State Street Global Advisors Announces State Street Target Retirement IndexPlus, Providing Defined Contribution Investors Access to Both Public and Private Markets Exposures

State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced the launch of its State Street Target Retirement IndexPlus Strategy, which will provide access to both public and private market exposures in a diversified strategy for defined contribution plans and their participants.

The State Street Target Retirement IndexPlus Strategy expands upon traditional target-date strategies by providing plan participants exposure to public markets through index strategies managed by State Street and exposure to a diversified portfolio of private markets investments via a pooled investment vehicle managed by Apollo (NYSE: APO). The Target Retirement IndexPlus Strategy will be managed by State Street Global Advisors’ Investment Solutions Group, which oversees more than $200 billion in global target-date assets. Each Target Retirement fund will target an allocation of 90% to public market exposures and 10% to private market exposures.

“State Street Global Advisors is focused on driving innovation and delivering solutions that meet the evolving needs of retirement investors,” said Brendan Curran, State Street Global Advisors Head of US Retirement. “By pairing our expertise and scale in target date strategies and index management with Apollo’s leadership in private market solutions, we are providing retirement savers with an innovative solution that delivers greater diversification and access to private markets exposures.”

“Investors are facing a greater need for diversification as they save for retirement, and Apollo is committed to helping develop solutions to meet that need,” said Steve Ulian, Apollo Managing Director, Defined Contribution and Retirement. “The private markets allocation within the State Street Target Retirement IndexPlus Strategy allows investors to gain immediate exposure to a broad portfolio of private market investments.”

Today’s announcement marks the second major milestone for State Street’s retirement strategies in 2025. Earlier this year, State Street announced that IncomeWise™ and related custom target-date strategies now have more than $20 billion in committed assets.

About State Street Global Advisors

For four decades, State Street Global Advisors has served the world’s governments, institutions, and financial advisors. With a rigorous, risk-aware approach built on research, analysis, and market-tested experience, we build from a breadth of index and active strategies to create cost-effective solutions. As pioneers in index and ETF investing, we are always inventing new ways to invest. As a result, we have become the world’s fourth-largest asset manager* with US $4.72 trillion^† under our care.

*Pensions & Investments Research Center, as of 12/31/23.

^†This figure is presented as of December 31, 2024 and includes ETF AUM of $1,577.74 billion USD, of which approximately $82.19 billion USD in gold 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. Please note all AUM is unaudited.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

Disclosures

This material is for educational purposes only; no investment, financial or tax advice or recommendation is provided. It does not suggest taking or refraining from any course of action and should not be used as basis for making any investment decision. It is not designed to be a recommendation of any specific insurance or investment product or strategy and it should not be considered a solicitation to buy or an offer to sell any security or insurance product.

Investing involves risks including the risk of loss of principal.

The State Street Target Retirement IndexPlus Funds (“IndexPlus Funds”) are designed for investors expecting to retire around the year in each fund’s name. When selecting a target date fund or “vintage”, participants should consider if they anticipate retiring significantly earlier or later than age 65, even if such participants retire on or near a fund’s approximate target date. There may be other considerations relevant to fund selection and participants should select the fund that best meets their individual circumstances and investment goals.

The IndexPlus Funds’ asset allocation becomes increasingly conservative as they approach their target date and beyond, and the investment risks of the funds change over time as their asset allocation changes; however the allocation to private markets exposures does not vary across vintages or in the retirement fund. Once a target date fund reaches its target retirement date, it begins a five-year transition period to the retirement fund. Asset allocation does not guarantee a profit or protect against loss. An investment in the IndexPlus Funds is neither insured by the FDIC or any other governmental agency, nor guaranteed by SSGA or any of SSGA’s affiliates, including State Street Bank and Trust Company, or any other bank.

The IndexPlus Funds are bank-maintained collective investment trust maintained and managed by SSGA. State Street Global Advisors Trust Company is a limited purpose trust company established under the laws of the Commonwealth of Massachusetts. The IndexPlus Funds are available to certain eligible defined contribution plans. The IndexPlus Funds are not mutual funds.

The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without SSGA’s express written consent.

All information is from SSGA unless otherwise noted and 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.

The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your tax and financial advisor.

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State Street Global Advisors, 1 Iron Street, Boston, MA 02210-1641

www.ssga.com

All Rights Reserved.

Tracking code: 7823441.1.1.AM.RTL

Expiration date: 4/30/2026

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