State Street Investment Management Debuts Its First Active ETFs in Australia in Partnership with Blackstone Credit & Insurance

SYDNEY, 30 July 2026 -- State Street Investment Management, Australia's largest asset manager¹, today announced the upcoming launch of two actively managed exchange-traded funds (ETFs) in Australia in an extension of its liquid credit partnership with Blackstone Credit and Insurance ("Blackstone"). State Street^® Blackstone Senior Loan (AUD Hedged) Active ETF (ASX: SBSL) and State Street^® Blackstone High Income (AUD Hedged) Active ETF (ASX: SBHI) are the first actively managed ETFs launched by either firm in Australia and are scheduled to list on the Australian Securities Exchange (ASX) on 7 August 2026.

SBSL seeks to provide exposure to primarily sub-investment grade floating rate senior secured bank loans, while SBHI is an income-focused ETF that seeks to provide exposure to a dynamic allocation across liquid credit markets, including high yield corporate bonds, senior loans, and debt tranches of US collateralised loan obligations (CLOs).

SBSL and SBHI are feeder funds investing in the US-domiciled State Street^® Blackstone Senior Loan ETF (NYSE: SRLN) and State Street^® Blackstone High Income ETF (CBOE: HYBL), respectively (the Underlying Funds). SRLN is the largest actively managed bank loan ETF² and both funds are Sub-Advised by Blackstone, the world's largest third-party private credit manager³. As the investment manager of the Australian-listed ETFs, State Street Investment Management will oversee governance and distribution to intermediary and institutional investors.

Launched in 2013 and 2022, SRLN and HYBL have assets under management of US$5.2 billion (AU$7.55 billion) ⁴ and US$569 million (AU$826 million) ⁴, respectively.

"We're excited to introduce these two well-established US ETFs to Australian investors in the form of feeder funds. This launch represents an important milestone for State Street Investment Management in Australia," said Meaghan Victor, Head of Intermediary Client Coverage, Asia Pacific at State Street Investment Management. "We pioneered the ETF industry here 25 years ago, democratising investing and giving all investors access to institutional-grade solutions. Today, we're proud to build on that innovation by launching our first actively managed ETFs listed locally in Australia at a time when demand for active fixed income strategies is accelerating. We believe active ETFs are still in the early stages of their evolution and will play an increasingly important role in portfolio construction."

This year also marks the 25^th anniversary of Australia's first ETFs: the State Street^® SPDR^® S&P^®/ASX 200 ETF (ASX: STW) and the State Street^® SPDR^® S&P^®/ASX 50 ETF (ASX: SFY).

"SBSL is the first ETF in Australia primarily allocating to US senior loans, offering investors access to the AU$2.87 trillion segment of the US corporate credit market⁵," said Flora Herries, Head of APAC Product at State Street Investment Management. "With bank hybrids being gradually phased out, many investors are seeking alternative high yield solutions. These ETFs offer attractive income opportunities by accessing the higher yielding segments of the corporate bond market."

Developed in collaboration with Blackstone, SBSL and SBHI offer investors access to Blackstone's credit expertise, proprietary research, and scale, delivered through a transparent and liquid ETF structure.

Dan Leiter, Global Head of Liquid Credit Strategies and Head of International for Blackstone Credit & Insurance, adds: "We are pleased to partner with State Street to expand access to liquid credit in Australia, a market with deep significance to our investment history and longstanding relationships, and to introduce new products that channel our expertise across our US$125 billion (AU$185 billion) global liquid credit platform⁶. This partnership underscores our commitment to broadening our credit capabilities for a diverse investor base across the Asia Pacific region, where we continue to expand our platform and teams."

Dan McMullen, Global Head of Loan Strategies for Blackstone Credit & Insurance, said: "The US credit markets offer a diversified set of investing opportunities and we have a unique foothold as the largest global loan manager⁷. This initiative builds on our 25-year credit track record of performance and delivering for investors and expanding their access to leading products."

As the world's third-largest ETF provider⁸, State Street Investment Management will have a total of 19 ETFs listed on the ASX following the addition of the two new ETFs. Click here for the complete lineup of State Street Investment Management ETFs in Australia.

¹Source: Rainmaker Wholesale Advantage Report, as of 31 September 2025.

²Source: Morningstar Direct, as of 30 June 2026

³Source: Blackstone Credit & Insurance analysis of company earnings presentations and calls, as of March 31, 2026, or latest publicly available data.

⁴Source: State Street Investment Management, as of 30 June 2026.

⁵Source: McKinsey & Company, The Next Era of Private Credit, September 2024 (USD/AUD conversion rate on 10 July 2026).

⁶Source: Blackstone Credit and Insurance, as of 31 March 2026.

⁷Source: Blackstone Credit and Insurance, as of 31 March 2026.

⁸Source: Morningstar, as of 30 September 2025.

About State Street Investment Management

At State Street Investment Management, we have been helping create better outcomes for institutions, financial intermediaries, and investors for nearly half a century. Starting with our early innovations in indexing and ETFs, our rigorous approach continues to be driven by market-tested expertise and a relentless commitment to those we serve. With over US$6 trillion in assets managed*, clients in 60 countries, and a global network of strategic partners, we use our scale to deliver a comprehensive and cost-effective suite of investment solutions that help investors get wherever they want to go.

