ALLIANCEBERNSTEIN HOLDING L.P. ANNOUNCES THIRD QUARTER RESULTS

Seth Bernstein, Chief Executive Officer of AllianceBernstein

“AllianceBernstein generated $6.6 billion of firmwide net inflows in 3Q26, our strongest quarterly flow result in 4 years, representing an annualized organic growth rate of approximately 3%. Activity was led by strong institutional demand across both liquid and illiquid credit. Alternatives/MAS generated $15 billion of net inflows, including the onboarding of roughly $12 billion of commercial mortgage loans we highlighted last quarter, marking our seventh consecutive quarter of organic growth for the asset class. While institutional appetite for private assets remained the primary growth driver, our alternatives/MAS franchise grew organically across all three channels, even excluding the CML mandate. Private markets AUM reached $105 billion, up 33% year-over-year and surpassing the upper end of our 2027 target range. Fixed income demand remained robust despite significant rates volatility, but varied by client profile. Continued market share gains in tax-exempt drove $1.6 billion of net inflows amid a turbulent municipal market, while taxable fixed income was modestly positive at $0.3 billion, as strong institutional inflows more than offset retail redemptions. In equities, demand favored passive strategies, which attracted $2.5 billion of net inflows from institutional and private wealth clients, while active equity outflows of roughly $13 billion continued to weigh on flows. Compared to prior year, adjusted net revenues grew 2.2%, adjusted operating income was stable, and adjusted earnings per Unit and distributions to Unitholders rose 2.3% to $0.88.”

Seth Bernstein, Chief Executive Officer of AllianceBernstein

“Our institutional channel generated nearly $16 billion of net inflows, reflecting substantial market share gains in private markets and net inflows from taxable fixed income and passive equity. We ended the quarter with approximately $13 billion of institutional pipeline AUM. This reflects an accelerated pace of deployments, as greater operating efficiency continues to shorten the time from commitment to funding. Importantly, the pipeline does not include any of the $100 billion from CRBG. Retail recorded over $8 billion of net outflows. Continued pressure in active equities and rate-sensitive redemptions from taxable fixed income more than offset positive net flows into alternatives/multi-asset and tax-exempt, where demand for tax-efficient income remains durable despite elevated dislocation in the municipal market. Within Bernstein Private Wealth, active equity redemptions drove modest net channel outflows, partially offset by continued demand for passive equities and alternatives/multi-asset solutions. Despite these outflows, the channel continued to grow net-new-assets at a 2% annualized rate, supported by reinvested dividends and distributions.”

Seth Bernstein, Chief Executive Officer of AllianceBernstein

“Our results this quarter demonstrate the breadth of AB's platform as we continued to execute across our key growth vectors: insurance, private markets, SMAs and ETFs. We expanded our private markets platform through the onboarding of EQH's commercial mortgage loans and continued to scale capabilities across private credit, private placements and asset-based finance. Insurance capital helps us seed and scale differentiated private market capabilities, which we can then extend across third-party insurance, wealth and retirement. As we strengthen this flywheel, deepen our strategic partnerships and maintain expense discipline, we believe AB is well positioned to deliver durable organic growth and long-term value for clients and unitholders. As always, I would like to thank our colleagues around the world for their dedication, partnership and unwavering commitment to serving clients.”