Northern Trust Selected by Wilmington Trust to Support Market-Leading Collective Investment Trust (CIT) Platform

CHICAGO, June 14, 2022 - Northern Trust (Nasdaq: NTRS) has been selected by Wilmington Trust, N.A. to provide custody, fund accounting, fund administration, fund-of-fund administration, and transfer agency services for Collective Investment Trust (CIT) funds with approximately $90 billion in total balances as of April 28, 2022.

Wilmington Trust, a leader in the CIT market and a global premier provider of wealth and institutional services for M&T Bank (NYSE: MTB), selected Northern Trust due to its extensive experience supporting CIT funds and focused client service. The agreement offers Wilmington Trust a competitive edge by implementing the customized solutions, deep expertise, and innovative technologies provided by the Northern Trust team.

"CITs continue to be an increasingly popular investment vehicle to support the long-term investment goals of plan participants for the U.S. retirement plan space. Wilmington Trust needed a service provider with a deep understanding of this vehicle, the commitment and expertise to service plan participants' unique needs, and the operational strength and technology to support the complexity of a diverse group of investment strategies," said Rob Barnett, Executive Vice President and head of intermediary sales at Wilmington Trust. "Northern Trust's expertise in both the CIT and pension space -- combined with their exceptional client service leveraging flexible and customizable technology -- makes for a quality experience that strives to bring CITs into the modern space."

Wilmington Trust maintains exclusive relationships with multiple top-tier global custodians, allowing it to be a more efficient, reliable trustee to sub-advised funds.

Northern Trust's Global Fund Services business provides fund administration, global custody, depositary, investment operations outsourcing, capital markets, and revenue enhancement solutions to global investment managers - supporting an extensive range of complex investment strategies across the full spectrum of asset classes.

"We are excited about the opportunity to offer our custom solutions and innovative technology to help Wilmington Trust achieve continued growth," said Ryan Burns, Northern Trust's head of Global Fund Services, Americas. "With our strong history of supporting CIT structures, our tailored approach to service, local and global capabilities, and advanced technology platforms, Northern Trust can help clients streamline their operations and improve efficiency."

Wilmington Trust, N.A. is a leader in the CIT market with $90 billion in total balances across funds managed by more than 60 subadvisors and available on more than 50 trading platforms as of April 28, 2022.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2022, Northern Trust had assets under custody/administration of US$15.5 trillion, and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.

About Wilmington Trust

Wilmington Trust is a registered service mark used in connection with various fiduciary and non-fiduciary services offered by certain subsidiaries of M&T Bank Corporation including, but not limited to, Manufacturers & Traders Trust Company (M&T Bank), Wilmington Trust Company (WTC) operating in Delaware only, Wilmington Trust, N.A. (WTNA), Wilmington Trust Investment Advisors, Inc. (WTIA), Wilmington Funds Management Corporation (WFMC), and Wilmington Trust Investment Management, LLC (WTIM). Such services include trustee, custodial, agency, investment management, and other services. International corporate and institutional services are offered through M&T Bank Corporation's international subsidiaries. Loans, credit cards, retail and business deposits, and other business and personal banking services and products are offered by M&T Bank, member FDIC.

This is for informational purposes only and is not intended as an offer, recommendation or solicitation for the sale of any financial profit or service or as a determination that any investment strategy is suitable for a specific investor. Investors should seek financial advice regarding the suitability of any investment strategy based on their objectives, financial situations, and particular needs. Investing involves risk and you may incur a profit or a loss. There is no assurance that any investment strategy will be successful. Wilmington Trust is not authorized to and does not provide legal, accounting or tax advice.

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