2a:I[566771,["/_next/static/immutable/chunks/07b8ue4-gexxm.js","/_next/static/immutable/chunks/12z8-thcbzkt8.js","/_next/static/immutable/chunks/408um0f5kb-_e.js","/_next/static/immutable/chunks/1o0ma613q5ory.js","/_next/static/immutable/chunks/0l6gnzlx3wphi.js","/_next/static/immutable/chunks/1f-i91mpc5xnr.js","/_next/static/immutable/chunks/26aq22fxm4y05.js","/_next/static/immutable/chunks/348k0frvx_j1d.js","/_next/static/immutable/chunks/3sxpspxzc8esg.js","/_next/static/immutable/chunks/2xt9e7rq5-7sh.js","/_next/static/immutable/chunks/2wby2fkqhmaxq.js","/_next/static/immutable/chunks/1f03k49_sdi1z.js","/_next/static/immutable/chunks/0vljqs-5m9fz0.js","/_next/static/immutable/chunks/3x2u5vtyq4pe4.js","/_next/static/immutable/chunks/0_v__yil9i2bb.js","/_next/static/immutable/chunks/31z1asu9u1h9n.js","/_next/static/immutable/chunks/042sw2asyhpwb.js","/_next/static/immutable/chunks/135nok3wxlv3n.js","/_next/static/immutable/chunks/17qohmd84ly75.js","/_next/static/immutable/chunks/384qbnyq0q7k5.js","/_next/static/immutable/chunks/0sm5neguadrpt.js","/_next/static/immutable/chunks/15o0cnfhk-7qz.js","/_next/static/immutable/chunks/1vm-wh-g67j6m.js","/_next/static/immutable/chunks/2pb6rnwavnpky.js","/_next/static/immutable/chunks/3bkwrp8h1tb9_.js","/_next/static/immutable/chunks/3_wzmqceay9yd.js","/_next/static/immutable/chunks/0oqn364m9froo.js","/_next/static/immutable/chunks/1sr25o4yo3puk.js","/_next/static/immutable/chunks/13zki0xsw8b9e.js","/_next/static/immutable/chunks/146d5y1zli9ah.js","/_next/static/immutable/chunks/3pd3urbi6uvh8.js","/_next/static/immutable/chunks/40uarj5gr5gen.js","/_next/static/immutable/chunks/31-9kpvfwt-xt.js","/_next/static/immutable/chunks/1mvukyujm2es0.js","/_next/static/immutable/chunks/3yi49tzehcwp5.js"],"ProfileTrackerWrapper"] 2b:I[411527,["/_next/static/immutable/chunks/07b8ue4-gexxm.js","/_next/static/immutable/chunks/12z8-thcbzkt8.js","/_next/static/immutable/chunks/408um0f5kb-_e.js","/_next/static/immutable/chunks/1o0ma613q5ory.js","/_next/static/immutable/chunks/0l6gnzlx3wphi.js","/_next/static/immutable/chunks/1f-i91mpc5xnr.js","/_next/static/immutable/chunks/26aq22fxm4y05.js","/_next/static/immutable/chunks/348k0frvx_j1d.js","/_next/static/immutable/chunks/3sxpspxzc8esg.js","/_next/static/immutable/chunks/2xt9e7rq5-7sh.js","/_next/static/immutable/chunks/2wby2fkqhmaxq.js","/_next/static/immutable/chunks/1f03k49_sdi1z.js","/_next/static/immutable/chunks/0vljqs-5m9fz0.js","/_next/static/immutable/chunks/3x2u5vtyq4pe4.js","/_next/static/immutable/chunks/0_v__yil9i2bb.js","/_next/static/immutable/chunks/31z1asu9u1h9n.js","/_next/static/immutable/chunks/042sw2asyhpwb.js","/_next/static/immutable/chunks/135nok3wxlv3n.js","/_next/static/immutable/chunks/17qohmd84ly75.js","/_next/static/immutable/chunks/384qbnyq0q7k5.js","/_next/static/immutable/chunks/0sm5neguadrpt.js","/_next/static/immutable/chunks/15o0cnfhk-7qz.js","/_next/static/immutable/chunks/1vm-wh-g67j6m.js","/_next/static/immutable/chunks/2pb6rnwavnpky.js","/_next/static/immutable/chunks/3bkwrp8h1tb9_.js","/_next/static/immutable/chunks/3_wzmqceay9yd.js","/_next/static/immutable/chunks/0oqn364m9froo.js","/_next/static/immutable/chunks/1sr25o4yo3puk.js","/_next/static/immutable/chunks/13zki0xsw8b9e.js","/_next/static/immutable/chunks/146d5y1zli9ah.js","/_next/static/immutable/chunks/3pd3urbi6uvh8.js","/_next/static/immutable/chunks/40uarj5gr5gen.js","/_next/static/immutable/chunks/31-9kpvfwt-xt.js","/_next/static/immutable/chunks/1mvukyujm2es0.js","/_next/static/immutable/chunks/3yi49tzehcwp5.js"],"default"] 2c:T1fca3,

Neuberger Berman Asset Management Ireland Limited German Branch

Frankfurt am Main

Jahresabschluss zum Geschäftsjahr vom 01.01.2023 bis zum 31.12.2023

Annual Report and Financial Statements for the year ended 31 December 2023

Registered Number: 629805

Contents

Directors and other information

Strategic report

Directors' report

Statement of directors' responsibilities in respect of the directors' report and the financial statements

Independent Auditor's Report to the member of Neuberger Berman Asset

Management Ireland Limited

Financial Statements

Statement of Comprehensive Income

Statement of Financial Position

Statement of Changes in Equity

Notes to the Financial Statements

Directors and other information

Registered Office

2 Central Plaza

Dame Street

Dublin 2

Ireland

D02 TOX4

Company Registration Number

629805

Directors

G Alexander	(independent)
M Brady	(non-independent)
M Green	(non-independent) - Resigned 15 ^th February 2023
J C F Harvey	(non-independent) - Resigned 29 ^th June 2023
J O'Callaghan	(non-independent)
D Reidy	(independent)
C Charles-Barral	(non-independent) - Appointed 21 ^st November 2023
P Lomelo	(non-independent) - Appointed 13 ^th December 2023

Company Secretary

MFD Secretaries Limited

32 Molesworth Street

Dublin 2

Ireland

Banker

Citibank

1 North Wall Quay

Dublin 1

Ireland

Auditor

KPMG

1 Harbourmaster Place

IFSC

Dublin 1

Ireland

Legal Advisor

Maples and Calder LLP

75 St Stephens Green

Dublin 2

Ireland

Strategic report

The directors present their Strategic report for Neuberger Berman Asset Management Ireland Limited (the "Company") for the year ended 31 December 2023.

Results

The profit for the year, after taxation, amounted to US$ 5,797,000 (2022: US$ 3,906,000).

Principal activity and future outlook

The Company was incorporated on 5 July 2018 under registration number 629805 and was authorised as the Alternative Investment Fund Manager ("AIFM") on 28 February 2019 for Neuberger Berman Investment Funds II Plc ("NBIF II"), a Qualifying Investor Alternative Investment Fund ("QIAIF"), which is incorporated in Ireland and regulated by the Central Bank of Ireland ("CBI"). The Company is also authorised with ancillary permissions to perform the following services ("IPM" business):

―	Individual portfolio management
―	Investment advice (to include distribution and marketing)
―	Reception and transmission of orders in relation to financial instruments

The Company received approval from the CBI in March 2021 to extend its regulatory permissions to include that of a UCITS Management Company under the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. No 352 of 2011), as amended. The Company became the UCITS Management Company of Neuberger Berman Investment Funds Plc ("NBIF") from 1st July 2021. Across the remainder of 2021, the Company took on the responsibility of the distribution agreements which relate to NBIF investors. Additionally, the Company has a number of IPM accounts for which it provides investment management services.

These will continue to be the principal activities of the Company for the foreseeable future.

Business review

The Company is a wholly owned subsidiary of Neuberger Berman Europe Limited, and the ultimate parent is NBSH Acquisition LLC, ("the Group"). The Group is run on an integrated basis through business units, not by the legal construct of its subsidiaries. The Group defines a high level strategy and business model, with the Board of the Company responsible for the strategy and business model of the Company within the context of the Group. The Group provides investment management services to clients throughout the Americas, Europe and Asia Pacific across a broad range of investment products.

The Company's primary source of income is from annual management fees received from NBIF, NBIF II and IPM fees.

The Company has an established operating platform in 7 EU locations (Ireland, France, The Netherlands, Germany, Spain, Italy and Sweden) with an average employee number for the year of 89 employees in Portfolio Management, Client Coverage, Compliance, Risk and other support and control functions (2022: 87 employees).

The Statement of Comprehensive Income for the year is set out on page 13. The directors consider both the level of business during the year and the financial position of the Company at the end of the year to be consistent with expectations.

The Company's key financial and other performance indicators during the year were as follows:

	2023	2022
	$'000	$'000
Turnover	248,153	258,979
Profit on ordinary activities before taxation	8,640	7,194
Profit after tax	5,797	3,906
Average number of employees	89	87

Principal risks and uncertainties

The Group's risk management framework helps the Group meet its business objectives within acceptable risk parameters and it is reviewed regularly to identify new and emerging risks. The Group's culture embeds the management of risk at all levels within the organisation.

The Company adopts its own risk management framework, a risk appetite statement, including risk management policies and procedures, consistent with the Group, taking into account its particular business profile. The principal risks of the Company are aligned with the principal risks of the Group, including investment performance, business concentration, market, key personnel, operational and IT, regulatory, and liquidity risks. The risks and uncertainties below relate specifically to the Company.

Investment performance

The main risk associated with investment performance is that portfolios fail to achieve their performance hurdles or benchmarks, leading to increased client redemptions and a reduction in Assets Under Management (AUM). This is mitigated through having a robust investment process including detailed research, clearly articulated investment philosophy and an independent Investment Risk function that ensures that the level of risk taken is consistent with expectations.

Market and business concentration

This is the risk that market conditions lead to a reduction of AUM. This is mitigated by having a broad range of clients by distribution channel, product and region. The Company also seeks to reduce risk through diversification of its businesses across geographic regions. Unexpected shocks in one or more markets could have an adverse effect on financial performance.

Outsourcing

There is a potential risk of losses through failed outsourced processes which may have an adverse impact on the business and its clients. This is mitigated by the Company having a strong control framework including oversight of outsourced functions, activities, processes and systems.

Key personnel

The Company has determined that key management personnel comprises only the Board of Directors. Information on which is contained in Note 6. The Company had no transactions with key management personnel (aside from compensation), close family members of key management personnel or any entity controlled by those parties.

Operational and IT

This is the risk of losses through failed internal processes, people, systems or external events which may have an adverse impact on the business and its clients either financially or reputationally. This may include trade errors and cyber-attacks. These are mitigated through a strong control framework and control systems designed to minimise these risks to a level that is consistent with the Group's risk appetite.

Regulatory change

The risk that a change in laws and regulations may impact the business either directly or indirectly by reducing investors' appetites for products, restricting the Company's ability to sell certain products or pursue specific investment strategies. The Company ensures that its activities are limited to those within its permissions and that its staff are sufficiently qualified, experienced and trained.

Liquidity

The risk of a liquidity event is that it may lead the Company to be unable to meet its payment obligations as they fall due. This is mitigated by the Company's risk & control environment combined with the Company reviewing its financial position and resulting liquidity on a regular basis to ensure significant cash or highly liquid assets are available to meet its liabilities.

Environmental, Social, and Governance ("ESG")

The risk of non-compliance with ESG regulations is mitigated by the Company reviewing its ESG requirements, in particular under Regulation (EU) 2019/2088 (the "SFDR") and Regulation EU/2020/852 (the "Taxonomy") and ensuring there are suitable frameworks, methodology and experienced staff in place to ensure compliance with the SFDR and Taxonomy by the Company.

Tax matters

In preparing the Company's financial statements, management is required to make judgments and estimates regarding tax matters of which the outcome is uncertain. Management estimations of tax on uncertain positions are considered to be a reasonable and prudent estimate based on information available as at the reporting date. There is a risk that actual amounts may be different to management estimates. Tax advisors are engaged on areas of complexity to mitigate the risk on uncertain tax positions.

Approved by the Board and signed on its behalf by:

15 March 2024

M Brady, Director

G Alexander, Director

Directors' report

The directors present their annual report and the financial statements, for the year ended 31 December 2023.

Directors

The directors, who held office during the year and up to the date of accounts approval, were as follows:

G Alexander
M Brady
M Green	- Resigned 15 ^th February 2023
J C F Harvey	- Resigned 29 ^th June 2023
J O'Callaghan
D Reidy
C Charles-Barral	- Appointed 21 ^st November 2023
P Lomelo	- Appointed 13 ^th December 2023

The directors and company secretary do not have any disclosable interest in the issued share capital of the Group.

Directors' indemnities

The Company has made qualifying third party indemnity provisions for the benefit of its directors which were made during the year and remain in force at the date of this report.

Directors' remuneration is disclosed in Note 6 of the notes to the financial statements.

Political contributions

The Company made no political donations nor incurred any political expenditure in the year.

Dividends

The Board recommend a final dividend for the year of $1.1583 per Ordinary share totalling $6,000,000 (2022: No final dividend). No interim dividends were paid during the year (2022: No interim dividend).

Business review and principal activities

The business review and principal activities are included in the strategic report.

Future developments

The directors consider the 'Principal activity and future outlook' paragraph of the strategic report noted on page 2 to be a fair depiction of their views and opinions on the future developments of the Company.

Results for the year

The results for the Company are set out on page 13.

Directors' report

Accounting records

The directors believe that they have complied with the requirements of Sections 281 to 285 of the Companies Act 2014 with regards to adequate accounting records by employing accounting personnel with appropriate expertise and by providing adequate resources to the financial function. The accounting records of the Company are maintained at the business office of Neuberger Berman Asset Management Ireland Limited, at 2 Central Plaza, Dame Street, Dublin 2, Ireland, D02 TOX4.

Audit Committee

The board of directors have considered the requirements of Section 167 of the Companies Act 2014. Given the nature of the NBAMIL operations, combined with the substance and level of complexity of turnover and expenses, an audit committee has not been established. The establishment of an audit committee will remain under review and re-assessed on an annual basis.

Branch operations

The Company has overseas branch operations as follows:

Name of branch	Country of operation
Milan Branch	Italy
Paris Branch	France
Hague Branch	Netherlands
Frankfurt Branch	Germany
Madrid Branch	Spain
Stockholm Branch	Sweden

Events during the reporting period

During 2023, financial market conditions that impact the Company have continued to be subject to sustained high inflation, with elevated interest rates following monetary actions by major central banks, along with tightening of credit conditions as a direct result of recent events in the banking sector. These market conditions are contributing to additional volatility and fluctuations in market variables including, but not limited to, interest rates, foreign exchange, equity prices, commodity prices, widening credit spreads, implied volatilities and asset correlations. The Company is continuing to actively monitor market conditions and potential associated impacts.

The Israel-Hamas war that began in October 2023 and the continuing Russian invasion of Ukraine will continue to be monitored for any potential impact on the activities of the Company. The Company's exposure to Israel activity and Russia-Ukraine is, and remains, insignificant.

Events after the reporting period

As at the date of approval of these annual financial statements, the Board of Directors are not aware of any other significant events affecting the Company since the end of the financial year.

Directors' report

Going concern

No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

The directors have made an assessment of the company's ability to continue as a going concern, considering both the company's current performance and the company's outlook, using the information available up to the date of issue of these financial statements.

The Company manages and monitors its capital and liquidity, and various stresses are applied to those positions to understand potential impacts from market downturns. Our key sensitivities and the impacts on our capital position from a range of stresses, do not give rise to any material uncertainties over the ability of the company to continue as a going concern.

Based upon the available information, the directors consider that the company has the plans and resources to manage its business risks successfully and that it remains financially strong and well diversified. The Company is regulated by the CBI and its ongoing authorisation is a key factor in its ability to continue to operate. There are no concerns around the company's ongoing CBI authorisation. Having reassessed the principal risks and uncertainties (both financial and operational) the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

Disclosure of information to auditor

Each of the directors, who held office at the date the directors' report is approved confirms that:

(a)	so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware; and
(b)	the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Auditor

Pursuant to Section 383 (2) of the Companies Act 2014, the auditor, KPMG Chartered Accountants will continue in office.

Directors' compliance statement

The directors, in accordance with Section 225 (2) of the Companies Act 2014, acknowledge that they are responsible for securing the Company's compliance with certain obligations specified in that section arising from the Companies Act 2014, the Market Abuse (Directive 2003/6/EC) Regulations 2005, the Prospectus (Directive 2017/1129/EC) Regulations 2005, the Transparency (Directive 2004/109EC) Regulations 2007 (as amended), and Tax Laws ('relevant obligations').

The directors confirm that:

―	a compliance policy statement has been drawn up setting out the Company's policies with regards to such compliance;
―	appropriate arrangements and structures that, in their opinion, are designed to secure material compliance with the Company's relevant obligations, have been put in place; and
―	a review has been conducted during 2023, of the arrangements and structures that have been put in place to secure the Company's compliance with its relevant obligations.

Directors' report

Corporate Governance Code

The Board has assessed the measures included in the voluntary 'Corporate Governance Code for Collective Investment Schemes and Management Companies' (the "Code") as published by the Irish Funds Industry Association ("IFIA") in 2011.

The Board has adopted appropriate corporate governance practices and procedures and is satisfied that it has complied with those provisions during the year ended 31 December 2023.

By order of the Board:

15 March 2024

M Brady, Director

G Alexander, Director

Statement of directors' responsibilities in respect of the directors' report and the financial statements

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law they have elected to prepare the financial statements in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the assets, liabilities and financial position of the Company and of its profit or loss for that year.

In preparing the financial statements, the directors are required to:

―	select suitable accounting policies and then apply them consistently;
―	make judgements and estimates that are reasonable and prudent;
―	state whether applicable Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
―	assess the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
―	use the going concern basis of accounting unless they either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

The directors are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the assets, liabilities, financial position and profit or loss of the Company and enable them to ensure that the financial statements comply with the Companies Act 2014. They are responsible for such internal controls as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Company and to prevent and detect fraud and other irregularities. The directors are also responsible for preparing a directors' report that complies with the requirements of the Companies Act 2014.

Legislation in the Republic of Ireland concerning the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board

15 March 2024

M Brady, Director

G Alexander, Director

Report on the audit of the financial statements

Opinion

We have audited the financial statements of Neuberger Berman Asset Management Ireland Limited ('the Company') for the year ended December 31, 2023 set out on pages 13 to 29, which comprise the Statement of Comprehensive Income, Statement of Financial Position and Statement of Changes in Equity and related notes, including the summary of significant accounting policies set out in note 2.

The financial reporting framework that has been applied in their preparation is Irish Law and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland issued in the United Kingdom by the Financial Reporting Council.

In our opinion:

―	the financial statements give a true and fair view of the assets, liabilities and financial position of the Company as at December 31, 2023 and of its profit for the year then ended;
―	the financial statements have been properly prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland; and
―	the financial statements have been properly prepared in accordance with the requirements of the Companies Act 2014.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (Ireland) (ISAs (Ireland)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with ethical requirements that are relevant to our audit of financial statements in Ireland, including the Ethical Standard issued by the Irish Auditing and Accounting Supervisory Authority (IAASA), and we have fulfilled our other ethical responsibilities in accordance with these requirements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information presented in the Annual Report together with the financial statements. The other information comprises the information included in the directors' report, directors and other information and strategic report. The financial statements and our auditor's report thereon do not comprise part of the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except as explicitly stated below, any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether, based on our financial statements audit work, the information therein is materially misstated or inconsistent with the financial statements or our audit knowledge. Based solely on that work we have not identified material misstatements in the other information.

Based solely on our work on the other information undertaken during the course of the audit, we report that:

―	we have not identified material misstatements in the directors' report;
―	in our opinion, the information given in the directors' report is consistent with the financial statements; and
―	in our opinion, the directors' report has been prepared in accordance with the Companies Act 2014.

Our opinions on other matters prescribed by the Companies Act 2014 are unmodified

We have obtained all the information and explanations which we consider necessary for the purposes of our audit.

In our opinion the accounting records of the Company were sufficient to permit the financial statements to be readily and properly audited, information and returns for our audit have been received from branches of the Company not visited by us and the Company financial statements are in agreement with the accounting records.

Matters on which we are required to report by exception

The Companies Act 2014 requires us to report to you if, in our opinion, the disclosures of directors' remuneration and transactions required by Sections 305 to 312 of the Act are not made. We have nothing to report in this regard.

Respective responsibilities and restrictions on use

Responsibilities of directors for the financial statements

As explained more fully in the directors' responsibilities statement set out on page 9, the directors are responsible for: the preparation of the financial statements including being satisfied that they give a true and fair view; such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error; assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and using the going concern basis of accounting unless they either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (Ireland) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A fuller description of our responsibilities is provided on IAASA's website at https://iaasa.ie/publications/description-of-the-auditors-responsibilities-for-the-audit-of-the-financial-statements/.