*This figure is presented as of June 30, 2026 and includes ETF AUM of $2,203.98 billion USD of which approximately $156.81 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 Investment Management are affiliated. Please note all AUM is unaudited.

About Blackstone Credit & Insurance

Blackstone Credit & Insurance ("BXCI") is one of the world's leading credit investors. Our investments span the credit markets, including private investment grade, asset-based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending and opportunistic credit. We seek to generate attractive risk-adjusted returns for institutional and individual investors by offering companies capital needed to strengthen and grow their businesses. BXCI is also a leading provider of investment management services for insurers, helping those companies better deliver for policyholders through our world-class capabilities in investment grade private credit.

Important Risk Information

Issued by State Street Global Advisors, Australia Services Limited (AFSL Number 274900, ABN 16 108 671 441) ("SSGA ASL"). Registered office: Level 14, 420 George Street, Sydney, NSW 2000, Australia · Telephone: 612 9240-7600 · Web: www.ssga.com/au.

The State Street^® Blackstone Senior Loan (AUD Hedged) Active ETF (ASX: SBSL) and State Street^® Blackstone High Income (AUD Hedged) Active ETF (ASX: SBHI) (the Funds) in this communication are references to managed investment schemes for which a Product Disclosure Statement (PDS) has been lodged with ASIC on 27 July 2026. The PDS is subject to a 7-day exposure period with a possible extension by ASIC for a further 7 days. A copy of the PDS and Target Market Determinations (TMD) are available at www.ssga.com/au. No applications for units under this PDS will be accepted until the exposure period has expired and the ASX has approved the Fund for admission to quotation and trading status as an Active ETF.

SSGA, ASL is the issuer of interests and the Responsible Entity for SBSL and SBHI which are Australian registered managed investment schemes expected to be quoted on the AQUA market of the ASX on or after 7 August 2026.

State Street Investment Management, the business name for State Street Global Advisors, Australia, Limited (AFSL 238276, ABN 42 003 914 225), is the Investment Manager.

Blackstone Liquid Credit Strategies LLC is the Sub-Investment Manager of the Underlying Funds. State Street Global Advisors, Australia Services Limited is not affiliated with Blackstone Liquid Credit Strategies LLC.

The US domiciled Underlying Funds mentioned in this material are not registered for public distribution in Australia. Provision of this information is not intended to be an offer of the US domiciled Underlying Funds to any investor in Australia.

This general information has been prepared without considering your individual objectives, financial situation or needs. You should seek professional advice and consider the PDS before deciding whether to acquire or continue to hold units in the Funds.

Investing involves risk including the risk of loss of principal. Please refer to the product disclosure statement for the specific risks associated with investing in the fund.

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETF's net asset value.

The Underlying Funds are actively managed. The portfolio manager's judgments about the attractiveness, relative value, or potential appreciation of a particular sector, security, commodity or investment strategy may prove to be incorrect, and may cause the fund to incur losses. There can be no assurance that the portfolio manager's investment techniques and decisions will produce the desired results.

Investing in high yield fixed income securities, otherwise known as "junk bonds", is considered speculative and involves greater risk of loss of principal and interest than investing in investment grade fixed income securities. These Lower-quality debt securities involve greater risk of default or price changes due to potential changes in the credit quality of the issuer.

Investments in Senior Loans made at the Underlying Fund level are subject to credit risk and general investment risk. Default in the payment of interest or principal on a Senior Loan will result in a reduction in the value of the Senior Loan and consequently a reduction in the value of the Underlying Funds' investments and a potential decrease in the net asset value ("NAV") of the Funds.

CLO Debt Securities carry certain structural risks including potential subordination to the other tranches of debt in the same capital structure, volatility of underlying collateral values, and potential for principal loss of the underlying assets in excess of the equity valuation. CLOs issue classes or "tranches" of securities that vary in risk and yield. Losses caused by defaults on underlying assets are borne first by the holders of subordinate tranches.

Forward currency contracts used for currency hedging by the Funds may not be able to fully eliminate the impact of currency fluctuations. Currency hedging levels at any time during a month may be more or less than the value of the underlying investments in the US Dollar at that time.

Bonds generally present less short-term risk and volatility than stocks, but contain interest rate risk (as interest rates rise, bond prices usually fall); issuer default risk; issuer credit risk; liquidity risk; and inflation risk. These effects are usually more pronounced for longer-term securities. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss.

An Underlying Fund's income may decline due to falling interest rates or other factors. Issuers of securities held by an Underlying Fund may call or redeem the securities during periods of falling interest rates, and the Underlying Fund would likely be required to reinvest in securities paying lower interest rates.

There can be no assurance that a liquid market will be maintained for ETF shares.

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, ASL's express written consent.

© 2026 State Street Corporation. All Rights Reserved.

9016920.1.1.ANZ.RTL

Exp. Date: 31 July 2027

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