Northern Trust Asset Management, a leading global investment management firm with US$1.6 trillion in assets under management as of June 30, 2026, announced plans to convert six Northern Trust mutual funds into ETFs in the first quarter of 2027.

The conversions are intended to benefit shareholders with the ETF structure’s increased tax efficiency, trading flexibility and portfolio transparency, while preserving the investment expertise and disciplined management that investors expect from Northern Trust Asset Management.

The move reflects growing investor and advisor demand for ETFs as a preferred vehicle for portfolio construction. The funds represent a diverse range of investment strategies, from core and dividend-paying equities to tax-exempt municipal bonds:

“Northern Trust ETFs are a key part of Northern Trust Asset Management’s growth strategy, enabling us to bring the full strength of our investment capabilities to more investors,” said Northern Trust Asset Management President Michael Hunstad, Ph.D. “These planned conversions are an important step in meeting growing client demand for ETFs, while bringing the scale, investment discipline and long-term perspective that define Northern Trust Asset Management to an expanded ETF platform.”

“ETF adoption has continued to broaden as investors look for efficient, transparent and flexible ways to access high-quality investment strategies,” said Northern Trust Asset Management Global Head of ETFs and Funds Dave Abner. “Northern Trust Asset Management plans to bring established strategies into a structure that better reflects how many clients are implementing portfolios today.”

The conversions have been approved by the fund board. This advance notice of the conversions is intended to give shareholders and distributors time to evaluate and engage with Northern Trust Asset Management ahead of implementation.

With more than 15 years of experience managing ETFs and $27 billion in ETF assets as of June 30, 2026, Northern Trust Asset Management offers a diversified range of active and passive ETFs across equities, fixed income and real assets.

Additional information about Northern Trust ETFs is available at: etfs.ntam.northerntrust.com

*Total fund assets as of June 30, 2026

About Northern Trust Asset Management

Northern Trust Asset Management is a global investment manager that helps investors navigate changing market environments in efforts to realize their long-term objectives. Entrusted with US$1.6 trillion in assets under management as of June 30, 2026, we understand that investing ultimately serves a greater purpose and believe investors should be compensated for the risks they take — in all market environments and any investment strategy. That’s why we combine robust capital markets research, expert portfolio construction and comprehensive risk management to craft innovative and efficient solutions that seek to deliver targeted investment outcomes. As engaged contributors to our communities, we consider it a great privilege to serve our investors and our communities with integrity, respect and transparency.

Northern Trust Asset Management is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Fund Managers (Ireland) Limited, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc., 50 South Capital Advisors, LLC, Northern Trust Asset Management Australia Pty Ltd, and investment personnel of The Northern Trust Company, The Northern Trust Company (Singapore Branch), and The Northern Trust Company of Hong Kong Limited.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2026, Northern Trust had assets under custody/administration of US$20.0 trillion, and assets under management of US$2.0 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.

Before investing, carefully consider the investment objectives, risks, charges and expenses. This and other information are in the prospectus and a summary prospectus, copies of which may be obtained by visiting etfs.ntam.northerntrust.com. Read the prospectus carefully before you invest.

Northern Funds Distributors, LLC, distributor. Northern Funds Distributors, LLC is not affiliated with Northern Trust

© 2026 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.

All investments are subject to investment risk, including the possible loss of principal amount invested. Investments do not typically grow at an even rate of return and may experience negative growth. As with any type of portfolio structuring, attempting to reduce risk and increase return could, at certain times, unintentionally reduce returns.

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

As with any fund, it is possible to lose money on an investment in the Fund. An investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation, any other government agency, or The Northern Trust Company, its affiliates, subsidiaries or any other bank.

ETFs are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF’s shares may trade at a premium or discount to its net asset value, an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact an ETF’s ability to sell its shares. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. Brokerage commissions will reduce returns.

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"These planned conversions are an important step in meeting growing client demand for ETFs, while bringing the scale, investment discipline and long-term perspective that define Northern Trust Asset Management to an expanded ETF platform.”