NEUBERGER HIGH YIELD STRATEGIES FUND ANNOUNCES PRELIMINARY RESULTS OF RIGHTS OFFERING

NEW YORK, April 16, 2026 /PRNewswire/ -- Neuberger High Yield Strategies Fund Inc. (NYSE American: NHS) (the "Fund") has announced today the preliminary results of its transferable rights offering (the "Offer"), which commenced on March 23, 2026 and expired on April 15, 2026 (the "Expiration Date").

Pursuant to the Offer, the Fund issued one transferable right (a "Right") for each share of common stock of the Fund ("Common Stock") held by stockholders of record as of March 23, 2026. Holders of Rights were entitled to purchase Common Stock by submitting three Rights and the subscription price per share for each share purchased. In accordance with the terms of the Offer, the final subscription price of $6.50 per share of Common Stock was equal to 92.5% of the Fund's net asset value per share of Common Stock at the close of trading on the NYSE American on the Expiration Date.

Based on the preliminary results, the Offer was over-subscribed. The Offer is expected to result in the issuance of approximately 10,463,948 shares of Common Stock and the gross proceeds of the Offer are expected to be approximately $68.0 million. The shares of Common Stock subscribed for will be issued promptly after completion of the pro rata allocation of the over-subscription shares and receipt of all stockholder payments. The Fund will return to subscribing investors the full amount of any excess payments. The final results of the Offer will be announced at a later date.

The information in this press release is not complete and is subject to change. This document is not an offer to sell any securities and is not soliciting an offer to buy any securities in any jurisdiction where the offer or sale is not permitted. This document is not an offering, which can only be made by a prospectus. Investors should consider the Fund's investment objective, risks, charges and expenses carefully before investing. Copies of the Fund's prospectus supplement and accompanying prospectus and other documents the Fund has filed with the Securities and Exchange Commission may be obtained by visiting the EDGAR database on the SEC's website at www.sec.gov.

Inquiries regarding the Offer should be directed to the Fund's Information Agent, EQ Fund Solutions, LLC, at (800) 290-6428.

About Neuberger High Yield Strategies Fund Inc. The Fund's investment objective is to seek high total return (income plus capital appreciation). Under normal market conditions, the Fund invests at least 80% of its total assets in high yield debt (below investment grade) securities of U.S. and foreign issuers. The Fund may invest up to 20% of its total assets in other securities and financial instruments, and up to 15% of its total assets in collateralized loan obligations.

About Neuberger

Neuberger is an employee-owned, private, independent investment manager founded in 1939 with approximately 3,000 employees across 26 countries. The firm manages $567 billion of equities, fixed income, private markets, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger's investment philosophy is founded on active management, fundamental research and engaged ownership. The firm is proud to be recognized for its commitment to its two constituents, clients and employees. Again in 2025, we were named Best Asset Manager for Institutional Investors in the US (Crisil Coalition Greenwich) and the #1 Best Place to Work in Money Management (Pensions & Investments, firms with more than 1,000 employees). Neuberger has no corporate parent or unaffiliated external shareholders. Visit www.nb.com for more information, including www.nb.com/disclosure-global-communications for information on awards. Data as of March 31, 2026.

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

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