Challenger Selects State Street as Custodian and Back, Middle and Front Office Investment Administrator via State Street Alpha Page 1

State Street Corporation (NYSE: STT) today announced that it has been selected by Challenger Limited, a listed Australian asset manager, to provide custody and, through State Street Alpha, back, middle and front office investment administration services to a range of listed and unlisted investment vehicles with A$127 billion in assets.¹ in assets under management.

Under this new client relationship, State Street will be the custodian and investment manager for the entire Challenger group, which comprises the fund management business, including the multi-affiliate platform Fidante, the fixed income platform Challenger Investment Management and Challenger Life, the leading provider of annuity products in the Australian market.