The purpose of our audit work and to whom we owe our responsibilities

Our report is made solely to the Company's members, as a body, in accordance with Section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

15 March 2024

James Casey

for and on behalf of KPMG

Chartered Accountants, Statutory Audit Firm

1 Harbourmaster Place

IFSC

Dublin 1

D01 F6F5

Statement of Comprehensive Income For the year ended 31 December 2023

		2023	2022
	Notes	$'000	$'000
Turnover	3	248,153	258,979
Cost of sales	4	(57,985)	(67,097)
Gross profit		190,168	191,882
Administrative expenses	7	(183,242)	(183,459)
Operating profit		6,926	8,423
Interest receivable		1,534	125
Other income / (expense)		180	(1,354)
Profit on ordinary activities		8,640	7,194
Tax on profit on ordinary	8	(2,843)	(3,288)
Total Comprehensive Income		5,797	3,906

All items dealt with in arriving at the results for the year ended 31 December 2023 relate to continuing operations. The Company has no items of other comprehensive income arising and therefore the total comprehensive income equals the profit for the year.

The notes on pages 16 to 29 form an integral part of these financial statements.

Statement of Financial Position As at 31 December 2023

		31 December 2023	31 December 2022
	Notes	$'000	$'000
Fixed Assets
Tangible assets	9	1,886	2,318
Current assets
Cash and cash equivalents		52,538	48,656
Debtors	10	26,138	26,957
		78,676	75,613
Creditors: Amounts falling due within one year	11	(48,342)	(50,250)
Net current assets		30,334	25,363
Total assets less current liabilities		32,220	27,681
Creditors: Amounts falling due after more than one year	12	(938)	(2,196)
Total assets less liabilities		31,282	25,485
Capital and reserves
Called-up share capital	14	5,929	5,929
Share premium account	14	4,008	4,008
Profit and loss account		21,345	15,548
Total shareholder's funds		31,282	25,485

The notes on pages 16 to 29 form an integral part of these financial statements.

On behalf of the board:

M Brady, Director

G Alexander, Director

Statement of Changes in Equity For the year ended 31 December 2023

	Called up Share Capital	Share Premium Account	Profit and Loss Account	Total Equity
	$'000	$'000	$'000	$'000
Balance at 31 December 2021	5,929	4,008	16,642	26,579
Dividend Paid	-	-	(5,000)	(5,000)
Profit and total comprehensive income for the year	-	-	3,906	3,906
Balance at 31 December 2022	5,929	4,008	15,548	25,485
Dividend Paid	-	-	-	-
Profit and total comprehensive income for the year	-	-	5,797	5,797
Balance at 31 December 2023	5,929	4,008	21,345	31,282

A final dividend payment of $0.96525 per Ordinary share totalling $5,000,000 in respect of the year ended 31 December 2021 was paid on 25 March 2022.

The notes on pages 16 to 29 form an integral part of these financial statements.

Notes to the financial statements for the year ended 31 December 2023

1. General Information

―	Individual portfolio management
―	Investment advice (to include distribution and marketing)
―	Reception and transmission of orders in relation to financial instruments

2. Significant Accounting policies

(a) Basis of Preparation of Financial Statements

These financial statements were prepared in accordance with Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102"), and with the Companies Act 2014. These financial statements have been prepared in accordance with applicable accounting standards and prepared on the going concern basis under the historical cost convention, as modified by the recognition of certain financial assets and liabilities measured at fair value. The functional and presentational currency of the Company is United States Dollar (USD). All currency amounts in the financial statements are presented to the nearest thousand USD.

The accounting policies set out below have, unless otherwise stated, been applied consistently to all years presented in these financial statements.

As a qualifying entity, the Company has taken advantage of the exemption in section 1.12 of FRS 102 from the requirement to prepare a Statement of Cash Flows and the requirement to disclose key management personnel compensation in total. The Company has also taken advantage of the exemption of not reporting related party transactions with wholly owned subsidiaries.

As the consolidated financial statements of the ultimate holding undertaking (refer to Note 16) include the equivalent disclosures, the Company has also taken the exemptions under FRS 102 available in respect of certain disclosures required by FRS 102.26 Share Based Payments.

The format and wording of the financial statements have been adapted from that contained in the Companies Act 2014 so that, in the opinion of the directors, it more appropriately reflects the nature of the Company's business as an investment management company.

(b) Going Concern

After making enquiries, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

(c) Foreign Currencies

The directors consider that USD is the currency that most faithfully represents the economic effects of the underlying transactions, events, and conditions of the Company. In preparing the financial statements, transactions in currencies other than the functional currency (foreign currencies) are recognised at the rates of exchange prevailing at the dates of the transactions. At the end of each reporting year, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. The resulting differences are accounted for through the Statement of Comprehensive Income.

(d) Turnover

Turnover is stated net of VAT. Management and distribution fees are recognised on an accruals basis and recorded when earned. Generally, funds and institutional clients are billed monthly or quarterly based on a percentage of the net asset value of the underlying fund or account. Performance fees are recognised once crystallised.

(e) Principal versus agent

Revenue received from Principal-Agent relationships for certain distribution fees from other group entities is shown on a net basis. The Company, as Agent retains no additional reward, risk or liability.

(f) Interest receivable

Interest receivable represents interest earned on cash and cash equivalent balances. Interest income is recognized in the Statement of Comprehensive Income as it accrues.

(g) Rebates

Rebates to third parties of management fees earned from collective investment schemes are recognised as an expense under Cost of Sales in the Statement of Comprehensive Income, separate from the management fees which are recorded as revenue. Rebates are recognised on an accruals basis and recorded when the management fees are earned. Generally rebates are accrued monthly and paid on a quarterly basis in arrears.

(h) Contingent deferred sales charge (CDSC)

The Company pays upfront commission payments to brokers / dealers to promote the sale of certain share classes that operate with a contingent deferred sales charge (CDSC). The upfront commission payment varies depending on the CDSC share class in which the investment has been made. Commission payments are recognised within administrative expenses in the period in which they are incurred.

The Company is entitled to receive a CDSC fee should an investor redeem their shares during the prescribed time period, which is recognised when an investor redeems.

(i) Assignment and transfer of receivables

The Company assigns and transfers certain distribution fee related receivables to an affiliate.

The receivable is assigned and transferred so as to transfer all the risks and benefits to the counterparty, without recourse to the Company. No currency, credit or market risks are retained by the Company. Up-front fees paid are expensed in the period in which they are incurred. The consideration received from the transferee is recognised at the same time.

(j) Pension Costs

The Company's Irish pension obligations are covered by payments to a defined contribution scheme administered by Irish Life on behalf of its Ireland employees. All amounts are charged to the Statement of Comprehensive Income when they become payable.

The Company also contributes to a number of defined contribution pension schemes on behalf of its non-Ireland employees. All such amounts are charged to the Statement of Comprehensive Income when they become payable.

(k) Share based payment scheme

The Group operates a share based payment scheme for key individuals, which is cash-settled. Charges for the scheme are allocated to the Company initially on a straight-line basis with any fair value adjustments to those units over the vesting period recognised in the Statement of Comprehensive Income. The units are subsequently revalued at fair value at the reporting date. Where an observable market price is available the units are re-measured to fair value. The units for which there is no observable market price, an external valuation methodology is utilised.

(l) Contingent compensation plan

The Group operates a contingent compensation plan. Under this plan, certain employees who are eligible to receive a bonus receive a portion of their total compensation in the form of contingent payments, subject to vesting.

Vesting is conditional on continued employment, the absence of which results in forfeiture of outstanding contingent compensation. An acceleration trigger occurs where an employee is expected to reach retirement age of either 15 years of service by the age of 45 or 10 years of service by the age of 60. On grant of an award the future costs of their share based compensation are accelerated over the remaining time until the trigger date.

As such, subject to the acceleration provision above, no expense is recognised for the year of award in respect of contingent compensation. The deferred element is recognised on a straight line basis over the following three years. In the event that forfeiture occurs, any expense recognised less payments made on vesting, is unwound.

(m) Taxation

Current Tax

The tax expense for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income.

The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date in the countries where the Company operates and generates taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. Provisions are established where appropriate on the basis of amounts expected to be paid to the tax authorities.

Deferred Tax

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. However, deferred tax liabilities are not recognised if they arise from the initial recognition of goodwill; or arise from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the balance sheet date and are expected to apply when the related deferred income tax asset is realised or the deferred income tax liability is settled.

Deferred income tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred income taxes assets and liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities where there is an intention to settle the balances on a net basis.

(n) Cash and Cash Equivalents

Cash and cash equivalents comprise cash balances and money market funds, which are redeemable the next business day.

(o) Trade and other debtors/creditors

Trade and other debtors are initially recognised at transaction price and stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors are initially recognised at transaction price and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

(p) Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is charged to the profit and loss account on a straight-line basis over the estimated useful lives of each part of an item of tangible fixed assets. The estimated useful lives are as follows:

Leasehold Improvements	Life of the relevant lease
Fixtures and Fittings	5 years
IT & Similar Equipment	3 years
Works of Art	Held at historical cost

The carrying value of tangible fixed assets is reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

(q) Expenses

Expenses are recognised in the Statement of Comprehensive Income as incurred and are accounted for on an accruals basis. Payments (excluding costs for services and insurance) made under operating leases are recognised in the profit and loss account on a straight-line basis over the term of the lease. Lease incentives received are recognised in the profit and loss account as an integral part of the total lease expense.

(r) Other income / other expenses

Other income / other expenses primarily relates to the effects of changes in foreign currencies.

(s) Judgements and key sources of estimation

Management estimation is required to determine the amounts of deferred tax assets/liabilities that should be recognised, based upon likely timing and level of future taxable profits. Estimates used for uncertain tax positions are measured at the best estimate required to settle the obligation.

Certain employees hold units which track shares in the Group. As the Group is not publicly traded, a third party valuation is obtained. The valuation includes a judgement as to which public companies are comparable to the Group and then using a market approach calculates an enterprise value. A discounted cash-flow analysis, under the income approach, is performed which includes judgements on the future cash-flows and growth of the Group. A judgement is then made as to the appropriate level of discount to be applied to the enterprise value for lack of marketability.

Estimations, which are based on management's best judgement at the reporting date, may differ from actual results. Any deviations between estimations and actual results will be updated in the period in which the circumstances change.

(t) Transfer Pricing: Group Profit Share

The Group operates a profit split method (PSM) under its global transfer pricing policy. Under the PSM, entities within the Group will end up either receiving fees or paying fees to the ultimate parent undertaking, and this will depend on a number of factors including, but not limited to, Group profitability and Company profitability (pre-PSM). If in any year the Company is in a fee receiving position from the ultimate parent undertaking this will be reflected within Turnover. In any year the Company is in a fee paying position this will be reflected in Administration expenses.

3. Turnover

The turnover for the year has been derived from:

Class of business	2023	2022
	$'000	$'000
Management and administration fees	238,312	245,666
Distribution fees	8,288	13,313
Performance fees	1,553	-
	248,153	258,979

Geographical information

Country by Country	2023	2022
	$'000	$'000
Ireland	243,152	256,557
Netherlands	2,850	485
Luxembourg	1,117	553
Germany	516	709
Italy	277	256
Denmark	241	419
	248,153	258,979

Assignment and transfer of receivables

The transactions represent the assignment and transfer of certain distribution related receivables to an affiliate. The underlying revenues associated with the assignment and transfer are recognised within Distribution fee income.

	2023	2022
	$'000	$'000
Assignment and transfer fee	2,060	3,877

4. Cost of Sales

Cost of sales are considered to comprise rebates payable on management fees of collective investment schemes plus sub-advisory fees paid to affiliates in respect of the day to day investment activity for assets under management.

	2023	2022
	$'000	$'000
Rebates payable	56,389	64,707
Sub-investment manager fees	1,596	2,390
	57,985	67,097

5. Information regarding employees

The average number of persons employed by the Company (including directors) during the year, analysed by category, was as follows:

	2023	2022
Investment Management	33	31
Other	56	56
	89	87

The aggregate payroll costs of these persons were as follows:

	2023	2022
	$'000	$'000
Wages and salaries	33,058	30,892
Social security costs	3,000	3,412
Contributions to defined contribution plans	1,825	1,866
Other employee costs	618	518
	38,501	36,688

During the year, the Company was charged, via Transfer Pricing, US$ 852,000 (2022: received US$ 1,993,000) from the Group in respect of its share-based payment scheme. The Company is allocated the initial cost of the shares allotted to the Company's employees, on a straight line basis, as well as any fair value adjustments to those shares over the course of the vesting period.

6. Directors' Remuneration

The figures below represent the portion of the directors' emoluments that are estimated to relate to their service to the Company:

	2023	2022
	$'000	$'000
Emoluments	834	922
Social Security	91	95
Defined Contribution Schemes	41	40
	966	1,057

No amounts were paid or receivable for directors' services provided to or from third parties (2022: No amounts paid).

The Company paid contributions to defined contributions pensions of US$ 41,000 (2022: US$ 40,000) in respect of 2 directors (2021: 2 directors).

All executive directors are deemed to be related parties of the Company.

7. Expenses and auditor's remuneration

Included in the Statement of Comprehensive Income are the following:

Administrative Expenses

	2023	2022
	$'000	$'000
Transfer Pricing Expense	122,547	122,967
Employee Costs	38,501	36,688
Advance Commission Expense	2,927	5,132
Depreciation of tangible fixed assets	487	251
Operating lease rentals - land and buildings	1,061	1,289
Auditor's Remuneration ^*	193	175
Other Administrative Expenses	17,526	16,957
	183,242	183,459
Other Income/ Expense
Other (Gain)/ Loss	(180)	1,354
	(180)	1,354

^* Auditor's Remuneration

	2023	2022
	$'000	$'000
Audit of these financial statements	179	164
Other Assurance Services	14	11
	193	175

The auditor's remuneration amounts exclude out of pocket expenses and VAT. There were no other tax or advisory, or other non-audit services provided to the Company by the auditor for the year ended 31 December 2023 (2022: No other services provided).

8. Taxation

Total tax expense recognised in the Statement of Comprehensive Income

The tax charge comprises:

	2023	2022
Current tax	$'000	$'000
Irish corporation tax	1,163	914
Double taxation relief	(697)	(812)
Foreign tax	3,990	2,497
Adjustment to tax charge in respect of prior period	581	-
Total current tax	5,037	2,599
Deferred tax	$'000	$'000
Original and reversal timing differences	(1,779)	(486)
Adjustments in respect of prior periods	(415)	1,175
Total deferred tax	(2,194)	689
Total tax on profit on ordinary activities	2,843	3,288

Factors affecting the tax charge for the current year

The differences between the total current tax shown above and the amount calculated by applying the standard rate of Irish corporation tax to the profit before tax are as follows:

	2023	2022
	$'000	$'000
Profit before taxation	8,640	7,194
Tax using the Irish corporation tax rate of 12.5%	1,080	899
Additional tax on non-trading income	174	-
Expenses not deductible	(91)	(55)
Higher tax rates on overseas earnings	1,122	2,444
Adjustments to tax charge in respect of prior period	581	-
Other timing differences	(23)	-
Total tax expense included in Statement of comprehensive income	2,843	3,288

Factors that may affect future current and total tax charges

The standard rate of Irish Corporation tax at the balance sheet date was 12.5% (12.5% in 2022)

In 2021, the Irish Government agreed to change the 12.5% tax rate for companies with global revenues in excess of €750 million and to adopt a new global minimum effective rate of 15%, due to be implemented starting 1st January 2024.

The assessment of the potential exposure to Pillar Two income taxes is based on the most recent tax filings, country-by-country reporting and financial statements for the Company. Based on the assessment, the Pillar Two effective tax rates in all of the jurisdictions in which the Company operates are above 15%. The Company at this time does not expect a material exposure to Pillar Two income taxes.

Tax estimates

Deferred tax assets and liabilities

Deferred tax assets and liabilities are attributable to the following:

As at 31 December 2023	Opening deferred tax (asset)/ liability	Adjustments in respect of prior periods	Original and reversal timing differences	Effect of changes in tax rates	Closing deferred tax (asset)/ liability
$'000
Share Based Payment Arrangements	1,733	-	(1,733)	-	-
Other Compensation related	-	(415)	(8)	-	(423)
Capital Allowance	(2)	2	(15)	-	(15)
Total	1,731	(413)	(1,756)	-	(438)

9. Tangible Fixed Assets

	Leasehold Improvements	Fixtures, fittings & equipment	IT & similar equipment	Works of Art	Total
	$'000	$'000	$'000	$'000	$'000
Cost
At 31 December 2022	2,036	879	93	-	3,008
Additions	42	13	-	-	55
Re-classification	-	(13)	-	13	-
At 31 December 2023	2,078	879	93	13	3,063
Depreciation
At 31 December 2022	(194)	(421)	(75)	-	(690)
Charge for the year	(317)	(163)	(7)	-	(487)
At 31 December 2023	(511)	(584)	(82)	-	(1,177)
Net book value at 31 December 2023	1,567	295	11	13	1,886

10. Debtors

	Note	31 December 2023	31 December 2022
		$'000	$'000
Amounts owed by Group		561	1,798
Trade debtors		23,990	21,628
Other debtors		328	3,160
Deferred tax asset	8	438	-
Prepayments and accrued income		821	371
		26,138	26,957
Due within one year		26,115	26,957
Due after more than one year		23	-
		26,138	26,957

The fair value of these receivables is equal to the carrying value.

11. Creditors: amounts falling due within one year

	31 December 2023	31 December 2022
	$'000	$'000
Amounts owed to Group undertakings	5,362	12,752
Other creditors	29,910	32,014
Taxation and payroll taxes	10,961	3,678
Contingent compensation	2,109	1,806
	48,342	50,250
Taxation and social insurance
Corporation tax	779	1,714
Payroll taxes	10,182	1,964
	10,961	3,678

All trade and other payables are due within one year and the fair value of these payables is equal to the carrying value.

Amounts owed to Group undertakings are unsecured, interest free, and are repayable on demand.

12. Creditors: amounts falling due after more than one year

	31 December 2023	31 December 2022
	$'000	$'000
Other Liabilities	62	60
Contingent Compensation	876	403
Deferred Tax Liability	-	1,733
	938	2,196

13. Operating Leases

Leases as lessee

Non-cancellable operating lease rentals are payable as follows:

	31 December 2023	31 December 2022
	$'000	$'000
Less than one year	1,002	1,049
Between one and five years	1,499	1,169
More than five years	50	-
	2,551	2,218

During the year ended 31 December 2023 US$ 1,061,000 (2022: US$ 1,289,000) was recognised as an expense in the profit and loss in respect of operating leases.

14. Called-up Share Capital and Reserves

	31 December 2023	31 December 2022
	$'000	$'000
Allotted, called up and issued
5,180,005 Ordinary shares of EUR 1 each	5,929	5,929

	31 December 2023	31 December 2022
	$'000	$'000
Opening Share Capital	5,929	5,929
Shares Issued	-	-
Closing Share Capital	5,929	5,929

The Company has authorised share capital of 50,000,000 ordinary shares of 1 Euro each.

An analysis of the movement in reserves can be seen on the Statement of Changes in Equity on page 15.

15. Related Parties

The Company is exempt under FRS102, section 33, from the related party disclosure requirements with regards to transactions with entities which are wholly owned group entities.

The Company acts as the management company for Neuberger Berman Investment Fund Plc, which comprises 53 sub-funds (2022: 54) as well as Neuberger Berman Investment Funds II Plc, which comprises 11 sub-funds (2022: 10). The amounts received in respect of management, supplementary adviser, administration, distribution and performance fees net of waivers and rebates were US$233,567,000 (2022: US$252,076,000). At the end of the year, the outstanding receivable was US$20,326,000 (2022: US$19,625,000).

The Company has determined that key management personnel comprises only the Board of Directors. All compensation paid to the Directors is included within the directors remuneration note 6.

16. Controlling party

The immediate parent company is Neuberger Berman Europe Limited, a company registered in England and Wales. The ultimate controlling party is NBSH Acquisition, LLC, a company incorporated in the United States of America.

The largest group in which the results of the Company are consolidated is that headed by NBSH Acquisition LLC, registered office address c/o Corporation Service Company, 251 Little Falls Drive, Wilmington DE 19808, United States. The smallest group in which they are consolidated is that headed by Neuberger Berman Europe Limited, The Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ. The consolidated financial statements of Neuberger Berman Europe Limited are available to the public.

17. Subsequent events

As at the date of approval of these annual financial statements, the Board of Directors are not aware of any other significant events affecting the Company since the end of the financial year.

18. Approval of Financial Statements

The board of directors approved the financial statements on 15 March 2024.

