Neuberger Berman Group LLC 4

What Happened
Neuberger Berman Group LLC, reported as a 10% owner of NB Asset‑Based Credit Fund (NONE), purchased 797,607.178 shares on 2026-02-04 at $10.03 per share, for a total reported value of $8,000,000. The filing records this as a purchase (code P), an open‑market or private purchase; purchases are generally viewed as more informative than routine sales.

Key Details

• Transaction date and price: 2026-02-04 at $10.03 per share. Total value: $8,000,000.
• Transaction type: Purchase (code P) — described as "open market or private purchase."
• Shares owned after transaction: Not specified in this Form 4 filing.
• Footnotes of note:
  • F1: Securities were acquired in respect of the reporting person’s prior commitment.
  • F2: On Feb 21, 2025, NB Europe Holdings LLC (a Neuberger Berman subsidiary) seeded the Fund with 10,000 Institutional Class Shares for $100,000 to comply with Section 14(a) of the Investment Company Act.
• Filing timeliness: Report filed 2026-02-06 for a 2026-02-04 transaction — no late filing indicated.

Context
This transaction was made by a 10% institutional owner, not an individual executive. The footnote that the purchase was made "in respect of the Reporting Person's prior commitment" suggests it may reflect a contractual or capital‑allocation obligation rather than an ad hoc market bet. Retail investors should view the purchase as a material institutional investment but not necessarily as a direct endorsement by company management.