Neuberger Berman MLP Income Fund Announces Portfolio Manager Conference Call Wednesday, May 10, 2017

NEW YORK, May 3, 2017 /PRNewswire/ -- Neuberger Berman MLP Income Fund Inc. (NYSE MKT: NML) (the "Fund") has announced a conference call with the Fund's portfolio managers, Doug Rachlin and Yves Siegel, to be held on Wednesday, May 10, 2017 at 4:15 PM (Eastern). During the call, the portfolio managers will provide an update and perspective on the marketplace for master limited partnerships ("MLPs") and review the Fund's performance and investment positioning.

Questions for the portfolio managers may be submitted in advance to the following email address: NML@NB.COM. No questions from participants will be taken during the call. The deadline for email submission of questions is Tuesday, May 9, 2017 at 8:00 PM (Eastern). Details for the call, including the dial-in information will also be posted to the Neuberger Berman website, www.nb.com, in advance of the call.

The most recent publicly available information regarding the Fund's portfolio attributes and manager commentary is posted to the Neuberger Berman website in the "Closed-End Funds" section of www.nb.com.Please see accompanying link: http://www.nb.com/Pages/Public/en-us/Products/mlp-income-fund.aspx to access the Fund's most recent fact sheet.This reference to Neuberger Berman's website is intended to allow investors public access to information regarding the Fund and does not, and is not intended to, incorporate Neuberger Berman's website in this release.

The Fund, which is advised by Neuberger Berman, one of the world's leading employee-controlled money managers, has an investment objective to seek total return with an emphasis on cash distributions. The Fund invests at least 80% of its managed assets in MLPs or limited liability companies that have substantially similar economic characteristics to MLPs and currently expects its MLP investments to emphasize companies that the portfolio managers believe have growth potential and operate in the midstream natural resources sector.

Call Details:

Participant Dial-In (Toll Free): (877) 515-6681
Conference ID #: 14367897
A replay of the call will be available on NB.com starting May 12, 2017

About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 19 countries, Neuberger Berman's team is more than 1,900 professionals. The company was named the #1 firm in Pensions & Investments 2016 Best Places to Work in Money Management survey (among those with 1,000 employees or more). Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $267 billion in client assets as of March 31, 2017. For more information, please visit our website at www.nb.com.

Certain statements in this press release constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Fund, or industry results, to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. As a result, no assurance can be given as to future results, levels of activity, including the level of leverage, performance or achievements, and neither the Fund nor any other person assumes responsibility for the accuracy and completeness of such statements in the future.

Investments in MLP units entail substantial risks. The values and prices of MLP units depend on business, economic and other factors affecting those issuers. In addition, the MLP units may decline due to general market conditions which are not specifically related to a particular company, such as real or perceived adverse economic conditions, changes in the general outlook for earnings, changes in interest or currency rates, commodity prices or adverse investor sentiment generally.

An investment in MLP units involves certain risks which differ from an investment in the securities of a corporation. Holders of MLP units or similar securities have limited control and voting rights on matters affecting the entity in which they hold an interest. In addition, there are certain tax risks associated with an investment in MLP units (see below) and conflicts of interest exist between common unit holders and the general partner. For example, conflicts of interest may arise from incentive distribution payments paid to the general partner, or referral of business opportunities by the general partner or one of its affiliates to an entity other than the MLP. The Fund is not responsible for operating MLPs and similar entities and cannot control or monitor their compliance with applicable tax, securities and other laws and regulations necessary for the profitability of such investments. Furthermore, the structures and terms of the MLPs and other entities may not be indicative of the structure and terms of every entity in which the Fund invests. Although the MLP sector has grown significantly in recent years, such market trends may not continue due to economic conditions, which are not predictable, or other factors.

Because of its concentration in MLP investments, the Fund is not eligible to be a regulated investment company under the Internal Revenue Code of 1986, as amended (the "Code"). Accordingly, the Fund will be treated as a taxable regular corporation, or so called "C" corporation, for federal tax purposes ("'C' corporation"). As a result, the Fund will be subject to federal income tax on its taxable income at the graduated rates applicable to corporations (currently at a maximum rate of 35%) as well as state and local income taxes. As a consequence of this concentration, the aggregate returns the Fund realizes may be adversely affected if a small number of investments perform poorly.

Given that the Fund will be treated as a "C" corporation for federal tax purposes, it will incur tax expenses. In calculating its NAV in accordance with generally accepted accounting principles, the Fund will, among other things, account for its deferred tax liability and/or asset balances.The Fund will accrue a deferred income tax liability balance, at the currently effective maximum statutory federal income tax rate (currently 35%) plus an estimated state and local income tax rate, for its future tax liability associated with the capital appreciation of its investments and the distributions it receives on equity securities of MLPs considered to be returns of capital and for any net operating gains. Any deferred tax liability balance will reduce the Fund's NAV. On the Fund's sale of a portfolio security, it may recognize gains for federal, state and local income tax purposes, which may result in income taxes imposed on the Fund. No assurance can be given that such taxes will not exceed the Fund's deferred tax liability assumptions for purposes of computing its NAV per share, which would result in an immediate reduction of that value, which could be material.

Shares of closed-end funds frequently trade at a discount of their net asset value in the secondary market and the net asset value of the closed-end shares may decrease. Closed-end funds are subject to various risks, including management's ability to meet the Fund's investment objective and to manage the Fund's portfolio, during periods of market turmoil and as investors' perceptions regarding closed-end funds or their underlying investments change. The investment return and principal value of an investment will fluctuate so that the shares may be worth more or less than their original cost.

NML Contact: Tony Maltese, 212.476.9229, AMaltese@NB.com

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