2d:T1d944,

Neuberger Berman Asset Management Ireland Limited German Branch

Frankfurt am Main

Jahresabschluss zum Geschäftsjahr vom 01.01.2022 bis zum 31.12.2022

Annual Report and Financial Statements for the year ended 31 December 2022

Registered Number: 629805

Contents

Page Contents

1 Directors and other information

2 Strategic report

5 Directors' report

9 Statement of directors' responsibilities in respect of the directors' report and the financial statements

10 Independent Auditor's Report to the member of Neuberger Berman Asset Management Ireland Limited

Financial Statements

13 Statement of Comprehensive Income

14 Statement of Financial Position

15 Statement of Changes in Equity

16 Notes to the Financial Statements

Directors and other information

Registered Office

MFD Secretaries Limited

32 Molesworth Street

Dublin 2

Ireland

Amended from 1 January 2023:

2 Central Plaza

Dame Street

Dublin 2

Ireland

D02 T0X4

Company Registration Number

629805

Directors

G Alexander	(independent)
M Brady	(non-independent)
M Green	(non-independent) - Resigned 15th February 2023
J C F Harvey	(non-independent)
D van Lomwel	(non-independent) - Resigned 12th July 2022
J O'Callaghan	(non-independent)
D Reidy	(independent) - Appointed 9th May 2022

Company Secretary

MFD Secretaries Limited 32 Molesworth Street

Dublin 2

Ireland

Banker

Citibank

1 North Wall Quay

Dublin 1

Ireland

Auditor

KPMG

1 Harbourmaster Place

IFSC

Dublin 1

Ireland

Legal Advisor

Maples and Calder LLP

75 St Stephens Green

Dublin 2

Ireland

Strategic report

The directors present their Strategic report for Neuberger Berman Asset Management Ireland Limited (the "Company") for the year ended 31 December 2022.

Results

The profit for the year, after taxation, amounted to US$ 3,906,450 (2021: US$ 10,823,311).

Principal activity and future outlook

The Company was incorporated on 5 July 2018 under registration number 629805 and was authorised as the Alternative Investment Fund Manager ("AIFM") on 28 February 2019 for Neuberger Berman Investment Funds II Plc ("NBIF II"), a Qualifying Investor Alternative Investment Fund ("QIAIF"), which is incorporated in Ireland and regulated by the CBI. The Company is also authorised with ancillary permissions to perform the following services ("IPM" business):

―	Individual portfolio management
―	Investment advice (to include distribution and marketing)
―	Reception and transmission of orders in relation to financial instruments

The Company received approval from the CBI in March 2021 to extend its regulatory permissions to include that of a UCITS Management Company under the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. No 352 of 2011), as amended. The Company became the UCITS Management Company of Neuberger Berman Investment Funds Plc ("NBIF") from 1 ^st July 2021. Across the remainder of 2021, the Company took on the responsibility of the distribution agreements which relate to NBIF investors. Additionally, the Company has a number of IPM accounts for which it provides investment management.

These will continue to be the principal activities of the Company for the foreseeable future.

Business review

The Company's primary source of income is from annual management fees received from NBIF, NBIF II and IPM fees.

The Company's key financial and other performance indicators during the year were as follows:

	2022	2021
	US$	US$
Turnover	258,979,348	176,138,735
Profit on ordinary activities before taxation	7,194,064	14,198,401
Profit after tax	3,906,450	10,823,311
Average number of employees	87	78

Principal risks and uncertainties

The Company adopts its own risk management framework, including risk management policies and procedures, consistent with the Group, taking into account its particular business profile. The principal risks of the Company are aligned with the principal risks of the Group, including investment performance, business concentration, market, key personnel, operational and IT, regulatory, and liquidity risks. The risks below relate specifically to the Company.

Investment performance

Market and business concentration

Outsourcing

Key personnel

Operational and IT

Regulatory change

The risk that a change in laws and regulations may impact the business either directly or indirectly by reducing investor's appetites for products, restricting the Company's ability to sell certain products or pursue specific investment strategies. The Company ensures that its activities are limited to those within its permissions and that its staff are sufficiently qualified, experienced and trained.

Liquidity

Environmental, Social, and Governance ("ESG")

Approved by the Board and signed on its behalf by:

9 March 2023

M Brady, Director

G Alexander, Director

Directors' report

The directors present their annual report and the financial statements, for the year ended 31 December 2022.

Directors

The directors, who held office during the year and up to the date of accounts approval, were as follows:

G Alexander
M Brady
M Green	- Resigned 15th February 2023
J C F Harvey
D van Lomwel	- Resigned 12th July 2022
J O'Callaghan
D Reidy	- Appointed 9th May 2022

The directors and company secretary do not have any disclosable interest in the issued share capital of the Group.

Directors' indemnities

The Company has made qualifying third party indemnity provisions for the benefit of its directors which were made during the year and remain in force at the date of this report.

Directors' remuneration is disclosed in Note 6 of the notes to the financial statements.

Political contributions

The Company made no political donations nor incurred any political expenditure in the year.

Dividends

The Board issued no interim dividend during the year and the Board recommend no final dividend for the year (2021: Final dividend of US$ 5,000,000, dividend per share of 0.96525, and no interim dividend).

Business review and principal activities

The business review and principal activities are included in the strategic report.

Future developments

Results for the year

The results for the Company are set out on page 13.

Accounting records

The directors believe that they have complied with the requirements of sections 281 to 285 of the Companies Act 2014 with regards to adequate accounting records by employing accounting personnel with appropriate expertise and by providing adequate resources to the financial function. The accounting records of the Company are maintained at the business office of Neuberger Berman Asset Management Ireland Limited, at 2 Central Plaza, Dame Street, Dublin 2, Ireland, D02 T0X4.

Audit Committee

The board of directors have considered the requirements of S167 of the Companies Act 2014. Given the nature of the NBAMIL operations, combined with the substance and level of complexity of turnover and expenses, an audit committee has not been established. The establishment of an audit committee will remain under review and re-assessed on an annual basis.

Branch operations

The Company has overseas branch operations as follows:

Name of branch	Country of operation
Milan Branch	Italy
Paris Branch	France
Hague Branch	Netherlands
Frankfurt Branch	Germany
Madrid Branch	Spain
Stockholm Branch	Sweden

Events during the reporting period

Since January 2022, the financial markets have experienced an increase in volatility, on the back of sustained inflation, rising interest rates and tightening liquidity conditions. These market conditions are contributing to additional volatility around investment performance, with the Company actively monitoring events and the associated impacts.

Russia's invasion of Ukraine, and corresponding events in late February 2022, have had, and could continue to have adverse effects on commodities and European economic activity. Whilst the Company's exposure to Russia-Ukraine is insignificant, the Company will continue to monitor any potential impact on the activities of the Company.

Events after the reporting period

As at the date of approval of these annual financial statements, the Board of Directors are not aware of any other significant events affecting the Company since the end of the financial year.

Going concern

No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

The company manages and monitors its capital and liquidity, and various stresses are applied to those positions to understand potential impacts from market downturns. Our key sensitivities and the impacts on our capital position from a range of stresses, do not give rise to any material uncertainties over the ability of the company to continue as a going concern.

Disclosure of information to auditor

Each of the directors, who held office at the date the directors' report is approved confirms that:

(a)	so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware; and
(b)	the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Auditor

Pursuant to section 383 (2) of the Companies Act 2014, the auditor, KPMG Chartered Accountants will continue in office.

Directors' compliance statement

―	a compliance policy statement has been drawn up setting out the Company's policies with regards to such compliance;
―	appropriate arrangements and structures that, in their opinion, are designed to secure material compliance with the Company's relevant obligations, have been put in place; and
―	a review has been conducted during 2022, of the arrangements and structures that have been put in place to secure the Company's compliance with its relevant obligations.

Corporate Governance Code

The Board has adopted appropriate corporate governance practices and procedures and is satisfied that it has complied with those provisions during the year ended 31 December 2022.

By order of the Board:

9 March 2023

M Brady, Director

G Alexander, Director

Statement of directors' responsibilities in respect of the directors' report and the financial statements

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations.

•	select suitable accounting policies and then apply them consistently;
•	make judgements and estimates that are reasonable and prudent;
•	state whether applicable Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
•	assess the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
•	use the going concern basis of accounting unless they either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Legislation in the Republic of Ireland governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board

9 March 2023

M Brady, Director

G Alexander, Director

INDEPENDENT INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF Neuberger Berman Asset Management Ireland Limited

Report on the audit of the financial statements

Opinion

We have audited the financial statements of Neuberger Berman Asset Management Ireland Limited ('the Company') for the year ended December 31, 2022 set out on pages 13 to 28, which comprise the Statement of Comprehensive Income, Statement of Financial Position and Statement of Changes in Equity and related notes, including the summary of significant accounting policies set out in note 2.

In our opinion:

•	the financial statements give a true and fair view of the assets, liabilities and financial position of the Company as at December 31,2022 and of its profit for the year then ended;
•	the financial statements have been properly prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland; and
•	the financial statements have been properly prepared in accordance with the requirements of the Companies Act 2014.

Basis for opinion

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information presented in the Annual Report together with the financial statements. The other information comprises the information included in the directors' report .directors and other information and strategic report. The financial statements and our auditor's report thereon do not comprise part of the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except as explicitly stated below, any form of assurance conclusion thereon.

Based solely on our work on the other information undertaken during the course of the audit, we report that:

•	we have not identified material misstatements in the directors' report;
•	in our opinion, the information given in the directors' report is consistent with the financial statements; and
•	in our opinion, the directors' report has been prepared in accordance with the Companies Act 2014.

Our opinions on other matters prescribed by the Companies Act 2014 are unmodified

We have obtained all the information and explanations which we consider necessary for the purposes of our audit.

Matters on which we are required to report by exception

Respective responsibilities and restrictions on use

Responsibilities of directors for the financial statements

Auditor's responsibilities for the audit of the financial statements

A fuller description of our responsibilities is provided on IAASA's website at https://iaasa.ie/publications/description-of-the-auditors-responsibilities-for-the-audit-of-the-financialstatements/.

The purpose of our audit work and to whom we owe our responsibilities

10 March 2023

James Casey

for and on behalf of KPMG Chartered Accountants, Statutory Audit Firm 1 Harbourmaster Place, IFSC Dublin 1

Statement of Comprehensive Income For the year ended 31 December 2022

		2022	2021
		US$	US$
	Notes
Turnover	3	258,979,348	176,138,735
Cost of sales	4	(67,097,176)	(47,952,604)
Gross profit		191,882,172	128,186,131
Administrative expenses	7	(183,459,064)	(112,874,424)
Operating profit		8,423,108	15,311,707
Other income / (expense)		(1,229,044)	(1,113,306)
Profit on ordinary activities before taxation		7,194,064	14,198,401
Tax on profit on ordinary activities	8	(3,287,614)	(3,375,090)
Total Comprehensive Income		3,906,450	10,823,311

All items dealt with in arriving at the results for the year ended 31 December 2022 relate to continuing operations. The Company has no items of other comprehensive income arising and therefore the total comprehensive income equals the profit for the year.

The notes on pages 16 to 28 form an integral part of these financial statements.

Statement of Financial Position As at 31 December 2022

		31 December 2022	31 December 2021
		US$	US$
	Notes
Fixed Assets
Tangible assets	9	2,318,300	870,988
Current assets
Cash and cash equivalents		48,655,861	55,802,497
Debtors	10	26,957,728	38,057,763
		75,613,589	93,860,260
Creditors: Amounts falling due within one year	11	(50,250,153)	(68,085,860)
Net current assets		25,363,436	25,774,400
Total assets less current liabilities		27,681,736	26,645,388
Creditors: Amounts falling due after more than one year	12	(2,196,282)	(66,384)
Total assets less liabilities		25,485,454	26,579,004
Capital and reserves
Called-up share capital	14	5,929,036	5,929,036
Share premium account		4,007,994	4,007,994
Profit and loss account		15,548,424	16,641,974
Total shareholder's funds		25,485,454	26,579,004

The notes on pages 16 to 28 form an integral part of these financial statements.

On behalf of the board:

Mary Brady

Janinne Alexander

M Brady, Director

G Alexander, Director

Statement of Changes in Equity For the year ended 31 December 2022

	Called up Share Capital	Share Premium Account	Profit and Loss Account	Total Equity
	US$	US$	US$	US$
Balance at 31 December 2020	5,929,036	4,007,994	5,818,663	15,755,693
Dividend Paid
Profit and total comprehensive income for the year			10,823,311	10,823,311
Balance at 31 December 2021	5,929,036	4,007,994	16,641,974	26,579,004
Dividend Paid			(5,000,000)	(5,000,000)
Profit and total comprehensive income for the year			3,906,450	3,906,450
Balance at 31 December 2022	5,929,036	4,007,994	15,548,424	25,485,454

The notes on pages 16 to 28 form an integral part of these financial statements.

Notes to the financial statements for the year ended 31 December 2022

1. General Information

Neuberger Berman Asset Management Ireland Limited (the Company) is a limited liability company incorporated on 5 July 2018 in Ireland under registration number 629805. The Company received authorisation on 28 February 2019 from the CBI as an Alternative Investment Fund Manager under the European Union (Alternative Investment Fund Managers) Regulations 2013, as amended.

2. Significant Accounting policies

(a) Basis of Preparation of Financial Statements

These financial statements were prepared in accordance with Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102"), and with the Companies Act 2014. These financial statements have been prepared in accordance with applicable accounting standards and prepared on the going concern basis under the historical cost convention, as modified by the recognition of certain financial assets and liabilities measured at fair value. The functional and presentational currency of the Company is United States Dollar (USD). The accounting policies set out below have, unless otherwise stated, been applied consistently to all years presented in these financial statements.

The Company has relied upon the exemption under FRS 102 from the requirement of Section 300, Companies Act 2014 to file consolidated Financial Statements as its parent Company, Neuberger Berman Europe Limited is a wholly-owned subsidiary of NBEH Limited, whose consolidated group accounts are publicly available.

(b) Going Concern

(c) Foreign Currencies

(d) Management and distribution fees

Turnover is stated net of VAT. Management and distribution fees are recognised on an accruals basis and recorded when earned. Generally, funds and institutional clients are billed monthly or quarterly based on the net asset value. Performance fees are recognised once crystallised.

(e) Principal versus agent

Revenue received from Principal-Agent relationships is shown on a net basis, as the Company receives a fee which is received in exchange for arranging a service, or performing an obligation. The Company, as Agent retains no additional reward, risk or liability.

(f) Rebates

Rebates to third parties are recognised under Cost of Sales in the Income Statement, separate from the management fees which are recorded as revenue. Rebates are recognised on an accruals basis and recorded when the management fees are earned. Generally rebates are accrued monthly and paid on a quarterly basis in arrears.

(g) Contingent deferred sales charge (CDSC)

The Company is entitled to receive a CDSC fee should an investor redeem their shares during the prescribed time period. CDSC fees are recognised when an investor redeems within distribution fee revenue.

(h) Assignment and transfer of receivables

The Company assigns and transfers certain receivables to an affiliate and third party.

(i) Pension Costs

The Company also contributes to a number of defined contribution pension schemes on behalf of its non-Ireland employees. All such amounts are charged to the Income statement when they become payable.

(j) Share based payment scheme

The Group operates a share based payment scheme for key individuals, which is cash-settled. Charges for the scheme are allocated to the Company initially on a straight-line basis with any fair value adjustments to those units over the vesting period recognised in the Income Statement. The units are subsequently revalued at fair value at the reporting date. Where an observable market price is available the units are re-measured to fair value using the observable market prices. For the Group units where there is no observable market price, a third-party valuation is obtained.

(k) Contingent compensation plan

Vesting is conditional on continued employment, the absence of which results in forfeiture of outstanding contingent compensation. An acceleration trigger occurs where an employee is expected to reach retirement age of either 15 years of service by the age of 45 or 10 years of service by the age of 50, on grant of an award the future costs of their share based compensation are accelerated over the remaining time until the trigger date.

(I) Taxation

Current Tax

The tax expense for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income.

Deferred Tax

Deferred income tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

(m) Cash and Cash Equivalents

Cash and cash equivalents comprise cash balances and money market funds, which are redeemable the next business day.

(n) Trade and other debtors/creditors

(o) Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Leasehold Improvements	Life of the relevant lease
Fixtures and Fittings	5 years
IT & Similar Equipment	3 years

The carrying value of tangible fixed assets is reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

(p) Expenses

Expenses are recognised in the Profit and Loss Account as incurred and are accounted for on an accruals basis. Payments (excluding costs for services and insurance) made under operating leases are recognised in the profit and loss account on a straight-line basis over the term of the lease. Lease incentives received are recognised in the profit and loss account as an integral part of the total lease expense.

(q) Other income / other expenses

Other income primarily relates to the effects of changes in foreign currencies.

(r) Judgements and key sources of estimation

Management estimation is required to determine the amounts of deferred tax assets/liabilities that should be recognised, based upon likely timing and level of future taxable profits.

(s) Transfer Pricing: Group Profit Share

The Group operates a profit split method (PSM) under its global transfer pricing policy. Under the PSM, entities within the Group will end up either receiving fees or paying fees to the ultimate parent undertaking, this will depend on a number of factors including, but not limited to, Group profitability and Company profitability (pre-PSM). If in any year the Company is in a fee receiving position from the ultimate parent undertaking this will be reflected within Turnover. In any year the Company is in a fee paying position this will be reflected in Administration Expenses.

3. Turnover

The turnover for the year has been derived from:

Class of business	2022	2021
	US$	US$
Management and related fees	245,665,773	159,666,585
Distribution fees	13,313,575	16,278,186
Revenue from Group		193,964
	258,979,348	176,138,735

Geographical information

Country by Country

Country by Country	2022	2021
	US$	US$
Ireland	256,556,721	172,238,370
Netherlands	485,020	2,223,936
Germany	709,519	785,757
Denmark	418,798	378,105
Italy	256,199	288,266
Luxembourg	553,091	193,964
France		30,337
	258,979,348	176,138,735

Assignment and transfer of receivables

The transactions represent the assignment and transfer:

	2022	2021
	US$	US$
Assignment and transfer fee	3,877,060	8,633,704

4. Cost of Sales

	2022	2021
	US$	US$
Rebates payable	64,707,227	46,079,857
Sub-investment manager fees	2,389,949	1,872,747
	67,097,176	47,952,604

5. Information regarding employees

The average number of persons employed by the Company (including directors) during the year, analysed by category, was as follows:

	2022	2021
Investment Management	31	16
Other	56	62
	87	78

There has been an amendment in the methodology to more accurately reflect the classification of Investment Management employees in the 2022 categorisation.

The aggregate payroll costs of these persons were as follows:

	2022	2021
	US$	US$
Wages and salaries	30,892,098	52,381,084
Social security costs	3,411,786	2,346,557
Contributions to defined contribution plans	1,866,418	1,499,888
Other employee costs	517,885	971,488
	36,688,187	57,199,017

During the year, the Company received US$ 1,993,274 (2021: charged US$ 15,471,147) from the Group in respect of its share-based payment scheme. The Company is allocated the initial cost of the shares allotted to the Company's employees, on a straight line basis, as well as any fair value adjustments to those shares over the course of the vesting period.

6. Directors' Remuneration

The figures below represent the portion of the directors' emoluments that are estimated to relate to their service to the Company:

	2022	2021
	US$	US$
Emoluments	922,004	887,181
Social Security	94,690	89,045
Defined Contribution Schemes	40,534	37,155
	1,057,228	1,013,381

No amounts were paid or receivable for directors' services provided to or from third parties (2021: No amounts paid).

The Company paid contributions to defined contributions pensions of US$ 40,534 (2021: US$ 37,155) in respect of 2 directors (2021: 2 directors).

All executive directors are deemed to be related parties of the Company.

7. Expenses and auditor's remuneration

Included in the Statement of Comprehensive Income are the following:

Administrative Expenses

	2022	2021
	US$	US$
Transfer Pricing Expense	122,966,635	33,668,638
Employee Costs	36,688,187	57,199,017
Advance Commission Expense	5,131,968	11,427,580
Depreciation of tangible fixed assets	250,658	164,578
Operating lease rentals - land and buildings	1,289,475	1,056,627
Auditor's Remuneration ^*	174,831	172,707
Other Administrative Expenses	16,957,310	9,185,277
	183,459,064	112,874,424
Other Income/ Expense
Other (Gain)/ Loss	1,229,044	1,113,306
	1,229,044	1,113,306

^* Auditor's Remuneration

	2022	2021
	US$	US$
Audit of these financial statements	163,775	143,775
Other Assurance Services	11,056	28,932
	174,831	172,707

8. Taxation

Total tax expense recognised in the Statement of Comprehensive Income

The tax charge comprises:

	2022	2021
Current tax	US$	US$
Irish corporation tax	913,788	1,685,852
Double taxation relief	(811,519)	(1,597,557)
Foreign tax	2,496,716	3,300,847
Total current tax	2,598,985	3,389,142

Deferred tax	US$	US$
Original and reversal timing differences	(485,833)	(14,052)
Adjustments in respect of prior periods	1,174,462
Total deferred tax	688,629	(14,052)
Total tax on profit on ordinary activities	3,287,614	3,375,090

Factors affecting the tax charge for the current year

The differences between the total current tax shown above and the amount calculated by applying the standard rate of Irish corporation tax to the profit before tax are as follows

	2022	2021
	US$	US$
Profit before taxation	7,194,064	14,198,401
Tax using the Irish corporation tax rate of 12.5%	899,258	1,774,800
Expenses not deductible	(54,904)	(29,032)
Higher tax rates on overseas earnings	2,443,260	1,629,322
Total tax expense included in Statement of comprehensive income	3,287,614	3,375,090

Factors that may affect future current and total tax charges

The standard rate of Irish Corporation tax at the balance sheet date was 12.5% (12.5% in 2021)

Deferred tax assets and liabilities

Deferred tax assets and liabilities are attributable to the following:

	Opening deferred tax (asset)/ liability	Adjustments in respect of prior periods	Original and reversal timing differences	Effect of changes in tax rates	Closing deferred tax (asset)/ liability
Share Based Payment Arrangements	(14,052)	2,231,600	(485,833)		1,731,715
Total	(14,052)	2,231,600	(485,833)		1,731,715

9. Tangible Fixed Assets

	Leasehold Improvements	Fixtures, fittings & equipment	IT & similar equipment	Total
	US$	US$	US$	US$
Cost
At 31 December 2021	591,461	648,342	70,633	1,310,436
Additions	1,444,789	230,334	22,847	1,697,970
At 31 December 2022	2,036,250	878,676	93,480	3,008,406
Depreciation
At 31 December 2021	(121,415)	(248,590)	(69,443)	(439,448)
Charge for the year	(73,070)	(172,394)	(5,194)	(250,658)
At 31 December 2022	(194,485)	(420,984)	(74,637)	(690,106)
Net book value at 31 December 2022	1,841,765	457,692	18,843	2,318,300

10. Debtors

	31 December 2022	31 December 2021
	US$	US$
Amounts owed by Group undertakings	1,798,524	6,958,959
Trade debtors	21,627,650	30,345,046
Other debtors	3,160,180	436,892
Prepayments and accrued income	371,374	316.866
	26,957,728	38,057,763
Due within one year	26,957,728	38,057,763
	26,957,728	38,057,763

The fair value of these receivables is equal to the carrying value.

