The Neuberger Berman Large Cap Value Fund Institutional Class (ticker: NBPIX) (the "Fund") generated a 14.67% return for the 2020 calendar year, ranking in the fourth percentile of Morningstar, Inc.'s Large Value Category (out of 1,200 large value funds), and outperforming the Russell 1000 Value Index return of 2.80% by 1,187 basis points. The Fund's returns were 12.19% for the three years, 15.56% for five years, and 10.68% for 10 years ended December 31, 2020 placing it in the 1st (out of 1,128 large value funds), 1st (out of 998 large value funds), and 26th (out of 716 large value funds) Morningstar, Inc. percentiles respectively. The Fund's Institutional Class generated a 28.66% return for the fourth quarter of 2020, ranking in the second percentile of Morningstar, Inc.'s Large Value Category (out of 1,215 large value funds).