Investment Advisers LLC
Investor Information
(877) 461-1899

SOURCE Neuberger Berman

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