11. Creditors: amounts falling due within one year

	31 December 2022	31 December 2021
	US$	US$
Amounts owed to Group undertakings	12,751,863	31,564,126
Other creditors	32,014,034	28,946,359
Taxation and payroll taxes	3,677,776	5,152,158
Contingent compensation	1,806,480	2,423,217
	50,250,153	68,085,860
Taxation and social insurance
Corporation tax	1,714,223	3,399,266
Payroll taxes	1,963,553	1,752,892
	3,677,776	5,152,158

All trade and other payables are due within one year and the fair value of these payables is equal to the carrying value.

Amounts owed to Group undertakings are unsecured, interest free, and are repayable on demand.

12. Creditors: amounts falling due after more than one year

	31 December 2022	31 December 2021
	US$	US$
Other Liabilities	60,298
Contingent Compensation	402,702	66,384
Deferred Tax Liability	1,733,282
	2,196,282	66,384

13. Operating Leases

Leases as lessee

Non-cancellable operating lease rentals are payable as follows:

	31 December 2022	31 December 2021
	US$	US$
Less than one year	1,049,121	866,065
Between one and five years	1,168,972	643,762
More than five years
	2,218,093	1,509,827

During the year ended 31 December 2022 US$ 1,289,475 (2021: US$ 1,056,627) was recognised as an expense in the profit and loss in respect of operating leases.

14. Called-up Share Capital and Reserves

	31 December 2022	31 December 2021
	US$	US$
Allotted, called up and issued
5,180,005 Ordinary shares of EUR 1 each	5,929,036	5,929,036

	31 December 2022	31 December 2021
	US$	US$
Opening Share	5,929,036	5,929,036
Shares Issued
Closing Share Capital	5,929,036	5,929,036

The Company has authorised share capital of 50,000,000 ordinary shares of 1 Euro each.

An analysis of the movement in reserves can be seen on the Statement of Changes in Equity on page 15.

15. Related Parties

The Company is exempt under FRS102, section 33, from the related party disclosure requirements with regards to transactions with entities which are wholly owned group entities.

The Company acts as the management company for Neuberger Berman Investment Fund Plc, which comprises 54 sub-funds (2021: 49) as well as Neuberger Berman Investment Funds II Plc, which comprises 10 sub-funds (2021: 9). The amounts received in respect of management, administration, distribution and performance fees were US$252.1 m (2021: US$168.8m). At the end of the year, the outstanding receivable was US$19.6m (2021: US$27.5m).

The Company has determined that key management personnel comprises only the Board of Directors. All compensation paid to the Directors is included within the directors remuneration note 6.

16. Controlling party

The largest group in which the results of the Company are consolidated is that headed by NBSH Acquisition, LLC, 2711 Centerville Road Suite 400, Wilmington, DE 19808, United States. The smallest group in which they are consolidated is that headed by NBEH Limited, The Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ. The consolidated financial statements of NBEH Limited are available to the public.

17. Subsequent events

As at the date of approval of these annual financial statements, the Board of Directors are not aware of any other significant events affecting the Company since the end of the financial year.

18. Approval of Financial Statements

The board of directors approved the financial statements on 9 March 2023.

2e:T1cbea,

Neuberger Berman Asset Management Ireland Limited German Branch

Frankfurt am Main

Jahresabschluss zum Geschäftsjahr vom 01.01.2021 bis zum 31.12.2021

Annual Report and Financial Statements for the year ended 31 December 2021

Registered Number: 629805

Contents

Directors and other information

Strategic report

Directors' report

Statement of directors' responsibilities in respect of the directors' report and the financial statements

Independent Auditor's Report to the member of Neuberger Berman Asset Management Ireland Limited

Statement of Comprehensive Income

Statement of Financial Position

Statement of Changes in Equity

Notes to the Financial Statements

Directors and other information

Registered Office

	MFD Secretaries Limited
	32 Molesworth Street
	Dublin 2
	Ireland

Company Registration Number

629805

Directors

G Alexander	(independent)
M Brady	(non-independent)
M Green	(non-independent)
J C F Harvey	(non-independent)
D van Lomwel	(non-independent)
J O'Callaghan	(non-independent)

Company Secretary

	MFD Secretaries Limited
	32 Molesworth Street
	Dublin 2
	Ireland

Banker

	Citibank
	1 North Wall Quay
	Dublin 1
	Ireland

Auditor

	KPMG
	1 Harbourmaster Place
	IFSC
	Dublin 1
	Ireland

Legal Advisor

	Maples and Calder LLP
	75 St Stephens Green
	Dublin 2
	Ireland

Strategic report

The directors present their Strategic report for Neuberger Berman Asset Management Ireland Limited (the "Company") for the year ended 31 December 2021.

Results

The profit for the year, after taxation, amounted to US$ 10,823,311 (2020: US$ 5,818,663).

Principal activity and future outlook

The Company was incorporated on 5 July 2018 under registration number 629805 and was authorised as the Alternative Investment Fund Manager ("AIFM") on 28 February 2019 for Neuberger Berman Investment Funds II Plc ("NBIF II"), a Qualifying Investor Alternative Investment Fund ("QIAIF"), which is incorporated in Ireland and regulated by the CBI. The Company is also authorised with ancillary permissions to perform the following services ("IPM" business):

―	Individual portfolio management
―	Investment advice (to include distribution and marketing)
―	Reception and transmission of orders in relation to financial instruments

The Company received approval from the CBI in March 2021 to extend its regulatory permissions to include that of a UCITS Management Company under the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. No 352 of 2011), as amended. The Company became the UCITS Management Company of Neuberger Berman Investment Funds Plc ("NBIF") from 1 ^st July 2021. Across the remainder of 2021, the Company took on the responsibility of the distribution agreements which relate to NBIF investors. Additionally, the Company has a number of IPM accounts for which it provides investment management.

These will continue to be the principal activities of the Company for the foreseeable future.

Business review

The Company's primary source of income is from annual management fees received from NBIF, NBIF II and IPM fees.

The Company's key financial and other performance indicators during the year were as follows:

	2021	2020
	US$	US$
Turnover	176,138,735	56,506,389
Profit on ordinary activities before taxation	14,198,401	10,587,346
Profit after tax	10,823,311	5,818,663
Average number of employees	78	64

Principal risks and uncertainties

Investment performance

Market and business concentration

Key personnel

There are a number of key individuals employed by the Company who perform "global" investment roles in the Group. In the event of a key individual / team leaving, there is adequate cover at our affiliated companies to continue to manage the relevant mandate until a decision can be made in relation to a replacement. The Company considers that the Board has sufficient experience in depth to cover any departures and that the appointed directors have sufficient experience and expertise for the roles required of them.

Several key individuals are equity holders of the ultimate parent company. The Company has implemented a retention policy to retain a number of key individuals via a deferred compensation scheme.

Operational and IT

Regulatory change

Liquidity

Environmental, Social, and Governance ("ESG")

The risk of non-compliance with ESG regulations is mitigated by the Company reviewing its ESG requirements under Level 1 requirements of the Regulation (EU) 2019/2088 and Regulation EU/2020/852 and ensuring there are suitable frameworks, methodology and experienced staff in place to ensure compliance with the SDFR and Taxonomy Regulatory Technical Standards.

Approved by the Board and signed on its behalf by:

11 March 2022

Mary Brady, Director

Grainne Alexander, Director

Directors' report

The directors present their annual report and the financial statements, for the year ended 31 December 2021.

Directors

The directors, who held office during the year and up to the date of accounts approval, were as follows:

	G Alexander
	M Brady
	M Green
	J C F Harvey
	D van Lomwel
	J O'Callaghan

The directors and company secretary do not have any disclosable interest in the issued share capital of the Group.

Directors' indemnities

The Company has made qualifying third party indemnity provisions for the benefit of its directors which were made during the year and remain in force at the date of this report.

Directors' remuneration is disclosed in Note 6 of the notes to the financial statements.

Political contributions

The Company made no political donations nor incurred any political expenditure in the year.

Dividends

The Board issued no interim dividend during the year and the Board recommend a final dividend for the year of US$ 5,000,000 Dividend per share of 0.96525 (2020: Interim Dividend of US$ 1,624,213, Dividend per share of 0.3135543, and no final Dividend).

Business review and principal activities

The business review and principal activities are included in the strategic report.

Future developments

Results for the year

The results for the Company are set out on page 13.

Accounting records

Audit Committee

The Board have considered the requirements of S167 of the Companies Act 2014. Given the nature of the NBAMIL operations, combined with the substance and level of complexity of turnover and expenses, an audit committee has not been established. The establishment of an audit committee will remain under review and re-assessed on an annual basis.

Branch operations

The Company has overseas branch operations as follows:

Name of branch	Country of operation
Milan Branch	Italy
Paris Branch	France
Hague Branch	Netherlands
Frankfurt Branch	Germany
Madrid Branch	Spain
Stockholm Branch	Sweden

Events during the reporting period

Since the start of January 2020, the emergence of the novel coronavirus (2019-nCoV) has resulted in widespread restrictions across the globe on the ability of people to travel, socialise and leave their homes. During the year, the Company has been operating work from home and return to office strategies in line with government guidelines with no adverse impact on the company.

Events after the reporting period

The recent events in Ukraine and Russia continue to have an impact on the European economic activity. Whilst there is very little exposure to these very recent events, Management will continue to monitor any potential impact on the activities of the Company.

As at the date of approval of these annual financial statements, the Board of Directors are not aware of any other significant events affecting the Company since the end of the financial year.

Going concern

No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

The directors have made an assessment of the company's ability to continue as a going concern, considering both the company's current performance and the company's outlook, which takes account of the current and expected future impact of the Covid-19 pandemic, using the information available up to the date of issue of these financial statements.

The company manages and monitors its capital and liquidity, and various stresses are applied to those positions to understand potential impacts from market downturns. Our key sensitivities and the impacts on our capital position from a range of stresses, including the additional considerations and stresses applied in response to Covid-19, do not give rise to any material uncertainties over the ability of the company to continue as a going concern.

Disclosure of information to auditor

Each of the directors, who held office at the date the directors' report is approved confirms that:

(a)	so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware; and
(b)	the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Auditor

Pursuant to section 383 (2) of the Companies Act 2014, the auditor, KPMG Chartered Accountants will continue in office.

Directors' compliance statement

―	a compliance policy statement has been drawn up setting out the Company's policies with regards to such compliance;
―	appropriate arrangements and structures that, in their opinion, are designed to secure material compliance with the Company's relevant obligations, have been put in place; and
―	a review has been conducted during 2021, of the arrangements and structures that have been put in place to secure the Company's compliance with its relevant obligations.

Corporate Governance Code

The Board has adopted appropriate corporate governance practices and procedures and is satisfied that it has complied with those provisions during the year ended 31 December 2021.

By order of the Board:

11 March 2022

Mary Brady, Director

Grainne Alexander, Director

Statement of directors' responsibilities in respect of the directors' report and the financial statements

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations.

•	select suitable accounting policies and then apply them consistently;
•	make judgements and estimates that are reasonable and prudent;
•	state whether applicable Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
•	assess the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
•	use the going concern basis of accounting unless they either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the Republic of Ireland governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board

11 March 2022

Mary Brady, Director

Grainne Alexander, Director

Independent Auditor's Report to the member of Neuberger Berman Asset Management Ireland Limited

Report on the audit of the financial statements

Opinion

We have audited the financial statements of Neuberger Berman Asset Management Ireland Limited ('the Company') for the year ended 31 December 2021, which comprise the Statement of Comprehensive Income, Statement of Financial Position and Statement of Changes in Equity and related notes, including the summary of significant accounting policies set out in note 2.The financial reporting framework that has been applied in their preparation is Irish Law and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland issued in the United Kingdom by the Financial Reporting Council.

In our opinion, the accompanying financial statements:

•	give a true and fair view of the assets, liabilities and financial position of the Company as at 31 December 2021 and of its profit for the year then ended;
•	have been properly prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland; and
•	have been properly prepared in accordance with the requirements of the Companies Act 2014.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (Ireland) (ISAs (Ireland)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with ethical requirements that are relevant to our audit of financial statements in Ireland, including the Ethical Standard issued by the Irish Auditing and Accounting Supervisory Authority (IAASA), and we have fulfilled our other ethical responsibilities in accordance with these requirements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information presented in the Annual Report together with the financial statements. The other information comprises the information included in the directors and other information, strategic report, and directors' report. The financial statements and our auditor's report thereon do not comprise part of the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except as explicitly stated below, any form of assurance conclusion thereon.

Based solely on our work on the other information undertaken during the course of the audit, we report that:

•	we have not identified material misstatements in the directors' report;
•	in our opinion, the information given in the directors' report is consistent with the financial statements;
•	in our opinion, the directors' report has been prepared in accordance with the Companies Act 2014.

Opinions on other matters prescribed by the Companies Act 2014

We have obtained all the information and explanations which we consider necessary for the purposes of our audit.

Matters on which we are required to report by exception

Respective responsibilities and restrictions on use

Responsibilities of directors for the financial statements

Auditor's responsibilities for the audit of the financial statements

https://www.iaasa.ie/getmedia/b2389013-1 cf6-458b-9b8f-a98202dc9c3a/Description of auditors responsiblities for audit.pdf.

The purpose of our audit work and to whom we owe our responsibilities

Our report is made solely to the Company's member, as a body, in accordance with Section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the Company's member those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

11 March 2022

Darina Barrett

for and on behalf of

KPMG Chartered Accountants, Statutory Audit Firm

1 Harbourmaster Place

IFSC

Dublin D01 F6F5

Ireland

Statement of Comprehensive Income For the year ended 31 December 2021

		2021	2020
	Notes	US$	US$
Turnover	3	176,138,735	56,506,389
Cost of sales	4	(47,952,604)	(1,288,891)
Gross profit		128,186,131	55,217,498
Administrative expenses	7	(112,874,424)	(45,638,587)
Operating profit		15,311,707	9,578,911
Other income / (expense)		(1,113,306)	1,008,435
Profit on ordinary activities before taxation		14,198,401	10,587,346
Tax on profit on ordinary activities	8	(3,375,090)	(4,768,683)
Total Comprehensive Income		10,823,311	5,818,663

All items dealt with in arriving at the results for the year ended 31 December 2021 relate to continuing operations. The Company has no items of other comprehensive income arising and therefore the total comprehensive income equals the profit for the year.

The notes on pages 16 to 28 form an integral part of these financial statements.

Statement of Financial Position As at 31 December 2021

		31 December 2021	31 December 2020
	Notes	US$	US$
Fixed Assets
Tangible assets	9	870,988	528,263
Current assets
Cash and cash equivalents		55,802,497	32,158,887
Debtors	10	38,057,763	6,983,725
		93,860,260	39,142,612
Creditors: Amounts falling due within one year	11	(68,085,860)	(23,915,182)
Net current assets		25,774,400	15,227,430
Total assets less current liabilities		26,645,388	15,755,693
Creditors: Amounts falling due after more than one year	12	(66,384)	-
Total assets less liabilities		26,579,004	15,755,693
Capital and reserves
Called-up share capital	14	5,929,036	5,929,036
Share premium account		4,007,994	4,007,994
Profit and loss account		16,641,974	5,818,663
Total shareholder's funds		26,579,004	15,755,693

The notes on pages 16 to 28 form an integral part of these financial statements.

On behalf of the board:

Mary Brady, Director

Grainne Alexander, Director

Statement of Changes in Equity For the year ended 31 December 2021

	Called up Share Capital	Share Premium Account	Profit and Loss Account	Total Equity
	US$	US$	US$	US$
Balance at 31 December 2019	5,929,036	4,007,994	1,624,213	11,561,243
Dividend Paid	-	-	(1,624,213)	(1,624,213)
Profit and total comprehensive income for the year	-	-	5,818,663	5,818,663
Balance at 31 December 2020	5,929,036	4,007,994	5,818,663	15,755,693
Dividend Declared	-	-	-	-
Profit and total comprehensive income for the year	-	-	10,823,311	10,823,311
Balance at 31 December 2021	5,929,036	4,007,994	16,641,974	26,579,004

The notes on pages 16 to 28 form an integral part of these financial statements.

Notes to the financial statements for the year ended 31 December 2021

1. General information

2. Significant Accounting policies

(a) Basis of Preparation of Financial Statements

These financial statements were prepared in accordance with Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102"), and with the Companies Act 2014. These financial statements have been prepared in accordance with applicable accounting standards and prepared on the going concern basis under the historical cost convention, as modified by the recognition of certain financial assets and liabilities measured at fair value. The functional and presentational currency of the Company is United States Dollar (USD). The accounting policies set out below have, unless otherwise stated, been applied consistently to all years presented in these financial statements.

As a qualifying entity, the Company has taken advantage of the exemption in section 7 of FRS 102 from the requirement to prepare a Statement of Cash Flows. It has also taken advantage of the exemption from the requirement of section 33 paragraph 33.7 to disclose key management personnel compensation in total. The Company has also taken advantage of the exemption of not reporting related party transactions with wholly owned subsidiaries.

As the consolidated financial statements of the ultimate holding undertaking (refer to Note 15) include the equivalent disclosures, the Company has also taken the exemptions under FRS 102 available in respect of certain disclosures required by FRS 102.26 Share Based Payments.

(b) Going Concern

(c) Foreign Currencies

(d) Management and distribution fees

Turnover is stated net of VAT. Management and distribution fees are recognised on an accruals basis and recorded when earned. Generally, funds and institutional clients are billed monthly or quarterly based on the net asset value. Performance fees are recognised once crystallised.

(e) Rebates

Rebates to third parties of management fees earned from collective investment schemes are recognised as an expense under Cost of Sales in the Income Statement, separate from the management fees which are recorded as revenue. Rebates are recognised on an accruals basis and recorded when the management fees are earned. Generally rebates are accrued monthly and paid on a quarterly basis in arrears.

(f) Contingent deferred sales charge (CDSC)

The Company is entitled to receive a distribution fee from the investment fund over the life of such shares. Such distribution fees are calculated as a percentage of average managed assets associated with the related share classes. In addition the Company is also entitled to receive a CDSC fee should an investor redeem their shares during the prescribed time period, which is recognised when an investor redeems.

(g) Assignment and transfer of receivables

The Company assigns and transfers certain receivables to an affiliate and third party.

(h) Pension Costs

The Company also contributes to a number of defined contribution pension schemes on behalf of its non-Ireland employees. All such amounts are charged to the Income statement when they become payable.

(i) Share based payment scheme

The Group operates a share based payment scheme for key individuals, which is cash-settled. Charges for the scheme are allocated to the Company initially on a straight-line basis with any fair value adjustments to those units over the vesting period recognised in the Income Statement. The units are subsequently revalued at fair value at the reporting date. Where an observable market price is available the units are re-measured to fair value. The units for which there is no observable market price, an external valuation methodology is utilised.

(j) Contingent compensation plan

Vesting is conditional on continued employment, the absence of which results in forfeiture of outstanding contingent compensation. An acceleration trigger occurs where an employee is expected to reach retirement age of either 15 years of service by the age of 45 or 10 years of service by the age of 50, on grant of an award the future costs of their share based compensation are accelerated over the remaining time until the trigger date.

As such, subject to the acceleration provision above, no expense is recognised for the year of award in respect of contingent compensation, The deferred element is recognised on a straight line basis over the following three years. In the event that forfeiture occurs, any expense recognised less payments made on vesting, is unwound.

(k) Taxation

Current Tax

The tax expense for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income.

