State Street Servicing AllianceBernstein Launch of Dual Access ETF

Reinforces State Street’s Broader Commitment to Innovation in the Active ETF Market

SYDNEY – May 20, 2021 — State Street Corporation (NYSE: STT) today announced that its Australian subsidiary, State Street Australia Limited, has been appointed servicing agent for a marquee AllicanceBernstein Exchange Traded Fund that now offers the cutting-edge dual access option.

Originally developed seven years ago, AllianceBernstein’s Managed Volatility Equities Fund (AMVE) was listed on the Chi-X exchange just last month leveraging the innovative dual access model.

The dual access structure enables active managers to run a single register for both unlisted and listed investments. As a result, managers can gain greater operational and investment efficiencies.

Active management strategies now make up more than 20% of the Australian ETF market[1] .

“State Street continues to pave the way for active managers to participate in the ETF marketplace globally,” said Frank Koudelka, global ETF specialist for State Street. “This included being the first ETF service provider to support each of the semi-transparent active ETF models in the U.S. and now the ground-breaking dual access model in Australia.”

“We are very excited to expand our relationship with AllianceBernstein and to be servicing this innovative investment product.”

As part of the arrangement, State Street will provide a range of servicing solutions including ETF basket services (to provide indicative NAV or iNAV files), fund accounting, fund administration and custody.

“AB developed the Managed Volatility Equities strategy in collaboration with a major Australian superannuation fund which wanted to give its members a smoother, but still competitive, return profile in volatile markets”, said Jen Driscoll, AllianceBernstein Australia chief executive. “We are very pleased to be working with State Street in the delivery of our active ETF.”

State Street has been servicing ETFs for close to three decades and is the largest global ETF servicer. The firm is currently servicing close to 60% of ETF assets and is the only provider serving clients in all major ETF regions[2].

[1] ETFGI Asia-Pacific ETF Insights 03/31/21

[2] ETFGI Global ETF Insights 03/31/21 and State Street research.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world’s leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $40.3 trillion in assets under custody and/or administration and $3.6 trillion* in assets under management as of March 31, 2021, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street’s website at www.statestreet.com.

* Assets under management as of March 31, 2021 includes approximately $60 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

© 2021 State Street Corporation – All Rights Reserved

Important Information

All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for decisions based on such information and it should not be relied on as such.

State Street Asia Limited

© 2021 State Street Corporation – All Rights Reserved

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Media Contact:

Adrian Thirsk

+61 410 287 609

adrian.thirsk@plcorporate.com.au

Published on May 21, 2021

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