Neuberger Berman High Yield Strategies Fund Inc. announced that it has successfully completed a private placement of $26,500,000 through a Floating Rate Senior Note (Note) with a major unaffiliated financial institution. The Note pays interest based on a floating rate and matures in September 2023. The transaction announced on June 3, 2022 increases the amount of leverage employed by the Fund in order to bring it more in line with the Fund's asset level following the Fund's recently completed transferable rights offering, which resulted in the issuance of 4,763,981 shares of common stock and gross proceeds to the Fund of approximately $40.9 million.

The proceeds from the issuance of the Note will be invested by the Fund in additional portfolio securities consistent with the Fund's investment objective and primary investment strategy.