Deferred Tax

Deferred income tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Deferred income tax assets and liabilties are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred income taxes assets and liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities where there is an intention to settle the balances on a net basis.

(l) Cash and Cash Equivalents

Cash and cash equivalents comprise cash balances and money market funds, which are redeemable the next business day.

(m) Trade and other debtors/creditors

(n) Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Leasehold Improvements	Life of the relevant lease
Fixtures and Fittings	5 years
IT & Similar Equipment	3 years

The carrying value of tangible fixed assets is reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

(o) Expenses

(p) Other income / other expenses

Other income primarily relates to the effects of changes in foreign currencies.

(q) Judgements and key sources of estimation

Management estimation is required to determine the amounts of deferred tax assets/liabilities that should be recognised, based upon likely timing and level of future taxable profits.

(r) Transfer Pricing: Group Profit Share

The Group operates a profit split method (PSM) under its global transfer pricing policy. Under the PSM, entities within the Group will end up either receiving fees or paying fees to the ultimate parent undertaking, this will depend on a number of factors including, but not limited to. Group profitability and Company profitability (pre-PSM). If in any year the Company is in a fee receiving position from the ultimate parent undertaking this will be reflected within Turnover. In any year the Company is in a fee paying position this will be reflected in Administration Expenses.

3. Turnover

The turnover for the year has been derived from:

Class of business	2021	2020
	US$	US$
Management and related fees	159,666,585	9,316,918
Distribution fees	16,278.186	-
Transfer Pricing Profit Share ^*	-	47,189,471
Revenue from Group	193,964	-
	176,138,735	56,506,389

^* In 2020, the Company was in a net receiving position and in 2021, the Company was in a net paying position. As such, the 2021 Transfer Pricing expense is in note 7.

Geographical information

Country by Country	2021	2020
	US$	US$
Ireland	172,238,370	8,300,615
Netherlands	2,223,936	92,852
Germany	785,757	726,512
Denmark	378,105	-
Italy	288,266	-
Luxembourg	193,964	-
France	30,337	196,939
United States	-	47,189,471
	176,138,735	56,506,389

4. Cost of Sales

	2021	2020
	US$	US$
Rebates payable	46,079,857	1,288,891
Sub-investment manager fees	1,872,747	-
	47,952,604	1,288,891

5. Information regarding employees

The average number of persons employed by the Company (including directors) during the year, analysed by category, was as follows:

	2021	2020
Investment Management	16	14
Other	62	50
	78	64

The aggregate payroll costs of these persons were as follows:

	2021	2020
	US$	US$
Wages and salaries	52,381,084	34,781,526
Social security costs	2,346,557	2,157,559
Contributions to defined contribution plans	1,499,888	1,423,472
Other employee costs	971,488	607,767
	57,199,017	38,970,324

During the year, the Company was charged US$ 15,471,147 (2020: US$ 5,827,146) from the Group in respect of its share-based payment scheme. The Company is allocated the initial cost of the shares allotted to the Company's employees, on a straight line basis, as well as any fair value adjustments to those shares over the course of the vesting period.

6. Directors' Remuneration

The figures below represent the portion of the directors' emoluments that are estimated to relate to their service to the Company:

	2021	2020
	US$	US$
Emoluments	887,181	715,858
Social Security	89,045	77,732
Defined Contribution Schemes	37,155	35,999
	1,013,381	829,589

No amounts were paid or receivable for directors' services provided to or from third parties (2020: No amounts paid).

The Company paid contributions to defined contributions pensions of US$ 37,155 (2020: US$ 35,999) in respect of 2 directors (2020: 3 directors).

All executive directors are deemed to be related parties of the Company.

7. Expenses and auditor's remuneration

Included in the Statement of Comprehensive Income are the following:

Administrative Expenses

	2021	2020
	US$	US$
Transfer Pricing Expense	33,668,638	-
Employee Costs	57,199,017	38,970,324
Advance Commission Expense	11,427,580	-
Depreciation of tangible fixed assets	164,578	195,034
Operating lease rentals - land and buildings	1,056,627	877,698
Auditor's Remuneration ^*	172,707	108,050
Other Administrative Expenses	9,185,277	5,487,481
	112,874,424	45,638,587
Other Income/ Expense
Other (Gain)/ Loss	1,113,306	(1,008,435)
	1,113,306	(1,008,435)

* Auditor's Remuneration

	2021	2020
	US$	US$
Audit of these financial statements	143,775	108,050
Other Assurance Services	28,932	-
	172,707	108,050

8. Taxation

Total tax expense recognised in the Statement of Comprehensive Income

The tax charge comprises:

	2021	2020
Current Tax	US$	US$
Irish Corporation Tax	1,685,852	2,151,048
Double Taxation relief	(1,597,557)	(2,078,615)
Foreign Tax	3,286,795	4,696,250
Total current tax	3,375,090	4,768,683

Factors affecting the tax charge for the current year

The differences between the total current tax shown above and the amount calculated by applying the standard rate of Irish corporation tax to the profit before tax are as follows

	2021	2020
	US$	US$
Profit before taxation	14,198,401	10,587,346
Tax using the Irish corporation tax rate of 12.5%	1,774,800	1,323,418
Expenses not deductible	(29,032)	827,630
Higher tax rates on overseas earnings	1,629,322	2,617,635
Total tax expense included in Statement of comprehensive income	3,375,090	4,768,683

Factors that may affect future current and total tax charges

The standard rate of Irish Corporation tax at the balance sheet date was 12.5% (12.5% in 2020)

The Irish government have indicated a planned increase in the standard rate of Irish Corporation Tax rate to 15% from 1st January 2023.

9. Tangible Fixed Assets

	Leasehold Improvements	Fixtures, fittings & equipment	IT & similar equipment	Total
	US$	US$	US$	US$
Cost
At 31 December 2020	335,165	397,335	70,633	803,133
Additions	256,296	251,007	-	507,303
At 31 December 2021	591,461	648,342	70,633	1,310,436
Depreciation
At 31 December 2020	(80,954)	(144,289)	(49,627)	(274,870)
Charge for the year	(40,461)	(104,301)	(19,816)	(164,578)
At 31 December 2021	(121,415)	(248,590)	(69,443)	(439,448)
Net book value at 31 December 2021	470,046	399,752	1,190	870,988

10. Debtors

	31 December 2021	31 December 2020
	US$	US$
Amounts owed by Group undertakings	6,958,959	5,004,836
Trade debtors	30,345,046	1,474,397
Other debtors	436,892	136,466
Prepayments and accrued income	316,866	368,026
	38,057,763	6,983,725
Due within one year	38,057,763	6,983,725
	38,057,763	6,983,725

The fair value of these receivables is equal to the carrying value.

11. Creditors: amounts falling due within one year

	31 December 2021	31 December 2020
	US$	US$
Amounts owed to Group undertakings	31,564,126	15,914
Other creditors	28,946,359	14,565,625
Taxation and payroll taxes	5,152,158	7,488,049
Contingent compensation	2,423,217	1,845,594
	68,085,860	23,915,182
Taxation and social insurance
Corporation tax	3,399,266	5,122,310
Payroll taxes	1,752,892	2,365,739
	5,152,158	7,488,049

All trade and other payables are due within one year and the fair value of these payables is equal to the carrying value.

Amounts owed to Group undertakings are unsecured, interest free, and are repayable on demand.

12. Creditors: amounts falling due after more than one year

	31 December 2021	31 December 2020
	US$	US$
Contingent Compensation	66,384	-
	66,384	-

13. Operating Leases

Leases as lessee

Non-cancellable operating lease rentals are payable as follows:

	31 December 2021	31 December 2020
	US$	US$
Less than one year	866,065	392,751
Between one and five years	643,762	538,710
More than five years	-	-
	1,509,827	931,461

During the year ended 31 December 2021 US$ 1,056,627 (2020: US$ 877,698) was recognised as an expense in the profit and loss in respect of operating leases.

14. Called-up Share Capital and Reserves

	31 December 2021	31 December 2020
	US$	US$
Allotted, called up and issued
5,180,005 Ordinary shares of EUR 1 each	5,929,036	5,929,036

	31 December 2021	31 December 2020
	US$	US$
Opening Share	5,929,036	5,929,036
Shares Issued	-	-
Closing Share Capital	5,929,036	5,929,036

The Company has authorised share capital of 50,000,000 ordinary shares of 1 Euro each.

An analysis of the movement in reserves can be seen on the Statement of Changes in Equity on page 15.

15. Controlling party

16. Subsequent events

As at the date of approval of these annual financial statements, the Board of Directors are not aware of any other significant events affecting the Company since the end of the financial year.

17. Approval of Financial Statements

The board of directors approved the financial statements on 11 March 2022.

2f:T1a4cb,

Neuberger Berman Asset Management Ireland Limited German Branch

Frankfurt am Main

Jahresabschluss zum Geschäftsjahr vom 01.01.2020 bis zum 31.12.2020

Annual Report and Financial Statements for the year ended 31 December 2020

Registered Number: 629805

Contents

Directors and other information

Strategic Report

Directors' Report

Statement of directors' responsibilities in respect of the directors' report and the financial statements

Independent Auditor's Report to the members of Neuberger Berman Asset Management Ireland Limited

Financial Statements

Statement of Comprehensive Income

Statement of Financial Position

Statement of Changes in Equity

Notes to the Financial Statements

Directors and other information

Registered Office

MFD Secretaries Limited

32 Molesworth Street

Dublin 2

Ireland

Company Registration Number

629805

Directors

G Alexander	(independent)
M Brady	(non-independent)
M Green	(non-independent)
J C F Harvey	(non-independent)
D van Lomwel	(non-independent)
J O'Callaghan	(non-independent) - Appointed 1 July 2020

Company Secretary

MFD Secretaries Limited

32 Molesworth Street

Dublin 2

Ireland

Banker

Citibank

1 North Wall Quay Dublin 1

Ireland

Auditor

KPMG

1 Harbourmaster Place

IFSC

Dublin 1

Ireland

Legal Advisor

Maples and Calder LLP

75 St Stephens Green

Dublin 2

Ireland

Strategic report

The Directors present their Strategic report for Neuberger Berman Asset Management Ireland Limited (the "Company") for the year ended 31 December 2020.

Results

The profit for the year, after taxation, amounted to US$ 5,818,663 (period from 5 July 2018 to 31 December 2019: US$ 1,624,213).

Principal activity and future outlook

The Company was incorporated on 5 July 2018 under registration number 629805 and was authorised as an Alternative Investment Fund Manager ("AIFM") on 28 February 2019 by the Central Bank of Ireland ("CBI").

The Company is the authorised alternative investment fund manager for Neuberger Berman Investment Funds II Plc ("NBIF II"), a Qualifying Investor Alternative Investment Fund ("QIAIF") which is incorporated in Ireland and regulated by the CBI. The Company is also authorised with ancillary permissions to perform the following services ("IPM" business):

―	Individual portfolio management
―	Investment advice (to include distribution and marketing)
―	Reception and transmission of orders in relation to financial instruments

The Company is also a sub-advisor and sub-investment manager to certain entities within the Neuberger Berman Group.

The Company has applied to the CBI to extend its regulatory permissions to include that of a UCITS Management Company under the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. No 352 of 2011), as amended. It is envisaged that the Company will become the UCITS Management Company of Neuberger Berman Investment Funds ("NBIF"), subject to due diligence and appointment by the independent board of NBIF.

These will continue to be the principal activities of the Company for the foreseeable future.

Business review

The Company is a wholly owned subsidiary of NBSH Acquisition LLC ("the Group"). The Group is run on an integrated basis through business units, not by the legal construct of its subsidiaries. Therefore the Company's strategy and business model is governed by that of the Group. The Group provides investment management services to clients throughout the Americas, Europe and Asia Pacific across a broad range of investment products.

The Company's primary source of income is from annual management fees received from NBIF II, IPM fees, and Group transfer pricing revenue.

The Company has an established operating platform in 7 EEA locations (Ireland, France, The Netherlands, Germany, Spain, Italy and Sweden) with an average employee number for the year of 64 employees in Portfolio Management, Client Coverage, Compliance, Risk and other support and control functions. The Company opened its most recent branch in Stockholm, Sweden on 1 January 2020. The establishment of EEA branches was pursuant to the Group strategy to mitigate impacts from the UK's withdrawal from the European Union, as referenced on page 3.

The Statement of Comprehensive Income for the period is set out on page 14. Both the level of business during the period and the financial position of the Company at the end of the period were satisfactory.

The Company's key financial and other performance indicators during the year were as follows:

	For the year ended 31 Dec 2020	For the period from 5 July 2018 to 31 December 2019
	US$	US$
Turnover	56,506,389	15,166,939
Profit on ordinary activities before taxation	10,587,346	2,294,670
Profit after tax	5,818,663	1,624,213
Average number of employees	64	13

Turnover of US$ 56.5m represents investment management services provided during the period plus transfer pricing revenue (Period ended 2019: US$ 15.2m).

Principal risks and uncertainties

The Company adopts its own risk management framework, including risk management policies and procedures, consistent with the Group, taking into account its particular business profile.

On 31 January 2020 the UK withdrew from the European Union (EU). The Group had put structures in place to enable it to continue to operate within the EU without any disruption to its business model, this included the transfer of many of the Group's European operations into the Company as noted above. The Board has carefully considered the strategic and operational implications of this withdrawal from the European Union and consider the Company and its branches in a good position in relation to this.

Investment performance

The risk that portfolios fail to achieve their performance hurdles or benchmarks, or performance is poor relative to that of peer funds leading to increased client redemptions and reductions in Assets Under Management (AUM). This is mitigated through having a robust investment process including detailed research, clearly articulated investment philosophy and an independent Investment Risk function that ensures that the level of risk taken for each portfolio is consistent with expectations.

Market and business concentration

The risk that market conditions lead to a reduction of clients' AUM and revenues earned by the Company. This is mitigated by having a broad range of clients by distribution channel, product and region.

The Group also seeks to reduce risk through diversification of its businesses across geographic regions. Large, rapid or unexpected shocks in one or more markets could have an adverse effect on operations or on financial performance and condition.

Key personnel

The Company considers that the Board has sufficient experience in depth to cover any departures and that the appointed directors have sufficient experience and expertise for the roles required of them.

Several key individuals are equity holders of the ultimate parent company. The Company has implemented a retention policy to retain a number of key individuals via a deferred compensation scheme.

Operational and IT

The risk of losses through failed internal processes, people, systems or external events have an adverse impact on the business and its clients either financially or reputationally. This may include trade errors and cyber-attacks. These are mitigated through a strong control framework and control systems designed to minimise these risks to a level that is consistent with the Group's risk appetite.

Regulatory change

The risk that a change in laws and regulations, however driven, will materially affect the Group's global businesses or markets in which it operates. This risk may affect the business either directly or indirectly by reducing investor's appetites for the Group's products, increasing capital requirements, restricting the Group's ability to sell certain products or pursue specific investment strategies. This is mitigated by: continued active and constructive engagement with regulators through regular dialogue, with regulatory developments being monitored within Compliance in liaison with external experts where required and an active involvement with industry bodies.

As noted previously, the Company is authorised and regulated by the CBI. The Company ensures that its activities are limited to those within its permissions and that staff are adequately qualified, experienced and trained.

Liquidity

The risk of poor liquidity management is that it may lead the Company to be unable to meet its payment obligations as they fall due. This is mitigated by the Company reviewing its financial position and resulting liquidity on a regular basis to ensure significant cash or highly liquid assets are available to meet its liabilities.

Approved by the Board and signed on its behalf by:

15 March 2021

M Brady, Director

G Alexander, Director

Director's report

The Directors present their annual report and the financial statements, for the year ended 31 December 2020.

Directors

The Directors, who held office during the period and up to the date of accounts approval, were as follows:

G Alexander
M Brady
M Green
J C F Harvey
D van Lomwel
J O'Callaghan	(appointed 1 July 2020)

The Directors and Company Secretary do not have any disclosable interest in the issued share capital of the Company.

Directors' indemnities

The Company has made qualifying third party indemnity provisions for the benefit of its directors which were made during the year and remain in force at the date of this report.

Directors' remuneration is disclosed in Note 5 of the notes to the financial statements.

Political contributions

The Company made no political donations nor incurred any political expenditure in the year.

Dividends

The Board issued an interim dividend during the period of US$ 1,624,213 (Dividend per share: US$ 0.3135543). The Board have not recommended a final dividend for the period (2019: No interim or final Dividend).

Business review and principal activities

The business review and principal activities are included in the strategic report.

Future developments

The Directors consider the 'Principal activity and future outlook' paragraph of the strategic report noted on page 2 to be a fair depiction of their views and opinions on the future developments of the Company.

Results for the period

The results for the Company are set out on page 14.

Accounting records

Branch operations

The Company has overseas branch operations as follows:

Name of branch	Country of Operation
Milan Branch	Italy
Paris Branch	France
Hague Branch	Netherlands
Frankfurt Branch	Germany
Madrid Branch	Spain
Stockholm Branch	Sweden

Events during the reporting period

On 1 January 2020 the Company initiated operations in Sweden through a branch which was established on 18 November 2019.

Since the start of January 2020, global financial markets have been monitoring and reacting to the novel coronavirus (2019-nCoV) that is believed to have originated in Wuhan, China. The virus has spread, with major outbreaks across the globe, resulting in widespread restrictions on the ability of people to travel, socialise and leave their homes. Global financial markets reacted sharply to the virus outbreak in March 2020 but recovered considerably up to the date of this report as global Central Banks took steps to restore financial stability.

Events after the reporting period

The Board is not aware as at 15 March 2021, being the date the Annual Financial Statements were approved, of any information concerning significant conditions in existence at the reporting date, which have not been reflected in the Annual Financial Statements as presented.

The Company has applied to the CBI to extend its regulatory permissions to include that of a UCITS Management Company under the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. No 352 of 2011), as amended. It is envisaged that the Company will become the UCITS Management Company of NBIF, subject to due diligence and appointment by the independent board of NBIF.

Brexit

The Directors consider Brexit and the Company's response within the Strategic Report as set out on page 3.

Going concern

The Directors do not see any reason why the Company should not adopt the going concern basis in preparing these financial statements.

Disclosure of information to auditor

Each of the directors, who held office at the date the Directors' report is approved confirms that:

(a)	So far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware; and
(b)	The director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Auditor

Pursuant to section 383 (2) of the Companies Act 2014, the auditor, KPMG Chartered Accountants will continue in office.

Directors' compliance statement

The directors, in accordance with Section 225 (2) of the Companies Act 2014, acknowledge that they are responsible for securing the Company's compliance with certain obligations specified in that section arising from the Companies Act 2014, the Market Abuse (Directive 2003/6/EC) Regulations 2005.the Prospectus (Directive 2003/71/EC) Regulations 2005, the Transparency (Directive 2004/109EC) Regulations 2007, and Tax Laws ('relevant obligations'). The directors confirm that:

―	a compliance policy statement has been drawn up setting out the Company's policies with regards to such compliance;
―	appropriate arrangements and structures that, in their opinion, are designed to secure material compliance with the Company's relevant obligations, have been put in place; and
―	a review will be conducted during 2021, of the arrangements and structures that have been put in place to secure the Company's compliance with its relevant obligations.

Corporate Governance Code

The Board has adopted appropriate corporate governance practices and procedures with effect from 12th February 2020 and is satisfied that it has complied with those provisions during the year ended 31 December 2020.

By order of the Board:

15 March 2021

M Brady, Director

G Alexander, Director

Statement of directors' responsibilities in respect of the directors' report and the financial statements

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations.

•	select suitable accounting policies and then apply them consistently;
•	make judgements and estimates that are reasonable and prudent;
•	state whether applicable Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
•	assess the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
•	use the going concern basis of accounting unless they either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

On behalf of the board

15 March 2021

M Brady, Director

G Alexander, Director

Report on the audit of the financial statements

Opinion

We have audited the financial statements of Neuberger Berman Asset Management Ireland Limited ('the Company') for the year ended 31 December 2020, which comprise the Statement of Comprehensive Income, Statement of Financial Position and Statement of Changes in Equity and related notes, including the summary of significant accounting policies set out in note 2.The financial reporting framework that has been applied in their preparation is Irish Law and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

In our opinion, the accompanying financial statements:

•	give a true and fair view of the assets, liabilities and financial position of the Company as at 31 December 2020 and of its profit for the year then ended;
•	have been properly prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland; and
•	have been properly prepared in accordance with the requirements of the Companies Act 2014.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (Ireland) (ISAs (Ireland)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with ethical requirements that are relevant to our audit of financial statements in Ireland, including the Ethical Standard issued by the Irish Auditing and Accounting Supervisory Authority (IAASA), and we have fulfilled our other ethical responsibilities in accordance with these requirements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Other information

The directors are responsible for the other information presented in the Annual Report together with the financial statements. The other information comprises the information included in the directors and other information, strategic report, and directors' report. The financial statements and our auditor's report thereon do not comprise part of the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except as explicitly stated below, any form of assurance conclusion thereon.

Based solely on our work on the other information, we report that:

•	we have not identified material misstatements in the directors' report;
•	in our opinion, the information given in the directors' report is consistent with the financial statements;
•	in our opinion, the directors' report has been prepared in accordance with the Companies Act 2014.

