2021 ESG Annual Report

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 2,500 professionals. For eight 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 $447 billion in client assets as of March 31, 2022. For more information, please visit our website at www.nb.com.

TABLE OF CONTENTS

STAYING FOCUSED

1

ENGAGEMENT AND PROXY VOTING Our Approach to Engagement

41 44 53

OUR INVESTMENT APPROACH Our Commitment to ESG Integration Proprietary ESG Ratings and Analysis INNOVATIONS AND INSIGHTS Our Net-Zero Commitment Passive ESG: The Data Conundrum

Engagement Case Studies

12 16

Proxy Voting, NB Votes & Statistics

FIRM STAKEHOLDER METRICS

62

23 30

VOICE OF THE CLIENT Hiscox Canada Post Corporation

8

32 49

UBS Global Wealth Management

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