New Service Model Designed Specifically for Institutional Investors in the Middle East and North Africa

First Abu Dhabi Bank PJSC (FAB) and State Street Corporation (NYSE: STT) today announced a new strategic alliance that leverages FAB’s regional securities services expertise, incorporating the largest direct custody network in the Middle East and North Africa (MENA), and State Street’s global strength and capabilities.

The alliance will create a full-service enterprise offering for institutional investors in the region. It will provide MENA investors with extensive reach into more than 100 markets around the world, an unrivalled product range servicing all major listed and unlisted asset classes, delivered by in-country client service teams in the UAE, Saudi Arabia, Kuwait, Oman, Bahrain and Egypt.

Clients will have access to State Street’s full suite of front, middle and back office capabilities, in addition to its extensive data management and analytics solutions, which seamlessly integrate with FAB’s regionalised suite of securities services products, local expertise and regional direct custody network.

Hana Al Rostamani, Group Chief Executive Officer of FAB, commented: “The Middle East investment landscape is distinctive with some of world’s largest sovereign wealth funds alongside a diverse range of private investment institutions. These investors require access to sophisticated investment tools and solutions across both their MENA and global investments. The alliance between FAB and State Street creates a unique platform, delivering leading capabilities across the entire investment value chain that cater for the characteristics of regional and global investments. We are excited to showcase how this will elevate investment servicing in the region.”

Ron O’Hanley, Chairman and Chief Executive Officer of State Street, commented, “This partnership between FAB and State Street presents a unique proposition for MENA investors and those who invest in the region. Clients are looking for financially secure and operationally resilient partners who can manage the non-core elements of their business, helping to deliver operational efficiencies, reduce costs, mitigate risks and navigate complex regulation. They also desire to access global best practices and scale and a partner who understands the local challenges and constraints they face, and one who has the flexibility to seamlessly adapt to these changes. By leveraging the best of both global and regional expertise offered by the collaboration of our two organisations, we will provide a truly customised and flexible service model that proactively drives innovative solutions to meet our clients’ needs.”

About First Abu Dhabi Bank (FAB)

FAB is the UAE’s largest bank and one of the world’s largest and safest financial institutions. FAB’s vision is to create value for its employees, customers, shareholders and communities to grow stronger through differentiation, agility and innovation.

Headquartered in Abu Dhabi, the bank’s international network spans five continents, providing global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad. FAB is a trusted adviser and regional partner to major institutions, emerging companies and individuals seeking to do business in the UAE, the MENA region and beyond. As an engine of growth for the region, it helps customers to thrive and grow stronger by managing risk, providing access to capital and facilitating trade flows across developed and emerging markets.

With total assets of AED 941 Billion (USD 256 Billion) as of March-end 2021, FAB is rated Aa3/AA-/AA- by Moody’s, S&P and Fitch, respectively, the strongest combined ratings of any bank in the MENA region. The Bank has been ranked by Global Finance as the Safest Bank in the UAE and the Middle East, and the 32nd Safest Bank globally. The Banker’s Top 1000 World Banks 2020 list, measured by Tier 1 capital, ranked FAB as number one in the UAE, second in the Middle East and #85 across the globe - in addition to ranking the bank #109 by assets in the same list. FAB is also a regional sustainability leader, and a constituent of MSCI ESG Leaders and FTSE4Good EM indices.

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.

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