Opinions on other matters prescribed by the Companies Act 2014

We have obtained all the information and explanations which we consider necessary for the purposes of our audit.

Matters on which we are required to report by exception

Respective responsibilities and restrictions on use

Responsibilities of directors for the financial statements

As explained more fully in the directors' responsibilities statement set out on page 10, the directors are responsible for: the preparation of the financial statements including being satisfied that they give a true and fair view; such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error; assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and using the going concern basis of accounting unless they either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

A fuller description of our responsibilities is provided on IAASA's website at https://www.iaasa.ie/getmedia/b2389013-1cf6-458b-9b8f-a98202dc9c3a/Description_of_auditors_responsiblities_for_audit.pdf.

The purpose of our audit work and to whom we owe our responsibilities

15 March 2021

Darina Barrett

for and on behalf of

KPMG

Chartered Accountants, Statutory Audit Firm

1 Harbourmaster Place

IFSC

Dublin D01 F6F5

Ireland

Statement of Comprehensive Income For the year ended 31 December 2020

		For the year ended 31 December 2020	For the period from 5 July 2018 to 31 December 2019
		US$	US$
	Notes
Turnover	3	56,506,389	15,166,939
Cost of sales	4	(1,288,891)	-
Gross profit		55,217,498	15,166,939
Administrative expenses	7	(45,638,587)	(12,804,928)
Operating profit		9,578,911	2,362,011
Other income / (expense)		1,008,435	(67,341)
Profit on ordinary activities before		10,587,346	2,294,670
Tax on profit on ordinary activities	8	(4,768,683)	(670,457)
Total Comprehensive Income		5,818,663	1,624,213

All items dealt with in arriving at the results for the year ended 31 December 2020 relate to continuing operations. The Company has no items of other comprehensive income arising and therefore the total comprehensive income equals the profit for the period.

The notes on pages 17 to 28 form an integral part of these financial statements.

Statement of Financial Position As at 31 December 2020

		31 December 2020	31 December 2019
		US$	US$
	Notes
Fixed Assets
Tangible assets	9	528,263	719,506
Current assets
Cash and cash equivalents	10	32,158,887	23,316,888
Debtors	11	6,983,725	4,243,528
		39,142,612	27,560,416
Creditors: Amounts falling due within one year	12	(23,915,182)	(16,718,679)
Net current assets		15,227,430	10,841,737
Net assets		15,755,693	11,561,243
Capital and reserves
Called-up share capital	14	5,929,036	5,929,036
Share premium account		4,007,994	4,007,994
Profit and loss account		5,818,663	1,624,213
Total shareholder's funds		15,755,693	11,561,243

The financial statements of Neuberger Berman Asset Management Ireland Limited were approved by the Board of directors and authorised for issue on 15 March 2021. They were signed on its behalf by:

M Brady, Director

G Alexander, Director

Statement of Changes in Equity For the year ended 31 December 2020

	Called up Share Capital	Share Premium Account	Profit and Loss Account	Total Equity
	US$	US$	US$	US$
Balance at 5 July 2018	-	-	-	-
Issue of share capital	5,929,036	-	-	5,929,036
Share premium recognised on group reconstruction	-	4,007,994	-	4,007,994
Profit and total comprehensive income for the period	-	-	1,624,213	1,624,213
Balance at 31 December 2019	5,929,036	4,007,994	1,624,213	11,561,243
Dividend Paid	-	-	(1,624,213)	(1,624,213)
Profit and total comprehensive income for the period	-	-	5,818,663	5,818,663
Balance at 31 December 2020	5,929,036	4,007,994	5,818,663	15,755,693

Notes to the financial statements for the year ended 31 December 2020

1. General Information

2. Accounting policies

(a) Basis of Preparation of Financial Statements

These financial statements were prepared in accordance with Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102. These financial statements have been prepared in accordance with applicable accounting standards and prepared on the going concern basis under the historical cost convention, as modified by the recognition of certain financial assets and liabilities measured at fair value. The functional and presentational currency of the Company is United States Dollar (USD). The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements. The prior period amounts are not comparable because the period of operation was longer than a year and included group reconstructions.

The Company has relied upon the exemption under Companies Act 2014 section 300 to file consolidated Financial Statements as its parent Company, Neuberger Berman Europe Limited, a wholly-owned subsidiary of NBEH Limited, whose group accounts are publicly available (qualifying entity).

In these financial statements, the Company is considered to be a qualifying entity (for the purposes of this FRS) and has applied the exemptions available under FRS 102 in respect of the following disclosures:

―	Cash Flow Statement and related notes; and
―	Key Management Personnel compensation.

As the consolidated financial statements of the ultimate holding undertaking (refer to Note 14) include the equivalent disclosures, the Company has also taken the exemptions under FRS 102 available in respect of certain disclosures required by FRS 102.26 Share Based Payments.

(b) Going Concern

After making enquiries, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

(c) Foreign Currencies

The Directors consider that USD is the currency that most faithfully represents the economic effects of the underlying transactions, events, and conditions of the Company.

In preparing the financial statements, transactions in currencies other than the functional currency (foreign currencies) are recognised at the rates of exchange prevailing at the dates of the transactions. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. The resulting differences are accounted for through profit or loss.

(d) Turnover

Turnover is stated net of VAT. Management fees and fees received from group undertakings are recognised on an accruals basis and recorded when earned. Generally, funds and institutional clients are billed monthly based on the account's net asset value. Performance fees are recognised once crystallised.

(e) Rebates

(f) Pension Costs

The Company's Irish pension obligations are covered by payments to a defined contribution scheme administered by Irish Life on behalf of it's Ireland employees (scheme previously administered by Zurich Life and changed during the year). All amounts are charged to the Income statement when they become payable.

The Company also contributes to a number of defined contribution pension schemes on behalf of its non-Ireland employees. All such amounts are charged to the Income statement when they become payable.

(g) Share based payment scheme

The Group operates a share based payment scheme for key individuals. Charges for the scheme are allocated to the Company initially on a straight-line basis with any fair value adjustments to those shares over the vesting period.

An acceleration trigger occurs where an employee is expected to reach retirement age of either 15 years of service by the age of 45 or 10 years of service by the age of 50, on grant of an award the future costs of their share based compensation are accelerated over the remaining time until the trigger date.

(h) Contingent compensation plan

Vesting is conditional on continued employment, the absence of which results in forfeiture of outstanding contingent compensation. An acceleration trigger occurs where an employee is expected to reach retirement age of either 15 years of service by the age of 45 or 10 years of service by the age of 50, on grant of an award the future costs of their share based compensation are accelerated over the remaining time until the trigger date.

(i) Taxation

Current Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in shareholders' funds. In this case, the tax is also recognised in other comprehensive income or directly in shareholders' funds respectively.

The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date in the countries where the Company operates and generates taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

Deferred Tax

Deferred income tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

(j) Cash and Cash Equivalents

Cash and cash equivalents include deposits held at call with banks.

(k) Trade and other debtors/creditors

Trade and other debtors are initially recognized at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors are initially recognized at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

(l) Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Leasehold Improvements	Life of the relevant lease
Fixtures and Fittings	5 years
IT & Similar Equipment	3 years

The carrying value of tangible fixed assets is reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

(m) Expenses

Expenses are recognised in the Profit and Loss Account as incurred and are accounted for on an accruals basis.

Operating lease payments

Payments (excluding costs for services and insurance) made under operating leases are recognised in the profit and loss account on a straight-line basis over the term of the lease. Lease incentives received are recognised in the profit and loss account as an integral part of the total lease expense.

(n) Judgements and key sources of estimation

Management estimation is required to determine the amounts of deferred tax assets/liabilities that should be recognised, based upon likely timing and level of future taxable profits.

(o) Transfer Pricing: Group Profit Share

The Group operates a profit split method (PSM) under its global transfer pricing policy. Under the PSM, entities within the Group will end up either receiving fees or paying fees to the ultimate parent undertaking, this will depend on a number of factors including, but not limited to, Group profitability and Company profitability (pre-PSM). If in any year the Company is in a fee receiving position from the ultimate parent undertaking this will be reflected within Turnover, in any year the Company is in a fee paying position this will be reflected in Administration Expenses.

3. Turnover

The turnover for the year has been derived from:

Class of business	For the year ended 31 December 2020	For the period from 5 July 2018 to 31 December 2019
	US$	US$
Management and related fees	9,316,918	6,230,600
Fees receivable from group undertakings	47,189,471	8,936,339
	56,506,389	15,166,939

Geographical information

Country by Country	For the year ended 31 December 2020	For the period from 5 July 2018 to 31 December 2019
	US$	US$
Ireland	8,300,615	6,052,369
United States	47,189,471	8,936,339
Germany	726,512	103,414
France	196,939	74,817
Netherlands	92,852	-
	56,506,389	15,166,939

4. Cost of Sales

Cost of sales are considered to comprise sub-advisory fees paid to affiliates in respect of the day to day investment activity for assets under management plus rebates payable. For the current period, the Company has nil sub-advisory fees.

	For the year ended 31 December 2020	For the period from 5 July 2018 to 31 December 2019
	US$	US$
Rebates payable	1,288,891	-
	1,288,891	-

5. Information regarding employees

The average number of persons employed by the Company (including directors) during the period, analysed by category, was as follows:

	For the year ended 31 December 2020	For the period from 5 July 2018 to 31 December 2019
Investment Management	14	3
Other	50	10
	64	13

The aggregate payroll costs of these persons were as follows:

	For the year ended 31 December 2020	For the period from 5 July 2018 to 31 December 2019
	US$	US$
Wages and salaries	34,781,526	8,504,299
Social security costs	2,157,559	1,020,708
Contributions to defined contribution plans	1,423,472	306,231
Other employee costs	607,767	153,172
	38,970,324	9,984,410

During the year, the Company was charged US$ 5,827,146 (2019: US$ 1,640,879) from the Group in respect of its share-based payment scheme. The Company is allocated the initial cost of the shares allotted to the Company's employees, on a straight line basis, as well as any fair value adjustments to those shares over the course of the vesting period.

6. Directors' Remuneration

The figures below represent the portion of the Directors' emoluments that are estimated to relate to their service to the Company:

	For the year ended 31 December 2020	For the period from 5 July 2018 to 31 December 2019
	US$	US$
Emoluments	715,858	535,369
Social Security	77,732	39,574
Defined Contribution Schemes	35,999	29,539
	829,589	604,482

No amounts were paid or receivable for Directors' services provided to or from third parties (2019: No amounts paid).

The Company paid contributions to defined contributions pensions of US$ 35,999 (2019: US$ 29,539) in respect of 3 Directors (2019: 2 Directors).

All Executive Directors are deemed to be related parties of the Company.

7. Expenses and auditor's remuneration

Included in the Statement of Comprehensive Income are the following:

	For the year ended 31 December 2020	For the period from 5 July 2018 to 31 December 2019
	US$	US$
Depreciation of tangible fixed assets	195,034	79,836
Operating lease rentals - land and buildings	877,698	256,289
Loss/(Gain) on foreign exchange transactions	(1,004,008)	63,758
Auditor's remuneration	108,050	33,598

The auditor's remuneration amounts exclude out of pocket expenses and VAT. There were no other assurance, tax or advisory, or other non-audit services provided to the Company by the auditor for the year ended 31 December 2020 (2019: No other services provided).

8. Taxation

Total tax expense recognised in the Statement of Comprehensive Income

The tax charge comprises:

	For the year ended 31 December 2020	For the period from 5 July 2018 to 31 December 2019
Current Tax	US$	US$
Irish Corporation Tax	2,151,048	336,719
Double Taxation relief	(2,078,615)	(278,249)
Foreign Tax	4,696,250	611,987
Total current tax	4,768,683	670,457

Factors affecting the tax charge for the current period

The differences between the total current tax shown above and the amount calculated by applying the standard rate of Irish corporation tax to the profit before tax are as follows

	For the year ended 31 December 2020	For the period from 5 July 2018 to 31 December 2019
	US$	US$
Profit before taxation	10,587,346	2,294,670
Tax using the Irish corporation tax rate of 12.5%	1,323,418	286,834
Expenses not deductible	827,630	49,885
Higher tax rates on overseas earnings	2,617,635	333,738
Total tax expense included in Statement of comprehensive income	4,768,683	670,457

Factors that may affect future current and total tax charges

There are no factors that will affect future tax charges.

The standard rate of Irish Corporation tax at the balance sheet date was 12.5%.

9. Tangible Fixed Assets

	Leasehold Improvements	Fixtures, fittings and equipment	IT & similar equipment	Total
	US$	US$	US$	US$
Cost
At 31 December 2019	335,165	393,544	70,633	799,342
Additions	-	3,791	-	3,791
At 31 December 2020	335,165	397,335	70,633	803,133
Depreciation
At 31 December 2019	(21,548)	(39,850)	(18,438)	(79,836)
Charge for the year	(59,406)	(104,439)	(31,189)	(195,034)
At 31 December 2020	(80,954)	(144,289)	(49,627)	(274,870)
Net book value at 31 December	254,211	253,046	21,006	528,263

10. Cash and cash equivalents

	31 December 2020	31 December 2019
	US$	US$
Cash held at bank	32,158,887	23,316,888
	32,158,887	23,316,888

All cash is held with Citibank (2019: All cash held with Citibank).

11. Debtors

	31 December 2020	31 December 2019
	US$	US$
Amounts owed by Group undertakings	5,004,836	2,759,815
Trade debtors	1,474,397	1,035,121
Other debtors	136,466	110,386
Prepayments and accrued income	368,026	338,206
	6,983,725	4,243,528

All trade and other receivables are due within one year, and the fair value of these payables is equal to the carrying value.

12. Creditors: amounts falling due within one year

	31 December 2020	31 December 2019
	US$	US$
Amounts owed to Group undertakings	15,914	3,426,676
Other creditors	16,411,219	11,173,689
Taxation and social insurance	7.488.049	2,118,314
	23,915,182	16,718,679
Taxation and social insurance
Corporation Tax	5,122,310	670,876
Payroll tax related withholdings	2,365,739	1,447,438
	7,488,049	2,118,314

All trade and other payables are due within one year and the fair value of these payables is equal to the carrying value.

Amounts owed to Group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

13. Operating Leases

Leases as lessee

Non-cancellable operating lease rentals are payable as follows:

	31 December 2020	31 December 2019
	US$	US$
Less than one year	392,751	463,077
Between one and five years	538,710	694,594
More than five years	-	-
	931,461	1,157,671

During the year ended 31 December 2020 US$ 877,698 (period from 5 July 2018 to 31 December 2019: US$256,289) was recognised as an expense in the profit and loss in respect of operating leases.

14. Called-up Share Capital and Reserves

	31 December 2020	31 December 2019
	US$	US$
Allotted, called up and issued
5,180,005 Ordinary shares of EUR 1 each	5,929,036	5,929,036

	Year ended 31 December 2020	Period ended 31 December 2019
	US$	US$
Opening Share Capital	5,929,036	-
Shares Issued	-	5,929,036
Closing Share Capital	5,929,036	5,929,036

The Company has authorised share capital of 50,000,000 ordinary shares of 1 Euro each.

Reserves consist of profit and loss account reserves; the profit for the year has been transferred into reserves. An analysis of the movement in reserves can be seen on the Statement of Changes in Equity.

An interim dividend was issued of $1,624,213 (2019: No dividends).

15. Parent and Ultimate Parent

The immediate parent company is Neuberger Berman Europe Limited, a company registered in England and Wales.

The ultimate parent company is NBSH Acquisition, LLC, a company incorporated in the United States of America - the controlling party which consolidates the financial statements of the Company and its global subsidiaries.

The largest group in which the results of the Company are consolidated is that headed by NBSH Acquisition, LLC, 2711 Centerville Road Suite 400, Wilmington, DE 19808, United States. The smallest group in which they are consolidated is that headed by NBEH Limited, Lansdowne House, 57 Berkeley Square, London, W1J 6ER. The consolidated financial statements of NBEH Limited are available to the public.

16. Subsequent events

As at the date of approval of these Annual Financial Statements, we are awaiting response from the CBI regarding the Company's application to extend its regulatory permissions to include that of a UCITS Management Company under the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. No 352 of 2011), as amended. It is envisaged that the Company will become the UCITS Management Company of NBIF, subject to due diligence and appointment by the independent board of NBIF.

17. Approval of Financial Statements

The Financial Statements were approved by the Board of Directors and authorised for issue on 15 March 2021.

30:T187a7,

Neuberger Berman Asset Management Ireland Limited German Branch

Frankfurt am Main

Befreiender Jahresabschluss gem. §325 a HGB
zum Geschäftsjahr vom 05.07.2018 bis zum 31.12.2019

Neuberger Berman Asset Management Ireland Limited

Dublin/Irland

Annual Report and Financial Statements for the period from 5 July 2018 to 31 December 2019

Registered Number: 629805

Report and Financial Statements for the period from 5 July 2018 to 31 December 2019

Contents

Directors and other information

Strategic Report

Directors' Report

Independent Auditor's Report to the shareholder of Neuberger Berman Asset Management Ireland Limited

Financial Statements

Statement of Comprehensive Income

Statement of Financial Position

Statement of Changes in Equity

Notes to the Financial Statements

Directors and other information

Registered Office

MFD Secretaries Limited

32 Molesworth Street

Dublin 2

Ireland

Company Registration Number

629805

Directors

G Alexander	(independent)
M Brady	(non-independent)
M Green	(non-independent)
J C F Harvey	(non-independent)
D van Lomwel	(non-independent)

Company Secretary

MFD Secretaries Limited

32 Molesworth Street

Dublin 2

Ireland

Banker

Citibank

1 North Wall Quay

Dublin 1

Ireland

Auditor

KPMG

1 Harbourmaster Place

IFSC

Dublin 1

Ireland

Legal Advisor

Maples and Calder LLP

75 St Stephens Green

Dublin 2

Ireland

Strategic report

The Directors present their Strategic report for Neuberger Berman Asset Management Ireland Limited (the "Company") for the period from 5 July 2018 to 31 December 2019.

Results

The profit for the period, after taxation, amounted to USS 1,624,213 and has been transferred to reserves.

The Annual Report will cover the extended period from 5 July 2018 to 31 December 2019. Accordingly, no comparative period has been presented.

Principal activity and future outlook

During the period, the Company became the authorised alternative investment fund manager for Neuberger Berman Investment Funds II plc, a Qualifying Investor Alternative Investment Fund (QIAIF) which is incorporated in Ireland and regulated by the Central Bank of Ireland. The Company also became the authorised management company service provider for a set of Individual Portfolios ('IPM'). The Company is also a sub-advisor and sub-investment manager to certain entities within the Neuberger Berman Group.

These will continue to be the principal activities of the Company for the foreseeable future.

Business review

The Company's primary source of income is from annual management fees received from Neuberger Investment Funds II plc, IPM fees, and Group transfer pricing revenue.

Neuberger Berman Europe Limited ("NBEL"), the Company's immediate parent, operated branches in certain countries. The Company acquired some of the NBEL branches in exchange for the issue of share capital. The Company acquired the Italy branch on 1 August 2019, the France branch on 1 September 2019, and the Germany, Netherlands and Spain branches on 1 October 2019, pursuant to the Group strategy to mitigate impacts from the UK's withdrawal from the European Union, as referenced on page 3.

The Statement of Comprehensive Income for the period is set out on page 13. Both the level of business during the period and the financial position of the Company at the end of the period were satisfactory.

The Company's key financial and other performance indicators during the period were as follows:

	US$
Turnover	15,166,939
Profit on ordinary activities before taxation	2,294,670
Profit after tax	1,624,213
Average number of employees	13

Turnover of US$ 15.2m represents investment management services provided during the year plus transfer pricing revenue.

United Kingdom's withdrawal from the European Union

On 31 January 2020 the UK withdrew from the European Union (EU). As at 31 December 2019 the Group had put structures in place to enable it to continue to operate within the EU without any disruption to its business model, this included the transfer of many of the Group's European operations into the Company as noted above.

Principal risks and uncertainties

The Company adopts its own risk management framework consistent with the Group, taking into account its particular business profile.

The principal risks of the Company are aligned with the principal risks of the parent company and the Group. The principal risks of the Company are investment performance, business concentration, market, key personnel, operational and IT, regulatory, and liquidity risks. Risk management policies and procedures for the Group (including all international locations) were developed by the Group with input from the Company. The risks below relate specifically to the Company.

Investment Performance

The risk that portfolios fail to achieve their performance hurdles or benchmarks, or performance is poor relative to that of peer funds leading to increase client redemptions and reductions in Assets Under Management (AUM). This is mitigated through having a robust investment process including detailed research, clearly articulated investment philosophy and an independent Investment Risk function that ensures that the level of risk taken for each portfolio is consistent with expectations.

Market and business concentration

Key personnel

Several key individuals are equity holders of the ultimate parent company. The Company has implemented a retention policy to retain a number of key individuals via a deferred compensation scheme.

Operational and IT

Regulatory Change

As noted previously, the Company is authorised and regulated by the Central Bank of Ireland. The Company ensures that its activities are limited to those within its permissions and that staff are adequately qualified, experienced and trained.

Liquidity

Poor liquidity management may lead the Company to be unable to meet its payment obligations as they fall due. The Company reviews its liquidity on a regular basis to ensure significant cash or highly liquid assets available to meet its liabilities.

Approved by the Board and signed on its behalf by:

19 March 2020

J Harvey, Director

G Alexander, Director

Director's report

The Directors present their report and the audited financial statements, for the period from 5 July 2018 to 31 December 2019.

Directors

The Directors, who held office during the period and up to the date of signing the accounts, were as follows:

G Alexander	(appointed 23 January 2019)
M Brady	(appointed 20 March 2019)
M Green	(appointed 28 November 2018)
J C F Harvey	(appointed 28 November 2018)
D van Lomwel	(appointed 23 January 2019)
P Stapleton	(appointed 5 July 2018, resigned 28 November 2018)
S Carty	(appointed 5 July 2018, resigned 28 November 2018)

The Directors do not have any interest in the issued share capital of the Company.

Directors' Indemnities

The Company has made qualifying third party indemnity provisions for the benefit of its directors which were made during the year and remain in force at the date of this report.

Directors' remuneration is disclosed in Note 6 of the notes to the financial statements.

Political Contributions

The Company made no political donations nor incurred any political expenditure in the year.

Dividends

The Board have not recommended an interim or final dividend for the period.

Business Review and Principal Activities

The business review and principal activities are included in the strategic report.

Future Developments

The Directors consider the 'Business review and future outlook' paragraph of the strategic report noted on page 2 to be a fair depiction of their views and opinions on the future developments of the Company.

Results for the period

The results for the Company are set out on page 13.

Accounting Records

The measures taken by the Directors to secure compliance with the Company's obligation to keep adequate accounting records include the use of appropriate systems and procedures and employment of competent persons. The accounting records are maintained at the business office of Neuberger Berman Asset Management Ireland Limited, at 42 Charlemont Street, Suite 01-102, Dublin.

Branch Operations

The Company has overseas branch operations as follows:

Name of branch	Country of Operation
Milan Branch	Italy
Paris Branch	France
Hague Branch	Netherlands
Frankfurt Branch	Germany
Madrid Branch	Spain

Events During the Reporting Period

The Company was established during the reporting period. The Company acquired the branches from its parent, Neuberger Berman Europe Limited, noted in the strategic report.

Events After The Reporting Period

The Board is not aware as at 19 March 2020, being the date the financial statements were approved, of any information concerning significant conditions in existence at the reporting date, which have not been reflected in the Financial Statements as presented.

On 1 January 2020 the Company initiated operations in Sweden through a branch which was established on 18 November 2019. This event did not have any impact on the Financial Statements presented for the year.

Since the start of January 2020, global financial markets have been monitoring and reacting to the novel coronavirus (2019-nCoV) that is believed to have originated in Wuhan, China. As of mid-March 2020, the virus has sickened around 200,000 people, resulting in around 7,500 deaths. The virus has spread across the Globe, with major outbreaks across the Middle East, Europe and America, resulting in widespread restrictions on the ability of people to travel, socialise and leave their homes. Global financial markets have reacted sharply to this news, with concerns regarding the economic impact this may have on a global scale. The eventual impact on the global economy and markets will largely depend upon the scale and the duration of the outbreak. The impact on the Company will take longer to assess however the Group has enacted its business continuity plans and continue to monitor this situation closely.

Brexit

The Directors consider Brexit and the Company's response within the Strategic Report as set out on page 3.

Going Concern

The Directors do not see any reason why the Company should not adopt the going concern basis in preparing these financial statements

Statement of directors' responsibilities in respect of the financial statements

The Directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.

Irish Company law requires the Directors to prepare financial statements for each financial year. Under that law they have elected to prepare the financial statements in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the Directors are required to:

•	select suitable accounting policies and then apply them consistently:
•	make judgements and accounting estimates that are reasonable and prudent;
•	state whether applicable Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
•	assess the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
•	use the going concern basis of accounting unless they either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

The Directors are responsible for keeping adequate accounting records with reasonable accuracy at any time of the assets, liabilities, financial position and profit or loss of the Company and which enable them to ensure that the financial statements comply with the Companies Act 2014. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the company and to prevent and detect fraud and other irregularities. The Directors are also responsible for preparing a directors' report that complies with the requirements of the Companies Act 2014.

The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the Republic of Ireland governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of information to auditors

Each of the directors, who held office at the date the Directors' report is approved, confirms that:

a)	so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware; and
b)	the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Auditor

Pursuant to section 383 (2) of the Companies Act 2014, the auditors, KPMG Chartered Accountants were appointed during the financial period and have indicated their willingness to continue in office.

By order of the Board:

19 March 2020

J Harvey, Director

G Alexander, Director

Independent Auditor's Report to the shareholder of Neuberger Berman Asset Management Ireland Limited

Report on the audit of the financial statements

Opinion

We have audited the financial statements of Neuberger Berman Asset Management Ireland Limited ('the Company') for the period from 5 July 2018 through 31 December 2019, which comprise the Statement of Financial Position, Statement of Comprehensive Income, and Statement of Changes in Equity and related notes, including the summary of significant accounting policies set out in note 2.The financial reporting framework that has been applied in their preparation is Irish Law and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

In our opinion, the accompanying financial statements:

•	give a true and fair view of the assets, liabilities and financial position of the Company as at 31 December 2019 and of its profit for the period from 5 July 2018 through 31 December 2019;
•	have been properly prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland; and
•	have been properly prepared in accordance with the requirements of Companies Act 2014.

Basis for Opinion

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

We have nothing to report on going concern

We are required to report to you if we have concluded that the use of the going concern basis of accounting is inappropriate or there is an undisclosed material uncertainty that may cast significant doubt over the use of that basis for a period of at least twelve months from the date of approval of the financial statements. We have nothing to report in these respects.

Other information

The Directors are responsible for the other information presented in the Annual Report together with the financial statements. The other information comprises the information included in the Directors and other information, Strategic Report and Directors' Report. The financial statements and our auditor's report thereon do not comprise part of the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except as explicitly stated below, any form of assurance conclusion thereon.

Based solely on our work on the other information, we report that:

•	we have not identified material misstatements in the Directors' report;
•	in our opinion, the information given in the Directors' report is consistent with the financial statements;
•	in our opinion, the Directors' report has been prepared in accordance with the Companies Act 2014.

Opinions on other matters prescribed by the Companies Act 2014

We have obtained all the information and explanations which we consider necessary for the purposes of our audit.

In our opinion the accounting records of the Company were sufficient to permit the financial statements to be readily and properly audited and the financial statements are in agreement with the accounting records.

Matters on which we are required to report by exception

The Companies Act 2014 requires us to report to you if, in our opinion:

•	the disclosures of directors' remuneration and transactions required by Sections 305 to 312 of the Act are not made; or
•	Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us.

We have nothing to report in this regard.

Respective responsibilities and restrictions on use

Responsibilities of directors for the financial statements

As explained more fully in the Directors' responsibilities statement set out on page 8, the Directors are responsible for: the preparation of the financial statements including being satisfied that they give a true and fair view; such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error; assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and using the going concern basis of accounting unless they either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

A fuller description of our responsibilities is provided on IAASA's website at

https://iaasa.ie/Publications/Auditing-standards/Internalional-Standards-on-Auditing-for-use-in-Ire/Description-of-the-auditor-s-responsibilities-for

The purpose of our audit work and to whom we owe our responsibilities

19 March 2020

Darina Barrett

For and on behalf of

KPMG

Chartered Accountants, Statutory Audit Firm

1 Harbourmaster Place

IFSC

Dublin D01 F6F5

Ireland

Statement of Comprehensive Income

For the period from 5 July 2018 to 31 December 2019

	For the period from 5 July 2018 to 31 December 2019
	Notes	US$
Turnover	3	15,166,939
Gross profit		15,166,939
Administrative expenses		(12,804,928)
Operating profit		2,362,011
Other income / (expense)		(67,341)
Profit on ordinary activities before taxation		2,294,670
Tax on profit on ordinary activities	8	(670,457)
Total Comprehensive Income		1,624,213

All items dealt with in arriving at the results for the period from 5 July 2018 to 31 December 2019 relate to continuing operations. The Company has no items of other comprehensive income arising and therefore the total comprehensive income equals the profit for the period.

The notes on pages 16 to 28 form an integral part of these financial statements.

Statement of Financial Position

As at 31 December 2019

		31 December 2019
		US$
	Notes
Fixed Assets
Tangible assets	9	719,506
Current assets
Cash and cash equivalents	10	23,316,888
Debtors	11	4,243,528
		27,560,416
Creditors: Amounts falling due within one year	12	(16,718,679)
Net current assets		10,841,737
Net assets		11,561,243
Capital and reserves
Called-up share capital	14	5,929,036
Share premium account	15	4,007,994
Profit and loss account	14	1,624,213
Total shareholder's funds		11,561,243

The financial statements of Neuberger Berman Asset Management Ireland Limited were approved by the Board of directors and authorised for issue on 19 March 2020. They were signed on its behalf by:

J Harvey, Director

G Alexander, Director

Statement of Changes in Equity

For the period from 5 July 2018 to 31 December 2019

	Called up Share Capital	Share Premium Account	Profit and Loss Account	Total Equity
	US$	US$	US$	US$
Balance at 5 July 2018	-	-	-	-
Issue of share capital	5,929,036	-	-	5,929,036
Share premium recognised on group reconstruction	-	4,007,994	-	4,007,994
Profit and total comprehensive income for the period	-	-	1,624,213	1,624,213
Balance at 31 December 2019	5,929,036	4,007,994	1,624,213	11,561,243

The notes on pages 16 to 28 form an integral part of these financial statements.

Notes to the financial statements for the period ended 31 December 2019

1. General Information

Neuberger Berman Asset Management Ireland Limited (the Company) is a limited liability company incorporated on 5 July 2018 in Ireland under registration number 629805. The Company received authorisation on 28 February 2019 from the Central Bank of Ireland as an Alternative Investment Fund Manager under the European Union (Alternative Investment Fund Managers) Regulations 2013, as amended.

2. Accounting policies

(a) Basis of Preparation of Financial Statements

These financial statements were prepared in accordance with Financial Reporting Standard 102 The Financial Reporting Standard applicable in the Republic of Ireland ("FRS 102") as issued in August 2014. These financial statements have been prepared in accordance with applicable accounting standards and prepared on the going concern basis under the historical cost convention, as modified by the recognition of certain financial assets and liabilities measured at fair value. The functional and presentational currency of the Company is United States Dollar (USD). The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements.

The Company has relied upon the exemption under Companies Act 2014 section 300 to file consolidated Financial Statements as its parent Company, Neuberger Berman Europe Limited is a wholly-owned subsidiary of NBEH Limited, whose group accounts are publicly available (qualifying entity).

As a qualifying entity, the Company has taken advantage of the exemption in section 7 of FRS 102 from the requirement to prepare a Statement of cash flows. It has also taken advantage of exemption from the requirement of Section 33 paragraph 33.7 to disclose key management personnel compensation in total. The accounting policies have been applied consistently to all periods presented in the financial statements.

(b) Going Concern

(c) Foreign Currencies

The Directors consider that USD is the currency that most faithfully represents the economic effects of the underlying transactions, events, and conditions of the Company.

(d) Turnover

(e) Pension Costs

The Company's Irish pension obligations are covered by payments to a defined contribution scheme administered by Zurich Life on behalf of it's Ireland employees. All amounts are charged to the Income statement when they become payable.

The Company also contributes to a number of pension schemes on behalf of its non-Ireland employees. All such amounts are charged to the Income statement when they become payable.

(f) Share based payment transactions

Where the Company is part of a group share-based payment plan, it recognises and measures its share-based payment expense on the basis of a reasonable allocation of the expense recognised for the group. The basis of such allocation is disclosed in note 5.

(g) Contingent compensation plan

Vesting is conditional on continued employment, the absence of which results in forfeiture of outstanding contingent compensation. An acceleration trigger occurs where an employee is expected to reach retirement age or either 15 years of service by the age of 45 or 10 years of service by the age of 50, on grant of an award the future costs of their share based compensation are accelerated over the remaining time until the trigger date.

(h) Taxation

Current Tax

The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date in the countries where the Company operates and generates taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

Deferred Tax

Deferred income tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

(i) Cash and Cash Equivalents

Cash and cash equivalents include deposits held at call with banks.

(j) Trade and other debtors/creditors

(k) Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Leasehold Improvements	Life of the relevant lease
Fixtures and Fittings	5 years
IT & Similar Equipment	3 years

The carrying value of tangible fixed assets is reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

(l) Business combinations

The Company accounts for business combinations arising out of group reconstructions under the merger accounting method. This results in the carrying value of any assets and liabilities acquired being accounted for at carrying value and not adjusted for fair value. The results of the branches are included from the date of control passed to the Company as detailed in note 15. No comparatives have been restated for the results of the branches.

(m) Expenses

Expenses are recognised in the Profit and Loss Account as incurred and are accounted for on an accruals basis.

Operating lease payments

(n) Judgements and key sources of estimation

Management estimation is required to determine the amounts of deferred tax assets/liabilities that should be recognised, based upon likely timing and level of future taxable profits.

3. Turnover

The turnover for the period has been derived from:

Class of business	Period ended 31 December 2019
	US$
Management and related fees	6,230,600
Fees receivable from group undertakings	8,936,339
	15,166,939

Geographical information

Country by Country	Period ended 31 December 2019
	US$
Ireland	6,052,369
United States	8,936,339
Germany	103,414
France	74,817
	15,166,939

4. Cost of sales

Cost of sales are considered to comprise sub-advisory fees and distribution fees paid to affiliates in respect of the day to day investment activity for assets under management. For the current period, the Company has nil sub-advisory fees or distribution fees.

5. Information regarding employees

The average number of persons employed by the Company (including directors) during the period, analysed by category, was as follows:

	Period ended 31 December 2019
Investment Management	3
Other	10
	13

The aggregate payroll costs of these persons were as follows:

	Period ended 31 December 2019
	US$
Wages and salaries	8,504,299
Social security costs	1,020,708
Contributions to defined contribution plans	306,231
Other employee costs	153,172
	9,984,410

During the year, the Company was charged US$ 1,640,879 from the wider Neuberger Berman Group in respect of its share-based payment scheme. The Company is allocated the initial cost of the shares allotted to the Company's employees, on a straight line basis, as well as any fair value adjustments to those shares over the course of the vesting period.

6. Director's Remuneration

The figures below represent the portion of the Directors' emoluments that are estimated to relate to their service to the Company:

	Period ended 31 December 2019
	US$
Short-term employee benefits	535,369
Social Security	39,574
	574,943

The key management personnel are solely comprised of the Directors of the Company as listed in the Directors' Report.

No amounts were paid or receivable for Directors' services provided to or from third parties.

The Company paid contributions to defined benefit pensions and defined contributions pensions of US$ 29,539 in respect of 2 Directors. 2 Directors have benefits accruing under defined benefit pension arrangements at 31 December 2019.

All executive Directors are deemed to be related parties of the Company.

7. Expenses and auditors' remuneration

Included in the Income Statement are the following:

	Period ended 31 December 2019
	US$
Depreciation of tangible fixed assets	79,836
Operating lease rentals - land and buildings	256,289
Loss on foreign exchange transactions	63,758
Auditor's remuneration	33,598

The auditor's remuneration amounts exclude out of pocket expenses and VAT.

8. Taxation

Total tax expense recognised in the Statement of comprehensive income

The tax charge comprises:

	Period ended 31 December 2019
Current Tax	US$
Irish Corporation Tax	336,719
Double Taxation relief	(278,249)
Foreign Tax	611,987
Total current tax	670,457

Factors affecting the tax charge for the current period

The differences between the total current tax shown above and the amount calculated by applying the standard rate of Irish corporation tax to the profit before tax are as follows

	Period ended 31 December 2019
	US$
Profit before taxation	2,294,670
Tax using the Irish corporation tax rate of 12.5%	286,834
Expenses not deductible	49,885
Higher tax rates on overseas earnings	333,738
Total tax expense included in Statement of comprehensive income	670,457

Factors that may affect future current and total tax charges

There are no factors that will affect future tax charges.

The standard rate of Irish Corporation tax at the balance sheet date was 12.5%.

9. Tangible Fixed Assets

	Leasehold Improvements	Fixtures, fittings and equipment	IT & similar equipment	Total
	US$	US$	US$	US$
Cost
At 5 July 2018	-	-	-	-
Additions	2,828	-	-	2,828
Acquisitions through business combinations	332,337	393,544	70,633	796,514
At 31 December 2019	335,165	393,544	70,633	799,342
Depreciation
At 5 July 2018	-	-	-	-
Charge for the period	(21,548)	(39,850)	(18,438)	(79,836)
At 31 December 2019	(21,548)	(39,850)	(18,438)	(79,836)
Net book value at 31 December	313,617	353,694	52,195	719,506

10. Cash and cash equivalents

	31 December 2019
	US$
Cash held at bank	23,316,888
	23,316,888

At 31 December 2019, all cash was held with Citibank.

11. Debtors

	31 December 2019
	US$
Amounts owed by Group undertakings	2,759,815
Trade debtors	1,035,121
Other debtors	110,386
Prepayments and accrued income	338,206
	4,243,528

All trade and other receivables are due within one year, and the fair value of these payables is equal to the carrying value.

12. Creditors: amounts falling due within one year

	31 December 2019
	US$
Amounts owed to Group undertakings	3,426,676
Other creditors	11,173,689
Taxation and social insurance	2,118,314
	16,718,679
Taxation and social insurance
Corporation Tax	670,876
Payroll tax related withholdings	1,447,438
	2,118,314

All trade and other payables are due within one year and the fair value of these payables is equal to the carrying value.

Amounts owed to Group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

13. Operating Leases

Leases as lessee

Non-cancellable operating lease rentals are payable as follows:

	2019
	US$
Less than one year	463,077
Between one and five years	694,594
More than five years	-
	1,157,671

During the period expense of $256,289 was recognised as an expense in the profit and loss in respect of operating leases.

14. Called-up Share Capital and Reserves

	31 December 2019
	US$
Authorised
50,000,000 Ordinary shares of EUR 1 each	56,090,000
Allotted, called up and issued
5,180,005 Ordinary shares of EUR 1 each	5,929,036

	Period Ended 31 December 2019
	US$
Opening Share Capital	-
Shares Issued	5.929.036
Closing Share Capital	5,929,036

On 28 November 2018, the Company issued 2 ordinary shares for cash consideration of 1 EUR each in relation to the initial capitalisation of the Company and the shares are presented as equity.

On 18 February 2019, the Company issued 5,179,998 ordinary shares for cash consideration of 1 EUR each in relation to increasing the capital of the Company and the shares are presented as equity.

On 1 August 2019, the Company issued 1 ordinary share for cash consideration of 1 EUR in relation to the transfer of the Italy branch from Neuberger Berman Europe Limited and the share is presented as equity.

On 1 September 2019, the Company issued 1 ordinary share for cash consideration of 1 EUR in relation to the transfer of the France branch from Neuberger Berman Europe Limited and the share is presented as equity.

On 1 October 2019, the Company issued 3 ordinary shares for cash consideration of 1 EUR each in relation to the transfer of the Netherlands, Spain and Germany branches from Neuberger Berman Europe Limited and the shares are presented as equity.

As part of the allotment of the shares relating to the branch transfers from Neuberger Berman Europe Limited, the Company recognised $4,007,994 as share premium. This is further detailed in Note 15.

15. Business Combinations

During the period, the net assets of five European branch entities from Neuberger Berman Europe Limited (NBEL) were transferred to the Company. The transaction was completed in three tranches on 1 August 2019, 1 September 2019 and 1 October 2019. In consideration for the assets transferred, the Company issued five shares equivalent in value to the net carrying value of the assets and liabilities of each branch transferred. Share premium of US$4,007,994 was recorded. The branches perform predominantly distribution services with some investment management services being provided in the Netherlands and France.

	Italy Branch	France Branch	Netherlands Branch	Spain Branch	Germany Branch	Total
	US$	US$	US$	US$	US$	US$
	1 Aug 2019	1 Sep 2019	1 Oct 2019	1 Oct 2019	1 Oct 2019
Cash and cash equivalents	-	427,300	1,187,000	-	-	1,614,300
Furniture, Fixtures & Leasehold Improvements, net.	653,617	15,253	56,044	-	71,600	796,514
Prepaid Expenses and Other Assets	91,383	60,447	99,956	5,000	2,300	259,086
Accrued Compensation & Benefits	(433,000)	(953,100)	(5,422,000)	(106,000)	(500,700)	(7,414,800)
Accrued Expenses & Other Payables	-	(344,600)	-	-	(111,500)	(456,100)
Intercompany, net.	1,771,000	1,297,700	5,422,000	106,000	612,300	9,209,000
	2,093,000	503,000	1,343,000	5,000	74,000	4,008,000
Capital Issued
Share Capital	1.11	1.10	1.12	1.12	1.12	6
Share Premium Issued	2,082,998.89	502,998.90	1,342,998.88	4,998.88	73,998.88	4,007,994
	2,083,000	503,000	1,343,000	5,000	74,000	4,008,000

Under section 71 of the Companies Act 2014, the Company has issued share capital and share premium for the businesses acquired.

16. Parent and Ultimate Parent

The immediate parent company is Neuberger Berman Europe Limited, a Company registered in England and Wales.

The ultimate parent company is NBSH Acquisition, LLC, a Company incorporated in the United States of America - the controlling party which consolidates the financial statements of the Company and its global subsidiaries ("Neuberger Berman").

The largest group in which the results of the Company are consolidated is that headed by NBSH Acquisition, LLC, 2711 Centerville Road Suite 400, Wilmington, DE 19808, United States. The smallest group in which they are consolidated is that headed by NBEH Limited, Lansdowne House, 57 Berkeley Square, London, W1J 6ER. The consolidated financial statements of NBEH Limited are available to the public.

17. Subsequent events

On 1 January 2020, the Company initiated operations in Sweden through a branch which was established on 18 November 2019. This event did not have any impact on the Financial Statements presented for the year.

Since the start of January 2020, global financial markets have been monitoring and reacting to the novel coronavirus (2019-nCoV) that is believed to have originated in Wuhan, China. As of mid-March 2020, the virus has sickened around 200,000 people, resulting in around 7,500 deaths. The virus has spread across the Globe, with major outbreaks across the Middle East, Europe and America, resulting in widespread restrictions on the ability of people to travel, socialise and leave their homes. Global financial markets have reacted sharply to this news, with concerns regarding the economic impact this may have on a global scale. The eventual impact on the global economy and markets will largely depend upon the scale and the duration of the outbreak. The impact on the Company will take longer to assess however the Group has enacted its business continuity plans and continue to monitor this situation closely.

18. Approval of Financial Statements

The Financial Statements were approved by the Board of Directors and authorised for issue on 19 March 2020.

1d:["$","div",null,{"className":"h-full w-full flex flex-col overflow-hidden","children":["$","div",null,{"className":"flex-1 overflow-y-auto bg-registercheck-theme-light-background dark:bg-registercheck-theme-dark-background","children":["$","$L2a",null,{"profileId":"3454ec4c-dab3-4108-849f-f9018c300aba","profileName":"Neuberger Berman Asset Management Ireland Limited German Branch","is_kg":false,"profileType":"company","registrationNumber":114969,"city":"Frankfurt am Main","status":"ACTIVE","children":["$","$L2b",null,{"id":"3454ec4c-dab3-4108-849f-f9018c300aba","companyBasicInfo":{"id":"3454ec4c-dab3-4108-849f-f9018c300aba","name":"Neuberger Berman Asset Management Ireland Limited German Branch","slug":"neuberger-berman-asset-management-ireland-limited-german-branch","raw_name":"Neuberger Berman Asset Management Ireland Limited German Branch","legal_form":"private company limited by shares","is_kg":false,"full_address":"Eurotheum, Neue Mainzer Straße 66-68, 60311 Frankfurt am Main","street":"Eurotheum, Neue Mainzer Straße 66-68","postal_code":"60311","city":"Frankfurt am Main","state":null,"country":"DE","lat":null,"lng":null,"register_id":"Amtsgericht Frankfurt am Main HRB 114969","register_court":"Amtsgericht Frankfurt am Main","register_number":114969,"register_country":"DE","register_unique_key":"M1201","register_prefix":"HRB","lei":null,"eu_id":null,"elf_code":null,"company_purpose":"Anlageberatung (einschließlich Vertrieb und Marketing) und Entgegennahme und Weiterleitung von Aufträgen in Bezug auf Finanzinstrumente","original_purpose":null,"original_purpose_lang":"de","proxy_policy":null,"linkedin_url":null,"instagram_url":null,"facebook_url":null,"crunchbase_url":null,"twitter_url":null,"website_url":null,"stock_ticker":null,"phone_number":null,"email_address":null,"summary":null,"favicon":null,"status":"ACTIVE","terminated_at":null,"founded_at":null,"share_capital":50000000,"share_capital_currency":"EUR","has_financial_reports":true,"financial_reports_count":5,"last_entry_date":"2025-01-27T00:00:00","is_visible":true,"is_privacy_blocked":false,"sanctions_status":null,"sanctions_type":null,"sanctions_last_checked":null,"sanctions_data":null,"ad_extract_v2":{"id":"e56d9eec-2188-4762-8851-9d02e20ddcd0"},"extracted_representatives":[{"id":"e57de2a9-5cb9-40b6-af75-1ed5927af4eb","is_company":false,"city":"Frankfurt am Main","titles":[],"last_name":"Puschmann","first_name":"Christian","birth_name":null,"birth_date":"11.07.1967","role":"Ständiger Vertreter","job":null,"name":null,"register_court":null,"register_number":null,"register_prefix":null,"register_id":null,"status":null,"representation_rule":null,"is_general_partner":null,"person":{"id":"06618e74-7e7d-4be3-9700-9301ac0ea540"},"company":null,"events":[{"id":"1a510a7b-574c-461f-b8bd-67939de43b38","event_date":"2024-05-07T00:00:00","status":"ADDED"}]},{"id":"e7993542-5e52-43f2-8e9e-7e285bb8e9f3","is_company":false,"city":"Dublin","titles":[],"last_name":"Alexander","first_name":"Grainne","birth_name":null,"birth_date":"27.05.1969","role":"Geschäftsführende Direktorin","job":null,"name":null,"register_court":null,"register_number":null,"register_prefix":null,"register_id":null,"status":null,"representation_rule":null,"is_general_partner":null,"person":{"id":"ff26d3e9-3364-4187-ac40-505f10ff590b"},"company":null,"events":[{"id":"fb472d92-fda6-43e6-8fca-1b02c007f76f","event_date":"2024-05-07T00:00:00","status":"ADDED"}]},{"id":"1ccb4fbe-ba2d-4fa4-a44b-27076a7598de","is_company":false,"city":"Dublin","titles":[],"last_name":"Brady","first_name":"Mary","birth_name":null,"birth_date":"01.04.1972","role":"Direktorin","job":null,"name":null,"register_court":null,"register_number":null,"register_prefix":null,"register_id":null,"status":null,"representation_rule":null,"is_general_partner":null,"person":{"id":"e6716153-ca35-4b50-87bc-ec40ac9e9802"},"company":null,"events":[{"id":"caa1bb02-bd22-4448-b09c-2cd5f98a825b","event_date":"2024-05-07T00:00:00","status":"ADDED"}]},{"id":"73920f2b-6c4a-4116-a6ab-2d8ac8141738","is_company":false,"city":"London","titles":[],"last_name":"Charles-Barral","first_name":"Chrystelle","birth_name":null,"birth_date":"03.08.1975","role":"Geschäftsführender Direktor","job":null,"name":null,"register_court":null,"register_number":null,"register_prefix":null,"register_id":null,"status":null,"representation_rule":null,"is_general_partner":null,"person":{"id":"6af9d1e7-44e9-4541-9e07-d734e7ae9ac4"},"company":null,"events":[{"id":"028d2f58-9190-4297-b12a-6c1fa46248d3","event_date":"2024-05-07T00:00:00","status":"ADDED"}]},{"id":"88bf288e-8ce0-4da9-9e53-6115590b2eb9","is_company":false,"city":"Chester, New Jersey","titles":[],"last_name":"Lomelo","first_name":"Patrick","birth_name":null,"birth_date":"17.02.1971","role":"Geschäftsführender Direktor","job":null,"name":null,"register_court":null,"register_number":null,"register_prefix":null,"register_id":null,"status":null,"representation_rule":null,"is_general_partner":null,"person":{"id":"bbf6d229-ef9b-460f-b57c-619c82c75dca"},"company":null,"events":[{"id":"e9a0c982-4aad-4fc3-9ba3-1e08b2b6eae7","event_date":"2024-05-07T00:00:00","status":"ADDED"}]},{"id":"e5f47418-53a0-49d6-a59b-db50ed61aba2","is_company":false,"city":"Co Kildare","titles":[],"last_name":"O'Callaghan","first_name":"John","birth_name":null,"birth_date":"07.10.1964","role":"Geschäftsführender Direktor","job":null,"name":null,"register_court":null,"register_number":null,"register_prefix":null,"register_id":null,"status":null,"representation_rule":null,"is_general_partner":null,"person":{"id":"eb3d0e59-c853-47f7-a16e-44802a8158e0"},"company":null,"events":[{"id":"5e293b66-7b5c-44af-9e03-71665056002e","event_date":"2024-05-07T00:00:00","status":"ADDED"}]},{"id":"b15dee2e-2516-47d4-88a0-17b99c7b6518","is_company":false,"city":"Charleville","titles":[],"last_name":"Reidy","first_name":"Deborah","birth_name":null,"birth_date":"21.12.1963","role":"Geschäftsführender Direktor","job":null,"name":null,"register_court":null,"register_number":null,"register_prefix":null,"register_id":null,"status":null,"representation_rule":null,"is_general_partner":null,"person":{"id":"e3632ee2-44f0-4c5c-b67a-439c47c51e36"},"company":null,"events":[{"id":"6fcd8a05-cd20-479f-bea1-5f6f710e96b3","event_date":"2024-05-07T00:00:00","status":"ADDED"}]}],"extracted_limited_partners":[],"extracted_general_partners":[],"company_meta_data":{"id":"87cba5d4-a486-413c-9d23-5cf3b18b427c","company_name":"Neuberger Berman Asset Management Ireland Limited German Branch","legal_form":"private company limited by shares","last_changed_at":null,"origin_date":null,"headquarter":"Frankfurt am Main","full_address":"Eurotheum, Neue Mainzer Straße 66-68, 60311 Frankfurt am Main","street":null,"postal_code":null,"city":"Frankfurt am Main","state":null,"country":"DE","lat":null,"lng":null,"register_number":114969,"share_capital":"50000000.0","share_capital_currency":"EUR","legal_relationships":null,"company_purpose":"Anlageberatung (einschließlich Vertrieb und Marketing) und Entgegennahme und Weiterleitung von Aufträgen in Bezug auf Finanzinstrumente","entry_count":5,"lei_number":null,"eu_id":null,"elf_code":null,"last_entry_date":"2024-05-07T00:00:00","held_company_id":"3454ec4c-dab3-4108-849f-f9018c300aba","ad_extract_v2_id":"e56d9eec-2188-4762-8851-9d02e20ddcd0"},"prokura_persons":[],"documents":[{"id":"840dbe12-88f9-4c18-a248-bc93ad2fef7d","name":"Handelsregisterauszug-NeubergerBermanAssetManagementIrelandLimitedGermanBranch.pdf","url":"https://nbg1.your-objectstorage.com/registercheck/525f7064-65cb-41f4-83a6-1e8fc388dd6f/Handelsregisterauszug-NeubergerBermanAssetManagementIrelandLimitedGermanBranch.pdf?AWSAccessKeyId=FQO31O45YZYH72HB47QW&Signature=vRhJ6d3xkBUI4%2BpGQ3Xyz96kF5o%3D&Expires=33282012247","type":"CURRENT_EXTRACT","content_type":null,"source_name":null,"published_at":null,"path":null,"company_id":"3454ec4c-dab3-4108-849f-f9018c300aba"},{"id":"c3f1c870-6571-4ee8-9ea6-7799766203d5","name":"Dokument-NeubergerBermanAssetManagementIrelandLimitedGermanBranch.xml","url":"https://nbg1.your-objectstorage.com/registercheck/e2f283eb-7938-4222-b714-076e2bd720ef/Dokument-NeubergerBermanAssetManagementIrelandLimitedGermanBranch.xml?AWSAccessKeyId=FQO31O45YZYH72HB47QW&Signature=Ox9Osqs2S4Ks%2BG8CJgVncFF3eBg%3D&Expires=33281025262","type":"STRUCTURED_REGISTER_CONTENT","content_type":null,"source_name":null,"published_at":null,"path":null,"company_id":"3454ec4c-dab3-4108-849f-f9018c300aba"},{"id":"bb25b892-3bab-457e-bcde-5a9163a6b763","name":"Chronologischer-Handelsregisterauszug-NeubergerBermanAssetManagementIrelandLimitedGermanBranch.pdf","url":"https://nbg1.your-objectstorage.com/registercheck/937bf8f0-124c-4c5c-8e1c-d64794d0aadf/Chronologischer-Handelsregisterauszug-NeubergerBermanAssetManagementIrelandLimitedGermanBranch.pdf?AWSAccessKeyId=FQO31O45YZYH72HB47QW&Signature=r7Z7IZKaRdvq8gCr0%2BHlL1oizFo%3D&Expires=33281025267","type":"CHRONOLOGICAL_REGISTER_CONTENT","content_type":null,"source_name":null,"published_at":null,"path":null,"company_id":"3454ec4c-dab3-4108-849f-f9018c300aba"}],"financial_reports":[{"id":"243752eb-28b5-455e-943b-52400846c27e","name":"Jahresabschluss zum Geschäftsjahr vom 01.01.2023 bis zum 31.12.2023","link":"?submitaction=showDocument&id=34798244","date":"30.08.2024","language":"Englisch","report_pdf_url":"https://nbg1.your-objectstorage.com/registercheck/9833c8b2-610b-4bfd-8cf6-b69dc15d90d5/Neuberger_Berman_Asset_Management_Ireland_Limited_German_Branch_Jahresabschluss_zum_Geschaeftsjahr_vom_01.01.2023_bis_zum_31.12.2023.pdf?AWSAccessKeyId=FQO31O45YZYH72HB47QW&Signature=L15mPZVshUjU2kbiwu0PJywDIcw%3D&Expires=33275483607","report_table_html_url":"https://nbg1.your-objectstorage.com/registercheck/e2337286-289a-402b-8427-cb29fbbad863/Neuberger_Berman_Asset_Management_Ireland_Limited_German_Branch_Jahresabschluss_zum_Geschaeftsjahr_vom_01.01.2023_bis_zum_31.12.2023.html?AWSAccessKeyId=FQO31O45YZYH72HB47QW&Signature=tyTa5TQ4ESKwwJqrL3J84SZBBE8%3D&Expires=33275483605","financial_data":null,"is_consolidated":false,"company_id":"3454ec4c-dab3-4108-849f-f9018c300aba","html_content":"$2c"},{"id":"bb5a08b4-bdf6-405c-b831-2af0e40450e2","name":"Jahresabschluss zum Geschäftsjahr vom 01.01.2022 bis zum 31.12.2022","link":"?submitaction=showDocument&id=33076462","date":"21.09.2023","language":"Englisch","report_pdf_url":"https://nbg1.your-objectstorage.com/registercheck/89b8d7b9-5f59-4032-af26-aaab71cb1dab/Neuberger_Berman_Asset_Management_Ireland_Limited_German_Branch_Jahresabschluss_zum_Geschaeftsjahr_vom_01.01.2022_bis_zum_31.12.2022.pdf?AWSAccessKeyId=FQO31O45YZYH72HB47QW&Signature=%2Ftv8JfB0ebN7DQqu7vCsa6qwFik%3D&Expires=33275483623","report_table_html_url":"https://nbg1.your-objectstorage.com/registercheck/8f238146-3c40-4288-a689-e10d7d9f846e/Neuberger_Berman_Asset_Management_Ireland_Limited_German_Branch_Jahresabschluss_zum_Geschaeftsjahr_vom_01.01.2022_bis_zum_31.12.2022.html?AWSAccessKeyId=FQO31O45YZYH72HB47QW&Signature=LZ5CGXdrbtNzoAk53tWi4%2FdOu9c%3D&Expires=33275483621","financial_data":null,"is_consolidated":false,"company_id":"3454ec4c-dab3-4108-849f-f9018c300aba","html_content":"$2d"},{"id":"2369dbcf-e1bf-4b6e-8a14-b4ef546d68b3","name":"Jahresabschluss zum Geschäftsjahr vom 01.01.2021 bis zum 31.12.2021","link":"?submitaction=showDocument&id=30679126","date":"24.05.2022","language":"Englisch","report_pdf_url":"https://nbg1.your-objectstorage.com/registercheck/607323b3-2b55-4fff-be17-5dabe71e15b4/Neuberger_Berman_Asset_Management_Ireland_Limited_German_Branch_Jahresabschluss_zum_Geschaeftsjahr_vom_01.01.2021_bis_zum_31.12.2021.pdf?AWSAccessKeyId=FQO31O45YZYH72HB47QW&Signature=runHh7d94AVpJ8sCwasYOUQdmmg%3D&Expires=33275483629","report_table_html_url":"https://nbg1.your-objectstorage.com/registercheck/1a42a488-786b-49a8-95cc-09888af795d1/Neuberger_Berman_Asset_Management_Ireland_Limited_German_Branch_Jahresabschluss_zum_Geschaeftsjahr_vom_01.01.2021_bis_zum_31.12.2021.html?AWSAccessKeyId=FQO31O45YZYH72HB47QW&Signature=zRsqQERs%2F1wyEkWYe6eWkhu5A3I%3D&Expires=33275483627","financial_data":null,"is_consolidated":false,"company_id":"3454ec4c-dab3-4108-849f-f9018c300aba","html_content":"$2e"},{"id":"1f929147-2338-400e-8a4e-bb2a046cf2fd","name":"Jahresabschluss zum Geschäftsjahr vom 01.01.2020 bis zum 31.12.2020","link":"?submitaction=showDocument&id=28716641","date":"10.08.2021","language":"Englisch","report_pdf_url":"https://nbg1.your-objectstorage.com/registercheck/ac5e04f6-39dd-4341-9b40-b709afd41d06/Neuberger_Berman_Asset_Management_Ireland_Limited_German_Branch_Jahresabschluss_zum_Geschaeftsjahr_vom_01.01.2020_bis_zum_31.12.2020.pdf?AWSAccessKeyId=FQO31O45YZYH72HB47QW&Signature=gbj1%2B9%2FG40onTTGqiuw8lfqZx6I%3D&Expires=33275483635","report_table_html_url":"https://nbg1.your-objectstorage.com/registercheck/27f77ee2-b1fe-4524-8a6a-708dcd241fc7/Neuberger_Berman_Asset_Management_Ireland_Limited_German_Branch_Jahresabschluss_zum_Geschaeftsjahr_vom_01.01.2020_bis_zum_31.12.2020.html?AWSAccessKeyId=FQO31O45YZYH72HB47QW&Signature=N4GNMY7oBdk%2FIah%2BidpI5OmFwiM%3D&Expires=33275483634","financial_data":null,"is_consolidated":false,"company_id":"3454ec4c-dab3-4108-849f-f9018c300aba","html_content":"$2f"},{"id":"53807617-ebba-4e23-a36c-b5778dfd7044","name":"Befreiender Jahresabschluss gem. §325 a HGB zum Geschäftsjahr vom 05.07.2018 bis zum 31.12.2019","link":"?submitaction=showDocument&id=26536108","date":"27.08.2020","language":"Englisch","report_pdf_url":"https://nbg1.your-objectstorage.com/registercheck/75d3a138-4164-41ed-b816-aca0769ab7ed/Neuberger_Berman_Asset_Management_Ireland_Limited_German_Branch_Befreiender_Jahresabschluss_gem._325_a_HGB_zum_Geschaeftsjahr_vom_05.07.2018_bis_zum_31.12.2019.pdf?AWSAccessKeyId=FQO31O45YZYH72HB47QW&Signature=T9I8T6ydTtlLOu1ncAzdvauPYlg%3D&Expires=33275483654","report_table_html_url":"https://nbg1.your-objectstorage.com/registercheck/b64a2f47-160b-4c97-bd85-b6bc053ba54d/Neuberger_Berman_Asset_Management_Ireland_Limited_German_Branch_Befreiender_Jahresabschluss_gem._325_a_HGB_zum_Geschaeftsjahr_vom_05.07.2018_bis_zum_31.12.2019.html?AWSAccessKeyId=FQO31O45YZYH72HB47QW&Signature=ShdAjuaaNn%2BOIKUV6PG0lLKK4k8%3D&Expires=33275483652","financial_data":null,"is_consolidated":false,"company_id":"3454ec4c-dab3-4108-849f-f9018c300aba","html_content":"$30"}],"industry_classifications":[],"company_matches":[]},"companyData":"$1d:props:children:props:children:props:children:props:companyBasicInfo","financialReportData":null,"generalPartnerData":null,"limitedPartnerData":null,"investmentData":null,"shareholderData":null,"networkData":null,"sonarData":null,"targetLists":null,"companyHistory":null,"representativesSocialsData":null,"isLoadingCompany":false,"isLoadingInvestments":false,"isLoadingShareholders":false,"isLoadingFinancialReports":false,"isLoadingNetwork":false,"isLoadingSonar":false,"isLoadingTargetLists":false,"isLoadingCompanyHistory":false,"isLoadingGeneralPartners":false,"isLoadingLimitedPartners":false,"isLoadingRepresentativesSocials":false,"hasBasicData":true,"hasFullData":true,"hasInvestments":false,"hasShareholders":false,"hasFinancialReports":false,"hasNetworkData":false,"hasSonarData":false,"hasTargetLists":false,"hasCompanyHistory":false,"hasGeneralPartners":false,"hasLimitedPartners":false,"hasRepresentativesSocials":false}]}]}]}]